Non-Banking Financial Company

How Demonetization May Actually Help ICICI Bank

Demonetization may boost e-commerce in India and assist ICICI Bank's growth strategy. India is the fastest growing major economy in the world, growing at twice the rate of the rest of the world.ICICI Bank presents a great way to play this growth as the bank is directly linked to the growth of a rising middle class of consumers. Indian Demonetization […]

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Small Housing Finance Firms Rally As Banks Cut Lending Rate

Frontline banks and financial institutions fell, while smaller housing finance companies rallied after leading government-owned banks cut lending rates. State Bank of India dropped as much as 3 percent after it announced up to 90 basis points reduction in lending rates. Punjab National Bank and Union Bank of India also fell after announcing rate cuts on the weekend. Considering low […]

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For NBFCs, the Ride through the Tunnel has Just Begun

From conglomerates to micro lenders, all NBFCs have borne the brunt of investor pessimism due to demonetisation. Non-banking finance companies (NBFCs) had great going for them this year until demonetisation pulled the brake. Since 9 November, when demonetisation took effect, NBFC shares have lost massively, some more than others depending on how vulnerable they were perceived to the currency withdrawal. […]

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Jafferies says demonetisation may hit NBFCs loan growth

We believe currency demonetisation could hurt loan growth at NBFCs. Stress in SME book would rise. We have cut our FY17-18E EPS by 2-23%. We believe premium valuation multiples at NBFCs may not sustain given moderating earnings growth outlook and delay in asset quality recovery. We downgrade Bajaj Finance and Capital First to Underperform; Shriram Transport, Mahindra Finance to Hold. […]

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