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Muthoot Finance shares jump 4%; analysts see up to 34% upside after Q3 results SECTIONS Last Updated: Feb 10, 2021, 10:18 AM IST Share Synopsis The NBFC on Tuesday reported a 22 per cent jump in standalone profit after tax at Rs 991.4 crore for the December quarter compared with Rs 815.2 crore for the year-ago quarter. Agencies INSIGHTS NSE Explore Now NEW DELHI: Muthoot Finance shares climbed 4 per cent in Wednesday s trade as brokerages raised their price targets for the scrip following the company s better-than-expected financial results for the December quarter. The new targets suggest a potential upside of up to 34 per cent over Tuesday s price. With credit risk a structural non-issue and medium-term super-normal profitability, Edelweiss Securities said Muthoot Finance remains its top pick among NBFCs. It said that the company is on track for 25 per cent loan growth in FY21 and noted that the management has marked 15 per cent mediu ....
Sluggish loan growth, low other income, and delayed resolution of stressed assets maylead to a precarious financial position for public sector banks (PSBs) duringthe December quarter of FY21 (Q3FY21), caution analysts. We estimate weakness to continue in PSBs, barring State bank of India, impacted bysluggish loan growth, a higher proportion of MSME/SME loans, and delay in theresolution of stressed accounts, said analysts at Motilal Oswal FinancialServices (MOFSL) in a sector report. Those at Emkay Global, on the other hand, say that the Supreme Court s stay on NPA tagging remains an irritant in Q3, and may lead to optically elevated proforma slippages due to the spill-over from Q2FY21. That said, overall NPA formation, as well as restructuring proposals, are meaningfully lower than expected though one needs to be watchful of the tail-end risk, it added. ....
Will LIC IPO happen in FY22? Analysts expect lower divestment target in Budget SECTIONS Share Synopsis Analysts have projected the divestment target for FY21 at around Rs 40,000-70,000 crore against the ambitious goal of Rs 2.1 lakh crore target set for FY21. The divestments may see a possible upside risk if the LIC IPO is executed, say analysts. NEW DELHI: While Dalal Street is keenly awaiting LIC IPO and key strategic divestments next financial year, a few brokerages believe the divestment target for FY22 could be set at a lower level than FY21, as a few of the prospective IPOs may see procedural delays. ....
HDFC Bank Q3 Preview: Private lender HDFC Bank will flag-off the December quarter earnings for large banks when it announces its Q3FY21 results on Saturday, January 16. Amid improving economic activity, analysts expect the lender to report higher-than-industry average loan growth, implying continued market share gains. However, net profit could come under pressure due to higher slippages and lower fee income growth. Painting a grim picture, ICICI Securities forecasts a 17 per cent year-on-year (YoY) decline in the lender’s net profit at Rs 6,132.1 crore compared with Rs 7,416.5 crore net profit reported in the corresponding quarter of the previous fiscal (Q3FY20). Sequentially, the profit may contract 18 per cent from Rs 7,513.1 crore clocked in the September quarter of the current financial year (Q2FY21). ....
Information technology (IT) major Tata Consultancy Services (TCS) will kick off the December quarter earnings season for large-cap firms on Friday, January 8, when it will announce its quarterly numbers. The Tata Group company is likely to post a robust performance for the third quarter of the financial year 2021 (Q3FY21) on the back of strong demand in cloud adoption, tailwinds of large digital deals, project ramp-up and lower furloughs, believe analysts. The board will also consider the declaration of a third interim dividend to the equity shareholders. The IT firm s revenue in constant currency (CC) terms is expected to rise in the range of 2.4-4 per cent on quarter-on-quarter (QoQ) basis while it may grow between 3-4.5 per cent in dollar revenue. As for revenue growth in rupee terms, it is expected to be up between 3.4-5 per cent year-on-year (YoY) and 2.7-4.2 per cent quarter-on-quarter (QoQ). Besides, analysts expect TCS to post a 3-8 per cent year-on-year (YoY) g ....