IFSCCodeof.in – Page 83 – Get Bank IFSC & MICR codes here.

Are Peripheral Cities Scoring Above Big Cities In Terms Of Real Estate Investment?

November 16, 2021 root Personal Finance

[ad_1]

Space Crunch

As per recently released CII-ANAROCK Consumer Survey, 41% respondent property seekers may buy a second home for personal use, 65% respondents who work from home will opt for bigger houses, 68% prefer peripheral/suburban areas. This clearly indicates that specially the category of end-users is open to remain remotely far from the hustles of urban city just so they can grab a bigger space. The metro cities are not only densely populated with residential and commercial structures but has land prices fairly higher for a first-time buyer. Conclusively, for this set of buyer/investors peripheral cities are emerging to be the ideal choice for investment due to immense space and proximity to metro city.

Scope of appreciation

The peripheral locations when compared to the crowded urban cocoons offer a safe and long term investment plan. As the infrastructure surrounding the region develops overtime, and with scope of more land banks available there is chance of establishing bigger structures. Additionally, the rate of price appreciation gets better and better with time and each surrounding development.

As much as 58% of around 149,000 homes launched in 2020-21 are located in the peripheral areas of the top 7 property markets, showed data from Anarock research. The pandemic has had a significant impact in terms of project launches around this region. Since most of the properties in peripheral areas are in their primary stages of development, the lower price point not only makes it attractive but also makes the overall transaction a smart one. With homes shifting to peripheries, it is highly likely that large employers will occupy some space or open their smaller version of commercial centres/hubs to be in proximity for corporate professionals. The advent of such commercial spaces will be giving a major boost to the overall region’s stature and value.

Urban Layout & Architecture

The CII-ANAROCK Consumer Survey mentioned above also highlights that attractive pricing continues to rule the roost of must-haves, established developer credibility is the second-highest priority for 77% of the surveyed buyers. Project design and location also feature prominently on the wish list.

Location being the deal-maker/breaker for closing property transactions has gained a new nuance with peripheral cities coming into the picture. The newly developed areas are being equipped with elements of modern layout & architecture. This makes them an attractive proposition to consider not only for local but also global investors and NRI buyers. Post-pandemic with digitalization gaining better grounds in real estate homebuyers are keenly exploring the options in each category from property search to documentation and legal advice to down payments, each and every aspect is accessible via a single click.

Lastly, it is crystal clear that realtors with sufficient online presence will rule the roost going forward. Strong and strategized social media presence will be among the most effective technique in marketing your property on the right platforms.

Authored by Siddharth Maurya, Resource Specialist – Real Estate and Fund Management

[ad_2]

CLICK HERE TO APPLY

2 Intraday Cash Buy Stock Recommendations By Angel Broking

November 16, 2021 root Personal Finance

[ad_1]

Read More/Less

Investment

oi-Roshni Agarwal

|

Published: Tuesday, November 16, 2021, 11:21 [IST]

For traders who want to make short term gains there is intra-day trading and involves buying and selling of a scrip within a trading session i.e. on the same day. This is engaged in via online trading platforms. Say if you buy 1000 units of ‘X’ stock which opened the session at a price of Rs. 500 and then in few hours climbs to Rs. 550 then you can make quick profit of Rs. 50,000 in a single day of trade.

2 Intraday Cash Buy Stock Recommendations By Angel Broking

So, for day traders Angel Broking recommends buying 2 scrips as below:

Intraday Cash Buy-Raymond: Angel Broking has recommended buying the scrip of Raymond for intra-day trade in the price range of Rs. 509.5-513.4 for a price target of Rs. 532. The brokerage firm has suggested to place a stop loss of Rs. 502.4. So if you buy the scrip at the upper end of the suggested price band you can make a profit of over 3 percent in a day.

Intraday Cash Buy-Tata Motors: Another Intra-day cash buy by the brokerage is Tata Motors at Rs. 516.6-518.6 with a price target of Rs. 535 and stop loss at Rs. 508. Likewise for Tata Motors, day trader can earn a return of over 3 percent.

GoodReturns.in

Story first published: Tuesday, November 16, 2021, 11:21 [IST]

[ad_2]

CLICK HERE TO APPLY

Leave a comment

2 Stocks To Buy From ICICI Direct For A Decent Upside of 21% In 1 Year

November 16, 2021 root Personal Finance

[ad_1]

Read More/Less

Q2FY22 results of KNR Constructions Ltd

KNRCL is an ISO 9001:2000 Certified company that offers engineering, procurement, and construction services in a number of fast-growing sectors, including roads and highways, and irrigation. According to the brokerage the company has reported a 24.5% revenue CAGR over FY16-21 and has consistently delivered industry-leading operating margin of ~20% throughout the past three years.

The brokerage has said that KNR’s “Standalone revenue improved 25.7% YoY to Rs 755.6 crore, largely backed by its healthy order book position and pick-up in execution post second wave disruptions. On QoQ basis, topline improved by 2.1%. The company delivered industry leading EBITDA margin and was at 22.2% (up 154 bps YoY). Effectively, EBITDA at Rs 167.5 crore, was up 35.1% YoY and PAT improved 91.1% YoY to Rs 59.4 crore.”

Key triggers for future price performance of KNR Constructions Ltd according to the brokerage

KNR is likely to be one of the prime beneficiaries of thriving roads and water segments (Jal Jeevan Mission).

Strong order book position, receipt of appointed date in most of its projects, and execution pick-up to translate into 18.8% topline CAGR over FY21-23E.

Price escalation clause in roads agreement, and higher margins at irrigation projects likely to keep operating margin at an elevated level.

Asset-light strategy via monetisation to bring-in incremental cash flows.

Buy KNR Constructions Ltd with a target price of Rs 340

The brokerage in its research report has claimed that “The company is a focused road based EPC player that enjoys a strong execution track record with the reputation of completing projects on time/ahead of the schedule. KNR also enjoys a very healthy balance sheet and a strong return ratio. With net debt free position at standalone levels (as of date), equity commitment is likely to be supported by internal cash generation, HAM monetisation and irrigation dues recovery and should not entail new debt at standalone levels. Hence, we maintain our BUY recommendation on the stock with a SoTP based revised target price of Rs 340/share. We value its core EPC business at Rs 317/share (20x FY23E P/E).”

Q2FY22 results of Ashok Leyland

Ashok Leyland, the Hinduja group’s cornerstone, is India’s second-largest commercial vehicle manufacturer, as well as the world’s fourth-largest bus manufacturer and 14th-largest truck manufacturer. According to the brokerage, the company’s “Standalone operating income came in at Rs 4,458 crore (up 51% QoQ). Total volumes for the quarter were at 27,543 units, up 53% sequentially with ASPs for the quarter coming in at Rs 16.2 lakh/unit, down 1.3% QoQ, M&HCV: LCV mix remained broadly unchanged QoQ at 50:50 and EBITDA for the quarter came in at Rs 135 crore with corresponding margins at 3.0%. Gross margin declined sharply 260 bps QoQ but operating leverage benefits limited the blended margin decline.”

According to the Q2FY22 results of Ashok Leyland the consequent reported loss after tax was at Rs 83 crore, says ICICI Direct.

Key triggers for future price performance of Ashok Leyland according to ICICI Direct

Set to be an outsized beneficiary of impending M&HCV revival riding on government’s infra push and pick-up in core industrial activity (mining, construction, road building). LCV to continue to gain from last mile mobility.

Blended ASPs to rise amid exports push in line with the global top-10 vision.

We build 23% volume & 30% net sales CAGR over FY21-24E; margins seen rising to 10.5% levels by FY24E on the back of operating leverage benefits and cost, cash, CAPEX actions under Project Reset.

Buy Ashok Leyland with a target price of Rs 175

The brokerage has said, “ALL’s share price has grown at ~13% CAGR in last five years (from ~Rs 80 levels in November 2016), outperforming Nifty Auto index.”

The company’s “board approved the sale of EV business to its subsidiary i.e. Switch Mobility on a slump sale basis & transfer of e-MaaS (E-Mobility as A Service) business to Ohm Global Mobility Pvt Ltd, India, on slump sale basis, to be eventually housed under switch mobility with a majority stake” says ICICI Direct.

ICICI Direct has claimed in its research report that “We retain BUY rating given CV revival play & structural margin tailwinds. We value ALL at revised SOTP based target price of Rs 175 (15x CV FY23-24E avg. EV/EBITDA, 3x P/BV for investments; earlier TP Rs 160).”

Disclaimer

The above stocks are picked from the brokerage report of ICICI Direct. 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.

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Sharekhan Recommends This Stock To Buy For 21.3% Upside, In 1 Year

November 16, 2021 root Personal Finance

[ad_1]

Read More/Less

Target Price

The Current Market Price (CMP) of KEI Industries Ltd is Rs. 989. The brokerage firm has estimated a Target Price for the stock at Rs. 1200. Hence the stock is expected to give a 21.3% return, in a Target Period of 12 months.

Stock Outlook

Current Market Price (CMP) Rs. 989

Target Price Rs. 1200

1 year return 21.30%

Company performance

KEI Industries reports in-line standalone revenues at Rs. 1353 crore (up 30.5% y-o-y) which was led by strong growth in cables revenues (91% of revenues, up 42% y-o-y). With cables, LT (35% revenue share grew 22% y-o-y) followed by housing wires (29%, up 74% y-o-y). The retail segment (51% revenue share) increased by 39% y-o-y, while sales through dealer/distribution market increased 67% y-o-y to Rs. 580 crore. Additionally, lower interest cost (-34% y-o-y, led by cash purchases and reduction of acceptances) led to a 35% y-o-y rise in net profit at Rs. 92 crore.

Comments by Sharekhan

Sharekhan said, “We retain Buy rating KEI Industries Limited (KEI) with a revised PT of Rs. 1200, factoring in upwardly revised estimates and reasonable valuation.” As a positive outlook, the brokerage firm has identified two factors, “Reduction in finance cost led by a reduction in net debt including acceptances. Revenues from stainless steel wires and EHV sales grew 58% y-o-y and 53% y-o-y.”

About the company

KEI is a leading Indian W&C industry and an EPC player in the power T&D segment. The company services retail and institutional customers and caters to both private and public sector clients. Currently, KEI manufactures and markets power cables and addresses cabling requirements of a wide spectrum of sectors such as power, oil refineries, railways, automobiles, cement, steel, and real estate, etc.

Disclaimer

The above stock has been picked from the brokerage report of Sharekhan. 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.

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Report, BFSI News, ET BFSI

November 16, 2021 root Personal Finance

[ad_1]

Read More/Less

Despite the overall increase in the formalisation of the economy in the past five-six years, the key component of an informal economy — cash in circulation (CIC) as a percentage of GDP — has continued to rise year after year, barring in the year of note ban in 2016 when it fell to 8.7 per cent, according to a report. According to the report by SBI Research, almost 80 per cent of the economy has been formalised in the past five years with every aspect of the non-cash component of the economy including agri credit, gaining traction.

In a detailed report on Monday, SBI Research said that after dipping to 8.7 per cent of GDP in 2016 (after the note-ban), cash in circulation (CIC) as a percentage of GDP has climbed again to 13.1 per cent so far this fiscal. It is only marginally down from the peak of 14.5 per cent in FY21, which could be because of the pandemic-driven sense of insecurity and uncertainties.

During FY08-FY10, when the economy was on a scorching growth rate, sniffing at almost double-digits growth, the CIC trended at 12.1, 12.5 and 12.4 per cent, respectively. The same trend continued with minor variations in the next five years also peaking at 12.4 per cent in FY11 and falling to 11.4 per cent in FY15, according to the SBI report pencilled by Soumya Kanti Ghosh, its group chief economic adviser.

Ghosh attributes the high 14.5 per cent CIC in FY21 to the collapse of the economy due to the pandemic, wherein the GDP reported the worst contraction of 7.3 per cent.

If the circumstances were normal, nominal GDP growth in FY21 and FY22 would have been much higher and as a result, CIC would also have followed the trend as witnessed pre-note ban.

According to him, without the pandemic-induced GDP collapse, the CIC-GDP ratio would have been at 12.7 per cent as against 12.4 per cent in FY11 as because of the pandemic, people might have held as much as Rs 3.3 lakh crore in cash as a precaution.

Coming to digital transactions, 3.5 billion transactions worth Rs 6.3 lakh crore were recorded through UPI in October 2021, which is 100 per cent more than the same period last month and in terms of transaction value, it is 103 per cent more than October 2020.

Data also show that UPI transactions have jumped 69 times since 2017, while debit card transactions have stagnated indicating people preference and shift to UPI.

UPI transactions have jumped 69 times in the past four years — from Rs 1,700 crore in 2017 to Rs 15,100 crore in 2018 to Rs 29,900 crore in 2019, to Rs 57,100 crore in 2020 to Rs 1,17,100 crore so far in 2021.

Similarly, credit card spends rose manifold between 2012, when it was only Rs 1,500 crore, and 2018 when it touched Rs 10,100 crore. It then steadily added 30 per cent more in two years to cross Rs 13,000 crore and peaked at Rs 13,500 crore in 2020, according to the report.

It added that the credit card spends are on course to set a record this year as already YTD (year-to-date), it has reached Rs 13,300 crore, according to the report.

Again, debit card spends also continued to gain traction with 2012 seeing Rs 12,100 crore of transactions, which climbed to Rs 38,800 crore in 2016 but declined steeply in 2017 to Rs 15,600 crore. It more that doubled the next year to Rs 32,700 crore and peaked at Rs 56,300 crore in 2019 and again steeply fell to Rs 13,800 crore in 2020 and continued to head southwards in 2021 at Rs 9,700 crore, the report said.

Ghosh also noted that tax as percentage of GDP has also jumped since FY16 but declined after FY19, reflecting the changes in the Budget of 2019. The tax-GDP ratio has jumped in the pandemic year again reflecting formalisation efforts.

The tax-GDP ratio jumped from 10.5 per cent in FY16 to 11 per cent in FY19 but retreated since then, as the exemption limit was raised to Rs 5 lakh in the Budget FY20.

On the macrofront, the economy formalised much larger: The share of the informal sector GVA to total GVA for FY18 stood at 52.4 per cent. Employing this methodology (except for agricultrue and allied activities), the informal economy is possibly only around 15-20 per cent of the formal GDP, according to the report.

Even agriculture formalised if the numbers of Kisan Credit Cards (KCCs) are any indication. In the past three-four years, the per-card outstanding has increased from Rs 96,578 in FY18 to Rs 1,67,416 in FY22, an increase of Rs 70,838, that translates into agri credit formalisation at Rs 4.6 lakh crore and there are 6.5 crore KCCs.

According to the GST portal, between August 2018 and March 2021, the number of new MSMEs (micro, small and medium enterprises) incorporated stood at 499.4 lakh and came under GST.

[ad_2]

CLICK HERE TO APPLY

Leave a comment cash flow, CIC, demonetisation, gdp, sbi, sbi research

RBI officers, staff chalk out agitation plan to press wage revision

November 16, 2021 root Banking & Finance

[ad_1]

Read More/Less

Officers and employees of the Reserve Bank of India are on an agitational path from today (Tuesday) after their ‘several attempts’ to revive talks on long-pending issue of wage settlement have failed repeatedly.

“We have no option but to protest the inexplicable dilly-dallying on a highly sensitive matter such as wage revision pending for last four years and more,” said Samir Ghosh, Arun Samaddar, Gavin Coelho, and Jeet Pathak, who represent employees, workers and officers’ unions under the United Forum of Reserve Bank Officers and Employees.

‘Wait in vain’

The United Forum told the constituents in a circular that “we felt very strongly to embark on protest earlier, but in deference to the wishes of some well-meaning friends, collectively decided to hold on till this week. The Governor was reportedly scheduled to hold talks with the Human Resources Management Department and we were expecting a solution to emerge.”

“Our wait is in vain, unfortunately,” the circular said. Having exhausted all avenues of peaceful solution, it has been decided that delegations of joint office-bearers/executive committee meet with Regional Directors of the RBI during lunch recess today (Tuesday) demanding immediate resumption of the process of finalisation of wage talks.

Mass leave

Lunch-time gate demonstrations will be launched on Thursday and officers and employees will wear a badge during November 23 to 26. Lunch-time mass deputations will be taken out to the offices of the Regional Directors/Officers-in-charge on November 26.

All staff coming under the current wage settlement will go on mass casual leave on November 30, the circular said.

A senior retired RBI official said that although employees and staff have the goodwill of the RBI’s name, they have had to struggle at different times for either fair and respectable salary revisions or other service conditions.

Pensioners suffer worst

“Since September 2008, these struggles have been more marked, frequent and regrettable, as the independence of the Bank even in staff matters had been surrendered to outside authority,” he said on condition of anonymity.

It is an ironic coincidence that on a day the Prime Minister dedicated some of the functions of the RBI to the nation, the staff has had to announce an agitational programme for getting a fair and honourable wage settlement.

Pensioners and family pensioners have been worse sufferers since counterparts in the government institutions have benefited far more, the retired official said.

[ad_2]

CLICK HERE TO APPLY

Leave a comment employees, protest, RBI, revision, wage

Buy ONGC With A Target Price of Rs 208 As Suggested By HDFC Securities

November 16, 2021 root Personal Finance

[ad_1]

Read More/Less

Q2FY22 results of ONGC

According to the brokerage, ONGC’s “Revenue for Q2FY22 stood at INR 244bn (+44% YoY, +6% QoQ). EBITDA was at INR 132bn (+57% YoY, +9% QoQ) due to lower opex. APAT in Q2 was INR 129bn, up 5x YoY, 3x QoQ, mainly on account of lower tax regime adopted by the company.”

The company’s “Q2 crude oil realisation was USD 71.1/bbl (+72% YoY, +6% QoQ), while gas realisation was USD 1.9/mmbtu (-25% YoY, -1% QoQ). Oil sales volume was 4.3mmt (-3%YoY, -2%QoQ). Gas sales volume was 4bcm (-7% YoY, +4% QoQ)” reported the brokerage.

HDFC Securities has said in its research report that according to the takeaways of the management’s conference call “Capex guided at INR 290-320bn for FY22/FY23E. ONGC’s FY22 targeted O+OEG production delayed by a year due to COVID-related supply chain issues, unplanned power shutdowns at Ratna R series fields due to monsoons, disruption at offshore and onshore projects due to cyclone Tauktae, and customer offtake issues. KG 98/2 production is currently at 0.7mmscmd and is expected to improve to 1.8mmscmd by Dec-21. Delay in sourcing equipment from Singapore/Malaysia, where supply chain operations remain affected by COVID, could impact the KG 98/2 output target.”

Buy ONGC with a target price of Rs 208

The brokerage has claimed that “We maintain BUY on ONGC with a target price of INR 208, based on an increase in crude price realisation and improvement in domestic gas price realisation (to USD 2.9/mmbtu). We expect oil price realisation to increase to USD 69/bbl in FY22E and USD 71/bbl in FY23E vs. USD 44/bbl in FY21, given the expected global economic rebound, post COVID. Q2FY22 revenue was 5% below our estimate, owing to a lower-than-expected crude oil price realisation of USD 71.1/bbl (HSIE USD 72.5/bbl) and below expectation crude oil sales.”

In its research report, HDFC Securities has clarified that “Q2 EBITDA was 3% below our estimate, though APAT was 2x above estimate, owing to lower-than-expected exploration cost, lower-than-expected interest cost, higher-than-expected other income, and lower tax expenses. We value ONGC’s standalone business at INR 173 and its investments at INR 35. The stock is currently trading at 4x FY23E EPS.”

Disclaimer

The 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.

[ad_2]

CLICK HERE TO APPLY

Leave a comment

Reserve Bank of India – Press Releases

November 16, 2021 root Press Releases

[ad_1]

Read More/Less

(Amount in ₹ crore, Rate in Per cent)

Volume
(One Leg) Weighted
Average Rate Range

A. Overnight Segment (I+II+III+IV) 473,119.56 3.27 1.00-5.20

     I. Call Money 7,224.43 3.19 2.00-3.40

     II. Triparty Repo 362,640.40 3.27 3.22-3.75

     III. Market Repo 103,224.73 3.30 1.00-3.40

     IV. Repo in Corporate Bond 30.00 5.20 5.20-5.20

B. Term Segment

     I. Notice Money** 576.20 3.23 2.50-3.40

     II. Term Money^@@ 289.50 – 3.25-3.65

     III. Triparty Repo 560.00 3.29 3.25-3.30

     IV. Market Repo 0.00 – –

     V. Repo in Corporate Bond 76.00 5.35 5.35-5.35

Auction Date Tenor (Days) Maturity Date Amount Current Rate /
Cut off Rate

C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF)

I. Today’s Operations

1. Fixed Rate

    (i) Repo

    (ii) Reverse Repo Mon, 15/11/2021 1 Tue, 16/11/2021 250,255.00 3.35

    (iii) Special Reverse Repo^~

    (iv) Special Reverse Repo^ψ

2. Variable Rate^&

  (I) Main Operation

     (a) Reverse Repo

  (II) Fine Tuning Operations

     (a) Repo

     (b) Reverse Repo

3. MSF Mon, 15/11/2021 1 Tue, 16/11/2021 0.00 4.25

4. On Tap Targeted Long Term Repo Operations^€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00

5. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)^£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00

6. Net liquidity injected from today’s operations
[injection (+)/absorption (-)]* -249,900.00

II. Outstanding Operations

1. Fixed Rate

  (i) Repo

    (ii) Reverse Repo

    (iii) Special Reverse Repo^~ Wed, 03/11/2021 15 Thu, 18/11/2021 1,158.00 3.75

    (iv) Special Reverse Repo^ψ Wed, 03/11/2021 15 Thu, 18/11/2021 291.00 3.75

2. Variable Rate^&

  (I) Main Operation

     (a) Reverse Repo Wed, 03/11/2021 15 Thu, 18/11/2021 434,492.00 3.99

  (II) Fine Tuning Operations

     (a) Repo

     (b) Reverse Repo Tue, 09/11/2021 7 Tue, 16/11/2021 200,015.00 3.95

Tue, 02/11/2021 28 Tue, 30/11/2021 50,007.00 3.97

3. MSF

4. Long-Term Repo Operations^# Mon, 17/02/2020 1095 Thu, 16/02/2023 499.00 5.15

Mon, 02/03/2020 1094 Wed, 01/03/2023 253.00 5.15

Mon, 09/03/2020 1093 Tue, 07/03/2023 484.00 5.15

Wed, 18/03/2020 1094 Fri, 17/03/2023 294.00 5.15

5. Targeted Long Term Repo Operations^ Fri, 27/03/2020 1092 Fri, 24/03/2023 12,236.00 4.40

Fri, 03/04/2020 1095 Mon, 03/04/2023 16,925.00 4.40

Thu, 09/04/2020 1093 Fri, 07/04/2023 18,042.00 4.40

Fri, 17/04/2020 1091 Thu, 13/04/2023 20,399.00 4.40

6. Targeted Long Term Repo Operations 2.0^ Thu, 23/04/2020 1093 Fri, 21/04/2023 7,950.00 4.40

7. On Tap Targeted Long Term Repo Operations^€ Mon, 22/03/2021 1095 Thu, 21/03/2024 5,000.00 4.00

Mon, 14/06/2021 1096 Fri, 14/06/2024 320.00 4.00

Mon, 30/08/2021 1095 Thu, 29/08/2024 50.00 4.00

Mon, 13/09/2021 1095 Thu, 12/09/2024 200.00 4.00

Mon, 27/09/2021 1095 Thu, 26/09/2024 600.00 4.00

Mon, 04/10/2021 1095 Thu, 03/10/2024 350.00 4.00

8. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)^£ Mon, 17/05/2021 1095 Thu, 16/05/2024 400.00 4.00

Tue, 15/06/2021 1095 Fri, 14/06/2024 490.00 4.00

Thu, 15/07/2021 1093 Fri, 12/07/2024 750.00 4.00

Tue, 17/08/2021 1095 Fri, 16/08/2024 250.00 4.00

Wed, 15/09/2021 1094 Fri, 13/09/2024 150.00 4.00

D. Standing Liquidity Facility (SLF) Availed from RBI^$ 21,695.80

E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]* -578,625.2

F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]* -828,525.2

G. Cash Reserves Position of Scheduled Commercial Banks

     (i) Cash balances with RBI as on 15/11/2021 608,039.08

     (ii) Average daily cash reserve requirement for the fortnight ending 19/11/2021 634,320.00

H. Government of India Surplus Cash Balance Reckoned for Auction as on^¥ 15/11/2021 0.00

I. Net durable liquidity [surplus (+)/deficit (-)] as on 22/10/2021 1,179,109.00

^@ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).

– Not Applicable / No Transaction.

** Relates to uncollateralized transactions of 2 to 14 days tenor.

^@@ Relates to uncollateralized transactions of 15 days to one year tenor.

^$ Includes refinance facilities extended by RBI.

^& As per the Press Release No. 2019-2020/1900 dated February 06, 2020.

* Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo.

^# As per the Press Release No. 2020-2021/287 dated September 04, 2020.

^ As per the Press Release No. 2020-2021/605 dated November 06, 2020.

^€ As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.

^¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.

^£ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.

^~ As per the Press Release No. 2021-2022/177 dated May 07, 2021.

^ψ As per the Press Release No. 2021-2022/323 dated June 04, 2021.

Ajit Prasad
Director (Communications)

Press Release: 2021-2022/1199

[ad_2]

CLICK HERE TO APPLY

Leave a comment

2 Stocks To Buy That Can Yield Returns Of Upto 30%

November 16, 2021 root Personal Finance

[ad_1]

Read More/Less

TCNS Clothing

Emkay Global has set a price target of Rs 1050 on the stock of TCNS Clothing as against the current market price of Rs 796, implying an upside of nearly 30% from the current levels.

“Sales recovered to 75% of pre-Covid levels vs. 45% recovery YoY. The recovery has been slower compared to western peers, due to a relatively slower pick-up in the ethnic category, focus on profitability and lower net-store additions (-2% vs. 20%+ for ABFRL-Lifestyle/Westside). However, festive sales trends are positive, with a 100% recovery and in line with western peers. EBO additions picked up pace with 8 net-new additions. TCNS retained its guidance of 60 net-new additions in FY22. Among channels, online led with 125% recovery, while physical retail channels saw 70% recovery.

Among new launches, footwear has been gaining strong traction and has contributed in double-digits to sales in 70 ‘W’ stores, where it has been launched,” Emkay Global has said in its report.

TCNS Stock: Upside target of nearly 30%

TCNS is a leader in the salwar-kameez industry with design-sourcing edge, 2x-3x penetration potential and strong online/ omni presence.

“We expect TCNS to deliver a healthy EBITDA CAGR of 34% over FY20-24E, led by 11% revenue growth and the rest contributed by full recovery of margins. Maintain Buy with a revised TP of Rs1,050 (Rs 860 earlier) on 42x Dec’23E EPS (40x Sep’23 earlier),” the brokerage has said.

Buy ONGC, says Emkay Global

Brokerage Emkay sees an upside of nearly 20% on the stock of ONGC from the current levels to a target price of Rs 185.

“The gas pricing formula has always been under deliberation, but ONGC does not believe that higher prices won’t be allowed next fiscal. It has not heard of any tinkering with formula. There have been delays in KG-DWN-98/2 production due to Covid and the company is currently reassessing timelines. Cyclone Tauktae has affected not just offshore but onshore

projects too.

ONGC expects FY22 SA crude production to be at 22.3-22.4mmt (incl JV) and gas at 22.5bcm. Covid reduced gas offtake, besides delays in crude installations at western offshore. With all FY22 original targets expected to be met, FY23 should be robust. OVL opex rose sequentially due to standby Mozambique charges as there is force majeure and hence being expensed. OVL is doing well now,” the brokerage has said.

Valuation and view on ONGC

“We value ONGC on a Dec’23 DCF-based SOTP, comprising standalone, KG 98/2, OVL and Mozambique upsides. Investments are valued at our target price or current market price and with a 30% hold co discount,” the brokerage has said. Shares in ONGC were last seen trading at Rs 158.

Disclaimer

The above stocks are picked from the brokerage report of Emkay Global. 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.

[ad_2]

CLICK HERE TO APPLY

Leave a comment

2 Stocks To Buy From IDBI Capital For Good Returns of 35%

November 16, 2021 root Personal Finance

[ad_1]

Read More/Less

Q2FY22 results of Rail Vikas Nigam (RVNL)

According to the brokerage “RVNL Q2FY22, PAT came in line with our estimate. PAT (up 49% YoY) is led by execution (revenue up 26% YoY) and improved performance from SPV which has benefited from an increase in the cargo movement. In Q2FY22, RVNL has received an order inflow of Rs15bn. Orders are won on competitive bidding which has a higher EBITDA margin. Post the result we have increased revenue by 4%/8% for FY22E/23E and PAT by 12%/15%.”

Key highlights and investment rationale for Rail Vikas Nigam (RVNL) according to IDBI Capital

Q2FY22 Snapshot: Led by improved execution, RVNL Q2FY22 revenue increased by 26% YoY to Rs40bn. EBITDA margin increased by 40bps YoY at 5.6% vs 5.2% YoY. Margin improvement is driven by operating leverage. Profit from Associates has increased by 278% at Rs568mn, this is led by improvement in cargo movement at SPVs particularly Kutch SPV. Q2FY22 PAT at Rs2.8bn (+49% YoY / +20% QoQ).

Order inflow at the higher margin: RVNL has won orders of Rs15bn on competitive bidding in Q2FY22. We understand this is positive as lack of order inflow was one of the concerns for future growth with the company. Order inflow is won at improved margin vs current EBITDA margin at 5-6%. H1FY22 Order book at Rs650bn vs Rs750bn in FY21. RVNL has also commenced bidding for orders in the international market, this could improve order inflow traction for the company.

Introduce FY24E financials: RVNL current order book is at 3.5x FY22E revenue. We expect revenue to increase by 18-19% pa over FY22E-24E. EBITDA margin to improve to 6.1% in FY24E vs 5.7% in FY21. This will result in an EBITDA increase of 21-22% pa over FY22E-24E.

Buy Rail Vikas Nigam (RVNL) with a target price of Rs 52

The brokerage in its research report has said that “We have rolled forward TP (valued at 7x PER) to FY24E and has BUY rating on the stock with an upside of 35%. H1FY22 Order book at Rs650bn provides revenue visibility for the next 3-4 years. RVNL trades at 5x FY24E EPS and offers a dividend yield of 5-7%. Catalyst for the stock is new order win in competitive bidding.”

Q2FY22 results of Amara Raja Batteries

According to the research report of IDBI Capital “Amara Raja’s Q2FY22 result was a mixed bag as its sales were ahead of our estimate while EBITDA was lower than our forecast. Amara Raja’s sales increased by 17% YoY to Rs22 bn as automotive and industrial sales rebounded. However, the sharp increase in prices of raw material (lead) led to a sharp contraction in margins. Its EBITDA declined by 21% YoY to Rs2,689 mn; EBITDA margins fell by 570 bps YoY and 138 bps QoQ to 11.9%. Net profit increased 16% QoQ to Rs1.4 bn due to higher other income (59% QoQ to Rs264 mn).”

Key highlights and investment rationale for Amara Raja Batteries according to the brokerage

Automotive segment strong: During Q2FY22, Automotive revenues growth was led by robust demand from Aftermarket across all product segments. Industrial volume growth was stable across all segments and volume growth was higher in UPS. However, supply chain challenges continue to persist in select export markets and the firm raw material prices will have an adverse impact on margins in the near term.

Recovery likely in H2FY22: While the second wave of Covid-19 has impacted Amara Raja’s H1FY21 performance, we expect a strong recovery in battery sales from H2FY22 and expect further improvement in FY23 mainly led by improvement in demand from replacement/exports segments.

Outlook: We expect Amara Raja’s sales/EBITDA/net profit to grow at a CAGR of 12%/15%/19%, respectively over FY22-24E. The recent decline in stock price provides an attractive entry point in the stock in our view ad valuation at 13x FY24 EPS remains inexpensive in our view.

Buy Amara Raja Batteries with a target price of Rs 940

IDBI Capital in its research has claimed that “We broadly maintain our FY22/FY23 sales forecasts. However, we lower our FY22-FY23 EBITDA margin estimates by 110-120 bps to account for the higher price of raw materials. We introduce FY24 estimates in the report and expect sales/EBITDA to grow by 12%/13%, respectively. We now value the stock at a PER of 17x FY24E (earlier 20x FY23E) EPS to derive a target price of Rs940 (earlier Rs918).”

Disclaimer

The above stocks are picked from the brokerage report of IDBI Capital. 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.

[ad_2]

CLICK HERE TO APPLY

Leave a comment

« 1 … 81 82 83 84 85 … 16,279 »

Stock Outlook
Current Market Price (CMP)	Rs. 989
Target Price	Rs. 1200
1 year return	21.30%