Shriram Transport Finance plans rights issue.
Check out some of the stocks that will react on the basis of their numbers in the near term.
Leading non-banking financial company (NBFC) Shriram Finance on Friday said Japan-based MUFG Bank would invest Rs 39,618 crore, or $4.4 billion, to acquire a 20 per cent stake on a fully diluted basis through a preferential issue of equity shares.
The issue also underscores the growing scrutiny by investors and voting advisory firms of the performance of board members.
A development finance company based in Netherlands, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden on Tuesday acquired 3.95 per cent equity in two principal truck-financing companies of the Shriram Group for around Rs 12 crore (Rs 12
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
Analysts believe that new companies getting into banking space will look at acquiring old private banks. Following this view, there has been a significant rally in banking stocks.
'The market has picked up for commercial vehicles. We are very close to pre-pandemic levels.'
The Reserve Bank of India's rate-setting panel on Wednesday began its three-day deliberations on the next bi-monthly monetary policy amid expectations of at least a 35-basis-point hike in the interest rate to check high inflation. If raised, it will be the third consecutive hike in the repo rate -- the short-term rate at which the RBI lends money to banks. The central bank has already announced to gradually withdraw its accommodative monetary policy stance.
Licence winners are expected to be announced by the first quarter of 2014.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
With liquidity crunch hitting operations, many finance companies have put the brakes on sanctions in the third quarter in the aftermath of the IL&FS crisis.
But the industry's chief executives remain confident of the long-term growth potential of NBFCs in India, given their specialised lending on the asset side, last-mile reach, and a well-capitalised balance sheet. "Over the years, NBFCs have faced many crises.
Liquidity has improved, but 20 out of 24 NBFC stocks are staring at an over 5% reduction in 12-month target prices.
Asset financing firms are still witnessing subdued demand and meaningful recovery is likely only in FY16, the report said.
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).
Some of the top indebted companies likely to face financial headwinds in the coming quarters include NTPC, PowerGrid, Tata Steel, Adani Power, JSW Steel, UPL, and Steel Authority of India. Together these 201 companies owed Rs 14.9 trillion to their lenders at the end of September 30, 2019, up 4.1 per cent year-on-year (YoY) during the first half of FY20.
An initial reading of the guidelines indicates two factors - potential rise in borrowing cost and lower returns on investment book - could hit the spread of NBFCs.
Real estate will prosper, small developers won't.
Ajay Piramal bets highly on infrastructure, realty
Average overall sales which used to be around 8,000 units a year ago has dropped to 7,000-7,500 units in a month. A lot of government projects have been announced but these are yet to translate to boost CV sales.
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
BHEL down around 2.4% and Bharti Airtel down around 1.6% were other major losers.
Unlike bank FDs that are considered risk-free investments, NCDs do carry a certain amount of risk, primary among them is the risk of default, either servicing the interest payment or meeting their principal repayment obligations.
Second-tier NBFC stocks are trading at 24.4x their trailing earnings, which is nearly twice their 15-year average of 13.9x
Indians face COVID-19 with record debt, stalled income.
Stocks such as ICICI Bank, Axis Bank, State Bank of India, Bank of Baroda and HDFC Bank are among the top banking picks of analysts for 2017. A decline in cost of funds and treasury gains are expected to help stabilise their net interest margins
ICICI Bank was the top loser along with index heavyweights RIL, ITC and HDFC.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Nifty50 surged 145 points to close at 8,468 after hitting an intra-day high of 8,475.
In the past three years, personal loans have grown at twice the rate of growth in personal disposable income, leading to a steady rise in household indebtedness. At the end of March this year, Indians owed Rs 25.2 lakh crore to banks and listed non-banking finance companies (NBFCs), up 65 per cent in the past three years.
With a loan book of $268 billion, India's retail banking is now ahead of Russia, Malaysia and Mexico but behind China, Brazil and Thailand
Rate-sensitive sectors like banks, auto and realty witnessed strong buying demand in trades today
Nifty crosses 9,750-mark; Bharti Airtel, TCS, Wipro, Lupin and Coal India gained the most on BSE Sensex
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
Attractions range from start-up challenges to non-monetary perks; employee stock options also play a role.
Promoter holding in family-owned firms up 70 bps since 2005, 240 bps since 2010.
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