Today’s stock tips by Mitessh Thakkar, Rahul Mohindar

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian market is likely to open higher on Thursday following gains in Asian peers amid mixed global cues. At 7:15 am, the SGX Nifty was trading 65.00 points or 0.43 percent higher at 15,261.00, indicating a positive start for the Sensex and Nifty50. CNBC-TV18’s in-house panel of experts has laid down a list of stocks for the investors to buy/sell in trade today.

Here are the top buy-sell calls by market experts for Thursday:

Mitessh Thakkar – mitesshthakkar.com

– Buy Bank of Baroda with a stop loss of Rs 82.9, target at Rs 87.5

– Buy BEL with a stop loss of Rs 136.5, target at Rs 145

– Buy Punjab National Bank with a stop loss of Rs 40.5, target at Rs 45

– Sell Torrent Pharma with a stop loss of Rs 2,583, target at Rs 2,480

Rahul Mohindar – viratechindia.com

– Sell Coal India with a stop loss of Rs 139, target at Rs 129

– Buy Tata Steel with a stop loss of Rs 682, target at Rs 717

– Buy Reliance Industries with a stop loss of Rs 2,050, target at Rs 2,130

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Disclaimer: CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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China shares rise on return from holiday, profit-taking hits other markets

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Chinese shares rose on Thursday during the first trading session after the week-long Lunar New Year holiday amid renewed optimism for an acceleration in global growth, but other Asian markets were hit by profit-taking.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.15 percent but was still close to an all-time high. Shares in China rose 0.77 percent. Australian stocks erased gains to trade 0.05 percent lower, while Japan’s Nikkei was unchanged.

E-mini futures for the S&P 500 fell 0.04 percent.

Yields on two-year Treasuries hit a record low and the 10-year yield extended a pullback from a one-year high as a bond market sell-off started to fade.

Strong US retail sales, new signs the Federal Reserve will maintain its accommodative stance, and an ongoing push for further US stimulus have bolstered economic optimism, but some analysts remain cautious because new strains of the coronavirus continue to emerge.

“With an even larger stimulus package likely to be passed by Congress before the end of March, the US economic recovery could gain more momentum in 2021,” wrote Commonwealth Bank of Australia currency analyst Carol Kong.

“Despite the recent positive vaccine developments, the global economic outlook remains uncertain partly because of the spreading virus variants.”

On Wall Street, technology stocks fell, driving down the Nasdaq while other companies rose on broader economic optimism.

The Dow Jones Industrial Average rose 0.29 percent, while the S&P 500 lost 0.03 percent and the Nasdaq Composite dropped 0.58 percent.

The MSCI’s global stock index fell 0.04 percent but was still near a record high.

While investors eyed inflation, minutes from the January Fed meeting showed policymakers willing to push further accommodation to boost the pandemic-scarred US economy.

Hopes for a stronger US economy supported the greenback. The dollar index, a measure of the currency’s strength against six other major currencies, was steady, holding onto a 0.25 percent gain from the previous session.

The risk-on appetite was apparent in bitcoin, which continued its upward march to exceed $52,000 amid signs it may be gaining more mainstream acceptance. Cryptocurrency ethereum also rose more than 2 percent to new record high of $1,900.

The two-year US Treasury yield briefly touched a record low of 0.1049 percent. Benchmark 10-year yields eased slightly to 1.2669 percent, pulling away from the highest level since Feb. 27, 2020 as some investors judged that recent selling of fixed income had gone too far.

An ongoing deep freeze in Texas continued to drive up oil prices, as the unusually cold weather hampered output at the largest US crude producing state. Brent crude gained 1.35 percent to $65.22 a barrel, while US West Texas Intermediate (WTI) crude rose 1.29 percent to $61.93 a barrel, both reaching levels not seen since January last year.

Spot gold edged up 0.14 percent to $1,778.72 per ounce. US gold futures rose 0.28 percent to $1,777.60 per ounce.

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Petrol reaches Rs 89.88 in Delhi, Rs 96.32 in Mumbai as rates up for tenth day in a row

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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For the first time ever, the price of petrol reached Rs 89.88 in Delhi on Thursday after fuel rates were hiked for the tenth day in a row. Petrol and diesel prices were increased by 32-34 paise per litre across metros, according to a price notification of state-owned fuel retailers.

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. After Thursday’s price increase, diesel in Delhi costs Rs 80.27 per litre.

In Mumbai, petrol price rose to Rs 96.32 a litre and diesel was priced at Rs 87.32.

Central and state taxes make up for 60 percent of the retail selling price of petrol and over 54 percent of diesel. The union government levies Rs 32.90 per litre of excise duty on petrol and Rs 31.80 a litre on diesel.

On Wednesday, Prime Minister Narendra Modi said that the middle-class would not have been burdened if the previous governments had focussed on reducing India’s energy import dependence. Without referring to the relentless increase in retail fuel prices, which are linked to international rates, he said India imported over 85 per cent of its oil needs in the 2019-20 financial year and nearly 53 percent of its gas requirement.

Since India imports the majority of its oil needs, retail rates are benchmarked to international prices, which have spiralled in recent weeks.

Globally, oil prices rose as much as a dollar on Thursday, extending this week’s gains and hitting 13-month highs, as a cold snap sweeping Texas and surrounding regions shut at least a fifth of US refining output and a million barrels of crude production, according to news agency Reuters.

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MarketBuzz Podcast With Reema Tendulkar: Sensex, Nifty likely to open higher; Bharti Airtel, Alembic Pharma in focus

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian market is likely to open higher Thursday as the trend on SGX Nifty indicates a strong start for the broader index in India. The Nifty futures were trading 28.50 points or 0.19 percent higher at the 15,224.50 level on the Singaporean Exchange at 8:15 am.

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The CNBCTV18.com podcast on the big themes, vital news and key events that you should know before the opening bell, powered by CNBC-TV18 anchors. MarketBuzz is your daily morning briefing by CNBC-TV18 research analysts and anchors Sonia Shenoy, Ekta Batra, Anisha Jain, Nigel D’Souza and Mangalam Maloo to jumpstart your stock market investing. Subscribe to our free podcasts on Audioboom or listen on the featured podcast page on CNBCTV18.com.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

RBI issues directions for housing finance companies

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Reserve Bank of India (RBI) on Wednesday came out with a slew of directions related to maintenance of liquidity coverage ratio, risk management, asset classification and loan-to-value ratio, among others, for housing finance companies (HFCs).

The central bank said these directions, which shall come into force with an immediate effect, are aimed at preventing the affairs of any HFCs from being conducted in a manner detrimental to the interest of investors and depositors.

“All non-deposit taking HFCs with asset size of Rs 100 crore and above and all deposit-taking HFCs (irrespective of asset size) shall pursue liquidity risk management, which inter alia should cover adherence to gap limits, making use of liquidity risk monitoring tools and adoption of a stock approach to liquidity risk,” the RBI said. The board of each HFC would ensure that the guidelines are adhered to.

The RBI issued a Master Direction-Non-Banking Financial Company-Housing Finance Company (Reserve Bank) Directions, 2021, on Wednesday. As per the definition, an HFC is an NBFC whose financial assets, in the business of providing finance for housing, constitute at least 60 percent of its total assets.

The RBI said HFCs shall maintain a liquidity buffer in terms of liquidity coverage ratio (LCR), which will promote their resilience to potential liquidity disruptions by ensuring that they have sufficient high-quality liquid asset (HQLA) to survive an acute liquidity stress scenario lasting for 30 days.

All non-deposit taking HFCs with an asset size of Rs 10,000 crore and above, and all deposit-taking HFCs irrespective of their asset size will have to achieve a minimum LCR of 50 percent 2021 and gradually to 100 percent by December 1, 2025.

Non-deposit-taking HFCs with an asset size of Rs 5,000 crore and above, but less than Rs 10,000 crore will have to reach a minimum LCR of 30 percent by December 1, 2021, and to 100 percent by December 1, 2025. As per the new directions, HFCs lending against the collateral of listed shares shall maintain a loan-to-value (LTV) ratio of 50 percent.

“Any shortfall in the maintenance of the 50 percent LTV occurring on account of the movement in the share price shall be made good within seven working days,” the central bank said.

For loans granted against the collateral of gold jewellery, HFCs shall maintain an LTV ratio not exceeding 75 percent.

The central bank also prevented HFC to accept or renew public deposit unless it has obtained a minimum investment grade rating for fixed deposits from any one of the approved credit rating agencies, at least once a year.

“No HFC shall invite or accept or renew public deposit at a rate of interest exceeding twelve and a half per cent per annum or as revised by the Reserve Bank,” the RBI said.

The RBI asked HFCs to ensure that at all times, there is full cover available for public deposits accepted by them. In case an HFC fails to repay any public deposit or part thereof as per the terms, it shall not grant any loan or other credit facility or make any investment or create any other asset as long as the default exists, as per the directions.

The central bank also barred HFCs to lend against their own shares. “No housing finance company shall grant housing loans to individuals up to Rs 30 lakh with LTV ratio exceeding 90 percent and above Rs 30 lakh and up to Rs 75 lakh with LTV ratio exceeding 80 percent,” the directions said.

These entities also cannot offer housing loans to individuals above Rs 75 lakh with LTV ratio exceeding 75 percent. Every housing finance company shall maintain a minimum capital ratio on an ongoing basis consisting of tier-I and tier-II capital, which shall not be less than 13 percent as on March 31, 2020, 14 per cent on or before March 31, 2021, and 15 per cent on or before March 31, 2022, and thereafter, the RBI said.

An HFC also cannot lend to any single borrower exceeding 15 percent of its owned fund, and any single group of borrowers exceeding twenty-five percent of its owned fund. It also cannot invest in the shares of another company exceeding 15 percent of its owned fund and in shares of a single group of companies exceeding 25 percent of its owned funds.

“In case of companies in a group engaged in real estate business, HFCs may undertake exposure either to the group company engaged in real estate business or lend to retail individual homebuyers in the projects of such group companies,” the new directions said.

In case HFC prefers to undertake exposure in group companies, such exposure by way of lending and investing, directly or indirectly, cannot be more than 15 percent of owned fund for a single entity in the group and 25 percent of the owned fund for all such group entities.

The RBI said the aggregate exposure of an HFC to the capital market in all forms (both fund-based, and non-fund based) should not exceed 40 percent of its net worth as of March 31 of the previous year.

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3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Stock Market Highlights: Sensex falls 379 points, Nifty ends below 15,150; autos drag; PSU banks, smallcaps outperform

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Stock Market Highlights: Indian benchmark equity indices, Sensex and Nifty ended lower on Thursday dragged by losses in the private banks, financial and auto stocks. Broader markets outperformed the benchmarks as smallcap and midcap indices closed higher. Gains were witnessed in PSU banks, metals and IT stocks.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow