US Stock Reports, Quotes and News
Contrary to the debut of TBO Tek, the listing of Aadhar Housing Finance was flat, falling short of expectations. The grey market trends signalled a gain of around 15-20% for investors.
The net profit in the year-ago period was Rs 1,180 crore. The company\’s board recommended a 450% dividend for FY24. In other words, shareholders would get Rs 9 per equity share of Rs 2 each, subject to their approval.
Aadhar Housing Finance debuts on BSE at Rs 314.3 post a successful IPO. Leading in low-income housing finance, it has highest AUM, faces market volatility challenges, and raised funds for future lending needs through fresh equity issue and OFS post DHFL Vysya merger.
Shares of Shriram Finance surged 5% to Rs 2,419 on Tuesday following the approval from its board to sell its housing finance unit, Shriram Housing Finance (SHFL), to US private equity firm Warburg Pincus for Rs 4,630 crore. Shriram Finance, which holds a controlling stake in SHFL, and Valiant Partners L.P.
Aadhar Housing Finance IPO Status: Aadhar Housing Finance\’s IPO received 19% subscription on its first day, with QIB investors subscribing 32%, retail investors 14%, and non-institutional investors 12%.
Bajaj Finance shares dropped on BSE as investors reacted negatively to Q4 results. Motilal Oswal downgrades the stock to neutral rating citing weak FY25 guidance. Concerns include new product segments like cars, tractors, CVs, and potentially MFI.
The NBFC had reported PAT at Rs 3,157.79 crore in the year-ago period. Revenue from operations for the quarter stood at Rs 14,926 crore, up 31% YoY. The interest income in the January-March period stood at Rs 13,230.08 crore versus Rs 9,845.98 crore reported in the year-ago period. It was a 34% YoY jump.
44 companies, including Nifty50 components like Bajaj Finance, Nestle, and Tech Mahindra, will reveal their earnings. Bajaj Finance may see a 22% rise in net profit, while Nestle expects a 17% profit jump, and Tech Mahindra anticipates a challenging quarter ahead.
Net profit for the forth quarter is likely to rise to 22% year-on-year (YoY), while net interest income (NII) for the same period is seen growing up to 30% year-on-year.
Bajaj Finance projects strong Q4 results with expected profit and NII growth. Despite RBI restrictions affecting loans, AUM reached Rs 3.3 lakh crore. Key aspects include NIM, cost of funds, and expense control efforts to manage credit costs.
Mahindra & Mahindra Financial Services shares fell 5% to Rs 257 in early trading due to the announcement of delayed Q4 results following a fraud exceeding Rs 150 crore at a North East branch.
Mahindra Finance Q4 results: A financial fraud has been detected at the North East branch of Mahindra & Mahindra Financial Services during the end of the fourth quarter of the financial year ended March 31, 2024, the company informed the exchange in its filing on Monday.