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...

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...

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...

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...

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...

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...

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...

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 ...