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.

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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).

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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. 

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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.

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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.

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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.

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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.

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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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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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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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Top 12 stock ideas that could offer up to 15% return

After witnessing a rather smooth ride in the week gone by, investors should brace for some volatility around the Karnataka election verdict. The Nifty rose about 1.7 percent for the week-ended May 11 and managed to close above 10,800 levels. But the move was largely led by index heavyweights, despite the market breadth remaining negative.

It was a terrible week for so many counters, especially those from the midcap universe that have been hammered brutally during last week. The only positive from last week trade was the Nifty’s close above 10,800 levels, ahead of the Karnataka election verdict, which suggests a favourable election outcome for markets.

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Sensex consolidates; April sales lifts auto stocks, HCL Tech top loser

NBCC share price gained 1 percent after it has received letter of appointment from Ministry of External Affairs, Govt. of India for the construction of Mahatma Gandhi Convention Centres (MGCC) in nine (9) African Countries namely Niger, Uganda, Malawi, Zambia, Liberia, Gambia, Burkina Faso, Togo and Gabon amounting Rs 2,000 crore.

 The market is trading mildly higher amid consolidation and weakness in Asian stocks. Auto, infra, select banks stocks and Reliance Industries supported the market while technology stocks were under pressure after HCL Tech earnings.

HCL Technologies is the biggest loser with more than 3 percent loss after Q4 earnings slightly missed analyst expectations while Auto index was up 1 percent after strong April sales.

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Sensex up 150 pts, Nifty reclaims 10,750; Axis Bank, RIL fall 3%

 PC Jeweller rallied nearly 18 percent as board of directors will consider share buyback next month.

"A meeting of the board of directors of the company will be held on May 25, 2018, to consider the proposal for buy back of fully paid-up equity shares of the company," the jewellery maker said in its filing to exchanges.

The board members will also consider and approve the audited standalone and consolidated financial results for the quarter / financial year ended March 31, 2018.

They will consider recommendation of dividend on preference shares for the period from April 01, 2017 to September 01, 2017, and recommendation of dividend, if any, on equity shares for the financial year 2017-18.

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