Shares of Coffee Day Enterprises shed another 20 percent to hit 52-week low in the early trade on July 31 after Cafe Coffee Day founder VG Siddhartha body was found near the Netravathi river in Mangaluru.
Wednesday, 31 July 2019
JSPL Has Successfully Executed The First Ever Rail Order To Indian Railways
Shares of Coffee Day Enterprises shed another 20 percent to hit 52-week low in the early trade on July 31 after Cafe Coffee Day founder VG Siddhartha body was found near the Netravathi river in Mangaluru.
It Is A Weak Start For The Market On July 31 With Nifty Trading
The Sensex is down 208.10 points at 37,189.14, while Nifty is down 65.60 points at 11,019.80. About 227 shares have advanced, 614 shares declined, and 21 shares are unchanged.
Axis Bank, Tech Mahindra, Coffee Day Enterprises, JSW Steel, PNB Housing, Eicher Motors, IOC, Gammon Infra, Suzlon, are among major losers on the indices, while gainers are Gujarat Gas, Dish TV and UPL.
Wall Street Lost Ground On Tuesday After A Warning From President Donald Trump
Asian shares weakened in early trade on Wednesday, rattled by fresh trade war concerns following threats from President Donald Trump to Beijing, while increasing worries about a no-deal Brexit kept the pound under pressure.
Tuesday, 30 July 2019
Axis Bank May See 2-Fold Increase In Q1 Profit, Double Digit Growth In Loan Book
Most brokerages expect more than two-fold increase in its Q1FY20 profit on lower provisioning and stable operational income YoY. They also expect double-digit growth in NII and the loan book, compared to year-ago, with stable asset quality.
"Traction in advances is seen improving 15 percent YoY led by a focus on high yielding retail and MSME loans.
Shares Of Bharti Airtel Added Nearly 4 Percent On July 30 After Research House
Share price of Strides Pharma Science rose 10 percent on July 30 after company reported profit in the June quarter results and entered in to joint venture with a Chinese firm.
Shares of Coffee Day Enterprises shed 20 percent in the early trade on July 30 after Cafe Coffee Day founder VG Siddhartha was reported missing since the night of July 29.
The Sensex Is Up 136.02 Points Or 0.36% At 37822.39, And The Nifty Up 44.70 Points
Strides Pharma, Shalby, Zee Entertainment, Tata Motors, ICICI Bank, UPL, JSW Steel Bajaj Finserv, Bharti Airtel, Adani Ports, L&T and Eicher Motors, are some of the major gainers on the indices in the early trade, while losers are Dr Reddy's Lab, Indiabulls Housing, SPARC and Sanofi India.
Among sectors, except IT all other indices are trading marginally higher led by auto, metal, pharma, infra and FMCG.
Monday, 29 July 2019
Maruti Suzuki India Limited, The Leader In Passenger Vehicle Segment
Weaker demand outlook has led to significant decline in the stock price, making the valuations reasonable. We advise investors to accumulate this strong business during this soft patch.
In Q1 FY20, MSIL posted a significant volume decline of 17.9 percent on a year-on-year basis, primarily due to weak demand, especially from rural areas. The subdued sentiment is on the back of multiple challenges such as increase in total cost of ownership due to mandatory long-term insurance, implementation of safety regulations and non-availability of retail finance.
Asian Shares Got Off To A Cautious Start On Monday As Markets Count Down
Robust earnings from Alphabet and Starbucks pushed the S&P 500 and Nasdaq indexes to record highs on Friday, with support from data showing US economic growth slowed less than expected in the second quarter.
Trends on SGX Nifty indicate a flat opening for the broader indices in India, a fall of 11 points or 0.10 percent. Nifty futures were trading around 11,317.50-level on the Singaporean Exchange.
It Is A Flat Start For The Benchmark Indices On July 29 Amid Mixed Global
The Sensex is up 43.38 points or 0.11% at 37926.17, and the Nifty up 6.40 points or 0.06% at 11290.70. About 346 shares have advanced, 242 shares declined, and 56 shares are unchanged.
ICICI Bank, Axis Bank, Bajaj Finance, TCS, HCL Tech are some of major gainers on the indices, while losers are Vedanta, Escorts, Bajaj Auto, Indiabulls Housing, Eicher Motors, Hero Motocorp, JSW Steel, Tata Motors, Kotak Mahindra Bank, Zee, NTPC and HDFC Bank.
Friday, 26 July 2019
The Benchmark Indices Ended On Positive Note On July 26
At close, the Sensex was up 51.81 points at 37,882.79, while Nifty was up 32.10 points at 11,284.30. About 1296 shares have advanced, 1173 shares declined, and 161 shares are unchanged.
Yes Bank, Bajaj Finance, Bajaj Finserv, Eicher Motors and Hero Motocorp were among major gainers on the Nifty, while losers were Vedanta, IOC, HDFC, Tech Mahindra and Reliance Industries.
Maruti Suzuki India's June Quarter Standalone Profit Fell Sharply By 27.3 Percent
Revenue during the quarter degrew by 12.2 percent to Rs 19,719.8 crore compared to year-ago, with 18 percent YoY fall in sales volumes. The company sold 4.01 lakh units in June quarter.
Other income increased to Rs 836.4 crore in Q1, against Rs 271.8 crore in year-ago period.
Wednesday, 24 July 2019
SBI Life Insurance Company Shares Crossed Rs 800 Level For The First Time
Citi has buy call on the stock and raised price target to Rs 1,000 from Rs 850 as annualised premium equivalent growth was at 41 percent YoY and VNB margin was healthy.
"Operational trends remained strong. SBI Life has enough headroom to grow its protection business. Company's continued focus on protection should drive VNB margins higher," the brokerage said, adding it factored in higher APE growth of 27 percent in FY20 versus 18 percent earlier.
Shares of HDFC Life Insurance Company rallied nearly 5 percent intraday
Shares of JK Paper rose 2 percent on July 24 after company reported consolidated Q1 net profit jumped to Rs 127.11 crore versus Rs 95.19 crore, while revenue fell to Rs 713.06 crore versus Rs 795.01 crore, YoY.
Benchmark Indices Are Trading Flat With Positive Bias In The Early Trade
The Sensex is up 75.48 points or 0.20% at 38058.22, and the Nifty up 18.80 points or 0.17% at 11349.80.
Torrent Pharma, Zee Entertainment, L&T, HUL, Yes Bank, UPL, ONGC, Bajaj Finserv, Coal India, Tata Steel are some of the major gainers on the indices in the early trade, while losers are Maruti Suzuki, Cipla, BPCL, ICICI Bank, Dr Reedy's Lab and M&M Financial.
Tuesday, 23 July 2019
Expectations Of Policy Easing By Major Central Banks Such As The Federal Reserve
Trends on SGX Nifty indicate a positive opening for the broader indices in India, a gain of 16.50 points or 0.15 percent. Nifty futures were trading around 11,355-level on the Singaporean Exchange.
The Sensex Is Up 28.17 Points At 38,059.30, While Nifty Is Up 10 Points At 11,356.20
Eicher Motors, Hero Motocorp, Axis Bank, Asian Paints, Titan, Cipla, Voltas, Bosch and Bharti Airtel are among major gainers on the indices in the early trade, while losers are Yes Bank, DHFL, Zee Entertainment, HDFC, HDFC Bank, Indiabulls Housing, IOC, Tech Mahindra, IOC and Bajaj Auto.
Except auto and metal all other sectoral indices are trading with marginal gains led by IT, pharma, FMCG and infra.
Monday, 22 July 2019
Lupin’s Nagpur Facility Wins ENR Global Best Project Award
Shares of Dabur India gained nearly 2 percent intraday as global brokerages remained bullish on the stock, citing strong earnings growth though management commentary was cautious about demand outlook ahead.
It Is A Weak Start For The Market On Monday With Nifty Falls Below
The Sensex is down 197.95 points or 0.52% at 38139.06, and the Nifty down 56.50 points or 0.49% at 11362.80.
Vedanta, RIL, Tata Motors, Maruti Suzuki, ONGC, Tata Steel, Eicher Motors are among major gainers on the indices, while on the other hand losers are HDFC Bank, Bajaj Finance, Cipla, Adani Port, Titan, ICICI Bank, Bajaj Auto, Bajaj Finserv, Amara Raja, Interglobe Aviation, ICICI Lombard and Future Lifestyle.
Wall Street’s Main Indexes Fell On Friday Following A Report
Trends on SGX Nifty indicate a negative opening for the broader indices in India, a fall of 36 points or 0.31 percent. Nifty futures were trading around 11,393.50-level on the Singaporean Exchange.
Asia stocks eased on Monday as investors reduced expectations of an aggressive interest rate cut by the Federal Reserve, while heightened Middle East tensions following an Iranian seizure of a British tanker lifted crude oil prices.
Friday, 19 July 2019
Benchmark Indices Started Off Trade On A Positive Note With The Sensex Rising 106.09 Points
Net profit in quarter ended June 2019 grew by 39.5 percent to Rs 455.7 crore and revenue increased 7.8 percent to Rs 4,149.8 crore compared to year-ago period.
"Indian markets are expected to open in the green on the back of positive global cues. Going ahead, key monitorable for the markets include earnings traction and global news flows," ICICI Direct said.
Reliance Industries, India's Largest Company By Market Capitalisation
The refining & petrochemical volumes, and Jio & retail businesses are expected to be strong and will drive revenue growth on a sequential basis for the company.
However, there could be some pressure on consolidated margin from Jio & petchem segments, which may impact profitability a bit in Q1 but standalone operating income is likely to see sequential increase on higher refining margin, crude throughput and petchem volumes, brokerages feel.
Asian Stocks Gained And The Dollar Sagged After A Top Federal Reserve
Japan's Nikkei, China's Shanghai Composite, Hong Kong's Hang Seng and South Korea's were trading 1-1.7 percent higher.
New York Fed President John Williams said on Thursday that policymakers need to add stimulus early to deal with too-low inflation when interest rates are near zero and cannot wait for economic disaster to unfold.
Thursday, 18 July 2019
Wipro Remains A Perennial 'Tactical Trade' In The Sector As The Excitement Generated
Wipro's relatively inferior positioning to keep growth prospects under check notwithstanding recent interventions, the brokerage said.
Emkay moderated its FY20/21 EPS estimates by 1/3 percent to around Rs 16/17. "Assume coverage with a sell rating and target price of Rs 240, based on 14x FY21E P/E."
Emkay moderated its FY20/21 EPS estimates by 1/3 percent to around Rs 16/17. "Assume coverage with a sell rating and target price of Rs 240, based on 14x FY21E P/E."
L&T Said L&T Hydrocarbon Engineering Has Been Awarded Another Mega Project
The project scope for oil facilities for the Marjan Incremental Development Project consists of four tie-in platforms, one tie platform module, nine production deck modules, 217 kilometers of subsea pipelines across 25 segments, and 145 kilometers of subsea cables across 16 segments.
It also includes the replacement of existing control gears at eight existing SA Offshore platforms and tie-in to existing systems, it added.
Benchmark Indices Opened Lower With The Sensex Falling 81.89 Points
The International Monetary Fund on July 17 said that the US dollar was overvalued by 6 percent to 12 percent, based on near-term economic fundamentals, while the euro, Japan's yen and China's yuan were seen as broadly in line with fundamentals.
The IMF has been at odds with US President Donald Trump over his use of tariffs to resolve trade imbalances, but its assessment that the dollar is overvalued is likely to give Trump more fodder for his frequent complaints that dollar strength is hampering US exports.
Wednesday, 17 July 2019
KNR Constructions Shares Rallied 4 Percent Intraday After Company Received
Company in its BSE filing on July 16 said it has received a work order for Rs 847.34 crore from Navayuga Engineering Company Limited, Hyderabad.
The order is on back to back basis for the balance work of 'Palamuru Rangareddy Lift Irrigation Scheme - Package 10 for the formation of Venkatadri Reservoir bund at Vattem, Bijinepally, Nagarkurnool District.
DCB Bank Shares Plunged 14 Percent Intraday After Lender Reported Dismal
Profit during the quarter grew by 17 percent to Rs 81.1 crore and net interest income increased 11.7 percent to Rs 304.8 crore compared to year-ago period.
A CNBC-TV18 poll estimates for profit were Rs 93.7 crore and net interest income Rs 313.6 crore for the quarter.
Fall in credit growth, elevated provisions and weak asset quality with rising slippages hit earnings in June quarter.
Shares Of Suzlon Energy Wiped Off As Much As 9 Percent Intraday
According to Suzlon's exchange disclosures, the outstanding payment was part of a total bond issuance of $546.91 million.
The stressed wind turbine maker added that it is working on a holistic solution for its debt and continues to be in discussions with various stakeholders in relation to its outstanding debt.
Tuesday, 16 July 2019
Cipla Gains On Setting Up Joint Venture In China
The joint venture company will manufacture respiratory products in China.
As per the agreement, the JV will become a subsidiary of Cipla. Cipla's wholly-owned subsidiary Cipla EU will hold 80 percent stake and Acebright will retain the balance for a combined investment of $30 million.
Mahindra And Mahindra Shares Fell 2 Percent Intraday After Global Brokerage
The investment firm also slashed its target price to Rs 590 from Rs 690 per share.
Shares of Tinplate Company of India and Tata Metaliks fell nearly 7 percent intraday after weak set of June quarter earnings reported by both companies.
Vakrangee Shares Rallied 5 Percent Intraday After Company Decided
The company will set up the charging infrastructure facility through its Nextgen Vakrangee Kendra outlets.
Vakrangee has 3,504 Nextgen Vakrangee Kendra's spread across 19 states, 366 districts and 2,186 postal codes. More than 68% outlets are from Tier 5 and tier 6 cities.
Monday, 15 July 2019
Dewan Housing Finance Corporation Shares Were Locked At 10 Percent Lower
There were pending sell orders of 6,49,477 shares, with no buyers available on the BSE. The stock had lost nearly 90 percent of its value in the last one year.
Software services provider Infosys' June quarter profit fell 6.8 percent sequentially but raised its full-year constant currency revenue guidance to 8.5-10 percent on strong start to FY20.
For more information ✆ +91- 6232578593 or visit www.moneymarketmanthan.com
Shares Of Public Sector Lender Allahabad Bank Crashed 14.5 Percent Intraday
It was the second lender after Punjab National Bank to report fraud in Bhushan Power.
"It has been observed that the company has misappropriated bank funds, manipulated books of accounts to raise funds from consortium lender banks," Allahabad Bank said.
Sun Pharmaceutical Industries Shares Rallied 4 Percent Intraday
The brokerage upgraded stock to overweight and raised price target to Rs 505 from Rs 470 per share, implying 24 percent potential upside as it expects revival in earnings FY21 onwards.
Specialty ramp-up, manufacturing rationalisation, cost control and Halol will help FY21 margin, Morgan Stanley said, adding FY20 will be a transitional year followed by year of cost normalisation.
Friday, 12 July 2019
Mahindra & Mahindra to Announce Q1 Earnings Next Month
Housing Development Finance Corporation shares gained a percent intraday after CLSA raised price target of its top pick.
"We maintain buy call and raised price target to Rs 2,730 from Rs 2,500, implying 20.7 percent potential upside after analysing Annual Report of the company," CLSA said, adding the company is capitalising on affordable housing opportunity.
NTPC Shares Gained More Than A Percent Intraday After Global Brokerage CLSA
"SJVN acquisition if happens is value-accretive M&A & better energy mix with renewables," the research firm said, adding acquisition would help NTPC triple its hydro capacity & double the share of renewables.
SJVN could double hydro capacity with its pipeline of 2.7 GW of regulated hydro assets, said CLSA which like NTPC's merger & acquisition strategy that is focused on acquiring operating regulated assets.
Kotak Institutional Equities Maintained Buy Call On ICICI Bank
"Business is back on track to deliver normalised levels of return on equities by FY20-21," the brokerage said, adding there’s negligible risk in the corporate portfolio.
Thursday, 11 July 2019
Shares Of Optical Fiber Cable Manufacturer Himachal Futuristic Communications
Its profit in June quarter increased 148 percent year-on-year to Rs 117 crore driven by strong revenue mix and operating performance.
Revenue grew by 23 percent to Rs 1,343 crore in quarter ended June 2019, against Rs 1,088 crore reported in same period last year.
Aurobindo Pharma Shares Gained Nearly 4 Percent After Company Launches Sensipar
"We expect to see a gradual improvement as GDP growth numbers have bottomed out. Crude oil at $75 a barrel is a risk for India," Bharat Iyer of JPMorgan said in an interview to CNBC-TV18,
The brokerage is neutral on IT sector as growth is stable but valuations are expensive while it is underweight on pharma sector.
Asian Markets Are Trading In The Green As Federal Reserve's Jerome Powell
Japan's Nikkei and China's Shanghai Composite gained 0.3 percent each while Hong Kong's Hang Seng and South Korea's Kospi rallied over a percent each.
Religare Enterprises said it would divest entire stake in RFL, a subsidiary, to TCG Advisory Services.
Wednesday, 10 July 2019
IndiGo Crashes 17% As Rift Between Promoters Reaches SEBI
"Mission, direction & growth strategy remains unchanged & firmly in place. It is very important that we remain focussed on running a high-performance airline," he said.
The Market Turned Volatile As It Is Looking For Firm Direction
The BSE Sensex was down 22.81 points at 38,708.01 and the Nifty50 fell 2 points to 11,553.90.
"Long-term prospects of Indian market remain intact," said Vikas Khemani, Founder at Carnelian Capital Advisors LLP in an interview to CNBC-TV18.
He said would not buy Titan now, better to wait & watch and would see a shift from over-owned stocks to under-owned stocks.
Tuesday, 9 July 2019
Tata Motors Shares Dipped Over A Percent Intraday After Global Brokerage
"We have a sell rating on Tata Motors with a target price at Rs 150, implying 3 percent downside from current levels," the research firm said, adding rising warranty & impairment are concerns.
Glenmark Pharmaceuticals Shares Rallied 3.6 Percent Intraday
The US Food and Drug Administration granted its approval for Ranolazine extended-release tablets, which will be available in 500 mg and 1,000 mg strengths.
Ranolazine is a generic version of Ranexa extended-release tablets of Gilead Sciences, Inc. The drug improves blood flow to help the heart work more efficiently.
Today's Market Gainers and Losers
IOC bucked the trend, rising 3.7 percent. BPCL, Coal India, Yes Bank and ONGC were other gainers.
The BSE Sensex slipped 189.05 points to 38,531.52 and the Nifty50 declined 61.50 points to 11,497.10. About two shares declined for every share rising on the BSE.
Monday, 8 July 2019
Jindal Steel & Power In Its BSE Filing Said The Company Recorded Steel & Related Products
"The quarterly steel & related products production & sales saw a robust 17 percent and 16 percent growth respectively during Q1 FY20 on a year-on-year basis.
The quarterly production and sales of steel & related products stood at 1.35 MT and 1.30 MT respectively in Q1FY19," it added.
Maruti Suzuki India Is In Talks With Banks To Nudge Them To Ease Their Strict Lending
The move by the Suzuki Motor Corp. unit underscores a squeeze on dealer cash flow with passenger vehicle sales staying muted for several months while banks have cut financing for dealers due to worries whether the loans would be repaid.
Bad loans have risen in the auto sector as weak retail sales have forced the closure of several dealerships. This has led major banks such as the State Bank of India, HDFC Bank and others to tighten credit norms for automobile dealers.
Benchmark Indices Fell Sharply In Opening Tick In Morning After Budget 2019
Nifty Midcap was down 200 points. Mindtree, Biocon, Yes Bank, Jain Irrigation, PC Jeweller, Suzlon Energy, Motherson Sumi, Adani Enterprises and Apollo Tyres fell 2-6 percent.
Friday, 5 July 2019
Budget 2019: PSU Banks Trade Mixed Despite Expectation Of Recapitalisation
Central Bank of India, Indian Bank, State Bank of India and Syndicate Bank are trading in the green while Bank of Baroda, Punjab National Bank, Bank of India and Union Bank of India are trading in the red.
From the private banking space, the top gainers are IndusInd Bank, Kotak Mahindra Bank and HDFC Bank while YES Bank is down over 3 percent.
Finance Minister Nirmala Sitharaman is scheduled to present her maiden Budget on July 5. Among other expectations, analysts are estimating a Rs 35,000-40,000 crore Budget allocation towards bank recapitalisation.
Sobha Shares Gained Nearly 3 Percent Intraday On July 5
The Bangalore-based real estate company reported steady pre-sales of Rs 660 crore, up 8 percent YoY and down 7.1 percent QoQ. For Q1FY20, volume came in at around 1.06 million square feet, up 10.8 percent YoY and down 5.8 percent QoQ.
Average realization declined by 2.5 percent YoY and 1.4 percent QoQ, led by the change in product mix.
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Trends On SGX Nifty Indicate A Positive Opening For The Broader Index In India
Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 31.5 points gain or 0.25 percent. The Nifty future...
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