Tata Motors may retain momentum on JLR show, push to pare leverage
The operating profit of the JLR surged 5.12 percentage points on a YoY basis to 8.8% in December quarter, taking the nine-month margin to 8.2%, driven by increasing volume that helped it accrue benefits of operating leverage, better product mix and tailwinds of moderating raw material prices.
RBI MPC Meet: Interest rates expected to hold steady, possible shift to neutral stance amid tight liquidity conditions
RBI MPC Meet: The 12 respondents unanimously predicted that the Monetary Policy Committee (MPC) would keep the repo rate unchanged at 6.50% at the end of its February 8 meeting. They said the panel will maintain the status quo on rates for the sixth consecutive time. The repo rate is the rate at which the […]
Nifty seen consolidating, go easy on longs: Analysts
Chart patterns suggest the 10-20 day exponential moving average (EMA) zone of 21,580-21,630 will act as a strong support going forward. Until spot Nifty holds 21,580, we may witness the continuation of the current momentum up to levels of 22,100-22,150.
Secured loans, low concentration top draw for Jana SFB
It has been improving the share of secured loans in the loan book over the past few years. Its loan book is spread across multiple states with a lesser geographical concentration. Given these factors and a reasonable valuation, investors with a long-term view may consider the IPO.
Hyundai plans listing of local arm this Diwali
Banker pitch at HQ last week; raise of $3.3-5.6 billion may value HMIL up to $28 billion. At $28 billion, HMIL will be valued at 48 times FY23 earnings, while at the lower end of the band at $22 billion, it would be 38.4 times. Maruti Suzuki trades at 40 times FY23 earnings.
Borrowing costs likely to fall after govt cuts its take
With the government – typically the largest borrower in the economy – bringing down its gross bond issuances, corporates would also have access to more credit, which in turn also augurs well for lenders’ credit growth.
RBI likely to focus on non-rate steps to fight rising inflation
The central bank is likely to focus on non-rate measures for the sixth time when the Monetary Policy Committee (MPC) meets this week. By announcing a lower-than-expected government borrowing programme, the government has done its bit by helping push down yields.
IOB puts MSME bad loans on the block, eyes 60% debt recovery
The last date for submitting expressions of interest is February 9 and e-bidding will take place on February 21. Bidders are expected to offer 5% mark-up on 20% cash and 80% SR base bid, with preference to bids with a higher cash portion.
NCLT admits Vadraj Cement for insolvency process
Vadraj Cement, previously known as ABG Cement, has been shifted from the Bombay High Court to the National Company Law Tribunal (NCLT) for debt resolution. The NCLT order allows lenders to potentially recover more than half of their dues. Adani Group, UltraTech Cement, and JSW Cement may bid to acquire the debt-laden company.
Nifty could rise to 23,400 in pre-poll rally: ICICI Securities
ICICI Sec expects Nifty to form a ‘durable bottom’ in the February-March period wherein 20,500-20,800 levels could be a strong support. “Usual bull market corrections in Nifty are around 8% (multiple cycle average) followed by new highs,” the analysts said. “Volatility from hereon should be embraced as a buying opportunity.”