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Five of top 10 firms lose Rs 57,333 crore in m-cap
The combined market valuation of five of the 10 most valued Indian companies dropped by Rs 57,333.55 crore last week, with Reliance Industries Ltd (RIL) taking the steepest hit.

While RIL, ITC, HDFC, Maruti Suzuki India and ONGC suffered losses in their market capitalisation (m-cap) for the week ended Friday, Tata Consultancy Services (TCS), HDFC

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US investors can directly bet on Indian derivatives
MUMBAI: US investors can directly bet on Indian derivatives

US investors will now be able to trade in Indian derivatives market directly.

The National Stock Exchange (NSE) has received nod from US derivatives regulator, Commodity Futures Trading Commission (CFTC), to sell its product to US investors, the exchange said in a statement on Friday.

“This

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Tata Steel has formally taken control of Bhushan Steel, settling about Rs 35,200 crore, or nearly two-thirds, of the loans the bankrupt steelmaker owed to lenders and appointing three nominees on its board.

Bhushan Steel is the first to emerge successful from insolvency and bankruptcy process among the initial dozen big defaulters that the central

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China pledges 'significantly' more US buying, no trade war
By Ros Krasny and John McCluskey

China will “significantly increase purchases” of U.S. goods, the White House said as Beijing’s special envoy at talks in Washington declared a trade war has been averted between the world’s two largest economies.

A joint statement released by the White House following the talks didn’t place a dollar figure on the i

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NEW DELHI: The government has lifted the restrictions that barred acompany from lending or providing security and guarantee to a private enterprise where the former has a common director, or where its director holds a stake.

An official told ET that the corporate affairs ministry has issued a notification, formalising amendments to the Companies

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Karnataka Bank a low-hanging fruit Brokerages see up to 40% upside
Is Karnataka Bank ripe for stock picking, more so because it corrected over 20 per cent so far in 2018

Well, select brokerages are giving a thumbs-up to the lender. An over 90 per cent year-on-year fall in quarterly profit appears no spoiler.

They have some logic.

Brokerage firm Edelweiss Securities believes that Karnataka Bank is focused on

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What I read this week: Trade deals need a fall guy India-s macroeconomic dashboard
Viktor Shvets, Head of Asian Strategy at Macquarie Securities recently published a report on who could be the next fall guy amidst the current trade and monetary disputes in the world, and also provides a long-term solution.

We recently published our Indian Macroeconomic dashboard for April 2018. Find out below for more details.

The rupee appears

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Bajaj Allianz General FY18 net up 26.51% at Rs 921 crore
Bajaj Allianz General Insurance today reported 26.51 per cent growth in net profit for the year 2017-18, at Rs 921 crore compared to the previous year.

In 2016-17, the private general insurer's net profit stood at Rs 728 crore, the company said in a statement here.

The underwriting profit of the company soared by 359 per cent to Rs 293 crore in

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Market Now: HUL, Mahindra Logistics, Parag Milk hit 52-week highs
NEW DELHI: Hindustan Unilever, Colgate Palmolive (India), Mahindra Logistics and Parag Milk Foods hit fresh 52-week highs on NSE in Thursday's trade even as market sentiment was subdued.

DCM Financial Services, Edelweiss Financial Services, HEG, Jyothy Laboratories and Orient Press also featured among stocks that touched their 52-week high level.

E

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Top 6 factors that may guide market direction in week ahead
NEW DELHI: The high-voltage political drama in Karnataka, surge in US bond yields and rising crude prices broke the back of the bulls last week, which saw domestic equities posting their biggest weekly loss in 10 weeks.

On Friday, the Sensex slipped below the crucial 35,000 level to settle at 34,848, down 301 points or 0.86 per cent. NSE Nifty ende

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Strides Shasun Q4 loss at Rs 4.40 cr, shares tank 23%
Drug firm Strides Shasun today reported a consolidated net loss of Rs 4.40 crore from the continuing operations.

The company had posted a net profit of Rs 91.59 crore for the same period a year ago, Strides Shasun said in a BSE filing.

Consolidated revenue from continuing operations of the company stood at Rs 664.15 crore. It was Rs 677.13 crore

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Whatever happens in Karnataka, it won&t do Modi any good, says Swami
Noted economist Swaminathan Aiyar on Thursday said the Karnataka cliffhanger has nothing to do with the volatility being witnessed in India’s financial markets. Instead, it has to do with the developments in international markets.

The liquidity flight out of emerging markets, problems in places like Turkey and Argentina, the spike in oil prices

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BJPKarnataka debacle to spoil mood on Dalal Street; but knee-jerk reaction may be shortlived, say analysts
NEW DELHI: BS Yeddyurappa-led BJP's failure to prove majority on the floor of Karnataka assembly on Saturday is all set to trigger a kneejerk reaction on Dalal Street when trade resumes on Monday.

Analysts said the market is going to open with a downward gap but should recover the same day.

Yeddyurappa, who took oath as Karnataka Chief Minister,

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Sebi proposes to allow foreign entities in commodity derivatives
With an aim to deepen the commodity derivatives market, regulator Sebi today proposed allowing trading in this segment by foreign entities with exposure to the Indian physical commodity market.

To begin with, foreign entities may be allowed to hedge their exposures with derivatives trading in only those commodities where India has a large

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MPC to meet for three days from June 4
MUMBAI: The Reserve Bank has advanced the meeting of the Monetary Policy Committee (MPC) by a day to June 4 and also increased the duration to three days due to "certain administrative exigencies".

It is for the first time that the MPC will meet for three days instead of the usual two.

The six-member MPC, headed by the RBI Governor, sets the

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PNB, HUL, RCom among most buzzing stocks in a week battered by oil politics
NEW DELHI: There was a dearth of good triggers to take the benchmark indices higher during the week gone by.

Crude prices boiled at $80 mark, the highest since November 2014. US bond yields jumped to levels last seen in 2011 while the rupee tumbled below the 68 mark. This is at a time when foreign outflows have been on a rise. Add political

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Indiabulls Real Estate to buy back shares worth up to Rs 624 crore
MUMBAI: Realty developer Indiabulls Real Estate has approved the proposal to buy-back up to 2.6 crore equity shares of the company aggregating up to Rs 624 crore. The maximum size of the buy-back is around 5.45% of existing paid-up share capital of the company, the developer said in a regulatory filing.

The maximum offer price for the proposed buy

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Market Now: Over 120 stocks hit 52-week lows on NSE
NEW DELHI: Over 120 stocks including Alchemist, Alok Industries, Burnpur Cement and CEAT hit 52-week lows on NSE in Thursday's trade.

Dhampur Sugar Mills, Electrosteel Steels, GTL Infrastructure, Oriental Bank of Commerce, Punjab - Sind Bank, United Bank of India, Vakrange and Zylog Systems also featured among stocks that hit 52-week lows on

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The domestic stock market lost steam during the week gone by and slumped due to the twin pressure points of rising bond yields and crude prices along with the rupee crossing the 68 a dollar mark.

Frontline FMCG companies surpassed growth expectations by posting double-digit PAT growth. HUL reported 14.2 per cent rise, while ITC delivered 9.8 per

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NCLT appoints IRPs for Rcom, units; stock slumps
The insolvency tribunal has named three separate interim resolution professionals (IRP) from RBSA Restructuring Advisors LLP to run Reliance Communications (RCom) and its two units, Reliance Telecom Ltd. (RTL) and Reliance Infratel, as part of the bankruptcy proceedings against the Anil Ambani-owned companies.

In three separate but similar orders,

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Grant a stock trader a wish, he will ask for a sureshot technical indicator that can spot market trends before anyone else can see them.

Tushar Chande is a familiar name among stock traders who swear by technical charts. With over two decades of experience in futures market, Chicago-based Chande has developed many breakthrough technical

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MUMBAI: A twist in the ongoing political battle in Karnataka dragged down the stock market on Friday, already fretting over the impact of weakening rupee and firm crude prices on the economy. The Sensex closed below 35,000 and the Nifty pierced the 10,600-mark on Friday as traders rushed to cut positions ahead of the floor test in the Karnataka
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NCLT appoints IRPs for Rcom, units; stock slumps
The insolvency tribunal has named three separate interim resolution professionals (IRP) from RBSA Restructuring Advisors LLP to run Reliance Communications (RCom) and its two units, Reliance Telecom Ltd. (RTL) and Reliance Infratel, as part of the bankruptcy proceedings against the Anil Ambani-owned companies.

In three separate but similar orders,

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NEW DELHI: Financial year 2017-18 was best ever for India’s IPO market by far, with as many as 45 mainboard issues hitting the Street and raising a record Rs 82,109 crore.

Data from PRIME Database shows of the 45 companies, some sizzled and scaled up the ladder, while others failed to reward investors.

Shankara Building Products was on the winning

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View: Why it makes no sense to invest in sectoral funds
ByDhirendra Kumar, CEO, Value Research

The lure of investing in whatever sector or industry is doing well at the moment is easy to pass off as research. Professionals (brokers and advisors) as well as individual investors can always justify investing in an industry by pointing out that it was doing better than others, the assumption being that it

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By Andrea Tan and Blake SchmidtSo much for the Blockchain Week bounce.

With thousands of cryptocurrency diehards swarming into Manhattan for this week’s Consensus 2018 conference and other industry related events, the prediction from Bitcoin bulls like Tom Lee of Fundstrat Global Advisors was that the hype-filled gathering would trigger a market

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Market Now: Private bank stocks mixed; ICICI Bank in the green
NEW DELHI: Private bank stocks Federal Bank (down 1.20 per cent), Axis Bank (down 0.86 per cent) and YES Bank (down 0.57 per cent) were trading in the negative terrain during Thursday's trade.

Shares of South Indian Bank (down 0.38 per cent), RBL Bank (down 0.25 per cent) and IndusInd Bank (down 0.24 per cent) were also in the red.

On the other

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MUMBAI: Bajaj Auto, India’s biggest exporter of motorcycles, has posted a 35% rise in net profit in the March quarter, paced by strong demand for its bikes and three-wheelers. A depreciating rupee acted as a tailwind to its overseas businesses.

The company has forecast yet another quarter of double-digit growth in Q1 of FY19, something that may

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D-Mart logs its second-biggest drop; have investors jumped the gun
D-Mart owner Avenue Supermarts witnessed its second biggest drop on Friday since listing in March 2017. Shares of the company closed 5.24 per cent down at Rs 1,416.85 after reports emerged that founder Radhakishan Damani will sell some stake in the company.

Avenue Supermarts had witnessed the biggest fall of 5.48 per cent on April 17 last year.

Dam

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Market Now: PSU bank stocks rise; SBI tops PSU bank index
NEW DELHI: Most PSU bank stocks were trading with gains in Thursday's trade, keeping the sectoral index up.

The Nifty PSU Bank index was trading 0.76 per cent up at 2,731 around 10:25 am, with State Bank of India (up 1.07 per cent) as the top gainer.

Shares of Canara Bank (up 0.68 per cent), Syndicate Bank (up 0.68 per cent), Allahabad Bank (up

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