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Monday, September 29, 2008

Reliance ARC to buy Rs 250-cr of bad debt

Reliance ARC to buy Rs 250-cr of bad debt

Reliance Asset Reconstruction Company, promoted by ADA Group firm Reliance Capital, expects to acquire bad assets of about Rs 250 crore in the next six months.

“So far, we have got little but we expect to acquire stressed assets to the tune of Rs 250 crore by March 2009,” Reliance Capital CEO Sam Ghosh said.

The company is in talks with some entities for taking over stressed assets, he said, adding the average ticket size would be about Rs 20 crore.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Saturday, Jun 28
01:00 CFTC S&P 500 NC Net Positions 1 $-144.8K $-174.1K
01:00 CFTC Oil NC Net Positions 1 233K 231K
01:00 CFTC Gold NC Net Positions 1 $195.0K $200.6K
01:00 CFTC GBP NC Net Positions 1 £34.4K £42.9K
02:00 Bank Stress Test Results 3
Monday, Jun 30
06:30 ANZ Activity Outlook 1 34.8
06:30 ANZ Business Confidence 1 36.6
06:30 TD-MI Inflation Gauge (MoM) 1 -0.4%
06:30 TD-MI Inflation Gauge (YoY) 2 2.6%
07:00 Private Sector Credit (MoM) 1 0.7% 0.7%
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