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Mohnish Pabraiinvestment tip: Be very harsh in stock picking
NEW DELHI: Being a straight arrow is the path to be wealthy, shoots ace investor Mohnish Pabrai.

In an exclusive interaction with ETNow, he said one needs to be a harsh grader while picking any company.

"There should not be any error in the management, books of the company. It doesn't matter of it gives 100 bagger returns in future," he was

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Stock market update: Power stocks lacklustre; CG Power, Suzlon Energy top losers
NEW DELHI: The S-P BSE Power was trading 0.53 per cent down at 2,126 around 01:30 pm with CG Power and Industrial Solutions (down 13.08 per cent) as the top loser.

As per PTI, the company on Wednesday said that its consolidated net loss increased by 31 per cent to Rs 581.82 crore in the quarter ended on March 2018 due to provision of exception

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Stock market update: Telecom stocks trade mixed; Bharti Airtel up with small gains
NEW DELHI: Telecom stocks were trading mixed during afternoon trade on Thursday.

Shares of GTL (up 7.38 per cent), Reliance Communications (up 6.29 per cent) and GTL Infrastructure (up 3.87 per cent) were trading with decent gains around 12:20 pm.

Tejas Networks (up 0.85 per cent), Vindhya Telelinks (up 0.77 per cent), Sterlite Technologies (up

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Stock market update: Sensex, Nifty firm; these stocks surge up to 10%
NEW DELHI: While key equity indices were in the positive territory, shares of Maharashtra Seamless (up 10.23 per cent) and Shriram EPC (up 9.07 per cent) zoomed up to 10 per cent in morning trade on Friday, emerging among the top gainers in today's trade so far.

Stocks such as Firstsource Solutions (up 5.51 per cent) and Sudarshan Chemical

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Japan's Nikkei bounces back as fears about Italy recede
TOKYO: Japan's Nikkei share average on Thursday bounced back from a six-week low as worries over Italy's political crisis receded.

The Nikkei rose 0.83 per cent to 22,201.82. On Wednesday, it hit 21,931.65, the lowest since April 18.

While mining, auto and drug shares outperformed, shippers and air carriers fell.

Japan Petroleum Exploration jumped

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RBI seen turning hawkish in June, raising rates in August: Poll
BENGALURU: India's central bank will hike rates in August on concerns that already above-target inflation will climb further, according to economists in a Reuters poll, in contrast to a survey just a month ago which saw an increase only in the second half of 2019.

That dramatic shift in expectations was driven by India's annual consumer price

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Days after new probe order, ICICI Bank's Chanda Kochhar goes on leave; stock jumps 3%
Two days after ICICI Bank’s board succumbed to pressure and ordered an independent enquiry into an anonymous whistleblower’s complaint about alleged impropriety by its Managing Director and Chief Executive Officer Chanda Kochhar, she has gone on leave.

ICICI Bank denied that Kochhar has been asked to go on leave. Earlier financial daily Mint had

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ONGC shares gain nearly 4% after Q4 results
Shares of Oil and Natural Gas Corp (ONGC) today rose by nearly 4 per cent after the company reported its highest profit in 17 quarters.

The stock, after a positive opening, further jumped 3.50 per cent to Rs 180.05 as the trade progressed on BSE.

On NSE, shares of the company went up by 3.64 per cent to Rs 180.35.

State-owned ONGC's net profit in

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Best chance to make money on those who profit from your money
Rising demand for mutual funds on account of growing preference towards financial assets may boost asset under management of domestic money managers to over $1.1 trillion by 2025.

The professional asset management industry in India manages $626 billion as of today and has grown at a 23 per cent CAGR over past three years. These asset managers

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Bajaj Auto shares jump over 2% post May sales data
Shares of Bajaj Auto rallied over 2 per cent in Friday’s morning trade after the company posted a 30 per cent rise in total sales at 4,07,044 units in May 2018 against 3,13,756 units in May 2017.

The company’s total exports out of the above figure stood at 1,82,419 units, a gain of 31 per cent as compared with 1,39,709 units sold in the c

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Foreign flows into China stocks tepid ahead of MSCI inclusion
SHANGHAI: Foreign buying of Chinese stocks was tepid on Thursday as benchmark indexes rose on the last trading day before mainland shares join MSCI's emerging markets index.

The rebalancing of portfolios by global fund managers, as well as from some active investors, had led to expectations that there could be a jump in foreign investment to China'

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Stock market update: Over 50 stocks hit 52-week lows on NSE defying positive market mood
NEW DELHI: Tata Consultancy Services, Alchemist, Atlanta, Chromatic India, Arrow Greentech, Engineers India and JK Lakshmi Cement hit 52-week lows on NSE during Thursday's trade.

By 11:20 am, as many as 54 stocks had touched their 52-week low level on NSE even as equity markets were positive.

KSK Energy Ventures, Manpasand Beverages, Orient Paper

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Stock market update: Vikas Ecotech tanks 11%, features among top losers in Friday's morning trade
NEW DELHI: Shares of Vikas Ecotech plunged 11 per cent in morning trade on Friday, emerging among the top losers in day's trade so far.

On Thursday, the company said in a BSE filing that it had 'achieved normal level of production' after Q4 FY18 disruption. Total sales for the months of April and May 2018 was estimated at Rs 55 crore.

Reliance

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China stocks rebound as factory growth data cheers
SHANGHAI: China stocks rebounded on Thursday, encouraged by strong data that helped ease concerns about an economic slowdown amid trade tensions and as worries over Italy cooled, while MSCI's inclusion of Chinese shares in its global indexes from Friday also boosted sentiment.

For the day, the blue-chip CSI300 index rose 2.2 per cent to 3,802.38

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Political worries set to check Indian stock market bulls: Reuters poll
BENGALURU: Indian stocks are expected to erase recent losses and rise a little this year, but an array of political developments at home and overseas along with just a steady economic growth outlook will likely restrain the market, a Reuters poll showed.

While the Indian stock index gained nearly 7 per cent in January and hit a lifetime high, it

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Stock market update: HDFC Bank, ICICI Bank most active stocks in value terms
NEW DELHI: HDFC Bank (Rs 335.68 crore) was the most active stock in terms of value on NSE in morning trade on Friday.

The bank's FII Trading Window opens today. Sebi decided to open the window for institutional trading series (6 lakh series) just for a day on June 1, 2018. In fact, the regulator has decided to scrap the mechanism from July 1

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Stock market update: Capital goods stocks on a shaky pitch; CG Power plunges 13% on Q4 loss
NEW DELHI: A majority of capital goods stocks were trading in the negative territory during afternoon trade on Thursday.

The BSE Capital Goods index was trading 0.27 per cent down at 18,889 around 01:15 pm with 9 stocks advancing and 17 declining.

Shares of CG Power and Industrial Solutions plunged 13 per cent, trading as the top loser of the

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IndiaFirst Life to sell stake to Warburg PE; board meet today
By Reghu BalakrishnanMUMBAI: US-based private equity major Warburg Pincus LLC is all set to buy Legal and General Group Plc’s 26 per cent stake in IndiaFirst Life Insurance Co. Ltd, people aware of the development said. The board of IndiaFirst is meeting on Thursday to approve the deal with Warburg.

According to the people, Warburg will pay about

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MUMBAI: Five of India’s largest private hospitals have asked the government to reconsider the pricing list of the Modi government’s flagship insurance programme Ayushman Bharat Scheme because quality care to patients at current rates is unviable.

Five national private hospitals ET spoke to said that government should have taken their inputs

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Aussie shares end higher as Italy turmoil eases; NZ posts bumper month
Australian shares rode broad-based gains led by materials stocks to close higher on Thursday, tracking a global rally in equities as Italy's political turmoil receded, but health stocks were hit by U.S. President Donald Trump's talk of "voluntary massive drops" in drug prices.

The S-P/ASX 200 index rose 0.5 per cent or 27.2 points to 6011.9.

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Stock market update: Midcaps trade flat; top loser Crisil tanks over 7%
NEW DELHI: Erasing the gains of the early session, the BSE Midcap index was trading flat at 16,054 around 10:55 am on Thursday. The BSE Sensex was 127 points up at 35,033, while the Nifty50 was 35 points up at 10,650 around the same time.

Reliance Communications (up 8.86 per cent) was the top gainer in the midcap index.

Shares of Reliance

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HDFC Bank rallies ahead of opening of FII trading window on Friday
Shares of HDFC Bank rallied on Thursday as the counter witnessed robust buying ahead of the opening of FII buying window on June 1.

HDFC Bank, a favourite stock of foreign portfolio investors, could see buying of more than $1 billion when the window for FIIs to trade opens up on June 1, said Macquarie in a note.

The scrip was trading 2.86 per

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These 30 MF schemes bleed on surprise slump in Dilip Buildcon
The steep fall in the shares of Dilip Buildcon has made mutual funds poorer by nearly Rs 400 crore in just 12 sessions. As many as 30 mutual fund schemes were holding over 82 lakh shares of the company as of April 30, 2018.

Schemes of BOI AXA Investment Managers, DSP BlackRock Investment Managers, Edelweiss Asset Management, Escorts Asset

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Overseas portfolio investors, or FIIs, have been largely bearish on Indian equities so far in 2018. But there are a few companies FIIs would not desert no matter how bad the future outlook gets.

For last 40 quarters, FII holdings in nearly 100 companies from the BSE500 index have been hovering above their mean and median. No marks for guessing,

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IOC most profitable PSU for 2nd year in a row
NEW DELHI: Fuel retailer IOC has for the second year in a row beaten ONGC to become India's most profitable state-owned company, raising questions over calls for the explorer to subsidise retailers amid soaring petrol and diesel rates.

Indian Oil Corporation, which has for decades been India's biggest company by turnover, last week posted a

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These 30 MF schemes bleed on surprise slump in Dilip Buildcon
The steep fall in the shares of Dilip Buildcon has made mutual funds poorer by nearly Rs 400 crore in just 12 sessions. As many as 30 mutual fund schemes were holding over 82 lakh shares of the company as of April 30, 2018.

Schemes of BOI AXA Investment Managers, DSP BlackRock Investment Managers, Edelweiss Asset Management, Escorts Asset

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Atlanta drops 20% as company auditor quits
NEW DELHI: Shares of Atlanta hit 20 per cent lower circuit limit on Thursday after Price Waterhouse (PW), a network firm of PwC India quit as auditor to the construction and infrastructure company.

The firm apparently refused to share details of an ongoing income tax investigation and the resignation of an independent director. The stock fell 20

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It's downhill for airline profits as fuel price bites, IATA says
By Angus Whitley

Almost a decade of good times may be over for airlines worldwide.

The rising cost of fuel will eat into profits “significantly” from next year, Alexandre de Juniac, chief executive officer of the International Air Transport Association, said in Sydney on Thursday.

“We are probably at the peak of the cycle,” he said, addressing med

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Stock market update: Consumer durables index down; PC Jeweller, Rajesh Exports among the top drags
NEW DELHI: The BSE Consumer Durables index was trading 0.27 per cent down at 20,816 around 01:05 pm on Thursday on losses in PC Jeweller (down 2.95 per cent), Bajaj Electricals (down 2.45 per cent) and Rajesh Exports (down 1.94 per cent).

Shares of Whirlpool of India (down 0.17 per cent) and Titan Company (down 0.12 per cent) were also seen under

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Stock market update: Smallcaps trail Sensex; Shankara Building Products top loser
NEW DELHI: The BSE Smallcap index was trailing benchmark Sensex in morning trade on Thursday.

The BSE Smallcap index was trading 0.08 per cent down at 17,334, while Sensex was 0.29 per cent up at 35,007 around 10:45 am. The Nifty50 index was 0.28 per cent up at 10,645 around the same time.

Shankara Building Products (down 18.77 per cent) was the

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