Author: root

Karnataka Bank Modifies Interest Rates On FD: Check Latest Rates Here

Personal Finance

[ad_1]

Read More/Less


Karnataka Bank FD Rates

For a deposit amount of less than Rs 2 Cr, the bank is now offering an interest rate of 3.40% to 5.50% on deposits maturing in 7 days to less than 10 years. With effect from 1st November 2021, Karnataka Bank is offering the following interest rates on fixed deposits to the general public.

Tenure Interest Rate (% p.a)
7 days to 45 days 3.4
46 days to 90 days 4.9
91 days to 364 days 5
1 year to 2 Years 5.1
Above 2 Years to 5 years 5.4
Above 5 years to 10 years 5.5
Source: Bank Website. W.e.f. 01st November 2021

Karnataka Bank FD Rates For Senior Citizens

Karnataka Bank FD Rates For Senior Citizens

Senior citizens will continue to get an additional rate of 0.40% on their deposits maturing in 1 to 5 years and 0.50% extra over the general rate for the tenure of 5 to 10 years. With effect from 1st November 2021, Karnataka Bank is offering the following interest rates on fixed deposits to senior citizens.

Tenure Interest Rate (% p.a)
1 year to 2 Years 5.5
Above 2 Years to 5 years 5.8
Above 5 Years to 10 years 6
Source: Bank Website. W.e.f. 01st November 2021

Karnataka Bank NRE Rupee Term Deposits Interest Rates

Karnataka Bank NRE Rupee Term Deposits Interest Rates

On NRE Rupee Term Deposits of less than Rs 2 Cr, the bank has also revised its interest rates on 01.11.2021 which are as follows.

Tenure Interest Rate (% p.a)
1 to 2 Years 5.1
Above 2 Year to 5 Years 5.4
Above 5 Year to 10 Years 5.5
Source: Bank Website. W.e.f. 01st November 2021



[ad_2]

CLICK HERE TO APPLY

Leave a comment

10 Pharma Stocks With Zero Debt And RoE Over 20 Per cent

Personal Finance

[ad_1]

Read More/Less


What is RoE and how is it important?

Return of equity calculates the net profit realized as a percentage of shareholder’s equity. The financial ratio is arrived at by dividing net profit by net worth which can be equity plus reserves and retained earnings.

Low or high RoE which is good for investors

High RoE signifies that the company is able to deploy the shareholders’ capital and can provide substantial returns and as per analysts stocks offering an RoE of over 20 percent can be considered as good investments. So now as we know as stock picking can be done employing this technique, here are the pharma names with RoE over 20 percent and zero debt.

1. IOL Chemicals:

1. IOL Chemicals:

This company is innovation focused bulk drug, intermediates as well as specialty chemicals company. The company has over 3 decades experience and is an API based pharma company. The company’s API portfolio comprisestherapeutic categories, such as Pain Management, Anti-diabetic, Anti-hypertensive, and Anti-convulsant, amongst others.

The company’s market cap is at Rs. 3257 crore and last quotes at a price of Rs. 555 per share.

The company’s RoE is at a staggering 43 percent and a net zero debt.

2. Abbott:

2. Abbott:

The company’s RoE stands at 27.89 percent while its debt to equity has been zero. Abbott India is a healthcare entity discovering, developing, manufacturing and marketing several products in areas including Anesthesia, Animal Health, Anti-Infectives, Cardiovascular, Diabetes Care, Hematology, Immunodiagnostics and Clinical Chemistry, Immunology, Metabolics, Molecular, Neuroscience, Nutrition, Oncology, Pain Care, Point of Care, Renal Care, Vascular, Virology.

Abbott for the period ending June of FY22 posted Rs. 195.76 crore net profit as against Rs. 152 crore in the March quarter.

3. Eris Lifescience:

3. Eris Lifescience:

The company has been consistent in maintaining itself a zero debt company since the year 2019, while its RoE is at 24.78 percent.

This is the only publicly listed Indian pharmaceutical company with a pure-play domestic branded formulations business model. The company since inception in 2007 has primarily focused on chronic and sub chronic lifestyle related therapies. The company’s revenues exceeded Rs. 1,200 crore for the year ended March 2021.

The stock’s latest market capitalization is at Rs. 10,786 crore.

4. Divis Lab:

4. Divis Lab:

The stock’s RoE is 23.90 percent with debt to equity continuing to be zero for the last two years. The company is a large cap scrip with 1,31,307 crore.

The Hyderabad based company is into manufacturing of Generic APIs, Nutraceutical Ingredients and offers Custom Synthesis of APIs to Big Pharma. The company leads in APIs, Intermediates and Registered starting materials offering high quality products with the highest level of compliance and integrity to over 95 countries.

The company has recently been recognized as the third top manufacturer of APIs globally.

Other than the above, Astrazeneca, Gland Pharma, Glaxo Pharma, Ajanta Pharma, Sanofi, Procter and Gamble Health are all debt free pharma firms with zero debt.

Disclaimer:

Disclaimer:

These are two metrics based on a company’s fundamentals can be decided upon and can offer an opportune avenue of investment, nonetheless, readers should not consider it to be an investment advice into the above listed pharma scrips.

GoodReturns.in



[ad_2]

CLICK HERE TO APPLY

Leave a comment

IIFL Asset Management launches IIFL Quant Fund, BFSI News, ET BFSI

Personal Finance

[ad_1]

Read More/Less


IIFL Asset Management has announced the launch of IIFL Quant Fund. This fund is an actively-reviewed, quantitative rule-based fund. The New Fund Offer (NFO) opened on 8 November and closes on 22 November. The fund will be managed by Parijat Garg and it will be benchmarked against S&P BSE 200 TRI.

According to the press release, the fund aims to invest in stocks that show growth or defensive characteristics. The IIFL Quant Fund will have periodic rebalancing and review. The investment objective of the fund is to generate long term capital appreciation for investors from a portfolio of equity and equity-related securities based on Quant theme. Quality stocks will be screened, based on quantitative portfolio construction methods and techniques.

The fund house also says that as this fund is based on quantitative rules, it is mainly driven by investment process over discretion, thereby avoiding market cap and behavioural biases. Further, the methodology and portfolio construction of the fund are back-tested across time periods and validated.

“The Passive+ approach that the fund follows is based on multiple quantitative factors that have been back-tested and historically proven to improve stock selection capabilities. The model has a fundamental basis with parameters clearly laid out and relies on a defined process while applying the same across a set of comparable stocks,” says Manoj Shenoy, CEO, IIFL AMC.

“Based on a quantitative model, the strategies of the IIFL Quant Fund are fully systematic and rule-based and would have additional filters for selecting quality momentum stocks. The fund universe will include the Top 200 stocks by market cap and liquidity,” says Parijat Garg, Fund Manager, IIFL AMC.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , ,

SoftBank shares jump 11% on $9 billion buyback, BFSI News, ET BFSI

Banking & Finance

[ad_1]

Read More/Less


TOKYO – SoftBank Group Corp shares jumped 10.5% on Tuesday, the first trading session after the Japanese conglomerate said it would spend up to 1 trillion yen ($8.8 billion) buying back almost 15% of its shares.

The company announced the buyback, long speculated about by the market, after it revealed its quarterly earnings crashed to a loss amid a decline in the share prices of its portfolio companies and a regulatory crackdown in China.

SoftBank‘s shares closed at 6,808 yen in its biggest daily rise in 11 months, lifting the group’s market capitalization above $100 billion. Tuesday’s trading volume was more than twice the 30-day average.

The buyback is SoftBank’s second largest after a record 2.5 trillion yen buyback launched during the depths of the COVID-19 pandemic last year. Shares of the tech group quadrupled during that buyback, but have since fallen 40% from a peak in May.

“Our analysis of buyback history indicates that SBG stock performs (and outperforms indices or BABA) during buybacks,” wrote Jefferies analyst Atul Goyal in a note, referring to Alibaba, the group’s largest asset. SoftBank owns about a quarter of Alibaba’s shares.

The slide in the Chinese e-commerce giant’s shares and the broader regulatory backlash in China contributed to a $57 billion fall in SoftBank’s net assets to $187 billion, a metric that Chief Executive Masayoshi Son has said is the primary measure of SoftBank’s success.

(For graphic on Buyback dependence Buyback dependence: https://graphics.reuters.com/SOFTBANKGROUP-SHARES/byprjkkkdpe/chart.png)

The repurchase period for the latest buyback runs to Nov. 8 next year, with the group signalling the programme could take longer than the fast-paced purchases last year.

The buyback “is nice support, but it isn’t rocket fuel,” wrote LightStream Research analyst Mio Kato on the Smartkarma platform, adding “there are material downside risks if broader tech, especially unprofitable tech, falters.”

Speculation that SoftBank could launch a buyback has been raging for months as the discount – the gap between the value of its assets and its share price – has lingered to the frustration of executives and as investors push for repurchases.

Ongoing uncertainties include the prospect of gaining regulatory approval for the $40 billion sale of chip designer Arm to Nvidia.

Delays to the sale “may have given Softbank the flexibility to announce a buyback now with expectations of ramping up share purchases later,” Redex Research analyst Kirk Boodry wrote in a note.

SoftBank is ramping up investing via Vision Fund 2, which has $40 billion in committed capital from the group and Son himself, even as it winds down activity at trading arm SB Northstar.

“Even if the company manages its finances with a certain amount of discipline, share buybacks would likely erode the financial buffer if executed,” S&P Global Ratings analysts wrote in a note.

The conglomerate held more than 5 trillion yen in cash and cash equivalents at the end of September, an increase of 9% compared to six months earlier.

($1 = 113.3500 yen)



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,

This Private Sector Bank Revises Interest Rates On FD & Savings Account

Personal Finance

[ad_1]

Read More/Less


CSB Bank FD Rates

CSB Bank offers multiple fixed deposit schemes to its customers and under the regular fixed deposit scheme the bank allows a minimum deposit amount of Rs 1000 up to Rs 2 Cr for a maturity period of 7 days to 10 years. The bank is currently offering the highest interest rate of 5.50 percent on domestic term deposits maturing in over 5 years up to and including 10 years. Check out the bank’s current fixed deposit interest rates for regular customers for a deposit amount of less than Rs 2 Cr.

Deposit Tenor Interest rates
7 days to 90 days 3.00%
91 days to 179 days 3.50%
180 days to less than 1 year 4.25%
1 year to less than 3 Years 5.00%
3 years to less than 5 years 5.25%
Over 5 years upto and including 10 Years 5.50%
Source: Bank Website. With effect from 02-11-2021

CSB Bank Interest Rates On Acharya Deposits

CSB Bank Interest Rates On Acharya Deposits

CSB Bank provides the Acharya Deposit Scheme to elderly persons, which allows them to make a minimum deposit of Rs 5,000/- for a minimum period of 6 months to earn an additional 0.50 percent over the card rate. Senior citizens will now get the following interest rates on their Acharya deposits.

Deposit Tenor Below Rs 2 Crore Rs 2 Crore and above
180 days to less than 1 year 4.75% 4.75%
1 year to less than 3 Years 5.50% 5.50%
3 years to less than 5 years 5.75% 5.75%
Above 5 years to 10 years 6.00% 6.00%
Source: Bank Website. With effect from 02-11-2021

CSB Bank Savings Account Interest Rates

CSB Bank Savings Account Interest Rates

The bank has also revised its interest rates on savings bank deposits on 2nd November 2021 and now savings account holders will get the following interest rates on their end-of-the-day balance.

  • On the end of the day balance of up to and including Rs 1 lakh, the bank offers an interest rate of 2.10%.
  • On the end of the day balance of up to and including Rs 25 lakh, the bank offers 2.10% for amount upto Rs 1 lakh, 2.75% for amount above Rs 1 lakh & up to 25 lakh.
  • On the end of the day balance of up to and including Rs 50 lakh, the bank offers 2.10% for amount upto Rs 1 lakh, 2.75% for amount above Rs 1 lakh & up to 25 lakh, 3.00% for amount above Rs. 25 lakh and up to Rs. 50 lakh.
  • On the end of the day balance of above Rs 50 lakh, CSB Bank offers an interest rate of 2.10% for amount upto Rs 1 lakh, 2.75 % for amount above Rs 1 lakh & up to 25 lakh, 3.00% for amount above Rs. 25 lakh and up to Rs. 50 lakh, 3.50% for the remaining balance (of above Rs 50 Lakh).



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Press Releases

Press Releases

[ad_1]

Read More/Less


Sr. No. State Amount to be raised
(₹ Cr)		 Amount Accepted
(₹ Cr)		 Cut off Price(₹)/Yield (%) Tenure
(Yrs)
1 Andhra Pradesh 500 500 7.00 17
500 500 7.00 18
2 Assam 500 500 5.25 3
500 500 6.94 10
3 Rajasthan 500 500 6.92 10
4 Tamil Nadu 1000 1000 99.53/7.0100 Re-issue of 6.97% Tamil Nadu SDL 2046 Issued on May 25, 2021
5 Uttar Pradesh 2500 2500 6.93 10
  TOTAL 6000 6000    

Ajit Prasad         
Director (Communications)

Press Release: 2021-2022/1165

[ad_2]

CLICK HERE TO APPLY

Leave a comment

UTI International launches India Sovereign Bond ETF

Banking & Finance

[ad_1]

Read More/Less


UTI International has launched an Indian Government Bond ETF listed on the Amsterdam Stock Exchange.

The sovereign bond ETF will track performance of the Nifty India Select 7 Government Bond index, which comprises of top seven most-liquid, local currency sovereign bonds issued by the Centre.

The index has been specifically created by NSE Indices. The index methodology is uniquely designed for global investors considering favourable factors such as high secondary market liquidity, high unutilised limits for Foreign Portfolio Investors and also giving preference to government bonds categorised under the Fully Accessible Route by RBI. BofA Securities has provided seed capital and has been appointed as Authorized Participant.

The UTI India Sovereign Bond ETF is domiciled in Ireland and structured in compliance with the European regulatory framework of UCITS (Undertaking for Collective Investments in Transferable Securities).

The investment manager of the ETF is UTI International, the Singapore-based subsidiary of UTI Asset Management Company.

This ETF will allow global investors to access India’s vibrant government securities market without having to deal with the complex access procedures typically associated with Indian fixed income.

Vibrant bond market

As India becomes increasingly relevant on the global investment landscape, investors will seek Indian yield in addition to equity returns. While India is presently not included in global fixed income benchmarks, this ETF could mark an inflection point in recognition of India’s bond markets.

Imtaiyazur Rahman, CEO of UTI AMC said the ETF will connect the country’s fixed income markets with the world and drive global investments to India.

Vikram Limaye, Managing Director and CEO, NSE said innovation in financial products is important for the development of Indian capital markets and the product provides a play at the intersection of yield and liquidity – two key variables for global investors.

It is an important stepping stone towards attracting global money in Indian government securities market through the ETF route, he said.

Jayesh Mehta, Managing Director & Country Treasurer, Bank of America N.A., India said India is one of the last remaining large investment grade rated economies whose sovereign bonds are under-owned by institutional investors.

The ETF structure will raise market awareness of Indian sovereign bonds as an asset class and improve accessibility at a time when global investors are seeking to diversify yield opportunities, he added

The ETF will be listed on Euronext Amsterdam AEX initially and then possibly other exchanges in Europe and Asia.

[ad_2]

CLICK HERE TO APPLY

Leave a comment , ,

Buy These 2 Stocks For Upto 38% Returns: Emkay Global Recommends

Personal Finance

[ad_1]

Read More/Less


Gulf Oil Lubricants

The Current Market Price (CMP) of Gulf Oil Lubricants is Rs. 590, and according to Emkay Global, the Target Price for the stock should be Rs. 815. So, in the upcoming 12 months the returns can be 38.1% according to Emkay Global. Hence, the firm has maintained its ‘Buy’ tick on the company’s stock and said that the company’s earnings can beat estimates on better-than-expected volumes.

Emkay Global's take on Gulf Oil Lubricants

Emkay Global’s take on Gulf Oil Lubricants

Gulf Oil Lubricants’ Q2FY22 revenue/EBITDA/PAT of Rs. 5.34bn/Rs773mn/Rs587mn were up by 30%/down 1%/down 1% YoY (up 28%/83%/93% QoQ), beating Emkay Global’s estimates. Lube sales volume of Gulf Oil Lubricants increased 12% YoY/20% QoQ to 33mn ltr, with growth across segments primarily driven by B2C and overall recovery. Net realization rose 7% QoQ to Rs161.7/ltr, though unit COGS was also up as cost pressures continued.

Keeping a ‘Buy’ tick on the stock, Emkay Global said, “We raise FY22E EPS by 19%, considering the H1 run rate and building in 4% higher EBITDA/ltr and 10% higher volumes. We raise FY23E EPS slightly on better volumes and keep FY24E largely unchanged. We raise the Dec’22 TP by 2% to Rs815. Reiterate Buy.”

Aditya Birla Fashion & Retail

Aditya Birla Fashion & Retail

The Current Market Price (CMP) of Aditya Birla Fashion & Retail is at Rs. 289, and according to Emkay Global, the Target Price for the stock should be Rs. 340. So, in the upcoming 12 months the returns can be 17.8% according to Emkay Global. Hence, the firm has maintained its ‘Buy’ tick on the company’s stock and said that the company is expecting strong recovery and faster expansion, with an improved growth outlook.

Emkay Global's take on Aditya Birla

Emkay Global’s take on Aditya Birla

Aditya Birla Fashion & Retail’s Q2 operating performance has been ahead of the firm’s estimates, despite a weak wholesale channel. Their Lifestyle segment recovered 92%, as Retail/Online channels surpassed pre#Covid levels, and Pantaloons recovery was slower at 73% due to higher mall presence. Emkay Global said, “We raise FY23-24 earnings estimates by 9-11% on a faster recovery and ethnic-wear consolidation. Considering a stronger recovery and higher growth visibility.”

Disclaimer

Disclaimer

The above stocks have been picked from the brokerage report of Emkay Global Financial Services Ltd. 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.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Buy This NBFC Stock For Potential Upside of 20% Says Geojit

Personal Finance

[ad_1]

Read More/Less


Q2FY22 performance of the company

According to the research report of the brokerage “For Q2FY22, Interest income declined 8.1% YoY to Rs. 1,173cr; while interest expense also declined slightly by 3.8% YoY to Rs. 254cr. Due to fixed nature of annual credit card fees, income earned from membership continued to grow to Rs. 1,244 (22.1% YoY).”

The brokerage has said “Also, due to growth in spends, receivables increased 12% YoY, over Rs. 26,700cr. The Cost to Income ratio has been high at 56.7%, as against 49.2% for Q2FY21. PAT reached Rs. 345cr, an increase of 67% YoY, as provision for loan losses declined 31.1% YoY to Rs. 594cr.”

According to Geojit new accounts of SBI Cards Ltd registered strong growth during Q2FY22, with a spike of 56% at 953,000 as compared to Q1FY22 and new account sourcing through SBI Channel vs. Open Market channels was 47.8%/52.2% in Q2FY22 (38.3%/61.7% in Q1FY22). “Cards-inforce reached 12.5 million, thus helping the company in maintaining its position as the second largest card issuer (market share for Cards in force was at 19.4% as of August 21). GNPA and NNPA as of September 2021 was 3.4% and 0.9% respectively” said Geojit.

Key highlights of the performance of SBI Cards Ltd according to Geojit

Key highlights of the performance of SBI Cards Ltd according to Geojit

  • Both retail and corporate spend trends registered a sharp increase of 41% and 80% YoY growth respectively.
  • 30-day spend active rate registered a spike to 49.9% (as against 47% in Q2FY21) indicating growth in portfolio and increase in credit consumption.
  • Regarding Asset Liability Management, Rs. 6,441cr of sanctioned bank lines remains unutilized and available for draw down as of September 21.
  • Net interest income declined 9.3% YoY in Q2FY22 to reach Rs. 919cr due to NIM contraction (-286bps YoY to 14.1%).
  • Pre-provision operating profit dropped 7.2% YoY to Rs. 1,058cr, whereas PAT jumped 67.5% YoY to Rs. 345cr, on account of lower provisioning (-31.1% YoY).
  • Company added 953,000 new accounts, registered 41% in retail spends, 80% in corporate spends and 12% growth in receivables.

Why the brokerage has set a “BUY” call?

Why the brokerage has set a “BUY” call?

According to Geojit “increased usage of digital payments, growing customer base, and launch of various customer-centric initiatives such as easy EMI repayments at low-interest rates are expected to drive growth in credit card segment. Travel and entertainment-related transactions registered impressive growth during the quarter; this is expected to further rise due to controlled spread of the pandemic and improved vaccination coverage.”

The brokerage has reported that “The ongoing festive season will also lead to high consumption trends. We are confident of the growth trajectory, and thus reiterate our BUY rating on the stock with a roll-forward target price of Rs. 1,325 based on 12x FY23E BVPS.”

Disclaimer

Disclaimer

The above stock has been picked from the brokerage report of Geojit. 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.



[ad_2]

CLICK HERE TO APPLY

Leave a comment
1 … 106 107 108 109 110 … 16,278