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...

There were pending sell orders of 2,494,013 shares, with no buyers available Shares of Coffee Day Enterprises shed another 20 percent to hit a 52-week low in the early trade on July 31 after Cafe Coffee Day founder VG Siddhartha body was found near the Netravathi river in Mangaluru. There were pending sell orders of 2,494,013 shares, with no buyers available. The share was locked at 20 percent lower circuit on July 30 after Siddhartha went missing on July 29. Siddhartha was last seen at 6 pm on July 29 when he got off his car. The driver had contacted the family when Siddhartha didn’t return for an over an hour. Also, Read Missing Cafe Coffee Day founder VG Siddhartha dead, body found Siddhartha had written a letter to the board and employees of Coffee Day Enterprises, saying he had "failed as an entrepreneur,". "I fought for a long time but today I gave up," Siddhartha said in the letter dated July 27. At 0922 hours, Coffee Day...

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...

On July 30 the Indian rupee ended 10 paise lower at 68.86 against the US dollar. The Indian rupee opened marginally lower at 68.90 per dollar on Wednesday against previous close 68.86. On July 30 the Indian rupee ended 10 paise lower at 68.86 against the US dollar on the back of rising crude oil prices and heavy selling in domestic equities. The dollar-rupee August contract on the NSE was at 69.05 in the previous session. Open interest increased 23.46% in the previous session, reported 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 

In this episode of Setting Sail, Maheshwari talks about entrepreneurial ventures and why he turned to a social cause when he started his own venture Udhyam. Building the right team for an organization to succeed is extremely important, a visionary leader should have the skills to ensure that a team works in the right direction to achieve its goals. And Mekin Maheshwari, who runs Udhyam -- a nonprofit startup -- is steadily looking at achieving his goal. That of transforming people from non-privileged backgrounds into entrepreneurs. Maheshwari, who was the technology head at the e-tailer, went on to become the chief people officer at Flipkart. He tells Moneycontrol's Priyanka Sahay, how a colleague once joked about his transition as a demotion, after he had moved to an HR role, from being a top tech executive. Maheshwari recalls that Flipkart has managed to become what it is, because of the people who work there. Hence, he stressed that entrepreneurs should thi...

RBI अपने फंड का कितना हिस्सा सरकार को देगी इस बात का फैसला करने के लिए बिमल जालान पैनल का गठन किया गया था। इस पैनल ने कुछ दिनों पहले अपनी आखिरी बैठक की थी। मीडिया में यह खबरें आई कि रिपोर्ट तैयार हो चुकी है। इस रिपोर्ट के मुताबिक अगले 3-5 साल के बीच RBI चरणबद्ध तरीके से सरकार को फंड देगी। हालांकि अब खबर आई है कि फंड ट्रांसफर से पहले जालान कमिटी एक बार और बैठक करने वाला है। बिमल जालान ने बताया, अब एक नया नामित सदस्य आ गया है लिहाजा एक बार फिर बैठक करके पैनल तय करेगा कि कितना फंड ट्रांसफर किया जाए। क्या है मामला? फाइनेंस सेक्रेटरी सुभाष चंद्र गर्ग का ट्रांसफर पावर मिनिस्ट्री में कर दिया गया है। यही वजह है कि पैनल की बैठक दोबारा होगी। गर्ग के ट्रांसफर के बाद सरकार ने अतनु चक्रवर्ती को पैनल में शामिल किया है। हालांकि सरकार ने अभी तक नए फाइनेंस सेक्रेटरी का चयन नहीं किया है। Get a 2 days free trial in Stock Market Tips and MCX Tips 

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...

On July 26 the rupee ended 15 paise higher at 68.89 against the US dollar, snapping its four days of losses following a recovery in the domestic equity market. The Indian rupee opened marginally lower at 68.94 per dollar on Monday against Friday's close 68.90. On July 26 the rupee ended 15 paise higher at 68.89 against the US dollar, snapping its four days of losses following a recovery in the domestic equity market. A special offer this week. take 2 days  free trial in Stock Market Tips and MCX Tips

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...

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

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...

Net interest income grew by 26.8 percent year-on-year to Rs 7,737.43 crore for the quarter ended June 2019, beating analyst expectations. The country's largest private sector lender, ICICI Bank, posted a profit of Rs 1,908 crore in June quarter (Q1) over lower provisioning and healthy NII growth. It was against a loss of Rs 119.55 crore reported in the year-ago period and a profit of Rs 969.06 crore in the previous quarter. The profit was partly impacted by lower other income. Net interest income grew (NII) by 26.8 percent year-on-year to Rs 7,737.43 crore for quarter that ended on June 2019 with healthy loan growth of 15 percent YoY, which beat analyst expectations. NII was expected at Rs 7,427.1 crore, according to a poll of analysts conducted by CNBC-TV18. The year-on-year growth in domestic advances was 18 percent in June 2019. "We continued to leverage strong retail franchise, resulting in a 22 percent year-on-year growth in the retail loan portf...

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  

The stock rallied 13 percent in last 5 sessions, but in last year, it lost 75 percent of value amid rising bad debts and unexpected loss. Shares of Yes Bank rallied 10 percent intraday on July 26 after a media report indicated that global private equity firms TPG Capital and Advent International could infuse fresh capital in the private sector lender. The stock rallied 13 percent in last 5 sessions, but in last year, it lost 75 percent of value amid rising bad debts and unexpected loss. At 1252 hours IST, it was quoting at Rs 93.70, up to Rs 6.05, or 6.90 percent on the BSE. "TPG Capital’s Indian private equity arm and buyout firm Advent International Corporation are among institutional investors that will infuse fresh capital into Yes Bank," Mint said quoting two people directly aware of the ongoing discussions. “TPG and Advent International are the front runners. They will most likely invest around $350 million each," the report added. The rep...

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 ...