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

Tech Mahindra | DHFL | JSW Steel | Gujarat Gas | Alkem Labs | Dish TV | Shoppers Stop and Vinati Organics are stocks which are in the news today. Eicher Motors, Indian Oil Corporation, UPL, Ashok Leyland, Apollo Tyres, NR Agarwal Industries, Star Cement, Symphony, Zee Media Corporation, Allahabad Bank, Future Supply Chain Solutions, JBF Industries, SKM Egg Products, Tanla Solutions, Trent, Digicontent, Uttam Value Steels, MAS Financial Services, Gandhi Special Tubes, Tamilnadu PetroProducts, Shyam Century Ferrous, Maithan Alloys, BF Investment, Indian Energy Exchange, Ajanta Pharma, Kabra Extrusion Technik, Vardhman Special Steels, Indiabulls Ventures, Carborundum Universal, Container Corporation of India, Genus Paper & Boards, Heritage Foods, Blue Dart Express, Motilal Oswal Financial Services, Mahindra Holidays & Resorts India, Creditaccess Grameen, LG Balakrishnan & Bros, Sanwaria Consumer, HCL Infosystems, IndiaMart InterMesh, Sequent Scientific, Expleo Solutions,...

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...

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

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...

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 ...

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

Citi has a buy call on Ambuja Cements with a target price at Rs 290 as Q2 EBITDA per tonne was at 7-year high but pricing trumped volumes. Most brokerage houses were bullish on Ambuja Cements after June quarter earnings, with CLSA upgrading the stock to buy and also raising price target to Rs 265. Strong cement pricing drove EBITDA per tonne to a multi-quarter high despite an 8 percent decline in volumes, the brokerage said. The cement maker reported a 15 percent year-on-year growth in the June quarter (Q1) standalone profit net of dividend at Rs 412 crore, backed by strong operating income. "Ambuja delivers a strong performance in the quarter backed by higher realizations and accelerated cost-saving actions. Despite higher fuel costs, the company did well by optimizing logistics costs, reducing raw material and fixed costs. Cement demand growth was muted in the quarter," Bimlendra Jha, Managing Director, and CEO said. Standalone revenue from operati...

Trends on SGX Nifty indicate a flat opening for the broader index in India, a with 0.50 percent gain. Nifty futures were trading around 11,325.50-level on the Singaporean Exchange. The Nifty50 is expected to open lower on Friday tracking Asian markets which were trading mixed after the European Central Bank held interest rates steady. Overnight, US markets closed lower following a flurry of downbeat quarterly results. European Central Bank chief Mario Draghi’s comments also disappointed investors who were hoping for a more dovish stance on monetary policy, said a Reuters report. Trends on SGX Nifty indicate a flat opening for the broader index in India, a with 0.50 percent gain. Nifty futures were trading around 11,325.50-level on the Singaporean Exchange. Indian markets closed lower for the sixth consecutive day in a row on Thursday. The S&P BSE Sensex fell 16 points to 37,830 while the Nifty50 closed 19 points lower at 11,252. The rupee depreciated by 6 ...

Nomura also maintained a buy call on the stock with a target price at Rs 765 per share. It said the company is the most cost-effective SME advertising platform relative to peers Just Dial shares gained more than 3 percent intraday on July 23 as brokerages maintained their positive stance on the stock after June quarter earnings. The stock was quoting at Rs 735.30, up to Rs 9.25, or 1.27 percent on the BSE at 1036 hours IST. Profit in Q1 shot up 48.3 percent year-on-year to Rs 57.3 crore led by other income, and revenue grew 13.6 percent to Rs 240.2 crore. At the operating level, earnings before interest, tax, depreciation, and amortization increased 12 percent year-on-year to Rs 64.2 crore but margin contracted 45bps, which could be due to IND AS 116 impact. Listing growth was 16.7 percent YoY though it slowed down from 20.7 percent growth in Q1FY19. Paid campaign growth picked up to 13.8 percent in Q1FY20 against 3.9 percent in Q1FY19. While having an ove...

In the week beginning July 27, the market will first react to RIL and HDFC Bank's results Bears retained their control on Dalal Street for yet another week ended July 19, thanks to heavy selling pressure in last two trading sessions. It dragged benchmark indices to two-month low breaking psychological levels like 11,500 on Nifty and 39,000 on Sensex. Pre-existing factors such as economic and consumption slowdown, consistent FII selling after Finance Minister Nirmala Sitharaman denied to tweak surcharge on the super-rich and relentless asset quality concerns added more fuel to the fire. The BSE Sensex slipped 1.03 percent to 38,337.01 and Nifty50 declined 1.15 percent to 11,419.25 as selling was seen across sectors barring IT (which up 1 percent). The broader markets too were hit badly with the Nifty Midcap and Smallcap indices falling around 4 percent each amid disappointing earnings from some companies. After shedding around 4 percent since the Budget day, th...

577 stocks advanced and 1184 declined while 342 remained unchanged on the NSE. On the BSE, 854 stocks advanced, 1516 declined and 166 remained unchanged. Benchmark indices have managed to trade in the green in this afternoon session with Nifty up 33 points at 11,585 while the Sensex gained 158 points and is trading at 38,894 level in this afternoon session. Nifty IT jumped over 2 percent led by Infosys, Tata Consultancy Services, Tech Mahindra and Oracle Financial Services. Pharma stocks are also buzzing, the top performers are Sun Pharma, GSK Pharma, Piramal Enterprises and Cadila Healthcare. However, Aurobindo Pharma is down over 3 percent. Nifty PSU Bank continues to trade lower by over 2 percent dragged by Union Bank of India, Bank of India, Bank of Baroda, Canara Bank, Punjab National Bank, State Bank of India and Indian Bank. Selective infra stocks are trading in the red, the top losers being CG Power, NBCC, NCC, Reliance Power, IRB Infra, BHEL, Bharti A...

Revenue from operations during the quarter increased 7.6 percent to Rs 240.7 crore compared to the corresponding period previous fiscal, the consumer goods company said in its BSE filing Bajaj Consumer Care (erstwhile Bajaj Corp) shares gained 3 percent intraday on July 15 after company's June quarter earnings report. Consolidated net profit grew 8.9 percent to Rs 56.7 crore in June quarter, against Rs 52.1 crore in the same period last year. Revenue from operations during the quarter increased 7.6 percent to Rs 240.7 crore compared to the corresponding period previous fiscal, the consumer goods company said in its BSE filing. At the operating level, consolidated earnings before interest, tax, depreciation, and amortization (EBITDA) rose 0.9 percent to Rs 68.6 crore but margin fell 190 bps to 28.5 percent in Q1 YoY. The stock was quoting at Rs 322.75, up to Rs 4.75, or 1.49 percent on the BSE at 1352 hours IST. A special offer this week. take 2 days  f...