During the five trading sessions ending June 13, the Sensex dropped 1.30% or 1,070 points, settling at 81,119. The index closed lower on three of those five days. However, amid the broader market weakness, 11 BSE 500 stocks recorded gains in all five sessions. (Data Source: ACE Equity) Source link
Gold loan stocks rallied between 2-7% after RBI hiked the Loan-to-Value (LTV) ratio limit for gold loans below Rs 2.5 lakh, which will be revised to 85% from 75% as part of the latest norms. Shares of Muthoot Finance, Manappuram Finance, and IIFL Finance rallied upto 7%, 5%, and 5% respectively. Muthoot Finance is currently … Read more
ET Intelligence Group: A recommendation by the department of financial services (DFS) on Friday to exempt gold loans with ticket size below ₹2 lakh from the RBI’s proposed guidelines will significantly reduce regulatory pressure on gold loan companies. The exemption, if approved, is expected to shield nearly 80% of the customers of gold loan companies … Read more
The Manappuram Finance group, in which Bain Capital is set to buy a 42% stake, has suffered a Rs 203 crore consolidated loss for the fourth quarter on account of its subsidiary Asirvad Micro Finance, which is reeling under severe asset quality stress. The Manappuram group earned a Rs 564 crore net profit in the … Read more
Mumbai: Retail investors were generally less gung-ho about equities in the March quarter in the wake of the market weakness in the period. But that did not stop them from lapping up some of the beaten-down names that were among the top performers for most of 2024, according to a study of retail shareholding of … Read more
“I think that way there is a slight set of headwinds. But I feel given the criteria that RBI seems to be talking about from MFIs and from NBFCs that are lending to retail whether cutting down on usurious loans being made through say digital channels or something like that, there is a potential that … Read more
Shares of Manappuram Finance rose 5.4% to a 52-week high of Rs 207.30 in Tuesday’s trade after subsidiary Asirvad Micro Finance got a nod from Sebi to raise funds through an IPO. Asirvad Micro Finance had filed IPO papers in October last year. The issue will be made through the book-building process, wherein more than … Read more
The stock market has historically performed well during the festive season. Typically, increased consumer spending during the Diwali season tends to boost company revenues and profits, which results in higher stock prices. The positive sentiment and overall favorable optimism around the festivities drive investor confidence in the market. This often leads to increased buying and … Read more
Stocks from capital-intensive sectors, cyclicals and value stocks are expected to do well as long as the investment, commodity and credit cycle continue to remain robust, an ICICI Securities report said. The brokerage has identified over a dozen stocks with ‘Buy’ ratings which it referred to as ‘value stocks’ while cautioning against value traps. The … Read more
Global brokerage Jefferies maintained an underperform rating on HPCL while CLSA retained its buy rating on Manappuram Finance. Credit Suisse has an underperform rating on Dr Lal Pathlabs, and Morgan Stanley upgraded Lupin to overweight post March quarter results. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: … Read more