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...

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 the Simply Save podcast, Moneycontrol's Personal Finance Editor Kayezad Adajania gets in conversation with debt market expert Joydeep Sen to get answers for questions that are troubling investors. Numerous investors are worried that their debt fund investments could be at risk due to the NBFC crisis. Many are unsure whether they should take the crisis as an opportunity and invest further or pull out their money before it’s too late. If you're sailing in the same boat, here's help at hand. In this episode of the Simply Save podcast, Moneycontrol's Personal Finance Editor Kayezad Adajania gets in conversation with debt market expert Joydeep Sen to get answers for questions that are troubling investors. A special offer this week. take 2 days  free trial in Stock Market Tips and MCX Tips

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...

Tech Mahindra Ltd’s shares had underperformed the market after its revenue growth fell sharply in the March quarter. Profit margins narrowed at a higher-than-expected pace as well, raising concerns about its earnings. The June quarter results, released after market hours on Tuesday, provide no major reason to alter the stock’s trajectory. Dollar revenues grew just 1.9% year-on-year and fell 1.6% compared to the March quarter. “In the current quarter, the company faces seasonality, however, even after factoring the seasonality, Tech Mahindra’s revenues were below our expectation," ICICI Direct Research said in a note. Worse still, the fall in profitability was far higher than Street expectations. Ebit (earnings before interest and tax) margins contracted 1.5 percentage points from a year ago. As a consequence, operating earnings (Ebit) in dollar terms dropped 9% from a year ago. Sequentially, they are down as much as 26%. “Margins are way below estimates leaving r...

On July 29 the Indian rupee has recovered from the low and ended 14 paise higher at 68.73 against the US currency amid easing crude oil prices. The Indian rupee opened flat at 68.75  per dollar on Tuesday versus previous close 68.73. On July 29 the Indian rupee has recovered from the low and ended 14 paise higher at 68.73 against the US currency amid easing crude oil prices. A special offer this week. take 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...

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...

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...

Considering Friday’s action, a possibility of some relief in the forthcoming week cannot be ruled out. In this scenario, 11,350 – 11,450 can be retested Market participants were completely dejected with the Budget, and this clearly reflected in the price action thereafter in the week gone by. The overall chart structure looks distorted and hence, till the time we are below 11,550 – 11,700, the bears remain in the dominating position. As far as supports are concerned, 11,200 seems to have earned some respect and below which we can see a sheet anchor support of ‘200-day SMA’ which now coincides with May's low of 11,108.30. Considering the action on July 26, a possibility of some relief in the forthcoming week cannot be ruled out. In this scenario, 11,350 – 11,450 can be retested. But, as highlighted above, one needs to be agile and should probably take some profit off the table at least on momentum trades. In the forthcoming week, we expect stock-specifi...

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...

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

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...

Maruti Suzuki | Allahabad Bank | Future Lifestyle Fashions | ICICI Bank | Power Mech Projects | Manpasand Beverages and Usha Martin are stocks which are in news today. Dr Reddy’s Laboratories, DLF, IRB InvIT Fund, Supreme Industries, IFB Agro Industries, Bank of Maharashtra, General Insurance Corporation of India, Navin Fluorine International, Kingfa Science & Technology (India), Sanofi India, Bharat Electronics, Orient Cement, GHCL, Lloyds Steels Industries, India Grid Trust, Gokaldas Exports, Adroit Infotech, Sun Pharma Advanced Research Company, Century Enka, JMC Projects (India), Castrol India, Dalmia Bharat Sugar, Shriram City Union Finance, Chennai Petroleum Corporation, Kansai Nerolac Paints, Rane Engine Valve, Transport Corporation of India, Alembic Pharmaceuticals, Tata Sponge Iron, Cochin Shipyard, Shalby, AYM Syntex, Strides Pharma Science, V2 Retail, Valecha Engineering, Indian Card Clothing Company, EID Parry India, KPR Mill, Muthoot Capital Services Unic...

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...