Stocks in the news: Titan, NBCC, Magma Fincorp and Bharat Petroleum
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Last Updated: Feb 11, 2021, 08:03 AM IST
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Here are a few stocks which may buzz the most in today s trade. ITC, ACC, Ashok Leyland, MRF, Bayer Crop Science, Bosch, Piramal Enterprises and Petronet LNG are among the companies slated to report their Q3 earnings on Thursday.
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Nifty futures on the Singapore Exchange traded 6.00 points, or 0.04 per cent, lower at 15,065.00 in signs that Dalal Street was headed for a muted start on Thursday. Here are a few stocks which may buzz the most in today s trade:
Computer Age Management Services (CAMS) surged 5.7% to Rs 1979 after the company s consolidated net profit jumped 22% to Rs 56.42 crore in Q3 FY21 as against Rs 46.23 crore in Q3 FY20.Consolidated revenue from operations grew by 5.6% to Rs 185.95 crore in Q3 FY21 from Rs 176.03 crore in Q3 FY20. The result was announced during market hours today, 11 February 2021.
Profit before tax rose 24% to Rs 75.59 crore in Q3 FY21 compared with Rs 61 crore recorded in the same quarter last year. Total tax expense spiked 30% to Rs 19.17 crore in Q3 FY21 over Q3 FY20.
Commenting on the results, Anuj Kumar, whole time director & CEO of CAMS said, It has been a satisfactory quarter both from the perspective of Company results and the operations coming back to near normal as the pandemic led changes abated. MF AuM was on a stride with the market volatility settling down and peaked to historic highs. SIPs registrations have seen a come-back in the last quarter compared to the previous quarter point
Regulatory eye on NBFC financing of HNIs’ IPO appetite
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Top 10 finance cos raised Rs 1.8 lakh cr via CPs in last 6 months; RBI proposes funding cap to remove arbitrage, reduce systemic risks.
NBFCs have been funding high net worth individuals through short-term lending, sometimes for just five-seven days.
MUMBAI: Regulators are keeping a close eye on the deluge of shadow bank lending to individuals looking to take advantage of the boom market in initial public offers (IPOs), mindful of potential systemic risks, said people with the knowledge of the matter. RBI’s draft paper on the proposed regulatory framework for nonbanking finance companies (NBFCs) released last Friday suggested a funding cap of Rs 1 crore per individual for a shadow bank. Banks can lend Rs 10 lakh per person for IPO financing.
Read more about CAMS COO Srikanth Tanikella resigns on Business Standard. Srikanth Tanikella, the chief operations officer (COO) of Computer Age Management Services (CAMS) has resigned from the company on 22 January 2021 due to personal reasons.