EUR 120.00 For Business Accounts Only

MOSL: Morning India (26/August/21): 1. Bajaj Finance (BAJFIN and the entire Financial Services group set to benefit from the new AMC license in the parent entity); 2. P&G Hygiene and Healthcare; 3. Muthoot Fina

Morning India (26/August/21): Morning India (26/August/21): 
Today’s top research ideaBajaj Finance: BAJFIN and the entire Financial Services group set to benefit from the new AMC license in the parent entity- Bajaj Finserv has got an in-principle approval from SEBI for sponsoring a Mutual Fund. It has inherent advantages in its business model, given its presence in the Retail Finance, Life Insurance, General Insurance, and Securities businesses. - Strong brand presence and wide distribution reach are key pillars for garnering AUM, where BAGIC, BALIC, and BAF have proved their expertise. Cross-sell to the existing customers of these businesses is a huge opportunity. - This should aid the fee and commission (particularly distribution) income of BAF, which was already exhibiting high growth until Mar'20 when COVID-19 struck. - Given the strong recovery post relaxation of the lockdowns and the healthy progress made in its digital transformation program, we reiterate our Buy rating, with a TP of INR7,700 per share (8x 1HFY24E BV).
Piping hot newsFM Nirmala Sitharaman asks banks to conduct credit outreach programme across IndiaThe finance minister Nirmala Sitharaman on Wednesday announced that she has asked state-run banks to step up lending and hold outreach programmes or loans melas across India from October to lend to desirable borrowers, in order to give momentum to the stimulus package. Sitharaman said that it was too early say that there is lack of credit demand in the economy.