This Pesticides And Agro Chemicals Company To Soon Pay A Special Dividend Of Rs. 125

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Investment

oi-Roshni Agarwal

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Dividend is a passive source of income that is always chased upon by investors for better gains other than stock’s appreciation. There are three type of dividends-interim, final and special dividend. Here we shall discuss about one such company that will soon be paying special dividend of Rs. 125. Special dividend is recommended by board of the company and approved by its shareholders in the Annual General Meeting (AGM).

This Pesticides And Agro Chemicals Co. To Soon Pay A Special Dividend Of Rs. 125

This Pesticides And Agro Chemicals Company To Soon Pay A Special Dividend Of Rs. 125

The stock of Bayer Crop Science turned ex-date today i.e. November 11, 2021 and usually the dividend is received or payment is received by eligible shareholders within 30 days of its approval.

About the company:

Bayer Crop Science is a mid cap company that has capabilities in the areas of biotechnology, crop protection and data sciences. The company manufactures crop protection products such as herbicides, insecticides, fungicides and seed treatment, non agricultural pest-control, seeds and plant biotechnology. The company’s latest m-cap stood at Rs. 21,356 crore.

In the last September ended quarter of FY22, the firm total income from operations at Rs. 1365.1 crore and consequently its net profit for the period came in at Rs. 154.1 crore lower than Rs. 254 crore reported in the previous quarter. Also, the company has a history of being a debt free enterprise.

Bayer Crop Science dividend history

Dividend ex-date Type Dividend in Rs.
27th July 2021 Final 25
27th July 2020 Final 25
23rd June 2020 Interim 90
10th July 2019 Final 18
6th August 2018 Final 18



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Department of Posts, payments bank arm to sell Bajaj Allianz Life products

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Bajaj Allianz Life Insurance Company (BALIC) has entered into a strategic partnership with Department of Posts and India Post Payments Bank to offer two Point of Sale (PoS) products — a term product and an annuity product — through the postal department’s network of 1,36,000 banking access points and the payments bank’s 650 branches.

Through this alliance, BALIC has become the first private life insurer in the country to enter into a tie up with the Department of Posts for sale of PoS products.

Augment earlier offerings

Speaking to BusinessLine post the announcement of this partnership, Tarun Chugh, Managing Director & Chief Executive Officer, BALIC, said that Bajaj Allianz Life Smart Protect Goal and Bajaj Allianz Life Guaranteed Pension Goal will be available to customers in addition to DOP’s existing Postal Life Insurance and Rural Postal Insurance products.

Chugh said. While SPG is a term insurance product, GPG is an annuity product that aims to meet post retirement expenses as it offers guaranteed and fixed pension product. “It’s a guaranteed pension product”, Chugh said.

Expand access

This alliance will enable the lakhs of Gramieen Dak Sevaks to offer financial solutions in rural areas.

“We are confident that this partnership will play an integral role in increasing the adoption of life insurance across various customer segments.”, Chugh said.

It maybe recalled that BALIC had, in 2018, entered into corporate agency agreement with IPPB. Now, this arrangement is being expanded into a more comprehensive and expansive agreement with the inclusion of the Department of Posts (DoP). , according to Chugh.

Pawan Kumar Singh, DDG – FS & PBI, Department of Posts (DoP), said, “With this partnership, we will take financial inclusion forward. The Department of Posts is going to play a major role in ensuring financial inclusion in days to come,” he said.

Financial inclusion

Singh added that technology will play a major role in financial inclusion and highlighted that the entire network of 1.57 lakh post offices is seamlessly connected.

J Venkatramu, MD & CEO, India Post Payments Bank, said that IPPB already offers Pradhan Mantri Jeevan Jyoti Bima Yojana to its customers that aligns with Government’s mission of creating a universal social security net and making insurance affordable for the underprivileged and disadvantaged sections.

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Banks allowed to offer interest rate on FCNR (B) deposits linked to ARR

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The Reserve Bank of India has decided to permit banks to offer interest rates on FCNR (B) deposits using widely-accepted ‘Overnight Alternative Reference Rate (ARR) for the respective currency’ with an upward revision in the interest rates ceiling by 50 basis points (bps).

This comes in view of the impending discontinuance of LIBOR (London Inter-Bank Offered Rate) as a benchmark rate.

As a measure to handle the information asymmetry during the transition, the Foreign Exchange Dealers Association of India (FEDAI) may publish the ARR till such time the widely-accepted benchmark is established, the central bank said in a circular to banks.

The RBI said the interest rates ceiling on FCNR (B) deposits of 1 year to less than 3 years shall be overnight ARR for the respective currency / Swap plus 250 bps against LIBOR/ Swap plus 200 bps now.

Further, the interest rates ceiling on FCNR (B) deposits of 3 years and above up to and including 5 years shall be overnight ARR for the respective currency / Swap plus 350 bps against LIBOR/ Swap plus 300 bps now.

Foreign Currency (Non-Resident) Account (Banks) scheme allows non-resident Indians (NRIs) and Person of Indian Origin (PIO) to open a term deposit account (for terms not less than 1 year and not more than 5 years) in India in any permitted currency — that is a foreign currency which is freely convertible.

Such accounts may be held jointly in the names of two or more NRIs/ PIOs. NRIs/ PIOs can also hold such accounts jointly with a resident relative on ‘former or survivor’ basis (relative as defined in Companies Act, 2013).

The resident relative can operate the account as a Power of Attorney holder during the life time of the NRI/ PIO account holder.

RBI said the overnight ARR for the respective currency / Swap rates quoted/ displayed by FEDAI shall be used as the reference for arriving at the interest rates on FCNR (B) deposit.

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Buy This Retail Stock With A Target Price of Rs 5120 Says ICICI Direct

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Q2FY22 results of V-Mart

According to the brokerage “The company exhibited strong revenue traction with V-Mart recording 100% revenue recovery on Q2FY20 base (excluding Unlimited format).”

“On a favourable base, revenue grew 93% YoY to Rs 338 crore. Newly acquired 74 Unlimited Stores in September contributed 6.9% to sales. Better gross margins and positive operating leverage resulted in V-Mart reporting EBITDA margins of 6.1% vs. a loss of Rs 0.4 crore in Q2FY21. The base quarter had a higher other income (Rs 15 crore in Q2FY21 vs. Rs 4 crore in Q2FY22) owing to rental waivers. Subsequently, net loss was at Rs 19.4 crore vs. Rs 25.6 crore in Q2FY21” said ICICI Direct in its research report.

Key triggers for future price performance of V-Mart according to ICICI Direct

Key triggers for future price performance of V-Mart according to ICICI Direct

  • We like V-Mart as a structural long term story to play the unorganised to modern retail shift. We pencil in revenue, EBITDA CAGR of 46%, 51%, respectively, in FY21-24E (on favourable base).
  • The recent acquisition of ‘Unlimited’ store brand (74 stores) will enable V-Mart to cater to the fashion needs in western and southern markets of India (where V-Mart has minimal presence).
  • We expect total retail space to increase at ~19% CAGR in FY21-24E with a total area of 3.8 million square feet by FY24E (excluding Unlimited stores).
  • Robust liquidity position (Rs 155 crore as on Q2FY22) to fund store capex requirements and set up new integrated warehousing facility.

Buy V-Mart with a target price of Rs 5120

Buy V-Mart with a target price of Rs 5120

According to the brokerage “V-Mart, having over the years built its fortress in non-tier I cities is well poised to capture market share in the growing ~| 2.5 trillion value fashion industry. The company, over the last two years, has expanded its reach in the interior parts of the country by opening stores in tier IV cities (~12% of total stores).”

ICICI Direct has said in its research report that “V-Mart has been a consistent compounder with stock price appreciating at 45% CAGR in the last five years. We maintain BUY recommendation on the stock. We value V-Mart at Rs 5120 i.e. 22x FY24E EV/EBITDA.”

Disclaimer

Disclaimer

The above stock is 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.



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NPCI Bharat BillPay on-boards ICICI Prudential Life Insurance on ClickPay

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NPCI Bharat BillPay has tied up with ICICI Prudential Life Insurance to provide ClickPay to the insurer’s customers.

ICICI Prudential Life Insurance is the first insurance company to offer this facility of ClickPay to its customers empowering them to make renewal premium payments with ease.

“To offer an automated and valuable insurance premium payment experience, ICICI Prudential Life Insurance will generate the ClickPay link and share it with the customers which will redirect them to the payment page comprising payment details,” said a statement on Thursday.

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CredAble launches UpScale app – The Hindu BusinessLine

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AI-powered technology platform CredAble has launched UpScale,a credit and cash flow management app enabling growth for SMEs in the country.

“UpScale connects with the existing accounting software of the business, syncs in transaction details, connects with bank accounts and credit bureaus and gives instant access to working capital with the help of partnering financial institutions,” it said in a statement.

Nirav Choksi, Co-founder and CEO, CredAble said, “Due to broken financial management, only 16 per cent of MSMEs have access to formal credit, creating a gap of $ 350 billion. It is important that MSMEs manage their finances better and scale faster.”

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FinMin convenes stakeholders’ meeting for ensuring seamless flow of credit

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The Finance Ministry has convened a stakeholders’ conference, involving participation of chiefs of major lenders, secretaries of various central ministries/ departments, and industry associations, on November 17 and 18 for building synergy for seamless flow of credit into different sectors of the economy.

Secretaries representing various ministries/ departments of the Government of India are expected to provide insights to lenders pertaining to initiatives or projects in pipeline of their respective ministries/ departments that may require funding support.

Industry representatives too will be sharing their perspective on the evolving demand-supply situation in the economy and their credit requirements.

Also read: Credit offtake pickes up over the last two fortnights

This meeting comes in the backdrop of degrowth in corporate credit that lenders have witnessed on a year-on-year basis.

However, banks have built a robust pipeline of loan sanctions and they expect disbursals to pick up steam either towards the end of the current quarter or from the beginning of next quarter.

The chiefs of all public sector banks, top six private sector banks, six large non-banking finance companies, four all India financial institutions, and IIFCL and IFCI have been invited to participate in the meeting.

Message to banks

In his recent meeting with the chiefs of public sector banks and certain private sector banks, Shaktikanta Das, Governor, Reserve Bank of India (RBI), emphasised the need for banks to continue providing necessary support in the revival of economic activity.

Das had 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.

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Reserve Bank of India – Press Releases

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Government of India has announced the sale (re-issue) of Government Stock detailed below through auctions to be held on November 12, 2021

As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under:

(₹ crore)
Security Notified Amount Minimum Underwriting Commitment (MUC) amount per PD Minimum bidding commitment per PD under ACU auction
4.26% GS 2023 2,000 48 48
New GS 2026 6,000 143 143
6.67% GS 2035 9,000 215 215
New GS 2051 7,000 167 167

The underwriting auction will be conducted through multiple price-based method on November 12, 2021 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E- Kuber) System between 9:00 A.M. and 9:30 A.M. on the date of underwriting auction.

The underwriting commission will be credited to the current account of the respective PDs with RBI on the date of issue of securities.

Ajit Prasad          
Director (Communications)

Press Release: 2021-2022/1177

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Banks, auto stocks drag Indian shares as inflation fears weigh, BFSI News, ET BFSI

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BENGALURU – Indian shares ended lower on Thursday, weighed down by losses in banking and automobile stocks, with investor sentiment also soured by broad worries about inflation triggered by a big jump in U.S. consumer prices.

The blue chip NSE Nifty 50 index closed down 0.80% at 17,873.60, while the benchmark S&P BSE Sensex lost 0.72% to end at 59,919.69.

The markets have struggled to build on momentum from a slight festival-led rebound seen last week following October’s correction, with the main indexes on track to end lower for the current week.

Data on Wednesday showing U.S. consumer prices surged at the fastest pace since 1990 last month reverberated across global markets, driving a slide in both Asian and European shares.

On investors’ radar is India’s October retail inflation reading on Friday, with a Reuters poll of 43 economists forecasting inflation likely hovered near a six-month low.

In Mumbai trading, the Nifty Bank Index fell 1.19% to record its fourth straight session of losses. State-run lender State Bank of India was down 2.8% and was among the top percentage losers on the Nifty 50.

The Nifty Auto Index ended 1.18% lower, snapping a four-session streak of gains. Eicher Motors and Tata Motors shed more than 1.4% each.

Among individual stocks, shares of Zomato added 3.6% after the company posted quarterly revenue that more than doubled as orders on its food delivery business zoomed.

Consumer goods maker Godrej Consumer Products fell as much as 3.2% after missing September-quarter profit estimates.

Conglomerate Piramal Enterprises was down 3.9% after its quarterly profit, revenue fell.



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Shriram Capital appoints Ajay Thomas John as Chief Digital Officer, BFSI News, ET BFSI

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Shriram Capital Ltd, a financial conglomerate, today appointed Ajay Thomas John as their Chief Digital Officer.

D V Ravi, MD & CEO, Shriram Capital said, “ As we lay special focus on creating value through the smart use of digital tools, platforms, AI / ML, and other emerging technologies, I believe this will lead to an overall robust digital ecosystem across the companies”

Ajay, an MBA in Finance from Anna University, has 17 years of experience in the financial services industry. Before joining Shriram, he worked at Bajaj Finance Ltd, HDFC Bank, CitiFinancial and fintech startups.

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