Buy Indostar Capital Finance; target of Rs 175: Motilal Oswal
Motilal Oswal is bullish on Indostar Capital Finance recommended buy rating on the stock with a target price of Rs 175 in its research report dated May 30, 2023.
The OFS opens today for non-retail investors and tomorrow for retail investors. Promoter Indostar Capital and Everstone Capital Partners II LLC plan to sell 19.34 million shares, or a 14.21 percent stake, at a floor price of Rs 95 a share, which is at a 22.8 percent discount to the closing price on May 2
Steel major Tata Steel Ltd reported consolidated net profit of Rs 1,705 crore for the January-March period. This is a fall of 82% from Rs 9,756 crore a year ago.
IndoStar Capital Finance promoters to sell 14.2% stake via OFS; floor price at 20% discount
Under the OFS, promoters Indostar Capital and Everstone Capital Partners will offload about 1.93 crore equity shares with a floor price fixed at Rs 95 per unit, a 20% discount from the last closed price of Rs 120. On May 4, the OFS will be available for retail investors, whilst non-retail investors who have placed their bids on 'T Day' may carry forward any un-allotted to T+1 day.
JM Financial, Indostar in talks to merge mortgage businesses
Non-bank lenders JM Financial and Indostar on Monday announced that they are in "preliminary discussions" to merge their respective mortgage verticals into a single entity.
JM Financial Home Loans in talks with Indostar Capital's home finance business
"The companies are engaged in preliminary discussions to explore potential strategic options including potential combination and listing of the retail mortgage portfolio of JM Financial and the home finance business of Indostar Home Finance Private Limited including other mortgage-backed business of Indostar," JM Financial said in a regulatory filing to stock exchanges.
The portfolios include ₹1,100 crore from Indiabulls Home Finance, consisting of home loans and loans to builders, and ₹1,200 crore of commercial vehicle loans from IndoStar Capital Finance, two people familiar with the transactions said.
Indostar Capital says auditor found lapses in CV book, firm may make up to Rs 677 crore ECL provisions
Separately, the NBFC is also initiating a review for undertaking root cause analysis of deviations to credit policies and check on the gaps in the internal financial controls and systems.
NBFC Shrinithi Capital ties up with IndoStar Capital Finance for Rs 300 crores co-lending arrangement
IndoStar Capital Finance is a 10,000 crore net worth company owned by Everstone Capital and Brookfield investment, Canada. The agreement between the two companies was signed by IndoStar Capital Finance CEO Deep Jaggi and Shrinithi Capital CEO S Sellamani.
IndoStar Capital CEO R Sridhar’s family inks Rs 27.25 crore property deal in Mumbai’s Chembur
Sridhar and his family have paid stamp duty worth Rs 1.35 crore for these deals, which were registered on 6th September, showed the documents accessed by ET.
Indostar Capital reports net loss of nearly Rs 37 cr in June qtr
Its net revenues from operations were down at Rs 126.60 crore during the April-June quarter of 2021-22, as against Rs 149.60 crore in the same period of 2020-21, Indostar said in a release.
IndoStar Capital to exit corporate lending business by March 2022
"From a portfolio size of Rs 6,000 crore in 2018, the corporate book is down to Rs 2,500 crore as of date, which is a reduction of around 60 per cent (We have collected Rs 3,500 crore). By March 2022, the wholesale and corporate book will become zero," executive vice-chairman and chief executive R Sridhar said. The company will continue to focus on and expand its retail segment, he said.
Neutral on Indostar Capital, target price Rs 306: Motilal Oswal
Indostar Capital Finance Ltd., incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 3633.97 Crore) operating in NBFC sector.
IndoStar Capital Finance Q2 net down 36% at Rs 32 crore
The firm has further accelerated its retailisation strategy in a challenging market environment and has equipped itself with capital to pursue growth opportunities.
IndoStar Capital Finance appoints Deep Jaggi as chief business officer
Jaggi joins from HDB (a wholly-owned subsidiary of HDFC Bank), where he was head of asset finance for the past 10 years and was responsible for the P&L of commercial vehicles, construction equipment, passenger vehicles and tractor businesses. He has been associated with Cholamandalam Finance and Apollo Tyres in his earlier roles.
IndoStar Capital Finance board okays Rs 10,000 crore fund raise plan through bonds
The decision was taken at the company's board of directors meet on August 12 to declare and approve quarterly results for quarter ended June 2020, the non-banking finance company said in a regulatory filing.
Trade Setup for Tuesday: Top 15 things to know before Opening Bell
Key support level for the Nifty is placed at 10,261.3, followed by 10,211.4. If the index moves up, the key resistance levels to watch out for are 10,377.4 and 10,443.6.
Govt of Singapore picks up 1.14% stake in ICICI Pru Life, Edelweiss MF acquires 2.45% in Indostar
Glenmark Pharmaceuticals was the star performer of the day, wherein HSBC Pooled Asian Equity Fund sold 18,79,542 shares at Rs 527.77 per share on the NSE.
FPIs sell 1.2% stake in Aarey Drugs, HT Media offloads more shares in JHS Svendgaard
Pace Stock Broking Services acquired 6,55,314 shares in IndoStar Capital Finance at Rs 285.05 per share on the NSE and 7,45,264 shares at Rs 285.04 per share on the BSE.
Trade Setup for Thursday: Top 15 things to know before Opening Bell
The key support level for Nifty is placed at 9,101.47, followed by 8,887.98. If the index moves up, key resistance levels to watch out for are 9,431.22 and 9,547.48.