Shares of Shakti Pumps (India) fell over 3 percent on BSE on December 6 after CARE revised the company's credit rating for its long-term bank facilities."CARE Ratings has revised credit rating for long-term bank facilities from "CARE A-" with a stable outlook to "CARE A-" with a negative outlook," the company said in a regulatory filing.CARE reaffirmed "CARE A2+" on the company's short-term bank facilities.Close Around 15:00 hours IST, shares of the company traded 2.90 percent down at Rs 207.85 on BSE.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here. … [Read more...] about Shakti Pumps shares fall 3% after CARE revises credit rating
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‘Rate cut unlikely in Feb MPC meet; key risk factor continues to be potential overshoot on fiscal side’
Lakshmi IyerThe Monetary Policy Committee (MPC) on December 5 voted to keep the policy repo rate, under the liquidity adjustment facility (LAF), unchanged at 5.15 percent even while maintaining the accommodative stance.This is in contrast to the market and our expectations of a 15-25 bps cut in rates. As per the policy statement, the decision is in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent. All the members of the MPC voted in favour of keeping rates unchanged.Close It was natural for bond yields to spike by 10-15 bps across the curve, as rate cut was almost priced into bond yields. 10-year benchmark government bond yield is at 6.60 percent (up from 6.45 percent levels pre-policy)Lakshmi IyerCIO (Debt) & Head – Products|Kotak Mutual Fund 'Bond market will cheer RBI decision if tone remains accommodative’Shaktikanta Das does a Hrithik, delivers a blockbuster … [Read more...] about ‘Rate cut unlikely in Feb MPC meet; key risk factor continues to be potential overshoot on fiscal side’
Trade deal optimism, positive China manufacturing data may limit further downside in Zinc
Hareesh VDespite positive Chinese manufacturing numbers and improved trade deal optimism, Zinc prices in the international and domestic markets tumbled to multi-month lows.Prices gained considerably in the first half of the year but nosedived to a three year low by September on feeble demand expectation from China.Close China is the world’s largest zinc producer. Additionally, the country is the top consumer, accounting for about half of the global consumption. However, the 16 months old trade dispute with the US has roiled the Chinese manufacturing sector and demand for zinc. related news How to evaluate your risk appetite? December is usually volatile, pause is not negative trigger as articulated Jute could be among priority industries to bet on in next rally Zinc is largely used for galvanising steel, hence, about 50 percent of global demand is from the construction sector. Transportation, infra, industrial machinery and consumer products are the other … [Read more...] about Trade deal optimism, positive China manufacturing data may limit further downside in Zinc
100-Word Take | The market is hoping Fed chief Powell has become a dove
Manas ChakravartyA 25 basis point hike in the US Fed Funds rate this week has already been priced in by the markets. What's more interesting is that the markets believe the policy rate will be either at the same level in December 2019, or at most, there will be just one more hike.A combination of dovish remarks by US Fed officials and fears of a US slowdown have led to lowered market expectations of Fed rate increases. The Fed Chairman's comments will tell us whether this view is correct and whether emerging markets can look forward to a weaker dollar.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here. … [Read more...] about 100-Word Take | The market is hoping Fed chief Powell has become a dove
Stocks in news: Max India, CSB Bank, CG Consumer, HDFC AMC, Bajaj Finance, Natco Pharma, NBCC
Here are some stocks that are in the news today:CSB Bank: The lender is to make a debut on bourses on December 4, final issue price at Rs 195 per share.Close Ujjivan Small Finance Bank IPO closes today related news This stock has gained 77% in the last 14 consecutive sessions Shakti Pumps shares fall 3% after CARE revises credit rating BPSL insolvency: NCLAT asks ED, Centre to file affidavits on JSW Steel immunity plea on Dec 12 Crompton Greaves Consumer Electricals: SBI Mutual Fund bought 30,096,000 shares of the company through a bulk deal on BSE.Max India - IRDAI approves divestment of its 51% stake in Max Bupa Health Insurance Company to True NorthIFCI - ICRA revised ratings of fund based Bank limits, long term bonds (including Subordinated Debt) and bonds / NCD (Public Issue) from ICRA BBB to ICRA BBB-Future Consumer: CARE Ratings has re-affirmed its rating assigned to the company's commercial paper worth Rs 100 crore.Natco Pharma: The company had completed the … [Read more...] about Stocks in news: Max India, CSB Bank, CG Consumer, HDFC AMC, Bajaj Finance, Natco Pharma, NBCC