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Brokerage View: Chemical stocks ripe for fresh up-cycle
“These stocks have either reversed from a long-term support or made a multiyear breakout retest which make them quite safe as compared to the stocks which are witnessing a breakout which can fail if the markets correct,” said InCred’s VP, Gaurav Bissa, in a client note.
Oyo gets shareholder nod to raise Rs 417 crore via preference shares
Moody’s projects Oyo's EBITDA to reach $125 million in FY 2024-2025, inclusive of ESOP expenses. This outlook underscores the company's commitment to cost control and expected business expansion.
Oyo's funding to finance global expansion, acquisitions: filings
ET reported on June 20 that Oyo has received shareholder approval for raising Rs 416.85 crore through preference shares in an extraordinary general meeting (EGM) held on June 18. The shareholders also gave their nod to increasing Oyo's authorized share capital from Rs 901.14 crore to Rs 1,341.14 crore.
Pause on the cards: Fintechs may take a hit as most banks stay away from BBPS
RBI mandates credit card bill payments through BBPS, but only 8 of 34 banks are live on the network, causing concern among payment companies like PCI for an extension.
Buy DCB Bank, target price Rs 175: Motilal Oswal
DCB Bank Ltd., incorporated in the year 1995, is a banking company (having a market cap of Rs 4301.69 Crore).
Consolidation phase to continue for banks; SBI, HDFC remain preferred picks: InCred Equities
The domestic brokerage firm also stated that the bank managements are already adopting various means including driving staff KRAs and incentivizing employees towards higher deposit augmentation and the recent branch expansion of most banks in semi-urban/rural areas will drive the CASA deposits momentum
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InCred Equities downgrades Adani Ports to reduce, sees downside potential of 8%
InCred Equities downgraded APSEZ shares to 'reduce' from 'hold' with a target price of Rs 1,329 amid steep valuation of the stock.
The ‘buy now, pay later’ option is like a disease: Satish Mehta, Athena CredXpert
"A credit card is the most expensive piece of plastic in the world. You are charged 40% interest if you don’t pay on time. You would think it’s fine to pay 5% minimum due balance, but they still charge an interest on the outstanding amount. One should avoid treating credit cards like money in pocket," says Satish Mehta, Founder, Athena CredXpert.
Top startup & tech stories this week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed them.
Armed with World Bank and Stanford cred, Nara Lokesh poised for key role in Andhra's development
In the earlier TDP government between 2014 and 2019, Lokesh served as minister for Information Technology, and he has been inducted again as a minister into the new NDA govt in the state. Lokesh, who has an MBA degree from Stanford, also worked briefly in the World Bank's e-governance initiative before plunging into Andhra Pradesh politics.
Why Kunal Shah’s Cred is betting on secured loan products
Kunal Shah-promoted fintech has conducted market study and spoken with lending partners, but it is still early days, say sources. Unlike consumer credit, secured lending has a long physical leg to the business too. An NBFC executive highlighted the importance of control over loan disbursal and credit underwriting processes for secured products.
Cred’s secured loan play; Rubrik interview
Happy Tuesday! Kunal Shah-led fintech startup Cred is prepping for an entry into the secured credit space. Details of this and more in today’s ETtech Morning Dispatch.
Tech-based NBFCs try a balancing act after RBI action on unsecured loans
NBFCs like DMI Finance, Vivriti Capital and InCred Capital expanded unsecured retail and small business lending, leveraging strong fintech partnerships over to grow their business coming out of Covid. Some of these companies took the acquisition route to scale up this business quickly.
Rs 15,000 crore gone! Check out 3 reasons why a weaker Modi 3.0 still won't scare FIIs
Around Rs 15,000 crore has been withdrawn by FIIs from India in the last four days amid election uncertainties, causing concern on Dalal Street about the impact of a weaker Modi 3.0 mandate on further outflows.
If not equity, corp FDs offer 1-1.5% over debt MFs and banks
Corporate deposits with higher credit ratings are recommended for investors looking to reduce exposure to equities. Top finance companies like Bajaj Finance and Shriram Finance offer higher returns than bank deposits and debt mutual funds, providing a safer investment option, according to wealth advisors.
Paytm reports almost flat growth in UPI payments in May
After RBI restricted Paytm Payments Bank, the UPI transactions on the Paytm app fell. This is the first month the fall has been arrested since February. In terms of the share of UPI payments by volume, Paytm stood at around 8.1% in May — almost at the same level as the previous month.
ETMarkets Smart Talk: There will be political stability; healthcare could turn out to be the dark horse in FY25: Aditya Khemka
Global investors haven't got much choice but to remain invested in India and perhaps increase allocations despite the political uncertainty.
Rs 31,09,459 crore m-cap loss! Correction the start of a stock picker’s market
Lower-than-expected BJP seats erase Nifty gains. Nifty falls by 5.93%, still trades expensively. India and Japan rally on economic growth and reforms. Overseas investors sell Indian shares, moving to cheaper markets like China.
UPI transactions set new record, scale 14 billion peak in May
The Unified Payments Interface (UPI) network, operated by the National Payments Corporation of India (NPCI), has achieved a significant milestone by processing a record 14.04 billion transactions in May, surpassing the 13.3 billion transactions recorded in April. In terms of value, UPI facilitated transactions amounting to ₹20.45 lakh crore in May, compared to ₹19.64 lakh crore in April, as per the data released by NPCI on Saturday.
UPI transactions scale 14 billion peak in May
The record high transactions come after a month-on-month dip in volumes in April to 13.3 billion, with the network dropping 1% from 13.44 billion in March. In May, the average daily transaction value was Rs 65,966 crore with average daily volumes at 453 million. UPI is the fastest growing digital payments channel in the country.
InCred Capital appoints Julius Baer India’s Vikram Agarwal as chief operating officer
InCred Capital appointed Vikram Agarwal as its COO, who brings extensive experience from Julius Baer India to lead various functions at the Mumbai-based company.
Divi’s Laboratories shares rally 5% post Q4 results. Should you buy, sell or hold?
Divi’s Laboratories saw a 5% surge in its shares on the BSE during Monday's trading session, reaching a new 52-week high of Rs 4,335. This rise came as brokerages such as Motilal Oswal and InCred expressed bullish sentiment towards the stock, following the company's impressive performance in Q4, where it reported a 68% year-on-year increase in profits, reaching Rs 538 crore.
Hot Stocks: Brokerage view on Exide, Divi’s Laboratories, Ashok Leyland & Sun TV
Top brokerages have issued bullish recommendations for select stocks. CLSA has maintained an outperform rating on Sun TV, raising the target to Rs 720. InCred has upgraded Divi’s Laboratories to Add. Meanwhile, JPMorgan maintains an overweight rating on Exide Industries, with a target price of Rs 520.
ETMarkets AIF Talk: Fund Manager of Rs 1200 cr AUM reveals 4 key factors for wealth creation in small & midcaps
Aditya Sood, Fund Manager at InCred Asset Management, discusses small companies' growth potential in an interview with ETMarkets. Sood says that the cost of capital in India will structurally decline over the next 5-7 years, benefiting small and mid-cap companies. Many of the investee companies, though small in size, are already market leaders or challengers in niche industries with substantial growth potential
Lesson for entrepreneurs: What are the common mistakes startup founders make and how to avoid them?
India has the third largest startup ecosystem in the world, with 1.17 lakh entities (DPIIT), nearly 1,710 venture capital funds, 794 accelerators and incubators (Tracxn), and several government initiatives like Startup India. Despite this fervour and support, financial and otherwise, the startup journey is extremely difficult.ET Wealth lists the typical mistakes most founders make and tell you how to tackle these
Roadblocks for q-commerce; Mizuho InCred deal
Happy Friday! As quick commerce platforms diversify, they are likely to face operational challenges. More on this in today’s ETtech Morning Dispatch.
Mizuho is in talks to buy KKR’s part stake in fintech company InCred
According to latest discussions, global investment firm KKR may sell around 10% stake in Mumbai-based tech-driven NBFC InCred but this may change depending on how the talks progress, sources told ET.
Cred receives in-principle approval from RBI for payment aggregator business
Fintech firm Cred, supported by Peak XV, secures RBI's approval for PA business. Post final nod, it'll expand merchant payments, focusing on credit card bills. Cred collaborates with payment companies, plans QR payments and offline business, aiming for comprehensive user transactions.
Cred's head of risk Kunal Kashyap quits, set to join Slice
Kunal Kashyap moves from Cred to Slice, which merges with North East Small Finance Bank. Pending approvals from Competition Commission of India. Slice reports Rs 846 crore operating revenue, Rs 405 crore net loss.
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