Kotak Mahindra Bank Revises Interest Rates On Fixed & Recurring Deposits: Latest Rates Here

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Investment

oi-Vipul Das

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Among the leading private sector banks of India, Kotak Mahindra Bank allows different types of term deposit schemes for its debt investors having a low-risk appetite. For salaried individuals who are seeking to earn risk-free returns against their regular deposits, the bank offers a unique deposit account dubbed as Recurring Deposit (RD). The highest amount of Rs 25,000 each month is allowed to deposit in an RD account for a tenure of more than 36 months and a maximum RD amount of Rs.1,00,000/- per month is allowed for a tenure of up to 36 months at Kotak Mahindra Bank. One can open an RD account at the bank for a flexible tenure ranging from 6 months to 10 years. On the other hand, Kotak Mahindra Bank also allows a fixed deposit scheme where investors can park a fixed amount of money for a tenure that can range from 7 days to 10 years to gain interest rate on their deposits of less than Rs 2 Cr. For both deposit schemes, the bank has recently revised interest rates which are in force from 23rd September 2021.

Kotak Mahindra Bank Recurring Deposit Interest Rates

Kotak Mahindra Bank Recurring Deposit Interest Rates

For recurring deposits made by resident individuals & HUF only, Kotak Mahindra Bank is offering the following interest rates which are applicable from 23rd September 2021.

Period Interest Rate p.a. (%) Senior Citizen Rates p.a. (%)
6 Months 4.25% 4.75%
9 Months 4.40% 4.90%
12 Months 4.50% 5.00%
15 Months 4.75% 5.25%
18 Months 4.75% 5.25%
21 Months 4.75% 5.25%
24 Months 5.00% 5.50%
27 Months 5.00% 5.50%
30 Months 5.00% 5.50%
33 Months 5.00% 5.50%
3 years – less than 4 years 5.10% 5.60%
4 years – less than 5 years 5.20% 5.70%
5 years – 10years 5.25% 5.75%
Source: Bank Website

Kotak Mahindra Bank Fixed Deposit Interest Rates For Regular Customers

Kotak Mahindra Bank Fixed Deposit Interest Rates For Regular Customers

For Domestic, NRO, NRE fixed deposits of less than Rs 2 Cr, Kotak Mahindra Bank is offering the following interest rates to the regular customers with a premature withdrawal option.

Maturity Periods Less than Rs.2 Crore Annualised Yield
7 – 14 Days 2.50% 2.50%
15 – 30 Days 2.50% 2.50%
31 – 45 Days 2.75% 2.75%
46 – 90 Days 2.75% 2.75%
91 – 120 Days 3.00% 3.00%
121 – 179 days 3.20% 3.20%
180 Days 4.20% 4.20%
181 Days to 269 Days 4.25% 4.30%
270 Days 4.40% 4.45%
271 Days to 363 Days 4.40% 4.45%
364 Days 4.40% 4.45%
365 Days to 389 Days 4.50% 4.58%
390 Days (12 months 25 days) 4.75% 4.84%
391 Days – Less than 23 Months 4.75% 4.84%
23 Months 4.90% 4.99%
23 months 1 Day- less than 2 years 4.90% 4.99%
2 years- less than 3 years 5.00% 5.09%
3 years and above but less than 4 years 5.10% 5.20%
4 years and above but less than 5 years 5.20% 5.30%
5 years and above upto and inclusive of 10 years 5.25% 5.35%
Source: Bank Website, effective from 23rd September 2021

Kotak Mahindra Bank Fixed Deposit Interest Rates For Senior Citizens

Kotak Mahindra Bank Fixed Deposit Interest Rates For Senior Citizens

On their fixed deposits of less than Rs 2 Cr, senior citizens will get an additional rate over the applicable card rate to the general public. For deposits maturing in 7 days to 10 years, senior citizens will now get the following interest rates.

Maturity Periods – Premature Withdrawal Allowed Less than Rs.2 Crore Annualised Yield
7 – 14 Days 3.00% 3.00%
15 – 30 Days 3.00% 3.00%
31 – 45 Days 3.25% 3.25%
46 – 90 Days 3.25% 3.25%
91 – 120 Days 3.50% 3.50%
121 – 179 days 3.70% 3.70%
180 Days 4.70% 4.70%
181 Days to 269 Days 4.75% 4.81%
270 Days 4.90% 4.96%
271 Days to 363 Days 4.90% 4.96%
364 Days 4.90% 4.96%
365 Days to 389 Days 5.00% 5.09%
390 Days (12 months 25 days) 5.25% 5.35%
391 Days – Less than 23 Months 5.25% 5.35%
23 Months 5.40% 5.51%
23 months 1 Day- less than 2 years 5.40% 5.51%
2 years- less than 3 years 5.50% 5.61%
3 years and above but less than 4 years 5.60% 5.72%
4 years and above but less than 5 years 5.70% 5.82%
5 years and above upto and inclusive of 10 years 5.75% 5.88%
Source: Bank Website, effective from 23rd September 2021

Story first published: Friday, September 24, 2021, 16:05 [IST]



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Top 5 Private Sector Banks Promising Good Returns On Recurring Deposits

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Yes Bank

Yes Bank allows recurring deposits for a tenure ranging from 6 months to 10 years. For a deposit amount of less than Rs 2 Cr, the bank has revised its interest rates on recurring deposits from 5th August 2021. On an RD account, senior citizens are also entitled to get an additional rate of 0.50% and the most recent interest rates on the RD account of Yes Bank are as follows.

Period Interest Rate (per annum) Senior Citizen Rates (per annum)
6 Months 5.00% 5.50%
9 Months 5.25% 5.75%
12 Months 5.75% 6.25%
15 Months 5.75% 6.25%
18 Months 6.00% 6.50%
21 Months 6.00% 6.50%
24 Months 6.00% 6.50%
27 Months 6.00% 6.50%
30 Months 6.00% 6.50%
33 Months 6.00% 6.50%
36 Months 6.25% 7.00%
5 years upto 10 Years 6.50% 7.25%
Source: Bank Website, w.e.f 5th August, 2021

RBL Bank

RBL Bank

With a minimum deposit amount of Rs 1000 one can open a recurring deposit amount at RBL Bank for a tenure ranging from 6 months and up to 20 years. With effect from 1st September 2021, RBL Bank has revised interest rates on its domestic recurring deposits and NRO/NRE Deposits of less than Rs 3 Cr which are listed below.

Period of Deposit Interest Rates p.a. Senior Citizen Interest Rates p.a.
7 days to 14 days 3.25% 3.75%
15 days to 45 days 3.75% 4.25%
46 days to 90 days 4.00% 4.50%
91 days to 180 days 4.50% 5.00%
181 days to 240 days 5.00% 5.50%
241 days to 364 days 5.25% 5.75%
12 months to less than 24 months 6.00% 6.50%
24 months to less than 36 months 6.00% 6.50%
36 months to less than 60 months 6.30% 6.80%
60 months to 60 months 1 day 6.30% 6.80%
60 months 2 days to less than 120 months 5.75% 6.25%
120 months to 240 months 5.75% 6.25%
Source: Bank Website, w.e.f. September 01, 2021

IndusInd Bank

IndusInd Bank

With a minimum deposit amount of Rs 500 and thereafter in multiples of 100, you can open an RD account at IndusInd Bank for a maturity period of 9 months to 61 months and above. With effect from 23rd July 2021, this private sector bank had revised interest rates on recurring deposits which can be found below.

Tenure Interest Rates p.a. (%) Senior Citizen Rates p.a.(%)
09 Months 5.5 6
12 Months 6 6.5
15 Months 6 6.5
18 Months 6 6.5
21 Months 6 6.5
24 Months 6 6.5
27 Months 6 6.5
30 Months 6 6.5
33 Months 6 6.5
Above 3 years to below 61 month 6 6.5
61 months and above 5.5 6
Source: Bank Website, w.e.f. July 23rd, 2021

IDFC First Bank

IDFC First Bank

At IDFC First Bank, one can open a recurring deposit account for minimum and maximum monthly deposit amount of Rs 100 and Rs 75,000 respectively. The bank has revised its interest rates on RD with effect from 1st May 2021 which are framed below. Note: Senior citizens will be eligible to get an additional rate of 0.50% over the below rate.

Period (in Months) RD-Rate of Interest (%p.a.) w.e.f. May 01, 2021
6 months 5.00%
9 months 5.25%
12 months 5.50%
15 months 5.50%
18 months 5.50%
21 months 5.50%
24 months 5.50%
27 months 5.75%
36 months 6.00%
39 months 6.00%
48 months 6.00%
60 months 6.00%
90 months 5.25%
120 months 5.25%
Source: Bank Website

Axis Bank

Axis Bank

With an online account opening option, Axis Bank allows minimum monthly installments of Rs. 500 while the maximum can run into multiples thereof with no maximum limit to open an RD account for a tenure ranging from 6 months to 10 years. The bank recently revised its interest rates on domestic term deposits and the new rates are applicable from 23rd September 2021 which can be seen below for a deposit amount of less than Rs 2 Cr.

Period Regular Interest Rates (in % p.a.) Senior citizens interest rates ( in % p.a.)
7 days to 14 days 2.5 2.5
15 days to 29 days 2.5 2.5
30 days to 45 days 3 3
46 days to 60 days 3 3
61 days 3 3
3 months 3.5 3.5
4 months 3.5 3.5
5 months 3.5 3.5
6 months 4.4 4.65
7 months 4.4 4.65
8 months 4.4 4.65
9 months 4.4 4.65
10 months 4.4 4.65
11 months 4.4 4.65
11 months 25 days 4.4 4.65
1 year 5.1 5.75
1 year 5 days 5.15 5.8
1 year 11days 5.1 5.75
1 year 25 days 5.1 5.75
13 months 5.1 5.75
14 months 5.1 5.75
15 months 5.1 5.75
16 months 5.1 5.75
17 months 5.1 5.75
18 months 5.25 5.9
2 years 5.4 6.05
30 months 5.4 6.05
3 years 5.4 6.05
5 years to 10 years 5.75 6.5
Source: Bank Website, W.E.F. 23/09/2021



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Here are the top 5 bank fixed deposit interest rates, BFSI News, ET BFSI

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The fixed deposit (FD) is one of the most popular investment avenues. Many investors prefer bank FDs over equities as the former are considered safe. The return earned from a bank FD is fixed and known at the time of investing unlike in case of equity.

Fixed deposits are also known as term deposits. This is because money is deposited with a bank for a fixed predetermined time period or term. Here are certain things that you must know while opening an FD account.

You can open a term deposit account with a bank where one already has a savings account. Some banks may allow you to open an FD account without having to open a savings bank account. However, you will be required to undergo a know-your-customer (KYC) process in case the bank allows you to place an FD without a savings account. You will be asked to provide self-attested photocopies of ID proof such as PAN, address proof such as Aadhaar, Voter ID card, passport etc. and coloured passport size photographs. You will be required to show the original documents which will be returned immediately post-verification.

  • Minimum and maximum investment amount

The minimum amount needed to open a fixed deposit account varies from bank to bank. However, there is no limit on the maximum amount which one can invest in an FD.The minimum and maximum tenure offered for which an FD can be placed varies from one bank to another. Usually, one can invest in FD for a minimum period of 7 days and for a maximum of 10 years. You can choose the period for which you wish to keep your FD as per your requirement.

Top 5 bank fixed deposit interest rates
Tenure: 1 year

Bank Name Interest rate (%) Compounded qtrly What Rs 10,000 will grow into
Indusind Bank 6.00 10613.64
RBL Bank 6.00 10613.64
DCB Bank 5.55 10566.66
Bandhan Bank 5.50 10561.45
South Indian Bank 5.40 10551.03

Tenure: 2 years

Bank Name Interest rate (%) Compounded qtrly What Rs 10,000 will grow into
Indusind Bank 6.00 11264.93
RBL Bank 6.00 11264.93
Bandhan Bank 5.50 11154.42
DCB Bank 5.50 11154.42
Karur Vysya Bank 5.50 11154.42

Tenure: 3 years

Bank Name Interest rate (%) Compounded qtrly What Rs 10,000 will grow into
RBL Bank 6.30 12062.63
Indusind Bank 6.00 11956.18
DCB Bank 5.95 11938.52
Karur Vysya Bank 5.50 11780.68
South Indian Bank 5.50 11780.68

Tenure: 5 years

Bank Name Interest rate (%) Compounded qtrly What Rs 10,000 will grow into
RBL Bank 6.30 13669.00
Indusind Bank 6.00 13468.55
DCB Bank 5.95 13435.42
Axis Bank 5.75 13303.65
Karur Vysya Bank 5.75 13303.65

All data sourced from Economic Times Intelligence Group (ETIG)
Data as on September 24, 2021
The interest rate offered on fixed deposits (FDs) will depend on the period for which you are investing in the FD and also vary from bank to bank for FDs for the same tenure. Senior citizens are typically offered higher interest rates. To receive the interest payment, you can choose either cumulative option or non-cumulative option.

Under the cumulative option, interest accrued on the deposit is reinvested and paid at the time of maturity along with principal amount.

In the non-cumulative option, interest is credited into the depositors account at the pay-out interval chosen at the time of placing the FD. Generally, one can choose from the options of receiving the interest on monthly, quarterly, half-yearly or annually basis as offered by the bank.

Interest received on FD is fully taxable in the hands of the investor. It will be taxed at the rates applicable to your income tax slabs. TDS will be deducted by the bank if the interest payment in a single financial year exceeds Rs 10,000, as per current tax laws. To avoid TDS, one can submit Form 15G or Form 15H (as applicable) to the bank.In case of any urgent requirements, one can break his/her FD before the maturity date. A penalty may be levied by the bank on premature withdrawals. The penalty amount varies from one bank to another.

While placing a FD, one must check the rules regarding pre-mature withdrawals. Sometimes, banks offer FDs without premature withdrawal facility as well as FDs without penalty on premature withdrawal.

One can use FD as a collateral to obtain a loan. The maximum loan sanctioned is usually a certain percentage of the principal deposit. This percentage may vary bank to bank.Nomination facility for Fixed Deposits (FDs) is also available.At maturity, if no specific instructions are given, most banks automatically renew the FD for the same period for which it was initially placed at the interest rates prevailing on the date the FD matures. If you do not want automatic renewal of your FD, you need to choose this option on the account opening form.

If you have forgotten to mention it, then you can visit the bank branch on the day of maturity and ask them to credit the proceeds into your savings account.

Nowadays banks offer the facility of opening an FD account online via Net banking through your account. One can invest in FD without having to visit a branch physically. However, remember that your bank may not issue you a printed FD receipt/advice if invested online.

Disclaimer: The data/information given above is subject to change therefore before taking any decision based on it, contact the bank/institution concerned.

For any queries or changes, please write to us on etigdb@timesgroup.com or call us at 022 – 66353963.



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This Media Stock Doubled Investor Wealth In 15-Days, Buy The Stock Say Brokerages

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Buy Zee for a 30% upside, says Emkay

Emkay Global sees an upside of nearly 30% on the stock of Zee Entertainment to a target price of Rs 430 in 12-months time.

Zee and Sony Pictures Networks India (SPNI) have entered into a non-binding term sheet (with a 90-day exclusivity period) for the merger of the two companies. The deal should address investor concerns, and fill the content gaps each of them are currently having.

Emkay Global views the transaction as a big positive as it might resolve a slew of issues relating to corporate governance and investor activism, with the board of directors to be decided by

Sony.

“The merged entity will become the market leader with a comprehensive bouquet of offerings, along with the necessary balance sheet strength to invest in digital businesses and

sports rights. Sony Pictures Networks India emphasis has been on building sports and HSM portfolios, while Zee has been focused on regional, HSM and movie channels,” the brokerage has said.

According to Emkay Global, the merged entity will benefit from increased bargaining power with content producers and distributors; optimization of costs by shutting down tail-end channels, thus, freeing up management bandwidth and costs attached to them; and 3) competitive edge. All these factors should augur well for better valuation, the brokerage says.

“Zee’s underlying broadcasting business has been facing challenges due to the Covid-induced shift toward digital. However, in our view, the merged entity’s comprehensive

offerings will place it ahead of competitors on the growth front,” the brokerage has said.

Buy Zee Entertainment stock says Sharekhan for a target price of Rs 400

Buy Zee Entertainment stock says Sharekhan for a target price of Rs 400

Brokerage firm Sharekhan too has recommended buying the stock of Zee Entertainment with a price target of Rs 400 on the stock. The brokerage feels that the proposed merger would be a strategic fit from a revenue perspective as it would strengthen Zee Entertainment’s portfolio with sport, kids and English movie properties.

“The infusion of growth capital of $1.6 billion by Sony Pictures, the combined entity’s cash balance would increase to $1.8 billion, which would be used to accelerate its digital platform growth and invest in premier content including sports. We believe that corporate governance concerns will get addressed with the controlling stake of Sony Pictures and this will trigger multiple re-ratings for Zee Entertainment. The stock is currently trading at a reasonable valuation at 20x/18x of FY2023E/FY2024E earnings estimates. Hence, we maintain a Buy rating on Zee Entertainment with a revised rice target of Rs. 400,” the brokerage has said.

Disclaimer

Disclaimer

The recommendation of the Zee Entertainment is taken from the brokerage reports of Sharekhan and Emkay Global. The stock has run-up significantly and hence investors may also want to exercise caution. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage houses are not liable for any losses caused as a result of decisions based on the article.



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Crypto adoption goes up in tier-2 and tier-3 cities in India, BFSI News, ET BFSI

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NEW DELHI: According to the data from crypto exchanges including CoinDCX and Wazir X, tier-2 and tier-3 cities are adopting and acclimatizing to cryptocurrency trading faster than others, Economic Times reports.

The rise in cryptocurrency adoption is partly attributed to the work-from-home culture brought about by the pandemic as also to the positive response from the government, the report says The diverse profile of the Indian cryptocurrency users has caught as much attention.

Data from the crypto exchanges reveals the following findings:

* Majority of the new signups were reported from tier-2 and tier-3 cities. Wazir X had 55 percent users in 2021 from these small cities.

* Among small cities, Bhopal reported the highest growth at 100 percent, according to BuyUcoin exchange.

* Other leading exchanges also witnessed similar sign-up growth patterns from Ahmedabad, Lucknow, Patna, Vadodara, Kolkata and Bhopal.

* WazirX reported a 2,375 percent increase in sign-ups in 2021, from tier-2 and tier-3 cities.

* The following information came up about the profile of crypto users :

– The new crypto users are mostly under 35 years and possess some kind of degree.

– 90 per cent of these investors are IT professionals, MBA graduates, engineers and start-up owners.

– The local exchanges unanimously reported a remarkable rise in women investors at 30-40 per cent from last year’s 15 per cent.

– The young Indian investors are not only banking on Bitcoin, but are also interested in other forms of cryptocurrency assets like DeFi assets and NFTs.

The new cohort of young cryptocurrency investors who are keen towards all forms of virtual assets. This has led to diversification of the investment patterns in the Indian crypto markets.



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5 High Dividend Yield MNC Stocks 2021 From NSE MNC Index

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Vedanta: Dividend Yield is 9.35%

Vedanta, founded in 1965, is a Large Cap business in the Diversified sector with a market capitalization of Rs 111,367.21 crore. Only 3.89 percent of trading sessions in the last 16 years had intraday gains of more than 5%. In the fiscal year ended March 31, 2021, the company generated an ROE of 18.62 percent, surpassing its five-year average. 9.66% of the total population.

The stock returned 27.97 percent over three years, compared to 56.47 percent for the Nifty 100.

Since July 23, 2001, Vedanta Ltd. has declared 32 dividends. Vedanta Ltd. has issued an equity dividend of Rs 28.00 per share in the last 12 months. This calculates to a dividend yield of 9.35 percent at the current share price of Rs 299.60.

Sanofi India: Dividend Yield is 4.46%

Sanofi India: Dividend Yield is 4.46%

Sanofi India, founded in 1956, is a Mid Cap business in the Pharmaceuticals sector with a market capitalization of Rs 18,847.22 crore. Only 1.64 percent of trading sessions in the last 16 years had intraday gains of more than 5%. The stock gained 22.9 percent over three years, compared to 60.47 percent for the Nifty Midcap 100. Over a three-year period, Nifty Pharma Stock returned 22.9 percent, compared to Nifty Pharma, which returned 39.27 percent to investors.

Over the last three years, the company has maintained a respectable ROCE of 28.09 percent. The company is almost debt-free. In the last five years, the company has maintained effective average operating margins of 21.88 percent. Sanofi India’s EPS increased by 15.31%, which is a positive sign for the company.

Since May 17, 2001, Sanofi India Ltd. has declared 43 dividends. Sanofi India Ltd. has declared an equity dividend of Rs 365.00 per share in the last 12 months. This calculates to a dividend yield of 4.46 percent at the current share price of Rs 8183.55.

Castrol India: Dividend yield is 5.67%

Castrol India: Dividend yield is 5.67%

Castrol India Ltd., founded in 1979, is a Mid Cap business in the Petrochemicals industry with a market capitalization of Rs 13,961.46 crore. Only 1.49 percent of trading sessions in the last 14 years had intraday gains of more than 5%. The company has enough cash on hand to cover its contingent liabilities. The stock returned -9.55 percent over three years, compared to 60.47 percent for the Nifty Midcap 100.

The company has paid 44 dividends to shareholders since August 8, 2000. In the previous 12 months, Castrol India Ltd. distributed an equity dividend of Rs 8.00 per share. At the present share price of Rs 141.15, this works out to a 5.67 percent dividend yield.

Ambuja Cements: Dividend Yield is 4.29%

Ambuja Cements: Dividend Yield is 4.29%

Ambuja Cements, founded in 1981, is a Large Cap firm in the Cement Industry with a market capitalization of Rs 83,307.75 crore. Only 1.79 percent of trading sessions in the last 16 years had intraday gains of more than 5%. The stock returned 86.07 percent over three years, compared to 56.47 percent for the Nifty 100 index. Over a three-year period, the stock returned 86.07 percent, compared to 56.38 percent for the Nifty Infrastructure index.

Since August 30, 2000, Ambuja Cements has paid out 40 dividends. Ambuja Cements Ltd. distributed an equity dividend of Rs 18.00 per share in the previous 12 months.

The dividend yield is 4.29 percent based on the current share price of Rs 419.55.

Oracle Financial Services: Dividend yield is 4.26%

Oracle Financial Services: Dividend yield is 4.26%

Oracle Financial Services Software, founded in 1989, is a Large Cap business in the IT Software sector with a market capitalization of Rs 40,461.66 crore. Only 2.32 percent of trading sessions in the last 16 years had intraday gains of more than 5%. Since the last five years, the company has had no debt. The company’s QoQ revenue increase was 13.76 percent, the best in the prior three years. In comparison to the Nifty 100, which returned 56.47 percent over three years, the stock returned 16.48 percent. Over a three-year period, the stock returned 16.48 percent, while the Nifty IT returned 127.91 percent to investors.

Since August 27, 2002, Oracle Financial Services Software Ltd. has announced 12 dividends. Oracle Financial Services Software Ltd. distributed an equity dividend of Rs 200.00 per share in the last 12 months. With a share price of Rs 4698.05, this equates to a 4.26 percent dividend yield.

5 High Dividend Yield MNC Stocks In India 2021

5 High Dividend Yield MNC Stocks In India 2021

Name Sector Price Dividend Yield
Vedanta Mining & Mineral products 295.80 9.35%
Castrol India Chemicals 140.85 5.67%
Oracle Financial Services IT – Software 4,839.90 4.26%
Sanofi India Pharmaceuticals 8,171.20 4.45%
Ambuja Cements Cement 415.85 4.29%

Disclaimer

Disclaimer

The views and investment tips expressed by authors or employees of Greynium Information Technologies, should not be construed as investment advice to buy or sell stocks, gold, currency, or other commodities. Investors should certainly not take any trading and investment decision based only on information discussed on GoodReturns.in We are not a qualified financial advisor and any information herein is not investment advice. It is informational in nature. 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.



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IIFL Finance to raise up to Rs 1,000cr, BFSI News, ET BFSI

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Fairfax-backed IIFL Finance plans to raise a Rs 1,000-crore public issue of secured bonds on September 27 for business growth and capital augmentation. The bonds offer up to 8.75% yield and are rated AA/Stable by Crisil and AA+/negative by Brickwork. The size of the issue is Rs 100 crore, with a green-shoe option to retain over-subscription up to Rs 900 crore (aggregating to a total of Rs 1,000 crore).

In addition to the coupon, the company will offer an incentive of 0.25% per annum for existing bond or equity shareholders. The NCD is available in tenors of 24, 36 and 60 months. The frequency of interest payment is available on a monthly, annual and at maturity basis for the 60-month tenor, while for other tenors it is available on an annual and at maturity basis.

“The funds raised will be used to meet the credit need of more such customers and accelerate our digital process transformation to enable a frictionless experience,” IIFL Finance CFO Rajesh Rajak said.

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Dues recovery: lnduslnd Bank acquires 4.79% in McLeod Russel by invoking pledged shares

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In June, lnduslnd Bank had acquired 70,67,500 equity shares of McLeod, forming 6.77% of paid-up equity share capital, by invoking pledged shares also for recovery of its dues.

lnduslnd Bank on Thursday said it has acquired a 4.79% stake in debt-laden tea maker McLeod Russel India by invoking pledged shares for recovery of its dues. In a stock exchange filing, the bank said pursuant to invocation of pledge of shares, it acquired 50,00,000 equity shares of McLeod Russel, forming 4.79% of paid-up equity share capital of the company, a part of the financially-stressed Williamson Magor group.

“The equity shares of McLeod Russel India held by lchamati Investments were pledged with the bank for securing the outstanding dues of Mcleod Russel India (MRIL), the borrower company,” lnduslnd Bank said, adding it invoked pledged shares for recovery of its dues from MRIL, one of the world’s largest tea producers.

In a relief to the Khaitans-controlled Williamson Magor group, the National Company Law Tribunal (NCLT) earlier this month gave its approval to withdrawing of the corporate insolvency resolution process (CIRP) against McLeod after its promoters had reached a settlement with Techno Electric & Engineering, one of its financial creditors.

Earlier, the New Delhi bench of the NCLT, vide its order dated August 6, admitted the insolvency application filed by Techno Electric under Section 7 of the Insolvency and Bankruptcy Code. The financial creditor had filed the insolvency application after McLeod had defaulted on repayments of term loans of Rs 100 crore and interest thereon.

In June, lnduslnd Bank had acquired 70,67,500 equity shares of McLeod, forming 6.77% of paid-up equity share capital, by invoking pledged shares also for recovery of its dues.

Besides IndusInd Bank, other financial creditors to the company are: Indian Bank, Axis Bank, HDFC Bank, ICICI Bank, State Bank of India, UCO Bank, Punjab National Bank, Yes Bank, RBL Bank and Standard Chartered Bank, among others. Notably, the promoter shareholding in McLeod at the end of the first quarter this fiscal stood at 10.07%.

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Realty Stocks To Buy As Outlook For The Sector Remains Bullish: Nifty Realty Gains 23% In 4 Session

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Investment

oi-Roshni Agarwal

|

From Friday’s close (September 17, 2021), Nifty Realty index has gained from 414 points to hit a fresh high of 508 in today’s session, posting whopping gains of 23 percent in just 4 trading sessions. There is suggested a fresh breakout in the Nifty Realty index after a period of 10 years of consolidation and this paves the way for fresh upsides in the realty counters.

Realty Stocks To Buy As Outlook For The Sector Bullish

Realty Stocks To Buy As Outlook For The Sector Remains Bullish: Nifty Realty Gains 23% In 4 Session

Triggers for good gains in the realty index

There is cheer in the overall real estate market amid record low home loan interest rate, push for affordable housing, increase in demand for big residential premises amid work from home regime, growth in the technology space and industry consolidation on the back of RERA. As per analysts, a need-driven investment into the sector has come into play. Also, as FD rates are at a record low and gold is expensive, realty is turning out to be the preferred investment option as the recent stamp duty cut is also providing a fillip.

Realty stocks to buy as suggested by analysts and brokerages as the outlook for India’s real estate sector remains bullish

Sobha Ltd.: Angel Broking is bullish on this South India based realty counter and had recommended a ‘Buy’ on the scrip at a price of Rs. 730.2 for the long term, setting a target of Rs. 870 per share. This implies a straight 7 percent upside from current price of Rs. 810.6 per share.

Rationales given for a ‘Buy’:

Inventory levels for the company have moved down in last 1.5 years. The company is expected to launch 17 new projects spread over 12.56 mn sqft. We have seen a strong consolidation among listed players in India, says the brokerage firm.

Head of Research, Swastika Investmart Ltd. is of the view that the Nifty Realty index is coming out of 10 years of consolidation that may lead to a big bull run in the next 2-3 years. Sobha is their top pick in the realty space due to its diversified portfolio, strong growth, and healthy balance sheet.

Other preferred picks-Oberoi realty, Kolte Patil, Brigade enterprises, Prestige, and Suntek realty are other preferred picks.

Godrej Properties: This realty stock is also fundamentally strong and one can buy the scrip of Godrej on dips for good gains in the long term. The Mumbai-based realty major could well capitalize on the demand recovery in the residential space and sold residential units worth Rs. 575 crore at its luxury project in Noida in a single day.

“We have a very bullish view on the Indian real estate sector for the next 3-4 years and the market is also taking cognizance of the turnaround in the Indian realty sector where the Nifty realty index has been surging despite negative news are coming from Chinese real estate market, adds Head of Research, Swastika Investmart Ltd.

GoodReturns.in

Story first published: Thursday, September 23, 2021, 23:03 [IST]



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4 Auto and Auto Ancillaries Stocks Doubled Investors Money In 2021 And Paid Dividend

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Steel Strips Wheels

Steel Strips Wheels, founded in 1985, is a Small Cap company in the Auto Ancillaries category with a market capitalization of Rs 2,848.73 crore. The company has enough cash on hand to cover its contingent liabilities.

The stock returned 64.35 percent over three years, compared to 53.39 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned 64.35 percent, while the Nifty Auto delivered investors a -2.42 percent return.

Steel Strips Wheels Ltd. declared a Rs 2.00 per share equity dividend in the last 12 months. This amounts in a dividend yield of 0.11 percent at the current share price of Rs 1751.95. The stock has returned over 200% since January 2021.

High Energy Batteries

High Energy Batteries

The company has enough cash on hand to cover its contingent liabilities. Annual sales growth of 26.43 percent surpassed the company’s three-year CAGR of 9.32 percent. The stock returned 393.43 percent over three years, compared to 53.39 percent for the Nifty Smallcap 100. For the fiscal year ending 31-Mar-2021, High Energy Batteries’s primary products/revenue segments are Batteries (Silver Zinc), Cells (Nickel Cadmium), and Other Operating revenues.

High Energy Batteries (India) Ltd. has declared an equity dividend of Rs 15.00 per share in the last 12 months. This equates to a dividend yield of 0.76 percent at the current share price of Rs 1978.95. The stock has returned over 200% since January 2021.

RACL Geartech

RACL Geartech

The stock returned 736.85 percent over three years, compared to 53.39 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned 736.85 percent, while the Nifty Auto delivered investors a -2.42 percent return. Racl Geartech Ltd., founded in 1983, is a Small Cap business in the Auto Ancillaries sector with a market capitalization of Rs 547.22 crore.

Racl Geartech Ltd. declared an equity dividend of Rs 1.00 per share in the last 12 months. At the current share price of Rs 507.55, this converts to a 0.2 percent dividend yield.

GNA Axles

GNA Axles

The stock returned 119.86 percent over three years, compared to 53.39 percent for the Nifty Smallcap 100. The company spent Rs 26.76 crore on investing operations, a decline of 78.22% year on year. Over a three-year period, the stock returned 119.86 percent, while the Nifty Auto delivered investors a -2.42 percent return.

GNA Axles Ltd. has issued an equity dividend of Rs 5.00 per share in the last 12 months. This calculates to a dividend yield of 0.59 percent at the current share price of Rs 848.55.

4 Auto and Auto Ancillaries Stocks Doubled Investors Money In 2021 And Paid Dividend

4 Auto and Auto Ancillaries Stocks Doubled Investors Money In 2021 And Paid Dividend

Stock Price in Rs YTD Dividend yield
Steel Strips Wheels 1,742 234.32% 0.11%
GNA Axles 848.35 216.84% 0.59%
High Energy Batteries 1,978.95 204.92% 0.76%
RACL Geartech 507 221.95% 0.20%

Disclaimer

Disclaimer

The views and investment tips expressed by authors or employees of Greynium Information Technologies, should not be construed as investment advice to buy or sell stocks. Investors should certainly not take any trading and investment decision based only on information discussed on GoodReturns.in We are not a qualified financial advisor and any information herein is not investment advice.



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