StockMarket

Why this firm is way ahead of Wall Street on bitcoin
By Nathaniel Popper

SAN FRANCISCO: While a number of large financial institutions have discussed trading bitcoin, one firm has already begun doing it. Very quietly.

The financial firm, Susquehanna International Group in Bala Cynwyd, Pennsylvania, just outside Philadelphia, is one of the largest players in trading traditional investments like stocks,

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Biocon-Mylan win US nod for another biosimilar drug
MUMBAI: Biocon-Mylan won US approval for their second biosimilar drug on Tuesday, a little over six months after their first such offering was accepted.

The US Food and Drug Administration approved pegfilgrastim, a drug used to increase the white blood count of cancer patients, Biocon and Mylan said in a statement on Tuesday. The drug, branded

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Raghuram Rajan sees EM stress but no Asia 'clear and present danger'
By Enda Curran and Andrew JanesEmerging markets will face stress as they cope with a stronger dollar and rising interest rates but Asia appears to be insulated, for now, according to Raghuram Rajan, former governor of the Reserve Bank of India.

Tipping the Federal Reserve to raise interest rates another three times this year, Rajan said that

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Stock market update: Oil gas stocks rise, but HPCL, GAIL, IOC damp squib
NEW DELHI: Shares of most oil marketing firms were trading up during afternoon trade on Wednesday, keeping the sectoral index up.

However, losses in HPCL (down 1.39 per cent), GAIL (India) (down 0.96 per cent) and Indian Oil Corporation (down 0.49 per cent) were keeping the ascend restricted.

The BSE Oil - Gas index was trading 0.10 per cent

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Biocon-Mylan win US nod for another biosimilar drug
MUMBAI: Biocon-Mylan won US approval for their second biosimilar drug on Tuesday, a little over six months after their first such offering was accepted.

The US Food and Drug Administration approved pegfilgrastim, a drug used to increase the white blood count of cancer patients, Biocon and Mylan said in a statement on Tuesday. The drug, branded

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Stock market update: Bajaj Electricals, Titan, PC Jeweller drag consumer durables index down
NEW DELHI: Strong losses in Bajaj Electricals (down 6.71 per cent), PC Jeweller (down 3.69 per cent), Symphony (down 2.70 per cent) and Titan Company (down 2.59 per cent) dragged consumer durables index down in Tuesday's trade.

The BSE Consumer Durables index was trading 1.49 per cent down at 19,897 around 02:10 pm.

TTK Prestige (down 0.84 per

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MUMBAI: Around 1,500 fixed deposit holders who had invested in Raj Oil Mills, the makers of Cocoraj Coconut Hair Oil brand, have reasons to celebrate. After the company was referred to the bankruptcy court, FD holders had given up hopes of recovering their money. But lenders have decided to repay FD holders their dues in full, setting a precedent
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MUMBAI: Leading alloy steel maker Kalyani Steels and Swiss trading company IMR Metallurgical are in a race to acquire SBQ Steels, a bankrupt company that has an integrated plant located at Krishnapatnam in Andhra Pradesh, two senior bank officials, who did not want to be identified, said. Apart from these two bidders, Shyam Metalics and Orissa
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Crude price surge may widen CAD by $22-31 billion in FY19
A combination of elevated crude oil price and weak rupee, if sustained for more than a quarter, will have an adverse impact on India’s current account position, inflation, monetary policy stance and fiscal balance, India Ratings and Research (Ind-Ra) said in a report.

The rating agency said that if crude basket averages $68-72.86 a barrell and

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Stock market update: Sugar stocks mixed; Uttam Sugar Mills, Balrampur Chini Mills gain
NEW DELHI: Sugar stocks were trading mixed on Wednesday a day after registering decent gains in anticipation of the government announcing a bailout package for cash-starved mills to clear dues to farmers.

Thiru Arooran Sugars (up 4.20 per cent), DCM Shriram Industries (up 3.75 per cent), Uttam Sugar Mills (up 3.73 per cent) and KCP Sugar -

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Stock market update: Sensex, Nifty tread higher; these stocks jump over 15%
NEW DELHI: Shares of Shri Bajrang Alloys (18.43 per cent) and Starlit Power Systems (15.48 per cent) jumped over 15 per cent on BSE in morning trade on Wednesday, while equity markets were in the positive terrain ahead of RBI's policy meet outcome.

Stocks such as Bella Casa Fashion - Retail (14.13 per cent), BNR Udyog (13.64 per cent), Josts

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European shares' recovery loses steam as financials weigh; tech gains
MILAN, - A two-day recovery in European shares lost steam on Tuesday as the lack of progress in US-China trade talks and political noise in Italy kept investors cautious.

While strength among tech stocks on the back of a record close for the Nasdaq overnight helped limit losses, financials were a drag with shares in RBS falling more than 3 per

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Stock market update: Over 20 stocks hit 52-week highs on BSE
NEW DELHI: Shares of ABans Enterprises, Affordable Robotic - Automation, Apollo Finvest (India) and Bio Green Papers hit 52-week highs on BSE during Wednesday's trade.

Capital India Finance, Coastal Corporation, Galaxy Bearings, Megastar Foods, Nimbus Industries, Rama Petrochemicals and Swaraj Automotives also featured among stocks that hit

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Hedge funds shift big short in bonds
By Brian Chappatta

Hedge funds and other large speculators are trying to catch one of the biggest falling knives in financial markets.

They’re wagering, essentially, that the persistent flattening of the US yield curve has run its course. It’s a bet against what’s been one of the $14.9 trillion Treasury market’s clearest no-brainer trades, which has

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Stock market update: Capital goods index cracks 2%; Welspun Corp top loser
NEW DELHI: The BSE Capital Goods index was trading 2.01 per cent down at 18,088 around 2 pm on Tuesday with Welspun Corp (down 8.43 per cent) as the top loser.

Sadbhav Engineering (down 7.05 per cent), Graphite India (down 5 per cent) and Reliance Naval and Engineering (down 4.79 per cent) were also suffering strong losses.

Shares of Siemens, Va

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Temasek to infuse Rs 200-300 crore more into Fullerton
MUMBAI: Temasek Holdings will infuse a further Rs 200-300 crore into its wholly-owned Indian non-banking financial arm, Fullerton, as Singapore’s sovereign investor seeks high growth fuelled by demand for loans from small enterprises, rural housing and mortgages in the world's fastest expanding economy.

Fullerton’s consolidated loan book grew at a

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Cadila up 2% as Gujarat plant gets no USFDA observation
Cadila Healthcare rallied over 2 per cent on the news that the USFDA has completed the audit of company’s wholly-owned subsidiary with no observations.

The scrip was up 2.14 per cent at Rs 356.10 at around 9.45 am whereas BSE Sensex rose 64 points, or 0.18 per cent, to 34,967.

In a BSE filing, Cadila Healthcare said, “The USFDA inspected the m

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China stocks climb as survey shows steady services growth
SHANGHAI: China stocks firmed on Tuesday, after a private survey showed the services sector expanded at a steady pace in May, while pharmaceutical sector gained the most.

The blue-chip CSI300 index rose 1.0 per cent to 3,845.32, while the Shanghai Composite Index ended up 0.7 per cent at 3,114.21.

China's services sector expanded at a solid pace

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Stock market update: Over 230 stocks hit 52-week lows on NSE
NEW DELHI: Over 230 stocks including South West Pinnacle Exploration, Autolite India, JBF Industries and Kwality hit 52-week lows on NSE during Wednesday's trade.

Manpasand Beverages, Arrow Greentech, Panache Digilife, Lasa Supergenerics, Soma Textiles, Barak Valley, Empee Distilleries, Regency Ceramic and Pincon Spirit also featured among stocks

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Stock market update: Realty stocks build gains ahead of RBI's policy outcome; IB Real Estate jumps 5%
NEW DELHI: Most realty stocks were trading in the positive terrain during morning trade on Wednesday ahead of RBI's policy meet outcome.

The Nifty Realty index was trading 1.51 per cent up at 283 around 10:25 am.

The central bank will announce its bimonthly monetary policy on Wednesday amid expanding economic growth and the recent increase in

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Stock market update: Telecom index top sectoral loser; Idea Cellular tanks 8%
NEW DELHI: The BSE Telecom index was trading as the top loser among the sectoral indices on BSE in Tuesday's trade.

The index was trading 3.17 per cent down at 1,150 around 01:45 pm, with 15 stocks declining while only 2 -- GTL (up 0.74 per cent) and Himachal Futuristic Communications (up 0.40 per cent) -- advacning.

Idea Cellular (down 7.89 per

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Avanti Feeds rallies 8% as company makes right noises
Avanti Feeds put its dismal show behind and rallied over 8 per cent on Wednesday morning as a top executive tried to calm nerves about the state of affairs in the company.

Managing Director Indra Kumar told ETNow that shrimp demand has normalised and the company has order for the next 6 months.

The scrip was trading 8.67 per cent up at Rs 1,471

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Stock market update: Auto stocks rise ahead of RBI policy outcome; Eicher Motors, Tata Motors climb 1%
NEW DELHI: Most auto stocks were trading with gains ahead of RBI's policy meet outcome, due later today.

The Nifty Auto index was trading 0.57 per cent up at 11,050 around 10:15 am on Wednesday.

Shares of Eicher Motors (up 1.43 per cent), Apollo Tyres (up 1.36 per cent), Tata Motors (up 0.88 per cent), Exide Industries (up 0.87 per cent) and Bajaj

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Stock market update: RIL, Petronet LNG keep oil gas index in the green
NEW DELHI: The BSE Oil - Gas index was trading 0.11 per cent up at 14,352 around 01:30 pm on Tuesday, backed by gains in Reliance Industries (RIL) (up 1.34 per cent), Petronet LNG (up 0.83 per cent) and HPCL (up 0.40 per cent).

On the other hand, Indraprastha Gas (down 2.35 per cent), GAIL (India) (down 1.09 per cent) and Castrol India (down

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NEW DELHI: Smallcaps are officially in the ‘bear market’ now. And retail investors are struggling to understand what is wrong with them and whether they should hold on or book losses.

Fundamental and technical analysts ETMarkets.com spoke to say not one but multiple factors are weighing on the smallcap stocks. They do not see respite anytime

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Bharat Financial gets bourses' nod for merger with IndusInd
Micro-lender Bharat Financial Inclusion Ltd (BFIL) today said it has received no-objection nod from stock exchanges for its merger with private sector lender IndusInd Bank.

BFIL (earlier SKS Microfinance) said it received no-objection from the NSE on June 1 and from BSE on June 4 for its proposed merger with IndusInd Bank following the feedback

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Nikkei's rebound runs into resistance at 25 day average, start-ups fall
By Hideyuki Sano and Tomo Uetake

TOKYO:A recovery in Japanese shares ran out of steam on Tuesday as the Nikkei average faced stiff resistance at its 25-day average, but sentiment was underpinned by stellar US jobs data last week and a weakening yen.

The Nikkei share average closed 0.3 percent higher at 22,539.54 points, after failing to sustain

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Stock market update: These stocks defy positive market sentiment, plunge up to 10% on BSE
NEW DELHI: Shares of Majestic Research Services and Solutions (down 10 per cent), Fiberweb (India) (9.99 per cent) and Ganges Securities (9.97 per cent) plunged up to 10 per cent on BSE during Wednesday's trade in an otherwise positive market.

Shares of Focus Suites Solutions - Services (9.90 per cent), Authum Investment - Infrastructure

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US rate hike coming Macros can do the talking for India
NEW DELHI: The US economy is on a firm footing. It's a zone of comfort for higher rates by the Federal Reserve, which would push ahead to unwind its bloated balancesheet. That's how Chetan Kishore Ahya, Morgan Stanley MD, looks at the entire rate dynamics.

This will make things tougher for those emerging markets which do not have their house in

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Stock market update: Auto stocks on a bumpy ride; M M, Tata Motors among top losers
NEW DELHI: Shares of automakers Mahindra - Mahindra (M-M) (down 1.45 per cent), Ashok Leyland (down 1.36 per cent), Exide Industries (down 1.35 per cent) and Tata Motors (down 1.13 per cent) were incurring losses during afternoon trade on Tuesday.

The Nifty Auto index was trading 0.43 per cent down at 10,976 around 01:15 pm.

Shares of

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