Posts in category All News
Share price of ACC jumps as Sensex drops 208.16 points (21-06-2024)
A total of 9,591 shares changed hands on the counter till 12:12PM (IST)
JM Financial shares fall 5% on SEBI ban from managing debt public issues (21-06-2024)
Shares of JM Financial declined by 5% to Rs 83 during Friday's intraday trading on the BSE. This drop followed a decision by the markets regulator SEBI on Thursday, confirming interim measures to prohibit the company from serving as a lead manager for public issues of debt securities until March 31, 2025.
AAP MP slams govt after Delhi HC puts on hold trial court order on Kejriwal’s bail (21-06-2024)
AAP leader Sanjay Singh accused Prime Minister Narendra Modi of undermining the justice system after the Delhi High Court put a hold on a trial court order granting bail to Chief Minister Arvind Kejriwal. This bail was connected to a money laundering case involving an alleged excise scam.
Godrej Consumer rises 0.83% as Sensex slides (21-06-2024)
The stock traded at a P/E multiple of -248.53, while the price-to-book value ratio stood at 10.16.
RailTel, IRCTC among railway stocks rallying up to 9%. What’s the trigger? (21-06-2024)
Railway stocks like RailTel, IRFC, RVNL, Ircon International, and Titagarh Rail Systems surged up to 9% on BSE today amid positive news flow.
Persistent Systems shares jump 5% on Rs 10 dividend announcement (21-06-2024)
The surge in share price came on the back of a divided announcement, coupled with Accenture's Q3 performance, which met street expectations
Suryoday small finance bank (21-06-2024)
Investment thesis of Suyryodaya Small Finance bank:
Disclaimer: You can assume I am biased.
Founder is doing few things which I find it exceptional
- Unsecured loans [MFI] will be profit maximizing segment and secured loan business will provide stability and scalability to the business.
No other bank or NBFC has either taken a) CGFMU insurance cover or b) Creating Countercyclical provision of 5-6%
- By taking CGFMU cover its converting unsecured loans into Quasi secured loan and fixing the maximum loss at 3% of book [provided total NPA remains maximum at 15%].
- Counter cyclical provision : Bank is planning to create an additional contingent provision over and above regular provision. Bank wish to create 5% to 6% contingent provision by FY2026 by creating 1.5% contingency provision every year. [i**n addition to taking CGFMU cover, so in effect even in case of 20% credit cost event, bank will suffer only 3% credit cost in that year]**
- In case of Secured loans, majority of current book is focused on credit tested customers and accordingly yields are restricted to 12-13%. At the same time management has launched and testing various high yields products like Micro housing loans, Micro LAP, Small Business loans etc.
- Its not building extensive liability branches and not spending disproportionate amount in raising CASA. On the contrary in will rely on granular term deposits and other stable sources of finance. This will help it to keep the Opex low. Almost everyone is worried about whether Suryoday can build low cost CASA, but its immaterial. What is required is can they build granular book, even at 1-2% extract cost compared to top bank. Suryoday cannot match the low cost of funds of top private banks and PSU banks atleast for next 7-10Y. When business model is based on serving underserved and unserved customers and not prime customers like top private banks, then CASA is NOT MUST to have BUT ONLY GOOD TO HAVE. What is MUST IS Granular liabilities and NOT dependence on WHOLESALE LIABILITIES.
Link to full note: Notion – The all-in-one workspace for your notes, tasks, wikis, and databases.
AGS Transact rallies on appointing Vinayak Goyal as subsidiary’s MD (21-06-2024)
AGS Transact Technologies advanced 2.56% to Rs 88.77 after it announced the appointment of Vinayak R Goyal as the managing director (MD) of its wholly owned digital payment subsidiary, India Transact Services.