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

The top gainers from NSE include YES Bank, Vedanta, Sun Pharma, Zee Entertainment and Bharti Infratel while the top losers are Bajaj Finserv, HDFC, Bajaj Finance, HDFC Bank and Kotak Mahindra Bank. Benchmark indices are trading in the red following weak Asian cues with Nifty down 71 points at 11,348 while the Sensex plunged 560 points and is trading at 38,337 level. Bank Nifty is down over a percent dragged by HDFC Bank, Kotak Mahindra Bank, RBL Bank, IDFC First Bank, IndusInd Bank, and Federal Bank. However, YES Bank jumped close to 7 percent in this morning session. Realty stocks are also trading in the red, the top losers are Indiabulls Real Estate which tanked over 5 percent followed by Godrej Properties, Prestige Estates, and Sunteck Realty. Selective FMCG stocks are down with Hindustan Unilever, ITC, GSK Consumer, Godrej Industries and Jubilant Foodworks. Nifty Pharma added over a percent led by Aurobindo Pharma, Sun Pharma, Lupin and Cadila Healthcare w...

Aditya Birla Fashion | Brigade Enterprises | Capacite Infraprojects | Tata Metaliks | Automotive Stampings and Greaves Cotton are stocks which are in the news today. Results on July 16: HDFC Asset Management Company, TV18 Broadcast, Network18 Media & Investments, Next Mediaworks, Federal Bank, Agro Tech Foods, DCB Bank, 5Paisa Capital, Jay Bharat Maruti, Vikas Molycorp Automotive Stampings and Assemblies Q1: Loss at Rs 9.5 crore versus loss Rs 5.93 crore; revenue rises to Rs 120.34 crore versus Rs 111.5 crore YoY. Cummins India: Sandeep Sinha resigns as Managing Director w.e.f August 17 Tata Metaliks Q1: Profit declines to Rs 19.62 crore versus Rs 30.39 crore; revenue rises to Rs 499 crore versus Rs 467.54 crore YoY. Brigade Enterprises: Company recommended issue of bonus shares in the ratio of 1:2 and to issue 42.75 lakh warrants convertible into 42.75 lakh shares at Rs 269 per share to the promoter group. Jindal Cotex: Company appointed Kanik Shar...

Den Networks | Eveready Industries | United Breweries | Salzer Electronics and Himachal Futuristic Communications are stocks which are in the news today. Here are stocks that are in the news today: Results on July 12: Infosys, IndusInd Bank, Karnataka Bank, Sangam (India), TRF, Hathway Cable & Datacom, GNA Axles, Infomedia Press, 3i Infotech, Reliance Industrial Infrastructure. KPR Mill: Withdraws Rs 260 crore Buyback plan on 20 percent tax proposal. It informed SEBI that it is unable to go ahead with its share Buyback Issue citing The Union Budget's proposal to tax such transactions at 20 percent DEN Networks Q1: Net profit at Rs 11.2 crore versus loss of Rs 30.7 crore; revenue falls to Rs 313 crore versus Rs 314 crore YoY. Salzer Electronics: Company completed the acquisition of Kaycee Industries (acquired 72.32 percent shares from promoters of Kaycee Industries Ltd). United Breweries: Company appointed Berend Odink as Chief Financial Officer,...

Potential private equity investors may have met lenders and sought comfort on continued funding. Shares of Dewan Housing Finance Corporation fell nearly 9 percent on July 9 even after a media report indicated that the company is likely to present a proposal for a resolution to its lenders on July 11. The stock closed at Rs 70.95 on the BSE. Troubled DHFL is hopeful to raise Rs 7,000 crore via stake sale to a private equity player. Sources told CNBC-TV18 that Aion Capital and Cerberus Capital are likely in the lead to acquire DHFL stake while DHFL itself also remains in talks with Lone Star and KKR for a potential deal. The business channel learned from sources that the housing finance company proposed to bring down promoter stake from 40 percent to 20-25 percent post the deal. Potential private equity investors may have met lenders and sought comfort on continued funding, sources said. Sources further told the channel that DHFL is expected to propose an ex...

MSCI's broadest index of Asia-Pacific shares outside Japan tumbled 0.3 percent, with South Korea's KOSPI off 1 percent and Australian shares down 0.4 percent. Japan's Nikkei faltered 0.6 percent. Asian shares slipped on Monday as investors wagered on a less aggressive policy easing in the United States, while the Turkish lira held near two-week lows after the country’s president dismissed its central bank governor over the weekend. Global equities have generally been bolstered by expectations that central banks will keep interesting rates at or near record lows to boost economic growth. Those expectations were tempered by a US labor report that showed nonfarm payrolls jumped 224,000 in June, beating forecasts for 160,000, in a sign the world’s largest economy still had the fire. Asian shares tracked Wall Street, which fell from record highs on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan tumbled 0.3 percent, with Sou...

Expectations are high from the Budget, given that Prime Minister Narendra Modi came back to power following a bigger mandate than his first term Two days from now, Finance Minister Nirmala Sitharaman will present her maiden budget, becoming only the second woman, after Indira Gandhi, to do so. Expectations are high from the Union Budget 2019-20, given that Prime Minister Narendra Modi came back to power following a bigger mandate than his first term. As such, Sitharaman will have to face a tough balancing act, as she looks to boost growth. The challenges Sitharaman faces are many. Gross domestic product (GDP) growth slumped to a five-year low of 5.8 percent in the January-March quarter, as India lost its tag of the world’s fastest-growing economy to China. Meanwhile, it was officially confirmed that unemployment has touched a 45-year high. The signs are clear that there is a rural slowdown, consumption and demand are suffering and private investment still remains muted. S...

Rakesh Jhunjhunwala had also reduced his cumulative holding in Titan Company from 7.08 percent in December 2018 quarter to 7.04 percent in the March quarter, according to shareholding data Morgan Stanley downgraded Titan Company to Equal-weight from Overweight on July 3 as the risk-to-reward ratio at current levels seems unfavorable. Titan Company is still one of Morgan Stanley’s favorite long-term plays on urban discretionary consumption growth in India. However, following the strong trailing performance, the global investment is reluctant to push multiples beyond current levels. It sees balanced risk-reward at the current stock price, the global investment bank said in a note. The 12-month forward P/E trades at 53x which is at peak level in the last decade and at a 25 percent premium to its 5-year average. After the recent run-up seen in Titan, re-rating of the stock is complete. “The risk-to-reward prompts us to take a breather and await a better entry point,” ...

Brent crude futures were down 39 cents, or 0.6%, at $66.16 per barrel by 0245 GMT. Oil prices eased on Friday in a cautious market, as traders eyed a scheduled meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the G20 summit and next week's OPEC meeting. Brent crude futures were down 39 cents, or 0.6%, at $66.16 per barrel by 0245 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 40 cents, or 0.7%, at $59.03 a barrel. The leaders of the G20 countries meet on Friday and Saturday in Osaka, Japan, but the most anticipated meeting is between Trump and Xi on Saturday. A trade dispute between the world's two biggest economies has weighed on oil prices, fanning fears that slowing economic growth could dent demand for the commodity. "While there are no expectations of a truce between the two parties, it will set the scene for the OPEC meeting a couple of days later," ANZ Bank said in a note. Trump s...

The share price has declined 34 percent in the last year The share price of Zuari Global added more than 4 percent intraday on June 27 as company board approved raising Rs 200 crore. The board of directors of the company at its meeting held on June 26 approved the issuance of rated, listed, redeemable, non-convertible debentures of a tenor not exceeding 3 years for an aggregate consideration not exceeding Rs 200 crore on private placement basis, the company said. At 1234 hours, Zuari Global was quoting at Rs 91.25, up Rs 2.75, or 3.11 percent on the BSE. The share price has declined 34 percent in the last year. The share touched its 52-week high Rs 139.80 and 52-week low Rs 83 on 21 August 2018 and 20 June 2019, respectively. Currently, it is trading 34.73 percent below its 52-week high and 9.94 percent above its 52-week low. For taking 2 days free trial and Stock Market Tips with more than 90% accuracy click here MCX Tips

The risks to achieving its price target could be weaker-than-expected asset quality, CEO succession planning, sharper-than-expected increase in funding costs and/or material moderation in fees. IndusInd Bank shares gained 3 percent intraday on June 18 after global brokerage firm Morgan Stanley resumed rating with the overweight call as valuation is lower after underperformance last year. The stock was quoting at Rs 1,406.10, up to Rs 6.85, or 0.49 percent on the BSE at 15:12 hours IST, but it fell 15 percent in the last 15 days. "Asset quality, funding, and valuation drive our negative view of midsized lenders. But IndusInd is better placed. We project around 26 percent core pre-provision operating profit (PPoP) growth for FY19-21, helped by diversified revenues and merger synergies. Capital/PPoP is strong," the brokerage said. "More importantly, if management executes per its guidance, we see a 20 percent upside risk to earnings, which would also d...

On a week-on-week basis, OI activity is not too emphatic to signify any alteration to original Long-Long Unwinding structure, with heavy PE OI at 11,800 that could act as possible support Nifty and Bank Nifty witnessed volatile swings on either side throughout last week. Nifty spot touched an intraday high of 12,000 and ended the week in red down 0.4 percent. Bank Nifty followed Niftily and was down about 1.45 percent on a week on week basis. Bank Nifty weekly options data depicts the highest Put base at 30,000 that can act as possible support and highest Call OI is placed at 31,000, which can be immediate resistance. Nifty Options data for the weekly expiry shows highest Put OI is placed at 11,800, which can act as vital support while on the upside, aggressive call writing of around ~21.89 lakh shares is seen at 11,900/12,000 which can act as immediate resistance. Over the week, India VIX was down 120 basis point to end at 13.66 indicating low volatility in the m...

We expect markets to consolidate in the range of 11,800-12,100. Any decisive move beyond this range will add further momentum into the prices. After hitting a level of 12,100 last week, Nifty indices failed to confirm the attempted breakout and was seen consolidating in the range of 11,850-12,000 in the last three to four trading sessions. From the derivative front, put writers were seen active in 11,900 put strike (weekly) while marginal call writing was also observed in 12,000 call strike. Now, for the upcoming sessions, we expect Nifty to face broader headwinds around strong resistance area in the zone of 12,050-12,100 which can limit upside. However, on the downside, 11,800 levels will be the key levels to watch out for. Nevertheless, the undertone for the Indian markets will likely remain bullish on the broader front as far as we are trading above 11,550-11,500 levels. But, on a shorter time frame, we expect markets to consolidate in the range of 11,800-1...

The company appointed Subhabrata Ghosh as new Chief Financial Officer with effect from June 7 on the recommendation of the Nomination and Remuneration Committee and the Audit Committee. Linde India shares declined a percent intraday on June 7 after the chief financial officer resigned from his post. "The board has accepted the resignation of Indranil Bagchi as Chief Financial Officer of the company with effect from June 6 in view of the recent and ensuing organizational changes within the Linde Group resulting in a change in his role and responsibilities within Linde plc," the industrial gases company said in its filing. The company appointed Subhabrata Ghosh as new Chief Financial Officer with effect from June 7 on the recommendation of the Nomination and Remuneration Committee and the Audit Committee. The 45-year old Subhabrata Ghosh is a Chartered Accountant and a Bachelor of Science. Its Managing Director Moloy Banerjee also resigned from his pos...

CARE also downgraded the rating on the short-term bank facilities worth Rs 187 crore to 'D' from 'A3' earlier Shares of Eros International Media were locked in the 20 percent lower circuit at Rs 53.10 on June 6 after rating agency CARE downgraded the rating on its bank facilities. Add caption The company in its June 5 filing said CARE revised its rating on company's long-term bank facilities (term loan Rs 300 crore and cash credit of Rs 263 crore) down to 'D' from 'BBB-' each while keeping the outlook stable. The agency also downgraded the rating on its short-term bank facilities worth Rs 187 crore to 'D' from 'A3' earlier. In a clarification note on June 6, Eros said the rating 'D' is on account of a delay in servicing of bank loans for April and May, which will be cleared within the next seven working days. The company further clarified that its utilization is less than Rs 550 crore as compared to R...