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Market Now: Nifty Metal top loser among sectoral indices; Hindalco, Vedanta among the top drags

Authors: Jordan

NEW DELHI: The Nifty Metal index was trading as the top loser among the sectoral indices on NSE during the early trade on Friday.

The index was trading 0.93 per cent down at 3,639 around 10:30 am (IST) with Hindustan Zinc (down 2.57 per cent) as the top loser.

Hindalco Industries (down 1.49 per cent), Nalco (down 1.43 per cent), JSW

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L T Finance Q4 profit jumps 28% YoY to Rs 406 crore

Authors: Jordan

Mumbai: L-T Finance today posted 28% growth in consolidated profit after tax during the fourth quarter of the financial year aided by robust loan demand and improvement in asset quality.

During the quarter, company reported profit after tax of Rs 406 crore against Rs 316 in the same period a year ago. The board has recommended a

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Ethereum to rally 2,000% in 8 months This tech hotshot firmly believes so

Authors: Jordan

Cryptocurrencies are having a rough ride in India due to regulatory issues. But that has not stopped Internet entrepreneur Alexis Ohanian from airing his bullish views on Bitcoin and Ethereum, which some see as a teaser for domestic investors.

Ohanian, the Reddit co-founder, believes that Ethereum can hit $15,000 by 2018-end,

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Goldman, JPMorgan predict the worst may be over for the global economy

Authors: Jordan

By Simon Kennedy - Enda CurranThe world economy showed signs of stabilising after a recent moderation as manufacturing activity strengthened for the first time this year.

A purchasing managers index for factories across more than 40 countries rose to 53.5 in April from March’s six-month low of 53.3, IHS Markit said in a report o

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PNB Housing Finance Q4 net up 44% at Rs 219 crore

Authors: Jordan

Mumbai: PNB Housing Finance reported 44% growth in profit after tax during the fourth quarter of the financial year aided by loan demand, improvement in interest margin and lower operating expenses.

During the quarter, company reported profit after tax of Rs 219.2 crore against Rs 152.4 in the same period a year ago. The board

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Top intraday trading ideas for afternoon trade for Thursday, 3 May 2018

Authors: Jordan

NEW DELHI: The Nifty50 index was trading 56 points down at 10,662 around 12 pm (IST) on Thursday following across the board selling triggered by weak global cues.

ETMarkets.com collated a list of trading ideas from various experts and here's what they had recommended for today's afternoon trade:

Pritesh Mehta, head-technical

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Fed calm over 2% inflation shows hikes will be gradual

Authors: Jordan

Federal Reserve officials made doubly sure to convey a relaxed attitude toward inflation rising above 2 per cent, mentioning the “symmetric” nature of their target twice in a statement Wednesday that signalled no shift to a faster pace of monetary policy tightening.

Since March 2017, the Federal Open Market Committee has used that

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Emami reports 27% drop in profit for March quarter

Authors: Jordan

Kolkata: Emami Ltd reported a decline in net profit by more than 27% to Rs 60.86 crore for the fourth quarter ending March 2018 from Rs 83.3 crore in the same period last year which the makers of Navratna and BoroPlus attributed to writing off MAT credit entitlement of Rs 14 crore.

The Kolkata-based FMCG firm’s revenue went up by 1

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Market Now: Auto stocks mirror bearish market mood; Eicher Motors, Tata Motors among top losers

Authors: Jordan

NEW DELHI: Most auto stocks were suffering losses during Thursday's trade, mirroring prevailing bearish market sentiment.

The Nifty Auto index was trading 0.62 per cent down at 11,437 around 12:05 pm (IST) with Amara Raja Batteries (down 3.20 per cent), Bharat Forge (down 2.26 per cent), Eicher Motors (down 2.20 per cent) and Tata

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ETMarkets Evening Podcast: Market falls; what's your next step

Authors: Jordan

Hi friends! You are listening to ETMarkets Evening Podcast.

This is Abhinav Kaul, getting you today's trading wrap, plus insights from seasoned market analysts.

Stocks had a tough time on Thursday trying to navigate the fog around the scheduled trade meeting between the US and China.

But ultimately, they found themselves shackled.

Ev

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Chola MS tops Rs 4,000 crore in premium during FY18

Authors: Jordan

Chennai: Cholamandalam MS General Insurance Company, a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group, Japan has reported a Gross Written Premium of Rs 4,103 crore during FY2018, registering a year on year growth of 30.9%.

During the year FY 2017-18, the company said the Combined Ratio (CoR), which is

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What the payroll numbers really show

Authors: Jordan

By Soumya Kanti Ghosh and Pulak Ghosh

In Jan’18, Ghosh - Ghosh published a study titled, “Towards a Payroll Reporting in India”, and advocated the need for monthly payroll reporting in India like in other economies. It is heartening to note that the government has finally accepted the recommendations and released the monthly

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The price of Musk cutting off analysts For Tesla, it's $2 billion

Authors: Jordan

Tesla Inc chief Elon Musk's refusal to answer "boring" Wall Street questions about the electric car maker's financial condition sent shares down as much as 7 percent on Thursday and spurred concerns about its ability to raise money in the future.

Tesla's bonds followed the shares lower and, with at least three brokerages cutting

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Authors: Jordan

NEW DELHI: Domestic shares slipped into the negative zone on Thursday, dragged by IT stocks. Weaker global cues amid nervousness over the Sino-US trade talks weighed on investor sentiment.

The S-P BSE Sensex dropped 73 points, or 0.21 per cent, to 35,103, while the broader Nifty50 index of the National Stock Exchange (NSE) fell

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Market Now: Vedanta, Coal India drag Nifty Metal pack down

Authors: Jordan

NEW DELHI: Losses in Vedanta (down 1.41 per cent), SAIL (1.30 per cent), NMDC (1.17 per cent) and Coal India (0.66 per cent) pushed the Nifty Metal index into the red on Thursday.

The sectoral index was trading 0.42 per cent down at 3,630 around 11:45 am.

Hindustan Copper (down 0.64 per cent), Hindustan Zinc (0.60 per cent), Tata

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Sebi puts in place new framework to check non-compliance of listing rules

Authors: Jordan

New Delhi: Sebi has put in place a stronger mechanism to check non-compliance of listing conditions, wherein exchanges will have powers to freeze promoter shareholding and even delist the shares of such defaulting companies.

The move is aimed at maintaining consistency and adopting a uniform approach in the matter of levy of fines

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Tata Steel boosts Nifty Metal pack

Authors: Jordan

NEW DELHI: Most metal stocks closed Thursday's session with gains.

The top sectoral gainer on NSE, Nifty Metal index settled 0.76 per cent up at 3,673 on Thursday, backed by gains in index heavyweight Tata Steel (up 1.91 per cent).

Hindalco Industries (up 1.53 per cent), JSW Steel (up 1.32 per cent), Nalco (up 1.19 per cent), Vedanta

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Market Now: Pharma pack in pain; Biocon plunges 5% on reports of USFDA observations

Authors: Jordan

NEW DELHI: The Nifty Pharma index was trading 1.49 per cent down at 8,828 around 11:30 am (IST) with all components in the red.

Biocon (down 5.25 per cent) plunged the most in the index on reports of USFDA observations of the company's Bangalore facility.

Reuters reported the company saying that its Bangalore sterile drug product

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Gold Q1 imports down 50% due to down-stocking by traders: WGC

Authors: Jordan

Mumbai: India's gold imports in the first quarter of this year has dipped by 50 per cent to 153 tonne compared to the same period last year due to down-stocking by traders, according to the World Gold Council (WGC).

Imports stood at 260 tonne in the corresponding quarter (January-March) of 2017, according to data by WGC.

The total

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Tech view: Nifty forms 'Hammer'; weekly charts may set new trend

Authors: Jordan

NEW DELHI: The Nifty50 saw some late recovery from a crucial support zone on Thursday even as the bulls struggled all through the session to enter the positive terrain.

The index formed a bearish candle resembling 'Hammer' pattern on the daily chart. It made lower high and lower low. The index may see profit booking in the extreme

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Market Now: Realty stocks crack; IB Real Estate plunges 4%

Authors: Jordan

NEW DELHI: Most realty stocks including Indiabulls Real Estate (down 3.96 per cent), HDIL (down 3.76 per cent) and Oberoi Realty (down 3.71 per cent) were suffering heavy losses during Thursday's trade.

The Nifty Realty index was trading 2.34 per cent down at 308 around 11:15 am (IST).

Unitech (down 2.61 per cent), DLF (down 2.43

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JSW Energy posts Rs 483 crore loss in Q4

Authors: Jordan

Sajjan Jindal-led JSW Energy today reported a consolidated net loss of Rs 483.07 crore for the quarter ended March 31, mainly due to provisioning of Rs 418 crore related to a loan.

The company had reported a consolidated net profit of Rs 23.72 crore in the year-ago period.

The said loan was advanced for acquisition of a power plant

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Nifty FMCG pack declines over 1%; United Spirits top loser

Authors: Jordan

NEW DELHI: The Nifty FMCG index closed Thursday's session with a loss of 1.15 per cent.

The index settled at 28,486 with all components losing.

United Spirits (down 2.65 per cent) stood as the top loser of the index, followed by Godrej Industries (down 2.47 per cent), United Breweries (down 2.47 per cent), Colgate-Palmolive (India)

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Fund manager Mobius, ex-Franklin colleagues, launch new firm

Authors: Jordan

LONDON: Veteran emerging markets fund manager Mark Mobius has teamed up with two former colleagues from US asset manager Franklin Templeton to launch investment firm Mobius Capital Partners.

Carlos Hardenberg, who was lead manager for the flagship Templeton Emerging Markets Investment Trust, and Greg Konieczny, former manager of

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The worldmost elite club for traders is getting tougher to join

Authors: Jordan

By Alastair Marsh

In an industry where power and influence are measured in dollars and cents, this may be the most exclusive club in finance: The price of admission is at least $25 million.

It has no name and no board of directors but has a roster drawn from the world’s wealthiest and most successful traders. Members essentially b

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HCL Tech extends slide, plunges 8%; what experts say

Authors: Jordan

NEW DELHI: Shares of HCL Technologies slumped nearly 8 per cent in Thursday's session, extending its slide to the second session following IT major's less-than-expected fourth quarter results.

The stock fell 7.74 per cent to hit a low of Rs 923.55 on BSE. Brokerages see limited downside ahead.

A pause in organic growth in recent

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Market Now: Nifty Bank index in the red; YES Bank, HDFC Bank top drags

Authors: Jordan

NEW DELHI: The Nifty Bank index was trading 0.13 per cent down at 25,534 around 11:05 am (IST).

Federal Bank (down 1.92 per cent), Bank of Baroda (down 1.91 per cent) and IDFC Bank (down 1.36 per cent) were the top losers in the Nifty Bank index.

RBL Bank (down 0.99 per cent), YES Bank (down 0.71 per cent), HDFC Bank (down 0.61 per

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Authors: Jordan

By Joanna OssingerInvestors should just relax, according to Goldman Sachs Group Inc.

Appetite for riskier assets such as stocks and high-yield bonds has been suppressed by a number of factors that have come up around the same time, but the headwinds may be transitory, according to the New York-based investment bank. The firm’s e

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Yesteryearblue-eyed boy back with a bang; D-Street is loving it

Authors: Jordan

IT, once the blue-eyed boy of India Inc, has been the least-talked-about sector for more than a decade now, as the bellwether industry gradually lost its sheen with the decline of western economies.

But that dry spell may be getting over, as domestic fund managers are again beginning to take interest in this space.

According to data

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Market Now: Over 15 stocks defy negative market mood, hit fresh 52-week highs on NSE

Authors: Jordan

NEW DELHI: Over 15 stocks including Cyient, Indiabulls Ventures, Pidilite Industries, Pioneer Distilleries, Sandhar Technologies and Ujjivan Financial Services hit fresh 52-week highs on NSE during the early Thursday trade, defying negative market mood.

However, over 90 stocks including Balrampur Chini Mills, Bharat Electronic and

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