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India Business News: India's weight in MSCI's Global Standard index has reached a record high, narrowing the gap with China, boosting prospects for inflows into equity mar
Shares of state-owned banks, non-banking finance companies (NBFCs) and infrastructure firms plunged as much as 10% on Monday following the Reserve Bank of India's tougher draft guidelines on the financing and accounting of project loans.
Zee Entertainment, PNB, Hindustan Copper, LIC Housing Finance, Canara Bank, Coforge, India Cements, PEL, Birlasoft and IDFC First Bank may enter the ban list as these stocks are near the 95 percent MWPL.
According to research reports, public-sector banks will see a larger impact compared to private lenders.
The proposed stricter lending criteria, with additional provisioning, are aimed at preventing accounting shocks but could potentially hurt balance sheets of these entities and exert pressure on their valuation multiples, analysts and economists said.