In fact, the 2020-21 defence budget itself was a clear indicator of New Delhi’s seriousness about the new mantra for defence acquisition: build, don’t buy. So small was the budgetary hike in capital allocation—from Rs 115,350 crore in 2019-20 to Rs 118,534 crore in 2020-21—that it came as a big disappointment for the armed forces which had earmarked a large number of weapons systems for procurement. … [Read more...] about India’s defence shopping to go desi
Ajuan mance armed
In the statement, HAL said the Vice Chief of Air Staff, Air Marshal Harjit Singh Arora took part in operation along with HAL test pilot, Wg Cdr (Retd), Subash P John recently by taking-off from high altitude location to a forward area for a simulated attack on a high altitude target. … [Read more...] about HAL’s Light Combat Helicopters deployed for operations at Leh amid LAC tensions
For Avendus, this is its second attempt in going the inorganic route, within a year. In November last year, Avendus Capital Pvt had sought a deep valuation cut in IDFC's mutual fund business. Avendus had agreed to a valuation of less than Rs 2,000 crore, against IDFC’s expectations of Rs 3,500-4,000 crore for buying out IDFC AMC. … [Read more...] about Avendus, Mahindra MF & 3 other MFs in race to acquire IDBI AMC
"As the bond market works on the assessment of single day default. The grace is only for the debenture trustee to ascertain what is known as the event of default. So we have to treat it as a default and if they repay in the course of time you can write back the amount," Arvind Chari, Head –Fixed Income & Alternatives, Quantum Advisors said. … [Read more...] about DHFL Crisis: With mutual funds on wait-and-watch for payments, will SEBI step in?
SEBI is also said to have had concerns with investment in terms of loan against shares. Along with that, MFs which were supposed to sell the equity at the time of default had given a moratorium in private treaty and extended the timeline until September 2019. This has also come under the scanner of SEBI. … [Read more...] about Will the debt crisis lead to exodus of top talent from MF industry?