Stocks to Watch: HDFC, ICICI, IDBI Bank, TVS Motors, JSW Infra, Delhivery
HDFC/ICICI/SBI Cards/Bajaj Finance: The Reserve Bank on Thursday tightened norms for consumer credit as it asked banks and NBFCs to assign a higher risk weight for unsecured personal loans, a move aimed at making the lenders more cautious on such advances. The risk weight on unsecured consumer loans has been raised by 25 percentage points. A higher risk weight means that lenders need to set aside more funds as a safety net for consumer loans, which could make such credit more expensive.
IDBI Bank: Department of Investment and Public Asset Monetisation (DIPAM) secretary Tuhin Kanta Pandey on Thursday said the disinvestment in IDBI Bank Ltd may not be completed in the current fiscal year. Pandey said that the transaction is “on course" but there are aspects like the RBI's fit and proper criteria which need to be complied with. “We practically don't think that before March, we can conclude it (IDBI Bank stake sale)," he said.
TVS Motors: To mark its entry into the European market, TVS Motors signed an agreement with Emil Frey for the import and distribution of two-wheelers, the company said in its stock exchange filing on Thursday. The Zurich-based Emil Frey is one of the largest automobile importers and retailers in Europe with strong ties with leading automotive brands across the region. Under the agreement, Emil Frey will be responsible for the distribution of TVS products in selected countries.
JSW Infrastructure: Sajjan Jindal-led JSW Infrastructure Ltd on Thursday announced it has acquired the rights to develop a greenfield port in Karnataka with an initial capacity of 30 million tonnes per annum (mtpa). The project is set to be completed in the next five years. The company emerged as the winning bidder for developing
. Read more on livemint.com
