The Small Finance Bank aims to build a full-fledged retail franchise in the next 3-5 years as is sets stage to go public on June 28 with its initial public offer (IPO) to raise Rs 1912 crore
The latest such player is Incred. Backed by Deutsche Bank's former co-CEO Anshu Jain, it lends to individuals and small- and medium-sized enterprises (SMEs) including start-ups.
In an interview to CNBC-TV18, Santosh Singh, Head of Research India at Haitong Securities shared his readings and outlook on a few of the NBFCs.
Sridhar, who has worked with the Sriram Group since 1985, will be taking over from Vimal Bhandari who led the firm since 2011. Bhandari will remain on the board of IndoStar and stay as a shareholder, a company release said.
While the economy’s dependence on bank credit has fallen, there is a risk of future growth being imperilled because banks have funded capacity creation and other sources of funding are shallower.
Gautam Shah of JM Financial believes that the current bull market cannot be derailed by smaller developments. He expects the Nifty to bottom out soon and touch 9500 by May.
RBI observed that the companies have violated various provisions of the Fair Practices Code guidelines and thereby issued a show cause notice to both.
The brokerage house believes that the NBFC is taking the right steps and there will be short-term pain due to them, but in the long run it will be a positive for it.
Mahesh Patil of Birla Sun Life AMC sees companies with good earnings visibility to be a key to the market and domestic-focussed ones will see a pick up in results. He prefers consumer discretionary, NBFCs and metals from a long term perspective.
Rashesh Shah of Edelweiss Financial Services believes the market seems to be settling at a fairly strong base. He now sees strong credit growth coming from outside of the banking arena.
"While the 90 + days delinquency rate in the commercial vehicle (CV) loan segment largely stabilised in the first half of the fiscal year, such delinquencies should build up in the near-term due to the adverse impact of note ban and tighter recognition norms for NPAs," Moody's vice-president and senior analyst Alka Anbarasu said in a report today.
The massive subscription pushed up the borrowing cost for HNIs as it meant fewer shares allotted. But in the end, it was well worth the risk.
Dipen Sheth of HDFC Securities recommends looking for fundamentally strong stocks, even if it means looking outside the index ones. He is upbeat on Repco Home Finance and TeamLease Services.
The media has been abuzz with the rumours of IndusInd Bank (IIB) and Bharat Financial Inclusion (BHAF) coming together. This isn‘t the first marriage in the space. In the past, IDFC Bank had acquired Tamil Nadu-based Grama Vidiyal Microfinance and Kotak Bank had acquired BSS Microfinance. So there are clearly merits of acquiring a Micro Finance Institution (MFI) for a bank.
Non-Banking Finance Companies (NBFCs) cannot lend more than Rs 25,000 in cash against gold, the Reserve Bank said today.
The IPO of Avenue Supermarts, which runs the D-Mart supermarket chain, is likely to see significant oversubscription. However, if the so-called GMP (grey market premium) is any indicator, the blockbuster listing might ensure healthy gains for HNIs if the oversubscription doesn‘t cross historic highs.
"PFC, a Non-Banking Financial Company (NBFC) in power sector, has sanctioned a term loan of Rs 2,703.88 crore to West Bengal Power Development Corporation Ltd (WBPDCL) for construction of Unit 5 (1 X 660 MW) under phase III of Sagardighi Thermal Power Station in Murshidabad," the company said in statement.
Dr Reddy's Laboratories today announced that it has acquired 100 per cent stake in Imperial Credit Private Ltd, a Kolkata-based non-banking finance company.
The money will be utilised predominantly for the construction of a residential project 'Project Zuri' in Thane.
Reserve Bank of India Deputy Governor R Gandhi said that banking services were no longer limited to banks and specialised financial technology startups were eating into the business of banks and growing exponentially.
The brokerage firm is going big on the NBFC space particularly on the housing finance companies as the government aims to attain a "Housing for All", Prime Minister Narendra Modi‘s pet project, by 2022, believes Vaibhav Agrawal, Head-Research & ARQ, Angel Broking
Mannapuram Finance has picked Nucleus Software's Finone Neo Solution, which is a loan life cycle management product. Nucleus is a provider of lending and transactions banking solutions.
The Reserve Bank of India has granted a non-banking finance company license to company's wholly owned subsidiary APM Finvest, the company said in its filing.