Tuesday, 31 October 2017

Bharti Infratel Said It Would Explore Acquiring An Additional Stake

Bharti Infratel said it would explore acquiring an additional stake in Indus Towers, a move likely to create India's largest mobile tower company.

"The board of directors of Bharti Infratel, in their meeting held on October 30, 2017, has decided to explore and evaluate acquisition of stake in one or more tranches in Indus Towers with the aim of making it a subsidiary or wholly owned subsidiary of Bharti Infratel," the company said in a statement.

Bharti Infratel and Vodafone India hold 42 percent stake in Indus Towers and rest is held by Idea Cellular.

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The BSE Midcap Index Was Up 0.3 Percent And Smallcap Gained 0.5 Percent

The 30-share BSE Sensex was up 0.06 points at 33,266.22 and the 50-share NSE Nifty fell 9.30 points to 10,354.40.

The BSE Midcap index was up 0.3 percent and Smallcap gained 0.5 percent. About 1,219 shares advanced against 753 declining shares on the BSE.

Axis Bank, Tata Steel, Bharat Electronics, PNB and Graphite India were most active shares on the NSE.

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Monday, 30 October 2017

Equity Benchmarks As Well As Broader Markets Extended Gains

Equity benchmarks as well as broader markets extended gains in morning mixed Asian trade.

The 30-share BSE Sensex was up 150.48 points at 33,307.70 and the 50-share NSE Nifty rose 55.20 points to 10,378.20.

The BSE Midcap and Smallcap indices gained 1 percent each on strong market breadth. About three shares advanced for every share falling on the BSE.

Reliance Industries, SBI, ONGC, IOC, Tata Motors, ICICI Bank, BPCL and Maruti Suzuki rose 1-4 percent.

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ICICI Bank Share Price Gained 1.5 Percent After It Reported Results

ICICI Bank share price gained 1.5 percent after it reported results which missed most analyst estimates but stable asset quality stole the show for the private sector lender. Most brokerage firms maintained their rating but raised their respective target price up to Rs 400 which translates into an upside of 33 percent.

ICICI Bank witnessed improvement in asset quality during the second quarter of FY18 as it awaits the Reserve Bank of India’s report on divergences to be reported in the third quarter.

In Q1 of FY18, the bank’s net NPAs were the lowest in the last seven quarters at Rs 25,306 crore. The Q2 net NPAs stood even lower at Rs 24,130 crore.

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Friday, 27 October 2017

Yes Bank Crashes 10% As Global Brokerages Turn Cautious Post Q2 Results

Global brokerages turned cautions on Yes Bank as they maintain either sell, hold or neutral rating, a day after the private sector lender reported a divergence in gross bad loans of Rs 6,355 crore for FY17.

Reacting to the results, shares of Yes Bank plunged nearly 10 percent in opening trade on Friday. It hit a low of Rs 298.55. At 09:20 am, Yes Bank was trading 8 percent lower at Rs 304.

Yes Bank reported a 25 percent jump in net profit for the second quarter ended September 2017. It increased to Rs 1,002 crore from Rs 802 crore a year earlier, but the bank had to set aside Rs 447 crore as provisions which were one-and-a-half times higher than the Rs 162 crore reported a year earlier, said a report.

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Equity Benchmarks Remained Higher In Morning, With The Nifty Hitting

Equity benchmarks remained higher in morning, with the Nifty hitting a record high of 10,366.15 on first day of November series.

The 30-share BSE Sensex also touched a fresh all-time high of 33,270.62 in opening today, trading 69.98 points higher at 33,217.11 while the 50-share NSE Nifty rose 5.20 points to 10,349.

The market breadth remained positive as about 1,272 shares advanced against 717 declining shares on the BSE.

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Thursday, 26 October 2017

The Nifty50 Hit Historic High In Opening Trade In Wednesday’s Session

The Nifty50 hit historic high in opening trade in Wednesday’s session and closed at historic levels of 10,295.35. The Nifty Bank rallied 4 percent on Wednesday session with strong volumes seen on charts, after the government announced Rs 2.11 lakh crore recapitalisation for PSU banks.

Technically, the Nifty has given a double bottom breakout last week only as mentioned in the earlier article and in the last session, the index broke again forming a bullish Flag pattern adding strong conviction of it heading towards 10,600.

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The Rupee Appreciated By 11 Paise To 64.78 Against The Dollar In Morning

The rupee appreciated by 11 paise to 64.78 against the dollar in morning amid sustained selling of the American currency by exporters and banks.

Forex dealers said that apart from weakness in the dollar against major currencies overseas, robust foreign fund inflows supported the rupee.

According to the provisional exchange data, FPIs invested Rs 3,582.50 crore on net basis in equities yesterday.

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Wednesday, 18 October 2017

Equity Benchmarks Remained Lower In Morning, With The Nifty Breaching 10,200 Level

Equity benchmarks remained lower in morning, with the Nifty breaching 10,200 level, weighed by banks.

The 30-share BSE Sensex was down 106.08 points at 32,503.08 and the 50-share NSE Nifty was down 39.50 points at 10,195.00.

The broader markets outperformed benchmarks, trading flat on positive breadth. About 1,029 shares advanced against 926 declining shares on the BSE.

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Axis Bank Cracks 7% After Sharp Spike In Q2 Slippages, Analysts Cut Target Price

Axis Bank share price fell as much as 7.4 percent in morning trade Wednesday as analysts slashed target price on the stock after the sharp spike in Q2 slippages.

While retaining buy call on the stock, Bank of America Merrill Lynch cut its target price to Rs 590 from Rs 650 per share and estimated Rs 12,000 crore of further new slippages in second half of FY18.

"We cut EPS forecasts by 34/13 percent for FY18/19 but good retail franchise value will drive back return on equities to 14/19 percent by FY19/20," the research house said.

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Tuesday, 17 October 2017

The Rupee Dropped By 15 Paise To 64.89 Against The US Currency Today

The rupee dropped by 15 paise to 64.89 against the US currency today, breaking its six-day winning streak.

A spurt in dollar demand from importers amid sustained foreign fund outflows weighed on the rupee.

Dealers said the dollar's gains against some other currencies overseas also impacted the domestic currency.

Yesterday, the rupee had ended at more than three-week high of 64.74 a dollar, surging by 19 paise helped by extremely bullish macro indicators.

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Equity Benchmarks Continued To Consolidate After The Rally In Previous

Equity benchmarks continued to consolidate after the rally in previous three consecutive sessions.

The 30-share BSE Sensex was down 67.46 points at 32,566.18 and the 50-share NSE Nifty fell 12.90 points to 10,218.

The broader markets outperformed benchmarks, with the BSE Midcap and Smallcap indices rising 0.3 percent each. About 1,093 shares advanced against 903 declining shares on the BSE.

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Monday, 16 October 2017

Shares Of Glenmark Pharma Added 1 Percent In Morning

Shares of Glenmark Pharma added 1 percent in morning as it has received approval for Aprepitant Capsules.

Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration for Aprepitant Capsules USP 40 mg, 80 mg, and 125 mg.

Aprepitant Capsules USP is a generic version of Emend Capsules, 40 mg, 80 mg, and 125 mg, of Merck Sharp & Dohme Corporation.

As per IMS Health sales data for the 12 month period ending August 2017, the Emend Capsules achieved annual sales of approximately USD 64.9 million.

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The Indian Market Is Going Through A Diwali Cheer Phase As Frontline Indices

The Indian market is going through a Diwali cheer phase as frontline indices hit fresh record highs, backed by macro data and steady earnings trend in its first week of the season.

Having said that, these are still early days as companies with good numbers generally declare results in the early part of the season. “Ex-financials, companies in our coverage should have 10 percent growth,” Krishna Kumar Karwa, MD, Emkay Global Financial Services told CNBC-TV18 in an interview.

He expects rural India-focussed stories to do well, especially in the tractor segment. “The valuations are reasonable in some stocks and the government will continue to focus on that segment,” he said, adding that organised retail segment with focus on tier-2 and tier-3 towns were growing as the focus is shifting.

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Friday, 13 October 2017

The Market Breadth Was Positive As About 1,383 Shares Advanced Against 828 Declining Shares

Benchmark indices extend rally in morning, with the Nifty inching towards its previous record high of 10,178.95 hit on September 19.

The 30-share BSE Sensex was up 237.20 points at 32,419.42 and the 50-share NSE Nifty rose 68.90 points to 10,165.30.

The market breadth was positive as about 1,383 shares advanced against 828 declining shares on the BSE.

Bharti Airtel , Reliance Industries and TCS were most active shares on the National Stock Exchange.

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Lupin Readies For A Mega Specialty Drug Play With $1-bn War Chest

Lupin, India’s second largest drug maker by sales, said its balance sheet allows it to leverage up to one billion dollars as war chest for acquisitions as it aspires to build a specialty branded business in US focusing on women’s health.

“We have the capacity to lever our balance sheet up to a billion dollars, but that doesn't necessarily mean that we are going to spend one billion dollars in one single tranche, it is obviously going to be spread across several tranches,” said Ramesh Swaminathan, Chief Financial Officer of Lupin.

Lupin on Wednesday said it has agreed to buy US-based Symbiomix Therapeutics for USD 150 million. The acquisition gives Lupin control over Symbiomix’s lead product, Solosec oral granules, for the treatment of bacterial vaginosis in adult women.

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Thursday, 12 October 2017

Equity Benchmarks Maintained Opening Gains, Backed By Reliance Industries

Equity benchmarks maintained opening gains, backed by Reliance Industries, HDFC Bank, metals and infra stocks.

The 30-share BSE Sensex was up 79.35 points at 31,913.34 and the 50-share NSE Nifty rose 31.40 points to 10,016.20.

The BSE Midcap index was up 0.4 percent and Smallcap gained 0.7 percent on positive market breadth. About 1,361 shares advanced against 528 declining shares on the BSE.

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Tata Consultancy Services Announce Its July September Quarter Earnings Today

Tata Consultancy Services, the country's largest software services provider, will announce its July-September quarter earnings today after market hours.

Profit after tax for the quarter is expected to increase 4 percent sequentially to Rs 6,183 crore and revenue may grow 2.6 percent to Rs 30,356 crore, according to average of estimates of analysts polled by CNBC-TV18.

Revenues in dollar terms are likely to register a 3 percent at USD 4,731 million in the quarter ended September 2017, compared with USD 4,591 million in previous quarter.

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Wednesday, 11 October 2017

Sensex Extends Gains, Nifty Above 10,050; Bharti Airtel, Idea Up 4%

The market breadth remained strong as about 1,406 shares advanced against 622 declining shares on the BSE.

Bharti Infratel, Bharti Airtel and Idea Cellular shares prices rallied 3-4.5 percent on a media report indicated that KKR-led fund is in talks to buy tower business.

"A consortium led by US buyout fund KKR and comprising Canada Pension Plan Investment Board, Abu Dhabi Investment Authority and GIC Singapore is in discussions to acquire Indus Towers, the world’s largest wireless infrastructure company, and telecom tower company Bharti Infratel for USD 11 billion," a media report said quoting multiple people in the know.

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Nifty Might Make Its Way Towards 10200; 5 Stocks Which Can Give Up To 18% Return

Since the beginning of the October series, we have been continuously seeing buying interest by FIIs in the derivative segment which clearly indicates a long buildup.

Additionally, the rollover data to October series also indicates long rollover. As far as Nifty futures is concerned, it is trading well above 10,000 levels which have the highest open concentration in call strike, which signals further short covering.

The range of 9,900-10,100 levels will remain crucial for this week as indicated by option open interest concentration.

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Tuesday, 10 October 2017

Equity Benchmarks Remained Positive In Morning

Equity benchmarks remained positive in morning, backed by index heavyweights Reliance Industries, Infosys and HDFC Bank.

The 30-share BSE Sensex was up 83.17 points at 31,930.06 and the 50-share NSE Nifty gained 22.95 points at 10,011.70.

The BSE Midcap and Smallcap indices gained 0.6-0.8 percent on strong breadth. About two shares advanced for every share falling on the BSE.

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The Rupee Appreciated By 9 Paise To 65.26 Against The Dollar Today

The rupee appreciated by 9 paise to 65.26 against the dollar today as rising risk appetite pushed back the US currency amid a higher opening in domestic equities.

The risk-on approach pushed exporters and banks increasingly away from the dollar.

The greenback ran out of luck overseas too, snapping its winning streak, as it fell against major peers.

The rupee uptrend got a leg-up from a positive opening in the local stock market, according to traders.

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Monday, 9 October 2017

Sensex Gains 100 Pts, Nifty Reclaims 10,000; Jewellery Stocks Rally

The 30-share BSE Sensex was up 93.76 points at 31,907.98 and the 50-share NSE Nifty rose 24.85 points to 10,004.55.

About 1,482 shares advanced against 654 declining shares on the BSE.

Jewellery stocks rallied 2-20 percent after the Government withdrew its GST notification on gems and jewellery.

Gitanjali Jems, PC Jeweller, Titan Company, Tara Jewels and TBZ gained 4-7 percent as Permanent Account Number card will no longer be mandatory on the purchase of jewellery for over Rs 50,000.

The government has taken this decision at its 22nd GST Council meeting on Friday.

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The Rupee Went Up 6 Paise To 65.31 Against The Dollar Today

The rupee went up 6 paise to 65.31 against the dollar today after the US currency found no takers among exporters and banks.

The dollar losing sheen against other currencies overseas supported the local unit, traders said. A higher start in domestic equities added to the upside, they added.

On Friday, the rupee had depreciated by 24 paise to end at 65.38 on persistent demand for the American currency from importers.

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Friday, 6 October 2017

Sensex Gains Over 170 Pts, Nifty Above 9950; Metal Stocks Rally

Shares of Future Retail and Shoppers Stop rose 6-9 percent intraday on Friday as investors cheered the deal to buy HyperCity.

On Friday, Future Retail announced that it will acquire Shoppers Stop's loss-making retail chain HyperCity for Rs 655 crore in a part cash and part stock deal.

The deal, which is likely to be completed in the next three to five months, will see HyperCity Retail India Limited become a wholly-owned subsidiary of Future Retail.

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Benchmark Indices Extended Their Gains From The Morning Session

Benchmark indices extended their gains from the morning session, with the Nifty clocking 9950-mark during the day’s trade.

The Sensex was up 173.50 points at 31765.53, while the Nifty was up 63.60 points at 9952.30. The market breadth was positive as 1,448 shares advanced against a decline of 437 shares, while 58 shares were unchanged.

NTPC, Tata Steel and GAIL were the top gainer.

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Thursday, 5 October 2017

Benchmark Indices Extended Their Gains From The Morning Session

Benchmark indices extended their gains from the morning session, with the Nifty inching towards 9950-mark.

The Sensex was up 97.95 points at 31769.66, while the Nifty was up 29.75 points at 9944.65. The market breadth was positive as 1,347 shares advanced against a decline of 537 shares, while 59 shares were unchanged.

Mahindra and Mahindra, Dr Reddy’s Laboratories, Yes Bank and Aurobindo Pharma were the top gainers, while Bharti Airtel, Hero MotoCorp, Bharti Infratel and Power Grid Corporation.

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The Sensex Was Up 48.81 Points At 31720.52, While The Nifty Was Up 11.30 Points

The Sensex was up 48.81 points at 31720.52, while the Nifty was up 11.30 points at 9926.20. The market breadth was positive as 296 shares advanced against a decline of 110 shares, while 18 shares were unchanged.

In the broader markets, midcaps have outperformed the frontline indices, while on a sectoral level, Nifty Bank, IT and infra are flat with a negative bias.

Mahindra and Mahindra, HUL and Reliance were the top gainers, while NTPC, Wipro, Bharti Infratel and Tata Motors lost the most.

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Wednesday, 4 October 2017

The IPO Of Godrej Agrovet Provides An Opportunity To Invest In A High Quality

The IPO of Godrej Agrovet provides an opportunity to invest in a high quality/growth company run by a trusted promoter group. 

The farm to fork company has stakes in promising segments which we believe are well-positioned to create value in the long term. Investors with a long term horizon should look at this multi-year compounding proposition of the business.

Incorporated in 1991, GAL has generated consistent returns and achieved high growth through both organic and inorganic routes and has become a prominent player across all its business verticals. 

The company has a pan India presence with major concentration in South and has a strong brand recall.

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Benchmark Indices Are Trading Higher Ahead Of Outcome From Reserve Bank of India's

Benchmark indices are trading higher ahead of outcome from Reserve Bank of India's policy meet later in the day.

The Sensex was up 139.33 points at 31636.71, and the Nifty was up 46.05 points at 9905.55. About 1428 shares have advanced, 747 shares declined, and 95 shares are unchanged.

Sun Pharma, Reliance Industries, Asian Paints, Dr Reddy’s Labs, ITC, Aurobindo Pharma, Indiabulls Housing and Power Grid Corp are the top gainers on the indices, while top losers include Bharti Airtel, ICICI Bank, Coal India, Tata Steel and TCS.

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Tuesday, 3 October 2017

HDFC Bank Recouped Early Losses To Trade Mildly Higher

HDFC Bank recouped early losses to trade mildly higher.

The 30-share BSE Sensex was up 231.34 points at 31,515.06 and the 50-share NSE Nifty gained 65.10 points at 9,853.70.

About 1,481 shares advanced against 662 declining shares on the BSE.

While retaining a buy call on ONGC with a target price of Rs 200 per share, Jefferies said gradual rise in oil prices would underpin buy rating.

Gas prices should rise 10-15 percent in a year, the research house feels.

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Dr Reddy's Laboratories Has Launched Sevelamer Carbonate Tablets In The US Market

Dr Reddy's Laboratories has launched Sevelamer Carbonate tablets in the US market.

"This is the company's eighth overall and fourth limited-competition launch this fiscal year," Alok Sonig, Executive Vice President and Head of North America Generics business said.

For the last 12 months ending in July 2017, the drug had US sales of approximately USD 1.88 billion, according to IMS Health.

Sevelamer is used to lower high blood phosphorus levels in patients.

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