Month: November 2021

RBI, BFSI News, ET BFSI

Banking & Finance

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The Reserve Bank has cautioned the public against co-operative societies using words “bank”, “banker” or “banking” as part of their names unless specifically permitted. It also clarified that deposits with there societies are not eligible for insurance cover.

Some Co-operative Societies are using the word “Bank” in their names in violation of Section 7 of the Banking Regulation Act, 1949 which is applicable to co-operative societies under the Act, according to the Reserve Bank.

“Accordingly, co-operative societies cannot use the words “bank”, “banker” or “banking” as part of their names, except as permitted under the provisions of BR Act, 1949 or by the Reserve Bank of India” the regulator clarified in a release.

“Members of the public are hereby informed that such societies have neither been issued any licence under BR Act, 1949 nor are they authorized by the RBI for doing banking business” RBI said. “The insurance cover from Deposit Insurance and Credit Guarantee Corporation (DICGC) is also not available for deposits placed with these societies. Members of public are advised to exercise caution and carry out due diligence of such Co-operative societies if they claim to be a bank, and look for banking license issued by RBI before dealing with them”

The RBI has also noticed that some Co-operative societies are accepting deposits from non-members which indicates conducting banking business in violation of the provisions of the BR Act, 1949.



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UNDP warns Afghanistan banking system on brink of collapse, BFSI News, ET BFSI

Banking & Finance

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A new UN report on Monday said Afghanistan‘s banking and financial systems are on the verge of collapse following the country’s takeover by the Taliban.

“Afghanistan’s financial and bank payment systems are in disarray,” the report by UN Development Program (UNDP) said. “The bank-run problem must be resolved quickly to improve Afghanistan’s limited production capacity and prevent the banking system from collapsing.”

Soon after the Taliban assumed power in Kabul, the United States froze Afghanistan’s international reserves. This has led to a dramatic shock in the country’s financial and payment systems.

Currently, the country’s central bank could not meet deposit demands, prompting the Taliban to impose withdrawal caps of a maximum of USD 200 per week. The amount was recently increased to USD 400, Sputnik reported.

The report said that Afghanistan’s total banking system deposits fell to USD 2 billion in September from USD 2.8 billion at the end of 2020.

With the current pace and withdrawal restrictions, deposits are projected to fall to USD 1.7 billion by the end of 2021, likely leading to the collapse of Afghanistan’s banking sector, the report said.

“Without the banking sector, there’s no humanitarian solution for Afghanistan,” UNDP Resident Representative Abdallah Al Dardari said. “Do we really want to see Afghans completely isolated?”

In addition, the country’s credit market is also in decline. Total credits fell to USD 307 million in September from USD 33 billion at the end of last year.

To prevent the collapse of the country’s banking system, UNDP urged for prompt and decisive action, which includes deposit insurance for depositors, adequate liquidity for the banking system and credit guarantees and loan repayment delay options. (ANI)



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Buy This Leading Travel Company Stock For 47.5% Upside For Long Term: Edelweiss

Personal Finance

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About Easy Trip Planners:

The company is the second leading online travel agency or OTA in the country. Incorporated in the year 2008, the company started off with focus on the business to business to customer (B2B2C) distribution channel and even to promote offline travel market provided travel agents with access to the company’s website for booking domestic flight tickets. Also, the company began catering to the B2C and B2E segment, thereby having at command a diversified customer base as well as broad-based distribution network.

No convenience fee strategy-

No convenience fee strategy-

This has proved to be a big tailwind for the company- which led it to become the dominant player in the domestic air ticketing segment. The USP of Easy Trip with no convenience fee has stood as a game changer for the company and it is the only profitable company among major OTAs in the country. “While EASEMYTR has the largest agent network in the Indian OTA industry, it also ranks second in terms of air ticket volume and third in terms of gross booking revenue (GBR) and number of registered customers”, says the report.

Key takeaways

Key takeaways

– Over Fy18-20, the online travel agency logged highest growth in air ticketing booking volume as well as air ticket gross booking revenue among leading OTAs in the country.

– In the B2C distribution network, the company has logged repeat transaction rate of 85.95%.

– The company during the review period delivered strong net

revenue/EBITDA/PAT CAGR of 19%/87%/91%.

– The company focuses on both inorganic route as well as acquisitions ((Traviate & Spree Hospitality) for foraying into newer segments.

Outlook and Valuation:

Outlook and Valuation:

With no external funding since launch, Easy Trip built its business the traditional way – pay-as-you-go, by generating revenue and managing costs diligently.”With the recent post-IPO run up in the stock price, the stock trades at 41x/1.1x FY23E earnings and EV/GBR FY23E. For fast-growing companies whose earnings trajectory has not stabilised, we consider DCF-based valuation. Thus, we have valued EASEMYTR on DCF calculations and initiate coverage on it with a ‘BUY’ rating and target price of INR 733″, adds the brokerage.

Disclaimer:

Disclaimer:

The stocks has been picked from the brokerage report of Edelweiss. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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This Mid Cap Stock Has A “BUY” Call From Motilal Oswal With A Gain of +43%

Personal Finance

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Motilal Oswal’s take on Laurus Labs

According to the brokerage “Laurus Labs has signed an investment agreement with Immunoadoptive Cell Therapy Private Limited (ImmunoACT), an advanced cell and gene therapy company, for a 26.6% stake in the company (on a fully diluted basis) for a cash consideration of approximately INR460m, implying an enterprise value of INR1.7b.”

“The senior management would also invest INR98m in ImmunoACT for a 5.64% stake at the same price and terms. This investment would provide LAURUS access to CAR-T therapy, a promising treatment option with great success in the western world. CAR-T therapy is not available in India. This collaboration would help Laurus provide this novel technology to Indians at very affordable pricing. The current promoters of ImmunoACT would continue to lead the management and operations after the completion of the acquisition of the minority stake by Laurus” the brokerage clarified.

Motilal Oswal has also claimed that “CAR-T cell is a new therapy for Leukemia/Lymphoma, with USD1.5b in worldwide sales of five commercialized products. Given that ImmunoACT products are under development, the commercialization would be subject to a successful clinical outcome. However, this represents LAURUS’ entry for a potential CDMO opportunity into a new therapy space over the next 4-5 years.”

Buy Laurus Labs with a target price of Rs. 690

Buy Laurus Labs with a target price of Rs. 690

Motilal Oswal has said in its research report that “We expect a 21% earnings CAGR over FY21-23E, led by a 42%/30%/3% sales CAGR in the Synthesis/FDF/API segment and ~80bp margin expansion. We value LAURUS at 24x 12M forward earnings to arrive at our TP of INR690.”

According to the brokerage’s call “We remain positive on LAURUS on the back of a robust outlook for the Synthesis CDMO segment, with a strong client base, potential in the Biologics CDMO segment with capacity additions, product development/capacity additions in the Non-ARV segment, the healthy order book of the Non-ARV API business, and the potential opportunity from Molnupiravir sales in LMIC countries. We maintain our Buy rating.”

Disclaimer

Disclaimer

The stock has been picked from the brokerage report of Motilal Oswal Financial Services Limited. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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2 Large Private Banks That Offer The Best Interest Rates On Fixed Deposits

Personal Finance

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Investment

oi-Shubham Kumar

|

The most trusted saving destination is a bank account, particularly the Fixed Deposit (FD). The bank that offers the highest interest rate on the deposits whether it’s saving or FDs is the more searched destination. Out of these two, FDs are considered the safest saving option as it comes with a low market risk that also offers a high return on the deposit.

Interest rates vary based on the bank and customers such as senior citizens and the general public. FDs are great when it comes to tax savings.

2 Large Private Banks That Offer The Best Interest Rates On Fixed Deposits

Yes Bank and IndusInd Bank offer the best rates

Yes Bank and IndusInd Bank are two banks that offer the best interest rates to their customers on their Fixed Deposits. Both the banks are private sector banks and have a wide reach in the country. When compared to larger peers from the private sector or government sector, the interest rates being offered by these banks is a good 0.75 to 1% higher.

We have not considered the small finance banks or cooperative banks, while making a comparison.

Yes Bank offers 3.25% to 6.50% and 3.75% to 7.25% to general and senior citizens respectively. Followed by Yes Bank, IndusInd Bank offers 2.50% to 5.50% and 3.00% to 6.00% on FDs to general and senior citizens respectively. The tenure of FD in Yes bank varies from 5 to 10 years. Whereas, compared to the other banks, the rate of interest by these two banks is attractive, which makes them a good choice for savings.

It is always important to compare the rate of interest before making any kind of saving decision in banks. Saving in FDs is now considered a traditional way of investment but it is still a hot and safest destination for many.

Invest for shorter term tenures in bank fixed deposits

As there is a possibility that interest rates could go higher, we recommend that investors should take the short-term tenure for bank deposits. Globally, there are risks to inflation and many central banks around the world are looking at the possibility of hiking interest rates. Therefore, investors should look at short term tenure for fixed deposits. There is the possibility that even the Reserve Bank of India could hike interest rates considering that inflation in India has begun to trend higher.



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Buy Bharti Airtel With A Target Price of Rs. 920 Says Motilal Oswal

Personal Finance

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Growth in consolidated EBITDA on 2QFY22

Motilal Oswal in its research report has said that “On 22nd Nov’21, Bharti announced a 20% price hike, effective 26th Nov’21, across its prepaid plans, which contributes 85% to India Mobile revenue (15% is postpaid). The tariff hike comes nearly eight quarters from its last hike (Dec’19), even as industry participants have been calling for the same since the last 12 months. With a 20% increase in prices and expected ARPU at INR181, we expect incremental revenue/EBITDA contribution to its India Mobile business to be INR103b/INR72b, i.e. 16%/22% growth, which works out to a 13% growth in consolidated EBITDA on 2QFY22 annualized basis. On an FY24E basis, we revise higher our consolidated EBITDA estimate by 10% to INR821b.”

The brokerage has further claimed that “Bharti’s consolidated EBITDA (2QFY22 annualized) after capturing the 20% tariff increase would be INR624b. Adjusting for CAPEX, interest, tax, and Ind AS 116, it would be ~INR200b, thus implying a 5% FCF yield. It has the potential to grow EBITDA by more than 20% over the next two years on the back of mix-led ARPU improvement and subscriber additions. It does not factor in an additional 13% EBITDA opportunity due to potential market consolidation over time, leaving additional growth levers.”

Buy Bharti Airtel with a target price of Rs. 920

Buy Bharti Airtel with a target price of Rs. 920

Motilal Oswal in its research report has reported that “Without capturing market share gains, the stock is trading at 7x consolidated EBITDA on a one-year forward basis, while the implied India business is trading at 8.5x. This doesn’t capture an additional 13% EBITDA opportunity from market consolidation and the re-rating potential due to an improving FCF/RoCE profile. We expect 24% CAGR in consolidated EBITDA over FY21-24E on the back of 31% CAGR in Mobile India EBITDA, aided by ARPU growth as a result of the tariff hike.”

According to the brokerage’s call “We see potential for a re-rating in both the India and Africa business on the back of steady earnings growth. We value Bharti on a Sep’23E basis, assigning an EV/EBITDA of 10x/4x to the India Mobile/Africa business, arriving at a SoTPbased TP of INR920. We maintain our Buy rating.”

Disclaimer

Disclaimer

The stock has been picked from the brokerage report of Motilal Oswal. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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IndusInd Bank: Shalabh Saxena, Ashish Damani yet to resign from BFIL to join Spandana Sphoorty

Banking & Finance

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IndusInd Bank on Tuesday said Shalabh Saxena, the Managing Director and CEO of Bharat Financial Inclusion Ltd, and Ashish Damani, Executive Director & Chief Financial Officer of BFIL, are yet to resign and as per their terms of contract, they are prohibited from accepting employment at a competitor of the microfinance company.

Further, they cannot be relieved from the services of the company until an ongoing review into the disbursal of nearly 84,000 loans without customer consent due to a technical glitch at BFIL is completed.

Under fire, IndusInd Bank begins review of microfinance subsidiary

“…the continued employment of Shalabh Saxena and Ashish Damani at BFIL is critical to the closure of such process. Accordingly, they cannot be relieved from the services of BFIL, until completion of the said review,” IndusInd Bank said in a stock exchange filing.

BFIL is a wholly-owned subsidiary of IndusInd Bank.

Clarification

“Neither Shalabh Saxena nor Ashish Damani have tendered their resignation from the services of BFIL. As per the terms of their employment, once the resignation is tendered, it is subject to acceptance by the Board of Directors of BFIL (Board). Upon acceptance by the board, a specified notice period is also required to be served. However, as neither of them have tendered their resignations to BFIL, such due process has not been initiated,” it further said.

IndusInd Bank’s ‘technical glitch’: RBI examining portfolio as part of an ongoing audit

Its clarification comes a day after Spandana Sphoorty (SSFL) announced the appointment of Saxena as its new Managing Director and CEO and Damani as the President and Chief Financial Officer.

“Both Saxena and Damani will join Spandana soon,” it had said.

IndusInd Bank further said that as per their contractual terms of employment Saxena and Damani are also prohibited from accepting employment at a competitor of BFIL (such as SSFL), unless approved in writing by the Board of BFIL.

“As stated above, as resignation from BFIL has not been tendered to the board by Shalabh Saxena and/or Ashish Damani, any purported acceptance by them of employment at SSFL will be in contravention of the terms of their employment with BFIL,” it said.

BFIL and IndusInd Bank are in the process of evaluating and undertaking appropriate steps and actions, including strengthening the management of BFIL to continue its usual business operations under the able guidance of its management and the bank, the lender said.

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Reserve Bank of India – Press Releases

Press Releases

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(Amount in ₹ crore, Rate in Per cent)
  Volume
(One Leg)		 Weighted
Average Rate 		Range
A. Overnight Segment (I+II+III+IV) 5,19,580.24 3.79 0.02-5.75
     I. Call Money 13,122.49 3.55 2.00-4.00
     II. Triparty Repo 3,79,810.45 3.82 3.30-4.00
     III. Market Repo 1,23,837.30 3.71 0.02-4.10
     IV. Repo in Corporate Bond 2,810.00 4.17 4.10-5.75
B. Term Segment      
     I. Notice Money** 1,242.05 3.33 2.75-3.50
     II. Term Money@@ 129.50 – 3.10-4.25
     III. Triparty Repo 0.00 – –
     IV. Market Repo 0.00 – –
     V. Repo in Corporate Bond 374.60 5.47 5.10-5.50
  Auction Date Tenor (Days) Maturity Date Amount Current Rate /
Cut off Rate
C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF)
I. Today’s Operations
1. Fixed Rate          
     (i) Repo          
    (ii) Reverse Repo Mon, 22/11/2021 1 Tue, 23/11/2021 1,13,246.00 3.35
    (iii) Special Reverse Repo~          
    (iv) Special Reverse Repoψ          
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo          
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo          
3. MSF Mon, 22/11/2021 1 Tue, 23/11/2021 40.00 4.25
4. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
5. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]*		       -1,13,106.00  
II. Outstanding Operations
1. Fixed Rate          
    (i) Repo          
    (ii) Reverse Repo          
    (iii) Special Reverse Repo~          
    (iv) Special Reverse Repoψ          
2. Variable Rate&          
  (I) Main Operation          
     (a) Reverse Repo Thu, 18/11/2021 15 Fri, 03/12/2021 4,45,742.00 3.99
  (II) Fine Tuning Operations          
     (a) Repo          
     (b) Reverse Repo Tue, 16/11/2021 7 Tue, 23/11/2021 2,00,010.00 3.94
  Tue, 02/11/2021 28 Tue, 30/11/2021 50,007.00 3.97
3. MSF          
4. Long-Term Repo Operations# Mon, 17/02/2020 1095 Thu, 16/02/2023 499.00 5.15
  Mon, 02/03/2020 1094 Wed, 01/03/2023 253.00 5.15
  Mon, 09/03/2020 1093 Tue, 07/03/2023 484.00 5.15
  Wed, 18/03/2020 1094 Fri, 17/03/2023 294.00 5.15
5. Targeted Long Term Repo Operations^ Fri, 27/03/2020 1092 Fri, 24/03/2023 12,236.00 4.40
  Fri, 03/04/2020 1095 Mon, 03/04/2023 16,925.00 4.40
  Thu, 09/04/2020 1093 Fri, 07/04/2023 18,042.00 4.40
  Fri, 17/04/2020 1091 Thu, 13/04/2023 20,399.00 4.40
6. Targeted Long Term Repo Operations 2.0^ Thu, 23/04/2020 1093 Fri, 21/04/2023 7,950.00 4.40
7. On Tap Targeted Long Term Repo Operations€ Mon, 22/03/2021 1095 Thu, 21/03/2024 5,000.00 4.00
  Mon, 14/06/2021 1096 Fri, 14/06/2024 320.00 4.00
  Mon, 30/08/2021 1095 Thu, 29/08/2024 50.00 4.00
  Mon, 13/09/2021 1095 Thu, 12/09/2024 200.00 4.00
  Mon, 27/09/2021 1095 Thu, 26/09/2024 600.00 4.00
  Mon, 04/10/2021 1095 Thu, 03/10/2024 350.00 4.00
  Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
8. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 17/05/2021 1095 Thu, 16/05/2024 400.00 4.00
Tue, 15/06/2021 1095 Fri, 14/06/2024 490.00 4.00
Thu, 15/07/2021 1093 Fri, 12/07/2024 750.00 4.00
Tue, 17/08/2021 1095 Fri, 16/08/2024 250.00 4.00
Wed, 15/09/2021 1094 Fri, 13/09/2024 150.00 4.00
Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
D. Standing Liquidity Facility (SLF) Availed from RBI$       20,001.80  
E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -5,89,760.2  
F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -7,02,866.2  
G. Cash Reserves Position of Scheduled Commercial Banks
     (i) Cash balances with RBI as on 22/11/2021 6,37,449.41  
     (ii) Average daily cash reserve requirement for the fortnight ending 03/12/2021 6,50,308.00  
H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 22/11/2021 0.00  
I. Net durable liquidity [surplus (+)/deficit (-)] as on 05/11/2021 11,23,716.00  
@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
– Not Applicable / No Transaction.
** Relates to uncollateralized transactions of 2 to 14 days tenor.
@@ Relates to uncollateralized transactions of 15 days to one year tenor.
$ Includes refinance facilities extended by RBI.
& As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo.
# As per the Press Release No. 2020-2021/287 dated September 04, 2020.
^ As per the Press Release No. 2020-2021/605 dated November 06, 2020.
€ As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
£ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
~ As per the Press Release No. 2021-2022/177 dated May 07, 2021.
ψ As per the Press Release No. 2021-2022/323 dated June 04, 2021.
Ajit Prasad            
Director (Communications)
Press Release: 2021-2022/1234

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“BUY” This Small Cap Logistic Stock For A Gain of +25%: Motilal Oswal

Personal Finance

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Motilal Oswal’s take on VRL Logistics Ltd

The brokerage has said in its research report that “We released our Logistics thematic report recently, wherein we highlighted that the Logistics sector is set to move towards formalization and there would be strong growth opportunities for some of the established players in this space. With a robust growth outlook, we expect a strong upside in the stock from current levels. The strong tailwinds for VRL would drive consistent growth in volumes and earnings over the next few years. The company would benefit from the uptick in economic activity, the general price hikes taken post 1QFY22, and easing fuel prices (on account of tax cuts). VRL is focusing on the high-margin LTL business (driven by the B2B segment) and expanding its network into newer markets.”

Motilal Oswal has claimed that “The company has seen capacity utilization moving towards pre-COVID levels in the last few months. 2Q saw ~35% YoY growth in volumes, driven by the buildup in festive season inventory and easing of transport restrictions. The volume momentum is expected to continue with the pickup in economic activity and normalization of transportation activity. Over the medium-to-long term, we expect growth to be driven by an uptick in the overall Logistics sector (driven by economic growth) and increasing formalization, leading to market share gains in organized players such as VRL.”

Buy VRL Logistics Ltd With A Target Price of Rs. 540

Buy VRL Logistics Ltd With A Target Price of Rs. 540

The brokerage has said that “With a demand pickup and branch additions in untapped regions, we expect VRL to clock 19% revenue CAGR over FY21-24E. With robust volumes and cost efficiency measures, VRL would be able to maintain its EBITDA margin profile at 14-15% over the next two years.”

Motilal Oswal stated in its research report that “We expect the company to clock a revenue/EBITDA/PAT CAGR of ~19%/19%/45% over FY21-24E. The stock trades at 30x FY24 EPS. We maintain our Buy rating, with revised TP of INR540/share (35x FY24E EPS).”

Disclaimer

Disclaimer

The stock has been picked from the brokerage report of Motilal Oswal. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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3 Best ELSS Plans To Invest Which Are Rated No 1 By Crisil

Personal Finance

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Union Long Term Equity Fund

This is an ELSS fund, which like all other ELSS funds has a lock-in period of 3-years. This fund has done well over the years and has reported a returns of nearly 46% over the last 1-year and an annualized returns of 23.20% over the last 3-years and 17.20% over the last 5-years. The SIP returns have been a solid 41% over the last 1-year.

Having said that of course it had largely to do with the way the markets have rallied. However, going forward we do not expect stupendous returns. The fund has holdings including names like HDFC Bank, ICICI Bank, Infosys, HDFC and Ultratech Cement.

The equity holdings in the fund is almost 96%. We suggest that investors should not invest lumpsum and stick to the SIP route for investments.

BOI AXA Tax Advantage Fund

BOI AXA Tax Advantage Fund

The BOI Axa Advantage Tax Fund is another ELSS scheme that has been rated No 1 by CRISIL. The 1-year returns from the fund has been 59.75%, while the 3-year returns has been 29.79% and the 5-year returns has been 20.95%. The fund has been a good and consistent performer over the years.

The portfolio of the fund consists of names like ICICI Bank, HDFC Bank, Bajaj Finance, Infosys and Divis Labs.

Over the last few months we have been telling investors to invest only through SIPs as the markets have gone-up sharply and are at dangerously high levels. We continue to maintain the same stance. Investors need to be very careful with the Sensex at around the 59,000 points level. Invest only in small amounts.

Quant Tax Plan

Quant Tax Plan

This is a highly rated ELSS plan that has also been rated 5-star by Morningstar, apart from the No 1 ratings by CRISIL. This is an open ended fund whose net asset value under the growth plan is currently Rs 219.49. A new investor can invest a sum of Rs 500 and in multiples of Rs 1 thereafter.

For Systematic Investment Plan (SIP), the minimum amount is Rs 500 and in multiples of Rs 1 thereafter. As there is a lock-in of three years for all ELSS plans, because of sec80c benefits, there is no exit load.

The investment objective of the Scheme is to generate Capital Appreciation by investing predominantly in a well diversified portfolio of Equity Shares with growth potential. This income may be complemented by possible dividend and other income. All of the ELSS schemes are essentially long-term given that there is a lock-in period of 3-years.

Disclaimer

Disclaimer

All readers and investors should note that neither Greynium nor the author of the articles, would be responsible for any decision taken based on these articles. Please consult a professional advisor.

Greynium Information Technologies Pvt Ltd, its subsidiaries, associates, and authors do not accept culpability for losses and/or damages arising based on information in GoodReturns.in



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