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Politics to set Streetcourse, say brokerages
MUMBAI: Rising political risk is going to be headwind for the Indian equity markets as next year’s general election draws nears, according to leading brokerages.

Opposition parties emerged victorious in 11 out of the 14 Lok Sabha and Assembly by-polls. The Bharatiya Janata Party lost the important Kairana parliamentary seat in Uttar Pradesh.

CLSA s

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Stock market update: 15 stocks touch 52-week highs on NSE on Friday
NEW DELHI: Dabur India, Firstsource Solutions, Godrej Consumer Products, Hindustan Unilever, Nestle India and Pfizer appeared among the 15 stocks that touched 52-week highs on NSE on Friday.

On the contrary, as many as 151 stocks including Adani Power, Ambuja Cements, Aurobindo Pharma, Bharat Electronics, BEML, Caplin Point Laboratories, GMR

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CG Power extends losses, hits over 2-year low
NEW DELHI: Shares of CG Power and Industrial Solutions, which supplies industrial machinery such as motors and generators, fell nearly 13 per cent to Rs 53.85 on Friday, its lowest since April 2016.

During the session, more than 37.5 million shares traded against their 30-day moving average of 2.3 million.

The stock is on track to post losses for

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Sebi bars Mallya from securities market for 3 years
MUMBAI: Securities and Exchange Board of India (Sebi) has barred Vijay Mallya from accessing the securities market for three years and holding any position as director or key managerial person of a listed company for five years for his involvement in fraud.

The ban starts from the date of the order, the regulator said on Friday.

Sebi has also

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Don't cheer GDP print too much, it can only make life hard for us
NEW DELHI: When March quarter GDP print delighted investors on Thursday, some economists were busy counting the next headwind: an interest rate hike.

Some see it coming as early as next week in June money policy review, while some others expect it in August. When it happens, it would increase cost of borrowing for Indian industry, which has been

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Fortis shortlists 4 entities for stake sale
NEW DELHI: Fortis Healthcare today said it has shortlisted four entities -- the Munjal-Burman combine, Manipal-TPG consortium, Malaysia's IHH Healthcare Berhand and Radiant Life Care to bid for the sale of its business.

In a regulatory filing, Fortis said it has received interest from various parties on May 31, as per the timeline specified in

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MUMBAI: Fearing a backlash from regulatory agencies around corporate governance standards many firms are dropping their auditing assignment like hot potatoes.

Since January this year more than 30 firms have resigned as auditors of companies midterm, compared to about 7 auditor resignations in 2017, as per data collated by Prime Database.

In the

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Stock market update: 151 stocks hit 52-week lows on NSE on Friday
NEW DELHI: As many as 151 stocks including Adani Power, Ambuja Cements, Aurobindo Pharma, Bharat Electronics, BEML, Caplin Point Laboratories, GMR Infrastructure and Tata Consultancy Services hit 52-week lows on NSE on Friday.

Indian equity benchmarks landed in the negative terrain on Friday as losses in bank, financial and FMCG counters outpaced

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S P revises Deutsche Bank rating to 'BBB+' from 'A-'
FRANKFURT: Standard - Poor's on Friday downgraded Deutsche Bank's credit rating to BBB+ from A- on concerns about the troubled lender's ability to revamp its operations.

S-P in April placed Deutsche Bank on "credit watch" for a possible downgrade, saying a sudden change in chief executive could prolong the lender's restructuring.

The

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Sebi imposes 3-year ban on Vijay Mallya for illegal fund diversions
MUMBAI: The Securities and Exchange Board of India (SEBI) has barred Vijay Mallya from accessing the securities market for three years and holding any position as director or key managerial person of a listed company for five years for his involvement in fraud.

The ban starts from the date of the order, the regulator said on Friday.

SEBI has also

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Stock market update: HDFC Bank, Maruti Suzuki most active stocks in value terms
NEW DELHI: HDFC Bank (Rs 1,119.31 crore) finished Friday's session as the most active stock in terms of value on NSE.

Maruti Suzuki (Rs 876.99 crore) and ICICI Bank (Rs 868.94 crore) were up next in the league of most traded stocks in value terms.

Reliance Industries (Rs 812.53 crore), Tata Steel (Rs 524.51 crore), Bajaj Auto (Rs 516.50 crore),

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Top intraday trading ideas for afternoon trade for Friday, 1 June 2018
NEW DELHI: The Nifty50 index was trading flat around 11:35 am on Friday as gains in Bajaj Auto, Vedanta, Maruti and Tata Motors were offset by losses in Power Grid Corporation, ONGC, Eicher Motors and Bajaj Finserv.

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

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Idea to become Vodafone Idea; plans to raise Rs 15,000 crore
MUMBAI: The board of Idea Cellular has called for an extraordinary general meeting (EGM) on June 26 to approve changing the name of ‘Idea Cellular Limited’ to ‘Vodafone Idea Limited’, as the merger of India's second and third ranked telcos nears completion.

The EGM will also consider the board's plan to raise funds via nonconvertible securities of

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Stock market update: Top Nifty gainers and losers of Friday's session
NEW DELHI: Shares of Bajaj Auto, Maruti Suzuki India, Bharti Airtel, Hero MotoCorp, Hindalco Industries and Tata Motors finished Friday's trade as the top gainers of Nifty index.

On the other side of the spectrum, Bajaj Finserv, ONGC, Eicher Motors, Tata Steel, GAIL (India) and Mahindra - Mahindra stood among the top losers in the Nifty index.

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Stock market update: Dabur, Godrej Consumer Products, HUL among stocks that touched 52-week highs on NSE
NEW DELHI: Astral Poly Technik, Dabur India, Firstsource Solutions, Godrej Consumer Products, Hindustan Unilever (HUL), KPIT Technologies, Nestle India and Pfizer featured among stocks that touched 52-week highs on NSE during Friday's trade.

By 11:30 am, as many as 12 stocks had hit 52-week highs on NSE.

On the other hand, over 80 stocks including

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Legal General sells 26% in IndiaFirst to Warburg Pincus
Legal and General is exiting the insurance business in India by selling its entire 26 per cent stake in IndiaFirst Life Insurance to an affiliate of Warburg Pincus LLC (Warburg Pincus).

While the company did not disclose the exact transaction value, sources with access to information said the deal size was around Rs 710 crore.

It is subject to

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Tech View: Nifty50 forms bearish candle as bulls bears fight it out
NEW DELHI: Nifty50 on Friday signed off the week with a bearish candle on the daily chart. The index did not generate any sell signal on the technical chart. In fact, it formed higher highs and higher lows for the day and is likely to face resistance around the 10,800 mark next week.

The key overhead resistance of 10,760-780 levels weighed on the

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Stock market update: Over 80 stocks hit 52-week lows on NSE
NEW DELHI: Over 80 stocks including Ajanta Pharma, Apollo Hospitals Enterprise, BEML, Caplin Point Laboratories and Century Textiles - Industries hit 52-week lows on NSE during Friday's trade.

Engineers India, Indian Hume Pipe Company, Jaiprakash Power Ventures, Manpasand Beverages, MBL Infrastructures and Pratibha Industries also featured

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Closure of Vedanta's copper plant credit negative: Moody's
The permanent closure of Vedanta Resources Plc's copper operations in India is marginally credit negative as it will lower the company's scale and business diversity, Moody's Investors Service today said.

The Tamil Nadu government on May 28 ordered the state pollution control board to seal and "permanently" close the Vedanta group's Sterlite

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Stock market update: RCom, GMR Infra most traded stocks on NSE on Friday
NEW DELHI: With over 21.60 crore shares changing hands, Reliance Communications emerged as the most traded stock on NSE on Friday.

It was followed by GMR Infrastructure (number of shares traded: 15.49 crore).

Vakrangee (5.80 crore), CG Power and Industrial Solutions (5.49 crore), Jaiprakash Associates (3.67 crore), Suzlon Energy (3.39 crore),

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What's cooking at Manpasand, Vakrangee, Atlanta How to spot red flags early
Sudden resignations by the auditors of a couple of companies have triggered a sharp drop in their share prices in recent times.

Deloitte Haskins - Sells India quit as auditor of Manpasand Beverages a few days before the declaration of annual results. The stock plunged nearly 50 per cent in five sessions following the announcement.

Shares of Atl

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Stock market update: Nifty Bank index settles in the red; IndusInd Bank top loser
NEW DELHI: Most bank stocks including IndusInd Bank (down 2.25 per cent), Federal Bank (down 2.06 per cent) and RBL Bank (down 1.80 per cent) settled in the negative zone on Friday.

The Nifty Bank index closed Friday's session 0.98 per cent down at 26,693.

HDFC Bank (down 1.52 per cent), Axis Bank (down 1.35 per cent), Kotak Mahindra Bank (down

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NEW DELHI: Domestic shares ended lower on Friday amid heavy selling in financials, metals and IT stocks. The S-P BSE Sensex closed 95.12 points lower at 35,227, while NSE’s Nifty50 closed 39.95 points or 0.37 per cent lower at 10,696.

Out of the 50 Nifty constituents, 15 closed in the green and 34 in the red while 1 remained unchanged.

Here is

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Infosys plays catch-up with TCS, valuation discount up at 27%
NEW DELHI: Infosys valuation discount to TCS has climbed to a high of 27 per cent now. The last time when the discount was this high is in the first half of FY15.

The period in between was marked by mid-single digit growth for Infosys compared with high teens for TCS.

Motilal Oswal Securities believes that the performance of both the IT majors

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Stock market update: These stocks jumped over 4% on Friday despite weak market sentiment
NEW DELHI: Shares of Merck (up 8.90 per cent), Bajaj Auto (up 5.26 per cent), Blue Dart Express (up 5.08 per cent) and Spice Mobility (up 4.14 per cent) settled with gains of over 4 per cent on NSE on Friday, despite a weak market sentiment.

Indian equity benchmarks landed in the negative terrain on Friday as losses in bank, financial and FMCG

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Sensex drops 95 pts, Nifty settles below 10,700; auto stocks rally
NEW DELHI: The Indian equity market kicked off June derivatives series on a negative note as benchmark indices came off two-week highs on selling in banks and FMCG counters. Share of auto and telecom stocks managed decent gains.

Profit-booking emerged across sectors as most sectoral indices settled with losses, but auto witnessed some buying

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Stock market update: IndusInd, Kotak Mahindra, Axis, HDFC Bank fall, keep private bank index down
NEW DELHI: Private bank stocks IndusInd Bank (down 1.48 per cent), Kotak Mahindra Bank (down 1.39 per cent), Axis Bank (down 0.84 per cent) and HDFC Bank (down 0.72 per cent) were suffering losses during Friday's trade, keeping the sectoral index in the lower territory.

The Nifty Private Bank index was trading 0.48 per cent down at 15,182 around

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Stock market update: These stocks stood among the top losers of Friday's session
NEW DELHI: Shares of Caplin Point Laboratories (down 14.26 per cent) and Reliance Communications (down 11.53 per cent) plunged over 10 per cent on NSE, emerging among the top losers of Friday's session.

Stocks scuh as Manpasand Beverages (down 9.99 per cent), Kwality (down 9.92 per cent), Shankara Building Products (down 8.95 per cent), Vikas

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F O: Most Put OI at 10,600 and Call OI at 11,000 show tug of war
By Chandan Taparia The Nifty50 index swung between negative and rangebound trading and formed a Small Bearish candle on the daily scale on Friday.

It formed a Spinning Candle with long shadows followed by a Dragon Fly Doji on the weekly chart, which indicated a tough fight between the bulls and the bears.

However, the immediate trend is positive

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Stock market update: PSU bank index down; SBI falls after it hikes MCLR
NEW DELHI: Losses in Indian Bank (down 1.92 per cent), Allahabad Bank (down 0.96 per cent) and State Bank of India (SBI) (down 0.76 per cent) were keeping the Nifty PSU Bank index in the green in Friday's trade.

Shares of SBI were under pressure after it increased the lending rated for the second time in a year.

The country's largest bank has

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