Stocks to Watch, 30 October: Stocks like Larsen & Toubro, LIC Housing Finance, Bharat Heavy Electricals, PB Fintech, United Breweries, Le Travenues Technology, RailTel Corporation of India, NTPC Green Energy, Sagility, Steel Authority of India, Brigade Enterprises, Mahanagar Gas, VST Industries, Wipro, and Zydus Lifesciences will be in focus on October 30.
Stocks to Watch, 31 July: Stocks like Tata Steel, Aurobindo Pharma, Gujarat Gas, Navin Fluorine International, Hitachi Energy, Sagility India, InterGlobe Aviation, Mahindra and Mahindra, Brigade Hotel Ventures, and Jio Financial Services will be in focus on July 31.
Emkay Global Financial is bullish on Fino Payments Bank has recommended buy rating on the stock with a target price of Rs 300 in its research report dated April 30, 2025.
Stocks to Watch, 29 Apr: Stocks like RPG Life Sciences, Adani Green Energy, Oberoi Realty, Fino Payments Bank, KFin Technologies, Plastiblends India, Hatsun Agro Product, AWL Agri Business, Adani Total Gas, Nippon Life India Asset Management, Firstsource Solutions, Go Digit General Insurance, and Greenply Industries will be in focus on April 29.
Would prefer to convert to a small finance bank, even if permitted to lend as payments bank, says Rishi Gupta, MD and CEO, Fino Payments Bank
The payments bank in Q1FY25 reported robust growth across segments. The cash management business of the bank saw some pressure on its margins, Rishi Gupta, MD and CEO said, due to a mix in clients. In addition, digital business overall saw robust growth which they would want to continue, Gupta added.
The bank, Gupta said, applied to the central bank for the permit to operate as a small finance bank in December 2023 and is currently waiting for clarity from the regulator.
The average deposits of the lender grew 49 percent on a year-on-year (YoY) basis from Rs 905 crore in FY23 to Rs 1,352 crore in FY24.
Fino payments bank now has three women members on its board
Fino Payments Bank Q3 results: The lender's average deposits grew 42 percent from Rs 955 crore in the reporting quarter to Rs 1,358 crore in the corresponding quarter last year.
On July 28, the bank’s board approved the proposal for the transition of the bank into a small finance bank (SFB).
Gupta added that his guidance is for Fino Payments Bank to grow at a 20 percent margin. He added that the bank was expecting to have 1.05 crore customers by March 2024
The company’s board has also approved a proposal to transition to a small finance bank.
The 19,600-19,500 zone may be crucial for Nifty and, if this is breached, then correction can be seen towards 19,300. On the higher side, 19,700-19,800 is important to watch out for as a decisive close above 19,800 may take it towards its fresh all-time high
For the reporting quarter, its total income grew to Rs 348 crore from Rs 289 crore in the year-ago period
Fino is working on plans to become a small finance bank, although it hasn’t set a timeline, chief financial officer Ketan Merchant said.
The company’s net profit jumped 25 percent YoY to Rs 22 crore while total revenue increased 13 percent YoY TO Rs 323 crore. Total deposits for the quarter jumped 66 percent on a yearly basis to Rs 1,200 crore.
The Navi Mumbai-based payments bank said its revenues grew 14.2 per cent to Rs 314.1 crore during the reporting quarter.
Creating a level playing field with other financial institutions a must, hence expecting relaxation in end-of-the-day deposit and other services, Ketan Merchant, CFO, said
The Ward Ferry Management-operated fund, in total, has bought 67.75 lakh shares in PB Fintech, which is 1.5 percent of the total paid-up equity.
Instead of following the traditional brick-and-mortar credit-based model, Fino's SFB plan will offer products to the customer through merchant points and a digital platform in an asset-light manner, Rishi Gupta says.
During the lock-in period, promoters and investors cannot liquidate the pre-IPO securities held by them
The bank started operations in June 2017 following RBI's license to promote digital payments and enable financial inclusion, providing banking services in unbanked and under-banked locations through a branchless network of tech-enabled points, the Bank's Chief Sales Officer Shailesh Pandey told PTI.
Board also approves the appointment of Rakesh Bhartia as independent director for five years
Gupta was referring to RBI guidelines that say Payments Banks cannot lend; they also cannot accept deposits in excess of Rs. 2 lakh.