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Showing posts from May, 2019

Stock Market News - Oil Marketers Rally, Jet Airways Falls

Oil Marketers Rally -  On Falling Crude Prices Shares of the oil marketing companies rallied after the Brent crude fell for the third consecutive trading session and declined 1.3 percent to $66 per barrel.

Jet Airways Falls -  After Executive Exits Halts Results Approval Shares of the cash-strapped airline declined as much as 2.9 percent to Rs 146.65. The company said it is not in a position to consider and approve March quarter results on account of the ongoing bidding process undertaken by lenders and resignation of multiple board members.
Coal India At Over Six-Month High - Shares of Coal India rose as much as 3.9 percent to Rs 151.95, its highest level in over six months.
Bharti Airtel, HDFC Bank, JSW Steel, Coal India, HPCL, Berger Paints, IndiGo and Tata Steel are some of the major gainers on the indices in the early trade, while losers are ONGC, HUL, Kotak Mahindra Bank and All the sectoral indices are trading higher led by metal, pharma, bank, IT, auto, FMCG, pharma, and infra.
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Stock Market News- Bharti Airtel gains, SJVN gains 6%.

Bharti Airtel gains over 1% - SingTel completes subscription of 17 cr shares in the rights issue of a company worth Rs 3,740 crore. Bajaj Auto, Powergrid shares have emerged among the biggest gainers, jumping up to 1.5%.

SJVN gains 6% on strong Q4 nos - Profit jumps to Rs 458.9 crore versus Rs 132.2 crore; revenue spikes to Rs 805.2 crore versus Rs 344.8 crore (YoY).
Rupee opening - Rupee opens stronger at 69.72/$ vs Wednesday's close of 69.83 against the US dollar
Aban Offshore gains almost 5% on fundraising plan - Board approves raising up to $400 million overseas and raising up to Rs 2,500 crore via QIP.
Crude Update: Oil prices climbed on Thursday after an industry report showed a decline in US crude inventories that exceeded analyst expectations.
Top gainers in the Sensex pack include NTPC, Coal India, Bharti Airtel, Bajaj Auto, TCS, Asian Paints, PowerGrid, Tata Motors, RIL, and ITC, rising up to 2 percent.
On the other hand, M&M, Vedanta, ONGC, Sun Pharma, HDFC, Maruti, Tata…

Stock Market News - Sun Pharma Gains, SpiceJet Falls

Sun Pharma Gains-  After Q4 Results Shares of the country’s largest drugmaker snapped its two-day fall and rose 2 percent to Rs 420.95 apiece. The company reported its March quarter earnings on Tuesday.


SpiceJet Falls -  The Most In Over A Month Shares of SpiceJet fell as much as 7.1 percent, the most since April 22, to Rs 138.30.
Galaxy Surfactants Jumps - On Heavy Volumes Shares of the specialty chemicals manufacturer extended gains for the third consecutive trading session. The stock rose as much as 11 percent, the most in over three months, to Rs 1,215.65.
Rupee Opens: The Indian rupee opened lower at 69.75 per dollar on Wednesday versus previous close 69.69.
Gold Update: Gold held steady on Wednesday as worries about the global economic outlook kept investors focused on safe-haven assets, with no signs of an easing in the Sino-US trade-war.
Zee Entertainment, Vedanta, Bharti Airtel, ICICI Bank, SBI and UltraTech Cement are among major losers on the Indices in the opening trade, while…

Stock Market News - Adani port gains 3%, Music Broadcast Jumps

Adani Ports gains 3% -  Shares of Adani Ports and Special Economic Zone gained 3.6 percent in the early trade on May 28 after the company posted strong numbers for the quarter ended March 2019.
Yes Bank, Gail India, Adani Port, Zee Entertainment, Coal India, Asian Paints, SBI and Kotak Mahindra Bank are some of the major gainers in the early trade, while losers are Emami, HPCL and IOC. Among sectors, FMCG and PSU bank index is under pressure, while buying seen in the metal, auto, infra, and pharma.
Rupee Opens: The Indian rupee slipped in the early trade on Tuesday. It has opened lower by 15 paise at 69.65 per dollar on Tuesday versus previous close 69.50.
Music Broadcast Jumps -  On Acquisition Plans Shares of the Radio City FM channel operator in India rose as much as 6.2 percent to Rs 62.50. The company board approved the acquisition of the entire stake of Reliance Broadcast Network (Big FM) for Rs 1,050 crore, according to its stock exchange filing. 
Shares of Manpasand Beverages - h…

Stock Market News - Lupin slips 5% ,Manpasand sinks, NTPC gains

Lupin slips 5%  - Lupin shares slipped 5 percent to Rs 722 in early morning trade on the BSE after the US health regulator classified the inspection of the company's Goa facility as Official Action Indicated (OAI). The stock was trading close to its 52-week low of Rs 720, touched on March 28, 2019, in intra-day deal. 
Manpasand Beverages Hits Lower Circuit Of 20%-  Shares of the beverage manufacturer hit the lower circuit of 20% at Rs 88.10. The Central GST and Customs office arrested Managing Director Abhishek Singh, his brother Harshvardhan Singh and the company's Chief Financial Officer Paresh Thakkar after conducting an investigation, according to a statement by the agency.
NTPC, Yes Bank, HDFC, Britannia, Sun Pharma, are among major gainers on the indices, while losers are JSW Steel, Manpasand Beverages, Jet Airways, BPCL, Zee Entertainment, Grasim, Kotak Mahindra Bank, Tech Mahindra, RIL, Adani Port, Bajaj Finserv and IndusInd Bank. Among sectors, auto, energy, and pharma…

Stock Market News - PSU banks rally 3-13%, SBI hits record high

PSU banks rallied between 3 percent and 13 percent intraday but as the market cooled off from its high, some profit booking was seen in these stocksPSU banks are prominent gainers on May 23 when the counting of votes for Lok Sabha elections indicated that BJP is set to form government again. Hence, market experts believe that Monetary Policy Committee may cut repo rate in forthcoming policy meeting scheduled on June 3-6, which is the key reason for the rally in PSU banks. Nilesh Shah, MD at Kotak Mahindra Mutual Fund told CNBC-TV18 that definitely RBI will talk of about inflation and growth trajectory. And, since, now inflation is under its target, growth will be in focus, he added. Also, there is a hope that NPA concern may be coming to end soon and the government may continue to support PSU banks. PSU banks rallied between 3 percent and 13 percent intraday but as the market cooled off from its high, some profit booking was seen in these stocks. Nifty PSU Bank index climbed nearly 8 perc…

Stock Market News - Sebi sets rules for start-ups on IGP to migrate to main platform

The Securities and Exchange Board of India (Sebi) on Monday came out with a discussion paper highlighting proposals for allowing a start-up listed on the Innovators Growth Platform (IGP) to trade under the regular category of the main board.
According to the proposals, the company should have listed on the IGP for a year and have a minimum of 200 shareholders for making the shift. The company, or any of its promoters, promoter group or directors, should not have been debarred from accessing the capital market or been a willful defaulter.
Minimum promoters’ contribution should be 20 per cent of the total capital. In case of a shortfall, alternative investment funds, foreign venture capital investors, scheduled commercial banks, public financial institutions or insurance companies can step in, subject to a maximum of 10 per cent of the total capital. This capital shall be locked in for three years from the date on which trading approval on the main board is granted, and any excess over an…

Market Update- Tata Chemicals Rises, Petronet LNG Falls, Bajaj Finance Gain

Tata Chemicals Rises-  On Business Rejig Shares of Tata Chemicals rose as much as 5.2 percent to Rs 585.45. The Tata Group will bring its consumer businesses under one unit as the salt-to-software conglomerate continues restructuring to streamline its operations. Tata Chemicals will demerge its food business to Tata Global Beverages.
Petronet LNG Falls  - After Q4 Results Announcement Shares of Petronet LNG extended declines for the second consecutive trading session and fell as much as 3.6 percent, the most in over three months, to Rs 225 after the company announced its March quarter results.
Bajaj Finance Extends Gain  - Ahead Of Results Announcement Shares of Bajaj Finance extended gains for the second consecutive trading session and rose as much as 1.7 percent to Rs 3,053.70 ahead of results announcement.
Titan Hits Record High  -  Shares of Titan extended gains for the eighth consecutive trading session, their longest gaining streak in two months. The stock rose as much as 1 percent…

Market Update - Welspun Corp Falls,Jet Airways Decline, Yes Bank low

Welspun Corp Falls - After Buyback Approval Shares of the pipe maker fell for the third straight trading session and declined as much as 6.8 percent to Rs 127. The company’s board approved buyback of its shares at a price of Rs 140 apiece, aggregating of up to Rs 390 crore. The buyback was at a premium of 7.6 percent to the previous close.

Centre To Divest 15% Stake In RITES The Government of India plans to divest 15 percent stake in RITES Ltd. Shares of RITES fell as much as 2.8 percent to Rs 235.05.
Jet Airways Extends Decline -  After CEO Resigns Shares of Jet Airways declined for the third consecutive trading session and fell as much as 6.9 percent to Rs 120. The company’s Chief Executive Officer Vinay Dube resigned, hours after his deputy and Chief Financial Officer Amit Agarwal quit.
Yes, Bank Near Six-Month Low - Shares of Yes Bank fell as much as 4.8 percent to Rs 148.30, the lowest since Nov. 29, 2018. The Reserve Bank of India appointed R Gandhi, a former deputy governor of the…

Market Update - Jet Airways Drops, Vodafone Idea falls over 4%

Jet Airways Drops - After Top Executive Resigns Shares of the cash-strapped airline declined as much as 13 percent to Rs 121. The company’s Deputy Chief Executive Officer and CFO Amit Agarwal stepped down. Yes, Bank shares are trading 1.5% lower at Rs 152.45, while Zee Entertainment shares are down 1.6% to Rs 336.60 to emerge among the biggest Nifty losers. 
Vodafone Idea falls over 4% - India's largest telecom operator, on Monday, reported a consolidated loss of Rs 4,881.9 crore for the quarter ended March 31, amid a brutal tariff war in India's telecom market. 
Engineers India Gains -  After Signing Pact Shares of Engineers India rose as much as 1.5 percent to Rs 105.25 Engineers India Gains After Signing Pact Shares of Engineers India rose as much as 1.5 percent to Rs 105.25. The company signed a contract with Mangol Refinery for providing its PMC Services for the construction of Crude Oil Refinery plant in Mongolia.
Rupee Opens: The Indian rupee marginally added in the early …

Market Update - L&T Falls, Tata Steel, Kotak Mahindra among top losers

Tata Steel, Kotak Mahindra among top losers - SBI shares are up 1.8% to Rs 313.50, while ONGC shares are trading 0.6% higher at Rs 167.80 to emerge among the biggest Sensex gainers. Tata Steel shares are down 2% to Rs 478.80, while Kotak Mahindra shares are down by 0.5%.  L&T Falls - Shares of Larsen & Toubro fell as much as 1.2 percent to Rs 1,338.85 after the company announced its March quarter results on Friday. 
Tata Steel, Hindalco, Eicher Motors, Dr. Reddy's Lab Grasim Industries and Indiabulls Housing are among major losers on the indices, while gainers are TCS, SBI, Wipro, HCL Tech and Tech Mahindra. Except for FMCG and IT, all other sectoral indices are trading in the red.
Rupee Opens: The Indian rupee slipped in the early trade on Monday. It opened lower by 23 paise at 70.14 per dollar versus previous close 69.91 yesterday.
SRF Swings - On Unit Sale Plans Shares of the industrial chemicals maker fluctuated between gains and losses to trade little changed at Rs 2,444…

Market Update- HCL Tech top losers, RIL, Yes Bank gains

HCL Tech top losers - Nifty Shares of HCL Technologies fell as much as 4.2 percent, the most in over five months, to Rs 1,088. The stock was the worst performer on Sensex and Nifty after announcing its March quarter results. The U.S. Raises Tariffs To 25% On About $200 Billion Of Chinese Goods Trump administration increased tariffs on some $200 billion in Chinese goods to 25 percent from 10 percent.
RIL, Yes Bank among top gainers - Reliance Industries shares are trading 2% higher after the Mukesh Ambani-led firm’s subsidiary picked up British toy-maker Hamley’s. Yes, Bank shares are trading 2% higher at Rs 173 on BSE. 
Zee Entertainment, ICICI Bank, Yes Bank, RIL, SBI, Tata Steel, TCS are among major gainers on the indices, while losers are Asian Paints, Voltas, IOC, Wipro, HCL Tech, Infosys, Mahanagar Gas, and Berger Paints. On the sectoral front, IT and FMCG are trading marginally lower, while metal, pharma, auto, and bank are witnessing buying interest.
Rupee Opens: The Indian rupee …

Market Update - RIL, Yes Bank top down, Titan Gains

Yes, Bank shares tanked by nearly 2%  - to Rs 155, to emerge among the biggest Sensex losers.  Reliance Industries share price tanked by more than 1.5% to Rs 1,280.15 after global firm Morgan Stanley downgraded the stock to Equalweight.  Vodafone Idea Swings - After Founders, Pledge Shares Shares of the telecom operator fluctuated between gains and losses to trade 0.7 percent higher at Rs 14.40. Shareholders of Vodafone Promoter Mauritius and Vodafone Promoter Indian pledged about 44.39 percent stake, the company said in a filing. Vodafone Group owns the stake through 12 entities based in India and Mauritius. The stake is valued at close to Rs 18,304 crore. 
Yes Bank, Adani Ports, BPCL, UPL, Grasim, Gail, Cipla, HDFC, Power Grid, and RIL are trading lower, while on the other hand Hindalco, Britannia, Wipro, IOC, Coal India, and Hero Motocorp are among major gainers. Among sectors, except metal, all other sectors are trading lower.
Rupee Opens: The Indian rupee opened lower at 69.88 per …

Market Update - Vedanta Slip 4%, Vakrangee down 1%,

Vedanta Slip 4% - At Over Two Month, Low Shares of the mining conglomerate declined 4.1 percent intraday to Rs 156.80, its lowest since February 2019. The company announced its March quarter results on Tuesday. Net profit for the January-March period was at Rs 2,615 crore, 46 percent lower on a yearly basis. Vedanta, Asian Paints, HDFC Bank, Tata Motors, SBI, RIL are among major losers on the indices, while gainers include Zee Entertainment, Gail, IndusInd Bank, and Ceat. All sectoral indices are trading in red led by metal, FMCG, auto, bank, energy, pharma and IT.
Rupee Opens: The Indian rupee opened lower at 69.55 per dollar on Wednesday versus Tuesday's close 69.43.
Vodafone Idea Slumps - To Record Low Shares of the country’s largest telecom operator slumped 5.7 percent intraday to Rs 14.70 apiece, its lowest on record since its listing in 2007.
Vakrangee down over 1% - The company had announced an alliance with Dish TV.

Neogen Jumps Over 16% - On Stock Market Debut Neogen Chemical…

Market Update - Marico Surges 8% , ICICI Bank in Focus, CG Power falls 8%

Marico Surges 8% - On Q4 Results Shares of the world’s largest coconut oil maker rose over 8 percent intraday, its biggest single-day gain in nearly four years, to Rs 367 apiece. The company reported its fourth-quarter earnings on Monday.  HDFC Bank touches 52-week high -  The share price rose 1.5 percent in the early trade on May 7 as the company is going to consider sub-division of its equity shares.
ICICI Bank in Focus - India’s largest private bank ICICI Bank, on Monday, reported a profit of Rs 969.06 crore as against the profit of Rs 1,020 crore in the corresponding quarter of the previous financial year. Its profit fell 5% on the back of higher provisions and increased expenditure.  Total income for the quarter rose to Rs 20,913.82 crore from Rs 19,942.97 crore in the same quarter of last year.
Bharti Airtel At Seven Month High -  After Q4 Results Shares of the Sunil Mittal-led telecom operator rose 2.2 percent intraday to Rs 340.85, its highest since September 2018. The company re…

Market News- Tata Motors, Yes Bank top losers, Bharti Airtel Falls

Tata Motors falls - shares are trading 3.6% lower at Rs 202, while Yes Bank shares are down nearly 3% to emerge among the biggest Sensex gainers.  HDFC Bank, SBI, Maruti Suzuki, RIL, Titan, Yes Bank, Tata Steel, Vedanta, Tata Motors, Hindalco, Infosys, Indiabulls Housing, HUL  are among major losers on the indices, on the other hand, gainers are BPCL, Power Grid, Asian Paints and Eicher Motors. All the sectoral indices are trading red led by metal, IT, infra, bank, auto, pharma, and FMCG.
Rupee Opens: The Indian rupee opened lower by 7 paise at 69.29 per dollar on Monday versus Friday's close 69.22.
HUL Falls - After Q4 Results Announcement Shares of the FMCG company fell as much as 1.9 percent to Rs 1,661.20. India’s largest consumer goods’ net profit rose 13.8 percent year-on-year to Rs 1,538 crore in the January-March period, according to its exchange filing. 
Bharti Airtel Falls  - Ahead Of Q4 Results Shares of the telecom operator fell as much as 1.5 percent to Rs 326.50 ahead o…

Market Update - Kotak Mahindra Bank Hits, Yes Bank top gainers ,HDFC Life Falls

Kotak Mahindra Bank Hits Record High-  Shares of Kotak Mahindra Bank extended gains for the fourth consecutive trading session to hit an all-time high. The stock rose as much as 1.3 percent in today’s trade. Yes, Bank top gainers - Yes, Bank share price jumped by more than 1.4% to Rs 176.25, while Bharti Airtel shares are trading 1.4% higher at Rs 329.30 to emerge among the biggest Sensex gainers.
Yes Bank, IOC, Sun Pharma, Bharti Infratel, Coal India, HDFC, Bombay Dyeing, Suntech Realty, NFL, Orient Papers, Tata Power are among major gainers, while losers are Laurus Lab, Jet Airways, L&T Infotech, TCS and Infosys. Among sectors, except IT and FMCG, all other indices are trading in green.
Rupee Opens: - The Indian rupee opened marginally lower at 69.39 per dollar versus yesterday's close 69.35.
HCL Tech Falls 2.5% -  The NSE Nifty IT Index fell for the second consecutive trading session, led by the declines in HCL Technologies Ltd. and Tata Consultancy Services Ltd. Shares of the…

Market Update -Maruti Suzuki,TVS Motor Falls; Indian Hotels Co up

Maruti Suzuki Falls-  After April Sales Decline Shares of Maruti Suzuki fell as much as 2.1 percent to Rs 6,525. The company sold 1.43 lakh units last month, a decline of 17.2 percent from the year-ago period, India’s largest carmaker said in an exchange filing. Suzuki shares are trading 1.4% lower at Rs 6,567.15.
While IndusInd Bank shares are down by nearly 1% to Rs 1,593, to emerge among the biggest Sensex gainers.
TVS Motor Falls -  The Most In Over Six Months After Q4 Results Announcement Shares of TVS Motor Company Ltd. fell as much as 8.2 percent, the most since Sept. 28, 2018, to Rs 452.

Yes Bank, Eicher Motors, Jet Airways, IndusInd Bank, Tata Steel, Hindalco, Vedanta, TVS Motor, Maruti Suzuki, HPCL, BPCL are among major lower in the early trade, while gainers are ONGC, IOC, JSW Steel, Britannia HDFC Bank, and ITC. Expect Infra and FMCG, all other sectoral indices are trading in red led by auto, IT, metal and pharma.
Rupee Opens: The Indian rupee opened lower at 69.61 per dolla…