SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD JUN 04
MCX SILVER MAY 05
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD JUN 04
MCX SILVER MAY 05
MCX CRUDEOIL MAY 19
MCX NATURALGAS APR 27
USD/INR
EUR/INR
GBP/INR
JPY/INR

Closing Bell: Sensex ends 244 points lower, Nifty below 14,300 dragged by IT stocks; broader markets outperform

Asian shares at highest since early March, weak dollar boosts commodities

Oil holds near one-month highs as demand forecasts raised

Rupee rises 23 paise to 74.64 against US dollar in early trade

Plan to complete Brookfield transaction soon; aim to scale up used vehicle lending biz, says Indostar Capital

Updated : February 07, 2020 11:06 AM IST

Sequentially, it was a very weak third quarter across parameters for Indostar Capital Finance. Disbursals remained on the lower side for second quarter in the row, while assets under management declined.

R Sridhar, executive VC and CEO of the company said post the IL&FS crisis, NBFCs have faced major liquidity stress. "The last fifteen months has been a challenging period but we have been able to manage through many of our strategies. Liquidity has improved substantially now, we have received a lot of money in January; on the Partial Credit Guarantee scheme we have received about Rs 500 crore, term loans have started coming,” he added.

On the vehicle financing business, he said “In commercial vehicle (CV) financing, we are neither at the bottom of the pyramid nor at the top end of the spectrum. We are focusing more on used vehicles. So, our portfolio consists of two-thirds of used and one-third of new vehicle finance, which gives us a blended yield of over 16.5 percent." Going forward, the potential to scale up this business is quite large because except three large companies, there are no NBFCs in CV financing space, he said in an interview with CNBC-TV18.

Moreover, with the scrappage policy likely to come by March 31, 2020 – the next three-five years there could be lot of scope for lending to used vehicles. In the used vehicle space, we have positioned our company at a very strategic level. "I am also confident that with the capital coming in, we can look at scaling up this business very high,” said Sridhar.

Meanwhile, “Brookfield has signed binding agreement to infuse Rs 1,225 crore into Indostar. So, we are focusing on concluding that transaction at the earliest,” he said.

Published : February 07, 2020 11:04 AM IST

You May Also Like

Apple Event 2021 highlights: 11-in and 12.9-in iPad Pros, 24-in M1 iMac, Purple iPhone 12 launched

Apple Event 2021 highlights: 11-in and 12.9-in iPad Pros, 24-in M1 iMac, Purple iPhone 12 launched

Creators throng to Apple's new M1 Macs as they see gains in productivity

Creators throng to Apple's new M1 Macs as they see gains in productivity

In Pics | COVID-19 data highlights for April 20: 2.59 lakh new cases, total death toll climbs to 1.80 lakh

In Pics | COVID-19 data highlights for April 20: 2.59 lakh new cases, total death toll climbs to 1.80 lakh

Trending on CNBC-TV18

Live TV

recommended for you