Grasim Industries, Aditya Birla Fashion and Retail, Coal India among stocks to watch out for on May 25

New Delhi, <keyword id="640026" type="COMPANY" weightage="20" keywordseo="Muthoot-Finance-Ltd-">Muthoot Finance Ltd.</keyword> on Monday announced its 23rd series of Public Issue of Secured Redeemable Non-Convertible Debentures of face value of Rs 1,000 each. The Issue is with a base issue size of Rs 100 crores with an option to retain oversubscription upto Rs 1,900 crores aggregating up to tranche limit of Rs 2,000 crores. The Issue opens on October 27 and closes on November 20 with an option to close on such earlier date or extended date as may be decided by the Board of Directors or NCD committee, the company said in a statement. The Secured NCDs proposed to be issued under this Issue have been rated CRISIL AA/Positive by CRISIL and (ICRA) AA (Stable) by ICRA. The NCDs are proposed to be listed on BSE. The allotment will be on a first come first serve basis. There are six investment options for Secured NCDs with 'Monthly' or 'Annual' interest payment frequency or 'on maturity redemption' payments with coupons ranging from 7.15 per cent p.a to 8.00 per cent p.a. George Alexander Muthoot, Managing Director, <keyword id="389214" type="DOMAIN" weightage="20" keywordseo="Muthoot-Finance-Ltd">Muthoot Finance Ltd</keyword>., said "The issue will augment the company's long term funding requirements, thereby supporting the stable growth that our company envisages. "We expect the current issue too be well received by the market in line with our previous NCD issues as there are limited comparable investment avenues available." The funds raised through this issue will be utilised primarily for lending activities of the Company. The Lead Managers to the Issue are Edelweiss Financial Services Limited, J.M. Financial Limited, <keyword id="10170868" type="COMPANY" weightage="20" keywordseo="equirus-capital-private-limited">Equirus Capital Private Limited</keyword> and A.K. Capital Services Limited. <keyword id="10170867" type="COMPANY" weightage="20" keywordseo="idbi-trusteeship-services-limited">IDBI Trusteeship Services Limited</keyword> is the Debenture Trustee for the Issue. Link <keyword id="10170866" type="COMPANY" weightage="20" keywordseo="intime-india-private-limited">Intime India Private Limited</keyword> is the Registrar to the Issue. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/piramal-group-is-ready-for-acquisitions-in-both-pharma-and-financial-services/articleshow/78865009.cms" data-type="tilCustomLink">EXCLUSIVE: Piramal Group is ready for acquisitions in both pharma and financial services</a> <a href="https://www.businessinsider.in/stock-market/news/ril-future-retail-stocks-under-pressure-after-singapore-arbitration-court-rules-in-favour-of-amazon/articleshow/78865963.cms" data-type="tilCustomLink">RIL, Future Retail stocks under pressure after Singapore arbitration court rules in favour of Amazon</a> <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

Muthoot Finance to raise ₹2,000 crore through bond sale

<ul><li>Indian stock market indices opened in red on Thursday tracking sell-off in global markets.</li><li>The BSE Sensex was trading nearly a percent lower at 38,270.26 points; while Nifty50 was down or 0.81% at 11,315.60 points.</li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices, Sensex tumbled over 300 points in early trade on Thursday tracking the sell-off in global markets after the US Fed's gloomy economic outlook spooked investors. The BSE Sensex was trading nearly a percent lower at 38,270.26 points; while Nifty50 was down or 0.81% at 11,315.60 points. ICICI Bank was the top loser in the Sensex pack, shedding around 2%, followed by IndusInd Bank, HDFC, ITC, Asian Paints and Titan. On the other hand, NTPC, PowerGrid, Sun Pharma and Infosys were among the gainers. These are the top stocks that are buzzing the D-street today. Ruchi Soya dives 2% post Q1 earnings <div type="image" title="Ruchi SOya August 20" msid="77648242" hostid="261"></div> Patanjali Group firm Ruchi Soya shares declined 2% during the early trading hours on Thursday. The company reported around 13% decline in its net profit to ₹12.25 crore for the first quarter ended June 30. It also announced the resignation of Acharya Balkrishna as managing director of the company. Ram Bharat, Baba Ramdev’s younger brother, will replace Balkrishna. Muthoot Finance decline 5% <div type="image" title="Muthoot Fianance August 20" msid="77648250" hostid="261"></div> Shares of one of the largest NBFC gold loan lenders declined 5% during the trade hours on August 20. Although the company posted a 59% rise in standalone net profit in the June quarter, the inventors were cautious about sustainable growth. <a href="https://www.livemint.com/market/mark-to-market/gold-makes-muthoot-finance-shine-in-q1-but-investors-want-growth-sustainability-11597841856611.html">According to reports</a>, the recent surge in gold loans is because people are struggling to pay the dues as the pandemic impacted pockets. Therefore, the growth rates could peter out in the coming quarters. IRCTC lost over 1% during the morning trade <div type="image" title="IRCTC shares" msid="77648259" hostid="261"></div> Shares of partly state-owned hospitality company IRCTC shares declined nearly 1% after news surfaced that the government is looking to reduce its shareholding via an offer of sale. <a href="https://www.timesnownews.com/business-economy/companies/article/indian-railways-irctc-next-on-modi-government-s-disinvestment-agenda-report/639539">According to reports</a>, The department of investment and public asset management (Dipam) has invited bids from merchant bankers and brokers. It aims to divest part of the government’s shareholding of 87.4% in the IRCTC, which was listed on the bourses last year. Tata Power gained over 4% <div type="image" title="Tata power" msid="77648296" hostid="261"></div> Tata Power share soared 4% after the company said after launching its renewable energy InvIT this fiscal year, it would also explore merger and acquisition opportunities to strengthen its position in this space. HAL shares declined over 3% <div type="image" title="HAL" msid="77648311" hostid="261"></div> HAL lost nearly 3% during the morning trade hours after <a href="https://www.moneycontrol.com/news/business/economy/government-may-sell-5-stake-in-hal-via-offer-for-sale-5728591.html">news reports</a> surfaced that Centre is planning to sell 5% stake in state-owned defence player Hindustan Aeronautics (HAL) via an offer for sale. As of now, the central government owns a 90% stake in HAL, and it is expected to rake in up to ₹2,000 crore. DLF gained over 2% <div type="image" title="DLF" msid="77648341" hostid="261"></div> Realty major DLF gained over 2% during the morning trade after the US-based property player Hines secured a ₹2,600 crore loan from HDFC to construct a prime office complex in Gurugram. “The second joint venture between Hines and DLF has secured a construction loan of ₹2,600 crore from HDFC Ltd,” Hines said. <keyword id="6426359" type="COMPANY" weightage="20" keywordseo="pnb-housing-finance">PNB Housing Finance</keyword> up nearly 3% <div type="image" title="PNB Housing" msid="77648370" hostid="261"></div> PNB Housing Finance shares gained nearly 3% after its board on Wednesday approved raising up to ₹1,800 crore equity capital through a preferential or rights issue. Yes Bank and CG power gains nearly 3% and 5%, respectively <div type="image" title="Yes" msid="77648396" hostid="261"></div> Yes Bank shares were up 3% after the company exited <keyword id="9788653" type="COMPANY" weightage="20" keywordseo="cg-power-industrial-solutions-ltd">CG Power &amp; Industrial Solutions Ltd</keyword> (CG Power) by selling its entire stake-holding in the company. Whereas on the other hand CG Power also gained 5%. Yes Bank has sold 6,34,00,000 equity shares having a nominal value of ₹2 each, constituting 10.12% of the share capital of CG Power in various tranches, last being on August 18, 2020, the private sector lender said in a regulatory filing. SEE ALSO:<a href="https://www.businessinsider.in/business/startups/news/swiggy-ran-a-massive-thank-you-campaign-for-its-delivery-heroes-two-months-later-those-heroes-are-protesting-against-reduced-cuts-and-slashed-incentives/articleshow/77647502.cms" data-type="tilCustomLink"> Swiggy ran a massive ‘thank you’ campaign for its delivery heroes – two months later, those heroes are protesting against reduced pay and slashed incentives</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-sbi-dlf-pnb-housing-yes-bank-ruchi-soya-titan-company-and-more/articleshow/77646162.cms" data-type="tilCustomLink">Top stocks to watch today— SBI, DLF, PNB Housing, Yes Bank, Ruchi Soya, Titan Company and more</a>

Top stock movers on Dalal Street today —Ruchi Soya, Muthoot Finance, IRCTC, HAL, Tata Power, Yes Bank and more

New Delhi, Feb 14 () Muthoot Finance Ltd on Friday reported 66 per cent jump in its consolidated net profit to Rs 803 crore in the third quarter ended December 31.The company's net profit was at Rs 485 crore in the corresponding October-December period of 2018-19.Total income increased by 35 per cent to Rs 2,313 crore during the reported quarter of 2019-20 from Rs 1,717 crore in the year-ago period, it said in a release.The gold financing company said its loan portfolio registered an increase in net profit of 50 per cent to Rs 2,191 crore for the nine months of FY20 as against Rs 1,461 crore in the previous year.Loan assets stood at Rs 38,498 crore as on December 31, 2019 compared to Rs 32,470 crore as on December 31, 2018, a growth of 19 per cent.During the quarter, gold loan assets increased by Rs 2,783 crore.Stock of Muthoot Finance closed at Rs 746.60 on the BSE, up 0.81 per cent from previous close. KPM BAL

Muthoot Finance Q3 net jumps 66 pc to Rs 803 cr

<img class="gwt-Image" src="/photo/49268955.cms" style="width: 800px; height: 600px;" /> Selling pressure intensified just a bit on the two benchmarks on Thursday as the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> and the <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> slipped further in trade. Realty, Pharma, Telecom and Fertiliser stocks saw profit booking after a 6-day rally even as cement, banking and metal stocks continued their uptrend. Here is a snapshot of how the markets are shaping up before noon in the derivatives space. 
 
BENCHMARK INDEX FUTURES 
Nifty futures fell 0.4% to 8,162 points <keyword id="151330" type="COMPANY" weightage="100" keywordseo="Bank-Nifty">Bank Nifty</keyword> futures slipped 153 points to 17,536 
CNX IT futures rose 0.2% to 11,735 points 
 
TOP PRICE GAINERS 
Syndicate Bank 
Just Dial 
Jindal Steel 
 
TOP PRICE LOSERS 
Indiabulls Housing 
MindTree 
Bharti Infratel 
 
TOP OI GAINERS 
MindTree 
Tata Chemicals 
Union Bank 
 
TOP OI LOSERS 
Marico 
SRF LIC <keyword id="100080" type="ORGANIZATION" weightage="100" keywordseo="housing-finance">Housing Finance</keyword> 
 
TOP TRADED FUTURES 
Tata Motors 
SBI 
Tata Steel 
 
TOP TRADED CALLS 
Reliance Comm 90 Oct 
Tata Motors 350 Oct 
SBI 250 Oct 
 
 
TOP TRADED PUTS 
Tata Motors 320 Oct 
Tata Motors 340 Oct 
Tata Motors 330 Oct 
 
TOP VOLUME BUZZERS 
LML <keyword id="163007" type="COMPANY" weightage="100" keywordseo="Muthoot-Finance">Muthoot Finance</keyword> 
HEG Ltd. 
 
ADVANCE-DECLINE RATIOS 
NIFTY: 22/28 
SENSEX: 12/18 
FUTURES: 56/106 
BROADER MARKETS: 1,114/1,150 
 
(Image credits: Indiatimes)

Here's the simplest explanation to what's happening at the markets today

<keyword id="46652" type="COMPANY" weightage="20" keywordseo="Truck">Truck</keyword> major <keyword id="760813" type="DOMAIN" weightage="20" keywordseo="Ashok-Leyland-Ltd">Ashok Leyland Ltd</keyword>. on Thursday said it has secured an order for 1,400 <keyword id="2032741" type="PERSON" weightage="20" keywordseo="intermediate-commercial-vehicles">intermediate commercial vehicles</keyword> (ICV) from a logistics start-up Procure Box. In a statement issued here, <keyword id="6357085" type="COMPANY" weightage="20" keywordseo="ashok-leyland">Ashok Leyland</keyword> said the order encompasses the company's model Ecomet over the next 5-6 months. "Over the last few years, Ashok Leyland has made significant efforts to increase its market share in the ICV segment and our efforts have given rich dividends," Anuj Kathuria, Chief Operating Officer, Ashok Leyland said. SEE ALSO: <a href="https://www.businessinsider.in/business/news/indias-50-billion-wedding-industry-is-gearing-up-for-a-busy-winter/articleshow/78163437.cms" data-type="tilCustomLink">India’s $50 billion wedding industry is gearing up for a busy winter — business may have shrunk in size but it has not lost its sheen</a> <a href="https://www.businessinsider.in/business/corporates/news/muthoot-finance-says-this-years-growth-is-likely-to-exceed-guidance/articleshow/78159469.cms" data-type="tilCustomLink">EXCLUSIVE: Muthoot Finance says this year's growth is likely to exceed guidance</a>

Ashok Leyland bags orders for 1,400 trucks from logistics start-up Procure Box

<div type="image" title="RBI" agency="ANI" height="900" width="1200" msid="105464045" hostid="261" sizebytes="40796" caption="&amp;lt;p&amp;gt;RBI&amp;#39;s vigilance: New consumer credit norms to bolster India&amp;#39;s financial stability amidst surging loan growth&amp;lt;/p&amp;gt;"></div>In a proactive move aimed at mitigating potential systemic risks associated with the rapid growth of <keyword id="437168" type="General" weightage="20" keywordseo="consumer-credit" source="Orion">consumer credit</keyword>, the Reserve Bank of India (<keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>) has implemented stringent measures, impacting both banks and non-bank financial institutions (NBFIs). <keyword id="125045" type="General" weightage="20" keywordseo="fitch-ratings" source="Orion">Fitch Ratings</keyword> has provided insights into the repercussions of these regulatory adjustments on the financial sector. The central focus of the regulatory adjustments is to mandate banks and NBFIs to allocate more capital against unsecured consumer credit. Fitch Ratings views these changes as a credit-positive effort by regulatory authorities to control emergent risks in consumer credit. Notably, the growth of unsecured credit card loans and personal loans by banks witnessed an impressive 29.9 per cent and 25.5 per cent year-on-year increase, respectively, in the first half of the financial year ending March 2024. This surge in consumer credit raised concerns, prompting the need for preventive measures. The increasing exposure to unsecured consumer credit considered a riskier <keyword id="6360217" type="General" weightage="20" keywordseo="loan" source="Orion">loan</keyword> category, signals a greater risk appetite among banks and NBFIs. This trend is attributed to the institutions seeking to protect net interest margins (NIMs) amid fierce competition for secured retail loans. The regulatory changes introduce higher risk weightings, aligning for both banks and NBFIs. While risk weightings for credit-card lending increase to 125 per cent (from 100 per cent previously) for NBFIs, banks maintain a higher 150 per cent. Microfinance is excluded from higher risk weights for NBFIs, distinguishing it from banks. Fitch Ratings estimates that the measures may lower the common equity Tier 1 (CET1) ratio of the banking system by around 30 basis points. The impact varies for Fitch-rated banks, ranging from 6 to 34 basis points, with a double-digit impact expected for private banks like State Bank of India (SBI) and Canara Bank. Private banks, with relatively better CET1 capitalization, are expected to maintain reasonable capitalization even after the changes. The measures, however, may not significantly lower banks' capital scores or standalone Viability Ratings (VRs), though SBI's VR headroom could narrow. Fitch-rated NBFIs, including Shriram Finance Limited, Muthoot Finance Ltd, IIFL Finance Limited, and Manappuram Finance Limited, witness an impact on capitalization ratios, loan growth, and future asset quality. However, the overall impact is expected to be limited, with these entities benefiting from reduced systemic risk. NBFIs may experience a rise in bank funding costs by 40 to 60 basis points. This assumes that banks pass on capital costs from higher risk weights on loans to NBFIs. Larger NBFIs are better positioned to negotiate favorable terms with banks, while lower-rated entities could face greater increases. Loans to housing finance companies and NBFIs eligible for priority sector classification are excluded from the adjustment, benefiting entities like Shriram due to their priority sector exposure. The regulatory changes aim to strike a balance between fostering consumer credit growth and preventing the buildup of systemic risks. The phased implementation of these measures underscores the regulators' commitment to maintaining financial stability while allowing financial institutions time to adapt to the new norms. As India's financial landscape undergoes these adjustments, stakeholders are closely monitoring the impact on lending practices, risk management, and overall economic resilience. (ANI)

RBI's vigilance: New consumer credit norms to bolster India's financial stability amidst surging loan growth

New Delhi, Dec 20 () The Competition Commission of India on Friday said it has given approval under the green channel route to acquisition of over 25 per cent stake in Adani Electricity Mumbai Ltd and Adani Electricity Mumbai Services Ltd by Qatar Holding LLC.
 The Qatar Investment Authority (QIA) earlier in December agreed to buy a 25.1 per cent stake in Adani Electricity Mumbai Ltd -- the firm that distributes power to three million consumers in Mumbai -- for Rs 3,200 crore.
 "Adani Transmission Limited (ATL), Adani Electricity Mumbai Ltd (AEML) and a subsidiary of Qatar Investment Authority (QIA) have signed definitive agreements for the sale of a 25.1 per cent stake in AEML to QIA and for a shareholder subordinated debt investment by QIA in AEML.
 "The total QIA investment in AEML will be approximately Rs 3,200 crore," a company statement had said.
 Qatar Holding LLC, registered as a foreign portfolio investment with Sebi, is an investment holding company of the QIA, the Competition Commission of India (CCI) said.
 Under the green channel route, CCI also approved acquisition of IDBI Asset Management Ltd and IDBI MF Trustee Company Ltd by Muthoot Finance Ltd.
 Muthoot Finance in November said it has "entered into a definitive agreement to acquire IDBI Asset Management (AMC) and IDBI MF Trustee Company".
 Upon completion of the transaction, Muthoot Finance will purchase 100 equity shares of IDBI AMC and IDBI MF Trustee Company held by the sellers for a total consideration of Rs 215 crore, it had added.
 Besides, the fair trade regulator also approved acquisition of GVK Airport Holdings Ltd by Green Rock B 2014 Ltd, the National Investment and Infrastructure Fund (NIIF) and Indo-Infra Inc.
 "The notification relates to acquisition of shares of, and control over, GVKAHL...and through GVKAHL (and/or through its affiliates), control over GVKAHL's subsidiaries, Mumbai International Airport Limited and Navi Mumbai International Airport Private Limited by Green Rock, NIIF, and Indo-Infra," CCI said in a release.
 Green Rock, a trustee of Green Stone Trust, has made certain investments in India and does not carry out any business activities directly in India. NIIF is an alternative investment fund with a focus to provide long-term capital to the country's infrastructure sector, CCI said.
 Indo-Infra is a holding company and part of the PSP group which is a Canadian Crown corporation established by the Canadian Parliament under the Public Sector Pension Investment Board Act, it added.
 The green channel concept -- recommended by the high-level panel that reviewed competition law in August -- allows for an automatic system for speedy approval for certain categories of merger and acquisitions.
 Under the framework, green channel approvals can be availed in combinations where there are no horizontal overlaps, no existing or potential vertical relationships and no complementary business activities between the combining parties, or their respective group entities, or involving any entity in which any of the combining parties hold shares or have control. SRS HRS

CCI approves under green channel Qatar Holding LLC's stake buy in Adani Electricity Mumbai

<ul><li>At 7:45 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to begin on a tepid note on Wednesday, led by mixed cues from the global markets. The Indian markets ended at record highs on Tuesday, with Nifty inching closer to the 14,000 mark. At 7:45 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50. On Tuesday, the US stocks pulled back from record highs as hopes for $2,000 direct stimulus payments faded. The Dow Jones Industrial Average closed 0.22% lower, and the S&amp;P 500 was down 8 points. These are the stocks to watch out for during the trading session today: Jindal Stainless Jindal Stainless Hisar (JSHL) said its board had approved the company’s merger into the country’s largest stainless steel maker Jindal Stainless Ltd (JSL). Having a total melting capacity of 0.8 million tonnes per annum (MTPA), Hisar-based JSHL is the largest speciality stainless steel producer in India with a diversified value-added product portfolio. Future Retail &amp; RIL After Amazon, the<a href="https://www.timesnownews.com/business-economy/companies/article/future-retail-writes-to-sebi-asks-to-expedite-review-of-deal-with-reliance-retail-quickly/700431"> Kishore Biyani-led Future Group has written to market</a> regulator SEBI to review and approve its ₹24,713 crore deal with RIL. Future Group has requested SEBI to expedite the review of the proposed deal and issue a no-objection certificate, while Amazon had urged that the review of the “impugned transaction” be suspended. Jindal Steel &amp; Power Jindal Steel and Power (JSPL) said it had received the ‘regular rail supplier’ status from the Indian Railways. In a statement, JSPL said it had become the first private company in India to be awarded the ‘regular supplier’ status from the national transporter. SBI, PNB, HDFC Bank, ICICI Bank, Manappuram Finance, Muthoot, other NBFCs and banks SBI, PNB, HDFC Bank, ICICI Bank, Manappuram Finance, Muthoot, other NBFCs and banks will be in focus during the trade today. The <a href="https://timesofindia.indiatimes.com/business/india-business/financial-sector-faces-challenging-times-ahead-rbi/articleshow/80015883.cms">Reserve Bank of India (RBI) in a report</a> on Tuesday said the India's financial sector should brace for challenging times ahead with an increased risk of deterioration in asset quality and lower demand for loans. UPL UPL has completed the pre-payment of $410 million of 3.25% Senior Notes due October 2021. The company said that the pre-payment, which concluded on December 28, was done using the cash on its balance sheet. This prepayment is in line with its commitment to reduce debt. TCS &amp; Wipro The ₹16,000-crore buyback of Tata Consultancy Services, which will end on January 1, has received an overwhelming response from investors and has been subscribed 163% so far. Similarly, for Wipro, today is the second day to <a href="https://www.businessinsider.in/stock-market/news/wipro-share-buyback-offer-should-you-sell-your-shares-heres-what-analysts-are-saying/articleshow/80006272.cms">subscribe to ₹9,500 crore buyback</a>. The issue for Wipro will close on January 11. IRCTC Indian Railways will operate a special Mumbai-Delhi Rajdhani train 4 days a week. IIFL Securities The ₹90-crore share buyback for IIFL Securities will open today. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/mitch-mcconnell-says-the-senate-will-consider-trumps-demand-for-2000-stimulus-checks-but-rejects-initial-vote/articleshow/80017236.cms" data-type="tilCustomLink">Mitch McConnell says the Senate will consider Trump's demand for $2,000 stimulus checks but rejects initial vote</a> <a href="https://www.businessinsider.in/thelife/news/american-airlines-just-completed-the-boeing-737-maxs-first-passenger-flight-in-the-us-since-march-2019/articleshow/80016117.cms" data-type="tilCustomLink">American Airlines just completed the Boeing 737 Max's first passenger flight in the US since March 2019</a> <a href="https://www.businessinsider.in/india/news/new-strain-of-uk-covid-19-virus-is-a-lot-more-contagious-warns-indias-health-ministry/articleshow/80011618.cms" data-type="tilCustomLink">The new strain of COVID-19 is a lot more contagious, warns India's Health Ministry</a>

Top stocks to watch — SBI, HDFC Bank, Wipro, RIL, Future Retail, TCS, Jindal Stainless, UPL, IRCTC, and others

New Delhi, Jan 2 () The BSE on Thursday said nine companies have filed applications with the bourse to list their commercial papers for a total issue size of Rs 10,480 crore.
 The firms that have made applications to list their CPs with the stock exchange are Power Grid Corporation of India Ltd, Housing &amp; Urban Development Corporation Ltd, Muthoot Finance Ltd, Axis Finance Ltd, Grasim Industries Ltd, Vardhaman Textiles Ltd, SBI Cards and Payment Services Ltd, Kalpataru Power Transmission Ltd, and Kotak Mahindra Prime Ltd, the BSE said in a release.
 After the process, the effective date of listing commercial papers (CPs) with the exchange will be January 3, it added.
 "Till date (from November 2019), 56 issuers have done 335 issuances of commercial papers and have successfully listed CPs of Rs 1,21,560 crore on the BSE. The weighted average yield of these issuances is 6.08 per cent with an average tenor of 130 days," the exchange noted.
 A CP is an unsecured money market instrument issued in the form of promissory notes that enables highly rated corporate borrowers to diversify their sources of short-term borrowing and provides an additional instrument to investors.
 Such instruments can be issued for maturities between a minimum of 7 days and a maximum of one year from the date of issue.
 CPs are usually issued at a discount from face value and reflect prevailing market interest rates. AST HRS

9 firms to list commercial papers on BSE for Rs 10,480 cr issue size

New Delhi, Jan 10 () Leading stock exchange BSE on Friday said 10 companies, including Larsen &amp; Toubro Ltd, Sun Pharmaceutical Industries Ltd and BHEL, have filed applications with the bourse to list their commercial papers (CPs) for a total issue size of Rs 5,745 crore.
 Larsen &amp; Toubro Ltd, Manappuram Finance Ltd, ECL Finance Ltd, Sun Pharmaceutical Industries Ltd and BHEL have made applications to list CPs for issue size of Rs 2,995 crore, Rs 775 crore, Rs 500 crore, Rs 500 crore and Rs 450 crore, respectively, the BSE said in a release.
 Besides, Redington (India) Ltd, Kotak Mahindra Prime Ltd, Muthoot Homefin (India) Ltd, The Ramco Cements Ltd and IIFL Wealth Finance Ltd have filed applications to list their CPs for issue size of Rs 175 crore, Rs 140 crore, Rs 100 crore, Rs 75 crore, and Rs 35 crore, respectively.
 After the process, the effective date of listing CPs with the exchange will be January 13, it added.
 "Till date 77 issuers have done 582 issuances of commercial papers and have successfully listed CPs of Rs 1,72,984 crore on BSE. The weighted average yield of these issuances is 6.13 per cent with an average tenor of 149 days," BSE noted.
 A CP is an unsecured money market instrument issued in the form of promissory notes that enables highly rated corporate borrowers to diversify their sources of short-term borrowing and provides an additional instrument to investors.
 Such instruments can be issued for maturities between a minimum of 7 days and a maximum of one year from the date of issue. 
 CPs are usually issued at a discount from face value and reflect prevailing market interest rates. AST
RVK

10 firms to list commercial papers on BSE for Rs 5,745 crore issue size

<ul><li>The BSE Sensex was trading 0.57% higher at 38,746.09.</li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices Sensex jumped over 200 points in early trade on Wednesday tracking positive cues from global markets and foreign fund inflows. The BSE Sensex was trading 0.57% higher at 38,746.09; while Nifty50 was up 0.56% at 11,448.95. SBI was the top gainer in the Sensex pack, rising around 2%, followed by L&amp;T, M&amp;M, ICICI Bank, Sun Pharma, Axis Bank, ITC and Bajaj Auto. On the other hand, HCL Tech, Nestle India, Tata Steel, Kotak Bank, and Infosys were among the top losers. These are the top stocks that are buzzing the D-street today. SBI shares up over 2% during the initial trade hours <div type="image" title="SBI August 19" msid="77627266" hostid="261"></div> State Bank of India shares gained over 2% after news surfaced that SBI is raising up to ₹10,000 crore in a bond sale. According to <a href="https://economictimes.indiatimes.com/markets/bonds/sbi-to-raise-up-to-rs-10000-crore-through-issue-of-tier-ii-bonds/articleshow/77625108.cms">reports</a>, it is this year’s first bond sale by the country’s biggest mass-lender and is expected to draw large domestic institutional investors, such as state-owned LIC and EPFO. Zee Entertainment shares gained over 4% <div type="image" title="Zee Enter" msid="77627333" hostid="261"></div> Despite posting 94.3 % fall in its net profit to ₹30.4 crore, Zee Entertainment shares were up 4%. The company has appointed Subhash Chandra as Chairman Emeritus and R Gopalan as Chairman of the board. Brokerage house Emkay believes that consistency and delivery will win back trust, they maintain ‘Hold’ rating with target at ₹190. Kotak also believes that this is a step in the right direction, but few more needed for further re-rating. Yes Bank shares advance 5% <div type="image" title="Yes bank August 19" msid="77627813" hostid="261"></div> Yes Bank shares soared 5% after the private sector lender repaid the central bank’s ₹35,000 crore out of the ₹50,000 crore of Special Liquidity Facility. It also divested more than 8% stake worth over ₹75 crore in CG Power and Industrial Solutions through open market transactions. Indiabulls shares opened 2% higher <div type="image" title="Indiabulls" msid="77627848" hostid="261"></div> Indiabulls was up 2% during the early trade hours after the Bengaluru-based realty firm Embassy Group signed an agreement to merge its various housing and commercial projects with Indiabulls Real Estate Ltd (IBREL) and take control of the merged entity. Embassy Group already has around 14% stake in Mumbai-based IBREL, and the same will increase to 45% after the merger of assets of these two companies. RIL shares up 1% after Netmeds acquisition <div type="image" title="RIL August 19" msid="77627935" hostid="261"></div> Reliance Industries shares gained nearly 1% after its subsidiary Reliance Retail Ventures Limited (RRVL) had acquired a majority equity stake in Vitalic Health Pvt Ltd and its subsidiaries (collectively known as Netmeds) for a cash consideration of approximately ₹620 crore. ICICI gained 2% in initial trading <div type="image" title="ICICI Bank August 19" msid="77627981" hostid="261"></div> ICICI Bank shares soared 2% after the Chinese central bank, People’s Bank of China acquired a very small stake in ICICI Bank through the recently closed ₹ 15,000 crore share sale by the country’s second-largest private sector lender. Uflex shares gained 6% <div type="image" title="uflex August 19" msid="77628006" hostid="261"></div> The packaging materials and solution company Uflex shares touched 52-week high after it reported over two-fold jump in its consolidated net profit to ₹196.54 crore for the first quarter ended June 30 Dilip Buildcon shares gained 4% <div type="image" title="Dilip August 19" msid="77628035" hostid="261"></div> Dilip Buildcon shares gained 4% after the company said it has received a letter of acceptance (LoA) for a new project worth ₹1,334.95 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/ril-icici-bank-zee-ent-ruchi-soya-dixon-tech-cg-power-muthoot-finance-top-stocks-to-watch-today/slidelist/77625323.cms" data-type="tilCustomLink">Top stocks to watch today— RIL, ICICI Bank, Zee Ent, Ruchi Soya, Dixon Tech, CG Power, Muthoot Finance and more</a> <a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms" data-type="tilCustomLink">With Reliance buying Netmeds and PharmEasy merging with MedLife, Amazon and Flipkart are in for a tougher competition than they would like</a>

Top stock movers on Dalal Street today —SBI, Yes Bank, Indiabulls, RIL, Uflex and more

New Delhi, Mar 27 () From Prime Minister Narendra Modi to rating agencies and economists, all welcomed the Reserve Bank of India's steps to reduce the cost of borrowing and infusing liquidity in the market in its war against the impact of coronavirus pandemic. Following are the comments made by key leaders, businessmen and economists:* Prime Minister Narendra Modi: Today RBI has taken giant steps to safeguard our economy from the impact of the Coronavirus. The announcements will improve liquidity, reduce the cost of funds, help middle class and businesses.* Finance Minister Nirmala Sitharaman: Appreciate RBI Governor Shaktikanta Das' reassuring words on financial stability. The 3-month moratorium on payments of term loan installments (EMI) and interest on working capital give much-desired relief. The slashed interest rate needs quick transmission.* Alka Anbarasu of Moody's Investors Service: "RBI's guidelines permitting banks and non-bank financial institutions to grant a 3-month moratorium on loan repayments will soften the negative credit impact that the coronavirus has had on their borrowers in the near term. However, there are still material downside risks to asset quality given the halt in India's economy, the impact of which will not be known until a few quarters after the end of the moratorium.* SBI Chairman Rajnish Kumar: The RBI policy announcements are bold, decisive, compelling and with a humane touch in attenuating to the needs of the economy to fight through the pandemic.The large rate cut, the adjustment in capital conservation buffer, the moratorium on repayments and the bazooka of conventional CRR cut and unconventional liquidity measure of incentivising banks to support CP market - all will help financial markets stabilise, lead to immediate rate transmission and address the credit needs of the real economy. Given that we are in exceptional times, RBI has played the role of championing the cause for the economy and financial system!* Cyril Shroff, Managing Partner, Cyril Amarchand Mangaldas: The RBI has unleashed a bazooka to deal with the economic pain and uncertainty prevailing. This provides a much-needed respite for borrowers and lenders in these trying circumstances and should soften the recovery period.* BJP president Jagat Prakash Nadda: RBI decision will help the middle class. I welcome these progressive and timely measures.* Oil Minister Dharmendra Pradhan: Moratorium on payment of interest on loans and working capital will provide much-needed relief to both people and businesses. * Raymond Ltd chairman and managing director Gautam Hari Singhania: The moves announced by RBI today are decisive and a comprehensive package to ensure the stability of financial markets making borrowing costs as low as possible with businesses around the country are closed and the economy is showing recessionary trends.The steps to ease working capital pain, reduced liquidity costs and providing moratorium on term loans will alleviate stress across various sectors.* Essar Ports CEO Rajiv Agarwal: Moratorium of 3 months for interest and principle payments along with a sharp cut in the CRR will ease the liquidity and help industry as well other segments of the economy. More steps might be needed once the Government comes out with the much-needed stimulus package to overcome the economic crisis arising from COVID-19.* Anshuman Magazine, CBRE: RBI is in a mission mode to nurture the market, preserve financial stability and the timing here is crucial. The decision to defer installments of all term loans by three months will provide the necessary support to homebuyers as well.* Arun Singh, Chief Economist, Dun and Bradstreet: Strong proactive measures have been taken by RBI to address the need of the country in times of heightened uncertainty. Such robust measures were unanticipated and would restore the confidence of the market, restrict foreign capital outflows, both in the debt and equity market, and will help in arresting depreciation of rupee.Mitigating debt servicing burden to prevent transmission of financial stress to the real economy was much needed as various countries globally have deferred loan payments from three to six months. However, banks might face difficulties meeting the capital adequacy norms which we expect will be further relaxed by the RBI during the short term.* Gayathri Parthasarathy, KPMG: It is a good decision and the time is right for RBI to intervene and announce these measures. The steps to ease working capital pain, reduce liquidity costs and provide a moratorium on term loans will alleviate stress across various sectors. Liquidity will definitely help the current situation and I strongly believe the rates could go down further by 50 to 75 basis points.* Sanjay Doshi, KPMG: Onus is now on the financial institutions to ensure better credit support to the corporate. However, given the challenging times, many corporates will have significant pressure on their income stream. Banks will have a tough job in deciding the allocation of credit.* Muthoot Pappachan Group Chairman Thomas John Muthoot: Various measures to nudge banks to lend and to inject liquidity into the system, will help in passing the benefit to the potential borrowers.* Radhika Rao, Economist, DBS Group Research: RBI pulled all the stops, delivering an aggressive rate cut. Its moves provide the right tailwind for the economy once the lockdown is complete. ANZBAL

PM, FM, industry welcome RBI 'bazooka' of interest rate cut, liquidity measures

<img class="gwt-Image" src="/photo/51195156.cms" />From emphasis on agricultural productivity to huge allocation for MNREGA to fiscal discipline, experts said Finance Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> has presented a well-balanced and a reformist budget. 
 
Experts lauded reducing rural distress and maximising returns for farmers. 
 
Richard van der Merwe, CEO of Bayer CropScience Ltd, said the outlay towards development of roads and national highways will help in the movement of perishable goods and driving accessibility and price parity across the country for end consumers. 
 
“The Finance Minister’s proposal to focus on agriculture and farmers' welfare and allocation of over Rs. 5000 crore towards crop insurance scheme, direct benefit transfers for fertilizers, enhanced irrigation acreage and agri credit targets to the tune of Rs. 9 lakh crore is a very welcome move,” he said. 
 
Also, Jaitley said India stood ground in difficult times and amid weak global environment. 
 The government is firm on its course towards fiscal consolidation without compromising on its development agenda and 3.5% <keyword id="6365485" type="UNKNOWN" weightage="20" keywordseo="fiscal-deficit">fiscal deficit</keyword> is targeted for FY 2017. 
 
“With aim of 3.5% fiscal deficit the approach toward fiscal consolidation is a right approach. Focus on rural economy will benefit companies like us which has more than 90% of its clients’ base staying in rural areas. Allocation of 3800 crore to MGNREGA is also a positive. It will boost the rural economy in difficult times for agriculture. Overall a very mature and reformist budget,” said Sadaf Sayeed, Chief Executive Officer, Muthoot Microfin Ltd. 
 Jaitley, in his <keyword id="117156" type="UNKNOWN" weightage="20" keywordseo="Budget-speech">budget speech</keyword>, also rolled out several reforms, one of which was PM Jan Aushadhi Yojana, assuring quality medicines at affordable prices. 
 
Pradeep Dadha, Founder &amp; CEO, Netmeds.com, said, “The budget announced opening of 3,000 stores in 2016-17 under Prime Minister's Jan Aushadhi Yojana is a very welcome and innovative move by the government. 
 
However, the tourism industry was not that happy with the budget proposals. 
 
Sharat Dhall, President, Yatra.com said, “The much awaited budget has turned out to be very friendly for the Aam Aadmi but there could have been a bit more in it for the corporate sector. The proposal to increase the tax on ATF (Aviation Turbine Fuel) will result in increase in airfares and dampen air passenger growth which could have been a catalyst for economic growth.” 
 
Still, the pitch to revamp roads and airports across the country was lauded, which would connect people to unexplored destinations. 
 
(Image: Indiatimes)

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