Foreign fund Amansa Holdings has offloaded its 2.56 percent stake in financial arm of Murugappa Group, Cholamandalam Investment and Finance Company for Rs. 388 crore via open market transaction. Cholamandalam is an investment firm that primarily deals in home loans, home equity loans and SME loans.
Central Bank of India has raised funds of Rs. 500 crore via Basel III compliant tier II bonds on private placement basis. The non redeemable convertible debentures carry interest rate of 8.62 percent with the maturity period of 122 months. The bank plans to utilise the funds in strengthening their capital planning, performance and profitability.
Lakshmi Vilas Bank has tied up with a leading Financial Services company, Centrum Group to provide services to its high net worth clients. Centrum Group will provide professional wealth management and family office services to the high net worth clients of the bank. Centrum Group primarily deals in professional wealth management services which include investment advisory across asset classes, portfolio management services,family office services and tax planning.
Analysts at Care Ratings have opined that residential real estate sector sales of new house units is likely to slowdown in 2017 as the home buyers are deferring new home purchases and are expecting a further cut in interest rates from RBI. However, the experts have still maintained a stable outlook on commercial and retail segment of the realty sector and believe that these segments will be able to grow at reasonable rates.
As per the reports by HDFC Securities, issue price of Sovereign Gold Bond for seventh tranche has been fixed at Rs. 2,893 per gram of gold. Government in consultation with RBI has launched the seventh tranche of Sovereign Gold Bonds 2016-17 and the applications for the bonds will be accepted from 27th Feb, 2017 to 3rd March, 2017. The bonds are expected to be issued on 17th March, 2017. The bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), post offices and recognised stock exchanges such as NSE and BSE.
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at email@example.com to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.