CREDIT INVESTORS
Zomato gets shareholder approval for Esop plan, gives up pursuit of NBFC licence
Food delivery company Zomato had proposed an Esop pool of 183 million shares. The new plan would mean a 2% stake dilution for existing shareholders, founder and CEO Deepinder Goyal had told shareholders in May, adding that the new pool would be sufficient for the next five years.
Comeback Trail: After IT, time for large private banks to make a comeback? 6 top private banks with an upside potential of upto 40%
Today, because one private sector bank and some of the PSU banks are under pressure, the bank nifty is trading in the red. Because the bank in question, Kotak Mahindra bank has come under pressure due to one specific development which tends to be eye-catching, the whole narrative shifts to something which is not related to the core business of banking. If one leaves aside what is happening in the banks today and looks at a slightly broader picture, probably there are underlying indications of something else. A probability of a tactical investment opportunity building in the private sector banks taking place. Look at the leaders from that space, HDFC bank which has been at the forefront of getting all negative news is pretty much close to its earlier highs.
Euro rises to two-week high after France's far-right wins first-round vote
Amid market volatility, potential alliances to block the far-right have emerged in France's election. The RN party eyes a possible absolute majority, adding to ongoing uncertainty and investor concerns.
Fintechs' secure credit play; New Jersey turns IT hub
Happy Monday! Fintech companies like Cred, PhonePe and Paytm are seeking partnerships with NBFCs to enter the secured credit market. This and more in today’s ETtech Morning Dispatch.
Economic cracks are getting exposed in the 2024 market bounty
Dispiriting trends that have been visible for months now alongside the frenzy for megacap tech stocks and private credit – are on display yet again. Companies with dicey balance sheets have underperformed anew in June. Equal-weighted stock benchmarks where disruptive AI market leaders have the same weighting as industrial bellwethers have lagged yet again.
Coal India, South Indian Bank among 17 deep value stock ideas from ICICI Securities
Domestic brokerage firm ICICI Securities has listed 17 stock ideas, categorizing them as deep value stocks, stating that the proportion of ‘investable value stocks within large-caps remained steady while the same has been diminishing to historical lows within mid and small-caps.
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Best gilt mutual funds to invest in June 2024
Gilt funds are not recommended to regular debt investors because they are risky and volatile. Gilt funds suffer the most when the rates go up. The bond prices and yields move in opposite directions. When the rates go up, bond prices come down. This drags down the NAVs of schemes.
RBI cautions against surge in private credit between corporates and non-banks
The Reserve Bank of India (RBI) warns of systemic risks from the rapid growth of private credit, which has quadrupled in the past decade, especially due to its opacity and interconnectedness with banks and non-banks. The RBI highlights potential vulnerabilities in this segment, including the risk of sharp losses during a credit cycle downturn and challenges posed by complex structures and liquidity risks.
Best corporate bond mutual funds to invest in June 2024
There are no changes in the recommendation list this month. If you are investing in these schemes, you can relax and continue with your investments. Follow our monthly updates regularly.
Best banking & PSU mutual funds to invest in June 2024
Mutual fund advisors say banking & PSU debt schemes are ‘relatively’ safe because these schemes invest only in bonds and papers of banks and public sector companies. Since most of these entities are government-backed, they don’t have the credit risk.
Up to 84,000% returns! 15 multibaggers that turned Rs 1 lakh into at least Rs 50 lakh in 3 years
15 companies show over 5,000% growth, turning Rs 1 lakh into Rs 50 lakh in 3 years. Diamond Power Infrastructure and Dhruva Capital Services lead with up to 84,000% returns. Expert advice urges caution and sector-specific focus for investors eyeing multibagger stocks.
Muthoot Microfin to stay on the radar with a few tailwinds
A part of Muthoot Pappachan Group, the company provides micro loans to women with a focus on rural areas. It had 1,508 branches in 353 districts across 18 states of India as of March 2024. Its AUM grew by 32.4% year-on-year to ₹12,193.5 crore in FY24.
Hinduja rejigs fundraise plan for Reliance Capital deal
Hinduja Group, the winning bidder for Reliance Capital, is reworking its fundraising plan to raise ₹7,500 crore from domestic and overseas private credit funds at 15%. The Reserve Bank of India seized control of Anil Ambani-owned Reliance Capital due to governance concerns. Nageswara Rao Y was appointed as the administrator.
Credit card bill payment hurdles; startup funding logs slight uptick
Happy Friday! The central bank has mandated credit card bill payments through Bharat Bill Payment System (BBPS), but only eight of 34 banks are live on the network, causing concern among payment companies. This and more in today’s ETtech Morning Dispatch.
Credit funds, family offices fill void left by banks at AIFs
The central bank came out with a circular in December 2023, requiring mainstream banks and NBFCs to divest their investments in AIFs that have funded any company that has borrowed from the bank or NBFC. The regulator had also raised provisions for banks or NBFCs investing in AIFs that subsequently lend to their borrowing companies.
High yield credit investing due for exponential growth in India
High Yield Credit funds, also called 'Performing Credit' funds, primarily invest in bonds issued by SMEs or structured corporate issuances. These bonds are typically bilateral agreements between issuers and investors, characterized by low liquidity, which translates into higher yields for investors.
Japan's Credit Saison tastes success in India, to expand loan book
Credit Saison India, under the leadership of Presha Paragash, is leveraging India's unique data infrastructure to expand its loan offerings. With a focus on partnerships, new products like loan against property, and expansion into tier III and IV cities, the company is poised for further growth and success in the Indian market.
Neo Asset raises Rs 2,575 cr for Credit Opportunities Fund
Neo Asset Management has closed its first Special Credit Opportunities Fund, raising ₹2,575 crore from high-net-worth individuals and family offices. The fund targets a gross internal rate of return (IRR) of 22-24% by investing in non-triple-A-rated companies with operating profits.
Healthy credit-deposit ratio needed
State Bank of India and other public sector lenders are urging the government to allow incentives to boost deposits, addressing a slump in credit flows.
India emerges a top five destination for realty FDI
India ranked among the top five global destinations for cross-border capital in land and development site investments in the March quarter, with foreign investors accounting for about 55% of the inflows, according to real estate services firm Colliers. Significantly, 73% of new foreign investments targeted ready assets, as reported in Colliers' latest Asia Pacific Global Capital Flows report.
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.
European shares slip as energy counters weigh
European shares slipped on Tuesday as weakness in crude prices dragged energy stocks, while investors refrained from placing huge bets before the European Central Bank's interest rate decision later this week.
InsuranceDekho in talks to acquire credit marketplace BankSathi: sources
Insurance marketplace InsuranceDekho, backed by investors like TVS Capital and Goldman Sachs Asset Management, will acquire a majority stake in BankSathi, which is a distributor of credit cards and personal loans, two people in the know said.
Should you invest in tax-free bonds?
In order to take a decision to invest in tax-free bonds, Gaurav must weigh its features against other investments. As an investment providing tax-free income, these bonds may fare well when compared to bank fixed deposits and debt mutual funds.
Will this bank continue to offer 9.2% interest on fixed deposit post-merger? Know what changes for FD investors
Interest rates on small finance bank FDs had gone up and small finance banks (SFBs) were offering 9% to 9.5%. Earlier, Fincare Small Finance Bank used to offer 9.21% to senior citizens on FDs maturing in 750 days. Now Fincare SFB merged with AU Small Finance Bank, effective from April 1. Now, customers should be aware of what will happen to the FDs they had opened in Fincare SFB before the merger? Will they be eligible for the deposit insurance protection of up to Rs 5 lakh, including principal and interest? Will the IFSC codes change after the merger?
Trading app Robinhood unveils maiden stock buyback plan of $1 billion
Robinhood Markets launched its first-ever share buyback plan to repurchase $1 billion worth of stocks, signaling maturity and growth beyond its startup phase.
Big Funds bet the ‘anything but bonds’ trade is poised to end
US bond investors increase positions in long-dated high-grade corporate bonds, expecting gains from future interest rate cuts. Market attention is on upcoming bond sales and key economic data releases globally. The “anything but bonds trade” may now have run its course and long-duration debt is set for a comeback in the second half.
Mcap of BSE-listed cos at record peak of Rs 404 lk cr
The market capitalisation of BSE-listed companies jumped to a lifetime peak of Rs 404.18 lakh crore on Thursday helped by a five-day rally in benchmark indices, making investors richer by Rs 11.29 lakh crore.
FPIs infuse over Rs 13,300 crore in equities in April so far amidst bullish economic outlook
Foreign investors have infused over Rs 13,300 crore in Indian equities in the first two weeks of the month owing to a resilient domestic economy with promising growth prospects.
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