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.

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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.

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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.

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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.

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Top buy & sell ideas by Sudarshan Sukhani, Prakash Gaba & Rajat Bose for short term

The Nifty50 after opening at 10,742.70 traded lower in the morning to hit day's low of 10,710.45, but recouped all those losses in afternoon and then turned strong in the last hour of trade to hit an intraday high of 10,837. It ended at 10,821.90, higher by 80.80 points from the last close.

The Nifty is few points away from 10,850, the crucial level for bulls to gain strength and move towards earlier record high, experts said.

According to Pivot charts, the key support level is placed at 10,742.53, followed by 10,663.27. If the index starts moving upwards, key resistance levels to watch out are 10,869.03 and 10,916.27.

The Nifty Bank index closed at 26,766.8 on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 26,485.13, followed by 26,203.46. On the upside, key resistance levels are placed at 26,927.53, followed by 27,088.27.

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Rupee gains 19 paise, global dollar weakness helps

The rupee firmed up by 19 paise to 67.79 against the dollar today after increased selling of the US currency by exporters and banks.

The dollar slipping from an 11-month peak against other currencies overseas as investors took profits also helped the rupee.

Further, fresh foreign capital inflows took the local currency higher but a lower opening of the domestic equity markets capped the rise, dealers said.Yesterday, the rupee had appreciated by 10 paise to close at 67.98 against the greenback on sustained selling of the American currency by exporters and local banks.The benchmark BSE Sensex fell by 50.91 points, or 0.14 per cent, to 35,381.48 in opening trade.

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Adani Transmission, Bosch, L&T, BHEL, Tata Steel, Blue Dart

Adani Transmission: Company acquires 100 percent equity in Ghatampur SPV

Indiabulls Real Estate proposes to issue NCD worth Rs 480 crore

Bosch: Company plans to invest Rs 1,700 crore in India in next 3 years

NTUC Income selects Majesco Distribution Management and Majesco Digital Solutions to advance its distribution management operation

JK Cement board meeting on June 28 to consider fund raising

L&T: Company opposes proposal to give Rs 60,000-crore submarine project to Mazagon Dock

Mahindra Lifespace and International Finance Corporation (lFC) partner for industrial infrastructure development

Jet Airways: Company inducts first of 150 Boeing 737 Max planes

Tata Steel: Company starts despatch of Tiscrome from Gopalpur plant

Axiscades Engineering Technologies and ASSYSTEM create joint venture in energy, buildings, infrastructures and nuclear sectors.

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Cipla, Infosys, Wheels India, Oberoi Realty, Huhtamaki PPL

Cipla has received final approval for its abbreviated new drug application for Efavirenz tablets 600mg from the USFDA. It is indicated in combination with other antiretroviral agents for the treatment of human immunodeficiency virus type 1 infection in adults

Infosys expands footprint in france by establishing state-of-the-art digital center of excellence in Marseille.Brigade Enterprises board meeting on June 22 to consider proposal for fund raising by issue of non-convertible debentures

Wheels India's board, on June 22, may consider issue of bonus shares

DCM Shriram to buyback 55.55 lakh equity shares at Rs 450 each

Brickwork Ratings India revised ratings of debt instruments of IFCI

Kansai Nerolac Paints has entered into a share purchase agreement to acquire 55 percent of the paid-up equity of RAK Paints, Bangladesh, for a total consideration of Bangladeshi Taka (BDT) 57.26 crore (approximately Rs 45.81 crore)

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Stock Picks of the Day: 3 buys that could return 7-8%

For the last 6 sessions, the Nifty has been trading in a narrow range of 10,750-10,893. Information technology, pharmaceuticals and fast moving consumer goods (FMCG) sectors have remained major pockets of strength.

Reliance Industries, which carries more than 7.5 percent weight in the Nifty, has also been a major contributor. Midcaps and smallcaps have been witnessing selling pressure. Market breadth has remained negative for the last four consecutive sessions.

The Nifty is trading in a symmetrical triangle pattern on the daily charts. The downward sloping trend line, adjoining the highs of January 29 (11,171) and January 15 (10,929) is projecting short term resistance at around 10,900 levels

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Oil retailers, aviation stocks rally up to 6% after Brent crude prices fall below $73/bbl

Aviation and oil marketing companies' share prices gained between 2.5 percent and 6 percent after sharp fall in crude oil prices in the international markets.

State-run oil retailers Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation rallied 2.5-4 percent while Jet Airways, SpiceJet and InterGlobe Aviation gained 2.5-6 percent.

Brent crude futures, the international benchmark for oil prices, has been falling sharply ahead of likely increase in the output by OPEC, Russia and its allies in the meeting in Vienna later in the week.

Brent crude futures were at $72.69 per barrel, down 1.02 percent, from their last close while US West Texas Intermediate (WTI) crude futures were at $63.84 a barrel, down 1.88 percent, from their last settlement

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TCS ends at record closing high post Rs 16,000 cr buyback approval

Tata Consultancy Services (TCS) shares ended at record closing high on the BSE and NSE post the company announced its buyback plan worth Rs 16,000 crore.

The board of directors of the company has approved a proposal to buyback up to 7,61,90,476 equity shares of the company for an aggregate amount not exceeding Rs 16,000 crore being 1.99% of the total paid up equity share capital, at Rs 2,100 per equity share.

The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism.

The buyback is subject to approval of the members by means of a special resolution through a postal ballot.

The public announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the buyback regulations, company said in release.

The company's promoters are holding 71.92 percent stake in the company.

Tata Consultancy Services ended at Rs 1,841.45, up Rs 49.20, or 2.75 percent. on the BSE.

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Nifty hovers around 10,800 amid trade war woes; DRL top gainer

The rupee plunged by 32 paise to hit a three-week low of 67.95 against the US dollar following strong demand for the greenback amid sustained foreign capital outflows.

Besides, the dollar strengthening against other currencies overseas as the European Central Bank (ECB) pledged to leave interest rates unchanged until mid-2019, weighed on the rupee, traders said.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,372.84 crore yesterday, as per provisional data issued by the stock exchanges.

Yesterday, the rupee had gained 3 paise to end at 67.62 against the US currency, cutting short its two-day decline.

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Sensex falls 100 pts after Fed raises interest rates; Dish TV up 4%

Edelweiss Securities has initiated coverage with Buy rating on the stock and set a target price at Rs 199, implying potential upside of 42.5 percent.

The company is in a sweet spot to capture the financialisation story, it believes.

The research house expects multiple levers to sustain best-in-class growth & improved return ratios.

It has promising blend of businesses; and scalable and sustainable model while its business model shares similarities with successful financial entities like Bajaj and HDFC, Edelweiss said.

Execution of business strategy is key risk to potential valuation re-rating, it said.

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Sharekhan sees Nifty correcting unless 10,929 is taken out; lists 3 short term picks

The Nifty posted its third consecutive weekly positive close last week. The daily chart shows that price action over these three weeks is characteristic of a pullback. This means the move has multiple overlapping structures and is unlikely to develop into a larger rally. The daily Bollinger Bands have flattened over the period, which caps the upside at the upper band.

On a higher timeframe - monthly chart, the Nifty has formed a Doji pattern for May. A Doji is a sign of exhaustion in the market. Thus, we are likely to witness a correction unless the high of the Doji pattern (10,929) gets taken out.

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Sensex starts on a flat note, Nifty holds 10,800; midcaps trade flat

Indices have extended their gains from the opening minutes, with the Sensex rising over 100 points, while the Nifty is trading well above 10,800-mark.  

The Sensex is up 99.83 points or 0.28% at 35583.30, and the Nifty up 26.20 points or 0.24% at 10813.20. The market breadth is positive as 1109 shares advanced against a decline of 779 shares, while 104 shares were unchanged.

Dr Reddy’s, TCS and Lupin were the top gainers, while Tata Steel, Maruti Suzuki, and Hindalco lost the most. 

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Sensex up 100 points, Nifty trades above 10,800; Inox Wind down 8%Sensex up 100 points, Nifty trades above 10,800; Inox Wind down 8%

 After seeing a mildly higher opening, equity benchmarks gained strength in the first hour of trade, with the Sensex gaining over 100 points, while the Nifty managed to clock 10,800. Buying was visible among PSU banks; the Nifty PSU bank index was up over 1.5 percent, while gains were seen pharmaceuticals, infra, and FMCG names. The midcap index is up around half a percent.

Among stocks, Inox Wind fell 8 percent after its auditors decided to quit the firm. Sun Pharma has extended gains from Friday, while Sagar Cements is up over 6 percent on the back of good sales figures for May.

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SFIO readies list of more than 113,000 entities

The Serious Fraud Investigation Office (SFIO) has drawn up a list of more than 113,000 shell companies as the government prepares for another onslaught on black money. The database compiled by SFIO has red-flagged more than 80,000 companies suspected to be shell entities while it has confirmed illegal activities in 16,537 of them. 

The government will take appropriate action after receiving responses, the corporate affairs ministry said.SFIO is part of the task force set up in February last year by the Prime Minister’s Office to crack down on shell companies that are used to launder black money. The task force has also determined a set of markers that will be used in identifying more shell companies. All law enforcement agencies will also follow a standard operating procedure, prepared by the Central Economic Intelligence Bureau (CEIB), for sharing documents. 

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ITC, HDFC Bank, Tata Motors, Dr Reddy's Lab, Omax Autos

HDFC Bank raises MCLR across tenors by 10 bps

Tata Motors proposes to raise up to USD 500 mn via ECB

Omax Autos approves proposal for diversification and expansion of existing capacity for manufacturing products and equipment supplied to Railways.Dr Reddy's expects to launch generic Copaxone in H1 FY20 in US

Indian Bank revised the marginal cost of funds based lending rates (MCLRs) with effect from June 11, 2018

Time Technoplast receives order worth Rs 40 crore

PTC India: Sutirtha Bhattacharya appointed as the Independent Director on the Board

ITC acquires Nimyle floor cleaner, forays into home care space 

Capital First debenture committee allots NCD worth Rs 100cr on private placement basis

Goldman Sachs India Fund sold 14,00,000 shares of Ashiana Housing at Rs 147.02 on the BSE and sold 14,94,502 shares at Rs 147.03 on the NSE

IMP Power successful foray into the renewable energy space

Vakrangee board meeting on June 14 to consider financial results for the quarter and year ended March 31, 2018.

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Syndicate Bank, Kwality, Videocon Industries, Capital First, Quess Corp

 Lumax Auto Technologies - From Rs 10 to Rs 2

Syndicate Bank plans to raise Rs 5K cr via securities

 The Board of Directors of the company approved the allotment of 5,843 fully paid-up Equity Shares of Rs 10/- each.Quess Corp approved sale of 74% equity shareholding held in Inticore VJP Advance Systems

Kwality board meeting on June 20 to consider and approve proposal for buyback of securities and/or bonus issue of securities

Kirloskar to hike power genset prices by 5-8%

Capital First's debenture committee approved issue of NCD worth Rs 50 crore on private placement basis

Essel Propack - Record date for bonus issue is June 21

Lemon Tree signed License agreement for 104 room property at Gwalior

NCLT Admits Videocon Industries Case For Insolvency Proceedings

Tech Mahindra: Company appoints Harshvendra Soin as Chief People Officer

ICICI Bank clarified that the bank is yet to receive copy of NCLT order

Sadbhav Infra approves issue of NCD worth Rs 190 crore on private placement basis and raising of funds via securities of Rs 3000 crore

Aksh Optifibre receives show cause notice from SEBI pertaining to GDR issue

Hatsun Agro's rights issue to open on June 14 and issue price fixed at Rs 555 per share

CRISIL downgraded its ratings on the bank loan facilities of Speciality Restaurants to CRISIL A-/Negative/CRISIL A2+ from CRISIL A/Negative/CRISIL Al.

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CG Power, Gujarat Ambuja Exports, Bank of Baroda, NMDC, Hind Copper

Corporation Bank to consider raising of capital by way of issuance of fresh equity shares and/or by issuance of additional Tier – I or Tier – II capital

Gujarat Ambuja Exports clarifies about NGT order for closure of its units

CG Power bags a large order of Rs 3190 million from Indian Railways

Bank of Baroda: The lender has raised lending rates by 5 bps.

Everest Industries clarifies that comapny is not involved in any infringement proceedings initiated by Ultratech Cement

Electrosteel Steels spells out steps for completion of acquisition by Vedanta

NACL Industries enters into an MoU with ATGC Biotech

Confidence Petroleum allots 1.5 cr equity shares at Rs 52 on a preferential basis through private placement The company’s iron ore output at 4.5 MT in 2 months of FY19

Hindustan Copper: Company gets nod to carry own exploration, FY19' capex at Rs 700 crore

Karur Vysya Bank ties up with Aditya Birla Health as bancassurance channel

Strike by workers of Jaya Shree Textiles a division of Grasim Industries

Sadbhav Infrastructure to consider allotment of 1.9 billion NCDs, fund raising

South Indian Bank to consider funds raising plans

Bajaj Finance raises fixed deposit rates by 30 bps

Vama Sundari Investments (Delhi) bought 75,00,000 shares of HCL Techat Rs 900

India Infoline Investment Services bought 1,05,82,670 shares of Lakshmi Vilas Bank at Rs 100.10

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FIIs spring a surprise, stay away from HDFC Bank

HDFC Bank, India’s most popular stock among foreign investors, is usually lapped up by them at every opportunity. But on Monday, when overseas investors had a chance to buy up to roughly Rs 9,400 crore worth of HDFC Bank shares, many foreign portfolio managers — even those that have been traditionally bullish on the lender — chose to give it a miss or kept their purchase to the minimum.Overseas investors could buy roughly 1.7 per cent or 4.35 crore shares of HDFC Bank on Monday after a recent employee stock option issue resulted in dilution of equity, giving foreigners room to buy some more. Foreign brokerage officials said these investors, however, bought only a portion of the shares that were freed up. In the special trading window only for FIIs, which is available until the end of June, about 13 lakh shares of HDFC Bank were traded, said brokers. 

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