Alibaba (BABA) Stock Rising on India Bank Deal

NEW YORK (TheStreet) -- Shares of Alibaba (BABA) are increasing 0.35% to $86.04 on Monday after the company said that it is partnering with ICIC Bank, India's largest private sector bank, to provide easier trade finance to India-based sellers on the portal, according to the companies.

"We are delighted to be the first bank in India to partner with Alibaba.com for their online trade facilitation centre," ICIC Bank Executive Director Rajib Sabharwal stated.

ICIC Bank will offer Alibaba members special propositions across a spectrum of business services ranging from accounts, letter of credit, bank guarantees, remittances, forex, loans and cash management solutions.

Additionally, e commerce giant Alibaba wants to consider a subscription video streaming model, according to eMarketer. The company wants to leverage China's booming online video market, as China's online video market has grown at a fast year-over-year rate in excess of 60% in the last few quarters.

Also, the Hong Kong stock exchange on Friday opened its doors to Alibaba listing on its home market, the Financial Times reports.

Separately, TheStreet Ratings team rates INTL BUSINESS MACHINES CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate INTL BUSINESS MACHINES CORP (IBM) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity, good cash flow from operations, growth in earnings per share and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."

BABA Chart BABA data by YCharts

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