See pressure on credit profiles of telcos: Ind-Ra

India Ratings & Research revised its outlook on the telecom sector from stable to 'stable-to-negative' for the current year. Tanu Sharma, telecom analyst with the research house, says this is due to the increase in the intensity of competition that is likely to happen post the Rel Jio launch. She believes pressure on the credit profiles of telcos is likely to increase. According to her, despite the fact that telcos are already debt-laden, they will have to increase investment to tackle the call drop problem and strengthen infrastructure further.

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RBI inaction early on to blame for current NPA mess: Ex-SBI boss

The problem of non-performing assets in public sector banks has grown to an alarming level mainly because of the lack of pro-active measures from the RBI in the initial stages, ex-SBI Chairman Pratip Chaudhuri tells CNBC-TV18. He says the RBI should have introduced a uniform provisioning standard long back when it saw that some banks were treating a loan as NPA while some other banks were treating the same loan as a performing asset. "RBI should have moved towards uniform provisioning across banks 2-3 years back," Chaudhuri says.

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The market has opened lower once again. The Sensex is down 57.93 points or 0.2 percent at 23591.29 and the Nifty is down 39.30 points or 0.5 percent at 7152.45. About 211 shares have advanced, 286 shares declined, and 24 shares are unchanged. Bajaj Auto, Wipro and Reliance are top gainers while BHEL, Hindalco, L&T, Tata Steel and HDFC are losers in the Sensex. Jet Airways is up 3 percent.

In the last two trading sessions, the benchmark Sensex surged over 450 points triggering a bout of profit-booking in trades today.Meanwhile, selling pressure was visible across the sectors. Metal, capital goods, PSU banking, oil & gas and auto indices were down 0.35-1.25 per cent each.

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The S&P BSE Sensex slipped over 100 points in morning trade on Friday, led by losses in HDFC, L&T, Axis Bank, HDFC Bank, and Maruti Suzuki India Ltd. The Nifty50 was trading around its crucial level of 7150, weighed down by losses in metals, realty, power, capital goods, and banking stocks. 

India's stock markets rose more than 1 percent on Thursday to post its second straight day of gains as energy and mining stocks were boosted by a rise in crude oil prices, even as European shares faltered after poor corporate results.Asian stocks also rose across the board as crude oil steadied on hopes that big producers will cap output.

Stocks you can buy today & sell tomorrow

 "One can buy Kotak Mahindra Bank   with a target of Rs 654 and a stop loss at Rs 622." 

"One can also buy Hero Motocorp   with a target of Rs 2700 keeping a stop loss at Rs 2565," 

"One can buy Britannia Industries   with a target of Rs 2820 keeping a stop loss at Rs 2700."

 "One can also buy Infosys   with a target of Rs 1165 and a stop loss of Rs 1100."

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Budget 2016: Need tax reforms to boost economic growth, says FICCI

In the mammoth of expectations for the approaching Budget, growth friendly tax policies form an integral fraction of the event to boost India's economic growth, says a Federation of Indian Chambers of Commerce and Industry (FICCI) in report 'Pre-Budget Memorandum 2016-17'. While the proposal to reduce corporate tax rates announced last year was correct, there are several other factors still needed to be addressed, it suggests. The report highlights importance of clarity in tax laws and other significant implementations needed to boost trade and economy.

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The market gained more than 1 percent in early trade, tracking positive trend in global peers and oil rally. All sectoral indices were trading in green. The 30-share BSE Sensex rose 297.08 points or 1.27 percent to 23678.95 and the 50-share NSE Nifty jumped 86.90 points or 1.22 percent to 7195.35. The BSE Midcap and Smallcap indices also gained more than 1 percent. The market breadth was strong as about five shares advanced for every share declining on the Bombay Stock Exchange.

Buying was visible across the sectors. Capital goods, oil & gas, banking, FMCG, realty, metal and pharma indices rose above over 1 per cent each.

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The BSE benchmark Sensex climbed over 300 points, while the NSE barometer Nifty50 reclaimed 7,200 mark in early trade on Thursday, after US stocks rallied in overnight after Fed minutes suggested delays to further Fed rate hikes, at least for the time being. 

The NSE rose 0.85 percent to 7,108.45, not far from the session's high of 7,123.70, after earlier falling to as low as 6,960.65.The benchmark BSE Sensex rose 0.82 percent to close at 23,381.87 after earlier also falling as much as 1.2 percent.

Cabinet approves WTO's trade facilitation pact

The Cabinet today approved WTO's Trade Facilitation

Agreement and decided to set up a national committee for overseeing the implementation of the TFA which aims to smoothen the flow of commerce globally. The Cabinet approved the proposal for Notification of Commitments under the TFA of WTO, ratification and acceptance of the Instrument of Acceptance of Protocol of TFA to the WTO Secretariat and constitution of the National Committee on Trade Facilitation (NCTF), said IT and Telecom Minister Ravi Shankar Prasad.

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Govt may not raise time frame of long-term capital gains tax

It is unlikely that the government will raise the time frame of long-term capital gains tax to three years from the current one year given the market scenario.Recent reports have suggested that the government is mulling whether to change the definition of 'long term' from one year to three years, thus ensuring that investors don't exit till three years unless willing to pay tax.the government currently gets Rs 6,000-7,000 crore through the Securities Transaction Tax (STT) and will have to forego this assured sum if it goes ahead with increasing the time period of long-term capital gains.

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The market has slipped further. The Sensex is down 143.34 points or 0.6 percent at 23048.63, and the Nifty slips 48.40 points or 0.7 percent at 6999.85. About 332 shares have advanced, 1156 shares declined, and 47 shares are unchanged. Dr Reddy's Labs, NTPC, Tata Motors, Infosys and Sun Pharma are top gainers while Hindalco, SBI, Tata Steel, Coal India and Adani Ports are losers in the Sensex.

Selling continued in the banking shares. The Bank Nifty fell 1.2 per cent while Nifty PSU Bank index slumped 2.65 per cent. Bank of India, Canara Bank, Union Bank of India, Punjab National Bank, IDBI Bank, Yes Bank, State Bank of India and Bank of Baroda were among the losers, down 2.2-5.5 per cent each.

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The S&P BSE Sensex slipped over 150 points tracking weak cues from other Asian markets on Wednesday, led by losses in ITCBSE -1.71 %, SBI, ICICI Bank BSE -1.24 %, L&T, and RIL BSE -0.86 %.The Nifty50 was trading below its crucial level of 7000, weighed down by losses in power, oil & gas, metal, consumer durable, capital goods, banks, and auto stocks.

The NSE Nifty fell 1.6 percent on Tuesday, posting its first drop in three sessions, as investors booked profits in banks and capital goods stocks, while sentiment was also hit after exports shrank in January for a 14th straight month.

Chased by banks, indebted midcaps cut informal deals with HNIs

With banks stepping up the pressure on stressed borrowers ahead of the financial year ending, many debt-laden midcap firms are learnt to be striking informal deals with high networth individuals (HNIs) for funds. These listed companies are said to be offering annualized interest rates as high as 50 percent, said one person who was approached by a struggling steel company for a six-month loan.

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State Bank of India looks to woo Japanese business

State Bank of India   (SBI) launched an initiative on Tuesday to help strengthen business ties between Asia's third-largest economy and Japan, where investors eyeing Indian markets need support in navigating the country's notoriously complex bureaucracy. SBI dedicated Japan desk offers wholesale and retail banking products like rupee funding for Japanese businesses and banks, as well as guidance on Indian companies and regulations.

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The market has slipped into red. The Sensex is down 69.95 points or 0.3 percent at 23484.17 and the Nifty is down 18.40 points or 0.3 percent  at 7144.55. About 795 shares have advanced, 685 shares declined, and 74 shares are unchanged. Adani Ports, ONGC, NTPC, Bharti Airtel and Hero MotoCorp are top gainers while Lupin, Coal India, M&T, Maruti and ICICI Bank are major losers in the Sensex.

 
Buying was seen in select BSE oil & gas, metal, realty, auto, power and banking stocks. On the other hand, capital goods and IT stocks were witnessing selling.

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The S&P BSE Sensex pared all of its gains in early morning trade on Tuesday after rising over 100 points, led by gains in Tata Motors, ICICI Bank, RIL, ONGC, and Sun Pharma.The Nifty50 was trading above its crucial psychological level of 7,150 after reclaiming 7,200 for a brief period of time, supported by gains in power, realty, oil & gas, banks, auto, and metal stocks. 

Among gainers, State Bank of India (SBI.NS) soared 9 percent on value-buying after the stock fell as much last week. India's biggest lender on Friday reported the biggest fall in its quarterly profit in nearly five years as bad loan provisions jumped.

Bad loans & loss yet BoB jumps 24%: Why is clean up impressive

Quantum of loss that Bank of Baroda   incurred in December quarter is quite high yet investors are buying the stock instead of dumping it. The government-run bank posted a massive loss of Rs 3342 crore in September-December quarter against a net profit of Rs 334 crore in the year ago period. Its asset quality worsened with gross non-performing assets at Rs 38934.1 crore in Q3, up 64.2 percent from Rs 23710.33 crore on a sequential basis. The bank's provision climbed by a whopping 388.4 percent to Rs 6164.55 crore against Rs 1262.25 crore (YoY).

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Infograph: Stocks post biggest weekly loss since July 2009

After Thursday’s bloodbath, the market saw minor relief on Friday’s trading session as both Nifty and Sensex closed in green. However, both the indices saw their biggest weekly loss since July 2009. Here is a comparison of the start of this week’s trading session and the end.

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The market rebounded on Monday after losing more than 6 percent in previous week. The 30-share BSE Sensex surged 296.17 points or 1.29 percent to 23282.29 and the 50-share NSE Nifty climbed 97.65 points or 1.40 percent to 7078.60. The market breadth was strong as about 811 shares advanced against 168 declining shares on the BSE.

Asian markets were trading sharply higher with Japan's Nikkei surging over 5 per cent, Hong Kong's Hang Seng advanced 2.3 per cent and South Korea's KOSPI rose 1.4 per cent. On the other hand, China's CSI 300 index was down 1.7 per cent.

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The benchmark indices climbed over 1 per cent in trade on Monday after the Chinese central bank PBoC allayed some fears over depreciating yuan by setting its fixing at a one-month high. Data across the globe was negative with preliminary figures showing Japanese economy contracting in the December quarter, while both imports and exports in China degrowing in January.

Asian shares fell for a sixth straight session on Friday as concerns about the health of European banks further threatened a global economy already under strain from falling oil prices and slowdowns in China and other emerging markets.