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

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,...

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...

On July 29 the Indian rupee has recovered from the low and ended 14 paise higher at 68.73 against the US currency amid easing crude oil prices. The Indian rupee opened flat at 68.75  per dollar on Tuesday versus previous close 68.73. On July 29 the Indian rupee has recovered from the low and ended 14 paise higher at 68.73 against the US currency amid easing crude oil prices. A special offer this week. take 2 days  free trial in Stock Market Tips and MCX Tips

Average revenue per user (ARPU) was up 3.8 percent at Rs 108 against Rs 104, QoQ. The share price of Vodafone Idea touched a 52-week low of Rs 7.30, down 21 percent intraday July 29 as the company reported poor numbers for the quarter ended June 2019. The company has posted net loss at Rs 4,873.9 crore in the Q1FY20 against loss of Rs 4,881.9 crore in the quarter ended March 2019. Revenue of the company declined to Rs 11,270 crore from Rs 11,775 crore. Earnings before interest, tax, depreciation, and amortization (EBITDA) was up at Rs 3,650 crore against Rs 1,785.3 crore, the margin was up at 32.4 percent versus 15.2 percent, QoQ. Average revenue per user (ARPU) was up 3.8 percent at Rs 108 against Rs 104, QoQ. However, the company has added 4.1 million 4G users in the last quarter. At 10:14 hrs Vodafone Idea Limited was quoting at Rs 7.33, down Rs 1.92, or 20.76 percent on the BSE. For taking 2 days free trial and Stock Market Tips with more than ...

Maruti Suzuki India Ltd’s shares have been battered, as strong headwinds have derailed passenger vehicle (PV) sales over the last several months. Since January, its shares have fallen 23% on the back of steady cuts in earnings forecasts. Against this backdrop, it was expected that the June quarter performance would be worse than the year-ago period. After all, one could not expect miracles after the carmaker reported an 18% drop in sales volumes. With sales falling in all segments, with the exception of light commercial vehicles, operating leverage took a beating. Hence, Ebitda (earnings before interest, taxes, depreciation, and amortization) margin fell by a whopping 450 basis points year-on-year to 10.4%. But this was in line with Street estimates. Weak capacity utilization on account of poor sales, higher depreciation, and promotional expenses, and adverse currency movement dented profitability. That said, the company’s measures to control costs and even lower ...

Beverage major PepsiCo India on Sunday announced it will set up greenfield snacks manufacturing plant in Uttar Pradesh with a total investment of around Rs 514 crore over the next three years. The company signed a memorandum of understanding (MoU) here with representatives of the Uttar Pradesh government on Sunday. "The new investment plan is in line with PepsiCo's goal to double its snacks business in the country by 2022 and is expected to help create over 1,500 jobs (direct and indirect)," the company said in a statement. "As part of this project, PepsiCo India would expand its backward integration with local farmers and help bring agricultural best practices to enable socio-economic growth for potato farmers in Uttar Pradesh.  "To enable the supply chain, the company will set up a cold storage facility and this would also give an impetus to the development of ancillary and other support industries in the state," it added. The be...

Citi has a buy call on Ambuja Cements with a target price at Rs 290 as Q2 EBITDA per tonne was at 7-year high but pricing trumped volumes. Most brokerage houses were bullish on Ambuja Cements after June quarter earnings, with CLSA upgrading the stock to buy and also raising price target to Rs 265. Strong cement pricing drove EBITDA per tonne to a multi-quarter high despite an 8 percent decline in volumes, the brokerage said. The cement maker reported a 15 percent year-on-year growth in the June quarter (Q1) standalone profit net of dividend at Rs 412 crore, backed by strong operating income. "Ambuja delivers a strong performance in the quarter backed by higher realizations and accelerated cost-saving actions. Despite higher fuel costs, the company did well by optimizing logistics costs, reducing raw material and fixed costs. Cement demand growth was muted in the quarter," Bimlendra Jha, Managing Director, and CEO said. Standalone revenue from operati...

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...

Bank said fresh slippages for the June quarter at Rs 5,583 crore, which fell on a quarter-on-quarter basis, and provision for NPA stood at Rs 3,168 crore in Q1. Public sector lender Bank of Baroda was back in the black in the June quarter 2019 with a profit after the amalgamation of Rs 710 crore. However, asset quality weakened sequentially. On a comparable basis, the amalgamated bank (standalone) made a loss of Rs 49 crore in June quarter 2018, the bank said. The loss (mentioned in the statement) for March quarter was Rs 991.37 crore. Dena Bank and Vijaya Bank had been merged into Bank of Baroda last year. Net interest income during the quarter grew 2.6 percent to Rs 6,496 crore compared to a year ago. This resulted in a drop in NIM to 2.73 percent in Q1FY20 from 2.78 percent (adjusted for IT refund) in the previous quarter, the public sector lender said in its BSE filing. The bank said while YoY credit growth of the amalgamated entity moderated to 6.4 percen...

Zee Entertainment | Torrent Pharma | MCX | Praj Industries | JK Paper | M&M Financial and Everest Industries are stocks which are in the news today. Asian Paints, Canara Bank, Bharti Infratel, GE T&D India, Sagar Cements, Orient Bell, Liberty Shoes, Quess Corp, Monnet Ispat & Energy, MPS, Security and Intelligence Services, NELCO, Kewal Kiran Clothing, ICICI Prudential Life, Monsanto India, Sharda Cropchem, V-Guard Industries, Syngene International, KSB, Reliance Nippon Life Asset Management, Oberoi Realty, IDFC First Bank, Tube Investments of India, Newgen Software Technologies, Jubilant Foodworks, Rane (Madras), Intellect Design Arena, Umang Dairies, Syndicate Bank, Karur Vysya Bank, Crompton Greaves Consumer Electricals, Shriram Transport Finance Company, Cigniti Technologies, PI Industries, Tejas Networks, Maharashtra Scooters L&T Q1: Profit grows 21.2 percent to Rs 1,473 crore versus Rs 1,215 crore, revenue increases 9.7 percent to Rs 29,636 crores...

Trade Setup for Thursday: Top 15 things to know before Opening Bell The market fell for the fifth consecutive session on July 24 with the Nifty closing below 11,300 level ahead of F&O expiry. Banks, auto, metals, pharma, and select technology stocks dragged benchmark indices. The BSE Sensex was down 135.09 points at 37,847.65 while the Nifty 50 declined 59.70 points to 11,271.30, forming bearish candle on daily charts. As the index fell below the 200-day exponential moving average (11,297), there could be more selling pressure with a bit of volatility in the coming session, experts feel. "The index is now stone's throw away from the May low of 11,108, which is the make or break level for the medium-term trend. The odds are suggesting a bounce prior to breaking the low of 11,108. Nevertheless, one more push down to 11200 looks possible for the short term," Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas told Moneycontrol. ...

The IPO comprises of a fresh issue aggregating up to Rs 90 crore and an offer for sale of up to 49,53,020 equity shares by Affle Holdings, according to a company statement. The Rs 459-crore initial public offer (IPO) of mobile marketing company Affle India will open for bidding on July 29 with a price band of Rs 740–745 per equity share. The IPO comprises of a fresh issue aggregating up to Rs 90 crore and an offer for sale of up to 49,53,020 equity shares by Affle Holdings, according to a company statement. The issue will close on July 31, 2019, it added. ICICI Securities, Nomura Financial Advisory and Securities (India) are the book-running lead managers to the offer. The equity shares of the company are proposed to be listed on the National Stock Exchange of India and BSE. As on May 31, 2019, the company had 236 full-time employees across offices located in Gurugram, Mumbai, Bengaluru, Singapore, Jakarta (Indonesia) and Dubai (UAE), as per the company...

The share touched its 52-week high Rs 643.90 and 52-week low Rs 365.20 on 10 September 2018 and 27 February 2019, respectively. The share price of Mastek slipped nearly 10 percent intraday Tuesday after the company reported a poor set of numbers in the quarter ended June 2019 (Q1FY20). The company's Q1 net profit slipped 11.7 percent to Rs 24.2 crore versus Rs 27.4 crore in the quarter ended March 2019. Revenue shed 7.3 percent to Rs 247.5 crore versus Rs 267.1 crore. At 11:08 hrs Mastek was quoting at Rs 418.30, down Rs 39.30, or 8.59 percent on the BSE. The share touched its 52-week high Rs 643.90 and 52-week low Rs 365.20 on 10 September 2018 and 27 February 2019, respectively. Currently, it is trading 35.04 percent below its 52-week high and 14.54 percent above its 52-week low. A special offer this week. take 2 days  free trial in Stock Market Tips and MCX Tips