News

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
Buy Computer Age Management Services Private Ltd For Target Rs.5,500 By Motilal Oswal Financial Services Ltd Strong topline growth across segments * CAMS reported operating revenue of INR3.6b in 2QFY25, up 33% YoY (6% beat). For 1HFY25, it grew 30% YoY to ~INR7b. * The Non-MF businesses grew 31.9% YoY, led by strong growth in the CAMSPay, KRA, and AIF segments. The share of the Non-MF segment stood at ~12.9% of the overall revenue, and the company has maintained its guidance of 20%+ revenue growth. * EBITDA grew 39% YoY to INR1.7b (6% beat). For 1HFY25, EBITDA grew 38% YoY to...
Buy Computer Age Management Services Private Ltd For Target Rs.5,500 By Motilal Oswal Financial Services Ltd
Buy Computer Age Management Services Private Ltd For Target Rs.5,500 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-15 09:48:50 am
Buy Five Star Business Finance Ltd For Target Rs.1,015 By Motilal Oswal Financial Services Ltd Macros prompt a cut in AUM growth guidance Earnings in line but disbursements moderate; lending rate to be cut by ~2pp * Five Star Business Finance (FIVESTAR)’s 2QFY25 PAT grew 34% YoY to INR2.7b (in line). 1HFY25 PAT grew by ~36% YoY and we expect 2HFY25 PAT to grow by ~24% YoY. NII grew ~30% YoY to INR5.2b (in line), and PPoP rose ~37% YoY to INR3.8b (in line). * Opex grew 17% YoY to INR1.6b (in line). Credit costs stood at INR218m (~28% above MOFSLe). This translat...
Buy Five Star Business Finance Ltd For Target Rs.1,015 By Motilal Oswal Financial Services Ltd
Buy Five Star Business Finance Ltd For Target Rs.1,015 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-15 09:41:12 am
Buy Repco Home Finance Ltd For Target Rs.615 by Yes Securities Ltd Another strong quarter of profitability           Growth and margins in-line, asset quality improved meaningfully     Repco Home Finance yet again delivered a strong RoA/RoE of 3.3%/16% in Q2 FY25 aided by asset quality improvement, higher other income, and resilient spread/margin. Loan disbursements at Rs8.67bn were up 27.5% qoq/8.5% yoy, but the increase in portfolio run-off (BT Out) restrained loan book expansion to 1.9% qoq/8.1% yoy. Portfolio spre...
Buy Repco Home Finance Ltd For Target Rs.615 by Yes Securities Ltd
Buy Repco Home Finance Ltd For Target Rs.615 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-14 04:35:20 pm
Thirdwave Financial Intermediaries shines on getting nod to acquire 100% stake in British Brewing Company Thirdwave Financial Intermediaries is currently trading at Rs. 156.00, up by 5.50 points or 3.65% from its previous closing of Rs. 150.50 on the BSE. The scrip opened at Rs. 143.00 and has touched a high and low of Rs. 158.00 and Rs. 143.00 respectively. So far 9568 shares were traded on the counter. The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 170.20 on 20-Sep-2024 and a 52 week low of Rs. 38.61 on 20-Nov-2023. Last one week high and low of ...
Thirdwave Financial Intermediaries shines on getting nod to acquire 100% stake in British Brewing Company
Thirdwave Financial Intermediaries shines on getting nod to acquire 100% stake in British Brewing Company
Source: Accord Fintech
2024-11-14 03:56:21 pm
Muthoot Capital Services moves up on getting nod to raise Rs 50 crore via NCDs Muthoot Capital Services is currently trading at Rs. 361.10, up by 2.80 points or 0.78% from its previous closing of Rs. 358.30 on the BSE. The scrip opened at Rs. 361.95 and has touched a high and low of Rs. 364.00 and Rs. 361.10 respectively. So far 142 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 moves up on getting nod to raise Rs 50 crore via NCDs
Muthoot Capital Services moves up on getting nod to raise Rs 50 crore via NCDs
Source: Accord Fintech
2024-11-14 10:07:15 am
Buy LIC Housing Finance Ltd For Target Rs.760 By Motilal Oswal Financial Services Ltd Loan growth better but still muted; NIM declines 5bp QoQ * LICHF's 2QFY25 PAT rose ~12% YoY to ~INR13.3b (~11% beat). 1HFY25 PAT grew by ~5% and we expect 2HFY25 PAT to grow by 11% YoY. NII declined ~6% YoY to ~INR19.7b (in line). Interest income from recoveries in NPA accounts stood at ~INR860m in 2QFY25 (vs. INR900m in 1Q). * Opex grew ~20% YoY to INR3.1b (~11% higher than MOFSLe) and the costincome ratio rose ~225bp YoY to ~15% (PY: ~12%). PPoP at ~INR17.4b (in line) de...
Buy LIC Housing Finance Ltd For Target Rs.760 By Motilal Oswal Financial Services Ltd
Buy LIC Housing Finance Ltd For Target Rs.760 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-13 03:50:25 pm
Maximus International leads the gainers of group B on BSE Maximus International is currently trading at Rs. 25.22, up by 4.19 points or 19.92% from its previous closing of Rs. 21.03 on the BSE. The scrip opened at Rs. 21.45 and has touched a high and low of Rs. 25.23 and Rs. 20.86 respectively. So far 5113766 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 30.45 on 07-Feb-2024 and a 52 week low of Rs. 15.36 on 24-Oct-2024. Last one week high and low of the scrip stood ...
Maximus International leads the gainers of group B on BSE
Maximus International leads the gainers of group B on BSE
Source: Accord Fintech
2024-11-13 02:24:57 pm
Buy Bajaj Finserv Ltd For Target Rs.2,050 By Emkay Global Financial Services BJFIN reported a satisfactory performance in Q2FY25 with reasonable performances posted by its established operating subsidiaries (BAF, BAGIC, and BALIC) amid the difficult and changing external environment. The emerging ventures (Finserv Health, Finserv Direct and AMC) continued to make good progress toward their journey to sustainable and profitable growth. Rising credit cost dented BAF’s Q2 results and the guidance of increased credit cost for FY25 (2.05%) led to a cut in our earning...
Buy Bajaj Finserv Ltd For Target Rs.2,050 By Emkay Global Financial Services
Buy Bajaj Finserv Ltd For Target Rs.2,050 By Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2024-11-13 01:56:27 pm
Add Shriram Finance Ltd For Target Rs.3,500 By Emkay Global Financial Services SHFL reported steady performance in Q2FY25 with AUM, profitability, asset quality, and credit cost coming in line with consensus and our expectations amid a volatile environment. In addition to meeting expectations, the performance was broadly stable to a slight improvement QoQ. There has been good progress on the guided path of ~17-18% AuM growth, and commensurate growth in profit with stable asset quality. Overall, SHFL continued to impress with increasing predictability of its performance....
Add Shriram Finance Ltd For Target Rs.3,500 By Emkay Global Financial Services
Add Shriram Finance Ltd For Target Rs.3,500 By Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2024-11-13 01:50:26 pm
Neutral SBI Cards and Payment Services Ltd For Target Rs.750 By Motilal Oswal Financial Services Ltd Asset quality pain continues; margins contract further Guides for elevated credit cost in the near term * SBI Cards (SBICARD) reported a sharp miss on PAT (31% miss) at INR4.04b. * Margins contracted 32bp QoQ to 10.6%. The share of the revolver mix declined marginally to 23%, while the EMI mix stood at 37% (38% in 1QFY25). * Spends grew 3.4% YoY/6.2% QoQ after a 3.2% QoQ dip in 1Q, as corporate spends saw a mild pick-up while retail continues to be healthy at 24% Yo...
Neutral SBI Cards and Payment Services Ltd For Target Rs.750 By Motilal Oswal Financial Services Ltd
Neutral SBI Cards and Payment Services Ltd For Target Rs.750 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-13 12:03:07 pm
PFC moves up as its arm incorporates wholly owned subsidiary Power Finance Corporation is currently trading at Rs. 468.65, up by 1.80 points or 0.39% from its previous closing of Rs. 466.85 on the BSE. The scrip opened at Rs. 469.00 and has touched a high and low of Rs. 471.90 and Rs. 453.25 respectively. So far 286100 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. 302.00 on 15-Nov-2023. Last one week high and low of the sc...
PFC moves up as its arm incorporates wholly owned subsidiary
PFC moves up as its arm incorporates wholly owned subsidiary
Source: Accord Fintech
2024-11-13 11:48:45 am
Reduce Poonawalla Fincorp Ltd For Target Rs.240 By Emkay Global Financial Services Poonawalla Fincorp reported disappointing Q2 numbers with the credit cost of Rs9.1bn (including Rs6.7bn one-time provisioning on the STPL book) leading to the company posting a Rs4.7bn loss. The management provided comfort by stating that review of the entire portfolio is complete and there should not be any need for additional provision. The company unveiled 6 new products and its omnichannel phygital distribution that shall help it deliver 5-6x AUM growth in the next 6 years. With the Poona...
Reduce Poonawalla Fincorp Ltd For Target Rs.240 By Emkay Global Financial Services
Reduce Poonawalla Fincorp Ltd For Target Rs.240 By Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2024-11-12 02:53:22 pm
Add CreditAccess Grameen Limited For Target Rs 1,175 By Yes Securities Ltd Earnings outlook uncertain As PAR increases materially, Management cuts Growth and RoE guidance significantly CREDAG’s PAT for Q2 FY25 was substantially below expectations on account of significant spike in the credit cost (6.5% v/s estimate of 3.4%). Due to meaningful dip in collection efficiency (excl arrears at 96.3% v/s 97.8% in preceding quarter), the overall PAR and 0-60 dpd bucket increased by 240 bps and 140 bps on sequential basis, leading to higher provisions (early rec...
Add CreditAccess Grameen Limited For Target Rs 1,175 By Yes Securities Ltd
Add CreditAccess Grameen Limited For Target Rs 1,175 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-10 11:30:24 am
Buy Shriram Finance Ltd For Target Rs. 3,700 By Yes Securities Ltd Sustained strong show Another quarter of solid performance  Shriram Finance delivered an in-line AUM growth, stable NIM and stronger-thanexpected asset quality performance in Q2 FY25, underpinning sustained delivery of 3%+/15%+ RoA/RoE. Disbursement traction remained brisk (up 6% qoq/15% yoy), driving a sturdy AUM growth (4% qoq/20% yoy). The loan portfolio growth continued to be driven by Used CV (Disb/AUM up 7% qoq/2% qoq), Used PV (Disb/AUM up 3% qoq/7% qoq), MSME (Disb/AUM up 1...
Buy Shriram Finance Ltd For Target Rs. 3,700 By Yes Securities Ltd
Buy Shriram Finance Ltd For Target Rs. 3,700 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-10 11:14:13 am
Scheduled commercial banks, NBFCs to give additional MSME credit of Rs 1.54 lakh cr: FM The government has set the target for all scheduled commercial banks and NBFCs for providing additional MSME credit of Rs 1.54 lakh crore in the current financial year (FY25).  The banks and NBFCs should aim at total credit growth of Rs 5.75 lakh crore, Rs. 6.21 lakh crore and Rs 7 lakh crore to MSMEs in the financial year 2024-25, 2025-26 and 2026-27 respectively, according to Finance Minister Nirmala Sitharaman. At the ‘National MSME Cluster Outreach’ programme here, ...
Scheduled commercial banks, NBFCs to give additional MSME credit of Rs 1.54 lakh cr: FM
Scheduled commercial banks, NBFCs to give additional MSME credit of Rs 1.54 lakh cr: FM
Source: IANS
2024-11-10 10:43:35 am
Buy Shriram Finance Ltd For Target Rs.4,000 By Motilal Oswal Financial Services Ltd Execution better than vehicle finance peers; earnings in line Despite industry-level stress, its asset quality improves and credit costs remain flat * Shriram Finance (SHFL)’s 2QFY25 PAT rose ~18% YoY to ~INR20.7b (in line), and PPoP grew 14% YoY to ~INR39.8b (in line). NII grew ~19% YoY to INR54.6b (in line), while reported NIM dipped ~5bp QoQ to ~8.75%. 1HFY25 PAT grew ~18% YoY to INR40.5b and we expect 2HFY25 PAT to grow by ~15% YoY * Credit costs of ~INR12.3b (10%...
Buy Shriram Finance Ltd For Target Rs.4,000 By Motilal Oswal Financial Services Ltd
Buy Shriram Finance Ltd For Target Rs.4,000 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-10 10:25:38 am
Buy Aavas Financiers Ltd For Target Rs. 1,985 By JM Financial Services PAT beat driven by efficiencies; growth yet to pick up Aavas reported a healthy quarter with PAT at INR 1.5bn (+21.5% YoY, +17.3% QoQ, +15% JMFe), led by a) moderation in opex growth (-1% QoQ, +4.6% YoY) and b) lower credit costs (0.1% vs 0.2% QoQ). While partial moderation in costs was driven by a one-off ESOP reversal, the primary driver was realization of green shoots from previous tech spends. As a result, C/I ratio saw a meaningful improvement to 41.2% (vs 44.8% QoQ). Growth remained ...
Buy Aavas Financiers Ltd For Target Rs. 1,985 By JM Financial Services
Buy Aavas Financiers Ltd For Target Rs. 1,985 By JM Financial Services
Source: JM Financial Services Ltd
2024-11-09 11:51:17 am
Accumulate L&T Finance Ltd For Target Rs. 160 By Geojit Financial Services Ltd Healthy operational performance L&T Finance Ltd (LTF) offers financial products and services in the corporate, infrastructure and retail sectors. It also offers fund products and investment services. * L&T Finance’s net interest margin (NIM) fell 37bps QoQ to 8.9% (+32bps YoY) in Q2FY25, due to a 16bps QoQ dip in yield on advances from portfolio mix changes, partly offset by a 5bps QoQ improvement in borrowing costs. * Net interest income (NII) grew 3.7% QoQ (+18.1% YoY...
Accumulate L&T Finance Ltd For Target Rs. 160 By Geojit Financial Services Ltd
Accumulate L&T Finance Ltd For Target Rs. 160 By Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd.
2024-11-07 03:34:25 pm
Buy CAN FIN Homes Ltd For Target Rs. 1,050 By Yes Securities Ltd Good quarter and firm commentary A quarter of in-line growth but resilient margins Can Fin Homes delivered a 3-4% beat on NII/PPOP and a largely expected PAT on the back of in-line disbursements, small improvement in portfolio spread and stable NPLs. Opex was higher than expectations in the quarter due to promotions and increments, higher actuarial provisions, step-up in legal/SARFAESI actions and intensification of marketing activity. SMA 0/1 buckets transiently increased due to regula...
Buy CAN FIN Homes Ltd For Target Rs. 1,050 By Yes Securities Ltd
Buy CAN FIN Homes Ltd For Target Rs. 1,050 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-06 06:03:44 pm
Manappuram Finance reports 2% Y-O-Y increase in Q2 net profit to Rs.572 crore Manappuram Finance Ltd has reported a consolidated net profit of Rs.572.1 crore for the second  quarter of FY25, reflecting a 2.8% increase compared to Rs.556.5 crore in Q1 FY25. The Non-Banking Financial Company's (NBFC) consolidated Assets Under Management (AUM) for Q2 reached Rs.45,716.3 crore, marking a 17.4% increase year-on-year and a 1.7% rise quarter-on-quarter. The standalone net profit for the quarter, excluding subsidiaries, was Rs.474.9  crore. Total consolidated ope...
Manappuram Finance reports 2% Y-O-Y increase in Q2 net profit to Rs.572 crore
Manappuram Finance reports 2% Y-O-Y increase in Q2 net profit to Rs.572 crore
Source: PR Agency
2024-11-06 12:29:18 pm
Buy Max Financial Services Ltd For Target Rs. 1,550 By Yes Securities Ltd Assigned BUY for the first time in Dec 2022, MFSL showcases required positive outcomes Our view – Robust APE growth coupled with reasonable margin control VNB margin –Max Life displays material sequential expansion driven by seasonality and rider attachment: Calculated VNB margin for 2QFY25 rose 613bps QoQ to 23.6%. About 500 bps of the sequential margin expansion is attributable to operating leverage and seasonal aspects, while about 100 bps is attributable to healthy rider...
Buy Max Financial Services Ltd For Target Rs. 1,550 By Yes Securities Ltd
Buy Max Financial Services Ltd For Target Rs. 1,550 By Yes Securities Ltd
Source: Yes Securities Ltd.
2024-11-05 03:27:05 pm
Buy SBI Life Insurance Ltd For Target Rs.2,100 By Motilal Oswal Financial Services Ltd VNB margins contract due to shift in product mix Focus on protection and non-par to improve margins in FY25E * SBI Life Insurance (SBILIFE) reported a weak performance in 2QFY25. APE grew 3% YoY to INR53.9b (11% miss). For 1HFY25, it grew 9% YoY to INR90.3b. ? Absolute VNB declined 3% YoY to INR14.5b (14% miss). For 1HFY25, it grew 3% YoY to INR24.2b. The management expects VNB growth to remain in the range 12-15% in FY25. * VNB margins came in at 26.9% vs. 28.5% in 2QFY24 and 26.8% ...
Buy SBI Life Insurance Ltd For Target Rs.2,100 By Motilal Oswal Financial Services Ltd
Buy SBI Life Insurance Ltd For Target Rs.2,100 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services ltd
2024-11-04 05:34:39 pm
Neutral Bajaj Finance Ltd For Target Rs. 7,320 By Motilal Oswal Financial Services Ltd Elevated credit costs remain a drag on earnings Broad-based stress across retail and SME; credit cost guidance increased * Bajaj Finance (BAF)’s reported PAT in 2QFY25 grew 13% YoY to ~INR40.1b (in line). NII grew 23% YoY to ~INR88.4b (in line). Non-interest income stood at ~INR21.1b (+3% QoQ). Fee income was lower QoQ due to the transfer of the collections activity to RBL Bank (in its co-branded credit cards). 1HFY25 PAT grew 13% YoY to ~INR79.3b and we estimate 2HFY25 PAT to grew ...
Neutral Bajaj Finance Ltd For Target Rs. 7,320 By Motilal Oswal Financial Services Ltd
Neutral Bajaj Finance Ltd For Target Rs. 7,320 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-11-01 11:41:36 am
Mahindra Auto records highest ever SUV sales in Oct, overall auto growth up 20 pc Leading domestic automobile manufacturer Mahindra & Mahindra Ltd on Friday said that its overall auto sales for the month of September stood at 96,648 vehicles, including exports, which is a 20 per cent year-on-year growth.  In the utility vehicles (SUV) segment, the automaker sold 54,504 vehicles in the domestic market, a growth of 25 per cent and overall, 55,571 vehicles, including exports. The domestic sales for commercial vehicles stood at 28,812, said the company. &ldqu...
Mahindra Auto records highest ever SUV sales in Oct, overall auto growth up 20 pc
Mahindra Auto records highest ever SUV sales in Oct, overall auto growth up 20 pc
Source: IANS
2024-11-01 11:27:18 am
Buy L&T Finance Ltd For Target Rs.197 By Religare Broking Ltd Asset quality remains stable despite challenges in microfinance segment Steady top-line growth: L&T Finance reported a 3.65% (QoQ) and 18.1% (YoY) increase in net interest income, reaching Rs 2,178 crore, driven by robust growth in retail assets like LAP and Home loans. During the quarter, the cost of borrowing moderated by 5bps on QoQ to 7.8%, while other income saw a significant YoY growth of 17.9%. As a result of the healthy growth in retail finance business and other income gro...
Buy L&T Finance Ltd For Target Rs.197 By Religare Broking Ltd
Buy L&T Finance Ltd For Target Rs.197 By Religare Broking Ltd
Source: Religare Broking Ltd
2024-11-01 10:45:22 am
Add ICICI Prudential Life Ltd For Target Rs.850 By Yes Securities Ltd IPRU stagnating at lower RoEV trajectory Our view – Margin decline tempers benefit from growth traction VNB margin – Calculated VNB margin declined on sequential basis on the back of product mix change and pricing issues: The VNB margin for 2QFY25 was 23.4%, down -64 bps QoQ and -458bps YoY. While the share of linked business was steady, the share of Par has gone up sequentially. Secondly, in 2Q, the company was not able to change the pricing on Non-Par and Par products as r...
Add ICICI Prudential Life Ltd For Target Rs.850 By Yes Securities Ltd
Add ICICI Prudential Life Ltd For Target Rs.850 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-01 09:35:47 am
Buy ICICI Lombard Ltd For Target Rs.2,400 By Motilal Oswal Financial Services Ltd Combined ratio higher than estimates by ~200bp * ICICIGI’s GDP grew 11% YoY in 2QFY25 to INR69b (3% miss). NEP grew 17% YoY to INR50b (3% ahead of our estimates). * Claims ratio was largely in line with our estimate at 71.4% (vs. 70.7% in 2QFY24). On a sequential basis, the commission ratio increased ~50bp to 17.5% in 2QFY25 from 15% in 1QFY25 (our est. 17%). The expense ratio increased to 15.6% from 13.3% in 1QFY25 (est. 14%). * A higher-than-expected expense ratio led to a mi...
Buy ICICI Lombard Ltd For Target Rs.2,400 By Motilal Oswal Financial Services Ltd
Buy ICICI Lombard Ltd For Target Rs.2,400 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-10-31 01:01:14 pm
Muthoot Capital Services soars on getting nod to raise Rs 100 crore via NCDs Muthoot Capital Services is currently trading at Rs. 360.95, up by 10.45 points or 2.98% from its previous closing of Rs. 350.50 on the BSE. The scrip opened at Rs. 364.90 and has touched a high and low of Rs. 364.90 and Rs. 350.80 respectively. So far 3247 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 scri...
Muthoot Capital Services soars on getting nod to raise Rs 100 crore via NCDs
Muthoot Capital Services soars on getting nod to raise Rs 100 crore via NCDs
Source: Accord Fintech
2024-10-31 10:55:55 am
Investment Pick For Diwali 2024 : Five Star Business Finance Ltd For Target Rs. 1,165 By Nirmal Bang Ltd * Five Star provides secured business loans to unbanked self-employed individuals excluded by most Banks/NBFCs with ATS (avg loan ticket size) of Rs. 3.5 Lac and total AUM of Rs. 10.3k Cr. * All its loans are secured by borrowers’ property, predominantly self-occupied residential property. * ATS of < Rs. 5 Lacs is the toughest segment to crack owing to complex operational challenges such as (i) requirement of deep knowledge of local area and customer behaviour, (ii) tricky coll...
Investment Pick For Diwali 2024 : Five Star Business Finance Ltd For Target Rs. 1,165 By Nirmal Bang Ltd
Investment Pick For Diwali 2024 : Five Star Business Finance Ltd For Target Rs. 1,165 By Nirmal Bang Ltd
Source: Nirmal Bang Ltd
2024-10-29 12:14:03 pm
Mahindra Finance gains on getting nod to launch co-branded credit cards with RBL Bank Mahindra & Mahindra Financial Services is currently trading at Rs. 276.35, up by 3.45 points or 1.26% from its previous closing of Rs. 272.90 on the BSE. The scrip opened at Rs. 272.90 and has touched a high and low of Rs. 276.75 and Rs. 272.00 respectively. So far 33323 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 342.90 on 27-Sep-2024 and a 52 week low of Rs. 243.90 on 30-Oct-2023. Last one week high an...
Mahindra Finance gains on getting nod to launch co-branded credit cards with RBL Bank
Mahindra Finance gains on getting nod to launch co-branded credit cards with RBL Bank
Source: Accord Fintech
2024-10-29 11:50:38 am
Stock of the day : Piramal Enterprises Ltd For Target Rs. 1147 - Religare Broking Piramal Enterprises Ltd * The technical setup suggests PEL is in a consistent and steady uptrend. * In multiple instances, stock has bounced from its rising trend line support zones. * Also, stock is above its medium and long-term moving averages, keeping positive bias intact. * Expect the trend to continue with further buying triggers that could lead stock to new highs. * Traders are recommended to keep up the positive tone and accumulate in the mentio...
Stock of the day : Piramal Enterprises Ltd For Target Rs. 1147 - Religare Broking
Stock of the day : Piramal Enterprises Ltd For Target Rs. 1147 - Religare Broking
Source: Religare Broking Ltd
2024-10-29 10:37:13 am
Government doubles loan limit under Pradhan Mantri Mudra Yojana to Rs 20 lakh The finance ministry has said that the government has doubled the loan limit under the Pradhan Mantri Mudra Yojana (PMMY) to Rs 20 lakh to promote entrepreneurship in the country. This increase aspires to further the overall objective of the Mudra Scheme which is funding the unfunded.  This enhancement is specifically beneficial to upcoming entrepreneurs facilitating their growth and expansion. The move is in alignment with the government's commitment in fostering a robust entrepr...
Government doubles loan limit under Pradhan Mantri Mudra Yojana to Rs 20 lakh
Government doubles loan limit under Pradhan Mantri Mudra Yojana to Rs 20 lakh
Source: Accord Fintech
2024-10-28 12:11:25 pm
Announcement: Shriram Finance Q2 FY25 Result  The Board Meeting of Shriram Finance Limited (SFL) (Formerly known as Shriram Transport Finance Company Limited (STFC)) was held today to consider the unaudited financial results for the second quarter ended 30th September, 2024. Financials (Standalone) : Second quarter ended 30th September, 2024 : The Net Interest Income for the second quarter ended 30th September, 2024 increased by 16.37% and stood at Rs. 5,606.74 crores as against Rs. 4,818.18 crores in the same period of t...
Announcement: Shriram Finance Q2 FY25 Result
Announcement: Shriram Finance Q2 FY25 Result
Source: PR Agency
2024-10-27 05:56:47 pm
Banks, NBFCs' credit growth to see steady slowdown in current fiscal : ICRA Ratings agency ICRA has said that the slew of regulatory measures and tighter funding conditions in the domestic markets to result in a steady slowdown in credit growth for the lenders, i.e. banks and non-bank financial companies (NBFCs). It estimates the incremental bank credit growth to slow down to Rs. 19.0-20.5 trillion in FY2025, which will translate into a YoY growth of around 12%, compared to Rs. 22.3 trillion in FY2024 (YoY growth of 16.3%).  For the NBFCs , the growth in asse...
Banks, NBFCs' credit growth to see steady slowdown in current fiscal : ICRA
Banks, NBFCs' credit growth to see steady slowdown in current fiscal : ICRA
Source: Accord Fintech
2024-10-25 11:13:20 am
Home First Finance Q2FY25 result announcement Key Highlights: AUM at Rs 11,229 Cr, Up 34.2% y-o-y; 7.2% q-o-q ROE at 16.5% continues to improve. Up 90 bps y-o-y and by 20 bps q-o-q Asset quality remains strong. 30+ DPD at 2.8%; improvement of 10bps, GS3 at 1.7% status quo. Borrowings further diversified to add USD funding through ECB. Commenting on the performance Mr. Manoj Viswanathan, MD & CEO said,  “We are pleased with the company’s strong performance during the quarter...
Home First Finance Q2FY25 result announcement
Home First Finance Q2FY25 result announcement
Source: PR Agency
2024-10-25 10:53:01 am
Choice International surges as its arm all set to acquire NBFC, Loan Distribution Portfolios Choice International is currently trading at Rs. 484.65, up by 11.35 points or 2.40% from its previous closing of Rs. 473.30 on the BSE. The scrip opened at Rs. 484.60 and has touched a high and low of Rs. 487.40 and Rs. 481.00 respectively. So far 4999 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 498.35 on 21-Oct-2024 and a 52 week low of Rs. 193.23 on 26-Oct-2023. Last one week high and low of the scrip st...
Choice International surges as its arm all set to acquire NBFC, Loan Distribution Portfolios
Choice International surges as its arm all set to acquire NBFC, Loan Distribution Portfolios
Source: Accord Fintech
2024-10-23 11:14:29 am
Choice Finserv to Acquire NBFC and Loan Distribution Portfolios, AUM to increase by 75% Choice Finserv Pvt Ltd, the NBFC arm of Choice International Limited, today announced the acquisition of retail lending business of Paisabuddy Finance Private Limited and Sureworth Financial Services Private Limited. This strategic move significantly expands Choice Finserv's presence in the retail loan segments as well its assets under management (AUM). These acquisitions will be done under a slump sale transaction which will be subject to requisite approvals. The acquisition encompass...
Choice Finserv to Acquire NBFC and Loan Distribution Portfolios, AUM to increase by 75%
Choice Finserv to Acquire NBFC and Loan Distribution Portfolios, AUM to increase by 75%
Source: PR Agency
2024-10-22 05:44:26 pm
Bajaj Housing Finance gains on reporting 21% rise in Q2 net profit Bajaj Housing Finance is currently trading at Rs. 137.70, up by 1.15 points or 0.84% from its previous closing of Rs. 136.55 on the BSE. The scrip opened at Rs. 140.70 and has touched a high and low of Rs. 142.30 and Rs. 136.60 respectively. So far 1568751 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 188.45 on 18-Sep-2024 and a 52 week low of Rs. 129.85 on 08-Oct-2024. Last one week high and low of the scrip...
Bajaj Housing Finance gains on reporting 21% rise in Q2 net profit
Bajaj Housing Finance gains on reporting 21% rise in Q2 net profit
Source: Accord Fintech
2024-10-22 12:36:13 pm
HDFC Bank to sell up to Rs 10,000 cr shares via OFS in HDB Financial`s upcoming IPO Leading private lender HDFC Bank on Saturday announced to sell equity shares worth Rs 10,000 crore via an offer for sale (OFS) in the upcoming initial public offering (IPO) of its subsidiary HDB Financial Services Ltd.  The size of the IPO of HDB Financial Services Ltd (HDBFS) will be Rs 12,500 crore, including a fresh issue of Rs 2,500 crore, the bank said in a regulatory filing. “The Board of Directors of the bank approved the offer for sale (OFS) of such number of equity s...
HDFC Bank to sell up to Rs 10,000 cr shares via OFS in HDB Financial`s upcoming IPO
HDFC Bank to sell up to Rs 10,000 cr shares via OFS in HDB Financial`s upcoming IPO
Source: IANS
2024-10-20 09:27:42 am