Category: Personal Finance

Experts, BFSI News, ET BFSI

Personal Finance

[ad_1]

Read More/Less


Ahead of the government’s bill on cryptocurrency, there is no clarity on whether the government plans to ban cryptocurrencies or regulate them.

The bill intends to ban all private cryptocurrencies, with certain exceptions, to promote the use of the underlying technology of cryptocurrency. The much-awaited bill also aims to provide a framework for the creation of an official digital currency to be issued by the Reserve Bank of India. The government has already made it clear it has no plan to make cryptocurrency a legal tender.

What if govt bans cryptos

In the event government plans to ban cryptocurrencies, experts said any crypto ban could cause investors to move underground and obtain cryptos and trade in them illegally. Moreover, the P2P transactions do not fall under any legal ambit and hence, decentralised exchanges would continue to thrive regardless of the ban. Banning cryptos would not only prove a technological challenge for the government but also mean huge capital funds moving out of the country.

The Blockchain and Crypto Assets Council, the association of crypto exchanges in the country, released a statement reiterating the futility of the ban. A blanket ban on cryptocurrencies will encourage non-state players, thereby leading to more unlawful usage of such currencies, it said.

“The Council has always argued in favour of prohibiting the usage of private cryptocurrencies as a currency in India by law since usage as currency is likely to interfere with monetary policy and fiscal controls. On the other hand, the council has advocated their use only as an asset. The council believes that a smartly regulated crypto assets business will protect investors, help monitor Indian buyers and sellers, lead to better taxation of the industry, and limit illegal usage of cryptos,” BACC said in a statement.

Grey areas

Also, the government needs to define the scope and meaning of the term ‘private cryptocurrencies.’ Almost all the cryptocurrencies would be private except significant cryptocurrencies like Bitcoin and Ethereum that the miners collectively own, if the definition concerns ownership rights or anonymity of transactions.

However, except like Bitcoin, not all cryptocurrencies are store of value with there being utility tokens like Ethereum, Cardano.

Experts said the exchanges could be asked to follow stringent KYC/AML procedures to dissuade money laundering and terror financing activities.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , , , ,

SBI, Adani Capital sign pact for co-lending to farmers

Personal Finance

[ad_1]

Read More/Less


The Reserve Bank of India (RBI) had issued guidelines on co-lending scheme for banks and NBFCs for priority-sector lending, to improve credit flow towards underserved sectors of economy, the bank said in a release, adding that the model aims to give the borrower the best interest rate and better reach.

State Bank of India (SBI) on Thursday signed an agreement with Adani Capital, the non-banking finance company (NBFC) arm of the Adani Group, for co-lending to farmers for purchase of tractors and farm implement.

“This partnership shall help SBI to expand customer base as well as connect with the underserved farming segment of the country and further contribute towards the growth of India’s farm economy. We will continue to work with more NBFCs in order to reach out to maximum customers in far flung areas and provide last mile banking services,” said SBI chairman Dinesh Khara.

The Reserve Bank of India (RBI) had issued guidelines on co-lending scheme for banks and NBFCs for priority-sector lending, to improve credit flow towards underserved sectors of economy, the bank said in a release, adding that the model aims to give the borrower the best interest rate and better reach.

Registered in 2017, Adani Capital is a non-deposit taking systemically important NBFC with total assets under management (AUM) of Rs 1,292 crore as on March 31. The NBFC had 28,000 customers spread across 63 branches in 6 states including Maharashtra, Gujarat, Rajasthan, Karnataka, Tamil Nadu and Uttar Pradesh.

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.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , ,

Shriram City records highest-ever 2-wheeler loans of Rs 1,022 cr in November

Personal Finance

[ad_1]

Read More/Less


This was the second consecutive November when the NBFC has crossed the Rs 1,000-crore disbursement mark.

Shriram City Union Finance, the Chennai-based leading two-wheeler NBFC and part of Shriram Group, has disbursed the highest ever loans amounting to Rs 1,022 crore to 1.6 lakh two-wheelers in November 2021.

This was the second consecutive November when the NBFC has crossed the Rs 1,000-crore disbursement mark. The attractive financing offers during the festive season have stood out as one of the key drivers, with an additional push by the increase in people movement and recovery in rural demand leading to elevated disbursements. With the increasing demand for electric vehicles (EVs), the NBFC foresees a rise in the average loan ticket size which will help in touching new milestones, according to a company release.

Shriram City primarily caters to salaried and non-salaried buyers inclined towards the entry-segment two-wheelers having the highest demand across categories. The growing demand and intuitive use of AI-powered lending interfaces have triggered mass adoption by consumers and channels, thereby creating a network effect in further adding volumes. Followed by their milestone of financing over 1 crore two-wheelers, Shriram City Union is now the largest two-wheeler financer in India, offering app-based lending, paperless receipting, and contactless loans, it added.

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.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , ,

MYRE Capital helps investors to acquire Rs 31cr office space in Mumbai; its AUM crosses Rs 100cr, BFSI News, ET BFSI

Personal Finance

[ad_1]

Read More/Less


New Delhi, MYRE Capital, which facilitates investors to have fractional ownership of commercial properties, has raised Rs 31 crore from high net-worth individuals for the purchase of nearly 18,000 square feet of office space in Mumbai and announced that its asset under management (AUM) has crossed Rs 100 crore mark. Mumbai-based MYRE Capital, which is a tech-enabled fractional ownership real estate platform, has been formed by architect firm Morphogenesis.

“We have raised Rs 31 crore from investors for the acquisition of 17,817 square feet office space in Times Square office complex at Andheri, Mumbai. Our asset under management has crossed Rs 100 crore and we are targeting to reach Rs 250 crore by March 2022,” MYRE Capital Founder and Chief Executive Officer Aryaman Vir told PTI.

On its platform, MYRE Capital had offered to investors the office space, which is leased to co-working operator Smartworks and further sub-leased to IFTAS, a fully-owned subsidiary of the RBI.

The office space, which has been acquired from Ajmera Group, is expected to generate a rental yield of 10.5 per cent and an Internal Rate of Return (IRR) of 13.6 per cent to investors.

NRI investors, chartered accountants, lawyers, and high salaried professionals have mainly invested in this round, he said.

“Achieving Rs 100+ crore AUM in 10 months further pushes us to expand our horizon and to contribute significantly to democratising fractional ownership of commercial real estate,” Vir said.

For expansion, he said the company is looking for more properties in major cities for offering to investors.

“Office assets will continue to remain high on the investor radar as mobility improves and a comeback to the physical office environment picks up,” Vir said.

He noted that the concept of fractional ownership, while at its nascent stage in India, has shown a tremendous shift in mindset among HNI as well as retail investors.

In June this year, MYRE Capital raised Rs 50 crore from investors for the acquisition of nearly 47,000 sq ft prime office space at Magarpatta Cybercity in Hadapsar, Pune. It has also facilitated acquisition of 3,000 square feet at Maker Maxity, BKC, Mumbai.

“Our portfolio has reached nearly 70,000 square feet now,” Vir said.

As per the business model of MYRE Capital, properties are being acquired into an SPV (Private Limited Company) and proportional stakeholding of the SPV is allocated to the investors.

MYRE Capital serves as the manager of the investors, the property, and the SPV.

Through its platform, investors can track their investments in real-time and access all relevant documents.

The tenant continues to pay rental to the SPV on a monthly basis, which in turn gets distributed to all investors proportionately by MYRE Capital.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,

This Small Cap Chemicals Stock Hits Record High; Further Upside Of 29% Seen From All Time High Hit Today

Personal Finance

[ad_1]

Read More/Less


Investment

oi-Roshni Agarwal

|

The shares of Gujarat Fluorochemicals Ltd. In trade on December 2, 2021 spiked to a record high of Rs. 2387.8, gaining 16 percent as against the previous close of Rs. 2059.9 per share on the NSE. On the BSE, the stock hit a high of Rs. 2388.45 which is also the stock’s all time high price.

This Chemicals Stock Gains 16%; Upside Of 29% Seen From All Time High Hit Today

The gains in the refrigerant manufacturing company are seen after the brokerage firm ICICI Securities has initiated a ‘Buy’ on the scrip of Gujarat Fluorochemicals. In its report dated December 1, the brokerage stated that the company has good prospects ahead being the only manufacturer of fluoropolymers in the country. Also, the company is among the few entities outside China that manitain a huge portfolio within the segment.

“We initiate coverage on Gujarat Fluorochemicals (GFL) with a BUY rating and target price of Rs3,086 (upside 50% from CMP). GFL is in a sweet spot with its presence in fluoropolymers, demand for which is increasing driven by the new-age verticals of battery, solar panel and green hydrogen. GFL is in the process of expanding its capacity in fluoropolymers, which provides visibility on growth during our forecast period (FY21-FY24E)”, said the ICICI Securities report.

“GFL has laid out a bold capex plan of Rs25bn over the next three years. It is likely to see its earnings grow at 45.9% CAGR over FY21-FY24E (on low base though), and RoCE (post-tax) improve from 6.7% to 18% over the same period. Despite the strong earnings outlook, GFL is trading at a reasonable P/E multiple of 20x FY24 vs 42.1x for Navin Fluorine and 27.5x for SRF”, added the report.

Gujarat Fluorochemicals Limited (GFL) is an Indian Chemicals Company with more than 30 years of expertise in Fluorine Chemistry. GFL holds segment expertise in Fluoropolymers, Fluorospecialities, Refrigerants and Chemicals, catering to the material requirements of modern world. The company’s products find application in mobility, telecommunications, healthcare and architecture among others.

At 1:30 pm, the stock of GFL traded at a price of Rs. 2299, up over 11 percent.

GoodReturns.in



[ad_2]

CLICK HERE TO APPLY

Leave a comment

1 Capital Goods And 1 Paint Company Stock To Buy For 3 Months For Upto 12% Gains: ICICI Direct

Personal Finance

[ad_1]

Read More/Less


1. Greaves Cotton: Buy for 3 months for a target price of Rs. 170

For the engineering company, the brokerage firm has set out a target price of Rs. 170. The price at the time of recommendation has been Rs. 147. The stop loss suggested for the investment call is Rs. 131.

Considering the current pricing of Rs. 156.5 per share, the upside for potential investors in the scrip shall be 9 percent. Remember buying in the scrip is suggested at price levels of between Rs. 143-147.

Greaves Cotton technicals:

“The BSE capital good index continue to gain from strength to strength while maintaining higher high-low in all time frame after registering a resolute breakout from 13 year’s broader range in August 2021 exhibiting structural turnaround. One of the preferred pick within the midcap capital goods space is Greaves Cotton as it is currently placed at major value area and has already seen a healthy base formation. Volumes has also started rising in last two weeks with last two weeks volume almost double of 60 weeks average volume of 1.2 cr per week highlighting larger participation. The stock has recently registered a breakout above the triangular consolidation and is seen sustaining above the same signalling strength”, says the brokerage.

Fundamental view on Greaves Cotton

Weak Q2fy22 earnings amid disruptions

Standalone revenues at the firm declined YoY to Rs. 284 crore. Consolidated revenue however logged a surge of 13.4 percent YoY to Rs. 373.5 crore. E-mobility segment revenue growth more than doubled to Rs. 89.5 crore. Nonetheless, inspite of the revenue growth in EV segment, EBIT losses increased from Rs. 4.9 crore in Q2FY21 to Rs. 19 crore in Q2FY22 owing to higher contribution.  The company reported standalone adjusted PAT of Rs. 0.5 crore vs. Rs. 3.4 crore in Q2FY21. The company reported exceptional items worth Rs.10.7 crore during the period toward profit on sale of immovable properties & PPE, factory relocation expenses 

“E-mobility is expected to drive future growth (~12% of FY21 revenue).  Going forward, Transformation strategy to increase E-mobility and new-initiatives business share to drive long term growth and help transform and de-risk its business. Consolidation of manufacturing operations into Megasites to bring higher operational efficiencies and reduced fixed costs in the long run. We expect revenue, EBITDA to grow at CAGR of ~18.5%, 47.3%, respectively, in FY21-23E on a very low base amid pandemic impact”, said the research firm.

Greaves Cotton (Greaves) is a top diversified engineering company with a presence in automotive, nonautomotive, aftermarket, retail, electric mobility solution and finance.

2. Asian Paints: Buy Asian Paints for a price target of Rs. 3570

2. Asian Paints: Buy Asian Paints for a price target of Rs. 3570

For the paint company- Asian Paint, the brokerage anticipates a target price of Rs. 3570 that considering the last traded price of Rs. 3179.5, implies an upside of 12 percent.

For the scrip, the buying is suggested at levels of between Rs. 3160-3200 with a stop loss maintained at Rs. 2989.

Technicals on the scrip of Asian Paints

“The stock is in a well established uptrend and has generated stable returns for long term investors on a consistent basis over the past many years. It has seen decent correction over the last two months and approached maturity of price/time wise correction. It is seen rebounding from the value area of Rs.. 2900-3000. The current fall in crude oil prices also provides support to the bullish stance, thus providing a good entry opportunity. The stock is seen to offer favourable risk/reward ratio. We expect the stock to maintain positive bias and head higher towards Rs. 3570 levels as it is the 123.6% external retracement of the entire correction (Rs. 3505-2858)”, says the brokerage report.

Fundamental view on Asian Paints

“Despite loss of sales in FY21, Asian Paints reported strong volume growth of 13% making up the 38% volume loss that occurred in Q1 due to lockdown. This shows its brand strength and deep penetration. For FY21-24E, we believe the company will record revenue, PAT CAGR of 19%, 16%, respectively. The balance sheet condition of the company has remained robust with cash surplus status and RoE, RoCE of 25%, 30%, respectively. The dividend payout was higher at 56% in FY21”. The company is also seen to be the top beneficiary of increasing paint penetration in the country.

The company is the leading paint entity and indeed ranked as the top 10 decorative coatings company globally with consolidated turnover of around Rs. 22000 crore in the FY21.

Disclaimer:

Disclaimer:

Disclaimer The stocks listed are taken 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.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Shriram City Union Finance disburses highest ever loan worth Rs 1,022 cr in Nov, BFSI News, ET BFSI

Personal Finance

[ad_1]

Read More/Less


New Delhi, Dec 2 Shriram group’s two-wheeler financing arm Shriram City Union Finance disbursed the highest ever loans worth Rs 1,022 crore in November, the company said on Thursday. Shriram City Union Finance has disbursed the highest ever loans amounting to Rs 1,022 crore for 1.6 lakh two-wheelers in November 2021. This is the second consecutive November when the NBFC has crossed the Rs 1,000 crore disbursement mark, the company said in a release.

The Chennai-based non-banking finance company primarily caters to salaried and non-salaried buyers inclined towards the entry-segment two-wheelers, having the highest demand across categories.

“The attractive financing offers during the festive season have stood out as one of the key drivers, with an additional push by the increase in people movement and recovery in rural demand leading to elevated disbursements.

“With the increasing demand for Electric Vehicles (EVs), the NBFC foresees a rise in the average loan ticket size, which will help in touching new milestones,” Shriram City Union Finance said.

The growing demand and intuitive use of AI-powered lending interfaces have triggered mass adoption by consumers and channels, thereby creating a network effect in further adding volumes, the company said.

“Followed by their milestone of financing over one crore two-wheelers, Shriram City Union Finance is now the largest two-wheeler financer in the country, offering app-based lending, paperless receipt, and contactless loans,” it added.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , ,

Motilal Oswal Recommends Buying This Financial Service Stock For +29% Upside

Personal Finance

[ad_1]

Read More/Less


Target Price

The Current Market Price (CMP) of Max Financial Services is Rs. 968. The brokerage firm, Motilal Oswal has estimated a Target Price for the stock at Rs. 1250. Hence the stock is expected to give a +29% return, in a Target Period of 1 year.

Stock Outlook
Current Market Price (CMP) Rs. 968
Target Price Rs. 1250
1 year +29.00%

Company performance

Company performance

About Max Financial Services, Motilal Oswal informed, “Agency channels are enabled with digital assets to reduce the onboarding time for agents by 50%. Its focus remains on cross-selling by building digital integration, which has improved to 31% in FY21 v/s 27% in FY20. Its overall goal is to be a leading digital-first Life Insurer over the next 12-18 months. The company is looking to increase sales by 7-9x over the next 5 years.” In FY21, the company’s ~16% of the customers were acquired online. Their proprietary offline, grew at 17% CAGR over the past 5 years.

Comments by Motilal Oswal

Comments by Motilal Oswal

Motilal Oswal said, “We estimate 21% APE CAGR over FY21-24E, with VNB margin sustaining at 25-26%. This would enable 24% VNB CAGR over FY21-24E, while operating RoEV would sustain ~22%. We maintain our Buy rating with an unchanged Target Price of Rs. 1,250 per share (3.6x Sep’23E EV with a 20% holding company discount).”

About the company

About the company

Max Life has been at the forefront of driving product innovation by launching various firsts in the industry. The management’s focus is on using AI-built technology to move 70% of its workload to the Cloud by FY24.

Disclaimer

Disclaimer

The above stock was picked from the brokerage report of Motilal Oswal. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Buy This Appliances Stock For +16% Return, In 6 Months: HDFC Securities Recommends

Personal Finance

[ad_1]

Read More/Less


Target Price

The Current Market Price (CMP) of Butterfly Gandhimathi Appliances Ltd. is Rs. 874.85. The brokerage firm, HDFC Securities has estimated a Target Price for the stock at Rs. 1016. Hence the stock is expected to give a 16.13% return, in a Target Period of 6 months.

Stock Outlook
Current Market Price (CMP) Rs. 874.85
Target Price Rs. 1016
6 months 16.13%

Company performance

Company performance

Butterfly Gandhimathi Appliances Ltd. (BGAL) reported the highest quarterly revenue and profitability in Q2FY22 with revenue at Rs. 403.1 crore, +39.6%/179.2% YoY/QoQ. Kitchen appliances and Cooker/Cookware both saw a robust increase in revenue, up 39.1% and 62.7% YoY respectively. On the back of such strong topline numbers, the company revised its revenue growth guidance for FY22 from ~10-15% to ~20-25%. The company reported an EBITDA of Rs. 46.5 crore (up 35.7% YoY).

Comments by HDFC Securities

Comments by HDFC Securities

According to HDFC Securities, “BGAL has a strong foothold in the Southern market and an extensive distribution comprising 500+ exclusive distributors catering 25,000+ retail points across India. We expect it to maintain a RoCE of 30%+ in FY24E. We expect revenue and earnings to grow at CAGR of 17.7% and 34.4%, respectively, over FY21-24E.”

About the company

About the company

Butterfly Gandhimathi Appliances Limited (BGAL) is a leading manufacturer of Kitchen and Electrical Appliances, and it will be one of the biggest beneficiaries of the continued growth in the domestic kitchenware segment. The strong historical patronage of the “Butterfly” brand, continuous innovations, and premium quality products will support revenue growth.

Disclaimer

Disclaimer

The above stock was 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.



[ad_2]

CLICK HERE TO APPLY

Leave a comment

Sensex jumps 214 points in early trade; Nifty tops 17,220, BFSI News, ET BFSI

Personal Finance

[ad_1]

Read More/Less


MUMBAI: Equity benchmark Sensex jumped over 214 points in early trade on Thursday, tracking gains in index majors HDFC twins, Reliance Industries and Maruti amid largely positive cues from Asian peers.

The 30-share index was trading 214.43 points or 0.37 per cent higher at 57,899.22 in initial deals. Similarly, the Nifty rose 53.95 points or 0.31 per cent to 17,220.85.

M&M was the top gainer in the Sensex pack, rising 2.38 per cent. HDFC, PowerGrid, Titan, Sun Pharma, Maruti, HCL Tech and Reliance Industries, were among the other gainers.

On the other hand, L&T, ICICI Bank, Nestle India, Axis Bank and Tech Mahindra were among the losers.

In the previous session, the 30-share BSE Sensex rallied 619.92 points or 1.09 per cent to close at 57,684.79. Similarly, the NSE Nifty surged 183.70 points or 1.08 per cent to 17,166.90.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul were trading with gains in mid-session deals, while Tokyo was in the red.

Stock exchanges in the US ended with losses in the overnight session.

International oil benchmark Brent crude rose 1.07 per cent to USD 69.61 per barrel.

Meanwhile, India’s merchandise exports rose 26.49 per cent year-on-year to USD 29.88 billion in November on better performance by key sectors, while the trade deficit hit a record high of USD 23.27 billion as imports of crude oil and gold spiked.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 2,765.84 crore on Wednesday, as per exchange data.



[ad_2]

CLICK HERE TO APPLY

Leave a comment , , , , , , , ,
1 … 3 4 5 6 7 … 387