PIRAMAL HOUSING FINANCE
NCLT approves Ashdan Properties' resolution plan for Sunblink Real Estate
The National Company Law Tribunal approved Ashdan Properties' resolution plan for Sunblink Real Estate, which involved significant creditor dues. Sunblink Real Estate's insolvency proceedings were initiated over a default related to financial obligations. The properties in question include sea-facing buildings in Mumbai's Worli area, acquired previously from entities linked to Iqbal Mirchi. The resolution plan allocates Rs 143 crore to the secured financial creditor Piramal Finance over several instalments.
NBFCs eye rate hikes, higher fees to offset insurance income hit
Non-bank lenders and housing finance companies are expected to raise lending rates in response to proposed regulatory changes. This adjustment aims to offset potential income losses from caps on insurance distribution. Companies such as Bajaj Housing Finance and Home First Finance are considering changing their product mix and increasing fees. The Insurance Regulatory and Development Authority of India has proposed stringent commission cuts on credit-linked insurance products.
Quant Small Cap Fund adds Jio Platforms and 4 others; increases stake in Adani Power, 5 more
Quant Small Cap Fund added Jio Platforms, Primo Chemicals and three other stocks to its portfolio in October. The fund also increased exposure to Adani Power and LIC Housing Finance, exited five stocks and trimmed holdings in three others.
Ahead of Market: 10 things that will decide stock market action on Friday
Indian markets staged a powerful rally, with Sensex jumping 2,009 points and Nifty gaining 576 points. Improved global sentiment, easing crude prices, US midterm election results, foreign investor buying and strong Q2 earnings lifted market capitalisation above Rs 500 lakh crore.
India's glittering gold loan sector risks sliding into a dark zone
The gold loan market in India is on a rapid growth trajectory, fueled by true demand alongside possible financial distress among borrowers. According to the Reserve Bank of India, there's significant annual growth in gold loans issued by banks and NBFCs. Heightened competition might bring challenges in assessing borrower viability and repayment options. While regulatory changes aim to create a stable environment, they could introduce operational hurdles for lenders.
These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of up 32%, according to analysts
History tells us that there is no way you can time the markets or predict its movement. But one thing can certainly be said: If the macro matrix, which at this point of time is being determined by oil prices globally, stays disturbed, the bears will rule the street for some more time.
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Stocks in news: Vedanta, HDFC Bank, ICICI Bank, Axis Bank, HFCL, IREDA, Zen Tech and Oil India
Indian equities turned around as information technology stocks attracted sustained buying interest. Strong quarterly earnings reports enhanced investor confidence in the market, with the Nifty 50 index achieving a closing point of 23,146, representing a 0.65% rise. Prominent companies like HDFC Bank and ICICI Bank shared their quarterly outcomes, showcasing improved asset quality. Investors are anticipated to keep an eye on upcoming corporate announcements which may guide market trends.
Ahead of Market: 10 things that will decide stock market action on Thursday
Sensex and Nifty ended lower on Wednesday as investors booked profits after the previous session’s rally, with caution ahead of US inflation data weighing on sentiment. Market participants will track global cues, crude oil prices, foreign investor flows and stock-specific developments on Thursday, alongside buying and selling trends across key counters.
Banks vs NBFCs: Which stocks could benefit as RBI eyes rate hike for first time in 3 years?
The RBI’s expected first rate hike in three years could have a mixed impact on banks and NBFCs. While higher funding costs may pressure NBFC margins, lenders with floating-rate assets and strong liquidity could benefit. Brokerages favour HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance and Tata Capital.
Can IRDAI’s insurance reforms impact NBFCs? Jefferies warns L&T Finance, Piramal Finance, others are most exposed
IRDAI’s proposed insurance distribution reforms could extend beyond insurers and distributors, potentially pressuring NBFC fee income. Jefferies flagged L&T Finance, Piramal Finance and others as exposed to insurance commissions, with proposed cuts potentially affecting profitability.
Which NBFCs will gain the most from rate hike cycle? JM Financial lists top picks
JM Financial highlights how soaring bond yields and policy rate hikes impact Indian NBFCs. While housing finance companies like LIC Housing Finance and PNB Housing Finance stand to benefit on NIMs, vehicle and MFI lenders face headwinds. Top stock picks include Aditya Birla Capital, Piramal Finance, and CreditAccess Grameen.
MFs turn selective, pick Coal India, LIC among large-caps in August
Amid the backdrop of increasing US interest rates in August, fund managers proceeded with caution, prioritizing large-cap stocks that offered favorable valuations coupled with safety margins. Their approach in mid and small-cap investments was selective, choosing firms like LIC, Coal India, and notable pharmaceutical entities. There was also a surge in funding for NBFCs and research organizations in this period.
JioBlackRock Flexi Cap Fund exits NALCO, Hindustan Zinc; trims exposure in BSE, RIL
JioBlackRock Flexi Cap Fund reshuffled its portfolio in August, exiting 21 stocks while reducing exposure to 34 others, including NALCO, Hindustan Zinc and RIL. It increased holdings in 17 stocks and added 22 new names. The fund’s portfolio grew to 136 stocks, with banks accounting for its largest sector allocation.
RBI recognises Unified Fintech Forum as second self-regulatory body for fintech
The RBI had recognised the Fintech Association for Consumer Empowerment (FACE) as the first SRO-FT in August 2024, after it laid down the framework for recognising SROs in May.
RBI easing drives Indian companies’ $7.70 billion overseas borrowing
Indian companies filed proposals worth $7.70 billion for external commercial borrowings in July. This marked a significant 27% growth over the previous month's figures. The Reserve Bank of India eased its external commercial borrowing framework earlier this year. This move increased the borrowing cap and removed restrictive cost ceilings for companies. Major firms like Interglobe Aviation and Housing & Urban Development Corporation sought substantial funds.
Piramal Capital prices first overseas bond issue at 7.95%; eyes $300 million fundraise
Piramal plans to use proceeds from a new bond issue to fuel its rapidly growing retail business, which has seen a 50% annual expansion in the past two years. While primarily relying on domestic borrowing, Piramal is strategically adding foreign debt to diversify its funding mix, currently composed of NCDs, bonds, loans, and pass-through certificates.
Piramal Finance clocks Rs 50,000 crore retail book, aims to double AUM in 4 years
Piramal Capital & Housing Finance announced that it has exceeded Rs 50,000 crore in retail assets under management. The company has set a target to double its retail loan book by the financial year 2028. The non-bank lender aims for retail lending to comprise 75% of its loan book. As of March 31, 2024, the total assets under management (AUM) amounted to Rs 68,845 crore, with the retail segment constituting 70%. Looking ahead, the company plans to expand its assets under management to Rs 1.5 lakh crore by FY28.
Piramal Capital set to add gold, micro business loans to portfolio next fiscal
Sridharan said unsecured microfinance loans and low-ticket loans against property will be also introduced mostly in the first half of the next fiscal.
India's shadow lender Piramal sees no slowdown in credit growth
PIRAMAL-India's shadow lender Piramal sees no slowdown in credit growth.
DHFL resolution: NCLAT issues notices to lenders, Piramal on 63 Moons Tech's plea
The appellate tribunal has directed all parties to file their replies before July 19, which is the next date of hearing.
Piramal Housing to extend loans to low-income groups across the country
Piramal has launched used car financing in partnership with Cars24, it has also tied up with Zest for unsecured digital lending, it is also offering small business loans, loans against property besides home loans as part of its retail push.
There is enough liquidity in system for right borrowers: Ajay Piramal
Strong track record of our company has meant that many people were willing to lend, says Piramal
Piramal Q4 net up 21% at Rs 375 crore
The company had reported a net profit of Rs 311 crore during the same period of the previous fiscal.
Piramal Housing Finance enters Pune, to add 4-5 cities in 6 months
Piramal Housing Finance has already expanded its housing finance business in markets like the Mumbai Metropolitan Region (MMR), Noida, Gurugram, Delhi and Bengaluru.
Piramal Housing Finance launches home loan offering in NCR region
The company has put in place a team of 100 people for the northern India roll-out of its housing finance arm which will pit it against established players such as HDFC, LIC and PNB Housing Finance.
Piramal Capital upbeat on Hyderabad realty, to invest Rs 5,000 crore in 2 years
This investment would be over and above Rs 2,000 crore which the company has already invested in the Hyderabad market over the past two years.
Piramal Finance enters into housing finance segment
The housing finance company will offer home loans as well as loans against property and construction finance for small developers.
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