In intra-day trading on Friday, shares of IRB Infrastructure Developers (IRB Infra) soared 16% to a new three-year high. On the heels of the company’s fund-raising ambitions, the stock has soared by as much as 39% in the last three days. The shares of a company that builds roads and highways was trading at their highest level since May 2018.
IRB Infra said on Thursday that a meeting of the company’s board of directors will be conducted on Tuesday, October 26, 2021, to review and approve a fund-raising proposal.
The company stated that it plans to raise money through the sale of equity shares, bonds, debentures, non-convertible debt instruments/ securities, and/or any other instruments/ securities, including preferential issue on a private placement basis, qualified institutions placement, rights issue, or any other method or combination thereof, including determining the issue price as permitted by applicable laws.
IRB Infra has increased by 153% since June 2021, when the HDFC Mutual Fund bought a 1% interest in the company on the open market.
“As of March 31, 2021, our order book had grown to Rs 146 billion, ensuring good visibility for the EPC segment for the foreseeable future, while our net debt to equity ratio remained at 1.9x,” the company said. The business stated, “We are well positioned to win a large number of BOT projects in upcoming bids, ensuring a consistent rise in execution as well as our Toll revenues in the long run.”
IRB Infrastructure Developers Ltd., founded in 1998, is a Mid Cap business in the Infrastructure sector with a market cap of Rs 9,199.20 crore. Today, the stock reached a new 52-week high. The stock returned 103.66 percent over three years, compared to 90.6 percent for the Nifty Midcap 100.
In the fiscal year ended March 31, 2021, the company spent 31.94 percent of its operating revenues on interest charges and 4.94 percent on labor costs. The stock returned 103.66 percent over three years, compared to 90.6 percent for the Nifty Midcap 100. Over a three-year period, the stock returned 103.66 percent, while the Nifty Infrastructure index returned 82.38 percent.
Parameter
Values
Market Cap (Rs. in Cr.)
9935.49
Earning Per Share (EPS TTM) (Rs.)
5.08
Price To Earnings (P/E) Ratio
55.68
Book Value Per Share (Rs.)
75.45
Price/Book (MRQ)
3.75
Price/Earning (TTM)
55.68
ROCE (%)
5.94
PAT Margin
6.85
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Story first published: Friday, October 22, 2021, 12:15 [IST]
Shoppers Stop- Festive fervour to accelerate revenue trajectory
ICICI Direct expects shares to rise from their current market price of Rs 330, with an upside potential of 21%, and has set a target price of Rs 400 for the stock.
Shoppers Stop has 80 department stores and 160 beauty format stores with a total floor space of 4.0 million sq ft and locations in 47 cities.
Q2FY22 Results of Shopper Stop
Consumer sentiment returned dramatically after store limitations were eased, and revenue quickly recovered to 75 percent of pre-Covid levels.
Revenue increased by 116 percent year over year to Rs 631.6 crore on a favourable basis.
SSL was able to save Rs. 62 crore in operational costs (vs. Q2FY20 levels).
To some extent, this reduced quarterly cash burns.
PBT losses were Rs 4.1 crore in Q2FY21, compared to Rs 136.5 crore in Q2FY20. The company reported a negative FCF of Rs 65 crore in H1FY22.
Outlook and valuation on Shopper Stop Stock
“The stock price has underperformed broader indices in the last five years due to weak SSSG, muted store addition pace and lower share of private label brands. With the new management team in place, we expect SSL to revive its revenue trajectory and margin profile. Reasonable valuations prompt us to be positive on the stock and maintain BUY. Target Price and Valuation: We value SSL at Rs 400 i.e. 8.5x FY23E EV/EBITDA, the brokerage has said.
Key triggers for future price-performance:
The festive season is off to a strong start, with sales in the East regaining more than 100 percent, followed by the North.
We believe the incoming MD (previous Westside CEO) will bring his expertise in private label brands to the table and will focus on increasing private label share.
In FY22E, the business plans to increase space by adding 10 stores.
SSL implemented cost-cutting actions in FY21, with 45 percent expected to be sustainable. With lower breakeven sales for new stores, this would help margins in the future.
Tata Communications- Steady performance; one-offs aid EBITDA, PAT
ICICI Direct expects shares to rise from their current market price of Rs 1427, with an upside potential of 21% and has set a target price of Rs 1725 for the stock.
With data segment revenues dropping 2.2 percent YoY (on a high base) but showing modest 1.1 percent QoQ growth, the topline at Rs 4174 crore was down 5.2 percent YoY but up 1.7 percent QoQ.
Assisted by one-off $ 50 crore for timing difference led personnel cost-benefit and reversal of charges, the consolidated EBITDA margin was 26.7 percent (up 36 basis points YoY, 263 basis points QoQ). Due to one-time margin gains and a lower tax rate, PAT of Rs 425 crore increased 10.6% YoY and 43.7 percent QoQ.
Target and Valuation
“Share price has grown at ~18% CAGR over the past five years. We maintain BUY on the company. Target Price and Valuation: We value TCom at a target price of Rs 1725,” the brokerage has said.
Key triggers for future price-performance:
Platforms such as a) cloud, edge, and security b) next-generation connectivity c) NetFoundry d) MOVE & IoT will drive growth, with each having a significant market size growth potential of 15-25 percent CAGR in the next four to five years.
In the entire data segment, we forecast a 7% revenue CAGR in FY21-23E, led by likely acceleration in growth from H2FY22 onwards. Overall margins are expected to be 25.5 percent in FY23, up from 24.9 percent in FY21. Deleveraging will be aided by strong cash flow generation.
Gateway Distriparks – Primed for next leg of growth
ICICI Direct anticipates the stock to grow from its current market price of Rs 264, with a 33 percent upside potential, to a target price of Rs 350.
Container train operators (CTO), cold chain logistics, and container freight terminals are just a few of the logistics verticals where GDL has a strong presence.
Q2FY22 Results
Rail margin held steady at Rs 9200+/TeU | Revenues up 28 percent year on year to Rs 336 crore (46 percent rail volume growth)
EBITDA increased by 40% year over year to Rs 91 crore, with margins of 27.1 percent (up from 24.9 percent in Q2FY21).
As a result, PAT increased to Rs 47 crore from Rs 4 crore in Q2FY21.
Target and Valuation
“Commercialisation of DFC has led a peculiar tailwind for the business, led by higher asset turnover due to better turnaround times for the rail segment (27 hours from Gujarat based ports to NCR). It entails higher spare capacity from existing infrastructure and better return ratios. We remain positive on the stock and maintain our BUY recommendation. Target Price and Valuation: We value the stock at Rs 350 i.e. 23x P/E on FY23E EPS,” the brokerage has said.
Key triggers for future price-performance:
With payments to NCD holders and renegotiation of better interest yields with loan holders, debt and interest expense are likely to drop significantly from FY23E onwards.
In the medium term, management intends to achieve 10000/TeU margins while also achieving a 1 lakh TeU/quarterly rail volume run-rate.
This would result in a high level of FCF generation (>9% yield in FY23E).
Disclaimer
The above 3 stocks to buy are picked from the report of ICICI Securities. Please note investing in stocks is subject to market risks and one needs to be cautious at this point of time as markets have gone-up sharply. Neither the author, nor Greynium Information Technologies Pvt Ltd would be responsible for losses incurred based on a decision made.
By total sales for the year, HDFC Bank is India’s largest private bank. As part of the Reserve Bank of India’s (RBI) deregulation of the Indian Banking Industry in 1994, it was one of the first to get ‘in principle’ clearance to open a bank in the private sector. The top Bank Nifty constituent is HDFC Bank.
Over the last three years, net profit per employee has been steadily increasing, with a 15.43 percent increase last year. Stock returned 67.72 percent over three years, compared to 75.82 percent for the Nifty 100 index. Over a three-year period, the stock achieved a 67.72 percent return, compared to 57.53 percent for the Nifty Bank. HDFC Bank Ltd. is a financial firm that was founded in 1994. (having a market cap of Rs 928,243.06 Crore).
ICICI Bank
ICICI Bank is India’s largest private bank. ICICI Bank was established in 1994 as a wholly-owned subsidiary of ICICI Limited, an Indian financial organisation. It is one of India’s best private banks. Through a number of delivery channels and group entities, ICICI Bank provides a wide range of banking products and financial services to corporate and retail customers. In India’s Top 5 Private Banks, ICICI is ranked second.
In comparison to other banks operating in the private banking area, where growth in NPA numbers for Q1 FY22 was higher than predicted, asset quality had been mostly under control, with net NPA numbers showing a small uptick. The company has been able to consistently increase its net interest margin over the last three years, with margins of 2.95 percent last year. The stock returned 130.97 percent over three years, compared to 75.82 percent for the Nifty 100. Over a three-year period, the stock returned 130.97 percent, while the Nifty Bank provided investors a 57.53 percent return.
Kotak Mahindra Bank
The Group’s flagship firm, Kotak Mahindra Financing Ltd. (KMFL), got a banking licence from the Reserve Bank of India (RBI) in February 2003, making it India’s first non-banking finance company to convert into a bank – Kotak Mahindra Bank Ltd. Kotak is India’s fourth-largest private bank. It is one of India’s top five private banks. Over the last three years, net profit per employee has been steadily increasing, with a 13.34 percent increase last year. Stock returned 84.17 percent over three years, compared to 75.82 percent for the Nifty 100 index. Over a three-year period, the stock returned 84.17 percent, while the Nifty Bank provided investors a 57.53 percent return.
Axis Bank
Axis Bank is India’s third-largest private bank as well as the best private bank. In 1994, Axis Bank became one of the first new-generation private sector banks to open its doors. Axis stands in the third position in terms of net sales and the fourth position in terms of market cap. The company has been able to consistently increase its net interest margin over the last three years, with margins of 2.94 percent last year. The stock returned 43.72 percent over three years, compared to 75.82 percent for the Nifty 100 index. Over a three-year period, the stock returned 43.72 percent, while the Nifty Bank provided investors a 57.53 percent return.
IndusInd Bank
IndusInd Bank Limited is a Pune-based new-generation Indian bank. Commercial, transactional, and electronic banking goods and services are available from the bank. Manmohan Singh, the then-Union Finance Minister, launched IndusInd Bank in April 1994. It stands in the fourth position in terms of net sales. In comparison to the Nifty 100, which returned 75.82 percent over three years, the stock returned -18.29 percent. Over a three-year period, the stock returned -18.29 percent, while the Nifty Bank provided investors a 57.53 percent return. IndusInd Bank Ltd. is a financial firm that was founded in 1994, having a market cap of Rs 91,686.68 Crore.
IDBI Bank
An act established the Industrial Growth Bank of India in 1964 to provide financing and other financial services for the development of India’s young industries. It is a development finance institution and a publicly traded subsidiary of the Life Insurance Corporation of India. Sales fell by 23.29 percent in the third quarter, the lowest in the previous three years. Over the last three years, the company has steadily increased its net interest margin, with margins of 2.86 percent last year.
Bandhan Bank
Bandhan Bank Ltd., headquartered in Kolkata, West Bengal, is an Indian banking and financial services firm. With 5,596 banking outlets and over 2.35 crore customers, Bandhan Bank is present in 34 of India’s 36 states and union territories. Only 4.98 percent of trading sessions in the last three years had intraday drops of more than 5%. The stock returned -22.61 percent over three years, compared to 75.82 percent for the Nifty 100.
Over a three-year period, the stock returned -22.61 percent, while the Nifty Bank delivered investors a 57.53 percent return.
India’s Largest 10 Private Banks Based On Market Capitalization
Private Bank
Price in Rs.
Market cap (Rs. Cr)
HDFC Bank
1,703.95
943,554.11
ICICI Bank
763.50
529,562.30
Kotak Mahindra
2,149.95
426,353.94
Axis Bank
813.00
249,330.42
IndusInd Bank
1,194.95
92,506.50
IDBI Bank
55.60
59,783.36
Bandhan Bank
318.75
51,341.19
AU Small Financ
1,198.50
37,579.76
Yes Bank
14.18
35,527.86
5 Nifty Private Banks Rose Over 50% In One Year
Nifty Private bank
Price
1-Y return
IndusInd Bank
1,194.50
88.57
ICICI Bank
762.80
79.75
Federal Bank
95.55
69.39
Axis Bank
815.00
61.09
IDFC First Bank
50.90
59.04
Disclaimer
This article is only for information purposes. Please note investing in stocks is subject to market risks and one needs to be cautious at this point of time as markets have gone-up sharply. Neither the author nor Greynium Information Technologies Pvt Ltd would be responsible for losses incurred based on a decision made.
According to Section 80D of the Income Tax Act, an assessee can claim a tax benefit for medical insurance premiums paid for self, spouse, dependent parents or children, with an additional deduction of Rs 25000 obtainable for insurance paid for parents under the age of 60, and a deduction of Rs 50,000 for parents over the age of 60. However, the country’s largest lender, State Bank of India, has recently said that taxpayers can now claim the 80D deduction without paying for their parent’s health insurance premiums. “Now save more! Avail 80D Deduction without paying Health Insurance premium for your parents. Simply log in to YONO & file your ITR with Tax2win for FREE,” said SBI in a Tweet.
Documents required to file an income tax return with SBI YONO
According to a Tweet by SBI, taxpayers are only required to keep 5 documents handy while filing their income tax return using SBI YONO. “Do you want to file an ITR? You can do it FREE with Tax2win on YONO. All you need is 5 documents,” SBI said in a Tweet. The 5 necessary documents are as follows:
PAN Card
Aadhaar Card
Form-16
Tax deduction details
Interest Income Certificates
Investment proof for tax savings
Benefits of filing income tax returns early
By filing your income tax return early, you can get exciting benefits. “You get exciting benefits on filing your ITR early with Tax2win on YONO. Besides FREE filing, you also get early refunds, enough time to reconcile, and more,” said SBI in a tweet. Here is the list of benefits that you can avail of by filling your IT returns as early as possible.
Get the lowest price for early birds.
Early filing, early refunds
Avoid the last-minute hassle
Get enough time to rectify errors if any
How to file claim deductions under 80D using YONO SBI?
According to SBI, you can claim an 80D deduction without having to pay health insurance premiums for your parents. All you have to do is file your ITR on YONO SBI with Tax2win and get all relevant tax deductions. Not only this you can also get eCA assistance at just Rs 199 and the offer is valid 31st October 2021. To file your income tax return using YONO SBI follow the steps listed below:
Login to YONO SBI using the required credentials such as Username and Password.
Go to the ‘Shop & Order’ section and tap on ‘Tax & Investment’
Now tap on ‘Tax2win’ and proceed further to file your income tax return in order to claim all eligible deductions.
Indian markets have dipped in the last 2-days, having been on a winning streak for the last one week. According to Mr. Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, the markets are likely to further consolidate given weak global cues, ongoing earnings season and elevated valuations.
“The earnings declared so far has been mixed with cost inflationary pressure being clearly visible on margins. Since the valuations are now at absurdly higher levels, many stocks are priced to perfection thus leaving very little room for any king of disappointment. Thus even slight deviation from result expectation is resulting in steep reactions. We would suggest traders to stay cautious given the kind of volatility being witnessed in the market. Investors on the other hand, should accumulate quality names on every dip as the margin pressure is short term phenomenon while the long term prospects remain bright for the equity markets,” he says.
Here are a few buy and sell stock ideas for short term traders, as suggested by technical experts.
Dr. Ravi Singh, Head of Research & Vice President, ShareIndia
Gabriel India: Buy the stock at Rs 152, sell the stock at Rs 165, Stop Loss at Rs 145
Bank of India: Buy the stock at Rs 61, sell the stock at Rs 75, Stop Loss Rs 55
Manoj Dalmia, Founder and Director, Proficient equities Private Limited
Tanla Solution: Buy the at Rs 1016, target Rs 1068, Stop Loss Rs 994.
Ravi Singhal, Vice chairman, GCL Securities Limited
Federal Bank, Buy at Rs 97, Stop Loss Rs 92, Target Rs 111.
Disclaimer
The above stocks are chosen by investing experts. 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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Story first published: Friday, October 22, 2021, 8:41 [IST]
Gold rates usually gain significantly in the international markets when the US dollar index drops or the economy loses its momentum. But at present, the global scenario has mostly crossed both of these dimensions, as the US dollar is staying upfront and economic activities are also heading north. Yet, gold prices, globally are trying to maintain a moderate level at around $1785/oz, since last week. Although it failed to stay at 2020’s peak levels when the Pandemic was also at its peak.
Last traded gold rates
The Comex December gold futures closed at $1781, and the spot market stood at $1784, while the MCX gold futures closed at Rs. 47,386 on October 21. Global gold rates are resisting the path at around $1780 – $1785 now while trying to reach the $1800 level again. The concerns over inflation are helping the gold rates to stay bullish in the spot and futures markets.
USA’s Inflation rates
The US Bureau of Labor Statistics has recently released the inflation data for September concerning the Consumer Price Index (CPI). The report showed that the CPI – urban (CPI-U) has gained by 0.4%, crossing the expectations. So, since the last year collectively, items in the index have gained by 5.4%, before seasonal adjustment. The food price and energy prices hiked significantly, as the food index hiked 4%, and the energy index hiked over 24.8%. the inflation data of the US is, thus standing at a 30-years high level. On the other hand, USA’s supply chain bottleneck is another challenge, and the IMF is worried about it. Gold is a dollar-dominated asset class, and is inversely related to the US Dollar index. As the US Dollar rises, gold price falls, and vice versa.
However, commodity trader Paul Tudor Jones commented to CNBC that the present inflationary pressures are not just transitory. He also thinks that “the long side of commodity markets will be in keener favor in the coming months.”
On the other hand, commenting on the relation between gold rates and inflation, Gary Wagner told Kitco, “This brings us to the double edge sword of inflationary pressures. Initially, the dot plot that was presented by the Federal Reserve during the height of the pandemic inferred that there would be no interest rate hikes through 2021, and 2022. It is now believed that there will be two rate hikes in 2022 to help temper and reduce the record-high inflationary level. As interest rates are raised, gold becomes less favorable as a fixed-income investment such as U.S. debt becomes more favorable.”
USA Manufacturing data
Philadelphia Federal Reserve said its manufacturing business outlook fell a reading of 23.8 in October, down from its September reading of 30.7. The data missed expectations as consensus forecasts were calling for reading around 25.1. The report supported the gold markets on a short-term basis. The report additionally mentioned that the Prices Paid Index (PPI) has hiked to 70.3, which is up from 67.3 in September, making it a positive turn for the gold market. Hence, the December gold futures bulls are having the overall near-term technical advantage.
As the gold rates are quite volatile now, the cryptocurrency is rallying significantly and standing above $64,000. The US stock markets are also recovering. The 10-year US Treasury yield is also fetching around 1.66%.
However, gold investors are also worried about the US Fed meeting in November, when they might declare the tapering timeline.
IPO market has been enticing retail category to institutional investors such as mutual funds and as per a report for the September month mutual funds lapped up IPO stocks worth some good substantial amount. Now as the street has been witnessing some correction owing to profit booking but by and large the sentiment looks positive, there will be continue to be seen IPOs tapping the current momentum.
10 Pharma And Wellness Firms That Have Filed DRHP With Sebi For IPO
Within the sector the pharma sector is riding the IPO wave with not just listing gains but also is offering stupendous returns ever since listing. Now of the Rs. 65000 crore raised through the IPO route so far this year, close to 22 percent has been accounted by the healthcare and pharma space.
Now after a strong number from the space has already made its way to the D-street, few more in the pipeline that have done their initial formality by filing an IPO DRHP are given below:
1 Wellness Forever Medicare:
This is an Adar Poonawalla-backed company that has filed DRHP for Rs. 1500 crore IPO.offer. The IPO consists of a fresh issue of equity shares up to Rs 400 crore and an offer for sale up to 1.60 crore equity shares, according to DRHP. This is the second IPO by a pharmacy chain that is based out of Mumbai with presence in as many as 23 cities across Maharashtra, Goa, and Karnataka.
2. Global Health Ltd./Medanta Hospitals:
The group that operates hospital under the brand name Medanta has filed for an initial share sale. The initial public offering (IPO) consists of a fresh issue of equity shares aggregating to Rs 500 crore, and an offer for sale of up to 4.84 crore equity shares, according to the draft red herring prospectus (DRHP).
In the current regime, there are 4 hospitals operating from 4 cities and one is under construction in Patna and the other is planned for Noida.
3. Sahajanand Medical Technologies:
The heart stent making company has filed for Rs. 1500 crore IPO. The issue comprises a fresh issue of shares of around Rs 410 crores and an offer for sale component of Rs 1,089 crore. It will also provide a partial exit to the investors Morgan Stanley Private Equity Asia and Samara Capital who hold 18.44 percent and 36.59 percent, respectively, in the company.
4. Veeda Clinical Research Limited:
The clinical research entity Veeda Clinical Research Limited has filed its draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (Sebi) for raising funds from the primary markets.
The issue will consist of an issuance of fresh equity shares worth up to Rs331.60cr and an offer for sale (OFS) of Rs500cr by promoters and existing shareholders.
5. Healthium Medtech:
The global medtech company with focus chiefly on surgical, post surgical as well as chronic care has filed for an IPO. The public issue comprises a fresh issue of Rs 390 crore and an offer for sale of 3.91 crore equity shares by selling shareholders. The funds raised from the fresh issue are proposed to be utilised for repaying debts, investments in subsidiary firms, acquisitions and other strategic initiatives and general corporate purposes.
6. MedPlus Health Service:
Hyderabad based Pharmacy retailing company has filed DRHP for Rs. 1639 crore IPO. The IPO shall include a fresh issuance of shares worth Rs 600 crore and an offer for sale (OFS) of equity up to Rs 1,038.7 crore by promoter and shareholders. The company’s offerings range from pharmaceutical and wellness products including medicines, vitamins, medical devices and test kits, and FMCG products such as home and personal care products including toiletries, baby care products, soaps and detergents and sanitisers.
7. Infinion Biopharma IPO:
The company has filed DRHP for the sale of 45 lakh equity shares of the company.
This is a life sciences company Infinion Biopharma is an innovation-driven life sciences company integrating biophysics and engineering with traditional pharmacology and biochemistry to produce high-value, innovative products across a range of therapeutic areas.
8. Emcure Pharma:
The leading pharma company is expected to float an IPO of Rs. 4500-5000 crore IPO . The initial public offering (IPO) comprises fresh issuance of equity shares worth Rs. 1,100 crore and an offer of sale (OFS) of 18,168,356 shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP). The company produces a broad range of pharma products across therapeutic areas.
9. Supriya Lifesciences:
The Mumbai based drug making company has filed an IPO for Rs. 1200 crore IPO. According to the prospectus, the IPO consists of a fresh issue of shares worth Rs 200 crore and an offer of sale (OFS) of shares worth up to Rs 1,000 crore held by its promoter Satish Waman Wagh. The face value of each share is Rs 2.
The company is the leading manufacturer and supplier of APIs with a focus on research and development.
10. VLCC Health care ltd.:
The wellness company has filed for raising funds via an IPO.The company in 2016 had withdrawn its IPO because of demonetization then. The initial public offering comprises a fresh issue of Rs 300 crore by the company and an offer for sale of 89,22,672 equity shares by promoter and investors.
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Slippages amounted to Rs 1,541 crore, down from Rs 1,577 crore in Q1FY22. Recoveries and upgrades were to the tune of Rs 1,910 crore, up from Rs 1,596 crore in the June quarter. The slippage ratio for the year so far stands at 2.2% and the bank intends to contain it at around 3% for the full year.
IDBI Bank on Thursday reported a 75% year-on-year (y-o-y) jump in net profit to Rs 567 crore for the quarter ended September, driven by a reduction in employee costs and an improvement in net interest income (NII).
The bank’s NII, or the difference between interest earned and interest expended, rose 9.45% y-o-y to Rs 1,854 crore.
P Sitaram, chief financial officer, IDBI Bank, explained that the improvement in the bottom line was aided by certain accounting benefits.
“We have seen a reduction in the employee cost. In September 2020, because of the interest rate movement, we had to take an actuarial hit on retirement benefits. This year so far, the movement in interest rates has not given rise to any significant increase in retirement benefits over and above the March 2021 levels,” Sitaram said.
The private lender’s pre-provisioning operating profit rose 15% y-o-y to Rs 1,209 crore. The net interest margin (NIM), a key measure of profitability, stood at 3.02%, down 104 basis points (bps) sequentially.
The lender’s provisions rose 11.6% y-o-y to Rs 434 crore in Q2FY22. Asset-quality performance was a mixed bag as the gross non-performing asset (NPA) ratio improved to 20.92% in Q2FY22 from 21.48% in the previous quarter. The net NPA ratio rose to 1.62% in the September quarter from 1.56% in the June quarter. The provision coverage ratio (PCR) improved to 97.27% as on September 30, 2021, from 95.96% as on September 30, 2020.
Slippages amounted to Rs 1,541 crore, down from Rs 1,577 crore in Q1FY22. Recoveries and upgrades were to the tune of Rs 1,910 crore, up from Rs 1,596 crore in the June quarter. The slippage ratio for the year so far stands at 2.2% and the bank intends to contain it at around 3% for the full year.
The bank’s total deposits fell 0.26% y-o-y to Rs 2.23 lakh crore at the end of September 2021. The value of current account savings account (CASA) with the bank increased 13% y-o-y to Rs 1.22 lakh crore. The share of CASA in total deposits improved to 54.64% as on September 30, 2021, against 48.33% as on September 30, 2020. Gross advances grew 0.41% y-o-y to Rs 1.64 lakh crore at the end of September 2021. Retail loans accounted for 63% of the total loan book, with the rest being corporate loans.
Shares of IDBI Bank ended at Rs 55.60 on the BSE on Thursday, down 2.03% from their previous close.
This small cap company from the packaging industry has shed it penny stock status and has just hit 52-week high of Rs. 1286.95 per share in the previous week. The stock has made a remarkable rally from a price of just Rs. 4 to currently Rs. 1050.95. The stock in trade on October 21, 2021 has been locked in 5% lower circuit.
This Penny Stock From The Packaging Space Gives 26175% Return In 1-Year
About Gopala Polyplast
Incorporated in 1984 by Somani Family, Gopala Polyplast started as a single unit of woven fabrics at Kadi. Later 10 years later, the company became public and also diversified into Garment accessories. Thereon the company’s both the units have been on an expansion and modernization plant. Also later it commissioned a natural gas based captive power plant.
The company manufactures woven label and PP woven bag in India. Woven sacks are the best and the most cost effective packaging solution for industries like cement, fertilizer, sugar, chemicals, foodgrains, etc. Apart from it there are Jumbo bags which are used to pack bulk quanitities. Woven fabric which is the first stage of woven sacks, is a preferred medium for bale wrapping and rain protection in the form of Tarpaulin.
Financials
The company’s financials have been improving and in the Fy 2021 its net profit surged to Rs. 63 crore, while for the last 2 years the company was incurring losses. Also, its debt to equity has been on a higher side at 1.44.
Gopala Polyplast peer companies
Among its peer companies’, the stock commands the highest m-cap of Rs. 1075 crore. While other peer companies’ including Kanpur Plast, RDB Rasayans, Rishi Techtex have a lower debt to equity ratio.
How the company made such substantial stock price rally?
After the company’s resolution plan as submitted by Plastene India has been approved by the Gujarat- NCLT bench. And now as major of the shareholding has been in the hands of promoters and very less number of stocks are traded on a daily basis, retail investors fail to pocket in these stocks and hence the reason behind the stock’s massive surge from just Rs. 4 a year back to Rs. 1550 per share now. So, the scare supply in the stock is one reason fuelling the price rise.
Thinking to bag such a stupendous stock, also note the company was booked last year owing to some large order fraud. Also, the company at one point because of the overdraft in the account and devolvement of LCs (letters of credit) led the account to become an NPA (non-performing asset). Hence low liquidity in a stock like Gopala Polyplast led it to witness a sharp rally similar to the case as seen in Ruchi Soya.
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Citibank India or Citi India has updated its fixed deposit interest rates today. Following the bank’s latest interest rate adjustment, the general public will now get the highest rate of 3.50 percent, while senior citizens will receive the highest rate of 4.00 percent on deposits maturing in 732 days to less than 1096 days. On deposits of less than Rs 2 crore, the interest rate on tax saver deposits maturing in five years would be 3.50 percent for the general public and 4.00 percent for senior citizens. Following the modification made today, Citi Bank is now providing an interest rate of 2.75 percent on recurring deposits of less than Rs 2 crore maturing in 365 days to less than 540 days and 3.00 percent on deposits maturing in 541 to 731 days to the general public. Here are the latest interest rates on fixed deposits, recurring deposits, and senior citizens’ deposits of Citi Bank for a deposit amount of less than Rs 2 Cr.
Citibank Time Deposit Interest Rates
For a deposit amount of less than Rs 2 Cr, here are the latest interest rates on fixed deposits for the regular depositors.
Period (In Days)
Interest Rate Per Annum
Annualised Yield
7-10 Days
1.85%
–
11-14 Days
1.85%
–
15-25 Days
1.90%
–
26-35 Days
1.90%
–
36-45 Days
2.55%
–
46-60 Days
2.55%
–
61-90 Days
2.55%
–
91-120 Days
2.55%
2.55%
121-150 Days
2.55%
2.55%
151-180 Days
2.55%
2.56%
181-270 Days
2.60%
2.61%
271-364 Days
2.75%
2.77%
365-400 Days
2.75%
2.78%
401-540 Days
2.75%
2.78%
541-731 Days
3.00%
3.06%
732 – 1095 Days
3.50%
3.61%
>=1096 days
3.50%
3.67%
Source: Bank Website, effective from October 21, 2021
Citibank Recurring Deposits Interest Rates
Citibank is providing the following interest rates to the general public on recurring deposits of less than Rs 2 Cr maturing in 365 to 731 days.
Tenure
Interest Rate Per Annum
Annualised Yield
365 – 400 Days
2.75%
2.78%
401 – 540 Days
2.75%
2.78%
541 – 731 Days
3.00%
3.06%
Source: Bank Website, effective from October 21, 2021
Citibank Senior Citizens Deposits Rates
Citibank is currently offering elderly people the following interest rates on fixed deposits of less than Rs 2 crore.
Tenure
Interest Rate Per Annum
Annualised Yield
7-10 Days
2.35%
–
11-14 Days
2.35%
–
15-25 Days
2.40%
–
26-35 Days
2.40%
–
36-45 Days
3.05%
–
46-60 Days
3.05%
–
61-90 Days
3.05%
–
91-120 Days
3.05%
3.05%
121-150 Days
3.05%
3.05%
151-180 Days
3.05%
3.06%
181-270 Days
3.10%
3.11%
271-364 Days
3.25%
3.28%
365-400 Days
3.25%
3.29%
401-540 Days
3.25%
3.30%
541-731 Days
3.50%
3.58%
732 – 1095 Days
4.00%
4.14%
>=1096 days
4.00%
4.23%
Source: Bank Website, effective from October 21, 2021
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Story first published: Thursday, October 21, 2021, 17:46 [IST]
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