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.

Read more--Stocks update

Nifty inching towards 10,600 ahead of expiry; Wipro falls 4% post Q4 nos

The market traded mildly higher amid consolidation ahead of expiry of April derivative contracts today.

Wipro fell nearly 4 percent after disappointing fourth quarter earnings and Q1 IT services revenue guidance.

Axis Bank, Yes Bank, Biocon, SBI Life Insurance, Reliance Capital, AU Small Finance Bank among others will announce earnings today.

The 30-share BSE Sensex was up 61.16 points at 34,562.43 and the 50-share NSE Nifty rose 16.30 points to 10,586.80.

Read more--Stocks update

Sensex, Nifty recover from day’s lows, thanks to IT stocks; TCS nears $100 billion market cap

Held by huge gains on technology stocks, the market on Friday managed to end a largely negative day on a flat note. Benchmark indices managed to end just below the flatline.

Gains in firms such as HDFC Bank, Kotak Mahindra Bank, TCS and Infosys helped the market hold steady.

Among sectoral indices, majority of them ended in the red, with maximum bleeding visible in Nifty PSU bank index. But Nifty IT index stood out, with gains of around 5 percent on the back of strong upmove in TCS.
Read more--Stocks update

Stock market: Sensex, Nifty50 edge lower amid intensifying US-China trade war

The domestic equity market on Friday opened on a cautious note before entering negative territory as trade war fears resurfaced. At 09.40 am, the S&P Sensex was trading 81.20 points higher at 33,515.60 with Adani Ports (up 2 per cent) being the top gainer and Tata SteelNSE -0.80 % (down 1 per cent) the worst laggard. The broader Nifty50 index was trading 32 points lower at 10,292, with 29 components in the green and 21 in the red.  Read More

Oil inches lower on expectations for US crude stock build

Oil prices slipped on Wednesday on expectations for a build-up in US crude inventories, but Russian government comments on prospects for stepping up cooperation with OPEC to coordinate output cuts braked steeper declines. 

US WTI crude futures were at $63.36 a barrel at 0208 GMT, down 15 cents, or 0.24 per cent, from their previous settlement. 

"With the change in prices being only a few cents, I think the oil market is waiting for the next development and of course the US inventories data due tonight (Wednesday) is very good reason for traders to be waiting," said Michael McCarthy, Chief Market Strategist at brokerage CMC Markets. Read More

Top five stocks to bet on this week

5 stock recommendations for the week

The market is likely to remain cautious in the coming days owing to volatility in global markets due to ongoing trade war between the US and China. Let's check out top five stocks on which tech charts have ‘buy’ signals.

MARICO | BUY | Target Price: Rs 348

The stock has off late grossly outperformed the general market. Couple of signals have emerged which point towards likely continued up move. Daily MACD stays in continuing buy mode. RSI stands neutral but is seen breaking out of a formation marking a higher bottom. 

ITC | BUY | Target Price: Rs 272

The stock has remained sideways in a defined trading range over past several weeks. Though it has remained in a trading range, it has not been able to move past its DMAs comprehensively. Presently, it trades near the lower support are of the sideways trajectory that it has formed. A Doji has emerged on Candles.

OIL | BUY | Target Price: Rs 370

The stock is seen breaking out from a formation and the confirmation is seen in volumes. After the corrective declines from the 373-mark, it took support on its 200-DMA twice. The Daily MACD has reported a positive crossover and it is now bullish trading above its signal line.RSI has broken out of a formation and has marked a bullish divergence against the price

Read More:- List of the Stock

Sensex drops over 200 pts, Nifty50 below 10,400; SAIL tanks 3%, Tata Steel 2%

Benchmark indices saw a soft start on Monday as metal shares felt the heat, faced with US President Donald Trump's threat to impose duties on steel and aluminium import. 

The BSE Sensex fell 221.60 points, or 0.65 per cent, to 33,825.34. The Nifty50 was down 77.40 points, or 0.74 per cent, to 10,380.95. Both escaped Friday's global selloff because it was a public holiday. 

The entire BSE Metal basket was in the negative. Jindal SteelBSE -4.12 % plunged 3.03 per cent. JSW Steel, HindalcoBSE -3.31 %, SAILBSE -4.51 % and NALCO all declined up to 2.85 per cent. 

Read More:- Top Stock to be Focus

Market Now: Private bank stocks up; IndusInd Bank, Axis Bank top gainers

NEW DELHI: Shares of private sector lenders IndusInd BankBSE 2.14 % (up 1.56 per cent), Axis BankBSE 1.08 % (up 1.14 per cent), Kotak Mahindra BankBSE 1.03 % (up 0.99 per cent) and Karnataka BankBSE 0.79 % (up 0.86 per cent) were trading up in morning trade on Monday. 

The Nifty Private Bank index was trading 0.80 per cent up at 14,394 around 09:55 am (IST). 

Shares of HDFC Bank (up 0.81 per cent), ICICI Bank (up 0.68 per cent), Federal Bank (up 0.21 per cent), South Indian BankBSE 0.19 % (up 0.19 per cent), YES BankBSE -0.28 % (up 0.11 per cent) and IDFC Bank (up 0.10 per cent) were also among the gainers. 

Domestic benchmark indices climbed in Monday's trade amid firm cues from global markets. 

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Gold Rate Today: Gold, silver down in morning trade

Gold prices were trading lower in morning trade on Thursday following strengthening US dollar. 

MCX Gold futures were down 0.12 per cent, or Rs 36, at Rs 30,440 at around 10.20 am (IST). 

Minutes from the last US Federal Reserve meeting showed policymakers backed further interest rate hikes which also weighed on the yellow metal. 

According to SMC Investments and Advisors, stronger greenback is likely to keep prices under pressure and US jobless claim data will give further direction to the prices. Read More

Sensex, Nifty trade lower on weak global cues, F&O expiry

NEW DELHI: Benchmark indices opened on a weak note on Thursday, tracking a drop in US stocks in overnight trade. Bond yields climbed in US on Wednesday after the release of minutes of the recent Fed policy meet that hinted at a faster than expected rise in interest rates.

This led the rupee to tumble below the 65-mark for the first time since November 21, which further dented the domestic sentiment. The domestic currency opened 29 paise lower at 65.0 ..

Investors were also cautious ahead of the expiry of February series futures and options contracts later in the day. Read More

Market Live: Sensex rises 150 points, Nifty above 10,400, bank stocks extend losses

Criterion indices BSE Sensex and NSE Nifty traded higher in the morning hours on Tuesday as foreign bankers extend to reimburse their situation. In the last eight Discussions, foreign institutional investors (FIIs) sold nearly $1.4 billion in equity due to a mediocre budget and the recent $1.8 billion Punjab National Bank fraud. The Indian rupee punches a 2month low against the US dollar. Bond turnout hit two-year high on misgiving of shrinking banking system liquidity and higher US yield. Here are the latest updates from the markets: Read More

Market Live: Sensex rises 200 points, Nifty near 10600, bank, IT stocks gain

Criterion indices gained for the second session on Friday, with BSE Sensex rising over 200 points and NSE Nifty above 10,600. The rupee establish for the fourth session to hit a two-week high against the US dollar on Friday, tracking gains in its Asian peers. Sentiment also boosted after the Reserve Bank of India said it will be ready to inject adequate amount of extra cash into banks if needed ahead of March-end. Here are the latest updates from the markets: Read More

RBI’s tough love sinks bank stocks on Valentine’s Day

The essential of the latest change in NPA (non-performing asset) realization and settlement is the Insolvency and Bankruptcy Code (IBC). Every stressed loan where banks either fail to appliance a resolution plan, or fail to stick to the period of achieve one, will find its way into the courts.

Which arethese loans?

Indian banks are sitting on a reconstruct loan pile of close to Rs1.6 trillion even after the steady slippage of these accounts into the NPA category over the last several quarters.

The bulk of these are feared to be on their way to the bankruptcy courts, according to analysts. Read More

Market Live: Sensex rises over 100 points, Nifty above 10500, PNB shares down 7%

BSE Sensex trades higher in opening trade on Thursday against the previous session are closing. The broader Nifty also rose in the morning hours. The Indian rupee strengthened against the US dollar, tracking gains in the Asian currencies market. Traders will watch for the Wholesale Price Inflation data due after 12pm. According to Bloomberg estimates, WPI will be at 3.2% for January from 3.58% a month ago. Here are the latest updates from the markets. Read More

Market Live: Sensex rises over 100 points, Nifty above 10,550, PSU bank, pharma stocks fall

BSE Sensex red over 100 points on Wednesday against the preceding session’s closing. The broader Nifty also benefit in the morning hours. Indian government bond prices and rupee gained on the back of superior-than-normal key macro-economic data. India’s factory output grew at a robust 7.1% in December, while retail inflation slowed to 5.07% in January as food expansion softened, according to government data released on Monday. Moreover, traders will keep an eye on Wholesale price expansion data due after 12pm. Here are the latest updates from the markets. Read More

RBI withdraws SDR, S4A, sets banks 180-day timeline for bad loan resolution

The Reserve Bank of India (RBI) on Monday tightened norms for bad loan resolution by setting timelines for resolving large NPAs, failing which banks will have to mandatory refer them for insolvency proceedings. It also withdrew existing debt restructuring schemes such as SDR and S4A.

RBI has issued definitions of different resolution plans and an indicative list of financial difficultly, and directed lenders to share data on certain defaulted borrowers with the central bank’s database on large exposures on every Friday.

The large accounts are mainly those where banks have initiated resolution and are classified as restructured standard assets. Indian banks are sitting on a stressed assets pool of over Rs10 trillion. Read More

Rupee opens higher against US dollar ahead of CPI data

The Indian rupee strengthened against the US dollar on Monday, tracking gains in Asian currencies.

At 9.09am, the home currency was trading at 64.26 a dollar, up 0.21% from its Friday’s close of 64.40. The rupee opened at 64.26 a dollar and touched a high and a low of 64.24 and 64.29, respectively.

So far this year, the rupee has lost 0.62%, while foreign institutional investors have bought $1.48 billion and $ 2.06 billion in equity and debt, respectively.

Consumer Price Index (CPI) and Index of Industrial Production (IIP) data are due to be released on Monday. A Bloomberg poll of 31 analysts on CPI shows a median estimate of 5.1% in year-on-year in January from 5.21% in December, and 28 analysts polled by Bloomberg have median estimates of 6.1% year-on-year in December for IIP, from 8.4% gain in November. 

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Managing the LTCG tax for your mutual funds

Equity markets have been in a tizzy ever since Union Budget 2018 imposed the 10.4% tax (including the cess and indexation) on long-term capital gain (LTCG) on equity mutual fund schemes and direct equities. While debt funds have been imposing a 20.6% LTCG tax (with indexation) after 3 years, equity funds were exempted, so far, from LTCG tax—if you had held your mutual fund units for at least 1 year. This exemption has been around since 2004. But LTCG tax is back for equity funds, though the holding period of 1 year—to distinguish long-term and short-term gains—remains the same, going forward. If you have been planning for your financial goals using mutual funds, it’s important to understand how LTCG will impact your portfolio Read More

Opening bell: Asian markets open mixed; Bank of India, Britannia, GAIL in focus

US stocks rebound; Asian markets open mixed

The Dow Jones industrial average rebounded more than 300 points Friday, paring deep losses for investors in what still amounted to the worst week in two years.

Asian markets were mixed early on Monday, while oil prices edged up after recording six straight days of declines.

SGX looks to bypass curbs placed by Indian bourses

The Singapore Stock Exchange (SGX) said it will develop new products to provide investors with access to Indian securities after exchanges in the country abruptly decided to end licensing their products and data to overseas bourses.

ONGC Videsh-led consortium picks up 10% stake in UAE’s Zakum oilfield

A consortium of Indian companies led by state-owned Oil and Natural Gas Corp. Ltd (ONGC)’s overseas arm, ONGC Videsh Ltd, has bought a 10% stake in the UAE’s offshore oil and gas field Zakum, as India pursues overseas hydrocarbon assets, while oil-rich nations resort to ways of reducing risk and balancing their budget deficits.

Wipro Consumer Care set to cross $1 billion in revenue by next month

Wipro Consumer Care and Lighting will reach the $1 billion revenue mark by March 2018, as the company’s China bets in particular continueto pay off and key brands in India perform well.

Aditya Birla Capital to launch ARC business this quarter

Aditya Birla Capital Ltd (ABCL), the financial services business of the $50 billion Aditya Birla Group, will begin investing in its asset reconstruction company (ARC) and start business this quarter, reports Mint.

Tata Motors to leverage group strength on future of mobility: MD Guenter Butschek

As the auto industry goes through disruptions brought by new technologies, Tata Motors is banking on group strength, particularly on software major TCS, in its bid to position itself as a mobility solutionsprovider, according to its MD and CEO Guenter Butschek.

Atria Convergence hires investment banks for IPO

Atria Convergence Technologies Pvt. Ltd (ACT), a broadband services provider controlled by private equity firms TA Associates and True North, has hired investment banks to help it raise Rs1,500-2,000 crore through an initial public offering (IPO). 

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Rupee falls to fresh two-month low against US dollar amid global sell-off

The Indian rupee on Friday weakened to a fresh two-month low against US dollar after fears of higher interest rates by the Federal Reserve led to a fresh plunge in global markets.

The rupee opened at 64.42 a dollar and touched a low of 64.43, a level last seen on 18 December. At 9.15am, the rupee was trading at 64.38, down 0.21% from its Thursday’s close of 64.26.

Traders were cautious after 10-year US bond yield climbed to almost 2.9%, a key indicator of inflationary pressure and the likelihood of higher interest rates. Analysts expect that it could hit 3% in the coming days.

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