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Market Now: Kotak Mahindra Bank, HDFC among most active stocks in terms of value

Authors: TheIndianSubcontinent News Agency

NEW DELHI: HCL Tech (Rs 358.19 crore), Kotak Mahindra Bank (Rs 295.68 crore) and HDFC (Rs 219.32 crore) were among the most active stocks in terms of value on NSE during the early trade on Wednesday.

Tata Motors (Rs 212.89 crore), Maruti Suzuki (Rs 197.60 crore), Tata Consultancy Services (Rs 177.17

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Fed likely to keep rates steady; investors bet on June hike

Authors: TheIndianSubcontinent News Agency

WASHINGTON: The US Federal Reserve is set to hold interest rates steady this week but will likely further encourage expectations that it will lift borrowing costs in June on the back of rising inflation and low unemployment.

Investors have all but priced out the chance of a rate hike at the end of the Fed's

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Kotak Bank profit up 27% on robust loan growth in Q4
MUMBAI: Kotak Mahindra Bank on Monday reported a 27% growth in consolidated net profit for the quarter ended March, led by a 25% loan growth which boosted the bank’s net interest income (NII).

On a standalone basis, the bank made a net profit of ₹1,124 crore in March 2018, up 15% from the ₹976 crore it had reported a year earlier.

Vice chairman

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HCL Tech drops 4% post weak Q4 numbers

Authors: TheIndianSubcontinent News Agency

NEW DELHI: Shares of HCL Technologies fell over 4 per cent in Wednesday's trade after IT firm reported 9.9 per cent YoY drop in net profit at Rs 2,228 crore for the March quarter as per Indian accounting standards. Profit fell 4.3 per cent YoY as per US GAAP standards.

Following the announcement, the stock

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NEW DELHI: Domestic stocks settled at a nearly 3-month high on Monday as strong corporate earnings and firm global cues gave risk appetite a lift.

The BSE Sensex closed up 191 points, or 0.55 per cent, at 35,160. NSE's Nifty gained 47 points, or 0.44 per cent, to finish at 10,739.

But a look at momentum indicator -- moving average convergence

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MUMBAI: The stock market extended its quiet ascent with the Sensex reclaiming the 35,000 mark and the Nifty mounting 10,700 for the first time in three months, mirroring strength in Asian equities after geopolitical tensions in the Korean peninsula receded.

Continued flows from domestic institutions, mainly mutual funds, and absence of major

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Authors: TheIndianSubcontinent News Agency

The domestic equity market continued to bounce and stepped into the new week on a buoyant note. While the market remained within a capped range, the benchmark Nifty50 ended Monday’s session with a gain of 47.05 points, or 0.44 per cent. Tuesday was a trading holiday on account of Maharashtra Day.

Speaking

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Silver imports may rise by 10% in the current fiscal as rural India is leaning towards the metal – known as the poor man’s gold – as its price has dropped by 3.29% from a year ago.

Traders and analysts believe that there’s room for silver prices to move up in tandem with base metals which are showing an upward trend, which is also attracting rural

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Buying Bitcoin is not investing: Warren Buffett
Warren Buffett, the 87-year-old American investor and CEO of Berkshire Hathaway, has again scorned investment in cryptocurrencies, claiming that “buying bitcoin is not investing”, in an interview with Yahoo Finance in Omaha, Nebraska, overtheweekend. “There’s two kinds of items that people buy and think they’re investing,” he said. “One really is i
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Strong April sales growth may put auto stocks in the fast lane

Authors: TheIndianSubcontinent News Agency

NEW DELHI: Auto stocks will be in focus on Wednesday after domestic auto companies on Tuesday posted strong sales data for April, mostly beating Street estimates.

This should create upside prospects for some of these stocks even after baking in a weak base.

The country’s largest passenger carmaker Maruti r

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Volatile rupee hasn&t scared importers yet
The rupee’s 2.5% loss in April has pushed Indian importers to seek cover against their unhedged payables, but people tracking the foreign exchange market estimate that about 60-65% of offshore liabilities would still remain uncovered.

That should worry the regulator as unhedged foreign exchange fluctuation risks can create financial stress for

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Mumbai: Mint Street wants the bond market to be the preferred fund-raising choice for local companies seeking debt financing, but Corporate India’s collective journey toward financial maturity and de-risking seems to have hit interest-rate speed bumps.

In April, bond sales halved from the year-ago period: Firms raised ₹13,400 crore in 55 issuances

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L T to divest automation division in Rs 14,000 crore deal

Authors: TheIndianSubcontinent News Agency

NEW DELHI: Engineering and construction major Larsen - Toubro on Tuesday signed a definitive agreement with Schneider Electric for strategic divestment of its electrical and automation (E-A) business for an all-cash deal of Rs 14,000 crore.

The said business reported net revenue of Rs 5,038 crore

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Opec ditches its rear-view mirror for something worse
By Julian Lee

OPEC’s multi-year attempt to steer the oil market by focusing on inventory levels was always like trying to drive a car while looking only in the rear view mirror. The inventory data is historical and reflects what the market was like a month or more ago. By the time OPEC gets the data, the world has already moved on.

If you thought

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It seems everyone is talking about the yield curve right now. It also seems most economists and investors are quick to dismiss what would typically signal a clear economic warning as nothing worth worrying about. But from where I sit, it looks like this could be a red flag worth paying close attention to.

The reason is that the yield curve, or the

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Dabur reports 19% Q4 profit growth at Rs 396 crore

Authors: TheIndianSubcontinent News Agency

NEW DELHI: FMCG major Dabur India on Tuesday reported an 18.9 per cent year-on-year (YoY) rise in consolidated net profit at Rs 396.20 crore for the March quarter. That compared with Rs 333.10 crore profit reported for the corresponding quarter last year.

Consolidated revenue from operation rose 6.2 per

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Lenders accept misra sons- bid for Orissa Manganese
MUMBAI: Creditors led by the State Bank of India have voted in favour of accepting the offer of little-known Ghanashyam Misra - Sons for Adhunik group company Orissa Manganese - Minerals, which involves a 95% haircut, said two executives who did not want to be named.

Ghanashyam, which is said to be engaged in mining, will pay Rs 250 crore

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Stock, forex, commodity markets shut on account of Maharashtra Day
NEW DELHI: Domestic stock, bond, currency and commodity markets are shut on Tuesday on account of Maharashtra Day. Globally, a host of stock markets, including those of China, South Korea, Singapore, Hong Kong, Italy, Spain and Germany, are observing Labour Day, and are closed too.

Foreign flows into India have been negative of late. FPIs in fact

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US stock futures edge up as Washington extends tariff exemptions

Authors: TheIndianSubcontinent News Agency

TOKYO: US stock futures edged up and Australian shares hit seven-week highs on Tuesday after the United States postponed the imposition of steel and aluminium tariffs on Canada, the European Union and Mexico, and offered permanent exemptions for several other allies.

Spread-betters also expected Britain's

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US Fed likely to leave rates alone for now
The Federal Reserve is all but sure to leave interest rates unchanged this week, though steady economic growth and inflation pressures will likely keep the Fed on a path toward further rate hikes later this year.

The central bank is meeting as its board is undergoing a makeover, with a raft of new appointees by President Donald Trump who appear

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Sainsbury's, ASDA merger shakes up retail sector as European shares rise
LONDON: A multi-billion pound merger between British supermarket Sainsbury's and ASDA shook up retail stocks on Monday while European benchmarks rose, on track to end the month of April with a gain.

The pan-European STOXX index rose 0.1 per cent while Germany's DAX gained 0.3 per cent, buoyed by investors' improved risk appetite as tensions

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Australian shares rise as financials outperform; NZ flat

Authors: TheIndianSubcontinent News Agency

Australian shares closed at a more than two-month high on Tuesday, supported by financials and real estate stocks.

The S-P/ASX 200 index firmed 0.5 per cent or 32.5 points to 6015.2 at the close of trade. The benchmark added 0.5 per cent on Monday.

Banks led the race, with the Australian financial

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Wall Street drops as healthcare drags but manages monthly gain
NEW YORK: Wall Street fell on Monday as healthcare stocks slid and investors worried about rising costs for companies as oil prices rose, although the major indexes eked out a gain in April to snap a two-month losing streak.

The healthcare sector .SPXHC, which dropped 1.6 per cent, weighed most heavily on the S-P 500, as shares of Allergan plc

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NEW DELHI: Kotak Mahindra Bank on Monday reported a 15.16 per cent yearly rise in standalone net profit at Rs 1,124 crore for the March quarter, which fell short of Rs 1,230 crore profit projected by analysts in an ET Now poll.

The lender had reported Rs 976 crore profit in the year-ago quarter.

Standalone net interest income (NII) for the

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Tokyo's Nikkei up ahead of US data, Asian trade quiet

Authors: TheIndianSubcontinent News Agency

TOKYO: Tokyo's Nikkei closed higher on Tuesday in quiet trade during Japan's Golden Week holiday period, as investors took to the sidelines ahead of key earnings and economic data in the US.

The benchmark Nikkei 225 index rose 0.18 per cent, or 40.16 points, to end at 22,508.03 but the broader Topix index

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DHFL net up 26% in Q4 on strong home loan show
MUMBAI: Dewan Housing Finance Corporation (DHFL), one of India’s largest non-bank mortgage financiers, reported a 26% growth in net profit in the fourth quarter aided by home loans that make up two-thirds of its portfolio.

Net profit rose to ₹312.4 crore for the quarter ended March 2018, against adjusted profit of ₹248.3 crore in the year-ago per

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Market Now: BSE Capital Goods index up 1%; Welspun Corp among top gainers
NEW DELHI: The BSE Capital Goods index was trading 1 per cent up at 19,451 around 01:45 pm (IST), with shares of Lakshmi Machine Works (up 5.55 per cent) and Welspun Corp (up 3.83 per cent) as top gainers.

Shares of CG Power and Industrial Solutions (up 2.84 per cent), Kalpataru Power Transmissions (up 2.73 per cent), SKF India (up 2.13 per cent),

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D-Street holds breath for Karnataka outcome; brokerages count cost of possible disappointment

Authors: TheIndianSubcontinent News Agency

NEW DELHI: Political heat is all set to rise over the next fortnight, as Karnataka goes into polls. Marketmen believe politics will prevail over economics on Dalal Street as India’s own Silicon Valley sets the tone for a series of state elections running up to the 2019 general elections.

Some 2,655

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ET Intelligence Group: The volume visibility of Balkrishna Industries, a manufacturer of offhighway tyres (OHT) used in mining and agriculture applications, is likely to improve considering a strong demand outlook in its export markets given the encouraging commentary by major companies including Caterpillar and Michelin.

The US-based Caterpillar

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Market Now: Telecom index down; top drag RCom plunges 4%
NEW DELHI: The BSE Telecom index was trading 0.52 per cent down at 1,296 around 01:30 pm (IST) on Monday, with shares of Reliance Communications (down 4.09 per cent) and GTL Infrastructure (down 3.83 per cent) as top drags.

Shares of Bharti Infratel (down 2.21 per cent), OnMobile Global (down 2 per cent), Tata Teleservices (Maharashtra) (down 1.73

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