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The government is unlikely to go for a farm loan waiver this time around, says Parag Jariwala of Religare Capital markets. Earlier waivers had more to do with lack of funds due to crops getting impacted by drought. However, the current cash crunch from demonetisation might soon get resolved so there is not much case for a waiver, Jariwala notes.
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The Reserve Bank of India (RBI) hiked the cash reserve ratio (CRR), the percentage of cash deposits that banks have to maintain with RBI – at 100% of the deposits (NDTL) accrued between September 16 and November 11 as incremental cash reserve ratio.
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The combination of factors such as passage of Goods and Services Tax, implementation of Seventh Pay Commission, besides a good monsoon and the central bank cutting rates is likely to trigger earnings recovery for companies going ahead, according to Gautam Trivedi, Managing Director and Chief Executive of Religare Capital Markets.
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The provision coverage ratio for Indian PSU banks is at 45 percent. But Parag Jariwala, Religare Capital Markets says the ideal number should be around 60-65 percent. Due to this shortage, he says the credit costs for PSU banks may start rising in a year's time.
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While many cost synergies may arise out of the merger, being a public sector bank, it cannot fire redundant employees, notes Parag Jariwala of Religare Capital, adding, pension-related costs will also inch up.
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Nitin Kumar of Prabhudas Liladher maintains a bullish stance on the company and keeps a target of Rs 300 on the stock.
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Parag Jariwala, VP — institutional research, banking and financial services, Religare Capital Markets, gives his views on the banking sector.
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Parag Jariwala, vice president-institutional research, Religare Capital Markets says the next few quarters are likely to be painful for the public sector banks (PSBs).
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Parag Jariwala, VP - Institutional Research, Banking And Financial Services at Religare Capital Markets has a negative view on SKS Microfinance and has a target of Rs 320.
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Watch the interview of Parag Jariwala of Religare Capital Markets with Sonia Shenoy and Latha Venkatesh on CNBC-TV18, in which he shared his reading and outlook on SKS Microfinance and its Q2 numbers.
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Watch the interview of Parag Jariwala of Religare Capital Markets with Ekta Batra & Nigel D'Souza on CNBC-TV18, in which he spoke about stocks in financial space.
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Parag Jariwala, VP-Institutional Research, Banking and Financial Services, Religare Capital Markets in an interview to CNBC-TV18 gave the rationale behind sell call on SKS Microfinance and his preference for private banks over public sector banks.
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Nobody from the private sector wants to lose out the hefty pay packages which are into millions and take very challenging role of PSU, says Parag Jariwala of Religare Capital Markets.
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Jariwala said mid-tier PSU banks looked attractive, but he but would not buy them as ‘there was no scope for tremendous improvement in their profitability.‘
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According to Parag Jariwala, VP-Institutional Research, Banking and Financial Services, Religare Capital there is no reason to be excited with Bank of Baroda slippage number because it could be an aberration and the total stress formation is still high for the bank.
