Ujjivan Small Finance Bank files Rs 1,200 cr IPO papers

Ujjivan Small Finance Bank is planning an initial public offering to raise Rs 1,200 crore. The company on August 16 filed a draft red herring prospectus with SEBI. “Ujjivan Small Finance Bank is proposing to undertake an initial public offering of equity shares of face value of Rs 10 each, comprising a fresh issue of equity shares by bank aggregating up to around Rs 1,200 crore,” Ujjivan Financial Services said in its BSE filing. The price band for public issue may be determined by bank in consultation with the book running lead managers…

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IIFL Finance eyes Rs 1000-cr NCD sale

Non-banking lender IIFL Finance is looking to raise up to Rs 1,000 crore through a domestic bond sale this month. The issue, which comes in times of liquidity stress, has been priced at similar levels as the one in January when it had raised Rs 1,200 crore, offering a coupon up to 10.5 percent, the company said. Chief executive Sumit Bali exuded confidence that despite the elevated cost, they will be able to maintain net interest margins at 7 percent because of its focus on retail. It is looking to…

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PM Modi, Ministers spend Rs 393 cr on foreign, domestic travel in 5 years

A Right to Information (RTI) query has revealed that Prime Minister Narendra Modi and his Council of Ministers incurred an expenditure of Rs 393 crore on foreign and domestic travel in last five fiscal years. City-based RTI activist Anil Galgali had filed an RTI query with the PMO seeking the total Foreign Travel Expenses (FTE) and Domestic Travel Expenses (DTE) incurred by the Prime Minister and his council since May 2014. In December 2018, the Modi government, replying to queries on foreign travel expenses in Rajya Sabha, had said that…

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Hold Shriram Transport Finance Company, target Rs 1,181: Emkay Global Financial Services

View of the brokerage- MHCV slowdown resulting in slower disbursements: The domestic MHCVs are showing tepid demand due to high base effect, rural distress, changes in axle norms, leading to surplus capacity and slowdown in real estate. Although the implementation of BSVI emission norms may drive some pre-buying for CVs, the used CV segment is at a downturn as driver-owner is facing surplus capacity with stagnating income levels. We revise our disbursements growth estimates downward to nearly 10 per cent CAGR for FY18-20E from nearly 14 per cent earlier, considering the…

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Buy Reliance Home Finance; target of Rs 91: Cholamandalam Securities

RELHF’s loan book grew by 26% YoY to INR 156.4bn (lower than CSEC’s estimate of 47%). However, the book declined by 4.5% sequentially. Growth in AUM came predominantly from Construction finance and individual loans segments which grew by 25% and 21% YoY respectively. The management expects its AUM to grow by 45% CAGR over FY19-21E. Self employed segment, being the niche area for the company, continued to constitute 75% of Home loan disbursements in 1QFY19. Adding to the de-growth in loan book, the company also saw a 30bps (QoQ) dip…

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Oppo Find X With Stealth Camera Unveiled in India, Price in India Is Rs. 59,990: Event Highlights

Oppo Find X price in India will pit it against iPhone 8 and Samsung Galaxy S9 HIGHLIGHTS Oppo Find X price in India is Rs. 59,990 The smartphone’s USP is the narrow bezel display and pop-up camera It also has 3D facial scanning, Snapdragon 845 SoC, 8GB RAM The Oppo Find X India launch event has started, bringing the bezel-less smartphone with motorised camera a step closer to fans in the country. Rishabh Srivastava, Product Manager, Oppo has taken the stage to highlight the top features of the new Find X smartphone. Oppo…

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Jio Oppo Monsoon Offer: Jio’s New Offer Gives Users Benefits Worth Up to Rs. 4,900

HIGHLIGHTS Jio Oppo Monsoon offer is applicable between June 28 and September 25 Offer is valid only on Jio 198 and Jio 299 prepaid recharges All new 4G Oppo phones, except the Realme 1, are eligible Jio has announced a new offer for those buying an Oppo smartphone. Under the brand new Jio Oppo Monsoon offer, the telco is offering benefits worth “up to Rs. 4,900” though you may have to wait a long, long time for most of those benefits to get realised. The offer is being extended to both new and…

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iVOOMi V5 launched in India with Reliance Jio’s Rs 2,200 cashback offer

Chinese electronics company iVOOMi on Thursday announced its partnership with Reliance Jio to offer a cashback of Rs 2,200 on the purchase of new smartphone V5. Priced at Rs 3,499, the dual-SIM device is available on Snapdeal. “This entry-level smartphone is in line with our objective to broaden the horizon of advanced technology and features in the affordable segment of smartphones in India,” Ashwin Bhandari, CEO, iVOOMi India, said in a statement. The 5-inch device with shatterproof display sports a 5-megapixel rear camera with LED flash and a 5-megapixel front…

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Buy Repco Home Finance; target of Rs 684: Cholamandalam Securities

Cholamandalam Securities’ research report on Repco Home Finance   RHFL’s loan book grew at moderate rate (10.3%YoY, 3.9%QoQ) to INR 99bn on the back of higher disbursements (27.7% YoY, 29.2% QoQ). In 4QFY18, Sanctions grew by 32.2% YoY (19.4% QoQ) which poses healthy loan growth trajectory for coming quarters. The management expects loan book to grow by ~20% in FY19E (15% growth in TN and 20-25% growth in ex-TN regions) and disbursements by 35-36% in FY19E. Growth in loan book was led by salaried segment (18.8%YoY). Non-salaried segment witnessed a moderate…

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Indian Mobile Manufacturing to Touch Rs. 132,000 Crores by Year-End: Ravi Shankar Prasad

Indian mobile manufacturing industry is expected to touch Rs 132,000 crore by the end of 2018, Electronics and IT Minister Ravi Shankar Prasad said on Thursday. India manufactured about 110 million mobile phones in 2015-16 as compared to 60 million in 2014-15, a growth of over 90 percent. In value terms, India’s mobile manufacturing industry produced mobile phones worth Rs 54,000 crore in FY15-16, compared to Rs 18,900 crore in FY14-15. This touched Rs 94,000 crore by the end of 2017, the minister said. He was speaking at an event organised by MeitY,…

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