Powered by: Motilal Oswal

News

Credit offtake grows as HDFC merger boosts retail; NBFCs reduce MoM By Care Edge Rating Synopsis * Gross bank credit offtake witnessed an accelerated rise of 19.7% year-on-year (y-o-y) in July 2023. The growth was driven by services and personal loans. However, the reported July 2023 data includes the impact of the merger of HDFC with HDFC Bank and, hence is not directly comparable. Adjusted for the merger, the non-food credit systemic growth stands at 14.8% y-o-y and -1.4% m-o-m. * Personal loans reported a sustained growth at 31.7% y-o-y in July 2023 compared to 18.7% a ...
Credit offtake grows as HDFC merger boosts retail; NBFCs reduce MoM By Care Edge Rating
Credit offtake grows as HDFC merger boosts retail; NBFCs reduce MoM By Care Edge Rating
Source: CareEdge Ratings
7/09/2023 5:21:51 PM
Aurionpro Solutions touches roof on planning to acquire Interact DX Aurionpro Solutions is currently trading at upper circuit limit of Rs. 1236.45, up by 58.85 points or 5.00% from its previous closing of Rs. 1177.60 on the BSE. The scrip opened at Rs. 1236.45 and has touched a high and low of Rs. 1236.45 and Rs. 1236.45 respectively. So far 2954 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1,236.45 on 7-Sept-2023 and a 52 week low of Rs. 291.00 on 28-Mar-2023. Last one week...
Aurionpro Solutions touches roof on planning to acquire Interact DX
Aurionpro Solutions touches roof on planning to acquire Interact DX
Source: Accord Fintech
7/09/2023 10:43:13 AM
PFC deals with the borrowers as the project partner and supports the project till it gets complete: Mr. Rajiv Ranjan Jha, Director (Projects), Power Finance Corporation Limited During the seminar on “Credit Expansion: Propelling the growth of Indian Economy” organized by The Banking, Financial Services & Insurance (BFSI) Committee of the PHDCCI on 2nd September, 2023, Mr. Rajiv Ranjan Jha, Director (Projects), Power Finance Corporation Limited said that PFC deals with the borrowers as the project partner and supports the project till it gets complete. Mr. Jha, in his keynote address said that ...
PFC deals with the borrowers as the project partner and supports the project till it gets complete: Mr. Rajiv Ranjan Jha, Director (Projects), Power Finance Corporation Limited
PFC deals with the borrowers as the project partner and supports the project till it gets complete: Mr. Rajiv Ranjan Jha, Director (Projects), Power Finance Corporation Limited
Source: PR Agency
5/09/2023 12:39:56 PM
BFSI Sector Update : Growth trending well, but could El-Nino be a party spoiler By Emkay Global Financial Credit growth running ahead of expectation, led by unsecured retail and corporate credit pick-up The Indian banking system’s growth remains robust at 14.9% YoY (ex-HDFCL) for the fortnight ended August 11, 2023 (vs. 14.7% YoY for the previous fortnight); and if the current momentum continues, it could surpass the earlier expected 12% growth in FY24. The current credit momentum is supported by aggressive growth in unsecured loans (incl. PL and Cards) as banks remain pro-risk, while un...
BFSI Sector Update : Growth trending well, but could El-Nino be a party spoiler By Emkay Global Financial
BFSI Sector Update : Growth trending well, but could El-Nino be a party spoiler By Emkay Global Financial
Source: Emkay Global Financial Services
1/09/2023 12:52:43 PM
Indian IT industry expected to grow 3-5% revenue in 2024, lower than 2023 The Indian IT industry is expected to see moderate revenue growth of 3 to 5 per cent in FY2024, lower than 9.2 per cent (year-on-year) growth in FY2023, a new report said on Tuesday. According to the credit rating agency ICRA, key sectors like BFSI, retail, technology, and communication are expected to slow down discretionary IT spending. The operating profit margin is expected to decline by 70-100 bps in FY2024 due to lower operating leverage. "The operating profit margin (OPM)...
Indian IT industry expected to grow 3-5% revenue in 2024, lower than 2023
Indian IT industry expected to grow 3-5% revenue in 2024, lower than 2023
Source: IANS
29/08/2023 2:13:08 PM
Debt collections SaaS platform Credgenics raises $50 mn SaaS-based debt collections and resolution technology platform Credgenics on Wednesday said it has raised $50 million in a Series B round led by Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund and other strategic investors. The company, valued at $340 million, will use the funds for product innovation and enrichment, international business expansion, and capturing other BFSI industry segments. “With these resources, we can extend our innovative debt recovery soluti...
Debt collections SaaS platform Credgenics raises $50 mn
Debt collections SaaS platform Credgenics raises $50 mn
Source: IANS
9/08/2023 10:34:29 AM
Bank, infra cos, OMCs on a high; chemicals, metals don`t shine Markets are on a roll and are currently trading around their lifetime highs. Going forward, expect them to trade at elevated levels, but different sectors are performing differently. Results are a mixed bag and it's because of the differential sector performance that markets are where they are. Some of the top-performing sectors are Banking and BFSI sector, Auto sector and OMC or oil marketing companies.  Let us analyse some of the sectors that have done well and those that hav...
Bank, infra cos, OMCs on a high; chemicals, metals don`t shine
Bank, infra cos, OMCs on a high; chemicals, metals don`t shine
Source: IANS
30/07/2023 10:41:41 AM
Nifty likely to cross 20K-mark on Friday Domestic equities are a breath away from the psychological levels of 20,000. Nifty opened flat on Thursday, but soon gained momentum to close with handsome gains of 146 points at 19,979 levels, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services. All sectors ended in the green, except IT and consumer durables. BFSI, FMCG and pharma were the top gainers, up 1 pert cent each. On the backdrop of consistent FIIs buying (Rs 16,300 crore month till date), sound...
Nifty likely to cross 20K-mark on Friday
Nifty likely to cross 20K-mark on Friday
Source: IANS
20/07/2023 5:45:30 PM
Credit Growth Stays Robust in Q1, Deposit Growth Hits 6-Year High By Care Edge Ratings Synopsis • Credit offtake continued to witness elevated growth at 16.2% year on year (y-o-y) to reach Rs. 143.9 lakh crore for the fortnight ending June 30, 2023, driven by personal loans, NBFCs and agriculture & allied activities. The outlook for bank credit offtake continued to be positive due to economic expansion, rise in capital expenditure, implementation of the Production Linked Incentive (PLI) scheme, and retail credit push. However, it is still expected to moderate from 1...
Credit Growth Stays Robust in Q1, Deposit Growth Hits 6-Year High By Care Edge Ratings
Credit Growth Stays Robust in Q1, Deposit Growth Hits 6-Year High By Care Edge Ratings
Source: PR Agency
18/07/2023 10:36:07 AM
Easebuzz reports profit in the seventh consecutive year; aims to cross $100Mn run rate over the next 12-18 months Easebuzz, India’s fast growing digital payments platform, has released its FY23 financial numbers. The annual Gross Transaction Value (GTV) processed by the platform during the year crossed at a record INR 70,000 Crores, a 2.5x growth rate over FY22. The daily volume run rate of the platform touched 400K transactions. Easebuzz has seen a significant momentum in revenue of INR 236 Crores ($29Mn), a growth of more than 90%. The company has remained profitable since inception. The ...
Easebuzz reports profit in the seventh consecutive year; aims to cross $100Mn run rate over the next 12-18 months
Easebuzz reports profit in the seventh consecutive year; aims to cross $100Mn run rate over the next 12-18 months
Source: PR Agency
17/07/2023 5:39:12 PM
BFSI Sector Update : Lower payouts linked to CLSS subsidy to ensure higher YoY FY24E AUM growth - ICICI Securities Introduction of the credit-linked subsidy scheme (CLSS) by the government in 2015 improved affordability of home loans for EWS and LIG population groups. This is reflected in CLSS-linked loans to the two groups accounting for 4% each of total home loan disbursements in FY21 and FY22. Though the scheme was discontinued in FY22, demand for affordable home loans remained strong in both FY22 and FY23. AUM growth for housing finance companies (HFCs) was at 13% YoY in FY22 and 14% in FY23 (for sele...
BFSI Sector Update : Lower payouts linked to CLSS subsidy to ensure higher YoY FY24E AUM growth - ICICI Securities
BFSI Sector Update : Lower payouts linked to CLSS subsidy to ensure higher YoY FY24E AUM growth - ICICI Securities
Source: ICICI Securities Ltd
5/07/2023 12:27:20 PM
Net NPAs Reach Historic Low Levels, Fall Below 1.0% in Q4 : CareEdge Synopsis • Gross Non-Performing Assets (GNPAs) of Scheduled Commercial Banks (SCBs) reduced by 23.5% y-o-y to Rs.5.5 lakh crore as of March 31, 2023, due to lower slippages, “steady recoveries & upgrades” and write- offs. The GNPA ratio of SCBs reduced to 3.96% as of March 31, 2023, from 6.04% over a year ago. Robust growth in advances of 16.5% y-o-y is also supporting this reduction. • Net Non-Performing Assets (NNPAs) of SCBs reduced by 34.0% y-o-y to Rs.1.3 ...
Net NPAs Reach Historic Low Levels, Fall Below 1.0% in Q4 : CareEdge
Net NPAs Reach Historic Low Levels, Fall Below 1.0% in Q4 : CareEdge
Source: PR Agency
30/06/2023 2:23:33 PM
Indian insurers await classification of HDFC bonds post-merger; assess impact on holdings Indian insurers are awaiting clarity on how Housing Development Finance Corp's bonds will be categorised after the lender is folded into HDFC Bank, as they assess the impact of the merger on their debt portfolios. There is uncertainty whether HDFC's bonds will be classified under housing and infrastructure after the merger, and we are awaiting clarification from regulators, Arun Srinivasan, head of fixed income at ICICI Prudential Life Insurance, told Reuters. "In case it d...
Indian insurers await classification of HDFC bonds post-merger; assess impact on holdings
Indian insurers await classification of HDFC bonds post-merger; assess impact on holdings
Source: Reuters
28/06/2023 4:48:34 PM
Rotation of heavyweight sectors help maintain market balance Markets have many sectors and they move in a pack with the constituents moving up or down differently at different times. FMCG, Capital Goods, Banking or the BFSI space, Pharmaceuticals, IT and tech space, Automobiles which include two-wheelers, passenger cars, HCVs and also auto ancillaries, and petrochemicals and refineries are some of the names of these sectors. Within the sector, there are the leaders and the laggards which would be different from time to time. The leaders would typ...
Rotation of heavyweight sectors help maintain market balance
Rotation of heavyweight sectors help maintain market balance
Source: IANS
18/06/2023 2:34:25 PM
Banking stocks likely to lead market rally Bank Nifty has been the biggest outperformer in recent months as good buying interest is seen across financial stocks. Sandeep Gupta, Senior Group VP & Head of Dealing & Advisory - Broking & Distribution, MOFSL said the Index made a new all-time high of 44,483 mark on Monday, compared to its previous high of 44,151 made in December 2022. Gupta said earning momentum continued for banking stocks as most banks reported strong results. Apart from further expansion in margins, as...
Banking stocks likely to lead market rally
Banking stocks likely to lead market rally
Source: IANS
29/05/2023 6:05:38 PM
Banking Sector Update : Currency note withdrawal CNW 2023 Net positive for the financial sector by Emkay Global Financial Services The RBI has announced the withdrawal of Rs2000 notes from circulation, which the regulator claims is not used much for transactions and thus will be withdrawn from the system (a similar move was taken in 2013-14 to withdraw pre-2005 Rs500 notes). We, hereby, evaluate the impact of the Currency Note Withdrawal (CNW) 2023 vs. DeMon 2016 on the financial sector: DeMon 2016 déjà vu? During 2016 DeMon, notes valuing Rs15.5trn/86.9% of notes under circulation were demonetized, w...
Banking Sector Update : Currency note withdrawal CNW 2023 Net positive for the financial sector by Emkay Global Financial Services
Banking Sector Update : Currency note withdrawal CNW 2023 Net positive for the financial sector by Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
27/05/2023 11:56:26 AM
London Stock Exchange Group to set up tech centre in Hyderabad London Stock Exchange Group PLC (LSEG) has announced that it will establish a Technology Centre of Excellence in Hyderabad, which will generate employment for about 1,000 people. The announcement was made after Telangana's Minister for Information Technology and Industries K.T. Rama Rao met Anthony McCarthy, Group CIO, LSEG in London. A Memorandum of Understanding (MoU) in this regard was signed by Jayesh Ranjan, Principal Secretary of IT and Industries Departments, and Anthony McCa...
London Stock Exchange Group to set up tech centre in Hyderabad
London Stock Exchange Group to set up tech centre in Hyderabad
Source: IANS
12/05/2023 6:15:36 PM
AI chatbots to help recruiters automate screening, cut onboarding workload: SquaREcruit Founder As the enterprises of all sizes stare at talent crunch in new-age technologies, especially lack of AI skills, recruitment and hiring platforms like SquaREcruit have doubled down on creating a pool of skilled professionals for the generative AI era. According to IT industry's apex body Nasscom, India currently ranks first in terms of AI skill penetration and AI talent concentration globally. However, the AI skill shortage is now being felt across the spectrum. The demand for AI talen...
AI chatbots to help recruiters automate screening, cut onboarding workload: SquaREcruit Founder
AI chatbots to help recruiters automate screening, cut onboarding workload: SquaREcruit Founder
Source: IANS
12/05/2023 11:02:43 AM
Over 500mn cyberattacks blocked in India in Q1 2023: Report More than 500 million cyberattacks were blocked in India out of 1 billion global attacks, representing a sharp increase of over 29 per cent in the number of cyberattacks in Q1, 2023, compared to Q4, 2022, (829 million attacks), globally, a new report showed on Wednesday. According to the application security SaaS firm Indusface, on average the BFSI (Banking, Financial Services & Insurance) sector faced 38 per cent more attacks per application compared to the industry average, with over...
Over 500mn cyberattacks blocked in India in Q1 2023: Report
Over 500mn cyberattacks blocked in India in Q1 2023: Report
Source: IANS
10/05/2023 5:42:41 PM
Hiring in startups up in April, despite 6% annual drop in e-recruitment Despite economic uncertainties, the hiring activity among startups has significantly increased in April this year, while there has been a 6 per cent decline in e-recruitment for white-collar compared to the same period in 2022, a new report said on Tuesday. According to the report by foundit (previously Monster India & APAC), there has been a 4 per cent monthly dip, indicating cautious hiring sentiments among Indian recruiters. Although some sectors like BFSI (+3 per cent), Travel &...
Hiring in startups up in April, despite 6% annual drop in e-recruitment
Hiring in startups up in April, despite 6% annual drop in e-recruitment
Source: IANS
9/05/2023 3:09:07 PM
While most global equity markets are rising 5-20% in 2023, India is flat The Nifty, after a weak run in the last four months, bounced back in April with 4.1 per cent MoM gain, Motilal Oswal Financial Services said in a report. Notably, the index was extremely volatile and swung around 776 points before closing 705 points higher. Nifty50 has been underperforming the emerging markets and the world indices in CY23YTD amid varied global macro headwinds viz., inflation, interest rates, and currency, the report said. While most of the global equity markets are ris...
While most global equity markets are rising 5-20% in 2023, India is flat
While most global equity markets are rising 5-20% in 2023, India is flat
Source: IANS
3/05/2023 11:35:24 AM
IIM Kashipur Confers 344 MBA Graduates at the 10th Convocation IIM Kashipur hosted its 10 th Convocation for its flagship Two-Year MBA (batch of 2021- 2023), MBA Analytics, Executive MBA, and Doctoral students at the campus. The institute conferred a total of 353 students with degrees, including 9 Doctoral scholars and 344 MBA Graduates (260 Two-Year MBA students, 58 MBA (Analytics) students, and 26 Executive MBA students). 07 students were conferred with the Institute’ Medals for best Academic performance and 01 student with best all-round perf...
IIM Kashipur Confers 344 MBA Graduates at the 10th Convocation
IIM Kashipur Confers 344 MBA Graduates at the 10th Convocation
Source: PR Agency
2/05/2023 11:27:17 AM
Real Estate, BFSI hiring in India continued to grow in April: Report Active hiring in non-tech sectors such as Real Estate and BFSI (banking, financial services and insurance) in India mitigated the dip in IT sector hiring in April 2023, a new report showed on Monday. According to data by Naukri JobSpeak, the real estate sector spearheaded non-technology industries, witnessing a 21 per cent upswing in recruitment compared to April 2022. This growth was primarily due to an increase in new residential and commercial property launches across metropolitan ar...
Real Estate, BFSI hiring in India continued to grow in April: Report
Real Estate, BFSI hiring in India continued to grow in April: Report
Source: IANS
1/05/2023 3:13:12 PM
Demand for AI jobs up 11% in India amid talent scarcity The demand for artificial intelligence (AI) talent has grown 11 per cent in India over the last six months, driven by job demands in sectors like IT, retail, telecom, BFSI and advertising/market research sectors, a report showed on Monday. The Indian job market will witness a 22 per cent churn over the next five years with top emerging roles coming from AI, machine learning, and data segments, according to the report by foundit (previously Monster India & APAC). When it comes to AI-...
Demand for AI jobs up 11% in India amid talent scarcity
Demand for AI jobs up 11% in India amid talent scarcity
Source: IANS
1/05/2023 2:12:08 PM
Godrej Capital launches NIRMAAN, a digital platform to help MSMEs grow their businesses to their potential Godrej Capital, the financial services arm of the Godrej Group, today announced its new digital platform, Nirmaan, to provide MSME owners an all-inclusive opportunity to grow their businesses. Carefully curated, Godrej Capital Nirmaan packs a range of partners that provide services critical to the growth of MSMEs.       The MSMEs in the country today face challenges like limited access to the market and the ability to expand beyond their regional reach, la...
Godrej Capital launches NIRMAAN, a digital platform to help MSMEs grow their businesses to their potential
Godrej Capital launches NIRMAAN, a digital platform to help MSMEs grow their businesses to their potential
Source: PR Agency
17/04/2023 5:47:36 PM
Job vacancies in India's BFSI sector see significant growth in March Job vacancies in India's banking, financial services and insurance (BFSI) sector have seen a significant year-on-year (YOY) growth in March, according to a report on Monday. The report by job platform Naukri showed that insurance and banking sectors are witnessing a secular bull run in new job creation, significantly contributing to the upward hiring trend in the overall white-collar job market of India. The new jobs created in the insurance sector recorded an astonishing 108 per ce...
Job vacancies in India's BFSI sector see significant growth in March
Job vacancies in India's BFSI sector see significant growth in March
Source: IANS
3/04/2023 2:40:33 PM
LawSikho receives Best Legal EdTech Company of the year award Gurugram-based edtech company LawSikho has been awarded the Best LegalTech Company of the year by Quantic India. Quantic India is a business media company with over a decade of experience in managing BFSI, Supplychain, Pharma, FMCG, Engineering and Master class, B2B Summits and in-house training across Asia, Africa and Europe regions. The award was part of the 3rd edition of Technology Excellence Awards 2023 by Quantic India and was conferred on LawSikho on March 10 in New Delhi. The objec...
LawSikho receives Best Legal EdTech Company of the year award
LawSikho receives Best Legal EdTech Company of the year award
Source: PR Agency
15/03/2023 2:16:03 PM
Credit rated Indian banks can move over to IFRS 9: S&P Global Ratings Credit rated banks in India are well placed to transition to the expected credit loss approach under the International Financial Reporting Standard 9 (IFRS 9) which is more forward looking, said S&P Global Ratings. "We believe IFRS 9's more forward-looking approach to provisioning will improve the timeliness of loan-loss provisions, more closely align reporting with global norms, and facilitate regulatory oversight that should help to mitigate disclosure complexities," S&...
Credit rated Indian banks can move over to IFRS 9: S&P Global Ratings
Credit rated Indian banks can move over to IFRS 9: S&P Global Ratings
Source: IANS
1/03/2023 4:27:34 PM
Indian tech industry adds 290K jobs in FY23, to hit $500 bn revenue by 2030 The Indian tech industry revenue is set to grow by $245 billion in the financial year 2023-end, with the industry adding $19 billion in revenue and around 290,000 jobs in the same period, a Nasscom report showed on Wednesday. At this rate, the tech industry in the country is estimated to reach $500 billion by 2030. Despite the global headwinds, the technology industry in India is set to witness steady growth in FY2023E, according to the report by Nasscom. It estimated that the Indian...
Indian tech industry adds 290K jobs in FY23, to hit $500 bn revenue by 2030
Indian tech industry adds 290K jobs in FY23, to hit $500 bn revenue by 2030
Source: IANS
1/03/2023 3:43:51 PM
KFintech to invest into Fintech Products and Solutions to enter Account Aggregator Business KFin Technologies Limited ("KFin Technologies”), a leading provider of investor and issuer solutions, today announced its decision to invest into Fintech Products and Solutions India Private Limited (FPSIPL), a Technology Service Provider (TSP) having a wholly owned subsidiary, FinSec AA Solutions Private Limited, India’s first Account Aggregator, licensed by Reserve Bank of India (RBI). The partnership will help KFintech venture into TSP and AA business a...
KFintech to invest into Fintech Products and Solutions to enter Account Aggregator Business
KFintech to invest into Fintech Products and Solutions to enter Account Aggregator Business
Source: PR Agency
26/02/2023 4:06:44 PM
Margin recovery highlight of Q3 results: ICICI Securities The highlight of the third quarter results for FY23 is the recovery of margins by the corporate sector, said ICICI Securities in a report. According to the report, Nifty operating margins (ex-financials) rose 230 basis points (bps) QoQ to 17 per cent, primarily led by savings realised from lower raw material costs as gross margin expanded 230 bps QoQ. "This is post a low of 14.7 per cent margin recorded in the last quarter i.e. Q2FY23. On an aggregate basis (ex-financials), the Nif...
Margin recovery highlight of Q3 results: ICICI Securities
Margin recovery highlight of Q3 results: ICICI Securities
Source: IANS
21/02/2023 9:19:31 AM
Largely on the BFSI front the announcements made are clarificatory Says Manoj Purohit, BDO India Below is on Overall Budget Impact On BFSI By Manoj Purohit, Partner & Leader – Financial Services Tax, BDO India. Laying down the foundation for the next decade when India enters Amrit kaal i.e., 75 years of independence, the foremost priority for the Government was to infuse the economy with substantial CAPEX which will not only accelerate demand and supply chain but also create a destination for foreign investments. Though the Economic Survey ...
Largely on the BFSI front the announcements made are clarificatory Says Manoj Purohit, BDO India
Largely on the BFSI front the announcements made are clarificatory Says Manoj Purohit, BDO India
Source: PR Agency
2/02/2023 6:46:02 PM
Buy Shriram City Union Finance Ltd For Target Rs. 2,500 - Emkay Global Financial Services Operating expenses remain elevated, going into the merger Shriram City Union Finance (SCUF) reported Q2FY23 PAT of Rs3.5bn, coming in 2% below our estimates due to higher-than-expected operating expenses. Disbursements grew 1.1% QoQ/24.9% YoY, led by the SME, Personal loan (PL) and LAP segments, while share of 2Ws and pre-owned 2Ws declined 119bps and 65bps QoQ, respectively. AUM grew 4.4% QoQ/18.7% YoY. Calculated NIMs rose by 43bps QoQ to 13.1%, with yields rising 69bps QoQ due to strong...
Buy Shriram City Union Finance Ltd For Target Rs. 2,500 - Emkay Global Financial Services
Buy Shriram City Union Finance Ltd For Target Rs. 2,500 - Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
27/10/2022 3:31:57 PM
Buy Kotak Mahindra Bank Ltd For Target Rs.2,230 - Emkay Global Financial Services Kotak Mahindra Bank (KMB) posted a 7% beat on PAT at Rs25.8bn, mainly owing to better margins and continuation of the contingent-provision drawdown leading to lower LLP, albeit partly offset by higher opex on significantly-higher staff expenses. KMB expects opex to stay elevated, given investment in branches/technology and Mgmt hiring across verticals Credit-growth momentum was strong at 25% YoY/5% QoQ, mainly led by robust growth in mortgages, vehicles and unsecured loans. Bank’s CA...
Buy Kotak Mahindra Bank Ltd For Target Rs.2,230 - Emkay Global Financial Services
Buy Kotak Mahindra Bank Ltd For Target Rs.2,230 - Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
27/10/2022 2:27:57 PM
Buy ICICI Bank For Target Rs.1,170 - Emkay Global Financial Services A performance second to none Bank continues to report strong core profitability, at 25% YoY, on the back of robust credit growth, sharp margin uptick and contained opex. That said, although the bank further shored-up the contingent buffer by Rs15bn, which now stands at Rs100bn/1.1% of loans, it still led to a 2% beat on PAT, which came in at Rs75.6bn. Credit growth was healthy at 23% YoY/5% QoQ, led by strong retail growth of 25% YoY/6% QoQ and continued traction in the SME/BB segment. ...
Buy ICICI Bank For Target Rs.1,170 - Emkay Global Financial Services
Buy ICICI Bank For Target Rs.1,170 - Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
27/10/2022 1:08:27 PM
Computer Age Management Services rises on getting nod to further invest in CAMS Financial Information Services Computer Age Management Services is currently trading at Rs. 2610.25, up by 13.75 points or 0.53% from its previous closing of Rs. 2596.50 on the BSE. The scrip opened at Rs. 2605.05 and has touched a high and low of Rs. 2655.55 and Rs. 2603.90 respectively. So far 3848 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3250.00 on 17-Nov-2021 and a 52 week low of Rs. 2039.00 on 26-May-2022. Last one week high and ...
Computer Age Management Services rises on getting nod to further invest in CAMS Financial Information Services
Computer Age Management Services rises on getting nod to further invest in CAMS Financial Information Services
Source: Accord Fintech
18/10/2022 3:52:37 PM
Zoho One platform sees 64% growth in India in 2 years Zoho Corporation on Wednesday said that its integrated platform Zoho One now supports 50,000 organisations across more than 160 countries and in India, Zoho One has seen 64 per cent growth in the last two years. In India, over 45 per cent of the demand was driven by tier 2 and tier 3 cities, indicating the increase in digitisation of businesses in non-metros. The key sectors contributing to the growth are IT and professional services, BFSI, retail and wholesale, education, and real esta...
Zoho One platform sees 64% growth in India in 2 years
Zoho One platform sees 64% growth in India in 2 years
Source: IANS
12/10/2022 5:02:21 PM
Add Sundaram Finance Ltd For Target Rs. 2,235 - ICICI Securities Growth returning is a positive, focus on market share gain complements the same Sundaram Finance’s (Sundaram) Q1FY23 result was highlighted by growth returning in standalone business (31%/138% QoQ/YoY growth in disbursement). Commentary around market share gain and continuous focus in that direction are positives. Among subsidiaries, Sundaram Home reported strong 5%/2.5% QoQ growth in PPOP/AUM but MTM losses impacted insurance and 9% QoQ AUM decline led to muted AMC performance. Main...
Add Sundaram Finance Ltd For Target Rs. 2,235 - ICICI Securities
Add Sundaram Finance Ltd For Target Rs. 2,235 - ICICI Securities
Source: ICICI Securities Ltd
1/10/2022 12:08:06 PM
Hiring in India up ahead of festive season, records 13% YOY growth  The job market in India picked up pace ahead of the festive season as a report showcased a spurt in hiring activity this month with the Naukri JobSpeak index recording a double-digit growth at over 13 per cent year-on-year (YOY) and over 10 per cent sequential growth. According to the report, maintaining its stellar performance, the insurance sector once again led the charts as it recorded a sequential growth of more than 90 per cent YOY this month. "The JobSpeak Index crossi...
Hiring in India up ahead of festive season, records 13% YOY growth
Hiring in India up ahead of festive season, records 13% YOY growth
Source: IANS
30/09/2022 5:13:49 PM
India BFSI Sector update: Karnataka Yatra: Bengaluru and Tumakuru – key takeaways By ICICI Securities We visited Bengaluru (the topmost credit market in Karnataka, with advance base of ~Rs5trn) and Tumakuru (the 7th largest, Rs112bn) – to interact with key market participants including vehicle dealers, MFIs and SME lenders. Credit-to-deposit ratio in Tumakuru is as high as 98% vs 63% in Bengaluru. Significant takeaways: 2-wheeler dealers: Compared to pre-covid levels, sales volume is currently down for Honda dealership by 35-45% and by 15-20% for Hero. Financing penetration is 50-55%...
India BFSI Sector update: Karnataka Yatra: Bengaluru and Tumakuru – key takeaways By ICICI Securities
India BFSI Sector update: Karnataka Yatra: Bengaluru and Tumakuru – key takeaways By ICICI Securities
Source: ICICI Securities Ltd
28/09/2022 11:56:55 AM
BFSI Sector update - MSME credit: Gauging the demand, origination and credit behaviour pulse By ICICI Securities Gauging MSME credit pulse (Source: TransUnion CIBIL and SIDBI) suggests: i) MSME credit demand has gathered pace to 1.6-1.7x of pre-covid levels; ii) MSME disbursements were up 32% in Fy22 and private banks market share has increased across segments; iii) 55% of new originations in FY22 were in CMR4 to CMR6 (medium risk) and 24% in the CMR1 to CMR3 (low risk) category. 60% of new MSMEs loans originated in FY22 had >78% utilisation levels (high utilisation category); iv) Private banks NPA f...
BFSI Sector update - MSME credit: Gauging the demand, origination and credit behaviour pulse By ICICI Securities
BFSI Sector update - MSME credit: Gauging the demand, origination and credit behaviour pulse By ICICI Securities
Source: ICICI Securities Ltd
19/09/2022 3:11:36 PM
NTT DATA Payment Services gets RBI nod for payment aggregator license Payment service provider NTT DATA Payment Services India (earlier Atom Technologies) on Monday said it has received an in-principle approval from the Reserve Bank of India (RBI) for the Payment Aggregator (PA) license. The company has an annual transaction value of Rs 150,000 crore and a volume of over 10 crore transactions across India. "This significant development also brings us closer to our vision, that is, to develop NTT DATA Payment Services India as one of the top three pay...
NTT DATA Payment Services gets RBI nod for payment aggregator license
NTT DATA Payment Services gets RBI nod for payment aggregator license
Source: IANS
5/09/2022 5:04:42 PM
BFSI Banks - RBI deliberates rationalization of MDR on cards, PPIs and UPI By Emkay Global Financial Services Ltd The RBI has released a discussion paper, calling for suggestions by Oct 3, 2022, on revisiting the charges on different payment systems. Based on the potential suggestions, we believe the Regulator should likely resolve the ongoing conundrum, mainly on rationalization of the otherwise higher MDR on Cards, PPIs and UPI by the year end. Key highlights * Discussion paper seeks to revisit payment charges across payment instruments/modes; would this possibly get the ball rolling for reduction i...
BFSI Banks - RBI deliberates rationalization of MDR on cards, PPIs and UPI By Emkay Global Financial Services Ltd
BFSI Banks - RBI deliberates rationalization of MDR on cards, PPIs and UPI By Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services Ltd
18/08/2022 2:23:08 PM
Banking Sector Update - Accelerating growth, improving asset quality bode well for banks By Emkay Global * Positive surprise on growth, but higher opex, investment MTM hurt PPoP in 1Q: Most banks reported strong credit growth in 1Q, led by healthy traction in retail and even corporate book for some PSBs. However, margin performance was mix, barring Axis Bank and Kotak Bank, which surprised positively on the margin front. Opex turned out to be higher than our expectations due to elevated business expenses, staff increments/incentives, and investment in branches/tech, which kept core profitabil...
Banking Sector Update - Accelerating growth, improving asset quality bode well for banks By Emkay Global
Banking Sector Update - Accelerating growth, improving asset quality bode well for banks By Emkay Global
Source: Emkay Global Financial Services Ltd
13/08/2022 12:18:59 PM
Q1 corporate earnings growth led by BFSI sector: Motilal Oswal The corporate earnings growth during the first quarter of the current fiscal is largely led by the banking, financial services and insurance (BFSI) sector and also helped by credit cost moderation, Motilal Oswal Financial Services Ltd said in a report. Studying the results of corporates tracked by it, Motilal Oswal said that the BFSI sector has driven 124 per cent of the incremental year-on-year (YoY) earnings growth during the 1QFY23 which was largely subdued. Loan growth has spiked fu...
Q1 corporate earnings growth led by BFSI sector: Motilal Oswal
Q1 corporate earnings growth led by BFSI sector: Motilal Oswal
Source: IANS
2/08/2022 5:23:11 PM
Holiday season boosts travel, hospitality with 357% growth in hiring As the holiday season has kicked in, the travel and hospitality sector is witnessing a 357 per cent growth in hiring sentiment, breaking the shackles of the pandemic waves last year, according to a report released on Friday. India showed promising signs of economic recovery in May 2022 with hiring across key sectors witnessing an upward year-on-year trajectory and a stable sequential trend. According to the latest Naukri JobSpeak May '22 Index, the surge in hiring activity stays put...
Holiday season boosts travel, hospitality with 357% growth in hiring
Holiday season boosts travel, hospitality with 357% growth in hiring
Source: IANS
3/06/2022 1:03:13 PM
GajShield aims to build on digital banking momentum in the BFSI sector through its exclusive seminar targeting co-operative banks GajShield Infotech, is an international cybersecurity company, whose deep security expertise is constantly transforming into innovative solutions and services to protect businesses and consumers globally. The company believes in delivering an untroubled network and internet experience by making use of their supreme solutions that enable organizations in countering “Zero-Day Data Threats”. With an aim to enable the BFSI sector in embracing a future-perfect digital world secure...
GajShield aims to build on digital banking momentum in the BFSI sector through its exclusive seminar targeting co-operative banks
GajShield aims to build on digital banking momentum in the BFSI sector through its exclusive seminar targeting co-operative banks
Source: PR Agency
10/01/2022 12:29:05 PM
2022 : An Outlook on Corporate Governance & Compliance of BFSI Industry By Mr. Debashis Roy, Infomatics Services Pvt. Ltd Below is the BFSI industry Outlook 2022 By Mr. Debashis Roy- Director, Infomatics Services Pvt. Ltd The year 2022 will be marked by increased adoption of technology and digital transformation The shock and awe of the global pandemic at the start of 2020 and the subsequent rebound in business in 2021, marked a roller coaster ride for the financial services industry. However, compliance officers were under pressure to adopt annual compliance programs to account ...
2022 : An Outlook on Corporate Governance & Compliance of BFSI Industry By Mr. Debashis Roy, Infomatics Services Pvt. Ltd
2022 : An Outlook on Corporate Governance & Compliance of BFSI Industry By Mr. Debashis Roy, Infomatics Services Pvt. Ltd
Source: PR Agency
17/12/2021 4:34:38 PM