RBI's Report on NBFCs, Developments in Crude Oil Markets, and Top Cues in Focus Today

Fri, 27 Dec Pre-Open

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India share markets witnessed huge selling pressure yesterday and ended their day deep in the red.

At the closing bell yesterday, the BSE Sensex stood lower by 297 points (down 0.7%) and the NSE Nifty stood down by 88 points (down 0.7%).

The BSE Mid Cap index ended down 0.1%, while the BSE Small Cap index ended up by 0.4%.

Stocks in the telecom sector and energy sector witnessed huge selling pressure, while metal stocks were trading in the green.

Top Stocks in Focus Today

From the finance sector, Dewan Housing Finance Ltd (DHFL) share price will be in focus today as reports suggested that the housing finance firm is expected to resume lending after a gap of seven months.

The corporation, which is under insolvency resolution process, is planning to resume lending to stay relevant in the business.

Reports state that, central bank-appointed administrators at DHFL have decided to lend about Rs 5 billion every month beginning the next few weeks.

The report added that the consortium of lenders, led by the State Bank of India, granted the permission to resume lending in October.

Manappuram Finance share price will also be in focus today as the Financial Resources and Management Committee of the board of directors of the company approved the issuance of the private placement of rated, secured, redeemable non-convertible debentures having face value of Rs 10 lakh each for the amount of Rs 3.5 billion.

Saudi Arabia and Kuwait Sign Agreement for Resumption of Oil Production in Neutral Zone

Saudi Aramco said on Wednesday a new agreement between Saudi Arabia and Kuwait paves the way for the resumption of oil production in the Neutral (partitioned) Zone shared by the two countries.

Saudi Minister of Energy Prince Abdulaziz bin Salman and Kuwaiti Foreign Minister Sheikh Ahmad Nasser al-Mohammad al-Sabah signed an agreement and a memorandum of understanding in Kuwait, the reports noted.

The two OPEC members halted production at the jointly operated Khafji and Wafra fields, which together produce some 500,000 barrels of oil a day (bpd) or up to 0.5% of the world's oil supply, in 2014 and 2015, respectively.

With lots going in oil front, where do you think are oil prices headed? And what does it mean for the Indian markets?

Well, India's no.1 trader, Vijay Bhambwani shares his insights and updates on his YouTube channel regularly.

In his latest video, he talks about how you can hedge against the rising crude oil prices and also gives a perspective as to what's actually happening in this space.

Tune in to find out more...

Govt. May Come Up with Highest-Ever Divestment Target

As per a leading financial daily, the government may come up with the highest-ever divestment target of Rs 1.5 lakh crore in the Budget come February.

As per the news, the government may draw up a list of PSUs where stakes will be reduced below 51% next year.

DIPAM is pushing for corporatisation of Life Insurance Corporation of India (LIC) and The Airports Authority of India (AAI) to help list the companies. It is eyeing about Rs 900 billion from the completion of Bharat Petroleum Corporation (BPCL) and Container Corporation of India (CONCOR) stake sale in the first half of FY21.

So far, the government has raised just Rs 173.6 billion this year through disinvestment proceeds with no strategic sale against its disinvestment target of Rs 1.05 lakh crore.

How this pans out remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

NBFC Sector Sees Sharp Jump in NPA Ratio

The Reserve Bank of India (RBI) in its report on Trends and Progress 2018-19 has said that the non-banking financial company (NBFC) sector, which has been affected by a series of default by Infrastructure Leasing & Financial Services (IL&FS), reported a sharp jump in gross non-performing assets (NPA) ratio to 6.1% in FY19 from 5.3% in FY18.

The net NPA ratio saw a marginal uptick at 3.4% in the fiscal ended March 2019, compared to 3.3% in FY18.

The RBI in its report said in FY20, up to September, asset quality of the sector showed deterioration with a slight increase in gross non-performing asset (GNPA) ratio.

The net NPA ratio for NBFCs-ND-SI edged up marginally, reflecting the maintenance of adequate buffers, especially by microfinance institutions (MFIs) and Infrastructure Finance Companies (IFC).

Stay tuned for more updates from this space.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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