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In our previous note, we had actually unconditionally pointed out that regardless of a space that was developed, it might be irrelevant and likewise may not have bearish results as it had in fact accompanied a place pattern. While staying to trade on the dotted lines on Wednesday, Nifty saw short-covering at lower levels and ended the day with gains. After opening on a flat
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Tech view: Nifty50 forms bullish candle, but big hurdles ahead
NEW DELHI: Nifty on Wednesday advanced and formed a bullish candle on the daily chart. This was a slight relief for the index, which formed back-to-back bearish candles in last three sessions. But analysts were not enthused.

The daily chart suggests the index has support near the lower end of the Wedge Pattern and bounced therefrom. On the hourly

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Midcap rout fails to keep FPIs away from these five stocks
Mumbai: The outlook for mid- and small-cap stocks appears bleak as these companies are likely to take a bigger hit than their bigger peers in the current downturn. While investors have mostly focused on buying blue-chips in the recent fall, some foreign funds looked at mid-cap stocks since April 1. Here are five smaller companies in which overseas
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L T shores up cash reserves amid Covid-19 uncertainties
Mumbai: Larsen - Toubro, India’s biggest engineering company, raised Rs 6,400 crore in bond sales this week and is poised to raise a similar amount in the next few weeks, seeking to double its cash position to Rs 25,000 crore at a time when it has hundreds of crores of bills coming up for payment in an uncertain environment for receipts.

The

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F O: India Vix falls 5%; options data indicates Nifty range at 8,800-9,500
By Chandan Taparia

Nifty opened with marginal gains and corrected in initial trades on Wednesday. However, every decline got bought into, as the index took support around the 8,950 mark and rallied more than 250 points from lower levels. Nifty managed to again reclaim its track, as buying emerged mainly in index heavyweight Reliance Industries and

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India eases fundraising rules for companies as coronavirus hurts deals
MUMBAI: India’s market regulator on Tuesday temporarily eased some fund-raising regulations for listed entities to give them easier and faster access to capital markets amid the ongoing coronavirus pandemic which has greatly reduced deal activity.

To allow more companies avail fast-track rights issuances, the Securities and Exchange Board of India

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Sebi, RBI examining possible relaxation for rating cos
MUMBAI: Regulators including the Securities Exchange Board of India (Sebi) and the Reserve Bank of India (RBI) are examining a possible relaxation in the time period that rating companies are provided to upgrade a firm following a downgrade.

Given that improvement in the financial position of a corporate could be as swift as it deteriorated due to

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Mumbai: Brokerages have maintained bullish ratings on Bengaluru-based IT major Infosys even as the company’s headline numbers missed estimates for the March quarter and it temporarily suspended its practice of giving guidance citing uncertainty over the impact of Covid-19.

Analysts said improvement in new deal wins and strong free cash flow were

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Stocks in the news: Reliance Ind, MCX, ICICI Bank, ACC and Vodafone Idea
Nifty futures on the Singapore Exchange traded 7 points or 0.08 per cent higher at 8,896.50, indicating a flat start for Dalal Street. Here are a few stocks which may buzz the most in Wednesday's trade:

Reliance Industries:Facebook announced an investment of $5.7 billion (Rs 43,574 crore) for acquiring a minority stake in Jio Platforms Ltd as it

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Sebi chief promises more steps to help corporates tide over virus challenges
NEW DELHI: Sebi will look into issues being faced by corporates due to COVID-19 and consider more steps to help them tide over the challenges as part of its continuing efforts to make it easier to do business even in such difficult times, the regulatory body's chairman Ajay Tyagi told representatives of India Inc on Wednesday.

In a conference call

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Buy Dabur India, price target Rs 540: Suruchi Kapoor
Suruchi Kapoor of Edelweiss Financial Services has a buy call on Dabur India Ltd. with a target price of Rs 540.0 . The current price of Dabur India Ltd. is Rs 498.05 Time period given by the analyst is Intra Day when Dabur India Ltd. price can reach defined target. . Suruchi Kapoor recommended to keep a stoploss at Rs 480 .

Dabur India Ltd.,

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Facebook invests $5.7 billion in India's Reliance Jio
Reliance Industries, Jio Platforms and Facebook on Wednesday announced the signing of binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms. The investment valued Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value ($65.95 billion, assuming a conversion rate of Rs 70 to the US dollar), said a statement
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Sachin Bansal's Navi group credit finance company gets stable rating for Rs 500 crore debt
NEW DELHI: Sachin Bansal-led Navi group's credit finance firm, Chaitanya, on Wednesday said Crisil has given a stable (A-) rating for its bank borrowings of up to Rs 500 crore.

This rating has come at a time when the industry is reeling under lockdown, mandated to curb the deadly coronavirus, Chaitanya said in a release.

Chaitanya's ratings have

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Asia stocks fall after US crude collapses for second day
WASHINGTON/TOKYO: Asian share markets slipped to two-week lows on Wednesday as the floor fell out from under crude prices, exposing the deep economic damage wrought by the global coronavirus health crisis.

Skittish investors sought the safety of government debt as Brent oil futures plunged for a second day to a low last seen almost two decades

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Analyst Calls: SBI Cards, Kotak Bank, Dr Reddy's Labs
Good morning!

The domestic stock market on Wednesday showed early signs of a possible breakout from its consolidation range. And Nifty futures on Singapore traded 10.50 points higher this morning, signalling a good start for Dalal Street.

Bank of America Securities has initiated coverage on SBI Cards with a buy rating and target price of ₹680. SBI

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Stimulus hopes lift Dow Jones after historic oil rout
Wall Street's main indexes rose on Wednesday on signs of more stimulus to aid small businesses ride out the coronavirus-induced economic slump and a recovery in oil prices.

US crude and benchmark Brent prices edged higher after a collapse in the past two days, sending the S-P 500 energy index up 3.4 per cent, with Exxon Mobil Corp and Chevron

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Buy Dr Reddy's Laboratories, target price Rs 4,250: Suruchi Kapoor

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Wall Street tumbles as oil crash stirs pandemic fears
Wall Street tumbled for a second straight day on Tuesday as a collapse in U.S. oil prices and glum forecasts by companies worsened fears of a deep economic downturn.

All 11 S-P 500 sector indexes fell 1.6% or more, with energy sliding for the seventh time in eight sessions a day after the WTI contract crashed below zero as oil traders ran out

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Tata Steel raises Rs 510 crore via NCDs

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UBS cuts target price of NBFCs by up to 65% on growth, NPA concerns
Mumbai: Foreign brokerage UBS has slashed target prices of nonbanking finance majors by 11-65 per cent on slow loan growth and an increase in non-performing loans for all product segments. The brokerage has downgraded Bajaj Finance to ‘sell’ from ‘neutral’ and slashed target price on it to ₹1,600 from ₹4,600 as it believes that risks for further de
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HDFC AMC pays Rs 4.2 crore to market regulator Sebi to settle Essel Group case
MUMBAI: HDFC Mutual Fund and its top management have paid Rs 4.2 crore to the market regulator Sebi to settle the case of the fund’s investments in the debt instruments of Essel Group, which faced a payment crisis last year.

“The HDFC AMC had invested on behalf of the mutual fund in the debt instruments of Essel group of companies…It is alleged t

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Mumbai: Zee Enjoyment Enterprises and Endurance Technologies witnessed block handle Wednesday's trade. For the day, the 30-share Sensex closed 2.42 per cent or 742.84 points higher at 31,379.55, while the 50-share Nifty climbed up 2.29 per cent or 205.85 points higher to shut at 9,187.30. The gains added Rs 2.2 lakh crore to the capitalist
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Buy Dr Reddy's Labs, target price Rs 4,426: Nomura
Nomura has retained buy rating on Dr Reddy's Laboratories and raised target price to Rs 4,426 from Rs 3,684. The stock ended up 4.5 per cent at Rs 4,015.55 on Tuesday while the BSE Sensex closed 1011.29 points down (-3.20 per cent) at 30,636.71.

Dr. Reddy's Laboratories Ltd., incorporated in 1984, has a market cap of Rs 66727.23 crore.

Investment

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Den Networks reports Q4 PAT of Rs 22.52 crore
New Delhi: Cable and distribution and broadband service provider Den Networks on Tuesday reported a consolidated profit after tax of Rs 22.52 crore in the fourth quarter ended March 31.

The company had posted a consolidated net loss of Rs 212.82 crore in the corresponding period of previous fiscal.

Revenue from operations in the fourth quarter

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Inland logistics players' volume may fall 10-15% in current financial year: India Ratings
MUMBAI: Even as the government has announced some relief in the lockdown, inland logistics companies' volume is likely to fall 10-15 per cent in the financial year 2020-21 as the consumption demand could take a longer time for recovery, according to India Ratings.

According to the agency, operational recovery for logistics players will be gradual

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Buy Kotak Mahindra Bank, target price Rs 1,561: Goldman Sachs
Goldman Sachs has a buy rating on Kotak Mahindra Bank with a target price of Rs 1,561 after the bank announced a board meeting on April 22 to consider equity capital raising. The stock ended down 4 per cent at Rs 1,130.45 on Tuesday while the BSE Sensex closed 1011.29 points down (-3.20 per cent) at 30,636.71.

Kotak Mahindra Bank Ltd.,

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Sebi extends compliance timelines for trading, clearing members

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IHCL board approves raising of long term funds not exceeding Rs 750 crore
New Delhi: The Indian Hotels Company (IHCL) announced on Wednesday that its board approved raising of long term funds not exceeding Rs 750 crore by way of external commercial borrowings, foreign currency borrowings, non-convertible debentures, term loans or through any other debt instrument in one or more tranches.

The development comes at a time

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Buy SBI Cards, target price Rs 680: BoA

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Sebi extends validity of observations on public, rights issues by six months
Mumbai: The Securities and Exchange Board of India (Sebi) on Tuesday extended the validity of its observations on all public and rights issues by six months. It also eased fast-track rights issues and reduced the threshold for minimum subscription requirements for a rights issue from the existing 90% to 75% of the offer size.

The regulator said

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