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<ul><li>The capital raised would be used for working capital requirements of the company .</li><li><keyword id="127786" type="General" weightage="100" keywordseo="wabag" source="Orion">WABAG</keyword> has developed three dedicated research and development centres in Austria, <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, and Switzerland.</li><li>This would be Asian Development Bank's first investment in a water sector company in the country.</li></ul> Water treatment player <keyword id="175402" type="General" weightage="50" keywordseo="va-tech-wabag-ltd" source="Orion">Va Tech WABAG Ltd</keyword> has signed an agreement with Asian Development Bank to raise Rs 200 crore through unlisted non-convertible debentures, the company said on Friday. This would be Asian Development Bank's first investment in a water sector company in the country. "..signed an agreement with Asian Development Bank towards raising Rs 200 crore through unlisted non-convertible debentures carrying a five year and three months tenure which will be subscribed by <keyword id="6355976" type="General" weightage="80" keywordseo="adb" source="Orion">ADB</keyword> over 12 months," Va Tech WABAG said in a statement. The capital raised would be used for working capital requirements of the company and would be within the current borrowing limits thereby not increasing the debt-level of the company, it said. "This is an important milestone for WABAG, as we add another feather to our cap with this strategic funding tie-up with ADB. ADB's decision to collaborate with WABAG, in their first private sector water investment in India, is a key validation of its leadership," said chief financial officer of the company <keyword id="15622768" type="General" weightage="50" keywordseo="skandaprasad-seetharaman" source="Orion">Skandaprasad Seetharaman</keyword>. "This is, indeed, a great moment for us to be directly associated with ADB, showing ADB's confidence in WABAG's credibility and credentials in the water sector," he said. WABAG has developed three dedicated research and development centres in Austria, India, and Switzerland. ADB (private sector operations) director general <keyword id="15413964" type="General" weightage="50" keywordseo="suzanne-gaboury" source="Orion">Suzanne Gaboury</keyword> said, "This project is ADB's first private sector financing in India's water sector and will help to crowd in urgently needed international and domestic financing for the sector to ease water stress as demand increases." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rbi-pauses-onboarding-of-online-merchants-by-paytm-payments-services-firm-says-no-material-impact-on-biz/articleshow/95780851.cms">RBI pauses onboarding of online merchants by Paytm Payments Services; firm says no material impact on biz</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/a-year-after-market-debut-paytm-is-the-worst-performer-among-recent-large-ipos-cartrade-policybazaar-and-lic-join-the-party/articleshow/95762071.cms">A year after market debut, Paytm is the worst performer among recent large IPOs – Cartrade, Policybazaar and LIC join the party</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/heres-what-the-governments-new-norms-to-curb-fake-online-reviews-ratings-include/articleshow/95757857.cms">Here's what the government's new norms to curb fake online reviews &amp; ratings include</a>

ADB, Wabag sign USD 25 mn debt facility for sanitation, water security in India

<ul><li>In the Asian market, the <keyword id="90570" type="ORGANIZATION" weightage="20" keywordseo="SGX-Nifty">SGX Nifty</keyword> was trading 0.35% higher at 7:49 am, 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>Amidst mixed cues from the global markets, the Indian equities are likely to open on a muted note. In the Asian market, the SGX Nifty was trading 0.35% higher at 7:49 am, indicating a green start for Nifty50. However, the US markets ended Tuesday lower with a sell-off in some of the biggest technology companies. This came after US President Donald Trump called off negotiations with Democratic lawmakers on coronavirus relief legislation until after the election. Also, commentary from Fed chair Jerome Powell who warned that US’ economic recovery remains far from complete, and The Dow Jones Industrial Average shed over 375.88 points, whereas the S&amp;P 500 was down over 1.40%. These are the stocks to watch out for during the trading session on October 7: Reliance Industries (RIL) Relentless fund raise continues at Reliance Retail. The Abu Dhabi Investment Authority has invested ₹5,512.50 crore in Mukesh Ambani’s Reliance Retail for 1.20% equity stake. The shares of RIL ended flat yesterday. TCS I-T behemoth TCS will kickstart the earnings season later today. Q2 earnings are expected to be healthy, led by <a href="https://www.businessinsider.in/business/corporates/news/tcs-expected-to-post-higher-revenue-and-margins-led-by-a-streak-of-deal-wins-over-the-last-three-months/articleshow/78511834.cms">deal wins</a>. All eyes will be on the buyback announcement as well. The shares of TCS ended 0.45% higher yesterday. SBI The government has appointed SBI’s senior-most Managing Director, Dinesh Kumar Khara, as the chairman of the country’s largest lender. Khara will replace Rajnish Kumar, who completed his three-year term on Tuesday (October 6). The shares of SBI ended 1.56% higher yesterday. Bajaj Finance The non-banking finance company, Bajaj Finance informed investors that its consolidated deposit book rose by 22.5% to ₹21,600 crore as of September 2020. In a regulatory filing, the company said it acquired 1.2 million (12 lakh) new customers during the July-September quarter. The shares of Bajaj Finance ended 3% higher yesterday. Dixon Tech Dixon Tech subsidiary Padget Electronics has been chosen as the domestic mobile manufacturing partner in the production linked scheme; the company informed investors. It said it applied for two slots and won one. The shares of Dixon Tech ended 1.36% lower yesterday. VA Tech Wabag The water treatment company Va Tech Wabag<a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/c77e7e43-1f8b-4f88-9fa7-4a7df0abf367.pdf"> informed investors</a> that it had dissolved its Brazilian arm VA Tech Wabag Brazil Servicos De Agua E Saneamento Ltda, Brazil. The shares of VA Tech Wabag ended 1.46% lower yesterday. Matrimony.com The management of the match-making website clarified that during the conference, they said they were expecting double-digit growth for ‘billing’ (sales) and not for revenue in the matchmaking business. The shares of Matrimony.com ended 0.74% higher yesterday. Majesco and Zee Learn Majesco and Zee Learn will remain in focus ahead of their financial results due later today. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/house-lawmakers-say-facebook-google-apple-and-amazon-are-monopolies-that-need-to-be-more-heavily-regulated-and-potentially-broken-up/articleshow/78524642.cms" data-type="tilCustomLink">House lawmakers say Facebook, Google, Apple, and Amazon are monopolies that need to be more heavily regulated — and potentially broken up</a> <a href="https://www.businessinsider.in/politics/world/news/trump-tells-his-team-to-end-stimulus-negotiations-until-after-the-election/articleshow/78524017.cms" data-type="tilCustomLink">Trump tells his team to end stimulus negotiations until after the election</a>

Top stocks to watch — SBI, RIL, TCS, Bajaj Finance, Dixon Tech and others

<ul><li>The 30-share BSE index was trading 62 points lower, and the NSE Nifty slipped 0.12% at 10:05 am.</li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing 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, Sensex and Nifty turned choppy on Wednesday after trading in green territory for a brief while. Financial stocks led the fall amid mixed cues from global markets as investors remained cautious after the first US presidential debate. The 30-share BSE index was trading 62 points lower, and the NSE Nifty slipped 0.12% at 10:05 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddy's Laboratories </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Petroleum </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">United Phosphorus Ltd </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharmaceutical Industries </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi's Laboratories </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td></tr></tbody></table>*as of September 30, 10:00 am These are the top stocks in news today. VA Tech Wabag up over 6% The shares of VA Tech Wabag gained 6% in an otherwise volatile market after its board approved allotment of 75 lakh equity shares at a price of ₹160 apiece aggregating ₹120 crore by way of the preferential issue. The list of proposed investors includes Rekha Rakesh Jhunjhunwala, Basera Home Finance, Sushma Anand Jain, and Anand Jaikumar Jain. Reliance Industries (RIL) open 1% higher The shares of Mukesh Ambani owned RIL opened 1% higher after its Retail venture, Reliance Retail <a href="https://www.businessinsider.in/business/news/reliance-retail-seals-its-third-deal-this-month-general-atlantic-to-invest-3675-crore/articleshow/78397878.cms">sealed its third deal</a> this month. The American growth equity firm, General Atlantic has invested ₹3,675 crore into Reliance Retail for a 0.84% stake in the company. Future Enterprises down 3% The shares of Future Enterprises lost nearly 3% value after the Kishore Biyani-led company reported a fresh default on interest payment of non-convertible debentures (NCDs). Future Enterprises said it had defaulted on interest payment of ₹16.11 crore for a gross principal amount of ₹332 crore. This also dragged other Future Group stock such as — Future Retail and Future Lifestyle Fashions down 3%, among others. Housing Development Finance Corp (HDFC) trades higher after amalgamation nod The shares of Housing Development Finance Corp (HDFC) was trading nearly a percent higher after National Company Law Tribunal (NCLT), Mumbai sanctioned the scheme of amalgamation for the merger of HDFC ERGO Health Insurance into HDFC ERGO. Indiabulls Housing Finance surges 4% The shares of the leading private sector mortgage lender Indiabulls Housing Finance gained 4% after it raised another ₹630 crore by selling a part of its stake in UK-based bank Oak North to Toscafund Asset Management. Punjab National Bank and Lakshmi Vilas Bank trade lower The shares of Punjab National Bank was trading 2% lower after <a href="https://www.business-standard.com/article/finance/rbi-sounds-out-pnb-on-acquisition-of-beleaguered-lakshmi-vilas-bank-120092901633_1.html">reports surfaced that RBI has asked Punjab National Bank to take over</a> Lakshmi Vilas Bank (LVB) in case the beleaguered lender’s proposed transaction with Clix Capital does not materialise. Lakshmi Vilas Bank was also trading 5% lower during the early trading hours. PVR soars 3% The shares of cinema giant PVR Limited soared 3% ahead of the board meeting on October 5 to consider the proposal of raising funds via non-convertible debentures. SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-retail-seals-its-third-deal-this-month-general-atlantic-to-invest-3675-crore/articleshow/78397878.cms" data-type="tilCustomLink" style="">Reliance Retail seals its third deal this month – General Atlantic to invest ₹3,675 crore</a> <a href="https://www.businessinsider.in/science/space/news/after-the-moon-mars-is-getting-laser-reflecting-mirror-to-help-future-landings-on-the-red-planet/articleshow/78385935.cms" data-type="tilCustomLink">After the Moon, Mars is getting laser-reflecting mirror to help future landings on the Red Planet</a>

Top stock movers — RIL, Future Group companies, VA Tech Wabag, PNB, HDFC, and more

<ul><li>At 7:49 am, the SGX Nifty was trading 0.19% higher, indicating a positive 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>Amid the mixed cues from the global market, the Indian stock market is likely to open on a cautious note. At 7:49 am, the SGX Nifty was trading up 0.31%, indicating a green start for Nifty50. The US stocks ended the Tuesday lower as investors awaited further stimulus. The Dow Jones Industrial Average closed 0.48% lower; whereas the S&amp;P 500 was down 16 points on Tuesday. The picture across Asia this morning is positive on the back of encouraging PMI data. These are the stocks to watch out for during the trading session on September 30: HDFC National Company Law Tribunal, Mumbai, has sanctioned the scheme of amalgamation for the merger of HDFC ERGO Health Insurance into HDFC ERGO. The shares of HDFC ended 2% higher yesterday. Future Enterprises Kishore Biyani-led Future Group company, Future Enterprises, reported a fresh default on interest payment of non-convertible debentures (NCDs) on Tuesday. In a stock-exchange filing, the company said it had defaulted on interest payment of ₹16.11 crore for a gross principal amount of ₹332 crore. This is the third default in at least one month. This may also move other Future Group stocks such as— Future Retail, Future Lifestyle Fashion, Future Consumer Limited, among others. The shares of Future Enterprises ended 5% higher yesterday. Indiabulls Housing Finance One of the leading private sector mortgage lenders, Indiabulls Housing Finance, raised another ₹630 crore by selling a part of its stake in UK-based bank Oak North to Toscafund Asset Management. The shares of Indiabulls Housing Finance ended 2.2% lower yesterday. PVR Limited The board of cinema giant PVR will meet on October 5 to consider the proposal of raising funds via non-convertible debentures. The shares of PVR Limited ended 2.2% lower yesterday. Vodafone Idea Vodafone Idea will seek shareholders’ approval to raise the borrowing limit to ₹1 lakh crore at the annual general meeting (AGM) today. The shares of Vodafone Idea ended 6% lower yesterday. Welspun Corp Welspun Corp has received multiple orders worth nearly ₹1,400 crore. Currently, the company’s total order book is valued at approximately ₹6,300 crore. The shares of Welspun Corp ended 2% higher yesterday. VA Tech Wabag VA Tech Wabag has approved the allotment of 75 lakh equity shares at ₹160 per equity share aggregating to ₹120 crore by way of the preferential issue to Rekha Rakesh Jhunjhunwala, Basera Home Finance, Sushma Anand Jain, and Anand Jaikumar Jain. The shares of VA Tech Wabag ended 0.16% higher yesterday. Mazagon Dock, UTI AMC and Likhitha Infrastructure IPO Today will be day two for Mazagon Dock, UTI AMC and Likhitha Infrastructure IPO. The bid for IPO will remain open until October 1. SEE ALSO: <a href="https://www.businessinsider.in/india/news/amnesty-international-shuts-down-its-india-operations-citing-constant-harassment-from-the-indian-government/articleshow/78380428.cms" data-type="tilCustomLink">Amnesty International shuts down its India operations citing ‘constant harassment’ from the Indian government</a> <a href="https://www.businessinsider.in/science/space/news/after-the-moon-mars-is-getting-laser-reflecting-mirror-to-help-future-landings-on-the-red-planet/articleshow/78385935.cms" data-type="tilCustomLink">After the Moon, Mars is getting laser-reflecting mirror to help future landings on the Red Planet</a>

Top stocks to watch— Future Retail, HDFC, Indiabulls Housing, Vodafone Idea, PVR, Welspun Corp and others

<ul><li>WhatsApp has started to roll out the ability to share contact cards on Windows beta.</li><li>The new feature allows users to share contact cards within the same chat share sheet, reports <keyword id="3961385" type="General" weightage="80" keywordseo="wabetainfo" source="Orion">WABetaInfo</keyword>.</li><li>With this feature, when a user shares a contact card, the recipient can easily add it to their address book.</li></ul><keyword id="12161" type="General" weightage="20" keywordseo="san-francisco" source="Orion">San Francisco</keyword>, Meta-owned messaging platform WhatsApp has started to roll out the ability to share contact cards on Windows beta. The new feature allows users to share contact cards within the same chat share sheet, reports WABetaInfo. The entry point "Contacts" will appear if the feature is already enabled for the user's WhatsApp account. With this feature, when a user shares a contact card, the recipient can easily add it to their address book. The ability to share contact cards has been rolled out to some beta users after downloading the WhatsApp beta for Windows 2.2247.2.0 update, the report said. Earlier this week, the messaging platform had rolled out the ability to create polls on Windows beta. To create a poll, users have to click the attach icon which is next to the chat bar and can see a poll option. The feature is end-to-end encrypted, which means that only other people in the same conversation can read and reply to it. It is available for both individual and group chats. SEE ALSO: <a href="https://www.businessinsider.in/business/news/over-50-of-microbusinesses-had-no-mechanisms-to-cushion-covid-impact-road-to-recovery-report-says/articleshow/95780667.cms">Over 50% of microbusinesses had no mechanisms to cushion Covid impact, Road to Recovery report says</a> <a href="https://www.businessinsider.in/business/news/adb-wabag-sign-usd-25-mn-debt-facility-for-sanitation-water-security-in-india/articleshow/95781185.cms">ADB, Wabag sign USD 25 mn debt facility for sanitation, water security in India</a>

WhatsApp rolls out contact cards sharing on Windows beta

<ul><li>Lionel <keyword id="6355806" type="General" weightage="100" keywordseo="messi" source="Orion">Messi</keyword> doing well, says <keyword id="5927" type="General" weightage="80" keywordseo="argentina" source="Orion">Argentina</keyword> manager Scaloni amid injury concerns.</li><li>Argentina will be taking on <keyword id="3746" type="General" weightage="50" keywordseo="mexico" source="Orion">Mexico</keyword> on Sunday in their second <keyword id="146849" type="General" weightage="50" keywordseo="group-c" source="Orion">Group C</keyword> match.</li><li>Argentina is at the bottom of its group table with zero points.</li></ul>Ahead of the clash against Mexico at the ongoing <keyword id="5929" type="General" weightage="50" keywordseo="fifa-world-cup" source="Orion">FIFA World Cup</keyword> in <keyword id="6355203" type="General" weightage="20" keywordseo="qatar" source="Orion">Qatar</keyword>, Argentina manager Lionel Scaloni said that star striker Lionel Messi is doing well. This comes amid concerns that Messi is nursing a leg injury. Speaking at a pre-match news conference, Scaloni was quoted as saying by Goal.com: "Leo is doing well, as are his other teammates. We know tomorrow we have an important match and most young players know that everything will be left on the pitch. Everything depends on us - that's why we need to give everything on the pitch." "You need to rise up after a blow like that, bounce back together and think of the upcoming match - that's all you can do. For a long time, everything was perfect for us - all joy - but in difficult moments we need everyone's support." Argentina will be taking on Mexico on Sunday in their second Group C match. They had lost their previous match to Saudi Arabia 1-2, with Messi scoring the lone goal for his side. Argentina is at the bottom of its group table with zero points. If they lose to Mexico, Argentina will be starring at an elimination from the tournament, which will be confirmed if Saudi avoids a defeat against Poland. SEE ALSO: <a href="https://www.businessinsider.in/business/news/over-50-of-microbusinesses-had-no-mechanisms-to-cushion-covid-impact-road-to-recovery-report-says/articleshow/95780667.cms">Over 50% of microbusinesses had no mechanisms to cushion Covid impact, Road to Recovery report says</a> <a href="https://www.businessinsider.in/business/news/adb-wabag-sign-usd-25-mn-debt-facility-for-sanitation-water-security-in-india/articleshow/95781185.cms">ADB, Wabag sign USD 25 mn debt facility for sanitation, water security in India</a>

FIFA WC: Lionel Messi doing well, says Argentina manager Scaloni amid injury concerns

<ul><li>Global investment firm Nomura's model portfolio is heavily skewed towards blue chip stocks. </li><li>Four stocks -- Reliance Industries, HDFC Bank, ICICI Bank, Axis Bank, L&amp;T and HCL Tech-- make up for nearly 50% of all the investments.</li><li>There is also added emphasis on companies focussed on infrastructure construction. </li></ul>Investing in stock markets can tricky in these volatile times. Sentiment is swaying from one extreme to another driven by changes at home -- the ₹1.45 trillion sweeping tax cuts announced by Finance Minister Nirmala Sitharaman-- and evolving global risks like <a href="https://www.businessinsider.in/Trump-impeachment-odds-skyrocket-to-62-on-popular-betting-website/articleshow/71285122.cms" data-type="tilCustomLink" target="_blank">the risk of Donald Trump's impeachment</a>, the US-China trade war, a possible spike in oil prices to name a few. Small investors can take cues from the likes of global investment firm Nomura's model portfolio, as of September 20, while planning their investments. The portfolio and the allocation shared below also spells out the estimated earnings growth in the next two years. <table style="width: 392pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:15.75pt;width:139pt">Sector/Stock</td> <td class="xl64" style="border-left-width: initial; border-left-style: none; width: 97pt;">Portfolio weightage</td> <td class="xl64" style="border-left-width: initial; border-left-style: none; width: 156pt;">Earnings growth estimate FY19-21</td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Automobiles</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.40%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-13%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Mahindra &amp; Mahindra</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.20%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">18%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Minda Industries</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.20%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Materials</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.30%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">48%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Ultratech Cement</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.30%</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Consumption</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9.10%</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Financials</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">34.80%</td> <td class="xl68" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">ICICI Bank</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">10.80%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">140%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Axis Bank</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">7%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">69%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">ICICI Prudential Life Insurance</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.50%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">19%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">State Bank of India (SBI)</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.50%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">HDFC Bank</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">11%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">20%</td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Infrastructure/Industrials</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">13.10%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Larsen &amp; Toubro</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">6.50%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">17%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Concor</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">KNR Constructions</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.20%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">10%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">AIA Engineering</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.50%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">18%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">VA Tech Wabag</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.90%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">34%</td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">IT Services</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">12.60%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">HCL Technologies</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">5.20%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Mphasis</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.70%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Tech Mahindra</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.70%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3%</td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Oil &amp; Gas</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">14.20%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">GAIL</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.20%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Indraprastha Gas</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">21%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Reliance Industries</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">10%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">20%</td> </tr> <tr> <td class="xl65" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Healthcare</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">6.60%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Dr Reddy's Labs</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.20%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Lupin</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.30%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">41%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Glenmark Pharma</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1.10%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">11%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Apollo Hospitals</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1%</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">59%</td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Metals &amp; Mining</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Power/Utilities</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">4.30%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Telecom</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr> <tr> <td class="xl68" style="height: 15.75pt; border-top-width: initial; border-top-style: none;">Others</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.70%</td> <td class="xl69" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;"> </td> </tr></tbody></table> Interestingly, while there are 23 stocks in the portfolio, the allocation prescribed is heavily skewed towards a handful of stocks -- namely Reliance Industries, HDFC Bank, ICICI Bank, Axis Bank, L&amp;T and HCL Tech-- which make for nearly 50% of the allocation-- showing the sharp difference in the prospects of Indian companies. In terms of sectors, the highest allocation is to companies focussed on infrastructure construction. This may be a bet on government's willingness to spend more of taxpayers' money to boost economic growth. The zero weightage given to telecom may reflect the battered prospects of the sector amidst intense competition, piled up debt, and the imminent pressure of having to bid for 5G spectrum when the auction opens up in the coming weeks. Some stocks like ICICI Bank and Axis Bank are expected to more than double their profits in the next couple but that is largely due to the low-base effect in the last financial, which was marred by rising bad loans and provisions. The return to normalcy may look better when compared to the performance last year. The three IT stocks -- HCL Tech, Mphasis, and Tech Mahindra-- are expected to give the highest return on equity, above 20% each, according to the estimates in the model portfolio of stocks. This model portfolio may give one a perspective on how to invest their surplus profitably. SEE ALSO: <a href="https://www.businessinsider.in/corporate-tax-cut-in-india-is-subject-to-giving-away-these-exemptions-and-incentives/articleshow/71243364.cms" data-type="tilCustomLink" target="_blank">Indian companies have to forego these exemptions to enjoy the $6 billion benefit from lower taxes</a> <a href="https://www.businessinsider.in/cut-in-bank-deposit-rates-will-hurt-financial-savings-of-indian-families/articleshow/71075369.cms" data-type="tilCustomLink" target="_blank">Family savings in India face the threat of more interest rate cuts</a>

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