"The ability to lend and the willingness to lend have gone up, and that is helping the overall credit growth," the expert said, adding that the sectoral growth is primarily driven by "greater working capital utilisation".
The open offer for acquisition of up 1.67 crore equity shares, for which a price of Rs 294 per share has been fixed, will amount to Rs 492.81 crore if fully subscribed.
JM Financial is bullish on Poonawalla Fincorp has recommended buy rating on the stock with a target price of Rs 400 in its research report dated August 26 2022.
Based on the GMV of key categories on Tata Neu, JM Financial believes the value of Tata Digital "could be upwards of $15 billion".
Sonia Dasgupta has been associated with the company since 1995 in different capacities and succeeds Adi Patel and Atul Mehra, who were co-heads.
According to its website, Wildcraft was incorporated in 1998 and is engaged in the manufacturing and distribution of head-to-toe products for trek-to-travel solutions and its founders include Dinesh KS, Gaurav Dublish and Siddharth Sood. In 2013, Wildcraft raised $11 mn from Sequoia Capital. Later in 2018, the firm saw investments from Flipkart Group ( providing it a distribution platform via Myntra) and Asia focused fund FidelisWorld ( which said it would leverage its global network to help the business grow in India and overseas)
Its consolidated income grew a moderate 8.25 per cent to Rs 964.48 crore, the city-based company, which is into equity broking, investment banking and credit, said.
Total income of the diversified group, which is into broking, investment banking, asset reconstruction, and housing and retail loans, among others, rose 20.67 per cent to Rs 969.49 crore from Rs 803.40 crore.
Atul Mehra and Adi Patel, currently CO-CEO’s of the investment banking business, elevated as Joint MDs
The issue opens today and the minimum application size is Rs 10,000. These NCDs have been rated AA/Stable by ICRA and CRISIL
Mortgage lending book, comprising JM Financial Credit Solutions and JM Financial Home Loans, stood at Rs 7,614 crore.
Consolidated loan book rose to Rs 11,014 crore from Rs 10,833 crore in June 2020, Vishal Kampani, group managing director said, adding the June quarter numbers are the highest quarterly net profit for the group.