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Wipro climbs over 6% on $1.5-billion Alight deal
Shares of Wipro advanced over 6 per cent early Monday after the IT services major said it has struck a deal worth of over $1.5 billion with Alight Solutions, its biggest so far.

The software company won an over $1.5 billion engagement from Alight Solutions.

Under the 10-year deal, Wipro will provide a comprehensive suite of solutions and services

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FPIs continue bullish stance on India, infuse Rs 5,100 crore in August
NEW DELHI: Foreign investors have infused over Rs 5,100 crore into the country's capital market in August -- the second consecutive month of inflow -- on improvement on the macro front, better corporate earnings and correction in the mid and small-cap space.

The latest inflow comes following a net infusion of over Rs 2,300 crore in the capital

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Maruti loses speed as August sales slide 3.4% on Kerala floods
NEW DELHI: India's biggest carmaker Maruti Suzuki has lost some momentum as its sales dropped 3.40 per cent in August.

The monthly sales figure, which came out on Saturday, stood at 1,58,189 units. The company sold 1,63,701 units in the same month last year.

Severe floods in Kerala and heavy rains in other parts of the country are to blame, the

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Talking stock: Stay away from cyclicals especially after a run-up
G CHOKKALINGAMMD, Equinomics Research - Advisory

I am holding Aurobindo Pharma at Rs 612, Godrej Agrovet at Rs 613 and Capital First at Rs 652 and Bharat Dynamics at Rs 410. What could be the prospect of these shares after two years —RAJIV RANJANYou may hold Aurobindo and Bharat Dynamics – while rupee depreciation could augur well for A

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Seven of top 10 most-valued companies add Rs 76,227 crore in m-cap
NEW DELHI: Seven of the top 10 most-valued Indian companies together added Rs 76,227 crore in market valuation last week, with HDFC Bank emerging as the biggest gainer.

While Reliance Industries Limited (RIL), HUL and Maruti Suzuki India suffered losses in their market capitalisation (m-cap) for the week ended Friday, rest of the seven firms Tata

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The bulls have started taking a breather given the Nifty50’s spectacular sprint in August. Reliance Industries, this heavyweight, has most likely turned the tide and correction has now set in, which will eventually encompass the entire market.

Surprisingly, the market is not pricing in the disruption that will be caused by the Sino-US trade wars

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Foreign fund managers still back India
The rupee is caught in a downward spiral but foreign fund managers are not panicking yet. This is because they believe that the fall in the rupee should also be seen in the context of the overall decline in emerging market currencies this year. The Indian rupee breached the 71 mark to a dollar and is expected to slide further, which will erode the
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What I read this week: EMs have turned minefield why is India outperforming
One popular way to measure the relative attractiveness of a stock in a particular sector, region or country is to calculate the percentage of stocks in a group that are currently flashing a red performance alert. And that measure for emerging markets is blinking red. And for India, it’s even more alarming with 52.5 per cent of all stocks flashing a
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YES Bank shares fall 5% on uncertainty over CEO term
MUMBAI: Uncertainty over another three-year term for Rana Kapoor as the CEO of YES Bank spooked investors. YES Bank shares fell 5.1 per cent to Rs 343.40 after the bank said late Thursday that Reserve Bank of India has given permission for him to continue only until further orders.

Brokerages have not changed their ratings in general on the bank

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Stock market update: Auto stocks rise up to 4% on August sales numbers
NEW DELHI: Most auto stocks were trading with gains in the morning session of trade on Monday, buoyed by their August sales numbers.

The Nifty Auto index was trading 0.77 per cent up at 11,094 around 10:10 am.

Ashok Leyland (up 4.07 per cent) was the top gainer in the pack.

Ashok Leyland on Saturday reported a 27 per cent increase in total sales

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Macros and rupee trend among 7 factors that will decide market direction next week
NEW DELHI: After a week that saw equity indices Sensex and Nifty end on a subdued note, the domestic equity market has a strong booster in the form of a world-beating GDP growth print going into a new week.

While Sensex fell 45 points on Friday and Nifty inched up by 4 points, they still gained around 1 per cent each on a weekly basis, thanks to a

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New investment cycle nearer than expected: Chris Wood, CLSA
Indian equity market’s resilience may be a signal that a new investment cycle is nearer at hand than the consensus thinks, said Christopher Wood, CLSA’s chief strategist, in a note.

Wood said this would mean that the stock market will be much more resilient to monetary tightening and a higher oil price than currently assumed.

“the stock m

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Hotel Leela jumps over 7% as Brookfield Asset Management looks to buy stake
NEW DELHI: Shares of Hotel Leela surged over 7 per cent in early trade on Monday after ET reported that Brookfield Asset Management is in talks with lender JM Financial Asset Reconstruction Company for acquiring a stake in the debt-ridden hospitality chain.

“Three to four investors are in the fray. Brookfield is one of them. Nothing has been f

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Tweet Buster: Contra investing and Indian marketnext trillion dollar
NEW DELHI: The week gone by was full of action in India’s financial world, what with global legend Warren Buffett’s Berkshire taking exposure to India’s startup sensation Paytm, the rupee plumbing new low and the economy putting up a world-beating performance!

On Friday, India reported June quarter GDP growth at 8.2 per cent, surpassing all

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‘Fiscal slippage will fuel inflation, harden rates&
MUMBAI: Reserve Bank deputy governor BP Kanungo expressed concerns on rising state government borrowings which could derail fiscal consolidation, fuel inflation, increase interest rates and reduce demand for securities from banks.

In a speech at a financial market conclave organised by the Bengal Chamber of Commerce and Industry, Kanungo said that

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Friday’s session remained rangebound wherein the Nifty50 headed nowhere and ended flat with negligible gains. After opening on a buoyant note, the market pared opening gains and spent the rest of the day trading in a capped range. The benchmark Nifty50 ended the day with a gain of 3.70 points, or 0.03 per cent.

As we step into a new week, we once

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The week in 10 stocks: Power sector a big draw, 47 scrips at new highs
NEW DELHI: Market kept its slate clean on Friday by rallying for the sixth straight week on the back of select heavyweights. But the rupee's rapid descent towards 71-mark against the dollar came as a rude jolt.

The Sensex advanced 1.03 per cent to 38,645.10 for the week to August 31, from 38,251.80 in the previous one. The NSE Nifty added 1.06

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Ramky infra sells NAM Expressway to Cube Highways for Rs 1,669 Crore
The Ramky Group, which last fortnight sold a controlling stake in a group company to global private-equity major KKR in a landmark deal, has agreed to sell it's access-controlled road asset NAM Expressway in favour of the Singapore-based toll roads operator Cube Highways for Rs 1,669 crore.

The Hyderabad-headquartered infrastructure firm has been

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Wipro bags over $1.5 billion deal from Alight Solutions
NEW DELHI: IT services major Wipro Sunday said it has won an over USD 1.5 billion engagement from Alight Solutions LLC, its biggest deal till date.

Under the 10-year deal, Wipro will provide a comprehensive suite of solutions and services to the Illinois-based Alight Solutions that provides technology-enabled health, wealth, HR and finance

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Wall Street Week Ahead: US fund managers trim bank stocks on profit worries
NEW YORK: US-based mutual fund managers worried about the outlook for bank earnings have been trimming financial stocks from their portfolios, although some value-oriented portfolio managers and analysts said they still see attractive opportunities in the sector.

The average US based mutual fund reduced its stake in financial companies by nearly

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RBI employees reject Governor Urjit Patel's request, going ahead with mass casual leave programme
KOLKATA: Reserve Bank of India employees have rejected Governor Urjit Patel's request to withdraw their two-day mass leave programme, arguing they are left with no choice but to intensify their agitation to fight for the long pending pension issues.

The employees have called for mass leave on September 4 and 5 under the banner of the United Forum

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Govt may give extension to BoB chief P S Jayakumar
NEW DELHI: The government may give extension to Bank of Baroda Managing Director and CEO P S Jayakumar based on the assessment of his three-year performance, sources said.

Jayakumar was one of the two selected from the private sector and joined the state-owned bank in October 2015.

He was appointed for a three-year term that will come to an end on

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World markets themes for the week ahead
LONDON: Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.

1. MISSING TRADE WAR CASUALTY - JOBSU.S. President Donald Trump's tariff war has cast a shadow over all economic data releases lately, including the biggest market-mover of them all: the U.S jobs

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United Bank of India quits Antwerp diamond hub
By Elizabeth Burden and Thomas BiesheuvelUnion Bank of India is pulling out of the global diamond hub of Antwerp, joining a retreat of lenders from the industry, which has been hit by fraud and bad debt.

The bank has given notice that it will close its branch in the Belgian port city within a year, according to Chief Executive Officer Rajkiran Rai

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Bruised bankers seek consolation prizes after shelved Aramco IPO
Investment banks which lost out on big payouts for the work on the shelved listing of oil giant Aramco are lining up for a raft of other projects as Saudi Arabia pursues reforms.

Banks including JPMorgan and Morgan Stanley worked for months to prepare what would have been the biggest ever stock market debut. But the plan to sell 5 percent of the

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In our previous weekly note, we had mentioned that the Nifty would continue to mark new highs gradually, but a meaningful rise will continue to elude us. Much on the expected lines, the week that went by saw the market refuse to correct and end the week with modest gains.

While the market remained highly overextended on the weekly charts, the

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Buyer of govt's 51% stake in Pawan Hans can decline ONGC's 49% holding
Entities willing to buy the government's 51 per cent stake in Pawan Hans will have the option not to purchase the remaining stake held by ONGC in the helicopter service provider.

Responding to queries raised by bidders, the government clarified today that existing interested bidders need not resubmit their bids for Pawan Hans, which has a fleet of

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Schaeffler to expand in India, lines up 40 million euro capex
KOLKATA: Rolling bearings and linear products maker Schaeffler India will infuse about 40 million euro for expansion in 2018 and hopes to complete the merger of its group companies by end of the year.

Schaeffler has planned a capex of 40 million euro each for expansion in India in 2018 and 2019, Managing Director Dharmesh Arora told PTI. The

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With pickup in volume, cement stocks offering an opportunity
By DK AggarwalThe cement industry is looking for brighter days ahead, which at present has been going through a consolidation phase. In India, cement demand comes from four key segments -- housing, infrastructure, commercial and industrial.

There are expectations that cement demand would pick up in the affordable and rural housing segments and

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PNB plans to sell entire NSE stake for over Rs 48 crore
New Delhi: Punjab National Bank (PNB) is looking to sell its entire holding of 0.11 per cent in the National Stock Exchange (NSE) and expecting to raise over Rs 48 crore by divesting the stake.

Bank's subsidiary PNB Investment Services Limited (PNBISL) has invited bids from merchant bankers on behalf of PNB to arrange for investors.

"Punjab

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