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RBI Likely To Hike Interest Rates et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
Apr 20, 2018 1:00 PM 2 min read

End of Day Wrap-up (Friday / April 20, 2018) #RBI #loans #banks #Fortis #healthcare #NCLT #Numetal #ArcelorMittal #oil #Transfin

Editorial Comment: According to the Reserve Bank of India (RBI) data on sectoral deployment of bank credit, personal loans, which include home, vehicle and education loans, accounted for a record 96% of incremental non-food credit in the last financial year till February 16. This is more than double their share in incremental bank credit growth in the previous two years.


Fortis Healthcare board of directors appoints an expert advisory committee, led by former Price Waterhouse and Coopers & Lybrand Chairman and Chief Executive Officer Deepak Kapoor, to take a call on the two binding offers — one by TPG-Manipal and another by Sunil Munjal (of Hero Enterprise) and the Burman family (of Dabur) — received by Fortis in the past few days.


The National Company Law Tribunal has ordered the resolution professional and the Committee of Creditors of the beleaguered company to reconsider the bids submitted by Numetal and ArcelorMittal for Essar Steels in the first round in February.


Minutes of the policy meeting this month showed most members of India’s monetary policy committee are optimistic that Asia’s third-largest economy will rebound this year with the output gap closing, a factor that is likely to boost inflation in coming months.


Oil prices surge as a result of ongoing drawdowns in global supply and Opec-led supply cut deal, Brent crude futures end at $73.78 a barrel. Reuters reported on Wednesday that Saudi Arabia would be happy for crude to reach $80 or even $100 a barrel, viewed as a sign that Riyadh will not seek changes to the supply pact.


Shares in the New York-listed, Switzerland-based tobacco giant, Philip Morris, ended down 16% as sales of cigarette & its alternatives decline. That was its biggest one-day slide since becoming a public company in March 2008.