Wednesday, 22 November 2017

The Rupee Climbed 7 Paise To 64.81 Against The US Currency Today

The rupee climbed 7 paise to 64.81 against the US currency today, spurred by positive equities. Banks and exporters chose to kept an arm's length from the dollar.

Stock markets continued to show strength that bolstered rupee sentiment, currency traders said. However, the dollar's clout overseas weighed heavy on the domestic unit.

Yesterday, the rupee had gained 22 paise to end at a two-week high of 64.89 against the dollar, cashing in on positive sentiment after Moody's upgrade of India's credit rating.

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Equity Benchmarks Were Off Their Opening Highs In Morning, Weighed By Metals

Equity benchmarks were off their opening highs in morning, weighed by metals, pharma and banks stoEquity benchmarks were off their opening highs in morning, weighed by metals, pharma and banks stocks. Profit booking could be actual reason as the market rallied since last Thursday.

The 30-share BSE Sensex was up 17 points at 33,495.35 and the 502-share NSE Nifty fell 9.70 points to 10,317.20.

Reliance Industries, Bajaj Finance, IOC, Vedanta, Bharti Infratel, Axis Bank, Yes Bank, Tech Mahindra and HPCL were under pressure.cks. Profit booking could be actual reason as the market rallied since last Thursday.

The 30-share BSE Sensex was up 17 points at 33,495.35 and the 502-share NSE Nifty fell 9.70 points to 10,317.20.

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Tuesday, 21 November 2017

The Rupee Firmed Up 8 Paise To 65.02 Against The Dollar Today

The rupee firmed up 8 paise to 65.02 against the dollar today, set off by fresh selling of the US currency by exporters and banks.

The local unit received some good support from higher domestic equities. But a strong dollar overseas kept the rupee in check.

Yesterday, the rupee had retreated from its near one-week high and ended lower by 10 paise at 65.11 in a restricted trade amid stray dollar demand.

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Mahindra & Mahindra, One Of India's Oldest Vehicle Manufacturers

Mahindra & Mahindra, one of India's oldest vehicle manufacturers, is testing autonomous tractors, trucks and cars, while moving closer to bringing electric vehicles to the United States, Chairman Anand Mahindra said.

The company, which opened a new North American headquarters north of Detroit on Monday, is considering when to begin US sales of the vehicles, Anand Mahindra said in an interview.

It is also weighing whether the vehicles should carry the Mahindra brand or those of its affiliates Pininfarina, the famed Italian design house; and Ssangyong Motor Co , a Korean manufacturer of utility and crossover vehicles, he added.

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Monday, 20 November 2017

SEBI Begin Crackdown On Penny Stock Firms In PMO-Led Push

The SEBI, on the other hand, is drawing up stringent rules for companies prone to price manipulation and widening the scope of Graded Surveillance Measures.

Graded Surveillance Measures are applied to securities which witness an abnormal price rise not commensurate with financial health and fundamentals.

These measures, aimed at enhancing market integrity, include reduction in price band, periodic call auction and transfer of securities to Trade to Trade category from time to time.

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Glenmark Pharmaceuticals Has Received Final Approval From The US

Glenmark Pharmaceuticals has received final approval from the US health regulator for generic version of Loestrin tablets used to prevent pregnancy.

"Glenmark Pharmaceuticals USA has been granted final approval by the US Food and Drug Administration for Hailey 24 Fe (Norethindrone Acetate and Ethinyl Estradiol tablets, USP and Ferrous Fumarate tablets), 1 mg/20 mcg, the generic version of Loestrin 1 24 Fe tablets, of Allergan Pharmaceuticals," the company said in a filing.

The 30-share BSE Sensex was down 30.71 points at 33,312.09 and the 50-share NSE Nifty declined 15.80 points to 10,267.80.

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Friday, 17 November 2017

Just Dial Shares Gained 4.5 Percent As Nomura Has Maintained Its Buy Rating

Just Dial shares gained 4.5 percent as Nomura has maintained its buy rating on the stock with increased target price at Rs 635 from Rs 590 per share.

Just Dial remains the most cost-effective SME advertising platform in India, with scope for coverage expansion in tier 2/3 cities, the research house said while expecting an EPS to grow at CAGR of 19 percent over FY17-20 and revenue CAGR of 10 percent over FY17-19

Improved traffic growth trends, stable realisations and operational efficiencies are key positives, it feels.

Nomura said the company has now renewed focus on its core search business, but competition from Google or vertical players is an issue.

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Share Price Of Bank Of Baroda Surged 5 Percent In Morning

Share price of Bank of Baroda surged 5 percent in morning as the company is planning to raise Rs 6000 crore.

The meeting of the designated board committee i.e. Finance Committee of the board will be held on November 21, 2017 to consider and approve raising of equity fund, as per company release.

The equity fund can be raised through qualified institutions placement, and/or rights issue for size and amount as may be decided, within overall approval of the board of raising equity capital up to Rs 6000 crore, it added.

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Thursday, 16 November 2017

Benchmark Indices Extended Gains In Morning, With The Sensex Inching Towards 33,000 Level

Benchmark indices extended gains in morning, with the Sensex inching towards 33,000 level. It was backed by Reliance Industries (up 1.86 percent), ICICI Bank (1 percent), Infosys (1 percent), Tata Motors (1.1 percent) and L&T (0.6 percent).

The 30-share BSE Sensex was up 186.17 points at 32,946.61 and the 50-share NSE Nifty rose 49.30 points to 10,167.30.

The market breadth was strong as about two shares advanced for every share falling on the BSE.

Shares of NCC rose nearly 4 percent in morning as global research firm Macquarie has maintained outperform rating with a target Rs 125 per share.

The research house expects strong revenue growth in FY19, which will lead by strong execution.

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The Rupee Came Under Pressure Against The Dollar Today Slipping 11 Paise To 65.32

The rupee came under pressure against the dollar today slipping 11 paise to 65.32 after upbeat economic data bolstered prospects of a US interest rate increase next month and beyond.

A higher interest regime pulls investors looking for more returns away from emerging markets assets that are considered risky. The American unit strengthened overseas, too.

Forex dealers said increased demand for the US currency from importers and the greenback's gains against other currencies overseas put pressure on the rupee.

Yesterday, the rupee had rebounded 21 paise to close at 65.21 against the US currency, ending its two-day slide on fresh bouts of dollar selling even as trade deficit widened alarmingly to a three-year high.

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Wednesday, 15 November 2017

Demonetisation Exclusive: How Crores Of Undisclosed Cash Moved Into Lakhs Of Bank Accounts

Nearly 18 lakh companies and individuals are under the government’s scanner for depositing unaccounted cash soon after Prime Minister Narendra Modi announced “demonetisation”, banning Rs 500 and Rs 1000 notes from November 8, 2016.

These individuals and companies had disclosed income in their tax returns far lower than the cash deposits during 50 days ending December 30, 2016 that the government had given to people to deposit the outlawed notes.

Hundreds of bullion traders, property dealers, civil contractors, shell companies, petrol pump owners and cooperative societies moved thousands of crores into multiple bank accounts during November 8, 2016 to December 30, 2016 to obscure the trail of slush funds.

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The Rupee Edged Up 8 Paise To 65.34 Against The Dollar In Morning Today

The rupee edged up 8 paise to 65.34 against the dollar in morning today on fresh selling of the US currency by exporters.

Forex dealers said fresh inflow of foreign funds and weakness in the dollar against other currencies overseas supported the rupee.

However, a lower opening of domestic equities and a widening trade deficit to almost a three-year high capped the gains.

Yesterday, the rupee had ended flat to close at 65.42 against the US currency due to fag-end demand for the greenback amid ballooning trade deficit.

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Tuesday, 14 November 2017

Bharti Airtel Via Its Wholly Owned Subsidiary, Nettle Infrastructure

Bharti Airtel via its wholly owned subsidiary, Nettle Infrastructure Investments Limited today announced the successful divestment of 8.3 crore shares of its subsidiary Bharti Infratel through a secondary share sale in the stock market.

The sale was for a total consideration of over Rs 3,325 crore and was executed at a price of Rs 400.6 per share, representing a discount of 3.6 percent to the previous day’s closing price.

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Sun Pharmaceutical Industries Second Quarter Profit Is Expected To Fall

Sun Pharmaceutical Industries' second quarter profit is expected to fall sharply by 64 percent year-on-year to Rs 802 crore due to lower revenue as well as operating income.

Revenue during the quarter is seen declining 17 percent to Rs 6,861 crore compared with Rs 8,265 crore in same quarter last fiscal, according to average of estimates of analysts polled by CNBC-TV18.

EBITDA (earnings before interest, tax, depreciation and amortisation) is likely to fall 57 percent to Rs 1,357.4 crore and margin may shrink 1830 basis points to 20 percent YoY.

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Monday, 13 November 2017

The Sensex Was Down 119.26 Points At 33195.30, And The Nifty Was Down 49.40 Points

The Sensex was down 119.26 points at 33195.30, and the Nifty was down 49.40 points at 10272.40. About 1106 shares have advanced, 1187 shares declined, and 103 shares are unchanged.

M&M, SBI, TCS, Axis Bank, HUL, Tech Mahindra and Axis Bank are the top gainers on the indices, while top losers include Coal India, L&T, ONGC, Cipla, HDFC, Aurobindo Pharma and BPCL.

L&T has maintained its full year revenue growth guidance of 12 percent but won't be meeting order inflow guidance 12-14 percent, R Shankar Raman, CFO said while addressing press conference.

But, he further said total order inflows may be the same as last year or may be a bit above.

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Asian Shares Wavered In Early Trade After US Stocks Closed Mostly

Asian shares wavered in early trade after US stocks closed mostly lower on Friday. The Nikkei 225 fell 0.72 percent, with trading houses, financials and retailers mostly lower. Energy-related stocks, however, were mixed against the broadly declining index: Fuji Oil Holding rose 1.15 percent while Inpex slid 1.52 percent.

Meanwhile, major U.S. stock indexes closed mostly lower on Friday as they snapped multi-week winning streaks while some of the largest tech stocks pulled back. 

The Dow Jones industrial average fell 39.73 points to close at 23,422.21, with Intel and Merck as the biggest decliners. But a 3 percent gain in Disney shares capped losses in the 30-stock index.

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Friday, 10 November 2017

Bank Of India's Second Quarter Earnings Beat Analyst Expectations

Bank of India's second quarter earnings beat analyst expectations, and even the asset quality improved, but the loan growth was tepid.

Profit for the quarter stood at Rs 179.1 crore, which was higher compared with Rs 126.8 crore in year-ago despite lower other income and operating income. It was driven by net interest income, lower provisions and improvement in asset quality.

Net interest income, the difference between interest earned and interest expended, grew by 6.9 percent year-on-year to Rs 2,908 crore for quarter ended September 2017, with slow loan growth.

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The BSE Sensex Recouped Its Early Losses To Trade Flat In Late Morning

The BSE Sensex recouped its early losses to trade flat in late morning deals while the NSE Nifty reclaimed 10,300-mark. The broader markets outperformed, with the Nifty Midcap rising 0.3 percent.

Investors await SBI Q2 earnings and GST meet outcome later today.

At 11:28 hrs IST, the 30-share BSE Sensex was up 12.24 points at 33,263.17 and the 50-share NSE Nifty rose 0.90 points to 10,309.90.

Aurobindo Pharma fell 4 percent and Tata Motors was down 3 percent, even as Q2 earnings were better-than-expected. L&T was biggest gainer, up nearly 4% on winning order worth Rs 4,023 crore.

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Thursday, 9 November 2017

Benchmark Indices Continued To Trade Higher Amid Consolidation In Morning

Benchmark indices continued to trade higher amid consolidation in morning, backed by Reliance Industries, HUL, Tata Motors, SBI and ICICI Bank. HDFC and ITC, however, capped gains.

The 30-share BSE Sensex was up 99.12 points at 33,317.93 and the 50-share NSE Nifty gained 35.10 points at 10,338.30.

The broader markets continued to outperform benchmarks as the Nifty Midcap gained 0.8 percent on strong breadth. About three shares advanced for every share falling on the BSE.

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The Rupee Advanced By 7 Paise To 64.87 Against The Dollar At The Interbank Forex

The rupee advanced by 7 paise to 64.87 against the dollar at the interbank forex market today on increased selling of the US currency by exporters and banks.

A weak dollar against other currencies overseas supported the rupee gains.

Stocks markets opening with gains also bolstered the domestic currency, a dealer said.

Yesterday, the rupee had staged a mild recovery after a two-session fall and ended higher by 7 paise at 64.96 against the US currency.

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Wednesday, 8 November 2017

Share Price Of Adani Power Rose Nearly 4 Percent In Morning As It Has Signed Power

Share price of Adani Power rose nearly 4 percent in morning as it has signed power purchase agreement with Bangladesh Power Development board.

The company's wholly owned subsidiary Adani Power has signed a long term power purchase agreement for net capacity of 1496 MW with Bangladesh Power Development board for 25 years.

The power supply under the PPA will be made from a new 1600 MW ultra supercritical, coal based power plant to be set up by Adani Power at Godda, Jharkhand.

The board of directors will meet on November 11, to consider and approve the unaudited financial results for the quarter and six month ended September 30, 2017.

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Nifty Hovers Around 10,350, Sensex Flat; Airtel, Lupin Most Active

Equity benchmarks continued to consolidate in morning, with the Nifty hovering around 10,350 level. 

Banks, oil & gas stocks and Airtel remained under pressure while FMCG, pharma stocks, HDFC and Axis Bank capped losses.

The 30-share BSE Sensex was up 5.98 points at 33,376.74 and the 50-share NSE Nifty fell 2.70 points to 10,347.50. The broader markets also turned flat despite positive breadth.

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Tuesday, 7 November 2017

The Rupee Fell By 14 Paise To Trade At 64.81 Against The Dollar

The rupee fell by 14 paise to trade at 64.81 against the dollar in late morning deals, following correction in equity market.

The Sensex was down 87.81 points at 33,643.38 and the Nifty declined 30.60 points to 10,421.20.

Yesterday, the rupee had slipped from the six-week high level to close at 64.68 a dollar, down 13 paise on fresh demand for the American currency from banks and importers.

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Cipla Q2 Profit Seen Up 17%; Export Formulations Business May Grow Around 10%

Pharma firm Cipla's second quarter profit is likely to increase 17 percent to Rs 414.7 crore compared with Rs 354.3 crore in year-ago.

Revenue during the quarter is seen rising 7 percent to Rs 4,008.8 crore from Rs 3,751 crore YoY, according to average of estimates of analysts polled by CNBC-TV18.

Revenue growth may be driven by recovery in India & Invagen portfolio in US. Export formulations business is likely to grow around 10 percent YoY.

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Monday, 6 November 2017

Reliance Communications' Share Price Fell Nearly 6 Percent

Reliance Communications' share price fell nearly 6 percent after the loss-making telecom operator said it would shut down voice call service from December 1 and its customers can move to other networks by the end of the year.

Equity benchmarks recovered losses in last morning deals, backed by banks, FMCG and auto stocks.

The 30-share BSE Sensex was up 19.86 points at 33,705.42 and the 50-share NSE Nifty fell 3.10 points to 10,449.40.

About 1,360 shares advanced against 1,018 declining shares on the BSE.

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The Rupee Dropped By 18 Paise To 64.72 Against The Dollar

The rupee dropped by 18 paise to 64.72 against the dollar at the interbank forex market today amid fresh foreign fund outflows.

Traders said fresh demand for the US currency from importers and a lower opening of the domestic equity market weighed on the rupee.

The dollar's weakness against some currencies overseas, however, restricted the rupee fall, they added.

Foreign investors pulled out around Rs 9,690.84 crore from equity markets on Friday.

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Friday, 3 November 2017

Benchmark Indices Were Mildly Higher Amid Consolidation In Morning

Benchmark indices were mildly higher amid consolidation in morning, as investors await more corporate earnings. Tata Motors, SBI and other PSU companies are yet to announce its second quarter earnings.

The 30-share BSE Sensex was up 58.46 points at 33,631.68 and the 50-share NSE Nifty rose 16 points to 10,439.80.

The Nifty Midcap index gained 0.2 percent and Smallcap was up 0.5 percent. About three shares advanced for every two shares falling on the NSE.

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Bharat Forge Share Price Touched A Fresh Record High

Bharat Forge share price touched a fresh record high of Rs 722, rising 3.75 percent intraday Friday, following sharp improvement in North America class 8 truck orders.

The improvement in truck orders has been continued for the fifth consecutive month in September.

At 10:20 hours IST, the stock price was quoting at Rs 710.90, up Rs 15.05, or 2.16 percent on the BSE.

FTR in its release said preliminary North American Class 8 net orders for October stood at 35,700 units, continuing month-on-month increase of 62 percent versus September and 167 percent above a year ago.

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Thursday, 2 November 2017

SBI's Interest Rates Will Now Be The Lowest In The Industry Below All Its Peers

State Bank of India, country's largest bank has given another boost to borrowers offering home loans starting at 8.30 percent and auto loans at 8.70 percent.

In a major filip to push retail loans, SBI's interest rates will now be the lowest in the industry below all its peers.

Shares of NTPC lost over 2 percent as investors turned cautious following a boiler blast at one of its plant that killed 20 people.

A massive explosion ripped a boiler in the state-run power giant NTPC's Unchahar plant in Uttar Pradesh's Rae Bareli district on Wednesday, killing at least twenty persons while scores suffered severe burn injuries, officials said.

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The Rupee Advanced 2 Paise To 64.57 Against The Dollar Today

The rupee advanced 2 paise to 64.57 against the dollar today as the US Federal Reserve held off on rates and kept the window open for a December hike.

Banks and exporters kept to dollar selling.

The dollar's reduced clout overseas amid uncertainty about prospects of US tax cuts and domestic stock markets opening high were instrumental in the rupee's rise, traders said.

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Wednesday, 1 November 2017

Equity Benchmarks Extended Gains In Morning

Equity benchmarks extended gains in morning, with the Sensex rising more than 300 points after World Bank raised India ranking on ease of doing business. Investors also looked for more corporate earnings, auto sales data, and the outcome of FOMC meet due tonight.

The 30-share BSE Sensex rallied 333.62 points or 1 percent to 33,546.75 and the 50-share NSE Nifty rose 92.90 points or 0.90 percent to 10,428.20.

About three shares advanced for every share falling on the BSE. The BSE Midcap index was up 0.7 percent and Smallcap rallied 0.9 percent.

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Nifty Heading Towards 10,500 In Nov Series; 5 Stocks Which Could Give Returns Up To 17%

The overall derivative data indicates long rollover in the November series with most of the Nifty futures positions rolled with the average of 10,250 futures. The data indicates bullish scenario to continue with Nifty holding multiple strong supports at lower levels.

The major supports are placed at 10,250 and 10,200 spot levels. We can see some bit of short covering on every dip as bulls are very active in this series as well.

In the November option contracts, we are seeing options open interest building up in 10,500 calls and 10,200 puts, so the probable range for the expiry could be 10,000-10,500 with a positive bias.



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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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