Stock Market

Prominent investors loaded up on Apple before share slump

The purchases may be leaving large investors, including Fidelity, JPMorgan and Tiger Global, with steep losses if Apple continues its more than 15% decline for November so far. Photo: Reuters New York: Several prominent investors put fresh money to work in Apple during the third quarter even as they sold out of other high-flying tech …

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Goldman Sachs CEO ‘personally outraged’ by 1MDB scandal

Goldman Sachs CEO David Solomon. Goldman Sachs is trying to counter arguments that fault lies beyond a few employees. Photo: Bloomberg New York/London: David Solomon had a message for Goldman Sachs Group Inc. employees shaken by the firm’s involvement in a multibillion 1MDB scandal: this isn’t us. “I am personally outraged that any employee of …

Goldman Sachs CEO ‘personally outraged’ by 1MDB scandalRead More »

Trade setup: Nifty50 is critically poised, needs to top 10,650 level

Indian stock market notched up decent gains on Thursday despite struggling with the pattern resistance area. The NSE benchmark Nifty saw a tepid start and got stronger as the session progressed. However, the 10,650 level again proved to be a crucial resistance area, as Nifty pared some of its gains in the second half of …

Trade setup: Nifty50 is critically poised, needs to top 10,650 levelRead More »

Banks could be recapitalised with govt bonds: S Gurumurthy

NEW DELHI: Indian banks could be recapitalised with government bonds, said an independent director on the central bank’s board on Thursday, at a time when the Reserve Bank of India and the government are at loggerheads on regulatory issues. S. Gurumurthy has been a vocal member on the RBI board asking for easier lending and …

Banks could be recapitalised with govt bonds: S GurumurthyRead More »

Sebi asks listed cos to disclose commodity risks in transparent, uniform manner

To benefit the shareholders and to bring clarity in disclosures, Sebi Thursday asked listed entities to disclose their risk management activities during the year, including their commodity hedging positions, in a more transparent and uniform manner. The move comes after the regulator’s board in March this year accepted this recommendation made by the Uday Kotak-led …

Sebi asks listed cos to disclose commodity risks in transparent, uniform mannerRead More »

ING sells Kotak Mahindra Bank shares worth Rs 1,440 crore

Dutch financial major ING on Thursday sold 1.27 crore shares in Kotak Mahindra Bank for a little over Rs 1,440 crore through an open market transaction. ING Mauritius Investments, the investment arm of the Dutch bank, held 3.73 per cent, or over 7.11 crore shares in the private lender at the end of September, data …

ING sells Kotak Mahindra Bank shares worth Rs 1,440 croreRead More »

Jet Airways shares soar on reports deal with Tata is close

BENGALURU: Shares of India’s Jet Airways Ltd had their best day since listing on Thursday following media reports that the debt-laden airline was nearing a deal with Indian conglomerate Tata Sons Ltd. Tata SIA Airlines, a joint venture between Tata Sons and Singapore Airlines that operates domestic carrier Vistara, is eyeing an all-stock merger with …

Jet Airways shares soar on reports deal with Tata is closeRead More »

US markets open lower as mixed retail results, growth stocks weigh

Photo: Bloomberg Bengaluru: US stocks opened lower on Thursday, with hopes of a trade negotiation between the United States and China being offset by mixed results from retailers and a slide in growth stocks including Facebook and Amazon.com Inc . The Dow Jones Industrial Average fell 19.02 points, or 0.08%, at the open to 25,061.48. …

US markets open lower as mixed retail results, growth stocks weighRead More »

ING sells Kotak Mahindra Bank shares worth ₹1,440 crore

Kotak Mahindra Bank shares settled at ₹1,161.15 on the NSE on Thursday, up 2.77% from the previous close. New Delhi: Dutch financial major ING on Thursday sold 1.27 crore shares in Kotak Mahindra Bank for a little over ₹1,440 crore through an open market transaction. ING Mauritius Investments, the investment arm of the Dutch bank, …

ING sells Kotak Mahindra Bank shares worth ₹1,440 croreRead More »

It’s a downhill road for copper as dollar, Fed hold all the aces

By Manoj Kumar JainBase metal prices fell in the last one week after strong US PPI (Producer Price Index) data and on fears of rising US interest rates in December. The US Federal reserve has already raised key interest rates thrice this year and there is fair chance of one more hike this December. The …

It’s a downhill road for copper as dollar, Fed hold all the acesRead More »

Bitcoin bulls wonder where is the bottom as volatility returns

By Todd White and Eric Lam Bitcoin advocates are asking how low will we go from here as the world’s largest cryptocurrency continued to slump following its biggest one-day loss in eight months. The digital token fell 3 percent to $5,386 as of 8:01 a.m. in New York, having plunged through a key resistance level …

Bitcoin bulls wonder where is the bottom as volatility returnsRead More »

NHPC board okays share buy-back at ₹28 apiece for ₹600 crore

On Wednesday, NHPC posted a 19.62% jump in its net profit at ₹1,218.51 crore in the September quarter. New Delhi: State-run hydro power giant NHPC’s board has approved buy-back of 21.42-crore equity shares at ₹28 apiece, aggregating ₹600 crore. The board approves the buy-back by the company of its fully paid-up equity shares of ₹10 …

NHPC board okays share buy-back at ₹28 apiece for ₹600 croreRead More »

After Market: Jet sees its best day ever; 13 stocks giving bullish signals

Domestic equity indices ended higher on Thursday on supportive global cues and a strengthening rupee. BSE Sensex closed 118.55 points, or 0.34 per cent, up at 35,260 while Nifty settled 40.40 points, or 0.38 per cent, up at 10,616. “After a subdued start, the market gained momentum supported by a strong rupee and positive Asian …

After Market: Jet sees its best day ever; 13 stocks giving bullish signalsRead More »

An evening walk down Dalal Street | Sensex ends over 100 points higher, Nifty above 10,600; Yes Bank down 7%

A strong rally in financials ensured a good close for the market on Thursday, with the Nifty ending above 10,600. A strengthening rupee also boosted sentiment on D-Street, while investors shrugged off weak sentiment coming in from lower crude oil prices. Interestingly, four out of five index gainers were from the financials space, with Kotak …

An evening walk down Dalal Street | Sensex ends over 100 points higher, Nifty above 10,600; Yes Bank down 7%Read More »

Tech view: Nifty50 forms small bullish candle, halted at 10,650

NEW DELHI: Nifty50 continued to face resistance around the 10,650 level on Thursday, but somehow managed to settle above the psychological mark of 10,600. The index formed a s mall bullish candle on the daily chart. Analysts say good follow-up buying can push the index above the resistance level in the near future. A breakout …

Tech view: Nifty50 forms small bullish candle, halted at 10,650Read More »

Market takes comfort from rupee surge, ends higher

NEW DELHI: Shares landed on a positive side on Thursday in an otherwise lacklustre session amid a firming rupee. Global leads too turned favourable. NSE barometer Nifty50 reclaimed the 10,600-mark to settle the day at 10,617, up 40 points, or 0.38 per cent. On the 50-share index, 29 stocks rose while 21 fell. Similarly, BSE …

Market takes comfort from rupee surge, ends higherRead More »

Global edible oil prices down 11-25% YoY on lower India demand: SEA

Pune: According to Solvent Extractors Association (SEA), reduced demand by India and depreciation of the rupee have led to fall in international prices of edible oils by 11% to 25% during past one year. During the oil year 2017-18 (Nov.- Oct.) import has increased in first quarter. However imports decreased in second and third quarter …

Global edible oil prices down 11-25% YoY on lower India demand: SEARead More »

Gold prices surge today, silver rates jump

Gold prices today jumped above Rs 32,000 per 10 grams. Photo: Reuters New Delhi: Snapping a two-day losing streak, gold prices rose sharply today on increased demand from local jewellers and higher global rates. Gold rates jumped Rs 350 to Rs 32,250 per 10 gram. Tracking gold, silver rates today too jumped Rs 450 to …

Gold prices surge today, silver rates jumpRead More »

F&O: Followup action missing in market; VIX improves a bit

By Chandan TapariaThe Nifty50 index failed to surpass the previous day’s high and consolidated for most part of the trading session on Thursday. It formed an Inside Bar pattern on the daily scale, which suggested that followup action was missing at higher levels, while every decline was being bought into. The index has been consolidating …

F&O: Followup action missing in market; VIX improves a bitRead More »

Centrum cuts target price for Cipla

Mumbai: Centrum broking has slashed the one year target price of Cipla from Rs 750 to Rs 680 due to less than expected results posted by the pharma company for September quarter. At the current market price of Rs 521 apeice, the broking house is still expecting an upside of 20%. The revenues of Cipla …

Centrum cuts target price for CiplaRead More »

Gold hallmarking likely to be made mandatory soon

A file photo of Food and Consumers Affairs Minister Ram Vilas Paswan. Photo: Mint New Delhi: The government is planning to soon make hallmarking mandatory for gold jewellery sold in the country, Food and Consumers Affairs Minister Ram Vilas Paswan said on Thursday. The hallmarking of gold, which is voluntary in nature at present, is …

Gold hallmarking likely to be made mandatory soonRead More »

Why Nabard chief thinks IL&FS crisis will not spread

NEW DELHI: The liquidity issue is not a systemic problem, but specific to a few NBFCs, Nabard Chairman Harsh Kumar Bhanwala said on Thursday. Speaking on the sidelines of the WSBI World Congress, he said his institution has some Rs 15,000 crore of exposure to NBFCs, which is not significant given its total loan book …

Why Nabard chief thinks IL&FS crisis will not spreadRead More »

Liquidity issue specific to a few NBFCs only: Nabard chief

NEW DELHI: The liquidity issue is not a systemic problem, but specific to a few NBFCs, Nabard Chairman Harsh Kumar Bhanwala said on Thursday. Speaking on the sidelines of the WSBI World Congress, he said his institution has some Rs 15,000 crore of exposure to NBFCs, which is not significant given its total loan book …

Liquidity issue specific to a few NBFCs only: Nabard chiefRead More »

S&P maintains IDBI Bank’s rating on credit watch with negative implications

Global rating agency S&P Thursday said it’s ‘BB’ long-term and ‘B’ short-term issuer credit ratings on state-run IDBI Bank continues to remain on credit watch with negative implications, due to uncertainty on the lender’s ability to meet capital requirements. The agency said the bank remains in breach of its regulatory capital requirements following a loss …

S&P maintains IDBI Bank’s rating on credit watch with negative implicationsRead More »

Analysts trim the price targets for Zee Entertainment after stake sale announcement

MUMBAI: Analysts are cutting the consensus price targets for Zee Entertainment shares after promoters of the company have announced to divest some of their stake in the company. According to Bloomberg data, the average one year target price of Zee Entertainment has fallen 7 per cent in the last one week with some of the …

Analysts trim the price targets for Zee Entertainment after stake sale announcementRead More »

Analysts trim the price targets for Zee Entertainment after stake sale announcement

MUMBAI: Analysts are cutting the consensus price targets for Zee Entertainment shares after promoters of the company have announced to divest some of their stake in the company. According to Bloomberg data, the average one year target price of Zee Entertainment has fallen 7 per cent in the last one week with some of the …

Analysts trim the price targets for Zee Entertainment after stake sale announcementRead More »

Citi says oil’s record plunge is a `Made in America’ phenomenon

By Dan Murtaugh American fingerprints are all over oil’s record losing streak that’s plunged prices into a bear market. The State Department’s zigzag on Iran sanctions, President Donald Trump’s tweets about OPEC supply, the demand-sapping trade war with China and the explosion of shale oil production are all key factors leading to the collapse in …

Citi says oil’s record plunge is a `Made in America’ phenomenonRead More »

Gold rises Rs 350 on high demand, positive global cues

NEW DELHI: Gold regained its sheen with prices climbing by Rs 350 to Rs 32,250 per 10 gram at the bullion market on increased buying by local jewellers coupled with a firming trend overseas. Silver too rose Rs 450 to Rs 37,900 per kg backed by increased offtake by industrial units. Traders said sentiment turned …

Gold rises Rs 350 on high demand, positive global cuesRead More »

Goldman says Wall Street banks’ exposure was behind oil rout

By Javier Blas, Jack Farchy and Catherine Ngai Wall Street’s been abuzz about — and confused by — Tuesday’s epic plunge in the oil market. Any number of theories are flying around. But analysts at Goldman Sachs Group think they’ve uncovered one of the actual main culprits: a rush by Wall Street banks to cover …

Goldman says Wall Street banks’ exposure was behind oil routRead More »

Ujjivan Financial climbs 10% on robust quarterly results

NEW DELHI: Shares of Ujjivan Financial Services Thursday surged nearly 10 per cent on bourses after the company reported a consolidated net profit of Rs 44.3 crore in the second quarter ended September 30. After a positive opening on BSE, shares of the company climbed 9.7 per cent to touch the day’s high of Rs …

Ujjivan Financial climbs 10% on robust quarterly resultsRead More »

Share market update: Private banks trade higher; Axis Bank rises nearly 3%

NEW DELHI: Most of the private banks were trading in the green with the Nifty Private Bank index up 0.78 per cent at 14,835.75 on Thursday. Shares of Axis Bank (up 2.80 per cent), Kotak Mahindra Bank (up 2.13 per cent), IDFC Bank (up 1.40 per cent) and ICICI Bank (up 1.12 per cent) clocked …

Share market update: Private banks trade higher; Axis Bank rises nearly 3%Read More »

View: Should RBI now take it nominees off bank boards?

It would be the right thing for the Reserve Bank of India (RBI) to withdraw its nominees from boards of public sector banks (PSBs), but wrong for it to make it conditional on anything. It has been reported that withdrawal of central bank nominees is contingent on the government persisting with its demand for RBI …

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China stocks rise on hopes for trade talks

SHANGHAI: China shares jumped on Thursday after Beijing delivered a written response to U.S. trade demands, raising hopes for new negotiations between the countries, and as financial and securities companies benefited from policy support for markets. At the close, the Shanghai Composite index was 1.4 percent higher at 2,668.17. The blue-chip CSI300 index rose 1.2 …

China stocks rise on hopes for trade talksRead More »

PC Jeweller shares crack over 10% post Q2 results

Shares of PC Jeweller cracked as much as 18 per cent in Thursday’s trade after the company on Wednesday reported a 37.76 per cent fall in standalone net profit at Rs 93.72 crore for the quarter ended September 2018.It had posted a net profit of Rs 150.59 crore in the same quarter last year.Net revenue …

PC Jeweller shares crack over 10% post Q2 resultsRead More »

Piramal Enterprises to raise up to Rs 500 crore through NCDs

Diversified group Piramal Enterprises plans to raise up to Rs 500 crore through issuance of non-convertible debentures (NCDs) on a private placement basis. At the meeting of administrative committee of the board of directors, the committee approved the issue of secured NCDs aggregating up to Rs 500 crore through private placement, Piramal Enterprises said in …

Piramal Enterprises to raise up to Rs 500 crore through NCDsRead More »

Gold Rate Today: Gold futures recover Rs 44 on fresh positions

1 Gold Rate Today: Gold futures recover Rs 44 on fresh positions 29% fall in 29 days! Crude’s tech charts signalling dark days ahead Commodity outlook: Oil has Rs 30,950 in sight to break free Sugar exports halt with decline in global prices, stronger Rupee Crude oil could drop below $50, warn analysts Gold prices …

Gold Rate Today: Gold futures recover Rs 44 on fresh positionsRead More »

29% fall in 29 days! Crude’s tech charts signalling dark days ahead

After rising nearly 25 per cent in the first 10 months of this calendar, all it took for crude oil to reverse almost all its gain was a mere 29 days. Price of the West Texas Intermediate has declined 29 per cent in last 29 days. It has fallen for 12 days in a row …

29% fall in 29 days! Crude’s tech charts signalling dark days aheadRead More »

Nikkei hit by selling in banks, Apple suppliers

TOKYO: Japan’s Nikkei fell on Thursday, with banking stocks sliding after disappointing earnings forecasts and losses in US financial shares. Selling in large market cap stocks such as SoftBank and Fanuc and underperformance in Apple suppliers also hurt the broader market. The Nikkei share average ended 0.2 per cent lower at 21,803.62. Analysts said investors …

Nikkei hit by selling in banks, Apple suppliersRead More »

Big-name investors favor US equities over rest of world

US equities will outshine their international counterparts over the coming year, despite slowing corporate profit growth and increased stock market volatility, several big-name investors said. Low unemployment, the continued benefits of the Republican-led corporate tax cuts, and concerns of a protracted economic slowdown in Europe should result in US equities remaining the best-performing world market, …

Big-name investors favor US equities over rest of worldRead More »

Share market update: BSE Oil & Gas index dips; Petronet LNG down 3%

NEW DELHI: OMCs were trading in the red with the S&P BSE Oil & Gas index down 0.33 per cent at 13,674.33 on Thursday.Shares of Petronet LNG (down 3.07 per cent), Bharat Petroleum Corporation (down 0.84 per cent) and Castrol India (down 0.60 per cent) were among the top losers in the index. Reliance Industries …

Share market update: BSE Oil & Gas index dips; Petronet LNG down 3%Read More »

India property bond sales stall as IL&FS fuels default worry

Coupons on real-estate bonds outstanding are 10.4% on average, Bloomberg data show. That compares with State Bank of India’s two-year deposit rate of 6.95%. Photo: Abhijit Bhatlekar/Mint Mumbai: Indian developer rupee bond sales have slumped to the lowest in almost four years as investors become more cautious about default risks after the shock from non-payments …

India property bond sales stall as IL&FS fuels default worryRead More »

29% fall in 29 days! Crude’s tech charts signalling darks days ahead

By Jayesh Khilnani After rising nearly 25 per cent in the first 10 months of this calendar, all it took for crude oil to reverse almost all its gain was a mere 29 days. Price of the West Texas Intermediate has declined 29 per cent in last 29 days. It has fallen for 12 days …

29% fall in 29 days! Crude’s tech charts signalling darks days aheadRead More »

This Mumbai-based value investor swears by moat, says selling is a tough call

Moat, or differentiated offering of a business, is the main draw for Sumeet Nagar to a stock. An IITian and a Wharton School MBA, Nagar has spent much of his investment career hunting for such moat, which he thinks can infuse real compounding power to an investment. All of 46, Nagar has struck gold in …

This Mumbai-based value investor swears by moat, says selling is a tough callRead More »

Share market update: Metal shares up; Welspun Corp jumps nearly 3%

NEW DELHI: Metal shares were trading in the green with the Nifty Metal index up 0.49 per cent at 3398.8 on Thursday. Shares of Welspun Corp (up 2.71 per cent), Jindal Steel & Power (up 2.44 per cent), Vedanta (up 1.18 per cent) and Steel Authority of India (SAIL) (up 1.09 per cent) were the …

Share market update: Metal shares up; Welspun Corp jumps nearly 3%Read More »

Share market update: Nifty Bank index rises; Axis Bank gains above 1%

NEW DELHI: The Nifty Bank index was trading 0.31 per cent up at 26,009.75 on Thursday with most of its components trading in the green. Shares of Axis Bank (up 1.53 per cent), Kotak Mahindra Bank (up 1.29 per cent), IDFC Bank (up 1.12 per cent) and IndusInd Bank (up 0.66 per cent) were trading …

Share market update: Nifty Bank index rises; Axis Bank gains above 1%Read More »

Share market update: Realty shares mixed; Indiabulls Real Estate slumps 4%

NEW DELHI: Realty shares were trading mixed with the Nifty Realty index trading 0.73 per cent up at 219.7 on Thursday.Shares of Oberoi Realty (up 2.84 per cent), Godrej Properties (up 2.66 per cent), Sunteck Realty (up 2.45 per cent) and DLF (up 2.21 per cent) were trading in the green. Indiabulls Real Estate (down …

Share market update: Realty shares mixed; Indiabulls Real Estate slumps 4%Read More »

Grasim Industries shares crack 7% post Q2 numbers

1 Grasim Industries shares crack 7% post Q2 numbers Top intraday trading ideas for afternoon trade for Thursday 15 November 2018 Share market update: Pharma shares trade mixed; Cadila Healthcare down 2% RBI’s excess reserve: What happens if it’s given to government? Buffett bids farewell to Walmart after 20 years as Amazon reigns Share market …

Grasim Industries shares crack 7% post Q2 numbersRead More »

GMR Infra’s Q2 net loss narrows to Rs 218.86 crore

1 GMR Infra’s Q2 net loss narrows to Rs 218.86 crore GMR Infra’s Q2 net loss narrows to Rs 218.86 crore Future Retail Q2 profit rises 14% to Rs 175 crore IDBI Bank Q2 loss widens to Rs 3,602 crore ITDC posts H1FY19 profit of Rs 16 crore Infibeam revenue jumps 48% QoQ to Rs …

GMR Infra’s Q2 net loss narrows to Rs 218.86 croreRead More »

Vodafone Idea shares tank 6% on massive Q2 loss

Shares of Vodafone Idea plunged over 6 per cent on Thursday after the telecom firm reported a consolidated loss of Rs 4,973 crore for the September quarter. This was the company’s maiden earnings announcement as a joint entity. Vodafone Idea also announced funds infusion of Rs 25,000 crore to help it take on cut-throat competition.The …

Vodafone Idea shares tank 6% on massive Q2 lossRead More »

Commodity outlook: Oil has Rs 30,950 in sight to break free

Gold and silver took on more weight on Thursday, backed by widespread demand for precious metals. Oil prices, however, hit a soft patch, weighed down by rising supply going into a market in which consumption is expected to slow. What are the clues commodities are likely to throw up today? We bring you some projections …

Commodity outlook: Oil has Rs 30,950 in sight to break freeRead More »