VEDANTA STORM
Pullback rally soon? Sanjiv Bhasin on 4 stocks to bet on in this uncertain market conditions
Sanjiv Bhasin recommends strategic investments in HUL, LTI, and Indiabulls Real Estate. He advises reallocation from heavyweight stocks to capitalize on growth prospects. Opportunities also lie in ICICI Bank, Bharti Hexacom, Voda-Idea, and IDFC Bank. Bhasin further says: "We are looking at one pullback rally because all negatives are slowly getting priced in. "
ED to tap lenders for info in Byju's probe; Pine Labs pauses IPO plan for now
The Enforcement Directorate (ED), days after probing premises linked to Byju’s for alleged Foreign Exchange Management Act (FEMA) compliance issues, is planning to approach its lenders to seek more details on the edtech major's funding and loan transactions. This and more in today’s ETtech Morning Dispatch.
Is Hindustan Zinc taking the bullet for cash-starved parent Vedanta?
In a move seen to ease some pain from its cash-starved parent company, Hindustan Zinc Ltd, even at the risk of turning net debt from net cash, announced a whopping Rs 10,983 crore dividend payout. According to analysts, Vedanta, which has a 64.92% stake in Hindustan Zinc, will receive Rs 7,132 crore as its share of the latest dividend payout.
Higher rates on new deposits set to hurt banks’ margins in coming quarters, says UCO Bank MD Soma Sankara Prasad
State-run UCO Bank's Managing Director and CEO, Soma Sankara Prasad, says that now Indian banks are most likely to take a hit on their margins as deposits get repriced. Prasad also says that there is no need for additional capital infusion by banks as Indian lenders are adequately capitalised and UCO Bank has no risk from the Adani saga.
Tycoon Anil Agarwal claims to turn Vedanta a zero-debt company amid investor sell-off, increased scrutiny
“Everybody wants to finance us,” Agarwal told the Financial Times in an interview, citing Indian banks and “American funds”, which he declined to name. Vedanta was in talks with JPMorgan and other banks for a $1 billion loan, with an interest rate of 8%-10%, he added. Vedanta borrowed $400 million from Howard Marks’ Oaktree Capital Group in 2020.
Adani isn't the only Indian tycoon in trouble; there's another storm brewing
The next few weeks will be crucial for fundraising. If it fails, the issuer’s B- credit rating, already deep in the junk-bond category, could come under pressure, S&P said this month. Adani’s net debt pile of $24 billion may be three times as large as Agarwal’s, but his bonds are still rated at the lowest rung of investment grade.
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Stocks in news: Srei Infra, Vedanta, Angel One, Bharat Forge, RailTel
RailTel has received the work order from Bangalore Metro for supply, installation testing and commissioning of the IT network infrastructure amounting to Rs 27.07 crore.
‘Red alerts’ likely on unhealthy food on ecommerce sites; Indian govt, RBI to discuss lending app ban
Last week, we reported that to help consumers make informed choices, India’s food safety regulator, FSSAI, is in talks with companies to include a “cautionary warning” on the amount of added salt, sugar and fat in the front labelling of packaged foods, alongside the proposed star rating system. Now, the FSSAI may also ask ecommerce and quick service platforms to put a label or a health rating on the food packet sold on their platforms.
Twenty Three for 2023: 23 ‘boats’ that must rise this year for India’s economy to weather the storm
There are a few things that India needs to be in its favour if it has to successfully navigate the gathering global storm.
ET Startup Awards on Saturday; profitability a must for IPO-bound companies: Accel’s Shekhar Kirani
Top entrepreneurs, policymakers and investors will come together in Bengaluru on November 19 to celebrate the eighth edition of The Economic Times Startup Awards. India’s most coveted startup awards, which recognise entrepreneurial excellence, will be presented at an in-person event. Eminent leaders from the industry will be in attendance and they will discuss the hot-button issues impacting the ecosystem.
Anil Agarwal on why Vedanta picked Gujarat over Maharashtra for its chip plant
Agarwal added that the funds for the project would be raised through debt and that the company had no plans as of now to sell equity stake.
We are stuck in the metal space; the call went wrong: Ajay Srivastava
“We are stuck, honestly, in the metal space where the call has gone wrong at this point of time. So I must share with investors that we also make mistakes, we are not the brightest sparks in the world but right now, we are trying to find money to put in agriculture related companies.”
India Inc's Davos moment: Unicorns in selfie mode; Zerodha founder meets Bill Gates, Vedanta boss bats big for desi start-ups
The world witnessed an extraordinary presence from India at the annual meet.
F&O expiry, Q4 earnings among top 8 factors that may guide markets this week
In the upcoming week, markets will keenly watch the Q4 earnings of India Inc along with the expiry of April series derivatives. On the global front, war crises, crude oil and Covid-19 will be the major factors to watch out for.
Book profits in IT midcaps and buy midcap bank stocks: Sanjiv Bhasin
"Godrej Properties and DLF are two of the top holdings in our portfolios. I am extremely bullish on them."
SGX Nifty up 20 points; here's what changed for market while you were sleeping
Nifty futures on the Singapore Exchange traded 21 points, or 0.18 per cent higher at 11,870, in signs that Dalal Street was headed for a positive start on Friday.
India coronavirus count on Monday: Well over 450 infected, 548 districts under complete lockdown
The official count of the infected stood over 450, and the dead at nine. There was no fresh death case, with one casualty in Maharashtra later confirmed as having tested negative. Meanwhile, during the day, the global death toll crossed 15,000, and the total number of the infected inched closer to the 3,50,000 mark.
Vedanta working with authorities on Lanjigarh incident, says CEO
The mining major has also urged protestors to engage with the company on the issues that they are concerned about through existing channels.
Big shots of 2017 turned big shorts in 2018: Will the bull run survive this?
Bear markets are intense, disruptive, disorderly, erratic and unsettling.
Sterlite protest: Tuticorin villagers accuse Left outfit of inciting violence
Hundreds of protesters had gone on the rampage on May 22, storming the collectorate, setting buildings and vehicles ablaze, and prompting police action.
15 popular stocks that eroded Rs 4,00,000 crore investors’ wealth so far in 2018
PC Jeweller alone has eroded over Rs 13,000 crore of investor wealth so far this year.
Suits & sayings: ET's weekly roundup of the wackiest whispers and murmurs in corporate corridors
Airlines offering in-flight Wi-Fi services are forced to switch off the facility the minute an airplane enters Indian airspace.
I am a fan of high debt cos with good managements: Rajen Shah, Tradebulls
When these companies reduce their debt significantly, it leads to a surge in the market cap.
TRACK SENSEX, NIFTY LIVE: Who moved my market today
If you are reading this, chances are the Sensex and the Nifty are part of your daily life, and actions on Dalal Street can make or mar your day.
Sensex climbs 170 pts ahead of Fed meet, Nifty50 tops 7,700; Lupin, HUL, RIL gain
Selling in banking stocks was offset by buying in other index heavyweights such as Reliance Industries, Hindustan Unilever, Tata Motors and ITC.
Sensex flat, Nifty50 tests 7,650; Vedanta, NTPC fall
The NSE barometer was at ruling flat at 7,649.50. It touched a high of 7,663.95 and a low of 7,625.10 so far.
Lull before the Greece storm? Sensex ends 147 points up, 8,500 eludes Nifty; JSPL cracks 5%
The S&P BSE benchmark ended the day 146.99 points up at 28,092.79 after rallying as much as 180 points in intraday trade.
Vedanta’s Rs 50,000-cr Odisha investment: How not to go about executing a mega project in India
Vedanta group has almost everything to make aluminium. Just one problem: it doesn’t have the raw material, bauxite, and now has little hope of getting it.
Crisis in oil sector threatens private investment
Stringent terms sought by the CAG would maximise government gains from discoveries made from risk capital provided by companies.
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