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

The company was scheduled to announce Q4 earnings today. Shares of Reliance Capital fell more than 4 percent intraday on June 28 on the back of reports that the company will likely defer Q4 earnings. The company likely to defer Q4 earnings announcement, quoting sources, reported CNBC-TV18. The company was scheduled to announce Q4 earnings on June 28. At 1030 hrs, Reliance Capital was quoting at Rs 69.45, down Rs 1.25, or 1.77 percent on the BSE. For taking 2 days free trial and Stock Market Tips with more than 90% accuracy click here MCX Tips

The share price of Sobha was down over 4 percent intraday on Friday while Prestige Estates shed over 3 percent. Amid fears of acute water scarcity, reports are making rounds that the Karnataka government is considering a five-year ban on construction of multi-storeyed residential buildings. This has led to the fall of real estate stocks including Sobha and Prestige Estates. Deputy chief minister Dr. G Parameshwara on June 27 said that builders sell the apartments to families without assuring them of water availability, according to a report by PTI. Due to water scarcity, there were deliberations on banning the construction of apartments in Bengaluru for the next five years, Parameshwara said. The share price of Sobha was down over 4 percent intraday on June 28, while Prestige Estates shed over 3 percent. At 1145 hrs, Sobha was quoting Rs 521.40, down Rs 23.85, or 4.37 percent. It has touched an intraday high of Rs 526.50 and an intraday low of Rs 510.35.

It believes that the company is best positioned to ride out the cycle, given its strong positioning and balance sheet. Shares of Maruti Suzuki India rose 1 percent intraday Friday after brokerage house Citi maintained buy rating but cut target to Rs 7,400 from Rs 8,000 per share. Citi cut FY20/22 profit estimates by 12%/3%, and also cut volumes sharply for FY20, given the slow start to the year. Current slowdown, now in its 11 months, will probably be second longest slowdown. However, after the 12-18 month downturn, the probability of a 2-4 year upturn is much higher. It believes that the company is best positioned to ride out the cycle, given its strong positioning and balance sheet. At 12:18 hrs Maruti Suzuki India was quoting at Rs 6,524.10, up to Rs 36, or 0.55 percent on the BSE. A special offer this week. take 2 days  free trial in Stock Market Tips and MCX Tips

The bigger challenge is to bring down the cost of funds, which has gone up because NBFCs are not able to raise funds at low cost. This will be the key to reviving auto sector demand The Indian auto sector has been facing one of its worst periods in the last year. Year-on-year (YoY), the sales of automobiles has dropped by over 20 percent and the inventories are piling up. It is in this backdrop that the Union Budget 2019 is being presented. So, what exactly are the expectations from the Union Budget for the auto sector? The auto industry does not call it a reduction, but a rationalization. According to auto sector insiders, imposing 28 percent GST on automobiles literally puts it on par with sin goods like cigarettes and other items of luxury consumption. Actually, automobiles are neither! The first expectation is that the GST on automobiles should be reduced from 28 percent to a more rational level of 18 percent at a policy level. The auto industry believ

Experts who spoke to Moneycontrol don't expect a revival in the primary market unless liquidity coming back as normal. The first half of 2019 witnessed underperformance in not only the broader market but also in the primary market, even though benchmark indices recorded strong returns. Only six initial public offers came out in H1, of which, three came with an issue size of more than Rs 1,000 crore, while the remaining raised less than Rs 500 crore each. In comparison, 13 companies came out with IPOs in the corresponding period of 2018. The six IPOs raised about Rs 2,265 crore through the main board, whereas 3 IPOs were listed on the SME platform. The initial public offering of Polycab India and Neogen Chemicals received an overwhelming response, getting subscribed by 52 times and 41 times respectively while the other four - Metropolis Healthcare, Chalet Hotels, MSTC, and Rail Vikas Nigam saw subscription in the range of 1.5-6 times. Nonetheless, the perfo

The two-thirds of the stocks from derivatives segment saw decent selling pressure in June series, which does not bode well for the bulls. The June series started with a good amount of long positions and recorded a new all-time high of 12,103 in initial days of June expiry. But, the bulls failed to hold Nifty above 12,000 marks as we witnessed some selling pressure from higher levels. However, the index managed to sustain above the upper-end of the gap area, which was formed on the Exit Poll result day and showed some strength in the last week of the June series. The Nifty50 remained in a broader range of 480 points in June series and, eventually, concluded the month with marginal loss over its May series close. In the June series, we have not seen any significant activity on the open interest front. However, some of the long positions got carried forward to the July series as rollovers in Nifty stood at 80.35 percent, which is much higher than its quarterly averag

We expect to see Nifty50 fluctuating in the range of 11,620 to 11,860. The index is likely to test this range in the first half of July contracts while in the second half we may see some higher highs. The May election results and the polls prior to the announcement filled the public with hopes for a better market scenario, but the effect of the same seems to have faded. The markets had reached a high of around 12,000 on the day of the announcement of the results, but could not sustain this level for long. June witnessed an opening around 11,940 level, but the Nifty50 was able to touch the 12,000 marks for merely three days at the beginning of the month. This initial activity was again based on monetary rate cuts by the RBI, but the announcements did not seem enough to continue pumping blood into the markets. Even though the Nifty did not sustain the high this month, the index continued to find support at 11,620. This level has continued as the support level for the in

Fibonacci retracement is a method of technical analysis for determining support and resistance levels A Fibonacci retracement is a popular tool among technical traders and is based on some key numbers. The origins of the Fibonacci series can be traced back to the ancient Indian mathematic scripts, with some claims dating back to 200 BC. However – in the 12th century - Leonardo Pisano Bigollo, an Italian mathematician who was known to his friends as Fibonacci, discovered Fibonacci numbers. It is a popular tool that technical traders use to help identify price levels for transactions, stop losses or target prices. These retracement levels also provide support and resistance levels for a stock. However, it really becomes most effective when confirming signals or conditions identified by additional technical analysis tools. Fibonacci Retracement is a method of technical analysis for determining support and resistance levels. It is named after the use of the Fibonacci sequ

After failed negotiations earlier with multiple suitors, the SBI-led consortium decided to take Jet Airways to the bankruptcy court on June 17 and on June 20, the National Company Law Tribunal (NCLT) admitted the insolvency petition. A consortium of diversified conglomerate Hinduja Group & Etihad Airways is all set to join the race for Jet Airways and bid for the debt-ridden grounded carrier under the Insolvency and Bankruptcy Code (IBC), four independent sources with knowledge of the matter told Moneycontrol. The Tata Group is currently exploring the possibility of a potential bid but hasn't taken a final call yet. Qatar Airways is also in exploratory mode and may join the fray if it finds a suitable domestic partner, these sources added. Moneycontrol had reported earlier on June 28 that the employee consortium had joined hands with London-based AdiAgro Aviation to bid for 75 percent in the airline through the IBC process. AdiGro Aviation Founder Sanjay Viswa

Brent crude futures were down 39 cents, or 0.6%, at $66.16 per barrel by 0245 GMT. Oil prices eased on Friday in a cautious market, as traders eyed a scheduled meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the G20 summit and next week's OPEC meeting. Brent crude futures were down 39 cents, or 0.6%, at $66.16 per barrel by 0245 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 40 cents, or 0.7%, at $59.03 a barrel. The leaders of the G20 countries meet on Friday and Saturday in Osaka, Japan, but the most anticipated meeting is between Trump and Xi on Saturday. A trade dispute between the world's two biggest economies has weighed on oil prices, fanning fears that slowing economic growth could dent demand for the commodity. "While there are no expectations of a truce between the two parties, it will set the scene for the OPEC meeting a couple of days later," ANZ Bank said in a note. Trump s

The company was required to pay Rs 200 crore, but only paid Rs 50 crore and defaulted on Rs 150 crore Shares of Cox & Kings was locked at 10 percent lower circuit intraday on June 28 after the company defaulted on the payment of commercial papers due to cash flow mismatch. The share was trading at its new 52-week low of Rs 36.45. There were pending sell orders of 1,695,952 shares, with no buyers available. Out of the aggregate amount of Rs 200 crore of the unsecured commercial papers, the company paid Rs 50 crore and the balance amount of Rs 150 crore has not been paid. The company was required to pay Rs 200 crore, but only paid Rs 50 crore and defaulted on Rs 150 crore. "The company has been meeting its liability obligations. However, due to cash flow mismatch and a situation exacerbated by rating downgrade, the company proposes to meet its financial obligations through a combination of internal accruals and monetization of assets," the company

Mirabegron is indicated for the treatment of Overactive Bladder (GAB) with symptoms of urge urinary incontinence, urgency, and urinary frequency. The share price of Lupin rose more than 3 percent in the early trade on June 28 after the company received tentative approval for its Mirabegron Extended Release (ER) Tablets. The company has received tentative approval for its Mirabegron Extended Release (ER) Tablets, 25 mg, and 50 mg, from the United States Food and Drug Administration (FDA), to market a generic version of Myrbetriq Extended-Release Tablets, 25 mg and 50 mg, of Astellas Pharma Global Development Inc, company said in press release. Mirabegron is indicated for the treatment of Overactive Bladder (GAB) with symptoms of urge urinary incontinence, urgency, and urinary frequency. Mirabegron ER Tablets 25 mg and 50 mg had annual sales of approximately USD 1501.6 mn in the US, it added. At 09:38 hrs Lupin was quoting at Rs 778.00, up to Rs 14.50, or 1.90 p

The bank's shares have gained more than 53 percent over the past year. shares of Axis Bank gained over 2 percent intraday June 27 on a report of likely share sale by the company. The bank is likely to consider a $1.3 billion share sale, reported CNBC-TV18 quoting news agencies. At 14:05 hrs Axis Bank was quoting at Rs 794.00, up to Rs 5.05, or 0.64 percent. The share had touched a 52-week high of Rs 826.55 on June 6, 2019, and a 52-week low of Rs 499.05 and June 29, 2018. Currently, it is trading 3.94 percent below its 52-week high and 59.1 percent above its 52-week low. The bank's share price has gained more than 53 percent over the last year. For taking 2 days free trial and Stock Market Tips with more than 90% accuracy click here MCX Tips

Company's current portfolio consists of 157 products authorized for distribution in the US marketplace and 58 ANDA’s pending approval with the USFDA. Shares of Glenmark Pharma gained 2 percent in the early trade on July 28 after the company received USFDA approval for Ezetimibe and Simvastatin Tablets. Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Ezetimibe and Simvastatin Tablets, 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg, a generic version of Vytorin 1 Tablets, 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg, of MSD International GmbH, as per BSE release. Company's current portfolio consists of 157 products authorized for distribution in the US marketplace and 58 ANDA’s pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the gr

The share touched its 52-week high Rs 1,575.00 and 52-week low Rs 982.00 on 28 August 2018 and 26 October 2018, respectively. The share price of Jubilant Foodworks added 1.5 percent intraday June 27 as research house Citi has maintained buy call on the stock with a 14 percent upside. The research house kept a target of Rs 1,430 per share. It estimates 14%, 16% & 18% revenue, EBITDA & EPS CAGR in FY19-22, while price hikes could provide some support to the overall SSS from Q2FY20. At 12:26 hrs Jubilant Foodworks was quoting at Rs 1,263.00, up to Rs 13.80, or 1.10 percent on the BSE. The share touched its 52-week high Rs 1,575.00 and 52-week low Rs 982.00 on 28 August 2018 and 26 October 2018, respectively. Currently, it is trading 19.81 percent below its 52-week high and 28.62 percent above its 52-week low. A special offer this week. take 2 days  free trial in Stock Market Tips and MCX Tips