Latest news with #PradhanMantriAwasYojna
Time of India
6 days ago
- Business
- Time of India
PVC pipes, fittings manufacturing companies to see recovery this fiscal: Crisil Ratings
After a flattish revenue growth last financial year, Polyvinyl chloride (PVC) pipes and fittings manufacturing companies will see a recovery this fiscal led by robust demand from end-user segments and a more stable price environment, according to Crisil Ratings . Improved profitability and easing inventory levels will also reduce their working capital requirements and afford room to expand capacities without stressing balance sheets, the statement said. Explore courses from Top Institutes in Please select course: Select a Course Category Healthcare Data Science Design Thinking Project Management Leadership others healthcare MCA Data Analytics Cybersecurity Public Policy Finance PGDM CXO Technology Digital Marketing Data Science Operations Management Artificial Intelligence Product Management Others Degree MBA Management Skills you'll gain: Financial Analysis in Healthcare Financial Management & Investing Strategic Management in Healthcare Process Design & Analysis Duration: 12 Weeks Indian School of Business Certificate Program in Healthcare Management Starts on Jun 13, 2024 Get Details "Demand for PVC pipes and fittings has remained robust in recent times driven by government schemes such as Jal Jeevan Mission and Pradhan Mantri Awas Yojna, which focus on the water supply , sanitation and housing segments. "What has changed is the government more than doubled budgetary allocation this fiscal, on-year, for these schemes, which can drive up the requirement of PVC pipes and fittings even more," Crisil Ratings Director Himank Sharma said. This will lead to reduction in manufacturers' high-cost inventory as dealers begin restocking channels and partly wipe out a 130 basis points' decline in operating margin last fiscal. Live Events Demand from irrigation and water supply projects , contributing close to three-fourths of the sectoral revenues, is seen remaining strong, given the government's push in these sectors. Replacement and new demand from the real estate sector will also contribute, though moderate as compared with the past few fiscals, as fresh project launches are expected to reduce. PTI
New Indian Express
08-07-2025
- Health
- New Indian Express
Srinagar Diary: Telemedicine services for Amarnath yatris
Telemedicine services for Amarnath yatris For the first time, Amarnath pilgrims will receive high-altitude telemedicine services during the 38-day yatra to the Himalayan cave shrine in South Kashmir, which began on July 3. It's a joint venture between ISRO and the Directorate of Health Services of Kashmir to enhance real-time specialist healthcare in the challenging mountainous terrain. These facilities are operational at the Yatra Base Hospitals of Baltal and Panjtarni. This system links doctors stationed in remote locations on the twin Yatra routes with medical specialists in larger hospitals, enabling quicker treatment, especially during emergencies. Homes for five lakh homeless in J&K About five lakh homeless people in Jammu and Kashmir would get homes under the Prime Minister's Awas Yojana, Union Agriculture Minister Shivraj Singh Chouhan announced during his visit to Srinagar last week. He said 93 per cent of houses sanctioned under PM Awas Yojana in J&K have been completed. He said a survey pegged the state's homeless population at five lakh, and allotments will begin after the verification process is completed. Lt Governor Manoj Sinha had in July 2023 announced five marlas of land to landless families for constructing their houses under the Pradhan Mantri Awas Yojna. Helplines for terrorism-affected persons After Lt Governor Manoj Sinha's announcement to notify toll-free numbers for the assistance of families victimised by terrorism, police have established Grievance Cells/Helplines in all 10 districts in the Valley. The victims or their kin can use the helplines to register their grievances. According to government figures, over 40,000 people, including civilians, security personnel and children, have lost their lives in J&K since 1990. Sinha has directed Deputy Commissioners and SSPs in the Valley to reopen militancy and terrorism cases that were 'deliberately' buried and file fresh FIRs. The LG also directed officials to free property and land of terrorism-affected families. Fayaz wani Our correspondent in Jammu and Kashmir fayazwani123@
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Business Standard
02-07-2025
- Business
- Business Standard
Affordable housing launches to remain muted despite rate cuts, tax benefits
While demand for sub ₹50-lakh affordable housing prevails, market players cite increased land rates, escalated construction costs and low margins as key prohibiting factors Prachi Pisal Gulveen Aulakh Mumbai/ New Delhi Listen to This Article Affordable housing supply across India is likely to remain muted in the coming quarters despite the repo rate cut of 100 basis points since February, income tax-related benefits announced in this year's Budget and the extension of Pradhan Mantri Awas Yojna (PMAY), according to industry executives and sector watchers. While demand for sub ₹50-lakh affordable housing prevails, market players cite increased land rates, escalated construction costs and low margins as key prohibiting factors. Some like Mahindra Lifespaces are moving out of the segment, while others are reducing their share of the housing portfolio dedicated to affordable housing. 'The viability of
Mint
11-06-2025
- Business
- Mint
Affordable housing financiers get a RBI rate cut boost. But it may not last.
NEW DELHI : Affordable housing finance companies (HFC) are back in vogue since the Reserve Bank of India's (RBI) surprise 50-basis-point rate cut on 6 June. Their stocks rose around 6-7% in the last two trading days, before the broader financial services sector gave up most of its gains on Tuesday. It's because in a low-interest rate regime, affordable HFCs are likely to offer better returns compared to prime or super prime lenders, according to experts. 'The affordable space is niche and relatively less competitive, as there are no banks present in that segment," Anusha Raheja, research analyst at Dalal & Broacha Stock Broking Pvt. Ltd told Mint. 'Hence, they will face lower NIM (net interest margin) pressures compared to the prime or super prime segments going ahead." Nonetheless, Harsh Madhusudan Gupta, manager of Ionic Asset's PIPE fund, said the RBI's latest policy move should benefit most HFCs in general. 'It should be incrementally accretive for their earnings per share and book value per share estimates, despite the fact that the move is to some extent just front-loading the overall rate cuts." Catering to prime or super-prime borrowers puts housing financiers in direct competition with banks, given that this is a relatively safer lending pool. Now that the RBI has slashed the repo rate to 5.5%, banks will also reduce their repo-linked home loan interest rates soon, compelling HFCs to follow suit even if their borrowing costs don't fall immediately. This will likely squeeze the profitability of prime and super prime HFCs a bit harder, Raheja added. Affordable housing financiers' funding costs are high and they charge higher interest as they have a riskier borrower profile and lower quality of collateral. But since the National Housing Bank subsidizes most of their funding costs, they end up earning higher margins and higher return on their assets. The government nudge Moreover, the government's credit-linked subsidy scheme reduces borrowers' liabilities by subsidizing the principal portions of their loans. This reduces the credit risk for lenders, making the overall business model profitable. The Union government announced the Pradhan Mantri Awas Yojna (PMAY) 2.0 in its 2025 budget to provide 20 million additional houses to the poor in the next five years. With renewed impetus from the government and the RBI's latest monetary policy move, the market now has enough liquidity to boost home loan volumes at a much faster pace in 2025-26. "The affordable and mid-income housing segments are highly rate-sensitive, and borrowers here are quick to respond to lower EMIs," said Atul Monga, chief executive and co-founder of BASIC Home Loan, a fintech company offering home loans to semi-urban and under-served borrowers. 'With the repo rate cut translating into reduced home loan (interest) rates, we anticipate stronger traction in affordable housing loans compared to corporate or prime segments," he added. Weak housing demand However, experts also caution against an over estimation of incremental housing demand in response to the latest monetary policy actions, as residential housing demand has already been growing at a solid pace so far. 'Affordable HFCs have been growing at 30%-plus growth rates. I doubt if they will start growing at 40% after the rate cuts," Dalal & Broacha's Raheja said. Apart from slashing interest rates to 5.5%, the RBI cut cash reserve ratio (CRR) by 100 basis points to 3%, which is expected to infuse an additional ₹2.5 trillion in the economy. While this will partly offset NIM pressures arising from the latest repo rate cut and help in faster monetary policy transmission to the credit market, residential housing demand is likely to normalize on a high base, said Tanvee Gupta Jain, chief India economist at UBS. 'That said, we think the housing demand cycle could be extended based on mortgage rate cuts and improved consumer sentiment," she added. However, Raheja noted that mortgage rate cuts might not always translate to commensurately higher loan volumes, as job security and income growth also remain key deciding factors in availing home loans, particularly for the poor. To be sure, wage growth in urban India has been in a slow lane for a while now. Wage bill growth of BSE 500 companies was stuck between 4-6% year-on-year throughout 2024-25, against a 12% on-year rise in 2023-24, said a recent Nuvama Institutional Equities report. IIFL Finance gets leg up But as the market largely ignores any demand concerns for now, IIFL Finance emerged as an outperformer among all major non-banking financial companies (NBFCs), rising almost 7% in the last three days. Majority of IIFL's loan book is secured, comprising housing (40%) and gold loans (27%), and until recently its stock was trading at substantial discount to its peers. This was mainly because the RBI had imposed a ban on its gold loan business back in March 2024, citing governance issues in the company. Even though the ban was lifted in September 2024, its stock price did not react sharply to the development back then. Experts believe the RBI's latest monetary policy decisions might have triggered a potential re-rating of the stock.
Mint
23-05-2025
- Business
- Mint
Best stocks to trade on 23 May, as recommended by Trade Brains Portal
India's stock market opened in red on Thursday, with the Nifty 50 opening lower at 24,733.95 points and the BSE Sensex at 81,323 due to concerns over the US's fiscal deficit and the 30-year US treasury bond yield rising to 5.09%. For today, we have picked two stocks—one each from the housing finance sector and the auto ancillaries sector. We also take a closer look at Thursday's market performance to identify trends that may shape the indices in the days ahead. Stocks to trade today, 23 May Current price: ₹227 Target price: ₹295 in 14-16 months Stop-loss: ₹192 Why it's recommended: HUDCO is the nodal agency for the government's 'Housing for All' initiative and is also actively involved in federal schemes such as the Jal Jeevan Mission and Pradhan Mantri Awas Yojna. The company lends under these schemes and provides consultancy services for the appraisal of projects sanctioned under these. HUDCO recorded its highest ever sanctions and disbursement during FY25, with loan sanctions growing 55.31% to ₹1,27,952 crore from ₹82,387 crore in FY24. Loan disbursements increased 122.59% to ₹40,038 crore in FY25 from ₹17,987 crore in FY24, and interest income increased 33% to ₹10,200 crore in FY25 from ₹7,653 crore in FY24. Furthermore, HUDCO is targeting a ₹1.5 trillion loan book this financial year and ₹3 trillion by 2030. Its net interest margin (NIM) remained stable at 3.22% in FY25 as against 3.18% in FY24. For the next 2 years, the management has guided for NIM of 3.25-3.3%. HUDCO's interest spread improved to 2.06% in FY25 from 1.79% in FY24, resulting in a pre-tax profit of about ₹3,636 crore in FY25. HUDCO maintained a comfortable debt/equity ratio of 5.72x in FY25 as against 4.05x in FY24. Its cost of funds improved by around 35 basis points to 6.75% in FY25 from 7.1% in the prior financial year. HUDCO's asset quality is also enhancing, with its gross non-performing asset (GNPA) decreasing to 1.67% in FY25 from 2.71% in FY24, and its net NPA dropping to 0.25% in FY25 from 0.36% in FY24. Its provision coverage ratio remained at 85.44% in FY25. HUDCO is committed to resolving its NPAs in 18 months, and the management is optimistic that the company will recover ₹400-500 crore from NPA resolutions in FY26. Further, HUDCO's board of directors has approved a final dividend of ₹1.05 per equity share for FY25, with a dividend yield of 1.81%. The final dividend is in addition to the first interim dividend of ₹2.05 per equity share and the second interim dividend of ₹1.05 per equity share already declared and paid for FY25. Risk Factor: HUDCO is significantly exposed to certain state governments and public agencies. Although regulatory relaxations were granted, any failure to reduce exposures within the stipulated timelines or breach of Fiscal Responsibility and Budget Management Act (FRBM Act) conditions may lead to regulatory penalties and higher risk weights, impacting the company's capital adequacy and financial stability. Additionally, the company faces stiff competition from other players such as banks and financial institutions, which have an edge over HUDCO in terms of cheap resource availability from current account and savings account (CASA) deposits. Current price: ₹ 383 Target price: ₹440 in 16-24 months Stop-loss: ₹354 Why it's recommended: Exide Industries Ltd is a leading battery manufacturer offering a wide range of lead-acid and lithium-ion batteries for automotive, industrial, and renewable energy applications. The company supplies batteries for cars, two-wheelers, trucks, inverters, UPS systems, telecom infrastructure, railways, mining, and defense. With its diversified product portfolio, the company has battery capacities ranging from 2.5 Ah to 20,000 Ah. Exide operates in more than 60 countries and has 10 manufacturing plants in Bengaluru and Prantij. In FY25, the company added 14 distributors and reached 13 regions in the automotive segment. In the industrial segment, Exide onboarded 28 accounts, reaching more than 20 regions. For FY25, Exide reported a revenue of ₹16,588 crore, up 3.5% year-on-year (YoY) and growing at a compound annual growth rate (CAGR) of 13.4%. Profit after tax increased 2.2% to ₹1,441 crore in FY25, growing at a CAGR of 9.1% over the previous five years. Exide has low debt with a debt-to-equity ratio of 0.14, and holds ₹14,442 crore in equity. It continues to generate strong positive cash flow from operations, which was ₹1,298 crore in FY25. Further, Exide acquired 100% ownership in Exide Energy Solutions Ltd (EESL) to establish a 12 GWh greenfield project in two phases of 6 GWh capacity each to offer an end-to-end solution from cell to system—'molecule to megawatt"—by investing ₹3,602 crore. The company is also collaborating with SVOLT Tech Solutions, a leading Li-ion cell manufacturer. This synergy will help Exide set up a plant on a turnkey basis for Li-ion cell technology. The company also plans to increase its capacity by 6 GWh through four lines in Phase 1. With these latest developments, Exide is positioned to capitalize on emerging market opportunities in the battery segment. India is one of the largest automobile markets globally. The Indian electrification demand is expected to be 120 GWh by 2030, driven by production-linked incentive schemes for the auto sector, state policies on electric vehicles, and subsidies. Rating agency ICRA expects EV penetration to be 25% for two-wheelers, 40% for three-wheelers, 30% for buses, 15% for passenger vehicles, and 12-16% for light commercial vehicles as a percentage of total sales by 2030. These favourable EV demand prospects are likely to benefit the company. Risk factor: Exide Industries is exposed to intense competition in its lead-acid battery business from organized players like Amara Raja and HBL Engineering, as well as players in the unorganized space. The company is also exposed to stricter pollution control regulations as a majority of its raw materials such as lead, sulfuric acid, and lithium are hazardous. Additionally, Exide is exposed to fluctuations in the prices of raw materials such as antimony and lead, which have spiked in the past six months, hurting the company's margins. Market Recap: 22 May, 2025 The Nifty 50 reached an intraday low at 24,462 points on Thursday, touching the 20-day EMA in the daily time frame. The Sensex's low for the day was 80,489.92, also breaching the 20-day EMA. Nifty 50 closed at 24,609.70, losing 203.75 points or 0.82%, while the Sensex closed at 80,951.99, down 644.64 points or 0.79%. Sectorally, only Nifty Media ended in the green at 1,674, up by 18.35 points or 1.11%, with index constituents Network 18, Tips Music, and ZEE Entertainment gaining up to 4%. Among the losers, Nifty FMCG fell the most and ended at 55,598, losing 815 points or 1.44%, with the major laggards being Colgate-Palmolive (-6.5%), Varun Beverages (-2%), and United Breweries (-1.78%). Nifty IT closed at 37,050, down 490 points or 1.31%, due to concerns over Moody's downgrading the US's credit rating as major Indian tech companies are exposed to the US market. Asian markets were also cautious amid weak global cues on Thursday, with the Hang Seng Index losing 283.47 points or 1.19% to close at 23,544.31 and the Nikkei 225 index also closing in the red at 36,985.87, down 313.11 points or 0.84%. Additionally, the India VIX fear gauge jumped around 3% to reach a high of 18.20 on 22 May, indicating heightened market volatility. Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
