Reserve Bank of India – Press Releases
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Ajit Prasad Press Release: 2021-2022/1008 |
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Month: October 2021
RBI says reviewing ATM outage circular after bank’s feedback, BFSI News, ET BFSI
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The Reserve Bank of India on Friday said that it was reviewing its recent scheme on ATM replenishment whereby the regulator put in place mechanisms to penalise lenders. The central bank deputy governor T Rabi Shankar said that they had received inputs from banks and were in the process of reviewing it.
“The idea behind the penalty on outages in ATMs was to ensure that these services are available as much as possible in areas where the attention to ATMs is less, which is largely rural and semi-urban areas,” Shankar said. “We have received various feedback, some positive while some raise concerns. There are issues specific to location (of ATMs). We are trying to take all the feedback and have a review and see how best it can be implemented.”
ET was the first to report in its September 9 edition that lenders had approached the RBI seeking relaxation in its scheme citing issues of replenishing ATMs in rural geographies that could significantly push up costs and make business unviable.
In August, the banking regulator directed banks and white label ATM operators to strengthen systems that will allow them to monitor the availability of cash in ATMs and ensure timely replenishment to avoid cash-out situations. As part of the circular, a penalty of Rs 10,000 per ATM will be levied in the event of a cash-out situation for more than 10 hours in a month.
Banks were of the view that cash availability will drop as they go deeper in rural geographies as the cost to set up and maintain ATMs is high.
“Cost of transportation for ATM fitted notes is very high in rural India because of the distance between ATMs and the sparse network,” a banker said on the condition of anonymity. “Generally cash management companies and ATM service providers visit once in a few days to replenish cash and fix other tech or hardware issues.”
Banks have been slowly reducing ATM presence as they operationalise overall costs. Recently, Small finance bank Suryoday decided to shut down all its 26 automated teller machines, giving customers the option to use their debit cards on other banks’ ATMs, becoming the first domestic lender to completely do away with such machines. The small finance bank is formulating a strategy where it would offer its customers 5-7 transactions free per month when they use the ATM network of other banks to withdraw cash.
At the end of August there were 2.13 lakh ATMs in the country up from 2.09 lakh same time last year, a meagre growth of 1.5%. On the flip side the micro-ATMs have grown to 4.94 lakh as against 3.07 lakh in August last year, a rise of over 60%.
In order to make the business more viable the RBI recently increased the interchange fee on ATM transactions from Rs 15 to Rs 17. ATM interchange is the charge paid by the bank that issues the card (issuer) to the bank where the card is used to withdraw cash (acquirer).
In addition to this, the cap on fee that can be charged to the customer, which is capped at Rs 20 per transaction, was also increased to Rs 21.
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Reserve Bank of India – Annual Report
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April 14, 2015
Dear All
Welcome to the refurbished site of the Reserve Bank of India.
The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.
With this makeover, we also take a small step into social media. We will now use Twitter (albeit one way) to send out alerts on the announcements we make and YouTube to place in public domain our press conferences, interviews of our top management, events, such as, town halls and of course, some films aimed at consumer literacy.
The site can be accessed through most browsers and devices; it also meets accessibility standards.
Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank.
Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site.
Thank you for your continued support.
Department of Communication
Reserve Bank of India
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All You Need To Know About PM CARES For Children Scheme
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Objective of the scheme
To provide protracted extensive care and protection for children who have lost a parent or both parents to the COVID pandemic, including enabling their health and quality of life through health insurance, empowering them through education, and empowering them for self-sufficiency with financial support once they reach the age of 23.
The PM CARES for Children initiative, among other aspects, includes assistance to these children through a multimodal strategy, gap funding for schooling and health, a monthly stipend starting at the age of 18, and a lump sum payout of Rs. 10 lakh when they reach the age of 23.
Period
To benefit from the PM CARES for Children Scheme, eligible children must be registered between May 29, 2021 (the date of the Hon’ble PM’s announcement) and December 31, 2021. The scheme is scheduled to run until each registered recipient reaches the age of 23 years old.
Eligibility Criteria
Children who have lost both parents or a surviving parent or legal guardian/adoptive parents/single adoptive parent as a result of the COVID 19 pandemic are eligible for benefits under this scheme beginning on 11.03.2020, the date on which WHO declared and characterised COVID-19 as a pandemic, and ending on 31.12.2021. On the date of the parent’s death, the child should not have reached the age of eighteen.
Available entitlements under the scheme
a) Efforts will be made by the District Magistrate with the assistance of the Child Welfare Committee (CWC) to explore the possibility of rehabilitating the child within her/his extended family, relatives, kith, or kin.
b) If the extended family, relatives, kith or kin of the child are not available/not willing/not found fit by CWC or the child (aged 4 -10 years or above) is not willing to live with them, the child should be placed in foster care, after due diligence as prescribed under the Juvenile Justice Act, 2015 and rules made thereof as amended from time to time.
c) If the Foster family is not available/not willing /not found fit by CWC, or the child (aged 4 -10 years or above) is not willing to live with them, the child should be placed in age-appropriate and gender-appropriate Child Care Institution (CCI).
d) Children more than 10 years old, not received by extended families or relatives or foster families or not willing to live with them or living in child care institutions after the demise of parents, maybe enrolled in Netaji Subhash Chand Bose Awasiya Vidyalaya, Kasturba Gandhi Balika Vidyalaya, Eklavya Model Schools, Sainik School, Navodaya Vidyalaya, or any other residential school by the District Magistrate, subject to the respective scheme guidelines.
e) It may be ensured that the siblings stay together, as far as possible.
f) For non-institutional care, financial support at the prevailing rates prescribed under the Child Protection Services (CPS) Scheme shall be provided to Children (in account with guardians). For children in institutional care, a maintenance grant at the prevailing rates prescribed under the Child Protection Services (CPS) Scheme shall be given to Child Care Institutions. Any provision for subsistence support under the State scheme may also be provided additionally to the children.
ii. Assistance for Pre-school and School Education
a. For children below 6 years of age, identified beneficiaries will receive support and assistance from the Anganwadi services for supplementary nutrition, pre-school education/ ECCE, immunization, health referrals, and health check-up.
b. For children below 10 years of age
i) Admission shall be provided in any nearest school as a day scholar i.e. Government/ Government aided School/ Kendriya Vidyalayas (KVs)/ Private Schools.
ii) In Government Schools, two sets of free uniforms and textbooks shall be provided, under Samagra Shiksha Abhiyan, as per the scheme guidelines.
iii) In private schools, tuition fees shall be exempted under section 12(1)(c) of RTE Act.
iv) Under circumstances where a child is unable to receive the above benefits, the fees, as per the RTE norms, will be given from the PM CARES for Children scheme. The Scheme will also pay for expenditure on uniforms, textbooks, and notebooks.
c. For children between 11-18 years of age
i) If the child is living with the extended family, then admission in the nearest Government/ Government aided School/ Kendriya Vidyalayas (KVs)/ Private Schools as a day scholar may be ensured by the DM.
ii) The child may be enrolled in Netaji Subhash Chand Bose Awasiya Vidyalaya/ Kasturba Gandhi Balika Vidyalaya/ Eklavya Model Schools/Sainik School/ Navodaya Vidyalaya/ or any other residential school, by the DM, subject to the respective scheme guidelines.
iii) The DM may make alternative arrangements for accommodation of such children during vacations at CCIs or any appropriate place.
iv) Under circumstances where a child is unable to receive the above benefits, the fees, as per the RTE norms, will be given from the PM CARES for Children scheme. The scheme will also pay for expenditure on uniforms, textbooks, and notebooks.
d. Assistance for Higher Education:
i) The child will be assisted in obtaining an education loan for Professional courses /Higher Education in India.
ii) Under circumstances where the beneficiary is unable to avail interest exemption from extant Central and State Government scheme, then the interest on the educational loan will be paid from PM CARES for Children Scheme.
iii) As an alternative, scholarship as per the norms will be provided to the beneficiaries of the PM CARES for Children Scheme from the schemes of Ministry of Social Justice and Empowerment, Ministry of Tribal Affairs, Ministry of Minority Affairs, and Department of Higher Education. Beneficiaries will be assisted through the National Scholarship portal for availing of such entitlements. The scholarship awarded to the beneficiaries will be updated on the PM CARES for Children portal.
iii. Health Insurance:
a. All children will be enrolled as a beneficiary under Ayushman Bharat Scheme (PM-JAY) with a health insurance cover of Rs. 5 lakhs.
b. It shall be ensured that the child identified under PM CARES for Children scheme receives benefits under PM JAY.
iv. Financial Support:
a. The lump sum amount will be transferred directly in the post office account of beneficiaries upon opening and validation of the account of the beneficiaries. A pro-rata amount will be credited upfront in the account of each identified beneficiary such that the corpus for each beneficiary becomes Rs. 10 lakhs at the time of attaining 18 years of age.
b. Children will receive a monthly stipend once they attain 18 years of age, by investing the corpus of Rs 10 lakhs. The beneficiary will receive a stipend till they attain 23 years of age.
c. They will receive an amount of Rs. 10 lakh on attaining 23 years of age.
Key features available to children under Ayushman Bharat Pradhan Mantri-Jan Arogya Yojana (PM-JAY)
- PM-JAY provides a cover of Rs. 5 lakhs per family per year for secondary and tertiary care hospitalization, across public and private impanelled hospitals in India.
- In case of a child identified for support under PM CARES for Children, he/she shall be entitled to the cover of Rs. 5 lakh.
- PM-JAY provides cashless access to health care services for the beneficiary at the point of service, that is, the hospital.
- It covers up to 3 days of pre-hospitalization and 15 days post-hospitalization expenses such as diagnostics and medicines.
- End to end paperless
- All pre-existing conditions are covered from day one.
- Benefits of the scheme are portable across the country i.e. a beneficiary can visit any empanelled public or private hospital in India to avail cashless treatment.
- Services include approximately more than 1600 procedures covering all the costs related to treatment, including but not limited to drugs, supplies, diagnostic services, physician’s fees, room charges, surgeon charges, OT, and ICU charges etc.
- Public hospitals are reimbursed for the healthcare services at par with the private hospitals.
Benefit Cover under PM-JAY
All expenses made on the following factors of the treatment are covered under the scheme.
- Medical examination, treatment, and consultation
- Pre-hospitalization
- Medicine and medical consumables
- Non-intensive and intensive care services
- Diagnostic and laboratory investigations
- Medical implantation services (where necessary)
- Accommodation benefits
- Food services
- Complications arising during treatment
- Post-hospitalization follow-up care up to 15 days
- More information is available on the PM CARES for Children portal.
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Reserve Bank of India – Press Releases
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The Reserve Bank has undertaken various initiatives to realise India’s vision on payment systems by fostering an ecosystem that enables safe, quick and affordable digital payments. In this context, one of the challenges has been to minimise instances of financial frauds, which not only lead to apprehension among new users in adoption of digital payments but also make it difficult for the banks to retain customers who experience such frauds. There is also a lag between occurrence and detection of frauds. 2. FinTechs have the potential to play a pivotal role in strengthening fraud governance, reduce the response time to frauds and the lag between occurrence and detection of financial frauds. This is expected to safeguard consumer interests and minimise the losses from such frauds. As announced in the Statement of Developmental and Regulatory Policies on October 8, 2021, it has been decided to select ‘Prevention and Mitigation of Financial Frauds’ as the theme for the Fourth Cohort under Regulatory Sandbox, the window for which shall be announced in due course. 3. Further, based on the experience gained from the First and Second Cohorts and the feedback from stakeholders, the ‘Enabling Framework for Regulatory Sandbox’ has been updated to include ‘On Tap’ application facility for themes of closed cohorts. Accordingly, the theme ‘Retail Payments’ is now open for application. This ‘On Tap’ facility is expected to help in continuous innovation and engagement with innovators and proactively respond to the dynamics of rapidly evolving FinTech scenario. (Yogesh Dayal) Press Release: 2021-2022/1006 |
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7 High Dividend Paying Zero Debt Companies
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Majesco
Majesco Ltd. was founded in 2013 and is based in the United Kingdom. The current share price is 87.4. It currently has a market capitalization of Rs 249.65 crore. The company reported gross sales of Rs. 95.1 crore and total income of Rs. 532.5 crore in the most recent quarter.
For the first time in five years, the company is debt-free. The stock returned -80.51 percent over three years, compared to 86.64 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned -80.51 percent, compared to Nifty IT, which returned 124.97 percent.
Dividend History
Since August 16, 2017, Majesco Ltd. has declared four dividends. Majesco Ltd. has issued an equity dividend of Rs 974.00 per share in the last 12 months. This equates to a dividend yield of 1122.12 percent at the current share price of Rs 86.80.
Dividend History of Elcid Investment
For the last five years, the company has had no debt. The company’s yearly revenue growth rate of 38.98% surpassed its three-year CAGR of 30.93%. The company Elcid Investments Ltd. was founded in 1981. Its stock is currently trading at a price of Rs 17. It now has a market capitalization of Rs 0.34 crore. The company reported gross sales of Rs. 557.98 crores and a total income of Rs. 557.98 crores in the most recent quarter.
At the current share price of Rs 17.00, this equates to an 88.24% dividend yield. Since September 1, 2003, Elcid Investments Ltd. has declared 20 dividends. Elcid Investments Ltd. has declared an equity dividend of Rs 15.00 per share in the last 12 months.
Clariant Chemicals Dividend History
Clariant Chemicals (India) Ltd. began operations in 1956. Its share price presently is 608.85. It currently has a market capitalization of Rs 1406.95 crore. The company reported gross sales of Rs. 7733.4 crores and a total income of Rs. 7881.25 crores in the most recent quarter.
Dividend History
The stock returned 55.72 percent over three years, compared to 86.64 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned 55.72 percent, compared to 99.43 percent for the S&P BSE Basic Materials index.
Goodyear India of Dividend History
The company has enough cash on hand to cover its contingent liabilities. For the last five years, the company has had no debt. Goodyear India Ltd., founded in 1961, is a Small Cap company in the Tyres industry with a market capitalization of Rs 2,426.71 crore.
The stock returned 16.18 percent over three years, compared to 86.64 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned 16.18 percent, compared to 18.54 percent for the Nifty Auto Index.
Dividend History
Since May 30, 2007, Goodyear India Ltd. has issued 18 dividends. Goodyear India Ltd. has declared an equity dividend of Rs 178.00 per share in the last 12 months. This translates to a dividend yield of 17.14 percent at the current share price of Rs 1038.50.
Balmer Lawrie Investments Dividend History
Since the last five years, the company has had no debt. The stock returned 16.21% over the last three years, compared to 86.64 percent for the Nifty Smallcap 100. Balmer Lawrie Investments Ltd., founded in 2001, is a Small Cap business in the Holding Company category with a market capitalization of Rs 963.25 crore.
Dividend History
Since September 19, 2003, Balmer Lawrie Investments Ltd. has declared 20 dividends. Balmer Lawrie Investments Ltd. has declared an equity dividend of Rs 38.00 per share in the last 12 months. At the present share price of Rs 429.95, this equates to an 8.84 percent dividend yield.
Power Finance Corporation Dividend History
Only 3.15 percent of trading sessions in the last 14 years had intraday gains of more than 5%. The stock returned 90.09 percent over three years, compared to 70.37 percent for the Nifty 100 index. Power Finance Corporation Ltd., founded in 1986, is a Large Cap firm in the Term Lending Institutions sector with a market cap of Rs 36,974.34 crore.
Since September 7, 2007, Power Finance Corporation Ltd. has declared 27 dividends. Power Finance Corporation Ltd. has declared an equity dividend of Rs 12.25 per share in the last 12 months. At the current share price of Rs 139.55, this translates to an 8.78 percent dividend yield.
Hindustan Zinc
Only 1.88 percent of trading sessions in the last 14 years had intraday drops of more than 5%. Annual sales growth of 19.29% surpassed the company’s three-year CAGR of 0.84 percent. Stock returned 15.81 percent over three years, compared to 70.37 percent for the Nifty 100 index. 100
Over a three-year period, the stock returned 15.81 percent, while the Nifty Metal returned 63.36 percent to investors.
Since June 28, 2001, Hindustan Zinc Ltd. has issued 35 dividends. Hindustan Zinc Ltd. has declared an equity dividend of Rs 21.30 per share in the last 12 months. This equates to a dividend yield of 6.74 percent at the current share price of Rs 316.15.
7 High Dividend Paying Zero Debt Companies
| Company | Dividend Yield |
| Majesco | 1122.12% |
| Elcid Investment | 88.24% |
| Clariant Chemicals | 10.63% |
| Goodyear India | 17.14% |
| Balmer Lawrie Investments | 8.84% |
| Hindustan Zinc | 6.74% |
| Power Finance Corporation | 8.78% |
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10 Midcap Stocks To Buy From Motilal Oswal’s India Strategy Report
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Nifty FY22E EPS estimates see minor tweaking
The India Strategy Report by Motilal Oswal Financial Services has tweaked the Nifty FY 2022 (E) EPS to Rs 730 from Rs 732 earlier and Rs 874 (prior: Rs 865) for FY22 and FY23, respectively.
FY22 earnings for Oil & Gas have seen upgrades on the back of higher crude and gas prices, offset by downgrades in Autos. Metals, BFSI, and Oil & Gas are likely to account for 34%, 25%, and 13% of the total incremental earnings, respectively, in FY22
Key model portfolio changes
Motilal Oswal Financial Services has maintained an overweight stance on BFSI, Information Technology, Metals, Cement, and Capital Goods. It has also raised Consumer from Neutral to Overweight given the improving underlying demand backdrop and retain Neutral positions in Auto and Healthcare.
“While Motilal Oswal Financial Services maintain underweight stance on Energy, they have reduced the extent of the under weight position. In BFSI, the company adds IndusInd Bank, which is showing strong traction in advances. In Consumer, added Jubilant FoodWorks. In Midcaps, Motilal Oswal Financial Services introduces APL Apollo Tubes.
10-midcap stocks to buy from the India strategy report
According to the report the top stocks to buy from the midcap space include names like Max Financials, Steel Authority of India, Deepak Nitrite, L&T Technology, APL Apollo Tubes, Chola Finance, JK Cements, Indian Hotels, Orient Electric and Aditya Birla Retail.
While we at good returns do recommend stocks to buy based on brokerage reports, we would advise some bit of caution given where stocks are. Midcap stocks would also be slightly risky to buy, given that they have been extremely volatile. Also, the Sensex at 60,000 is expensive and its trading at significant premiums to long-term averages, which is one more reason why investing in stocks in lumpsum could be slightly risky.
Corporate earnings to be supported by recovery
According to Motilal Oswal Corporate earnings for 2QFY22 are likely to be supported by recovery in domestic demand as indeed the higher global commodity and energy prices.
“There remains a clear divergence in intra-sector earnings growth. Global cyclical plays such as O&G and Metals continue to support earnings growth on the back of high commodity prices, and Technology continues to see robust demand-led growth. On the flip side, Autos remains challenged with supply-side issues (semi- conductor chip shortage) as well as slower demand recovery (2W). Moreover, Healthcare appears to be impacted by pricing headwinds in the US Generics business,” the brokerage has said.
Disclaimer
The above 10 stocks to buy are picked from the India Strategy report of Motilal Oswal Financial Services. Please note investing in stocks is subject to market risks and one needs to be cautious at this point of time as markets have gone-up sharply. Neither the author, nor Greynium Information technologies Pvt Ltd would be responsible for losses incurred based on a decision made from this article.
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RBI governor, BFSI News, ET BFSI
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Amid rising concerns over mispricing of credit risk by banks due to abundant liquidity, the Reserve Bank of India today said it was for the banks to do their own risk assessment and price their loans accordingly.
‘Banks should do own risk assessment and based on it should price their loans, action lines in the domain on banks,” said RBI governor Shaktikanta Das.
“I don’t think SBI has flagged this issue as a complaint, SBI has flagged it as a concern, which is for the banks to take note of, whatever be the liquidity situation,” he said.
Mispricing of loans
A few weeks ago, SBI, the country’s largest lender, has said that mispricing of risks is a cause of concern given the fact that there is ample liquidity in the system.
Since deposits are flowing into the system and credit offtake is yet to take place, bankers may be tempted to make investments in alternative avenues like T-Bills, SBI chairman Dinesh Kr Khara said.
“The depth of this alternative investment market is shallow. There is a chance of mispricing of risks. But I feel there will be no compromise on underwriting standards as the banking system has learned the hard way due to huge NPAs,” he said.
Striking a balance
The SBI chairman said there is a need to strike a balance and unless there is improvement in growth, it will be big challenge.
Regarding offtake of credit, the banker said some industrial sectors are showing improvement but it is not universal across sectors.
“I hope the Production Linked Incentive scheme will help a lot in offtake of liquidity, particularly in the MSME sector. Now some private sector investments are likely to take place besides PSUs. The road sector is looking promising,” he stated.
Khara said given the present macroeconomic conditions it is unlikely that the central bank will alter interest rates in the coming Monetary Policy Committee meeting.
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RBI extends three-year SLTRO facility to SFBs
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The Reserve Bank of India has extended the three-year special long-term repo operations facility for Small Finance Banks by two months till December-end 2021.
This facility, which is available at the repo rate of 4 per cent, aggregating ₹10,000 crore was announced by the central bank in May 2021 to help SFBs provide last mile credit to individuals and small businesses.
Liquidity drawn from this facility has to be deployed by SFBs for fresh lending of up to ₹10 lakh per borrower.
“Recognising the persisting uneven impact of the pandemic on small business units, micro and small industries, and other unorganised sector entities, it has been decided to extend this facility till December 31, 2021.
“Further, this will now be available on tap to ensure extended support to these entities,” RBI Governor Shaktikanta Das said.
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Multibagger Stocks: 5 Specialty Chemical Stocks That Delivered Upto 468% In 1-Year
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Reasons for optimism in the specialty chemicals space:
1. Brokerages are of the belief that India’s share in the global specialty chemicals space will likely double over the next 5-years.
2. Over the past one year, companies’ in the space have logged substantial improvement in earnings and profitability.
3. Companies in the space are seeing increased demand from clientele who were earlier procuring products from China. In fact India’s specialty chemicals industry has emerged as the biggest beneficiary of the shift in global supply chain from China
4. On a more recent basis, the power crisis in China is also auguring well for India’s chemical manufacturers.
Privi Specialty Chemicals:
Formerly called Fairchem Speciality Limited, the company is one of India’s leading bulk manufacturer, supplier and exporter of aroma chemicals. The company’s state of the art
manufacturing facilities are based out of Mahad in Maharashtra and at Jhagadia in Gujarat.
The company on a recent basis entered into a JV with Fortune 500, Swiss multinational- Givaudan SA to set up a Greenfield production unit that will be established at Mahad.
The stock is mainly trending higher on account of growing demand from the fragrance industry.
The stock is categorized within the small cap scrips and has a market cap of Rs. 7304 crore. Over the last 1-year the stock has gained by 233 percent. The next earnings for the scrip will be announced on November 10, 2021.
Deepak Nitrite:
The Gujarat-based company manufactures chemical intermediates to cater to the domestic and international markets. As per the company’s website, it draws 35 percent of its revenue through exports and has as many as 50 Fortune 500 companies’ as its partners.
On a more recent basis, specialty chemical companies’ including Deepak Nitrite has been witnessing a surge in stock price as there is expected that the chemical industry stocks will outperform in the short to middle term and reflect in the companies’ earnings in the coming quarter. Also, as the company is not dependent on China for the raw materials augurs well for the company in the current situation.
The stock is a mid-cap scrip with a market capitalization of Rs. 39,249 crore.
Balaji Amines:
The company is an ISO 9001: 2015 certified company that specialises in manufacturing Methylamines, Ethylamines, Derivatives of Specialty Chemicals and Pharma Excipients. The company also is into manufacturing of derivatives, which are downstream products for various Pharma /Pesticide industries apart from user specific requirements.
Established in 1988, the company is the leading manufacturer of Aliphatic Amines, catering to the demand of value based Specialty Chemicals.
This is again a small cap scrip with market cap of Rs. 14,645 crore.
Alkyl Amines Chemicals:
Set up in the year 1979, this company manufactures amines, amine derivatives, speciality chemicals that cater to the pharmaceutical, agrochemical, rubber chemicals, paints and dye and water treatment industries, among others.
In late September this year, the scrip saw one on the promoter trimming stake in the entity through open market sale. In the quarter ended June of Fy 22, the company’s net profit jumped 49 percent to Rs. 78.5 crore.
The company is also an almost debt free entity with debt to equity at 0.03 in 2021.
Gujarat Fluorochemicals:
Gujarat Fluorochemicals Limited (GFL) is an Indian Chemicals Company with over 3 decades of expertise in Fluorine Chemistry. GFL holds expertise in Fluoropolymers, Fluorospecialities, Refrigerants and Chemicals. The various industries’ to which the company caters include automotive, aerospace, semiconductors, electronics, common household appliances, telecommunications, healthcare and architecture.
The company on a recent basis has filed for Lithium Hexafluoro Phosphate (LiPH6) as one of its products. With the rising impetus on EVs, there is expected a surge in demand for LiPH6.
5 Multibagger Specialty Chemicals Stocks in the last 1-year
| Specialty chemical stock | LTP | % gain in the last one year |
|---|---|---|
| Privi Speciality Chemicals | Rs. 1867.9 | 233% |
| Deepak Nitrite | Rs. 2878 | 260% |
| Balaji Amines | Rs. 4519 | 468% |
| Alkyl Amines Chemicals | Rs. 4074 | 220% |
| Gujarat Fluorochemicals | Rs. 2007.4 | 314% |
Disclaimer:
The list of these chemicals stocks is collated to provide a general outlook on the industry and is not a recommendation to buy in these listed stocks.
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