Weekly Tactical Pick: Indostar Capital Finance

We are recommending Indostar Capital Finance (CMP: Rs 350, market capitalisation: Rs 3,200 crore), the asset financing non-banking financial company (NBFC), as a tactical pick. Primarily, a wholesale financier, it forayed into SME, vehicle and housing finance to de-risk its loan book. The result of its diversification strategy is clearly evident in the changing mix of its loan book in favour of retail assets. To grow its non-corporate book, Indostar acquired the commercial vehicle finance business of IIFL Finance last month. The acquisition of CV finance assets of Rs 3,949…

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New model launches marginally boost automobile sales in February

New model launches helped automobile sales in February rise a little over the year-ago period, according to monthly data released by companies on March 1. Cumulative sales of India’s top passenger vehicle makers — Maruti Suzuki, Mahindra and Mahindra, Tata Motors, Honda Cars, and Toyota Kirloskar — increased to 206,418 units in February over 200,322 units in the same month last year. This is an increase of 3 per cent. Hyundai Motor had not released sales figures till the time of going to press. Weak sentiments would have hit sales…

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RBI Governor Das to meet heads of Small Finance Banks on March 15

Reserve Bank of India (RBI) Governor Shaktikanta Das will hold a meeting with heads of Small Finance Banks on March 15 to discuss their participation in priority sector lending and financial inclusion. “Small Finance Banks have an important role in promoting financial inclusion and priority sector lending,” RBI Governor Shaktikanta Das wrote on his Twitter page on March 14. “Will hold meeting with MD/CEOs of Small Finance Banks tomorrow.” There are 10 Small Finance Banks in India currently. In 2017, RBI gave out differentiated banking licences to Equitas Holdings, Ujjivan…

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Automobile researchers, organisations can buy bulk vehicle data from the next fiscal

To ‘support’ the automobile industry, the government has come out with a policy where organisations and researchers can buy bulk data pertaining to vehicle registrations on an annual basis. Eligible bodies can purchase the data for Rs 3 crore from the next fiscal and would be required to ensure strict security steps to prevent its theft or transfer, according to the policy approved by the government. Violation of data, the policy warns, will result in action under the IT Act and other applicable laws besides debarring the agency from access…

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Ban Anonymous Cryptocurrencies, Says French National Assembly’s Finance Head

The Finance Committee of France’s National Assembly recently put together a report (PDF) on crypto assets and blockchain technology. The committee’s report includes a forward from the committee’s president, Éric Woerth. In this introductory portion of the report, Woerth claims it would be appropriate to propose a ban on activity related to cryptocurrencies built with the goal of providing greater levels of anonymity to users. Woerth’s Comment on Anonymous Cryptocurrencies Before getting into the issues associated with privacy-focused cryptocurrencies, Woerth briefly mentioned some of the challenges created by the existence…

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Automobile dealers body seeks rollback of new GST changes

MUMBAI: Seeking a rollback of the amendments in the GST Act, the automobile dealers body Federation of Automobile Dealers Associations (Fada) has said the changes will have a major impact on their already poor cash flows on the back of slowing sales. The federation feels that the insertion of a new section 49A of the GST Act puts an “unwaranted burden” on their working capital requirements, as they are already hit by slowing sales which began from last September. Under the changes, effective January, IGST credit has to be first…

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Power Finance not to extend open offer to REC’s minority holders

  Power Finance Corp said on Monday the company was not considering extending the open offer to the minority stakeholders for its deal with REC Ltd. There has been no finalisation on the deal value, the non-banking finance company said. The Indian government had approved a plan in December by one state-owned lender to the power industry, Power Finance, to buy a majority stake in a similar government-controlled lender, REC Ltd.

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How Internet of Things will power business processes in 2019

As advancing technologies integrate deeper into the everyday functions of businesses, companies are finding themselves faced with a paradigm shift towards a more intelligent and connected world. Amidst the maturing technologies leading this revolution is Internet of Things (IoT). By the year 2020, companies will be spending $310 billion in IoT every year. Some key IoT trends that can be expected to further gain tractions in the coming year are: Centralised IoT systems will become a vital force to drive businesses: A centralised IoT system delivered as a Software-as-a-Service (SaaS)…

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Maruti Suzuki Launches Mobility And Automobile Innovation Lab

  Maruti Suzuki India Limited today launched a program – Mobility & Automobile Innovation Lab (MAIL) to promote innovation in India in the automobile and mobility space. The initiative will help in identifying innovative and cutting edge solutions through start-ups, which are futuristic and customer oriented. The program will provide a platform to the budding talent in India to showcase their entrepreneurial capabilities at a national level. Explaining about the program, Mr. Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India said, “The Indian Automobile industry is constantly evolving. The…

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Explore Travel campaign offers £500 discounts for solo trips

  Explore Travel is urging agents to take advantage of solo travel discounts of up to £500 to help convert bookings, with holidaymakers keen to realise their trip of a lifetime. New research by the adventure travel specialist has found the most significant barriers to people going on their dream holidays are money, time – and reluctant partners. Its survey of 1,000 UK adults found 42% of people have experienced challenges with their partners choosing when, why and how to travel. However, 59% of respondents said these factors wouldn’t actually…

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