StockMarket

Foreign brokerages give thumbs down to TVS Motors post Q4 numbers
Foreign brokerage houses including Credit Suisse and CLSA remained bearish on TVS Motor Company after it posted lower-than-expected financial results for the quarter ended March 2018.

As a result, the scrip plunged over 2 per cent to Rs 596 on BSE in early trade.

Global brokerage firm Credit Suisse maintained ‘underperform’ rating on TVS Motor sto

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Government raises estimate on foodgrain production
New Delhi: India raised its estimate on food-grain production for the ongoing crop year ending June, with normal rains last monsoon season boosting the output of wheat, rice, coarse cereals and pulses.

The agriculture ministry’s third advance estimates of major crops pegged the output at a record 279.51 million tonnes, raising its February f

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Political jitters hit Italian banks while European shares rise
MILAN: European shares edged up on Wednesday, supported by strength in mining stocks and some solid earnings updates, although a drop in Italian banks on fresh political worries weighed.

The pan-European STOXX 600 index rose 0.1 per cent by 0855 GMT, hovering around its highest level since early February, while Italy's FTSE MIB fell 0.9 per cent.

I

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Market Now: These stocks soar in a weak market
NEW DELHI: Shares of Nakoda and Uttam Value Steels surged up to 33.33 per cent in morning trade on Thursday, remaining immune to the bearish market sentiment.

Stocks such as FCS Software (up 20 per cent), Manali Petrochemicals (up 19.97 per cent), Manaksia (up 16.79 per cent) and Shekhawati Poly-Yarn (up 16.67 per cent) jumped up to 20 per cent.

Fu

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PNB Housing Finance dethroned its fraud-hit parent Punjab National Bank (PNB) in terms of market capitalisation for the first time ever on Wednesday.

The m-cap of PNB Housing Finance stood at Rs 21,265.20 crore on May 16 compared with PNB’s Rs 20,856.10 crore.

Shares of Punjab National Bank plunged over 12 per cent on Wednesday after the company

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Hindalco Q4 profit drops 25% YoY to Rs 377 crore; misses Street estimates
Hindalco on Wednesday posted 24.98 per cent year-on-year drop in profit at Rs 376.97 crore for the quarter ended March. It had posted a profit of Rs 502.52 crore in the corresponding quarter last year.

ETNow poll had predicted a profit of Rs 475 crore.

Total income of the company dipped marginally 0.70 per cent to Rs 11,886.02 crore in Q4FY18 over

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Add Punjab National Bank target Rs 90: Kotak Institutional Equities
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Geojit Financial Services Q4 profit rises 26% to Rs 19 crore
KochI: Geojit Financial Services has clocked 26% increase in net profit at Rs 19.28 crore for Q4 in 2017-18 from a year ago. The consolidated revenue went up 20% to Rs 95.66 crore for the quarter.

For the whole year of 2017-18, the net profit increased 31% from previous year to Rs 73.24 crore. The revenues rose 20% to Rs 367.95 crore .

The company

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Market Now: Hindalco, Coal India, Vedanta keep metal pack down
NEW DELHI: Nifty Metal index as trading in the red during Wednesday's trade owing to losses in Hindalco Industries (down 1.52 per cent), Coal India (down 0.81 per cent) and Vedanta (down 0.62 per cent).

The BSE Metal index was trading 0.42 per cent down at 13,995 around 02:10 pm.

Shares of Tata Steel (down 0.57 per cent), SAIL (down 0.54 per

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US yields at 3.5% would spur stock exodus: Credit Suisse
New York: With the yield on US 10-year Treasuries surging to their highest level in nearly seven years, investors are starting to wonder what will be the threshold triggering a big rotation out of equities and into bonds. Credit Suisse Group AG says we’re getting dangerously close to the level, yet yields could stall for a while.

This year’s rise i

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Tata Steel posts Rs 10,187 crore profit in Q4 on exceptional gain of Rs 11,376 crore
Tata Steel on Wednesday posted a profit of Rs 10,187.23 crore for the quarter ended March 31, 2018 against a consolidated loss of Rs 725.14 crore in the corresponding quarter last year. ETNow poll had predicted a net profit of Rs 2,323 crore.

The company received one-time exceptional gain of Rs 11,376.14 crore in March quarter. The exceptional

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Market Now: Pharma stocks mixed; Cipla leads gainers' pack
NEW DELHI: Pharma stocks were trading mixed during afternoon trade on Wednesday.

Cipla (down 2.57 per cent), Cadila Healthcare (down 0.98 per cent), Dr. Reddy's Laboratories (down 0.92 per cent), Piramal Enterprises (down 0.71 per cent) and Biocon (down 0.09 per cent) were incurring losses in trade.

The Nifty Pharma index was trading 0.26 per

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Market Now: Sensex, Nifty down; these stocks crack over 10%
NEW DELHI: Shares of Raj Rayon (down 20 per cent), Samtel Color (down 14.29 per cent), MVL (down 14.29 per cent) and Career Point (down 12.25 per cent) cracked over 10 per cent on NSE in morning trade on Thursday.

Stocks such as Smartlink Holdings (down 9.43 per cent), Pratibha Industries (down 8.42 per cent), Country Condos (down 8.33 per cent)

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Can India really ban bitcoin Is it possible at all to do so
By Pareen LathiaEvery few months, we hear that bitcoin has been banned by some country or the other. As early as 2013, bitcoin was "banned" by Thailand. In 2017, it was big news when China banned bitcoin and the latest news carries a ban by the Indian Reserve Bank.

The problem is this news is grossly misleading because it is simply not possible

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ITC reports 10% YoY rise in Q4 profit at Rs 2,933 crore, announces Rs 5.15 dividend
FMCG major ITC on Wednesday posted 9.86 per cent year-on-year rise in profit at Rs 2,932.71 crore for the quarter ended March. ETNow poll had predicted a profit of Rs 2,917 crore.

The firm had posted a net profit of Rs 2,669.47 crore in the corresponding quarter last year.

However, revenue from operations declined to Rs 10,813.24 crore during the

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ETMarekts Morning Podcast: What will sway your markets today
hello there good morning

This is Prachi Sharma, your market jockey, with the morning briefing to get you up and running for a busy day on Dalal Street.

The bogey on carry trade unwinding continues to haunt equity and currency markets and US bonds are simply not relenting.

Back home, the Karnataka saga is turning out to be a thriller of epic

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BSE Smallcap settles in the green, outperforms Sensex
NEW DELHI: BSE Smallcap index outperformed benchmark Sensex on Wednesday.

The smallcap index closed the day with a tepid gain of 0.06 per cent at 17,536, whereas Sensex settled 0.44 per cent down at 35,388.

Shares of Gammon Infrastructure Projects (up 19.81 per cent), Indiabulls Real Estate (up 12.20 per cent) and Apex Frozen Foods (up 10.64 per

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Market Now: Nifty IT trades in the green zone; Wipro up nearly 3%
NEW DELHI: The Nifty IT index was trading 0.36 per cent up at 13,553 around 01:55 pm on Wednesday, backed by gains in Wipro (up 2.56 per cent).

Shares of Tata Elxsi (up 1.11 per cent), KPIT Technologies (up 1.07 per cent), Oracle Financial Services Software (up 0.81 per cent), Tata Consultancy Services (up 0.25 per cent) and Tech Mahindra (up

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A day after paring 120 points from the high point of the day, the Nifty continued to remain weak on Wednesday, as it opened with a modest gapdown and drifted lower during the session.

The market made an attempt to recover from the day’s lows, but ended the trade losing 60.75 points or 0.56 per cent.

While keeping aside the prevailing uncertainties

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Tech view: Nifty forms Spinning Top; may continue to consolidate
The benchmark Nifty index continued to witness weakness in Wednesday’s session after giving up over 400-point intraday gain on Tuesday. The 50-pack opened with a gap down and remained volatile through the session before closing 60.75 points down at 10,741.

The index opened the day at 10,751 and touched an intraday high and low of 10,790 and

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By Andy MukherjeeOther than the embarrassment of asking the country’s second-largest state-run lender to, well, stop lending, there’s no other reason why India should allow Punjab National Bank to advance even one rupee to anybody except the government.

The financial institution, at the epicenter of a massive fraud allegedly committed by

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ETMarkets Evening Podcast: Market extends fall; what next
Hi friends! You are listening to ETMarkets Evening Podcast.

This is Abhinav Kaul and I will get you today's market wrap along with cutting-edge analytics from some of the sharpest brains.

No prizes for guessing why the market today behaved the way it behaved.

The usual suspects were: Falling rupee, the 'ugly' inflation and spiralling US bond

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NEW DELHI: Macroeconomic headwinds and doubts over government formation in Karnataka turned investors cautious on Wednesday, which extended the fall in Sensex to a second straight session.

The S-P BSE Sensex slipped 156 points to settle at 35,387, with HUL (up nearly 4 per cent) being the top gainer and ICICI Bank (down 3 per cent) the worst

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Market Now: FMCG stocks in the sweet spot; HUL gains over 3%
NEW DELHI: A majority of FMCG stocks including Hindustan Unilever (up 3.13 per cent), Procter - Gamble Hygiene - Healthcare (up 2.89 per cent) and Jubilant Foodworks (up 2.12 per cent) were trading in the positive terrain during afternoon trade on Wednesday, giving a boost to the sectoral index.

The Nifty FMCG index was trading 1.10 per

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BSE first Indian exchange to be designated as DOSM by US SEC
Asia’s oldest bourse BSE has become the first Indian exchange to be designated as a ‘Designated Offshore Securities Market’ (DOSM) by the United States Securities and Exchange Commission (SEC), the company said on Wednesday.

The DOSM status allows sale of securities to US investors through the trading venue of BSE without registration of such

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Nifty Bank settles 1% down; PNB top loser
NEW DELHI: Heavy losses in Punjab National Bank (down 11.93 per cent), Bank of Baroda (down 5.55 per cent) and ICICI Bank (down 3.67 per cent) kept Nifty Bank index in the negative zone on Wednesday.

The Nifty Bank index closed the day 1.10 per cent down at 26,182.

Shares of Punjab National Bank plunged after it reported a huge loss for the March

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Market Now: Tata Motors, M M keep Nifty Auto pack up
NEW DELHI: Auto stocks Ashok Leyland (up 1.42 per cent), Motherson Sumi Systems (up 1.36 per cent), Tata Motors (up 1.05 per cent) and Mahindra - Mahindra (up 1 per cent) were trading up during afternoon trade on Wednesday, keeping the sectoral index in the green.

The Nifty Auto index was trading 0.23 per cent up at 11,212 around 01:30 pm.

Sh

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NEW DELHI: Promoter shareholding in Nifty50 companies declined 0.71 per cent in March quarter, showed a report. The promoter holding in the index stood at 44.1 per cent in December quarter, which came down to 43.4 per cent in January-March.

However, mutual fund houses’ holding in Nifty increased by 0.25 per cent to 6.8 per cent in March quarter a

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TVS Motor Q4 profit up 31%, lags Street
TVS Motor Company Ltd posted an about 31 percent increase in quarterly profit on Wednesday, helped by higher vehicle sales at home and growth in exports, but missed analysts' estimates.

Net profit came in at 1.66 billion rupees ($24.47 million) for the fourth quarter ended March 31, compared with a profit of 1.27 billion rupees a year earlier, the

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Market Now: Suzlon Energy, KEC International, BHEL lift BSE Power index
NEW DELHI: Gains in Suzlon Energy (up 4.56 per cent), GMR Infrastructure (up 2.79 per cent), KEC International (up 2.28 per cent) and BHEL (up 1.60 per cent) lifted the BSE Power index in afternoon trade on Wednesday.

The BSE Power was trading 0.22 per cent up at 2,147 around 01:20 pm.

Shares of PTC India (up 1.58 per cent), JSW Energy (up 1.14

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