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The pre-bid meeting for the captioned work was conducted through WebEx meeting on 28.10.2021 at 11.00 AM in presence of the following: For Reserve Bank of India:
Tenderers:
Various points were discussed and clarified by the Bank. Clarification given by the Bank is given as follows:
Above minutes will be the part of the tender. All other terms and conditions of the tender remain same. |
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The Governor, Reserve Bank of India held separate meetings with the MD&CEOs of Public Sector Banks and certain Private Sector Banks on November 2, 2021 through video conference. The meetings were attended by Deputy Governors Shri M. K. Jain, Shri M. Rajeshwar Rao and Shri T. Rabi Sankar. In his opening remarks, the Governor acknowledged the improved financial and operational resilience of the banking sector which impart strength to financial stability. He emphasised the need for banks to continue providing necessary support in the revival of economic activity. He also advised the banks to remain vigilant to any emerging signs of vulnerabilities and take timely remedial measures to mitigate the risks and maintain the stability of not only the institutions themselves but also of the overall financial system. Among other matters, the following issues were discussed in the meetings: 1. Credit flows, especially to micro and small enterprises; 2. Outlook for stressed assets and measures for mitigation; 3. Pricing of risks; 4. Collection efficiencies; 5. Engagement of banks with fin-tech entities; 6. Implementation of certain regulatory measures for ensuring consumer protection. (Yogesh Dayal) Press Release: 2021-2022/1139 |
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On Monday, the rupee had settled at 74.87 against the US dollar.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.06 per cent to 93.94.
“After two days of lacklustre movements, the rupee has appreciated quarter percentage points backed by inflows from IPOs. While overseas markets traded sideways ahead of the US Fed and Bank of England policy meeting this week,” said Dilip Parmar, Research Analyst, HDFC Securities.
Dollar supply remained high on the back of IPOs, while traders may remain light in holiday truncated weeks, Parmar said, adding “Spot USD/INR is expected to trade in a tight range of 74.50 to 75”.
On the domestic equity market front, the BSE Sensex fell 109.40 points or 1.18 per cent to end at 60,029.06, while the broader NSE Nifty declined 40.70 points or 0.23 per cent to 17,888.95.
Brent crude futures, the global oil benchmark, rose 0.27 per cent to USD 84.94 per barrel.
Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 202.13 crore, as per exchange data.
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HDFC Bank will identify potential startups as well as SMEs and help them to partner with intermediaries like merchant bankers, chartered accountants and lawyers to list on BSE.
Both the parties have agreed to conduct and participate in joint outreach activities and contribute to each other’s publications on the startup ecosystem in India.
“Through this MoU (Memorandum of Understanding), we aim to resolve funding constraints for startups and SMEs in India. BSE along with HDFC Bank shall work together to create a sustainable ecosystem for startups and SMEs,” Ajay Thakur, Head, BSE SME and startups, said.
“Startups are reimagining and reshaping the world we live in. At HDFC Bank, we are committed to developing, strengthening and collaborating with the startup community and ecosystem in the country,” said Iqbal Singh Guilani, SVP, Retail Branch Banking, HDFC Bank.
BSE became the first stock exchange to get approval from markets regulator Sebi and had launched its SME platform in March 2012.
So far, 353 companies listed on the BSE SME Platform have raised Rs 3,732 crore from the market, and the total market capitalisation of such firms stood at Rs 38,538 crore. Out of 353 companies, 117 have migrated to BSE Main Board.
BSE is the market leader in this segment, with a market share of 61 per cent.
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Infosys’s Finacle division and IBM have announced that Finacle’s digital banking solution suite will be available on Red Hat OpenShift and IBM Cloud for financial services. This collaboration will help banks scale business transformation, become more agile, and power their growth with an on-demand portfolio of products and services, the companies said. It will also help banks achieve seamless ecosystem connectivity and provide a world-class banking experience for their customers, and enable them to meet required compliance and security requirements, they stated in a press release.
The Finacle solution suite deployment with fully managed Red Hat OpenShift on IBM Cloud for financial services is designed to provide several benefits, including, a significant reduction in the total infrastructure readiness timelines, resulting in a shorter time period for customer onboarding, it added.
Stating that banks can leverage the elastic infrastructure of the cloud deployment for Finacle applications to scale on-demand – significantly improving provisioning efficiency – it claimed that the operations teams’ dependencies on the need for special skills will reduce due to the unified container and cloud management capabilities.
Venkatramana Gosavi, Senior Vice-President and Global Head of Sales and Alliances, Infosys Finacle, said, “The Cloud has evolved from a technical transformation enabler to a business transformation enabler that provides an agile, resilient, and scalable platform for innovation and growth. Given the benefits, cloud adoption is a necessity for financial institutions that aspire to lead the digital transformation race and achieve significant business performance improvements.”
Gaurav Sharma, Vice-President, IBM Cloud and Cognitive Software, said, “At IBM, our mission is to de-risk the financial services industry. With more mission-critical workloads moving to the cloud, the IBM Cloud for Financial Services is designed to help institutions accelerate hybrid cloud adoption and drive revenue growth while addressing the need for security, open innovation, and compliance. With this collaboration, Infosys Finacle joins a growing ecosystem of more than 100 Independent Software Vendors (ISVs), SaaS providers, Global Systems Integrators (GSIs), and Fintechs leveraging the IBM Cloud for financial services.”
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The Reserve Bank of India will conduct a Variable Rate Reverse Repo auction on November 3, 2021, Wednesday, as under:
2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same. Ajit Prasad Press Release: 2021-2022/1138 |
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According to HDFC Securities, the revenue of the said pharmaceutical company has “grown 27% YoY and 23% QoQ at Rs 75.5cr. The company has included Rs 10.4cr in revenue and the same amount in the expenditure side to factor in Food lab expenses and that’s why reported sales growth seems very strong, however, adjusted revenue grew 9.6% YoY at Rs 65.1cr. “
“Adj. EBITDA margin surged 360bps YoY at 30.6%. Better operational performance was led by cost management measures. Net profit increased 29% YoY and 20% QoQ at Rs 9.7cr. It included Rs 1.2cr as an exceptional loss for the quarter. The company has registered robust performance in H1 FY22 and guides to better the performance in the second half of FY22. In Q1 FY22, Vimta set up a regional reference Lab at Kolkata. It would take 2-3 quarters to ramp up. In Q2 FY22, the company has set up a diagnostic lab at Delhi” according to HDFC Securities.
The brokerage has also claimed that “the company has set an ambitious target of revenue of Rs 550-600cr in FY26. It would need to put up CAPEX to reach the targeted revenue number and it would depend upon which category/division would grow at a better rate. It expects the Food testing business to cross Rs 100cr revenue in the next 2 years. National Food Lab (NFL) would have a better margin than average margin. And also it guided for CAPEX of Rs 25-30cr in FY22 and CAPEX of around Rs 30cr in FY23.”
Vimta gets 60% of its revenue from the pharmaceutical sector, 20% from the diagnostics segment, 15% from the food segment, and the rest from other sources. “It supports regulatory authorities in mandatory certification of food and agricultural products exported from India. The company has partnered with the Govt. of India to set up a food laboratory at JNPT, which would drive revenue from FY23. Vimta enjoys a strong quality brand in the country and has a pan India presence offering both routine and specialized clinical diagnostic services. It has a network of 18 laboratories in India, including food testing and clinical diagnostics” the brokerage said.
HDFC Securities has also said that ” Despite the Covid-19 pandemic which impacted revenues in Q1 FY21, the company reported ~17% YoY growth in revenue in FY21. As per the Management, its current capacity can do optimal revenue of around Rs 300-350cr. The company aspires to reach revenue of > Rs 500cr by FY26 which implies around 20% CAGR in revenue over FY21-26E. The year FY22 will be the maiden year for the newly launched EMI/EMC services to IT, defence suppliers, medical devices, telecom, electronics and allied industries. EMI/EMC Testing (electromagnetic interference/compatibility) business enjoys high gross margin as consumables cost remains low however when it reaches maturity stage, it would give almost company level EBITDA margin. We believe the segment would drive revenue and profitability from FY23 onwards.”
According to HDFC Securities “The future growth pillar of the company comprises continued growth momentum in Pharma and Food segment and scale-up of its new segment i.e. EMI/EMC testing. Vimta is one of the largest players in India in its business segments. We estimate revenue/EBITDA/PAT CAGR of 22.5%/32%/47% over FY21-23E. Management guided for > 20% CAGR in revenue in the next 4-5 years.”
“Company expects all the segments to register strong growth in the next 3-4 years. Management has an ambitious target of revenue of Rs 550-600cr in FY26. It would need to put up CAPEX to reach the targeted revenue number and it would depend upon which category/division would grow at a better rate. The company guided for CAPEX of Rs 25-30cr in FY22 and CAPEX of around Rs 30cr in FY23. The company expects the Food testing business to cross Rs 100cr revenue in the next 2 years. National Food Lab (NFL) would have better margin than average margin” the brokerage further reported.
“Veeda clinical is one of the competitors in one of Vimta’s business segments. Veeda Clinical Research Ltd, a comparable Clinical Research Organisation, reported revenue of Rs 196cr, EBIDTA of Rs 66.5cr and PAT of Rs.62.9cr in FY21. In Jun-2021, It raised funds from Private Equity Investors at a Valuation of Rs 989cr. Veeda Clinical Research Pvt. Ltd has filed IPO Prospectus with SEBI to raise Rs 832cr at a significant premium valuation and seeking a much higher multiple. We feel investors can buy the stock at LTP and add on declines at Rs 302.5 (14.5x FY23E EPS) for a base case target of Rs 386 (18.5x FY23E EPS) and a bull case target of Rs 417.5 (20x FY23E EPS) over the next two quarters” claimed HDFC Securities.
The above stock is picked from the brokerage report of HDFC Securities. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.
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Its total income during July-September 2021 rose to Rs 20,683.95 crore as compared with Rs 20,182.62 crore in the year-ago period, the bank said in a regulatory filing.
Provisionings for bad loans and contingencies fell to Rs 3,723.76 crore, against Rs 4,242.45 crore a year ago.
The bank’s asset quality improved with the gross non-performing assets falling to 12.64 per cent of the gross advances by the end of September 2021, from 14.71 per cent by the end of September 2020.
In terms of value, the gross non-performing assets (NPAs) were worth Rs 80,211.73 crore, down from Rs 95,796.90 crore.
However, net NPAs increased slightly to 4.61 per cent (Rs 26,786.42 crore), from 4.13 per cent (Rs 23,894.35 crore) a year ago.
On a consolidated basis, the bank reported a net profit of Rs 1,510.68 crore in July-September 2021, a jump of 183 per cent from Rs 533.87 crore in the year-ago quarter.
Its consolidated total income rose to Rs 21,621.87 crore, from Rs 20,910.91 crore a year ago.
Shares of Union Bank of India on Tuesday closed at Rs 49.40 apiece on the BSE, up 5.89 per cent from the previous close.
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Ajit Prasad Press Release: 2021-2022/1137 |
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