Banks & NBFCs 4QFY21 Results Preview - HDFC Securities
Posted On:
Mr. Krishnan ASV, Institutional Research Analyst, HDFC Securities
Beyond a favourable base
We expect our coverage universe to clock a sequential PPOP growth of ~10% on the back of improving business traction. With the SC-imposed standstill on NPL recognition lifted, lenders should report a significant rise in slippages and GNPAs. We expect incremental provisions to moderate sequentially across our coverage universe, with lenders having built significant provision buffers during 9MFY21. We expect sequential improvement in business traction in line with rising economic activity.
Our FY22/23E estimates for our coverage remain relatively unchanged, despite the rapidly strengthening second wave of COVID-19 cases in India. This reflects our belief that our current estimates around credit growth and asset quality already factor in potential speed bumps on the path to recovery. Further, sustained fiscal and monetary polic
Muthoot Finance declares interim dividend of 200%
Posted On: 2021-04-13 20:46:31 (Time Zone: Arizona, USA)
Muthoot Finance Ltd, India`s largest gold loan company on April 12, 2021 declared an interim dividend of 200% ie., Rs.20 per share of Rs.10 face value for the financial year 2020-21.The dividend will be paid to the shareholders on or before May 11, 2021. This will involve a dividend payout of Rs.802crs. For previous financial year , Company had paid a dividend of 150% ie., Rs.15 per share. The Record Date for reckoning the shareholders who shall be entitled to receive the said dividend shall be April 23, 2021. Since financial year 2011-12 , Company has declared dividend every year and cumulative dividend declared amounts to Rs.4077crs including the Dividend Distribution Tax.
Happiest Minds and Beatroute Partner to Offer Revenue Realization Solutions for CPG Industry
Posted On: 2021-04-14 00:59:04 (Time Zone: Arizona, USA)
Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a Born Digital. Born Agile , digital transformation and IT solutions company and BeatRoute have entered into a strategic partnership to solve typical revenue realization problems faced presently by the CPG industry . The complex CPG eco-system is characterized by multiple channels and relationships including Modern Trade, General/Traditional Trade and other B2B channels that require a seamless, holistic solution to enable smart selling physically as well as digitally.
This partnership empowers CPG enterprises with a goal-oriented Digital Transformation journey, by leveraging new age technologies such as ML, Store Analytics, Sales Process Gamification, Bots and Social Channels to drive Sales Uplift and provide brands with a competitive advantage.
Sanofi India Ltd board to consider Q1CY2021 results on April 27, 2021
Posted On: 2021-04-14 00:58:06 (Time Zone: Arizona, USA)
A meeting of the Board of Directors of Sanofi India Ltd will be held on Tuesday, 27th April 2021, to consider the unaudited financial results for the quarter ended 31st March 2021 (Q1).
Shares of Sanofi India Ltd was last trading in BSE at Rs.8045 as compared to the previous close of Rs. 8097.85. The total number of shares traded during the day was 1100 in over 512 trades.
The stock hit an intraday high of Rs. 8177.95 and intraday low of 7995. The net turnover during the day was Rs. 8861442.
Acuité Ratings upgrades ratings of Mukand Ltd
Posted On: 2021-04-13 20:46:08 (Time Zone: Arizona, USA)
Acuité Ratings & Research Limited( ACUITE ) vide its letter dated 13th April, 2021, has intimated about revision / upgrade in the Ratings of various credit facilities / exposures of Mukand Ltd as below:
Total Fixed Deposits Rated - Rs. 120.48 Crore
Fixed Deposit Rating - ACUITE FA / Outlook: Stable (Upgraded from FBB/Negative)
Total Bank Facilities Rated - Rs. 1,045.48 Crore
Long Term Rating - ACUITE BBB-/ Outlook: Stable (Upgraded from ACUITE BB/Negative)
Short Term Rating - ACUITE A3 (Upgraded from ACUITE A4+)
The rating upgrade and revision in the outlook from Negative to Stable is driven by the company s significant progress in land parcel monetization and disinvestment in a joint venture company while utilizing the proceeds to repay the outstanding debt from lenders and group companies, thereby improving on the financial risk profile. The company has receiv