Stock Market

US stocks drop as China rally ignored, dollar gains

nvestors in US equities downplayed an overnight rally in Asian equities and stocks turned lower ahead of a spate of earnings reports this week. Photo: AFP New York: Investors in US equities downplayed an overnight rally in Asian equities and stocks turned lower ahead of a spate of earnings reports this week. The dollar strengthened, …

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SBI plans to raise up to Rs 25,000 crore in FY19

1 SBI plans to raise up to Rs 25,000 crore in FY19 Crisil downgrades SpiceJet’s loan facilities After Market: Smallcaps falter; 225 stocks hit 52-week lows Tech view: Nifty50 forms bearish candle; further downside likely F&O: Option band shows Nifty50 likely to fall towards 10,200 level Sensex ends in the red after late selloff, down …

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Largecap funds underperform their benchmarks

New Delhi: Most of the large cap as well as mid and small-cap equity funds underperformed their respective benchmark indices over a one-year period ended June, latest data from SPIVA India scorecard shows. During the one-year period ending June 30, 2018, 88 per cent of large-cap equity funds underperformed their benchmark S&P BSE 100 index, …

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Crisil downgrades SpiceJet’s loan facilities

Mumbai: Ratings agency Crisil has downgraded its ratings on the bank facilities of low fare carrier SpiceJet citing mounting pressures on cost structure and a limited ability to pass it on consumers due to cuthroat price wars. It has downgraded the facilities to ‘CRISIL BB-/Negative/CRISIL A4’ from ‘CRISIL BBB/Stable/CRISIL A3+’. Instruments with the BB- rating …

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Muthoot Capital Services Q2 profit nearly doubles to Rs 20 crore

1 Muthoot Capital Services Q2 profit nearly doubles to Rs 20 crore Havells India reports Rs 171 crore profit for July-September Havells India Q1 net drops 22% to Rs 114 crore Havells Q4 net down 74 per cent to Rs 94.70 crore Havells India posts 27.55% yoy rise in Q3 net profit at Rs 152.97 …

Muthoot Capital Services Q2 profit nearly doubles to Rs 20 croreRead More »

Hindustan Zinc Q2 profit drops 30% YoY to Rs 1,815 crore

KOLKATA: Hindustan Zinc reported a 30 per cent drop in profit for September quarter to Rs 1,815 crore against Rs 2,584 crore in the year-ago period on lower metal prices. The company also posted a 10 per cent decline in revenue from operations to Rs 4,777 crore over the same period last year, on reduced …

Hindustan Zinc Q2 profit drops 30% YoY to Rs 1,815 croreRead More »

Gold prices slip today, silver rates edge lower

Globally, gold prices fell today, retreating from last week’s 2-1/2 month peak as rallying global stock markets pointed to improved investor appetite for risk. Photo: Mint New Delhi: Gold prices today slipped by ₹50 to ₹32,220 per 10 gram at the bullion market amid a weak global trend and slackened demand from local jewellers. Silver …

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Asian Paints Q2 profit falls 14% to Rs 493 crore, misses Street estimates

1 Asian Paints Q2 profit falls 14% to Rs 493 crore, misses Street estimates Havells India reports Rs 171 crore profit for July-September Havells India Q1 net drops 22% to Rs 114 crore Havells Q4 net down 74 per cent to Rs 94.70 crore Havells India posts 27.55% yoy rise in Q3 net profit at …

Asian Paints Q2 profit falls 14% to Rs 493 crore, misses Street estimatesRead More »

After Market: Smallcaps falter; 225 stocks hit 52-week lows

NEW DELHI: Market lost nerve today for the third consecutive day — this time, over fears of a stubborn liquidity crunch — as equity benchmarks Sensex and Nifty closed with losses despite positive Asian leads. While the rupee turned shaky and oil prices ticked up globally, worries that the liquidity problem might have a contagion …

After Market: Smallcaps falter; 225 stocks hit 52-week lowsRead More »

Tech view: Nifty50 forms bearish candle; further downside likely

Equities failed to capitalise on the opening gains, as the NSE benchmark Nifty fell over 180 points from the day’s high to end 0.57 per cent lower. Nifty closed 58.30 points down at 10,245.25 after touching an intraday high and a low of 10,408.55 and 10,224, respectively. Experts noted that Nifty50 resisted its important pattern …

Tech view: Nifty50 forms bearish candle; further downside likelyRead More »

F&O: Option band shows Nifty50 likely to fall towards 10,200 level

ByChandan Taparia The NSE Nifty opened in the positive zone on Monday, but was unable to completely fill its falling gap of 10,436-10,380 zone and corrected towards the 10,220 level in the last hour of the session. The index formed a bearish belt hold candle on the daily chart, as it witnessed selling pressure throughout …

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An evening walk down Dalal Street | Last-hour selling drags Sensex lower, Nifty gives up 10,250; RIL down 4%

Weakness in the last hour of trade dragged equity benchmarks to low points. The Nifty ended the session below 10,250-mark, while the Sensex shed over 180 points. Against this, the market had a strong start, with the Sensex and Nifty having risen a percent each. Financials gave up all of their gains and were a …

An evening walk down Dalal Street | Last-hour selling drags Sensex lower, Nifty gives up 10,250; RIL down 4%Read More »

Affle Holdings gets Sebi’s go ahead for India unit IPO

Proceeds of the issue would be used to fund the working capital requirements of the company and for other general corporate purpose. New Delhi: Singapore-based Affle Holdings has received capital markets regulator Sebi’s go ahead to launch the initial share-sale offering of its Indian unit, merchant banking sources said Monday. The Indian unit — Affle …

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Sensex ends in the red after late selloff, down 181 pts

NEW DELHI: Stock benchmark indices reversed their early gains during the last hour of trade today to settle in the red for the third session in a row amid lingering liquidity concerns, a fresh fall in the rupee and a jump in crude oil prices. Selling in index heavyweight Reliance Industries weighed too. The BSE …

Sensex ends in the red after late selloff, down 181 ptsRead More »

Persistent Systems falls 15% on disappointing Q2 numbers

PUNE: Shares of Pune-headquartered IT firm Persistent Systems fell 14.61 per cent to close at Rs 564.95 on the back on disappointing second quarter results. Earlier in the day, the stock had fallen 18 per cent to 52-week low of Rs 540. The Sensex ended 181.25 points down while the IT index fell 0.73 per …

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Kansai Nerolac, Asian Paints, Berger Paints slip up to 6%

1 Kansai Nerolac, Asian Paints, Berger Paints slip up to 6% Indiabulls Housing Finance surges on report of plans to sell OakNorth stake RBI likely to stay on hold for rest of FY19 Share market live: Infibeam, Persistent, DHFL shares down up to 22% Stock spotting: How to analyse a software products company? Base metal …

Kansai Nerolac, Asian Paints, Berger Paints slip up to 6%Read More »

BHEL board to mull share buyback on Thursday

1 BHEL board to mull share buyback on Thursday Indiabulls Housing Finance surges on report of plans to sell OakNorth stake RBI likely to stay on hold for rest of FY19 Share market live: Infibeam, Persistent, DHFL shares down up to 22% Stock spotting: How to analyse a software products company? Base metal watch: Zinc, …

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Alembic Pharma Q2 profit up 64 % to Rs 200 crore

1 Alembic Pharma Q2 profit up 64 % to Rs 200 crore Havells India reports Rs 171 crore profit for July-September Havells India Q1 net drops 22% to Rs 114 crore Havells Q4 net down 74 per cent to Rs 94.70 crore Havells India posts 27.55% yoy rise in Q3 net profit at Rs 152.97 …

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PNB Housing Finance raises ₹1,775 crore through commercial papers

Stock of PNB Housing closed at ₹713, 0.91% up, on BSE. New Delhi: PNB Housing Finance Monday said it has raised ₹1,775 crore by issuing commercial papers (CPs) to mutual funds and banks during this month. “In spite of the current tight market scenario, our company has successfully raised funds through CPs aggregating to ₹1,775 …

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GSK Pharma Q2 profit down 23% to Rs 101 crore

GlaxoSmithKline (GSK)Pharmaceuticals Monday reported 22.67 per cent fall in standalone net profit to Rs 100.77 crore for the quarter ended September 30, 2018. The company had posted a net profit of Rs 130.32 crore in the year-ago period, GSK Pharma said in a BSE filing. Total income of the company stood at Rs 831.13 crore …

GSK Pharma Q2 profit down 23% to Rs 101 croreRead More »

Indiabulls Housing Finance surges on report of plans to sell OakNorth stake

1 Indiabulls Housing Finance surges on report of plans to sell OakNorth stake Stock spotting: How to analyse a software products company? Base metal watch: Zinc, nickel, lead, copper climb in morning trade China shares leap 4% on authorities’ pledges of support, tax changes ​Why Morgan Stanley is so upbeat on large banks Italian banks …

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RBI likely to stay on hold for rest of FY19

New Delhi: The Reserve Bank of India is expected to keep key policy rates unchanged in the remaining 2018-19 fiscal as inflation may stay ‘benign’ in the range of 3 to 4.4 per cent, says a report. According to the report by Kotak Economic Research, the focus of the Monetary Policy Committee (MPC) remains purely …

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Share market live: Infibeam, Persistent, DHFL shares down up to 22%

1 Share market live: Infibeam, Persistent, DHFL shares down up to 22% Stock spotting: How to analyse a software products company? Base metal watch: Zinc, nickel, lead, copper climb in morning trade China shares leap 4% on authorities’ pledges of support, tax changes ​Why Morgan Stanley is so upbeat on large banks Italian banks help …

Share market live: Infibeam, Persistent, DHFL shares down up to 22%Read More »

Agri-commodity: Tepid demand drags chana, turmeric lower

Chana futures down 0.46 per cent on tepid demandNEW DELHI: prices slipped 0.46 per cent to Rs 4,079 per quintal in futures trade Monday after participants reduced exposure following subdued demand in spot market. In futures trading at the National Commodity and Derivatives Exchange, chana for delivery in November declined by Rs 19 or 0.46 …

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Stock spotting: How to analyse a software products company?

By Arun Mukherjee & Soumya Malani(Kolkata’s Arun Mukherjee, a college dropout by choice, and Soumya Malani, a London School of Economics passout, have come to be known as smallcap aficionados in India’s investor community. They would show up at most AGMs, visit the remotest factories of a company and go chasing end-users to understand their …

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Base metal watch: Zinc, nickel, lead, copper climb in morning trade

Spot demand, global cues lift zinc futures by 0.56 per centNEW DELHI: Zinc futures traded higher by 0.56 per cent to Rs 197.70 per kg Monday as traders enlarged positions following uptick in demand in the spot markets coupled with a firm trend overseas. In futures trade at the Multi Commodity Exchange, zinc for delivery …

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Robust demand lifts mentha oil futures by 1.50%

1 Robust demand lifts mentha oil futures by 1.50% Commodities outlook: Gold may have some cushion at Rs 31,750 Gold Rate Today: Gold, silver down in morning trade IBJA wants commodity exchanges to be outside GST ambit of eMarketplaces Farmers’ protest may delay sugar production Brent oil rises back above $80 as Iran sanctions loom …

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China shares leap 4% on authorities’ pledges of support, tax changes

SHANGHAI: China’s benchark blue-chip index surged over 4 per cent on Monday, posting its best daily performance in almost three years, as investors piled into the battered market after coordinated statements of support by senior regulators. The market was also encouraged by news that China is preparing to overhaul its income tax law for individuals, …

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​Why Morgan Stanley is so upbeat on large banks

Large private banks are close to growing big in stature, given higher interest rates and chaos in the non-banking financial companies (NBFC) space, says Morgan Stanley. Rates have been rising in India for some time, which drove its preference towards banks with strong liquidity, said the global financial services firm. However, the IL&FS default and …

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Italian banks help European shares snap losing streak

MILAN: European shares rose in early deals on Monday after Moody’s decision to keep Italy’s sovereign rating stable eased worries over a sell-off in the country’s government bonds, boosting shares in Italian banks. Italian banks, which are heavily exposed to government bonds, rose more than 3 per cent, driving European banks higher and helping the …

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Commodities outlook: Gold may have some cushion at Rs 31,750

Gold and silver ruled flat today in the wake of lacklustre demand from jewellers, industries, retailers and investors. MCX Silver futures edged down by 0.01 per cent to Rs 38,800 per kg while gold futures slipped 0.11 per cent to Rs 31,868 per 10 grams. How are commodities looking like today? Here’s the outlook by …

Commodities outlook: Gold may have some cushion at Rs 31,750Read More »

IndusInd Bank hits near 15-month low; chart suggests more downside

1 IndusInd Bank hits near 15-month low; chart suggests more downside Nikkei ends higher on China rebound; Kawasaki Heavy sinks Top intraday trading ideas for afternoon trade for Monday, 22 October 2018 Share market update: Metal shares mixed; Jindal Steel & Power up 2% 12 stock ideas that can potentially deliver decent gains over 3 …

IndusInd Bank hits near 15-month low; chart suggests more downsideRead More »

ING gets more bearish on rupee just as the currency rebounds

A global emerging-market sell-off that’s triggered outflows from Indian bonds and stocks has dragged the rupee to new lows this year. Photo: Bloomberg ING Bank NV has lowered its year-end rupee forecast just as the currency is staging a rebound. Rising oil prices and political uncertainty ahead of state elections will see Asia’s worst-performing currency …

ING gets more bearish on rupee just as the currency reboundsRead More »

Nikkei ends higher on China rebound; Kawasaki Heavy sinks

TOKYO: Japan’s Nikkei edged higher on Monday as investors took heart from a rally in Chinese shares on the promise of additional stimulus measures, triggering buying in firms exposed to China. After ending the morning session lower, the Nikkei share average changed course and rose 0.37 per cent to close at 22,614.82, moving off a …

Nikkei ends higher on China rebound; Kawasaki Heavy sinksRead More »

Top intraday trading ideas for afternoon trade for Monday, 22 October 2018

1 Top intraday trading ideas for afternoon trade for Monday, 22 October 2018 12 stock ideas that can potentially deliver decent gains over 3 weeks Piramal Enterprises rallies as company denies loan default buzz Share market update: Nifty Realty index trades flat; Sunteck Realty slumps 3% Share market update: Over 120 stocks touch 52-week lows …

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Share market update: Metal shares mixed; Jindal Steel & Power up 2%

NEW DELHI: Metal shares were trading flat with the Nifty Metal index trading 0.1 per cent up at 3,368.45 around 12:10 pm on Monday. Shares of Jindal Steel & Power (up 2.11 per cent), Vedanta (up 1.99 per cent), Jindal Stainless (Hisar) (up 1.36 per cent) and National Aluminium Company (up 1.19 per cent) were …

Share market update: Metal shares mixed; Jindal Steel & Power up 2%Read More »

12 stock ideas that can potentially deliver decent gains over 3 weeks

NEW DELHI: Snapping a losing streak of two consecutive sessions, equity benchmarks Sensex and Nifty saw a positive opening on Monday after its Asian peers rebounded amid geopolitical concerns around Saudi Arabia, Italy and Brexit. A fresh spell of buying in select bank and financial stocks lifted the market. But IT, auto, metal and telecom …

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Piramal Enterprises rallies as company denies loan default buzz

NEW DELHI: Shares of Piramal Enterprises were trading higher after the company on Sunday said it “strongly refutes baseless rumours” regarding loan defaults by real estate developers to its lending arms Piramal Capital & Housing Finance. The scrip gained as much as 4 per cent to Rs 1977.65 on BSE. In a regulatory filing, the …

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Share market update: Over 120 stocks touch 52-week lows on BSE

NEW DELHI: Over 120 stocks, including AU Small Finance Bank, Bharti Airtel, IndusInd Bank and IL&FS Transportation Networks, hit 52-week lows on BSE in an otherwise positive market on Monday. Blue Star, Cera Sanitaryware, Crompton Greaves Consumer Electricals, D B Corp, Edelweiss Financial Services, Grasim Industries, Indiabulls Real Estate, India Cements and Kajaria Ceramics also …

Share market update: Over 120 stocks touch 52-week lows on BSERead More »

Share market update: Pharma shares trade in green; Biocon surges 3%

NEW DELHI: The Nifty Pharma index was trading 0.19 per cent up at 9,668.3 around 11:32 am on Monday with most of its components trading in green. Shares of Biocon (up 2.47 per cent), Aurobindo Pharma (up 1.40 per cent), Cadila Healthcare (up 0.90 per cent) and Lupin (up 0.73 per cent), were the top …

Share market update: Pharma shares trade in green; Biocon surges 3%Read More »

Deals Buzz: Indiabulls Housing Finance to sell stake in OakNorth

Photo: Mint Indiabulls Housing Finance plans to sell all or part of its 18.7 per cent stake in UK-based OakNorth Holdings within a month to a private equity fund, The Economic Times reported. The deal, if it goes through, will help the company rake in over six times gain on investment in less than three …

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Will RBI’s sops ease the liquidity crunch at NBFCs?

Banks hold excess government securities as statutory liquidity ratio. As lending has been slow, banks have been parking excess funds in government securities. The Reserve Bank of India (RBI) on 19 October incentivized banks to lend to non-banking financial companies (NBFCs) and housing finance companies (HFCs) in a bid to unclog the lending freeze some …

Will RBI’s sops ease the liquidity crunch at NBFCs?Read More »

NSEL scam: Investors may get back some dues

1 NSEL scam: Investors may get back some dues Share market update: IT stocks trade in red;Infibeam Avenues plunges 8% Asian Paints Q2 results today; What to look for Share market update: Nifty Auto index trades flat; Ashok Leyland rises 2% 10 smallcaps from this sector rose 70% in 34 sessions; worth a look? Jet …

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Talking Stock: ONGC, CDSL are stocks to hold for the long term

G CHOKKALINGAMMD, Equinomics Research & Advisory I am holding 840 shares of CDSL at Rs 390 from July 2017 and 180 shares of Rain Industries at Rs 345. I am in a huge loss. Please advise on the future of these two stocks. —NEERAJ GUPTAPlease hold CDSL for the long term. It is engaged in …

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Share market update: IT stocks trade in red;Infibeam Avenues plunges 8%

NEW DELHI: IT shares were trading lower with the Nifty IT index trading 0.32 per cent down at 14,431.15 around 11:06 am on Monday. Shares of Infibeam Avenues (down 7.72 per cent), MindTree (down 2.88 per cent), Tech Mahindra (down 2.07 per cent) and Tata Elxsi (down 0.85 per cent) were the major laggards in …

Share market update: IT stocks trade in red;Infibeam Avenues plunges 8%Read More »

Asian Paints Q2 results today; What to look for

Shares of Asian Paints dropped into the red ahead of its financial results for the September quarter on Monday. The scrip was down 0.78 per cent at Rs 1,228.30 at around 9.40 am. The BSE Sensex was up 0.32 per cent at 34,426. There are expectations that demand improvement post GST rate reduction would lead …

Asian Paints Q2 results today; What to look forRead More »

Share market update: Nifty Auto index trades flat; Ashok Leyland rises 2%

NEW DELHI: The Nifty Auto index was trading flat at 8,697.9 around 10:50 am on Monday with most of its components trading in green. Shares of Ashok Leyland (up 2.13 per cent), Motherson Sumi Systems (up 1.93 per cent), Eicher Motors (up 1.93 per cent) and Exide Industries (up 1.63 per cent) were the top …

Share market update: Nifty Auto index trades flat; Ashok Leyland rises 2%Read More »

10 smallcaps from this sector rose 70% in 34 sessions; worth a look?

The last 34 sessions turned to be a disaster for the domestic equity market, as market capitalisation of the BSE-listed firms declined by nearly Rs 21 lakh crore till October 18. Smallcaps took a heavy beating, with the BSE Smallcap index falling 17 per cent between August 29 and October 17. The Sensex and BSE …

10 smallcaps from this sector rose 70% in 34 sessions; worth a look?Read More »

Jet Airways plunges 5% on staff layoffs, financial woes

NEW DELHI: Shares of India’s second-biggest airline Jet Airways plunged over 5 per cent in morning trade on Monday amid reports of the firm being in a financial soup. The private airline is trimming its workforce and operations further as it battles its worst financial crisis. As per a report published in ET, at least …

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Vijay Kedia, Madhusudan Kela buy into this SME company; stock rallies 18%

Innovators Facade Systems, listed on BSE SME platform, rallied over 18 per cent on Monday. The traction in the stock came after its shareholding pattern showed that well-known investors Madhusudan Kela and Vijay Kedia bought into the company in July-September. While Madhusudan Murlidhar Kela held 3.76 per cent stake, or 7,08,800 shares, in the company …

Vijay Kedia, Madhusudan Kela buy into this SME company; stock rallies 18%Read More »