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KKR & Co. is seeking to lend in partnership with Indian banks and buy more local non-bank financiers as a funding squeeze in the world’s fastest-growing economy creates opportunities for US private equity giants. “We are in dialogue with banks to see if there are creative ways to partner" to lend to small-to-midsized companies, B V Krishnan, chief executive officer of KKR India Financial Services, said in an interview in Mumbai. KKR is also looking for acquisitions of Indian non-bank lenders, according to Krishnan, in line with what people with knowledge of the matter said in October. Global investors from Oaktree Capital Group LLC to Varde Partners have mulled lending to companies in India, where the lack of a deep bond market and a bad-debt crisis have constrained borrowers’ attempts to access longer-term funds. Financing for smaller firms has dried up since a string of shock defaults by shadow lender Infrastructure Leasing and Financial Services Ltd (IL&FS...

Punjab National Bank (PNB) and Allahabad Bank will reduce benchmark marginal cost of funds based lending rate (MCLR) by 10 basis points (bps) across various tenures from March 1. The reduction will make home, car and other retail loans cheaper. According to the PNB, the reduction is applicable to all the tenures overnight, one month, three-months, six-month, one-year and three years. Similarly, state-run Allahabad Bank said it will cut MCLR across all tenures up to three years with effect from March 1.  "The Asset Liability Management Committee of the bank has reviewed the MCLRs and decided to go for a downward revision by 10 bps for all tenures," Allahabad Bank said in a regulatory filing. For all the tenures overnight, one-month, three-month, six-month, one-year, two-year and three years the bank has cut the MCLR by 0.10 percent each to 8.15 percent, 8.25 percent, 8.45 percent, 8.50 percent, 8.65 percent, 8.85 percent, and 8.95 percent, respectively, acc...

Budget carrier SpiceJet will operate daily direct flights to the Veer Surendra Sai Airport in Jharsuguda, Odisha, from Delhi, Hyderabad and Kolkata under UDAN, the regional connectivity scheme, from March 31. "The airline will launch daily direct flights on the Jharsuguda-Delhi-Jharsuguda,Jharsuguda-Hyderabad-Jharsuguda,and Jharsuguda-Kolkata-Jharsuguda sectors," the airline said in a statement on Wednesday.  According to SpiceJet, it is the first carrier to connect the unserved market of Jharsuguda with Delhi and Hyderabad. "With the addition of these flights, SpiceJet will be operating 29 daily flights under UDAN." The Veer Surendra Sai Airport is Odisha's second biggest and the only one to handle civil commercial operations after the Biju Patnaik International Airport in Bhubaneswar. At present, SpiceJet operates 23 flights under UDAN. Best Share Market News, Click Here To Get More News - Stock Market tips , for 2 Days Free Tria...

Beleaguered airline Jet Airways has grounded a "significant number" of aircraft, a senior Civil Aviation Ministry official said here on Wednesday. According to the official, the airline did inform the Directorate General of Civil Aviation (DGCA) about the grounding and the regulator is monitoring the situation. Industry insiders said as many as eight aircraft have been grounded due to non-payment to lessors and the number might increase in the coming days. Earlier, the airline had informed the stock exchanges it has grounded five aircraft. The grounding of an additional three planes has impacted around 15 flights. Some reports suggested airline may already have grounded more than 20 aircraft due to the shortage of spare parts and an inability to pay the lessors. This would mean a significant portion of the airlines' fleet of 123 aircraft remains grounded. But official sources did not confirm these figures. The airline is also disbursing monthly sal...

Crude oil trading range for the day is 3932-4176. Crude oil gained after crude inventories unexpectedly plummeted and as Saudi Arabia brushed aside comments from President Trump seeking to keep oil prices from climbing. U.S. crude stockpiles fell 8.6 million barrels last week, in contrast to expectations for an increase of 2.8 million barrels, government data showed. U.S. crude oil inventories fell by 4.2 million barrels in the week to Feb. 22, to 444.3 million barrels, the API estimated in a weekly report. In December, OPEC and others, led by Russia, agreed to collectively cut production by a total of 1.2 Mbps during the first six months of 2019. Best Share Market News, Click Here To Get More News - MCX Tips, for 2 Days Free Trial give a missed call @9644405056 and Get Share Market Services.

There’s a wrinkle in plans made by Asia's richest man and Reliance Industries Ltd (RIL) chairman Mukesh Ambani to take on Jeff Bezos' Amazon.com Inc. and Walmart Inc.'s Flipkart on his home turf of India: his telecom and retail businesses—Reliance Jio Infocomm Ltd and Reliance Retail, respectively—can’t share data. Ambani has outlined how he will marry the might of his group’s 9,900-plus retail stores and 280-million strong telecom user base to bolster his Reliance e-commerce venture. A senior Reliance executive says that any data sharing on customers between the two could run into a legal wall. “They are different companies so there are data privacy rules," Ashwin Khasgiwala, Reliance Retail Ltd’s chief financial officer said at a conference in Mumbai on Tuesday. “They’re different platforms," he said while declining to elaborate on how the group plans to overcome it. While Reliance Industries' brick-and-mortar retail businesses are housed...

Gold prices on Thursday held near two-week lows touched in the previous session, as the dollar recouped losses after cautious comments from U.S. Trade Representative Robert Lighthizer dented investors' hopes for a closure to the tariff war with China. As of 0340 GMT, spot gold and the U.S. gold futures were down 0.1 percent at $1,318.50 and $1,320.10 per ounce respectively. The safe-haven metal slipped to its lowest since Feb. 15 at $1,316.43 in the previous session and dropped for the first time in five months. Lighthizer told a Congressional hearing it is too early to predict the outcome of ongoing trade talks with Beijing and the United States will need to maintain the threat of tariffs on Chinese goods for years even if the two sides strike a deal. "There is some uncertainty about the trade deal and some of the safe-haven (demand) has gone to the U.S. dollar. That has taken a bit of a bid from gold," said John Sharma, economist, National Australian Bank. ...

Where has all the money poured by the government into its weakest banks gone? If the stock market’s collective wisdom is used as a fair measure, it looks like the majority of it is being seen as money down the drain. The government has infused about 1.9 trillion into banks it owns in the past two years, of which nearly two-thirds have gone to the weakest lot that is under quarantine. Public sector banks (PSU banks) under the Reserve Bank of India’s Prompt Corrective Action (PCA) framework have received about 1.25 trillion in recapitalization, while their healthier peers got far less. The PCA framework is a scheme wherein RBI quarantines weak banks so that their balance sheets can heal. But since April 2017, the combined market capitalization of the 11 PCA banks has increased by only 28,600 crores. Of course, quite a few of these banks are now out of the PCA framework, thanks to the capital infusion, but the above chart refers to all 11 banks. While stocks of some ...

It looks like the pressure on two-wheeler companies is mounting. February data on two-wheeler retail sales paint a weak picture for March quarter sales, analysts at some leading brokerage firms have pointed out. Even though dispatches from companies to dealers were lowered, inventory continues to pile up. Discounts and incentives are failing to power sales. Inventory levels continue to remain high at 40-45 days, with no respite seen in the near term. Normally, with January and February being the season for weddings, demand for two-wheelers tends to rev up. For instance, sales grew 25-35% year-on-year in these two months. The slowdown in two-wheeler sales was triggered by a hike in insurance premium about six months ago. The payment schedule for mandatory third-party insurance was changed from an annual fee to a five-year term, payable upfront at the time of purchase of a new bike. This led to a sharp increase in the purchase price of motorcycles. Meanwhile, Bajaj Auto Ltd’s ag...

Market Opens : It is a strong start for the indices on Thursday with Nifty trading around 10,850 level. At 09:18 hrs IST, the Sensex is up 139.66 points at 36045.09, while Nifty is up 40.90 points at 10847.60. About 525 shares have advanced, 138 shares declined, and 33 shares are unchanged.  Tata Metaliks, Future Retail, Yes Bank, Tata Motors, Coal India, Adani Ports, Quick Heal, Motherson Sumi, Balrampur Chini, Maruti Suzuki are among major gainers on the indices, while losers are ONGC, Wipro, Indiabulls Housing, Jet Airways, Odisha Cement, TCS, and HCL Tech. All the sectoral indices are trading in green led by PSU bank, auto, energy, and FMCG. Best Share Market News, Click Here To Get More News - Stock Market tips , for 2 Days Free Trial give a missed call @9644405056 and Get Share Market Services.

Macquarie cut its target price for Indiabulls Housing Finance to Rs 836 from Rs 1,170 apiece. Indiabulls Housing Finance shares fell a percent intraday on Wednesday after global research house Macquarie slashed its price target on the stock by 29 percent. Non-banking finance companies (NBFCs) have funded 85 percent of incremental real estate book in the last 5 years. The research house said the funding situation has been normalized a bit for NBFCs but still remained tight. Macquarie cut its target price to Rs 836 from Rs 1,170 apiece. At 13:00 hours IST, the stock was quoting at Rs 658.45, down Rs 1.05, or 0.16 percent on the BSE. Best Share Market News, Click Here To Get More News -  Stock Market tips , for 2 Days Free Trial give a missed call @9644405056 and Get Share Market Services.

Buy Turmeric Apr Abv 6150 SL BELOW 6100 TGT 6220-6280. NCDEX Turmeric trading range for the day is 6086-6218. Turmeric gained on the back of concerns that drought conditions and cold weather will affect crop production. However, upside seen limited on higher supplies prospects from new season crop limiting the downside. There is an expectation of higher production this season due to higher acreage in Telangana. In Nizamabad, a major spot market in AP, the price ended at 6292.5 Rupees dropped -43.2 Rupees. BUY TURMERIC APR ABV 6150 SL BELOW 6100 TGT 6220-6280. NCDEX. Best Share Market News, Click Here To Get More News - NCDEX Tips , for 2 Days Free Trial give a missed call @9644405056 and Get Share Market Services.

Tata Steel proposes to issue a total of 40,000 NCDs of face value Rs 10 lakh each.  Shares of Tata Steel climbed over 1 percent in morning trade on Wednesday, a day after its board approved the issuance of debt securities worth Rs 5,000 crore.  However, the scrip cooled off and traded almost flat at Rs 504.40 on BSE around 12 pm.  The Tata Steel board on Tuesday had approved the company's decision to issue debt securities worth Rs 5,000 crore, comprising unsecured non-convertible debentures (NCDs) of up to Rs 4,000 crore plus a greenshoe option of Rs 1,000 crore, on a private placement basis.  Tata Steel proposes to issue a total of 40,000 NCDs of face value Rs 10 lakh each, aggregating Rs 4,000 crore, plus a greenshoe option of Rs 1,000 crore.  The move comes at a time when Tata Steel is integrating its Rs 35,200-crore acquisition of stressed asset Bhushan Steel, acquiring Usha Martin’s steel business for Rs 4,500 crore, and expanding its ...

Deutsche upgraded the stock because it feels the company has been approaching a sweet spot in various categories and may see a sustained increase in margin. TVS Motor Company shares gained 2 percent in the morning on Wednesday after global brokerage firm Deutsche Bank upgraded its rating on the stock to hold, but slashed price target to Rs 455 from Rs 465 apiece. The reason behind the cut in price target was that the brokerage made changes to FY19-21 EBITDA & EBIT forecasts by -1 to +3 percent and cut EPS estimates by 3-8 percent. Deutsche upgraded the stock because it feels the company has been approaching a sweet spot in various categories and may see a sustained increase in margin. Stronger market share is the key to margin expansion, it said. Best Share Market News, Click Here To Get More News - Stock Market tips , for 2 Days Free Trial give a missed call @9644405056 and Get Share Market Services.

Credit Suisse said the street is already building in 80 bps margin expansion for next year. Software company Wipro's shares fell more than 2 percent in the morning on Wednesday after global investment firm Credit Suisse downgraded its rating on the stock to underperform from neutral on likely to margin volatility. The brokerage also reduced its price target by 13.5 percent to Rs 320 from Rs 370 apiece earlier as it sees limited scope for further earnings upgrades. The stock was quoting at Rs 379.45, down Rs 7.75, or 2 percent on the BSE, at 10:00 hours IST. Credit Suisse said the street is already building in 80 bps margin expansion for next year. According to the brokerage, the margin may exhibit a bit of volatility even when on an absolute level. Wipro's earnings before interest and taxes (EBIT) grew by 12.5 percent sequentially to Rs 2,909.4 crore and margin expanded 180 bps to 19.8 percent in Q3FY19. IT services revenue at Rs 14,665.6 crore for the ...

Trump spoke in the chamber of the House of Representatives facing political discord over his demands that Democrats end their opposition to funding for a border wall he says is needed to stem illegal immigration and smuggled drugs. Gold prices held steady on Wednesday after US President Donald Trump, in his State of the Union speech, vowed to build a border wall, but gave little clarity over developments in the ongoing trade discussions with China. Spot gold was steady at $1,314 per ounce at 0431 GMT. US gold futures were also steady at $1,318 an ounce. Trump spoke in the chamber of the House of Representatives facing political discord over his demands that Democrats end their opposition to funding for a border wall he says is needed to stem illegal immigration and smuggled drugs. "There is a likely risk of another government shutdown with President Trump still sticking to the rhetoric of erecting a border wall," said Hitesh Jain, vice president, Yes Sec...

He's moving on from an episode that roiled India's tech arena It’s been less than three months since Binny Bansal’s shock ouster from Flipkart, the e-commerce giant he founded over a decade ago. The entrepreneur once celebrated for jumpstarting India’s internet retail industry is now dedicating himself to helping other founders get their startups off the ground. Bansal, who departed after Flipkart’s new owner Walmart Inc. investigated alleged personal misconduct, is now focused on xto10x Technologies, a startup he co-founded with former colleague Saikiran Krishnamurthy. It’s aimed at helping entrepreneurs navigate the often-tricky Indian startup scene. Bansal’s already put together an early team, set up an office at a co-working space and even snagged several “leading” startup customers. “I’m looking forward to the next chapter of my life,” the 37-year-old said in his first interview since the episode. “Person to person, I can help 10 startups but the ambition is ...

The breadth of the market favoured the declines with 658 stocks advancing and 1029 declining while 369 remained unchanged. On the BSE, 868 stocks advanced, 1389 declined and 128 remained unchanged. The Indian benchmark indices have been trading on a positive note in this Tuesday afternoon session with the Nifty50 up 27 points, trading at 10939 while the Sensex gained 73 points and was trading at 36655 marks. Nifty Auto added close to a percent led by gains from Bajaj Auto, Hero MotoCorp, Mahindra & Mahindra and Maruti Suzuki. Media stocks were also buzzing led by Zee Media and Zee Entertainment which jumped 3-4 percent followed by INOX Leisure and PVR. Research firm Citi has revised the rating of Zee Entertainment to buy and has cut target to Rs 480 from Rs 575 per share. From the banking space, the top gainers were IndusInd Bank, Punjab National Bank, and YES Bank. However, real estate stocks were down with loses from Indiabulls Real Estate, Phoenix M...

The year 2018-19 has indicated that below average and erratic distribution of monsoon rains over the country have affected the production of Pulses and Oilseeds and it is expected to decline marginally by 2.68 percent and 5.36 percent. Pulses production is projected to drop marginally to 9.10 million MT (metric tonne) from 9.35 million MT last year which is around 2.68 percent down due to the fall in Urad output by 10.11 per cent, mainly due to the shift in acreage towards Soybean in some parts of Madhya Pradesh and Maharashtra. The total Oilseeds production is estimated to be 19.87 million MT, which is 5.36 per cent declined than the last year’s production 21.00 million MT, mainly due to the falling Groundnut (22.11 percent), Castor (27.16 percent) and Sesame (3.21 percent) production in major producing states. Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before ta...

Foreign direct investment (FDI) into India declined 11 percent to $22.66 billion during April-September period of the current fiscal, according to Commerce and Industry Ministry data. The foreign fund inflows during April-September 2017-18 stood at $25.35 billion. Singapore was the largest source of FDI during April-September 2018 with $8.62 billion inflow, followed by Mauritius ($3.88 billion), the Netherlands ($2.31 billion), Japan ($1.88 billion), the US ($970 million), and UK ($845 million). FDI had increased at a five-year low growth of 3 percent at $44.85 billion in 2017-18. A decline in foreign inflows could put pressure on the country's balance of payments and may also impact the value of the rupee. Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions. Best Share Market News, Click Here To Get More News - Share ...

Groundnut exports from Gujarat - the largest producer and exporter of the commodity – is expected to fall to 2.5 lakh tonnes in 2018-19, the lowest since 2013-14, industry body Saurashtra Oil Millers Association (SOMA) said. Groundnut exports from Gujarat were 1.79 lakh tonnes, worth Rs 1,224 crore, in April to November of the 2018-19 fiscal, says the Agricultural and Processed Food Products Export Development Authority (APEDA), citing data from the Directorate General of Commercial Intelligence and Statistics (DGCIS). Gujarat’s groundnut exports were at 3.22 lakh tonnes (valued at Rs 2,115 crore) in 2017-18. The reduced exports from Gujarat are expected to lower India’s overall groundnut exports in 2018-19 too. The first eight months of the current fiscal saw groundnut exports from the country stand at 3.10 lakh tonnes, against 5.04 lakh tonnes in all of 2017-18. The Solvent Extractors’ Association of India (SEA) pegged the Kharif groundnut production in Gujarat at 15.95...

Four-wheeler replacement industry growth may slow down to 6 percent in FY21 From 10 percent In FY20, Nomura said in a research note, discussing Exide We have collated a list of recommendations from global brokerage firms for Tuesday, February 5. Whirlpool | Brokerage: Jefferies | Rating: Hold | Target: Rs 1,625 Jefferies has downgraded Whirlpool to Hold from Buy and reduced the target price to Rs 1,625 from Rs 1,690. Revenue growth was hurt by a weak margin, and most positives have been priced in at the current valuation, according to Jefferies. Zee Entertainment Enterprises | Brokerage: Citi | Rating: Buy/High-risk | Target: Rs 480 Citi has revised the stock's rating to 'Buy/High Risk' from 'Buy', and slashed the target price to Rs 480 from Rs 575. The strategic stake sale is key to Zee Entertainment's performance, Citi said in a research note. Coal India | Brokerage: Morgan Stanley | Rating: Overweight | Target: Rs 296 Pro...