‘Buy’ This Telecom Stock For 16% Upside, ICICI Direct Recommends

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Target Price

The Current Market Price (CMP) of Bharti Airtel is Rs. 742. The brokerage firm, ICICI Direct has estimated a Target Price for the stock at Rs. 860. Hence the stock is expected to give a 16% return, in a Target Period of 1 year.

Stock Outlook
Current Market Price (CMP) Rs. 742
Target Price Rs. 860
1 year return 16.00%

Company performance

Company performance

Assuming conservative pass-through of ~75% to EBITDA, the wireless EBITDA will rise by ~29% from current levels. Additionally, Bharti Airtel (Airtel) announced a tariff hike in its prepaid segment with ~20% tariff hike across the board, ~25% hike in base entry-level 2G tariff with effect from November 26, 2021. Market Capitalisation of the company is Rs. 4,07,561 crore.

Comments by ICICI Direct

Comments by ICICI Direct

Maintaining a Buy rating, ICICI Direct said, “With prepaid subscriber and revenues forming ~95%, ~87-88% of overall subscribers, revenues, respectively, the tariff hike will result in wireless revenues increasing by ~19%. We highlight that we had built in ~15% step-up tariff over Q4FY22 and FY23. Thus, tariff increase implies accelerated (and bit higher) benefits with 5%, 6% upgrade in our FY22, FY23 India EBITDA estimates and ~3.6%, 4.5% upgrade in overall EBITDA estimate in FY22, FY23, respectively.”

About the company

About the company

Bharti Airtel Limited is a leading global telecommunications company with operations in 18 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 3 mobile service providers globally in terms of subscribers. In India, the company’s product offerings include 2G, 3G, and 4G wireless services, mobile commerce, fixed line services, high-speed home broadband, DTH, enterprise services including national & international long-distance services to carriers.

Disclaimer

Disclaimer

The above stock was picked from the brokerage report of ICICI Direct. 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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Reserve Bank of India – Tenders

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Reserve Bank of India invites online e-tenders for Design, Supply, Installation, Testing, Commissioning of Thermal Camera System for Bank`s Offices at Fort, Byculla and BKC in Mumbai

1. Online Tenders by e-tendering process are invited for above work at Bank’s Mumbai Regional Office at Mumbai. The e-tender is to be submitted through the website www.mstcecommerce.com. The work is estimated to cost Rs. 15 lakhs (Fifteen Lakhs Only) and is to be completed within 8 weeks from 14th day from the date of award of work.

2. Online Tenders will be available to view/download for all firms from 11:00 AM on November 23, 2021 but only those contractors who have minimum 5 years’ experience in the field of undertaking similar works of “Design, Supply, Installation, Testing, Commissioning of Thermal Camera System” shall be eligible for participation in the tender.

3. The contractor should have also executed successfully similar works on or after October 31, 2016 individually costing as under:

(a) Three works each costing not less than 40% of Rs. 15 Lakh

OR

(b) Two works each costing not less than 50% of Rs. 15 Lakh

OR

(c) One work costing not less than 80% of Rs. 15 Lakh

AND

(d) Have a minimum yearly turnover of 100% of the Rs. 15 Lakh during the last 3 financial years

AND

(e) Have a service set up in Mumbai for rendering after sales service. Only tenderers who qualify as above will be eligible to participate in the tender for the work.

The required documents evidencing compliance of all the above criteria (Pre-Qualification Papers) shall be submitted by the firm on or before December 14, 2021 by 05:00 PM at Fort Office, Estate Cell.

3. The contractors shall also be required to furnish, at the time of submitting Pre-Qualification papers the following information in writing along with documents to satisfy the Bank about their eligibility for participating in the tendering process:

(a) Composition of the firm Full particulars (whether contractor is an individual or a partnership firm or a company etc.) of the composition of the firm of contractors in detail should be submitted along with the name(s) and address(es) of the partners, copy of the Articles of association/power of Attorney/any other relevant document
(b) Work experience and completion of similar works of specified value during the specified period Copies of the detailed work orders for the qualifying works indicating date of award, value of awarded work, time given for completing the work, etc. and the corresponding completion certificates indicating actual date of completion and actual value of executed similar works should be enclosed in proof of the work experience.
    The details along with documentary evidence of previous experience if any, of carrying out works for the Reserve Bank of India at any centre should also be given.
(c) Creditworthiness of the contractor & their Turn over during the specified period Copies of the Income Tax Clearance Certificates/Income Tax Assessment orders along with the latest final accounts of the business of the contractor duly certified by a Chartered Accountant should be enclosed in proof of their creditworthiness and turnover for last three financial years.
(d) Name(s) and address(es) of the Bankers and their present contact executives Written information about the names and address of their bankers along with full details like names, postal addresses, e-mail IDs, telephone (landline and mobile) nos., fax nos. etc. of the contact executives (i.e. the persons who can be contacted at the office of their bankers by the Bank, in case it is so needed) should be furnished
(e) Details of bank accounts Full particulars of their bank accounts, like account no., type, when opened etc. should be given
(f) Name(s) and address(es) of the Clients and their present contact executives. Written information about the names and addresses of their clients along with full details, like names, postal addresses, e-mail IDs, telephone (landline and mobile) nos., fax nos. etc. of the contact executives (i.e. the persons who can be contacted at the office of their clients by the Bank in case it is so needed) should be furnished.
(g) Details of completed works The client-wise names of work(s), year(s) of execution of work(s), awarded and actual cost(s) of executed work(s), completion time stipulated in the contracts (s) and actual time taken to complete the work(s), names and full contact-details of the officers/authorities/departments under whom the work(s) was/were executed should be furnished.

4. In the event of intending tenderer’s failure to satisfy the Bank, the Bank reserves the right to refuse their participation/reject their tender.

5. Tender forms will be available for download on MSTC Website http://www.mstcecommerce.com from 11:00 AM on November 23, 2021. A pre-bid meeting of the eligible bidder (who meets the PQ criteria) will be held on December 24, 2021 at 11:00 AM in the Bank’s Office Building, Estate Cell, Fort Office, Mumbai

The Pre-Qualification papers super scribed as “Pre-Qualification documents for Design, Supply, Installation, Testing, Commissioning of Thermal Camera System for Bank`s Offices at Fort, Byculla and BKC in Mumbai.” addressed by name to Shri. Ajay Michyari, Regional Director, Reserve Bank of India, shall be submitted to AGM (Admin) Estate Cell, Fort Office Mumbai latest by December 14, 2021 till 05:00 PM for Bank’s examination. Alternatively, the scanned copy of all the PQ document may be forwarded to mail id: abhayjoshi@rbi.org.in and anandmahadevan@rbi.org.in latest by December 14, 2021 till 05:00 PM. However, those firms who have forwarded the scanned copies through mail has to submit the original copies of PQ documents on or before December 24, 2021 by 11:00 AM.

6. An EMD of Rs 30,000/- (Rupees Thirty Thousand Only) shall be submitted by the eligible tenderer on or before January 3, 2022 by 02:00 PM in the form and manner as prescribed in the Part-I of the tender.

7. Tender in prescribed form shall be submitted in two parts in online mode. Part-I tender will contain an online undertaking towards acceptance of Bank’s standard technical and commercial conditions for the proposed work, tenderers’ covering letter (scanned copy to be uploaded) and Part-2 (Price bid) to be filled online.

9. Part I of the tenders will be opened on January 3, 2022 at 03:00 PM in the online mode. Part II of the online tender will be opened on subsequent date, with due intimation to the eligible tenderers.

10. The applicants /tenders have to submit in a sealed envelope /cover:

  1. Client’s certificate as per format mentioned in the tender.

  2. Banker’s certificate as per format mentioned in the tender.

The certificates should be addressed to Shri. Ajay Michyari, Regional Director, Reserve Bank of India, Estate Office, Fort Cell, 2nd Floor, Mumbai- 400 001 and shall be submitted on or before December 14, 2021 till 05:00 PM in a sealed envelope/cover to AGM (Admin), Estate Cell, Fort Office, Mumbai. The client’s certificate shall be accepted only when the same is signed by an official of the rank of Executive Engineer or equivalent in respect of a Government/Semi Government organization or a PSU. The client’s certificate issued by the private organizations shall also accompany Tax Deducted at Source (TDS) certificates. Applications/tenders received without the above certificates are liable for rejection. The Bank shall have the right to independently verify these certificates.

The Bank shall evaluate the said reports before evaluation of price bid of the tenderers. If any tenderer is not found to possess the required eligibility for participating in the tendering process at any point of time and/or his performance reports received from his clients and/or his bankers are found unsatisfactory, the Bank reserves the right to reject his offer even after opening of Part-I of the tender. The Bank is not bound to assign any reason for doing so.

11. The Bank is not bound to accept the lowest tender and reserves the right to accept either in full or in part any tender. The Bank also reserves the right to reject any or all the tenders without assigning any reason thereof


SCHEDULE OF TENDER (SOT)

a. e-Tender no RBI/Mumbai/Estate/199/21-22/ET/267
b. Mode of Tender e-Procurement System
(Online Part I – Techno-Commercial Bid and Part II – Price Bid through www.mstcecommerce.com/eprochome/rbi)
c. Date of NIT available to parties to download 23.11.2021 from 11:00 AM onwards
d. Pre-Bid meeting 11:00 AM on 24.12.2021 at 2nd Floor, Estate Cell, Fort Office, Mumbai 400001
e. Earnest Money Deposit ₹ 30,000/- (Rupees Thirty Thousand only) by NEFT or in the form of DD on or before 2:00 PM on January 3, 2022.
The DD shall be submitted in sealed cover addressed by name to Shri Ajay Michyari, Regional Director, Main Office Building, Reserve Bank of India, Fort, Mumbai -400001 so as to reach Estate Office, Second Floor, Main Office Building, Reserve Bank of India, Fort, Mumbai- 400001

NEFT Details
A/c No – 04861436206
IFSC CODE – RBIS0MBPA04

f. Last date of submission of EMD January 3, 2022 till 2.00 PM
g. Last date of submission of Pre-Qualification (PQ) papers 14.12.2021 till 5:00 PM
h. Date of Starting of e-Tender for submission of on line Techno-Commercial Bid and price Bid at
www.mstcecommerce.com/eprochome/rbi
November 23, 2021 from 11:00 AM onwards
i. Date of closing of online e-tender for submission of Techno-Commercial Bid & Price Bid January 3, 2022 till 2.00 PM
j. Date & time of opening of Part-I (i.e., Techno-Commercial Bid)

Part II of the online tender will be opened on same day or subsequent date, which will be intimated to the tenderers in advance.

January 3, 2022 at 3.00 PM

Shall be intimated to the eligible bidders subsequently

k. Transaction Fee Rs.1000/- plus GST @18%
To be paid through MSTC payment Gateway/ NEFT/RTGS in favour Of MSTC Ltd.

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PMC Bank’s institutional depositors may have to wait for Unity IPO to get money back, BFSI News, ET BFSI

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Depositors of PMC Bank are set for an agonising wait of ten years till they get their money back.

The Reserve Bank has come out with a draft scheme for the takeover of the crisis-hit PMC Bank by the Delhi-based Unity Small Finance Bank (USFB).

The draft scheme of amalgamation envisages the takeover of the assets and liabilities of PMC Bank, including deposits, by USFB, thus giving a greater degree of protection for the depositors, the RBI said.

In a statement issued later, USFB said with the draft scheme ’96 per cent of all depositors will get immediate access to their full deposits’.

It said 99 per cent of the retail depositors will be paid in full by the fifth year and 100 per cent of retail depositors to be paid in full by the tenth year.

Retail depositors

According to the scheme deposits up to Rs 5 lakh can be claimed by depositors over a period of three to ten years.

The scheme says that depositors can claim up to Rs 50,000 at the end of three years and further can claim Rs 1 lakh at the end of four years, Rs 3 lakh at the end of five years and Rs 5.50 lakh at the end of 10 years. The RBI had doubled the amount depositors can withdraw from PMC Bank to Rs 1 lakh from Rs 50,000 in June 2020, allowing more than 84% of the depositors to withdraw their entire account balance.

RBI said the above limits are for depositors are over and above the withdrawals already made.

According to this schedule, the entire remaining deposits of PMC Bank depositors will be paid back within 10 years from the date the central government notifies this scheme of amalgamation. Further, the central bank has clarified that interest on these deposits shall not accrue after March 31, 2021, for five years.

PMC Bank's institutional depositors may have to wait for Unity IPO to get money back

“No further interest will be payable on the interest-bearing deposits of transferor bank for a period of five years from the appointed date. Provided further that interest at the rate of 2.75 per cent per annum shall be paid on the retail deposits of the transferor bank (PMC) which shall be remaining outstanding after the said period of five years from the appointed date. This interest will be payable from the date after five years from the appointed date,” RBI said.

Institutional depositors

About 80% of uninsured institutional deposits will be converted into Perpetual Non-Cumulative Preference Shares (PNCPS) of Unity SFB with dividend of one per cent per annum payable annually.

After ten years from the appointed date, Unity SFB may consider additional benefits for PNCPS holders either in the form of providing a step up in coupon rate or a call option, upon receipt of approval from the Reserve Bank.

The remaining 20% of the institutional deposits will be converted into equity warrants of Unity SFB at a price of Re.1 per warrant. These equity warrants will further be converted into equity shares of the Unity SFB at the time of the Initial Public Offer (IPO) when it goes for one.

“In respect of every other liability of the transferor bank (PMC) the transferee bank (Unity) shall pay only the principal amounts, as and when they fall due,to the creditors in terms of the agreements entered between them prior to the appointed date or the terms and conditions agreed upon,” RBI said.

PMC Bank's institutional depositors may have to wait for Unity IPO to get money back

In June, RBI had given an in-principle approval to Unity SFB, a joint venture of Centrum Financial Services and Resilient Innovations Pvt. Ltd which runs payments company BharatPe to take over PMC. Unity started operations as recently as November 1.

PMC Bank had 137 branches and deposits of around Rs 11,600 crore, at the time restrictions were announced.

Employees

The draft also said all the employees of the PMC Bank shall continue in service on the same remuneration and terms and conditions of service for three years from the appointed date.

“The draft scheme provides much needed relief and clarity to over 1,100 PMC Bank employees, who will remain employed and continue uninterrupted service to clients,” USFB said in the statement.

The RBI said, “The transferee bank (USFB) may discontinue the services of the key managerial personnel of the transferor bank after following the due procedure at any time, after the appointed date, as it deems necessary and providing them compensation as per the terms of their employment”.



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‘Buy’ This Stock For +40% Upside, In 1 Year: Sharekhan Recommends

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Target Price

The Current Market Price (CMP) of Mayur Uniquoters Ltd. is Rs. 477. The brokerage firm, Sharekhan has estimated a Target Price for the stock at Rs. 670. Hence the stock is expected to give a +40% return, in a Target Period of 1 year.

Stock Outlook
Current Market Price (CMP) Rs. 477
Target Price Rs. 670
1 year return 40.00%

Company performance

Company performance

Mayur Uniquoters Ltd’s Q2FY22 results have beaten expectations, led by higher sales, price hikes, and operating leverage benefits, partially mitigated by increased raw material prices. Net revenues increased by 55.9% YoY and 65.9% QoQ to Rs. 196 crore, led by a strong recovery in sales in both domestic and export markets. EBITDA margin improved 570 bps QoQ to 20.6% in Q2FY22. EBITDA and PAT increased by 60.7% YoY and 47.9% YoY to Rs. 60.7 crore and Rs. 47.9 crore respectively in Q2FY22.

Comments by Sharekhan

Comments by Sharekhan

According to Sharekhan, “We maintain a Buy on Mayur Uniquoters Limited (MUL) with an unchanged PT of Rs. 670, owing to positive business outlook and margin expansion.” However, the brokerage firm mentioned, “Stock is trading below its historical average multiples at P/E multiple of 14.2x and EV/EBITDA multiple of 8.6x its FY2023 estimates.”

About the company

About the company

MUL is the largest manufacturer of artificial leather/PVC vinyl, using the ‘Release Paper Transfer Coating Technology’ in India. The company has six manufacturing plants with a capacity of 3.1 million meters per month. The automotive segment is the largest contributor (57% of revenue), while the footwear segment contributes 35% to sales. MUL follows the OEM-based model with OEM contributing 75% to revenue. The domestic segment contributes about 80% to revenue, while the rest is contributed by exports

Disclaimer

Disclaimer

The above stock was picked from the brokerage report of Sharekhan. 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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Gold Rates Are Down Sharply In The Global Markets, As Powell Remains As Fed Chair

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Jerome Powell as Fed Chair

Now, after US President Joe Biden has finally announced that Jerome Powell will remain as the US Federal Reserve Chairman in the next term, for the upcoming 4 years, gold rates went down sharply in the gold futures markets, and the spot market. On the other hand, US Dollar gained a 15-month high and US Treasury yields also increased, after the announcement. Earlier, it was anticipated that Biden might pick Lael Brainard as the Fed chair, who is more dovish than Powell, but the final decision has dropped that speculation.

Gold rates

Gold rates

Along with gold, silver prices are also down, while gold is being quoted at a two-week low rate. Comex December Gold Futures stood at $1808/oz till November 22, while in the spot market gold stood at $1808.6/oz till last traded in the morning, on November 23. Gold rates range at around $1805/oz is concerning for gold traders, but it will be profitable for investors and common buyers all over the world.

Inflation

Inflation

Analysts were eyeing for a $1900/oz and above for gold as the inflation is not expected to fall significantly very soon, and the US Fed is not ready to hike the interest rate this year. But this significant drop can keep the gold rates subdued globally for the time being. However, if inflation continues to surge, gold rates will hike again in the international markets.

As Powell is going to hold the Chair of US Fed, analysts are anticipating that Powell will retain the same monetary policy. Hence, without any more speculation about dovish policy, gold rates are dropping globally. Additionally, oil prices also stood at a six-week low overnight, after Biden announced Powell’s name as Fed Chair.

Expert's opinion

Expert’s opinion

Analyst Jim Wyckoff told Kitco News, “It can be argued that the Powell news was just an excuse for the shorter-term gold and silver futures traders to ring the cash register and take profits after recent good price gains. Reason: The marketplace generally expected Powell to be reappointed and gold should not have reacted the way it did. Nothing has changed for the metals markets, fundamentally, from last Friday’s closes. No significant chart damage was inflicted in gold or silver today and their near-term price up-trends remain in place. The metals markets are likely to continue to be supported by the inflation trade-meaning the metals will continue to be sought out as a hedge against rising and even problematic price inflation.”

Indian gold rates

Indian gold rates

In India, gold rates are also on the verge of falling. On November 23, 22 carat gold rates, quoted at Rs. 48,200, and 24 carat gold rates Rs. 49,200. Since November 18, Indian gold rates started to fall significantly, and that trend is expected to continue now. This will certainly improve gold demand in India and will be profitable for common buyers. After the festive season of Diwali, Indians are having the wedding season now. So, a fall in gold rates will be bankable for them.



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RBI, BFSI News, ET BFSI

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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

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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

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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%

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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

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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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