Latest Stock Market News

“We have grown in line with the industry and faster than listed peers this quarter, which also led to market share improvement from 14.6% in Q1 to 15.0% in Q2 on a pre-merger basis,” Vibha Padalkar, MD and CEO was quoted as saying in the release.

A total of 25,340 shares changed hands on the counter till time (IST).

Home First Finance Company India Ltd., incorporated in the year 2010, is a Small Cap company (having a market cap of Rs 6828.90 Crore) operating in NBFC sector.

The momentum helped the stock to hit a fresh record high of Rs 585 on September 20, 2022. The stock is now consolidating in a narrow range but trading comfortably above crucial averages.

“Legally we cannot have an election till 2024. There is something called Fixed Term Parliament Act which was passed during the coalition government 2010-2015. So even if they wanted to have an election, there is no way they can have an election right now. So the best thing is to have another prime minister who would take the party to the election deadline as it were. ”

The Nifty Realty index was trading 0.02 per cent up at 426.7.

It carries a provision of 23% on restructured loans, which is in excess of regulatory limits, it said. "Corporate segment has 26 bps of loan book under restructuring while Retail and SME segment carry restructuring of 55 bps and 2 bps respectively."

The net non-performing asset ratio at 0.51% was lower than 0.64% a quarter ago and 1.08% a year ago. The capital adequacy ratio for the private sector lender dipped to 16.52% from 17.28% a quarter ago, and 19.23% a year ago.

The company proposes to utilise the net proceeds from the fresh issue towards debt payment, funding working capital requirements, investment in its wholly-owned subsidiary Raneal Advanced Systems to fund its capital expenditure expenses and general corporate purposes.

However its "gross margin during the quarter was lower by 508 bps as compared to Q2 2021, due to continued inflationary pressures on costs, particularly on prices of barley and packaging materials," said UBL in its earning statement.