Category: Personal Finance

We will be back issuing cards by mid-September, huge potential to tap: Shalini Warrier, executive director, Federal Bank

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Shalini Warrier, executive director, Federal Bank

Federal Bank recently launched its credit card and has US-based Fiserv as its technology partner to enable digitisation of its end-to-end card issuance and processing cycle. Shalini Warrier, executive director of Federal Bank, speaks to Rajesh Ravi about cards and future plans. Excerpts:

What is the current status of the credit card launched by the bank?
We launched our credit card in May. We started with our staff and then in June, we started issuing them to our customers. It is a complete digital product with no paperwork involved. We had gone in with an exclusive partnership with Mastercard. Unfortunately, they had a restriction placed on them by the RBI and we stopped issuing cards in July. We are currently working with Rupay and Visa to certify ourselves. We will be back issuing cards by mid-September.

Do you have any target in numbers for the credit card ?
In numbers, currently, we are around 25,000 and geared to upscale. There is immense potential in our existing customer base itself. We have around 80 lakh debit cards, and the typical ratio in the market is that for every 10 debit cards, there is one credit card. Building card numbers is easy, but there are risks from both the credit and technology sides. We want to take it in a gradual manner.

Federal Bank is one of the few in India to enable tokenization with Google Pay.
The most important thing is that you can just tap and pay. You don’t have to take out your credit card or debit card. We are the first bank to enable tokenisation with both Visa and Mastercard. It is a safe and secure system for customers and you don’t have to store your card number. Literally, it anonymizes card numbers and reduces the risk of leak.

Buy now pay later (BNPL) is gaining acceptance across the world. Where does the bank stand regarding this?
We are one of the few banks that offer debit card EMI products. We now offer it to our existing customers. We have not gone to new-to bank customers, and will do that in near future.

Fiserve is your technology partner for credit card. Do we see new products from this tie-up?
We are working with them and their technology platform is very advanced. It is a long-term partnership. There are so many innovations in the credit card sector and they have a very agile technology. We are working with them on the credit card EMI facility, balance transfer facility, etc.

The bank is launching a credit card when youngsters are moving to fintech platforms.
Penetration of credit cards in the Indian market is still very low. According to research, customers reach out to credit cards when the ticket size is large. Youngsters use debit cards when the ticket size is small. That is a reason why we went for credit cards. This is true for even e-commerce platforms. Credit cards are here to stay.

Are you planning any new technology-based products for your customers?
We have a promising partnership with two neobanks – Fi and Jupiter. Youngsters who are digitally native, the salaried millennial who wants all the convenience of the banking and at the same time wants the safety and security of a bank are best served through collaboration with our fintech partners.

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6 Stocks That Have Turned Multibagger This Year 2021

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Happiest Minds Technologies

It is placed fourth in IT services, which include artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/augmented reality, and other disruptive technologies. The company Happiest Minds Technologies Ltd. was founded in 2011. Its share price currently is 1439.5. It currently has a market capitalization of Rs 21141.01 crore.

The stock has risen sharply after the firm stated in June that it is among India’s top 25 best companies to work for in 2021. Since the beginning of the year, the stock has returned a staggering 325 percent.

Another driver for the company’s continuous expansion is its management’s optimism. This year’s sales will increase, resulting in bigger profits.

JSW Energy

JSW Energy

JSW Energy and its subsidiaries are largely in the power generation business with their power assets. It is the holding company for the power division of the JSW group. Since the beginning of the year, the company’s stock has risen by as much as 270 percent.

The stock has benefited from an increase in FII holdings. Promoters owned 74.7 percent of the company as of June 2021, while FIIs owned 5.9%.

Another reason for the bullishness is that the corporation is continually reducing its debt.

Balaji Amines

Balaji Amines

Balaji Amines manufactures methylamines, ethylamines, speciality chemical derivatives, and pharmaceutical excipients. It is one of India’s leading producers of aliphatic amines.

It traded at Rs 938 on 1 January 2021, with a marketcap of Rs 30.4 billion, and now trades at Rs 3,437, with a marketcap of Rs 110.8 billion. Balaji Amines Ltd. has issued an equity dividend of Rs 4.00 per share in the last 12 months. The stock has increased by 266 percent since the beginning of the year.

Balaji Amines has a debt-to-EBITDA ratio of 0.62, which is quite low. In addition, the stock has outperformed the BSE 500 index over the last three years, one year, and three months.

Deepak Fertilisers

Deepak Fertilisers

Deepak Fertilisers and Petrochemicals’ hares have increased by 200 percent since the beginning of the year.

The government upped the fertiliser subsidy allocation by 147.8 billion dollars in May, bringing the total outlay for fiscal 2022 to 943.1 billion dollars.

The company has a modest debt load and has had five consecutive quarters of favourable earnings. Stock returned 74.22 percent over three years, compared to 45.99 percent for the Nifty Midcap 100. Deepak Fertilisers & Petrochemicals Corporation Ltd. has declared an equity dividend of Rs 3.00 per share in the last 12 months.

Gujarat Fluorochemicals

Gujarat Fluorochemicals

Gujarat Fluorochemicals’ stock has increased by 200 percent since the beginning of the year. Gujarat Fluorochemicals Ltd., founded in the year 2018, is a Chemicals Mid Cap business with a market capitalization of Rs 18,892.55 crore.

Refrigerant gases, caustic soda, chloromethane, polytetrafluoroethylene (PTFE), fluoropolymers, fluoro-monomers, specialty fluoro-intermediates, specialty chemicals, and allied operations are all part of the company’s business.

  • Share Price: Rs 1,509.25
  • Year to date Returns:161.10%

Alkyl Amines

Alkyl Amines

In India, Alkyl Amines is a prominent producer of aliphatic amines.

Chemical company stocks have been on a run for a while, and Alkyl Amines is one of them, with a return of 174 percent since the beginning of the year. Since then, the stock has increased by 12,640 percent. An annualised return of more than 60%.

The stock’s topline and operational earnings have grown 14 times and 65 times in the last decade, respectively.

The equity dividend of Rs 16.00 per share has been declared by Alkyl Amines Chemicals Ltd.

This translates to a dividend yield of 0.37 percent at the current share price of Rs 4286.40. When bonus/splits are taken into account, the dividend yield is 0.23 percent.

6 Stocks That Have Turned Multibagger This Year 2021

6 Stocks That Have Turned Multibagger This Year 2021

Company Price in Rs. Market Cap in Rs. YTD Returns
Happiest Minds Technologies 1,378.50 19.53TCr 307.42%
JSW Energy 227 37.43TCr 239.82%
Balaji Amines 3,310 10.76TCr 252.43%
Deepak Fertilisers 429 4.64TCr 170.83%
Gujarat Fluorochemicals 1,615.00 17.68TCr 179.53%
Alkyl Amines 4,180 21.49TCr 169.30%



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How Did The Gold Loan Segment Grow During The pandemic?

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Personal Finance

oi-Kuntala Sarkar

|

Amid the Covid-19 crisis, distress selling of gold has been popular in India for instant financial requirements. The gold loan segment has seen large-scale growth as people required liquidity in their hands due to job loss and low wages.

How Did The Gold Loan Segment Grow During The pandemic?

The World Gold Council is expecting that the gold loans market will grow at “an annual rate of 15.7% and reach 4.617 trillion rupees in the fiscal year ending March 2022, from 3.448 trillion rupees in the year ended March 2020.”

State Bank of India in its latest report stated that they have witnessed a 465.08% year-over-year growth in gold loans to 209.87 billion rupees for the previous FY’s 4th quarter ended March 31. Reserve Bank of India reported that outstanding loans against gold jewellery among all banks increased to 604.64 billion rupees in March 2021 from 185.96 billion rupees in January 2020. The outstanding loans against gold jewellery have witnessed a 225.15% positive growth from January 2020 to March 2021. Compared to that, total outstanding loans of all banks grew 8.29% during the same period.

V. P. Nandakumar, CEO and managing director of Manappuram Finance Ltd., a leading Indian non-banking financial company – popular in the segment has informed that their “gold loan assets grew by 24% during 2020.” The pandemic triggered the gold loan market to its next level.

It is certainly a positive touch for the gold loan segment. But it also indicates that people are being obliged to obtain loans by pledging their stored gold for immediate liquidity. As the gold prices are regularly falling now in August 2021, the gold loan segment might lose its pace, but would not lack popularity for sure. On the contrary, the rallying price of gold helped the segment to grow in the last year.

Gold loan is a segment of loan services that a customer can avail by the pledge of gold ornaments including gold coins sold (8-24 carats gold) by banks. Gold loans are available with low-interest rates across banks. Depending on the bank, the rates might vary approximately from 7% to 29%. Banks change their interest rates for gold loans depending on the global gold prices and other economic developments.

Story first published: Wednesday, August 11, 2021, 20:14 [IST]



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SBI Is Offering Gold Loan At A Discounted Interest Rate: How To Access Through YONO SBI Portal?

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Personal Finance

oi-Kuntala Sarkar

|

SBI offers various loans, including personal loans, home loans, auto loans, and gold loans. The largest public bank has recently revised its gold loan rates. The lowest interest rate is now at 8.25%. An additional 0.75% concession will be available up to 30th September 2021. So, the interest rate will be 7.50% if applied online till 30th September. The SBI gold loan services can be accessed through the YONO SBI portal with less paperwork and less processing time, easier and faster.

SBI Is Offering Gold Loan At A Discounted Interest Rate: How To Access Through

How to apply through YONO?

Like any other loan application, to apply for SBI gold loan, the customer will have to log in to the YONO portal – then go to the menu and select the loans option (third option). The last option will appear as – gold loan. After selecting that option,’Apply Now’ will appear on the page. Now the online application form will come with a few drop-boxes as – Residential Type, Occupation Type, and Net Monthly Income. Now the form will have to be filled with details like – ornament type, quantity, the exact carat of the gold, and net weight of the gold.

After filling in all the information, the customer will have to visit the branch physically with the ornament to be pledged, 2 photos, and the KYC documents.

SBI has fixed its maximum loan amount at Rs. 50.00 lakhs and minimum loan amount at Rs. 20,000. The processing fees of the service is 0.50% of the loan amount in addition to the applicable GST (Minimum Rs. 500 + applicable GST). Gold appraiser charges will have to be paid by the loan applicant. The loan’s tenure is 36 months (12 months in case of Bullet Repayment Gold Loan).

Gold loan options in other banks

Along with SBI, there are other banks that offer gold loan services. Some of the banks are presently carrying better interest rates than SBI. Punjab and Sind Bank offers it at 7%, Bank of India offers it at 7.30% and Canara Bank offers it at 7.35% interest rates for Rs. 5 lakhs loan with a tenure of 3 years. These are the top 3 lowest interest rate options presently available in India.

Non-banking financial companies (NBFCs) also offer gold loans but their rates are higher than the public sector banks. Usually, their interest rates start at 9.12%.

Story first published: Wednesday, August 11, 2021, 20:05 [IST]



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Indian crypto firms to command high valuation as big VC firms enter M&A rac, BFSI News, ET BFSI

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The anointing of CoinDCX, a crypto exchange, as the first Indian crypto unicorn, ironically happened on the day the government vowed in Parliament to eliminate crypto assets.

CoinDCX was valued at $1.1 billion in a funding round to raise $90 million, surprising many as it came amid huge regulatory risks and the government’ stiff opposition to cryptocurrencies.

However, experts say many such deals would be cracked as larger players from venture capital, private equity and pension funds are outplaying smaller boutique firms and family offices from participating in the latest innovations around crypto.

boutique investment firms and family offices are being elbowed out by big venture capitalists, private equity funds, and even some pension funds. He noted that smaller venture capital firms are unhappy about this trend.

“Let’s say they’re looking at a deal and they believe it’s worth $10 million, and you’re seeing large VCs come in and put a bid in for a higher valuation. This is happening a lot with very early-stage companies, say, $5 million to $20 million — the prices are being inflated, says Henri Arslanian, Crypto Leader at professional accounting and financial services firm PWC.

Valuations rocket

According to the State of Crypto M&A 2021 report, even though deal activity in 2020 increased only 10% from the previous year, total deal value doubled to $1.7 billion. This was primarily due to a handful of large acquisitions in the crypto exchange space, including the $400 million acquisition of Coinmarketcap by Binance and FTX-Blockfolio transaction for $125 million. This trend has continued this year, with Galaxy Digital acquiring Bitgo for $1.2 billion.

In July, derivatives exchange FTX’s valuation rose to $18 billion after the company raised $900 million from investors. In addition, the Digital asset platform Fireblocks raised $310 million to achieve a value of $2 billion.

Pricing challenges

There are some challenges in pricing cryptocurrency startups. They include how to discount for regulatory risk in such a nascent industry and how to assess the valuation of businesses. There is also an issue of the lack of companies to invest in since most firms in the crypto space are still small and not well developed yet.

“If the minimum ticket size of an investor is around $50 million, there aren’t that many companies that have that status yet. If you’re a large pension fund and you decided to make a crypto allocation, there are no more than two dozen companies around the world that are investable, looking for capital and could absorb $100 million,” Arslanian said.

According to Delhi-based data intelligence platform VCC Edge, VC firms poured in more than $176.9 million via 13 deals in the sector. This is a significant jump from $44 million in 10 deals that were cracked by VC firms in the previous year.

The investment accounts for 50% of all deals pertaining to crypto firms this year but industry insiders say more such deals are expected as per reports.



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2 Small Cap Stocks To Buy From Sharekhan For Gains Up To 30% Returns

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Arvind: Strong demand and recovery expected

Current market price Rs 96
Target price Rs 128

Sharekhan has retained a Buy on the stock with a revised price target of Rs 122. “We have reduced our earnings estimates for FY2022 to factor in COVID-led disruptions in the first quarter of FY2022 and broadly maintained it for FY2023 due to strong outlook in the textile business. In a stable business environment, the management is confident of doing sales volume of 90 million metres in the denim segment, 125 million-128 million metres in the woven segment and 48 million-50 million pieces in the garments business,” the brokerage has said.

Arvind: Buy the stock with a price target of Rs 128

Arvind: Buy the stock with a price target of Rs 128

“Increased revenue, steady improvement in Operating Profit Margins and reduction in debt would result in strong improvement in return ratios. The stock is currently trading at an attractive valuation of 5.7 times its FY2023E EV/EBIDTA. We maintain our Buy recommendation on the stock with a revised price target of Rs 122,” Sharekhan has stated.

Financial projections by Sharekhan for Arvind Ltd

FY 2021-22 FY 2022-23
Revenues Rs 5073 crores Rs 6788 crores
Net profits Rs -1 crores Rs 70 crores
EPS -0.05 Rs 2.71

Transport Corporation: Strong start for FY 2022

Transport Corporation: Strong start for FY 2022

Current market price Rs 421
Target price Rs 541

According to Sharekhan, Transport Corporation of India is expected to benefit from the logistics sector’s growth tailwinds led by GST (business moving towards the organised sector), impact of COVID-19 (increased outsourcing of logistics services to prevent supply chain disruptions in future), government thrust on Atmanirbhar Bharat (PLI incentives to increase domestic manufacturing in turn leading to increased logistics needs), and global supply chain re-alignments (India is expected to be one of the key beneficiaries of China +1 strategy for global manufacturers).

Logistics sector growth to drive Transport Corporation of India shares

Logistics sector growth to drive Transport Corporation of India shares

“We expect Transport Corporation of India to be on a long-term growth trajectory, driven by positive sectoral fundamentals and its inherent strengths and capabilities. We have revised our net earnings estimates for FY2022E and for FY2024E factoring higher Operating Profit Margins. We retain our Buy rating on the stock with unchanged SOTP based target of Rs. 541 owing to strong growth outlook and its favorable positioning,” the brokerage firm has said.

Financial projections by Sharekhan for Transport Corporation of Indoa

FY 2021-22 FY 2022-23
Revenues Rs 2,802.4 Rs 3,258.4
Net profits Rs 160.2 Rs 202 crores
EPS 20.9 Rs 26.30

Disclaimer

Disclaimer

Investing in stocks 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. Investors should take care because the markets have hit a new peak. Please consult a registered professional advisor before you take a decision.



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Fintechs attract record $2 billion in H1: Report

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The first half was a record with fund flows totalling USD 98 billion, compared to USD 121.5 billion in 2020.

Attracting a little over USD 2 billion in the first half this year, the domestic fintech sector has almost matched its total funding in the entire 2020, making it the best run ever, according to a report.

The record investments have been led by merchant platform Pinelabs’ USD 285 million from private equity funding round, USD 100 million venture capital funding rounds, Cred’s (USD 215 million), Razorpay (USD 160 million), Kreditbee (USD 153 million), Ofbusiness (USD 110 million) and Bharatpe (USD 108 million), a KPMG report released on Wednesday said.

Most of the money has flown into the digital banking space and the second biggest was insurtech, wherein the first half saw several such startups, including Turtlemint (USD 46 million), Renewbuy (USD 45 million), and Digit Insurance (USD 18 million) raising funds from the mid-sized private equity and venture capital funds, it added.

According to the report, four of the top ten deals in Asia were into domestic companies during the period under review. While the Noida-based Pinebabs’ USD 285 million was the third-largest in Asia, the USD 215 million in a Series D round by the Mumbai-based financial software firm Cred was the fourth largest in the continent. Bengaluru-based payments app

Razorpay’s raised USD 160 million in the series E round, making it the eighth largest, and lending app Kreditbee’s mopped up USD 153 million in series C round, the tenth-largest in Asia. The report, which did not give any sector-specific total numbers, also said the exits are going to increase in the country, both in terms of IPOs (Policybazaar has filed for a Rs 6,500 crore issue), while Paytm has filed for a Rs 16,500 crore issue, making it the largest-ever IPO in the country; and also in terms of acquisitions.

On the M&A front, fintechs could be targeted by banks, larger fintechs or even a fintech services conglomerate. The report expects leading fintech unicorns to try to tap into the strong capital market by looking at IPOs over the next 12 months. Banks are also keen to partner with fintechs, especially neo-banks and wealth tech platforms, as per the report.

Globally, too, the first half was a record with fund flows totalling USD 98 billion, compared to USD 121.5 billion in 2020.
Of the total investments, the Americas were the most robust with over USD 51 billion investments, followed by the EMEA region with USD 39.1 billion, but the Asia-Pacific region saw a dip to USD 7.5 billion from USD 13.4 billion a year ago.

Merger and acquisitions continued at a very healthy pace, accounting for USD 40.7 billion across 353 deals globally against USD 74 billion across 502 deals during 2020.

The report expects the second half to remain very robust in most regions. While the payments space is expected to remain a dominant driver of fintech investments, revenue-based financing solutions, banking-as-a-service models, and B2B services are expected to attract more investments.

Given the rise in digital transactions, and the subsequent increase in cyberattacks and ransomware, cybersecurity solutions will likely be high on the radar of investors, the report noted.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

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Sebi eases operational procedure to make fee payments, BFSI News, ET BFSI

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New Delhi: Easing operational procedure, markets regulator Sebi on Wednesday asked companies and merchant bankers to pay the fees for filing public issues through the payment gateway provided on its intermediary portal. The intermediaries can also generate an e-challan, which can be shared with the companies or entities for making the required payment. Once, the payment is made, the same will be updated on the Sebi’s intermediary (SI) portal, the regulator said in two separate notices.

They have been asked to refrain from transferring the Sebi fees directly to the bank account of the regulator or through offline modes since such payments bypass the existing SAP system and create reconciliation issues.

“It may be further noted that with effect from August 12, 2021, the fillings, where the payment has been made through modes other than the payment gateway of SI portal, may get delayed,” the regulator said.

This is applicable for making the payment of fees to Sebi in connection with the filings made under buyback of securities norms, ICDR (Issue of Capital and Disclosure Requirements) rules and SAST (Substantial Acquisition of Shares and Takeovers) Regulations.



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Gold Prices might Remain Weak in India in August: Good Buy For Investors

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Investment

oi-Kuntala Sarkar

|

The month of August is witnessing the lowest gold price in India in the last 4-months. This has led to some questions regarding the movement of the precious metal in the near term. Gold has always been considered to be a safe haven for investors in the long term. Last year proved a boon for gold investors, as the precious metal rallied on the back of the Covid-19 outbreak, as investors turned risk averse. Now prices are going down again, it is giving hope to the investors to put money in gold.

Gold Prices Might Remain Weak in India in August: Good Buy For Investors

Gold prices in India have been static on 11th August from yesterday at Rs. 4528 for 22 carat gold and Rs. 4628 for 24 carat gold. Most of the gold jewelry is made with 22 carat gold because of its better durability. In addition to that price, gold jewelry consists making charges and GST.

Gold price fluctuation chart in India

In India, prices started to fall on a daily basis since 31st July this year. August has seen a consistent fall in the prices. Only on 5th August prices saw Rs. 20 hike than its earlier day in 10 grams gold. Other than that period the gold prices fell sharply.

In Bangalore, the price for 22 carat gold is Rs. 43,350, in Mumbai, it is Rs. 45280, in Kolkata, is watching one of the highest prices at Rs. 45700 and in Delhi, it is selling at Rs. 45500. In most of the cities on 7th August, the gold prices fell around Rs. 1000 per 10 grams. Since then gold rates did not give any sign to be up. On 30th and 31st July, the prices went highest in recent times at Rs. 47380 for 10 grams 22 carat gold.

Why did the rates go down-field?

It all began on Friday last week, as the employment and wages data was out by the labor department in the USA, it showed that the country’s economy is getting better momentum. This triggered investors to think that the US Fed Reserve might taper the stimulus that earlier helped gold to reach higher in 2020. Investors started to fear that the commodities might lose sheen and investors may prefer Government. bonds. This led to international gold prices spiralling downwards, impacting Indian gold rates negatively.

In the global markets, before the employment data, gold was trading at $1816 an ounce, but, in the last 3 trading sessions has now fallen to $1730 an ounce. Interestingly, the CPI data in the US is due later today and if this points to inflation worries, bond yields will rally and push gold prices further lower.

Thus, much of the movement of gold depends on inflation, bond yields, economic growth and movement of the US dollar against a basket of currencies.

Dropping gold rates always creates ground for the investors to put more money in the yellow metal. Additionally, the recently issued sovereign gold bond scheme – V by the RBI is also giving one more opportunity to invest in gold now, at lower prices. No further economic development can keep the gold prices low in August in India.



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2 Stocks To Buy From The Midcap Space That Can Yield 32% Gains

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Whirlpool of India: 32% Gains Possible

Broking firm, Motilal Oswal believes that the stock of Whirlpool of India can hit a target price of Rs 2,650, which means more than 32% gains from the current market price of Rs 2,006.

Whirlpool of India current market price Rs 2006
Target price Rs 2650
Potential profits 32.00%

“While demand has quickly normalized for Consumer Electrical categories, offtake for Durables remained under pressure in 1QFY22. Whirlpool of India first quarter FY22 two-year revenue CAGR of -18% is better than Room AC players in our coverage universe (barring Lloyd’s) and provides us confidence that the company continues to see market share gains rather than general apprehensions of a risk to market share,” the brokerage has said.

Target price of Rs 2,650 on the stock

Target price of Rs 2,650 on the stock

Unlike peers, Whirlpool of India hasn’t resorted to aggressive cost cutting measures during COVID-19. As the economy recovers from the lockdowns, operating leverage should aid margin normalization by FY24E to 11.3%.

“The impact of commodity price inflation has been higher than our expectation, leading us to cut our FY22E/FY23E EPS by 10% each. Our target price on the stock stands at Rs 2,650 per share (earlier: Rs 2,900 per share) as we roll forward our valuation to Sep’23E EPS, but cut our target P/E to 50 times. We maintain our Buy rating on the stock of Whirlpool of India,” the broking firm has said.

Motherson Sumi: Likely gains of 30% possible on the stock

Motherson Sumi: Likely gains of 30% possible on the stock

Motherson Sumi Systems current market price Rs 219
Target price Rs 285
Potential profits 30.00%

Not encouraging financial performance

Not encouraging financial performance

According to broking firm Motilal Oswal Motherson Sumi 1QFY22 performance was impacted by exogenous factors in all its businesses (COVID in India and supply-side issues in overseas businesses), sharp copper price inflation, and non-recurring expenses at PKC.

“While the near-term outlook is murky due to supply chain uncertainties, Motherson Sumi is well-positioned to benefit from cyclical recovery in its key businesses as well as from the strong order book and improving efficiencies in SMRPBV,” Motilal Oswal has said in its latest report, following the quarterly numbers of the company.

“We cut our FY22E EPS estimates by 8%/3%, factoring in headwinds from the semiconductor shortage as well as copper cost inflation. Maintain Buy, with target price of Rs 285 (Sep’23-based SOTP),” the brokerage has noted.

Disclaimer

Disclaimer

Investing in stocks 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. Investors should take care because the markets have hit a new peak. Please consult a registered professional advisor before you take a decision.



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