RBI allows banks and NBFC to grant joint loans to the priority sector: The Reserve Bank of India (RBI) said on November 5 that banks and non-bank finance companies (NBFC) could co-originate loans to the priority sector.
Under this, banks can jointly lend with all registered NBFCs (including HFCs) based on a prior agreement, the RBI said. Co-loan banks will take their share of individual loans consecutively on their books. However, NBFCs will need to retain a minimum of 20 percent of individual loans on their books, the central bank said.
ICICI direct on Ratnamani Metals: New stainless steel capacity, LSAW capacity, and REG capacity expansion are likely to be put into service in H2FY21, providing healthy visibility in the future. We valued the stock at 20x FY22E EPS and reached a target price of Rs 1475. We maintain our buy rating on the stock. (source: Moneycontrol)
Trader’s Diary: A Nifty All-Time High Expected in Twice Fast Time
The levels in Nifty and Bank Nifty mentioned yesterday have been breached and it looks like the game is on for an assault on the highest Nifty of all time. This could come in twice as fast as the banks have a massive recovery operation ahead of them.
Additionally, Reliance Industries (RIL) could be brutal to anyone falling short at the counter with Street drawing inferences from the IPL presence and the November 5 meeting. The RDA rose sharply yesterday and that adds to the mix. The fact that domestic mutual funds hate RIL’s move because of their underweight could fuel the rally for banks.
These are heady times, as even the PSU package is gaining momentum with all the talk of buybacks in the market and there is no more supply through the ETF divestment route. Talking on the street that some names in this bundle are great value games, even if they go up 20 to 40 percent from here, it tells you how optimistic the street is. Click here to read more
Buzzing action: Birla Corporation’s stock traded more than 6 percent higher at Rs 683.75 per share on the NSE after the company reported after-tax earnings that rose 87 percent to Rs 166.62 crore in the second quarter of the year. current tax compared to Rs 88.34 crore in similar previous period.
RIL Shares Increase Almost 3% in PIF Investment in Reliance Retail
Reliance Industries’ stock price rose nearly 3 percent on Friday after Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) said it will invest 9,555 crore, or about $ 1.3 billion, for one 2.04 percent stake in RIL Reliance Retail Ventures Limited’s retail unit. (RRVL).
As of 9:50 am, the stock was trading 2.7 percent higher at Rs 2,008.90 per share on the NSE. This is the eighth investment in Reliance Retail in less than two months.
This is PIF’s second investment in a branch of Reliance Industries, having previously acquired a 2.32 percent stake in Jio Platforms, RIL’s digital services subsidiary.
So far, the company has sold just over 10 percent in RRVL for a combined total of Rs 47,265 crore. Read more here
Buzz: Dalmia Bharat share price at 52-week high after strong second-quarter earnings
Dalmia Bharat shares rose more than 5 percent to hit a 52-week high on Friday after the company reported strong earnings for the second quarter of fiscal 2021. The shares rose as much as 5.6 percent to hit a maximum of Rs 925.40 each in BSE. .
On Thursday, the company reported a more than six-fold increase in its consolidated net profit of Rs 232 crore for the quarter ending September 2020, helped by higher sales volume. The company had posted a net profit of Rs 36 crore for the same quarter last year. Revenue from the company’s operations during the second quarter of fiscal 21 increased 7.78 percent to Rs 2,410 crore from Rs 2,236 crore year-on-year. Its sales volume was 4.80 million tons during the quarter, 7.38 percent more, compared to 4.47 million tons.
Tata motors | Jaguar Land Rover’s October sales in the UK fell 19.7 percent to 6,556 units from 8,168 units year-on-year. Jaguar’s sales fell 25.5 percent and Land Rover’s 17.3 percent, respectively.
Technical view | The trend of the index is positive and we should work towards a target of 12,300-12,400. Since the markets have skyrocketed in recent days, it would be best to rack up the Nifty on dips for higher targets. Support for the index is at 11,500, so the risk-reward would be favorable if we entered closer to the support price, it says Manish Hathiramani, Technical Analyst and Owner Index Trader, Deen Dayal Investments.
Buzz | Reliance Industries recovers 2% of PIF’s investment in retail unit
Reliance Industries (RIL) shares gained more than 2 percent after the company announced that Saudi Arabia’s Public Investment Fund (PIF) will invest Rs 9,555 crore, or approximately $ 1.3 billion, in the retail unit of the company Reliance Retail Ventures Limited (RRVL) by 2.04 percent. .
Opening bell: Benchmark indices of Indian stocks opened higher on Friday led by gains in auto, consumer goods and pharmaceutical stocks amid mixed global signals.
At 9:15 a.m., the Sensex opened 0.24 percent, or 98.60 points, higher at 41,438.76, while the Nifty50 index opened at 12,156.65, an increase of 36.35 points, or 0.30 percent. hundred.
The broader markets outperformed the benchmark indices with the Nifty Smallcap100 and Nifty Midcap100 indices trading 0.7% and 0.4% higher, respectively.
Among industry indices, Nifty Auto, Nifty FMCG, Nifty Media, Nifty Pharma and Nifty Realty saw buying, while Nifty Metal and Nifty Private Bank were trading in the red in the early morning session.
Glenmark Pharma Second Quarter Profits Today – Here’s What To Expect
Glenmark Pharma will report its second quarter earnings today. Its COVID portfolio is expected to help national businesses.
In terms of revenue, a decline is expected due to pressure on US markets. However, EBITDA is expected to increase by 12.5 percent and margins are expected to increase by 230 basis points. Earnings could rise 1.6 percent.
The national portfolio is expected to grow in double digits, around 8-10 percent is what the street estimates. According to analysts, Favipiravir could add revenue of about Rs 180-200 crore to the company’s top line.
The API business is expected to recover and margins will also improve due to lower cost. Overall, good operating performance is expected from Glenmark Pharma. There’s more here
Here are the top CNBC-TV18 stocks of the day, Click here
This is how the markets fared yesterday!
Benchmark India stock indices Sensex and Nifty closed higher on Thursday led by gains led by gains in broad-based buying in metals, energy and banking stocks amid positive global signals.
The Sensex closed 724.02 points or 1.78 percent higher at 41,340.16 while the Nifty rose 211.80 points or 1.78 percent to close at 12,120.30. Nifty Bank finished 2 percent higher.
Broader indices participated in the rally with the Nifty Smallcap100 and Nifty Midcap100 indices gaining more than 1.7 percent each.
A rally was seen in index heavyweights such as Reliance Industries and Bajaj Finance.
Across sectors, Nifty Metal and Nifty Media rallied more than 4% each, followed by Nifty PSU Bank, Nifty FMCG, Nifty Auto and Nifty IT.
Welcome to the market blog!
Hi, I’m Mousumi Paul from the CNBC-TV18 desktop team, and I’ll show you all the updates for the day. For starters, the Indian market is expected to open cautiously on Friday, following a mixed trend in Asian markets, as investors await the results of the US elections. Meanwhile, the US Federal Reserve kept interest rates unchanged near zero. As of 7:00 am, the SGX Nifty was trading 20.50 points or 0.17 percent lower at 12,154.50, indicating a slightly negative start for the Sensex and Nifty50.
