In the statement issued to bourses following media reports that IndusInd and BFI (formerly SKS Microfinance) are likely to announce a merger in an all-stock deal, the bank said the management has been authorised to evaluate strategic opportunities for business expansion.
Bharat Financial Inclusion (formerly SKS Microfinance), today said its net profit rose by nearly 80 per cent to Rs 143 crore in the third quarter of 2016-17 financial year.
Shares of Bharat Financial Inclusion, formerly known as SKS Microfinance, rallied 5.6 percent intraday after the company launched its qualified institutional placement (QIP) offer worth Rs 750 crore.
The Capital Raising Committee of the board of the company at a meeting held passed the resolutions to authorise the opening of the offer today i.e., September 22, 2016, the company said in a regulatory filing.
"With valuations at 4x FY18 price-to-book for 25 percent normalised return on equity, we find the stock expensive and downgrade it to underperform (from neutral)," the brokerage house says.
Net interest income, the difference between interest earned and interest expended, grew by 70.7 percent to Rs 198 crore in the quarter ended June 2016 compared with Rs 116 crore in year-ago period, which was in-line.
Net profit is likely to be at Rs 129 crore during the quarter against Rs 61 crore in same period last year and net interest income may grow to Rs 211 crore from Rs 117 crore, according to average of estimates of analysts polled by CNBC-TV18.
Bharat Financial Inclusion Ltd, formerly known as SKS Microfinance, may raise Rs 10,000 crore during the current fiscal to meet the lending requirements, a top executive of the micro-lender said today.
According to Rahul Shah of Motilal Oswal, one can buy SKS Microfinance and Indian Oil Corporation and short Larsen & Toubro.
The company's cost of borrowing is at 9.2 percent currently, same as the fourth quarter of last fiscal year, said PH Ravikumar, Non-Executive Chairman, Bharat Financial Inclusion. He said it can decline by 25-50 basis points (bps) going ahead.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Tata Motors, Jet Airways, Orient Bank of Commerce and Aurobindo Pharma.
According to Sudarshan Sukhani of s2analytics.com, one can sell Motherson Sumi Systems, United Breweries and Voltas and buy SKS Microfinance and Dabur India.
Ashwani Gujral of ashwanigujral.com recommends buying Ambuja Cements, Petronet LNG, Siemens and SKS Microfinance.
Ashwani Gujral of ashwanigujral.com is of the view that one may buy YES Bank and SKS Microfinance.
Ashwani Gujral of ashwanigujral.com is of the view that one can sell Bharat Forge and Ashok Leyland.
Ashwani Gujral of ashwanigujral.com recommends buying Escorts, SKS Microfinance and NBCC.
ITC | SBI | Maruti Suzuki | Tech Mahindra | BASF | Future Consumer | Grasim Industries | JSPL | Max Ventures | SKS Microfinance | Majesco | Bayer Cropscience | United Breweries Holdings | Bajaj Finance | Sobha | Shrenuj & Company | Sharon Bio Medicine and Asian Paints are stocks, which are in the news today.
Ashwani Gujral of ashwanigujral.com recommends buying Tata Motors DVR, Ambuja Cements, SKS Microfinance, DLF and M&M Financial Services.
Mitesh Panchal of Affluence Shares & Stocks is of the view that one may buy Glenmark Pharma with a target of Rs 800.
Ruchit Jain of Angel Broking advises buying Rural Electrification Corporation (REC) with a target of Rs 174.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Hero MotoCorp, Tech Mahindra and Tata Consultancy Services and feels that Coromandel International may hit Rs 320.
Ashwani Gujral of ashwanigujral.com recommends buying Mahindra & Mahindra Financial Services, SKS Microfinance and UPL.
Sudarshan Sukhani of s2analytics.com recommends buying SKS Microfinance.
According to Ashwani Gujral of ashwanigujral.com, one can buy Page Industries and sell HDIL and Power Finance Corporation.
NBFC stocks like SKS Microfinance, Manappuram Finance, Capital First, Equitas Holdings and SREI Infra will get astro support, says Satish Gupta of astrostocktips.