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Showing posts from January, 2019

Budget 2019 : LTCG Tax, GST, Home Loans, farmer income scheme needs to be focus

Budget 2018 was the last full-fledged budget presented by the government led by Narendra Modi. Long Term Capital Gains (LTCG) tax on profit earned from the sale of equity shares listed on a recognized stock exchange in India. The LTCG tax was re-introduced after a time gap of 14 years. The provisions were closely followed since they impacted the majority of taxpayers of the country. The tax was levied at the rate of 10 per cent (plus applicable surcharge and cess) while providing relief from gains accrued up to January 31, 2018, i.e., a mechanism was derived wherein the stock price as on 31 January 2018 was considered as the deemed cost, provided it is beneficial to the taxpayer. Following are some of the illustrative points: Treatment of compulsorily convertible instruments – The current provisions do not provide clarity on the cost to be adopted for the purpose of computation of capital gains in case of instruments that are compulsorily converted into equity sh

Stocks in the news:ICICI Bank Top Performe,Nifty may open higher,Bharti Airtel,Dabur, Hero MotoCorp,

ICICI Bank Extends Gain After Q3 Asset Quality Improves , Sacks Chanda Kochhar Shares of ICICI Bank extended gains for the third day and rose as much as 2.3 per cent, to Rs 374.45. The stock was the best performer on Sensex and Nifty. The lender’s enquiry committee headed by former Supreme Court judge BN Srikrishna found Chanda Kochhar was in violation of bank’s code of conduct for conflict of interest. Bank will seek clawback of all bonuses paid to her from April 2009 until March 2018. ICICI Bank Futures Price  (Expiry: 31-01-2019)  : 366.20    18.00 (5.16%) Open Price 352.30 Prev. Close 348.20 Open interest 45663750 High Price 368.50 Turnover (₹ in Lakhs) 381664.00 Open Interest Change -13508000 Low Price 351.80 No. Of Contracts Traded 38361 Open Interest Change(%) 10.04% BSE live: Sensex up 200 points, Nifty near 10,700; ICICI Bank, Tata Steel shares rally The domestic stock markets --Sensex and Nifty-- opened higher tracking positive global cues on Thursday

Axis Bank profit jumps 131% to Rs 1,681 crore

MUMBAI: Axis Bank on Tuesday announced that it has posted the strongest profit numbers in 11 quarters with an all-around improvement in its key business metrics and asset quality. The bank’s net profit for the third quarter (October-December) more than doubled to Rs 1,681 crore year-on-year, and operating profit grew 43 per cent to hit Rs 5,525 crore. During the quarter, the bank’s domestic loans grew at 18 per cent on the year, and total deposits by 26 per cent. Axis Bank Q3: Profit surges to Rs 1,680.8 crore versus Rs 726 crore; NII rises 18.4 per cent to Rs 5,603.6 crore versus Rs 4731.5 crore YoY. Gross NPA improves to 5.75 per cent versus 5.94 per cent and net NPA to Rs 2.36 per cent versus 2.54 per cent QoQ. HCL Technologies Q3: Profit rises 2.8 percent to Rs 2,611 crore versus Rs 2,540 crore; revenue jumps 5.6 percent to Rs 15,699 crore versus Rs 14,861 crore QoQ. Revenue in constant currency also up 5.6 percent QoQ. Rupee Opens: The Indian rupee opened lower by

Stocks In Focus- Yes Bank, Bajaj Auto among top losers,Adani Port, HCL Tech, UltraTech Cement major gainers

Adani Ports , Adani Power Rebound After Falling Sharply In Yesterday's Session Shares of Adani Power and Adani Ports rebounded after witnessing heavy selling pressure in yesterday's session. Adani Ports rose as much as 4.60 per cent to Rs 341. Adani Power rose as much as 10 per cent to Rs 44. Market at pre-open : Indian indices are mixed in the pre-opening session with Nifty trading below 10,650 level. At 09:03 hrs IST, the Sensex is up 112.55 points or 0.32% at 35769.25, and the Nifty down 13.60 points at 10647. Tata Steel down 10 per cent and Ceat down 5 per cent in the pre-opening trade, while Zee Entertainment gained 3 per cent. Adani Port, HCL Tech, UltraTech Cement, are among major gainers on the indices, while losers are Bank of India, Yes Bank, Bajaj Finserv, M&M, Gail, Cipla, Dish TV, Zee Entertainment, Titan and Tata Power. Rupee opens lower per US dollar as global oil prices rise The rupee on Tuesday opened on a weak note against the US dol

Stocks to watch - Coffee Day, Escorts, Lupin, Zee , Adani Group Stocks Fall, Maruti Suzuki down

Coffee Day Enterprises said it would take required action in the next few days to get a portion of IT firm Mindtree shares -- owned by the company and its promoter VG Siddhartha -- released by the Income Tax Department.  Zee Entertainment Jumps Over 14%, Top Performer On Nifty Shares of Zee Entertainment rose as much as 14.8 per cent, its best intraday gain since May 2009, to Rs 365.40. The market capitalisation of Zee Group companies eroded nearly Rs 14,000 crore on Friday after a report said its controlling shareholder Essel Group’s name emerged in a probe linked to large deposits made after demonetisation. Trading Volume was 80.3 times its 30-day average, Bloomberg data showed. The Relative Strength Index was at 29, indicating that the stock may be oversold. The stock was the best performer on Nifty. Maruti Suzuki shares will assume focus after the firm reported results below street estimates on Friday.  Maruti Suzuki share price plunged by more than 8% to Rs 6,465, to

Republic Day 2019 : Celebrations begin as parade, flag hoisting & President Kovind awards Ashok Chakra,at Rajpath

As India celebrates its 70th Republic Day, stay logged in to catch the celebrations in New Delhi and other parts of India. Republic Day 2019 Parade: The Prime Minister Narendra Modi laid a floral wreath at the Amar Jawan Jyoti which was followed by the unfurling of the flag by President Ram Nath Kovind. Jan 26, 10:28 AM (IST) The Air Force Marching Contingent is now in front of the stage. The air warriors are marching with rifles in ‘Bagal shashtra’, while the pistols of the officers are being secured in their holsters.  Jan 26, 10:24 AM (IST)    The Naval Contingent is now passing from the front of the stage. The contingent comprises of 144 young sailors led by Lieutenant Commander Ambika Sudhakar as Contingent Commander.  Jan 26, 10:23 AM (IST)    Assam Rifles is leading the marching Contingents of Para-Military and other Auxiliary Civil Forces. It will be followed by the Indian Coast Guard, Central Reserve Police Force, Railway Protection Force, DEL

Yes Bank gets RBI approval & gains 10% on appointment of new CEO Ravneet Singh Gill

Shares of Yes Bank added 10 per cent in the early trade on Friday on the back of appointment of Ravneet Gill as new MD & CEO of the company. In the previous trading session, the share closed up 8.39 per cent at Rs 213.85. Yesterday, the bank announced the appointment of Ravneet Gill as MD and CEO w.e.f March 1, 2019. Currently, Gill is the CEO of Deutsche Bank, India. Rana Kapoor will step down as MD & CEO of the bank on the closing of January 31, 2019. Yes, Bank's net profit stood at Rs. 1,002 crores ($140.73 million) in the three-month period, according to the statement. Net profit for the corresponding period a year ago was at Rs. 1,077 crores. The bank's net profit fell short of analysts' estimates. Analysts had estimated the bank to report a profit of Rs. 1,060 crore for the quarter ended December 31, 2018, news agency Reuters ported citing data from Refinitiv. Yes, Bank shares closed 14.3 per cent higher at Rs. 225.50 apiece on the NSE, outper

Stock Picks: Biocon, IDBI Bank,From Wipro to Indiabulls Hsg, hot stocks to buy

Here Are The Stocks To Watch Out For In Today’s Trade  Moody’s upgraded IDBI Bank’s ratings across various instruments in view of significant capital infusion by LIC. The long-term local and foreign currency ratings have been upgraded by three notches to ‘Ba2’ from ‘B1’. Infosys partnered with HPE GreenLake for consumption- based IT models for smart infra investments. Bharat Financial Inclusion comp Bharat Financial Inclusion completed its sixth direct assignment worth Rs 832.3 crore to a public sector bank in the financial year 2019.  MEP Infra’s arm entered into a concession contract with NHAI for HAM project in Maharashtra for Rs 567.8 crore.  InterGlobe Aviation: InterGlobe Aviation, owner of India's biggest airline by market share IndiGo, said its third-quarter profit slumped 75 per cent to Rs 191 crore, dragged down by higher crude prices and intense competition. Earnings today: Nearly 75 companies including YES Bank, UltraTech Cement, Biocon, Re

After FB, Google constructs political advertisement database in India

Bengaluru : Google is introducing a searchable Political Ads Library in India along with a country-specific political advertising transparency report in an effort to bring more transparency to online election ads ahead of the Lok Sabha elections. The company said the political ad database, along with the report, will go live in March and will provide information on who is purchasing election ads on its platforms and how much money is being spent on these ads, among others.  Rival Facebook had introduced similar norms for political ads in the country in December last year and plans to launch a searchable election ad library next month.  Google will verify the identity and eligibility of advertisers before running their respective election ads on its platforms, with the advertiser verification process starting from February 14, 2019.  NEW DELHI: In a bid to promote “transparency” in online political advertisements ahead of the 2019 Lok Sabha elections, Google is intr

Interim Budget 2019: Here's all that you have to know

Finance Minister Arun Jaitley will unveil the interim budget for 2019-20 on 1 February 2019. The full-fledged Union Budget for the next fiscal will be presented by the new government. This will be the sixth consecutive budget to be presented by Jaitley. Know the Budget: Highlights Unlikely to be progressive for oil & gas sector as fiscal math frail The industry has been demanding that the government consider reducing the minimum alternate tax rate for E&P operations, which at about 20% of book profits is a significant deterrent for investment. Here's a wish list from the real estate sector While homebuyers want the government to create a stressed asset fund to deal with incomplete projects, developers are hoping that the government will bring stamp duty within the purview of GST. Focus on alleviating rural distress to benefit fertiliser sector ICRA expects the GoI to take several steps for enhancing farmer income like ensuring crop realisation, f

Share Market Update: Sensex up 80 points, Nifty Fluctuate In Open; L&T down 2%

Stock Market India Live Updates: The domestic stock markets –Sensex and Nifty–opened marginally higher on Monday, tracking positive global cues. The Sensex is up about 80 points to 36,467.18 while the Nifty is trading above the 10,900-mark. L&T shares plunged by more than 3.2% after the firm announced Saturday that Securities and Exchange Board of India (Sebi) has advised against proceeding with the proposed Rs 9,000 crore share buyback. RIL shares extended gains, zooming by more than 1.3% to Rs 1,198.60. L&T Worst Performer On Sensex, Nifty After SEBI Rejects Buyback Shares of the country’s largest construction company declined for the second day and fell as much as 3.4 per cent, the most since in over three months to Rs 1,273.45, its lowest levels since Oct. 31. The Securities and Exchange Board of India adviced L&T against Rs 9,000 crore buyback offer since the debt ratio after buyback would be more than twice capital & reserves. The company had pro

Share market updates: Sensex gains 100 pts at open;Nifty above 10,900, Reliance Industries, HUL shares gain

Opening Bell: Sensex, Nifty Trade Higher Indian equity benchmarks opened higher in today's trade. The S&P BSE Sensex Index rose as much as 0.41 per cent to 36,468.42 and the NSE Nifty 50 Index rose as much as 0.36 per cent to 10,929.25. The market breadth was tilted in favour of buyers. About 944 stocks advanced and 460 shares declined on the National Stock Exchange. All the sectoral gauges compiled by NSE advanced led b the NSE Nifty Pharma Index's 0.47 per cent gain. Zee Entertainment, Bharti Airtel, Indiabulls Housing, HDFC, Axis Bank, Bajaj Finance are trading higher, while HCL Tech, Bajaj Auto, Jet Airways, Mindtree, Infosys, BPCL have lost the most. Shares of Reliance Industries and Hindustan Unilever are trading higher ahead of third-quarter numbers. Rupee Opens: The Indian rupee opened higher at 71.15 per dollar on Thursday versus previous close 71.24. BSE Live: Sensex up 125 points, Nifty above 10,900; Reliance Industries, HUL shares gain T

Share market updates: Sensex up 50 points, Nifty back at 10,900; Sun Pharma, Jet Airways down up to 2%

Share market LIVE updates: The domestic stock markets –Sensex and Nifty–opened marginally higher tracking domestic and global cues. The Sensex is up about 46 points to 36,393.94, while the Nifty is trading above the 10,900-mark. Sun Pharma shares tanked by more than 1% to hit the day’s low at Rs 447.15, after whistleblower complaints emerged, according to media reports. Jet Airways shares slumped by more than 2% to Rs 287.50 on BSE, ahead of lenders’ meet to explore debt rejig plans. Rupee opens The Indian rupee opened at 71.06 per dollar on Wednesday versus 71.04 yesterday. Vedanta, Yes Bank, and Zee Entertainment, while Sun Pharma, Bharti Airtel, JSW Steel and Dr Reddy’s have lost the most.  BSE Live: IndusInd Bank share price gains nearly 2% after Q3 results Shares of India's major private sector lender IndusInd Bank surged in trade on Wednesday, recovering from one-month lows, after the firm reported Q3 results. IndusInd Bank shares gained nearly 2% to Rs 1

Share market updates: Sensex up 300 points, Nifty near 10,800; Yes Bank, Wipro among top gainers

Market Opens Equity benchmarks have begun higher on Tuesday morning, with the Nifty trading near 10,780. The Sensex is up 145.79 points or 0.41% at 35999.35, while the Nifty is higher by 47.20 points or 0.44% at 10784.80. The market breadth is positive as 265 shares advanced, against a decline of 70 shares, while 20 shares were unchanged. All sectoral indices traded in the green, with maximum gains seen among banks, energy, and IT names. The Nifty Midcap index is in tandem with benchmarks. Hero MotoCorp, Infosys, Wipro and Zee Entertainment are the top gainers, while HCL Tech, Bharti Airtel, and GAIL lost the most.  Rupee opens higher at 70.75 per US dollar; 10-year government bond yields rise The Indian rupee opened higher by 18 paise at 70.75 per US dollar on Tuesday, a day after the domestic currency closed about one-month low amid continued foreign fund outflows and weak domestic equity markets. On Monday, the domestic unit fell as much as 43 paise to close at 70.9

Share market updates: Sensex starts over 100 points lower;Nifty above 10,800;Infosys up 4%;DMart falls 7%

Market opens Equity benchmarks have begun the day on a lower note, with the Sensex shedding over 100 points. The Nifty is trading around 10,750. Barring IT, all other sectoral indices are trading in the red, with pain visible among banks, automobile, consumption and infrastructure sectors.  The Sensex is down 139.52 points or 0.39% at 35870.32, and the Nifty down 44.20 points or 0.41% at 10750.80. The market breadth is negative as 303 shares advanced, against a decline of 475 shares, while 45 shares were unchanged. Infosys, Sun Pharma, and HPCL are the top gainers, while Larsen & Toubro, Axis Bank, and HDFC have lost the most.  DMart falls Shares of Avenue Supermarts, the operator of DMart stores, have fallen on the back of weak results for the December quarter.  Infosys Top Performer on Sensex, Nifty After Raising Forecast, Buyback Announcement Shares of the software developer rose as much as 3.9 per cent, the most since Nov. 28, 2018, to Rs 710.20.Infosys hik

Share market updates: Sensex slips 50 points, Nifty Open Lower;Tata Motors up 1%,IndusInd Bank shares down

Mumbai: The BSE Sensex and NSE’s Nifty 50 are set to open higher on Thursday as investors await December-quarter earnings, with TCS reporting its results later today. Asian stocks traded lower, with sharp losses in Japan, halting the post-Christmas rally in global stocks, in absence of any concrete details on US-China trade talks. US futures declined along with shares in South Korea and Hong Kong. Oil prices fell by 1% on rising US supply. SGX Nifty futures traded 27 points up at 10,902.50, indicating a positive start for the Sensex and the Nifty 50. Rupee opens marginally higher against US dollar The Indian rupee strengthened marginally against the US dollar, tracking gains in Asian peers after minutes from the US Federal Reserve confirmed patience on rate hikes. At 9.10am, the currency was trading at 70.36 a dollar, up 0.15% from the previous close of 70.47. Tata Motors and NTPC are top gainers, while IndusInd Bank, Axis Bank, Bharti Infratel and HPCL lost the most.  

Share market updates: Sensex, Nifty set to open higher;Yes Bank,Jet Airways in focus

Market opens The market has begun the day on a strong note, with the Sensex jumping over 200 points up. The Sensex is up 210.98 points or 0.59% at 36191.91, and the Nifty up 54.10 points or 0.50% at 10856.30. The market breadth is positive as 330 shares advanced, against a decline of 109 shares, while 30 shares were unchanged. Banks, automobiles and pharmaceutical sectors are gaining the most, while the Nifty Midcap index is higher by half a per cent. Infosys, Tata Motors, and Bharti Airtel are the top gainers, while Tata Steel and Eicher Motors have lost the most.  Rupee edges higher against US dollar The Indian rupee strengthened marginally against the US dollar, tracking gains in Asian markets as increasing optimism the US and China will be able to defuse their trade war outweighed a worsening global growth outlook. At 9.10am, the rupee was trading at 70.13 a dollar, up 0.09% from the previous close of 70.20. Jet Airways falls 1% Shares of Jet Airways fell ov

Share market updates: Sensex rises 307 pts;Nifty above 10,750;Bandhan Bank falls 6%;BEML jumps 8%

Market opens It’s a flat start for the market on Tuesday morning, with the Nifty trading around 10,760. A brush of red is visible among the majority of the sector, while defensives such as IT and pharma are trading in the green. The Sensex is up 51.33 points or 0.14% at 35901.49, and the Nifty down 9.60 points or 0.09% at 10762.20. The market breadth is positive as 259 shares advanced, against a decline of 120 shares, while 32 shares were unchanged. ONGC, Sun Pharma, and Tata Motors are the top gainers, while M&M, Power Grid, and UltraTech Cement lost the most.  Rupee The rupee traded on a firm note against the US dollar, having risen to 71.56 in intra-day trade. The domestic unit on Friday closed at 71.90 against the greenback. Shares of Bandhan Bank ended higher for the fourth straight session, rising 7.5 per cent to Rs 573 on the BSE after the Kolkata-based private sector lender received prior approval from the Reserve Bank of India (RBI) to open new branches

Share market updates: Sensex jumps 300 points, Nifty regains 10,800;Titan shares rally

Mumbai: Indian benchmark indices BSE Sensex and NSE’s Nifty 50 are set to open higher on Monday, tracking positive cues in global markets, as December-quarter corporate earnings season begins this week. Japan’s Nikkei shot up 3.1%, helped in part by a pullback in the yen, while South Korea added 1.5%. Chinese stocks firmed after the country’s central bank announced an easing in policy.  Oil prices rose by over 1%, lifted by US-China trade talks, while supply cuts by major producers also supported the market. SGX Nifty Futures traded 103.50 points up at 10882, indicating a positive start for the Sensex and the Nifty 50. Titan shares rally 4% after robust jewellery sales growth Shares of jewellery-maker Titan rallied in trade on Monday morning, after the firm said that good growth momentum is seen across all its businesses in the seasonally strong third quarter. Titan shares gained by more than 3.8% to Rs 964 on BSE this morning.  Bandhan Bank Falls After Report Of

Share market updates:Sensex Gains Over 150 Points,Nifty reclaims 10700; Tata Motors up 2.5%

Mumbai : Indian benchmark indices BSE Sensex and NSE Nifty 50 advanced on Friday led by auto and metal stocks. Japan stocks slumped 4% on its first trading day of the year, leading Asian stocks lower, after weak economic data added to anxiety about global growth and Apple’s sales outlook cut sunk US stocks. Moreover, in India, investors turned cautious ahead of corporate earnings season beginning next week, with TCS and Infosys reporting December quarter results in the first round. Oil prices fell nearly 1% after the US showed signs of following Asia into an economic slowdown, although supply cuts by producer club OPEC kept declines in check. Money Market Update: Rupee Strengthens After Two-Day Fall The Indian rupee strengthened after a two-day fall. The home currency appreciated as much as 0.35 per cent to 69.93 against the greenback. Jet Airways shares down over 3% Jet Airways shares fell as much as 3.34% to Rs 238.60 per share after the Economic Times reported t

Share market updates: Sensex falls 100 points,Nifty near 10,750; BoB uo 3%,Dena, Vijaya Bank Slump On Merger Deal

Market opens Equities have begun the day on a flat note, with the Nifty trading below 10,800. The Sensex is up 28.52 points or 0.08% at 35920.04, while the Nifty is down 2.20 points or 0.02% at 10790.30. The market breadth is negative as 268 shares advanced, against a decline of 139 shares, while 31 shares were unchanged. Wipro, Sun Pharma, Coal India and Titan are the top gainers, while ONGC, TCS, and HPCL lost the most.  Rupee weakens for the 2nd day against the dollar The Indian rupee on Thursday weakened for a second session against the US dollar, tracking losses in its Asian peers amid mounting concern about the global outlook after Apple Inc. cut its revenue forecast. At 9.13am, the rupee was trading at 70.37 a dollar, down 0.22% from the previous close of 70.17. It opened at 70.17. The 10-year gilt yield was trading at 7.393% from its previous close of 7.355%. Dena, Vijaya Bank Fall; Bank Of Baroda Gain After Three-Way Merger Deal Shares of Dena Bank slumped

Share market updates: Sensex falls 200 points, Nifty open lower at 10,850;Eicher Motors down 5%

Share market LIVE: The benchmark equity indices – Sensex and Nifty – opened on a lower note Wednesday even as the domestic markets rallied yesterday. The S&P BSE Sensex Index declined 0.6% intraday to 36,035.78 and the NSE Nifty 50 Index fell 0.38 percent to trade near 10,850. IT stocks — Tech Mahindra (1.13%) and Wipro (1.09%) — are the major gainers today. Eicher Motors leads the index losers list with a loss of 5.63%. Coal India, TATA Motors, Jet Airways, NMDC, LIC Housing Finance, Power Grid, and Glenmark Pharma are among the major stocks that will remain in focus throughout the day. Bharti Airtel share price ended the session 2.7% higher to 312.55, while HDFC share price gained by more than 1.9% to Rs 2,008. Yes, Bank share price zoomed more than 2% to hit the day’s high at Rs 185.90. Eicher Motors Worst Performer On Nifty After December Sales Fall 13%. Shares of Eicher Motors fell as much as 5.8 per cent, the most in over two months, to Rs 21,860. The comp

Share market updates:Sensex falls over 100 points;Bharti Airtel up 1.5%

Share market LIVE updates: After opening the New Year marginally higher this morning, Sensex and Nifty turned negative in the morning trade tracking weak global cues. The 30-share Sensex is down about 70 points to 35,991.34 while the Nifty is trading below the 10,850-mark. Shares of Bharti Airtel gained by more than 1.4% to 317.50 on the NSE, while Axis Bank shares rallied more than 0.5% in the opening trade. Kotak Mahindra Bank shares will assume focus after the lender believes it is compliant with RBI’s promoter dilution communication. The RBI has not accepted the bank’s contention. Further, since the matter is sub judice, the bank cannot offer any comments in this regard. Lupin shares will also assume focus after the firm received USFDA nod for Clobazam Oral Suspension.  RUPEE OPENS The Indian rupee gained in the early trade on the first day of 2019. It opened higher by 15 paise at 69.62 per dollar against previous close 69.77. UCO Bank shares jump 16% on recapitalisat