Reserve Bank of India – Press Releases
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Ajit Prasad Press Release: 2021-2022/1028 |
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10 Best Dividend-Paying Penny Stocks In India
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SJVN
The Satluj Jal Vidyut Nigam, or SJVN, is an Indian government-owned company that generates and transmits hydroelectric power.
Only 0.71 percent of trading sessions in the last 11 years had intraday gains of more than 5%. The stock returned 5.47 percent over three years, compared to 96.44 percent for the Nifty Midcap 100. Over a three-year period, the stock returned 5.47 percent, whereas the S&P BSE Power provided investors a 75.42 percent gain. SJVN Ltd., founded in 1988, is a Mid Cap business in the Power sector with a market capitalization of Rs 11,082.02 crore.
SJVN Ltd. has declared an equity dividend of Rs 2.20 per share in the last 12 months. Since September 1, 2010, SJVN Ltd. has issued 19 dividends. This equates to a dividend yield of 7.8 percent at the current share price of Rs 28.20.
Steel City Securities
Steel City Securities Limited is a stockbroking firm that deals with regular investors. The company offers a wide range of financial goods and services, including mutual fund distribution, fixed income, initial public offerings (IPOs), and corporate debt, as well as securities and commodity trading.
Steel City Securities Ltd., founded in 1995, is a Small Cap business in the Financial Services industry with a market cap of Rs 90.11 crore. Stock returned -15.05 percent during a three-year period, compared to 96.41 percent for the Nifty Smallcap 100. Since March 21, 2017, Steel City Securities Ltd. has declared 13 dividends.
Steel City Securities Ltd. has issued an equity dividend of Rs 3.00 per share in the last 12 months. This equals a dividend yield of 5.03 percent at the current share price of Rs 59.65.
Choksi Imaging
Choksi Imaging Ltd., founded in 1992, is a Small Cap company in the Miscellaneous category with a market capitalization of Rs 19.60 crore. Since the last five years, the company has had no debt. Photographic items are offered by Choksi Imaging Limited. X-ray films, chemicals, and accessories, as well as ultrasound and colour doppler, are all available from the company.
Choksi Imaging Ltd., founded in 1992, is a Small Cap company in the Miscellaneous category with a market capitalization of Rs 19.60 crore. Since the last five years, the company has had no debt. Photographic items are offered by Choksi Imaging Limited. X-ray films, chemicals, and accessories, as well as ultrasound and colour doppler, are all available from the company.
Gothi Plascon
Sales have decreased by 6.41 percent. For the first time in three years, the company’s revenue has decreased. Gothi Plascon (India) Ltd., founded in 1994, is a Small Cap company in the Plastics industry with a market capitalization of Rs 25.30 crore. Since March 26, 2020, Gothi Plascon (India) Ltd. has declared two dividends. It has issued an equity dividend of Rs 1.00 per share in the last 12 months.
This equates to a dividend yield of 4.03 percent at the current share price of Rs 24.80.
Rail Vikas
Since September 6, 2019, Rail Vikas Nigam Ltd. has issued three dividends. Rail Vikas Nigam Ltd. has declared an equity dividend of Rs 2.28 per share in the last 12 months. This equates to a dividend yield of 7.52 percent at the current share price of Rs 30.30. Rail Vikas Nigam Limited is a subsidiary of Indian Railways, Ministry of Railways, Government of India, which is responsible for developing rail infrastructure for the railways.
TCFC Finance
TCFC Finance Ltd., founded in 1990, is a Small Cap business in the Financial Services industry with a market capitalization of Rs 43.82 crore. Since the last five years, the company has had no debt. The company’s annual sales increase of 772.13% surpassed its three-year compound annual growth rate of -43.79 percent. Since July 15, 2004, TCFC Finance Ltd. has declared 13 dividends.
TCFC Finance Ltd. has issued an equity dividend of Rs 1.50 per share in the last 12 months. This equates to a dividend yield of 3.65% at the current share price of Rs 41.15.
Pressman Advertising
Pressman Advertising Ltd., founded in 1983, is a Small Cap company in the Media & Entertainment sector with a market capitalization of Rs 69.98 crore. Since the last five years, the company has had no debt. In comparison to the Nifty Smallcap 100, which returned 96.41 percent over three years, the stock returned -12.65 percent. In comparison to the Nifty Smallcap 100, which returned 96.41 percent over three years, the stock returned -12.65 percent.
Sumedha Fiscal
In the fiscal year ended March 31, 2021, PrCompany generated an ROE of 18.44 percent, surpassing its five-year average of 8.65 percent. Revenue increased by 57.41 percent year over year, the greatest in the prior three years. The stock returned 39.52 percent over three years, compared to 96.41 percent for the Nifty Smallcap 100. The company’s yearly sales growth of 10.59 percent surpassed its three-year compound annual growth rate (CAGR) of -2.65 percent.
Jullundur Motor
Since the last five years, the company has had no debt. Revenue fell 47.73 percent on a quarter-over-quarter basis, the lowest level in the last three years. The stock returned 95.01 percent over three years, compared to 96.41 percent for the Nifty Smallcap 100. Over a three-year period, the stock returned 95.01 percent, while the Nifty Auto provided investors a 26.87 percent return.
Jullundur Motor Agency (Delhi) Ltd., founded in 1948, is a Small Cap company in the Auto Ancillaries sector with a market cap of Rs 144.70 crore.
B N Rathi Securities
B N Rathi Securities Ltd., founded in 1985, is a Small Cap firm in the Financial Services industry with a market capitalization of Rs 19.20 crore. In the fiscal year ended March 31, 2021, the company generated a return on equity of 14.64 percent, surpassing its five-year average of 11.21 percent. Annual sales growth of 25.3 percent surpassed the company’s three-year CAGR of 3.65 percent. The stock returned 35.33 percent over three years, compared to 96.41 percent for the Nifty Smallcap 100.
10 Best Dividend-Paying Penny Stocks In India
| Company | Price in Rs | Dividend Yield |
| SJVN | 28.20 | 7.8% |
| Steel City Securities | 60.15 | 4.99% |
| Choksi Imaging | 50.50 | 4.95% |
| Gothi Plascon | 26 | 3.85% |
| Rail Vikas | 30.15 | 7.56% |
| TCFC Finance | 41.15 | 3.65% |
| Pressman Advertising | 29.35 | 3.44% |
| Sumedha Fiscal | 30.75 | 3.25% |
| Jullundur Motor | 63.40 | 3.15% |
| B N Rathi Securities | 39.10 | 3.07% |
Disclaimer
Please note investing in penny 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.
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Reserve Bank of India – Press Releases
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The Reserve Bank of India (RBI) in exercise of the powers vested under section 45MAA of the Reserve Bank of India Act, 1934, has, by an order dated September 23, 2021, debarred M/s Haribhakti & Co. LLP, Chartered Accountants (ICAI Firm Registration No. 103523W / W100048), from undertaking any type of audit assignment/s in any of the entities regulated by RBI for a period of two years with effect from April 1, 2022. This action has been taken on account of the failure on the part of the audit firm to comply with a specific direction issued by RBI with respect to its statutory audit of a Systemically Important Non-Banking Financial Company. 2. This will not impact audit assignment/s of M/s Haribhakti & Co. LLP in RBI regulated entities for the financial year 2021-22. (Yogesh Dayal) Press Release: 2021-2022/1027 |
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Five foreign investors shortlisted for majority stake in Yes Bank-backed ARC, BFSI News, ET BFSI
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Five foreign investors have made presentations to the Yes Bank management to form a new joint venture asset reconstruction company (ARC) which will house the lender’s non performing assets (NPAs), three people familiar with the development said.
The investors which have made presentations include Los Angeles based $149 billion Ares-SSG Capital, $15 billion alternative investment firm Varde Partners, US based $55 billion Ceberus Capital and distressed asset giants $156 billion Oaktree Capital and private equity company JC Flowers, three people familiar with the move said. Individual investors and Yes Bank could not be immediately reached.
Yes Bank will likely hold a minority share in the proposed ARC in line with Reserve Bank of India (RBI) directions. The selected investor is likely to hold a majority as much as 80% to 85% in the new venture, one of the persons said. EY is helping Yes Bank with the process.
“The model is more of a NARC type. Banks are not encouraged to hold a major share in any ARC. That’s why they are selling it,” said a second senior executive involved in the matter.
He was referring to the government backed National Asset Reconstruction Co (NARC) which has been formed to resolve legacy bad loans from the banking sector.
“Investors have not yet been officially informed about the short listed firms so the process will take some more before the partner is selected,” said a third person familiar with the matter.
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Kotak Mahindra Bank launches Micro ATMs across India, BFSI News, ET BFSI
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To deliver essential banking services conveniently to a larger section of consumers living in relatively far-off areas, private lender Kotak Mahindra Bank Ltd on Tuesday announced the launch of Micro ATMs across the country.
Customers of all banks who possess a debit card can use a Kotak Micro ATM for key banking services such as cash withdrawals and checking account balances. A mini version of an ATM, micro ATMs are small handheld devices. The bank will use its extensive Business Correspondents (BC) network to launch micro ATMs.
“The micro ATM is a simple, innovative and highly effective solution to deliver essential banking services such as cash withdrawals in a convenient manner to people residing in relatively remote locations,” said Puneet Kapoor, President – Products, Alternate Channels and Customer Experience Delivery, Kotak Mahindra Bank. “It is a viable alternative to a regular ATM, allowing for faster expansion and increasing banking touchpoints for consumers. Kotak’s network of micro ATMs across the country will help customers of all banks (Kotak and non-Kotak customers) get easy access to their bank accounts and promote financial inclusion.”
At the end of August, there were 2.13 lakh ATMs in the country, up from 2.09 lakh same time last year, a meagre growth of 1.5%. On the flip side, micro-ATMs have grown to 4.94 lakh as against 3.07 lakh in August last year, a rise of over 60%.
In the first phase, Kotak Mahindra Bank is introducing micro ATMs in the outskirts of the top 8 metro cities – locations where the demand for cash withdrawal services is high but the prevalence of ATMs is low.
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This Savings Account Can Give You Returns Up To 6% More Than SBI: Here’s How
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Airtel Payments Bank Savings Account Interest Rates
Opening a savings account with Airtel Payments Bank is completely a digital process through a video-based KYC process from the Airtel Thanks app and you will get over 5 Lac banking points to manage your accounts, complimentary personal accident insurance cover of Rs. 1 Lac, no minimum balance requirement, free Virtual Debit Card, and a plethora of services including easy cash deposit/withdrawal facility at more than 1 Lac ATMs in the country, money transfer service, mobile/DTH recharges, utility bill payments, online/offline shopping, and a multitude of facilities.
Apart from the aforementioned perks, Airtel Payments Bank offers an annual interest rate of 2.5 percent for end-of-day balances up to 1 lakh and 6% for balances over 1 lakh and up to 2 lakhs. Customers can earn considerably better returns if we compare these interest rates to the State Bank of India’s (SBI) savings account interest rates.
SBI is now giving a 2.70 percent interest rate on deposit accounts with balances up to Rs. 1 lakh and a 2.75 percent interest rate on deposits with balances beyond Rs. 1 lakh. Apart from these rates, SBI is presently offering a fixed deposit interest rate of 5.40 percent, which implies that customers who establish a savings account with Airtel Payments Bank would receive higher interest rates on their deposits than customers who open a savings account or fixed deposit account with SBI. With effect from May 1, 2021, Airtel Payments Bank is offering the below-framed interest rates on savings accounts.
| Rs 1-2 lakhs | 6% p.a. |
|---|---|
| Upto Rs 1 lakh | 2.5% p.a. |
| Source: airtel.in |
Service charges of Airtel Payments Bank savings account
The service charges for Airtel Payments Bank Savings Bank Accounts are listed below.
| Service | Fee/Charges (Rs) |
|---|---|
| Account Opening | Rs. 50 |
| Cash Deposit / Load Cash (Internet banking, Mobile App) | Free |
| Cash Deposit / Load Cash (Banking Points) | For amounts Rs.0 – Rs.25,000: Free. Rs.25,000 – Rs.50,000: 0.5% of the deposit amount. Beyond Rs.50,000: 0.75% of the deposit amount |
| Cash Withdrawal | Rs.0 – Rs.10,000 (cumulative transactions per month): Free. Beyond Rs.10,000: 0.65% of withdrawal amount |
| Cardless Cash withdrawal via IMT ( app only) | Self-withdrawal and Send money to Others: Free |
| Cash Withdrawal via AEPS | 2 Transactions/Day(max), 10 Transactions/Month or Rs 50,000 Cash Withdrawal per Month ( Whichever is Minimum), Rs. 10,000 per transaction(Max) |
| Payment for IRCTC Train Booking (via Airtel Thanks App) | 1.8% of the ticket fare (exclusive of GST) |
| Funds Transfer | Charges |
| Within Airtel Payments Bank (Internet banking, Mobile App & USSD) | Free |
| From Airtel Payments Bank to another Bank (Internet banking, Mobile App & USSD)-IMPS | 1% of amount transferred |
| From Airtel Payments Bank to another Bank (Internet banking, Mobile App & USSD) – NEFT | Free |
| Source: airtel.in |
Airtel Payments Bank savings account cash withdrawal and deposit limit
| Description | Limits |
|---|---|
| Minimum Cash Deposit Amount | 10 |
| Minimum Cash Withdrawal Amount | 10 |
| Minimum Amount for Funds Transfer (Mobile App) | 10 |
| Maximum Cash Withdrawal per transaction | 25,000 |
| Maximum Savings Account Balance | 2,00,000 (*terms and conditions apply) |
| Maximum Money can be added using same Debit Card per transaction | 25,000 |
| Maximum number of transactions allowed per month | 10,000 |
| For customers where cumulative load in last 60 days is greater than INR 50,000 | 2,000 per transaction using Net Banking or Debit Card |
| Money Transfer To Airtel Payments Bank Account/Other Account (per day) | 15 |
| Online Transactions using MasterCard (Per Day) | 15 |
| Maximum Amount that can be added by Non-PAN SBA A/c holders (Per Month) | 10,000 |
| Maximum Amount that can be sent by SBA A/c holders without adding beneficiary (Per Month) | 10,000 |
| Source: airtel.in |
Airtel Payments Bank Instant Money Transfer/Cardless Cash Withdrawal Limit
| Description | Limits | |
|---|---|---|
| Per transaction Limit | Monthly Limit ( per sender) | |
| IMT from App Self withdrawal | 10000 | 75000 |
| IMT from App send money to Others | 10000 | 75000 |
| Limits on the receiver end : Self : Rs 1,00,000, Others : Rs 25 ,000 | ||
| Source: airtel.in |
Airtel Payments Bank Domestic Remittance (App & Portal) Charges
| From (Rs) | To (Rs) | Charges (Rs) |
|---|---|---|
| 0 | 1 | 0 |
| 2 | 9 | 1 |
| 10 | 100 | 1 |
| 101 | 1,000 | 10 |
| 1,001 | 1,100 | 11 |
| 1,101 | 1,200 | 12 |
| 1,201 | 1,300 | 13 |
| 1,301 | 1,400 | 14 |
| 1,401 | 1,500 | 15 |
| 1,501 | 1,600 | 16 |
| 1,601 | 1,700 | 17 |
| 1,701 | 1,800 | 18 |
| 1,801 | 1,900 | 19 |
| 1,901 | 2,000 | 20 |
| 2,001 | 2,100 | 21 |
| 2,101 | 2,200 | 22 |
| 2,201 | 2,300 | 23 |
| 2,301 | 2,400 | 24 |
| 24,01 | 2,500 | 25 |
| 2,501 | 2,600 | 26 |
| 2,601 | 2,700 | 27 |
| 2,701 | 2,800 | 28 |
| 2,801 | 2,900 | 29 |
| 2,901 | 3,000 | 30 |
| 3,001 | 3,100 | 31 |
| 3,101 | 3,200 | 32 |
| 3,201 | 3,300 | 33 |
| 3,301 | 3,400 | 34 |
| 3,401 | 3,500 | 35 |
| 3,501 | 3,600 | 36 |
| 3,601 | 3,700 | 37 |
| 3,701 | 3,800 | 38 |
| 3,801 | 3,900 | 39 |
| 3,901 | 4,000 | 40 |
| 4,001 | 4,100 | 41 |
| 4,101 | 4,200 | 42 |
| 4,201 | 4,300 | 43 |
| 4,301 | 4,400 | 44 |
| 4,401 | 4,500 | 45 |
| 4,501 | 4,600 | 46 |
| 4,601 | 4,700 | 47 |
| 4,701 | 4,800 | 48 |
| 4,801 | 4,900 | 49 |
| 4,901 | 5,000 | 50 |
| 5,001 | 5,100 | 51 |
| 5,101 | 5,200 | 52 |
| 5,201 | 5,300 | 53 |
| 5,301 | 5,400 | 54 |
| 5,401 | 5,500 | 55 |
| 5,501 | 5,600 | 56 |
| 5,601 | 5,700 | 57 |
| 5,701 | 5,800 | 58 |
| 5,801 | 5,900 | 59 |
| 5,901 | 6,000 | 60 |
| 6,001 | 6,100 | 61 |
| 6,101 | 6,200 | 62 |
| 6,201 | 6,300 | 63 |
| 6,301 | 6,400 | 64 |
| 6,401 | 6,500 | 65 |
| 6,501 | 6,600 | 66 |
| 6,601 | 6,700 | 67 |
| 6,701 | 6,800 | 68 |
| 6,801 | 6,900 | 69 |
| 6,901 | 7,000 | 70 |
| 7,001 | 7,100 | 71 |
| 7,101 | 7,200 | 72 |
| 7,201 | 7,300 | 73 |
| 7,301 | 7,400 | 74 |
| 7,401 | 7,500 | 75 |
| 7,501 | 7,600 | 76 |
| 7,601 | 7,700 | 77 |
| 7,701 | 7,800 | 78 |
| 7,801 | 7,900 | 79 |
| 7,901 | 8,000 | 80 |
| 8,001 | 8,100 | 81 |
| 8,101 | 8,200 | 82 |
| 8,201 | 8,300 | 83 |
| 8,301 | 8,400 | 84 |
| 8,401 | 8,500 | 85 |
| 8,501 | 8,600 | 86 |
| 8,601 | 8,700 | 87 |
| 8,701 | 8,800 | 88 |
| 8,801 | 8,900 | 89 |
| 8,901 | 9,000 | 90 |
| 9,001 | 9,100 | 91 |
| 9,101 | 9,200 | 92 |
| 9,201 | 9,300 | 93 |
| 9,301 | 9,400 | 94 |
| 9,401 | 9,500 | 95 |
| 9,501 | 9,600 | 96 |
| 9,601 | 9,700 | 97 |
| 9,701 | 9,800 | 98 |
| 9,801 | 9,900 | 99 |
| 9,901 | 10,000 | 100 |
| 10,001 | 10,100 | 101 |
| 10,101 | 10,200 | 102 |
| 10,201 | 10,300 | 103 |
| 10,301 | 10,400 | 104 |
| 10,401 | 10,500 | 105 |
| 10,501 | 10,600 | 106 |
| 10,601 | 10,700 | 107 |
| 10,701 | 10,800 | 108 |
| 10,801 | 10,900 | 109 |
| 10,901 | 11,900 | 110 |
| 11,001 | 11,100 | 111 |
| 11,101 | 11,200 | 112 |
| 11,201 | 11,300 | 113 |
| 11,301 | 11,400 | 114 |
| 11,401 | 11,500 | 115 |
| 11,501 | 11,600 | 116 |
| 11,601 | 11,700 | 117 |
| 11,701 | 11,800 | 118 |
| 11,801 | 11,900 | 119 |
| 11,901 | 12,000 | 120 |
| 12,001 | 12,100 | 121 |
| 12,101 | 12,200 | 122 |
| 12,201 | 12,300 | 123 |
| 12,301 | 12,400 | 124 |
| 12,401 | 12,500 | 125 |
| 12,501 | 12,600 | 126 |
| 12,601 | 12,700 | 127 |
| 12,701 | 12,800 | 128 |
| 12,801 | 12,900 | 129 |
| 12,901 | 13,000 | 130 |
| 13,001 | 13,100 | 131 |
| 13,101 | 13,200 | 132 |
| 13,201 | 13,300 | 133 |
| 13,301 | 13,400 | 134 |
| 13,401 | 13,500 | 135 |
| 13,501 | 13,600 | 136 |
| 13,601 | 13,700 | 137 |
| 13,701 | 13,800 | 138 |
| 13,801 | 13,900 | 139 |
| 13,901 | 14,000 | 140 |
| 14,001 | 14,100 | 141 |
| 14,101 | 14,200 | 142 |
| 14,201 | 14,300 | 143 |
| 14,301 | 14,400 | 144 |
| 14,401 | 14,500 | 145 |
| 14,501 | 14,600 | 146 |
| 14,601 | 14,700 | 147 |
| 14,701 | 14,800 | 148 |
| 14,801 | 14,900 | 149 |
| 14,901 | 15,000 | 150 |
| 15,001 | 15,100 | 151 |
| 15,101 | 15,200 | 152 |
| 15,201 | 15,300 | 153 |
| 15,301 | 15,400 | 154 |
| 15,401 | 15,500 | 155 |
| 15,501 | 15,600 | 156 |
| 15,601 | 15,700 | 157 |
| 15,701 | 15,800 | 158 |
| 15,801 | 15,900 | 159 |
| 15,901 | 16,000 | 160 |
| 16,001 | 16,100 | 161 |
| 16,101 | 16,200 | 162 |
| 16,201 | 16,300 | 163 |
| 16,301 | 16,400 | 164 |
| 16,401 | 16,500 | 165 |
| 16,501 | 16,600 | 166 |
| 16,601 | 16,700 | 167 |
| 16,701 | 16,800 | 168 |
| 16,801 | 16,900 | 169 |
| 16,901 | 17,000 | 170 |
| 17,001 | 17,100 | 171 |
| 17,101 | 17,200 | 172 |
| 17,201 | 17,300 | 173 |
| 17,301 | 17,400 | 174 |
| 17,401 | 17,500 | 175 |
| 17,501 | 17,600 | 176 |
| 17,601 | 17,700 | 177 |
| 17,701 | 17,800 | 178 |
| 17,801 | 17,900 | 179 |
| 17,901 | 18,000 | 180 |
| 18,001 | 18,100 | 181 |
| 18,101 | 18,200 | 182 |
| 18,201 | 18,300 | 183 |
| 18,301 | 18,400 | 184 |
| 18,401 | 18,500 | 185 |
| 18,501 | 18,600 | 186 |
| 18,601 | 18,700 | 187 |
| 18,701 | 18,800 | 188 |
| 18,801 | 18,900 | 189 |
| 18,901 | 19,000 | 190 |
| 19,001 | 19,100 | 191 |
| 19,101 | 19,200 | 192 |
| 19,201 | 19,300 | 193 |
| 19,301 | 19,400 | 194 |
| 19,401 | 19,500 | 195 |
| 19,501 | 19,600 | 196 |
| 19,601 | 19,700 | 197 |
| 19,701 | 19,800 | 198 |
| 19,801 | 19,900 | 199 |
| 19,901 | 20,000 | 200 |
| 20,001 | 20,100 | 201 |
| 20,101 | 20,200 | 202 |
| 20,201 | 20,300 | 203 |
| 20,301 | 20,400 | 204 |
| 20,401 | 20,500 | 205 |
| 20,501 | 20,600 | 206 |
| 20,601 | 20,700 | 207 |
| 20,701 | 20,800 | 208 |
| 20,801 | 20,900 | 209 |
| 20,901 | 21,000 | 210 |
| 21,001 | 21,100 | 211 |
| 21,101 | 21,200 | 212 |
| 21,201 | 21,300 | 213 |
| 21,301 | 21,400 | 214 |
| 21,401 | 21,500 | 215 |
| 21,501 | 21,600 | 216 |
| 21,601 | 21,700 | 217 |
| 21,701 | 21,800 | 218 |
| 21,801 | 21,900 | 219 |
| 21,901 | 22,000 | 220 |
| 22,001 | 22,100 | 221 |
| 22,101 | 22,200 | 222 |
| 22,201 | 22,300 | 223 |
| 22,301 | 22,400 | 224 |
| 22,401 | 22,500 | 225 |
| 22,501 | 22,600 | 226 |
| 22,601 | 22,700 | 227 |
| 22,701 | 22,800 | 228 |
| 22,801 | 22,900 | 229 |
| 22,901 | 23,000 | 230 |
| 23,001 | 23,100 | 231 |
| 23,101 | 23,200 | 232 |
| 23,201 | 23,300 | 233 |
| 23,301 | 23,400 | 234 |
| 23,401 | 23,500 | 235 |
| 23,501 | 23,600 | 236 |
| 23,601 | 23,700 | 237 |
| 23,701 | 23,800 | 238 |
| 23,801 | 23,900 | 239 |
| 23,901 | 24,000 | 240 |
| 24,001 | 24,100 | 241 |
| 24,101 | 24,200 | 242 |
| 24,201 | 24,300 | 243 |
| 24,301 | 24,400 | 244 |
| 24,401 | 24,500 | 245 |
| 24,501 | 24,600 | 246 |
| 24,601 | 24,700 | 247 |
| 24,701 | 24,800 | 248 |
| 24,801 | 24,900 | 249 |
| 24,901 | 25,000 | 250 |
| The maximum amount per sender is Rs 25,000 per month, Source: airtel.in |
Airtel Payments Bank IMPS Charges
Airtel Payments Bank Service Charges have been imposed on all IMPS Outgoing Transactions via B2B Portal commencing from March 18, 2021.
| IMPS Slab | Charges |
|---|---|
| Upto Rs 25000 | Rs 2.5 +GST |
| Above Rs 25000 upto Rs 200000 | Rs 8 +GST |
| Source: airtel.in |
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RBI debars Haribhakti & Co from undertaking audit assignments in central bank regulated entities
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The Reserve Bank of India (RBI) has debarred Haribhakti & Co. LLP, Chartered Accountants, from undertaking any type of audit assignments in any of the entities regulated by RBI for a period of two years with effect from April 1, 2022.
This is the first case of debarment of a CA firm under section 45MAA of the Reserve Bank of India Act, 1934.
“This action has been taken on account of the failure on the part of the audit firm to comply with a specific direction issued by RBI with respect to its statutory audit of a Systemically Important Non-Banking Financial Company,” RBI said in a statement titled “Action against Statutory Auditors of NBFC under section 45MAA of RBI Act, 1934”.
The central bank said its action will not impact audit assignment/s of Haribhakti & Co. LLP in RBI regulated entities for the financial year 2021-22.
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Indian Gold Rate Gained By Rs. 90, On Oct 12, Passed US Employment Data Impact
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Personal Finance
oi-Kuntala Sarkar
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Today, on October 12, Indian gold prices have gained only by Rs. 90/10 grams than yesterday and have passed the immediate impacts of a weak US employment data of September. Today, 22 carat gold rates are quoted at Rs. 46,030/10 grams and 24 carat gold rates are quoted at Rs. 47,030/10 grams. The Comex gold future hiked by 1.20% and was quoted at $1756, while the spot gold prices hiked by 0.23% and were quoted at $1758/oz till 2.04 PM IST. On the other hand, the US dollar index in the spot market fell 0.08% and stayed at 94.29 at the same time. In India, the Mumbai MCX gold in October future gained by 0.30% today till 2.25 PM IST and was quoted at Rs. 47,190/10 grams. However, during the festive season, IBJA is trying to keep the gold rates in a surging position, and in most Indian cities, gold prices have increased marginally.
The international gold rates immediately hiked as the US published weak employment data, expecting the economy is not recovering as fast as was expected. But now, the international rates have again came under pressure as the US bond yield is rising. ABN AMRO senior precious metals strategist Georgette Boele stated in a report.”So far this year, gold prices have declined by 7.5%. The gold price outlook remains negative. We keep our year-end forecast at US $1,700/oz and end of 2022 at US $1,500/oz.”
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 | 46,030/- | 47,030/- |
| Delhi | 46,300/- | 50,510/- |
| Bangalore | 44,150/- | 48,160/- |
| Hyderabad | 44,150/- | 48,160/- |
| Chennai | 44,300/- | 48,320/- |
| Kerala | 44,150/- | 48,160/- |
| Kolkata | 46,500/- | 49,200/- |
“Investors have adjusted their expectations regarding the Fed. They expect the Fed to hike rates quicker than they had earlier expected. Moreover, 2y U.S. Treasury yields and 2y real yields have risen to reflect this. In addition, the U.S. dollar has risen by 5% this year. Gold prices tend to weaken when the dollar rises.” Georgette Boele added in the report, “We expect the Fed to start hiking early 2023.”
Story first published: Tuesday, October 12, 2021, 14:45 [IST]
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Saraswat Bank and Axis Securities tie-up to offer a 3-in-1 account to the lender’s customers
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Saraswat Bank and Axis Securities (ASL) have come together to offer the bank’s customers a 3-in-1 account that comprises savings, demat and online trading, all in one account.
“With this tie-up, Saraswat Bank’s customers can conveniently perform a perfect blend of banking and trading transactions,” the two entities said in a joint statement.
This facility will make it easier for customers to transfer funds quickly, reduce paperwork and most importantly, provide a comprehensive platform to invest in various investment instruments like equities, derivatives, currency, commodities, MF, IPO, etc., per the statement.
Saraswat Bank Chairman Gautam Thakur said this collaboration will broaden and improve his bank’s ability to offer integrated financial solutions to a diverse customer base.
B Gopkumar, MD & CEO, Axis Securities, said in addition to the excellent banking services, Saraswat Bank customers will now have access to a dynamic range of technology-driven investment products to help them achieve their financial goals seamlessly.
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4 Auto Stocks That Continue To Be On Angel Broking ‘Buy’ List
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1. Ashok Leyland:
The company is bullish on the counter and sees it to hit a target price of Rs.158, implying an upside of close to 16 percent from current levels of Rs. 136.6 per share. The company is the leading player in the commercial vehicle industry
“Demand for MHCV was adversely impacted post peeking out due to multiple factors including changes in axel norms, increase in prices due to implementation of BS 6 norms followed by sharp drop in demand due the ongoing Covid-19 crisis”, says the report.
MHCV segment has also started to recover over the past few months before the 2nd lockdown while demand for buses are expected to remain muted
The brokerage firm believes that the company is ideally placed to capture the growth revival in
CV segment and will be the biggest beneficiary of the Government’s voluntary scrappage policy and hence rate the stock a BUY.
2. GNA Axles:
This is an auto ancillaries firm which the brokerage is bullish on for the target price of Rs. 1233. This implies an upside of 17.7 percent from the current market price of Rs. 1047.
GNA Axles is one of the leading suppliers of rear axles to the Auto industry. The company is expected to
be one of the biggest beneficiaries of the revival in the CV cycle. The company derives 60% of its revenues from exports while the balance 40% of the company’s
revenues comes from the domestic markets.
GNA is expected to be one of the biggest beneficiaries of strong growth outlook for truck sales in US and Europe markets.The venture into the SUV axle would provide the company with new growth avenues while the recovery in the domestic CV cycle also bodes well for the company. At current level the stock is trading at a P/E multiple of 11.6x FY23E EPS estimate of Rs. 58.
3. Suprajit Engineering:
This is also the auto ancillaries firm for which the target set out by the brokerage is Rs. 390 per share. This means an upside of 6 percent from the current levels of Rs. 365.75.
Suprajit Engineering (SEL), is the largest supplier of automotive cables to the domestic OEMS with presence across both 2Ws and PVs. Being low cost players the company has both gained market share as well as more business from existing customers.
SEL has outperformed the Indian Auto industry in the recent years (positive growth vs low double-digit declines for the domestic 2W and PV industry
in FY21). “SEL has grown profitably over the years and as a result boast a strong balance sheet (net cash). We believe SEL is prime beneficiary of ramp-up in production by OEMs across the globe and is well insulated from threat of EV (is developing
new products). Its premium valuations are justified in our opinion owing to strong outlook and top-grade quality of earnings”, adds the company in its report.
4. Sona BLW Precision:
For the casting and forgings company, the brokerage has set a target price of Rs. 719. From the current levels of Rs. 639, this implies an upside of 12 percent.
Sona BLW is one of India’s leading automotive technology companies that derives 40% of its revenues from Battery Electric Vehicles (BEV) and Hybrid Vehicles. It supplies EV differential assemblies and gears, BSG systems and EV traction motors to global customers. This global BEV segment
has been fastest growing and is expected to maintain high growth rates which is positive for Sona BLW.
The company’s capabilities have enabled them to gain market share across its products especially for products related to EV/BEV. They also have strong market share ranging from 55-90% for differential gears for PV, CV and tractor OEMs in India.
Given the traction in the BEV/Hybrid Vehicle space, we believe that Sona Comstar will continue to command higher multiple which is justified by ~47%
earnings CAGR over FY21-24E.
GoodReturns.in
Disclaimer
The above stocks to buy are picked from the report of Angel Broking. 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.
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