Union Minister of Commerce & Industry, Piyush Goyal said that India is all set to become a provider of telecom services and Indian companies will become providers of high security and quality technological equipment to emerging economies. During his address at the inauguration of World Telecommunication Standardization Assembly and 8th edition of India Mobile Congress today in New Delhi, the Minister expressed confidence that India in the future will lead international telecom supply chains and urged companies to find solutions to help take telecom to countries still behind in network connectivity. India has a role to play in making technology available in the Global South and in leading the world in fulfilling the Sustainable Development Goal (SDG) to make digital connectivity affordable across the globe. He added that seamless broadband connectivity across the country has earned India the moniker Trusted Partner of the World.
Godrej Properties emerges as top bidder for 6.5 acre land in MMR; shares up (16-10-2024)
The rise in Godrej Properties share price came after the company announced that it has emerged as the highest bidder to develop a group housing project at a premium location in Sector 5-A, Kharghar
PNC Infra spurts on bagging EPC projects from MSRDC worth Rs 4,630 cr (16-10-2024)
PNC Infratech jumped 4.38% to Rs 465.60 after the company received letters of acceptance from the Maharashtra State Road Development Corporation (MSRDC) for road projects on EPC mode aggregating to Rs 4,630 crore.
Fino payments Bank – Can the unique business model spring a surprise? (16-10-2024)
In the remittance and the hook business they have very strong competition from other fintech companies. In the casa business, there is a lot of traditional banks employing BC services and providing saving accounts at 0 fees. For instance, Fino provides BC services to Union bank. If you want to dig deeper from my experience Indian Bank has been trying hard to extend the BC services. So, the competition is already providing the services at discounted prices. Fino have been constantly increasing their reach with more merchants and it is convenience for the customers and clear subscription charges rather than hidden charges like minimum balance charges and folio charges,
Average deposits is up 37 % yoy and is at 1659 crores. Right now they have to deploy these funds in T- bills and bank deposits. Once they get the SFB license the can lend these funds to the public. Moneyboxx finance could be a pointer at spread.
Indicator of spreads from Moneyboxx Investor presntation
There are few excellent write ups on Moneyboxx in this forum, if you want to dig deeper there.
the cost of funds for Fino was 2.1 % a few quarters back, you can get an idea of NIM from that. As a payment bank they cant take a deposit of more than 2 lakhs, but that would change with SFB licence. They may have to offer a higher rate on fixed deposit but that may still be attractive on an overall revenue basis
KEI Industries shares drop 7% on reporting lower Q2 profit, Ebitda margins (16-10-2024)
Even as KEI Industries reported annual growth in its top- and bottomline in Q2, the wires and cable company’s profit and operating margins contracted
GAIL share price up 0.84 per cent (16-10-2024)
A total of 77,735 shares changed hands on the counter till 10:40AM (IST).
Hyundai India IPO subscribed 20% on Day 2 so far. GMP rises to 3%. Check details (16-10-2024)
Hyundai India’s Rs 27,870 crore IPO was subscribed 20% by the second day. Retail investors led with 29% subscription. The offer is an OFS with all proceeds going to Hyundai Motor Global. Analysts recommend subscribing for long-term gains citing Hyundai’s strong brand and growth prospects.
Rupee trades in narrow range against US dollar in early trade (16-10-2024)
At the interbank foreign exchange, the rupee opened at 84.03 against the greenback