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

Considering Friday’s action, a possibility of some relief in the forthcoming week cannot be ruled out. In this scenario, 11,350 – 11,450 can be retested Market participants were completely dejected with the Budget, and this clearly reflected in the price action thereafter in the week gone by. The overall chart structure looks distorted and hence, till the time we are below 11,550 – 11,700, the bears remain in the dominating position. As far as supports are concerned, 11,200 seems to have earned some respect and below which we can see a sheet anchor support of ‘200-day SMA’ which now coincides with May's low of 11,108.30. Considering the action on July 26, a possibility of some relief in the forthcoming week cannot be ruled out. In this scenario, 11,350 – 11,450 can be retested. But, as highlighted above, one needs to be agile and should probably take some profit off the table at least on momentum trades. In the forthcoming week, we expect stock-specifi...

Cochin Shipyard | MMTC | IFB Agro | Kingfa Science | SPARC | Dalmia Bharat Sugar and DLF are stocks, which are in news today. Axis Bank, Hero MotoCorp, Tech Mahindra, Bank of India, PNB Housing Finance, Piramal Enterprises, Dish TV, New Delhi Television, GRP, Repro India, Sumeet Industries, TCI Express, Chemfab Alkalis, TCI Developers, Andhra Cements, Kalpataru Power Transmission, VIP Industries, Aegis Logistics, Gulf Oil Lubricants, Vinati Organics, Shoppers Stop, Solar Industries, Prism Johnson, United Bank of India, Vaibhav Global, Cholamandalam Investment, NOCIL, PTL Enterprises, Spice Mobility, Balkrishna Paper Mills, Super Spinning Mills, R Systems International, Gujarat Gas, Mangalore Refinery and Petrochemicals, Swaraj Engines, NMDC, RPG Life Sciences, Granules India, Welspun India, HeidelbergCement India, Fertilizers and Chemicals Travancore, Orient Electric, EIH Associated Hotels Dr. Reddy’s Laboratories Q1: Net profit up 45.4% at Rs 663 crore versus Rs 456.1 cr...

Market participants are now awaiting the US central bank's July 30-31 monetary policy meeting, where it is expected to trim its interest rate by at least 25 basis points. Gold prices gained on July 29 ahead of this week's US Federal Reserve monetary policy meeting, which is expected to lead to a cut in US interest rates. FUNDAMENTALS Spot gold was up 0.4% at $1,423.49 per ounce, as of 0121 GMT. US gold futures gained 0.3% to $1,423.20 an ounce. Market participants are now awaiting the US central bank's July 30-31 monetary policy meeting, where it is expected to trim its interest rate by at least 25 basis points. Interest rate futures are fully priced for a quarter-point rate cut from the Fed on Wednesday, with only a small chance of a half-point move. US economic growth slowed less than expected in the second quarter according to a Commerce Department report on Friday, making the Fed less likely to cut rates by 50 basis points given the eco...

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 ...

Kotak Institutional Equities, as well as Prabhudas Lilladher, expect 22 percent decline year-on-year and 15 percent sequential fall in provisions for bad loans. Country's largest private sector lender ICICI Bank July 27 is expected to report a profit in the range of Rs 1,300-2,100 crore for the June quarter, backed by double-digit year-on-year (YoY) growth in loan book and net interest income. The bank had reported a loss of Rs 119.6 crore in the June quarter last year and a profit of Rs 969.1 crore in the March 2019 quarter. The stock gained 1.6 percent to close at Rs 415.50 on July 26. It has gained 51 percent over the last year amid hope of improvement in the asset quality. Brokerages expect Q1 net interest income growth around 17-19 percent and loan growth around 13-15 percent YoY. "We expect core earnings (base quarter had stake sale gains of ICICI Life) trajectory to remain strong at around 15 percent YoY, led by healthy loan growth (around 15 p...

The decision in this regard was taken in the board meeting held July 25, PNB said in a regulatory filing. State-owned Punjab National Bank (PNB) on Thursday said its board has approved raising Rs 5,000 crore through public offer. The decision in this regard was taken in the board meeting held July 25, PNB said in a regulatory filing. The board has granted approval for raising equity capital amounting up to Rs 5,000 crore in one or more tranches through Qualified Institutional Placements (QIP) or Follow-on Public Offer (FPO) or Rights Issue, it said. A special offer this week. take 2 days  free trial in Stock Market Tips and MCX Tips

On July 25 the Indian rupee ended 6 paise lower to close at 69.04 against the US dollar on the back of sustained foreign fund outflows and firm crude oil prices. The Indian rupee opened lower by 8 paise at 69.12 per dollar on Friday versus Thursday's close 69.04. On July 25 the Indian rupee ended 6 paise lower to close at 69.04 against the US dollar on the back of sustained foreign fund outflows and firm crude oil prices. The weakness in the domestic equity markets and a strengthening greenback puts further weigh on the local currency. The dollar-rupee July contract on the NSE was at 69.05 in the previous session. Open interest declined 14.47% in the previous session, said ICICIdirect. We expect the USD-INR to find supports at lower levels. Utilize downsides in the pair to initiate long positions, it added. Get a 2 days free trial in Stock Market Tips and MCX Tips  

Profit grew by 10.9 percent year-on-year to Rs 634.3 crore and net interest income increased by 7.7 percent to Rs 1,961.7 crore in the quarter ended June 2019. Shriram Transport Finance Corporation shares rallied 9 percent intraday on July 25 as its June quarter earnings beat analyst expectations despite slowdown and election period. Profit grew 10.9 percent year-on-year to Rs 634.3 crore and net interest income increased 7.7 percent to Rs 1,961.7 crore in the quarter ended June 2019. Operating profit grew 9.8 percent year-on-year (up 2 percent QoQ) to Rs 1,542.8 crore in Q1. Capital adequacy ratio also inched up to 20.1 percent at the end of June quarter against 16.9 percent in the previous year. While having the overweight call on the stock with a target price at Rs 1,350 (implying 46 percent potential upside from current levels), global investment firm Morgan Stanley said numbers were in-line with its estimates as profit was marginally better than expectations....

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 ...

Fitch rates Tata Motors on a consolidated basis including 100 percent of JLR, considering its ability to access cash at JLR despite weak legal and operational ties Shares Tata Motors fell nearly 4 percent intraday on July 24 after global rating agency Fitch downgraded company's long term issuer rating with a negative outlook. The stock was quoting at Rs 152.05, down Rs 4.15, or 2.66 percent on the BSE at 1402 hours IST. Fitch Ratings downgraded the long-term issuer default rating (IDR) of Tata Motors to 'BB-' from 'BB', saying the outlook is negative. "The rating has been removed from 'rating watch negative' where it was placed on February 6," it added. Fitch rates Tata Motors on a consolidated basis including 100 percent of JLR, considering its ability to access cash at JLR despite weak legal and operational ties. The downgrade reflects the reduction in Fitch's expectations for Tata Motors' profitability and f...

Global brokerage house Citi upgraded its rating on HDFC Life to buy from sell and also raised target price to Rs 600 from Rs 390, as value of new business (VNB) delivery was much ahead of expectations in Q1 Shares of HDFC Life Insurance Company rallied nearly 5 percent intraday to hit a 52-week high of Rs 532.90 on July 24. Global brokerage houses raised price target sharply after stellar earnings performance in Q1. At 0925 hours IST, the stock was quoting at Rs 526.50, up to Rs 17.90, or 3.52 percent on the BSE. HDFC Life reported 11.7 percent year-on-year growth in profit at Rs 424.62 crore, driven by growth in new business premiums. New business margins jumped to 29.8 percent in Q1FY20, compared to 24.2 percent a year ago. The 13th-month persistency also rose to 88.8 percent in Q1FY20 from 85 percent in the year-ago period. Global brokerage house Citi upgraded its rating on HDFC Life to buy from sell and also raised target price to Rs 600 from Rs 390, as va...

ICICI Prudential | Quess Corp | Syndicate Bank | Bharti Infratel | SIS India and Syngene International are stocks which are in the news today. Tata Motors, Bajaj Finance, Bank of Baroda, Ambuja Cements, Biocon, Bajaj Finserv, IFB Industries, Ador Welding, Taj GVK Hotels, Grindwell Norton, Rane Brake Lining, Shreyans Industries, RS Software (India), Banaras Beads, Bharat Bijlee, Eimco Elecon, Tata Steel BSL, Som Distilleries & Breweries, Mold-Tek Technologies, Apcotex Industries, Greenlam Industries, Thirumalai Chemicals, Tata Coffee, Genus Power Infrastructures, Gruh Finance, Mafatlal Finance, Jubilant Industries, Foseco India, Persistent Systems, Mold-Tek Packaging, PVR, MphasiS, AU Small Finance Bank, Onward Technologies, Central Depository Services (India), South Indian Bank Quess Corp Q1: Profit falls 25.4 percent to Rs 56.3 crore versus Rs 75.5 crore, revenue rises 49.1 percent to Rs 2,394.7 crore versus Rs 1,968.3 crore YoY. Syndicate Bank Q1: Loss at Rs 980...