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AU Small Finance Bank jumps on entering into bancassurance tie-ups with Star Health and Bajaj Allianz AU Small Finance Bank is currently trading at Rs. 736.35, up by 11.25 points or 1.55% from its previous closing of Rs. 725.10 on the BSE. The scrip opened at Rs. 726.50 and has touched a high and low of Rs. 736.95 and Rs. 724.25 respectively. So far 17272 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 794.95 on 29-May-2023 and a 52 week low of Rs. 548.15 on 24-Mar-2023. Last one week high and low of the scrip ...
AU Small Finance Bank jumps on entering into bancassurance tie-ups with Star Health and Bajaj Allianz
AU Small Finance Bank jumps on entering into bancassurance tie-ups with Star Health and Bajaj Allianz
Source: Accord Fintech
8/09/2023 3:38:06 PM
Spandana Sphoorty Financial trades higher on raising Rs 100 crore through NCDs Spandana Sphoorty Financial trades higher on raising Rs 100 crore through NCDs Sep-08-2023   12:03 Hrs IST Spandana Sphoorty Financial is currently trading at Rs. 795.95, up by 10.45 points or 1.33 % from its previous closing of Rs. 785.50 on the BSE. The scrip opened at Rs. 788.10 and has touched a high and low of Rs. 798.45 and Rs. 786.50 respectively. So far 4979 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 w...
Spandana Sphoorty Financial trades higher on raising Rs 100 crore through NCDs
Spandana Sphoorty Financial trades higher on raising Rs 100 crore through NCDs
Source: Accord Fintech
8/09/2023 12:49:40 PM
Bajaj Finserv gains as its arm reports gross direct premium underwritten of Rs 1,677.87 crore in August Bajaj Finserv is currently trading at Rs. 1544.75, up by 25.45 points or 1.68% from its previous closing of Rs. 1519.30 on the BSE. The scrip opened at Rs. 1525.05 and has touched a high and low of Rs. 1558.15 and Rs. 1525.05 respectively. So far 36104 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1846.00 on 13-Sep-2022 and a 52 week low of Rs. 1216.10 on 28-Mar-2023. Last one week high and low of the scrip st...
Bajaj Finserv gains as its arm reports gross direct premium underwritten of Rs 1,677.87 crore in August
Bajaj Finserv gains as its arm reports gross direct premium underwritten of Rs 1,677.87 crore in August
Source: Accord Fintech
8/09/2023 11:58:24 AM
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
Buy Bajaj Finance Ltd For Target Rs. 8,800 - Motilal Oswal Financial Services Bajaj Finance (BAF)’s FY23 Annual Report provides insights into the company’s business construct and the different elements of its Long Range Strategy, including its ambition, approach, philosophy, market share, and profit share. The company plans to execute this strategy by increasing business agility, establishing a more efficient cost structure, and expanding its share of wallet within its customer base. * During the challenging period of COVID-19, BAF seized the opportunity...
Buy Bajaj Finance Ltd For Target Rs. 8,800 - Motilal Oswal Financial Services
Buy Bajaj Finance Ltd For Target Rs. 8,800 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
7/09/2023 2:29:29 PM
Buy Five Star Business Finance ltd Target Rs.860 - ICICI Securities Reaching the unreached; niche position in INR 22trn MSME lending Five Star Business Finance’s FY23 annual report provides an insight on how it is progressing towards its vision of “reaching the unreached through suitable credit solution” and capturing the INR 22trn MSME lending opportunity. AUM growth reviving to 37% in FY23 vs 14% CAGR between FY20-22 (covid impact) is a testimony to its agility and business resiliency. In a high human touch model, adherence to standard-...
Buy Five Star Business Finance ltd Target Rs.860 - ICICI Securities
Buy Five Star Business Finance ltd Target Rs.860 - ICICI Securities
Source: ICICI Securities Ltd
6/09/2023 2:14:15 PM
SBI Cards and Payment inches up on launching new product `SimplySAVE Merchant SBI Card` SBI Cards And Payment Services is currently trading at Rs. 834.10, up by 0.30 points or 0.04% from its previous closing of Rs. 833.80 on the BSE. The scrip opened at Rs. 835.05 and has touched a high and low of Rs. 840.75 and Rs. 832.00 respectively. So far 17293 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 982.20 on 20-Sep-2022 and a 52 week low of Rs. 690.90 on 30-Jan-2023. Last one week high and low of th...
SBI Cards and Payment inches up on launching new product `SimplySAVE Merchant SBI Card`
SBI Cards and Payment inches up on launching new product `SimplySAVE Merchant SBI Card`
Source: Accord Fintech
6/09/2023 12:44:21 PM
Shriram Finance gains on raising Rs 85 crore via NCDs Shriram Finance is currently trading at Rs. 1922.80, up by 10.75 points or 0.56% from its previous closing of Rs. 1912.05 on the BSE. The scrip opened at Rs. 1903.95 and has touched a high and low of Rs. 1926.65 and Rs. 1903.95 respectively. So far 979 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1944.45 on 04-Sep-2023 and a 52 week low of Rs. 1147.05 on 27-Sep-2022. Last one week high and low of the scrip s...
Shriram Finance gains on raising Rs 85 crore via NCDs
Shriram Finance gains on raising Rs 85 crore via NCDs
Source: Accord Fintech
6/09/2023 9:53:38 AM
Paytm solidifies in-store payments leadership with 87L devices deployed, MTU grows to 9.4 cr Leading payments and financial services company Paytm on Tuesday announced its business operating performance metrics for quarter to date (July-August period). The fintech giant continues to solidify its leadership of payment monetisation with 87 lakh devices deployed. Witnessing an increase of 4.9 lakh devices in the month, further strengthening its payment monetisation and cementing its leadership in in-store payments. With its groundbreaking innovations, Paytm is bringing newer te...
Paytm solidifies in-store payments leadership with 87L devices deployed, MTU grows to 9.4 cr
Paytm solidifies in-store payments leadership with 87L devices deployed, MTU grows to 9.4 cr
Source: IANS
5/09/2023 11:31:49 AM
Spandana Sphoorty Financial gains on raising Rs 30 crore through NCDs Spandana Sphoorty Financial is currently trading at Rs. 800.10, up by 1.10 points or 0.14% from its previous closing of Rs. 799.00 on the BSE. The scrip opened at Rs. 804.95 and has touched a high and low of Rs. 810.00 and Rs. 795.00 respectively. So far 3681 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 863.00 on 31-Jul-2023 and a 52 week low of Rs. 478.85 on 28-Mar-2023. Last one week high and low of the sc...
Spandana Sphoorty Financial gains on raising Rs 30 crore through NCDs
Spandana Sphoorty Financial gains on raising Rs 30 crore through NCDs
Source: Accord Fintech
5/09/2023 11:03:50 AM
Mahindra Finance trades higher on reporting 15% growth in disbursement during August Mahindra & Mahindra Financial Services is currently trading at Rs. 300.25, up by 4.70 points or 1.59% from its previous closing of Rs. 295.55 on the BSE. The scrip opened at Rs. 299.85 and has touched a high and low of Rs. 301.40 and Rs. 295.55 respectively. So far 57348 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 346.40 on 04-Jul-2023 and a 52 week low of Rs. 176.30 on 28-Sep-2022. Last one week high an...
Mahindra Finance trades higher on reporting 15% growth in disbursement during August
Mahindra Finance trades higher on reporting 15% growth in disbursement during August
Source: Accord Fintech
5/09/2023 10:59:47 AM
Buy Manappuram Finance Ltd For Target Rs.172 - ICICI Securities Well-entrenched franchise, attractive valuations Yield stabilisation in gold loans and turnaround in the MFI business are noteworthy developments in Manappuram Finance (Manappuram). Company has guided for 10-12% gold AUM growth with 21-22% yields while its growth guidance for MFI segment is >30% for FY24. However, rising cost of funds in both the businesses and overall elevated competition in gold loans remain headwinds. Strategically, the company is focussing on diversification (aiming...
Buy Manappuram Finance Ltd For Target Rs.172 - ICICI Securities
Buy Manappuram Finance Ltd For Target Rs.172 - ICICI Securities
Source: ICICI Securities
3/09/2023 9:46:48 AM
NBFC Sector Update : State elections unlikely to derail collection efficiency trend By ICICI Securities State elections unlikely to derail collection efficiency trend Collection efficiency across MFIs under our coverage remained robust during FY23, sustained in Q1FY24 and we believe it would remain robust going ahead despite 4 major state elections – Chhattisgarh & Madhya Pradesh (MP) in Nov’23, and Rajasthan & Telangana – in Dec’23. Cumulative industry AUM exposure in these four states was at 12% of Mar’23 AUM with MP accounting for the highest share at...
NBFC Sector Update : State elections unlikely to derail collection efficiency trend By ICICI Securities
NBFC Sector Update : State elections unlikely to derail collection efficiency trend By ICICI Securities
Source: ICICI Securities
3/09/2023 9:36:50 AM
Buy Ujjivan Small Finance Bank Ltd For Target Rs. 50 - JM Financial Institutional Securities Ujjivan SFB recorded a strong operational quarter with beat on PAT at INR 3.2bn (+15% JMFe, +60% YoY, +5% QoQ) supported by robust NII growth (+32% YoY, +7% QoQ) and steady other income (+42% YoY, -1% QoQ). NIMs stood at 9.2% (+10bps QoQ) supported by a) increase in yields (+20bps QoQ) and b) reduction in excess liquidity. Mgmt. remains confident of maintaining NIMs c.9% by passing rate hikes to customers (40% of the loan book yet to be repriced by 100bps) even with expected increase in CoF. ...
Buy Ujjivan Small Finance Bank Ltd For Target Rs. 50 - JM Financial Institutional Securities
Buy Ujjivan Small Finance Bank Ltd For Target Rs. 50 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
2/09/2023 2:06:50 PM
Add PB Fintech Ltd For Target Rs.818 - ICICI Securities Better claims experience: A business moat warranting high multiples Better claims experience serves as a strong business moat for PB Fintech (PB). This, along with the merits of cumulative renewal business and developing a track record of fixed-cost salience, should help sustain high valuation multiples, while increasing monetisation of the channel through the complementary Feet on Street initiative should help earnings growth. We maintain ADD on PB Fintech. Our DCF-based target price stan...
Add PB Fintech Ltd For Target Rs.818 - ICICI Securities
Add PB Fintech Ltd For Target Rs.818 - ICICI Securities
Source: ICICI Securities
1/09/2023 2:39:00 PM
Finkurve Financial Services surges on collaborating with Indian Bank Finkurve Financial Services is currently trading at Rs. 84.65, up by 2.67 points or 3.26% from its previous closing of Rs. 81.98 on the BSE. The scrip opened at Rs. 85.45 and has touched a high and low of Rs. 85.45 and Rs. 80.10 respectively. So far 2313 shares were traded on the counter. The BSE group 'X' stock of face value Rs. 1 has touched a 52 week high of Rs. 103.90 on 02-Jun-2023 and a 52 week low of Rs. 47.10 on 11-Oct-2022. Last one week high and low of the scrip sto...
Finkurve Financial Services surges on collaborating with Indian Bank
Finkurve Financial Services surges on collaborating with Indian Bank
Source: Accord Fintech
31/08/2023 12:35:30 PM
Capital Small Finance Bank elevates Mr. Munish Jain as Whole Time Director Capital Small Finance Bank Limited, announced the appointment of Mr. Munish Jain as the Whole Time Director (designated as Executive Director). The Reserve Bank of India has approved his appointment as Whole Time Director for a period of 3 years with effect from August 28, 2023. In his new role, Mr. Jain will contribute to the bank's strategic growth and play a pivotal role in shaping its growth landscape. He has been associated with Capital Small Finance Bank since the year 2000, pr...
Capital Small Finance Bank elevates Mr. Munish Jain as Whole Time Director
Capital Small Finance Bank elevates Mr. Munish Jain as Whole Time Director
Source: PR Agency
30/08/2023 5:49:44 PM
UGRO Capital gains on getting nod to raise funds through NCDs Ugro Capital is currently trading at Rs. 303.10, up by 2.90 points or 0.97% from its previous closing of Rs. 300.20 on the BSE. The scrip opened at Rs. 307.00 and has touched a high and low of Rs. 307.00 and Rs. 300.90 respectively. So far 3111 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 319.85 on 22-Aug-2023 and a 52 week low of Rs. 136.00 on 23-Dec-2022. Last one week high and low of the scrip stood at Rs...
UGRO Capital gains on getting nod to raise funds through NCDs
UGRO Capital gains on getting nod to raise funds through NCDs
Source: Accord Fintech
30/08/2023 3:46:18 PM
Shriram Housing Finance Partners with IFC to Promote Green Affordable Housing Finance in India Shriram Housing Finance Limited (SHFL), a leading affordable housing finance company, and International Finance Corporation (IFC), a member of the World Bank, today announced a partnership to launch an affordable green housing lending product for self-constructed homes. The project will deploy IFC’s Excellence in Design for Greater Efficiency (EDGE) certification tool for the affordable self-construction segment customers and impact monitoring tool (CAFI) for reporting of green affordab...
Shriram Housing Finance Partners with IFC to Promote Green Affordable Housing Finance in India
Shriram Housing Finance Partners with IFC to Promote Green Affordable Housing Finance in India
Source: PR Agency
29/08/2023 2:53:54 PM
UGRO Capital rises on getting nod to raise Rs 40 crore via commercial papers Ugro Capital is currently trading at Rs. 304.95, up by 1.20 points or 0.40% from its previous closing of Rs. 303.75 on the BSE. The scrip opened at Rs. 308.85 and has touched a high and low of Rs. 308.85 and Rs. 299.00 respectively. So far 13987 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 319.85 on 22-Aug-2023 and a 52 week low of Rs. 136.00 on 23-Dec-2022. Last one week high and low of the scrip stood at R...
UGRO Capital rises on getting nod to raise Rs 40 crore via commercial papers
UGRO Capital rises on getting nod to raise Rs 40 crore via commercial papers
Source: Accord Fintech
29/08/2023 12:43:35 PM
Buy Can Fin Homes Ltd For Target Rs. 935- ICICI Direct Structural transformation to aid long term performance About the stock: CanFin Homes (CFHL) was promoted by Canara Bank in 1987, with ~30% stake as of June 2023. The HFC is spread across 205 locations across 21 states and UTs with south contributing ~72% of loans and focus on tier II & III cities. Most borrowers are first time home buyers with average age of 35 years. • Housing loans comprise ~90% of advances of which ~74% is to salaried customers • The company caters t...
Buy Can Fin Homes Ltd For Target Rs. 935- ICICI Direct
Buy Can Fin Homes Ltd For Target Rs. 935- ICICI Direct
Source: ICICI Direct
28/08/2023 11:19:46 AM
Moneyboxx Finance gains on getting nod to raise funds up to Rs 7.5 crore through NCDs Moneyboxx Finance is currently trading at Rs. 161.00, up by 0.50 points or 0.31% from its previous closing of Rs. 160.50 on the BSE. The scrip opened at Rs. 161.40 and has touched a high and low of Rs. 161.40 and Rs. 161.00 respectively. So far 514 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 199.00 on 07-Dec-2022 and a 52 week low of Rs. 125.25 on 16-Mar-2023. Last one week high and low of the scrip stood a...
Moneyboxx Finance gains on getting nod to raise funds up to Rs 7.5 crore through NCDs
Moneyboxx Finance gains on getting nod to raise funds up to Rs 7.5 crore through NCDs
Source: Accord Fintech
28/08/2023 11:05:17 AM
RBI Governor underlines need for strengthening of governance standards Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday emphasised on strengthening governance standards. Addressing a meeting of managing directors and chiefs of select non-banking finance companies (NBFCs) and housing finance companies (HFCs), Das said that governance standards and assurance mechanisms such as compliance, risk management and internal audit should be made stronger, reads a statement issued by the RBI.  In the meeting, which was held in Mumbai, ways to conta...
RBI Governor underlines need for strengthening of governance standards
RBI Governor underlines need for strengthening of governance standards
Source: IANS
26/08/2023 9:14:26 AM
NBFC-MFI CreditAccess Grameen`s NCD Tranche II Issue receives a healthy response with total subscriptions surpassing 2.0 times the base issue size of INR 400 crore The NCD Tranche II Issue of CreditAccess Grameen Ltd. which opened on 24th August 2023, has received a healthy response with total subscriptions surpassing 2.0 times the base issue size of INR 400 crore, as of 2.00 pm on 25th August 2023. Considering the strong investor demand, the company is expected to exercise the green shoe option to retain oversubscription up to an additional INR 600 crore over and above the base issue size.    Above views are of the author and not of the...
NBFC-MFI CreditAccess Grameen`s NCD Tranche II Issue receives a healthy response with total subscriptions surpassing 2.0 times the base issue size of INR 400 crore
NBFC-MFI CreditAccess Grameen`s NCD Tranche II Issue receives a healthy response with total subscriptions surpassing 2.0 times the base issue size of INR 400 crore
Source: PR Agency
25/08/2023 4:07:20 PM
India`s Jio Financial recovers after hitting lower limit for five sessions Shares of India's Jio Financial Services (JFS) on Friday rose for the first time since its market debut on Monday, having hit its lower trading limit for five sessions. The stock rose as much as 4.7%, after opening down 5%. It swung repeatedly between gains and losses in extremely volatile trading and was last down 0.2% at 213.10 as of 11:19 a.m. IST (0549 GMT). Spun out of billionaire Mukesh Ambani's Reliance Industries, JFS was valued at around $20 billion during a "price...
India`s Jio Financial recovers after hitting lower limit for five sessions
India`s Jio Financial recovers after hitting lower limit for five sessions
Source: Reuters
25/08/2023 12:46:11 PM
Buy Ujjivan Small Finance Bank Ltd For Target Rs. 62 - Geojit Financial Services Ltd Strong business momentum to continue. Ujjivan Small Finance Bank Ltd., a wholly owned subsidiary of Ujjivan Financial Services Ltd. (USFL), serves over 76 lakh customers through 661 branches. USFL is the 3rd largest SFB with a loan book size of Rs.25,326cr and a deposit base of Rs.26,660cr. * Advance growth is expected to remain strong at 25%, led by both microfinance and non-MF book with strong customer addition and brand building strategies. * Considering strong loan growth, an imp...
Buy Ujjivan Small Finance Bank Ltd For Target Rs. 62 - Geojit Financial Services Ltd
Buy Ujjivan Small Finance Bank Ltd For Target Rs. 62 - Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
25/08/2023 12:34:39 PM
Buy M&M Financial Services Ltd For Target Rs. 370 - Motilal Oswal Financial Services Ltd In the midst of transformation, yield moderation a concern Stark NIM compression and elevated credit costs lead to a weak quarter * Mahindra & Mahindra Financial (MMFS)’s 1QFY24 PAT grew 58% YoY to INR3.5b (23% miss). Net Total Income (reported NII) stood at INR16.7b (6% miss) and rose 7% YoY while PPoP at ~INR10b (5% miss) grew 6% YoY. * Annualized credit costs of ~2.5% (PY: 3.9%) were higher than expectations and included ~INR3.3b in write-offs and ~INR2.0b in provisions....
Buy M&M Financial Services Ltd For Target Rs. 370 - Motilal Oswal Financial Services Ltd
Buy M&M Financial Services Ltd For Target Rs. 370 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
25/08/2023 12:25:26 PM
Anupam Finserv gains on entering into alliance agreement with BG Networks Anupam Finserv is currently trading at Rs. 1.56, up by 0.01 points or 0.65% from its previous closing of Rs. 1.55 on the BSE. The scrip opened at Rs. 1.57 and has touched a high and low of Rs. 1.59 and Rs. 1.52 respectively. So far 218103 shares were traded on the counter. The BSE group 'X' stock of face value Rs. 1 has touched a 52 week high of Rs. 3.19 on 12-Sep-2022 and a 52 week low of Rs. 1.33 on 14-Jul-2023. Last one week high and low of the scrip stood at Rs. 1.59 and ...
Anupam Finserv gains on entering into alliance agreement with BG Networks
Anupam Finserv gains on entering into alliance agreement with BG Networks
Source: Accord Fintech
24/08/2023 2:56:19 PM
CreditAccess Grameen jumps on eyeing around 25% growth in loan sales in FY24 CreditAccess Grameen is currently trading at Rs. 1401.00, up by 27.20 points or 1.98% from its previous closing of Rs. 1373.80 on the BSE. The scrip opened at Rs. 1362.05 and has touched a high and low of Rs. 1409.80 and Rs. 1362.05 respectively. So far 7887 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1502.30 on 01-Aug-2023 and a 52 week low of Rs. 834.10 on 31-Jan-2023. Last one week high and low of the sc...
CreditAccess Grameen jumps on eyeing around 25% growth in loan sales in FY24
CreditAccess Grameen jumps on eyeing around 25% growth in loan sales in FY24
Source: Accord Fintech
24/08/2023 2:48:47 PM
NBFC Sector Update : In 1QFY24, our NBFC coverage universe reported 45% YoY growth in PAT led by 19% YoY AUM growth - JM Financial Institutional Securities In 1QFY24, our NBFC coverage universe reported 45% YoY growth in PAT led by 19% YoY AUM growth, 25% YoY PPOP growth. NII was up 24% YoY for the coverage universe. NIMs though exhibited mixed trends – NBFC-MFIs saw an expansion in NIMs (with 47bps QoQ improvement led by benefit of lending rate hikes) while vehicle financiers (VFs) witnessed 37bps QoQ compression. Diversified financiers (incl BAF) and AHFCs saw largely stable NIMs on a sequential basis. Large HFCs benefitted with better a...
NBFC Sector Update : In 1QFY24, our NBFC coverage universe reported 45% YoY growth in PAT led by 19% YoY AUM growth - JM Financial Institutional Securities
NBFC Sector Update : In 1QFY24, our NBFC coverage universe reported 45% YoY growth in PAT led by 19% YoY AUM growth - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
23/08/2023 11:48:21 AM
Indel Money Reports Strong Q1 Results with Rs 21 Crore Profit Indel Money, the flagship company of Indel Corporation and a non-banking finance company (NBFC), has announced its financial results for the first quarter of FY24, posting a robust profit of INR 21 crore, which is quarter on quarter growth of 63%.The company's outstanding performance demonstrates its commitment to sustainable growth and operational efficiency and overall resilience in gold loan demand. The company's AUM grew 61% year-on-year during the same quarter to INR 1294.44 c...
Indel Money Reports Strong Q1 Results with Rs 21 Crore Profit
Indel Money Reports Strong Q1 Results with Rs 21 Crore Profit
Source: PR Agency
21/08/2023 3:26:14 PM
Bajaj Finance climbs on raising Rs 304.21 crore via NCDs Bajaj Finance is currently trading at Rs. 7042.00, up by 180.30 points or 2.63% from its previous closing of Rs. 6861.70 on the BSE. The scrip opened at Rs. 6835.00 and has touched a high and low of Rs. 7046.00 and Rs. 6805.00 respectively. So far 16060 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 7999.90 on 05-Jul-2023 and a 52 week low of Rs. 5487.25 on 20-Mar-2023. Last one week high and low of the scrip s...
Bajaj Finance climbs on raising Rs 304.21 crore via NCDs
Bajaj Finance climbs on raising Rs 304.21 crore via NCDs
Source: Accord Fintech
21/08/2023 12:36:48 PM
NBFC-MFI CreditAccess Grameen`s NCD Tranche II Issue will open on August 24, 2023 coming Thursday Coupon Rate up to 9.70 %p.a. Effective Yield up to 10.13%p.a. The base size of the NCD Issue is Rs. 400 crore with an option to retain oversubscription up to Rs. 600 crore aggregating up to Rs. 1,000 crore. The company had successfully raised Rs. 500 crore last year (Nov 2022) through Tranche I which was subscribed 3.03x times of the base size issue. The NCDs are proposed to be listed on BSE Limited and NSE Limited. The company has a market capitalisation of over Rs. 21,500 crore. &n...
NBFC-MFI CreditAccess Grameen`s NCD Tranche II Issue will open on August 24, 2023 coming Thursday
NBFC-MFI CreditAccess Grameen`s NCD Tranche II Issue will open on August 24, 2023 coming Thursday
Source: PR Agency
21/08/2023 11:24:06 AM
CreditAccess Grameen moves up on getting nod to raise upto Rs 1,000 crore through NCDs CreditAccess Grameen is currently trading at Rs. 1376.65, up by 7.60 points or 0.56% from its previous closing of Rs. 1369.05 on the BSE. The scrip opened at Rs. 1370.05 and has touched a high and low of Rs. 1398.00 and Rs. 1370.05 respectively. So far 1291 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1502.30 on 01-Aug-2023 and a 52 week low of Rs. 834.10 on 31-Jan-2023. Last one week high and low of the scr...
CreditAccess Grameen moves up on getting nod to raise upto Rs 1,000 crore through NCDs
CreditAccess Grameen moves up on getting nod to raise upto Rs 1,000 crore through NCDs
Source: Accord Fintech
21/08/2023 10:16:17 AM
Buy Repco Home Finance Ltd For Target Rs.450 - Yes Securities Stronger on all fronts Repco’s NIII/PPOP/PAT were 3%/3%/6% ahead of our estimates driven by betterthan-expected loan growth, NIM and asset quality. Key highlights of the quarter were a) 20% yoy disbursement growth on like-to-like basis, 2) sustained moderation in BT Out, 3) NIM expansion of 10 bps qoq aided by significant improvement in portfolio yield (transmission of MLR hikes through six-monthly repricing), 4) abs. Rs250mn reduction in GNPLs without write-offs and 5) delivery of s...
Buy Repco Home Finance Ltd For Target Rs.450 - Yes Securities
Buy Repco Home Finance Ltd For Target Rs.450 - Yes Securities
Source: Yes Securities Ltd
19/08/2023 10:36:35 AM
Buy Aavas Financiers Ltd For Target Rs.1,800 - ICICI Securities Muted quarter but transitory in nature; IT transformation and management stability reinforce our view that company is likely to sustain its industry-leading position in AHFC space The past six months have been challenging for Aavas Financiers (Aavas) mainly due to top-management change. Despite concerns over its growth trajectory due to the apex-level change as well as IT transformation and NIM compression, the company’s performance in Q1FY24 reinforces our view that it will remain i...
Buy Aavas Financiers Ltd For Target Rs.1,800 - ICICI Securities
Buy Aavas Financiers Ltd For Target Rs.1,800 - ICICI Securities
Source: ICICI Securities
19/08/2023 9:51:03 AM
Bajaj Finance Fixed Deposits cross Rs 50,000 crore Bajaj Finance Limited, one of India’s leading and diversified Non-Banking Financial Company, and part of Bajaj Finserv, today said its Fixed Deposits book had crossed a milestone of Rs. 50,000 crore. Bajaj Finance has half a million depositors, with each depositor having placed 2.87 deposits, totalling 1.4 million deposits. Bajaj Finance has the highest credit rating of AAA/Stable for its long-term debt programme from CRISIL, ICRA, CARE and India Ratings, A1+ for its short-te...
Bajaj Finance Fixed Deposits cross Rs 50,000 crore
Bajaj Finance Fixed Deposits cross Rs 50,000 crore
Source: PR Agency
18/08/2023 6:25:18 PM
Buy Manappuram Finance Ltd For Target Rs. 175 - Yes Securities Ltd A wholesome beat on earnings; significant yield increases across businesses Manappuram delivered 9%/18%/10% NII/PPOP/PAT beat versus our expectations on stronger AUM growth (up 4.6% qoq/20.6% yoy), substantial margin improvement despite material increases in CoF and modest sequential growth in opex. The earnings beat came in notwithstanding the incurrence of higher credit cost (annualized 3.9%) in Asirvad MFI to address the slippages and higher writing-offs. Consolidated RoA/RoE stood at 5...
Buy Manappuram Finance Ltd For Target Rs. 175 - Yes Securities Ltd
Buy Manappuram Finance Ltd For Target Rs. 175 - Yes Securities Ltd
Source: Yes Securities Ltd
17/08/2023 12:46:43 PM
Banks` lending to NBFCs rises 35.1% to Rs 14.2 lakh crore in June 2023: Care Ratings Care Ratings in its latest report has said that banks' lending to non-banking finance companies (NBFCs) rose by a robust 35.1 per cent to Rs 14.2 lakh crore in June 2023, indicating non-banking finance firms' decreased reliance on international borrowings. This also pushed up NBFCs' share in overall credit from 8.5 per cent in June 2022 to 9.9 per cent in the reporting month.  According to the report, mutual funds' debt exposure to NBFCs, including through commercial p...
Banks` lending to NBFCs rises 35.1% to Rs 14.2 lakh crore in June 2023: Care Ratings
Banks` lending to NBFCs rises 35.1% to Rs 14.2 lakh crore in June 2023: Care Ratings
Source: Accord Fintech
17/08/2023 12:10:28 PM
SBFC Finance lists with 43.84% premium on the BSE SBFC Finance has debuted at Rs 81.99 on the BSE, up by 24.99 points or 43.84% from its issue price of Rs 57. The scrip is currently trading at Rs 92.70, up by 35.70 points or 62.63% from its issue price. It has touched a high and low of Rs 94.60 and Rs 81.99 respectively. So far 92.13 lakh shares were traded on the counter. The offering, which was open for subscription between August 3, 2023 and August 7, 2023 was subscribed 70.16 times. The issue price was fixed at Rs 57 per share i.e....
SBFC Finance lists with 43.84% premium on the BSE
SBFC Finance lists with 43.84% premium on the BSE
Source: Accord Fintech
16/08/2023 1:42:15 PM
Buy Max Financial Services Ltd Target Rs. 1,075 - Yes Securities Axis deal to enhance capital ratio by ~40% points Result Highlights (See “Our View” below for elaboration and insight) * VNB margin: Calculated VNB margin for 1QFY24 fell -815bps QoQ but rose 108bps YoY to 22.2% * VNB growth: VNB de-growth/growth was at -67.9%/16% QoQ/YoY where the YoY growth was driven by the growth in APE and VNB margin expansion * APE growth: New business APE de-grew/grew by -56.1%/10.3% QoQ/YoY, driven higher YoY by growth in Indi. Protection and N...
Buy Max Financial Services Ltd Target Rs. 1,075 - Yes Securities
Buy Max Financial Services Ltd Target Rs. 1,075 - Yes Securities
Source: Yes Securities Ltd
16/08/2023 12:58:33 PM
Buy Bharat Forge Ltd For Target Rs. 85 - ICICI Direct Play on infrastructure growth available at lower valuation … About the stock: HUDCO, a Miniratna company, plays a key role in various government’s schemes to develop Indian housing & urban infrastructure sector. HUDCO is one of the nominated nodal agency for subsidy to beneficiaries under credit-linked subsidy scheme. • As of June 2023, AUM stands at ?79875 crore with 96.88% of loan book to government agencies • Operations spread across India with 21 region...
Buy Bharat Forge Ltd For Target Rs. 85 - ICICI Direct
Buy Bharat Forge Ltd For Target Rs. 85 - ICICI Direct
Source: ICICI Direct
15/08/2023 11:49:32 AM
Mid Cap : Accumulate CreditAccess Grameen Ltd For Target Rs.1,615 - Geojit Financial Strong growth outlook with premium ROA CreditAccess Grameen Limited (CAGL) is one of the leading Microfinance NBFCs in India with a high focus on Group lending and Retail finance, with the majority of its operations in South India. • Gross Loan Portfolio (GLP) grew at a strong 39.7% YoY to Rs.21,814cr on the back of 122.3% YoY disbursement growth. • Management aims to touch a GLP of Rs.50,000cr in the next 4 to 5 years by leveraging its solid foundation and leadership posit...
Mid Cap : Accumulate CreditAccess Grameen Ltd For Target Rs.1,615 - Geojit Financial
Mid Cap : Accumulate CreditAccess Grameen Ltd For Target Rs.1,615 - Geojit Financial
Source: Geojit Financial Services
15/08/2023 10:52:25 AM
Buy UGRO Capital Limited Target Price Rs.361 - Ajcon Global Services Ltd Investment Rationale and recommendation We recommend a "Buy" with a target price of INR 361.75 (P/BV multiple of 2.50 x at Q1FY24 Book Value of INR 144.7 (post QIP and Preferential issue). We believe the Company deserves a premium in valuation due to the following factors: UGRO Capital is DataTech driven NBFC and pioneer of Lending as a service (L-a-a-S) which is a highly profitable model; 2) Emerged as one of the fastest-growing and one of the largest Lending-as-a-Service ...
Buy UGRO Capital Limited Target Price Rs.361 - Ajcon Global Services Ltd
Buy UGRO Capital Limited Target Price Rs.361 - Ajcon Global Services Ltd
Source: Ajcon Global Services Ltd
15/08/2023 10:42:22 AM
Add PB Fintech Ltd For Target Rs.818 - ICICI Securities Strong growth outlook in insurance/credit, cost performance stands out in Q1FY24 PB Fintech’s (PBF) Q1FY24 performance continued to track along the expected lines of premium growth, credit disbursement growth, stable contribution margins, range-bound fixed costs and controlled losses in new initiatives. The roadmap remains to become profitable in FY24 and attain ~INR 9bn-10bn in adjusted EBITDA/PAT by FY27. The crux of the business remains an exponential increase in contribution driv...
Add PB Fintech Ltd For Target Rs.818 - ICICI Securities
Add PB Fintech Ltd For Target Rs.818 - ICICI Securities
Source: ICICI Securities
14/08/2023 12:40:01 PM
Buy Fusion Micro Finance For Target Rs 720 -JM Financial Institutional Securities Ltd Fusion reported an in-line operating quarter with PPOP at INR 2.35bn (+6.5% QoQ, +96% YoY) driven by a) healthy AUM growth of +4.5% QoQ, +31% YoY, aided by robust disbursements (+15% YoY), b) 32bps QoQ NIMs expansion to 10.9% and c) higher other income (+30% QoQ) driven by cross-sell, despite slightly elevated opex levels (+7% QoQ, +38% YoY). However, PAT was at INR 1.2bn (+5% QoQ) impacted by higher provision costs (3.2% annualised) driven by a) high write-offs of INR 0.6bn and b) increase i...
Buy Fusion Micro Finance For Target Rs 720 -JM Financial Institutional Securities Ltd
Buy Fusion Micro Finance For Target Rs 720 -JM Financial Institutional Securities Ltd
Source: JM Financial Institutional Securities
13/08/2023 3:54:27 PM
Neutral Muthoot Finance Ltd For Target Rs.1,290 - Motilal Oswal Healthy gold loan growth but NIM compression leads to earnings miss * Muthoot Finance (MUTH)’s 1QFY24 performance was characterized by: 1) healthy gold loan growth at ~7% QoQ to reach ~INR660b, 2) ~70bp QoQ contraction in NIM; 3) higher ECL provisioning due to rise in Stage 2 and Stage 3; and 4) a moderation in cost-to-income ratio to ~29% (PY: ~35%) primarily owing to higher NII and lower advertisement & publicity expenses. * Standalone PAT grew ~22% YoY to ~INR9.75b (5% miss...
Neutral Muthoot Finance Ltd For Target Rs.1,290 - Motilal Oswal
Neutral Muthoot Finance Ltd For Target Rs.1,290 - Motilal Oswal
Source: Motilal Oswal Financial Services
13/08/2023 2:50:14 PM
Quote on ONDC which can have a longer-term impact on the business model of banks and NBFCs by Mr. Kaushik Mehta, Ruloans Distribution Below the Quote on ONDC which can have a longer-term impact on the business model of banks and NBFCs from Mr. Kaushik Mehta, Founder & CEO of Ruloans Distribution Pvt Ltd.   The Reserve Bank of India has taken into cognizance the upside risks to inflation emerging from higher global food prices accruing from adverse climate events and also the recent hardening in crude oil prices. MPC has revised its average inflation forecast to 5.4% in FY24 from 5.1% earli...
Quote on ONDC which can have a longer-term impact on the business model of banks and NBFCs by Mr. Kaushik Mehta, Ruloans Distribution
Quote on ONDC which can have a longer-term impact on the business model of banks and NBFCs by Mr. Kaushik Mehta, Ruloans Distribution
Source: PR Agency
12/08/2023 3:41:01 PM