China's tough rhetoric leaves trade talks with US in limbo

We expect broader markets to outperform benchmarks, therefore one should accumulate quality midcap stocks for medium-term perspective. The Nifty50 crossed the 12,000-level for the first time ever during the previous week on political stability as the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) forms a government for the second consecutive term. On the weekly chart, the index has formed a strong bull candle with a higher high and higher low and a bullish gap between (11,407- 11,592) below its base signaling strength and positive bias. The key point to highlight in the current up move is that subsequent to a golden cross in the Nifty. The Nifty midcap and smallcap indices have also recorded a golden cross indicating a major shift in trend direction. In the technical parlance, when a medium-term moving average (50-days) crosses above the longer-term moving average (200-days) it is termed as a “Golden Cross”. Going ahead, we expect broader

Rajat Bose of rajatkbose.com recommends buying Bharat Electronics with stop loss below Rs 111.25 for the target of Rs 117.75, DLF with stop loss below Rs 191.75 for the target of Rs 199 and Siemens with stop loss below Rs 1285 for the target of Rs 1330. The market reversed all its previous day gains and ended F&O expiry session at record closing high on May 30, driven by index heavyweights HDFC Twins and Reliance Industries ahead of Modi 2.0 government formation and Q4 GDP data due later in the day. The BSE Sensex rallied 329.92 points to 39,831.97 while the Nifty 50 climbed 84.80 points to 11,945.90, forming a bullish candle on daily charts. The index gained 2.6 percent in May series. The broader markets also participated in the rally. The Nifty Midcap index gained 0.8 percent and Smallcap index rose 0.4 percent. According to the Pivot charts, the key support level is placed at 11,880.7, followed by 11,815.5. If the index starts moving upward, key resistance

Today, USD-INR pair is expected to quote in the range of 69.75 and 70.20, says Motilal Oswal. The Indian rupee gained in the early trade on Friday. It has opened higher by 11 paise at 69.76 per dollar versus Thursday's close 69.87. On May 30 the rupee continued its slide on the third consecutive day as it was close marginally lower at 69.87 on the back of strong dollar. The rupee is expected to open higher against the dollar on the back of Brent crude’s decline to a near-three-month low. Meanwhile, Trump announcement of tariffs on Mexican imports is expected to keep the rupee’s advance in check, said Motilal Oswal. Washington threatened to impose tariffs on imports from Mexico. Trump, in an announcement, reported that a 5% tariff would be levied on all goods from Mexico with effect from June 1 and tariffs would remain in place till Mexico takes effective action to alleviate the flow of migrants. Moreover, the announcement warned that tariffs would go up to 25%

The board recommended payment of a dividend of Rs 1.90 per equity share of the face value of Re 1 each for 2018-19. The share price of Berger Paints India rose more than 7 percent in the early trade on Friday after the company posted better numbers for the quarter ended March 2019. The company has reported a 4.91 percent jump in its consolidated net profit to Rs 111.43 crore in the quarter ended on March 2019 against Rs 106.21 crore in the same quarter last year. Its revenue from operations during the quarter was up 13.38 percent to Rs 1,472.09 crore as against Rs 1,298.27 crore. The total expenses were at Rs 1,304.62 crore, while total income stood at Rs 6,061.86 crore. The board recommended payment of a dividend of Rs 1.90 per equity share of the face value of Re 1 each for 2018-19. At 09:45 hrs Berger Paints India was quoting at Rs 322.60, up to Rs 22.20, or 7.39 percent on the BSE A special offer this week. take 2 days  free trial in Stock Market T

Its revenue was up 24.3 percent at Rs 1,854.2 crore versus Rs 1,492 crore. The share price of Alkem Laboratories rose more than 3 percent intraday on May 30 after the company reported better numbers for the quarter ended March 2019. The company's Q4FY19 consolidated net profit rose 149 percent at Rs 167.3 crore against Rs 67.1 crore in the same quarter last year. Its revenue was up 24.3 percent at Rs 1,854.2 crore versus Rs 1,492 crore. Operating profit or EBITDA was at Rs 235 crore against Rs 103 crore, while margin was up at 12.7% against 6.9%. At 14:50 hrs Alkem Laboratories was quoting at Rs 1,776.65, up to Rs 51.55, or 2.99 percent. The share touched its 52-week high Rs 2,265.00 and 52-week low Rs 1,674.00 on 10 September 2018 and 17 May 2019, respectively. Currently, it is trading 21.33 percent below its 52-week high and 6.45 percent above its 52-week low Get a 2 days free trial in Stock Market Tips and MCX Tips  

Tata Power will supply the energy to GUVNL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date. Shares of Tata Power rallied nearly 2 percent intraday on May 30 after the company bagged 100 MW solar project in Gujarat. The company in its exchange release said it received a contract from Gujarat Urja Vikas Nigam Limited to develop a 100 MW solar project in Raghavendra Solar Park of Gujarat. Tata Power will supply the energy to GUVNL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date. The project will be carried out by the company's subsidiary Tata Power Renewable Energy Limited and has to be commissioned within 15 months from the date of execution of the PPA. The bid for the project was announced earlier this year in March. At 1132 hrs, Tata Power was quoting Rs 69.90, up 1.9 percent on the BSE. A special offer this week. tak

Tata Power will supply the energy to GUVNL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date. Shares of Tata Power rallied nearly 2 percent intraday on May 30 after the company bagged 100 MW solar project in Gujarat. The company in its exchange release said it received a contract from Gujarat Urja Vikas Nigam Limited to develop a 100 MW solar project in Raghavendra Solar Park of Gujarat. Tata Power will supply the energy to GUVNL under a Power Purchase Agreement (PPA) valid for a period of 25 years from the scheduled commercial operation date. The project will be carried out by the company's subsidiary Tata Power Renewable Energy Limited and has to be commissioned within 15 months from the date of execution of the PPA. The bid for the project was announced earlier this year in March. At 1132 hrs, Tata Power was quoting Rs 69.90, up 1.9 percent on the BSE. A special offer this week. ta

The company is also planning to raise additional funds by the issuance of securities and instruments Shares of Tata Teleservices (Maharashtra) rallied more than 16 percent intraday on May 30 buoyed by its performance in the quarter ended March 2019. The company in its exchange reported a net profit of Rs 579.55 crore for the Jan-March quarter, compared to a loss of Rs 681.50 crore in the year-ago period. The telecom-hand of Tata Group said it has "reviewed the recoverable amount of its consumer mobile business (CMB) assets based on fair value less costs to sell, and recorded Rs 529.35 crore as partial reversal of impairment recorded during the previous year and disclosed the same as an exceptional item for the year ended March 31, 2019 and Rs 531.45 crore for the quarter ended March 31, 2019". The company is also planning to raise additional funds by the issuance of securities and instruments At 1209 hrs, Tata Teleservices was quoting Rs 3.69, up 16.

The share touched its 52-week high Rs 770 and 52-week low Rs 573.30 on 21 September 2018 and 01 October 2018, respectively. The share price of Vaibhav Global rose 4.5 percent intraday Thursday after company board approved buyback of equity shares. The company board has approved a proposal to buy back its own fully paid-up equity shares of the face value of Rs 10 from the equity shareholders of the company for a price not exceeding Rs 1,000 per equity share, aggregating up to Rs 72 crore. The share touched its 52-week high Rs 770 and 52-week low Rs 573.30 on 21 September 2018 and 01 October 2018, respectively. Currently, it is trading 2.61 percent below its 52-week high and 30.8 percent above its 52-week low. At 13:37 hrs Vaibhav Global was quoting at Rs 749.90, up to Rs 30.65, or 4.26 percent on the BSE. A special offer this week. take 2 days  free trial in Stock Market Tips and MCX Tips 

Jayant Manglik of Religare Broking said he reiterated consolidation view on Nifty and suggests maintaining 'buy on dips' approach. The market reversed all its previous day gains and ended F&O expiry session at record closing high on May 30, driven by index heavyweights HDFC Twins and Reliance Industries ahead of Modi 2.0 government formation and Q4 GDP data due later in the day. The BSE Sensex rallied 329.92 points to 39,831.97 while the Nifty 50 climbed 84.80 points to 11,945.90, forming a bullish candle on daily charts. The index gained 2.6 percent in May series. "A long bull candle was formed, that has almost engulfed the negative candles of the last couple of sessions. We observe consistent higher low formations and the Nifty is sustaining above the immediate supports of 11,850 levels. The opening upside gap of 20th May is still unfilled, eight sessions after its formation. This is a positive indication," Nagaraj Shetty – Senior Technical &am

The ICC Cricket World Cup starts from May 30. Unlike the damp green tops that normally greet batsmen in England, the pitches this time around seem to be soaking in the sunshine, promising many a run-fest. Marking the day, IIFL in a report has selected 11 stocks or the Dream Team portfolio for investors that could reap runs until the next general elections. “The mood is equally sanguine in the Indian markets, with the ‘Captain’, PM Modi, ardently padded up for his second innings. And so, we take a shot at selecting a team of world beater stocks, not only for the tournament but perhaps till the next elections or next World Cup,” IIFL said in the report. Below is the list of ‘players’ selected by IIFL that could make a winning combination for investors: OPENERS These are our high alpha generators, thumping the new ball in the power play on sentiments and once they get their eye in, capitalizing on early signs of a cyclical recovery. Larsen & Toubro: Thi

The survey was conducted in May 2019 among economists belonging to the industry, banking, and financial services sectors. The country's median GDP is forecast at 7.1 percent for FY20 and 7.2 percent for FY 21, according to a survey. The industry body FICCI's economic outlook survey said the minimum and maximum growth estimate stood at 6.8 percent and 7.3 percent, respectively, for 2019-20. The survey was conducted in May 2019 among economists belonging to the industry, banking, and financial services sectors. The median growth forecast for agriculture and allied activities was pegged at 3 percent for FY20, while industry and services sectors are expected to grow by 6.9 percent and 8 percent, respectively, during the year. The median growth forecast for IIP has been put at 4.4 percent for FY20, with a minimum and maximum range of 3.3 percent and 5.5 percent, respectively. Inflation is expected to remain moderate and the Wholesale Price Index (WPI) based inf

Jain Irrigation | Jet Airways | KNR Constructions | Coal India and IDBI Bank are stocks which are in the news today. Results on May 31: Encore Software, Lakshmi Overseas Industries, MVL, Nakoda, Nitco, Orchid Pharma, United Textiles ONGC Q4: Profit down 51 percent at Rs 4,044.6 crore versus Rs 8,262.7 crore; revenue down 3.4 percent at Rs 26,758.5 crore versus Rs 27,694 crore (QoQ). Coal India Q4: Profit at Rs 6,024.2 crore versus Rs 1,302.6 crore, revenue up 7.5 percent at Rs 28,546.3 crore versus Rs 26,547 crore (YoY). IDBI Bank Q4: Loss at Rs 4,918.4 crore versus loss of Rs 5,662.8 crore; NII up 75.7 percent at Rs 1,609 crore versus Rs 915.7 crore (YoY). Jain Irrigation Q4: Profit down 39.5 percent at Rs 56.1 crore versus Rs 92.7 crore; revenue down 6 percent at Rs 2,583.1 crore versus Rs 2,747.8 crore (YoY). KNR Constructions Q4: Profit up 15.6 percent at Rs 92.1 crore versus Rs 79.7 crore; revenue up 14.6 percent at Rs 715.7 crore versus Rs 624.4

Today, USD-INR pair is expected to quote in the range of 69.60 and 70.20, says Motilal Oswal. The Indian rupee opened higher by 11 paise at 69.72 per dollar on Thursday versus previous close 69.83. The local currency fell for the second straight day on May 29 as it lost 14 paise to end the session at 69.83 against the US dollar. The rupee was weighed down in yesterday’s session following broad strength in the dollar against its major crosses. Volatility for the currency could remain low ahead of important economic numbers that will be released tomorrow, said Motilal Oswal. GDP and fiscal number that will be released on the domestic front could set the tone for RBI meeting that is scheduled next week. The expectation is that the central bank could cut rates and a dovish stance could keep the rupee weighed down. Broadly, trade war concern is keeping most market participants on the edge. Today, USD-INR pair is expected to quote in the range of 69.60 and 70.20, it

Morgan Stanley prefers large corporate lenders (over PNB) where it sees much better risk-reward Public sector lender Punjab National Bank shares fell 3.7 percent intraday on May 29 after it reported a big loss in the quarter ended March 2019. Hence, global brokerage house Morgan Stanley retained underweight call on the stock with a target price of Rs 75, implying a 13 percent downside from current levels. The stock was quoting at Rs 83.70, down Rs 2.50, or 2.90 percent on the BSE, at 1119 hours IST. The brokerage said balance sheet is weak given CET-I ratio at just 6.2 percent. "Pre-provisioning operating profit (PPoP) is weak and any improvement will be gradual, it said, adding core PPoP is 14 percent below its estimate owing to lower margin/fees. Therefore, Morgan Stanley prefers large corporate lenders where it sees much better risk-reward. The March quarter loss at Rs 4,700 crore was led by higher provisions and weak PPP, against loss of Rs 13,417