Friday, 30 June 2017

The Reserve Bank Of India Has Removed Restrictions Placed

The Reserve bank of India has removed restrictions placed on purchase of shares in AU Small Finance Bank by foreign investors with the total foreign investment coming below the threshold caution limit.

The aggregate limit of total foreign investment that can be received by the company shall remain at 49 percent, the RBI said in a release. The restrictions placed on "the purchase of shares of the above company are withdrawn with immediate effect", the release said.

AU Small Finance Bank has hit the capital market with an IPO to raise around Rs 1,900 crore. Its share sale of 3,76,95,520 shares was oversubscribed 1.36 times on the second day of the offer on Thursday.

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Equity Benchmarks Remained Under Pressure In Morning Trade

Equity benchmarks remained under pressure in morning trade, with the Nifty struggling below 9500 level following correction in Asian peers.

The 30-share BSE Sensex was down 49.59 points at 30,807.93 and the 50-share NSE Nifty fell 16.95 points to 9,487.15.

Sun Pharma was the biggest gainer among Sensex stocks, up more than 3 percent.

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Thursday, 29 June 2017

The Nifty Has Taken A Knock Of About 200 Points From Its Record High Of 9,700

Market Live: Nifty opens above 9500, Sensex gains 150 pts; Axis Bank surges
The Nifty has taken a knock of about 200 points from its record high of 9,700 to about 9500 and many stocks have corrected more than 30 percent in the same period.

The Indian market moved in one direction after hitting a low of 7,900 back in December 2016 and since then we haven’t seen any serious correction. And, all the intermediate corrections that we see did not last for more than 200 points.

There are many investors which were waiting on sidelines to get into Indian equity market which has already given 17 percent return so far in the year 2017.

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The Indian Rupee Has Opened Higher By 9 Paise At 64.46 Per Dollar

The Indian rupee has opened higher by 9 paise at 64.46 per dollar against previous close of 64.55.

The dollar fell close to one-year lows against the euro and slipped against sterling as investors priced in tighter monetary policy in Europe.

This after Bank Of England Governor Mark Carney said that the central bank is likely to need to raise interest rates as the British economy comes closer to operating at full capacity. Also the release of disappointing US housing sector data continued to weigh on sentiment.

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Wednesday, 28 June 2017

Nifty Is Likely To Expire In 9500-9600 Range; 5 Stock Which Can Give Up To 14% Return

Trade Setup for Wednesday: Top 10 things you should know before Opening Bell
We have seen aggressive call writing in recent trading sessions as call writers were active in 9,600 and 9,550 strike calls indicating limited upside in the June expiry.

The highest open interest is placed at 9,700 call followed by 9,600 while we are witnessing maximum put open interest at 9,500 strike.

As per the current data, Nifty is likely to expire in the band of 9500-9600 in current series. Till now, most of the Nifty futures has been rolled with the average of 9550 July futures, if Nifty moves above this levels short covering can trigger going forward.

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Equity Benchmarks Extended Losses In Early Trade Wednesday

Equity benchmarks extended losses in early trade Wednesday, with the Nifty opening below 9500 on further correction in PSU banks, healthcare and FMCG stocks.

The 30-share BSE Sensex was down 19.27 points at 30,938.98 and the 50-share NSE Nifty fell 27.70 points to 9,483.70.

ITC, SBI, Bank of Baroda, L&T, Sun Pharma, Lupin and Dr Reddy's Labs were under pressure while Infosys, ICICI Bank and HDFC continued to support the market.

Nifty Midcap lost 0.5 percent as about two shares declined for every share rising.

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Tuesday, 27 June 2017

Primary Sales In The B2C Segments Will Be Sluggish In The Transition Period

Large companies have better prepared IT systems, which could translate into market share gains, he feels.

Primary sales in the B2C segments will be sluggish in the transition period, but he expects a pick-up from the festival season in Q3.

He said while the near-term impact on B2C categories will be negative, considering the productivity gains and possible market share gains, he remains optimistic on larger consumer-facing companies.

Key beneficiaries include HUL, Colgate, Havells, Asian Paints, Titan Industries, Bajaj Electricals, Crompton Greaves and V-Guard.

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The 30-Share BSE Sensex Was Down 41.90 Points At 31,096.31

The 30-share BSE Sensex was down 41.90 points at 31,096.31 and the 50-share NSE Nifty slipped 29.70 points to 9,545.25.

The broader markets underperformed benchmarks, with the BSE Midcap and Smallcap indices falling 0.8 percent each on weak breadth.

More than two shares declined for every share rising on the BSE.

ICICI Bank, Infosys, SBI, Axis Bank, Tata Motors and ONGC were down 1-2 percent whereas ITC, HDFC Bank, HDFC, Adani Ports and M&M outperformed, up 0.6-1.2 percent.

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Friday, 23 June 2017

Wockhardt Shares Gained As Much As 3 Percent In Morning Trade

Wockhardt shares gained as much as 3 percent in morning trade after its subsidiaries settled commercial litigation with Teva Pharmaceuticals.

"Wockhardt UK Holdings and CP Pharmaceuticals, in the United Kingdom have settled an ongoing commercial litigation before the High Court in London, UK in relation to supply contract for a drug named Trisenox," the healthcare firm said in its filing.

The dispute between parties was in respect of the price charged by CP to its counterparty to the contract, Cephalon Inc, an affiliate of Teva Pharmaceuticals USA Inc.

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Shares Of Mindtree Gained Nearly 3 Percent Intraday As It Is Going To Consider

Shares of Mindtree gained nearly 3 percent intraday as it is going to consider buyback of its equity shares.

A meeting of the board of directors of the company will be held on June 28, to consider the proposal to buyback the fully paid-up equity shares of the company.

The company's 18th annual general meeting will be held on July 18, 2017.

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Thursday, 22 June 2017

Stocks In The News: Dr Reddy's, Glenmark, Reliance Defence, Ramky Infra, Petronet LNG

-RBI removes restriction on foreign investment in IDFC

-Delhi HC clears decks for potential deal by Fortis Healthcare to bring in new shareholders

-Glenmark gets tentative US FDA nod for Solifenacin Succinate tablets (used for treatment of overactive bladders)

-Tata Motors to issue non-convertible debentures worth Rs 500 crore

-Medicamen Biotech issues 3.06 lakh warrants to promoters and non promoters at Rs 543 per share

-Ramky Infra to sell non-civic waste unit: ET

-Coal India allows arms to reduce reserve price at auctions: ET

-Reliance Defence and Thales, to form JV for Rafale deal

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Top 10 Fundamentally Strong Stocks To Buy On Dips Which Could Give Up To 22% Return

Top 10 fundamentally strong stocks to buy on dips which could give up to 22% return
The momentum which propelled the Nifty50 to reclaim Mount 31K, up 17 percent so far in the year 2017 could well slow down, but there will be plenty of stock specific action.

The index is languishing in a narrow range and most of the stocks have already corrected in double digits in the past 10 days. Hence, if there is a dip, analysts advise investors to pick up quality stocks which have a good fundamental story.

Most experts have a target of 32,000 – 33,000 on the S&P BSE Sensex which translates into an upside of about 5 percent. Investors will be better off staying with stocks which can outperform markets by a wide margin.

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Wednesday, 21 June 2017

Benchmark Indices Extended Their Losses From The Morning Session

Benchmark indices extended their losses from the morning session, with the Nifty threatening to breach 9600-mark.

The Sensex was down 79.61 points at 31217.92, while the Nifty was down 38.70 points at 9614.80. The market breadth as negative as 1,077 shares advanced against a decline of 1,084 shares, while 146 shares were unchanged.

ONGC and Cipla were the top losers on both indices, while Larsen & Toubro, Reliance and Bank of Baroda gained the most.

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The 30 Share BSE Sensex Was Down 57.71 Points At 31,239.82

The 30-share BSE Sensex was down 57.71 points at 31,239.82 and the 50-share NSE Nifty fell 30.15 points to 9,623.35.

L&T gained over a percent after sources told CNBC-TV18 that the government sold its stake in the company for Rs 4,000 crore.

Reliance Industries continued to support the market, up 0.64 percent while HDFC, Tata Motors, ONGC, Lupin, TCS, HDFC Bank and ICICI Bank were under pressure.

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Monday, 19 June 2017

Two IPOs To Hit Market This Week, Eye Rs 1,000 Cr

Two IPOs to hit market this week, eye Rs 1,000 cr

Aiming to tap the upbeat investor sentiment, two companies - CDSL and GTPL Hathway - will launch initial public offers this week to raise over Rs 1,000 crore.

The bidding in BSE-promoted CDSL's IPO will begin on June 19 and close on June 21, while that of GTPL Hathway, part of Hathway Cable and Datacom Ltd, will be open for public subscription from June 21-23.

The IPO of Central Depository Services Ltd's involves its shareholders, including BSE, offloading over 3.5 crore shares through the offer-for-sale route. It has fixed a price band of Rs 145-149.

At the higher end of the price band, the shares are estimated to fetch around Rs 524 crore.

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Oil India Remained Under Pressure Amidst Excess Liquidity

Buy Bharat Forge, Colgate, Federal Bank; sell Sun Pharma: Ashwani Gujral
Oil India remained under pressure amidst excess liquidity and profit-booking as stock has retraced 50 percent of prior up-move. In the last week, its long-term moving average 100-week SMA has saved the stock from extending losses and also supported a positive close.

Due to prior decline, key technical indicators-Stochastic and RSI slipped into their oversold zone, hence a rebound cannot be ruled out in the stock before it resumes the downtrend.

On the higher side, the stock will face some resistance around its moving averages, but a major hurdle observed at around Rs 330 and then at Rs 340, which is coinciding with 23.6 percent Fibonacci Retracement level of previous up-move and prior highs respectively.

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Friday, 16 June 2017

Bluechip Bets! Top 10 Stocks In Which Fund Managers Raised Their Stake In May

The total category wise asset under management of the mutual fund industry slipped by 1.2 percent or Rs 22,327 crore to Rs 19.03 lakh crore for the month of May 2017, but equity funds saw an increase of 2.7 percent in the same period.

Of the top 10 stocks in terms of value increase on a month-on-month basis, four were from Financials namely ICICI Bank, HDFC Bank, Kotak Mahindra Bank, and HDFC.

Apart from rate sensitive stocks, companies which hogged the limelight in the month of May include names like ITC, Infosys, Tata Steel, Maruti Suzuki, L&T and Vedanta.

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A Slip Below 9,560 Could Bring Bears Back

Nifty corrective declines are known to retrace 38.2% of the previous up-move. On an immediate basis, Thursday’s low of 9,561 is a point of reference, as it coincides with the support of its 21-EMA.

This moving average has been a savior since January 2017. Moreover, support of 5-week EMA is placed near Thursday’s low. The third line of defense as per gann rule of 8 also highlights the criticality of 9,560.

Any fall below 9,560 would cause a downside shift continuation in the orbit. Meanwhile, BankNifty continues to trade above three-digit gann number of 233.

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Thursday, 15 June 2017

Indian Rupee Opens Higher At 64.27 Per Dollar

US dollar ends cheaper against rupee
The Indian rupee opened marginally higher at 64.27 per dollar on Thursday versus previous close 64.30.

Mohan Shenoi of Kotak Mahindra Bank said, "As expected, US FOMC hiked the rate by 25 bps hinting one more rate hike in 2017. As the event was already priced-in, global currency market reaction was muted. Rupee has benefitted from global flows."

"However, Reserve Bank of India intervention is preventing sharp gains. USD-INR expected to trade in a range of 64-64.35/dollar today."

"Lower than expected India CPI and WPI have triggered market expectations of monetary easing making local bond market bullish.

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Aurobindo Pharma Was Top Gainer Among Nifty Stocks, Up 3.5 Percent

The 30-share BSE Sensex was up 18.30 points at 31,174.21 and the 50-share NSE Nifty fell 12.25 points to 9,605.90.

The BSE Midcap index was up 0.2 percent and Smallcap gained 0.5 percent on positive market breadth. About 1,148 shares advanced against 713 declining shares on the BSE.

Aurobindo Pharma was top gainer among Nifty stocks, up 3.5 percent followed by NTPC, Adani Ports, Bharti Airtel, Dr Reddy's Labs and Sun Pharma whereas GAIL, Coal India, Asian Paints, TCS, L&T, Bank of Baroda and BPCL were under pressure.

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Wednesday, 14 June 2017

The Indian Rupee Opened Flat At 64.34 Per Dollar Today

The Indian rupee opened flat at 64.34 per dollar today against previous close 64.33 a dollar.

Pramit Brahmbhatt of Veracity feels the rupee will appreciate and may test 64.20/dollar. Trading range for the spot USD-INR pair for the day will be 64.20-64.50/dollar, he said.

Equities in Asia were mixed as oil prices fell after a surprise build in US stocks and as markets awaited the release of economic data from China. Japan's Nikkei 225 was up 0.1 percent and South Korea's benchmark Kospi index slipped 0.18 percent.

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Sensex, Nifty Open Flat Ahead Of Fed Meet Outcome; Dr Reddy's Up 2%

Equity benchmarks started off Wednesday's trade on a flat note as investors await the outcome of two-day Federal Reserve policy meeting due tonight.

The 30-share BSE Sensex was up 28.79 points at 31,132.28 and the 50-share NSE Nifty rose 2.85 points to 9,609.75. About 596 shares advanced against 364 declining shares on the BSE.

Reliance Industries, ICICI Bank, TCS, Infosys, Lupin and Dr Reddy's Labs were early gainers while Asian Paints, HDFC, ITC, HDFC Bank and Tata Steel were losers.

Stressed assets stocks like Videocon, Bhushan Steel and Electrosteel Steels fell more than 5 percent while Hexaware declined 4 percent on a media report that revenue from EY declined.

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Tuesday, 13 June 2017

Nifty To See Selling Pressure Below 9585; 5 Stocks Which Can Give Up To 18% Return

Nifty to see selling pressure below 9585; 5 stocks which can give up to 18% return
The market witnessed a gap down opening on the very first session of the week and remained under selling pressure throughout the entire session.

Although market witnessed profit taking at higher levels. The only thing that is supporting the market right now is that it is trading well above 20-DMA.

The Nifty is still trading in a sideways broader range where 9,585 seems to be an immediate support for Nifty, only a close below could bring some more selling pressure in the market until then traders should expect a sideways movement to remain intact for a while.

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Buy, Sell, Hold: 4 Stocks And 2 Sectors Are On The Radar Of Investors Today

The global financial services firm said that Torrent Power’s tender confirms about LNG demand in India if spot prices are subdued. This was based on its tender seeking supply of 36 LNG cargoes from January next year. It expects Torrent Power to import 0.5 mmtpa LNG In FY18 & 1 mmtpa From FY19.

In the broader sense, driven by rising global supply, it expects spot LNG price to remain under USD 6/mmbtu. A recovery in industrial activity should drive the company’s volume CAGR of 10 percent over FY17-19e and it expects LNG Demand from city gas distribution, refining, power sector to drive volume growth.

The research firm said that the bank’s capital raising exercise should help it to raise tier-1 by 70 basis points to 11 percent. Further, the capital raise should allow banks to absorb any NPLs from associate, it added. The bank’s net profit estimates were raised by 2-3 percent by BofA-ML. It expects uptick in growth and synergies in merger from FY18.

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Monday, 12 June 2017

Shares Of Amtek Auto Slipped Over 2 Percent In The Early Trade

Shares of Amtek Auto slipped over 2 percent in the early trade as it has reported loss in the quarter ended March 2017.

The company has posted a net loss of Rs 307.57 crore in March quarter against loss of Rs 563 crore in the same quarter last fiscal.

The company had registered a loss of Rs 241.56 crore in the quarter ended December 2016.

Revenue of the company was down 32 percent at Rs 442 crore versus Rs 648 crore, while the finance cost stood at Rs 333 crore.

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Top 20 Multibagger Stocks Which Rose Over Up To 700% And Doubled PAT In 1 Year

The S&P BSE Sensex rose 17 percent while the S&P BSE Smallcap Index rallied by about 30 percent in the same period.

Smallcap stocks which are always labelled as ‘high risk’ but give big returns when compared with largecaps. Choosing the right stocks matters when it comes to small companies and it they have earnings visibility then the rally is most likely to sustain.

We collated a list of companies which are trading at a high price to earnings ratio, which in some case is 10x its book value, has more than doubled its net profit in last one year and have given returns up to 710 percent in the same period.

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Friday, 9 June 2017

The Indian Rupee Has Seen Some Correction In Early Trade

The Indian rupee has seen some correction in early trade. It has opened at 64.27 against the US dollar, down 6 paise compared with previous day's closing of 64.21 a dollar.

Ashutosh Raina of HDFC Bank said the USD-INR currency pair has been consolidating in a range of 64.20-64.50 against the US dollar.

The rupee should continue to trade in this range with support expected at lower levels, he feels.

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Market Live: Nifty Opens Below 9650, Sensex Lower; RIL Up 1%

Citi raised target price of Godrej Consumer Products to Rs 1,955 following increase in target multiple and 2 percent increase in EPS estimates.

"Our implied target multiple works out to 37x FY19– brought closer to peers reflecting Godrej Consumer's improving outlook and possibly return profile," the brokerage house said.

Like peers, FY18 could be a better year for GCPL despite GST transition in India, it feels. It estimated double-digit constant currency growth for the company.

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Thursday, 8 June 2017

Nifty Likely To Move In A Range Of 9750-9450; 4 Stocks Which Can Give Up To 14% Return

The Nifty is witnessing hesitation amid profit booking after approaching close to the upper band of the narrow rising channel which encompasses the entire up move since February 2017, placed around 9,750 regions.

The sentiment has also turned cautious amid rising geopolitical tensions in the middle-east and ahead of UK elections and ECB meeting scheduled for the current week.

We expect the index to enter into consolidation phase and oscillate between the range of 9,750 and 9,450 levels while the market will turn stock specific from here on.

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TCS Fell 2.4 Percent As Nomura Downgraded The Stock To Reduce From Neutral

TCS fell 2.4 percent as Nomura downgraded the stock to reduce from neutral, with implied downside of 18 percent, citing mismatch between fundamentals and recent stock price rise.

Infosys extended losses, down 1 percent on top of 3 percent correction in previous session on pricing concerns.

ITC, Reliance Industries, ICICI Bank, SBI and ONGC were other losers whereas HDFC, HDFC Bank, Tata Steel, HUL, Tata Motors and L&T continued to support the market.

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Wednesday, 7 June 2017

Majority Of Experts Expect The RBI To Maintain Status Quo

The 30-share BSE Sensex was up 109.21 points at 31,299.77 and the 50-share NSE Nifty rose 27 points to 9664.15.

Majority of experts expect the RBI to maintain status quo. RBI's commentary would be closely watched.

According to LKP, the central bank is likely to hold key rates even as the government is making a case for a lower interest regime citing low inflation.

The broader markets outperformed benchmarks, with the BSE Midcap and Smallcap indices rising over half a percent. About two shares advanced for every share falling on the BSE.

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Stocks Close Lower As Wall Street Braces For Key Events Later This Week

US equities closed lower on Tuesday as Wall Street hedged bets ahead of key events slated for later this week.

The Dow Jones industrial average fell about 45 points, with Boeing contributing the most losses. The S&P 500 closed 0.28 percent lower, with consumer discretionary leading decliners. The Nasdaq composite lagged, slipping 0.33 percent.

The three indexes briefly a small bid in afternoon trade after ABC News reported, citing a source, that former FBI director James Comey will stop short of saying President Donald Trump obstructed justice in the bureau's investigation of ex-national security advisor Michael Flynn's Russian ties, but failed to follow through.

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Tuesday, 6 June 2017

The Indian Rupee Gained Further In Early Trade

The Indian rupee gained further in early trade. It opened at 64.32 against the US dollar, up 4 paise compared with previous close of 64.36 a dollar.

Bhaskar Panda of HDFC Bank said the rupee has showed strength and is trading near the 64.30 a dollar pivot which is expected to hold.

He expects USD-INR pair to trade within a range of 64.30-64.50 a dollar for the day.

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Shares Of State Bank of India Were Higher By Around 2 Percent

Shares of State Bank of India were higher by around 2 percent intraday on Tuesday as investors cheered the lender’s plan to raise funds.

The country's largest lender on Monday opened share sale through a private placement at Rs 287.58 a piece to raise Rs 11,000 crore.

This is part of plans to garner Rs 15,000 crore capital from markets in the current fiscal.

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Monday, 5 June 2017

Nifty Gave Positive Returns In 6 Out Of Last 10 Years In June

It looks like bulls will remain in control of D-Street for June 2017 even though chances further consolidation cannot be ruled out after strong rally seen in the last two months.

In the last 6 out of 10 years, bulls managed to get an upper hand on D-Street. The Nifty rose 9 percent in the year 2012, followed by nearly 7 percent rise in 2010, and a little over 3 percent gain in the year 2014. The index rose nearly 1 percent in 2007, 2011 and 2016.

However, on the down, Nifty suffered its worst loss in the year 2008 when it crashed nearly 15 percent, followed by 5 percent drop in the year 2009, 1.6 percent fall in the year 2013, and nearly 1 percent fall in 2015.

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Banking Revival And Private Sector Investment Top Jaitley’s Priority List

Single GST rate would have been disastrous; bank, investment revival the ‘bulls eye’ now: FM
Even as the government scurries to tackle the problem of bad loans, Finance Minister Arun Jaitley stressed that reviving banking sector and investment in private sector top his priority list. The Reserve Bank of India and banks are working on a list of defaulters and will put out the list soon, he said.

“My next big target is banks and private sector investment… that is the bull’s eye,” Jaitley told CNBC-TV18 in an exclusive interview. The list of companies to be selected in the first instance for invoking insolvency code is almost ready, he added. “RBI should put out the details soon.”

Last month, the RBI had said it would reconstitute and expand the oversight committee to deal with the menace of non-performing assets. The central bank also outlined a plan of action for implementing banking ordinances to deal with the issue.

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Friday, 2 June 2017

Stocks In The News: HDFC, Hero, Bharti, Cipla, TVS Motor, Bayer Crop, SREI, Grasim

Bharti Airtel
-Gets SEBI & stock exchanges approval for merger with Telenor India
-Filed application with National Company Law Tribunal for nod to scheme of merger

Hero MotoCorp says
-Commencement of commercial production at Bangladesh plant
-Sells 633,884 units in May 2017, up 8.7 percent YoY

May auto sales: Tata Motors
-Total JLR US sales up 13.9 percent at 8,106 units versus 7,114 units
-Total Jaguar US Sales up 43.9 percent at 3,113 units versus 2,164 units
-Total Land Rover US sales up 0.9 percent at 4,993 units versus 4,950 units

TVS Motor
-Total sales up 16 percent at 2.82 lakh units versus 2.44 lakh units
-2-Wheeler sales up 15.6 percent at 2.75 lakh units versus 2.38 lakh units
-3-Wheeler sales up 20.5 percent at 6,581 units versus 5,463 units
-Total exports up 14.3 percent at 40,617 units versus 35,545 units
-2-wheeler exports up 11 percent at 34,899 units versus 31,434 units
-Motorcycle sales up 22.3 percent at 1.18 lakh units versus 96,485 units

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After Paying Off Debt, These Companies Saw Stock Prices Rise Up To 600% In A Year

Debt is an important aspect of a balance sheet especially for capital intensive companies but too much of debt without adequate cash flow will start to hurt margins.

A lot of companies with excessive debt on the books are struggling to keep up with repayments. A scenario which was brought to light by the Reserve Bank of India last week when the central bank released a list of top 50 stressed accounts which need immediate attention.

However, companies which have been instrumental in bringing down their debt exposure got rewarded handsomely by the market. Almost 100 companies which have reduced their debt more than doubled investors’ wealth in the last one year, Capitaline data showed.

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Thursday, 1 June 2017

Infosys Was The Top Loser, Down 1.4 Percent Followed By HDFC Bank

The 30-share BSE Sensex was down 69.90 points at 31,075.90 and the 50-share NSE Nifty fell 17.70 points to 9,603.55.

Infosys was the top loser, down 1.4 percent followed by HDFC Bank, HDFC, ICICI Bank, Asian Paints, ONGC and Reliance Industries.

Sun Pharma rebounded over a percent followed by ITC, M&M, Tata Motors, Hero Motocorp and L&T.

The Indian rupee opened at 64.48 to the dollar, up 3 basis points from its previous close of 64.51.

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Nifty Holds 9600 Amid Choppy Trade; Investors Await Auto Sales Data

Equity benchmarks continued to be volatile in morning trade as investors awaited May auto sales data due today.

The 30-share BSE Sensex was up 23.73 points at 31,169.53 and the 50-share NSE Nifty gained 5.40 points at 9,626.65.

The broader markets continued to outperform benchmarks for third consecutive session, with the BSE Midcap and Smallcap indices rising 0.5 percent and 0.8 percent, respectively. About two shares advanced for every share falling on the exchange.

Mahindra & Mahindra, Hero Motocorp and Bajaj Auto gained a percent each ahead of auto sales data. Tata Motors, Maruti Suzuki and Escorts were flat with a positive bias.

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