Category: Personal Finance

Attractive rates on loans

KMBL is providing low rates on a range of loans throughout the festive season. The interest rate for KMBL’s home loans starts at 6.5 percent per year. Personal loans start at 10.25 percent per annum, property loans at 7.25 percent per annum, and two-wheeler loans at 16.49 percent per annum. Loans against securities, business loans, healthcare finance, and working capital solutions all have competitive interest rates.

There are also unique deals on gold loans, agri finance, construction equipment loans, commercial vehicles, auto loans, and tractor finance that include processing fee exemptions.

Elizabeth Venkataraman, Kotak Mahindra Bank’s Joint President For Consumer, Commercial, and Wealth Marketing, stated, “As we enter the festive season, we are pleased to bring back Khushi ka Season for our customers. As we slowly get back to normalcy, our aim is to spread more cheer by giving our customers access to the best offers, deals and rates, adding more value to their festive purchases. We have also expanded the reach of the festival by tying up with local stores, giving our customers more choices, while at the same time lending support to our neighbourhood shops.”

Features of Kotak Mahindra Bank home loans

Kotak Mahindra Bank provides a range of customized services to its home loan borrowers. For an uninterrupted home loan buying experience, the bank offers zero processing fees on online applications for home loans, doorstep service to get your home loan processed and sanctioned, easy documentation, home loan insurance, online EMI calculator, get an In-Principal sanction letter through online, an option to get in touch with the home loan expert get answers to your inquiries and concerns.

You can get a house loan sanctioned in as little as 24 hours and using your income tax records, Kotak grants in principle authorization of your home loan through a seamless and seamless approach. To apply for a house loan, you’ll need to submit your address proof, age proof, identity proof, banking details, proof of your education credentials, in addition to your Home Loan application form.

Eligibility required to apply for a home loan at Kotak Mahindra Bank

According to the official website of the bank, here are the eligibility criteria that you need to consider while applying for a home loan:

Age:

• Salaried individuals should have an age limit between 18 and 60 years old
• Self Employed individuals should have an age limit between 18 and 65 years old

Gross Income of Resident Indian Individual:

• (Delhi, Mumbai, Bangalore, Pune & Chennai) – Minimum income limit should be Rs.20,000/month.
• (Other cities) – Minimum income limit should be Rs.15,000/month.

Minimum Qualification: If a borrower is employed in a private limited company or partnership firm, he or she should be a graduate. However, there is no such requirement if the candidate works for a public limited company, a multinational corporation, the government, or a public sector organisation.

Home Loan Eligibility Criteria for a Partnership Firm / LLP/Indian Company

• He or she should have been around for at least three years of employment.
• Gross Income of Partnership firm/ LLP/ Indian Company: (Delhi, Mumbai, Bangalore, Pune & Chennai) – Minimum net income limit should be Rs.2,40,000/- p.a.
• (Other cities) – Minimum net income limit should be Rs.1,80,000/- p.a

Home Loan Eligibility Criteria for a Hindu Undivided Family (HUF)

• HUF Karta must be an applicant or co-applicant.
• He or she should have been around for at least three years of employment.
• IT returns of HUF for 3 years are required.
• Net Income of a Hindu Undivided Family should be Rs.2,40,000/-p.a if residing in Delhi, Mumbai, Bangalore, Pune & Chennai and the minimum income should be Rs.1,80,000/- p.a if residing in other cities.

Documents required to apply for a home loan at Kotak Mahindra Bank

The below-listed documents are required to get a home loan from Kotak Mahindra Bank with an interest rate of 6.5%.

For salaried applicants:

• Photograph
• Pan card
• Aadhaar card
• Residence proof
• Salary Slips of last 3 months
• Form 16 and ITR of last 2 years
• Bank statement of the last 6 months
• Bank statement of any other bank a/c (of all applicants whose income is considered) – last 6 months
• Relationship proof
• Details of existing loans if any
• All property documents if any

For Self Employed applicant:

• Bank statement/pass book copy
• Age proof
• Business continuity and income proof
• Job card or job confirmation proof
• Proof of existence of partnership firm/company / HUF / LLP

Kotak Mahindra Bank Floating Home Loan Interest Rates

The applicable interest rates on home loans of Kotak Mahindra Bank are as follows:

Special Balance Transfer Rate (Salaried and Self Employed)

Salaried – Non Balance Transfer

Self Employed – Non Balance Transfer

How to apply for a home loan at Kotak Mahindra Bank?

For borrowers who want to apply for a home loan at Kotak Mahindra Bank with an interest rate of 6.5%, can apply for the same by following the steps listed below:

• Visit https://www.kotak.com/en/personal-banking/loans/home-loan.html and click on “Apply Now”
• Now you will be redirected to the page https://homeloan.kotak.com/app-screen1 where you need to click on “Apply Now” under the “Home Loan” section.
• If you are an existing customer you can click on “Apply Now” and enter CRN & registered mobile number for login.
• If you are a new customer, you can click on “Apply Now” where you are required to enter the mandatory details such as Applicant type, Income type, Resident status, gender, Name as per PAN, email ID, mobile number and alternate mobile number to proceed further.

Buy Tata Motors with upside potential of 17%

Tata Motors (TML) is a car manufacturer from the Tata family that operates in both domestic (PV, CV) and international markets (Jaguar Land Rover i.e. JLR).

ICICI Securities recommends buying this auto stock for a target price of Rs. 450 i.e. an upside of 17 percent from the last closing price of Rs. 3,83.

The scrip is recommended to be bought for a 12 months duration.

India volumes picking up pace, EV optimism persists

According to the brokerage, despite continued semiconductor supply difficulties, TML India reported healthy volumes of 1.7 lakh units in Q2FY22, up 49 percent QoQ. The India PV business produced decade-high quarterly sales of 84,000 units in Q2FY22. In Q2FY22, India CV volumes increased by 73 percent year on year to 86,887 units. JLR wholesale volume was 64,032 units in Q2FY22.

India volumes picking up pace, EV optimism persists

According to the brokerage, despite continued semiconductor supply difficulties, TML India reported healthy volumes of 1.7 lakh units in Q2FY22, up 49 percent QoQ. The India PV business produced decade-high quarterly sales of 84,000 units in Q2FY22. In Q2FY22, India CV volumes increased by 73 percent year on year to 86,887 units. JLR wholesale volume was 64,032 units in Q2FY22.

Target and Valuation

“TML’s stock price has underperformed Nifty Auto index in past five years, having de-grown at ~9% CAGR (~Rs 555 in October 2016).

We maintain BUY on continued EV proactiveness. Target Price and Valuation: Retaining our forward estimates, we now value TML at a revised target price of Rs 450 on an SOTP basis (15x, 3.3x FY23E EV/EBITDA on India, JLR businesses, respectively). We revise upwards our target multiples for India business amid continued outperformance at TML India and is in line with its peers”, the brokerage has said.

Key triggers for future price-performance:

We anticipate a robust 20.9 percent revenue CAGR from FY21 to FY23E, backed by a 17 percent volume CAGR; margins are expected to be 14.9 percent in FY23E, with a 15 percent RoCE.

FCF generation projections based on cost control and efficiency improvements for the ongoing deleveraging push (net automotive debt of | 41,000 crore in FY21)

Buy TCS with upside potential of 15%

Tata Consultancy Services (TCS) is a significant IT services provider with operations in BFSI, communication, manufacturing, retail, and high technology.

ICICI Securities recommends buying this Bluechip stock for a target price of Rs. 4,530 i.e. an upside of 15 percent from the last closing price of Rs. 3,935. The scrip is recommended to be bought for a 12 months duration.

TCS Q2FY22 Results

Revenues increased 2.9 percent quarter over quarter to $6,333 million, with a 4 percent quarter over quarter increase in CC. EBIT margins improved 10 basis points to 25.6 percent. The company’s deal pipeline remains strong at US$7.6 billion.

Target Price and Valuation of TCS

“TCS’ share price has grown by ~3.6x over the past five years (from Rs 1,077 in October 2016 to Rs 3,976 levels in October 2021). We continue to remain positive and retain our BUY rating on the stock. Target Price and Valuation: We value TCS at Rs 4,530 i.e. 34x P/E on FY23E EPS, the brokerage has said.

Key triggers for future price-performance:

• TCS has benefited greatly from the multi-year rise (15-20%) in digital technology.
• Increased outsourcing in Europe, vendor consolidation, and deal pipeline will result in a revenue CAGR of 15.9% from FY21 to FY23E. Industry-leading margins will be maintained; expect margins to grow 190 basis points from FY21 to FY23E.
• Return ratios in the double digits, high cash production, and a comfortable dividend

Disclaimer

The above-listed stocks to buy are picked from the brokerage report. 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 from this article.

Aditya Birla Sunlife AMC makes a week listing, debuting at just Rs. 3 premium at Rs. 715 against the issue price of Rs. 715 per share on the NSE.

After the best listing of the last debuted defence stock, Paras Defence IPO, all eyes will be on the listing of Aditya Birla AMC which is to list today (October 11, 2021). Nonetheless, what warrants healthy listing of a stock with a good premium is the stock fundamentals, subscription interest it garnered as well as the market momentum at the time of listing the scrip.

The IPO of the AMC company opened on September 29, was subscribed 5.25 times on the closing day of the subscription. The Rs 2,768.25-crore initial share sale received bids for 14,59,97,120 shares against 2,77,99,200 shares on offer.

The offer had a fresh issue of up to Rs 440 crore and an offer for sale of up to 15,53,33,330 equity shares. The company’s IPO was placed in a price range of Rs 86-90 per share.

Expectations around listing of Aditya Birla IPO listing

Experts recommended the buy or subscribe rating to the issue to long term investors and short term investor were asked to give it a miss, given only marginal gains expected from the issue.

Take on the company/ IPO as put by experts

4th largest AMC with strong management and fund management skills and producing consistent gains

Cash rich company with good cash flows

As for the negatives are concerned, valuations were on a higher side by 8-10 percent