Finance
Siddhartha Khemka on why Bajaj Finance saw a sell-off post results
What is your view on the pharma sector and Cipla in particular?
For the healthcare space, even FY23 was a weak period. We are expecting some improvement from the healthcare space with a sales growth of about 14% and PAT growth of about 13%. We are already seeing some of the pharma names reporting improved numbers a), on the back of improved demand both globally as well as in the domestic market, and b), and more importantly, with realizations now stabilising, the cost pressures are coming down.
The biggest overhang that we see is the regulatory overhang, which had eased off in between, but is coming back again. Some of the pharma names have started getting US FDA observations which delay and impact growth per se. But overall things are looking better for pharma names. Some of the names have already moved up and valuations are now closer to the fair zone. Still, in terms of the preferred players, we prefer some of the global exposed names like Sun Pharma, which has much better product global as well as domestic footprint.
Do you have a view on L&T? Also why are Bajaj Finance stock seeing a sell-off?
Bajaj Finance results have been more or less in line with the expectation and we are seeing the kind of reaction from some of the companies after the results which are in line. So it is mostly like a sell-on-news phenomenon. The numbers that have come out are pretty good with net profit growth of 32%, AUM growth of again, 32%, net interest income is up 26%. NPAs have also come down.
Overall, the numbers are in line with our expectations. Today’s reaction is a bit of a sell-on-news kind of thing but we have a very positive view on Bajaj Finance, given the strong growth trajectory that they have been able to maintain, plus the diversification that they are now doing in the financing business, which should help them scale greater heights.
Coming to L&T, the results have been pretty good. The commentary has also come out to be pretty strong in terms of the outlook, especially for the order book that the management is targeting. That looks like pretty strong commentary in terms of the management’s focus towards increasing the overall order book, which could drive growth going forward, especially in a environment where we are seeing that consistently, capex is picking up just before the general elections next year. We expect pickup in execution as well for some of the construction names, which should also help companies like L&T, which is seeing strong momentum in both order books as well as execution capabilities, leading to strong earnings growth.
What is your view within the private banking names? Is Axis something that you like?
In the private banking space, ICICI Bank results were pretty good. There was robust loan growth, stable asset quality and in expected lines, the margins are slightly declining. That is a trend that we are seeing across banking names. We are definitely expecting NIMS to kind of consolidate and marginally come down in the current financial year. The core business growth remains pretty strong. ICICI is the preferred bet within the private banking space having delivered the strong numbers. Even for Axis, we are expecting a strong number and we like Axis but in terms of preference, we would continue to prefer an ICICI Bank over Axis. But we definitely will take a call again, post the results today and the commentary.
Finance
Weekly finance Horoscope November 24 to November 30, 2024: Aries find success in investments; Cancer sees long-held goals materializing – Times of India
Aries
Though things would get better with time, the first half of the week might not deliver any appreciable cash benefits. Some entrepreneurs could find now to be the perfect time to launch fresh projects. You might pay off a bank loan and even clear outstanding bills. Though be sure to have professional guidance, success is probably in the stock market and speculative projects, so it is a good time to think about major investments.
Taurus
Your financial condition will be strong, which will help you to reach significant targets. This is the right moment to proceed with ideas to buy a new car or house. Some ladies might also buy jewellery. Resolve any money issues with a friend or sibling in early part of the week. It’s also a good time to raise money for your company; entrepreneurs might come across chances to land financial agreements with promoters.
Gemini
Your financial situation will let you make wise selections. You probably will find riches arriving from many different sources. For sound financial management, think about speaking with a professional. Women might inherit land or pay off all outstanding debt. You could also have to budget for your child’s schooling. Before completing any new partnership agreements, business owners should wait one day or two.
Cancer
Today you will find a decent wealth flow. You could realize several long-cherished goals when money pours in. These days you might get a car as well as some electrical appliances. Good time to donate money to a charity is the second part of the day. Investors in stock, trade, and speculative company will make good profits.
Leo
Though there won’t be any major financial issues, you should nevertheless keep careful with your expenditure. Good returns on previous investments will let you employ this money to seize fresh prospects. Some Leos will work out a financial problem with a pal. Talk about money carefully with siblings to avoid possible conflicts. Business owners will be successful in today’s fund raising and clearing of all outstanding debts.
Virgo
You can run with small financial problems that might compromise wise financial decisions. Think of wise trade, stock, or land investments. You can also get an inheritance meant to help with your finances. For money management, speaking with a financial professional could help. A few Virgos will work out a financial dispute with a brother. Later in the day you could perhaps decide to buy a new house or renovate your current one.
Libra
You might have small financial problems, so you should control your expenditure closely. Steer clear of costly goods and be careful while handling money for others. Some Libras can come across family conflicts about land today. You might also donate money for charity, especially in the afternoon. Dealing with assets and investments, be deliberate and patient.
Scorpio
You will not run out of money, which will help you to readily handle daily problems. New commercial alliances will provide consistent financial flow. Your spouse’s family might provide financial help as well as probably approval for a bank loan. Now is a fantastic moment to follow your ideas for trying your luck in stocks or trade.
Sagittarius
Today your financial situation will be strong, which will let you think about purchasing or selling real estate. Donations for charities would be best during the second half of the day. Now is a great time to start trying your luck in stocks, trading, or speculative enterprise. Some women will take care of family finances. Those in business selling technology, fashion accessories, or transportation will find good profits.
Capricorn
Expect financial possibilities today with reasonable returns on past investments. Buying electronic gadgets is best done in the later part of the day. Though you should perform careful study before making any major decisions, think about investing in property or speculative projects. Usually with the aid of their partners, entrepreneurs will find money; clients may pay any outstanding debts, therefore relieving financial burden.
Aquarius
Feel free to buy basics like household appliances. Businesspeople might get money from overseas, and right now real estate is a good investment. Anticipate more costs; so, it would be advisable to see a professional financial advisor. You could also settle a legal matter; the later part of the day is appropriate for giving someone in need cash assistance. Get ready for potential legal issues that can call for a big financial outlay.
Pisces
Today you won’t run across any significant financial problems. Given your means, you could think about looking for jewellery or gadgets. Still, this is hardly the day for speculative business. You could buy or sell real estate; the later part of the day is good for helping a friend financially, provided you make sure the money will be returned right away. Using promoters, business owners will effectively raise money.
This article is written by, Sidhharrth S Kumaar, Registered Pharmacist, Astro Numerologist, Life & Relationship Coach, Vaastu Expert, Energy Healer, Music Therapist, and Founder of NumroVani.
Finance
St. Augustine's says it will eliminate 50% university employees ahead of accreditation meeting
RALEIGH, N.C. (WTVD) — Saint Augustine’s University (SAU) announced Saturday it will eliminate several positions, including non-faculty and vacant, this month ahead of its significant accreditation meeting.
Last December, the Southern Association of Colleges and Schools Commissioner on Colleges (SACSCOC) voted to remove SAU from membership due to its financial status. The university’s appeal was denied in February and then in July, the SACSCOC arbitration committee reversed the decision and reinstated SAU’s accreditation.
The SACSCOC board will vote on the next step for the university in December.
In a news release, SAU said to ensure compliance with the Southern Association of Colleges and Schools Commissioner on Colleges and keep its accreditation, the school has reduced its expenses by approximately $17 million in fiscal year 2024 compared to 2023. Reductions, totaling 50% of university employees, include 67 staff positions (41% reduction); 37 full-time faculty positions (67% reduction); 32 adjunct faculty positions (57% reduction); and stopping several under-enrolled programs.
SEE ALSO | St. Augustine’s alumni hosts celebration amid canceled on-campus homecoming
The university also said it will be actively settling outstanding balances with vendors and adjusting various contrasts.
SAU also reported completing four financial audits for fiscal years 2021, 2022, 2023, and 2024, and restoring employee payroll and health insurance benefits.
The HBCU university — remaining millions of dollars in debt — secured a $7 million loan from Gothiuc Ventures with a high-interest rate. To get the loan, St. Aug’s put up much of the university’s main campus and off-campus properties as collateral.
Gothic Ventures tells ABC11 that the interest rate offered was determined by the financial difficulties faced by the university, which included a recent audit, historical revenue losses, and outstanding debt.
SEE ALSO | Saint Augustine’s University’s high-rate $7 million loan puts HBCU in jeopardy, finance experts say
Many, including SAU alumni and finance experts, are concerned about this loan.
“We are concerned about the partnership between Gothic Ventures and Saint Augustine University because if for any reason Saint Augustine is unable to repay Gothic ventures, the land will be lost and the university as we know it will cease to be,” alum Bishop Clarence Laney said.
The lawsuit against the board of trustees by the SaveSAU Coalition was also recently dismissed.
EDITOR’S NOTE: The featured video is from a previous report.
Copyright © 2024 WTVD-TV. All Rights Reserved.
Finance
Assess your financial risk before new policies affect the economy
I’ve been thinking about financial risk lately.
Should I change my asset allocation in my retirement portfolio, considering Donald Trump’s successful bid for the White House? Stock market valuations have risen smartly in recent years, which real income growth, productivity improvements, technological innovation, low unemployment rates and healthy corporate profits have largely powered. Yet with the election of Trump, voters have approved a massive economic experiment.
The Trump administration comes into power with many policy goals, but four economic initiatives stand out: Enacting significant tax cuts; imposing broad-based and significant tariffs; sweeping raids, mass deportations and tighter immigration controls; and slashing federal government regulations. The extent that these plans turn into reality and how each policy will interact with the others is uncertain. The risks are obvious. The outcome isn’t.
Enter risk management, a critical concept in finance. Professionals often associate risk with volatility. The tight link makes sense, since owning assets with high volatility hikes the odds of losses if there is a pressing need to sell the asset to raise money.
However, for the typical individual and household, risk means the odds money decisions made today don’t pan out. Managing risk means lowering the negative financial impact on your desired standard of living from decisions gone wrong and when circumstances take an untoward turn.
“Anything that makes reaching or maintaining that more likely reduces your risk, and anything that makes this less likely increases your risk,” writes Bob French, the investment expert at Retirement Researcher. “Everything else is just details.”
The key risk management concept is a margin of safety, a bedrock personal finance idea broader than investment portfolios. It can include having an emergency savings fund, owning life insurance to protect your family and investing in your network of friends and colleagues to hedge against the risk of losing your job. The right mix depends on the particulars of your situation.
In my case, after studying my portfolio, running household money numbers and reviewing lifestyle goals, I’m comfortable with the asset allocation in my retirement portfolio. There is too much noise in the markets for comfort, and market timing is always tricky. The prudent approach with my individual situation is to stay the course.
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