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Uttam Gupta
Even as the Government is making all efforts to ensure that the Gross Domestic Product (GDP) after witnessing 8 per cent contraction during 2020-21 returns to a high growth trajectory, it is concerned about the tepid recovery in credit availability which is considered to be the sine qua non of growth. According to the latest data by the Reserve Bank of India (RBI), the annual non-food bank credit growth in January this year was at 5.7 per cent compared to 8.5 per cent in the same period last year. Credit to industry, however, contracted by 1.3 per cent in January 2021 as compared to 2.5 per cent growth in January 2020.
New fiscal may see positive beginning for markets
April 01, 2021
But economic recovery and rising Covid cases worry investors
Markets are likely to open on a positive note on the first day of the new fiscal, despite uncertainty over economic recovery and rising number of Covid-19 cases continuing to weigh on investors’ minds. The SGX Nifty at 14,857 indicates that the Nifty may open with a gain of about 100 points. The Nifty April futures on Wednesday closed at 14,752 on the NSE. High corporate tax rate in the US by Biden administration will also impact market sentiment, both at the global and domestic levels.
Reliance Infra share spikes 10% on selling Santacruz HQ to YES bank
Shares of Anil Ambani-led Reliance Infrastructure rose as much as 9.98 per cent to hit intraday high of Rs 38.55 on the BSE after the firm said it has sold Reliance Center in Santacruz to YES Bank for Rs 1,200 crore
BusinessToday.In | April 1, 2021 | Updated 13:40 IST
Anil Ambani-led Reliance Infrastructure shares fall 10% on Thursday
Shares of Reliance Infrastructure Limited rallied 10 per cent on Thursday after the power generation and infrastructure firm said it has sold Reliance Center, the Mumbai headquarter of Anil Ambani s Reliance Group, to YES Bank for Rs 1,200 crore. The private lenderwill convert the building as its corporate headquarters, as per report.
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Reliance Infrastructure sells Santacruz centre to YES Bank
Reliance Infrastructure Limited and YES Bank Limited announced a sale transaction of Reliance Centre, Santacruz, Mumbai to YES Bank. The transaction value is Rs 1,200 crore.
Entire proceeds from the sale of Reliance Centre, Santacruz is utilized only to repay the debt of YES Bank. Reliance infrastructure limited has reduced its exposure by 50 per cent in the last 90 days.
Rinfra has closed three major transactions in the last 90 days namely sale of road assets Delhi Agra Toll Road, Transmission Asset-Parbati Koldam Transmission Company limited and sale of Reliance Centre, Santacruz.