The problem is that the continuous issues that Asirvad faces reflect the management quality and competency.
Leaving the ED issues aside, while Muthoot Microfin has been able to list without a hitch, Asirvad has been in the SEBI approval loop for years. Either they don’t meet some listing criterion or the valuations are not conducive to the IPO at the time, is my guess.
Now the RBI’s actions again reflect the inability to work under the purview of the regulator. Which can be potentially problematic for the gold business as well.
Yes it is difficult to change one’s image in the market. Even SFBs will face the same problem when they become majority diversified and secured lender, the market may still see them as risky microlenders for years.
Manappuram Finance (23-10-2024)
Nifty tad above 24,500; IT shares in demand (23-10-2024)
At 10:30 IST, the barometer index, the S&P BSE Sensex, added 78.25 points or 0.10% to 80,298.97. The Nifty 50 index added 30.30 points or 0.12% to 24,502.40.
Markets open mixed as FII selling, global cues weigh on sentiment (23-10-2024)
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ITC Q2 preview: Cigarette, hotel, FMCG biz to aid profit; margins may slip (23-10-2024)
Analysts will monitor the demand outlook on rural as compared to urban, competitive intensity, raw material trends, hotels & agri business outlook
Buy Zomato, target price Rs 330: Motilal Oswal Financial Services (23-10-2024)
Motilal Oswal recommends buying Zomato shares, targeting a price of Rs 330. Zomato, a smallcap company in the Services sector, recently reported a quarterly income increase. The company’s net profit for the recent quarter is Rs 176 crore. Significant growth in its food delivery business and potential in industries through Blinkit are key reasons for the recommendation.
Diwali Picks: Bharti Hexacom, Lodha among 12 stock ideas from SBI Securities (23-10-2024)
SBI Securities has identified 12 stocks across various sectors like Consumption, Auto, BFSI, Real Estate, and Telecom for Diwali 2023. Each stock is backed by detailed growth expectations and strategic plans for the upcoming Samvat 2081, highlighting potential returns and developmental initiatives.