 "Regulator has enough firepower to manage FCNR (B) deposit outflows, says Rajan")
Shares of non-banking finance companies (NBFC) have rallied by up to 11% on the BSE in late noon trade on the back of heavy volumes on renewed buying interest post the recent correction in their respective stock prices.
Ujjivan Financial Services, Capital First, PTC India Financial, Satin Creditcare Network, Bajaj Finance, Shriram Transport Finance, Bharat Financial Inclusion, Muthoot Finance and Mahindra & Mahindra Financial Services were up between 4% - 11% on the BSE. At 02:55 pm, the S&P BSE Sensex was up 1% or 284 points at 28,791.
Analysts at Emkay Global Financial Services believe that factors such as government focus on rural development and higher government spending, better monsoons, and an uptick in economic activity, could benefit NBFC- asset finance companies (AFCs) over the next few years.
On the regulatory front, given that NBFCs are in the transition period until FY18, we do not expect any major regulatory changes in the near term, the brokerage firm said in a report.
IndiaNivesh Research believes that the growth momentum of NBFCs like retail financial services (Bajaj Finance and Capital First) and housing finance companies (LIC housing finance, GIC Housing and DHFL) are likely to continue.
Ujjivan Financial Services, Capital First, PTC India Financial, Satin Creditcare Network, Bajaj Finance, Shriram Transport Finance, Bharat Financial Inclusion, Muthoot Finance and Mahindra & Mahindra Financial Services were up between 4% - 11% on the BSE. At 02:55 pm, the S&P BSE Sensex was up 1% or 284 points at 28,791.
Analysts at Emkay Global Financial Services believe that factors such as government focus on rural development and higher government spending, better monsoons, and an uptick in economic activity, could benefit NBFC- asset finance companies (AFCs) over the next few years.
On the regulatory front, given that NBFCs are in the transition period until FY18, we do not expect any major regulatory changes in the near term, the brokerage firm said in a report.
IndiaNivesh Research believes that the growth momentum of NBFCs like retail financial services (Bajaj Finance and Capital First) and housing finance companies (LIC housing finance, GIC Housing and DHFL) are likely to continue.
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| UJJIVAN FIN.SER. | 451.75 | 407.80 | 10.78 |
| CAPITAL FIRST | 717.70 | 671.15 | 6.94 |
| MUTHOOT FINANCE | 385.35 | 362.9 | 6.19 |
| PTC INDIA FIN | 38.75 | 36.70 | 5.59 |
| EQUITAS HOLDINGS | 187.90 | 178.40 | 5.33 |
| BAJAJ FIN. | 1124.00 | 1069.55 | 5.09 |
| BHARAT FINANCIAL | 813.00 | 776.55 | 4.69 |
| SREI INFRA. FIN. | 75.90 | 72.90 | 4.12 |
| M & M FIN. SERV. | 357.50 | 344.05 | 3.91 |
| SHRIRAM TRANS. | 1185.50 | 1141.40 | 3.86 |
