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Just because of the stock, HDFC bank came under pressure, a narrative got built, that the whole banking and financial services sector is facing headwinds. But the fact is financial service is a very broad term, it would be wrong to look at them with the same lens. Each segment is an industry in itself which is governed by an operating matrix which is very different from another. For example, a Housing finance company can be happy with 10 percent net margins, but for an average asset management company ( AMC) the net margin would be more than 30 percent. Similarly, a gold loan company is best of the NPA provisioning ability but the margins are not very high. The only common thing which binds the financial service sector is the GDP growth rate as the growth in all segments have a certain well defined relationship with growth in GDP. ....
While the under current of the market is still bullish but as corrections and consolidation are part of every bull market, nifty is moving in and out green, there are clear signs of profit booking taking place in the broader market with market breadth not being as positive as it used to be. While the initial part of any volatility is led by large caps, there is a higher probability that the large caps are able to stabilize much before any part of the market. So, if one is thinking of fresh exposure to the market it would be better to stick with large caps. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks. ....
Bajaj Finance: The RBI banned two of Bajaj Finanec products, viz. Insta EMI Cards and e-Comm transactions in November 2023 and Bajaj Finance suggested it expects to make the final submission to the apex bank within a few weeks.
Bajaj Finance registered a 22 percent on-year growth in consolidated net profit at Rs 3,639 crore in Q3 FY24, despite higher loan losses and provisions. ....