Latest news with #AvinashSingh
Mint
2 days ago
- Business
- Mint
HDB Financial Services shares to list today; Emkay Global initiates coverage with ‘Buy' call, sees 22% upside
HDB Financial Services shares will be listed in the Indian stock market today after the company's initial public offering (IPO) received strong response from investors. HDB Financial Services IPO listing date is today, 2 July 2025. Ahead of HDB Financial Services share listing today, brokerage firm Emkay Global Financial Services initiated coverage on HDB Financial Services with a bullish outlook, assigning a 'Buy' rating and a target price of ₹ 900 per share for June 2026. This implies a potential upside of 22% from the IPO issue price. Emkay's optimistic view is underpinned by HDB Financial Services' highly diversified and granular lending portfolio, with the top 20 accounts constituting just 0.34% of its assets under management (AUM). The company caters to over 19 million customers and has a wide geographical reach, operating through 1,770 branches across 31 states and union territories. The brokerage highlighted the HDB Financial Services' strategic focus on direct loan sourcing — accounting for around 82% of FY25 disbursements — and a strong presence in underserved areas, with 70% of its branches located in tier-4 towns and beyond. The company's target customer base includes low-to-mid income groups with limited or no credit history. 'HDB Financial Services has been built from the ground up, having successfully navigated multiple credit cycles including the pandemic. Its seasoned top management, most of whom have been with the company for over a decade, reflects strong execution and strategic consistency,' Avinash Singh, Senior Research Analyst at Emkay Global Financial Services said in a report. HDB Financial Services benefits from the strong parentage of HDFC Bank, which has provided not just brand visibility but also a stable source of capital and competitive borrowing costs. This backing, combined with the company's focus on profitable growth, has enabled HDB Financial Services to scale operations without raising external capital since 2017. Emkay analyst pointed out that despite shocks such as demonetisation, GST implementation, and the COVID-19 pandemic, HDBFS has consistently reported profits since 2009-10. The brokerage expects HDB Financial Services to deliver 20% AUM CAGR and 27% EPS CAGR over FY25-28, driven by its strong origination network, improving capital adequacy post-IPO, and a favourable interest rate environment. With the Reserve Bank of India (RBI) expected to implement frontloaded repo rate cuts, net interest margins (NIMs) are likely to expand, further boosting profitability. The brokerage firm projects HDB Financial Services to achieve return on assets (RoA) and return on equity (RoE) of 2.7% and 17% respectively by FY28. The company's high operating expenses, due to its direct origination model, are expected to be offset by relatively higher net yields. Emkay report also flagged a key regulatory risk. The RBI's draft circular issued in October 2024 proposes that banks and their subsidiaries must not overlap in business activities. If implemented, this may compel HDFC Bank to reduce its stake in HDB Financial Services to below 20% within a specified timeframe, potentially altering the company's strategic direction. Despite this risk, Emkay believes the strong fundamentals, stable leadership, and consistent financial performance position HDB Financial Services for a gradual re-rating in the market. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
IOL News
26-06-2025
- Business
- IOL News
Ransomware threats: How AI can help combat cybercrime
The University of Pretoria is researching cyber threats. Image: File Ransomware has emerged as one of the most devastating cyber threats, wreaking havoc on businesses, governments, and essential services worldwide, and addressing this complex problem requires adopting artificial intelligence to create better detection mechanisms. This is according to Avinash Singh, a lecturer in the Department of Computer Science at the University of Pretoria (UP), who is helping to find the solution. In 2024, a Fortune 50 company paid $75 million to ransomware attackers – the highest confirmed ransom payout in history. Ransomware attacks, once indiscriminate and opportunistic, have evolved into sophisticated, targeted campaigns. The advent of ransomware-as-a-service (RaaS) has lowered barriers to entry for attackers, enabling even novice cybercriminals to access pre-built ransomware kits and technical support. Singh explained that this dark web ecosystem operates much like legitimate software-as-a-service (SaaS) platforms like Gmail and Zoom, except its focus is on digital extortion rather than productivity. In South Africa, the Sophos State of Ransomware 2024 report revealed that the average ransom payment reached R17.9 million, with recovery costs, excluding ransom payments, averaging R19.44 million. Beyond financial costs, attacks like the breach of the National Health Laboratory Service in June 2024, where 1.2 terabytes of sensitive data were stolen, highlight the societal implications, disrupted healthcare services, loss of public trust, and potential harm to individuals whose data is compromised. This is one of many ransomware attacks targeting South African organisations. Addressing this complex problem requires adopting artificial intelligence to create better detection mechanisms. 'Artificial intelligence requires datasets that are often not available, resulting in researchers having to do exhaustive experimentation just to get the necessary data to perform detection tasks,' Singh explains. To solve this lack of data, he designed a tool called MalFE to advance malware research by facilitating the collection and analysis of ransomware samples. 'MalFE enables researchers to create machine-learning datasets more efficiently, compare malware reports, and share findings in an open, collaborative environment. By combining technical innovation with an ethos of transparency and accessibility, the platform embodies the collaborative spirit of this research.' Singh explained that the significance of this work extends beyond individual organisations to the broader societal and economic landscape. 'Cyberattacks on critical infrastructure threaten public services and economic stability, with ripple effects that disrupt entire communities.'
Time of India
20-06-2025
- Business
- Time of India
Why is the stock market rising today? Sensex gains 800 pts, Nifty tops 25,000; 4 key drivers of the rally
Nifty Bank, Financial Services, Auto, and Metal sectors led the market rally, emerging as top performers. In the broader market, the Nifty Midcap and Smallcap indices rebounded, climbing nearly 0.8% following a steep drop on Thursday. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 1. RBI Eases Norms for Project Financing 2) Fed Signals Two Rate Cuts in 2025 3. Weakening Dollar Tired of too many ads? Remove Ads 4. Return of FII Buying Indian benchmark indices Sensex and Nifty rebounded strongly on Friday, snapping a three-day losing streak, led by gains in financials after the Reserve Bank of India ( RBI ) relaxed provisioning norms for project financing. However, escalating tensions in the Middle East could limit further BSE Sensex surged up to 800 points to break above the 82,100 mark, while the Nifty50 reclaimed the 25,000 Bank, Financial Services, Auto, and Metal were among the top-performing sectors, leading the rally. In the broader market, the Nifty Midcap and Smallcap indices also rose nearly 0.8% after Thursday's sharp the market capitalisation of all listed companies on BSE surged by Rs 3.57 lakh crore to Rs 446.37 lakh RBI on Thursday released its final guidelines for project financing, replacing multiple legacy circulars and aligning norms across banks, NBFCs, and co-operative banks."In comparison with the May-2024 draft proposal of 5% standard assets provisioning for under-construction projects, the 1.0%/1.25% provisioning for Infra/CRE projects under the final regulations gives a much-needed breather to project financiers, including REC and PFC," Emkay Global 's analyst Avinash Singh provisioning norms will reduce funding costs for infrastructure and real estate projects, benefiting US Federal Reserve kept interest rates unchanged but maintained its projection of two rate cuts in 2025. While inflation expectations have risen, the central bank's signal of easing monetary policy in the medium term was viewed positively by global expectations of slower GDP growth (1.4%) and higher inflation (3%) in the US next year, the indication of rate cuts offered some relief to equity US dollar index dropped to 98.57, extending a 0.34% decline. A weaker dollar generally boosts emerging market equities like India by attracting foreign capital and supporting the bond markets, the US 10-year Treasury yield was steady at 4.389%, while the 2-year yield slipped by 2 basis points to 3.925%.Foreign institutional investors (FIIs) have turned net buyers, purchasing equities worth Rs 1,824 crore over the last two domestic institutional investors (DIIs) continued their strong buying streak for the 12th consecutive day, investing Rs 2,566 crore—providing additional support to the market.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
20-06-2025
- Business
- Economic Times
Why is the stock market rising today? Sensex gains 800 pts, Nifty tops 25,000; 4 key drivers of the rally
ADVERTISEMENT 1. RBI Eases Norms for Project Financing ADVERTISEMENT ADVERTISEMENT 2) Fed Signals Two Rate Cuts in 2025 ADVERTISEMENT 3. Weakening Dollar ADVERTISEMENT 4. Return of FII Buying Indian benchmark indices Sensex and Nifty rebounded strongly on Friday, snapping a three-day losing streak, led by gains in financials after the Reserve Bank of India ( RBI ) relaxed provisioning norms for project financing. However, escalating tensions in the Middle East could limit further BSE Sensex surged up to 800 points to break above the 82,100 mark, while the Nifty50 reclaimed the 25,000 Bank, Financial Services, Auto, and Metal were among the top-performing sectors, leading the rally. In the broader market, the Nifty Midcap and Smallcap indices also rose nearly 0.8% after Thursday's sharp the market capitalisation of all listed companies on BSE surged by Rs 3.57 lakh crore to Rs 446.37 lakh RBI on Thursday released its final guidelines for project financing, replacing multiple legacy circulars and aligning norms across banks, NBFCs, and co-operative banks."In comparison with the May-2024 draft proposal of 5% standard assets provisioning for under-construction projects, the 1.0%/1.25% provisioning for Infra/CRE projects under the final regulations gives a much-needed breather to project financiers, including REC and PFC," Emkay Global 's analyst Avinash Singh provisioning norms will reduce funding costs for infrastructure and real estate projects, benefiting US Federal Reserve kept interest rates unchanged but maintained its projection of two rate cuts in 2025. While inflation expectations have risen, the central bank's signal of easing monetary policy in the medium term was viewed positively by global expectations of slower GDP growth (1.4%) and higher inflation (3%) in the US next year, the indication of rate cuts offered some relief to equity US dollar index dropped to 98.57, extending a 0.34% decline. A weaker dollar generally boosts emerging market equities like India by attracting foreign capital and supporting the bond markets, the US 10-year Treasury yield was steady at 4.389%, while the 2-year yield slipped by 2 basis points to 3.925%.Foreign institutional investors (FIIs) have turned net buyers, purchasing equities worth Rs 1,824 crore over the last two domestic institutional investors (DIIs) continued their strong buying streak for the 12th consecutive day, investing Rs 2,566 crore—providing additional support to the market.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
20-06-2025
- Business
- Time of India
PFC, REC shares rally 4% as RBI eases provisioning norms for project financiers
Shares of project financiers PFC and REC jumped up to 4.5% on Friday after the RBI issued its final directions on project financing, replacing multiple legacy circulars and aligning norms across banks, NBFCs, and co-operative banks. PFC shares rallied as much as 4.5% to Rs 407.45, while REC rose 3.5% to a day's high of Rs 396.95. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo "In comparison with the May 2024 draft proposal of 5% standard asset provisioning for under-construction projects, the 1.0%/1.25% provisioning for Infra/CRE projects under the final regulations provides a much-needed breather to project financiers, including REC and PFC," said Avinash Singh, analyst at Emkay Global . The guidelines, he noted, are positive for project finance lenders and remove the overhang caused by the May 2024 draft directions. "For power sector NBFCs (REC and PFC), even a minor impact of these directions, in the context of additional standard asset provisioning, will be absorbed through impairment reserves and exert no pressure on PAT or net worth. However, regulatory capital will see some impact—though minimal and likely only from FY27—as the guidelines apply only to loans achieving financial closure on or after October 1, 2025," Singh added. Live Events While the 2024 draft norms had proposed stringent provisioning (up to 5%) and stricter upgrade criteria (360-day performance requirement), the final guidelines have significantly relaxed these provisions, resulting in minimal impact on banks' profitability and balance sheets. Motilal Oswal also stated that the revised norms will have a negligible impact on bank and NBFC profitability, as the existing loan book remains unaffected. "The RBI's final project finance guidelines are a positive for banks and NBFCs, especially compared to the stricter 2024 draft. The most notable relief comes from significantly eased provisioning requirements—reduced to just 1% during construction (versus 5% proposed earlier) and as low as 0.4% post-DCCO. This reduces capital drag while maintaining prudence. Overall, the final norms strike a balanced approach, enabling continued flow of project finance with minimal impact on lenders' profitability or balance sheet strength," the brokerage said.
