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

The inspection was held from May 27, 2019, to June 04, 2019, where the company had received 4 observations (483s). Shares of Indoco Remedies surged nearly 20 percent intraday on July 26 as the company received EIR from USFDA. The company has received the establishment inspection report (EIR) from the US Food and Drug Administration (USFDA) for their sterile facility (Plant II) and solid dosages facility (Plant III) at Verna, Goa, as per the company's BSE release. The inspection was held from May 27, 2019, to June 04, 2019, where the company had received 4 observations under Form 483 The company has 33 ANDAs pending for approval, out of which, 17 are for ophthalmics, 5 are for injectables and 11 are for solid dosages from the site, it added. Aditi Kare Panandikar, Managing Director - Indoco Remedies said, "We are happy to receive the EIR in less than two months from the date of inspection. This is encouraging, as the site has been endorsed with the Val...

CLSA factored in volume growth for the rest of FY20 as the base is turning benign. Shares of Tata Motors rebounded nearly 3 percent intraday on July 26 after hitting a fresh nine-year low in early trade after a disappointing show in June quarter (Q1). Global brokerage houses are mixed in their opinion with CLSA cutting price target on the stock. The scrip touched an intraday low of Rs 138.15, the lowest level since February 2010, but rebounded to day's high of Rs 148.25 which could be due to the positive commentary by the management. At 1031 hours, Tata Motors was quoting at Rs 147.90, up 2.46 percent on the BSE. CLSA has a sell call on the stock and slashed price target to Rs 120 from Rs 140 per share after cutting FY20-21 EPS estimates by 9-31 percent as the company reported worst pre-exceptional loss-before tax in a decade. Also Read: Tata Motors’ weak Q1 shows it’s a falling knife; avoid Tata Motors, on July 25, posted a huge loss of Rs 3,698 crore in ...

The company reported a 17 percent year-on-year growth in June quarter profit at Rs 329.1 crore from Rs 281.5 crore in the same period last fiscal. The share price of Canara Bank shed 4 percent intraday on July 25 as research house Morgan Stanley remained underweight on the stock with a target of Rs 220 per share. The company reported weaker PPoP and asset quality in Q1FY20, while company's Q1FY20 PAT is Rs 300 crore against an estimate of Rs 600 crore, said Morgan Stanley. Lower margins and sequential rise in slippages are the key negatives, while higher fees and lower than expected other operating expenses are the key positives. The company reported a 17 percent year-on-year growth in June quarter profit at Rs 329.1 crore from Rs 281.5 crore in the same period last fiscal. Also Read - Canara Bank Q1 profit jumps 17% to Rs 329 cr, asset quality improves However, net interest income in June quarter fell 16.6 percent to Rs 3,240.1 crore year-on-year but ...

Biocon | South Indian Bank | PVR | Trident | TRF | Techno Electric | Shriram Transport Finance and Maruti Suzuki are stocks which are in the news today. Maruti Suzuki India, Bajaj Auto, Punjab National Bank, Vedanta, JSW Steel, Tilaknagar Industries, Supreme Petrochem, Usha Martin, Polycab India, ABB India, Oriental Carbon, Elecon Engineering Company, Astec LifeSciences, Plastiblends India, Atul, Kalyani Forge, Balaji Amines, Remsons Industries, Confidence Petroleum India, VST Industries, Puravankara, Jubilant Life Sciences, Mangalam Drugs, Music Broadcast, Teamlease Services, KPIT Technologies, Aarti Drugs, Vodafone Idea, DIC India, Indraprastha Medical Corporation, Bajaj Holdings, Alicon Castalloy, Mahindra Lifespace Developers Tata Motors Q1: Consolidated loss at Rs 3,698 crore against loss of Rs 1,902.37 crore, revenue declines 7.8 percent to Rs 61,467 crore YoY; JLR pre-tax loss at 395 million pound against 264 million pound loss YoY; net automotive debt rises to Rs ...

Infosys raised its full-year constant currency revenue guidance to 8.5-10 percent after reporting revenue growth of 2.3 percent Technology stocks gained momentum on July 15 with the Nifty IT index rising nearly 3 percent outperforming other sectoral indices after Infosys surged during the day. Infosys touched a record high of Rs 781.65, rising more than 7 percent, followed by Oracle Financial, Tech Mahindra, TCS and Mindtree that gained 1-3 percent. Wipro and HCL Technologies also traded higher with moderate gains. Infosys raised its full-year constant currency revenue guidance to 8.5-10 percent after reporting revenue growth of 2.3 percent, which was better than its closest peer TCS (1.6 percent), though profit fell 6.8 percent sequentially. Brokerages also raised price target on the stock, saying the risk-reward is favorable and guidance revision alluded the company's confidence in its pipeline and large deal wins. The revised capital allocation to 85 pe...

Canara Bank | NHPC | Delta Corp | Hero Motocorp | Voltas and Meghmani Organics are stocks which are in the news today. Results on July 9: TCS, Excel Realty Delta Corp Q1: Profit rises to Rs 42.48 crore versus Rs 41.41 crore; revenue falls to Rs 186.51 crore versus Rs 187.25 crore YoY. Fortis Healthcare: Subsidiary Fortis Healthcare International Limited divested entire stake in The Medical and Surgical Centre Limited (MSCL) [renamed as C-Care (Mauritius) Ltd.]. Titan: April-June jewelry revenue grew by 13 percent YoY. Jewelry sales muted as high gold prices hit demand. Sandur Manganese & Iron Ores: ICRA issued rating rationale, re-affirming ratings and revised the outlook on a long-term rating from Stable to Positive. Canara Bank: Bank proposes to sell the equity shares of Webcon Consultancy (India) Ltd, unlisted company. Bank has floated RFQ (request for quotes), inviting quotation/bid for the purchase of the said equity shares from the bank. D...

Spot gold was up 0.2% at $1,417.40 per ounce as of 0119 GMT. Prices touched $1,435.99 on Wednesday, the highest since June 25. Gold prices inched up on Friday and were heading for their seventh consecutive weekly gain, with investors waiting for U.S. non-farm payrolls data later in the day for clues on the outlook for interest rate cuts. FUNDAMENTALS Spot gold was up 0.2% at $1,417.40 per ounce as of 0119 GMT. Prices touched $1,435.99 on Wednesday, the highest since June 25. The metal has risen 0.7% so far this week and is on track for its seventh consecutive weekly rise U.S. gold futures were down 0.1% at $1,419.90 an ounce. All eyes are on U.S. non-farm payrolls, due later in the day, which is expected to have jumped by 160,000 in June compared with 75,000 in May. The U.S. Federal Reserve holds its two-day policy meeting on July 30-31 and futures are fully pricing in a 25-basis-point cut. The dollar index was relatively unchanged against a basket...

The currency fell 6 paise compared to Thursday's close of 68.49 a dollar. The Indian rupee has opened lower at 68.55 against the US dollar on July 5 as traders turned cautious ahead of Union Budget 2019 to be presented by Finance Minister Nirmala Sitharaman later today. The currency fell 6 paise compared to Thursday's close of 68.49 a dollar. The dollar-rupee July contract on the NSE was at 68.70 in the previous session. July contract open interest increased by 0.92% in the previous session. "We expect the US$INR to find resistance at higher levels. Utilize the upsides in the pair to initiate short positions," ICICI Direct said. Get a 2 days free trial in Stock Market Tips and MCX Tips   

The company said these projects will be set up under EPC mode and will add to the installed capacity of NTPC NTPC shares gained 2 percent intraday on June 26 after receiving 40MW of solar projects from Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA). The country's largest power generation company said it participated in the UPNEDA's tender for 500 MW solar capacity with two bids of 20 MW each at Auraiya and Rihand. Reverse Auction was carried out on June 25, 2019, and NTPC won entire 40 MW of solar capacity bid at a tariff of Rs 3.02/kWh applicable for 25 years, it added. The company said these projects will be set up under EPC mode and will add to the installed capacity of itself. The stock was quoting at Rs 141.40, up to Rs 2.50, or 1.80 percent on the BSE at 0933 hours IST. Note: The story was updated to change the date in the first paragraph. In the earlier version, it said June 25.  Get a 2 days free trial in Stock Mar...

738 stocks advanced and 1017 declined while 346 remained unchanged on the NSE. On the BSE, 994 stocks advanced, 1430 declined and 179 remained unchanged. The Indian benchmark indices are trading in the red with Nifty down 46 points and are trading at 11,677 while the Sensex shed 134 points and is trading at 39,059 level. Nifty Energy along with the metal index is down over a percent dragged by ONGC, HPCL, BPCL, Indian Oil Corporation, GAIL India and Reliance Industries. From the metal space, the top losers are JSPL, JSW Steel, Hindustan Copper, Hindustan Zinc, Tata Steel, NMDC, SAIL, and Vedanta. Nifty Realty also slipped over a percent, the top losers are Oberoi Realty, Sunteck Realty, DLF, Brigade Enterprises and Prestige Estates. Moto, Motherson Sumi and Exide Industries. From the BSE midcap space, the top gainers are DHFL, NBCC, Adani Power and Divis Labs while the top losers are Reliance Power, Emami, Glenmark Pharma, and KIOCL. The top gainers fr...

Kewal Kiran Clothing | Surana Telecom | Tata Motors | NTPC | GAIL | Bombay Dyeing and Eveready Industries are stocks which are in the news today. NTPC: Company wins 160 MW solar capacities in Solar Energy Corporation Of India's (SECI) Rajasthan Tranche-II, 750MW tender. APL Apollo Tubes: Crisil reaffirmed its rating on the company's long term fund based limits at AA-/Stable and short term at A1+. Jet Airways: SBI's insolvency plea against company admitted in National Company Law Tribunal. NCLT tells Interim resolution professional (IRP) to submit fortnightly progress reports on Jet Airways case. Vadilal Industries: Jignesh Shah & Malay Mahadevia Independent Directors of the company tendered their resignation. AU Small Finance Bank: Board approved to augment the capital by issue of Basel II compliant, Rated, Unlisted, Tier II, unsecured non-convertible redeemable debentures, being classified as subordinated debt in one or more tranches to Rs...

Adani Gas said it sold 14 percent more CNG to automobiles and five percent more piped cooking gas to household kitchens in the fourth quarter of 2018-19. Shares of Adani Gas surged more than 13 percent intraday on May 28 after the company almost doubled its net profit in the March quarter on the back of higher sales. The company in its exchange release said net profit in the January-March quarter stood at Rs 75.68 crore, 91 percent higher than Rs 39.65 crore in the corresponding period of the previous year. The Gautam Adani-led firm's turnover increased 24 percent to Rs 494 crore. Adani Gas said it sold 14 percent more CNG to automobiles and five percent more piped cooking gas to household kitchens in the fourth quarter of 2018-19. Gautam Adani's Group had in November last year separated city gas business and listed it on stock exchanges. At 1208 hrs, Adani Gas was quoting Rs 161.95, up 13.33 percent on the BSE. Get a 2 days free trial in Stock...

On March 29, PNB had entered into an agreement for sale of 1,08,91,733 equity shares held in PNB Housing Finance to Varde Holdings at Rs 850 per share, aggregating to Rs 925.80 crore. Shares of PNB Housing Finance fell more than 4 percent intraday on May 17 after its promoter company Punjab National Bank (PNB) terminated the share purchase agreement (SPA) entered into with Varde Holdings for the sale of the housing finance company. On March 29, PNB had entered into an agreement for sale of 1,08,91,733 equity shares held in PNB Housing Finance to Varde Holdings at Rs 850 per share, aggregating to Rs 925.80 crore. "PNB and Varde have mutually agreed to terminate the SPA, and all rights and obligations of the parties thereunder with immediate effect. Post-termination of the SPA, PNB will continue to be the sole promoter of the company and stay strategically invested in the company," the bank said in an exchange filing. At 0956 hrs, PNB Housing Finance was q...