Sundaram BNP Paribas Home Finance cuts PLR by 25 basis points – The Economic Times on Mobile #world #finance #corporation


#sundaram home finance

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Sundaram BNP Paribas Home Finance cuts PLR by 25 basis points

“This reduction is in line with the market and we hope that this would improve the sentiments of home buyers and consequently improve the demand for financing homes.”

CHENNAI: Sundaram BNP Paribas Home Finance, the joint venture firm between non-banking finance company Sundaram Finance and BNP Paribas Securities, has reduced the prime lending rate by 25 basis points with immediate effect.

“The reduction in the rates is applicable to all new loans to be disbursed from October six carrying variable interest rate. The reduction will be passed on to all the existing variable interest rate loans,” the Chennai-based company said in a statement.

The new interest rates on home loans are offered at 9.65 per cent, it said.

“This reduction is in line with the market and we hope that this would improve the sentiments of home buyers and consequently improve the demand for financing homes,” Sundaram Home Finance Managing Director Srinivas Acharya said.

Sundaram Finance holds 51 per cent stake in the joint venture while BNP Paribas Securities Services has the remaining 49 per cent.


The Ministry of Finance, Planning and Economic Development #best #car #finance


#minister of finance

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Ease of Doing business Initiative (EDBI) in Eastern Southern Africa – Uganda 2015, Kampala Sere.

Group Photo at the Conclution of the Ease of Doing business Initiative (EDBI) in Eastern Southe.

H.E the President signs the National Development Plan II 2015-16 to 2019-20.

Hon. Minister of Finance before presenting the National Budget Financial Year 2015-2016

Permanent Secretary/Secretary to the Treasury, Mr. Keith Muhakanizi launches the Annual Budget Mo.

Pre-Election Economic and Fiscal update February 2016


Bajaj Finance, Future Group to provide easy EMI to customers on groceries – The Economic Times on Mobile #finance #calculators


#bajaj finance

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Bajaj Finance, Future Group to provide easy EMI to customers on groceries

The minimum credit facility of Rs 3,000 will be available stretching up to a maximum of Rs 3 lakhs, and the tenure of loan would be three months to 2 years.

MUMBAI: Pune based Bajaj Finance- non-banking arm of Bajaj Finserv, today tied up with Future Group. to provide easy EMI to customers on groceries to household essentials of up to Rs 3 lakhs.

The minimum credit facility of Rs 3,000 will be available stretching up to a maximum of Rs 3 lakhs, and the tenure of loan would be three months to 2 years.

This EMI finance would be available from grocery and household essentials to fashion and accessories, from small appliances to consumer durables, and from furniture to furnishing.

“Connect access to credit with growth in urbanization, the changing demographics, and rising aspirations, and you are ready to disrupt retail once again”, said Sanjiv Bajaj. Vice Chairman, Bajaj Finance Limited.

This facility will be available across all the stores of Big Bazaar, FBB, Central, Home Town and Ezone. EMI financing option would apply on the total invoice value and can be split across several products from different categories. The company plans to extend this facility to Foodhall, Easyday and online platform FabFurnish.com.

“The next big wave of consumption in this country will happen through credit only,” said Kishore Biyani. Group CEO, Future Group. “We have a vision to have one crore customers shopping for Rs one lakh annually at our stores and this idea will make us achieve that goal.”


The Ministry of Finance, Planning and Economic Development #finance #magazines


#minister of finance

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Ease of Doing business Initiative (EDBI) in Eastern Southern Africa – Uganda 2015, Kampala Sere.

Group Photo at the Conclution of the Ease of Doing business Initiative (EDBI) in Eastern Southe.

H.E the President signs the National Development Plan II 2015-16 to 2019-20.

Hon. Minister of Finance before presenting the National Budget Financial Year 2015-2016

Permanent Secretary/Secretary to the Treasury, Mr. Keith Muhakanizi launches the Annual Budget Mo.

Pre-Election Economic and Fiscal update February 2016


Hinduja Leyland Finance files IPO papers to mop-up Rs 500 crore – The Economic Times on Mobile #finance #news #today


#ashok leyland finance

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Hinduja Leyland Finance files IPO papers to mop-up Rs 500 crore

The initial public offer comprises fresh issue of equity shares worth Rs 500 crore and an offer for sale up to 26,608,810 scrips by existing shareholders.

NEW DELHI: Hinduja Leyland Finance. an arm of Ashok Leyland. has filed draft papers with capital markets regulator Sebi to raise at least Rs 500 crore through the initial share sale.

The initial public offer (IPO) comprises fresh issue of equity shares worth Rs 500 crore and an offer for sale up to 26,608,810 scrips by existing shareholders.

The company is considering a pre-offer placement of up to 2.6 crore equity shares for an amount not exceeding Rs 200 crore.

“Hinduja Leyland Finance. a subsidiary company of Ashok Leyland has filed today the Draft Red Herring Prospectus (DRHP) with Sebi for the proposed initial public offering of equity shares,” Ashok Leyland in a regulatory filing to stock exchanges.

It has appointed Axis Capital, ICICI Securities, SBI Capital Markets and Yes Securities as the merchant bankers for the public issue.

Hinduja Leyland Finance, a non-banking finance company (NBFC), provides customised finance to utility vehicles, tractors, cars, two wheeler and other commercial vehicles, focusing on the semi-urban and rural sector.

Hinduja Leyland finance, part of Hinduja Group which has global presence in automobiles, energy, IT/ITES, banking and finance, media, entertainment and infrastructure.


Reliance Captial to demerge commercial finance business – The Economic Times on Mobile #mathematical #finance


#reliance finance

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Reliance Captial to demerge commercial finance business

Anil Ambani-controlled Reliance Capital will demerge its commercial finance business later this fiscal year.

Anil Ambani-controlled Reliance Capital will demerge its commercial finance business later this fiscal year making the company as a holding company which may allow it to apply for a banking license from the Reserve Bank of India, Soumen Ghosh, executive director at the company said.

On Friday, the company said its consolidated net profit rose 33% to Rs 578 crore in the quarter ended March 2016 from Rs 433 crore in March 2015 riding on its stakes sales in its life insurance and asset management companies.

Japan-based Nippon had taken an identical 49% in both Reliance Life Insurance Co and Reliance Capital Asset Management Co. Ghosh said Reliance Capital has got a part of the stake sale amount in the quarter ended March 2016.

Results released on showed that profit from finance and investments which includes the money from the sale of stake to Nippon increased 84% to Rs 522 crore from Rs 284 crore. The company now hopes to sell up to a 49% stake in its general insurance arm later this year.

“The stake sale has helped us this quarter. Going forward we expect to demerge our commercial finance business which needs capital. We have already received RBI consent and are now waiting for the go ahead from the court and the Securities and Exchange Board of India (SEBI),” Ghosh said.

Reliance Capital, was one of the applicants for the banking license when applications were sort by RBI in 2013. On Thursday RBI issued draft guidelines to issue on tap licenses for companies seeking to open new universal banks. Ghosh said his company still has ambitions of starting its own bank and give its suggestions to the central bank on the draft guidelines.


Bajaj group stocks Bajaj Finserv, Bajaj Finance fall up to 4% – The Economic Times on Mobile #capital #finance #one


#bajaj finance

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Bajaj group stocks Bajaj Finserv, Bajaj Finance fall up to 4%

Operating profit margin, meanwhile, declined to 69.09 per cent in the June quarter from 72.41 per cent in the year-ago quarter. The stock fell 3.57 per cent to hit a low of Rs 2,630 on BSE.

NEW DELHI: Shares of Bajaj group firms — Bajaj Finserv and Bajaj Finance — dropped up to 4 per cent in Wednesday’s trade after the former failed to cheer investor with its fourth quarter results, while the latter announced bonus share and stock split.

Bajaj Finserv on Wednesday said its net profit rose 15.12 per cent to Rs 537.51 crore for the June quarter from Rs 466.90 crore reported for the corresponding quarter last year. Net sales for the quarter climbed 31.66 per cent to Rs 2,911.84 crore from Rs 2,211.69 crore reported for the year-ago quarter.

Operating profit margin, meanwhile, declined to 69.09 per cent in the June quarter from 72.41 per cent in the year-ago quarter. The stock fell 3.57 per cent to hit a low of Rs 2,630 on BSE.

Bajaj Finance. on the other hand, declined 2.77 per cent to Rs 9,580 after the board approved subdivision of equity shares with face value of Rs 10 each to five shares with a face value of Rs 2 each. Further, the board approved issue of bonus shares with face value of Rs 2 each for every one share held.

The company said the subdivision would help improve liquidity on the counter. The company expects to complete the process by September 25.


Bajaj Finance, Future Group to provide easy EMI to customers on groceries – The Economic Times on Mobile #sme #invoice #finance


#bajaj finance

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Bajaj Finance, Future Group to provide easy EMI to customers on groceries

The minimum credit facility of Rs 3,000 will be available stretching up to a maximum of Rs 3 lakhs, and the tenure of loan would be three months to 2 years.

MUMBAI: Pune based Bajaj Finance- non-banking arm of Bajaj Finserv, today tied up with Future Group. to provide easy EMI to customers on groceries to household essentials of up to Rs 3 lakhs.

The minimum credit facility of Rs 3,000 will be available stretching up to a maximum of Rs 3 lakhs, and the tenure of loan would be three months to 2 years.

This EMI finance would be available from grocery and household essentials to fashion and accessories, from small appliances to consumer durables, and from furniture to furnishing.

“Connect access to credit with growth in urbanization, the changing demographics, and rising aspirations, and you are ready to disrupt retail once again”, said Sanjiv Bajaj. Vice Chairman, Bajaj Finance Limited.

This facility will be available across all the stores of Big Bazaar, FBB, Central, Home Town and Ezone. EMI financing option would apply on the total invoice value and can be split across several products from different categories. The company plans to extend this facility to Foodhall, Easyday and online platform FabFurnish.com.

“The next big wave of consumption in this country will happen through credit only,” said Kishore Biyani. Group CEO, Future Group. “We have a vision to have one crore customers shopping for Rs one lakh annually at our stores and this idea will make us achieve that goal.”


Bajaj Finance ties up with retailers for loans to buyers for clothes, shoes, watches – The Economic Times on Mobile #finance #used #cars


#bajaj consumer finance

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Bajaj Finance ties up with retailers for loans to buyers for clothes, shoes, watches

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Now, buy clothes, shoes at zero interest

KOLKATA: Bajaj Finance has tied up with retailers and brands for loans tailor made for buyers of clothes, shoes, watches, eyewear and fashion accessories, making it the first such scheme to be rolled out in India.

The retailers will bear the interest component of the loan, making it a no-cost equated monthly instalment (EMI) option for the consumer. The new thrust was triggered by the company’s pilot project in Pune, Hyderabad and Vadodara that found rising aspiration levels but lower discretionary spending.

Bajaj has tied up with the likes of Flipkart. AND, Global Desi, Benetton, Me & Mom. and hundreds of local retailers, and is in advanced stages of rolling out the scheme with other large retail chains. Consumers running up a bill value exceeding Rs 5,000 can opt for the scheme.

Bajaj Finance president (consumer business) Devang Mody said consumers today have access to all the aspirational fashion brands, but their lower wallet size remains a concern. “Retail fashion finance is common in Western markets done by Gap, Target, Macy’s and Walmart. so it was a natural extension for us as well,” he said.

The company will take the apparel and accessories finance live in 15 markets by this month and double it by Diwali. It has already put in place partnerships with brands covering about 2,000 stores. By the end of this fiscal, Bajaj Finance aims to take that to over 10,000 stores with about 1,500 brands.

Incidentally, jeans brand Levi’s had rolled out a consumer finance scheme six years back in India when the economic slowdown had badly impacted consumer spending. But other brands did not follow up the strategy much then.

Consumers are still sceptical about big-ticket purchases and prefer to limit buying to mostly discount sales and the festival season, though the economic environment has improved since then.

Mody said lifestyle categories like retail fashion, travel and holidays are typically high aspiration categories where purchases are more discretionary and together represent a discretionary spend pool of Rs 4.5 lakh crore, much larger than Bajaj’s mainline business of consumer durables and smartphones.

Bajaj has also forayed into travel and holiday finance by partnering with Cox & Kings. Next on its cards is a finance scheme for grocery, too.

Bajaj, which financed white goods and televisions worth Rs 15,000 crore worth last fiscal year, has 55 lakh consumers enrolled with the company for pre-approved loans. It expects around 25% of them to opt for apparel and fashion loans, translating into spends of around Rs 1,000 crore.


Definition of Beta – The Economic Times #finance #assistant #jobs


#beta finance

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Definition of ‘Beta’

Definition: Beta is a numeric value that measures the fluctuations of a stock to changes in the overall stock market.

Description: Beta measures the responsiveness of a stock’s price to changes in the overall stock market. On comparison of the benchmark index for e.g. NSE Nifty to a particular stock returns, a pattern develops that shows the stock’s openness to the market risk. This helps the investor to decide whether he wants to go for the riskier stock that is highly correlated with the market (beta above 1), or with a less volatile one (beta below 1).

For example. if a stock’s beta value is 1.3, it means, theoretically this stock is 30% more volatile than the market. Beta calculation is done by regression analysis which shows security’s response with that of the market.

By multiplying the beta value of a stock with the expected movement of an index, the expected change in the value of the stock can be determined. For example. if beta is 1.3 and the market is expected to move up by 10%, then the stock should move up by 13% (1.3 x 10) .

Beta is the key factor used in the Capital Asset Price Model (CAPM) which is a model that measures the return of a stock. The volatility of the stock and systematic risk can be judged by calculating beta. A positive beta value indicates that stocks generally move in the same direction with that of the market and the vice versa.

Also see: volatility, CAPM, NSE Nifty, alpha.

Definition: Traders use this strategy when they expect the price of an underlying to decline in the near future. This involves buyin.

Definition: Bid-Ask Spread is typically the difference between ask (offer/sell) price and bid (purchase/buy) price of a security. As.

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