With robust disbursement growth due to a pick up in heavy and medium CV, the companys C/I ratio to normalize at 32-33%, comfortable capital position and robust asset quality, will allow SUF to continue its growth momentum going forward.
Larsen & Toubro remains its top pick with a target price of ₹2,520 per share implying a 16% upside. Other picks include Ambuja Cements (target ₹660), Bosch (target ₹22,000), Federal Bank (target ₹168), and Sundaram Finance (target ₹2,890) - all translating into returns of 17-23%.
SGX Nifty up 90 points; here's what changed for market while you were sleeping
Major Asian stocks opened higher on Monday as global market sentiment improved on solid US jobs data and hopes for an economic reopening in China. MSCI's index of Asia-Pacific shares outside Japan was trading 0.63 per cent higher.
Samvat 2079 | Diwali Stocks: Diwali Picks: 5 themes Neeraj Chadawar is betting on for Samvat 2079
“We believe that the FMCG space provides a greater margin for safety and one could make 12-15% from current level also and that is under our consumption space. Under consumption, we also like the QSR space. It is a very good category which has delivered superior returns in the last couple of years and we are betting on Westlife Development under the QSR.”
Diwali Picks: 5 themes Neeraj Chadawar is betting on for Samvat 2079
“We believe that the FMCG space provides a greater margin for safety and one could make 12-15% from current level also and that is under our consumption space. Under consumption, we also like the QSR space. It is a very good category which has delivered superior returns in the last couple of years and we are betting on Westlife Development under the QSR.”
Radhakishan Damani portfolio stocks drop over 8% in intraday trade
On the other hand, shares of India Cements were 5.35 per cent lower at Rs 239.90 over its last days closing of Rs 253.45 a piece. The stock has risen nearly 23 per cent in the past year while it has fallen about 17 per cent in the last week.
For the quarter ended June 30, 2022, the company has reported a consolidated total income of Rs 1252.67 crore, down 3.24 per cent from last quarter total income of Rs 1294.57 crore and down 0.76 per cent from last year same quarter total income of Rs 1262.32 crore.
Axis Long Term Equity mutual fund review: Can deliver healthy returns over the long term
The fund may continue to go through a lean phase but has exhibited ability to deliver healthy outcomes over long term across alternating bouts of under- and outperformance.
Radhakishan Damani lost about Rs 26,300 crore in June 2022 quarter
Avenue Supermarts, his flagship company and operator of D-Mart, has put the biggest dent in his fortunes during the last quarter as he held 65.2 per cent stake in the company as a promoter.
Corporate Radar: Sundaram Fin, Vaibhav Global to turn ex-dividend; Asian Paints, HDFC AMC AGMs & more
These companies had announced final dividends. Sundaram Finance (Rs 0.75 per share) had also announced a special dividend. Venus Pipes & Tubes and Precision Containeurs are among the companies that will announce their quarterly earnings today
Sundaram Home Finance bets on demand in smaller towns
The Chennai-based mortgage lender, a unit of Sundaram Finance, would raise as much as ₹4,500 crore from multiple sources to lend and replace some maturing debt, said D Lakshminarayanan, managing director, Sundaram Home Finance.
Second half of the year to see broad-based recovery: Sundaram Finance
The disbursements of Sundaram Home Finance were up by 136 % to Rs 891 crore during the six-month period ending September 30, 2021 while the profit for the half year period ending September 30, 2021 was at Rs 80 crore as against Rs 99 crore during corresponding period of last year.
Sundaram Finance Q2 results: Net profit falls 8%, but co confident on recovery
Total interest income fell 3 per cent to Rs 1091 crore from Rs 1122 crore a year ago. While impairment costs increased two and a half times to Rs 199 crore from Rs 68 crore a year ago.
Sundaram Finance to look at co-lending to add more asset classes: MD Rajiv Lochan
The company, which has been diversifying into funding of passenger cars, construction and farm equipment in the past few years, would look at co-lending to build newer asset classes, said Rajiv Lochan, a former McKinsey consultant who is now the managing director of the Chennai-based lender.
Commenting on the partnership, TATA Motors, Vice- President, sales, marketing and customer care, Rajan Amba said, "...we are delighted to be partnering with Sundaram Finance to roll out special finance schemes. This is in alignment with our constant effort to fast track the availability of safe personal mobility solutions to individuals and families."
Sundaram Finance, TVS Group companies contribute Rs 8 cr to Tamil Nadu's COVID-19 relief
The contribution includes Rs 2.50 crore to the Chief Minister's Public Relief Fund, Rs 2.50 crore to the Tamil Nadu State Disaster Management Authority and Rs three crore towards import of oxygen concentrators, oxygen flow meters.
SGX Nifty up 44.5 points; here's what changed for market while you were sleeping
Nifty futures on Singapore Exchange traded 44.5 points, or 0.29 per cent, higher at 15,458.5 signaling that Dalal Street was headed for a positive start on Friday.