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Mumbai: The Walmart-Flipkart deal, the largest M-A in India by a wide margin, points to a boom in the domestic organised retail industry that is estimated to more than double in four years to about $115 billion by 2020.

Flipkart is expected to make losses until 2020: It has been valued at FY18 EV to gross merchandise value of 2.8 times or FY18

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PC Jeweller rallies 6%, board to take up buyback today
NEW DELHI: Shares of PC Jeweller climbed 6 per cent on Thursday ahead of its board meet on a share buyback proposal.

The company had earlier decided to consider the buyback proposal along with its FY18 results on May 25. However, a sharp fall on the counter prompted the firm to advance the meet to allay investor fears.

The stock rose 6.11 per

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Buy Hindalco Industries, target Rs 325: Edelweiss Financial Services

Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com - ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.

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Asian stocks near 3-week top, dollar eases after US inflation
SYDNEY: Asian markets started on a firm footing and the dollar eased on Friday as softer-than-forecast US inflation data tempered expectations for faster Federal Reserve interest rate rises this year.

Investor sentiment also got a small boost after US President Donald Trump said he had high hopes of "doing something very meaningful" to curtail

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Market Now: PSU bank stocks suffer losses; OBC slips over 2%
NEW DELHI: Most PSU bank stocks were trading down during morning trade on Thursday, keeping the sectoral index in the red.

The Nifty PSU Bank index was trading 0.26 per cent down at 2,848 around 10:20 am, with Oriental Bank of Commerce (down 2.18 per cent) and Indian Bank (down 1.53 per cent) as the top losers.

Shares of Union Bank of India (down

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Mark Mobius says finicky pension funds flee EMs
NEW YORK: You wouldn’t expect pension funds to sell in a hurry. But that’s exactly what they’re doing now in emerging markets, according to Mark Mobius.

Patient as they are, pension funds are also famously riskaverse, said the 81-year old investor who set up Mobius Capital Partners LLP after leaving Franklin Templeton Investments this year. That’s

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A soft US inflation reading released on Thursday has lowered some concerns over likely aggressive rate hikes by the US Fed, while crude prices were stable on Friday morning, sending positive signals to the domestic investors. Let’s check out what all might matter to Dalal Street on Friday:

Singapore trading sets stage for positive startNifty futures

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Federal Bank sinks 10% on lacklustre Q4
NEW DELHI: Kerala-based Federal Bank plunged over 10 per cent on Thursday as March quarter net profit dropped an annual 44 per cent due to a sharp rise in bad loan provisioning.

The results came out on Wednesday.

The lender recognised Rs 872 crore of slippage in January-March to comply with the central bank’s February stipulations that had t

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By Matthew Boyle and Saritha Rai

Walmart Inc.’s deal to buy a controlling stake in India’s biggest online seller is meeting skepticism on Wall Street.

The world’s largest retailer will acquire a 77 percent holding in Flipkart Group for $16 billion, the companies said earlier Wednesday. Flipkart co-founder Binny Bansal and other shareholders will

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Fortis Healthcare’s board picked the acquisition offer made jointly by Sunil Kant Munjal of Hero Enterprise and the Burman family, giving it victory in a hotly contested race that saw the combine beating out bids by TPG-backed Manipal Hospitals, IHH Healthcare and Radiant Life Care-KKR.

“The board, post having the detailed discussions on the pros

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Federal Bank sinks 10% on lacklustre Q4
NEW DELHI: Kerala-based Federal Bank plunged over 10 per cent on Thursday as March quarter net profit dropped an annual 44 per cent due to a sharp rise in bad loan provisioning.

The results came out on Wednesday.

The lender recognised Rs 872 crore of slippage in January-March to comply with the central bank’s February stipulations that had t

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Magma Fincorp reports Rs 72 crore net profit on better asset quality
Kolkata: Magma Fincorp announced Rs 71.5 crore net profit for the fourth quarter to March against Rs 122 crore net loss in the year ago period. The non-bank lender said it witnessed higher loan growth in the fourth quarter and its better repayment collection helped it post a profit.

Its loan disbursal in the period under review grew 51%

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Future Group stocks lap up Biyani cues, rally up to 17%
NEW DELHI: Future Group companies bolted higher today on reports that the country’s biggest brick-and-mortar player is considering selling at least 10 per cent stake to a global retailer.

Future Enterprises raced 17.24 per cent early today to hit a high of Rs 42.50. At 10:02 am, the scrip was up 12 per cent. That of Future Consumer rose 6.60

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Market Now: Over 50 stocks hit 52-week lows on NSE
NEW DELHI: Over 50 stocks, including Alok Industries, Ambuja Cements, Bharati Defence and Infrastructure and Can Fin Homes, defied positve market stance to hit fresh 52-week lows on NSE in Thursday's trade.

IDFC Bank, Idea Cellular, Capital First, D.B.Corp, GTL Infrastructure, Uttam Sugar Mills and Uttam Value Steels also appeared among the stocks

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Jindal Steel back in black, reports Q4 profit at Rs 145 crore
Jindal Steel and Power (JSPL) witnessed a turnaround in the fourth quarter and came back to profit on a standalone basis after 13 quarters. The reported a net profit of Rs 145 crore in Q4FY18 against a loss of Rs 74 crore last quarter and a loss of Rs 116 crore in the same quarter last year.

However, on a consolidated basis, net loss of the

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ETIG: The entry of global retail giant Walmart into India through Flipkart’s acquisition has concerned several retailers and their investors alike. Shares of some of the retailers, including Avenue Supermarts Future Retail, and Trent have fallen by 3-3.5 per cent since May 2 after the news reports stated that the deal between Flipkart and Walmart
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Market Now: Over 50 stocks hit 52-week lows on NSE
NEW DELHI: Over 50 stocks, including Alok Industries, Ambuja Cements, Bharati Defence and Infrastructure and Can Fin Homes, defied positve market stance to hit fresh 52-week lows on NSE in Thursday's trade.

IDFC Bank, Idea Cellular, Capital First, D.B.Corp, GTL Infrastructure, Uttam Sugar Mills and Uttam Value Steels also appeared among the stocks

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NEW DELHI: The domestic equity market shrugged off worries over US pullout from the Iran nuclear deal and notched up gains on Wednesday.

Heavy buying in index heavyweights HDFC Bank, Reliance Industries and TCS gave a good 103-point lift to the S-P BSE Sensex. NSE’s Nifty rose 24 points to 10,741.

Here’s a look at the 10 key things you would l

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By Krista Gmelich and Austin WeinsteinWalmart Inc. sank after announcing its largest acquisition ever, a 77 percent holding in India’s Flipkart Group for $16 billion. Wall Street got a bit of sticker shock as Baird noted that “the price tag is hefty” and Susquehanna described the expected short-term dilution as “brutal.” Analysts were more optimis
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Buy Kajaria Ceramics, target Rs 690: Edelweiss Financial Services
Edelweiss Financial Services has a buy call on Kajaria Ceramics Ltd. with a target price of Rs 690. The current market price of Kajaria Ceramics Ltd. is Rs 530.1. Time period given by the brokerage is a year when Kajaria Ceramics Ltd. price can reach defined target.

Kajaria Ceramics Ltd., incorporated in 1985, is a midcap company with a market

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F O: Bullish candle on Nifty chart shows supports are intact
By Chandan TapariaThe Nifty50 index opened flattish on Wednesday but managed to hold its immediate support in the 10,680-10,690 zone and headed towards the 10,766 level. It formed a bullish candle and almost engulfed the bearish candle seen on the scale, which suggests support remained intact at lower levels.

As long as it holds above 10,680, Nifty

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US producer prices rise slightly after recent gains
NEW YORK: US producer prices barely rose in April after strong gains in the first quarter, held down by a moderation in the cost of both goods and services, which could ease fears that inflation pressures were rapidly building up.

The slowdown in wholesale price growth reported by the Labor Department on Wednesday is likely temporary as

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Market Now: Sensex, Nifty trade up; these stocks zoom over 10%
NEW DELHI: Shares of Future Market (up 15.23 per cent), Future Enterprises (up 12.57 per cent), Artemis Global Life Sciences (up 11.12 per cent) and Future Enterprises (up 11.02 per cent) surged over 10 per cent on NSE during the early trade on Thursday.

Stocks such as Oil Country Tub (up 9.39 per cent), Coral India Finance (up 9.23 per cent), Them

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Tech view: Nifty defends 10,700 level, but signals cautious stance
NEW DELHI: The Nifty50 traded in a narrow range on Wednesday to eventually settle higher. This was the third consecutive session when the index defended the 10,700 level and made a higher highs and higher lows, suggesting that supports for the index are shifting higher.

Wednesday’s was the second session when the index rebounded from the 10,690 l

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Market Now: ICICI Bank, HDFC Bank keep Nifty Private Bank index in the green
NEW DELHI: Gains in shares of ICICI Bank (up 0.93 per cent), RBL Bank (up 0.79 per cent) and HDFC Bank (up 0.66 per cent) were keeping the Nifty Private Bank index a little up in Thursday's trade.

The Nifty Private Bank index was trading 0.12 per cent up at 15,039 around 10:30 am.

Shares of IndusInd Bank (up 0.22 per cent) and Kotak Mahindra Bank

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S KoreaMirae to enter Indiainvestment banking with $300 million
MUMBAI: South Korea’s Mirae will invest $300 million to set up investment banking operations in India and compete with established leaders like JM Capital, Kotak and ICICI Securities.

The Indian operations of Mirae Asset Capital Markets India will be headed by Benedict Ryu, and supported by Aditya Loonkar, a former senior executive of Investec,

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Nifty IT top sectoral gainer; TCS leads the pack of gainers
NEW DELHI: Nifty IT index remained the top gainer among the sectoral indices on Wednesday.

The Nifty IT index settled 0.55 per cent up at 13,453.

Shares of Tata Consultancy Services (up 1.40 per cent), Tata Elxsi (up 1.13 per cent), OFSS (up 1.05 per cent), HCL Technologies (up 0.80 per cent), Infosys (up 0.44 per cent), KPIT Technologies (up 0.13

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Market Now: ICICI Bank, HDFC Bank keep Nifty Private Bank index in the green
NEW DELHI: Gains in shares of ICICI Bank (up 0.93 per cent), RBL Bank (up 0.79 per cent) and HDFC Bank (up 0.66 per cent) were keeping the Nifty Private Bank index a little up in Thursday's trade.

The Nifty Private Bank index was trading 0.12 per cent up at 15,039 around 10:30 am.

Shares of IndusInd Bank (up 0.22 per cent) and Kotak Mahindra Bank

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Buy Godrej Consumer Products, target Rs 1265: Edelweiss Financial Services
Edelweiss Financial Services has a buy call on Godrej Consumer Products Ltd. with a target price of Rs 1265. The current market price of Godrej Consumer Products Ltd. is Rs 1094.1.

The time period given by the brokerage is a year when Godrej Consumer Products Ltd. price can reach defined target. Godrej Consumer Products Ltd., incorporated in the

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YES Bank, Axis Bank keep Nifty Bank index in the green
NEW DELHI: Gains in YES Bank (up 1.41 per cent), Axis Bank (up 1.15 per cent) and Kotak Mahindra Bank (up 0.92 per cent) helped Nifty Bank index close the day in the green zone.

The Nifty Bank index settled 0.25 per cent up at 26,154 on Wednesday.

Shares of HDFC Bank (up 0.56 per cent), IndusInd Bank (up 0.40 per cent) and Punjab National Bank

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