Cholamandalam Investment and Finance's (Chola) share has yielded one of the best returns in the last month. The company has sustained assets under management (AUM) growth at 7 per cent quarter-on-quarter (Q-o-Q), and 35 per cent year-on-year (Y-o-Y) in Q1FY25. Scaling up of new businesses now contributes to 13 per cent of loans (vs 10 per cent in Q1FY24).
The Reserve Bank of India's (RBI's) draft guidelines on gold loans, if implemented in their current form, are expected to impact non-banking financial companies (NBFCs) and mid-tier banks in the near term, more significantly than larger banks, according to analysts.
The years of sacrifice and hard work is finally paying dividends. The iconic Vellamal School, which is the alma mater of World champion Gukesh, now has another international player of repute to boast about. After all, Aravindh is Gukesh's senior.
The 18 year old from an impoverished family in Chennai won the Carrom World Cup, but the title has not changed either her or her father, an autorickshaw driver.
The DBS venture has been under financial stress of late.
Cholamandalam Investments approves issue of non-convertible debentures.
Reserve Bank of India on Thursday said 15 large NBFCs, including LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons, will be subject to enhanced regulatory requirements. The central bank has categorised NBFCs into Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL). A list of 15 large Non Banking Finance Companies (NBFCs) falling in the Upper Layer category has been released.
Tata Group remained India's largest business conglomerate in market capitalisation in calendar year 2023 while the Mukesh Ambani camp raced ahead of the Adani businesses to become the second-largest. The Tata companies ended 2023 with a combined group market capitalisation of Rs 28.68 trillion, up 35 per cent from the Rs 21.2 trillion at the end of December 2022. Ambani's group mcap is Rs 19.42 trillion at the end of CY23, up 10.7 per cent from the Rs 17.6 trillion a year ago.
Retail investors now own a bigger slice of small-cap companies than a couple of years earlier, attributable to their growing conviction in mutual fund (MF) schemes focused on this space. Data from Capitaline shows MFs' average holding in the National Stock Exchange Nifty Smallcap 250 rising to 8.67 per cent, from 7.67 per cent in the past two financial years, with the number of companies with over 20 per cent MF holdings, rising from 15 to 24. At the end of May, the top five small-cap firms with the highest MF holdings were Carborundum Universal, Blue Star, Cyient, Gujarat State Petronet, and Cholamandalam Finance.
While rising interest rates and tighter liquidity are giving negative signals for the financial sector, increasing economic activity could mean higher business volumes for lenders. Liquidity in the banking system has moved from Rs 8 trillion surplus into a deficit of Rs 33,000 crore over the 2022 calendar year. By the end of November, bank credit had grown 17.5 per cent YoY (year-on-year).
Tata AIG, ICICI Lombard and Nippon Life have evinced interest for the profit-making insurance arm of Reliance Capital (RCap), joining several prominent financial companies from India and abroad in the race for RCap's assets. The final day to submit an expression of interest (EoI) was March 25 and the bidders will now get access to the latest information about RCap before they make financial bids.
India's largest carmaker, Maruti Suzuki India (MSIL), is focused on getting 50 per cent of its customers' car-financing transactions executed through its Smart Finance platform by next year. Shashank Srivastava, executive director-sales, MSIL, said this will help the company turn its website into a single-window channel through which customers can select their models, find dealers, and arrange financing. He said there is a likelihood that 100 per cent of its customers availing of financing will take it through Smart Finance. To date, the company has disbursed Rs 6,500-crore loans via Smart Finance to around 100,000 customers, accounting for 28 per cent of all finance-based car-purchase transactions for the company.
The development comes after the shareholders of Ambadi Investments, the holding company of the Rs 38,100-crore Murugappa Group, voted against the induction of 59-year-old Valli Arunachalam, the eldest daughter of former executive chairman M V Murugappan, into its board.
While the stocks met various other inclusion parameters, there were fears they may still get disqualified given the sharp run up in their stock prices.
Cholamandalam DBS is looking for Management Trainees and Relationship Managers-Sales/ Credit/ Collections for its personal loans and home equity departments across major cities in India.
Cholamandalam Distribution Services Ltd on Wednesday said it has entered into a tie-up with UTI Investor Services Ltd to process IT PAN number applications in the country.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Murugrappa Group on Tuesday said it has bought 37.48 per cent stake in Singapore based DBS Bank making it to hold controlling stake in their joint venture company Cholamandalam DBS Finance Ltd.
Telenor Financial Services, IDFC Bank and Sun Pharma's Dilip Shanghvi have decided to withdraw their licence to set up a payments bank.
Maruti is not an online outlier, of course; other heavyweights have rolled out similar services. But as an analyst pointed out, Maruti's all-India roll-out has significant impact given that it accounts for over half of all cars sold, reports, reports Pavan Lall.
Vodafone m-pesa was one of the 11 firms that was given payments bank licence by the Reserve Bank of India in 2015.
Like the US, India too has a sub-prime market and it is booming. The success of early entrants like Citi Financial and GE Money has encouraged several others to enter the consumer lending business, nearly half of which is a sub-prime market.
For smaller MFIs, resuming operations is more difficult because they haven't got any fresh bank credit sanctioned from their lenders.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'Stick to the known quality names, avoid short term thinking and don't be in a hurry to book profits on your winners.'
The Rs 4,200 crore (Rs 42 billion) Murugappa group is toying with the idea of including a foreign strategic partner in its mutual fund arm Cholamandalam AMC, which plans to double its business to Rs 2,500 crore within a year.
Companies like public sector New India Assurance, one of the largest general insurers, and private Cholamandalam M S General Insurance, part of the Murugappa group, have already launched their mobile apps that enable customers to renew their policies or buy new ones.
All investors are value investors. Or they at least like to believe this. So let us see why VI is so difficult to achieve, even though philosophically it is easy to understand.
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
The BSE Midcap index has declined 5.7% thus far in May 2018. In comparison, the S&P BSE Small-cap index has lost 5.6%
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
Last August, RBI gave in-principle approval to 11 applicants.
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