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Showing posts from July, 2019

Sensex Climbs 83 Points, Closes At 37,481, Nifty At 11,118

The biggest jump in the bank and auto sector. The stock market closed with a gain on Wednesday.  Sensex climbed 88 points to end at 37,481.  At the same time, the Nifty closed at 11,118 with a rise of 32 points.  The shares of banks and auto sector saw the highest bounce on Wednesday. Stock of stocks If you talk about Sensex stocks, then there is YES Bank Top Gainer in it.  In addition, an increase of 5.32% in IndusInd Bank, Tata Steel, Hero MotoCorp, Sun Pharma, Bajaj Auto, Power Grid, Tata Motors, SBI and Kotak Bank.  On the other hand, Axis Bank Top Luzerner shares.  It recorded a decline of 4.55 percent.  In addition, Indian Airtel, Reliance, NTPC, Maruti, Tech Mahindra, ONGC, HDFC and HDFC Bank declined. The market was closed with the fall Let the stock market close on the red mark on Tuesday with the fall.  The Sensex closed 289 points down at 37,397.24.  At the same time, the Nifty closed at 103.84, down by 103.80 p...

Coffee Will Continue To Be Coffee/Coffee, Company Gets Assured By NSE

Company is running get assured by NSE There is news of the disappearance of founder of the country's largest coffee chain Cafe Coffee Day, CCD. On Tuesday, the gate of Company of Coffee Day Global Limited located in Mudigere remained closed. The CCD Chain falls under this company. Meanwhile Coffee Day Global Limited's parent company Coffee Day Enterprise Ltd has assured the stock market about this, that the company's work will not stop. More than 19 thousand employees are connected with CCD Chain. Coffee Day Global Limited Company's Gate is closed on Tuesday. The company's command is in the right hands In a letter to the National Stock Exchange of India Limited, the company said, "The Chairman and Managing Director of the company can not be contacted on Monday evening. In this way, we are taking help of the concerned authority. The company is being professionally managed and the qualified leadership team is representing it, which will continue the...

Sensex Shed 153 Points, Vodafone-Idea Breaks 26 Percent

Nifty of National Stock Exchange rolled 11,212 points The effect of the sell-off continued for several days on Monday on the domestic stock exchanges. The Sensex, the Sensex of the Bombay Stock Exchange, dropped by 154 points at 37,728 points and the National Stock Exchange's Nifty closed 71 points down at 11,212 points. Vodafone Idea shares are under heavy pressure on the Sensex and it is trading 23.27 per cent down to Rs 6.82 per share. It has reached its 52-week low level. Earlier, the domestic stock market opened in green mark on the first day of the trading week with slight margin. The 30-share index of the Bombay Stock Exchange, Sensex rose by 43 points to 37,926 and the National Stock Exchange's Nifty advanced 6 points to 11,290. At 9.28 am, the Sensex is trading 11 points up at 37,894 and Nifty is trading 4 points down at 11,279 points. A bullish atmosphere in these stocks In the initial trading, there is a buzz in the Sensex in Vest Industries Limited, Suzlo...

ICICI Bank Posts Q1 Profit at Rs 1,908 cr With 17% NII Growth; Asset Quality Improves as NPA Falls

Net interest income grew by 26.8 percent year-on-year to Rs 7,737.43 crore for quarter ended June 2019, beating analyst expectations. Country's largest private sector lender ICICI Bank posted a profit of Rs 1,908 crore in June quarter (Q1) over lower provisioning and healthy NII growth. It was against the loss of Rs 119.55 crore reported in year-ago period and profit of Rs 969.06 crore in previous quarter. The profit was partly impacted by lower other income. Net interest income grew by 26.8 percent year-on-year to Rs 7,737.43 crore for quarter ended June 2019 with healthy loan growth of 15 percent YoY, beating analyst expectations. NII was expected at Rs 7,427.1 crore, according to a poll of analysts conducted by CNBC-TV18. The year-on-year growth in domestic advances was 18 percent at June 2019. "We continued to leverage strong retail franchise, resulting in a 22 percent year-on-year growth in the retail loan portfolio in Q1. Excluding non-performing and restruc...

Bajaj Finance Recorded Profit of Rs 1195 crore in June Quarter, 43% Growth

Bajaj Finance reported a consolidated net profit of Rs.1,195 crore during the quarter ended June 30, 2019, which is 43% more than the profit of 836 crores in the same period a year ago.  The company gave this information through filing given on Thursday in BSE. 47 percent increase in total income Bajaj Finance said in a statement that during the first quarter of the current financial year, the company's total income (consolidated) went up by 47 per cent to Rs 5,808 crore, compared to Rs 3,938 crore in the same quarter last year. having had. 35 per cent increase in standalone profits According to the statement, the standalone net profit of the company during the April-June 2019 quarter was 35 per cent higher at Rs 1,125 crore, compared to Rs 834 crore in the same period a year ago.  The company's income increased 40 percent to Rs 5,305 crore, while the April-June 2018 quarter

IndiGo Co-promoters Rakesh Gangwal and Rahul Bhatia Take Steps to Resolve Differences

He two co-promoters of IndiGoNSE 4.70 % - Rakesh Gangwal and Rahul Bhatia - have taken steps to resolve differences The spat between the two co-promoters had reached the government's doorsteps when rakesh gangwal sought the regulator as well as government's intervention on the issue of related party transactions which he had earlier highlighted. The talks between the two feuding camps were brokered by IndiGo chairman M Damodaran. According to the report, IndiGo will have four independent directors from the current two. Rakesh Gangwal will have one nomination on the board while Rahul Bhatia can nominate five board members Sources close to Interglobe enterprise told ET that both the parties have the approved these changes. “Board will also have a strength of 10 members now. Out of that, 4 will be independent directors, 5 members will be from Interglobe Enterprise and Gangwal will also be a member. The board will also have an independent woman member,” When contacted, G...

Hindustan Unilever Jumps 14% to Rs 1,755 crore On Better Volume Growth

FMCG major Hindustan Unilever (HUL) has on July 23 reported 14.8 percent jump in its standalone net profit at Rs 1,755 crore on the back of better volume growth . The company had reported a profit of Rs 1,529 crore in the year-ago period.The revenue of the company rose 6.6 percent at Rs 10,114 crore against Rs 9,487 crore. The company has reported domestic volume growth at 5 percent.Earnings before interest, tax, depreciation and amortization (EBITDA) was up 18 percent at Rs 2,647 crore, while margin was at 26.2 percent. The company has reported domestic volume growth at 5 percent. Sanjiv Mehta, Chairman and Managing Director of the company said, "Against the backdrop of moderate market growth, HUL has delivered a resilient performance driven by the expansion of our consumer franchise, improvement in portfolio mix and sustained growth in margins." Reported EBITDA improvement was 250 bps (150 bps on comparable basis after adjusting for accounting impact of Ind AS 116 on...

Cement Stocks Under Pressure; HIL Slips Over 6%

Most cement stocks were trading in the red in Monday's afternoon session. Shares of HIL (down 6.26 per cent), Burnpur Cement (down 4.83 per cent), Sahyadri Industries (down 4.62 per cent), Sagar Cements (down 4.18 per cent), Star Cement (down 4.04 per cent), Everest Industries (down 3.90 per cent), GPT Infra projects (down 3.90 per cent), APCL (down 3.28 per cent), J K Cements (down 3.16 per cent), Morganite Crucible (India) (down 2.99 percent), Heidelberg Cement India (down 2.93 percent. Sanghi Industries (down 1.96 per cent), Ramco Industries (down 1.92 per cent), Panyam Cements & Mineral Industries (down 1.91 per cent), Shree Cement (down 1.81 per cent), Shree Digvijay Cement (down 1.77 per cent), K C P (down 1.67 per cent), Indian Hume Pipe Company (down 1.55 per cent), Kakatiya Cements Sugar & Industries (down 1.41 per cent), Birla Corporation (down 1.22 per cent), Deccan Cements (down 1.07 per cent) too were trading with losses. Meanwhile , Raasi Refractorie...

RIL's Profit Crosses 10 Thousand Crore With 7% Growth, Support From Telecom-Retail Business

Reliance Industries registered a consolidated net profit of Rs 10,104 crore with an increase of 6.8 per cent during the quarter ended June, 2019. The consolidated revenue of the company rose to Rs 1,72,956 crore. The company owned by Mukesh Ambani got a lot of support from the growth in retail and telecom business. 22% increase in revenues According to the regulatory filings given by the company, during the first quarter of the financial year 2019-20, revenues rose 22.1 per cent to Rs 1,72,956 crore. Reliance Jio profits up 45% Talking about Reliance Jio, its net profits increased by 45.6 per cent during the April-June, 2019 quarter to Rs 891 crore. At the same time, Consumer Business contributed 32 per cent to RIT's Abitada. At the same time, the EBITDA of Retail Business went up to Rs 2000 crores. 11,607 crores paid in respect of GST Operational revenue of the company reached 216 per cent growth at Rs 1,61,349 crore, compared to Rs 1,33,069 crore in the same quarter la...

For Relief From Tax May as FPIs Company Registration By Finance Minister

Finance Minister Nirmala Sitharaman on Thursday clearly stated that as a trust, registered foreign portfolio investors (FPIs) will be given new tax surcharge.  He said that as a company, the tax rate on registered FPI will not be affected, and instead of FPI Trust, it may consider re-registration as a company.  The Finance Minister was speaking on questions related to tax in Parliament.  Meanwhile, the Finance Bill, 2019 has been approved in the Lok Sabha. 99% tax rate will fall He said that the direct tax amendment aims to promote Make in India through the Finance Act.  This will reduce tax rates for 99 percent of the companies. No effect on registered FPI as company In relation to the proposed tax on FPI in the budget, he said that the FPI has to give new tax surcharge.  Although they can adopt the option of structuring as their companies and as a trust, they can opt for their registration as registered FPI companies.  They will not have the e...

Wipro Shares 4% Boom With Better Quarter Results

On Thursday, IT companies Wipro saw a 4% jump in shares due to better results of the first quarter of FY2019-20.  The company has posted a net profit of 12.8% in the April-June quarter.  In the Bombay Stock Exchange, the company's stock rose 3.52 per cent to Rs 268.85 per share and the National Stock Exchange (NSE) rose 3.58 per cent to Rs 268.90 per share. Profit of Rs 2,387.60 in first quarter IT company Wipro recorded a profit of Rs 2,387.60 crore in the quarter ended June, 2019, with an increase of 12.8 per cent, against Rs 2,120.80 crore in the same quarter last year.  However, it was 3.86 per cent lower than the profit of Rs 2,483.50 crore in the January-March, 2019 quarter.  Wipro gave this information through a filing in BSE. Total consolidated income increased 5% According to a statement released by Wipro, during the first quarter of the current financial year, its consolidated income increased by almost 5 percent to Rs 15,566.6 crore, compared t...

Another Scam Disclosure PNB is 11% broken Stock, 4 Thousand Crore Market Value Decreased

After another fraud in Punjab National Bank (PNB) , the share of the bank fell to 11% on Monday. This reduced the market cap of the bank by about Rs 4 thousand crores to Rs 33,500 crore in just a few hours. PNB had informed the scam of Rs 3,805 crore on Saturday, which has been charged on Bhushan Power and Steel. Open stock with weakness In the morning, PNB's stock opened at around Rs 76.30 with weakness of around 5 percent and in 7.30 percent weakened in a while. According to an analyst, "Forensic audit is a good example of good governance for the Indian banking sector. This will increase the confidence of the bank in the investor. However, for some time, PNB shares may be seen in weakness. 3805 crores fraud Earlier, on Saturday, the bank had informed the fraud of Rs 3,805 crore, which has a domestic exposure of Rs 3,191 crore, and the $ 4.971 million misappropriations were linked to the Dubai branch of the bank and the $ 3.851 million fraudulent Hong Kong branch. Sig...

DHFL Needs Equity Infusion of Rs 3,000 Crore For Survival

Mortgage lender  Dewan Housing Finance Corp. Ltd  (DHFL) needs between Rs 2,500 crore and Rs 3,000 crore of fresh equity investments to sustain lending operations, two people aware of the development said. DHFL, which declared a quarterly loss of Rs 2,224 crore on Saturday, said in its notes to accounts that the National Housing Bank has restated the company’s FY18 capital adequacy ratio, which measures a bank’s capital in relation to its risk-weighted assets, at 10.24 percent, lower than its own assessment of 15.29 percent and the regulatory minimum of 12 percent. The company, however, said it does not concur with the housing finance regulator’s observation and will provide an appropriate response. Yet, DHFL’s survival hinges on additional capital inflows. Unless it finds fresh money, many lenders, especially banks, will be reluctant to give fresh loans. These loans will enable DHFL to on-lend to some committed but unfinished projects, which will then fetch interest i...

Retail Inflation Inches Up To 3.18 Percent in June, But Well Below RBI Target

The latest price data released by the Central Statistics Office showed that consumer price index (CPI)-based inflation, which measures changes in shop-end prices, remained comfortably within/breached the Reserve Bank of India's target level of 4 percent. India's retail inflation for June inched up to 3.18 percent from 3.05 percent in May. The latest price data released by the Central Statistics Office showed that CPI-based inflation, which measures changes in shop-end prices, remained comfortably within RBI's target level of 4 percent. Food prices, which is a gauge to measure changes in kitchen budgets, grew 2.1 percent in June compared to 1.83 percent in May. Inflation rate in cereals and products stood at 1.3 percent in June as against 1.24 percent in May while vegetables inflation stood at 4.66 percent in June as against 5.46 percent in May. A reading below the RBI inflation target will likely support the RBI's decision last month to cut interest rates to bo...

Diesel, Petrol Prices Do Not Change After Two Days: By ABR Venture Financial Services

After the rise in crude oil prices, the government, which is saving the common man from inflation, is constantly declining diesel prices.  Indian Oil Corp Ltd, the nation's largest oil company, has cut diesel prices again on Thursday, July 11 after two days of stability.  This time the price of diesel has been cut from 12 to 17 paise.  However, there has been no change in petrol prices. Diesel prices in four metros of the country Diesel prices have been cut by 15 paise to 66.34 per liter in the national capital Delhi.  In Kolkata, diesel has been cheaper by 12 paise to Rs 68.37 per liter.  After deduction of 16 paise, diesel in Mumbai is getting Rs 69.53 per liter.  In Chennai it has the highest 17 paise and now its new price has gone up to 70.07 per liter. Due to the decreasing price of diesel According to experts, most diesel is used in cargo transport.  Recently, the increase in diesel prices in the budget was more than 2 rupees and ther...

MNCs With Over 65% Promoter Holding May Consider Delisting After Budget Proposals

Experts say some multi-national companies (MNCs) can consider delisting from bourses if the government proposal to increase minimum public shareholding to 35 percent is formally introduced. Finance Minister Nirmala Sitharaman proposed in her Budget presentation on July 5 to mull increasing minimum public shareholding to 35 percent from present 25 percent. Experts have been cautioning the investors since then. “Each of the MNCs needs to be analyzed separately. Few of the large MNCs already have promoter stake close to 65 percent, so nothing changes. Possibility of delisting is high among those companies where promoter stake is very close to 75 percent thereby meaning that in those companies parent prefers higher stake,” Shailendra Kumar, CIO at Narnolia Financial Services told Moneycontrol.

Titan investors Lose 17k cr in Four Sessions, Know How...?

Titan Company witnessed its biggest single-day fall in 11 years after the stock of the company plummeted as much as 14 percent intraday before closing 12 percent down on July 9. The slump was in reaction to the company's report that indicated a slowdown in the jewellery business, coupled with triple rating downgrades from global brokerage firms Morgan Stanley, HSBC and Credit Suisse. Morgan Stanley downgraded the firm to equalweight from overweight with a target of Rs 1,300 per share. Meanwhile, Credit Suisse downgraded the stock to neutral from outperform with target unchanged at Rs 1,250 per share. HSBC downgraded it to hold from buy, maintaining the target price at Rs 1,300.

TCS to announce Q1 earnings on July 9 - Abr Venture Financial Services

Country's largest IT services provider, Tata Consultancy Services (TCS) is expected to deliver steady growth in revenue but there could be pressure on the margin that may impact profitability in the first quarter of FY20. Company will announce its quarterly earnings on July 9. The constant currency revenue growth could be more than 3 percent with around 20-50 basis points cross currency headwinds, driven by strong order book and retail segment. "We expect constant currency revenue growth of 3.2 percent and cross currency headwinds of 50bps. We expect TCS to post broad-based revenue growth and expect strong deal momentum to continue," Prabhudas Lilladher said. Narnolia said retail is expected to look positive in Q1FY20 as more demand is seen in the industry as the business shifts away from stores/traditional retailer to the web, social media.

Budget 2019: Traditionally Presented yet Futuristic

This Budget takes into consideration the aim of building a $5 trillion economy while incorporating learnings from the Economic Survey 2018-19, on infrastructure spending, affordable housing, credit growth and the MSME sector. The maiden Budget of the re-elected government foresees the Indian economy reaching US$ 3 trillion by the end of the current year. While the first term of the government introduced three major regulatory changes - GST, IBC and RERA - the first Budget of the new term introduces necessary reforms to streamline the tax and regulatory framework to achieve the overall objective of a $5 trillion economy. The vision for the second term is driven by the expansion of physical and financial infrastructure, Digital India, Make in India, start-ups, giving clear signs that India has a clear plan to challenge the manufacturing strength of China. In order to boost the economic growth in India, in line with the Make in India policy, and attract technology to the country,...

FM Nirmala Sitharaman: India Set to Become $3 Trillion Economy this Year

Union Finance Minister Nirmala Sitharaman, presenting the first Budget of Modi 2.0, believes "reform, perform and transform" will succeed in making India a $3 trillion economy this year, unleashing "our capacity to reach $5 trillion in the next few years". Sitharaman spoke about the need to take several structural reforms to achieve this target, including the need to simplify processes to reduce red-tapism. She said the Indian economy, which stood at $1.85 trillion five years ago, has reached $2.7 trillion, and thus, "$5 trillion is within our limits". Investment in infrastructure also remains an important objective with both domestic and foreign players, the minister added. It was stated that India is the sixth-largest economy and third in terms of purchasing power parity (PPP) behind United States and China