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...

Tech Mahindra | DHFL | JSW Steel | Gujarat Gas | Alkem Labs | Dish TV | Shoppers Stop and Vinati Organics are stocks which are in the news today. Eicher Motors, Indian Oil Corporation, UPL, Ashok Leyland, Apollo Tyres, NR Agarwal Industries, Star Cement, Symphony, Zee Media Corporation, Allahabad Bank, Future Supply Chain Solutions, JBF Industries, SKM Egg Products, Tanla Solutions, Trent, Digicontent, Uttam Value Steels, MAS Financial Services, Gandhi Special Tubes, Tamilnadu PetroProducts, Shyam Century Ferrous, Maithan Alloys, BF Investment, Indian Energy Exchange, Ajanta Pharma, Kabra Extrusion Technik, Vardhman Special Steels, Indiabulls Ventures, Carborundum Universal, Container Corporation of India, Genus Paper & Boards, Heritage Foods, Blue Dart Express, Motilal Oswal Financial Services, Mahindra Holidays & Resorts India, Creditaccess Grameen, LG Balakrishnan & Bros, Sanwaria Consumer, HCL Infosystems, IndiaMart InterMesh, Sequent Scientific, Expleo Solutions,...

In this episode of the Simply Save podcast, Moneycontrol's Personal Finance Editor Kayezad Adajania gets in conversation with debt market expert Joydeep Sen to get answers for questions that are troubling investors. Numerous investors are worried that their debt fund investments could be at risk due to the NBFC crisis. Many are unsure whether they should take the crisis as an opportunity and invest further or pull out their money before it’s too late. If you're sailing in the same boat, here's help at hand. In this episode of the Simply Save podcast, Moneycontrol's Personal Finance Editor Kayezad Adajania gets in conversation with debt market expert Joydeep Sen to get answers for questions that are troubling investors. A special offer this week. take 2 days  free trial in Stock Market Tips and MCX Tips

Tech Mahindra Ltd’s shares had underperformed the market after its revenue growth fell sharply in the March quarter. Profit margins narrowed at a higher-than-expected pace as well, raising concerns about its earnings. The June quarter results, released after market hours on Tuesday, provide no major reason to alter the stock’s trajectory. Dollar revenues grew just 1.9% year-on-year and fell 1.6% compared to the March quarter. “In the current quarter, the company faces seasonality, however, even after factoring the seasonality, Tech Mahindra’s revenues were below our expectation," ICICI Direct Research said in a note. Worse still, the fall in profitability was far higher than Street expectations. Ebit (earnings before interest and tax) margins contracted 1.5 percentage points from a year ago. As a consequence, operating earnings (Ebit) in dollar terms dropped 9% from a year ago. Sequentially, they are down as much as 26%. “Margins are way below estimates leaving r...

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...

ABB India Ltd’s shares stood firm at ₹1,394.55 on Monday even as the rest of the market was in turmoil. The order inflows into the Swiss multinational’s Indian arm in the June quarter seemed to have impressed the Street. At ₹1,989 crore, orders rose 23% from the year-ago period. The order book has increased a tad to ₹4,656 crore. But this provides less than a year’s revenue visibility for ABB India. “Lower visibility is mainly due to a short-cycle nature of the business," said Arafat Saiyed, assistant vice president (research) at Reliance Securities Ltd. Additionally, the stock’s rich valuation in an environment of underlying risks to growth is a concern. Analysts’ consensus pegs the forward price-earnings ratio between 60 and 65 times the estimated calendar year earnings. However, the question is whether there would be commensurate earnings growth in the next two years. The June quarter’s revenue growth of 4% reflects macroeconomic stress. Although some segm...

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...

After the public issue, promoters shareholding will be reduced to 68.38 percent from 92.17 percent, and total public shareholding will be 31.62 percent including Malabar India Fund and Malabar Value Fund. Mobile marketing firm Affle India will open its initial public offering for subscription on July 29. This is the sixth company launching an IPO in the current financial year 2019-20. ICICI Securities, and Nomura Financial Advisory and Securities (India) are the book-running lead managers to the offer. Equity shares after public issue are proposed to be listed on the National Stock Exchange of India and BSE. The issue will close on July 31, 2019, according to a company statement. Company Profile Affle is a global technology business. It has two business segments – Consumer Platform and Enterprise Platform. Consumer platform primarily provides services like new consumer conversions through relevant mobile advertising; retargeting existing consumers to compl...

Network18 Group Sports Editor Gaurav Kalra says it will exciting to watch how the youngsters picked in the squad will make a difference in the tour. After India's exit from World Cup 2019, the team is warming up for its Caribbean challenge. India soon flies to West Indies to take in three T20Is, three ODIs, and two Test matches. In this episode of On the Ball podcast, Monyecontrol's Prakhar Sachdeo discusses India's team selection for the T20Is and ODIs with Network18 Group Sports Editor Gaurav Kalra. Shreyas Iyer and Navdeep Saini will be the players to watch out for, given they're hungry to make a mark on the big stage and would like to make an impact against the Windies, says Kalra. Get a 2 days free trial in Stock Market Tips and MCX Tips  

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...

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 ...

While having a buy call on the stock, Jefferies said the bank reported decent pre-provision operating profit and NIM/NII & Fee were a beat offset by elevated costs, though asset quality disappointed in Q1. Shares of Bank of Baroda rallied more than 4 percent intraday on July 26 after global brokerage houses remained bullish on the stock, despite cutting the price target, after the amalgamated lender turned profitable in June quarter (Q1). According to Jefferies, the bank reported decent pre-provision operating profit and NIM/NII, though asset quality disappointed in Q1. The brokerage gas a buy call on the stock. The public sector lender turned profitable in the June quarter after reporting net profit at Rs 710 crore post amalgamation against loss of Rs 49 crore in the year-ago quarter. Last year, Dena Bank and Vijaya Bank were merged with Bank of Baroda. Net interest income during the quarter grew 2.6 percent with YoY credit growth of the amalgamated entit...