StockMarket

Stock market update: PSU bank stocks fall up to 4%; SBI, PNB among losers
NEW DELHI: Most PSU bank stocks were suffering losses during Tuesday's trade, keeping the sectoral indices down.

The Nifty PSU Bank index was trading 1.09 per cent down at 2,997 around 10:45 am with Bank of India (down 3.71 per cent) as the top loser.

Higher provisions for bad loans and lower earnings from banking business led to Bank of India

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Shalimar Paints explores fund raising opportunities
New Delhi: Shalimar Paints today said it is exploring various fund raising opportunities including investment from third parties or strategic investor to improve the performance of the company.

The company said it is facing financial difficulty post major fire at its Nasik Plant in November 2016.

"The company continues to explore and evaluate

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Chinese industrial companies& profits rebound in April
SHANGHAI: Profits earned by Chinese industrial firms in April rose at their fastest pace in six months, data from the National Bureau of Statistics (NBS) showed on Sunday, as factories benefited from higher prices and strong demand.

Profits in April rose 21.9 per cent year-onyear to 576 billion yuan ($90.14 billion), the quickest since October,

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L T Q4 ticks 'right boxes'; brokerages see upside
Major brokerages voted in favour of Larsen - Toubro as the engineering major's net profit rode on better project execution.

The capital goods behemoth on Monday reported a 4.72 per cent rise in consolidated net profit at Rs 3,167.47 crore for the March quarter. It had clocked a net profit of Rs 3,024.61 crore in the same quarter last year.

Gr

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PC Jeweller tumbles 10% after Q4 results, recovers
NEW DELHI: Shares of PC Jeweller dropped nearly 10 per cent in Monday's trade tracking the company's fourth quarter results that were announced post market hours on Friday.

The stock fell 9.97 per cent to hit a low of Rs 173.25 on BSE, before recovering some ground. At 10.15 am, the stock was down 5.9 per cent at Rs 180.80.

Net profit for the

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CLSA upgrades Sun Pharma post Q4; stock up 5%
Sun Pharmaceutical rallied over 5 per cent early on Monday, spurred by its earnings show.

The company on Friday reported 6.93 per cent rise in consolidated profit at Rs 1,375.62 crore for the quarter to March, which was above ET NOW poll of Rs 895 crore.

The scrip was trading 5.06 per cent up at Rs 490.15 at around 9.28 am. The BSE Sensex was up

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Stock market update: Over 15 stocks hit 52-week highs on NSE
NEW DELHI: Berger Paints, Biocon, Avenue Supermarts and Edelweiss Financial Services featured among the stocks that touched 52-week highs on NSE during Tuesday's trade despite weak market sentiment.

By 10:35 am, as many as 16 stocks had hit 52-week highs on NSE.

The bandwagon of stocks that hit 52-week highs was joined by GMM Pfaudler, Hexaware

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Stock market update: PSU bank stocks gain; OBC jumps over 5%
NEW DELHI: Most PSU bank stocks including Oriental Bank of Commerce (up 5.09 per cent), Indian Bank (up 3.05 per cent), Union Bank of India (up 2.75 per cent) were trading in the positive territory during Monday's trade.

The Nifty PSU Bank index was trading 1.2 per cent up at 2,985 around 11 am with all stocks in the green.

Shares of Bank of

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The Indian equity market continued its upsurge for the second day in a row on Friday, as the Nifty50 advanced gains and ended the day 91.30 points or 0.87 per cent higher. Though select buying was evident in specific stocks, bulk of the rise came from short covering.

What was technically important was that the Nifty50 has validated the 50-DMA as

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Stock market update: Over 30 stocks hit 52-week lows on NSE
NEW DELHI: Over 30 stocks including Antarctica, Bharati Defence and Infrastructure, Hanung Toys and Textiles, Bharti Infratel and Manpasand Beverage hit 52-week lows on NSE during Tuesday's trade.

Indosolar, Lasa Supergenerics, Mukand Engineers, MVL, Rainbow Papers, Sundaram Finance Holdings, Vakrangee, VA Tech Wabag and Winsome Yarns also figured

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Bank of Baroda brass flashes thumbs-up; is it worth a buy at this level
The quarterly show by Bank of Baroda may have lacked spark. But that's no dampener for the top brass, which sees a smooth road ahead for the public lender.

Higher provisioning was the wrecker-in-chief. Which is why the bank reported a net loss of Rs 3,102.34 crore for the quarter to March.

MD and CEO P S Jayakumar told ET that the current

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Five of top 10 most valued companies add Rs 53,133 crore in m-cap
NEW DELHI: Five of the top 10 most valued Indian companies together added Rs 53,132.67 crore in market valuation last week, helped by robust gains in SBI and Tata Consultancy Services (TCS) m-cap.

While TCS, Infosys, Maruti Suzuki India, Kotak Mahindra Bank and SBI witnessed gains in their market valuation for the week ended Friday, Reliance

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BoI plunges 5% on Q4 loss; Should you buy in
Bank of India slipped over 5 per cent on early Tuesday as its net loss widened.

The lender on Monday reported a higher net loss at Rs 3,969 crore for the March quarter due to heavy provisioning for bad loans and treasury losses.

Net loss stood at Rs 1,046 crore in the same quarter last year.

For 2017-18, the bank suffered a net loss of Rs 6,044

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Stock market update: Bajaj Finserv, Britannia, Kotak Bank hit 52-week highs on NSE
NEW DELHI: Bajaj Finserv, Britannia Industries, Jubilant Foodworks, Kotak Mahindra Bank and Pidilite Industries featured among stocks that touched 52-week highs on NSE during Monday's trade.

By 10:50 am, as many as 20 stocks had hit 52-week highs on NSE, compared with 46 stocks that touched 52-week lows.

Madhucon Projects, Narayana Hrudayalaya,

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Nonsense to think a business is dead, they do come back: Shankar Sharma
Ace investor Shankar Sharma thinks businesses are alive and they keep changing. Everybody makes mistakes, but as long as the mistakes were genuine and they made amends and corrected their problems, it is time to give them a relook, he said in an interview with Nikunj Dalmia of ETNow. Excerpts

Nikunj Dalmia: What do you think is the style currently

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Stock market update: These stocks defy bearish market sentiment, surge up to 15%
NEW DELHI: Shares of Uflex (up 15.30 per cent) and Shriram EPC (up 14.61 per cent) surged up to 15 per cent on NSE during morning trade on Tuesday, defying bearish market sentiment.

Packaging company Uflex has reported a decline of 27.55 per cent in consolidated net profit at Rs 71.13 crore for the fourth quarter ended March 2018 due to increased

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Stock market update: Over 45 stocks hit 52-week lows on NSE
NEW DELHI: Over 45 stocks including Alchemist, Cambridge Technology Enterprises, GTL Infrastructure and Ingersoll Rand (India) hit 52-week lows on NSE during Monday's trade even as market was reflecting positive sentiment.

Madhucon Projects, Narayana Hrudayalaya, Shilpi Cable Technologies and Suryalakshmi Cotton Mills also featured among stocks

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FPIs' bearish stance continues; net outflow at $4 billion in May
NEW DELHI: Foreign investors have pulled out a massive $4 billion (over Rs 26,700 crore) from capital markets so far this month, primarily due to surge in global crude prices.

This comes after such investors had taken out more than Rs 15,500 crore from capital markets (equity and debt) in April, which was steepest outflow in 16 months.

According

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Vedanta slips after Tamil Nadu government cracks whip on copper plant
Shares of Vedanta were on a weaker footing on Tuesday, with the Tamil Nadu government ordering permanent shutdown of its Tuticorin plant.

The state government on Monday ordered the state Pollution Control Board to seal and "permanently" close the Vedanta group's copper plant in Tuticorin. The action followed last week's violent protests over

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Stock market update: Manpasand Beverages plunges 20%, hits 52-week lows
NEW DELHI: Shares of Manpasand Beverages (down 19.99 per cent) plunged 20 per cent on NSE to touch 52-week low of 344.20 during Monday's trade after media reports emerged that Deloitte Haskins - Sells has resigned as Statutory Auditors of the company with effect from May 26, 2018.

Shares of Nandan Denim (down 12.28 per cent), Shriram EPC (down

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Vedanta sticks with plan to expand Indian smelter despite deadly protests
NEW DELHI: London-listed Vedanta Resources hopes to restart its copper smelter in Tamil Nadu and still wants to double its capacity despite protests demanding its closure that killed 13 people this week, a company executive told Reuters on Friday.

The company’s position comes a day after the state of Tamil Nadu, where the smelter is located, said i

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NEW DELHI: Solid buying in financials, auto, pharma and oil stocks lifted domestic equity indices for third day in a row on Monday. Twin positive cues of softening crude prices and a rupee recovery boosted investors’ sentiment.

The S-P BSE Sensex added 240.61 points to end at 35,165, while NSE’s Nifty50 gained 83.50 points to close at 1

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How global investors are reacting to the Trump-Kim summit collapse
NEW YORK: Stephen Innes has been buying gold since the news broke that US President Donald Trump had canceled his planned summit with North Korean leader Kim Jong Un.

But that aside, he doesn’t seem too bothered.

“It’s a bump in the road,” Innes, the head of trading at Oanda Corp. in Singapore, said. “The road to prosperity offered to North Korea

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Sun Pharma warns US pricing pressure to hit 2019 profit
India’s largest drugmaker Sun Pharmaceutical Industries said on Friday it expects its 2019 revenue to come in short of analysts’ expectations due to pricing pressure in its main market, the United States.

Makers of generic drugs have seen poor sales as uncertainty grows in the global market for copycat drugs due to rising competition and pricing

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Stock market update: Private bank stocks in sync with PSU peers; IDFC Bank jumps over 3%
NEW DELHI: In line with PSU peers, most private bank stocks were also trading with gains during Monday's trade.

The Nifty Private Bank index was trading 0.89 per cent up at 15,090 around 11:15 am.

Shares of IDFC Bank (up 3.18 per cent), South Indian Bank (up 2.25 per cent) and Federal Bank (up 1.95 per cent) were the top gainers in the private

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NEW DELHI: Jobs data is important not only for the man on the Street, the ruling BJP or Opposition parties, but also to Dalal Street, which tries to look at it as an indicator of India’s growing middle class and find an investment theme around it.

Poor household incomes and low savings suggest muted job creation, or quality of jobs in aggregate.

Jo

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IPO market heats up; 3 dozen companies line up Rs 35,000 crore public offers
NEW DELHI: The IPO lane seems to get busier as three dozen companies have lined up initial share sale plans worth Rs 35,000 crore in the coming months, largely to fund their expansion projects and working capital requirements.

These include six state-run entities -- Indian Renewable Energy Development Agency, Rail Vikas Nigam, IRCON International,

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By Masaki Kondo and Kartik GoyalA shrinking correlation between financial markets in India and those in the rest of the world is one reason to buy its assets.

The weighted average correlation of India’s currency, bonds and stocks with those in other global economies fell to 0.32 last month, approaching a more than 10-year low of 0.29 set in

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Stock market update: Sensex, Nifty tread higher; these stocks surge over 12%
NEW DELHI: Shares of Sarda Energy - Minerals (up 13.60 per cent), Weizmann Forex (up 12.96 per cent) and Gateway Distriparks (up 12.05 per cent) surged over 12 per cent on NSE during morning trade on Monday as equity markets were up on buying in most sectors amid positive global cues.

Shares of container logistics firm Gateway Distriparks

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Eight factors that will steer market during the F O expiry week ahead
NEW DELHI: The domestic equity market ended with strong gains on Friday, aided by a recovery in the rupee and softening crude oil prices. The S-P BSE Sensex gained 262 points to close at 34,925, while the 50-share pack of NSE closed above the crucial 10,600 level at 10,605, up 91 points or 0.87 per cent.

On a weekly basis, the 50-share pack

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