Sundaram BNP Paribas Home Finance cuts interest rates on deposits by 50bps

India Infoline News Service | Mumbai | November 29, 2016 10:49 IST

Individuals (other than senior citizens) will now get 7.25% on 2 year and 3 year deposits as against 7.75% previously while Senior Citizens will get 7.75% (8.25%) on 2 year and 3 year deposits.

Sundaram Finance Limited
Sundaram BNP Paribas Home Finance Ltd has announced a reduction on its deposit rate by 50 basis points across all tenors from December 16, 2016.
 
Individuals (other than senior citizens) will now get 7.25% on 2 year and 3 year deposits as against 7.75% previously, while Senior Citizens will get 7.75% (8.25%) on 2 year and 3 year deposits.
 
On 12 months and 18 months deposits, individuals will get 6.75% (7.25%) while Senior Citizens will get 7.25% (7.75%).
 
Trusts will get 7.75% (8.25%) on 3 year deposits and 7.25% (7.75%) on 4 and 5 year deposits.
 
Sundaram BNP Paribas Home Finance deposit portfolio crossed Rs 1000 crore in March this year.
 
The company registered a 13% growth in loan disbursements at Rs 1036 crore (Rs 917 crore) in the first half of the year. The company has over 100 branches spread across the country and over 50,000 customers.
 
In addition to focusing on the huge salaried segment, Sundaram Home Finance is looking to expand its presence in the rural housing as well as the affordable housing segment.
 
Sundaram BNP Paribas Home Finance is a 50.1% - 49.9% Joint Venture between Sundaram Finance and BNP Paribas.

Stock View:
 
Sundaram Finance Ltd is currently trading at Rs 1209.05, up by Rs 6.2 or 0.52% from its previous closing of Rs 1202.85 on the BSE.
 
The scrip opened at Rs 1210 and has touched a high and low of Rs 1215 and Rs 1205 respectively. So far 5823(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 13363.66 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 1567 on 29-Jul-2016 and a 52 week low of Rs 1105.5 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs 1242 and Rs 1193.25 respectively.
 
The promoters holding in the company stood at 36.18 % while Institutions and Non-Institutions held 16.3 % and 46.63 % respectively.
 
The stock is currently trading below its 200 DMA.

***Note: This is a NSE Chart

 

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