Commerce, science and transportation committee, topics included critical mineral supply chains, manufacturing of Semiconductor Chips, workforce shortages and Rural Broadband access. The hearing runs two hours and 40 minutes. [inaudible conversations] good afternoon, the Senate Commerce committee will come to order. I think my colleagues who have been in this room for many hours already today doing double duty today on aviation hearing and very important conversation about the chips in science act, which are committee played a big role in, needless to say are committee has been working diligently on a lot of transformational policy but while we are waiting for our colleague here i think i will thank senator wicker again for his work on chips in science act. People may not remember but this committee, dont know how many were processed. It was in the hundreds. Might have been in the 300s but i definitely believe a regular order process is good for the institution, good for the debate abou
Reasonable deal valuation and strong growth prospects have fetched brownie points for PCBL s acquisition of Aquapharm Chemicals, although debt remains a concern
BOI AXA.
You have got quite a few lenders in your portfolios be it the country’s biggest mortgage financiers, some gold loan companies. There are vehicle financiers like M&M Finance, Piramal, NBFCs with wholesale books which got rerated. Where do you stand as far as the lenders are concerned?
In any lending business, there are two big levers; one is the cost of funds and other is the cost of lending or cost of credit. For the last one year, we have seen the cost of funds coming down very drastically and this was reflected in the NIMs at most of the lenders. But then the perceived cost of credit was very high all through the pandemic and now the market is realising that the perception or the hypothesis which they were working on for the NPA levels somehow is not holding correct. As a result, the market is now looking at lenders more positively and the benefit which they were getting because of low cost of liabilities are getting translated into higher multiples.