Hinduja Leyland Finance (HLF) was formed in 2008 and was registered as a non-deposit accepting non-banking finance company (NBFC) in March 2010. The company is promoted by Ashok Leyland Ltd which is the flagship automobile manufacturing company of the Hinduja group.
Avanse Financial Services Limited is operating in the business of providing education loans for the purpose of higher studies both in India and abroad and also to Education Institutions for their working capital and growth capital requirements.
Svatantra Micro Housing Finance Corporation Ltd (SMHFC) is promoted by Aditya Birla family and other investment companies of Aditya Birla Group. SMHFC operates in 11 states and 1 union territory through more than 100 districts.
Kogta Financial Ltd is a NBFC primarily in financing vehicles and Micro, Small and Medium Enterprise (MSME) segment, along with loans against property. Company raised Rs. 4.84 billion from various series of funding from IIFL Seed Ventures Fund, Morgan Stanley, Morgan Stanley Asia, and Creador Advisors LLP.
Edelweiss Housing Finance Ltd public debt issue offers yield that ranges from 8.49% to 9.7%.
During FY21, PCHFL reported a net profit of Rs 10.3 billion as compared to Rs 0.3 billion in FY20. The low profitability in FY20 was due to higher provisioning. However, interest income declined to Rs 50.7 billion during FY21 from Rs 55.69 billion in previous fiscal year
Bank has been rated as AAA by CRISIL and ICRA. Recently ICRA has upgraded rating of Basel III Tier II Bonds to AAA from AA+(hyb) while Additional Tier 1 bonds (Basel III) issued has been upgraded to AA+ from AA while short-term rating is A1+.
Five-Star Business Finance Ltd (FSFL) is a Chennai based RBI registered non-deposit accepting, Non-Banking Finance Company (NBFC). All these loans are collateralized and secured against the residential property of the customers and are given targeting the middle and lower middle-class segment.
Being the subsidiary of MFIL, Asirvad Microfinance Ltd receives timely support from it in terms of both capital and managerial assistance. The microfinance segment is strategically important to the Manappuram group, as it is the largest business after gold loans.
Aadhar Housing Finance Limited has been rated as AA(Stable) by both CARE & BWR
HDFC Credila Financial Services Limited as ben rated as AAA by CARE, ICRA & CRISIL.
Being promoted by Shriram City Union Finance, Shriram Housing Finance receives both managerial, capital and operational support from it. Consequently, it helps the company an established image in market and to expand customer network.
After merger, the new entity will be known as Shriram Finance Limited. Consequent to merger, all lending products including loans for commercial vehicles, two-wheeler loans, gold loans, personal loans, auto loans, and small enterprise finance will be under one group.
Indicative YTM of Bharat Bond ETF 2032 stood at 6.87%.
During Q2FY22, net interest income rose by 8.28% on yearly basis to Rs 47 billion during Q2FY22. In the same line net profit also increased by 12.66% during the same quarter. During H1FY22, net interest income moved up by 11.18% on yearly basis while net profit declined by 6.31%.
During Q2FY22, India Grid Trust distribution per unit of Rs 3.19 per unit and Rs 6.38 during H1FY22. On yearly basis, its DPU rose by 6% during Q2FY22. The trust has targeted a DPU of Rs 12.75 during FY22. Dividend yield stood at 8.91% as per last dividend payment.
IndInfravit has 11 toll projects and 2 annuity projects located in Maharashtra, Telangana, Karnataka and Rajasthan. Sponsor of the IndInfravit is L&T Infrastructure Development Projects Ltd and investment manager is LTIDPL INDVIT Services Ltd, who has 2 decades of experience in managing infrastructure projects.
Shrem InvIT has been rated as AAA/Stable by ICRA & India Rating
Powergrid Infrastructure Investment Trust declared its first dividend of Rs. 4.50 per unit for financial year 2021-22 comprising Rs. 3.02 per unit as interest, Rs 0.96 per unit as taxable dividend and Rs. 0.52 per unit as tax free dividend.
Recently ICRA has downgraded to BB- from BBB- as board of IFCI Limited to roll over the upcoming repayment of one of its bonds.
Financial risk profile of the company continues to remain weak due to accumulated losses, high debt levels, and negative net worth and cash accruals. However, it is a government backed bond the credit risk remains zero despite any deterioration in financial health.
As of FY21, Tata Sons has 269 subsidiaries and together with subsidiaries had 39 associates and 40 joint ventures.
Synopsis: Latest fiscal stimulus will improve the creditworthiness of corporates that are struggling with covid lockdowns but will also pull up inflation. Corporate bonds trading at higher yields can be attractive while gsecs, psu bonds, and AAA corporate bonds may see a rise in yields on inflation.
RRVPNL is 100% owned by the GoR and gets timely support from the state government to compensate its capital expenditure and funding requirements. It can be noted that GoR has infused Rs.2.50 billion of equity in this company as of FY20.
Union Government has infused Rs 55 billion into the bank in lieu of preferential allotment of shares. Consequently, bank’s net worth stood at Rs 51.26 billion. It raised capital adequacy ratio to 17.06% as of 31st March 2021 from 12.76% a of 31st March 2020.
Piramal Capital & Housing Finance Ltd (PCHFL) is a housing finance company formed in February 2017. The company is a wholly owned subsidiary of Piramal Finance Limited and is the flagship entity of the Piramal group’s financial services business.
The company is a rural-focused NBFC-MFI with a geographically diversified presence across India. Company offers income generation loans under the joint liability group model, mainly to women from low-income households in rural India.
Muthoot Finance– is the largest gold loan NBFC in India in terms of loan portfolio.
Srei Infrastructure Finance Ltd raised funds through a public debt issue in May 2019, when it was rated AA+.
AAA-rated India Grid Trust is a power sector Invit.
IndusInd Bank (IIB)- IIB has a pan-India presence with 1,558 branches and 2,453 ATMs as on December 31, 2018.
Muthoot HomeFin (MHF)- MHF is a non-deposit taking housing finance company and was registered with the National Housing Bank on May 19, 2014.
L&T Finance is a wholly-owned subsidiary of L&T Finance Holdings, which, in turn, is majority owned by L&T.
ECL Finance is a part of Edelweiss group, ECL Finance is a non-deposit taking NBFC, which focuses on offering a broad suite of secured corporate loan products and retail loan products, which are customized to suit the needs of corporates, SMEs and individuals.
ECLF is the primary NBFC arm of Edelweiss Financial Services Limited (EFSL) with 100% shareholding.
Immediately there is unlikely to be any rating action on Shriram Transport bonds as SVL repayment is due next year and the group has clarified that they will honour all commitments through their own resources.
Future Consumer (FCL), within just five years, has made its mark in thebranded FMCG market.
DHFL is facing the markets risk aversion on credits due to its high leverage of over 10x.
JSW Steel Ltd, a part of the O.P. Jindal Group, manufactures iron and steel products.
Recovery in Domestic Commercial Vehicle and Passenger Vehicle Sales