Friday, 22 September 2017

Reliance Home Finance Locked At 5% Upper Circuit

The stock traded with volumes of 6.24 lakh shares on the National Stock Exchange.

The company was hived off from the umbrella of Reliance Capital with September 6 as record date. As part of the process, investors must have received one share of Reliance Home Finance for every share of Reliance Capital held.

The move is expected to unlock value for the existing shareholders of the firm, Reliance Capital said in a statement.

After the demerger, Reliance Capital will continue to hold a 51 percent stake in Reliance Home Finance.

The transfer was earlier approved by an overwhelming majority of 99.59 per cent votes in favour of the scheme of arrangement at the Tribunal-convened general shareholders meeting held in July.

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The Reliance Home Finance Scrip Made A Stellar Debut In Trade Today

The Reliance Home Finance scrip made a stellar debut in trade today.

"The company is looking to grow is loan book at 50 percent CAGR over the next three-to-four years," Ravindra Sudhalkar, CEO, Reliance Home Finance said in an interview to CNBC-TV18.

He further said it is looking to maintain its net interest margin at 3.5 percent and grow its housing finance business to 60 percent by FY20.

The housing finance company is targeting return of assets of 1.5 percent by FY20, he added.

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Thursday, 21 September 2017

Equity Benchmarks Slipped Into Red In Morning Trade As The Sensex

Equity benchmarks slipped into red in morning trade as the Sensex fell 173.37 points to 32,227.14 and the Nifty dropped 58.50 points to 10,082.65.

The market breadth was weak as about two shares declined for every share rising on the BSE.

The drug firm informed exchanges that it has received an establishment inspection report from the US FDA, for Formulation Srikakulam Plant Unit II, Andhra Pradesh.

The audit of this facility by the US Food and Drug Administration had completed with zero observations on May 25.

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Stocks In The News: RIL, SBI, ITC, Rel Cap, SMS Pharma, Om Metal

CSL Finance
-Aadi Financials Advisors have been allotted 3.8 lakh shares via preferential allotment
-Akash Bhansali is one of the directors

NBCC
-Gets letter of intent for Rs 3,200 crore project in Mumbai from Finance Ministry
-To develop a residential-cum-office complex in Mumbai

Granules
-To raise up to USD 39 million with upside option up to USD 54.5 million via QIP
-Granules sets floor price at Rs 121.25 per share

Reliance Industries: Reuters
-Reliance plans to expand capacity at Jamnagar oil refiner complex by 40 percent
-Reliance Industries plans to expand Jamnagar capacity to 2 mbpd by 2030

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Wednesday, 20 September 2017

Nifty Midcap Was Up 0.4 Percent, Outperforming Benchmarks

Tata Motors, ICICI Bank, BPCL, Cipla, Coal India, Ambuja Cements, NTPC and Wipro were also under pressure in early trade.

Reliance Industries rallied 4 percent, followed by L&T, ONGC, HDFC Bank, ITC, Tata Power and Yes Bank.

Nifty Midcap was up 0.4 percent, outperforming benchmarks.

JK Tyre, Apollo Tyres, Ceat, Divis Labs, Kamat Hotels, Adani Transmission, Bombay Dyeing, HEG, Graphite India, Goa Carbon, Rain Industries, Shreyas Shipping and Cadila Healthcare gained up to 10 pecent.

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Equity Benchmarks Opened Mildly Higher On Wednesday

Equity benchmarks opened mildly higher on Wednesday, led by support from index heavyweight Reliance Industries.

The 30-share BSE Sensex was up 63.74 points at 32,466.11 and the 50-share NSE Nifty gained 11.90 points at 10,159.45.

Telecom stocks - Bharti Airtel, Idea Cellular and Reliance Communications fell 3-6 percent after telecom regulator TRAI slashed mobile call connection charge to 6 paise per minute from 14 paise currently, effective October 1.

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Friday, 15 September 2017

Ujaas Energy Rises 10% On Orders Win From Oil India

Share price of Ujaas Energy advanced 10 percent intraday Friday on the back orders win.

The company has received letter of award of contract from WBREDA for installation and commissioning of 150 rooftop grid connected solar PV power plants each in array capacity of 10Kwp at various locations of West Bengal.

The company also received letter of award from Oil India for EPC contract for solar energy generation project of 500 KW at pump station of Oil India at Jorhat in the state of Assam.

It has received letter of allocation from SECI for an aggregate capacity of 20.03 MW for implementation of grid connected rooftop solar PV system scheme for government building in different states/union territory of India.

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Equity Benchmarks As Well As Broader Markets Continued To Fall In Morning

Equity benchmarks as well as broader markets continued to fall in morning as fresh missile launch by North Korea weighed.

The 30-share BSE Sensex was down 45.66 points at 32196.27 and the 50-share NSE Nifty fell 24 points to 10,062.60.

The BSE Midcap and Smallcap indices underperformed benchmarks, falling over half a percent on weak breadth. About two shares declined for every share rising on the BSE.

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Thursday, 14 September 2017

Bharti Airtel Rebounded With 0.6 Percent Gains Today

Bharti Airtel rebounded with 0.6 percent gains today after falling a percent in previous session.

On Wednesday, the telecom operator announced strategic partnership with South Korean telecom operator SK Telecom, known for using latest technologies, to build the most advanced telecom network in India.

The two companies will also collaborate on an on-going basis to evolve standards for 5G and advanced technologies like network functions virtualisation, software-defined networking and Internet of Things, Bharti Airtel said in a statement.

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Equity Benchmarks Opened Higher Amid Consolidation Thursday

Equity benchmarks opened higher amid consolidation Thursday, with the Nifty reclaiming 10,100 level despite weakness in Asian peers.

The 30-share BSE Sensex was up 81.95 points at 32,268.36 and the 50-share NSE Nifty gained 23.70 points at 10,103.

Sun Pharma rallied nearly 4 percent, followed by Dr Reddy's Labs, Lupin, Reliance Industries, Tata Motors, GAIL and Aurobindo Pharm.

Wipro plunged 3.5 percent. Kotak Mahindra Bank, HDFC Bank, HDFC, TCS, HUL, Tech Mahindra and Power Grid were also under pressure.

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Wednesday, 13 September 2017

The Indian Rupee Opened Higher By 6 Paise At 63.98 Per Dollar On Wednesday

The Indian rupee opened higher by 6 paise at 63.98 per dollar on Wednesday against the level of 64.04 on Tuesday.

Pramit Brahmbhatt of Veracity said, "Easing of North Korea problem helped dollar find support at 63.80 mark. As far as it trades above 63.80, bias will remain positive towards dollar." "Trading range for the spot USD-INR pair will be 63.80-64.20," he added.

The dollar extended its sharp rally against the yen, although it was capped against the euro with a potentially supportive spike in US yields neutralized by a similar move by their German counterparts.

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Nifty On Course To Hit 10,500 In Couple Of Months, If It Holds Above 10K

Like most global equity markets, Indian markets too have had a great run over, hitting new highs or testing previous highs on the expectation of smart global recovery as well as unprecedented inflows into equity mutual funds.

While everyone agrees India is a great story for the medium to long term and the view has not changed in the medium term regarding growth or political stability, but the disappointment in earnings and a possible disappointment in gross domestic product makes a lot of people nervous.

Higher investment flows both from domestic and foreign investors should provide downside support to the markets.

Valuations too are at peak levels. Our discussions with investors these days are more towards worries about rich valuations, although in many discussions recently, the valuation debate has been ignored altogether.

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Tuesday, 12 September 2017

The IPO, With An Aim To Raise Over Rs 500 Crore

The initial public offer of Matrimony.com, which runs online match-making portals, was subscribed 67 percent on the first day of bidding on Monday.

The IPO, with an aim to raise over Rs 500 crore, received bids for 18,78,510 shares against the total issue size of 28,11,280 shares, data available with the NSE showed.

The portion set aside for qualified institutional buyers was subscribed 83 per cent and retail investors 1.19 times.

The company had on Friday raised nearly Rs 226 crore from anchor investors.

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The RBI Is Thus Forced To Continue Absorbing Liquidity

The RBI is thus forced to continue absorbing liquidity, he said.

He feels cost of capital should hence remain low, manifested in low interest rates and high P/E for equities.

Mishra said non-banking finance companies growth should continue, net interest margin though may compress. LIC Housing Finance and Indiabulls Housing Finance should benefit, he added.

Bharti Infratel, Coal India and ONGC were under pressure on profit booking.

Tata Coffee and Liberty Shoes rallied 12-16 percent post bulk deals.

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Monday, 11 September 2017

Equity Benchmarks Continued To Trade Strong In Morning

Equity benchmarks continued to trade strong in morning, tracking positive Asian cues.

The 30-share BSE Sensex was up 177.41 points at 31,864.93 and the 50-share NSE Nifty rose 52.60 points to 9,987.40.

The broader markets outperformed benchmarks as the BSE Midcap and Smallcap indices gained 0.7 percent each on strong breadth. About two shares advanced for every share falling on the BSE.

Larsen & Toubro was biggest gainer again, up 3 percent on top of 4 percent upside in previous session.

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Global Cues Lift Sensex Over 150 Pts, Midcap Outperforms; L&T Rallies

Shares of IndusInd Bank and Bharat Financial Inclusion rose 1-2 percent in early trade as investors reacted to developments around a possible deal between the two entities.

Early on Monday, the private sector lender informed exchanges that it had entered into an ‘exclusivity agreement’ with the micro lender in a bid to explore a merger or expansion plans.

The transaction between the two companies would be subject to due diligence, agreement on the appropriate on the appropriate transaction structure, definitive documentation and Board, shareholders, regulatory, NCLT and other third-party approvals, as applicable, the release said.

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Friday, 8 September 2017

The Broader Markets Continued Northward Journey As The BSE Midcap

The 30-share BSE Sensex was up 61.60 points at 31,724.34 and the 50-share NSE Nifty rose 24.05 points to 9,953.95.

The broader markets continued northward journey as the BSE Midcap and Smallcap indices gained around 0.5 percent on positive breadth.

About two shares advanced for every share falling on the BSE.

Metals stocks extended rally as the Nifty Metal was up 1.4 percent. Hindalco Industries, Vedanta and Tata Steel gained 1.6 percent each.

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The Indian Rupee Appreciated Sharply In Morning Trade On Dollar Weakness.

The Indian rupee appreciated sharply in morning trade on dollar weakness.

It was trading at 63.87 against the US dollar, up 17 paise from Thursday's closing of 64.05.

Bhaskar Panda of HDFC Bank said the dollar weakness continued due to various risks..

ICICI Lombard General Insurance Company set Rs 651-661 as the price band for its initial public offering, which will make it a Rs 5,700-crore issue.

"The price band has been set at Rs 651-661. At the upper end of the band, it will raise Rs 5,700 crore," a source said late in the evening.

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Thursday, 7 September 2017

The Indian Rupee Traded Higher By 6 Paise At 64.04 Per Dollar Versus Previous

The Indian rupee traded higher by 6 paise at 64.04 per dollar versus previous close of 64.10.

Mohan Shenoi of Kotak Mahindra Bank said the rupee has been trading in a very tight range for the past few weeks which is likely to continue.

USD-INR trading range for the day is 63.90-64.20, according to him.

The dollar lost some ground after edging up against the Japanese yen after getting a boost from trump's surprise deal with the democrats on extending the debt limit.

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Indiabulls Housing Finance Surged 2.5 Percent Again As CLSA Raised Target Price

Indiabulls Housing Finance surged 2.5 percent again as CLSA raised target price

Eicher Motors, Aurobindo Pharma, Asian Paints, Adani Ports and Dr Reddy's Labs gained 1 percent each.

Bharat Forge gained 3.4 percent as total class 8 truck orders in the North America rose 50 percent YoY.

Fortis Healthcare, Motherson Sumi, Shriram Transport, NBCC, Muthoot Finance, India Cements, GMR Infrastructure, CESC, HPCL, IOC and Petronet LNG gained up to 5 percent.

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Wednesday, 6 September 2017

Global Uncertainty To Keep Markets Choppy; 4 Stocks Which Can Give Up To 12% Return

Last week Nifty consolidated in a broad range of 200 points. Due to consolidation, daily chart formed a Symmetrical triangle pattern and index confirmed its breakout from said Triangle pattern in Friday’s session.

However, due to geopolitical tension, Nifty nosedived sharply on Monday and entered inside the triangle pattern. The said development has diminished the bullish sentiment.

Going forward, Nifty has an immediate support near 9,850 below which strong support comes near 9,780. Any sustained move below 9,780 will certainly allow bears to take charge of the index and we may see index to retest the daily swing low of 9,685.

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Market Focus Was Also Being Drawn To Hurricane Irma, A Record Category 5 Storm

Oil prices dipped as crude demand remained subdued on the back of refinery closures following Hurricane Harvey which hit the US Gulf coast 10 days ago.

Market focus was also being drawn to Hurricane Irma, a record Category 5 storm, which is barrelling towards important shipping lanes in the Caribbean.

Although many refineries and pipelines which were knocked out by Harvey are now in the process of restarting, analysts say it will take some time before the US petroleum industry is back to full crude processing capacity.

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Tuesday, 5 September 2017

The Rupee Dropped By 9 Paise To 64.14 Against The Dollar

The rupee dropped by 9 paise to 64.14 against the dollar at the interbank forex market today amid sustained foreign fund outflows.

The rupee opened at 64.10 per dollar against last close of 64.05 per dollar. It moved in a range of 64.08 per dollar and 64.18 per dollar in morning deals.

Traders said fresh demand for the US currency from importers and dollar's recovery against some currencies overseas weighed on the rupee.

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Equity Benchmarks Rebounded With Moderate Gains Amid Volatility

Equity benchmarks rebounded with moderate gains amid volatility on Tuesday as investors remained cautious due to geopolitical tensions surrounding around North Korea.

The 30-share BSE Sensex was up 73.36 points at 31,775.61 and the 50-share NSE Nifty gained 20.65 points at 9,933.50.

Tech Mahindra, Tata Motors and HDFC Bank were early gainers while TCS, HCL Technologies, Bharti Airtel, ITC and HDFC were under pressure.

Nifty Midcap gained half a percent as about five shares advanced for every share falling on the NSE.

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Monday, 4 September 2017

Nifty Likely To Head Towards 10,100; 4 Stocks Which Can Give Up To 10% Return

The Nifty50 continued to trade sideways on the backdrop of geopolitical issue coupled with F&O expiry last week. The Nifty saw a major setback in Tuesday’s trade, where index shredded about 100 points following a major drop in volume.

However, it decisively rebounded back from its negative trajectory towards the weekend trading session, where Nifty closed above its psychological barrier seen at 9,950 level.

The major breakthrough for bullish sentiment prevailed as the index managed to trade above its 20-Days EMA on closing basis, indicating a bullish trend going forward.

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Sensex Falls Over 100 Pts, Nifty Breaks 9950; Coal India Gains 3%

Industrialist Naveen Jindal and others were today granted bail by a special court in a case related to the allocation of a coal block in Madhya Pradesh.

Special Judge Bharat Parashar granted the relief to them on a personal bond of Rs one lakh each and one surety of like amount.

The court has now posted the matter for further hearing on October 31.

Besides Jindal, others who got the relief include Jindal Steel and Power Ltd's former Director Sushil Maroo, former Deputy MD Anand Goyal and CEO Vikrant Gujral.

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Friday, 1 September 2017

Stocks In The News: Bharti, Strides, IRB Infra, Welspun Ent, Genus Power, Rane Holdings

-Aditya Birla Capital listing today

-Indian Overseas Bank says capital infusion of Rs 1,100 crore by GOI

-Shankara Building Products starts new processing facility and relocates one of its existing facility

-CCL Products gets approval for setting up of freeze dried instant coffee manufacturing unit at Chittoor District, Andhra Pradesh

-IRB Infrastructure board has approved the proposed sale of IRB Pathankot Amritsar Toll Road to the IRB InvIT Fund, at an enterprise value of Rs 1,569 crore

-Bharat Financial completes a securitisation transaction of Rs 243.77 crore

-Hatsun Agro obtains shareholder approval to raise funds upto Rs 500 crore via QIP

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Aditya Birla Capital Shares Locked At 5% Lower Circuit At Open

Aditya Birla Capital shares were locked at 5 percent lower circuit in opening trade Friday. The stock has opened at Rs 237.50 on the National Stock Exchange, compared with pre-opening price of Rs 250.

The stock traded with volumes of 36.55 lakh shares on the NSE, at 10:14 hours IST.

Aditya Birla Capital is the demerged company from Grasim which holds controlling stake in financial services businesses of the group. The demerger and listing of financial services business under one umbrella was part of the group restructuring exercise and was aimed at unlocking value for shareholders.

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Thursday, 31 August 2017

The Indian Rupee Fell By 2 Paise To 64.04 Against The US Dollar

The Indian rupee fell by 2 paise to 64.04 against the US dollar in morning today on month-end demand for the American currency from importers and banks.

Sustained foreign fund outflows and a strong dollar in global markets weighed on the rupee, currency, traders said, adding domestic stock markets opening lower also weakened the sentiment locally.

The US dollar advanced against the euro and yen after strong US growth data fuelled speculations that the Federal Reserve could consider hiking interest rate for a third time this year.

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The Market Continued To Trade Mildly Lower Amid Volatility Ahead Of Expiry

The market continued to trade mildly lower amid volatility ahead of expiry of August derivative contracts. Investors also looked for Q2 GDP data due later today.

The 30-share BSE Sensex was down 52.44 points at 31,594.02 and the 50-share NSE Nifty fell 8.55 points to 9,875.85.

However, the broader markets outperformed benchmarks as the BSE Midcap index was up 0.2 percent and Smallcap gained 0.4 percent on positive breadth.

About three shares advanced for every two shares declining on the BSE.

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Wednesday, 30 August 2017

The Rupee Today Traded Higher By 8 Paise At 63.93 Against The US Currency

The rupee today traded higher by 8 paise at 63.93 against the US currency in morning on increased selling of the dollar by exporters and banks.

Currency traders said weakness in the dollar against major world currencies overseas supported the rupee. The rally in equity market also supported the rupee.

The 30-share BSE Sensex was up 233.45 points or 0.74 percent at 31,621.84, and the 50-share NSE Nifty gained 84.45 points or 0.86 percent at 9,880.50.

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India Fundamentals Strong, Buy On Dips; Like L&T, ICICI Bank, SBI

The market corrected recently from its record high but the actual correction is only around 3 percent compared to the rally of more than 22 percent since the beginning of the calendar year 2017.

"The market is still at elevated valuations but fundamentals are not deteriorating. India is in a solid space backed by strong political stability," Sandeep Bhatia, Head of Equity, India at Macquarie Securities Group said in an interview to CNBC-TV18.

Hence, he would recommend buying into dips despite geopolitical tensions. He believes the trend is still up on broader perspective due to strong macro but he is not upgrading earnings forecast.

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Tuesday, 29 August 2017

Sensex Slips Over 200 Pts, Nifty Below 9850 On North Korea Tensions

Infosys founders are likely to sell some of their stake in the company's Rs 13,000-crore share buyback programme, the company said today.

The promoters' keenness to participate in the buyback comes within days of a silent coup by founders led by N R Narayana Murthy to seize control of India's second-biggest software services firm.

The founders and their families between them hold some 12.75 percent of Infosys. Murthy declined to comment on if he would participate in the buyback.

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Equity Benchmarks Extended Losses In Morning As The Sensex Was Down 227.05 Points

Equity benchmarks extended losses in morning as the Sensex was down 227.05 points or 0.72 percent at 31,523.77, dragged by index heavyweights HDFC, HDFC Bank, Reliance Industries and Infosys.

The Nifty broke 9,850 level, down 68.95 points or 0.70 percent to 9,843.85.

The broader markets outperformed benchmarks, though they were also under pressure. The BSE Midcap index was down 0.3 percent and Smallcap declined 0.5 percent as about 1,171 shares declined against 705 advancing shares on the BSE.

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Monday, 28 August 2017

Infosys Soars Over 4% As Analysts Upgrade Stock To 'buy' After Nilekani Rejoins Board

Infosys shares rallied as much as 4.5 percent in early trade Monday as analysts upgraded the stock after co-founder Nandan Nilekani joined the company again as non-executive chairman.

CLSA upgraded the IT bellwether to buy from underperform and raised target price to Rs 1,070 from Rs 940, saying Nilekani's return gave the company the best start in 6 years to regain leadership stability.

The research house also upgraded margin assumptions by 70 basis points for FY19-20, which resulted in 7 percent EPS raise & higher target multiple of 15.5x. Better balance of margin & growth drove margin upgrades, it said.

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Equity Benchmarks Continued To Trade Higher In Morning

Equity benchmarks continued to trade higher in morning as the Sensex was up 182.73 points or 0.58 percent at 31,778.79, and the Nifty gained 55.65 points or 0.56 percent at 9,912.70.

About two shares advanced for every share falling on the BSE. Jubilant Life Sciences said Jubilant Pharma, a material wholly owned subsidiary, through one of its wholly owned subsidiaries, has received abbreviated new drug application final approval for Indomethacin capsules USP, 25 mg and 50 mg.

It is the generic version of Indocin of Iroko, which is a nonsteroidal anti-inflammatory drug used for the treatment of moderate to severe inflammation and reduce pain.

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Thursday, 24 August 2017

Nifty To Move In 9700-9950 Range; 4 Stocks Which Can Give Up To 25% Upside

The Nifty50 is seen consolidating above its key value area placed around Rs9,700 region. The confluence of lower band of the expanding price channel encompassing the up move since April 2017 till date, previous breakout area of June 2017 and 61.8% retracement of the last rising segment converging around 9,700 regions make this a good value area for the stock in the present scenario.

We believe the overall price structure remains positive as the index continues to form rising peaks and troughs on all time frames.

The ongoing secondary corrective phase forms part of the larger degree uptrend and provides incremental opportunity to accumulate quality stocks in a staggered manner.

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Nifty Midcap Was Up 0.2 Percent, SREI Infrastructure Shares Gained 3.5 Percent

Infosys, ITC, TCS, Reliance Industries, L&T, Sun Pharma, Lupin and M&M gained while HDFC Bank, Maruti Suzuki, Kotak Mahindra Bank, HUL, Bajaj Auto and SBI were under pressure.

Nifty Midcap was up 0.2 percent. SREI Infrastructure shares gained 3.5 percent as Bharat Road Network IPO will open from September 6-8.

United Spirits, United Breweries, Alembic Pharma, Mcleod Russel, Praj Industries and Ugar Sugar Works gained up to 6 percent.

Fortis Healthcare, DLF, Allahabad Bank, Dena Bank, SPARC, Andhra Bank, Castrol, Jaypee Infratech and Union Bank were under pressure.

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Wednesday, 23 August 2017

Traders Are Advised To Remain Cautious; 5 Stocks Which Can Give Up To 16% Return

The Nifty50 has strong resistance in the range of 9,850 to 9,880 and support is placed in the range of 9,700- 9,680.

The foreign institutional investors has been continuously selling calls and buying puts as well they are net- net sellers in both derivative and cash segment in the currents series.

Generally August series remains volatile with negative returns if we analyse historical records and the data indicates short buildup by the stronger hand in current series. Going forwards, we advise traders to remain cautious in current series.

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Equity Benchmarks As Well As Broader Markets Continued To Trade Higher

Equity benchmarks as well as broader markets continued to trade higher in morning despite weakness in Asian peers.

The 30-share BSE Sensex was up 137.35 points at 31,429.20 and the 50-share NSE Nifty rose 36.95 points to 9,802.50 while the BSE Midcap index was up 0.4 percent and Smallcap gained 0.8 percent.

The market breadth was positive as about 1,315 shares advanced against 551 declining shares on the BSE.

All sectoral indices were positive as Nifty Bank, Auto, FMCG and Pharma gained 0.2-0.7 percent.

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Tuesday, 22 August 2017

Sensex Off Opening Highs, Nifty Slips Below 9,800; HDFC Bank Declines

The 30-share BSE Sensex was up 51.82 points at 31,310.67 and the 50-share NSE Nifty rose 24.20 points to 9,778.55.

Suhas Harinarayanan of JM Financial said earnings in Q1FY18 have been worse than anticipated.

For the companies under coverage, profit had a YoY decline of 15 percent against expectation of 9 percent decline. This, despite a better than expected YoY revenue growth of 10.9 percent, he explained.

"Our model portfolio emerges from a bottom-up approach with a recommended overweight on private financials, pharma, and industrials like L&T," Harinarayanan said.

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Equity Benchmarks Erased Some Gains In Morning

Equity benchmarks erased some gains in morning, with the Nifty falling below 9,800 level due to profit booking HDFC Bank and SBI.

The 30-share BSE Sensex was up 51.82 points at 31,310.67 and the 50-share NSE Nifty rose 24.20 points to 9,778.55.

The broader markets turned flat as market breadth is balanced. About 897 shares declined against 815 advancing shares on the BSE.

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Monday, 21 August 2017

Stocks In The News: HDFC, Infosys, ICICI Bank, Reliance Capital, Usha Martin, Laurus

Infosys
-US investor rights firms prepare to investigate potential claim against Infosys
-Goldberg Law PC announces an investigation of Infosys
-Rosen Law firm announces investigation of securities claims against Infosys

HDFC Life files for IPO
-Initial public offering of up to 29.98 crore equity shares
-Book running lead managers include Morgan Stanley
-Book running lead managers include HDFC Bank, Nomura, Credit Suisse

ICICI Bank
-Revises interest rates on savings bank account
-Interest rate on deposits below Rs 50 lakh revised to 3.5 percent
-Interest rate on deposits of Rs 50 lakh & above remains unchanged

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Sensex Rebounds, Nifty Reclaims 9850 Amid Volatility; Infosys Dips 3%

Shares of Laurus Labs rose 3.5 percent in morning trade on the back of completion of USFDA inspection.

The company has completed the US Food and Drug Administration inspection of its API facilities in Units 1 and 3 at Parawada, Visakhapatnam, Andhra Pradesh with two observation which are only procedural in nature.

This is a regular surveillance audit by USFDA, and no data integrity issues were observed in the inspection.

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Friday, 18 August 2017

Vishal Sikka Resigns As Infosys CEO & MD With Immediate Effect

Vishal Sikka has resigned as the Chairman and Managing Director of Infosys with immediate effect, the company stated in a communication to the exchanges on Friday morning.

Sikka cited among his reasons for leaving "a continuous stream of distractions and disruptions over the recent months and quarters, increasingly personal and negative as of late, as preventing management's ability to accelerate the Company's transformation".

Sikka has been appointed as Executive Vice-Chairman while Chief Operating Officer UB Pravin Rao will now take over as the interim MD and CEO of the software major.

Infosys said that the succession plan for appointment of a new Managing Director and Chief Executive Officer has been operationalised by the Board and a search for the same has been commenced.

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Japan's Nikkei 225 Fell 1.31 Percent As Risk Off Trade From The US Session

Japan's Nikkei 225 fell 1.31 percent as risk off trade from the US session followed through into the Asian trading day. Across the Korean strait, the Kospi declined 0.81 percent.

Meanwhile, Australia's S&P/ASX 200 tumbled 1.10 percent, driven by broad-based losses across all sub-indexes barring the health care sector. The heavily-weighted financials sub-index recorded a 1.59 percent fall.

US stocks sold off on Thursday, with the S&P 500 recording its biggest daily percentage drop in three months as escalating worries about the Trump administration's ability to push through its economic agenda rattled investors.

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Thursday, 17 August 2017

Nifty Manages To Hold 9900, Midcaps & PSU Banks Rally

The Nifty managed to hold on to 9900-mark. The Sensex was up 83.82 points at 31854.71, while the Nifty was up 30.30 points at 9927.60. 

The market breadth was positive as 1,348 shares advanced against a decline of 437 shares, while 62 shares were unchanged.

Metal stocks continued to gain, but in the broader market, midcaps and smallcaps continued to rise, which aided the rally on D-Street.

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Asia Shares Up On North Korea Reprieve, Dollar Back In Doldrums

Asian stocks edged up on Thursday as tensions between the US and North Korea came off the boil, while worries about President Donald Trump's ability to implement his pro-growth agenda and the Federal Reserve's concerns about low US inflation hit the dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 percent in early trade. Japan's Nikkei slipped 0.1 percent, weighed down by the yen's strength.

South Korean shares advanced 0.1 percent after the leaders of both North Korea and the United States appeared to back off from their heated rhetoric from last week.

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Wednesday, 16 August 2017

The Indian Rupee Slipped In The Early Trade On Wednesday

The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 16 paise at 64.28 per dollar versus 64.12 Monday.

Pramit Brahmbhatt of Veracity said, "Encouraging US economic data and FII outflows will help the dollar appreciate. We expect the USD-INR to trade in a range of 64-64.50 for the day."

The US dollar strengthened after economic data, including July retail sales, beat expectations and cast the economy in a relatively favourable light.

Among global markets, Asian shares were mostly higher in early trade as investors digested earnings releases from regional corporates and a resurgent dollar.

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Equity Benchmarks Continued With Its Positive Momentum

Equity benchmarks continued with its positive momentum from the previous session and opened on a good note, with the Nifty reclaiming 9800-mark.

At 9:16 am, the Sensex was up 77.14 points at 31526.17, while the Nifty rose 23.05 points at 9817.20. The market breadth was positive as 626 shares advanced against a decline of 186 shares, while 27 shares were unchanged.

Midcaps were back in favour as they outperformed the benchmarks, while other gainers included FMCG, auto stocks and metals.

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Monday, 14 August 2017

Nifty Midcap Was Up 1.5 Percent On Strong Market Breadth

Nifty Midcap was up 1.5 percent on strong market breadth. About five shares advanced for every share falling on the NSE.

Suzlon Energy, CESC, BEML, Adani Ports, DLF, Sun TV, CG Power, JP Associates, GVK Power, GMR Infra, Techno Electric, Voltamp Transformers and Mercator surged up to 7 percent.

Shares of Suzlon Energy added 10 percent intraday as the company turned profitable in the quarter ended June 2017.

The company has reported net profit of Rs 63.7 crore in the quarter ended June 2017 against the loss of Rs 257 crore, in the same quarter last fiscal.

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