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...

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 

According to Narnolia Securities, the loan book is expected to grow by 17 percent YoY with healthy all-round growth across the segment. Axis Bank, India's fourth-largest private sector lender by market capitalization, is expected to report healthy numbers for June quarter (Q1) on July 30. The earnings result will be closely watched by the Dalal Street especially after its closest peer ICICI Bank reported better-than-expected earnings on all fronts. Most brokerages expect more than two-fold increase in its Q1FY20 profit on lower provisioning and stable operational income YoY. They also expect double-digit growth in NII and the loan book, compared to year-ago, with stable asset quality. "Traction in advances is seen improving 15 percent YoY led by a focus on high yielding retail and MSME loans. A decline in G-Sec yield is expected to aid trading income leading to a positive impact on PAT. PAT is seen at Rs 1,725 crore on the back of stable operational performan...

There were pending sell orders of 2,124,708 shares, with no buyers available. Shares of Coffee Day Enterprises shed 20 percent in the early trade on July 30 after Cafe Coffee Day founder VG Siddhartha was reported missing since the night of July 29. The police said it has begun search operations. There were pending sell orders of 2,124,708 shares, with no buyers available. The share has touched a 52-week low of Rs 154.05. Siddhartha got off his car at a bridge near the Nethravati River, near Mangaluru. The driver alerted family members after he didn't return for an hour. The driver said Siddhartha was on a phone call when he got off the car. Helicopters and Coast Guard have been called for search operations, News18 has reported. The Dakshina Kannada police have launched a search near the Nethravati River. 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...

The strength of a stock is determined by how clear investors are on the outlook of the company to which it belongs. ICICI Bank Ltd gets top marks on this as the lender not only reported improvement in asset quality but also gave a clear outlook. The private sector lender swung to profit in the June quarter because it didn’t need to make big provisions as the toxic level of its loan book reduced and core income improved. The stock gained more than 3% on Monday as a reward from investors to an all-round improvement in asset quality metrics in the June quarter. The lender also beefed up its provision coverage ratio. That means, ICICI Bank is safe even if stress increases or recoveries from bankruptcy proceedings disappoint. The private sector lender has guided that credit costs may not worsen from here on and the pace of slippage would be contained. Slippages for the June quarter were down over 30% from the year-ago period. Brokerage firm Jefferies India Pv...

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...

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...

Brent crude futures were up 23 cents, or 0.4 percent, at $63.23 a barrel by 0054 GMT. Oil prices fell on July 29 after Iran described emergency talks on a multi-party nuclear agreement with a group of signatories as "constructive", suggesting an easing of tensions in the Middle East. Brent crude futures were up 23 cents, or 0.4%, at $63.23 a barrel by 0054 GMT. Prices rose 1.6% last week. US West Texas Intermediate crude was down by 12 cents, or 0.2%, at $56.08 a barrel. WTI gained 1% last week. An emergency meeting with parties to Iran's 2015 nuclear deal was constructive but there are unresolved issues and Tehran will continue to reduce its nuclear commitments if Europeans fail to salvage the pact, Iranian official Abbas Araqchi said on Sunday. "The atmosphere was constructive. Discussions were good. I cannot say that we resolved everything, I can say there are lots of commitments," Araqchi, the senior Iranian nuclear negotiator, told...

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...

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

Financial markets are certainly encountering challenging times, characterized by slower global growth and rising protectionism. Sluggish economic growth and lower inflationary expectations have yet again compelled central banks to contemplate at another monetary easing in the form of rate cuts and asset purchases. Absurdly low-interest rates (read negative bond yields) raise a serious question on how the financial system in advanced economies will protect savings of the households. To wit, sovereign Yields across the globe have moved south, with the value of negative-yielding bonds in the developed world close to $13 trillion, when compared with $8.3 trillion at the beginning of this year. Around half of Euro sovereign bonds are now trading in negative territory. Despite the prevalence of low interest rates and accommodative central banks for the last ten years, the deep-rooted problem of low inflation and tepid growth remains unresolved. With signs of deceleratio...

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...

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...