In an interview with ET, Piramal Enterprises (PEL) Chairman, Ajay Piramal projected the following. To double loan book by FY28 to about 1.2-1.3 lakh crore i.e., a CAGR of about 15% The growth will come significantly in retail through secured as well as unsecured lending. Like many other NBFCs, PEL is also banking on technology … Read more
Tinplate, a Tata Steel subsidiary has started work on a significant capacity expansion. At it’s existing Jamshedpur plant, it has kicked off a Rs 2,000 crore expansion project. It would add 3,00,000 tonnes to it’s current capacity of 4,15,000 tonnes i.e., an increase of >70%. The project is estimated to take 3 years to complete … Read more
Mahindra Holidays and Resorts has shared the following – The company had 2.8 lakh members as of December 2022. It will add 2,100 more rooms in the next five to six years with an investment of around Rs 1,800 cr At present, the company has 4,900 keys inventory across 119 properties; 60 per cent of … Read more
ITC‘s Chairman and MD, Sanjiv Puri has shared the following – Indian FMCG industry will bounce back by volume sales growth from FY24, led by rural demand, with early signs of recovery already visible. concerns around monsoons this year can be a dampener (he didn’t mention it) ITC will accelerate investments across businesses back to … Read more
Shriram Housing Finance (SHF), the housing finance subsidiary of Shriram Finance (SFL) is in the process of raising $100 mn growth capital. It targets to conclude the fund raise by end June 2023 Market is speculating Baring to be close to finalise a deal. MD has informed that multiple people are in the fray. SHF … Read more
Maruti has set two targets for itself – Become No. 1 in SUV by FY 24 Which would help it regain it’s 50% market share (as was the case earlier) Over the years, Maruti has lost some ground to the competitors. It was controlling almost half (50%) of the Indian passenger vehicles (cars) sales for … Read more
Poonawalla Fincorp (PFL) is selling 100% of it’s housing subsidiary Poonawalla Housing Finance Limited (PHFL) to TPG. Consideration is Rs 3,900 cr PHFL reported financials for FY 22 Revenues of Rs 470 cr Net Worth at Rs 1082 crore Above implies a valuation of 8.3x on trailing revenues and 3.6x on Net Worth. (This is … Read more
Paytm has announced buyback totalling maximum of Rs 850 crore @ maximum price of Rs 810/ share. Buyback price is at 57% premium to the closing price on December 13, 2022 (before the announcement); It will be an open market buyback; Will be executed over a maximum period of 6 months; Company’s directors and Key … Read more
At this stage, it’s only a MOU that has been announced by Amara Raja with the State of Telangana. What finally comes out of it remains to be seen. (It’s important to keep a track of these announcements as it helps in understanding management’s promises vs delivery over period) Key announcements – Proposed facility will … Read more