StockMarket

Stock market update: IT stocks in the positive territory; TCS, Infosys top gainers in Nifty IT pack
NEW DELHI: Most IT stocks were trading in the positive territory during Wednesday's trade amid a fresh fall in Indian rupee against the US dollar.

The Nifty IT index was trading 1.36 per cent up at 14,049 around 02:40 pm, with Tata Consultancy Services (up 2.53 per cent) and Infosys (up 1.53 per cent) as the top gainers.

Shares of Infibeam

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Rakesh Jhunjhunwala tunes in to Dish TV Stock up over 3%
Dish TV rallied over 3 per cent on Wednesday as a chunk of its shares changed hands in multiple block deals.

According to an ETNow report, marquee investors such as Rakesh Jhunjhunwala, East Bridge and Ohm Group are likely to be buyers in one such deal today, which is priced at Rs 71.25 per share.

Around 5.50 crore shares were traded in five

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Stock market update: Over 10 stocks hit 52-week highs on NSE
NEW DELHI: Over 10 stocks including Avenue Supermarts, GlaxoSmithKline Pharmaceuticals, Infosys and Intellect Design Arena hit 52-week highs on NSE during Wednesday's trade.

As per PTI, Avenue Supermarts, the operator of retail chain D-Mart, closed Tuesday's trading session with over Rs 1 lakh crore market capitalisation mark.

MM Forgings, NRB

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Stock market update: Pharma stocks bullish, surge up to 5%
NEW DELHI: Most pharma stocks were trading in the positive territory during afternoon trade on Wednesday.

Pharma majors Cadila Healthcare (up 4.93 per cent), Dr. Reddy's Laboratories (up 3.95 per cent), Cipla (up 2.90 per cent), Lupin (up 2.36 per cent), Sun Pharmaceutical Industries (up 1.91 per cent) and Aurobindo Pharma (up 0.24 per cent) were

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Miners lead Australian shares lower, NZ rallies to record close
Mining stocks led Australian shares lower on Wednesday ahead of the US Federal Reserve's rate decision, with investors on the lookout for any mention of the pace of hikes this year.

Markets expect the Fed to raise rates for the second time in the year but caution prevails as investors await its language on the pace of further tightening.

The

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Ruchi Soya moves up 3% as bidding hots up
NEW DELHI: Ruchi Soya Industries pulled higher by 3 per cent on Wednesday as Adani Wilmar emerged as the highest bidder for the bankrupt firm.

Adani Wilmar, a joint venture between the infrastructure conglomerate founded by Gautam Adani and Singapore’s Wilmar, has trumped Ramdev-backed Patanjali Ayurved, ET reported.

At 9.40 am, the stock was

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Stock market update: Auto stocks move upward; Eicher Motors, Tata Motors among gainers
NEW DELHI: Most auto stocks including Bharat Forge (up 1.62 per cent), Bajaj Auto (up 1.17 per cent), Exide Industries (up 0.79 per cent) and Eicher Motors (up 0.75 per cent) were trading with gains during afternoon trade on Wednesday, keeping the sectoral index up.

The BSE Auto index was trading 0.43 per cent up at 25,108 around 02:25 pm.

Shares

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Nikkei edges higher ahead of Fed decision; Toshiba jumps
TOKYO: Japanese stocks edged higher on Wednesday but gains were limited as many investors awaited the US Federal Reserve's policy decision later in the day, while Toshiba jumped after announcing a major share buyback.

Toshiba Corp surged 6.7 percent after saying it would buy back up to about 700 billion yen ($6.33 billion) of its shares.

The

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Loan books, credit deposit ratios plunge for PSBs under prompt corrective action
MUMBAI: The fallout of RBI imposing prompt corrective action (PCA) rules on 11 state-run banks has been that their loan book and credit deposit ratio has been on a rapid decline. While the combined loan book of the banks under PCA slid 11 per cent since FY2015, the credit-todeposit ratio was less than 65 per cent.

This when CD ratios of private

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NEW DELHI: Calendar 2018 has been pretty bad for the midcap pack, which has lost 12 per cent, on an average, from the January highs. Yet, there are exceptions.

Select stocks have not only managed to go unscathed in the mayhem but also added to the gains they had logged in 2017.

Do they offer scope for further upside at this stage

The list of

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Stock market update: Telecom biggies falter after Reliance Jio launches new prepaid plan
NEW DELHI: Telecom biggies Idea Cellular (down 4.76 per cent), Bharti Airtel (down 0.67 per cent) and Bharti Infratel (down 0.12 per cent) were incurring losses during Wednesday's trade after Reliance Jio announced a new cheaper prepaid plan for its consumers.

Reliance Jio has announced that all its prepaid users will get 1.5 GB data more. This

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Page Industries goes up 2% on licence extension
Page Industries looked good on Tuesday with a gain of over 2 per cent on extension of its licence agreement with Jockey International.

The same is now valid till December 31, 2040.

The scrip was up 2.43 per cent at Rs 25,275.65 at around 9.35 am. The BSE Sensex jumped 100.77 points, or 0.28 per cent, to 35,793.29.

The company posted 41 per cent

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Second tranche of Bharat-22 ETF on June 19; govt to get up to Rs 8,400 crore
NEW DELHI: The Finance Ministry will launch the second tranche of Bharat-22 exchange traded fund (ETF) on June 19 which will help raise up to Rs 8,400 crore from the markets.

The issue will open for anchor investors on June 19 and for other institutional and retail investors the next day. The ETF follow on offer will remain open till June 22.

The

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U-turn on bitcoin Government panel may allow cryptos with riders
Crypto-currency followers, here’s a piece of good news for you.

A panel formed by the government to look into crypto-currency does not seem to be in favour of banning it. Instead, it may suggest allowing crypto-currency with riders, ETNow reported quoting Cogencis.

On April 6, RBI through its notice titled ‘Prohibition on dealing in virtual c
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Stock market update: Private bank stocks mixed; RBL Bank, Axis Bank jump over 2%
NEW DELHI: Private bank stocks were trading mixed during the first half of Wednesday's trading session.

The Nifty Private Bank index was trading 0.27 per cent up at 15,094 around 10:40 am, with 6 stocks in the green and 4 in the red.

Shares of RBL Bank (up 2.83 per cent) and Axis Bank (up 2.04 per cent) were the top gainers in the index.

IDFC

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Stock market update: Metal mining stocks trade mixed; Hindalco climbs over 2%
NEW DELHI: Metal - mining stocks were trading mixed during afternoon trade on Wednesday.

Shares of Hindalco Industries (up 2.33 per cent), JSW Steel (up 0.95 per cent), Coal India (up 0.35 per cent) and Steel Authority of India (SAIL) (up 0.22 per cent) were in the green.

On the other hand, Nalco (down 2.39 per cent), Tata Steel (down 2.10 per

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Stock market update: Smallcaps in line with Sensex; Jubilant Industries surges up to 20%
NEW DELHI: The smallcap index was in sync with benchmark Sensex during Wednesday's trade.

Around 12:25 pm, the BSE Smallcap index was 0.29 per cnet up at 17,114, while the BSE Sensex was also up by 0.29 per cent at 35,796. The Nifty50 was 0.22 per cent up at 10,867.

Shares of Jubilant Industries (up 19.97 per cent) and Adlabs Entertainment (up

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PNB board to consider ESOP scheme of up to 10 crore shares
NEW DELHI: State-run Punjab National Bank (PNB) today announced an ESOP scheme with a view to retaining its talent and incentivising staff by issuing up to 10 crore equity shares.

The bank said it will issue up to 10 crore equity shares to its employees under 'Employee Stock Purchase Scheme (ESPS)'.

A note is being placed to board in its ensuing

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Rupee to rebound but path rife with pitfalls
BENGALURU: The Indian rupee will erase some of this year's losses against the dollar over the coming 12 months but high volatility in the run up to general elections in 2019 could send it off-piste, a Reuters poll found.

A selloff in emerging markets and a widening fiscal deficit, exacerbated by rising oil prices - India's biggest import bill -

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Stock market update: Midcaps in sync with benchmark Sensex; Vakrangee, Page Industries among gainers
NEW DELHI: In line with benchmark Sensex, the midcap index too was trading with small gains during Wednesday's trade.

The BSE Midcap index was trading 0.18 per cent up at 16,180 around 12:20 pm, while the BSE Sensex was 0.26 per cent up at 35,785.

The Nifty50 was 0.22 per cent up at 10,867 around that time.

Shares of Housing and Urban Development

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ETMarkets Evening Podcast: Market extends gains; what next
You are listening to ETMarkets Evening Podcast.

This is Abhinav Kaul and here is today’s market wrap, plus sharp analyses from the voices who matter.

There was no looking back for the bulls today. They made a steady climb, looking forward to more positives from the Trump-Kim summit.

The path-breaking summit is a proof that both the US and North

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Stock market update: PC Jeweller, Titan, Rajesh Exports keep consumer durables index up
NEW DELHI: Gains in shares of PC Jeweller (up 5.23 per cent), Titan Company (up 1.77 per cent) and Rajesh Exports (up 0.83 per cent) were keeping the consumer durables index in the higher terrain during Wednesday's trade.

The BSE Consumer Durables index was trading 0.83 per cent up at 20,868 around 01:15 pm.

However, Blue Star (down 1.68 per

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Stock market update: Over 30 stocks hit 52-week lows on NSE despite positive market mood
NEW DELHI: Defying positive market sentiment, over 30 stocks including Arrow Greentech, Hindustan Aeronautics, Khaitan Electricals and Kwality hit 52-week lows on NSE during Wednesday's trade.

Manpasand Beverages, Mohit Industries, Pratibha Industries, Ramsarup Industries, Sundaram Finance Holdings, Uniphos Enterprises, Videocon Industries and

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Indian market handled to post decent gains on Tuesday despite experiencing high volatility during the session. The NSE criteria Nifty rose by 55.90 points or 0.52 per cent. However, it was the 2nd day in a row when the market resisted the 10,820-10,850 levels. After withstanding this vital zone for the whole session, the Nifty closed extremely close
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Stock market update: Oil gas index slips; ONGC top drag
NEW DELHI: Most oil - gas stocks including Indraprastha Gas (down 1.86 per cent), Petronet LNG (down 1.20 per cent) and ONGC (down 0.88 per cent) were incurring losses during afternoon trade on Wednesday.

The BSE Oil - Gas index was trading 0.29 per cent down at 14,614 around 01:05 pm.

HPCL (down 0.80 per cent), GAIL (India) (down 0.58

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Top intraday trading ideas for afternoon trade for Wednesday, 13 June 2018
NEW DELHI: The Nifty50 index was trading 28 points up at 10,871 around 12 pm on Wednesday following buying in frontline bluechip counters.

ETMarkets.com collated a list of trading ideas from various experts and here's what they had recommended for today's afternoon trade:

Sagar Doshi, head technical analyst of Edelweiss BrokingCholamandalam

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Sebi panel to mull ways to make listing attractive for startups
To make stock market listing attractive for startups, regulator Sebi has set up a panel that will look at ways to ease such listings as the existing institutional trading platform framework failed to gain "any traction".

The group will review the present Institutional Trading Platform (ITP) framework in the current context as well as identify

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Stock market update: Capital goods index down; L T, BEL drag
NEW DELHI: The BSE Capital Goods index was trading 0.31 per cent down at 18,699 around 12:50 pm with Sadbhav Engineering (down 2.46 per cent) and CG Power and Industrial Solutions (down 2.16 per cent) as the top losers.

Shares of Bharat Electronics (BEL), Carborundum Universal, Kalpataru Power Transmissions, Siemens, Graphite India and Va Tech

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Wrong stock calls! For a change, top fund managers admitting them
Going with the flow is no big deal. The real test is when you need to take your boat up the stream. This life mantra applies everywhere, even in the equity market.

Market mavens on Dalal Street enjoyed their good times over the past four years and fetched good followers on social media when midcap and smallcap ideas were selling like hot cakes.

Ev

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RBI rate hike to impact India Inc's capex: CII
Mumbai: Rate hike by the Reserve Bank will increase the cost of doing business and impact capital expenditure by India Inc, industry body CII warned today.

"The cost of doing business goes up because of the hike and it will impact capex (capital expenditure) by the industry," Confederation of Indian Industry (CII) president and vice-chairman of

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