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Shares of <keyword id="188355" type="General" weightage="20" keywordseo="PTC-India-Financial-Services" source="Orion">PTC India Financial Services</keyword> declined around 18 per cent in early trade on Thursday as the company on Wednesday announced that three of its independent directors have resigned from their posts with immediate effect. At 11.15 a.m., the shares traded at Rs 21.15, down 17.5 per cent. Three independent directors were Kamlesh Shivji Vikamsey, Thomas Mathew T., and Santosh B. Nayar, respectively. They resigned over some corporate governance issues facing the company. This is apparently the first instance where all the independent directors of a company have resigned together. "We are in receipt of resignations from three independent directors mentioning some reasons. The matter will be addressed at the board level and subsequent updates will be communicated to all the stakeholders appropriately," the company said in a regulatory filing on Thursday. The company is promoted by PTC India, which is registered with RBI as NBFC. "As independent director, I have placed on record many times - specially over the past few months - my deep displeasure about the lack of appropriate information being made available to the Board," the regulatory filing in which Mathew's resignation was attached, read. "Even when supplied, I have questioned the very poor quality of information being shared with the directors as also complete disregard to timelines in flow of information to the directors between the company management and the board is necessary for the independent directors to function effectively and reasonably perform our duties," Mathew's resignation letter further read. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-green-jumped-45-in-2022-so-far-to-become-more-valuable-than-lt-maruti-suzuki-axis-bank/articleshow/89013318.cms">Adani Green Energy stock has jumped 45% this year to become more valuable than L&amp;T, Maruti Suzuki, and Axis Bank</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/justdial-cant-beat-google-and-it-should-stop-trying-to-say-analysts/articleshow/89010438.cms">JustDial can’t beat Google and it should stop trying to, say analysts</a>

PTC India Financial Services slips 18% after three independent directors resign

<keyword id="141555" type="General" weightage="20" keywordseo="Securitisation" source="Orion">Securitisation</keyword> volume in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> jumped 42 per cent on-year and past the Rs 1.15 lakh crore mark in the first nine months of this <keyword id="46627" type="General" weightage="20" keywordseo="fiscal" source="Orion">fiscal</keyword>, said credit rating agency CRISIL Ratings Ltd. According to CRISIL Ratings, the market activity in the quarter that ended December 2022 continued the momentum witnessed in April to September period. The activity was broad-based, with wider participation, as the number of originators crossed 120 compared with about 100 in the preceding fiscal. Among new originators in the securitised market were small finance banks that have increased their securitised issuances in recent quarters and added this mechanism as one of their routes to access incremental liquidity. Growth in the non-mortgage space was led by commercial vehicle (31 per cent) and microfinance (14 per cent) loans, CRISIL Ratings said. The credit rating agency said the unsecured loans, including personal and business loans, also continued to draw investor attention, comprising seven per cent of the securitised assets compared with three per cent in fiscal 2022. The share of property-backed loans, though, declined to about 38 per cent from about 43 per cent. Senior Director and Deputy Chief Ratings Officer <keyword id="198711" type="General" weightage="80" keywordseo="krishnan-sitaraman" source="Orion">Krishnan Sitaraman</keyword> said: "The securitisation market is continuing to regain its mojo post the pandemic, propped up by a resurgence in microfinance and increasing preference among investors for vehicle loans. Additionally, personal and business loans seem to be gaining greater acceptance, bringing diversity to the bouquet of asset classes being securitised." According to the report, direct assignment (DA) transactions accounted for 60 per cent of the nine-month transaction quantum with this route being utilised for the sell-down of most mortgage and gold loan pools. Correspondingly, the share of pass-through certificates (PTCs) was at 40 per cent, down marginally from 41 per cent a year ago. On the investor side, foreign banks and multinational institutions (about 14 per cent) were more active, given their preference for investing in PTCs backed by loans advanced to economically weaker sections. Private (53 per cent) and public sector (25 per cent) banks remained the largest investor groups, while the share of nonbanks remained low with mutual funds also making sporadic investments. The public sector banks have invested in PTC-backed pools comprising a vehicle, microfinance, and unsecured business loan receivables in recent quarters, the report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/hdfc-bank-wipro-dmart-among-stocks-in-focus/articleshow/97018162.cms">Sensex, Nifty50 end lower led by losses in metals, auto, banks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/paytm-payments-bank-gets-final-nod-from-rbi-to-operate-bharat-bill-payment-system-services/articleshow/97032913.cms">Paytm Payments Bank gets final nod from RBI to operate Bharat Bill Payment System services</a>

Securitisation volume in India jumps 42% past ₹1.15 lakh cr mark in 9MFY23: Crisil

<ul><li>At 7:42 am, the SGX Nifty was down 0.34%, indicating a tepid start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in negative territory on Wednesday, on the back of subdued cues from the global peers. At 7:42 am, the SGX Nifty was down 0.34%, indicating a tepid start for Nifty50. US stocks slipped on Tuesday, with the S&amp;P 500 and the Dow Jones industrial average trading lower after closing at record highs on Monday, as traders baulk at spiking virus cases. The Dow Jones Industrial Average closed 167 points lower, and the S&amp;P 500 was down 0.48%. These are the stocks to watch out for during the trading session today: Lakshmi Vilas Bank On Tuesday evening, the government placed Lakshmi Vilas Bank under a one-month moratorium, superseded its board and capped withdrawals at ₹25,000 per depositor. The step was taken by the government, on the advice of the Reserve Bank, in view of the declining financial health of the private sector lender. Meanwhile, the RBI has also placed in the public domain a draft scheme of amalgamation of Lakshmi Vilas Bank (LVB) with DBS Bank. The shares of Lakshmi Vilas Bank ended 0.32% lower on Tuesday. DLF DLF gets listed on Dow Jones Sustainability Indices (DJSI), becoming the only Indian realty firm to be included in the DJSI index. The index recognised DLF based on its record for its governance, social and environmental initiatives. DJSI Emerging Markets Index in 2020 recognised 100 companies across industries in emerging markets like China, Brazil, Hong Kong, Mexico, Chile, Thailand, Taiwan, Colombia, amongst others besides India. The shares of DLF ended 1.4% higher on Tuesday. Tata Steel HDFC Mutual Funds reduced its stake in Tata Steel from 5.02% to 2.96% on November 12. The shares of Tata Steel ended 6% higher on Tuesday. Oil and Natural Gas Corp ONGC has signed contracts for seven oil and gas blocks it had won in the latest bid round that saw scant participation from the private sector. The shares of ONGC ended 2% lower on Tuesday. IIFL Securities The board of IIFL Securities will meet on November 20 to consider the share buyback proposal. The shares of IIFL Securities ended 20% higher on Tuesday. PTC India Aditya Birla Sun Life Mutual Fund reduced its stake in PTC India from 5.46% to 3.42% on November 12. The shares of PTC India ended 1.3% higher on Tuesday. IRCTC The Indian Railways operator IRCTC cancelled running of two Tejas Express trains due to low occupancy levels owing to Covid-19. The shares of IRCTC India ended 1.04% lower on Tuesday. Just Dial In a BSE filing, Just Dial informed investors that the company is pursuing all legal remedies in the Court to counter the allegations filed by Indiamart Intermesh pertaining to the launch of its proposed B2B project – JD Mart. The company also said that JD Mart platform’s development is running as per the planned schedule, and the product demo is already available on the company’s platforms, which will be launched in due course of time after seeking legal recourse, as may be necessary. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/lakshmi-vilas-bank-under-moratorium-rbi-caps-maximum-deposit-or-withdrawal-at-25000/articleshow/79267116.cms" data-type="tilCustomLink">Lakshmi Vilas Bank under moratorium— RBI caps maximum deposit or withdrawal at ₹25,000</a> <a href="https://www.businessinsider.in/business/startups/news/urban-ladder-was-the-fourth-startup-from-vani-kola-kalaari-capital-portfolio-to-be-sold-to-reliance/articleshow/79264455.cms" data-type="tilCustomLink">Urban Ladder was the fourth startup from Kalaari Capital’s portfolio to be sold to Reliance – the investment firm’s MD is of the belief ‘selling does not mean sellout’</a>

Top stocks to watch — Lakshmi Vilas Bank, ​Just Dial, DLF, Tata Steel, ONGC, IIFL, IRCTC and others

<ul class="summary-list"><li>The combined market value of Adani Group's companies fell below $100 billion on Tuesday, per Bloomberg.</li><li>The 10 listed companies have wiped out over $136 billion in market cap since a short-seller's bombshell report.</li></ul>India's Adani Group has seen the market value of its listed companies fall below $100 billion as the conglomerate struggles to calm investor nerves in the wake of a bombshell short-seller's report.The rout in Adani stocks continued to deepen Tuesday, even after Gautam Adani, the tycoon who spearheads the group, <a href="https://www.ft.com/content/f6e608e3-9b37-4c74-b8d6-257e28cfc204" target="_blank" rel="noopener">played down the losses</a> as "temporary" volatility last week. The Indian conglomerate's 10 listed companies — with businesses ranging from power, ports, transmission, gas, green energy, and food — now have a combined equity market value under $100 billion, <a href="https://www.bloomberg.com/news/articles/2023-02-21/adani-group-market-value-drops-below-100-billion-as-rout-widens" target="_blank" rel="noopener">Bloomberg reported</a>. Shares in Adani Enterprises dropped about 3.2% to just over 1,568 rupees ($18.94) in Mumbai on Tuesday, while those in Adani Green Energy, Adani Transmission and Adani Total Gas all fell by their daily lower limit of 5%. But Adani Power was up 5%, and Adani Ports edged 0.6% higher.The group's companies have collectively lost more than $136 billion in market capitalization since US short-seller Hindenburg Research <a href="https://markets.businessinsider.com/news/stocks/adani-group-hindenburg-research-short-report-4th-richest-person-world-2023-1">released a scathing report</a> in January alleging the Adani Group engaged in stock manipulation and accounting fraud. It accused the Indian conglomerate of "<a href="https://hindenburgresearch.com/adani/" target="_blank" rel="noopener">pulling the largest con in corporate history</a>." The Adani Group has denied the claims repeatedly and <a href="https://www.adanienterprises.com/newsroom/media-releases/Media-Statement-on-Hindenburg-Research-Report" target="_blank" rel="noopener">dismissed</a> the report as "misinformation and stale, baseless and discredited allegations." Last week, the Adani electricity unit called off an $847 million acquisition of a power station, in a sign of a spending slowdown, <a href="https://www.ft.com/content/694736a5-5e1a-4281-b80e-d4ae7abb7c4c" target="_blank" rel="noopener">per the Financial Times</a>. And on Monday, Adani decided against bidding for a stake in Indian electricity trader PTC in a move to keep hold of cash, Bloomberg reported.Indian industrialist and billionaire founder Adani has cut expenses, repaid debt, and hired legal and communications teams to try to ease investor concerns about the group's financial health and access to funds.He is also working on <a href="https://markets.businessinsider.com/news/stocks/adani-short-seller-hindenburg-gautam-stock-rout-india-conglomerate-2023-2?_gl=1*1s67qf8*_ga*NTQwNTIzMjY5LjE2NzM5NjU3NzI.*_ga_E21CV80ZCZ*MTY3Njk2NzczMi4xNDMuMS4xNjc2OTcwNzgwLjAuMC4w">improving financial oversight of the companies that control his business empire</a> by appointing a financial controller to oversee his various trusts and other privately held companies.

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PTC India Financial Services slips 18% after three independent directors resign

IANS

Securitisation volume in India jumps 42% past ₹1.15 lakh cr mark in 9MFY23: Crisil

IANS

Top stocks to watch — Lakshmi Vilas Bank, Just Dial, DLF, Tata Steel, ONGC, IIFL, IRCTC and others

Navdeep Yadav

Beaten-up Adani stocks have now fallen below $100 billion in market value after coming under short-seller attack

Zinya Salfiti

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You Searched For "ptc india shares" and got 4 results

PTC India Financial Services slips 18% after three independent directors resign

IANS

Securitisation volume in India jumps 42% past ₹1.15 lakh cr mark in 9MFY23: Crisil

IANS

Top stocks to watch — Lakshmi Vilas Bank, ​Just Dial, DLF, Tata Steel, ONGC, IIFL, IRCTC and others

Navdeep Yadav

Beaten-up Adani stocks have now fallen below $100 billion in market value after coming under short-seller attack

Zinya Salfiti

Popular Keywords

Buying Guides

Top stocks to watch — Lakshmi Vilas Bank, Just Dial, DLF, Tata Steel, ONGC, IIFL, IRCTC and others