M R Rao, currently the MD and CEO of Bharat Financial, will become the MD and CEO of IFIL
The company had registered a net profit of Rs 211 crore in the corresponding period of the previous fiscal, the company said in a BSE filing.
Net Interest Income (NII) is expected to increase by 56.2 percent Y-o-Y (down 3.3 percent Q-o-Q) to Rs. 440 crore, according to Kotak.
Bharat Financial Inclusion assigned a pool of receivables of an aggregate value of Rs 849.36 crore to one of the largest private sector banks on a direct assignment basis.
In a regulatory filing, the company said it completed the fourth securitisation transaction of Rs 429.88 crore on November 6.
Centrum recommended hold rating on Bharat Financial Inclusion with a target price of Rs 1439 in its research report dated August 10, 2018.
IndusInd Bank had decided to acquire the BFIL through an all-stock transaction of BFIL into IndusInd through a composite scheme of arrangement.
Centrum Research recommended hold rating on Bharat Financial Inclusion with a target price of Rs 1240 in its research report dated April 27, 2018.
According to a filing with bourses, BFIL said it has received 'no objection certificate' from the Reserve Bank of India (RBI) for the proposed merger.
Net Interest Income (NII & OI) is expected to increase by 71.3 percent Y-o-Y (up 14.7 percent Q-o-Q) to Rs. 419.3 crore, according to Edelweiss.
The market breadth was in favour of the advances with 1432 stocks advancing while 306 declined and 314 remained unchanged. On the other hand, in the BSE, 1997 stocks advanced and 546 declined and 130 remained unchanged.
The market breadth was in favour of the declines with 526 stocks advancing while 1207 declined and 293 remained unchanged. On the other hand, in the BSE, 862 stocks advanced and 1751 declined and 186 remained unchanged.
The MoU was inked in the presence of Animal Husbandry Minister Antar Singh Arya and BFIL CEO and MD Geoff Woolley and other top officials here last evening.
Chandan Taparia of Motilal Oswal Securities recommends buying Bharat Financial Inclusion, Kotak Mahindra Bank and Reliance Industries.
Centrum Research has recommended hold rating on Bharat Financial Inclusion with a target price of Rs 1193 in its research report dated February 27, 2018.
Mitessh Thakkar of miteshthacker.com is of the view that one can sell CG Power and can buy Godrej Consumer.
Mitessh Thakkar of miteshthacker.com is of the view that one can sell Ambuja Cements and Bharat Electronics and can buy Bharat Financial Inclusion and Bajaj Auto.
Disbursement growth is expected to be strong due to pick up in rural economy.
Prakash Gaba of prakashgaba.com is of the view that one can buy Bharat Financial Inclusion, GAIL India, NMDC and State Bank of India.
Bharat Financial Inclusion has written off Rs 470 crore of nonperforming assets (NPA) this year. CNBC-TV18's Abhishek Kothari caught up with MR Rao, MD & CEO of the company and asked him about how much of this amount they hope to recover.
It said cumulative collection efficiency rose to 99.8 percent, while its loans disbursals rose to Rs 12,582 crore between January and October 15, 2017, taking its gross loan portfolio to Rs 10,697 crore.
One of the most exciting parts of this proposition is the acquisition of 68.5 lakh customer base of BFIL, their wide coverage of 320 districts & reach of 100000 villages, said Romesh Sobti, MD & CEO, Indusind Bank.