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New Delhi, Feb 24 () Aditya Birla Capital on Monday said it has received a foreign investment of Rs 1,000 crore from Jomei Investments Ltd in lieu of preferential allotment of shares. The Department of Economic Affairs (DEA), vide its letter dated February 21, has communicated its approval to the company for foreign investment by Jomei for the purpose of subscription to the preferential issue of the company, Aditya Birla Capital said in a regulatory filing on Monday. It said the company is proposed to allot 10 crore equity shares at a price of Rs 100 apiece for an aggregate consideration of Rs 1,000 crore to Jomei. "With such approval being received, we confirm that all regulatory approvals in relation to preferential allotment of equity shares to Jomei have now been received and, thus, allotment of equity shares to Jomei is proposed to be completed within 15 days from the date of receipt of DEA approval," it said. Shares of the company closed at Rs 87.15 apiece on the BSE, down 3.27 per cent from the previous close. KPM HRS

Aditya Birla Capital gets Rs 1,000 cr foreign investment from Jomei

New Delhi, Jan 31 () Aditya Birla Capital on Friday reported a rise of 17 per cent in its consolidated net profit at Rs 250 crore for third quarter ended December 31, 2019.
 It had posted a net profit of Rs 214 crore during the corresponding October-December period of the previous fiscal year.
 Income of the company grew by 13 per cent to Rs 4,645 crore during the quarter under review of 2019-20, from Rs 4,118 crore in year ago period, Aditya Birla Capital (ABCL) said in a release.
 "Considering the current business environment, the company continues to follow a disciplined approach in terms of balancing growth with a strong focus on the quality of business," it said.
 The company which is engaged in housing finance, insurance (life and non-life) business, said it will continue to have strong focus on quality and reduced ticket sizes across the board.
 Overall lending book (NBFC and housing finance) was at Rs 60,123 crore at end of December 2019.
 Total average assets under management (AAUM) at company's mutual fund was Rs 2,65,475 crore by the end of third fiscal of 2019-20, it said.
 Shares of ABCL closed 0.9 per cent down at Rs 99.15 on BSE. KPM DRR

Aditya Birla Capital Q3 net up 17 pc at Rs 250 cr

Mumbai, Jan 31 () Aditya Birla Capital, the holding company of the financial services verticals of the AV Birla Group, on Friday reported a 17 per cent growth in consolidated net income to Rs 250 crore for the December quarter.
 Its consolidated revenue rose 13 per cent to Rs 4,645 crore, the company said.
 It added that the overall lending book (NBFC and housing finance combined) stood at Rs 60,123 crore at the end of the quarter. The NBFC loan book rose to Rs 47,933 crore, led by a steep 30 per cent growth in the retail book. The bottomline was boosted by a 41-basis point expansion in the net interest margin to 5.24 per cent.
 The housing finance loan book grew 13 per cent to Rs 12,190 crore, maintaining a net interest margin to 3 per cent, the company said. 
 The cost-to-income ratio improved to 49 from 58 in the previous year, led by scale and operating efficiencies, helping post better bottomline.
 The affordable loan book has grown significantly with 1.8 times growth, helping its quarterly profit of the vertical clip at 31 per cent to Rs 27 crore.
 The insurance arms (life and health) saw gross premium grow 18 per cent to Rs 2,366 crore, led by a 14 per cent growth in individual first year premium, helping double the net value of new business to 10.4 per cent from 5.2 per cent.
 The health insurance business saw gross written premium jumping 73 per cent to Rs 547 crore. 
 The asset management company business reported an average assets under management (AAUM) of Rs 2,65,475 crore, of which domestic equity AAUM grew 6 per cent, contributing 37 per cent of the overall domestic AAUM.
 The vertical clocked a quarterly profit of Rs 130 crore, up 19 per cent. BEN HRS

Aditya Birla Capital net income rises 17 pc to Rs 250 cr

As many as seven brokerage houses and investment firms have given a "buy" call for <keyword id="6391710" type="General" weightage="100" keywordseo="aditya-birla-capital" source="Orion">Aditya Birla Capital</keyword> shares as the financial services provider recently reported a healthy earnings in Q4 and for the entire fiscal. They are Motilal Oswal, <keyword id="48085" type="General" weightage="80" keywordseo="credit-suisse" source="Orion">Credit Suisse</keyword>, <keyword id="103838" type="General" weightage="50" keywordseo="hdfc-securities" source="Orion">HDFC Securities</keyword>, ICICI Securities, <keyword id="14017217" type="General" weightage="50" keywordseo="investes" source="Orion">Investes</keyword>, and <keyword id="48670" type="General" weightage="50" keywordseo="morgan-stanley" source="Orion">Morgan Stanley</keyword>, and their target price falls in the range of Rs 130 to Rs 169. ICICI Securities pegged the highest at Rs 169, whereas Credit Suisse the lowest at Rs 130. It posted a rise of 20 per cent in its consolidated profit after tax at Rs 450 crore Q4, whereas the consolidated revenue rose 18 per cent year on year to Rs 6,962 crore. For the entire financial year FY22, the consolidated revenue rose 16 per cent to Rs 23,633 crore, whereas profit after tax rose 51 per cent to Rs 1,706 crore, which is reportedly the highest ever recorded by the company. "With the worst on asset quality behind it, the coming years will see an uptick in its growth and margin profile, lower credit costs, and better return ratios," Motilal Oswal said, adding that the asset management business is likely to churn out better profitability, driven by an improvement in revenue as well as cost rationalization. Further, brokerage house ICICI Securities believes that franchise investment, cross-sell or up-sell and leveraging digital and analytics will likely help the company boost its RoE (return on equity) profile. Looking at the FY22 performance, Investec opined that the company has mitigated Covid-19 impact and is well positioned to deliver strong earnings growth over next three years.

Seven brokerage and investment firms give 'buy' call for Aditya Birla Capital since it reported healthy earnings in fiscal year

<ul><li>Between 2017-end and March 2020, the SMID indices were down more than 40% relative to the equity benchmark Sensex.</li><li>Morgan Stanley now believes that SMID stocks are now all set to rally on the back of a growth recovery and attractive valuations.</li><li>Aditya Birla Capital, CG Consumer, JustDial and Prestige Estates are some of the stocks that Morgan Stanley is overweight on. </li></ul>Morgan Stanley’s Ridham Desai is bullish on small and mid-cap stocks. In a recent note, he said that after 30 months of struggle, Indian mid and small-cap stocks are poised for outperformance on the back of growth recovery and attractive valuations. The Morgan Stanley report dated August 18 said the small and mid-cap (SMID) stocks went into a prolonged phase of underperformance after peaking in early January 2018. Between the end of 2017 and March 2020, the SMID indices were down more than 40% relative to the equity benchmark Sensex due to various reasons such as growth deceleration and relative valuations. “The COVID-19 related lockdown did not help matters but has marked a floor on the cohort’s relative performance as a forward-looking stock market is possibly anticipating better growth. With monetary aggregates normalizing and significant policy action underway with a corporate tax cut last September, we think growth is set to turn,” the report said. Here’s the list of stocks that Morgan Stanley is betting on: <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;">YTD Gain % </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;">Aditya Birla Capital </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% </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;">Amara Raja Batteries </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% </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;">Apollo Hospitals </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% </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;">Bharat Electronics </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;">11% </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;">CG Consumer </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></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></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;">Gujarat Gas </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;">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;">Gujarat State Petronet </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></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;">Indraprastha Gas </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;">-4% </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;">Jindal Steel &amp; Power </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;">39.40% </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;">Jubilant FoodWorks </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% </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;">Just Dial </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;">-31% </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;">Mahindra &amp; Mahindra Financial Services </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;">-31% </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;">MphasiS </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% </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;">Multi Commodity Exchange 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;">46% </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;">Narayana Hrudayalaya </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% </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;">PNB Housing 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;">35% </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;">Prestige Estates Projects </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% </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;">Shriram City Union 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;">30% </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;">Shriram Transport Finance Co </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;">40% </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;">Sobha Developers </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;">35% </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;">Tata Power Co </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></tr></tbody></table>Source: Morgan Stanley report dated August 18 Morgan Stanley notes that smaller firms are likely to benefit more due to their operating and financial leverage. SMID valuations are looking attractive relative to GDP and money supply, setting the stage for outperformance versus large-cap stocks in the coming months. They are overweight on 22 stocks in the small and mid-cap universe, with a market cap of around US$3.5 billion. Morgan Stanley has also sounded a word of caution on three factors that pose major risks to the outperformance of broader markets — COVID-19 pandemic, lack of structural reforms, and the risk in the financial system. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/ruchi-soya-shares-muthoot-finance-shares-irctc-shares-hal-shares-tata-power-shares-yes-bank-shares-top-stock-movers-on-dalal-street/articleshow/77647940.cms" data-type="tilCustomLink">Top stock movers on Dalal Street today —Ruchi Soya, Muthoot Finance, IRCTC, HAL, Tata Power, Yes Bank and more</a> <a href="https://www.businessinsider.in/business/auto/news/kia-sonet-suv-pre-booking-starts-today-checkout-price-images-specifications-and-other-details/articleshow/77649221.cms" data-type="tilCustomLink">Kia Sonet pre-booking starts today— Here’s all you need to know about price, features and other details</a>

These are small and mid-cap stocks that Morgan Stanley’s Ridham Desai is betting on

Government-owned and listed insurer, the <keyword id="47873" type="General" weightage="100" keywordseo="new-india" source="Orion">New India</keyword> Assurance Company Ltd closed FY22 with a net profit of Rs 164.27 crore, down from Rs 1,604.69 crore logged during FY21. The company's solvency margin also dropped to 1.66 times at the end of FY22 from 2.13 times at the end of FY21. During the year under review, The New <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> had logged a gross premium of Rs 36,834.61 crore as against Rs 33,046.41 crore earned in FY21. While all other lines of business showed operating profit - including the motor - the company's profit was drawn down by the huge operating loss in the health insurance segment. Last fiscal, the operating loss under the health insurance segment was Rs 4,843.93 crore, against Rs 1,459.97 crore posted during FY21. Incidentally last year, the company's crop insurance business made an operating profit of Rs 214.82 crore, up from a loss of Rs 296.08 crore in FY21. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indias-financial-capital-added-3-out-of-4-new-jobs-for-undergraduates-between-october-and-march/articleshow/91767696.cms">India’s financial capital added 3 out of 4 new jobs for undergraduates between October and March</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/seven-brokerage-and-investment-firms-give-buy-call-for-aditya-birla-capital-since-it-reported-healthy-earnings-in-fiscal-year/articleshow/91766684.cms">Seven brokerage and investment firms give 'buy' call for Aditya Birla Capital since it reported healthy earnings in fiscal year</a>

New India Assurance net profit drawn down by huge operating loss in the health insurance segment

<ul><li>The SGX Nifty was trading 0.81% lower at 7:55 am, indicating a negative 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>Even amid positive cues from the global markets, the Indian equities are likely to open in the red on Thursday. The SGX Nifty was trading 0.81% lower at 7:55 am, indicating a negative start for Nifty50. However, the US stock markets also soared on Wednesday, as investors shrug off the undecided election. The Dow Jones Industrial Average closed 368 points higher, and the S&amp;P 500 gained 2.2%. These are the stocks to watch out for during the trading session on November 5: PVR and Inox Leisure PVR and Inox Leisure stocks will be in focus during the trade today after <a href="https://www.businessinsider.in/india/news/maharashtra-government-allows-reopening-of-cinema-halls-with-50-capacity-from-november-5/articleshow/79041693.cms?upcache=2">the Maharashtra Government has now allowed cinema halls</a> to open in areas outside containment zones with 50% of their seating capacity from today. The shares of PVR and Inox Leisure ended 1% and 2% higher on Wednesday, respectively. HPCL The board of the Hindustan Petroleum (HPCL) approved a ₹2,500 crore share buyback plan as the company management feels the share price is lower than the value it deserves. In a stock exchange filing, HPCL said it would buy back up to 10 crore shares for no more than ₹250/share. The net profit of the company also nearly doubled in the second quarter led by a surge in refining margins and inventory gains. The net profit in July-September stood at ₹2,477 crore as compared to ₹1,052 crore in a year-ago period. The shares of HPCL ended 0.83% higher on Wednesday, SBI Cards SBI Cards and Payment Services (SBI Card) has launched credit cards in partnership with the digital payment platform Paytm. Available in two variants, Paytm SBI Card and Paytm SBI Card SELECT, the product has been launched on the Visa platform. The shares of SBI Cards ended 0.53% higher on Wednesday, JK Lakshmi JK Lakshmi Cement reported an 86.90% rise in consolidated net profit to ₹92.93 crore for the second quarter ended September 30, helped by cost reduction. The revenue from operations rose 11.79% to ₹1,131.74 crore during the quarter under review. The shares of JK Lakshmi ended 4% higher on Wednesday, Jubilant Life Sciences The board of Jubilant Life Sciences approved raising up to ₹100 crore via non-convertible debentures (NCD). The shares of Jubilant Life Sciences ended 2% higher on Wednesday, Pidilite Industries Fevicol maker Pidilite Industries reported a 9.66% increase in consolidated net profit to ₹356.44 crore for the quarter ended September 30. The company’s revenue from operations rose 4.08% at ₹1,880.33 crore during the quarter under review. The shares of Pidilite Industries ended 0.36% lower on Wednesday, Aditya Birla Capital, Adani Power, Berger Paints India and Emami Aditya Birla Capital, Adani Power, Berger Paints India and Emami are slated to report their second-quarter earnings today. SEE ALSO:<a href="https://www.businessinsider.in/politics/world/news/here-are-trump-and-bidens-paths-to-victory-based-on-where-the-election-currently-stands/articleshow/79044299.cms" data-type="tilCustomLink"> How Trump and Biden can win based on where the election stands now</a> <a href="https://www.businessinsider.in/business/auto/news/india-may-announce-vehicle-scrappage-policy-soon-and-this-is-what-it-means-for-consumers-and-new-buyers/articleshow/79041346.cms" data-type="tilCustomLink">India is looking to bring in the vehicle scrappage policy soon — here’s what it means for you</a> <a href="https://www.businessinsider.in/finance/banks/news/sbis-profit-jumps-over-50-in-q2-plans-to-outperform-the-industry-in-credit-growth/articleshow/79039165.cms" data-type="tilCustomLink">SBI’s profit jumps over 50% in Q2 — India’s largest bank plans to outperform the industry when it comes to credit growth</a>

Top stocks to watch — PVR, Inox Leisure, SBI Cards, HPCL, Pidilite Industries, Adani Power, Berger Paints, and others

New Delhi, Nov 14 () Aditya Birla Group's flagship firm Grasim Industries on Thursday posted a consolidated net profit of Rs 1,472.77 crore for the July-September period helped by good performance of its subsidiaries UltraTech Cement and Aditya Birla Capital.
 Grasim Industries had reported a net loss of Rs 1,319.79 crore in the September quarter a year ago, Grasim Industries said in a BSE filing.
Its revenue from operation was at Rs 18,430.27 crore, up 3 per cent, during the quarter under review as against Rs 17,892.42 crore in the corresponding quarter of the previous fiscal.
"Consolidated EBITDA at Rs 3,180 crore recorded a growth of 7 per cent Y-o-Y and PAT (before exceptional items and one-time deferred tax benefit) was up by 6 per cent Y-o-Y to Rs 639 crore driven by superior performance of the company's subsidiaries, UltraTech Cement Limited and Aditya Birla Capital Limited.
Grasim Industries' total expenses were at Rs 17,069.81 crore during the period as against Rs 16,541.52 crore, up 3.19 per cent.
Its revenue from Viscose segment was at Rs 2,431.42 crore, down 6.67 per cent, to Rs 2,605.36 crore of Q2/FY 2018-19.
"The weakness in the domestic VSF realisations impacted this quarter's profitability. The benefit of falling input costs like pulp prices will get reflected in the coming quarters due to inventory time lag," said Grasim Industries.
While, its cement business UltraTech' revenue was at Rs 9,620.47 crore, up 4.01 per cent, as against Rs 9,249.26 crore.
"UltraTech completed the acquisition of Century Textiles and Industries cement business... With this acquisition, UltraTech's cement manufacturing capacity stands augmented to 117.4 million tonnes per annum (MTPA), including its overseas capacity. This makes UltraTech the 3rd largest cement company in the world, outside of China," the company said.
Revenue from Chemicals during the quarter was at Rs 1,347.30 crore, down 16.44 per cent, as against Rs 1,612.38 crore.
"Softening of Caustic Soda prices globally has led to decline in the domestic prices, resulting in lower profitability on YoY basis," said Grasim.
While its Financial Services segment revenue reported a 12.72 per cent increase at Rs 3,960.86 crore during the period from Rs 3,513.59 crore a year ago.
Revenue from others segment was at Rs 1,305.60 crore, up 13.32 per cent, as against Rs 1,152.10 crore.
On the outlook, Grasim said its VSF business will continue to focus on expanding the market in India and its chemical business is under an expansion mode for both chlor-alkali and specialty chemicals. 
On UltraTech, it said: "The company with its presence across the country is the best positioned to take advantage of the revival in cement demand, despite the anomalies that may get created in demand patterns in some parts of the country due to extraneous reasons."
"Grasim is incurring capex to increase capacities across its key business lines and is potentially well positioned to leverage the next phase of the economic growth," the company said.
 Shares of Grasim Industries Ltd on Thursday settled at Rs 734.30 apiece on the BSE, down 0.64 per cent from the previous close. KRH MKJ

Grasim Industries Q2 net profit at Rs 1,473 crore

New Delhi, Nov 28 () Aditya Birla Finance Ltd (ABFL), the NBFC arm of Aditya Birla Capital, on Thursday became the first company to list its commercial papers on the stock exchanges.
 The move comes after the exchanges -- the BSE and the NSE -- came out with a framework for listing of commercial papers (CPs), in a bid to broaden investors' participation in such securities.
 Listing of CPs is expected to lead to efficient transmission of information regarding corporate borrowings and liquidity positions to market participants, the NSE said in a statement.
 It will also contribute effectively towards development of the commercial paper market and is expected to have a positive effect on the debt capital market, it added.
 In separate statements, the exchanges said Aditya Birla Finance is the first company to list its commercial paper with value date of November 28 and maturity date on February 7, 2020.
 ABFL is a well-diversified non-banking finance company (NBFC) with a long-term credit rating of AAA (stable) from both ICRA as well as India Ratings.
 CP is an unsecured money market instrument issued in the form of promissory notes that enables highly rated corporate borrowers to diversify their sources of short-term borrowings and provides an additional instrument to investors.
 Commercial papers can be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue. CP are usually issued at a discount from face value and reflects prevailing market interest rates. SP HRS

Aditya Birla Finance becomes first company to list commercial papers on exchanges

New Delhi, Dec 30 () As many as 12 companies have filed applications with the BSE to list their commercial papers on the bourse for a total issue size of Rs 8,215 crore, the exchange said on Monday.
 The firms that have made applications are SBI Cards and Payment Services Ltd, Birla Group Holdings Pvt Ltd, National Housing Bank, Aditya Birla Capital Ltd, Larsen &amp; Toubro Ltd, SBI Cards and Payment Services Ltd, BASF India Ltd, The Ramco Cements Ltd, Aarti Industries Ltd, HT Media Ltd, GIC Housing Finance Ltd and Himadri Speciality Chemical Ltd.
 After the process, the effective date for listing of commercial papers (CPs) at the BSE is December 31, the BSE said in a release.
 "Till date, 50 issuers have done 182 issuances of commercial papers and have successfully listed CPs of Rs 70,210 crore on the BSE. The weighted average yield of these issuances is 6.42 per cent with an average tenor of 161 days," it added.
 A CP is an unsecured money market instrument issued in the form of promissory notes that enables highly rated corporate borrowers to diversify their sources of short-term borrowings and provides an additional instrument to investors.
 Such instruments can be issued for maturities between a minimum of 7 days and a maximum of one year from the date of issue.
 CPs are usually issued at a discount from face value and reflect prevailing market interest rates. SRS HRS

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