Credit Services
Indian Railway Finance Corporation Limited (irfc) Raises Jpy-equivalent USD 1.1 Billion ECB
Indian Railway Finance Corporation Limited (IRFC) secures JPY-equivalent USD 1.1 billion ECB, marking its first in FY 2026–27.
Indian Railway Finance Corporation Limited (IRFC) on May 22, 2026, announced the successful raising of an External Commercial Borrowing (ECB) of JPY equivalent USD 1.1 billion. This marks the first ECB in FY 2026–27, following successful ECB transactions in FY 2025–26. The loan agreement was signed by Ms. Rakhi Dua, Senior General Manager (Finance), IRFC on behalf of the company.
Key Details of the ECB
The ECB, tied up for a 5-year tenor, is benchmarked to Overnight TONAR (Tokyo Overnight Average Rate). The proceeds will be utilized towards financing projects having forward or backward linkage with the railway sector or any other project approved by the company in compliance with the ECB Guidelines.
Significance of the Transaction
Shri Manoj Kumar Dubey, Chairman and Managing Director & CEO, IRFC, lauded the efforts of the ECB team led by Ms. Deepa Kotnis, ED/Finance, and ably supported by Ms. Rakhi Dua (Sr.GM), Mr. Nav Goel (GM), Mr. Dhruv Taparia (Dy.Mgr), and Mr. Mehar Chand (Jr. Mgr). The transaction reinforces investor confidence in IRFC’s strong financial fundamentals and strategic vision, contributing towards optimizing the weighted average borrowing cost and strengthening the ability to support the ongoing expansion and modernization of railway infrastructure.
As a result, IRFC continues to mobilize resources through diversified avenues at competitive rates, delivering long-term value to the nation.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Indian Railway Finance Corporation Limited
Indian Railway Finance Corporation Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
Indian falls 12.2% over three months and has not found a floor yet. The PEG stands at 4.16 — severely stretched. Any earnings miss could trigger a sharp de-rating. D/E reaches 7.81. High leverage in this environment is a material risk the market cannot ignore. The stock sits at 18% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. Revenue grows at 4.9% CAGR — a respectable pace. However, the stock drops 12.2% in three months without an obvious fundamental trigger. Sector-wide pressure or a valuation re-rating can persist for longer than expected. Therefore, there is no rush to step in. Check Fundamentals of Indian Railway Finance Corporation Limited.
CAPTRUST
Capital Trust Limited Expands Gold Loan Business with A-eye Technology
Capital Trust Limited (CAPTRUST) expands its gold loan business with A-Eye technology, achieving ₹5-6 Cr monthly disbursements and scaling from pilot to plat.
Capital Trust Limited (NSE: CAPTRUST), a leading NBFC, has successfully scaled its gold loan business from pilot to platform, leveraging its innovative A-Eye technology. Launched in October 2025, the business now operates six dedicated gold loan branches, achieving monthly disbursements of ₹5-6 Cr. Cumulative disbursements exceed ₹45 Cr across 1,800+ customers, with gold and secured loan AUM standing at ₹35 Cr.
Valuation Risk Mitigation
Capital Trust has built a technology control into the valuation process. A-Eye independently generates its own karat, weight, and value for every ornament, flagging any variance against human testers before disbursal. The Branch Manager confirms the final value after reviewing all three valuations, and Head Office gives final approval.
Custody and Security
A-Eye tracks each pledged packet across its full journey, from sealing to storage and daily reconciliation. Branch entry and the strong room are controlled from Head Office, ensuring continuous, time-stamped visual records cover the entire process. Any off-pattern access is flagged in real time.
Cash Risk Elimination
Capital Trust’s gold branches have no cash counter. Every repayment is collected through the Company’s app, and customers can top up against pledged gold 24/7. Branches are fully paperless, with every record digital and time-stamped.
On a provisional basis for Q2FY27, AUM stood at about ₹300 Cr, up from ₹239.6 Cr in Q1FY27, with about 80% secured or carrying zero credit risk. Gross NPA was about 2.5%, Net NPA 0.0%, and debt to tangible net worth below 1x. These figures are unaudited and subject to Board approval.
“We built technology into the three places where risk sits in gold lending: valuation, custody and cash. A-Eye is an independent third eye on every ornament and every sealed packet. It values without staff input, watches custody round the clock and logs every step, while final approval and disbursement sit with Head Office. That is what allows us to replicate the Aligarh playbook branch after branch without diluting control.” — Vahin Khosla, Joint Managing Director
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Capital Trust Limited
Capital Trust Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
Capital rises 45.9% over three months, with buying pressure holding steady. Industry-leading margins of 173.8% reflect exceptional pricing power and operational efficiency. Revenue contracts at -21.0% CAGR. That signals structural headwinds, not a short-term blip. The stock holds at 32% of its 52-week range with RSI at 53. In other words, neither side has a clear edge right now. The stock rises 45.9% in three months. Yet revenue grows at only -21.0% and the PEG stands at 99.00. Either the market prices in a turnaround that has not shown up yet, or this is momentum without substance. Check the next two earnings prints before drawing conclusions. Check Fundamentals of Capital Trust Limited.
Credit Services
Onemi Technology Solutions Limited (kissht) Q2fy27 Business Update: User Base and AUM Surge
OnEMI Technology Solutions Limited (KISSHT) Q2FY27 update: user base up 32.6%, AUM grows 68.4% to ₹9,317 Cr.
OnEMI Technology Solutions Limited (NSE: KISSHT), a technology-first digital lender to India’s mass market and mass affluent segments, has released its provisional business update for Q2FY27. The company reported a significant surge in its registered user base and assets under management (AUM).
User Base Expansion
The registered user base stood at 79.54 million as of September 30, 2026, compared to 59.96 million as on September 30, 2025, marking an impressive 32.6% increase. This growth signifies the company’s expanding reach and acceptance among the target demographic.
AUM Growth
Assets under management (AUM) grew by 68.4% to approximately ₹9,317 crore as of September 30, 2026, compared to ₹5,533 crore as of September 30, 2025. AUM increased by approximately ₹1,316 crore during Q2FY27, representing a 16.4% quarter-over-quarter (QoQ) increase. This robust growth highlights the company’s strong performance in managing and growing its financial assets.
These figures reflect the company’s strategic initiatives and operational efficiency, positioning it favorably in the competitive digital lending landscape.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of OnEMI Technology Solutions Limited
OnEMI Technology Solutions Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
OnEMI gains 19.1% over three months and trades near its 52-week highs. The PEG of 0.14 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. The business compounds revenue at 16.6% and profits at 140.9% CAGR. That is strong double-digit growth on both counts. The stock trades at 93% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. Both the business and the stock move in the right direction. Revenue grows at 16.6%, profits at 140.9%, and the PEG sits at 0.14 — below its growth rate. That combination is rare. Check Fundamentals of OnEMI Technology Solutions Limited.
Credit Services
Paisalo Digital Limited (paisalo) Concludes H1 FY27 with Enhanced Capital Strength and Funding Flexibility
Paisalo Digital Limited (NSE: PAISALO) concludes H1 FY27 with enhanced capital strength, raising ₹294.9 crore through public NCDs.
Paisalo Digital Limited (NSE: PAISALO) successfully executed a series of strategic capital market initiatives during the half-year ended September 2026, reinforcing its commitment to sustainable growth and prudent financial management. The company raised ₹294.9 crore through a public NCD issue under its ₹900 crore shelf programme, followed by a ₹124.47 crore listed, dual rated, unsecured private placement NCD issuance in September 2026.
Strengthening Funding Base
These transactions reflect strong investor confidence, broaden the Company’s funding base, and support sustainable business growth. Additionally, Paisalo diversified its funding profile through the Commercial Paper market, raising over ₹177 crore during H1 FY27.
Enhanced Liquidity Through Commercial Papers
The issuance of ₹20 crore in September 2026 demonstrates continued access to short-term capital markets, enhancing funding flexibility, liquidity management, and cost-efficient resource mobilization.
Proactive Liability Management
The company successfully redeemed debt obligations during the month, including ₹94 crore of unlisted NCDs and ₹50 crore of listed secured NCDs on maturity, showcasing strong liquidity management and commitment to timely debt servicing.
As a result, Paisalo Digital Limited is well-positioned to capture future growth opportunities, reflecting the resilience of its business model and the confidence of investors and stakeholders in its long-term vision.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Paisalo Digital Limited
Paisalo Digital Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
Paisalo holds in the upper half of its 52-week range, a sign the market backs the stock. The PEG of 0.76 signals undervaluation relative to growth. It is a potential re-rating candidate. Industry-leading margins of 45.8% reflect exceptional pricing power and operational efficiency. The stock trades at 72% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. Both the business and the stock move in the right direction. Revenue grows at 52.7%, profits at 36.3%, and the PEG sits at 0.76 — below its growth rate. That combination is rare. Check Fundamentals of Paisalo Digital Limited.
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