Month: October 2021

4 Tips For Investing In Gold, In October

Personal Finance

[ad_1]

Read More/Less


Concerns About Gold Rates

The first point will certainly be on the gold pricing ground. Gold rates have again reached above $1760/oz prices in the international markets so, Indian gold rates are gaining again and 22 carat gold prices are staying around Rs. 45,700/10 grams. Gold prices depend on the US dollar index, US Fed’s monetary policy, and the country’s economic developments. Yesterday the Institute for Supply Management (ISM), US released the service sector data which has shown ‘stronger than expected momentum in September’. The non-manufacturing index showed a reading of 61.9% in September, which is higher than August’s reading of 61.7%. The forecasts for the same was around 59.9%, but the figures improved in reality.

US Fed Tapering Timeline

US Fed Tapering Timeline

However, the gold prices might be under pressure for some time in the latter half of October, as the investors will be concerned about the US Federal Reserve tapering timeline. But importantly, September’s employment data is yet to be released which will influence US Federal Reserve to fix their tapering timeline. An early tapering will drag gold rates down, and vice versa. Already US’s inflation is staying at 30 years’ high level at 4.3%. This is an affirmative time for gold prices, but the situation can flip at any time. So, investors and buyers should follow the US employment data next week to have a better idea about upcoming gold rates, in October. Present US Debt ceiling is another point an investor should follow because it will influence the US Dollar index.

Choose Virtual Gold

Choose Virtual Gold

This point is for the investors who are interested to invest in gold for diversifying their portfolio and make better returns. These investors should always choose virtual gold over physical gold. Virtual gold options like gold ETF, Sovereign Gold Bond (SGB) by RBI, digital gold, gold funds are very safe gold options just like other company stocks and mutual funds. If you do not have any compulsion to buy gold jewelleries, then certainly opt for virtual gold. You can buy gold ETF from your mobile mutual fund app, and digital gold any time from Google pay or PhonePe. Additionally, the RBI will also release SGB purchase notice. Virtual gold offers you liquidity at any time, and also you can enter and exit from the investment according to your preferences.

Gold Hallmarking Is Important

Gold Hallmarking Is Important

This point is for those who are looking forward to particularly gold jewelleries. You must be sure that you are buying Hallmarked gold jewelleries. Many people will be buying gold for auspicious occasions like marriage, etc. This should be noted by them. Hallmark determines the purity of gold like 18 carat, 22 carat, or 24 carat. At present, the union government has implemented stringent regulations regarding gold hallmarking and directed all the jewellers to hallmark their golds, for better customer assurance. If you are not buying hallmarked gold jewelleries, then you might face losses at the time of resale. Later if you need liquidity and want to sell your gold at the market prices, then you might not get the same if your gold jewelleries are not hallmarked and filled with impurities. Hallmark is a government BIS mark that will give you full assurance of your jewellery’s authenticity.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Press Releases

Press Releases

[ad_1]

Read More/Less


I. T-Bill 91 days 182 days 364 days
II. Total Face Value Notified ₹10,000 Crore ₹3,000 Crore ₹7,000 Crore
III. Cut-off Price and Implicit Yield at Cut-Off Price 99.1404
(YTM: 3.4777%)		 98.2350
(YTM: 3.6033%) 		96.2681
(YTM: 3.8872%)
IV. Total Face Value Accepted ₹10,000 Crore ₹3,000 Crore ₹7,000 Crore

Ajit Prasad
Director   

Press Release: 2021-2022/991

[ad_2]

CLICK HERE TO APPLY

Leave a comment

The case for being boring with your money, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


The idea of gaining wealth in flashy ways isn’t new. After all, Charles Ponzi, for whom Ponzi schemes were named, defrauded investors more than 100 years ago with a get-rich-quick scheme built on a foundation of lies. Today, speculative investments, multilevel marketing companies and other risky efforts to turn a profit still lay seductive traps.

You can always leave your money alone in an interest-bearing account and let time do its thing, but that doesn’t exactly make for exciting party conversations, does it? So we open and close accounts. We invest in hot stocks and sell them at the first sign of bad news. We mess with our money because, in our minds, growing wealth is supposed to take effort.

“In almost everything else we do, there’s a payoff to activity: If I want to be a good runner, I should run every day. If I want to be a good painter, I should constantly practice,” Morgan Housel, partner at The Collaborative Fund and author of “The Psychology of Money,” said in an email. “But if you want to be a good investor, the best thing by far for people to do is not trade, not tinker, just leave it alone – and I think that’s just so counterintuitive because it’s so unique to investing.”

In a world full of financial influencers peddling products and friends bragging about buying NFTs, it’s perfectly fine to manage your money in a mostly yawn-inducing way. Here’s why.

BEING BORING GIVES YOU MORE TIME TO LIVE YOUR LIFE

Dealing with your money is a necessary chore, and it’s not exactly fun. Thankfully, we live in efficient times. In a few minutes, you can set up automatic money transfers that quietly send your cash into separate accounts serving different purposes. Why keep money management on your to-do list when it can happen on its own quite literally while you sleep?

“Money is a means by which you live your life, not life itself,” Meg Bartelt, financial planner and founder of Flow Financial Planning, said in an email. “The more complicated, changeable or scary your investments are, the more time you spend working on them or thinking about them, and therefore the less time you have to live life.”

BEING BORING KEEPS YOU FROM MAKING RASH DECISIONS

It’s important to take a peek at your investment accounts periodically, but obsessing over every market move is exhausting and counterproductive. It can lead to making reactive decisions that hurt your wealth in the long run.

Choosing to be boring with your money is an exercise in letting go of the illusion of total control. Yes, there will always be round-the-clock financial news, but not everything happening in the larger economy affects you as an individual. Turn off news and stock market alerts on your phone so you no longer feel that itch to react. Instead, mindfully decide when to watch the news and check on your accounts so you can stay informed with less stress.

WHAT BORING MONEY MANAGEMENT LOOKS LIKE

– CREATE A PLAN YOU (MOSTLY) STICK TO: Bartelt finds that, whether her clients avoid their money or obsessively track it, it’s because they all feel the same emotion: fear. The antidote is a financial plan based on specific goals and values. “Having a plan is reassuring,” she said. “Once they have the plan, or hell, once they know they’re going to have one, people relax.” Base your savings and investing goals on what you intend to spend money on in the short-, medium- and long-term. Leave wiggle room for life changes and other uncertainties, because those are guaranteed to happen.

– PREPARE FOR EMERGENCIES: There’s nothing particularly sexy about emergency funds, life insurance and up-to-date wills, but should the unexpected happen, these things can help you stay financially steady.

– AUTOMATE YOUR MONEY: Transfer funds automatically from checking to savings or from checking to a brokerage account. Contributing to a 401(k) through your job is automation, too, since that money comes out of your paycheck directly. Making regular contributions to different accounts, and increasing them as your budget allows and goals shift, will grow your nest egg.

Once you have your boring financial foundation in place, you can sprinkle on some riskier investments if you want. But remain faithful to your plan. “You have to actively and continuously ignore the ubiquitous distractions, charlatans, and blowhards in order to stay true to your own values and goals,” Bartelt said.

______________________________________

This column was provided to The Associated Press by the personal finance site NerdWallet. The content is for educational and informational purposes and does not constitute investment advice. Sara Rathner is a writer at NerdWallet. Email: srathner@nerdwallet.com. Twitter: @SaraKRathner.

RELATED LINKS:

NerdWallet: What Is a Financial Plan, and How Can I Make One? https://bit.ly/nerdwallet-financial-plan



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , ,

3 Board Meetings For Bonus Issue, Stock Split And Quarterly Results & 2nd Interim Dividend

Personal Finance

[ad_1]

Read More/Less


1. Medico Remedies:

The company is a pharmaceutical formulation manufacturing entity with manufacturing and marketing capabilities in formulation and focus chiefly on anti-infective, Beta-Lactums.

The company in an exchange filing on September 30,2021 announced that its board will consider bonus issue. Medico Remedies informed BSE that the meeting of the Board of Directors of the Company is scheduled to be held on October 07, 2021 to recommend and approve issue of Bonus shares to the equity shareholders of the Company. Other than that the company will also transact some of the other dealings such as consider increase in the authorized share capital, approval for the proposal of Migration of Company from SME platform of BSE to Main Board of BSE Limited as well as on the Main Board of NSE Limited etc.

Medico Remedies second quarter earnings are also expected on October 7, 2021. The company’s 52-week high price hit today is Rs. 312.3 per share.

2. Earum Pharmaceuticals

2. Earum Pharmaceuticals

The company incorporated in the year 2012 is a Small Cap scrip with a market capitalization of Rs. 135 crore. The company into the pharma business is involved in marketing, trading and distribution of wide range of pharmaceutical formulation products such as anti-biotic drugs, anti-malarial drugs, anti-allergic & anti cold drugs, analgesic/ anti-pyretic & anti inflammatory drugs, dermatology products, cerebral activator drugs, neurological drugs, gastro intestinal drugs, steroids, gynecology drugs, calcium, multivitamins, anti-oxidants and injections. Other than this, the company also deals in the trading of APIs or active pharmaceutical ingredients.

The company via BSE filing dated September 23, 2021 informed that the board meet is scheduled for October 8 to consider proposal of split/ sub-division of Equity Shares of the Company.

Note: A stock split is a corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares.

3. TCS:

3. TCS:

Tata Consultancy Services, the global leader in IT and consulting services offers a range of services from cloud, analytics and insights, blockchain to cyber security and quality engineering among others.

The company’s board meet is scheduled for October 8, 2021 wherein the main agenda remains announcement of second quarter earnings and second interim dividend for the FY22.Earlier the tech company declared an interim dividend of Rs. 7 per share for which the stock turned ex-dividend on July 15, 2021.

GoodReturns.in



[ad_2]

CLICK HERE TO APPLY

Leave a comment

SBI Gold Deposit Scheme: All You Need To Know About

Personal Finance

[ad_1]

Read More/Less


Investment

oi-Vipul Das

|

The State Bank of India (SBI) provides the Revamped Gold Deposit Scheme (R- GDS), which is a gold-based fixed deposit. Gold holders can store their unused gold with R- GDS, which will allow article security, interest payment, and other benefits. Let’s discuss in brief SBI’s Revamped Gold Deposit Scheme (R-GDS).

Features and benefits

Features and benefits

  • Customers can earn interest in their dormant gold assets by engaging in this scheme.
  • This scheme comes with Short Term Bank Deposit (STBD) with tenure ranging from 1 to 3 years, Medium Term Government Deposit (MTGD) of tenure ranging from tenure 5 to 7 years and Long Term Government Deposit (LTGD) with tenure ranging from 12 to 15 years.
  • On behalf of the Central Government, the SBI will accept the deposit of eligible customers.
  • A deposit quantity of at least 10 grammes with no upper limit of raw gold bars, coins, or jewellery, excluding stones and other metals, is allowed under the scheme for deposit.
  • Individual contributions in single names are eligible for the nomination facility also.
  • Currently the rate of interest for STBD will be 0.50% p.a. for 1 year, 0.55% p.a for above 1 year up to 2 years and 0.60% p.a for above 2 years up to 3 years. On STBD a, the principal will be valued in gold and the interest on STBD, on the other hand, will be computed in Indian Rupees, based on the worth of gold at the time of deposit.
  • For MTGD the rate of interest charged will be 2.25% p.a and on LTGD the rate of interest will be 2.50% p.a.
  • The principal will be valued in gold in the case of MTGD & LTGD. The interest, on the other hand, will be paid in Indian Rupees on the 31st of March each year, or at the maturity date, whichever comes first.
  • On maturity, the depositor will have the alternative of receiving simple interest or cumulative interest (compounding yearly). The selection must be made at the time of registration of the deposit.

Eligibility Criteria

Eligibility Criteria

Here are the eligibility criteria of the scheme that resident Indian depositors must need to know:

  • Individuals, singly or jointly (as Former or Survivor)
  • Proprietorship & Partnership firms.
  • HUFs
  • Trusts including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations
  • Companies
  • Charitable institutions
  • Central Government
  • State Government or any other entity owned by Central Government or State Government
  • Gold will be approved in its purest form, such as gold bars, coins, and jewellery, rather than stones or other metals. Customers must submit an application form attached with proof of identification, proof of address, and an inventory form at the time of making the deposit.

Repayment

Repayment

STBD: This option is allowed to get principal repayment in gold or equivalent rupees at the time of maturity.

MTGD & LTGD: The deposit will be redeemed in gold or the INR equivalent of the gold value at the time of redemption. Upon redeeming in gold, however, there will be a 0.20 percent administrative fee.

Premature payment

STBD: Allowable after a one-year lock-in term with a penalty on the relevant interest rate.

MTGD: Withdrawal is permitted at any time after three years with a penalty on interest.

LTGD: Withdrawal is permitted at any time after 5 years, with an interest penalty.

Gold deposit certificate

Gold deposit certificate

  • Gold Deposit Certificate will be issued and granted by Nodal Branch (i.e. Bullion Branch, Mumbai).
  • The certificate will be provided for the contents of pure gold (i.e. in 995 purity).
  • Nodal Branch, i.e. Bullion Branch, Mumbai, shall send Gold Deposit Certificate (GDCs) to the depositor.
  • Interest will commence accruing on deposits under the scheme 30 days after the gold is deposited or when it is converted into marketable gold bars after refining, whichever comes first.

Interest rate on Gold Related Products for last 10 years (in %)

Interest rate on Gold Related Products for last 10 years (in %)

Scheme 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Gold Deposit Scheme Oct-15
Scheme A (3 Year) 1 0.75 0.75 0.75 0.75 0.75 0.5
Scheme B (4 Year) 1.25 1 1 1 1 1 0.75
Scheme C (5 Year) 1.5 1 1 1 1 1 0.75
Revamped Gold Deposit Scheme Nov-2015
Scheme A (1 Year) 0.5 0.5 0.5 0.5 0.5 0.5 0.5
Scheme A (2 Year) 0.55 0.55 0.55 0.55 0.55 0.55 0.55
Scheme A (3 Year) 0.6 0.6 0.6 0.6 0.6 0.6 0.6
Scheme B (5-7 Years) 2.25 2.25 2.25 2.25 2.25 2.25 2.25
Scheme C (12-15 Years) 2.5 2.5 2.5 2.5 2.5 2.5 2.5
Source: Bank Website

Story first published: Wednesday, October 6, 2021, 12:28 [IST]



[ad_2]

CLICK HERE TO APPLY

Leave a comment

This Bank Stock Is A ‘Buy’ By Emkay Global For Potential Gains Upto 18%

Personal Finance

[ad_1]

Read More/Less


IndusInd Bank: Business Update – Q2FY22

According to the brokerage, deposit growth was significant at 21% yoy/3 percent qoq, with CASA at a high and healthy 42 percent. Retail deposits and deposits from small businesses increased by 48 percent year over year and 6 percent quarter over quarter, accounting for 41 percent of total loans (33 percent in Q2FY21). We believe that better credit growth and thus LDR at 80% should partly improve margins qoq.

The IIB did not release any new asset quality upgrades. Management claimed increased collection efficiency in VF in a recent interview; nevertheless, MHCV, which includes the Bus segment, remained weak.

Business growth improving; outlook on growth/asset quality key monitorables

The brokerage expects that, given lesser stress in MFI and the absence of any lumpy corporate stress, NPA development will be moderate qoq. However, IIB intends to make accelerated provisions on Vodafone in Q2, primarily to cover FB exposure (Rs9.5 billion), and may reverse the same at a later date if visibility improves. This should keep provisions high and profitability low in the second quarter.

IndusInd Bank: Outlook and Valuation

IndusInd Bank: Outlook and Valuation

“We appreciate management’s conservative stance to make accelerated provisions on Vodafone despite a recent positive move from the government. The provisions can be reversed as the group’s growth visibility improves. Currently, we have a Buy rating on the stock with a Target Price of Rs 1,375, given a remarkable improvement in its liability profile after a scare earlier, re-accelerating credit growth, expected improvement in return ratios (RoE ~15-17% over FY23-24E) and reasonable valuations (1.7x Sep’23E ABV),” the brokerage has said.

Results

IIB reported stronger-than-expected credit growth of 10% year-over-year and 5% quarter-over-quarter (total loans at Rs2.2 trillion), indicating underlying strong credit re-acceleration in the retail book. Notably, IIB has been growing its corporate book since Q1, and we expect the bank’s corporate book will continue to increase in Q2.

The company reported a Consolidated Total Income of Rs 9362.76 Crore for the quarter ended June 30, 2021, up 1.77 percent from the previous quarter’s Total Income of Rs 9199.71 Crore and up 7.84 percent from the same quarter last year’s Total Income of Rs 8682.17 Crore. In the most recent quarter, the bank posted a net profit after tax of Rs 1016.05 crore.

Disclaimer

Disclaimer

The investment ideas are picked from the brokerage report of Emkay Global financial Service. Investors should note that investing in stocks is risky and neither the author, nor Greynium nor the brokerage would be responsible for losses based on a decision from the above article.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

ICICI Bank launches contactless payment service via iMobile Pay app, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


ICICI Bank, in partnership with Visa and Comviva, has launched a contactless payment service through its banking app, iMobile Pay.

The service enables customers to tap their smartphones to pay at POS (Point of Sale) machines of merchant outlets without carrying their cards for payments at retail stores.

Based on the Near Field Communications (NFC) technology, the payment service enables customers to create digital versions of their physical ICICI Bank debit and credit cards on the iMobile Pay app. Using the digital cards, customers can initiate electronic payments at merchant outlets from NFC enabled Android smartphones by waving their phone near a contactless POS device.

Customer’s card details are not shared during the transaction process and are stored virtually in the Bank’s secure cloud server.

The facility of ‘Tap to Pay’ through iMobile Pay is currently available on Visa cards and will be activated on Mastercard cards too.

Customers can follow below given steps to avail the service:

1. One time activation:

> The customer has to login to iMobile Pay app and click on ‘Tap to Pay’ icon on the login page or ‘Shop’ section.

> Then the customer needs to select registered debit and credit cards to make a digital version and then click on ‘I Agree’ to accept the terms & conditions.

> The customers can create virtual cards against each of their ICICI Bank Visa credit and debit cards

2. Making a payment:

> Log in to iMobile Pay app and click on ‘Tap to Pay’ on login page or ‘Shop’ section

> Select a virtual Visa card to make the payment and wave or tap the phone near the NFC enabled POS device

> A message of ‘Payment initiated successfully’ appears on the phone confirming the transaction



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , , ,

Bank, NBFCs report spurt in Q2 advances as lending recovery picks up, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


Most banks and non-banking finance companies reported a jump in disbursal of advances in the quarter ended September in a sign that credit uptake is rising.

HDFC Bank saw its advances book grow by around 15.4% year on year at the end of the September quarter, proforma numbers released by the private sector lender showed. Its total loans aggregated to Rs 11.98 lakh crore at the end of September, up 4.4% sequentially. Its total loans were at Rs 10.38 lakh crore at the end of September 2020.

As per the bank’s internal business classification, retail loans during the September quarter grew by around 13% year on year and 5.5% over June quarter. Commercial and rural banking loans grew by around 27.5% y-o-y while other wholesale loans grew by around 6%.

Mortgage lender HDFC assigned loans amounting to Rs 7,132 crore at the end of the September quarter versus Rs 3,026 crore a year earlier. It sold loans

worth Rs 27,199 crore in the preceding 12 months versus Rs 14,138 crore in the previous year, regulatory filings show.

Private sector lender

IndusInd Bank

IndusInd Bank reported better-than-expected credit growth of 10% with total loans at Rs 2.2 lakh crore at the end of the September quarter, preliminary numbers filed with stock exchanges showed.

IDFC First Bank posted 9.75% growth in advances at Rs 1,17,243 crore for the second quarter ended September.

Private lender Yes Bank posted a 3.6% rise in its advances to Rs 1.72 lakh crore, though retail disbursements grew at a faster rate and grew by 126.6% over last

year to Rs 8531 crore at the end of the September quarter as against Rs 3764 crore a year ago.

NBFCs

Leading non-bank lender Bajaj Finance reported it had booked 6.3 million new loans at the end of the September quarter versus 3.6 million a year ago. It’s

assets under management (AUM) stood at Rs 1.66 lakh crore for the quarter under review as against Rs 1.37 lakh crore a year earlier.

Non-bank lender Mahindra & Mahindra Financial Services posted a 60% year-on-year growth in disbursements at Rs 6,450 crore at the end of the September

quarter. With further improvement in mobility during September, the collection efficiency for the NBFC was reported at 100% for September 2021.

Subject to improvement in auto supply chain, the company is hopeful of a good Q3 FY22 ahead, supported by festival season and harvest cash flow.” M&M Finance said.

AU Small Finance Bank

AU Small Finance Bank Ltd’s total deposits were up 45% on year at Rs 39,030 crore as of September 30, according to provisional data from the bank. Gross advances rose 32% on year to Rs 36,405 crore. Of the total gross advances, the small finance bank restructured 800 accounts worth Rs 800 crore in July-September. Disbursements rose 57% on year and 171% on quarter to Rs 5135 crore. It also made disbursements worth 530 mln rupees under the Reserve Bank of India’s targeted long-term repo operations.

RBL Bank’s total deposits rose 17% on year as of Sep 30, according to provisional data from the bank. Deposits stood at 755.9 bln rupees, up 1% on quarter. The bank’s gross advances rose 1% on year to Rs 58,046 crore as on September 30. Of the gross advances, 55% comprised retail advances while the remaining 45% is in the wholesale category.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , , , , ,

Top 5 Gold ETFs In October, According To Company Market Capitalizations

Personal Finance

[ad_1]

Read More/Less


Investment

oi-Kuntala Sarkar

|

Gold Exchange Traded Funds (ETFs) are like company stocks; one can purchase these from a mobile mutual fund app, through a Demat account. It is a virtual mode of gold investment, popular among investors who do not want to worry about storage costs, and making charges on physical gold jewelleries. These are lucrative opportunities to invest in gold, with far lower costs, than gold jewelleries. However, a Gold ETF derives its value from the current gold rates and the stocks of gold-related companies. Then why different gold ETFs are priced differently? And how can one decide where to invest in gold ETFs?

Top 5 Gold ETFs In October, According To Company Market Capitalizations

Market capitalizations

One should research wisely before investing in any portfolio considering the company’s market capitalization. The way one analyses the Asset Under Management (AUM) for the mutual fund, is the same conception for gold ETF. A better market capital will give you a security of easier liquidity, better numbers of daily trades, and certainly more assurance. For example, if the gold rates are suddenly down and you want to sell your gold ETF, you might face some difficulties in the case of companies with lower market capitalizations. Because the company might fail to provide enough security or backup to your gold ETF. The price of a unit or the NAV of a gold ETF will vary depending on the company and it will also vary upon the amount of gold. If the NAV is lower that certainly means you will be holding a lower amount of gold, and vice versa. So, a lower NAV does not mean that this gold ETF is inadequate than others.

Top 5 gold ETFs

The top 5 gold ETFs in October 2021 are SBI Gold ETF, Birla Gold ETF, HDFC Gold ETF, UTI Gold Share, and Nippon ETF Gold, in terms of company market capitalizations. NAV of the gold ETF is highest for the SBI Gold ETF, and the Birla Gold ETF because they offer a higher amount. However, concerning the market capitalization, SBI has always stayed on top with around Rs. 317.10 crore level, as of October 5. hence, even if the SBI gold ETF unit cost is higher than other funds, investors are inclined towards this fund. Investors lookout for companies with at least more than Rs. 3 crore market capitalization for gold ETF, and compared to that, SBI Gold ETF is in a far better position. On the other hand, HDFC gold ETF has also given good returns considering the last 52 weeks’ high and price change.

SBI Gold ETF

SBI Gold ETF’s market capital has been Rs. 316.40 crore, and the last unit price was Rs. 4140.85.

Birla Gold ETF

Birla Gold ETF’s market capital has been Rs. 96.32 crore, and the last unit price was Rs. 4225.

HDFC Gold ETF

HDFC Gold ETF’s market capital has been Rs. 6.37 crore, and the last unit price was Rs. 41.38.

UTI Gold Share

UTI Gold Share’s market capital has been Rs. 5.68 crore, and the last unit price was Rs. 40.95. Among all of these 3 gold ETFs, this fund has been in the best position considering its returns on October 6, at 0.17% than yesterday.

Nippon ETF Gold

Nippon ETF Gold’s market capital has been Rs. 4.14 crore, and the last unit price was Rs. 40.35.

(Figures as of October, 6, 9.43 AM)

Gold is concerned as a hedge against investment and it is recommended to have around 15% gold investment to diversify the risk of your portfolio. Considering this, gold ETFs are one of the best options for gold holding to have good long-term returns.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

3 Banking Stocks To Buy As Recommended By Brokerages

Personal Finance

[ad_1]

Read More/Less


1. HDFC Bank:

Axis Securities suggest buying the stock of HDFC Bank for a target price of Rs. 1770 per share, i.e. an upside of over 10 percent from the last traded price of Rs. 1606.

Highlights of the stock

• Strong Advances growth: In Q2FY22, Advances growth remained strong at 15.4%/4.4% YoY/QoQ to Rs 11,985 Bn, better than the industry average of ~6%. In the previous quarter, Advances were up 14.4%/1.3% YoY/QoQ.

• Loan mix: Retail book witnessed an improvement of 13%/6% YoY/QoQ, led by traction in Cards, Housing Loans, and Vehicle Finance. In Q1FY22, retail loans had de-grown 1% QoQ. Commercial & Rural banking continued to do well, growing at 28%/8% YoY/QoQ

(25%/4% YoY/QoQ growth in Q1FY22). Wholesale loans moderated with a growth of 6% YoY and 0.5% QoQ (10.5%/1.5% YoY/QoQ growth in Q1FY22).

• Healthy Deposit growth: HDFCB continues to see healthy traction in deposits, as will be visible in most large banks. Deposits were up 14% YoY and 5% QoQ to Rs 14,060 Bn. Retail deposits grew by ~17.5%/4% YoY/QoQ. Wholesale deposits grew by ~2%/5.5%

YoY/QoQ.

• Strong CASA: CASA traction remains strong, up 29% YoY and 8% QoQ, resulting in a sharp improvement in CASA ratio to 47% from 41.6% YoY.

On the growth front, the bank has managed to sustain its performance even amid Covid related business disruption. The bank also gained market share as it performed better than the overall industry growth.

Moreover, the brokerage expects growth in the credit card portfolio to improve with the lifting of the credit card embargo in Aug ’21. The bank has also inked strategic agreement with payments solution company Paytm for offering financial solutions.

“While there are still niggling issues on account of the RBI cap on fresh digital launches and recent whistleblower allegations on fees, we expect these

will have to be aptly taken care of.

We believe HDFC Bank remains one of the resilient stocks in the sector. We maintain a BUY on the stock with a target price of Rs 1770/share (SOTP basis core book at 3.6x FY23Eand Rs 48 Subsidiary Value)”, says the brokerage firm.

2. Canara Bank:

2. Canara Bank:

ICICI Direct has suggested to buy the stock of Canara Bank in the price range of Rs. 163-166 for a target price of Rs. 195. The scrip is a buy for 3 months and the stop loss suggested is Rs. 148. Note from the current market price of Rs. 182, the targets given imply an upside of

Rationale for the buy on Canara Bank

Canara Bank has failed to perform in line with the markets and remained under pressure despite continued buying in the markets. However, the stock is exhibiting significant accumulation in its price distribution pattern. The daily returns are largely distributed from 0% to 2%. Furthermore, the right tail is almost similar to the left tail but a bit longer suggesting positive bias prevailing in the stock.

From a delivery perspective, despite range bound move seen in the last couple of weeks and underperformance vis-à-vis index, delivery activity is clearly visible. It seems like there is ongoing accumulation in the stock at lower levels. The Z score has also hovering towards positive territory suggesting buyers accumulating the stock.

The 30 day volatility moved higher than its 60 day volatility due to recent up move being seen in the stock. However, we believe it will subside in the days to come and ongoing momentum may continue in the stock.

3. Federal Bank:

3. Federal Bank:

Axis Securities suggests a buy on Federal Bank for a target price of Rs. 100 i.e. an upside of 16 percent from the stock’s last traded price of Rs. 86.15.

Key highlights about Federal Bank

• Gross Advances delivers healthy growth: Gross Advances grew 9.7%/3.4% YoY/QoQ to Rs 1,373 Bn compared to a growth of 7.6% YoY and a de-growth of 1.6% QoQ in Q1FY22. We expect the loan growth to be driven largely by retail, gold loans, and government-

guaranteed schemes.

• Good traction in deposits: FB continues to witness good traction in deposits with growth of 9.7%/1.5% YoY/QoQ to Rs 1,720 Bn. This was led largely by CASA growth of 17.8/5.5% YoY/QoQ, improving it to 36.2% from 33.7%/34.8% YoY/QoQ.

• Healthy growth in deposits: Customer deposits were up 11/2.5% YoY/QoQ to Rs 1,687 Bn. Inter-bank deposits de-grew 54%/44% YoY/QoQ to Rs 13 Bn. Certificate of deposits (CoD) declined 20.5% QoQ and was up 4.9% YoY to Rs 19 Bn.

• Liquidity Coverage Ratio remains high: Liquidity Coverage Ratio (LCR) remains high at 225.9% vs. 266.3%/215.9% as of YoY/QoQ.

• Better-than-industry average growth: Overall business growth at 9.7% YoY was better-than-industry average growth. Sequentially, business growth of 2.4% was better than the 1.7% decline in Q1FY22 witnessed amidst lockdowns.

• Healthy CDR: Credit Deposit Ratio (CDR) remained healthy at 79.8% vs. 79.9%/78.4% YoY/QoQ

The brokerage house continues to believe that Federal Bank is well-placed on account of its improved business mix, strong liability franchise, adequate capitalisation, and better-rated borrowers. The bank has invested and revamped its high-margin product portfolio such as Business Banking and select Retail lending segments (CVs, MFI, and Credit Cards). New focus segments will gradually boost margin improvement which will lead to sustainable high ROAs.

“We maintain a BUY rating on the stock in the backdrop of attractive valuations and value it at 1.1x FY23E ABV to arrive at a target price of Rs 100”, adds the brokerage house.

Disclaimer:

Disclaimer:

The investment ideas are picked from the brokerage report of ICICI Direct and Axis Securities. Investors should note that investing in stocks is risky and neither the author, nor Greynium Information Technologies Pvt Ltd, nor the brokerage would be responsible for losses based on a decision from the above article.



[ad_2]

CLICK HERE TO APPLY

Leave a comment
1 … 98 99 100 101 102 … 122