Oyo CEO Ritesh Agarwal touts hospitality start-up despite criticism

Indian budget hotel chain start-up Oyo, valued at $10 billion in its latest fundraising round, has faced a number of gripping headlines, including multiple reports of hotel owners in India and China not getting adequate compensation from the company. In an exclusive interview with CNBC’s Seema Mody on “Squawk Alley” on Tuesday, Oyo’s CEO and founder, Ritesh Agarwal, dismissed those complaints and instead touted Oyo’s business model. “One of the things that’s consistent, if you speak to hotel owners or customers across the world, is that the proposition of Oyo…

Today’s picks: Hero to Tata Motors, hot stocks to watch on Wednesday

Nifty Current: 11,992 (fut: 12,019) Target: NA Stop long positions at 11,920. Stop short positions at 12,120. Big moves could go till 12,250, 11,750. Trend seems negative. A long Feb 27 11,900p (47), short 11,800p (26) could gain 10-15 if the index drops below 11,900. Bank Nifty Current: 30,562 (fut: 30,625) Target: NA Keep a stop at Rs 793 and go long. Add to the position between Rs 806-809. Book profits…

Herbalife, Groupon, LendingClub and more

Herbalife distribution center in Los Angeles. Patrick T. Fallon | Bloomberg | Getty Images Check out the companies making headlines after the bell: LendingClub – Shares of the fintech company were down 1.98% in extended-hours trading after it announced plans to pay $185 million in cash and stock for Radius Bancorp, a Boston-based online bank with about $1.4 billion in assets. The company’s projected growth in 2020 is now weaker-than-expected as it seeks to become a registered bank. Groupon – Stock of the online commerce company fell 25% in extended…

Coronavirus live updates: China Hubei deaths

This photo taken on February 17, 2020 shows a member of the medical staff (L) doing a massage for a patient who has displayed mild symptoms of the COVID-19 coronavirus at an exhibition centre converted into a hospital in Wuhan in China’s central Hubei province. STR | AFP | Getty Images This is a live blog. Please check back for updates. All times below are in Beijing time. 7:03 am: Hubei province reports an additional 132 deaths Hubei province in China reported an additional 132 deaths and 1,693 newly confirmed…

Farmers irked as prices of pulses fall below MSP ahead of rabi harvesting

With rabi harvesting a few weeks away, prices of pulses in select mandis have slipped to trade below their minimum support price (MSP) — the threshold at which the government procures the kitchen staple. While chana (Bengal gram) in Gadag (Karnataka) is selling at Rs 4,122 a quintal — 11 per cent below its MSP of Rs 4,620 a quintal — prices of moong (green gram) in Nasrullaganj (Madhya Pradesh) slipped to Rs 5,201 a quintal — a staggering 26 per cent below its MSP of Rs 7,050 a…

Stocks take a hit after Apple warning

Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters Dow Jones Industrial Average falls 165 points The slid 165.89 points, or 0.56%, close at 29,232.19. The dipped 0.29% to 3,370.29. The climbed 0.02% to 9,732.74. The major averages were under pressure for most of Tuesday’s session after a stark warning from Apple. Apple warning weighs on market Apple warned it will not meet its revenue guidance for fiscal second quarter of 2020 as the coronavirus outbreak in China hinders the tech giant’s supply chain.…

Bed Bath & Beyond to invest $1 billion on share buybacks, debt reduction and store upgrades

Shoppers exit a Bed Bath & Beyond store in New York. Michael Nagle | Bloomberg | Getty Images Bed Bath & Beyond said Tuesday it plans to spend about $600 million this fiscal year on share repurchases and debt reduction, and up to $400 million on store remodels and supply chain upgrades.  Its shares were down less than 1% in after-hours trading on the news.  This is breaking news. Please check back for updates.  The retailer earlier Tuesday morning announced it had agreed to sell its PersonalizationMall.com business, known for selling…

Shree Cement pips Dabur and Godrej Consumer to replace Yes Bank in Nifty

Shree Cement will replace Yes Bank in the benchmark Nifty 50 index, NSE said in a release. The changes will be effective from March 27. Shree Cement would join Ultratech Cement as cement manufacturers in the bluechip company index. The Kolkata-based cement maker has pipped Dabur and Godrej Consumer Products (GSPL) who were among the front-runners for index inclusion. Among the three companies, Shree Cement has the highest free-float market capitalisation, thanks to a Rs 3,000-crore fund raise in November. The National Stock Exchange has…

LendingClub buys Radius Bank in first fintech takeover of a bank

Lending Club banners hang on the facade of the New York Stock Exchange for it’s IPO on December 11, 2014 in New York. Don Emmert | AFP | Getty Images LendingClub, a fintech company that pioneered personal loans made online, is buying a U.S. bank to give it access to a stable and cheaper source of funding, CNBC has learned. LendingClub is paying $185 million in cash and stock for Radius Bancorp, according to documents viewed by CNBC. Radius, a Boston-based online bank with about $1.4 billion in assets, is…