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Stock market update: BoB, SBI drag Nifty PSU Bank index down
NEW DELHI: Losses in Bank of Baroda (down 3.21 per cent), IDBI Bank (down 0.71 per cent) and State Bank of India (down 0.66 per cent) were keeping the Nifty PSU Bank index down during morning trade on Monday.

The Nifty PSU Bank was trading 0.51 per cent down at 2,923.35 around 10:40 am.

However, Punjab National Bank (up 1.81 per cent), Syndicate

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ET Intelligence Group: Have stock valuations in India reached such levels that long-term investors and overseas funds find them unattractive Delivery volumes on both Mumbai exchanges seem to indicate just that.

On the NSE and BSE, delivery volumes in May dropped to 33.03 per cent, compared with the fiveyear average of 41.76 per cent, according to

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By Katherine ChiglinskyThe chance to dine with Warren Buffett costs $3.3 million this year.

That was the winning bid for a lunch with the billionaire investor in a week-long charity auction that concluded Friday on EBay Inc.’s website. This year’s price was short of the $3.46 million record, ranking third in the event’s history. For a third strai

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$210 billion of Indian bad debt lures funds hunting for returns
By Anurag Joshi and Lianting TuIndia’s two-year-old bankruptcy law, which gives creditors more power to restructure troubled companies, is luring more and more offshore investors from as far as Canada to buy the nation’s bad debt.

Caisse de dépôt et placement du Québec, a Canadian pension fund manager, has made $600 million available to Edelweiss G

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It was widely expected that Nifty may not see any runaway rally on Friday after the sharp short covering bounce it witnessed in the expiry session on Thursday.

On the expected lines, the last session of the week saw the Nifty opening modestly in the green and spending rest of the session in a falling trajectory. The index ended with a loss of

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After closing on a flat note for the week before last, the week just gone by saw the market end with minor gains. On a week-to-week basis, Nifty gained 91 points, or 0.86 per cent. In our previous weekly note, we had mentioned about the formation of a probable lower top. This formation would still remain the resistance area for the Nifty in the
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Cadila Healthcare rises 2% on USFDA approval to antibiotic drug
NEW DELHI: Shares of Cadila Healthcare gained nearly 2 per cent in Monday's trade after the company received final approval from the USFDA to market Doxycycline Hyclate capsules USP, antibiotic used for treating bacterial infections.

The company which develops, manufactures and markets a broad range of healthcare therapies said that the capsules

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Auditors step up pressure on listed firms, start flagging gaps
Auditors seem to be getting more vocal about financial gaps at listed companies, possibly due to an enhanced regulatory glare, as independent audit reports for a number of publicly traded companies have begun flagging issues like net-worth erosion and lack of necessary disclosures.

In some cases, the auditors have even begun quitting the audit

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Money policy: Will RBI go for Shift Enter this time around
By Suvodeep Rakshit

As the RBI MPC goes into the June policy meeting, the nub will be choosing between maintaining a wait-and-watch strategy and being pre-emptive about incipient adverse risks to inflation.

While we expect the RBI MPC to hold the repo rate in June, we pencil in 50 bps hike in FY19 split between August and October. The MPC votes

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Stock market update: These stocks hold up even as market mood sours
NEW DELHI: Shares of Vakrangee (up 4.97 per cent), Vijaya Bank (3.24 per cent) and Sun TV Network (3.03 per cent) jumped over 3 per cent in morning trade on Monday, appearing among the top gainer stocks, even as equity markets erased gains on selling across sectors.

Stocks such as DR.Reddy's Laboratories (2.86 per cent), Shriram City Union Finance

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How Smart Contracts can impact industries
By Pareen LathiaSmart Contracts are a set of promises that are defined in code and a routine for their implementation. Although the term and theory was coined by Nick Szabo in 1996, it is only after ethereum, the second most popular blockchain project popularised it that there is real implementation being seen today.

Certain aspects of a contract

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RBI finds itself between a rock a hard place this rate review
By DK AggarwalAnecdotes such as better-than-expected GDP data and rising crude oil prices, which have posed additional upside risks to headline inflation, are all pointing towards a more hawkish tone from the Reserve Bank of India (RBI) in its upcoming meeting, which is scheduled on June 4-6.

The dramatic shift in expectations was driven by high

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Dr Reddy's climbs 3% as API plant receives no USFDA observation
NEW DELHI: Shares of Dr Reddy's Laboratories climbed over 3 per cent in Monday's trade after the drug maker said that the USFDA audit of the company's API Srikakulam plant in Andhra Pradesh has been completed with no observations.

The stock rose 3.48 per cent to hit a high of Rs 2,009.05 on BSE. The company made the announcement on Saturday.

The

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To hike rate or not RBI panel to brainstorm for 3 days
Rising inflation and high crude oil prices will weigh on the minds of the six Monetary Policy Committee (MPC) members at their three-day meeting beginning here tomorrow to decide the key policy rate.

The seven-quarter high growth rate of 7.7 per cent in January-March 2018 and forecast of a normal monsoon has reduced the clamour for a cut in the

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NEW DELHI: It was a week marked by high volatility as the May series futures - options contracted expired. Equity benchmarks Sensex and Nifty50 ended the week up nearly 1 per cent despite falling in three out of five sessions, thanks to a big surge in the HDFC twins.

Global concerns such as the US trade war and political unrest in Italy and

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Sebi notice says Chanda Kochhar violated the code of conduct
India’s capital market regulator has said in a show cause notice that ICICI Bank’s chief executive Chanda Kochhar didn’t adhere to its code of conduct, which required the disclosure of any conflict of interest in the case involving Videocon Group and NuPower Renewables, a firm owned by her husband Deepak Kochhar.

The show cause notice also said

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​China warns trade deals off if US imposes tariffs
BEIJING: China warned Sunday after another round of talks on a sprawling trade dispute with Washington that any deals they produce ``will not take effect'' if President Donald Trump's threatened tariff hike on Chinese goods goes ahead.

The warning was issued one hour after delegations led by U.S. Commerce Secretary Wilbur Ross and China's top

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The domestic market had a rollercoaster week; it started on a negative note on account of the political crisis in Italy, but later sharply bounced back cheering good corporate numbers.

The market showed divergent behaviour with the frontline stocks inching higher whereas smallcaps and midcaps got bruised badly.

It was because the HDFC twins and

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Stock market update: HDFC Bank plunges over 2% after 52-week high
NEW DELHI: HDFC Bank went into the reverse and tanked over 2 per cent early Monday.

The slide came after the scrip hit a new 52-week high. The stock opened at Rs 2,154.20 and added nearly 3 per cent to hit the mark.

Market participants are expecting that foreign Institutional Investors (FIIs) may buy up to 4.3 crore shares to increase their stake

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FPI outflows hit 18-month high of Rs 29,714 cr in May
Foreign investors pulled out a massive Rs 29,714 crore from the capital markets in May, making it the biggest outflow in 18 months, primarily due to a surge in global crude prices.

This comes following an outflow of Rs 15,561 crore from the capital markets (equity and debt) in April. Prior to that, foreign investors had pumped in Rs 2,662 crore in

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US tariffs to hit Indian metal stocks
KOLKATA/MUMBAI: The US decision to impose a tariff of 25 per cent on steel and 10 per cent on aluminium imports from Canada, Mexico and the EU, revoking the temporary exemption, is likely to impact metal stocks like JSW Steel, JSPL, Tata Steel, Hindalco which have exposure to export markets in the US and Europe.

“We believe that there would be s

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Stock market update: Sensex, Nifty lose steam; these stocks plunge up to 10%
NEW DELHI: Shares of Kwality (down 9.91 per cent), PC Jeweller (down 9.60 per cent) and Ganesh Housing (down 8.50 per cent) plunged up to 10 per cent in the early trade on Monday as market erased opening gains due to selling across sectors.

Shankara Building Products (down 7.37 per cent), Kellton Tech Solutions (down 6.84 per cent), Ajmera Realty

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ONGC logs Rs 4,000 cr loss on gas production due to cap on prices
State-owned Oil and Natural Gas Corp (ONGC) logged a Rs 4,000 crore loss on natural gas output in the fiscal year ended March 31, 2018 as the government mandated price for the fuel was less than the cost of production.

"We need at least USD 4 per million British thermal unit to break-even as compared to current gas price of USD 3.06 per mmBtu," a

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MUMBAI: With benchmark local debt yielding about 5 percentage points more than comparative US bonds, India should continue to draw global investors despite the country’s capital costs exceeding those of other competing emerging economies such as Indonesia, Russia, South Korea, or Mexico. Since the first week of April, Indian yields have climbed
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Waitover: Banks plan to sell Rs 28,000 crore NPAs
Top lenders, including ICICI Bank and SBI, are looking at selling a part of their bad loan portfolio to asset reconstruction companies in the coming weeks instead of waiting for the resolutions.

Seven banks, including SBI, ICICI Bank and IDBI Bank, are in the process of selling outstanding loans totaling a little less than Rs 28,000 crore. SBI and

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6 of top 10 cos add Rs 50,248 crore in m-cap
The combined market valuation of six of the 10 most valued companies rose by Rs 50,248.15 crore last week, with HDFC Bank emerging as the biggest gainer.

While RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, Maruti Suzuki India and Kotak Mahindra Bank saw gains in their market capitalisation (m-cap) for the week ended Friday, Tata Consultancy

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Vedantaother businesses to offset impact: Moody&s
KOLKATA: The permanent closure of Vedanta’s Thoothukudi copper smelter will reduce the company’s scale and business diversity, adding pressure to its other businesses to maintain their strong performance and make up for decline in revenue, global ratings agency Moody’s Investors Service said.

However, Moody’s said it expects Vedanta’s other bus

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Stock market update: HDFC Bank, ICICI Bank most active stocks in terms of value
NEW DELHI: HDFC Bank (Rs 2496.41 crore) and ICICI Bank (Rs 107.35 crore) were the most active stocks in terms of value on NSE in the morning trade on Monday.

Sebi has said in a showcause notice that ICICI Bank's chief executive Chanda Kochhar didn't adhere to its code of conduct, which required the disclosure of any conflict of interest in the

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RBI meet, progress in monsoon among 6 factors that may guide market this week
NEW DELHI: With earnings season behind us, investor focus will now shift to the progress in monsoon and the Reserve Bank of India’s second bimonthly monetary policy review, which starts Monday.

The domestic equities witnessed seesaw trade last week, with the bulls retaining an upper hand. A government data showed that India reported 7.7 per cent

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Large banks led by State Bank of India (SBI), ICICI Bank and Punjab National Bank (PNB), and the country’s biggest mortgage financier Housing Development Finance Corp (HDFC) raised benchmark lending rates by 10 to 20 basis points, confirming that the upward move in interest rates was here to stay.

SBI raised its benchmark marginal cost of funds

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