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

The stock fell 76 percent in last one year and corrected 77 percent from its 52-week high of Rs 68 touched in August 2018. Hubtown shares fell 14.60 percent to end at its 52-week low of Rs 15.50 on July 30 after media reports indicated that the Income Tax Department conducted a raid on the company. The stock fell 76 percent in last one year and corrected 77 percent from its 52-week high of Rs 68, it touched in August 2018. The Income Tax Department conducted a search on Hubtown and its joint venture and the search is underway, reported CNBC-TV18 quoting unnamed sources. The news came in right before the market closed on July 30. Meanwhile, the company has done some reorganization of its management structure and consequently appointed Sunil Mago as the Chief Financial Officer in place of Nancy Pereira with effect from July 5. "Pereira will be moving to a new role within Hubtown Group," it had said in its BSE filing earlier in July. A special offer...

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...

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 

The category reserved for qualified institutional buyers (QIBs) was subscribed 27 percent, noninstitutional investors 5 percent and retail individual investors 67 percent. The initial public offer of mobile marketing firm Affle India was subscribed 28 percent on the first day of bidding on Monday. The IPO to raise Rs 459 crore, received bids for 9,42,260 shares against the total issue size of 33,78,021 shares as per the NSE data. The category reserved for qualified institutional buyers (QIBs) was subscribed 27 percent, noninstitutional investors 5 percent and retail individual investors 67 percent. Affle India on Friday raised about Rs 206.55 crore from 15 anchor investors. The IPO consists of a fresh issue of Rs 90 crore and an offer for sale of 49,53,020 equity shares including anchor portion of 27,72,483 equity shares. The price range for the offer, which would close on Wednesday, has been fixed at Rs 740-745 per share. ICICI Securities and Nomura Finan...

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  

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...

Cochin Shipyard | MMTC | IFB Agro | Kingfa Science | SPARC | Dalmia Bharat Sugar and DLF are stocks, which are in news today. Axis Bank, Hero MotoCorp, Tech Mahindra, Bank of India, PNB Housing Finance, Piramal Enterprises, Dish TV, New Delhi Television, GRP, Repro India, Sumeet Industries, TCI Express, Chemfab Alkalis, TCI Developers, Andhra Cements, Kalpataru Power Transmission, VIP Industries, Aegis Logistics, Gulf Oil Lubricants, Vinati Organics, Shoppers Stop, Solar Industries, Prism Johnson, United Bank of India, Vaibhav Global, Cholamandalam Investment, NOCIL, PTL Enterprises, Spice Mobility, Balkrishna Paper Mills, Super Spinning Mills, R Systems International, Gujarat Gas, Mangalore Refinery and Petrochemicals, Swaraj Engines, NMDC, RPG Life Sciences, Granules India, Welspun India, HeidelbergCement India, Fertilizers and Chemicals Travancore, Orient Electric, EIH Associated Hotels Dr. Reddy’s Laboratories Q1: Net profit up 45.4% at Rs 663 crore versus Rs 456.1 cr...

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 ...

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...

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 ...

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...

Experts say that double-digit earnings growth could be seen after the September quarter. Sectors like auto and auto ancillaries, consumer discretionary and FMCG will get affected by demand slowdown. We are in the midst of earnings season with some top names which already announced their June quarter numbers. IT majors Infosys and Tata Consultancy Services along with Tata Motors, Bank of Baroda, Hindustan Unilever, Larsen & Toubro and Zee Entertainment have already announced their Q1 numbers. Bank of Baroda, Bajaj Finserv, Bajaj Finance, Asian Paints and Bharti Infratel posted profit growth while Tata Motors disappointed the Street amid fall in JLR sales. “Given all the growth concerns, expectations have already been beaten down and we expect companies to largely deliver in line with consensus,” Vipin Khare, Director of Research – William O'Neil India, told Moneycontrol. We expect the current quarter to be amongst the worst quarters of the past three years ...