NBFC stocks in these days of demonetisation chaos
DSIJ Intelligence / 15 Nov 2016
The demonetisation move of the Central government, along with other government measures, will make life easier for NBFCs. However, there will be problems for companies from NBFC sector couple of quarters going forward.
The demonetisation move of the Central government, along with other government measures, will make life easier for NBFCs. However, there will be problems for companies from NBFC sector couple of quarters going forward.
However, NBFCs will have no problem in repayments from their borrowers, provided there are no structural issues.Some micro finance institutions will have to rethink their model as they are totally dependent on the cash economy.
There might be a slowdown for one of the most struggling sectors, real estate sector, because of demonetisation. The financial institutions which are in the business of lending money to smaller ticket size home loans may face severe debt repayment crisis as repayments are dependent on heavy cash.
Reacting negatively to this development, all the finance stocks were trading down with big losses in today’s trading session.
Biggest losers: -
Manappuram Finance- 14.46 %
Shriram City Union Finance -13.75%
Max Financial Services- 11.19 %
Muthoot Finance- 5.85 %
Can Fin Homes- 20 %
Capital First- 11.75%
IIFL Holdings - 8.55%
Other stocks too were trading with heavy losses, dragged down by financial stocks.
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