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The expression ‘ Banking System ‘ or ‘ Banks ‘ means the banks and any other financial institution referred to in sub-clauses (i) to (vi) of clause (d) of the explanation below Section 42(1) of the Reserve Bank of India Act, 1934. No. of Scheduled Commercial Banks as on Current Fortnight:134 Ajit Prasad Press Release: 2021-2022/995 |
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The brokerage sees an upside target of nearly 35% on the stock of Gujarat Gas from the current levels of around Rs 630.
| FY 2022 (e) | FY 2023 (e) | |
|---|---|---|
| Revenues | 124.9 | Rs 187 |
| Net profits | Rs 13.8 | Rs 19.7 |
| EPS | Rs 20 | Rs 28.6 |
| Book value per share | Rs 83.1 | Rs 108.80 |
| RoE | 27.00% | 29.80% |
The sharp hike in gas prices by Gujarat Gas clearly indicates the company would try to protect its margins even in adverse situations, Motilal Oswal has said in its report. “On the contrary, since CNG impacts the lower strata of the economic population, we expect margin contraction in the CNG segment for all city gas distribution. Gujarat is home to five industrial clusters, classified as ‘severely/critically polluted’ in terms of air pollution. As we emerge from the COVID pandemic, we expect to see stricter norms implemented in these industrial clusters, which may raise Gujarat Gas’ volume prospects,” the brokerage has said.
“Gujarat Gas trades at 22 times FY23 EPS. On strong volume prospects, we value the company at 28x Sep’23 EPS; we re-iterate Buy, with target price of Rs 850,” Motilal Oswal has said in its report.
According to the brokerage the volume potential for Gujarat Gas remains the best among the city gas distribution companies owing to its highest exposure in the Industrial segment. “The recent Supreme Court order in favor of the company for Ahmedabad rural further presents the prospect of 0.8-1mmscmd over the next 2-3 years,” the brokerage has said.
The above report is prepared from the recommendations of Motilal Oswal Institutional Equities. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies Pvt Ltd, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article. The above article is for informational purposes only.
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The Reserve Bank of India (RBI) has, by an order dated October 05, 2021, imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Kheda People’s Co-operative Bank Ltd., Kheda (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms/ concerns in which they are interested’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Background The statutory inspection of the bank conducted by the RBI with reference to the bank’s financial position as on March 31, 2019, the Inspection Report pertaining thereto and examination of all related correspondence revealed, inter alia, non-compliance with aforesaid directions issued by the RBI. In furtherance to the same, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the aforesaid directions issued by the RBI. After considering the bank’s reply to the notice and oral submissions made during the personal hearing, the RBI came to the conclusion that the aforesaid charge was substantiated and warranted imposition of monetary penalty. (Yogesh Dayal) Press Release: 2021-2022/994 |
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Visa has launched a Card-on-File tokenisation service for e-commerce players Grofers, BigBasket and MakeMyTrip. The Reserve Bank of India’s CoF tokenisation guidelines mandate replacing the actual card data with encrypted digital tokens, which are then used to facilitate and authenticate transactions.
“Card-on-File (CoF) tokenisation provides two key benefits — consumer and ecosystem security and an enhanced checkout experience. Launched in partnership with Juspay, India’s first CoF tokenisation service is now available across e-commerce leaders such as Grofers, BigBasket and MakeMyTrip,” it said in a statement on Wednesday.
“Having launched CoF tokenisation services in over 130 countries globally, we are confident of the technology’s ability to build a safe, secure and seamless environment for digital payments. This will be critical in building consumer trust on merchant platforms and reassure them of the safety of their payment credentials on these platforms,” said TR Ramachandran, Group Country Manager, India and South Asia, Visa.
Also see: ADIF is hopeful of further consultation with RBI on tokenisation
Visa has enabled all its banking partners for tokenisation and is working closely with merchants, payment aggregators and gateways to ready the ecosystem for CoF tokenisation rollout, he added.
Tokenisation guidelines have to be met by January 1, 2022.
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The nine companies whose rating outlook has been revised upwards are RIL, TCS, Infosys, ONGC, Petronet LNG Ltd, UltraTech Cement, Oil India, Indian Oil Corporation and Hindustan Petroleum Corporation Ltd (HPCL).
The agency also affirmed the rating on privatisation-bound Bharat Petroleum Corporation (BPCL), but maintained the ‘negative’ outlook.
The nine banks whose outlook has been revised to ‘stable’ are SBI, Axis Bank, Bank of Baroda, Canara Bank, Axis Bank, HDFC Bank, ICICI Bank, PNB, Union Bank and EXIM Bank.
“Stabilization in asset quality and improved capital are the main drivers of this rating action,” Moody’s said.
Also, the rating outlook has been revised to ‘stable’ from ‘negative’ on 10 Indian infrastructure issuers, including NTPC, NHAI, PGCIL, Gail, Adani Transmission and Adani Ports and Special Economic Zone Limited (APSEZ). PTI JD ABM ABM
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The nine companies whose rating outlook has been revised upwards are RIL, TCS, Infosys, ONGC, Petronet LNG Ltd, UltraTech Cement, Oil India, Indian Oil Corporation and Hindustan Petroleum Corporation Ltd (HPCL).
The agency also affirmed the rating on privatisation-bound Bharat Petroleum Corporation (BPCL), but maintained the ‘negative’ outlook.
The nine banks whose outlook has been revised to ‘stable’ are SBI, Axis Bank, Bank of Baroda, Canara Bank, Axis Bank, HDFC Bank, ICICI Bank, PNB, Union Bank and EXIM Bank.
“Stabilization in asset quality and improved capital are the main drivers of this rating action,” Moody’s said.
Also, the rating outlook has been revised to ‘stable’ from ‘negative’ on 10 Indian infrastructure issuers, including NTPC, NHAI, PGCIL, Gail, Adani Transmission and Adani Ports and Special Economic Zone Limited (APSEZ). PTI JD ABM ABM
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Canara Robeco Bluechip Equity Fund Direct-Growth is a Large Cap mutual fund scheme that was introduced by Canara Robeco Mutual Fund in 2010. It is a medium-sized fund in its category, with an expense ratio of 0.36 percent, which is comparable to the expense ratio charged by most other Large Cap funds. Canara Robeco Bluechip Equity Fund Direct-Growth returns have been 53.58 percent over the last year and it has generated a CAGR of 13.75 percent since its inception.
The fund has its equity allocation across the Financial, Technology, Energy, Construction, Healthcare sectors. HDFC Bank Ltd., ICICI Bank Ltd., Infosys Ltd., Reliance Industries Ltd., and Housing Development Finance Corpn. Ltd. are the fund’s top five holdings. Canara Robeco Bluechip Equity Fund has been rated “No 1” by CRISIL, 5 star by Value Research and again 5 star by Morningstar which indicates the quality of the fund in terms of past performance.
As of 5th October 2021, the fund has a Net Asset Value (NAV) of Rs 42.31 and the Asset Under Management (AUM) of the fund is Rs 4,271.67 Cr. The fund charges an exit load of 1% if allocated units are redeemed within 1 year of the purchased date and one can start SIP in this fund with a minimum amount of Rs 1000.
| Period | Canara Robeco Bluechip Equity Fund – Growth | Scheme Benchmark (S&P BSE 100 TRI) | Additional Benchmark (S&P BSE Sensex TRI) |
|---|---|---|---|
| CAGR since Inception | 13.75 % | 12.35 % | 12.59 % |
| 1 Year | 53.58 % | 58.92 % | 56.96 % |
| 3 Year | 21.47 % | 18.51 % | 19.03 % |
| 5 Year | 17.26 % | 16.54 % | 17.60 % |
| Comparative performance of Canara Robeco Bluechip Equity Fund – Growth as of Sep 30 , 2021. Source: Official website of the fund house |
It is an open-ended equity scheme predominantly investing in equity and equity-related Instruments of Large Cap companies. The fund’s expense ratio is 1.34 percent, which is higher than the expense ratio charged by most other Large Cap funds. IDBI India Top 100 Equity Fund Direct-Growth Returns in the previous year were 61.79 percent, according to Value Research, and it has generated 15.77 percent average annual returns since its debut.
The financial, technology, energy, construction, and services sectors are featured in the equity allocation of the fund. Reliance Industries Ltd., HDFC Bank Ltd., Infosys Ltd., ICICI Bank Ltd., and Housing Development Finance Corpn. Ltd. are the fund’s top five holdings. The fund charges an exit load of 1% if purchased units are redeemed within 12 months from the date of allotment. The fund’s Net Asset Value (NAV) is Rs 44.25 as of October 5, 2021, and its Asset Under Management (AUM) is Rs 519.49 Cr.
CRISIL has given IDBI India Top 100 Equity Fund a “No 1” rating, Value Research has given it a 3-star rating, and Morningstar has also given it a 3-star rating, indicating the fund’s historical performance and effectiveness. SIP in this fund can be started from Rs 500.
| 1 mth returns | 6 mth returns | 1 yr returns | 3 yr returns | 5 yr returns |
|---|---|---|---|---|
| 3.34% | 28.08% | 61.79% | 25.17% | 15.31% |
| Source: Groww |
This Large Cap mutual fund scheme has been around for 27 years, thanks to the fund house Franklin Templeton Mutual Fund. The product charges a 1.9 percent expense ratio, which is more than most other funds in the large-cap category. Franklin India Bluechip Fund-Growth returns in the previous year were 58.70 percent, and from its inception, it has generated an average annual return of 20.21 percent. The fund’s equity allocation has been diversified across Financial, Energy, Construction, Healthcare, Communication sectors.
The fund’s best-performing holdings are ICICI Bank Ltd., State Bank of India, Axis Bank Ltd., Bharti Airtel Ltd., Infosys Ltd.. If purchased units are redeemed within 12 months after the date of allocation, the fund imposes a 1% exit load.
As of October 5, 2021, the fund’s Net Asset Value (NAV) is Rs 719.28, and its Asset Under Management (AUM) is Rs 6,687.30 Cr. CRISIL has given the Franklin India Bluechip Fund a “No 1” rating, Value Research has given it a 2-star rating, and Morningstar has given it a 3-star rating, indicating how well the fund has fared during market ups and downs. If allocated units are liquidated within one year of the purchase date, the fund levies a 1% exit load, and one can start a SIP in this fund with a minimum contribution of Rs 1000.
| Compounded Annualized Growth Rate Performance | |||
|---|---|---|---|
| Period | Fund | Nifty 100 | Nifty 50 |
| Last 1 Year | 58.70% | — | 52.24% |
| Last 3 Years | 12.53% | — | 14.94% |
| Last 5 Years | 11.98% | — | 15.70% |
| Last 10 Years | 13.25% | — | 14.48% |
| Last 15 Years | 12.97% | — | — |
| Since Inception (01/12/1993) | 20.21% | — | — |
| As of 31/08/2021. Source: franklintempletonindia.com |
The views and investment tips expressed by authors or employees of Greynium Information Technologies, should not be construed as investment advice to buy or sell stocks, gold, currency, or other commodities. Investors should certainly not take any trading and investment decision based only on information discussed on GoodReturns.in We are not a qualified financial advisor and any information herein is not investment advice. It is informational in nature. All readers and investors should note that neither Greynium nor the author of the articles, would be responsible for any decision taken based on these articles. Please do consult a professional advisor. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates, and authors do not accept culpability for losses and/or damages arising based on information in GoodReturns.in
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Dhan Sanchay Yojana Direct – Mahindra Manulife Equity Savings manages a total of 281 crores in assets (AUM). The fund has a 0.72 percent cost ratio, which is lower than most other Equity Savings funds. The fund now has a 44.97 percent stock allocation and a 13.03 percent debt allocation.
Mahindra Manulife Equity Savings Dhan Sanchay Yojana Direct has a growth rate of 32.22 percent during the last year. It has returned an average of 12.14 percent every year since its inception. Through investments in equity and equity-related securities, arbitrage opportunities, and debt and money market instruments, the Scheme aims to create long-term capital appreciation as well as income.
A three-year SIP of Rs 10,000 would provide a current value of Rs 4.85 lakh and a profit of Rs 1.25 lakh. Value Research has given the fund a 5-star rating.
The Principal Equity Savings Fund Direct-Growth manages assets of 86 crores (AUM). The fund’s expense ratio is 0.95 percent, which is comparable to the expense ratios charged by most other Equity Savings funds. The fund now has a 45.59 percent stock allocation and a 21.67 percent debt allocation.
The fund’s 1-year returns were 30.16 percent. It has had an average yearly return of 9.58 percent since its inception. Using equities and equity-related instruments, arbitrage opportunities, and investments in debt and money market instruments, the strategy intends to offer capital appreciation and income distribution.
A three-year monthly SIP of Rs 10,000 would provide a current value of Rs 4.78 lakh and a profit of Rs 1.18 lakh. Value Research has given the fund a 5-star rating.
The Axis Equity Saver Fund Direct-Growth manages assets worth 901 crores (AUM). The fund’s expense ratio is 0.98 percent, which is comparable to the expense ratios charged by most other Equity Savings funds. The fund currently has a 41.48 percent equity allocation and a 33.25 percent debt allocation.
The fund has returned 27.12 percent during the last year. It has generated an average yearly return of 10.31% since its inception.
The plan uses equities and equity-related instruments, arbitrage opportunities, and investments in debt and money market instruments to deliver capital appreciation and income distribution to investors. Axis Equity Saver Fund’s NAV on October 5, 2021 is 18.28.
A three-year monthly SIP of Rs 10,000 would provide a current value of Rs 4.61 lakh and a profit of Rs 1.01lakh. Value Research has given the fund a 4-star rating.
The HDFC Equity Savings Direct Plan-Growth manages assets of Rs 2,443 crores (AUM). The fund’s expense ratio is 1.29 percent, which is greater than the expense ratios charged by most other Equity Savings funds. The fund now has a 40.45% equity allocation and a 29.63 percent debt ratio.
HDFC Equity Savings Direct Plan has a 1-year growth rate of 31.09 percent. It has had an average yearly return of 10.82 percent since its inception.
A three-year monthly SIP of Rs 10,000 would provide a current value of Rs 4.6 lakh and a profit of Rs 1 lakh. Value Research has given the fund a 4-star rating.
The L&T Equity Savings Fund Direct-Growth manages assets of 73 crores (AUM). The fund has a 0.69 percent cost ratio, which is lower than most other Equity Savings funds. The fund currently has a 43.58 percent stock allocation and a 25.37 percent debt allocation.
The 1-year returns on the L&T Equity Savings Fund Direct-Growth are 26.56 percent. It has generated an average yearly return of 9.41% since its inception. L&T Equity Savings Fund’s NAV on October 5, 2021 is 24.41.
A three-year monthly SIP of Rs 10,000 would provide a current value of Rs 4.57lakh and a profit of Rs 97,026 lakh.
The SBI Equity Savings Fund Direct-Growth manages assets of 1,719 crores (AUM). The fund has a 0.67 percent cost ratio, which is lower than most other Equity Savings funds. The fund now has a 34.56 percent stock allocation and a 24.38 percent debt allocation.
The 1-year returns for SBI Equity Savings Fund Direct-Growth are 25.40 percent. It has generated an average yearly return of 10.22% since its inception.
A three-year monthly SIP of Rs 10,000 would provide a current value of Rs 4.56lakh and a profit of Rs 95,517 lakh.
Equity Savings Funds are handled similarly to equity-oriented balanced funds, with equities up to 65 percent of the portfolio. The sole difference between balanced funds and equity savings funds is that a portion of the equity allocation may be hedged using derivatives, thus the overall equity exposure may not reflect the underlying risk profile of the fund.
These funds are ideal for investors who want equity exposure but don’t have the time to commit to a long-term investment strategy. Unlike other equity investments, these are low-risk funds that are meant to bear specified returns. Furthermore, despite the fact that they are not required to, few of these funds seek to offer monthly dividend income to investors.
Investing in mutual funds poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. The above article is for informational purposes only.
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This rating action is driven by Moody’s recent affirmation of the Indian government’s Baa3 issuer rating and change in outlook to stable from negative.
Moody’s also affirmed the long-term local and foreign currency deposit ratings of Bank of Baroda, Canara Bank, Punjab National Bank and Union Bank of India. The rating outlooks of these banks has also been changed to stable from negative.
“The affirmation of Axis, ICICI, HDFC Bank and SBI’s deposit ratings and change in outlook to stable follows the change in outlook on the sovereign rating to stable,” Moody’s said in a statement. “The mail previous negative outlook on the sovereign rating drove the negative
outlook on these banks, because of strong linkages to the sovereign credit profile.”
The rating agency highlighted that the affirmation of state-run banks, reflect the fact that despite the significant economic challenges since the onset of the pandemic, their asset quality has only deteriorated modestly while capital has improved.
“Corporate asset quality has improved as legacy issues have been resolved while deterioration in retail asset quality was relatively moderate,” the agency said. Asset quality will further improve if economic activity continues to normalise.”
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