StockMarket

Fed and ECB inflict fresh blows on currencies, stocks
By Yumi Teso , George Lei , and Alexander NicholsonThe selloff in emerging markets showed few signs of abating as a combination of mounting trade-war concerns, slightly hawkish Federal Reserve and the European Central Bank’s decision to phase out asset purchases pummeled stocks and currencies.

The MSCI Emerging Markets Index of equities slumped

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BoB puts 30 impaired loans worth over Rs 7,400 cr on block
MUMBAI: Bank of Baroda has put on the block 30 impaired loans of over ₹7,400 crore. These include loans to Binani Cement, Essar Steel and Bhushan Power, which are undergoing bankruptcy proceedings but may take longer to reach resolutions as they are mired in litigations.

Other companies on the bank’s list include Jindal India Thermal Power, GTL

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Tech view: Nifty charts show bulls in no mood to give up
NEW DELHI: Friday was the second consecutive day when the bulls bounced back after losing ground in morning trade.

This time, the index came close to the 10,750 level before erasing the losses of entire day to settle in the black, suggesting that the bulls were not in a mood to give in easily.

For the day, the index ended up rising 9.65 points, or

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Modiaffordable housing push has just lifted outlook of HFCs
By DK Aggarwal

Recently, the government approved a 33 per cent increase in carpet area of houses eligible for interest subsidy under its affordable housing programme, called Pradhan Mantri Awas Yojana-Urban (PMAY-U), effective from January 1, 2017.

To note, the carpet area of a house has been enhanced to 160 sq m from 120 sq m for middle income

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BoB puts 30 impaired loans worth over Rs 7,400 cr on block
MUMBAI: Bank of Baroda has put on the block 30 impaired loans of over ₹7,400 crore. These include loans to Binani Cement, Essar Steel and Bhushan Power, which are undergoing bankruptcy proceedings but may take longer to reach resolutions as they are mired in litigations.

Other companies on the bank’s list include Jindal India Thermal Power, GTL

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JSW Steel buys 83% in US-based Acero Junction
Mumbai: JSW Steel has completed the acquisition of majority shares in the US-based steel plant Acero Junction Holdings for $80.85 million (approx Rs 550 crore) the company said in a notification to the stock exchange on Thursday.

The company has acquired 83% of the shares of the the steel company in Ohio and the remaining 17% is in the process of

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Trade war's battle lines drawn as US, China set tariff lists
By Andrew Mayeda and Jenny Leonard

The US and China moved to the brink of a trade war on Friday after the Trump administration announced tariffs on Chinese imports would take effect in three weeks and pledged additional investment restrictions, prompting an immediate vow of retaliation from Beijing.

The world’s No. 2 economy will impose tariffs w

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MUMBAI: Collections through organized financial investment plans (SIP) in shared funds increased about 9% in May from April to touch an all-time month-to-month record of 7,304 crore, rebounding from a dip signed up in the first month of FY19. The 614-crore increase comes after collections through SIPs had actually fallen to 6,690 crore in April, compared with 7,119 crore garne
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F O: Options signal a Nifty range between 10,700 and 10,900 levels
By Chandan Taparia Nifty opened flattish and remained volatile for most part of the session on Friday. The index formed a Hammer candle on the daily scale, which indicated that the decline got bought into.

Now, the 50-pack has to hold above the 10,750-10,770 zone to extend its upward move towards the 10,888 level. It has been making higher highs

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Beware financial crimes! And data is your best bet to fight it
By Anurag Jain

The impact of financial crime goes beyond pure economics as it takes enormous social and humanitarian toll on the lives it touches. The perpetrators of financial crime are often hidden in customer or third-party networks that are extensive and spanning the globe.

In the vanguard of financial system, are we doing our bit to curb money

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Higher crude, interest rate may cap GDP at 7.5%: Nomura
Growth in the current fiscal year will be faster in the first half and will likely face pressure in the second half to end the year at 7.5 per cent, a Japanese brokerage said today.

The rate hike by RBI and the the oil prices raise concerns over the sustainability of what was termed as a "cyclical, broad-based recovery", Nomura's chief India

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IT stocks help Sensex end 22 pts higher, Nifty back above 10,800
NEW DELHI: The benchmark equity indices BSE Sensex and NSE Nifty closed in the green on Friday boosted by fag-end buying in IT and pharma counters. The 30-share BSE Sensex closed 22.32 points, or 0.06 per cent, up at 35,622.14, while the 50-share Nifty index settled 9.65 points, or 0.09 per cent, up at 10,817.70.

Tata Consultancy Services rallied

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By Catherine Ngai

After two months of cutting bets on rising prices, hedge funds are feeling optimistic again as OPEC prepares to meet.

Whether that optimism is warranted remains an open question.

Falling output from Iran and Venezuela briefly had analysts touting the possibility of $100-a-barrel oil ahead, and hedge funds boosted wagers on a price

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PSBs write off bad loans worth Rs 1.20 lakh crore in FY18
Public sector banks have written off bad loans worth a whopping Rs 1.20 lakh crore, an amount that is nearly one-and-a-half times more than their total losses posted in 2017-18, according to official data.

This is a double whammy for the struggling PSBs as they had massive write-offs as well as huge losses in the last financial year.

This is for

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TCS announces Rs 16,000 crore buyback
Tata Consultancy Services announced a Rs 16,000 crore buyback which would equal about 2 per cent of its share capital, its second stock repurchase in two years.

India’s largest IT services company said it would repurchase about 7.6 crore shares at Rs 2100 per share, about a 14 per cent premium to the price on the Bombay Stock Exchange. TCS shares w

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Football requires a team of players, and so does investing, which requires a portfolio of stocks to make outstanding returns. Football and investing, in that sense, are very similar.

A football team is composed of 11 players; attackers or commonly known as forwards, midfielders, defenders and a goalkeeper who work in sync to score goals and defend

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Wall Street heads lower on rising China trade tensions
U.S. stocks fell on Friday after the United States announced tariffs on $50 billion worth of Chinese goods, spurring a promise of immediate and equivalent retaliation from Beijing.

President Donald Trump said in a statement that a 25 percent tariff would be imposed on an initial list of strategically important imports from China from July 6 and

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BSE asks brokers to consider excess cash for calculating investors' net obligations
NEW DELHI: BSE has asked brokers to take into consideration excess cash of clients lying with them to calculate their net obligation before levying late payment charges.

The clarification comes following communication from the Securities and Exchange Board of India regarding references from investors that the brokers are levying late payment

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Tata, buy-buy: TCS to buy back Rs 16,000 crore shares again
BENGALURU: Tata Consultancy Services announced its second stock repurchase in as many years — a move likely to nudge peers to follow suit — as India’s largest software exporter offered shareholders a premium of 15% on its scrip.

The ₹16,000-crore buyback, announced before the company’s annual general meeting in Mumbai on Friday, will equal about 2%

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By Lionel LaurentBitcoin's price was supposed to go to the moon. Yet over the past six months, from high to low, the linchpin of the entire cryptocurrency craze has shed 66 percent of its value.

It's an unraveling almost on par with the Nasdaq index during the dot-com bust, or U.S. bank equities in the financial crisis. Thankfully, the wider

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NEW DELHI: Football fever is gripping the investment world as much as soccer fans, with the Fifa World Cup 2018 kicking off.

Globally, brokerages are making projections for potential World Cup winners, just like they do them for stock prices and corporate earnings.

So involved is the financial world with this game of brawn that one analysis

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Jaiprakash Associates to submit plan for home buyers
Jaiprakash Associates Ltd. (JAL) will submit an appropriate proposal before the Supreme Court to protect the interest of its stuck homebuyers.

Last month, JAL was directed by the apex court to deposit ₹1,000 crore in Registry by Friday. This was in addition to ₹750 crore that the company had already deposited with the court’s registry for ensuring

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TCS first Indian firm to close above Rs 7 lakh crore m-cap mark
IT giant Tata Consultancy Services on Friday became the first Indian company to close above the Rs 7 lakh crore mark in terms of market capitalisation. The shares of the company ended at a fresh lifetime high of Rs 1,841.50 after its board approved a share buyback of up to Rs 16,000 crore.

On the BSE, 7.66 lakh shares of the company were traded

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The board of India's IT major Tata Consultancy Services on Friday approved a Rs 16,000 crore share buyback plan, in an attempt to distribute available cash among its shareholders. The company will buy back some 7.6 crore shares under the scheme at a price of Rs 2,100 per share.

TCS promoters hold 71.92 per cent stake in the company. The stock

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Volcker ‘fix& may cause new headaches for Wall Street
WASHINGTON: A proposal to simplify a rule banning banks from proprietary trading, rather than making life easier for Wall Street, could ensnare billions of dollars' worth of assets not currently caught by the regulation

This little-noticed wrinkle, if it were to make it into the final rule, could prompt Wall Street firms to overhaul their

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NEW DELHI: It wasn’t an easy ride for the bulls on Friday, as the bears appeared to be overpowering during intraday trade. But IT majors Infosys and TCS came to their rescue, thus aiding the equity benchmarks settle in the green. Pharma stocks hit a six, whereas RIL scaled fresh lifetime high in an otherwise bearish market.

The 30-share Sensex

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Fitch Ratings revises outlook on Axis Bank to negative from stable
NEW DELHI: Fitch Ratings on Friday affirmed the Long-Term Issuer Default Ratings (IDRs) and Viability Ratings of ICICI Bank and Axis Bank at 'BBB-' and 'bbb', respectively. Also, it has revised the outlook on Axis Bank to negative from stable.

Fitch has also downgraded ICICI's Support Rating to '3', from '2', and revised its Support Rating Floor

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HDFC Bank aims to accelerate 2-wheeler loan growth to 25%
MUMBAI: India’s most valuable lender HDFC Bank plans to accelerate two-wheeler loan growth to nearly 25% in the current fiscal as rural demand picks up amid increased government infrastructure spending and a likely normal monsoon are expected to boost rural incomes.

The bank also became the first lender to finance nearly 12 lakh two-wheelers in a

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Bajaj Electricals to acquire Nirlep Appliances
Mumbai: Leading consumer durables company Bajaj Electricals is set to acquire a majority stake in Nirlep Appliances, the non-stick cookware company, according to a company statement.

Bajaj Electricals has proposed to acquire the entire shareholding of Nirlep for a consideration of Rs.42.50 crore, subject to adjustments of any additional

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Share market update: Inox Wind, NTPC among 20 stocks that hit fresh 52-week lows

NEW DELHI: Shares of SE Power Felix Industries, Simplex Project, Palash Securities, Petron Engg, NTPC, Inox Wind, Assam Company, Precot Meridian, Burnpur Cement, TN Newsprint, Steel Exchange, NCL Industries, ITD Cementation, Ganges Securities, Nakoda Ltd, Bharatiya Glo, Super Spinning, Surana Corp and Antarctica Ltd touched their new 52-week lows

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