Page 38 - Investment

Govt initiatives, growing investment to create more jobs during decade: CEA

Various initiatives from the government and growing investment are going to create more job opportunities during the decade, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Tuesday. The last decade of the century was marked by a decline in capital formation in the economy and moderation in credit growth, he said at an event here. "Hopefully, those things are a thing of the past. Non food credit growth is now running close to 20 per cent, balance sheets of companies and banks are in good shape and hiring (is showing improvement)," he said. Quoting 2021-22 data, he said, employment in agriculture declined by 15 lakh, manufacturing and services added 37 lakh jobs each and the construction sector generated 19 lakh jobs, he said. "This trend we hope will continue in the future, as indicated by the robust gross value added growth in manufacturing and construction sectors," he said. Talking about various government initiatives for job creation, Nageswaran said, skill developmen

Ambit Finvest raises Rs 690 crore from Daiwa Securities, existing investors

Non-bank lender Ambit Finvest on Tuesday said it has raised Rs 690 crore from a Japanese securities group and other existing investors. Japan-based Daiwa Securities Group, which has been a partner for Ambit Group in other businesses, will get a minority stake for its Rs 415-crore investment, a statement said. The remaining Rs 275 crore has been raised from existing shareholders, including the parent, the statement said. The company is engaged in providing secured and unsecured business loans, as well as used vehicle loans, to micro small and medium-sized enterprises in India over the last two years, and has invested in branches and technology, the statement said. Classified as a systemically important Non-Banking Financial Company (NBFC), it has helped over 68,000 MSME business owners by offering them business loans for various requirements. It has disbursed over Rs 6,000 crore worth of loans since its inception in 2018 and currently has over Rs 3,800 crore in assets under managem

Bajaj Auto to invest over Rs 3,000 crore into finance subsidiary BACL

Bajaj Auto Credit Ltd is a wholly-owned captive finance subsidiary of BAL, established exclusively for financing two-wheelers and three-wheelers manufactured by BAL and its subsidiaries

DPI, tax code make India attractive investment destination: WEF official

A combination of policy changes such as bankruptcy law and taxation code and the enabling environment created by the digital public infrastructure has made India an attractive investment destination for the financial technology sector, a senior World Economic Forum (WEF) official said. In a video interview with PTI, Matthew Blake, Head of the Centre for Financial and Monetary Systems at the WEF said India has been one of the best-performing markets in the world and investors have made money here. Blake also struck a word of caution saying that since markets do not move in a purely linear fashion and were prone to "ups and downs", there was a need to educate investors. "So this idea of being an informed investor, a diversified investor, and having access to educational resources to do that is really fundamental artificial intelligence (AI)," he said. "I think a combination of different policy choices that have been made make India quite an attractive investment destination. In addit

Trade bodies urge Rajasthan govt to make changes in investment policies

The MLUPY scheme provides concessional bank loans to facilitate establishment of enterprises in the state and create employment opportunities

PE, VC investments fall to $2.2 billion in Feb as big-ticket deals dry up

Private equity and venture capital investments declined to USD 2.2 billion in February, 39 per cent down when compared with the year-ago period's USD 3.7 billion, a report said on Thursday. On a month-on-month basis PE, VC investments have witnessed a decline of 67 per cent. The number of deals were higher at 120 transactions in February, as compared to 86 deals in January and 57 in February 2023, the report by industry lobby group IVCA and consultancy firm EY said. "This is the second lowest monthly total for PE/VC investments since February 2021. We remain cautiously optimistic as the election super cycle unfolds in India and globally, with many large economies going to the polls in 2024," the consultancy firm's partner Vivek Soni said. In February, there were seven large deals of USD 100 million or above aggregating to USD 1 billion, which is 82 per cent lower than the USD 5.7 billion in January 2024 and 66 per cent lower than the USD 3 billion in the year-ago period, the report

'Lenders to chase corporate bonds as new investment rules kick in'

Currently banks can hold up to 23% of their deposits under HTM as investments in government bonds and state debt and this cap will be removed in April

Schneider Electric to invest Rs 3,200 crore to make India manufacturing hub

Energy management and automation major Schneider Electric said it will invest Rs 3,200 crore by 2026 to make India its manufacturing hub for domestic sales as well as exports. Under the plan, Schneider Electric on Thursday inaugurated a facility with Rs 100 crore investment to produce cooling solutions for data centres in Bengaluru. The company will invest Rs 3,200 crore for making India a manufacturing hub for the group, Schneider Electric India President-Greater India Zone and MD & CEO Deepak Sharma told PTI on the sidelines of plant inauguration. As part of this, the company will set up manufacturing facilities for its various products and solutions across India. He also informed that the company is setting up factories in Maharashtra, Karnataka, Gujarat, Telangana, Tamil Nadu, West Bengal, Uttarakhand and Odisha. Presently, the company has 30 factories across India, including the new cooling solutions factory inaugurated on Thursday. Sharma informed that the company is alread

Top Canadian pension funds invest $438 million in Indian highways trust

The investments come as India, where general elections commence next month, has been seeing continued momentum in pre-poll government spending

Jio Financial Services invests Rs 40 crore capital in leasing arm JLSL

Jio Financial Services on Tuesday said it has invested Rs 40 crore in its wholly-owned subsidiary Jio Leasing Services Ltd (JLSL) which has been formed for undertaking leasing of movable assets activity. The company on Tuesday subscribed to 4,00,00,000 equity shares of Rs 10 each of JLSL for cash at par aggregating Rs 40 crore for its business purposes, Jio Financial Services said in a regulatory filing. "No governmental or regulatory approvals were required for the above transaction," it said. The subsidiary will be engaged in the business of leasing of all types of movable assets, it added.

Merger musings

Reliance Industries is making big bets in a sector where it had a minor position until recently

Insurance sector received Rs 54,000 crore FDI in 9 years, says DFS Secy

The government increased the permissible FDI limit from 26 per cent in 2014 to 49 per cent in 2015 and then to 74 per cent in 2021, he told PTI in an interview

ASK Hedge Solutions aims to raise Rs 3,000 crore from AIF in 18 months

ASK Hedge Solutions on Monday said it is targeting to raise Rs 3,000 crore corpus from wealthy individuals and family offices in the next 18 months for its alternative investment fund. The ASKAbsolute Return Fund is an open-ended category-III alternative investment fund (AIF), which will be seeking to raise the money from high networth individuals, ultra HNIs, family offices and corporate treasuries, the company's chief executive officer Vaibhav Sanghavi told reporters here. Over the past decade or so, the nascent long-short platform has delivered returns of 10-15 per cent from a compounded annual growth rate perspective, Sanghavi said. He said the current fund will be targeted purely at domestic investors, but the next one of a similar strategy will open it for foreign investors as well. The newly launched fund has already received commitments of Rs 50 crore, and the company is targeting to take it to Rs 1,000 crore in six months. When asked about market regulator Sebi's concerns

This is India's decade as global destination for investments, travel: VFS

India has a vibrant and diverse economy, a large young population and a rich cultural heritage which make it attractive for investors and visitors, according to the CEO of the world's largest visa outsourcing company. Zubin Karkaria, founder and CEO of VFS Global, said India is undergoing a rapid economic and social transformation. "This creates new opportunities for business, trade, tourism, and culture. I truly believe this is India's decade," he said. "In VFS global, we are very optimistic about the prospects of India as a global destination, as a source, both for inbound tourism and outbound travellers. India has a vibrant and diverse economy, a large young population, and a rich cultural heritage. These factors make India attractive, both for investors and visitors, he told PTI in a recent interview. Known for creating a new industry of visa and passport outsourcing, VFS Global in just 22 years of its inception operates in 149 countries through 3,353 application centers. So fa

Mother Dairy to invest Rs 750 cr to set up 2 dairy processing plants

Mother Dairy will invest Rs 650 crore to set up two new plants for processing of milk as well as fruits and vegetables to expand its business amid rising consumer demand. Mother Dairy, which is a leading milk supplier in Delhi-NCR, will also invest another Rs 100 crore to expand capacities of its existing plants. "In our endeavour to expand our distribution and reach to our consumers, we have earmarked a capital expenditure (capex) outlay of over Rs 750 crore to enhance our dairy and F&V (fruits and vegetables) processing capacities across key locations," Mother Dairy Fruits and Vegetables Pvt Ltd MD Manish Bandlish told PTI. Mother Dairy is coming up with a big dairy plant in Nagpur, Maharashtra with an investment of around Rs 525 crore, he said. The greenfield plant will have a processing capacity of 6 lakh litres of milk per day, which can be expanded up to 10 lakh litres a day. This upcoming plant will serve the markets of central and southern regions. "We also plan to ...

Tata Motors to set up manufacturing unit in Tamil Nadu, invest Rs 9,000 cr

Automaker's plan spreads over 5 years, expected to create more than 5,000 jobs

Rs 601.5 cr IPO of Popular Vehicles subscribed 45% on 2nd day of bidding

The initial share sale of Popular Vehicles and Services Limited got subscribed 45 per cent on the second day of subscription on Wednesday. The Rs 601.55 crore-Initial Public Offer (IPO) received bids for 65,31,800 shares against 1,44,15,110 shares on offer, as per NSE data. The portion for Retail Individual Investors (RIIs) attracted 77 per cent subscription while the non-institutional investors part got subscribed 20 per cent. The IPO has a fresh issue of up to Rs 250 crore and an offer for sale of up to 1,19,17,075 equity shares. The price range for the Kochi-based company's offer is Rs 280-295 a share. On Monday, Popular Vehicles and Services said it has garnered Rs 180.17 crore from anchor investors. Proceeds of the fresh issue will be used for debt payment and general corporate purposes. Popular Vehicles and Services is a leading diversified automotive dealership in the country with a presence across the automotive retail value chain, including the sale of new passenger and

Perfios secures $80 million funding, set to become 2nd unicorn of 2024

Perfios helps financial institutions with processes such as origination, onboarding, decisioning, underwriting, and monitoring

Is Sukanya Samrddhi Yojana the best investment option for a girl child?

Deposit is to be made for 15 years from the date of account opening. The account will mature 21 years after the date of opening or at the time of marriage of the girl child

FPI count at GIFT City doubles in last four months, shows NSDL data

Many fund managers are increasingly looking to redomicile their base to India's maiden International Financial Services Centre (IFSC), say legal experts