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FCCB CRISIS
Suzlon may default on Rs 1.2K crore FCCBs due JulyThe Pune-based company is facing the liquidity crisis as it has no resolution plan in place.- $2 billion ECBs maturing; rupee crash leaves these 60 firms at riskIndian companies with or without export revenues usually keep their forex exposure hedged.
- US firm Houlihan Lokey parts ways with Rajiv Kochhar's Avista Advisory GroupThe US firm’s profile had surged after the restructuring of Lehman Brothers, Washington Mutual and General Motors, three of the world’s lar...
- Castex shares slide 5%; Amtek Auto recovers amid Sebi probeCastex shares have now declined for 43 consecutive sessions, tanking as much as 89 per cent since July 13.
- Zenith promoters withdraw their appeal against winding-up orderPromoters of Zenith Infotech withdrew their appeal to SC against a Bombay HC order allowing winding up of Mumbai-based software firm.
- With dollar bull-run on, rupee may drift to 58 levels: India ForexOn account of uncertainties over deepening Euro zone crisis, investors are dumping emerging market’s assets like India, China, Brazil and R...
- Most companies, including 3i Infotech, Great Offshore and Hotel Leelaventure, may default on FCCBs this year: S&PMore than half of the 48 companies that are due to redeem an estimated $5 billion of convertible bonds in 2012 may default, S&P forecasts.
- Suzlon counts on REpower to repay $566 million foreign bondsLife has come a full circle for Suzlon Energy. Riding on chairman Tulsi Tanti's insatiable growth aspirations.
- Foreign acquisitions, debt a scourge for cash-rich IT firms like 3i Infotech, FirstsourceCash-rich tech firms stretched themselves too thin by going for overseas acquisitions funded through foreign debt. It is affecting their pr...
- India Inc looks at China as FCCB crisis looms largeIndian companies have begun exploring possibility of getting cheaper loans from China to meet their other costlier foreign borrowing obliga...
- India Inc's FCCB pain is lenders' opportunityMost companies may fail to convert bonds since share prices are at least 40-80 % below the price fixed during the boom time.
- IFRS norms may be diluted before rolloutWatered-down rules are likely to help India Inc, but global investors may turn sceptical.
- India Inc takes the FCCB road againOver a dozen cos announce bonds this fiscal; US fin institutions top buyers’ list.
- Rise in bond prices takes away buyback gains this quarterRising confidence in equity and credit markets may knock off a key component of earnings this quarter for a few companies.
- India Inc's profit growth may not ride on FCCBsRising confidence in equity and credit markets may knock off a key component of earnings this quarter for a few companies.
- Cos may land a windfall from FCCB buybacksDuring the first nine months of the last fiscal, firms following Accounting Standard 11 had written off heavy mark-to-market losses towards...
- FCCB-loaded cos seek PE lifelineWith a sharp fall in equity markets as well as rupee, there’s a rush to rope in investors to buy bonds.
- India not in favour of capital controls: ChidambaramFinance minister P Chidambaram says the current financial crisis is due to the US subprime crisis, but India's growth remains solid. Earnin...
- RBI fails to rein in foreign borrowingsOverseas borrowing by Indian corporates appears to continue unabated, even after Reserve Bank’s stringent restrictions.
- Foreign borrowings up 69% to $5.6 bnOverseas borrowings by Indian corporates shot up 69% to $5.6 billion in April-May 2007 from $3.3 billion last year on the back of a $2 bill...
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