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Buy PNB Housing Ltd For Target Rs.1,160 By Motilal Oswal Financial Services Ltd Strategic shift in product mix; tracking well on execution Mix improvement to aid NIM expansion; recoveries to keep credit costs benign * PNBHF is pivoting its product mix toward the emerging and affordable housing segments, with both these relatively higher-yielding segments now contributing ~23% to the loan mix (compared to ~18% as of Mar’23). This pivot will gradually help the company secure a structural improvement in its blended yields and eventually deliver an expansion in ...
Buy PNB Housing Ltd For Target Rs.1,160 By Motilal Oswal Financial Services Ltd
Buy PNB Housing Ltd For Target Rs.1,160 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-12-24 11:39:59 am
DOQFY wins `Best Technology Provider for BFSI` at the 18th NBFC & FinTech Conclave & Awards Doqfy, a Software as a Service (SaaS) platform for contract execution, has been recently awarded at the esteemed 18th NBFC & FinTech Conclave & Awards 2024 in the category "Best Technology Provider for BFSI".This accomplishment underscores Doqfy’s commitment to provide efficient solutions in streamlining compliance and contract management. The NBFCs & Fintech Conclave and Awards is one of the leading events that explores various facets of technology from present...
DOQFY wins `Best Technology Provider for BFSI` at the 18th NBFC & FinTech Conclave & Awards
DOQFY wins `Best Technology Provider for BFSI` at the 18th NBFC & FinTech Conclave & Awards
Source: PR Agency
2024-12-23 01:58:47 pm
Shriram Finance Limited Achieves significant Milestone with Largest MultiCurrency Syndicated Loan by a NBFC for USD 1.277 billion equivalent Shriram Finance Limited (SFL), the flagship company of the Shriram Group, has reached a historic milestone by successfully raising USD 1.277 billion equivalent in multiple currencies, including USD, EUR, and AED, through a notable External Commercial Borrowing (ECB) loan transaction. This landmark deal, executed in partnership with 12 leading banks, including prominent development institutions such as the International Finance Corporation, features tenors of up to five years. Not only does th...
Shriram Finance Limited Achieves significant Milestone with Largest MultiCurrency Syndicated Loan by a NBFC for USD 1.277 billion equivalent
Shriram Finance Limited Achieves significant Milestone with Largest MultiCurrency Syndicated Loan by a NBFC for USD 1.277 billion equivalent
Source: PR Agency
2024-12-22 09:40:49 am
India`s Shriram Finance targets 50 billion rupees AUM for green lending vertical in 3-4 years India's non-banking finance company Shriram Finance has consolidated its green finance business under Shriram Green Finance, it said on Friday, and targeted assets under management (AUM) of 50 billion rupees ($588 million) over the next three to four years under the portfolio. The green finance vertical will be built through financing electric vehicles (EV), including two-wheelers, battery charging stations and renewable energy products, among others, the company said. The focus is ...
India`s Shriram Finance targets 50 billion rupees AUM for green lending vertical in 3-4 years
India`s Shriram Finance targets 50 billion rupees AUM for green lending vertical in 3-4 years
Source: Reuters
2024-12-21 10:33:25 am
Financials Sector Update : ICRA Webinar on NBFC-MFIs sector outlook By Motilal Oswal Financial Services Ltd FY25 AUM growth to decline to 0-5%; Credit cost to peak at 5.4%-5.6% The MFI and unsecured lending space are currently navigating a difficult landscape, characterized by a significant rise in bad loans. This trend has raised alarms about overleveraging and prompted warnings from regulators. RBI has implemented measures such as raising risk weights, while the MFIN has introduced tighter controls to rein in loan growth. ICRA hosted a webinar to discuss MFI industry trends, asset quality, and pr...
Financials Sector Update : ICRA Webinar on NBFC-MFIs sector outlook By Motilal Oswal Financial Services Ltd
Financials Sector Update : ICRA Webinar on NBFC-MFIs sector outlook By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-19 11:40:34 am
India’s banking sector poised for continued resilience: S&P Global India’s financial sector is poised for continued resilience, bolstered by structural improvements and robust economic growth prospects, according to the S&P Global Ratings 2025 banking outlook.  “We anticipate asset quality will stabilize, with weak loans in the banking sector projected to decline to approximately 3.0 per cent of gross loans by March 31, 2025. This positive trend is supported by healthy corporate balance sheets and enhanced risk management practices,&r...
India’s banking sector poised for continued resilience: S&P Global
India’s banking sector poised for continued resilience: S&P Global
Source: IANS
2024-12-16 02:34:59 pm
Prime Securities rises on acquiring 41.68% stake in Ark Neo Financial Services Prime Securities is currently trading at Rs. 296.00, up by 3.65 points or 1.25% from its previous closing of Rs. 292.35 on the BSE. The scrip opened at Rs. 286.70 and has touched a high and low of Rs. 300.40 and Rs. 286.70 respectively. So far 1507 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 359.20 on 11-Nov-2024 and a 52 week low of Rs. 152.25 on 14-Mar-2024. Last one week high and low of the scrip stood at...
Prime Securities rises on acquiring 41.68% stake in Ark Neo Financial Services
Prime Securities rises on acquiring 41.68% stake in Ark Neo Financial Services
Source: Accord Fintech
2024-12-13 10:05:16 am
UGRO Capital jumps on securing patent for proprietary credit scoring model Ugro Capital is currently trading at Rs. 249.55, up by 3.10 points or 1.26% from its previous closing of Rs. 246.45 on the BSE. The scrip opened at Rs. 247.05 and has touched a high and low of Rs. 257.30 and Rs. 246.70 respectively. So far 4989 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 314.85 on 03-May-2024 and a 52 week low of Rs. 213.15 on 27-Mar-2024. Last one week high and low of the scrip stood at Rs...
UGRO Capital jumps on securing patent for proprietary credit scoring model
UGRO Capital jumps on securing patent for proprietary credit scoring model
Source: Accord Fintech
2024-12-11 03:02:07 pm
NBFC Sector Update : Risk management and regulatory compliance more important than ever By Motilal Oswal Financial Services Ltd Risk management and regulatory compliance more important than ever Loan growth outlook slightly weakens; asset quality a key monitorable We attended an NBFC industry seminar hosted by CRISIL Ratings, featuring various industry experts who shared their insights on the overall NBFC sector, mortgage financiers, vehicle financiers and diversified/specialized lenders. Here are the key takeaways from the seminar: 1) NBFCs’ AUM growth could moderate to ~15%-17% in FY25 and FY26 from stro...
NBFC Sector Update : Risk management and regulatory compliance more important than ever By Motilal Oswal Financial Services Ltd
NBFC Sector Update : Risk management and regulatory compliance more important than ever By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-12-10 12:28:09 pm
Sell Manappuram Finance Ltd For Target Rs. 152 By Geojit Financial Services Ltd Ongoing Weak Performance to Persist Manappuram Finance Ltd. (MGFL) is one of the leading gold loan NBFCs in India. MGFL has also diversified into other business segments like housing loan, vehicle loan and microfinance, with a branch network size of around 5,000 spread across the country. * MGFL's total AUM grew 17% YoY to Rs. 45,716cr, with gold loan AUM rising to Rs. 24,365cr (+17% YoY) in Q2 FY25. * Asirvad, MGFL's microfinance subsidiary, shows 11% YoY AUM increase to Rs....
Sell Manappuram Finance Ltd For Target Rs. 152 By Geojit Financial Services Ltd
Sell Manappuram Finance Ltd For Target Rs. 152 By Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
2024-12-07 12:03:37 pm
Muthoot Capital Services rises on getting nod to raise Rs 90 crore via NCDs Muthoot Capital Services is currently trading at Rs. 370.00, up by 3.50 points or 0.95% from its previous closing of Rs. 366.50 on the BSE. The scrip opened at Rs. 368.00 and has touched a high and low of Rs. 370.35 and Rs. 363.15 respectively. So far 1670 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 424.95 on 26-Dec-2023 and a 52 week low of Rs. 265.00 on 27-Mar-2024. Last one week high and low of the scrip...
Muthoot Capital Services rises on getting nod to raise Rs 90 crore via NCDs
Muthoot Capital Services rises on getting nod to raise Rs 90 crore via NCDs
Source: Accord Fintech
2024-12-06 03:20:52 pm
Axis MF introduces CRISIL-IBX AAA Bond NBFC-HFC - Jun 2027 Index Fund Axis Mutual Fund has launched Axis CRISIL-IBX AAA Bond NBFC-HFC - Jun 2027 Index Fund, an open-ended Target Maturity Index Fund investing in constituents of CRISIL-IBX AAA NBFC-HFC Index - Jun 2027 with moderate interest rate risk and relatively low credit risk. The NFO opens for subscription on December 06, 2024 and closes on December 10, 2024. The Entry Load is not applicable and the Exit Load is nil for the scheme. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereo...
Axis MF introduces CRISIL-IBX AAA Bond NBFC-HFC - Jun 2027 Index Fund
Axis MF introduces CRISIL-IBX AAA Bond NBFC-HFC - Jun 2027 Index Fund
Source: Accord Fintech
2024-12-06 12:43:20 pm
ICRA highlights significant slowdown in microfinance growth in FY25 amidst mounting asset quality concerns Credit rating agency ICRA in its latest report has highlighted a significant slowdown in microfinance growth in FY25 amidst mounting asset quality concerns. This is likely to result in subdued disbursements and a sharp moderation in Non-banking finance companies - microfinance institutions’ (NBFC-MFIs) Assets under management (AUM) growth to 0-5% in FY25 from 29% in FY24. Following two years of robust expansion, the sector is facing challenges stemming from borrower over-leveraging, soc...
ICRA highlights significant slowdown in microfinance growth in FY25 amidst mounting asset quality concerns
ICRA highlights significant slowdown in microfinance growth in FY25 amidst mounting asset quality concerns
Source: Accord Fintech
2024-12-06 11:36:00 am
Job opportunities to rise by 7.5 pc in Indian fintech industry Job opportunities are expected to rise by 7.5 per cent in the Indian fintech industry, spurred by the widespread embrace of digital payments, blockchain innovations and the growth of open banking systems, according to a report on Thursday.  While the banking industry has seen a 7.3 per cent net rise in employment, fuelled by regulatory initiatives, non-banking financial companies (NBFCs) are also showing steady growth, with a 5.1 per cent net rise in employment, according to latest in...
Job opportunities to rise by 7.5 pc in Indian fintech industry
Job opportunities to rise by 7.5 pc in Indian fintech industry
Source: IANS
2024-12-05 05:43:56 pm
Funding by mutual funds to NBFCs up 47 pc at Rs 2.33 lakh crore in Oct The mutual fund (MF) debt exposure to non-banking financial companies (NBFCs), which includes commercial papers (CPs) and corporate debt, has remained above the Rs 2 lakh crore level for more than half a year, reaching Rs 2.33 lakh crore in October.  A CareEdge Ratings report said this marks an increase of 47.1 per cent (year-on-year), along with a marginal sequential rise of 0.3 per cent. Moreover, CPs have remained above the one lakh crore mark for almost a year, currently amount...
Funding by mutual funds to NBFCs up 47 pc at Rs 2.33 lakh crore in Oct
Funding by mutual funds to NBFCs up 47 pc at Rs 2.33 lakh crore in Oct
Source: IANS
2024-12-05 04:02:36 pm
Mahindra Finance and Magma HDI General Insurance join hands to expand financial access for emerging India Magma HDI General Insurance Company, a fast-growing company in India’s general insurance sector has enteredinto a corporate agency agreementwith Mahindra Finance, one of the country’s leading NBFCs. Under this agreement, Magma HDI will provide tailor-made insurance solutions to Mahindra Financecustomers with a bouquet of general insurance products within the motor and non-motor segments. The signing ceremonywas attended by Raul Rebello, Managing Director&CEOofMahindra Finan...
Mahindra Finance and Magma HDI General Insurance join hands to expand financial access for emerging India
Mahindra Finance and Magma HDI General Insurance join hands to expand financial access for emerging India
Source: PR Agency
2024-12-04 04:26:12 pm
IIFL Finance surges on raising Rs 600 crore through NCDs IIFL Finance is currently trading at Rs. 437.40, up by 3.65 points or 0.84% from its previous closing of Rs. 433.75 on the BSE. The scrip opened at Rs. 442.45 and has touched a high and low of Rs. 450.05 and Rs. 431.70 respectively. So far 70234 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 653.48 on 14-Dec-2023 and a 52 week low of Rs. 304.17 on 27-Mar-2024. Last one week high and low of the scrip stood at Rs...
IIFL Finance surges on raising Rs 600 crore through NCDs
IIFL Finance surges on raising Rs 600 crore through NCDs
Source: Accord Fintech
2024-12-04 03:56:24 pm
PFC climbs as its arm incorporates wholly owned subsidiary Power Finance Corporation is currently trading at Rs. 507.30, up by 6.20 points or 1.24% from its previous closing of Rs. 501.10 on the BSE. The scrip opened at Rs. 503.00 and has touched a high and low of Rs. 516.75 and Rs. 503.00 respectively. So far 222783 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 580.35 on 12-Jul-2024 and a 52 week low of Rs. 351.85 on 20-Mar-2024. Last one week high and low of the sc...
PFC climbs as its arm incorporates wholly owned subsidiary
PFC climbs as its arm incorporates wholly owned subsidiary
Source: Accord Fintech
2024-12-04 11:49:09 am
Sunshine Capital touches roof on getting nod to launch Solar Energy Finance products Sunshine Capital is locked its upper circuit limit at Rs. 2.21, up by 0.10 points or 4.74% from its previous closing of Rs. 2.11 on the BSE. The scrip opened at Rs. 2.20 and has touched a high and low of Rs. 2.21 and Rs. 2.20 respectively. So far 6467502 shares were traded on the counter. The BSE group 'XT' stock of face value Rs. 1 has touched a 52 week high of Rs. 4.13 on 15-Apr-2024 and a 52 week low of Rs. 1.22 on 29-Dec-2023. Last one week high and low of the scrip stood...
Sunshine Capital touches roof on getting nod to launch Solar Energy Finance products
Sunshine Capital touches roof on getting nod to launch Solar Energy Finance products
Source: Accord Fintech
2024-12-04 11:35:16 am
Buy L&T Finance Ltd For Target Rs. 180 By Motilal Oswal Financial Services Ltd Driving growth through digital excellence Leveraging AI, digital innovation and customer centricity to shape its future We attended the Digital Investor Day hosted by L&T Finance (LTF) where it showcased how it is trying to redefine financial services with its technology and customer-first solutions. The company highlighted its digital transformation, AIdriven initiatives including its Project Cyclops (new underwriting engine), and broader technological advancements, which will shape t...
Buy L&T Finance Ltd For Target Rs. 180 By Motilal Oswal Financial Services Ltd
Buy L&T Finance Ltd For Target Rs. 180 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-04 10:53:43 am
Buy L&T Finance Ltd For Target Rs.180 By JM Financial Services Transforming digitally; valuations inexpensive - Upgrade to BUY We attended L&T Finance’s (LTF) digital investor day where the management articulated its digital transformation journey and its way forward to drive stringent operations and stabilize credit quality led by Project Cyclops, an AI-driven, multi-dimensional underwriting engine. The company has made significant efforts to improve its credit underwriting practices across different product lines and has created an omni-ch...
Buy L&T Finance Ltd For Target Rs.180 By JM Financial Services
Buy L&T Finance Ltd For Target Rs.180 By JM Financial Services
Source: JM Financial Services
2024-12-04 09:42:58 am
NBFC Sector Update : Assessing impact of draft LCR guidelines: RoA to dip by up to 8bp By Motilal Oswal Financial Services Ltd Sector earnings to be impacted by ~1%; incremental deposits required at INR2.7t * In July’24, RBI issued draft guidelines to enhance the liquidity resilience of banks under the Basel III Framework on Liquidity Standards. These guidelines focus on reviewing haircuts on HQLA and run-off rates on certain categories of deposits. * In our previous note, we highlighted a potential 7 to 13% hit on the overall LCR if the draft guidelines were implemented; in this note, we are further asse...
NBFC Sector Update : Assessing impact of draft LCR guidelines: RoA to dip by up to 8bp By Motilal Oswal Financial Services Ltd
NBFC Sector Update : Assessing impact of draft LCR guidelines: RoA to dip by up to 8bp By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-12-04 09:27:13 am
Reduce Fusion Micro Finance Ltd For Target Rs. 155 By Emkay Global Financial Services Ltd Asset quality worsens leading to going concern risks Fusion Finance reported net loss of Rs3.1bn (Emkay: Rs1.8bn), mainly due to significantly elevated LLP at Rs6.9bn owing to further deterioration in asset quality with GNPA ratio shooting up to 9.4% (up by 395bps QoQ). Fusion’s AllIndia PAR stands high at 14.9%, including ~22% in Fusion + >=3 lenders, being impacted the most due to customer overleveraging and imposition of MFIN guardrails. Additionally, Fusion breached financial ...
Reduce Fusion Micro Finance Ltd For Target Rs. 155 By Emkay Global Financial Services Ltd
Reduce Fusion Micro Finance Ltd For Target Rs. 155 By Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services Ltd
2024-12-03 03:18:43 pm
Hold LIC Housing Finance Ltd For Target Rs.675 By PL Capital Asset quality improving Quick Pointers: * PAT beat due to better asset quality and lower provisions, but NII miss * Disbursals within developer and affordable self-employed to increase   LICHF saw a mixed quarter; NII missed PLe by 5% due to lower NIM, which was offset by lower provisions at 11bps (PLe 49bps) and higher other income. NIM declined by 5bps QoQ due to focus on growth. As per LICHF, NIM has bottomed out as (1) share of higher yielding NHL in disbursals is target...
Hold LIC Housing Finance Ltd For Target Rs.675 By PL Capital
Hold LIC Housing Finance Ltd For Target Rs.675 By PL Capital
Source: Prabhudas Lilladher Capital
2024-12-03 03:17:35 pm
Buy UGRO Capital Ltd For Target Rs. 360 By Emkay Global Financial Services Ltd Strong AUM growth, led by micro branch addition; higher credit cost hurt profitability Ugro reported a satisfactory performance in Q2FY25, where it delivered a strong performance in terms of highest-ever net disbursement of Rs19.7bn (+34% YoY; +71% QoQ) and AUM reaching Rs101.6bn (+34% YoY; +10% QoQ). The momentum on fund mobilization and co-lending/direct assignment was strong in the quarter, leading to strong growth in Assignment income. Additional write-off in the rundown supply chain f...
Buy UGRO Capital Ltd For Target Rs. 360 By Emkay Global Financial Services Ltd
Buy UGRO Capital Ltd For Target Rs. 360 By Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services Ltd
2024-12-03 02:50:58 pm
RBI`s regulatory initiatives, asset quality trends to push NBFCs slow down asset growth in FY25, FY26: Crisil Domestic rating agency Crisil in its latest report has said that Reserve Bank of India’s (RBI) regulatory initiatives and asset quality trends will push non-banking financial companies (NBFCs) to slow down their growth in asset under management (AUM) to 15-17 per cent in the current fiscal and next. The sector had achieved a handsome growth of 23 per cent in the AUM in FY24, and even with the slower growth, the AUM expansion will be higher than the 14 per cent of the last decade. Acc...
RBI`s regulatory initiatives, asset quality trends to push NBFCs slow down asset growth in FY25, FY26: Crisil
RBI`s regulatory initiatives, asset quality trends to push NBFCs slow down asset growth in FY25, FY26: Crisil
Source: Accord Fintech
2024-12-03 11:43:24 am
Neutral Bajaj Finance Ltd For Target Rs.7,250 By Motilal Oswal Financial Services Ltd Exits co-branded credit card distribution; minimal impact on earnings Bajaj Finance (BAF) has decided to exit the co-branded credit card distribution business. RBL Bank (RBK) announced that the bank and BAF have mutually agreed to terminate their co-branded credit card partnership. This would also imply that BAF will potentially terminate its co-branded card partnership with DBS Bank (DBS). What is puzzling is that BAF, which had once articulated its aspirations to become one of the larges...
Neutral Bajaj Finance Ltd For Target Rs.7,250 By Motilal Oswal Financial Services Ltd
Neutral Bajaj Finance Ltd For Target Rs.7,250 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-03 11:43:14 am
Muthoot Capital Services gains on raising Rs 110 crore via NCDs Muthoot Capital Services is currently trading at Rs. 377.40, up by 4.50 points or 1.21% from its previous closing of Rs. 372.90 on the BSE. The scrip opened at Rs. 370.15 and has touched a high and low of Rs. 379.10 and Rs. 370.15 respectively. So far 97 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 424.95 on 26-Dec-2023 and a 52 week low of Rs. 265.00 on 27-Mar-2024. Last one week high and low of the scrip s...
Muthoot Capital Services gains on raising Rs 110 crore via NCDs
Muthoot Capital Services gains on raising Rs 110 crore via NCDs
Source: Accord Fintech
2024-12-03 10:13:58 am
Buy Aadhar Housing Finance Ltd For Target Rs.555 By Mirae Asset Capital Markets Leading the Pack: Shines with Stellar Performance Aadhar Housing Finance (AADHARHF) is a leading affordable HFC with AUM size of INR 217bn commanding 2% share in Indian affordable housing market. With diversified presence across 21 states, focus on low-income housing and resilience business model, AADHARHF is well placed to deliver high quality growth. Its ability to deliver superior margin, cost-efficient expansion & contained credit cost ensure strong profitability (23% PAT CAGR over...
Buy Aadhar Housing Finance Ltd For Target Rs.555 By Mirae Asset Capital Markets
Buy Aadhar Housing Finance Ltd For Target Rs.555 By Mirae Asset Capital Markets
Source: Mirae Asset Capital Markets
2024-12-02 12:04:52 pm
Buy Aadhar Housing Finance Ltd For Target Rs.550 - ICICI Securities Largest AHFC with deep distribution and industry leading spread Aadhar Housing Finance (Aadhar) was amongst the first few AHFCs to get HFC licence, way back in 2010, and since then its execution track record under the leadership of Mr. Deo Shankar Tripathi (Executive VC) and Mr. Rishi Anand (MD & CEO) has been superior. It delivered 18% AUM CAGR between FY18–24 with AUM of INR 228bn, as of Sep’24, driven by an early entry into under-penetrated markets of UP, MP, Chhattisgar...
Buy Aadhar Housing Finance Ltd For Target Rs.550 - ICICI Securities
Buy Aadhar Housing Finance Ltd For Target Rs.550 - ICICI Securities
Source: ICICI Securities
2024-12-02 11:51:29 am
Indian NBFCs to see asset growth at 15-17 pc over 2 fiscals, still above decadal average The assets under management (AUM) growth of non-banking financial companies (NBFCs) in the country is set to moderate to 15-17 per cent in the current and next fiscals (FY25 and FY26), according to a report on Monday.  The expected growth will still be above the decadal average of 14 per cent (fiscal 2014-2024), according to a report by CRISIL Ratings. The AUM growth of NBFCs in the two largest traditional segments — home and vehicle loans (45 per cent of NBFC AUM) — wi...
Indian NBFCs to see asset growth at 15-17 pc over 2 fiscals, still above decadal average
Indian NBFCs to see asset growth at 15-17 pc over 2 fiscals, still above decadal average
Source: IANS
2024-12-02 11:40:33 am
Buy Equitas Small Finance Ltd For Target Rs.80 By Motilal Oswal Financial Services Ltd PPoP in line; provisioning surge drives big earnings miss Margin contracts 28bp QoQ * Equitas SFB (EQUITASB) reported 2QFY25 PAT of ~INR129m (-93.5% YoY; 93% miss on MOFSLe) as the bank made additional provision of INR1.46b toward the MFI segment (INR1b toward SMA 1&2 advances and INR456m toward an additional NPA provision). * NII grew 4.8% YoY to INR8.02b (3% miss). Margins moderated 28bp QoQ to 7.69%. * Business growth was healthy with Advances growing 18% YoY...
Buy Equitas Small Finance Ltd For Target Rs.80 By Motilal Oswal Financial Services Ltd
Buy Equitas Small Finance Ltd For Target Rs.80 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-01 04:06:56 pm
Mufin Green Finance gains on securing approval to raise funds up to Rs 15 crore Mufin Green Finance is currently trading at Rs. 121.40, up by 0.65 points or 0.54% from its previous closing of Rs. 120.75 on the BSE. The scrip opened at Rs. 120.70 and has touched a high and low of Rs. 122.70 and Rs. 120.05 respectively. So far 14027 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 273.10 on 08-Feb-2024 and a 52 week low of Rs. 90.40 on 25-Oct-2024. Last one week high and low of the scrip stood...
Mufin Green Finance gains on securing approval to raise funds up to Rs 15 crore
Mufin Green Finance gains on securing approval to raise funds up to Rs 15 crore
Source: Accord Fintech
2024-11-29 03:34:40 pm
Manba Finance moves up on achieving highest ever AUM of Rs 1200 crore Manba Finance is currently trading at Rs. 149.50, up by 0.65 points or 0.44% from its previous closing of Rs. 148.85 on the BSE. The scrip opened at Rs. 150.65 and has touched a high and low of Rs. 157.70 and Rs. 148.25 respectively. So far 35545 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 171.65 on 17-Oct-2024 and a 52 week low of Rs. 125.40 on 08-Oct-2024. Last one week high and low of the scrip stood at ...
Manba Finance moves up on achieving highest ever AUM of Rs 1200 crore
Manba Finance moves up on achieving highest ever AUM of Rs 1200 crore
Source: Accord Fintech
2024-11-29 12:04:24 pm
HUDCO soars on signing MoU with NBCC (India) Housing & Urban Development Corporation is currently trading at Rs. 230.80, up by 10.20 points or 4.62% from its previous closing of Rs. 220.60 on the BSE. The scrip opened at Rs. 223.40 and has touched a high and low of Rs. 233.45 and Rs. 222.90 respectively. So far 416561 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 353.95 on 12-Jul-2024 and a 52 week low of Rs. 81.30 on 29-Nov-2023. Last one week high...
HUDCO soars on signing MoU with NBCC (India)
HUDCO soars on signing MoU with NBCC (India)
Source: Accord Fintech
2024-11-28 09:55:53 am
Indian government to revamp infrastructure lender IFCI, sources say India will revamp operations of non-bank lender IFCI Ltd by shutting its lending operations following capital constraints and converting it into an infrastructure advisory firm, two government sources told Reuters on Tuesday. IFCI, launched in 1949 soon after the country's independence, was asked to stop fresh lending in 2021-22 after bad loans soared, depleting the lender's capital and liquidity. Indian government owns nearly 72% of IFCI. The federal finance ministry and IFC...
Indian government to revamp infrastructure lender IFCI, sources say
Indian government to revamp infrastructure lender IFCI, sources say
Source: Reuters
2024-11-26 04:55:10 pm
Muthoot Microfin gains on initiating loan disbursals under co-lending partnership with SBI Muthoot Microfin is currently trading at Rs. 187.35, up by 0.30 points or 0.16% from its previous closing of Rs. 187.05 on the BSE. The scrip opened at Rs. 187.05 and has touched a high and low of Rs. 190.00 and Rs. 185.75 respectively. So far 7340 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 280.80 on 26-Dec-2023 and a 52 week low of Rs. 181.10 on 21-Nov-2024. Last one week high and low of the scrip stood a...
Muthoot Microfin gains on initiating loan disbursals under co-lending partnership with SBI
Muthoot Microfin gains on initiating loan disbursals under co-lending partnership with SBI
Source: Accord Fintech
2024-11-26 03:13:02 pm
Neutral Aavas Financiers Ltd. For Target Rs.1,880 By Motilal Oswal Financial Services Ltd Disbursements weak; NIM compression continues Major tech transformation completed; unlikely to impact business ahead * AAVAS Financiers (AAVAS)’s 2QFY25 PAT grew 22% YoY to ~INR1.48b (in line). 1HFY25 PAT grew 18% YoY to ~INR2.74b and we expect 2HFY25 PAT to also grow by ~18% YoY. 2Q NII grew 9% YoY to ~INR2.42b (in line). * 2Q core NIM (calc.) declined ~25bp QoQ to ~6.6%. Reported spreads declined ~10bp QoQ to 4.9% (vs. ~5% as of Jun’24). vManagement shared ...
Neutral Aavas Financiers Ltd. For Target Rs.1,880 By Motilal Oswal Financial Services Ltd
Neutral Aavas Financiers Ltd. For Target Rs.1,880 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-26 02:47:40 pm
Fintech firm Lendingkart clocks 6 pc profit drop at Rs 175 crore in FY24 Fintech company Lendingkart has reported almost 6 per cent drop in profit after tax (PAT) at Rs 174.92 crore in FY24 from Rs 185.93 crore in FY23.  As per its consolidated financials, employee benefit expenses surged 75.70 per cent to Rs 199 crore. The finance cost increased by 16.8 per cent to Rs 293.53 crore last fiscal. Meanwhile, the fintech company’s revenue from operations increased 36 per cent to Rs 1,090 crore in FY24 from Rs 798 crore in FY23. On a unit basis, the co...
Fintech firm Lendingkart clocks 6 pc profit drop at Rs 175 crore in FY24
Fintech firm Lendingkart clocks 6 pc profit drop at Rs 175 crore in FY24
Source: IANS
2024-11-25 04:11:59 pm
Muthoot Capital Services moves up on raising Rs 50 crore through NCDs Muthoot Capital Services is currently trading at Rs. 328.95, up by 1.40 points or 0.43% from its previous closing of Rs. 327.55 on the BSE. The scrip opened at Rs. 328.05 and has touched a high and low of Rs. 331.15 and Rs. 328.05 respectively. So far 14 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 424.95 on 26-Dec-2023 and a 52 week low of Rs. 265.00 on 27-Mar-2024. Last one week high and low of the scrip s...
Muthoot Capital Services moves up on raising Rs 50 crore through NCDs
Muthoot Capital Services moves up on raising Rs 50 crore through NCDs
Source: Accord Fintech
2024-11-22 10:08:16 am
Add Manappuram Finance Ltd For Target Rs. 175 by Yes Securities Ltd Challenges to navigate in H2 FY25 Reasonably good Q2 FY25 driven by GL business; asset quality in MFI, VF and HF businesses further deteriorate Manappuram delivered 4% beat on NII/PPOP and 7% beat on PAT versus our expectations, driven by 1) strong growth in Gold Loans (GL) portfolio in H1 FY25 (9% qoq in Q1 and 3% qoq in Q2), 2) improvement in GL portfolio yield (22.5% in Q2 v/s 22.2% in Q1), 3) slight decline in consolidated CoB (driven by Asirvad), and 4) controlled increase in opex ...
Add Manappuram Finance Ltd For Target Rs. 175 by Yes Securities Ltd
Add Manappuram Finance Ltd For Target Rs. 175 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-21 01:41:27 pm
Sundaram Finance rises as its arm to expand presence in tier-III towns in western Tamil Nadu Sundaram Finance is currently trading at Rs. 4142.55, up by 48.90 points or 1.19% from its previous closing of Rs. 4093.65 on the BSE. The scrip opened at Rs. 4124.95 and has touched a high and low of Rs. 4189.00 and Rs. 4034.20 respectively. So far 401 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 5528.85 on 27-Sep-2024 and a 52 week low of Rs. 3104.45 on 24-Nov-2023. Last one week high and low of the scrip ...
Sundaram Finance rises as its arm to expand presence in tier-III towns in western Tamil Nadu
Sundaram Finance rises as its arm to expand presence in tier-III towns in western Tamil Nadu
Source: Accord Fintech
2024-11-21 09:58:53 am
Neutral Manappuram Finance Ltd For Target Rs.160 By Motilal Oswal Financial Services Ltd Healthy gold loan growth; MFI business remains key monitorable Asset quality deteriorates across segments; credit costs high in microfinance * Manappuram Finance’s (MGFL) consol. PAT in 2QFY25 grew 2% YoY to INR5.7b (in line). NII grew ~21% YoY to ~INR16.4b and PPoP rose ~19% YoY to ~INR10.3b. 1HFY25 PAT grew 7% YoY to INR11.3b and we expect 2HFY25 PAT to decline 8% YoY. * Consol. credit costs stood at ~INR2.6b, resulting in annualized credit costs of ~2.3% (vs. ~2.1%...
Neutral Manappuram Finance Ltd For Target Rs.160 By Motilal Oswal Financial Services Ltd
Neutral Manappuram Finance Ltd For Target Rs.160 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-19 03:16:38 pm
Buy Muthoot Finance Ltd For Target Rs. 2,240 by Yes Securities Ltd Solid RoE delivery led by Gold Loans Strong performance in Gold Loans; MFI and other products witness NPL spike Muthoot Finance delivered a 5-6% NII/PPOP beat on our expectations aided by strong growth, yield improvement and operating leverage in the mainstay Gold Loans business (83% of AUM). Consolidated PAT was however in-line with our estimate with higher provisioning in Belstar MFI and other non-GL businesses (HF, VF, PL, BL, etc.). Consolidated RoA/RoE sequentially improved to 4.9%...
Buy Muthoot Finance Ltd For Target Rs. 2,240 by Yes Securities Ltd
Buy Muthoot Finance Ltd For Target Rs. 2,240 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-19 11:34:06 am
REC climbs as its arm incorporates two wholly owned subsidiaries REC is currently trading at Rs. 514.60, up by 13.50 points or 2.69% from its previous closing of Rs. 501.10 on the BSE. The scrip opened at Rs. 509.00 and has touched a high and low of Rs. 517.50 and Rs. 508.30 respectively. So far 166817 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 653.90 on 12-Jul-2024 and a 52 week low of Rs. 331.85 on 28-Nov-2023. Last one week high and low of the scrip stood at Rs. 519....
REC climbs as its arm incorporates two wholly owned subsidiaries
REC climbs as its arm incorporates two wholly owned subsidiaries
Source: Accord Fintech
2024-11-19 10:27:57 am
Neutral Repco Home Finance Ltd For Target Rs.500 By Motilal Oswal Financial Services Ltd Loan growth muted; asset quality improves Earnings in line; NIM stable QoQ * Repco Home Finance (REPCO)’s 2QFY25 PAT grew 15% YoY to INR1.1b (in line). The company’s 1HFY25 PAT grew ~16% YoY to ~INR2.2b, and we expect 2HFY25 PAT to increase ~7% YoY. * The NII declined ~2% YoY to ~INR1.7b (in line). REPCO reported a healthy growth in its other income, primarily led by improvements in insurance commissions, investment income, and recoveries from written-off accoun...
Neutral Repco Home Finance Ltd For Target Rs.500 By Motilal Oswal Financial Services Ltd
Neutral Repco Home Finance Ltd For Target Rs.500 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-19 10:08:16 am
Add LIC Housing Finance Ltd For Target Rs. 765 by Yes Securities Ltd Growth and Margins remain key monitorables’ Earnings higher on lower credit cost; disbursements in-line, margin contracts LIC HF delivered a material 8% beat on our PAT estimate on benign credit cost and asset quality improvement. NII/PPOP were marginally lower than our expectation with NIM dipping sequentially and opex being higher, even as the disbursement/loan portfolio growth were in-line with expectation and recoveries from written-off loans were larger. Disbursements stoo...
Add LIC Housing Finance Ltd For Target Rs. 765 by Yes Securities Ltd
Add LIC Housing Finance Ltd For Target Rs. 765 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-15 02:47:32 pm
Buy Aditya Birla Capital Ltd For Target Rs.270 By Motilal Oswal Financial Services Ltd Strengthening all its key businesses; credit costs remain benign * Aditya Birla Capital (ABCAP)’s 2QFY25 consolidated revenue grew 36% YoY to ~INR120b and consolidated PAT grew 42% YoY to ~INR10b. 1HFY25 PAT grew ~30% YoY and we expect 2HFY25 PAT to grow ~24% YoY. * During 2QFY25, the company sold its entire stake of ~50% in Aditya Birla Insurance Brokers and recognized a gain of ~INR2b (~INR1.7b, net of tax). Adjusted for this one-off gain, consol. PAT grew 18% YoY. ...
Buy Aditya Birla Capital Ltd For Target Rs.270 By Motilal Oswal Financial Services Ltd
Buy Aditya Birla Capital Ltd For Target Rs.270 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-15 11:51:38 am