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

Rakesh Radheshyam Jhunjhunwala already held 1.90 percent stake in Jubilant as per the shareholding pattern of June 2019. Rare Enterprises, owned by the ace investor and billionaire Rakesh Jhunjhunwala, picked up 1 percent stake in Jubilant Life Sciences as per bulk deals data available on National Stock Exchange on July 30. The private equity company acquired 2,013,626 shares of the pharma firm at Rs 436.23 per share and sold 263,626 shares at Rs 435.75 per share. Therefore, the net acquisition of Rare Enterprises is 17.5 lakh shares representing 1.098 percent of total paid-up equity. Rakesh Radheshyam Jhunjhunwala already held 1.90 percent stake in Jubilant, as per the shareholding pattern of June 2019. East Bridge Capital Master Fund also increased its stake in the company by acquiring 1,250,000 shares at Rs 435 per share. The above acquisition of shares is on top of 4.63 percent stake already held by East Bridge Capital in the company as of June 2019. T...

India's debt-laden shadow bank Dewan Housing Finance Ltd (DHFL) has submitted a restructuring plan to its core committee of creditors (CoC), two sources involved in the matter said, adding that lead lenders were deliberating over the plan. DHFL, the fourth-biggest housing finance company in India, has roughly 1 trillion rupees ($14.5 billion) of debt and is in the process of seeking lender approval on a restructuring designed to help it ride out a liquidy crunch and restart its lending business. Several Indian non-banking finance companies (NBFCs), including DHFL, have been stung by an acute credit crunch sparked by the collapse of Infrastructure Leasing & Financial Services late last year. The restructuring plan submitted by DHFL includes the founder's family reducing its stake and restructuring of loans said one of the sources aware of details of the plan. The restructuring could include easier repayment terms, such as longer tenure and reduced inter...

Even before Hero MotoCorp Ltd announced its June quarter (Q1 FY20) results, the stock tanked 6.1% to ₹2,258.80, close to its 52-week low on the National Stock Exchange. As expected, the results were weak, in line with the 12.5% year-on-year drop in sales volume, announced earlier this month. Margin pressures along with the 9% drop in net sales led to a steep 16% fall in Ebitda to ₹1,158 crore. Ebitda stands for earnings before interest, tax, depreciation, and amortization. Two-wheeler demand has borne the brunt of the economic slowdown and cost pressures due to regulatory changes. According to Pradesh Jain, executive vice president at Yes Securities Ltd, “Increase in cost of ownership is likely to delay demand recovery. From the time insurance was hiked for vehicles till BS-VI emission norms come into force, the cost of owning a two-wheeler will increase substantially, which is bound to hurt demand." This is what has taken the Hero MotoCorp stock downhill. On the...

Motilal Oswal maintained its neutral rating on Havells India post-June quarter results with a target price of Rs 800. Havells India Ltd fell by about 5 percent on Monday. The electrical equipment manufacturer had on July 27 reported a 16.3 percent year-on-year (YoY) decline in June quarter consolidated profit on muted growth in key segments such as cables, lighting, and switchgear. The company's profit fell to Rs 177.09 crore over the June quarter, down from Rs 211.2 crore reported for the year-ago period. This year, the stock has underperformed benchmark indices so far. It is up nearly 2 percent in 2019, while on a yearly basis, the stock has risen a little over 14 percent. Consolidated revenue grew by 4.5 percent YoY to Rs 2,717 crore for the June quarter, with its electrical consumer durables business showing a double-digit growth of 24 percent YoY. The rest of its segments showed tepid growth. The company's switchgear business revenue rose half a p...

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 company reported standalone net loss during the quarter stood at Rs 158.83 crore as compared to a net loss of Rs 285.02 crore in the previous year quarter. Net revenue of the company declined substantially by 29.04 percent at Rs 1,199.88 crore in the April-June quarter of this fiscal as against Rs 1,690.82 crore in the corresponding period last year. During the April-June quarter, operating expenses dropped by 24.12 percent to Rs 1,141.56 crore from Rs 1,504.36 crore in the year ago period. Other Income grew by 654.28 percent at Rs 72.26 crore versus (Jun'18 Rs 9.58 crore). Operating profit slipped by 68.72 percent to Rs 58.32 crore as against Rs 186.46 crore in the year-ago period, while Operating Profit Margin (OPM) contracted year-on-year to 55.94 percent in June quarter. Interest declined by 1.31 percent y-o-y to Rs 188.00 crore A special offer this week. take 2 days  free trial in Stock Market Tips and MCX Tips

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...

While SIPs have given moderate returns in the last one year, the real opportunity lies in the large-cap, and large-cap and midcap space, with SIPs in select funds even surpassing the returns given by benchmark indices in the same period. The Indian market is going through a rough patch with Nifty wiping off 4.9 percent and Sensex tumbling 4.54 percent in July. The volatility induced by global and domestic headwinds such as economic and consumption slowdown, mounting US-Iran tension, consistent FII selling, unfavorable budget announcements, and sub-par earnings have kept investors at bay. However, experts see the current market scenario as an opportunity to build a long-term portfolio, taking the SIP route. "The existing volatility in the market will likely stabilize in the next 6-8 months as the benefits from the government initiatives will lead to demand growth and in turn lead to economic growth," said Gautam Kalia, Head of Investment Products at Share...

Zee received one binding offer and is expecting another one in the next few days. One offer is from a financial investor & another from a strategic investor, said Credit Suisse Shares of Zee Entertainment Enterprises gained nearly 3 percent intraday on July 24 after strong earnings performance in June quarter (Q1). But global brokerage houses were mixed in opinion as they eagerly await promoter stake sale deal that they expect in next few days. The stock was quoting at Rs 363.45, up to Rs 2.50, or 0.69 percent on the BSE at 1022 hours IST. The media & entertainment company, on July 23, reported a 62.56 percent year-on-year growth in June quarter profit at Rs 530.57 crore and 47 percent growth in domestic subscription revenue in Q1. Total subscription revenue increased 36.7 percent year-on-year to Rs 708.8 crore with domestic subscription business growing 46.7 percent YoY in Q1. Revenue during the quarter grew 13.3 percent driven by the strong performan...

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 company now have a total of 99 ANDA approvals (88 final approvals and 11 tentative approvals) from USFDA. Shares of Alembic Pharmaceuticals gained 2 percent intraday July 23 after the company received approval from the US Food & Drug Administration (USFDA). The company has received tentative approval from the USFDA for its abbreviated new drug application (ANDA) Dapagliflozin tablets, 5 mg, and 10 mg, as per company release on BSE. Dapagliflozin tablets are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus. The company now have a total of 99 ANDA approvals (88 final approvals and 11 tentative approvals) from USFDA. At 10:48 hrs Alembic Pharmaceuticals was quoting at Rs 523, up to Rs 10.90, or 2.13 percent on the BSE. Get a 2 days free trial in Stock Market Tips and MCX Tips  

On July 22, the domestic currency slipped 12 paise to close at 68.91 against the US currency on the back of heavy losses in the domestic equity market and a spike in crude oil prices. The Indian rupee opened lower by 9 paise at 69 per dollar on Tuesday against previous close 68.91. On July 22, the domestic currency slipped 12 paise to close at 68.91 against the US currency on the back of heavy losses in the domestic equity market and a spike in crude oil prices. A special offer this week. take 2 days  free trial in Stock Market Tips and MCX Tips

The net interest income of the company was up 2.6 percent at Rs 1,371.6 crore against Rs 1,337.3 crore. Shares of Oriental Bank of Commerce (OBC) gained 2.5 percent intraday July 22 after the company posted a profit in the quarter ended June 2019 (Q1FY20). The company reported a profit of Rs 112.7 crore against loss of Rs 393.2 crore in a year-ago period. Its gross NPA stood at 12.56% against 12.66%, while net NPA was at 5.91% versus 5.93%, QoQ. The net interest income of the company was up 2.6 percent at Rs 1,371.6 crore against Rs 1,337.3 crore. Provisions for the quarter stood at Rs 842.4 crore versus Rs 1,051.5 crore, QoQ; and versus Rs 1,539.5 crore, YoY. At 14:04 hrs Oriental Bank of Commerce was quoting at Rs 82.65, up to Rs 0.65, or 0.79 percent on the BSE Get a 2 days free trial in Stock Market Tips and MCX Tips  

In the week beginning July 27, the market will first react to RIL and HDFC Bank's results Bears retained their control on Dalal Street for yet another week ended July 19, thanks to heavy selling pressure in last two trading sessions. It dragged benchmark indices to two-month low breaking psychological levels like 11,500 on Nifty and 39,000 on Sensex. Pre-existing factors such as economic and consumption slowdown, consistent FII selling after Finance Minister Nirmala Sitharaman denied to tweak surcharge on the super-rich and relentless asset quality concerns added more fuel to the fire. The BSE Sensex slipped 1.03 percent to 38,337.01 and Nifty50 declined 1.15 percent to 11,419.25 as selling was seen across sectors barring IT (which up 1 percent). The broader markets too were hit badly with the Nifty Midcap and Smallcap indices falling around 4 percent each amid disappointing earnings from some companies. After shedding around 4 percent since the Budget day, th...