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

The company said it has been declared L-1 bidder by the Water Resources Department for the project in Jharkhand. Dilip Buildcon shares gained 2 percent intraday on July 30 as the construction company bagged order to construct a dam in Jharkhand. The stock rallied 28 percent in the last six months. It was quoting Rs 420.60, up to Rs 3.70, or 0.89 percent on the BSE at 1113 hours. "Company has been declared L-1 bidder for the project 'construction of Kharkai Dam at Icha with all control gates and its allied works including civil, mechanical (with the design of gates), electrical and SCADA System under SMP in Jharkhand," Dilip Buildcon said in its BSE filing. The company further informed exchanges that it has been declared L-1 bidder by the Water Resources Department for the project in Jharkhand. In addition, its wholly-owned subsidiaries DBL Sangli Borgaon Highways Private Limited and DBL Mangalwedha Solapur Highways Private Limited received the ap...

At a time when there is a broad-based economic slowdown, growth in lending is hard to come by. In that scenario, Axis Bank Ltd’s swift turnaround to a robust core income growth, driven by a 19% increase in domestic loans, should cheer investors. The fact that this growth comes in tandem with a reduction in the private sector lender’s toxic loan pile is an added positive. Indeed, the management said the bank is not chasing extraordinary growth, but would rather lend to good borrowers, a message given by most other private-sector lenders that have announced results so far. This preference for safety is writ large over the Axis Bank’s balance sheet. Loan growth is driven by retail; small businesses, especially the dealership network of the automobile sector, have been avoided. Another safety net provisions, which rose 14% from a year ago, despite the toxic loan stockpile reducing in the June quarter. The bank does not want to take any chances on asset quality and, he...

Total income, however, declined to Rs 1,540.95 crore during the April-June quarter of this fiscal from Rs 1,657.67 crore in the corresponding period of the previous year, the company said in a regulatory filing. Realty major DLF on Monday reported over two-fold jump in its consolidated net profit at Rs 414.72 crore for the quarter ending June despite a fall in revenue. Its net profit stood at Rs 172.77 crore in the year-ago period. Total income, however, declined to Rs 1,540.95 crore during the April-June quarter of this fiscal from Rs 1,657.67 crore in the corresponding period of the previous year, the company said in a regulatory filing. The company reported an exceptional income of Rs 296.51 crore, which helped in a significant rise in its net profit. The company's net sales bookings stood at Rs 705 crore in the June quarter. In a statement, DLF said that promoters infused the last tranche of funds amounting to Rs 2,250 crore into the company in the las...

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...

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...

In this episode of The Market Podcast, Moneycontrol’s Sakshi Batra gets in conversation with Market’s Editor Kshitij Anand to get the big picture of all the action on D Street. Although there was some recovery in the market on July 26 (Friday), the market ended on a negative note in the week (July 22-26) gone by. Rains, a poor run of results and FIIs continuing to pull out of the Indian market weighed down in D Street. In this episode of The Market Podcast, Moneycontrol’s Sakshi Batra gets in conversation with Market’s Editor Kshitij Anand to get the big picture of all the action on D Street. As for the coming week (July 29 to August 2), Anand says all eyes will be on the US Fed’s decision on the interest rate cut, and ITC and SBI's Q1 results. For taking 2 days free trial and Stock Market Tips with more than 90% accuracy click here MCX Tips

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...

Research house Jefferies has maintained buy rating with a target of Rs 3,600 per share Shares of Bajaj Finance rose 6.5 percent intraday on July 26 after research house Jefferies maintained a buy rating on the stock on better June quarter numbers. The company has reported June quarter consolidated net profit at Rs 1,195 crore, a jump of 43 percent against the consolidated profit of Rs 835.9 crore in the corresponding period of the last fiscal. Net interest income during the quarter beat street estimates and grew 43 percent to Rs 3,695 crore compared to the year-ago. The consolidated asset under management surged 41 percent YoY to Rs 1.29 lakh crore. Research house Jefferies has maintained buy rating with a target of Rs 3,600 per share Pre Provision Operating Profit (PPoP) is ahead of the estimates, but provision surprised negatively. Meanwhile, the asset quality is stable QoQ. The firm feels that the company has flagged early signs of stress in digital...

The gross spend on research and development rose 78 percent YoY to Rs 79 crore. Shares of Biocon gained nearly 6% in the early trade on July 26 after the company reported robust numbers for the quarter ended June 2019 (Q1FY20). The company reported an 86 percent year-on-year (YoY) jump in net profit at Rs 223 crore for the quarter ended June led by growth of biosimilars and small molecules businesses. The company reported a net profit of Rs 120 crore in the year-ago period. Total revenue for the quarter grew 25 percent to Rs 1,466 crore in the April-June period, Biocon said in a statement. Also Read - Biocon Q1 net profit zooms 86% to Rs 223 crore led by biosimilars, small molecules segments The gross spend on research and development rose 78 percent YoY to Rs 79 crore. EBITDA stood at 31 percent for Q1FY20 compared to previous year’s 26 percent. At 09:22 hrs Biocon was quoting at Rs 247, up to Rs 8.45, or 3.54 percent on the BSE. The share tou...

Time schedule for completion of the work shall be 330 calendar days after the commencement date of the contract. Mcnally Bharat Engineering shares rose 4.6 percent intraday Thursday after the company won an order worth Rs 46.70 crore. It has touched a 52-week low of Rs 2.30. The company received one order from SGTORE Company, a Hong Kong-based company, relating to work of design and engineering, the supply of equipment, two years spare parts, three months consumables on EPS basis worth Rs 46,70,58,418. The scope of work of the contract includes implementation of the first phase of an outdoor lead and zinc floatation plant project for the production of 170,000 metric tons of zinc concentrate with zinc Grade of 55% and 54,000 metric tons of lead concentrate with a lead grade of 60%. Time schedule for completion of the work shall be 330 calendar days after the commencement date of the contract. At 12:10 hrs Mcnally Bharat Engineering was quoting at Rs 2.49, u...

ICICI Direct also said Infratel's reported revenues (without the impact of IndAS 116) at Rs 3,629.7 crore were better than its estimate of Rs 3,558.3 crore Shares of Bharti Infratel rallied nearly 6 percent intraday on July 25 as Morgan Stanley retained positive stance on the stock after strong Q1 show. While having an overweight call on the stock with a target price at Rs 323 (implying a 22 percent potential upside from current levels), the global brokerage house said revenue in Q1FY20 was in-line with its estimates. The investment firm further said tenancy movement was positive this quarter with fewer tenancy deletions. ICICI Direct also said Infratel's reported revenues (without the impact of IndAS 116) at Rs 3,629.7 crore were better than its estimate of Rs 3,558.3 crore. The outperformance was on account of core rental revenues that came in at Rs 2,182 crore, up 3.5 percent YoY against its expectation of Rs 2,065 crore. The company reported a ...

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 ...

Revenue of the company was down at Rs 663.6 crore versus Rs 831.8 crore.+ The share price of Bayer CropScience touched 52-week low, falling 3.6 percent intraday Wednesday after the company posted poor numbers for the quarter ended June 2019. The company's Q1 net profit fell to Rs 59.3 crore versus Rs 147.2 crore in the same quarter last fiscal. Revenue of the company was down at Rs 663.6 crore versus Rs 831.8 crore. D. Narain, Vice Chairman & Managing Director and CEO of Bayer CropScience said, “Late-onset of monsoon and delayed Kharif sowing season resulted in deferment of product placement in the market, which impacted our Q1 results." "While the rain deficit has reduced in July and would support improved sales growth in Q2, significant rain delays continue in some areas of Western and Southern India, which could impact our results,” he added. The share price declined 28 percent in the last year. Get a 2 days free trial in Stock ...

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...