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After trading initially in the red in the first half of the session and with modest gains after that, the Indian equity market saw a sharp upsurge in the last hour of the trade on Friday. The benchmark index Nifty50 saw a sharp upmove and finally ended the day gaining 80.75 points or 0.75 per cent. This was mainly led by short covering as the Nifty
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In our previous weekly note, we had mentioned about the critical importance of the 10,820-10,850 zone and the likelihood of volatility creeping into the market. Much on the expected lines, the Nifty50 struggled throughout the week to move past the resistance zone at 10,820 and 10,850 levels, but still ended between these critical levels.

Though

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New offer from IIFL Finance: 4,000 jobs!
India Infoline Finance, backed by the UK-based CDC group, has embarked on a mega hiring plan as it aims to grow loans about 25% a year as more citizens step on to the consumption ladder in the world’s fastest-expanding economy.IIF has poached ace banker Sumit Bali from Kotak Mahindra Bank to head the non-banking unit as its chief executive officer
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China central bank cuts some banks' reserve requirement ratios by 50 bps
China central bank cuts some banks' reserve requirement ratios by 50 bps - The TheIndianSubcontinent

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The week in 10 stocks: RIL, BoM, IDBI Bank; highs lows plus IPOs
The domestic equity market settled the volatile week with marginal gains amid some buying in financials as well as oil marketing stocks.

The BSE Sensex advanced 67.50 points, or 0.18 per cent to 35,689 on June 22 from 35,622 on June 15. The NSE Nifty index added just 4 points, or 0.03 per cent, to 10,821 for the week ended June 22.

ICICI Bank,

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Bharat-22 ETF oversubscribed, investors put in bids worth Rs 12,500 crore
The second tranche of Bharat-22 ETF was oversubscribed on the final day of offering, with the issue garnering subscription to the tune of Rs 12,500 crore.

Through the Bharat-22 Exchange Traded Fund (ETF), comprising shares of 22 companies, the government had targeted to mop up Rs 6,000 crore with a green-shoe option of another Rs 2,400 crore.

Subsc

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By Andy Mukherjee

The path to ending the custody dispute between the National Stock Exchange of India and Singapore Exchange Ltd. passes through a parable involving three kids and a flute.

A minor domestic quarrel has turned into a major court battle over who gets to trade the benchmark Indian index.

The Indian side wants exclusive rights over the

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Wall Street Week Ahead: Supercharged telecom sector could become investor favorite
SAN FRANCISCO: An overhauled telecommunications sector featuring most of the so-called FANG stocks could debut as Wall Street's hottest bet when it kicks off in September, boosted by a rising wave of media and television acquisitions.

Long viewed as stodgy stocks for dividend-oriented investors, the telecom services sector will be renamed

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The. Sensex rebounded over 257 indicate close at 35,689.60 while the NSE Nifty passed by the 10,800-mark in unstable trade today, with institutional financiers providing important assistance. Belief was buoyed after data showed that foreign portfolio investors (FPIs), who had been net sellers for the past several sessions, were back to buying mode on
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Overseas investments by Indian companies expected to rise: CII
NEW DELHI: Industry chamber Confederation of Indian Industry (CII) today said overseas investments by Indian companies are likely to go up given the stable market conditions and the significant impact created by Indian companies on local economies.

Indian companies have been working with the local communities while investing abroad, generating

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Is the pharma rally here to stay CLSA explains why stocks rallied
Domestic pharmaceutical companies made a smart comeback this month with NSE’s Nifty index soaring over 13 per cent in June so far. The sector was underperforming for last three years amid pricing policy in the US generics markets, patent protection and regulatory overdrive, among others.

The recent rally in pharma stocks is different, says CLSA.

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Alok Industries' majority lenders approve RIL acquisition bid
Majority of lenders of textiles firm Alok Industries have approved Reliance Industries' resolution plan to acquire the debt ridden company.

The Committee of Creditors (COC) of Alok Industries had earlier rejected RIL's resolution plan submitted on April 12 for acquiring the firm in conjunction with JM Financial Asset Reconstruction Company.

Followi

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Promoters buy out TPG, Actis' 42% stake in AGS Transact
MUMBAI: MUMBAI: The promoters of AGS Transact Technologies have bought out the 42 per cent stake held by private equity funds TPG and Actis in the cash and payments operator for an undisclosed sum, a top official has said.

The promoter family is looking at reviving the initial public offering plans as well.

TPG had reportedly invested Rs 500 crore

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Pharma comes out of shell it-s no more a bitter pill
By DK AggarwalIndia’s pharmaceutical sector is now popping out from a shell and making a remarkable recovery. Actually, it has been facing several regulatory challenges in the forms of a recast of foreign direct investment (FDI) policy, pricing policy in the US generics market, patent protection, regulatory approvals and compulsory licensing.

Also

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NEW DELHI: Friday fiesta! It was literally a tale of two different worlds for the financial markets on Friday.

Even when their global counterparts struggled to brave trade war concerns, the bulls on Dalal Street went berserk in the last hour of trade to give the indices a major lift.

The Nifty Bank surpassed the crucial 26,750 mark to perch at

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Charges for high algo OTR to be imposed in equity segment from June 29
NEW DELHI: Leading exchanges BSE and NSE have said that charges for high algo order to trade ratio (OTR) will be levied in the equity segment from June 29.

The bourses currently levy charges for high algo OTR in equity derivatives and currency derivatives segments.

Algorithmic or algo trading refers to high-frequency and automated execution of

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The domestic stock market is clearly in the whipsaw mood, typically known as a correction phase. It is said that all the monies made during a bull market gets marooned in a correction phase. The market at first slipped on the bad news of trade wars and the recovered on the good news of oil moving lower. The indices develop upward gaps but then
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Tech view: Nifty forms bullish pattern, but weekly chart shows indecisiveness
NEW DELHI: The Nifty50 rebounded from day's low on Friday to settle around the day's high. The index formed a 'Bullish Engulfing' pattern on the daily chart, but an indecisive pattern on the weekly chart suggested that some more upside is needed to instil confidence before the bulls emerge on top.

The index revisited its entire trading range of

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Indian equity market likely to be an outperformer: Morgan Stanley
NEW DELHI: The Indian equity market is likely to be an "outperformer" even as absolute returns are likely to be capped by a tepid global equity market outlook, a Morgan Stanley research report said.

According to the global financial services major, while improving growth and reasonable large cap valuations are expected to boost markets, in an

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Bajaj Finance on Friday surpassed Axis Bank in market value for the first time. The market capitalisation of the finance company stood at of Rs 134,952 crore on Friday after the stock gained 3.5 per cent to close at Rs 2,335. Axis Bank’s market capitalisation ended at Rs 134,725 crore.

This makes Bajaj Finance the sixth most valuable company in

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F O: Nifty50 has to hold above 10,770 to move towards 10,888
By Chandan TapariaThe Nifty50 index managed to hold its support at the 10,700 level and headed towards a fresh weekly high of 10,837 on Friday. It formed a Bullish Engulfing pattern on the daily scale, as it covered all the losses of last session and closed above 10,800.

The index visited the entire trading range of the week in just one session,

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F O expiry, monsoon progress and OPEC outcome among top factors that will steer market this week
NEW DELHI: Investors witnessed another volatile week during June 18 - 22, with the bears and the bulls showing equal prowess to dominate Dalal Street.

However, the latter emerged victorious, thanks to brisk buying in financials and pharma counters. The S-P BSE Sensex advanced 67.50 points, or 0.18 per cent, to end the week at 35,689 while the

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North Block has another bit of money puzzle to solve this year: Plugging the revenue gap arising from paltry dividends at the banks it owns. As India battles a potentially $165-billion bad-loan resolution, its 21 state-run banks are struggling to survive, let alone pay part of their profits to the government.

Just two lenders – Indian Bank and Vij

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Stock market update: RIL, HDFC most active stocks in value terms
NEW DELHI: Reliance Industries (RIL) (Rs 1,641 crore) finished Friday's session as the most active stock in terms of value on NSE.

The pack also included HDFC (Rs 766.56 crore), Sun Pharma (Rs 563.61 crore), State Bank of India (Rs 561.44 crore), Tata Consultancy Services (Rs 533.96 crore) and ICICI Bank (Rs 522.57 crore).

In a volatile session on

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Business dynamics changing, some firms will die, be careful in stock picking: Porinju
Indian equity market is not at all in the bear phase and the recent correction is an opportunity for stock picking, says Porinju Veliyath, Founder - CEO of Equity Intelligence. He was addressing an investors event in Kochi.

He said the ongoing correction in midcap and smallcap stocks is quite normal and the market had witnessed it many times

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SAT directs Sebi to look into RIL-Netowrk18 deal‘control& issue
The Securities Appellate Tribunal has quashed the capital market regulator's earlier decision that Reliance Industries Ltd (RIL) did not violate its listing agreement by not disclosing the acquisition of Network 18 Media - Investments by Independent Media Trust (IMT) --- set up by the company --- to the stock exchanges.

The tribunal, a

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Sensex jumps 257 pts on fag-end buying, Nifty back above 10,800
NEW DELHI: The domestic equity market staged a smart recovery during the fag-end session of the trade, as Sensex and Nifty rose up to 0.75 per cent, on gains in bank, FMCG and auto stocks.

Thanks to Friday’s gains, both Sensex and Nifty rose for the week, gaining 0.18 per cent and 0.03 per cent, respectively.

The market has opened weak today

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What did Chairman Nilekani say at 37th AGM about Infosys revival
While addressing shareholders at 37th annual general meeting (AGM) of Infosys on Saturday, co-founder and non-executive Chairman Nandan Nilekani assured shareholders that the new management will take all necessary steps to take Infosys higher. He said several steps have been taken to bring back stability in the company.

“Our priority is to get o

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MFIs lower rates with greater efficiency, lower cost of funds
KOLKATA: Despite hardening of general interest rates, there's some relief for a certain segment of micro loan borrowers by way of lower borrowing costs. A handful of microfinance institutions (MFIs) are reducing lending rates backed by improved efficiency and lower cost of funds.

Fusion Microfinance, India's ninth-largest MFI by outstanding loans,

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Stock market update: Nearly 150 stocks touched 52-week lows on NSE
NEW DELHI: As many as 148 stocks including JK Cement, Kajaria Ceramics, NBCC (India), UltraTech Cement, Aditya Birla Capital, ACC, Bank of Baroda, Bharat Electronics and Dalmia Bharat hit 52-week lows on NSE on Friday.

In a volatile session on Friday, domestic equity benchmarks settled in the positive territory on gains in bank, financial, FMCG

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