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Monday, May 06, 2013
Allahabad Bank Ltd and SKS Microfinance Ltd: Rocking Charts
Chart of Allahabad Bank Ltd
Chart of SKS Microfinance Ltd
Allahabad Bank Ltd:The Oldest Joint Stock Bank of the
Country, Allahabad Bank was founded on April 24, 1865 by a group of
Europeans at Allahabad. At that juncture Organized Industry, Trade and
Banking started taking shape in India. Thus, the History of the Bank
spread over three Centuries - Nineteenth, Twentieth and Twenty-First.
The shares of the company has a book value of Rs.192.92, EPS of Rs.29.18 and market cap of Rs.6,642.85 Cr. The dividend yield at the current price is Rs.4.52%. Its P/E is 4.55 against the industry P/E of 7.37. Therefore, a decent P/E of 6, can take the scrip to around Rs.170-171, in the short term. CMP: Rs.132.85.
SKS Microfinance Ltd: SKS distributes small loans that begin at Rs.2,000 to Rs.12,000 (about $44-$260) to poor women so they can start and expand simple businesses and increase their incomes. Their micro-enterprises range from raising cows and goats in order to sell their milk, to opening a village tea stall. SKS uses the group lending model where poor women guarantee each other’s loans. Borrowers undergo financial literacy training and must pass a test before they are allowed to take out loans. Weekly meetings with borrowers follow a highly disciplined approach. Re-payment rates on its collateral-free loans are more than 99% because of this systematic process. SKS also offers micro-insurance to the poor as well as financing for other goods and services that can help them combat poverty.
Last month the company announced the completion of two microfinace securitization transactionsaggregating Rs.226 Cr, rated A+ (SO). With this the Company has completed 12 securitization transaction with seven funding parties aggregating Rs.1, 207 Cr for FY13. In addition SKS Microfinance Ltd has also raised incremental debt of Rs.1, 608 Cr for FY13 and raised fresh equity of Rs.263.5 Cr taking the total incremental funding inflow for FY13, to Rs.3, 150 Cr, which is more than double the value raised in FY12, which was Rs.1, 4345 Cr. CLICK HERE. CMP: Rs.131.35.