Indostar has finally submitted it’s quarter and year ended March 31, 2022 results. (It’s pertinent to remind here that currently the Company has been going through a self initiated independent review wrt to the credit process/ operational lapses.) As is typical in such scenarios, everyone wants to play safe and auditor of the Company (Deloitte … Read more
Non-banking financial companies (NBFCs) are seeing a rise in demand for used vehicle financing amid Covid. The pandemicdriven preference for owning second and third cars in households, upgrades by two-wheeler owners to preowned cars and lower cost of used vehicles are some primary reasons for the spike in demand for used vehicles. NBFCs offering loans … Read more
L&T Finance Holdings (LTFH) as part of the restructuring and consolidation has decided to move out of the wholesale business and focus exclusively on the retail lending. Key points to note – Retail lending for the Company consists of farm equipment, 2 wheelers, consumer loans, micro loans and home loans/ LAP. Wholesale lending comprises of … Read more
India Ratings and Research on Friday maintained a neutral sector outlook and a stable rating outlook for non-banking finance companies (NBFCs) in FY23. It believes that FY23, in absence of any negative event, would see normalization of business activities, after facing challenges in the past few years following the default by Infrastructure Leasing and Financial … Read more
Zomato continues to make more investments into start-ups/ emerging companies. 1. Rs 112.2 crore for 19.48% into Adonmo Private Limited Founded in 2016, Adonmo is focused on outdoor digital advertising. The Company reported a revenue of Rs 3.3 crore in FY 21. Investment by Zomato is cash consideration and values Adonmo at Rs 576 crore. … Read more
To further strengthen the supervision on non-banking entities (NBFCs), the Reserve Bank on Tuesday issued revised guidelines on a Prompt Corrective Action (PCA) framework for such companies, excluding government-owned ones, effective from October 1, 2022, on the lines of what it had introduced for banks in 2002. The RBI came up with stricter supervisory norms … Read more
Shriram Capital has hired Ajay Thomas John as Group Chief Digital Officer to lead the digital transformation at the company. He has been hired from Bajaj Finserv where his last designation was Head – Digital Strategy, Transformation and Fintech. Key points to note – Shriram Capital (SC) is the holding company of Shriram Group comprising … Read more
Shriram City Union Finance (SCUF) stock has been a significant under performer since the beginning of 2015. Stock is currently trading at about Rs 2,300 compared with Rs 2,042 in January 2015 and the all time high of Rs 2,396 in October 2016. This is an NBFC that is significantly exposed towards the auto sector … Read more
Counting this, Shriram City Union Finance (SCUF) so far in FY 2022 has infused a total of Rs 500 crore and since launch Rs 1,088 crore equity into Shriram Housing Finance (SHF). Key points to note – SCUF now holds 85.02% stake of SHF. Equity infusion is to fund growth. In June 2021 conference call, … Read more