Category: Personal Finance

These 4 Small Finance Banks Are Offering Interest Rates On FD Upto 7.75%

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oi-Kuntala Sarkar

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Small Finance Banks are popular to Indian citizens because these financial institutions provide financial services to the unserved and unbanked regions of the country. People from rural and semi-urban areas are being highly benefited by them. Additionally, the small finance banks usually offer better interest rates on FDs than other banks. Here is a list of 4 small finance banks that are offering lucrative interest rates on FDs for public and senior citizens.

These 4 Small Finance Banks Are Offering Interest Rates On FD Upto 7.75%

Ujjivan Small Finance Bank

On a ‘2 years 1 day to 5 years’ FD, Ujjivan Small Finance Bank is offering 6.75% interest to the public, while giving 7.25% to senior citizens. These interest rates are effective as of 5 March 2021.

Equitas Small Finance Bank FD

On a ‘5 years 1 day to 10 years’ FD, Equitas Small Finance Bank is offering 6.65% interest to the public and 7.15% interest to senior citizens. However, there are offering 7.30% interest to senior citizens on FD for 888 days. These interest rates are effective as of 25 January 2021.

Suryoday Small Finance Bank FD

On a ‘5 years’ FD, Suryoday Small Finance Bank is offering 7.25% interest to the public and, offering 7.75% interest to senior citizens. These interest rates are effective as of 15 February 2021.

Utkarsh Small Finance Bank FD

To mention Utkarsh Small Finance Bank in addition to the above list, this bank does not offer 5 years FD. But for ‘701 days to 3652 days’ FD, they are offering 6.75% interest to the public and 7.25% to senior citizens. For a ‘1 year to 699 days’ FD, they are giving 6.75% interest to the public, while the rate for senior citizens is the same. Hence, these are lucrative interest rates, effective as of 19 October 2020.

Comparison

Rather than other public or private banks, small finance banks usually offer 0.50% to 0.60% better interest rates on FD to public and senior citizens. During a time when the RBI is keeping the interest rates at historical low levels due to the pandemic, the banks are eventually offering interest on term deposits or Fixed Deposits (FD) at a low range. Hence, if you can invest in these small finance banks, you can earn better returns in the long term or short term.

To have a comparative idea one can find other banks’ FD interest rates. The State Bank of India (SBI), that offers 5.40% interest to the public and 6.20% interest to senior citizens on FDs for 5 years and up to 10 years. These are effective from August 2021.

Story first published: Monday, October 18, 2021, 17:19 [IST]



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All You Need To Know About Payment of Gratuity Under National Pension System

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oi-Vipul Das

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The Department of Pension and Pensioners’ Welfare (DoPPW) under the Ministry of Personnel, Public Grievances and Pensions has released a regulation known as the Central Civil Services (Payment of Gratuity under National Pension System) Rules, 2021. According to the notification of DoPPW, these rules shall apply to the Government servants including civilian Government servants in the Defence Services, appointed substantively to civil services and posts in connection with the affairs of the Union on or after the 1st day of January 2004, and to whom the Central Civil Services (Implementation of National Pension System) Rules, 2021 apply.

All You Need To Know About Payment of Gratuity Under National Pension System

Payment of gratuity shall be made in accordance with the Central Civil Services (Implementation of National Pension System) Rules, 2021, in the case of a Government servant who dies while on duty, is boarded out due to disability, or retires due to invalidation, and who had exercised the option under rule 10 of the Central Civil Services (Implementation of National Pension System) Rules, 2021 for benefits under the Central Civil Services (Pension) Rules, 1972, or the Central Civil Services (Extraordinary Pension) Rules, 1939.

The regulation of claims to gratuity is as follows according to the notification issued by the department.

Any claim to gratuity shall be regulated by the provisions of these rules in force at the time when a Government servant retired or is retired or is discharged or is allowed to resign from service or dies, as the case may be. The day on which a Government servant retires or is retired or is discharged or is allowed to resign from service, as the case may be, shall be treated as his last working day and the date of death of a Government servant shall also be treated as a working day.

For the purpose of determining the amount of gratuity payable under these rules shall include the basic pay as defined in rule 9 (21) (a) (i) of the Fundamental Rules, 1922, which a Government servant was receiving immediately before his retirement or on the date of his death and shall also include non-practicing allowance granted to the medical officer in lieu of private practice.

The amount of retirement gratuity or death gratuity payable under this rule shall in no case exceed twenty lakh rupees.

Average emoluments shall be determined with reference to the emoluments drawn by a Government servant during the last ten months of his service. The dearness allowance admissible on the date of retirement or death, as the case may be, shall also be treated as emoluments for the purpose of this rule.

The retirement gratuity or death gratuity for a Government servant, who has completed five years’ qualifying service shall be equal to one-fourth of his emoluments for each completed six monthly periods of qualifying service, subject to a maximum of 16½ times the emoluments.

Where a Government servant dies while in service, the death gratuity shall be payable to his family in the manner indicated in sub-rule (1) of rule 24 at the rates given in two times of emoluments if the period of qualifying service is less than one year, six times of emoluments if the period of qualifying service is one year or more but less than five years, twelve times of emoluments if the period of qualifying service is five years or more but less than eleven years, twenty times of emoluments if the period of qualifying service is eleven years or more but less than twenty years and half of the emoluments for every completed six monthly periods of qualifying service subject to a maximum of thirty-three times of emoluments if the period of qualifying service is 20 years or more.

Retires on attaining the age of superannuation, or on invalidation, or retires or is retired, in advance of the age of superannuation, on being declared surplus to the establishment in which he was serving, opts for Special Voluntary Retirement Scheme relating to voluntary retirement of surplus employees, or on has been permitted to be absorbed in service or post in or under a Corporation or Company wholly or substantially owned or controlled by the Central Government or a State Government or in or under a body controlled or financed by the Central Government or a State Government are eligible for retirement gratuity or death gratuity.

The right conferred on any specified nominee who predeceases the Government servant or dies after the death of the Government servant but before receiving the payment of gratuity shall transfer to such other person as may be indicated in the nomination.

The retirement gratuity shall be paid to the family within three months of the date of application and in case of any delay, the interest shall be paid at the applicable Public Provident Fund rates, and responsibility for delay shall be fixed in accordance with rule 44.

In all cases where the payment of gratuity has been authorized later than the date when its payment becomes due, including the cases of retirement otherwise than on superannuation, and it is clearly established that the delay in payment was attributable to administrative reasons or lapses, interest shall be paid at the rate and manner applicable to Public Provident Fund amount in accordance with the instructions issued from time to time.



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Gold Rates Remains Flat In India Before Diwali, Quoted At At Rs. 47,070/10 Grams, On Oct 18

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oi-Kuntala Sarkar

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Indian gold rates remained flat on October 18, while dropped marginally in the global markets. Today, 22 carat gold rates are quoted at Rs. 47,070/10 grams and 24 carat gold rates are quoted at Rs. 48,070/10 grams. The Comex gold future dropped by 0.37% and was quoted at $1761.8, while the spot gold prices dropped by 0.35% and were quoted at $1762.20/oz till 4.02 PM IST. On the other hand, the US dollar index in the spot market was at 94.13 at the same time and gained by 0.16%. In India, the Mumbai MCX gold in October future has fallen only by 0.06% today till 4.03 PM IST, and was quoted at Rs. 47,185/10 grams. As the tapering timeline is expected to be announced earlier than expected, gold prices are probably not going to hike significantly now.

Gold Rates Remains Flat In India Before Diwali, Quoted At At Rs. 47,070/10 Grams

Earlier, international gold rates headed north as the International Monetary Fund (IMF) lowered the global economic growth forecast at 5.9% from the previous anticipation of 6%. Risks related to supply chain, price pressures, and the delta variant coronavirus is behind it. Additionally, US economic growth has been was lowered from 7% to 6% because of supply bottleneck. Hence the gold prices reached nearly $1800/oz, but dropped later. Now the gold rates are again being quoted at around $1760/oz, globally. Gold price at around $1760/oz is being considered as a moderate point, not far down, not exceeding the level.

Gold rates in different Indian cities are quoted differently, daily. Today’s gold rates in major Indian cities follow:

City 22 carat (INR/10 Grams) 24 carat (INR/10 Grams)
Mumbai 47,070/- 48,070/-
Delhi 46,450/- 50,670/-
Bangalore 44,300/- 48,330/-
Hyderabad 44,300/- 48,330/-
Chennai 44,620/- 48,680/-
Kerala 44,300/- 48,330/-
Kolkata 46,750/- 49,450/-

On the present market range, Anna Golubova told Kitco, “But despite Friday’s sell-off, bullish sentiment is still out there, especially with geopolitical tensions flaring up. And the focus is not only gold.”

Commenting on the earlier price hike of gold at $1800, OANDA senior market analyst Edward Moya told Kitco News, “This is a major reversal of trends and very positive for gold. We are starting to see the market growing nervous about the U.S. consumer. Gold is entering a period where risks now outweigh the reopening trade, and we’ll see more safe-haven flows into gold.”



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List of Navratna Companies In India 2021

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Bharat Electronics Limited

BEL was founded in 1954 in partnership with CSF, France (now Thales) to manufacture basic communication equipment. BEL now manufactures a wide range of cutting-edge equipment in fields such as Defence Communication, Radars, Naval Systems, C4I Systems, Weapon Systems, Homeland Security, Telecom & Broadcast Systems, Electronic Warfare, Tank Electronics, Electro-Optics, Professional Electronic Components, and Solar Photovoltaic Systems.

Bharat Electronics Ltd., founded in 1954, is a Large Cap business in the Defence sector with a market capitalization of Rs 51,302.46 crore. The stock returned 141.32 percent over three years, compared to 73.72 percent for the Nifty 100 index.

Container Corporation of India

Container Corporation of India

The Indian Railways, Ministry of Railways, Government of India owns Container Corporation of India Limited. CONCOR was founded in March 1988 under the Companies Act and began operations in November 1989, taking over Indian Railways’ existing network of seven inland container facilities. The stock returned 40.04 percent over three years, compared to 73.72 percent for the Nifty 100.

Engineers India Limited

Engineers India Limited (EIL) is a government-owned company. It is owned by the Indian government’s Ministry of Petroleum and Natural Gas. It was founded in 1965 to serve petroleum refineries and other industrial enterprises with engineering and related technical services.

Since the last five years, this company has had no debt. The stock returned -33.66 percent over three years, compared to 89.74 percent for the Nifty Smallcap 100. Engineers India Ltd., founded in 1965, is a Mid Cap business in the Services sector with a market capitalization of Rs 4,375.50 crore.

Hindustan Aeronautics Limited

Hindustan Aeronautics Limited

Hindustan Aeronautics Limited, located in Bengaluru, India, is an Indian state-owned aerospace and defence firm. HAL, which was founded on December 23, 1940, is one of the world’s oldest and largest aerospace and defence companies. The company saw a quarterly sales decline of 83.75 percent, the lowest in the prior three years. Stock returned 82.78 percent over three years, compared to 73.72 percent for the Nifty 100 index. Hindustan Aeronautics Ltd., founded in 1963, is a Large Cap firm in the Defence sector with a market capitalization of Rs 48,277.20 crore.

Mahanagar Telephone Nigam Limited

Bharat Sanchar Nigam Limited owns Mahanagar Telephone Nigam Limited, d/b/a MTNL, which is headquartered in New Delhi, India. MTNL operates in India’s metro cities of Mumbai and New Delhi, as well as the African island nation of Mauritius. For the fourth quarter in a row, the company has lost Rs 688.7 crore. The stock returned 41.79 percent over three years, compared to 89.74 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned 41.79 percent, whereas the S&P BSE Telecom provided investors an 83.5 percent gain. It was founded in 1986 and is a Telecommunications Small Cap company with a market capitalization of Rs 1,250.55 crore.

National Aluminium Company Limited

National Aluminium Company Limited

NALCO (National Aluminium Corporation Limited) is a government-owned company with integrated and diversified operations in mining, metals, and power. It is owned by the Ministry of Mines of India. National Aluminium Business Ltd., founded in 1981, is a Mid Cap company in the Metals – Non Ferrous sector with a market capitalization of Rs 19,762.16 crore. The government of India currently owns 51.5 percent of NALCO. In the fiscal year ended March 31, 2021, the company generated a return on equity of 12.16 percent, surpassing its five-year average of 9.99 percent. The stock returned 61.32 percent over three years, compared to 92.3 percent for the Nifty Midcap 100.

NBCC (India) Limited

The Indian government firm NBCC (India) Limited is a blue-chip company. It is owned by the Indian government’s Ministry of Housing and Urban Affairs. Since the last five years, the company has had no debt. The stock returned -10.69 percent over three years, compared to 92.3 percent for the Nifty Midcap 100. Over a three-year period, the stock returned -10.69 percent, compared to S&P BSE Industrials, which returned 92.84 percent. NBCC (India) Ltd., founded in 1960, is a construction-related Mid Cap company with a market capitalization of Rs 8,721.00 crore.

NMDC Limited

NMDC Limited

NMDC Limited is a mineral producer controlled by the government. The Ministry of Steel, Government of India, has administrative jurisdiction over it. Iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, and other minerals are all explored. In the fiscal year ended March 31, 2021, the company generated a ROE of 21.0 percent, surpassing its five-year average of 15.94 percent. Annual sales growth of 28.72 percent surpassed the company’s three-year CAGR of 8.91 percent. The stock returned 36.01 percent over three years, compared to 73.72 percent for the Nifty 100.

NLC India Limited

NLC India Limited is a Navratna government of India firm that operates in the fossil fuel mining and thermal power production sectors in India. In the last five years, the company’s ROE has been steadily falling. The majority of profits were distributed as dividends to stockholders last year. The stock returned -8.2 percent over three years, compared to 92.3 percent for the Nifty Midcap 100. NLC India Ltd., founded in 1956, is a Mid Cap business in the Power sector with a market capitalization of Rs 10,788.03 crore.

Oil India Limited

Oil India Limited

Oil India Limited is the government’s second-largest hydrocarbon exploration and production company. It is owned by the Indian government’s Ministry of Petroleum and Natural Gas, with its operational headquarters in Duliajan, Assam. In the fiscal year ended March 31, 2021, the company generated an ROE of 14.9 percent, surpassing its five-year average of 10.65 percent. Annual sales growth of 77.13 percent surpassed the company’s three-year CAGR of 26.01 percent.

Power Finance Corporation Limited

The Ministry of Power, Government of India, owns Power Finance Corporation Ltd., an Indian financial institution. It is the financial backbone of the Indian power sector, having been established in 1986. PFC has a net worth of INR 383 billion as of September 30, 2018. The stock returned 81.54 percent over three years, compared to 73.72 percent for the Nifty 100 index. Power Finance Corporation Ltd., founded in 1986, is a Large Cap firm in the Term Lending Institutions sector with a market cap of Rs 39,324.01 crore.

Rashtriya Ispat Nigam Limited

Rashtriya Ispat Nigam Limited

Vizag Steel, also known as Rashtriya Ispat Nigam Ltd, is a government-owned steel producer situated in Visakhapatnam, India. It is owned by the Ministry of Steel of the Government of India. It is the country’s first shore-based Integrated Steel Plant, and it is known for producing high-quality goods that satisfy customers.

It is the global leader in long goods and serves a wide range of industrial sectors.

Rural Electrification Corporation Limited

In India’s power industry, REC Limited, originally Rural Electrification Corporation Limited, is a public Infrastructure Finance Company. The firm is a government-owned corporation that finances and promotes power projects throughout India. The stock returned 59.26 percent over three years, compared to 92.3 percent for the Nifty Midcap 100. REC Ltd., founded in 1969, is a Large Cap firm in the Term Lending Institutions sector with a market capitalization of Rs 32,536.77 crore.

Shipping Corporation of India Limited

Shipping Corporation of India Limited

The Shipping Corporation of India is a government-owned company in India. It runs and manages vessels that service both national and international lines and is managed by the Ministry of Shipping, Government of India, with headquarters in Mumbai, Maharashtra, India. Sales have decreased by 17.98%. For the first time in three years, the company’s revenue has decreased. The stock returned 226.06 percent over three years, compared to 92.3 percent for the Nifty Midcap 100. Shipping Corporation of India Ltd., founded in 1950, is a Mid Cap company in the Shipping industry with a market capitalization of Rs 6,614.35 crore.

List Of Navratna Companies In India 2021

List Of Navratna Companies In India 2021

Navratna Companies Price in Rs. PE ratio
Bharat Electronics 217.65 25.62
Container Corporation of India 686.30 59.57
Engineers India 79.15 24.30
Hindustan Aeronautics 1,484.10 15.11
Mahanagar Telephone Nigam 19.85 –
National Aluminium Company 123.20 14.06
NBCC 49.55 35.38
NMDC 157.80 5.00
Oil India Limited 238.95 5.69
Power Finance Corporation 150.95 3.18
Rural Electrification Corporation 165.55 3.71
Shipping Corporation of India 142.50 12.82
NLC India 77.40 8.57

List Of Navratna Companies In India 2021

List Of Navratna Companies In India 2021

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. This article is only for information purposes. Neither the author, nor Greynium Information Technologies Pvt Ltd would be responsible for losses incurred based on a decision made.



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3 Best Safe Bluechip Cryptocurrencies To Invest Now

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1. Bitcoin:

The oldest and the most prominent among all the digital assets in existence today, bitcoin’s bull case is being studied in an depth way. Currently, only, the currency has scaled to its near all time high levels after the SEC has given approval for its ETF that would mean engagement of more and more investors into the asset class. The currency commands an almost 40 percent of the total crypto market cap.

Also, the currency similar to an exchange currency is being increasingly used as a payment method. The bluechip crypto in the current year has hit two milestones first of being used as a legal tender in El Salvador and Bitcoin becoming the part of Tesla’s balance sheet.

The Risk-

High volatility should not unnerve you as it is the inherent characteristic of the token and indeed if you are a long term investor, this should not be your concern. Also, it is highly costly and cannot be taken on by every other investor and hence SIPs in cryptos have been started to address the issue.

The Return potential of Bitcoin-

Considering the last 9 year price trend on bitcoin, crypto author Glen Goodman has extrapolated a potential peak for BTC this cycle at around $150,000. This could be followed by a major correction to around $20,000, though he warns that this lower bound could be hit before the top end is reached.

2. Ethereum:

2. Ethereum:

This is another blue chip crypto that is slowly and gradually chipping away bitcoin’s share of the overall crypto market. The asset shares a dissimilarity with the mainstream bitcoin in the sense that it also allows developers in creating their own cryptos utilizing the Ethereum network. The unique technology has enabled the crypto to surpass some of the other cryptos that came in before Ethereum.

The Risks:

There is only a single lane for executing transaction on the crypto backed by blockchain and hence in case of overload, the process can take longer.

The Return potential of Ethereum-

On its popularity, the crypto is said to hit and surpass levels of $4900 as per the technical analysts at Fundstrat. The research house said the ethereum token’s market share has grown in recent days, which its analysts believe is a bullish signal for the world’s second-biggest cryptocurrency.

3. Cardano:

3. Cardano:

It is the youngest when compared to the other 2 specified bluechip cryptos and fourth in the list in terms of market capitalization. There is a cap on the number of ADA coins that can exist at 45 billion. There is a proof of stake protocol being used which incentivizes users for establishing new blocks. And this is believed to be far more energy efficient in comparison to proof-of-work algorithm being used by bitcoin.

Also, in comparison to the other 2 cryptos it is a more affordable choice with price at just $2.15 per token while the other two i.e. bitcoin currently is hovering above $62k, while the price of Ethereum is at $3860 per token.

The recent Alonzo upgrade will enable introduction of smart contracts to its blockchain. Further the hurdle that it can be introduced in the Japanese market has also helped the crypto spur in price. So, with a better energy usage, it is also the best climate-friendly cryptocurrencies to buy on the market right now.

Upside potential of Cardano:

The Cardano Crypto price is expected to reach $3.83 in 2021, $7.70 in 2022, $8.93 in 2023, and $15 by the end of 2025, according to the Economy Forecast Agency platform.

Disclaimer:

Disclaimer:

For some of the investors investing in cryptos has been highly lucrative and here we have listed some safe cryptos to consider for investment. Though investment advice isn’t given out in the story. Also do note investment in crypto can be highly risky and hence you should invest only that amount that you can afford to lose into cryptos.

GoodReturns.in



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4 Stocks To Buy As Suggested By ICICI Securities Based On Their Quarterly Results

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Buy HCL Technologies with upside potential of 18%

HCL Technologies (HCLT) serves the BFSI, retail, health, telecommunications, manufacturing, media, and hi-tech industries with IT, ER&D, and products.

ICICI Direct sees a nearly 18% upside on the stock of HCL Technologies from the current market price Rs 1251. The firm has set a target price of Rs 1475 on the stock.

Q2FY22 Results of HCL

  • HCLT reported good income from IT services.
  • In CC terms, revenue climbed 3.5 percent over the previous quarter. Revenues from IT services and ER&D increased by 5% year over year, while P&P fell by 8%.
  • EBIT margin fell 63 basis points quarter over quarter, including a 50 basis point impact from reduced P&P revenues.
  • Revenues from P&P are likely to be unchanged this year, compared to previous projections of low single-digit increase.

HCL Technologies: Minimum 75% payout for FY22-26

HCL Technologies: Minimum 75% payout for FY22-26

Target And valuation

“HCLT share price has grown by ~3.5x over the past five years (from ~| 364 in October 2016 to ~| 1,259 levels in October 2021). We continue to remain positive and retain our BUY rating on the stock. Target Price and Valuation: We value HCLT at Rs 1475 i.e. 24x P/E on FY23E EPS,” the brokerage has said.

Key triggers for future price performance:

  • The company continues to secure multiyear contracts in Cloud transformation, cyber security, and other areas.
  • In FY22E, the company expects solid double-digit revenue growth, primarily due to better growth in IT & business services and ER&D.
  • We predict HCLT to grow at a 13.2 percent CAGR in FY21-23E as large deal wins increase, geographies expand, and sales and capabilities are invested.

Buy Wipro with upside potential of 15%

Buy Wipro with upside potential of 15%

Wipro is a BFSI, health, consumer, energy & utility, technology, and communication IT, consulting, and BPO firm.

ICICI Direct sees a nearly 15% upside on the stock of Wipro from the current market price Rs 708. The firm has set a target price of Rs 815 on the stock.

Q2FY22 Results of Wipro:

  • Wipro announced strong Q2FY22 performance.
  • In dollar terms, revenues climbed 8.1 percent over the previous quarter, with organic growth accounting for 4.6 percent.
  • In Q2, Wipro signed nine significant deals with a total value of $580 million. In Q3FY22E, Wipro expects to gain 2-4 percent QoQ.

Wipro: Strong Q2 numbers

Wipro: Strong Q2 numbers

Target and Valuation

“Wipro’s share price has grown by ~4x over the past five years (from ~| 174 in October 2016 to ~| 708 levels in October 2021). We maintain BUY on strong deal momentum especially on large size deals. Target Price and Valuation: We value Wipro at Rs 815 i.e. 29x P/E on FY23E EPS, the brokerage has said.

Key triggers for future price-performance:

  • Restructuring of the organisation, client mining, and the desire to win one significant transaction every quarter to fuel growth are all part of the new CEO’s plan to turn around the company.
  • Higher penetration in Europe, client mining, new logo acquisition, and traction digital sales will all help to boost revenue growth.

Buy HDFC Bank with upside potential of 19%

Buy HDFC Bank with upside potential of 19%

HDFC Bank is a leading private sector bank with a long history of continuous expansion and operational performance.

ICICI Direct sees a nearly 19% upside on the stock of HDFC Bank from the current market price Rs 1685. The firm has set a target price of Rs 2000 on the stock.

Q2FY22 Results of HDFC Bank

  • Overall, the performance was in line with expectations.
  • Advances increased by 15.5 percent year over year to 11.9 lakh crore, while deposits increased by 14.4 percent.
  • NII is up 12.1 percent year over year, NIM is unchanged at 4.1 percent, and C/I is up QoQ to 37 percent.
  • R/s increased 90 bps QoQ to 1.7 percent, while GNPA climbed 12 bps QoQ to 1.35 percent.
  • HDB Financial’s gross stage 3 assets are at 6.1 percent, down from 7.7 percent in the previous quarter.

Buy Mahindra CIE with upside potential of 31%

Buy Mahindra CIE with upside potential of 31%

Mahindra CIE (MCI), a multi-technology, multi-product automotive component supplier established in Spain, is part of the CIE Automotive Group.

ICICI Direct sees a nearly 31% upside on the stock of Mahindra CIE from the current market price Rs 251. The firm has set a target price of Rs 331 on the stock.

Q3CY21 Results of Mahindra CIE

  • MCI had a good Q3CY21 performance.
  • Consolidated net sales increased by 2.4 percent on a quarterly basis to $ 2,091 crore.
  • EBITDA margins were steady year over year at 12.8 percent.
  • PAT increased by 22.2 percent year over year to Rs 166 crore, helped by a lower effective tax rate.

Mahindra CIE: Steady performance; investment thesis unchanged

Mahindra CIE: Steady performance; investment thesis unchanged

Target and Valuation

“The stock price has grown at ~5% CAGR over the past five years (from ~| 190 levels in October 16), slightly outperforming Nifty Auto index. We retain BUY on expected margin improvement & inexpensive valuations. Target Price and Valuation: We introduce CY23E numbers; value MCI at 10x average CY22E-CY23E EV/EBITDA for the revised target of Rs 330,” the brokerage has said.

Triggers for future pricing performance

  • We anticipate a 16.7% net sales CAGR in CY20-23E, led by the India business.
  • Higher utilisation and efficiency measures will help boost margins to 13.5 percent (CY23E)
  • CY23E EPS expected to be | 18/share; RoCE expected to improve to 12% by CY22E.
  • CFO and FCF yields in CY23E were 12 percent and 7%, respectively, with net debt free b/s.

Disclaimer

Disclaimer

The above 4 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.



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2 Mid Cap Funds For SIP In 2021 Based On 1 Year Returns of Up To 99.88%

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PGIM India Midcap Opportunities Fund Direct-Growth

According to the data of Groww, PGIM India Midcap Opportunities Fund Direct-Growth returns for the previous year are 99.88 percent, and since its debut, it has generated 22.38 percent average annual returns. The fund’s expense ratio is 0.32 percent, which is lower than that of most other funds in the mid-cap category. The fund’s equity allocation is strongly concentrated across the engineering, financial, healthcare, construction, and services sectors.

Mphasis Ltd., Ashok Leyland Ltd., Voltas Ltd., Max Financial Services Ltd., and JB Chemicals & Pharmaceuticals Ltd. are the fund’s top five holdings. According to its past performance, the fund received a 5-star rating from Value Research and is actively doing well in terms of generating returns. The fund has a 94.5 percent equity holding and a 6.5 percent debt exposure and as of October 14, 2021 it has a Net Asset Value (NAV) of Rs 49.03 and AUM of Rs 3,060.29 Cr.

The product has an exit load of 0.5 percent if units more than 10% of the investment value are redeemed within 90 days of the purchased date. SIPs in this fund can be commenced with as little as Rs 1000 per month.

Axis Midcap Direct Plan-Growth

Axis Midcap Direct Plan-Growth

Axis Midcap Direct Plan-Growth returns for the last year are 74.31 percent, and it has generated 22.44 percent average annual returns since inception according to the data of Groww. The fund’s expense ratio is 0.49 percent, which is lower than that of most other funds in the same category.

The fund’s equity exposure is spread across the Financial, Technology, Chemicals, Services, and Healthcare sectors. Cholamandalam Investment & Finance Co. Ltd., NIIT Technologies Ltd., MindTree Ltd., Bajaj Finance Ltd., and Astral Poly Technik Ltd. are the fund’s top five holdings.

Value Research has rated the fund 5-star, indicating its past performance excellence in terms of generating risk-adjusted returns. The fund has a 94.90 percent equity holding and a 4.7 percent debt exposure, with a Net Asset Value (NAV) of Rs 81.54 and an AUM of Rs 15,394.86 Cr as of October 14, 2021.

If units of more than 10% of the investment value are redeemed within one year of the purchase date, the fund carries a 1% exit load. SIPs can be started in this fund with an amount of Rs 500 only.

2 Mid Cap Funds For SIP In 2021 Based On 5-Star Rating of Value Research

2 Mid Cap Funds For SIP In 2021 Based On 5-Star Rating of Value Research

The performance of the two above-mentioned mid-cap funds is illustrated below which you can consider for starting SIP in 2021 relying on Value Research’s 5-star rating.

Funds 1 mth returns 6 mth returns 1 Yr returns 3 Yr returns 5 Yr returns Annualized returns since inception
PGIM India Midcap Opportunities Fund Direct-Growth 5.30% 44.72% 99.88% 40.15% 22.77% 22.38%
Axis Midcap Direct Plan-Growth 5.70% 37.57% 74.31% 31.92% 23.29% 22.44%
Source: Groww

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Disclaimer

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Millennials pull crypto out of the shadows in India, BFSI News, ET BFSI

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In hundreds of India’s small cities and towns, a generation that has hardly had any experience with stocks and bonds is heading straight for Bitcoin, Ethereum, Cardano and Solana. The average age of the 11 million users of CoinSwitch Kuber, a cryptocurrency trading app that didn’t exist 18 months ago, is 25, and 55% of them are from outside large metropolises like New Delhi or Mumbai.

Widespread acceptance of digital tokens by millennials and Generation Z is helping the industry step out of the shadows, a far cry from 2018 when the cofounders of a crypto exchange were briefly in police custody for daring to put up a kiosk in a Bangalore shopping mall where people could swap their Bitcoin for money. Now trading is all very public, and highly visible. CoinSwitch Kuber has signed up a popular Bollywood youth icon for an ad campaign with the tagline, “Kucch toh badlega” — something will change.

For CoinSwitch, which started out as a an aggregator of best real-time prices for digital assets around the world, something already has. In 2018, the fledgling venture couldn’t play on its home turf because India’s monetary authority had instructed banks not to entertain customers who dealt in virtual currency. It was only in March last year that the Supreme Court overturned the ban. CoinSwitch, whose app was released in June, acquired 11 million customers in 16 months. Investors took notice of the startup: It recently became the first in the country to raise money from Silicon valley venture capitalist Andreessen Horowitz, at a valuation of $1.9 billion.

Having gone mainstream in such a short time, the industry itself is demanding to be regulated. “We’ve decided that we’ll show our faces,” says Ashish Singhal, one of CoinSwitch’s three cofounders. “Even if regulation harms our business in the short run, it’s better than being forced to operate in a gray area with little certainty and not much room for growth.”

Fears of being outlawed have swirled since last year’s court order that gave the dying industry new life. But that risk is now receding. While Beijing last month announced, in most unequivocal terms, its resolve to root out all transactions in virtual currencies, the consensus opinion is that New Delhi will hesitate to take such an extreme step. That’s partly because the relationship between private business and the state is different in India, where politicians need corporate donations to fight expensive elections, and citizens don’t like being told by the government whether tutoring, online gaming — or owning crypto assets — is bad for them.

But in part the industry’s confidence stems from the belief that policy makers have been persuaded of benefits to the economy from blockchain-based innovation. iSPIRT, an influential Bangalore-based think tank, is advising India to embrace the growing field of decentralized finance to close a $250 billion funding gap for small and midsize firms, and build a Wall Street for all on the internet, as Balaji Srinivasan, formerly the chief technology officer at Coinbase Global Inc., the largest U.S.-based crypto exchange, describes it.

“We, as a country, missed out on internet 1.0,” says Singhal. “We gave world-class talent to Google and Microsoft, including their current CEOs, but we didn’t create those titans. With blockchain, we can build some global giants.”

Still, mass adoption of crypto trading continues to make authorities — especially the central bank — uncomfortable. CoinSwitch isn’t the only firm employing celebrity endorsement to drum up business ahead of Diwali, the traditional gold-buying season. According to Bloomberg News, officials recently met with Amitabh Bachchan to inform the Bollywood superstar of their concerns over his brand-ambassador deal with CoinDCX, another Indian crypto exchange.

The current speculative fervour could use some tamping, though it’s too late to try anything more draconian. Putting an entire asset class off limits won’t be fair to Generation Z investors. They have “grown up on the internet,” says Sharan Nair, CoinSwitch’s chief business officer. “Many are techies like us who like to solve problems in the crypto world by contributing code. What can they do as shareholders of a bank whose website they don’t like?”

About 83% of urban Indians are aware of digital currencies, while 16% actually own them, according to a survey by data analytics firm Kantar. Many more want to — the draw of crypto is now half as powerful as that of mutual funds, a product with which older generations have a far deeper familiarity. That offers a glimpse of what investor portfolios will look like in future: A mix of digital assets and traditional financial products. Even without the reflected light of Bollywood stars, India’s crypto industry isn’t going dark again.



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Acute shortage of crypto experts leads to hike in remuneration in India’s blockchain industry, BFSI News, ET BFSI

Personal Finance

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The number of active job openings in India’s blockchain industry has increased by 50 per cent since last year with 12,000 vacancies, according to Xpheno’s report, an Indian specialist talent solutions company.

The annual salary in the crypto industry has shot up to Rs 80 lakhs for crypto experts with 8 to 10 years of experience, according to the Xpheno report.

Kamal Karanth, the co-founder of Xpheno said that the mainstream visibility and talent-related progress of the crypto industry is still in its nascent stages, despite the industry being 12 years old.

The reason for such a sharp hike in remuneration is attributed to the shortage of a crypto talent base in India and abroad.

It is pushing up the salaries in Indian companies engaged with the global and domestic blockchain industry, the Economic Times reported.

Some other important findings about India’s crypto talent deficit in the Xpheno report are:

* Companies in the blockchain industry mostly search for employees having knowledge and experience in blockchain, machine learning, security solutions, Ripplex solutions, data analysis and front and back-end skills.

According to the Xpheno report, there is a 30 to 60 per cent shortage of skill-set with these specialisations.

* In niche skill areas such as data science and cybersecurity, the shortage is as high as 50 to 70 per cent.

* Karanth has predicted that the shortage of crypto-skilled workforce and the competition in wages will persist for the next two years.

In another report prepared by Nasscom, chamber of commerce of the trade industry in India and WazirX, the Indian crypto exchange, the following findings emerged about job vacancies in the crypto industry:

* Around 50,000 professionals are employed in India’s crypto industry currently.

* According to Sangeeta Gupta, senior vice president at Nasscom, a 30 percent increase in new jobs is expected in the coming months if the sector continues to grow at the current rate.

Since the cryptocurrency domain is still young,, there is a huge gap between the talent and available vacancies. Indian IT companies that are providing services to global clients, fintech start-ups, and consulting firms have been competing for experts in the crypto domain.



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FPIs pull out Rs 19,000 cr from banking, financial stocks in H1; stay cautious in H2, BFSI News, ET BFSI

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Amid the euphoria in the stock markets, the Foreign portfolio investors (FPIs) have pulled out close to Rs 19,000 crore from the banking and financial sectors in the first six months of the current fiscal.

On the other hand, they have raised their exposure on stocks in the defensive sectors such as consumer goods, IT, pharma and telecom.

According to sector-wise FPI flow data compiled from depositories, FPIs pulled out Rs 18,700 crore from the financial services sector between April and September. Of the total outflows, Rs 13,872 crore went from the banking sector while Rs 4,827 crore was pulled out from ‘other financial services’, which covers financial institutions, non-banking finance companies (NBFCs) and housing finance companies (HFCs).

Nifty Bank lagging far behind vis-a-vis Nifty 50 return on a YTD basis, while the leaders are Nifty Metals, Nifty Realty and Nifty IT.

Banking sector

Within the banking sector, the equity segment witnessed an outflow of Rs 12,964 crore during the April-September period while Rs 1,014 crore went out of the debt segment during H1. On the other hand, the other financial services category witnessed an inflow of Rs 1,159 crore in equities and outflow of Rs 5,797 crore from debt in the first six months of the current fiscal.

“A stand out feature of FPI flows in recent weeks is the outflows from banking and inflows into IT. Even though IT is highly valued, this segment is attracting increasing flows since earnings visibility is high in the segment while banking is struggling with poor credit growth and rising asset quality concerns, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

Defensive sectors

FPIs have been investing in defensive sectors due to rising volatility with the ‘household & personal products’ sector witnessed the highest FPI inflows in the last six months at Rs 6,725 crore followed by consumer durables ( Rs 6,580 crore), retailing (Rs 6,340 crore), telecom (Rs 5,773 crore) and insurance ( Rs 2,881 crore).

Though the economy has recovered in the second half, the market participants are having a cautious outlook as there has been no big jump in loan growth and concerns on NPAs remain.

Going forward, volatility in the global markets as well as global slowdown may impact foreign flows moving into Indian shores.

Also, any direction by US Fed towards tapering of the stimulus measures would make FPI flows into emerging markets volatile and at the same time it would be crucial in dictating the direction of foreign flows into Indian equities.



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