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New Delhi, Non-Banking Financial Company (NBFC) <keyword id="3504742" type="General" weightage="20" keywordseo="IIFL-finance" source="Orion">IIFL Finance</keyword> has become the second largest gold loan provider surpassing Manappuram Finance. "The gold loan portfolio has crossed Rs 23,690 crore assets under management (AUM), surpassing Manappuram Finance at Rs 20,809 crore worth of gold loan AUM. "This has cemented <keyword id="82050" type="General" weightage="20" keywordseo="IIFL" source="Orion">IIFL</keyword> Finance's position as the second largest gold loan provider in India in terms of AUM," IIFL Finance head of Gold Loan Business Saurabh Kumar, said. The market leader in gold loans is Muthoot Finance with an AUM of Rs 66,089 crore, as of September 2023. Kumar said, "the company has about 18.6 lakh customers and over 70 per cent of our customers are repeat customers helped by customer centric approaches like repayment grace period, no foreclosure charges, transparency in dealings and proactive customer need identification." The company expects a 25-27 per cent increase in gold loan in FY'24, he said. IIFL Finances provides gold loans through 1,486 towns and rural areas across 25 states and 4 Union Territories to salaried, self-employed and Micro, Small and Medium Enterprises (MSME) customer segments. Besides, gold loan, IIFL Finance offers affordable home loan, microfinance loans and business loans and has a consolidated AUM of Rs 73,066 crore.

IIFL Finance emerges as second largest gold loan NBFC

New Delhi, Indian-Canadian billionaire Prem Watsa-backed <keyword id="20847043" type="General" weightage="20" keywordseo="fairfax-india" source="keywords">Fairfax India</keyword> on Wednesday announced its commitment to provide up to USD 200 million (about Rs 1,650 crore) liquidity support to IIFL Finance after the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> barred the non-bank lender to disburse gold loans. The RBI's embargo has raised liquidity concerns among the company's investors and lenders, Fairfax India Holdings Corporation said in a statement. In response to these concerns, Fairfax India has agreed to extend up to USD 200 million of liquidity support on terms to be mutually agreed and subject to applicable laws, including regulatory approvals (if any), it added. "We have been long-term investors in the IIFL group of companies and have full trust and confidence in the company's strong management team led by Nirmal Jain and R Venkataraman. We are confident that Nirmal and Venkat will take corrective actions to meet and exceed RBI's compliance standards," said Fairfax India chairman <keyword id="20146567" type="General" weightage="20" keywordseo="prem-watsa" source="keywords">Prem Watsa</keyword>. Commenting on the development, IIFL Finance Managing Director Nirmal Jain said at this crucial juncture, Fairfax India's and Prem's generous offer to provide liquidity support is very timely and motivating. "We are committed to complying fully with RBI's directives and growing the business under the regulator's guidance on the strong foundation of compliance, risk management, and fair practices," Jain said. Earlier this week, the <keyword id="19922074" type="General" weightage="20" keywordseo="reserve-bank" source="keywords">Reserve Bank</keyword> barred <keyword id="20849308" type="General" weightage="20" keywordseo="iifl-finance-ltd" source="keywords">IIFL Finance Ltd</keyword> from disbursing gold loans, with immediate effect following multiple supervisory concerns, including serious deviations in assaying and certifying the purity of the yellow metal. IIFL Finance offers a range of loans and mortgages. The latest directions from the RBI pertain to only the gold loan business. The RBI in a statement had said certain material supervisory concerns were observed in the gold loan portfolio of the company. The concerns include serious deviations in assaying and certifying purity and net weight of the gold at the time of sanction of loans and at the time of auction upon default; breaches in loan-to-value ratio; significant disbursal and collection of the loan amount in cash far in excess of the statutory limit; non-adherence to the standard auction process; and lack of transparency in charges being levied to customer accounts.

Prem Watsa-backed Fairfax India commits up to $200 mn to IIFL Finance

New Delhi, Jan 28 () India Infoline Finance Ltd on Tuesday reported a 78 per cent increase in consolidated net profit at Rs 193 crore for December quarter of 2019-20.
 The company had registered a net profit of Rs 108.4 crore in the year ago period.
 Income during October-December period of 2019-20, was down by 2 per cent to Rs 582.60 crore, as against Rs 593.40 crore a year ago, IIFL said in a release.
 India Infoline Finance had loan assets under management of Rs 36,015 crore as on December 31, 2019, with home loans segment constituting 34 per cent, business loans 23 per cent, gold 21 per cent and microfinance 8 per cent of the total AUM, it said.
 "Although economic growth and macro headline numbers are yet to show a perceptible improvement, credit demand and liquidity show green shoots," IIFL Finance Chairman Nirmal Jain said.
 In the quarter ended December 31, 2019, there was a marked uptick in credit growth as well as long term borrowings, Jain said.
 Company's gross non-performing assets (NPAs) stood at 2.27 per cent and net NPA at 0.98 per cent as on December 31, 2019.
 Stock of the company traded at Rs 162.85 on BSE, down 4.01 per cent from previous close. KPM DRR
DRR

IIFL Finance Q3 net jumps 78 pc to Rs 193 cr

New Delhi, Jan 28 () Moody's Investors Service and Fitch Ratings have given a stable outlook to the credit ratings of India Infoline Finance Ltd (IIFL), according to a regulatory filing on Tuesday.
 The agencies have assigned ratings to the company. 
 Moody's Investors Service has assigned a first-time Ba3 corporate family rating to India Infoline Finance Ltd.
 Moody's Corporate Family Ratings (CFR) are opinions on a corporate family's ability to honour all of its financial obligations.
 The global ratings firm has also assigned (P)Ba3 long-term foreign and local currency senior secured ratings to the company's USD 1 billion Euro Medium-Term Note (EMTN) programme, according to the regulatory filing. It added that the outlook is stable.
 On the ratings rationale, Moody's said it is driven by the company's stable and healthy solvency profile, including its asset quality, profitability and capital.
 Meanwhile, Fitch Ratings has assigned long-term issuer default rating (IDR) of 'BB-' to IIFL. It also kept the the outlook stable.
 'BB-' denotes elevated vulnerability to default risk.
 The agency has also assigned a 'BB-' rating to IIFL's USD 1-billion medium-term note (MTN) programme
 IIFL reported a 78 per cent rise in its consolidated net profit to Rs 193 crore for the December 2019 quarter.
 Incorporated in 2004, the mid-sized retail finance company targets low-ticket retail loans such as home, business, gold and micro finance in semi-urban and rural areas of the country. Such assets represented 86 per cent of its total assets under management (AUM) at 31 December 2019.
 Moody's Investors Service said about 14 per cent of IIFL's loans are exposed to riskier segments, including small and mid-corporate segments, in the form of loans to developers (13 per cent) and loans for capital market activities (1 per cent).
 "Despite the tight funding conditions, India Infoline Finance has managed to proactively diversify its funding to more stable and long-dated funding sources, such as term loans from banks and non-convertible debentures," Moody's said. KPM HRS

Moody's Investors Service, Fitch Ratings give stable outlook to India Infoline Finance Ltd

New Delhi, Dec 11 () Piramal Group and IIFL Wealth Management on Wednesday said they have set up Rs 2,000 crore corpus for last-mile funding in real estate projects across major cities.
Piramal and IIFL Wealth Management announced a "co-investment on an Alternative Investment Fund (AIF) platform to fund select advance stage / last-mile real estate projects across Tier-1 cities in India".
This AIF with a target size of Rs 2,000 crore will be used to provide capital to tier-I developers in key markets, the company said in a statement.
Real estate sector is facing multi-year slowdown, especially in housing segment, and developers are cash-starved following liquidity crisis in non-banking finance companies, which have been a major sources of funding for builders in the last few years.
"The market today presents many opportunities for last-mile finance across projects that require a minimum amount of gap funding for completion," the statement said.
Piramal Group is engaged in primary development as well as wholesale funding in real estate. It also has a fiduciary fund management business across multiple funds and mandates across structured, preferred and pure equity.
IIFL Wealth is one of the leading wealth managers in the country, with aggregate assets of around Rs 1,70,000 crore under management, advice and distribution. It has more than 950 employees and presence in 6 major global financial hubs and 23 locations in India.
"The creation of this AIF is in line with Piramal Group's strategy to build newer platforms for co-lending with liked-minded reputed institutions. We will initially seed the fund with existing loans from Piramal Group's portfolio, while continuing to explore quality deals from the market in future," said Khushru Jijina, Managing Director, Piramal Capital &amp; Housing Finance Ltd.
With this, Piramal will also be facilitating external capital (on a fund or co-investment basis) alongside its lending business. This will enable Piramal Group to continue to further grow the lending business through a new co-investment/co-origination model.
Karan Bhagat, Founder, MD &amp; CEO, IIFL Wealth Management said: "Piramal's deep domain expertise in real estate and IIFL Wealth's ability to seize the best market opportunities have resulted in well-structured investment idea which will provide clients an ideal risk-adjusted return".
IIFL Asset Management has raised a cumulative AUM (asset under management) of around Rs 7,000 crore across 8 real estate funds, till date. Of which, it has fully exited first two funds, generating gross IRRs (internal rate of returns) of 18-22 per cent.
Piramal group, led by Ajay Piramal, has presence in industries such as healthcare, financial services, healthcare information management, glass packaging and real estate. Valued at around USD 7.3 billion, with operations in 30 countries and brand presence in over 100 markets, the group's turnover is USD 2.2 billion in FY2019. MJH BAL

Piramal grp, IIFL Wealth Management create Rs 2,000 cr fund for realty projects

<ul><li>From Kotak Mahindra and State Bank of India to ICICI Bank and Interglobe Aviation— these are the top stocks to buy, according to IIFL Securities.</li><li>IIFL Securities analysed all the risk factors and recommends this portfolio for ‘aggressive’ risk appetite investors</li><li>An aggressive appetite investor has a higher risk tolerance and is willing to put more money at stake for the possibility of better returns. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>In this current market scenario, you can already be considered an ‘aggressive’ risk appetite investor if you are actively investing in the stock market and not mutual funds. And if you have the hunger and thrill for more, here’s a list of recommendations from a leading financial services firm, IIFL. An investor with an ‘aggressive’ risk appetite has a higher risk tolerance and is willing to put more money at stake for the possibility of better returns. Here’s the list of top stocks that make it to the model portfolio for ‘aggressive’ risk appetite investors, according to the IIFL Securities report. Aggressive portfolio targets above market returns using high beta and midcap ideas. IIFL recommends that equity investors with high risk appetite opt for a stock specific approach while investing during this uncertain macroeconomic environment. August 2020: Model Portfolio - Direct Equity <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stocks </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aggressive Portfolio Allocation (%) </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YTD Growth (%) </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-20.17% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-42.82% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Crompton Greaves Consumer Electricals </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.69% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-33.50% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Exide Industries </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-13.20% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL Ltd </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-17.90% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Persistent Systems </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">49.08% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kansai Nerolac </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-12.59% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.55% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-18.05% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Interglobe Aviation </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-29.51% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quess Corp Ltd </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-23.64% </td></tr></tbody></table>Source: IIFL Securities SEE ALSO: <a href="https://www.businessinsider.in/india/news/images-of-the-air-india-express-plane-crash-in-kerala/slidelist/77426706.cms" data-type="tilCustomLink">Vodafone Idea losses widen to ₹25,460 crore – over 75% of it is money set aside for AGR dues</a> <a href="https://www.businessinsider.in/defense/news/indian-and-chinese-army-hold-fresh-talks-to-discuss-disengagement-in-depsang-plains/articleshow/77429067.cms" data-type="tilCustomLink">Indian and Chinese army hold fresh talks to discuss disengagement in Depsang plains</a>

If you have a high risk tolerance — here are a few ‘aggressive’ investment bets to consider

New Delhi, Mar 30 () Shares of Shriram Transport Finance Company Limited (STFC) on Monday plunged 16 per cent after Fitch Ratings downgraded long-term issuer default ratings of the NBFC alongwith two others on increasing macro-economic challenges following the coronavirus pandemic. These non-banking financial companies are Shriram Transport Finance Company Limited (STFC), Muthoot Finance Limited (MFL) and India Infoline Finance Limited (IIFL). Scrip of Shriram Transport declined 15.92 per cent to close at Rs 609.10 on the BSE. During the day, it dropped 17.73 per cent to Rs 596. Muthoot Finance fell by 1.01 per cent to close the trade at Rs 612 after falling 4.73 per cent to Rs 589 in intra-day. The long-term issuer default ratings (IDRs) of STFC and MFL have been downgraded to BB from BB+, while that of IIFL to B+ from BB+. "The rating actions reflect increasing macro-economic challenges for the Indian non-bank financial institution (NBFI) sector. These include the growing effects from measures to contain the COVID-19 pandemic, which will compound the tightening in funding conditions for NBFIs in recent weeks," it added. The RBI's recent liquidity and regulatory support measures should help to improve the funding environment in near-term, but it also underlines the severity of the situation and Fitch sees continued uncertainty in the coming months nonetheless, the global ratings agency said. Meanwhile, the broader market also depicted a weak trend as the BSE benchmark tumbled 1,375.27 points to close at 28,440.32. SUM SHWSHW

Shriram Transport shares tank 16 pc after ratings downgrade '

<ul><li>At 7:55 am, the SGX Nifty was up 0.35% at 8.71 points pointing towards a tepid start for Nifty50.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in green on Monday, on the back of positive cues from the Asian peers. At 7:55 am, the SGX Nifty was up 0.35% at 8.71 points pointing towards a higher start for Nifty50. These are the stocks to watch out for during the trading session today: Indiabulls Housing Finance Indiabulls Housing Finance reported a 65.5% drop in its net profit to ₹272.5 crore for the quarter ended June. The company said it expects its loan book to start growing from here on, as it believes the phase of reduction in loan book and AUM (assets under management) is over. The shares of Indiabulls Housing Finance ended nearly a percent lower on Friday. Mindspace Business Parks REIT Public unit holder of the Mindspace Business Parks, BREP Asian SG Pear Holding created an encumbrance of 5.43 crore units amounting to a 9.16% stake in favour of certain overseas financial institutions availed for a credit facility availed by the trust. “The volume-weighted average price of the Units over which the Encumbrance was created was ₹300.63 as on August 18, 2020,” the company said in a release to the stock-exchanges. The shares of Mindspace Business Parks REIT ended 2% higher on Friday. Tata Power Tata Power announced that the Mumbai bench of the National Company Law Tribunal (NCLT) approved the withdrawal of the scheme of arrangement between the Company, Tata Power Renewable Energy, Supa Windfarm, Nivade Windfarm, Tata Power Green Energy and their respective shareholders and creditors. The shares of Tata Power ended nearly a percent higher on Friday. Dixon Technologies The Board of Dixon Technologies at a meeting held on August 22, has approved raising of funds up to an aggregate amount not exceeding ₹200 crores by way of issuance of any instrument or security, including equity shares, fully / partly convertible debentures, non-convertible debentures, foreign currency convertible bonds, warrants, or any combination thereof, in one or more tranches. The shares of Dixon Tech ended nearly a percent higher on Friday. Reliance Industries RIL concludes amalgamation and merger amongst its wholly-owned subsidiaries Reliance Holdings USA into Reliance Energy Generation and Distribution. Merger entity Reliance Energy and Distribution has further merged into RIL. The shares of RIL ended nearly a percent lower on Friday. IIFL Finance Limited The board of Finance Committee of IIFL Finance Limited will meet on August 26, to consider and approve the offer document and other terms and conditions of the issue and allotment of Non-Convertible Debentures on private placement basis. The shares of IIFL Finance Limited ended 2% lower on Friday. Future Enterprises The board was expected to discuss the merger of three group companies- Future Lifestyle, Future Supply Chain, and Future Retail- in a meeting on Saturday. However, the company announced that it had postponed its board meeting to be held on August 22, by a week to August 28. The shares of Future Enterprises ended 5% higher on Friday. Future Retail Also watch out for Future Retail in trade today. It faces a debt repayment deadline after missing an interest payment of $14 million in July. The 30-day grace period also ended on August 22. The shares of Future Retail ended nearly 4% lower on Friday Rossari Biotech Rossari recorded 14.3% fall in revenue to ₹109.4 crore, but its net profit grew 7.4% to ₹15.2 crore as the cost of goods consumed in the making of its products fell by nearly a third. The input cost was the biggest saving in the latest earnings report. The shares of Rossari Biotech ended 4% higher on Friday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/ril-airtel-and-futures-expiry-will-put-pressure-on-nifty-this-week/articleshow/77705972.cms" data-type="tilCustomLink">RIL, Airtel and futures expiry will put pressure on Nifty this week</a> <a href="https://www.businessinsider.in/stock-market/news/stock-investors-are-the-most-bullish-theyve-been-in-15-years-one-measure-shows/articleshow/77705715.cms" data-type="tilCustomLink">Stock investors are the most bullish they've been in 15 years, one measure shows</a>

Top stocks to watch on Monday— Indiabulls Housing Finance, Future Enterprises, RIL, Tata Power, Dixon Tech, Rossari Biotech and more

<ul><li>From SBI Life and <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> to <keyword id="6362804" type="DOMAIN" weightage="20" keywordseo="cadila">Cadila</keyword> and Emami— these are the top stocks to buy, according to IIFL Securities. </li><li>Here’s the list of top stocks that qualify for ‘moderate’ risk appetite investors. </li><li>A ‘moderate’ risk investor is one who accepts certain risks but follows a balanced approach with an intermediate time horizon. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Investing in stock markets is a serious business. And the key to successful investing is diversification and risk management. A moderate risk investor adopts a balanced approach between an aggressive and conservative investor— one who is willing to take modest risks to seek higher long-term returns. IIFL Securities after analysing all the risk factors, recommends these stocks for ‘moderate’ risk appetite investors. The ‘moderate’ portfolio uses a multi-cap approach to reduce volatility. August 2020: Model Portfolio - Direct Equity <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stocks </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">‘Moderate’ Portfolio Allocation (%) </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YTD Growth (%) </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.55% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-18.05% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30.16% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Asset Management Company </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-25.96% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kajaria Ceramics </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-22.32% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Lombard General </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.15% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cadila Healthcare </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53.70% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-42.82% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.86% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashok Leyland </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-38.80% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ACC </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.39% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emami </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-16.54% </td></tr></tbody></table> Source: IIFL Securities SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-cfo-says-lateral-hiring-will-take-time-and-only-after-utilisation-improves-to-pre-covid-levels/articleshow/77440879.cms">Tech Mahindra CFO says lateral hiring will take time — and only after utilisation improves to pre-COVID levels</a> <a href="https://www.businessinsider.in/business/startups/news/how-karan-bajaj-sold-his-less-than-18-month-old-startup-white-hat-jr-to-byjus/articleshow/77415329.cms">A WhatsApp message, six weeks of talks and a $300 million deal – how Karan Bajaj sold his less than 18-month old startup White Hat Jr to Byju’s</a>

Here’s a model stock portfolio for the ‘moderate’ risk-taker

Mumbai, Jun 11 () Financial services group IIFL on Wednesday said it has launched an initiative to support fintech startups that are facing funding and growth challenges due to the COVID-19 pandemic. The initiative, named #IIFLDisrupt, will help fintech startups by providing funds, becoming their first client and giving access to mentors. "COVID-19 has disrupted the whole world. The post-COVID world will see revolutionary fintech disruptions. We are keen to partner, invest, collaborate with fintech startups passionate to disrupt and change the world of finance," IIFL Group chairman and founder Nirmal Jain said in a release. "We are looking out for fintech startups that can disrupt the existing chain, digitise the process, increase productivity, and boost various aspects of the business," he said. Under the initiative, accelerators and incubators across the country are also invited to collaborate for providing assistance to fintech startups. The Group had raised two seed venture funds of about Rs 1,000 crore each in the last five years and made multiple investments in startups including food delivery services firm Box8, conversational artificial intelligence (AI) startup Uniphore, digital lending platform NeoGrowth and online fashion marketplace Fynd. HV MR MR

IIFL to support fintech startups amid COVID-19 crisis

<ul><li>At 7:49 am the SGX Nifty was trading 0.68% higher pointing towards a muted start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amid the weak cues from the global market, the sell-off in the Indian stock market is likely to continue. Meanwhile, at 7:49 am the SGX Nifty was trading 0.68% higher. US stocks fell for the third consecutive session on Monday in a row amid the fear of the second lockdown in Europe and the rising uncertainty on negotiations with the next round of fiscal stimulus in the US. The Dow Jones Industrial Average tanked 509.72 points, and the S&amp;P 500 lost 1.16% towards the end of trading Asian markets also opened on a weak note. Hong Kong’s Hang Seng Index was trading 185 points lower, and the Shanghai Composite Index was down nearly 1% at 8:05 am. These are the stocks to watch out for during the trading session on September 22: State Bank of India The country’s largest lender State Bank of India on Monday said it had raised ₹7,000 crores by issuing Basel III compliant bonds. “The Committee of Directors for Capital Raising at its meeting of held today on September 21, 2020, accorded its approval to allot 70,000 Basel III compliant non-convertible, taxable, redeemable...debt instruments in the nature of debentures aggregating to ₹7,000 crore, to bond subscribers,” SBI said in a regulatory filing to stock exchanges. The shares of SBI ended 4% lower yesterday. HSIL Limited The board of directors of HSIL in a meeting held yesterday approved the proposal for buyback of fully paid-up equity shares of the face value of ₹2 each from the open market, amounting to ₹70 crore. The shares of HSIL Limited ended 1% lower yesterday. Bombay Burmah Trading The Wadia group-owned, Bombay Burmah Trading told investors that its board would meet on September 24, to consider the proposal of raising up to ₹75 crore via non-convertible debentures. The company in a stock exchange filing said it aims to use that money for a private placement basis. The shares of Bombay Burmah Trading ended 2% lower yesterday. GMM Pfaudler GMM Pfaudler said the company's promoter would sell 25.71 lakh shares via offer for sale at a floor price set at ₹3,500 per share on September 22 and 23. The shares of GMM Pfaudler ended 3% lower yesterday. Muthoot Finance, Manappuram Finance, IIFL Finance Fitch Ratings took rating action on the long-term issuer default ratings of four non-bank financial companies. For Manappuram Finance rating has been affirmed at ‘BB-’ and ‘Rating Watch Negative’ (RWN) has been removed. Whereas Muthoot Finance’s rating has also been affirmed at ‘BB’, but RWN has been removed. The shares of Muthoot Finance, Manappuram Finance and IIFL Finance ended 6%, 4% and 5% lower yesterday, respectively. Route Mobile The recently debuted Route Mobile received a stellar response from investors. The company dominated the bulk deals on Monday. Goldman Sachs acquired 24.09 lakh shares at the debut for ₹705.95 per share, and Kuwait Investment Authority acquired 5.79 lakh shares at ₹697.25 per share. The shares of Route Mobile ended 8% lower yesterday. IPO watch: CAMS, Angel Broking and Chemcon Speciality Chemicals CAMS and Chemcon Speciality Chemicals were subscribed 0.82 times and 5.20 times respectively yesterday. Today is the day two for CAMS and Chemcon investors to invest in the IPO. Angel Broking IPO will open today for subscription and will remain open until September 24. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms" data-type="tilCustomLink">INTERVIEW: Angel Broking CEO believes the ₹600 crore IPO will ride the ‘digital’ euphoria</a> <a href="https://www.businessinsider.in/business/corporates/news/chemcon-speciality-chemicals-318-crore-ipo-heres-what-works-and-what-doesnt/articleshow/78231465.cms" data-type="tilCustomLink">Chemcon Speciality Chemicals ₹318 crore IPO fully subscribed within two hours — Here’s what works and what doesn't</a>

Top stocks to watch— State Bank of India, GMM Pfaudler, HSIL, Route Mobile, Muthoot Finance, Manappuram Finance, CAMS, Chemcon and others

<ul><li>At 7:45 am, the SGX Nifty was up 0.15%, indicating a higher start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start lower on Thursday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was up 0.15%, indicating a higher start for Nifty50. The<a href="https://www.businessinsider.in/stock-market/news/us-stocks-climb-higher-in-first-trading-session-of-2021/articleshow/80100896.cms">US stocks declined in the first trading</a> session of 2021 on Monday as investors weighed another spike in virus cases. The Dow Jones Industrial Average closed 382 points lower, and the S&amp;P 500 was down 1.48%. These are the stocks to watch out for during the trading session today: HDFC Mortgage lender HDFC said its disbursements in the individual loan category have grown by 26% during the third quarter ended December 2020. Tech Mahindra Reports indicate that Tech Mahindra may partner Reliance Jio to provide 5G solutions to the world. Tech Mahindra <a href="https://www.business-standard.com/article/companies/tech-mahindra-may-partner-reliance-jio-to-provide-5g-solutions-to-world-121010401357_1.html">said it does not see </a>Jio as competition but rather as an ‘expansion of the industry’ through partnership. Larsen &amp; Toubro (L&amp;T) L&amp;T’s subsidiary has bagged an order worth over ₹7,000 crore from HPCL Rajasthan Refinery, a joint venture between Hindustan Petroleum Corporation (HPCL) and Government of Rajasthan, for setting up a dual feed cracker unit. Bajaj Finance In a stock exchange filing, Bajaj Finance informed its investors that the company added 6 million new loans in the third quarter-ended December 31 as compared to 7.7 million in the same period a year ago. The total deposits of the non-banking financial company (NBFC) rose by 17% to ₹23,800 crore in Q3 (year-on-year). Sun Pharma Sun Pharma has initiated phase two clinical trial for a product being developed to treat patients with moderate to severe plaque psoriasis. The study includes 240 subjects and results are expected in 2022. KNR Construction KNR Construction has bagged orders worth ₹603.63 crore from Project Director, Highways (FAC), Chennai Kanyakumari Industrial Corridor Project. The project will be completed within 39 months from the appointed date. Jindal Saw The board of directors of Jindal Saw will be meeting on January 11 to consider the proposal for issuance of non-convertible debentures (NCD) on private placement basis. IIFL Securities A wholly-owned subsidiary of IIFL Securities, IIFL Insurance Brokers has received insurance regulator’s permission for undertaking insurance e-commerce activities in India through Insurance Self Networking Platform. National Fertilizers National Fertilizers has achieved its highest ever production of 9.99 lakh MT urea in the third quarter ended December 31. The plants at Nangal and Panipat achieved their best production during October-December 2020. Edelweiss Financial Services Edelweiss Financial Services raised over ₹240 crore through the issuance of non-convertible debentures (NCDs). SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/reliance-says-it-has-absolutely-no-plan-to-enter-contract-farming-urges-government-to-stop-vandalism-amidst-ongoing-farmers-protests/articleshow/80091733.cms" data-type="tilCustomLink">Reliance says it has 'absolutely no plan' to enter contract farming — urges government to stop vandalism amidst ongoing farmers' protests</a> <a href="https://www.businessinsider.in/stock-market/news/big-money-chasing-bitcoin-takes-the-cryptocurrency-to-a-new-record-high-of-34000/articleshow/80090730.cms" data-type="tilCustomLink">Big money chasing Bitcoin takes the cryptocurrency to a new record high of $34,000</a>

Top stocks to watch — HDFC, Tech Mahindra, L&T, Bajaj Finance, IIFL Securities, Sun Pharma, and others

New Delhi, Online food delivery platform <keyword id="6358977" type="General" weightage="20" keywordseo="Swiggy" source="Orion">Swiggy</keyword> on Tuesday said it has facilitated over Rs 450 crore in loan disbursal to more than 8,000 restaurant owners as part of its capital assist programme. Launched in 2017, the capital assist programme is a first-in-the-segment solution designed to bridge the financing gap and empower restaurant owners. Over 8,000 restaurants have availed loans so far, of which 3,000 availed loans in 2022 alone, the company said in a statement. Partnering with multiple lending partners, including Indifi, Incred, FT Cash, PayU Finance, and IIFL, Swiggy offers tailored financial solutions like term loans and credit lines. "The NBFCs will soon facilitate more exciting solutions like pre-approved loans to enable our partners to gain easier and quicker access to capital, driving even more growth for their businesses," said Swapnil Bajpai, VP-Supply, Swiggy. From quick sign-ups to even quicker approvals, through capital assist programme, the NBFCs take a fast, easy, and efficient approach to provide funds for restaurant partner's business needs. "We have done three rounds of financing so far and have used these funds for our working capital requirements. The entire process from the application to receiving funds is incredibly quick, efficient, and transparent," said Aarti and Sumit Rastogi, owners of ARTINCI -- Indulge Guilt Free! in Bengaluru.

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