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SBI Bank - Q2 Results

SBI Bank - Q2 Results
by 5paisa Research Team 02/11/2021

For the quarter ended Sep-21, State Bank of India Ltd reported 6.05% growth in total revenues at Rs.1,01,143 crore. In terms of key verticals of SBI, the treasury and retail banking revenues were sharply higher while the revenues from wholesale banking was lower on a YoY basis. Insurance revenues were sharply higher YoY.
 

SBI Bank - Q2 Results
 

Rs in Crore

Sep-21

Sep-20

YOY

Jun-21

QOQ

Total Income (Rs cr)

₹ 1,01,143

₹ 95,374

6.05%

₹ 93,267

8.44%

Net Profit (Rs cr)

₹ 8,890

₹ 5,246

69.46%

₹ 7,380

20.46%

Diluted EPS (Rs)

₹ 9.96

₹ 5.88

 

₹ 8.27

 

Net Margins

8.79%

5.50%

 

7.91%

 


The operating profits of the SBI wholesale banking and retail banking business were sharply higher. However, operating profits from treasury and insurance were almost flat YoY. In the case of insurance, the revenue growth was offset by higher claims and provisions.

Net Interest income or NII grew 10.65% while the NIM expanded 16 bps at 3.50%. This is a smart improvement although it is still below private sector counterparts. Credit costs declined sharply by 51 bps in line with falling rates and better transmission to 0.43% even as cost to income ratio fell 106 bps to 54.10%.
For the September 2021 quarter, SBI reported PAT up 69.5% at Rs.8,890 crore.

This was largely triggered by the provisions for doubtful debts falling sharply to Rs.615 crore in Sep-21 quarter compared to Rs.11,221 crore in the Sep-20 quarter. This largely compensated for the exceptional loss that SBI had to take in the current quarter of Rs.7,418 crore on account of payment of family pensions under the bipartite agreement.

Asset quality has surely improved in the quarter with the gross NPAs down 38 bps at 4.90% while net NPAs were down 7 bps at 1.52%. On the positive side, the provision coverage ratio or PCR of the bank stood at 87.68%.

Slippages in the quarter fell sharply from 2.47% to 0.66% in the latest quarter. Quarterly ROA was a good 18 bps higher at 0.61% while the return on equity for SBI (a key metrics in valuations) or the ROE was up 423 bps at 13.17%.

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Policybazaar IPO - Subscription Day 3

Policybazaar IPO - Subscription Day 3
by 5paisa Research Team 03/11/2021

The Rs.5,625 crore IPO of PB Fintech (Policybazaar & Paisabazaar), consisting of a fresh issue of Rs.3,750 crore and an offer for sale (OFS) of Rs.1,875 crore, may have seen a slow response on Day-1 and Day-2 but Day-3 made up for all that.

As per the combined bid details put out by the BSE, PB Fintech (Policybazaar & Paisabazaar) IPO was subscribed 16.59X overall at the close of Day-3, with bulk of the demand coming from the QIBs, followed by the HNIs and retail. The issue has closed on 03rd November.


As of close of 03rd November, out of the 345.12 lakh shares on offer in the IPO, PB Fintech (Policybazaar & Paisabazaar) saw bids for 5,723.84 lakh shares. This implies an overall subscription of 16.59X. The granular break-up of subscriptions were tilted in favour of QIBs as of the end of Day-3 of the IPO, followed by the HNIs and retail. QIB bids and NII bids typically came in only on the last day of the IPO.

 

PB Fintech (Policybazaar & Paisabazaar) IPO Subscription Day-3
 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

24.89 Times

Non Institutional Investors (NII)

7.82 Times

Retail Individuals

3.31 Times

Employees

N.A.

Overall

16.59 times

 

QIB Portion

The QIB portion of the Policybazaar IPO saw 24.89X subscription at the close of Day-3. On 29 October, PB Fintech (Policybazaar & Paisabazaar) did an anchor placement of 2,62,18,079 lakh shares at the upper end of the price band of Rs.980 to 155 anchor investors raising Rs.2,569 crore.

The list of QIB investors including a number of marquee names like Goldman Sachs, Nomura, Blackrock, Morgan Stanley, Canadian Pensions, Fidelity, ADIA, ICICI Pru MF, SBI MF, Axis MF, UTI MF; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 193.30 lakh shares of which it has got bids for 4,810.23 lakh shares at close of Day-3 of the IPO. QIB bids typically get bunched on the last day, but anchor response had been robust and that was good news for the QIB response on the last day of the IPO.

HNI / NII Portion

The HNI portion was subscribed 7.82X (getting applications for 712.44 lakh shares against the quota of 91.10 lakh shares). This is a relatively strong response on Day-3 since this segment normally sees response on the last day. That is because, bulk of the funded applications and corporate applications, come in on the last day, so the actual picture normally gets clear on the last day. 

Retail Individuals

The retail portion was subscribed a robust 3.31X at the close of Day-3, showing decent retail appetite. Retail allocation for this IPO is 10% of the offer size. For retail investors; out of the 60.73 lakh shares on offer, valid bids were received for 201.18 lakh shares, which included bids for 163.57 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.940 – Rs980) and has closed for subscription on 03rd November 2021.

Also Read:-

Upcoming IPOs in 2021

Upcoming IPOs in November 2021

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Tata Power Reconsider to Merger of Solar System

by 5paisa Research Team 03/11/2021

In a rather interesting move, Tata Power has announced that it would seek shareholder approval to amend its scheme of arrangement. According to the original scheme of arrangement approved by shareholders, Tata Power had sought to merge Tata Power Solar into itself.

However, now it plans to keep its solar business as an independent subsidiary or in other words, it will restore the status quo.

Tata Power Solar Systems Limited (TPSSL) is a 100% subsidiary of Tata Power and focuses largely on the installation and operation of solar power generating plants.

In the last few months, the valuation of Tata Power has seen a sharply positive re-rating largely on the back of the performance of the TPSSL subsidiary. 
 

What explains this change in strategy?


According to Tata Power, there had been a number of government policies in recent months favourable to the solar power sector.

These include production linked incentives (PLI), imposition of basic customs duty on the import of solar modules and special incentives to manufacture highly efficient solar modules in India.

Tata Power believes that these regulatory changes would substantially enhance the value of their solar business which is currently housed under TPSSL.

Merging with Tata Power would have created confusion pockets for investors and analysts as the traditional fossil fuel business is largely regulation intensive. Thus a standalone TPSSL would be more value accretive.

According to Tata Power, this move would not impact shareholder value in any way as the accounts of TPSSL are anyways consolidated with that of Tata Power.

On the contrary, creating a separate company with a demarcated solar business would make the specific business a lot more valuable for investors in the long run due to its ring-fenced valuation.

In the original scheme of arrangement of August 2020, TPSSL and Coastal Gujarat Power Limited (CGPL) were to be merged into Tata Power. According to the modified scheme of arrangement proposed by Tata Power, only CGPL will be merged into Tata Power.

However, Tata Power Solar Systems Ltd (TPSSL) will continue to remain a 100% subsidiary of Tata Power.

Also Read:- Rally in Tata Group Stocks

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SJS Enterprises Ltd IPO - Subscription Day 3

SJS Enterprises Ltd IPO - Subscription Day 3
by 5paisa Research Team 03/11/2021

The Rs.800 crore IPO of SJS Enterprises Ltd, consisting entirely of offer for sale (OFS) of Rs.800 crore, saw a tepid response on Day-1 and Day-2. However, the issue just about got subscribed on Day-3.

As per the combined bid details put out by the BSE, SJS Enterprises Ltd IPO was subscribed 1.59X overall at the close of Day-3, with just about sufficient demand coming only from retail, QIBs and HNI segments. The issue has already closed on 03rd November.


As of close of 03rd November, out of the 105.46 lakh shares on offer in the IPO, SJS Enterprises Ltd saw bids for 167.98 lakh shares. This implies an overall subscription of 1.59X. The granular break-up of subscriptions was equally distributed across retail investors, HNIs and QIBs. QIB bids and NII bids typically came in only on the last day of the IPO.
 

SJS Enterprises Ltd IPO Subscription Day-3

 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

1.42 Times

Non Institutional Investors (NII)

2.32 Times

Retail Individuals

1.38 Times

Employees

N.A.

Overall

1.59 times

 

QIB Portion

The QIB portion of the IPO saw 1.42X subscription at the close of Day-3. On 29th October, SJS Enterprises Ltd did an anchor placement of 44,28,023 lakh shares at the upper end of the price band of Rs.542 to 18 anchor investors raising Rs.240 crore.

The list of QIB investors including a number of marquee names like Tara Emerging Asia, Societe Generale, Nomura, Goldman Sachs, Citigroup, Axis MF, Franklin Templeton MF, Aditya Birla Sun Life Insurance, Edelweiss, Avendus; among others.

The QIB portion (net of anchor allocation as explained above) has a quota of 30.13 lakh shares of which it has got bids for 42.71 lakh shares as of the close of Day-3 of the IPO. QIB bids typically get bunched on the last day, but anchor response had hinted at a much better response for the IPO.

HNI / NII Portion

The HNI portion of the SJS Enterprises IPO got subscribed 2.32X (getting applications for 52.35 lakh shares against the quota of 22.60 lakh shares). This is a decent response at the close of Day-3 and this segment normally sees response on the last day. That is because, bulk of the funded applications and corporate applications, come in on the last day. 


Retail Individuals

The retail portion was subscribed 1.38X at the close of Day-3, showing mediocre retail appetite. Retail allocation for this IPO is 35% of the offer size. For retail investors; out of the 52.73 lakh shares on offer, valid bids were received for 72.92 lakh shares, which included bids for 57.90 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.531 – Rs542) has closed for subscription on 03rd November 2021.

Also Read:-

Upcoming IPOs in November 2021

Upcoming IPOs in 2021

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Sigachi Industries Ltd IPO - Subscription Day 3

Sigachi Industries Ltd IPO - Subscription Day 3
by 5paisa Research Team 03/11/2021

The Rs.125.43 crore IPO of Sigachi Industries Ltd, consisting entirely of a fresh issue of Rs.125.43 crore, saw a strong response on Day-1 and built on that base on Day-2.

As per the combined bid details put out by the BSE at the close of Day-3, Sigachi Industries Ltd IPO was subscribed 101.91X overall, with bulk of the demand coming from the HNI segment followed by the QIB and retail segments. All the 3 segments got heavily oversubscribed by the close of Day-3 of the IPO. The issue has closed on 03rd November.


As of close of 03rd November, out of the 53.865 lakh shares on offer in the IPO, Sigachi Industries Ltd saw bids for 5,489.474 lakh shares. This implies an overall subscription of 101.91X. The granular break-up of subscriptions were tilted in favour of HNI investors with QIB and retail also participating very aggressively. QIB bids and NII bids typically come in only on the last day of the IPO.

 

Sigachi Industries Ltd IPO Subscription Day-3
 

Category

Subscription Status

Qualified Institutional Buyers (QIB)

86.51 Times

Non Institutional Investors (NII)

172.43 Times

Retail Individuals

80.49 Times

Employees

N.A.

Overall

101.91 times

 

QIB Portion

The QIB portion of the IPO saw 86.51X subscription at the close of Day-3. On 29 October, Sigachi Industries Ltd did an anchor placement of 23,08,500 lakh shares at the upper end of the price band of Rs.163 to 2 anchor investors raising Rs.37.63 crore. The 2 QIB investors that invested in the anchor placement of Sigachi Industries include 3 Sigma Global Fund and Nexus Global Opportunities Fund.

The QIB portion (net of anchor allocation as explained above) has a quota of 15.39 lakh shares of which it has got bids for 1,331.37 lakh shares as of close of Day-3 of the IPO. QIB bids typically get bunched on the last day and we saw that in this issue.


HNI / NII Portion

The HNI portion got subscribed 172.43X (getting applications for 1,990.32 lakh shares against the quota of 11.54 lakh shares). This is a very strong response as of the close of Day-3. In fact, bulk of the funded applications and corporate applications, came in on the last day of the IPO, which closed on 03-November.

Retail Individuals

The retail portion was subscribed a robust 80.49X at the close of Day-3, showing strong retail appetite. Retail allocation for this IPO is 35% of the offer size. For retail investors; out of the 26.93 lakh shares on offer, valid bids were received for 2,167.79 lakh shares, which included bids for 1,661.40 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.161 – Rs.163) and has closed for subscription on 03rd November 2021.

Also Read:-

Upcoming IPOs in November 2021

Upcoming IPOs in 2021

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How to Check Allotment Status of Nykaa IPO

How to Check the Allotment Status of Nykaa IPO
by 5paisa Research Team 08/11/2021

The Rs.5,351.92 crore IPO of FSN E-Commerce Ventures (Nykaa), consisting of Rs.630 crore fresh issue and Rs4,721.92 crore OFS, was subscribed 81.78X overall at the close of bidding on 01 November. The basis of allotment will be finalized on 08-November and the stock will list for trading on 11-November. If you have applied for the Nykaa IPO, you can check your allotment status online.

You can either check your allotment status on the BSE website or the IPO registrar, Link Intime. Here are the steps.
 

Checking the allotment status of Nykaa on BSE website


Visit the BSE link for the IPO allotment by clicking on the link below

https://www.bseindia.com/investors/appli_check.aspx

Once you reach the page, here are the steps to follow.

I) Under Issue Type – Select Equity Option.

II) Under Issue Name – Select FSN E-Commerce Ventures from the drop down box.

III) Enter the Application Number exactly as in the acknowledge slip.

IV) Enter the PAN (10-digit alphanumeric) number.

V) Once this is done, you need to click on the Captcha to verity that you are not a robot.

VI) Finally click on the Search Button.

The allotment status will be displayed on the screen in front of you informing about the number of shares of FSN E-Commerce Ventures allotted to you.
 

Check - Nykaa IPO - 7 Things to know About
 

Checking the allotment status of Nykaa on Link Intime (IPO Registrar)


Visit the Link Intime registrar website for IPO status by clicking on the link below:

https://linkintime.co.in/MIPO/Ipoallotment.html

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select FSN E-Commerce Ventures from the drop down box.

I) There are 3 options. You can either access the allotment status based on PAN, Application Number or DPID-Client ID combination.

II) Select the appropriate option you want to use and enter the details (PAN / Application Number / DPID-Client ID)

III) Finally, click on the Search button

The IPO status with number of shares of FSN E-Commerce Ventures (Nykaa) allotted will be displayed on the screen.

Also Read:-

List of Upcoming IPOs in November 2021

List of Upcoming IPOs in 2021

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