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Realty & Pharma Trade Higher
Thu, 7 Jul 01:30 pm

Indian indices are witnessing a choppy ride during the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the realty and healthcare trading in green while IT sector bearing the maximum brunt.

The BSE Sensex is trading higher by 28 points (up 0.1%) and the NSE Nifty is trading lower by 5 points (down 0.1%). The BSE Mid Cap index is trading lower by 0.1% while the BSE Small Cap index is trading higher by 0.4%. Gold prices, per 10 grams, are trading at Rs 32,083 levels. Silver price, per kilogram, is trading at Rs 47,736 levels. Crude oil is trading at Rs 3226 per barrel. The rupee is trading at 67.45 to the US$.

As per an article in The Economic Times, the auto industry could see a set of price hikes owing to the rising price curve of commodities.

As per the report, the hike is likely due to a jump in the prices of commodities used in manufacturing of cars. Steel prices have soared by 36% in the last six months while natural rubber has rebounded by 25%. Moreover, aluminum and copper prices are also surging.

Consequently, this could impact the companies making cars, SUVs and commercial vehicles as well as major parts makers. The commodity tweak could lead to price mark-ups so as to compensate the increase in costs, the report stated.

Further, the appreciation of yen in the international market which has increased the cost of parts imported from Japan is also one of the contributing factors. It will be interesting to watch out how automakers pass on part of the margin pinch.

Moving on to the news from banking sector. According to a leading financial daily, Bank of Baroda (BoB) is set to offer rating-based lending to retail mortgage loan seekers. This involves lending based on credit scores unlike a uniform rate regardless of the credit quality.

BoB stated that this will help them identify the right kind of borrower with the least probability of default.

Reportedly, this change is expected to improve the quality of bank's retail portfolio. It will also provide an opportunity to the customer to maintain a steady credit behavior and improve his credit score to get the benefit of lower rates.

Further, the scoring based pricing will be based on the CIBIL's (Credit Information Bureau of India Limited) score. The rating is done on a scale of 300-900 points. Low rating is assigned to the least trustworthy and high rating is assigned to blue chip customers.

One shall note that, Indian banks charge corporate customers based on their credit rating, but haven't extended this policy to retail borrowers.

In FY 2015-16, BoB's home loans contributed to nearly 9% of its total advances at Rs 249.7 billion. Other retail loans contributed 7.6% to the total book at Rs 214.6 billion. Click Here (Subscription Required) to read our fourth quarter result analysis on Bank of Baroda.

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