Tag: Financial

David Stockman says coronavirus is sparking a financial crisis, warns ‘Wall Street is toast’

Loknath Das

Main Street may be more resilient than Wall Street during the coronavirus crisis. Former Office of Management and Budget director David Stockman warns the pandemic is exposing risky speculation and shaky market fundamentals. “Wall Street is toast,” he told CNBC’s “Trading Nation” on Thursday. “It’s going to end as a financial crisis because the illusion that central banks always have your back and the economy would keep expanding and growing forever and ever … was complete nonsense.” Stockman, who served under President Ronald Reagan, has been forecasting an epic market…

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Ujjivan Financial files prospectus for small finance bank IPO, stock plunges 8%

Loknath Das

Shares of Ujjivan Financial Services fell nearly 8 percent on Monday after the company filed a draft red herring prospectus with the Securities and Exchange Board of India (Sebi) to list its subsidiary Ujjivan Small Finance Bank (USFB). The stock fell as much as 7.8 percent to Rs 261.70 per share on BSE. At 9:25 am, the stock was trading 4.4 percent lower at Rs 271.7 compared with 0.63 percent (236 points) gain in BSE Sensex at 37,586. USFB plans to launch an initial public offering (IPO) at a face value…

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Are you good at managing financial accounts? These startup roles may be perfect for you

Loknath Das

Financial accounting is crucial for any company’s existence. A financial executive or financial analyst is required to manage revenue accounts, and can be a part of the company’s short and long-term business strategies, investments, and other decisions. A finance executive’s job include keeping track of financial transactions, preparing financial reports, reviewing statements, preparing accounting ledgers and performing various other finance-related tasks. If you are good with numbers and money, then one of these finance executive openings might help you. Livspace Finance Executive Experience needed: 2-5 years The candidate will be responsible for document verification of…

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Share market update: Nifty Financial Services index up; Indiabulls Housing Finance jumps 5%

Loknath Das

NEW DELHI: The Nifty Financial Services index was up with most of its components trading with gains in Tuesday’s afternoon session. Shares of Indiabulls Housing Finance (up 5.69 per cent), Shriram Transport Finance Company (up 4.20 per cent), Cholamandalam Investment & Finance Company (up 3.75 per cent) and Indiabulls Ventures (up 3.51 per cent) were the top gainers in the index. ICICI Bank (up 2.38 per cent), Mahindra & Mahindra Financial Services (up 1.58 per cent), State Bank of India (up 1.37 per cent) and REC (up 1.08 per cent)…

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Need to closely monitor asset-liability mismatch in financial sector: Krishnamurthy Subramanian

Loknath Das

NEW DELHI: Chief economic adviser Krishnamurthy Subramanian has said there is a need to closely monitor the asset-liability mismatch in the financial sector and called for an improvement in the disclosure framework for defaults, as embattled non-banking financial companies (NBFCs) face a liquidity squeeze and rating downgrades. In a wide-ranging interaction at the ET office, Subramanian termed the Insolvency and Bankruptcy Code (IBC) a big change, and said the economy had done well by growing at an average 7.5% over the past five years even though there has been a slowdown in…

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Hold Shriram Transport Finance Company, target Rs 1,181: Emkay Global Financial Services

Loknath Das

View of the brokerage- MHCV slowdown resulting in slower disbursements: The domestic MHCVs are showing tepid demand due to high base effect, rural distress, changes in axle norms, leading to surplus capacity and slowdown in real estate. Although the implementation of BSVI emission norms may drive some pre-buying for CVs, the used CV segment is at a downturn as driver-owner is facing surplus capacity with stagnating income levels. We revise our disbursements growth estimates downward to nearly 10 per cent CAGR for FY18-20E from nearly 14 per cent earlier, considering the…

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Family Finance: Why Joshis have enough time to build sufficient corpus for all financial goals

Loknath Das

Early start to planning by Hyderabad-based Joshis will help them build sufficient corpus for all goals. Himanshu and Neha Joshi are IT professionals staying in Hyderabad with their four year-old child. They get a combined monthly salary of Rs 1.9 lakh and, after expenses and investment, are left with a surplus of Rs 10,108. They have already bought a house worth Rs 72 lakh, for which they are paying an EMI of Rs 45,000. They are also servicing a car loan of Rs 3.2 lakh with an EMI of Rs…

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Experts Debate Financial Future of American Higher Education

Loknath Das

Students sit outside at Sweet Briar College, which came very close to closing in 2015. Sweet Briar College is a small, private women’s college in the American state of Virginia. In 2015, the school’s governing board grew concerned about its financial future and considered closing the school. But after a change in leadership and the hard work of its employees and former students, Sweet Briar stayed open. Now, almost three years later, Sweet Briar College is “doing remarkably well,” says Teresa Tomlinson. She is the head of the school’s board of directors. She says…

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US financial technology firm Redline to create 20 new jobs in Belfast

Loknath Das

N AMERICAN financial technology company has chosen Belfast as the location for a new global support centre, set to create up to 20 jobs. Redline Trading Solutions, a niche global provider of Fintech services is the latest high profile addition to the burgeoning sector, with Belfast now recognised as the number one destination globally for financial technology R&D investments. Redline, who have headquarters in Boston and offices in New York, London, Hong Kong, chose Belfast over other locations in Britain, Republic of Ireland and Asia for the support centre, which…

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