CRED
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.
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
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.
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.
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Around Rs 15,000 crore has been withdrawn by FIIs from India in the last four days amid election uncertainties, causing concern on Dalal Street about the impact of a weaker Modi 3.0 mandate on further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.
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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