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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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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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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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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Income Tax rules for AY, FY 2019-20: Nine Finance Bill 2019 power points put more money in your pocket

  Income Tax rules change: The Finance Bill 2019 mentions several changes to the Income Tax Act. These will come into effect when the Bill gets the approval of the parliament. The finance bill says that the existing rates of the income tax for the financial year 2019-20 have been continued. But relief has been provided to the taxpayers through certain amendments. These changes will put more money in the hands of individual taxpayers and help improve their lives. Take a look: 1. Income Tax standard deduction limit raise: The…

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RIL shares outperform Sensex after 7 years, rally may continue in 2016

Reliance Industries (RIL) shares outpaced BSE Sensex for the first time after seven years. The share price of the country’s largest private sector company surged 13.63 per cent in 2015 against 5.03 per cent fall registered by the benchmark index in the year gone by. In 2014, RIL shares fell 0.41 per cent against 29.89 per cent gain posted by Sensex. For the year 2016, market experts believe RIL can once again beat benchmark indices and can surge upto 28 per cent in the next 12 months. However, the 30-share…

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