OMCs are an avoid for investors as margin variations are too high due to crude price volatility. Refining margin are difficult to predict and that in turn will hit PAT significantly, says Yogesh Mehta, Founder, Yield Maximiser. Excerpts from an interview with ETNOW. On preferred picks among HFCsWe have seen some positivity in housing financing companies (HFCs) in terms of residential properties getting sold in in most parts of India barring one or two states. Can Fin Homes has delivered the numbers and the loan book has grown in private sector banks. The numbers are showing 10-12% growth in the third quarter of this financial year in the home finance business. Among HFCs, LIC Housing is a much better placed company in terms of pan India presence. The preferred lowest loan rates and 60-65% of the book consists of loans to white collar jobs. The default risk is less for them. However, this being a government company, the valuations are not what private housing finance companies are … [Read more...] about Worried over stressed assets in Axis Bank balance sheet: Yogesh Mehta
Rbl bank when established
Manas Jaiswal of manasjaiswal.com has a sell call on Axis Bank Ltd. with a target price of Rs 695.0 . The current price of Axis Bank Ltd. is Rs 722.25 . Manas Jaiswal recommended to keep a stoploss at Rs 731 . Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 202387.77 Crore). Axis Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 41322.02 Crore to Sales Value (75.15 % of Total Sales), Income From Investment which contributed Rs 11349.07 Crore to Sales Value (20.64 % of Total Sales) and Interest which contributed Rs 1621.33 Crore to Sales Value (2.94 % of Total Sales)for the year ending 31-Mar-2019. The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs .00 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs .00 Crore (.00% of total assets). For the quarter ended 30-09-2019, the company has reported a Consolidated Interest … [Read more...] about Sell Axis Bank, price target Rs 695: Manas Jaiswal
Shyam Srinivasan, MD & CEO, Federal Bank, says the bank should see good momentum going ahead, as they have taken some conservative decisions over the last 12-18 quarters, and that should help them ride through a relatively bad cycle. Can you just give a brief overview of the third quarter? Will you describe it as a strong or weak performance? What have been some of the key parameters in Q3? The quarter that went by was good, given it was a stressful environment, and our outcomes have been quite encouraging. In particular, other than the two names that we signalled, we were keen that the overall portfolio continues to perform well and the slippages are lower. I am very happy that retail, SME, agri turned out their multi-quarter best. Given the external situation, our performance for Q3 on most counts was something that we take heart from. There has been a slowdown as well in loan growth in the quarter. What are the factors that have led to this? And how much of a role did … [Read more...] about Next round of fundraising likely at end of 2020: Shyam Srinivasan, MD & CEO, Federal Bank
HONG KONG (Reuters) - Bank of America Corp (BAC.N) will recruit about 50 bankers for its investment banking team in Asia this year, as it pushes to bolster its dealmaking business and shore up revenues from the unit, three people with direct knowledge of the matter said. … [Read more...] about Exclusive: Bank of America to hire 50 bankers for Asia dealmaking team in 2020 – sources
"There is no morality to what they are doing," says Steve Kreisberg, national director of collective bargaining for the American Federation of State, County and Municipal Employees, the city's largest union. "We are deserting our core values. People paid into these schemes. The city is proposing to pay back $300m to the banks. We should be looking at that before we start looking at retirees, widows and children. Everyone knows the city needs to do something and sacrifices have to be made." … [Read more...] about Detroit’s decision to fend off bankruptcy: pay pensions or banks?