Nifty below 11,300, Sensex down 200 points; PSU banks, metal, auto drag

The project includes construction of roadbed, viaduct, major and minor bridges, RUBs, ROBs, track linking and general electrical works at both the approaches of rail cum road bridge at Ghazipur in connection with construction of new BG Line from Mau to Tarighat in Varanasi division of NE Railway and Danapur division of EC Railway in Uttar Pradesh.

The 38th annual general meeting of the company will be held on August 21, 2018. The benchmark indices extended their fall after lower opening. The Nifty slipped below 11,300 mark and Sensex also down over 200 points trading at 37,269.

Among the sectors, metal, PSU bank and auto are down over 1 percent.

Vedanta, Yes Bank, Tata Steel, Tata Motors, Maruti Suzuki are the top losers on the Sensex.Shares of carbon and graphite product manufacturing company HEG rallied as much as 5 percent in the morning to hit a fresh record high of Rs 4,559.80 on Thursday after reporting stellar performance for the quarter ended June 2018.Revenue from operations during the quarter grew by 673 percent to Rs 1,587 crore compared to Rs 205.35 crore in corresponding period last year. The sequential growth in revenue was 23 percent.

Read more--Stocks update

Tata Motors, RIL, Apollo Tyres, Power Grid, HPCL, Orient Refractories

 Apollo Tyres, Emami, Exide Industries, Pidilite Industries, Tata Global Beverage, Torrent Power, Reliance Infrastructure, Aditya Birla Fashion, Astec Lifesciences, Ballarpur Industries, FDC, Gravita India, HEG, HFCL, Jayshree Tea, Jindal saw, Navneet Education, Orient Cement, Orient Paper, Poly Medicure, Repro India, TCI express, TPL Plastech, Triveni Engineering, V2 Retail, Zuari Agro Chemicals, Gateway Distriparks.

Indian Railways awards around 1 lakh tonne order for supply of rails.Q1 consolidated loss at Rs 1,863 crore versus adjusted loss of Rs 438 crore; revenue rises 14.7 percent to Rs 67,081 crore versus Rs 58,493 crore; JLR net loss at 210 million pound while standalone profit at Rs 1,188 crore versus loss of Rs 463 crore (YoY).Q1 consolidated profit rises 0.7 percent to Rs 2,248 crore versus Rs 2,233 crore; revenue jumps 21.4 percent to Rs 22,206 crore versus Rs 18,285 crore (YoY).Q1 profit jumps to Rs 24.4 crore versus Rs 0.7 crore; revenue increases 7.7 percent to Rs 1,627 crore versus Rs 1,510 crore (YoY).

Read more--Stocks update

Looking to build a crorepati portfolio. Allocate 70% towards equities, balance in gold and bonds

The market might have hit fresh record highs in July, but individual investors’ portfolio be it stocks or mutual funds might not be showing similar optimism.

Momentum in markets is largely driven by a handful of stocks, which capped upside for most investor portfolios, as the broader market is still reeling under pressure.

A strong liquidity wave, which took small and midcaps to record highs in 2017, receded in 2018 as most investors preferred to book profits. The broader market was also hit by regulatory challenges as well as high valuations. A well-diversified portfolio would have minimised losses for investors, experts said. There is still time for investors to rework their portfolio to achieve their crorepati dream, even though benchmark indices might be hitting record highs on a daily basis“Most investors are upset that their portfolio value is not rising in sync with the Nifty. This is because they wanted alpha (higher than index or market return) like in previous bull runs and had most of their capital in small and midcaps based on hearsay or tips,” Deepak Jasani, Head – Retail Research, HDFC Securities, said.

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Sensex at a fresh record high, Nifty hits 11,300 for first time; ICICI Bank, BoB surge

Women's apparel maker TCNS Clothing started off the first session on a tepid note, opening flat at around issue price of Rs 716 and then slipped in to red with a percent loss.

The 1,125-crore initial public offer had received good response from institutional investors, subscribing 5.25 times during July 18-20.

The offer received bids for 5,79,79,780 equity shares against the total issue size of 1,09,99,828 shares.Benchmarks are marginally off their high points, but have continued to be in the green. The Nifty is hovering around 11,300.

The Sensex is up 70.51 points or 0.19% at 37407.36, and the Nifty up 15.90 points or 0.14% at 11294.30. The market breadth is positive as 1,284 shares advanced, against a decline of 575 shares, while 107 shares were unchanged.Shares of Bank of Baroda soared almost 8 percent on Monday morning as investors cheered its strong results for the June quarter.

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Market opens at fresh high, Nifty surpasses 11,200 for the first time, ITC leads the charge

Shares of ITC gained over 5 percent on Friday morning as investors cheered the company's strong financial results for the June quarter. 

Cigarette-to-soap maker ITC reported 10.08 percent year-on-year (YoY) increase in net profit at Rs 2,819 crore for the first quarter of FY19.

The rise in the bottom line was driven by growth in its non-cigarette businesses on the back of a favourable base and improved realisations from cigarettes.

During the review period, net sales stood at Rs 10,874 crore, up 9.20 percent on year, while earnings before interest, tax, depreciation, and amortisation (EBITDA) for the first quarter stood at Rs 4202.1 crore. EBITDA margin was 39.3 percent for the quarter.It’s a strong start to the market on Friday morning, with the Sensex and Nifty opening at a fresh record high and crossing 11,200 for the first time. 

Read more--Stocks update

Sensex hits 37,000 for first time, Nifty hits a fresh record high

Shares of Larsen & Toubro (L&T) rose 2 percent in the opening trade on Thursday on the back of robust numbers declared by the company in the quarter ended June 2018 (Q1FY19).

The company posted a 13.8 percent year-on-year (YoY) increase in consolidated net profit at Rs 1,213 crore, beating analyst estimates driven by order inflow

growth in infrastructure, heavy engineering and hydrocarbon segments.

Profit for the same period last year was Rs 1,065.54 crore. The Q1FY19 profit was aided by one-off gain of Rs 355 crore from divestment of Kattupalli port to Adani group.Benchmark indices have made a flat start on Thursday morning, with the Sensex hitting a fresh record high, but the Nifty is still a few points away from the fresh record high. 

The Sensex is up 43.42 points or 0.12% at 36901.65, while the Nifty is up 9.50 points or 0.09% at 11141.50. The market breadth is positive as 313 shares advanced, against a decline of 131 shares, while 37 shares are unchanged.

Read more--Stocks update

Symphony plummets 19% after Q1 net profit falls 49% to Rs 20 crore

Shares of Symphony touched 52-week low of Rs 1,132.20, down 19 percent in the opening trade on Wednesday on the back of poor June quarter numbers.

The company's Q1FY19 net profit fell 49 percent to Rs 20 crore versus Rs 39 crore in the same quarter last fiscal.

Revenue of the company slipped 23.2 percent to Rs 146 crore versus Rs 190 crore.

The company declared first interim dividend of Re 1 (50 percent) per equity share having face value of Rs 2 each for the financial year 2018-19.

The dividend shall be payable on or before August 20, 2018.

The company's 31st annual general meeting of members of the company will be held on August 31, 2018

At 09:19 hrs Symphony was quoting at Rs 1,157.95, down Rs 245.70, or 17.50 percent on the BSE.

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Sensex extends gains after hitting record high, Nifty above 11,100; ACC soars 13%

Shares of Delta Corp added 5 percent intraday Tuesday on the back of strong June quarter numbers.

The company's Q1 net profit surged 52 percent to Rs 28.61 crore versus Rs 18.81 crore in the same quarter last fiscal.

Revenue rose 36.7 percent to Rs 109.91 crore versus Rs 80.36 crore.Shares of ACC gained around 13 percent on Tuesday morning as investors cheered the company’s results.

The stock touched an intraday high of Rs 1,468.00 and an intraday low of Rs 1,395.10.

The company posted a higher-than-expected 1.2 percent rise in second-quarter profit on Monday, helped by a fall in expenses.

Standalone profit was Rs 326 crore ($47.4 million) for the quarter ended June 30, compared with Rs 322 crore a year earlier, the Mumbai-based company said in a statement. Equity benchmarks have looked to continue their momentum from Monday, with the Sensex opening at a record high, while the Nifty has opened above 11,100.

Read more--Stocks update

HDFC Bank, ACC, United Spirits, UPL, Cadila, Wipro, Bat

 United Spirits, L&T Infotech, ACC, L&T Technology Services, ICICI Securities, Vijaya Bank, Tejas network, V-Mart Retail, Welspun Corp, Saregama India, Delta Corp, Balaji Amines, Granules India, Greenlam Industries, Hindustan Oil Exploration, Hindustan Zinc, Indianbulls Ventures, Lakshmi Machine Works, Linde India, Alicon Castalloy, Rane Engine Valve.Q1 It services rupee revenue rises 2.1 percent at Rs 13,700 crore versus Rs 13,412 crore; EBIT gains 24 percent at Rs 2,397 crore versus Rs 1,932.3 crore; EBIT margin expands to 17.5 percent versus 14.4 percent; Dollar revenue down 1.7 percent at $2,026.5 million versus $2,062 million (QoQ).

Read more--Stocks update

HDFC Bank Q1 Preview: PAT seen rising 23% on stable asset quality, interest income

HDFC Bank, the country's largest private sector lender, is expected to post a 23 percent rise in its June quarter net profit to Rs 4,785.3 crore on stable asset quality and interest income, according to a Reuters poll of analysts.

The bank will declare its results for the quarter on Saturday. It had reported a standalone profit after tax of Rs 3,893.8 crore for the corresponding quarter last year.

Net interest income (NII), the difference between interest earned and interest expended, is seen growing 19.2 percent year on year to Rs 11,167.4 crore, according to the Reuters poll.

Brokerages have said the bank's NII will likely rise 15-20 percent, and that it could also report a higher other-income number."We expect 20 percent YoY growth in advances along with stable net interest margin (NIMs). Non-interest income should be healthy, growing 21 percent YoY. We expect elevated provisioning to continue (as has been the trend since last 5 quarters). Deposits are expected to continue to show strong traction," KR Choksey said in a report.

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Wipro, Bajaj Auto, JSW Steel, Hindalco, Alembic Pharma, JK Paper, Fortis

 Wipro, Bajaj Auto, Atul, Bata, MCX India, Ceat, Havells, Nelco, HDFC Standard Life Insurance Company, Zee Media Corporation, Just Dial, L&T Finance

Results on Saturday: HDFC Bank, Reliance Power, South Indian Bank.

Bajaj Finserv: Q1 consolidated profit rises 41 percent to Rs 825 crore versus Rs 585 crore; revenue increases 39 percent at Rs 3,943.6 crore versus Rs 2,839 crore (YoY).Jain Irrigation bags India's largest major irrigation project worth Rs 975 crore

Hatsun Agro Product: Q1 profit rises to Rs 37.85 crore versus Rs 35.18 crore; revenue increases to Rs 1,235.67 crore versus Rs 1,168.73 crore (YoY).

Infosys expands its global network of Digital Studios, announces the opening of a new studio in Berlin. Company proposes to set up a dairy manufacturing plant in Maharashtra and has identified the location for construction of the Plant. The installation of the dairy plant is expected to be commissioned before the end of December 2019.

Read more--Stocks update

Kotak Mahindra Bank, Rel Comm, JP Associates, Cadila, Fortis, JK Tyre

Kotak Mahindra Bank, ABB, DB Corp, RBL Bank, Sterlite Technologies, Omax Autos, Hatsun Agro Product, Bajaj Finance, Bajaj Finserv

GHCL: The company reported a profit after tax (PAT) of Rs 62 crore for the quarter that ended in June

ITC Global Holdings Pte, Singapore ceased to be a subsidiary of ITC.Jaiprakash Associates: Rakesh Jhunjhunwala raised his stake to 1.98 percent during the June quarter on a fully diluted basis, according to BSE filings.

Fortis Healthcare: Delhi HC has refused to stay finalization of Fortis-IHH deal

Corporation Bank board meeting on July 21 to consider raising of capital of the bank by way of preferential allotment of equity shares to Government of India

Mindtree: Its Q1 net profit is down 13% sequentially at Rs 158 crore.

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TCNS Clothing IPO opens

The Rs 1,125-crore initial public offering of TCNS Clothing has opened for subscription on Wednesday, with a price band of Rs 714-716 per share.

The initial public offering of 1,57,14,038 equity shares comprises an offer for sale by Onkar Singh Pasricha, Arvinder Singh Pasricha (promoters), Anant Kumar Daga, Saranpreet Pasricha, Angad Pasricha, Vijay Kumar Misra and Amit Chand (other selling shareholders) and Wagner (investor). The company will not receive funds from the issue.

The issue, which will constitute up to 25.63 percent of the post-offer paid-up equity share capital, will close on July 20. Bids can be made for a minimum lot of 20 equity shares and in multiples of 20 equity shares thereafter.

On Tuesday, the day before issue opened, the women's apparel maker raised over Rs 337.54 crore by alloting 47,14,210 equity shares to 18 anchor investors at higher end of price band.Stocks update

7 stocks that brokerages initiated coverage on in July can return up to 40%

July has been outstanding for the market as the Sensex hit a fresh record high of 36,740.07 and the Nifty reclaimed the psychological 11,000-mark for the first time since February 1. Hopes of a recovery in June quarter earnings and stability in the rupee-dollar and crude oil prices propelled the market higher.

The earnings season started last week on a positive note as Tata Consultancy Services and IndusInd Bank reported a healthy set of earnings while Infosys met analyst expectations. Even Hindustan Unilever reported a robust set of numbers, though partly on a low base.

The Sensex started off the week in the negative, falling more than 200 points, which was largely due to profit booking in stocks that led the market higher last week.

That does not mean bulls are off track. The current correction was part of the bull run and was largely due to carnage in mid- and smallcaps. The Nifty may reclaim its earlier record high of 11,171 seen in January, though in the short term it may be rangebound, experts said.

Read more--Stocks update

Positive momentum in market to continue; 4 midcaps, 1 largecap that can return 14-20%

Continuing its gaining spree, the Sensex hit an all-time intraday high of 36,740 levels on Friday. After a back to back upswing, some consolidation at upper levels will be healthy sign for bulls. The Nifty needs to hold above its support of 10,880 to gaining momentum further on the higher side.

The relative strength index (RSI) is trading near 66 levels, which indicates positive momentum and support for the bullish rally. The Bollinger Band reveals that a bullish breakout occurred on July 10, which justifies the volatile movement further.

The Nifty closed above its 20-day daily moving average (10,790), which notifies strength and a positive tone. Although majority of the oscillators are in the overbought zone, the stochastic is around 90. At the same time, the commodity channel index (CCI) indicator is around 172 levels. Any dip shall be considered as an opportunity to go long.

Read more--Stocks update

Top 3 buy positional ideas that could return 7-9%

It has been a splendid week for Indian equity markets index-wise. The Sensex hit a fresh lifetime high on Thursday while the Nifty, as well as Bank Nifty, are close to their respective lifetime peaks.

On the other hand, pain in the midcap and smallcap space is prolonging. The Nifty has broken out from the Cup and Handle pattern on the weekly chart. This indicates a continuation of its previous primary trend which was on the higher side.

A close above 10,930 has confirmed a breakout. If the same unfolds the way it should, then the Nifty is likely to rally another 300 points. This would help it break past its previous all-time highs.

Read more--Stocks update

Sensex opens at record high, Nifty reclaims 11,000; midcaps trade strong

Shares of Coffee Day Enterprises, the operator of Café Coffee Day, gained around 3 percent in morning trade after its subsidiary tied up with UberEats to distribute food products.

The stock has touched an intraday high of Rs 271.90 and an intraday low of Rs 267.15.

Material subsidiary of the firm, Coffee Day Global, entered into an agreement with UBER Portier.B.V, wherein the firm is partnering with Uber to obtain tech services through UberEats mobile app to distribute food products. This may help to augment the retail sale, the company said in a filing to exchanges.

Read more--Stocks update

Stocks in the news: TCS, Axis Bank, KEC International, IDBI Bank, HFCL, PNB Housing

TCS: Net profit up 6.3 percent at Rs 7,340 crore versus Rs 6,904 crore; revenue up 6.8 percent at Rs 34,261 crore versus Rs 32,075 crore (QoQ). Constant currency revenue growth at 4.1 percent and Dollar revenue up 1.6 percent at $5,051 million.

Axis Bank: Board recommends names of 3 candidates for the position of MD & CEO. The candidate, as approved by the RBI, will succeed Shikha Sharma whose term as MD & CEO is due to expire on December 31, 2018.

PNB Housing Finance: PNB & Carlyle Group to sell at least 51 percent stake in company to potential acquirers. PNB owns 32.79 percent & Carlyle Group 32.36 percent in the company.

Andhra Bank: Board approves raising of equity via preferential issue, QIP & FPO

NCLT nod for merger of Airtel, Bharti Digital Networks

IDBI Bank: LIC-IDBI Bank deal may trigger an open offer. LIC has not approached SEBI yet for an exemption on open offer. Preferential allotment of shares to LIC may also be possible, reports CNBC-TV18 quoting government official.

Read more--Stocks update

Stock Picks of the Day: Top 3 stocks that could offer 6-13% return

The Nifty gained 80 points on Monday to close at 10,853, its highest closing since June 13. It also managed to close above its crucial resistance level of 10,800, derived from the downward sloping trend line adjoining the all-time high of 11,171 (January 29) and the intermediate top of 10,929 (May 15), indicating a bullish trend reversal.

The index is comfortably trading above its 20, 50, 100 and 200-day daily moving average, which indicates that the trend is bullish for the short to medium term.

As far as supports are concerned, immediate support is seen at 10,700, followed by far one at 10,550.By closing above the 26,600 mark, the Bank Nifty has given a bullish breakout on Monday from the downward sloping trend line, adjoining the high of May 31 and June 22. The next resistance is placed around 27,050 levels.

Read more--Stocks update

Apollo Hospitals, Berger Paints, Varroc Engg, Quess Corp, Welspun Enterprises

India Infoline Finance raising Rs 325 crore from CDC Group (A UK Govt-owned development finance institution) via rupee denominated Tier II bonds.

Umang Dairies: ICRA has reaffirmed the long term rating of BBB- assigned earlier to the Rs 34 crore line of credit of the company and has also assigned a long-term rating of BBB- to the additional limit of Rs 17 crore. The outlook on the long term rating is stable.

Talwalkars Better Value Fitness: Company made investment in company in India - Zorba Renaissance Private Limited, which is registered with the Registrar of Companies, Chennai.

Varroc Engineering to make stock market debut on July 06

Goldcrest Corporation: Company has fixed July 17 as record date to determine the equity shareholder(s)/eligible equity shareholder(s) of the company who shall be eligible to participate in the buy-back offer.

Read more--Stocks update

Future Lifestyle, Vijaya Bank, JP Associates, Biocon, Seamec, Va Tech Wabag

ICICI Bank: Bank aims to grow home loan book to Rs 2 trillion by FY20

Va Tech Wabag board meeting on July 9 to consider fund raising proposal

JP Associates: Supreme Court asks  to deposit at least Rs 650 cr for refund of principal amount to home buyers

Yes Bank: Bank receives SEBI approval to launch mutual fund business

Biocon: Receives EU GMP Certification For Its Sterile Drug Product Mfg Facility In Bangalore

Essar Oil: UK revenues rise 10.2 percent in FY18

Force Motors' total June production at 2484 units, domestic sales at 2545 units and exports at 124 units

Federal Bank reappoints Ganesh Sankaran as executive director

Future Lifestyle to acquire up to 29.9% of Koovs

FIEM Industries signed technical assistance agreement with TOYODENSO Co., Japan and Toyota Tsusho Corporation, Japan for manufacturing of bank angle sensor for motorcycles for Indian market

Vijaya Bank hikes lending rates by up to 50 bps

Yes Bank to foray into mutual fund biz, gets Sebi nod

DCM Shriram bought back 54,875 shares at Rs 303.21 on July 4

Tech Mahindra to set up Blockchain centre within R&D arm

Religare Finvest filed application against Bharat Road Network under IBC claiming a default of Rs 51.30 crore.

Read more--Stocks update

Market nervous ahead of Q1 earnings; 3 stocks that could offer 7-13% return

The Nifty ended Tuesday’s trading session with a subtle gain of around half a percent at 10,699.90 due to global cues. The market remained rangebound throughout the day as traders remained cautious ahead of Q1 earnings beginning next week.

The index continues to oscillate back and forth in a broader range. The upper end of the range is placed around 10,850 levels while the lower end is positioned at 10,550.

If the Nifty manages to breach 10,850 levels on the upper side on a closing basis, then it can resume the uptrend, taking it to higher levels of 10,930 and 11,014. However, a trade below 10,550 can trigger a correction to 10,440 and 10,360 levels.

Read more--Stocks update

Indian rupee opens lower by 9 paise at 68.89 per dollar

The Indian rupee opened lower by 9 paise at 68.89 per dollar on Tuesday.

Yesterday rupee closed near five-year low at 68.80 per dollar. It ended lower by 33 paise against Friday's close 68.47 .

This is the level last seen on August 28, 2013.

Yesterday rupee gained in the first half of the session but came under pressure in the latter half of the session following strength in the dollar against its major crosses and higher global crude oil prices. Yesterday, crude rallied after Libya declared force majeure on some of its supplies, although an overall rise in OPEC output and an emerging slowdown in demand held back markets, said Motilal Oswal.

Libya’s National Oil Corporation declared force majeure on loadings from Zueitina and Hariga ports, resulting in total production losses of 850,000 bpd due to the closure of eastern fields and ports. Today, USD-INR pair is expected to quote in the range of 68.80 and 69.30, it added.

Read more--Stocks update

Stock Picks of the Day: Top 3 trading ideas that could return 4-10%

In the week gone by, the equity market witnessed volatile trade on the back of rising crude oil prices, rupee devaluation and weak global triggers.

The Nifty ended the June series on a weak note as it fell sharply below 10,600 levels. It touched an intraday low of 10,571 and made a lower-band on a weekly basis.

On Friday, the Nifty witnessed buying throughout the day and managed to close above 10,700 levels led by FMCG and metal companies. The index recouped about 125 points on an intraday basis to close above its 10-day exponential moving average of 10,714.30, but down about a percent on a weekly basis.

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IMF suggests India three steps to sustain high growth rate

To sustain the high growth rate India has achieved, the country should carry out banking sector reforms; continue with fiscal consolidation, simplify and streamline GST; and renew impetus on reforms, the International Monetary Fund (IMF) said today.

India's growth accelerated to 7.7 per cent in the fourth quarter of Financial Year (FY) 2017-18. That was up from 7 per cent in the previous quarter.

"We expect the recovery to continue in FY 2018-19. Growth is projected at 7.4 per cent in FY 2018-19 and actually 7.8 percent in FY 19-20, respectively," IMF Communications Director Gerry Rice told reporters at his fortnightly news conference.

Read more--Stocks update

Tata Steel, SBI, 63 Moons, Relaxo Footwears, Exide Industries

CEO Marathe granted bail in DS Kulkarni case

Tata Steel: Thyssenkrupp nears JV compromise deal with Tata Steel, say sources

Bank of Maharashtra clarified on exposure to DS Kulkarni Developers of Rs 96cr

Relaxo Footwears: Company looks for retail push to bridge gap with Bata India

Udaipur Cement Works board meeting on June 30 to consider issue of non-convertible debenture upto Rs 200 crore

Karnataka Bank raised interest rates on its domestic and NRE rupee term deposits by 10 basis points

Swiss-based co Leclanche, Exide Industries to form joint venture

Allahabad Bank to raise up to Rs 1,900 crore

Canara Bank to raise about Rs 1,000 cr through employee stock purchase scheme.

Read more--Stocks update

Top 3 picks which could give 12-13% return

The Nifty50 consolidated in a range of 10,700-10,800 as bulls and bears both tried to take control over the market which in turn added intraday volatility.

As we are moving towards expiry of June series future and options contract, the range of 10,700-10,800 will remain crucial as Put writers are holding and actively adding Open Interest (OI) in 10,700 strikes while call writers at 10,800 strikes are keeping the gains under check.

Going forward, we believe that any decisive break and closing in Nifty index whether above 10,800 or below 10,700 will gauge further direction in the price movement.

Read more--Stocks update

Top 5 trading strategies that may return 7-11% by July

Domestic equity markets got off to a negative start to F&O expiry week, amid trade war concerns. The Nifty lost 0.6 percent to close at 10,753 on Monday.

The market breadth was in favour of declines with two share declining for every one gaining. After Friday’s rally, the market failed to show follow through action on the upside.

The index has been facing resistance at the falling resistance trend line connecting the highs of 11,172 and 10,929 levels. It faces resistance at 10,835-10,860 levels and needs to clear this hurdle which will confirm strength on the upside. On the downside, 10,700 levels is now critical support level from where buying emerged last week.

Read more--Stocks update