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The RBI had barred Diners Club from on-boarding new customers from May 1, through an order dated April 23. The ban followed the card network’s failure to comply with the central bank’s order/norms pertaining to data localisation.
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The brokerage firm has given a buy on Prism Johnson for gains of 17.30 percent considering the target price set at Rs. 160. The buy has been given for a period of 3 months, while its last closing price has been at Rs. 136.40 per share. Stop loss suggested for the trade is Rs. 121.
Prism Johnson Limited (Formerly Prism Cement Limited) is one of India’s leading integrated Building Materials Company, with a wide range of products including cement, ready-mixed concrete, tiles and bath products.
Technical observations:
1. Prism Johnson is in an intermediate uptrend as it has been making higher tops and higher bottoms for
the last several months.
After a period of consolidation, the stock broke out of its range on Monday owing to higher than average volumes.
2. Positive signals are being given out for the stock as the counter trades above the 20 day and 50 day SMA. Also weekly indicators like the 14-week RSI are in rising mode. This suggests of an upmove trend to sustain.
The company is bullish on the counter for up to 22 percent gains and has set a target price of Rs. 2600 to be realized in 3 months time frame. The stop loss recommended is Rs. 1950.
Dalmia Bharat is into cement business since the year 1939 and has a capacity of 3 3Mnt. The company is a pioneer in super speciality cement that is used by oil wells, railway sleepers and Air Strips.
Technical observations:
The stock has been seeing immediate uptrend and has been hitting higher tops and higher bottoms since last few months.
After hitting the intermediate lows of Rs. 1842 levels, the stock has been gaining ground and reversed its recent downtrend.
” Technical indicators are giving positive signals as the stock is trading above the 20 day and 50 day
SMA. Daily momentum indicators like the 14-day RSI have bounced back from oversold levels and are
in rising mode now. This augurs well for the uptrend to continue”, says HDFC securities report.
The above stocks are picked from the brokerage report of HDFC Securities. 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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“In view of the satisfactory compliance demonstrated by Diners Club International Ltd. with the Reserve Bank of India (RBI) circular dated April 6, 2018 on Storage of Payment System Data, the restrictions imposed, vide order dated April 23, 2021, on on-boarding of fresh domestic customers have been lifted with immediate effect,” the regulator said in a statement.
In FY22, India’s banking regulator had barred three US-based card networks namely MasterCard, American Express and Diners Club International from doing new card business in India as these companies have been flagged as non-compliant with local data storage rules by RBI.
While New York-headquartered American Express and Illinois-based Diners Club were prohibited by the central bank on April 23 from issuing new cards on their respective networks. On July 14, Mastercard – one of the world’s leading card operators – was also barred from doing new card business in India owing to similar non-compliance.
As per RBI’s data localisation rules introduced first in April of 2018, payment operators in India must store data in a server physically present in India. Additionally, these entities are required to submit System Audit Report (SAR) conducted by a CERT-In empanelled auditor.
The Indian central bank had tightened data storage norms for PSOs in India through a notice issued to chief executives of all such licensed companies in India.
As per the rules introduced in March, all PSOs from FY22 were mandated to submit detailed “compliance certificates” to the central bank twice a year signed by the respective chief executives or managing director, confirming adherence to all RBI regulations around security and storage of payment data.
These requirements are over and above the ones mandated by the central bank in April of 2018 where it asked all PSOs to submit board-approved annual System Audit Report (SAR) by CERT-empaneled auditors.
These companies were also asked to submit a one-time compliance report with data localization norms which mandate the data relating to payments in India will be stored in a server physically present in the country, by December of 2018.
RBI had asked these certificates to be submitted on April 30th and October 31st of every year.
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SBI Multi Asset Allocation Fund Direct-Growth is a medium-sized fund in its category, with assets under management (AUM) of 460 crores. The fund has a 1.0 percent cost ratio, which is greater than most other Multi-Asset Allocation funds. The fund now has a 38.30 percent equity allocation and a 34.08 percent debt allocation.
SBI Multi Asset Allocation Fund Direct-Growth returns are 22.00 percent over the last year. It has returned an average of 11.69 percent per year since its inception.
SBI Equity Hybrid Fund Direct Plan-Growth is a medium-sized fund in its category, with assets under management (AUM) of Rs 47,470 crores. The scheme will invest in a diversified portfolio of high-growth shares, with the rest of the money going into fixed-income assets to reduce risk. The fund’s expense ratio is 0.9 percent, which is comparable to the expense ratios charged by most other Aggressive Hybrid funds. The fund now has a 73.79 percent stock allocation and a 21.94 percent debt exposure.
SBI Equity Hybrid Fund Direct Plan has a 1-year growth rate of 44.78 percent. It has had an average yearly return of 16.58 percent since its inception. The NAV of SBI Equity Hybrid Fund for Nov 03, 2021 is 221.02.
SBI Debt Hybrid Fund Direct-Growth has assets under management (AUM) of 4,122 Crores, making it a medium-sized fund in its category. The scheme aims to give investors the option of investing primarily in debt and money market securities, with a secondary focus on equities and equity-related instruments. The fund’s expense ratio is 0.58 percent, which is lower than the expense ratios charged by most other Conservative Hybrid funds. The fund now has a 24.27 percent equity allocation and a 69.64 percent debt allocation.
The 1-year returns on SBI Debt Hybrid Fund Direct-Growth are 20.53 percent. It has returned an average of 10.39 percent every year since its inception.
SBI Arbitrage Opportunities Fund Direct-Growth is a medium-sized fund in its category, with assets under management (AUM) of 4,683 crores. It will invest in stocks, with a corresponding investment in equity derivatives to offset the stock investment. The fund’s fee ratio is 0.42 percent, which is comparable to the expense ratios charged by most other Arbitrage funds. The fund currently has a 0.39 percent equity allocation and a 29.97 percent debt allocation.
The 1-year returns on SBI Arbitrage Opportunities Fund Direct-Growth are 4.27 percent. It has returned an average of 6.81 percent per year since its inception.
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Moreover, the scheme will offer a maximum of 90% financing on the total cost of the vehicle, which includes insurance and registration, it added.
Customers can also opt for EMI starting with Rs 1,502 per lakh on a 7-year repayment period, the company said.
“This partnership is in line with our #FinancEasy Festival, wherein we are collaborating with multiple finance partners across India to make ownership of cars accessible, as well as a hassle-free process for the customers and thereby adding to the celebrations of this festive season,” Tata Motors Vice President, Sales, Marketing & Customer Care, Passenger Vehicle Business Unit Rajan Amba said.
BOI General Manager – Retail Business Rajesh Ingle said Bank of India has reoriented the banking services with retail customer as focal point by designing products that are aligned to customer needs.
“Our vehicle loan products with lowest rate of interest is one such product. Bank’s tie-up with Tata Motors will be win-win for customers in the sense that they can access best in class personal mobility solution with the best finance option from Bank of India,” he added.
The offers through the partnership will be applicable on the New Forever range of conventional cars and SUVs as well as on EVs for personal segment buyers across the country, the statement said.
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“KKR has consistently demonstrated its strong commitment to India, and the firm today stands out as one of the highest-caliber investors in innovative, market-leading companies in the country and worldwide. I am excited by the opportunity to work alongside Gaurav and the broader KKR team and welcome the chance to leverage my experience to help Indian businesses elevate and meet their full potential,” said KV Kamath.
KV Kamath brings more than five decades of experience leading large Indian businesses. He has served as the first President of the New Development Bank, established by the BRICS nations, from its founding in 2015 until 2020.
“We are pleased to welcome K.V. as a senior advisor to our team in India, and are excited to learn from his terrific insights as we continue to invest in the growth of India. KV has a truly outstanding track record of working with different stakeholders while building world-class businesses. He joins at an exciting time for KKR in India, and I am confident of the value that he will bring to our franchise and businesses,” says Gaurav Trehan, Partner & CEO of KKR India.
Kamath has also served as the chairman of ICICI Bank and Infosys Ltd. In October, he was appointed as the chairperson of National Bank for Financing Infrastructure and Development, which was created to support the development of long-term infrastructure financing in the country.
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For a deposit amount of less than Rs 2 Cr, the bank is now offering an interest rate of 3.40% to 5.50% on deposits maturing in 7 days to less than 10 years. With effect from 1st November 2021, Karnataka Bank is offering the following interest rates on fixed deposits to the general public.
| Tenure | Interest Rate (% p.a) |
|---|---|
| 7 days to 45 days | 3.4 |
| 46 days to 90 days | 4.9 |
| 91 days to 364 days | 5 |
| 1 year to 2 Years | 5.1 |
| Above 2 Years to 5 years | 5.4 |
| Above 5 years to 10 years | 5.5 |
| Source: Bank Website. W.e.f. 01st November 2021 |
Senior citizens will continue to get an additional rate of 0.40% on their deposits maturing in 1 to 5 years and 0.50% extra over the general rate for the tenure of 5 to 10 years. With effect from 1st November 2021, Karnataka Bank is offering the following interest rates on fixed deposits to senior citizens.
| Tenure | Interest Rate (% p.a) |
|---|---|
| 1 year to 2 Years | 5.5 |
| Above 2 Years to 5 years | 5.8 |
| Above 5 Years to 10 years | 6 |
| Source: Bank Website. W.e.f. 01st November 2021 |
On NRE Rupee Term Deposits of less than Rs 2 Cr, the bank has also revised its interest rates on 01.11.2021 which are as follows.
| Tenure | Interest Rate (% p.a) |
|---|---|
| 1 to 2 Years | 5.1 |
| Above 2 Year to 5 Years | 5.4 |
| Above 5 Year to 10 Years | 5.5 |
| Source: Bank Website. W.e.f. 01st November 2021 |
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Return of equity calculates the net profit realized as a percentage of shareholder’s equity. The financial ratio is arrived at by dividing net profit by net worth which can be equity plus reserves and retained earnings.
Low or high RoE which is good for investors
High RoE signifies that the company is able to deploy the shareholders’ capital and can provide substantial returns and as per analysts stocks offering an RoE of over 20 percent can be considered as good investments. So now as we know as stock picking can be done employing this technique, here are the pharma names with RoE over 20 percent and zero debt.
This company is innovation focused bulk drug, intermediates as well as specialty chemicals company. The company has over 3 decades experience and is an API based pharma company. The company’s API portfolio comprisestherapeutic categories, such as Pain Management, Anti-diabetic, Anti-hypertensive, and Anti-convulsant, amongst others.
The company’s market cap is at Rs. 3257 crore and last quotes at a price of Rs. 555 per share.
The company’s RoE is at a staggering 43 percent and a net zero debt.
The company’s RoE stands at 27.89 percent while its debt to equity has been zero. Abbott India is a healthcare entity discovering, developing, manufacturing and marketing several products in areas including Anesthesia, Animal Health, Anti-Infectives, Cardiovascular, Diabetes Care, Hematology, Immunodiagnostics and Clinical Chemistry, Immunology, Metabolics, Molecular, Neuroscience, Nutrition, Oncology, Pain Care, Point of Care, Renal Care, Vascular, Virology.
Abbott for the period ending June of FY22 posted Rs. 195.76 crore net profit as against Rs. 152 crore in the March quarter.
The company has been consistent in maintaining itself a zero debt company since the year 2019, while its RoE is at 24.78 percent.
This is the only publicly listed Indian pharmaceutical company with a pure-play domestic branded formulations business model. The company since inception in 2007 has primarily focused on chronic and sub chronic lifestyle related therapies. The company’s revenues exceeded Rs. 1,200 crore for the year ended March 2021.
The stock’s latest market capitalization is at Rs. 10,786 crore.
The stock’s RoE is 23.90 percent with debt to equity continuing to be zero for the last two years. The company is a large cap scrip with 1,31,307 crore.
The Hyderabad based company is into manufacturing of Generic APIs, Nutraceutical Ingredients and offers Custom Synthesis of APIs to Big Pharma. The company leads in APIs, Intermediates and Registered starting materials offering high quality products with the highest level of compliance and integrity to over 95 countries.
The company has recently been recognized as the third top manufacturer of APIs globally.
Other than the above, Astrazeneca, Gland Pharma, Glaxo Pharma, Ajanta Pharma, Sanofi, Procter and Gamble Health are all debt free pharma firms with zero debt.
These are two metrics based on a company’s fundamentals can be decided upon and can offer an opportune avenue of investment, nonetheless, readers should not consider it to be an investment advice into the above listed pharma scrips.
GoodReturns.in
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The year-on-year jump in net profit for the automaker is largely because of a more than Rs 1,400 crore asset impairment charge taken by the company in the year-ago quarter. In the current quarter, M&M took a Rs 255 crore asset impairment charge, the company said.
The tractor manufacturer reported a 14.7 per cent on-year growth in revenue from operations to Rs 13,305.4 crore for the reported quarter, which was also above Street’s estimate of Rs 12,428.9 crore.
“We have seen significant all around improvement in our performance this quarter. Our strong show in the Auto and Farm sectors was complemented well by the improved performance in the group companies,” said Anish Shah, managing director and chief executive officer at M&M.
While the topline and bottomline of the company were impressive, its operating performance suffered due to surge in input costs.
M&M’s operating profit for the reported quarter slumped 19 per cent YoY to Rs 1,660 crore largely because of a 40 per cent spike in cost of raw material used by the company. The tractor maker’s margins shrank 527 basis points on year to 12.47 per cent in the reported quarter.
“Commodity prices have impacted our margins in both the Auto and Farm business, but our focus on cost management and optimisation has helped mitigate some of the impact,” said Manoj Bhat, group chief financial officer at M&M.
M&M said that its automotive segment saw robust demand despite global semiconductor shortage hampering production in the quarter. The company added that the segment’s booking pipeline was healthy and there is buoyant demand for its products.
The farm business reported its second best performance in history aided by a 190 basis points improvement in market share for the tractor business, M&M said.
Shares of M&M were up 2.3 per cent at Rs. 878.9 on the National Stock Exchange.
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According to the press release, the fund aims to invest in stocks that show growth or defensive characteristics. The IIFL Quant Fund will have periodic rebalancing and review. The investment objective of the fund is to generate long term capital appreciation for investors from a portfolio of equity and equity-related securities based on Quant theme. Quality stocks will be screened, based on quantitative portfolio construction methods and techniques.
The fund house also says that as this fund is based on quantitative rules, it is mainly driven by investment process over discretion, thereby avoiding market cap and behavioural biases. Further, the methodology and portfolio construction of the fund are back-tested across time periods and validated.
“The Passive+ approach that the fund follows is based on multiple quantitative factors that have been back-tested and historically proven to improve stock selection capabilities. The model has a fundamental basis with parameters clearly laid out and relies on a defined process while applying the same across a set of comparable stocks,” says Manoj Shenoy, CEO, IIFL AMC.
“Based on a quantitative model, the strategies of the IIFL Quant Fund are fully systematic and rule-based and would have additional filters for selecting quality momentum stocks. The fund universe will include the Top 200 stocks by market cap and liquidity,” says Parijat Garg, Fund Manager, IIFL AMC.
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