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Ind-Ra maintains stable outlook for auto sector for rest of FY19
New Delhi: Ratings agency Ind-Ra today maintained stable outlook for the automobile sector for the remainder of FY'19.

India Ratings and Research (Ind-Ra) however said an upward trend in interest rate and fuel prices would increase cost of ownership for end-consumers and hence curtail PV demand to a certain extent and also affect smaller CV fleet

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IDBI Bank approves issuance preference shares to LIC
IDBI Bank today approved LIC's proposal to pick up additional 7 per cent stake in the bank, a move that will eventually lead to acquisition of 51 per cent shareholding by the insurance behemoth in the debt-ridden lender. The board of directors have approved the proposal for seeking shareholders' approval through postal ballot for the preferential
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Nikkei ends flat, snaps 8-day rally on US-China trade war fears
TOKYO: Japan's Nikkei ended flat on Friday, snapping an eight-day rally after US President Donald Trump said he is ready to quickly ratchet up a trade war with China, rattling Asian markets.

The Nikkei share average ended 0.02 per cent, or 4.35 points, lower at 22,865.15 points, after rising eight consecutive sessions.

The benchmark index hit the

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JPVL board approves conversion of Rs 4,000 crore debt into equity
New Delhi: Jaiprakash Power Ventures today said its board has approved the proposal to alter its memorandum of association to increase authorised share capital of the company to Rs 20,050 crore from Rs 10,050 crore, mainly to convert debt of lender into equity.

The board has approved alteration of clause V of the memorandum of association of the

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JB Chemicals' board approves share buy-back for up to Rs 130 crore
JB Chemicals and Pharmaceuticals said today that its board has approved the buy-back of up to 33.33 lakh shares of the company for up to Rs 130 crore.

The company has offered to pay Rs 390 per share.

This excludes transaction costs such as fees, brokerage, taxes and duties, JB Chemicals said in a BSE filing.

The Board of Directors of the company

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Stock market update: RIL, GAIL, BPCL drag oil gas index down
NEW DELHI: Losses in shares of Reliance Industries (RIL) (down 2.78 per cent), GAIL (India) (down 1.10 per cent), BPCL (down 0.99 per cent), Indraprastha Gas (down 0.96 per cent) and HPCL (down 0.22 per cent) were keeping the oil - gas index down in Friday's session.

The BSE Oil - Gas index was trading 0.50 per cent down at 15,045 around

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TCS pips RIL again to become most valued firm
New Delhi: Tata Consultancy Services today regained its status as the country's most valued firm by market valuation after a week, surpassing RIL.

At close of trade today, the market capitalisation (m-cap) of TCS stood at Rs 7,95,654.49 crore, which is Rs 9,183.83 crore more than that of Reliance Industries Limited (RIL) Rs 7,86,470.66 crore

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BSE looks to prevent trade reversals in all equity derivative contracts from Monday
NEW DELHI: To ensure safety of the securities markets, top stock exchange BSE has decided to introduce the mechanism to automatically cancel reversal trades executed on all contracts in equity derivatives segment from Monday.

The mechanism, Reversal Trade Prevention Check (RTPC), is aimed at preventing potential cases of trade reversal taking

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Share market update: Over 50 stocks hit 52-week lows on NSE
NEW DELHI: Over 50 stocks, including Vardhman Textiles, TD Power Systems, Simplex Infrastructures and S Chand And Company, hit 52-week lows in Friday's session.

Palash Securities, MEP Infrastructure Developers, Intrasoft Technologies, Insecticides (India), Indo Tech Transformers, Golden Tobacco, Accelya Kale Solutions, Cochin Shipyard, D.B.Corp

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L T seeks shareholders nod for Rs 9,000 crore buyback
New Delhi: Larsen - Toubro (L-T) today said that it will seek the approval of shareholders to buy back shares worth up to Rs 9,000 crore.

"Notice is hereby givento seek approval of the shareholders for buyback of equity shares, proposed to be passed as a special resolution by the members of Larsen - Toubro Ltd by way of postal

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Share market update: Metals lose shine; SAIL, Hindalco, Nalco top losers
NEW DELHI: Most metal - mining stocks were suffering losses in afternoon trade on Friday.

The BSE Metal index was trading 0.58 per cent down at 13,827 around 02:40 pm.

Steel Authority of India (SAIL) (down 1.66 per cent), Hindalco Industries (down 1.50 per cent) and National Aluminium Company (Nalco) (down 1.31 per cent) were among the top

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Stock market update: Over 35 stocks defied weak market mood, hit 52-week highs
NEW DELHI: Over 35 stocks, including Infosys, ITC, Nestle India, Sun Pharma, Tech Mahindra, Divi's Laboratories and Glenmark Pharmaceuticals, hit 52-week highs on NSE in Friday's trade amid weak market sentiment.

Godrej Consumer Products, Kaveri Seed Company, L-T Technology Services, Merck, Piramal Enterprises, Abbott India, Albert David,

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How India again turned world beater in Q1 Experts decode
MUMBAI/BENGALURU: India's annual economic growth surged to a more than two-year high of 8.2 percent in the three months ended June, powered by a strong performance of manufacturing and consumer spending, Reuters reported.

The latest period's annual pace beat a Reuters poll forecast of 7.6 per cent, and was the highest since India logged 9.3

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SAIL declines dividend to govt, cites financial covenant risk
NEW DELHI: State-owned Steel Authority of India Ltd (SAIL) has declined a government call for a dividend this year, saying it did not have "any cash and bank balance" and that its debt-to-income ratio was much higher than agreed with some lenders, showed an internal company document reviewed by Reuters.

SAIL's refusal could make it harder for the

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$2 billion ECBs maturing; rupee crash leaves these 60 firms at risk
Hedging works in currency only till a point. The rupee’s recent fall, which has left it at levels never seen before, has put additional pressure on the promoters of companies that have large external commercial borrowings (ECB), some of which are maturing in the near term.

ACE Equity data showed outstanding ECB debts worth $1.90 billion of some 60

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NEW DELHI: Indian equity benchmark Sensex extended its loss to the third consecutive session on Friday, while Nifty50 managed to settle with nominal gain. Other Asian markets also saw losses as worries of a trade war between the US and China intensified after the President Donald Trump indicated a new set of tariffs on Chinese goods.

Trump’s c

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Latest MSCI China inclusion is bigger deal for global funds
By Benjamin Robertson and Kana Nishizawa

Many international investors who stayed away when MSCI Inc. first added Chinese stocks to its benchmarks are expected to jump in to the second phase of inclusion.

This time round there’s likely to be more turnover than the initial inclusion period three months ago, when about 35 billion yuan ($5 billion) in C

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Share market update: PSU bank stocks fall up to 3%; PNB, SBI among losers
NEW DELHI: Most PSU bank stocks were incurring losses in morning session of trade on Friday.

The Nifty PSU Bank was trading 0.83 per cent down at 3,267.75 around 10:27 am, with Union Bank of India (down 2.93 per cent) and Bank of India (down 2.65 per cent) as the top losers.

Canara Bank (down 1.97 per cent), Oriental Bank of Commerce (down 1.71

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Tech view: Nifty forms long-legged Doji, suggests indecisiveness on D-St
NEW DELHI: The Nifty50 on Friday settled flat after briefly rising above the 11,700 level in morning trade, suggesting indecisiveness among traders. A long-legged Doji formation on the daily chart also suggested the same.

On the weekly scale, the index formed a Shooting Star pattern. It needs to hold above its immediate support at 11,640 for any

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Share market update: Midcaps and smallcaps outperform Sensex; Petronet LNG, JP Power up
NEW DELHI: The midcap and smallcap indices were outperforming benchmark Sensex in afternoon trade on Friday.

Around 2:20 pm, the BSE Midcap index was 0.17 per cent up at 16,852, while the BSE Smallcap index was 0.32 per cent up at 17,154. The BSE Sensex was 0.08 per cent down at 38,658.

Petronet LNG (up 2.96 per cent), Biocon (up 2.84 per cent),

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HDFC sells Rs 1,000-crore Essar Steel loan
MUMBAI: Mortgage lender Housing Development Finance Corp (HDFC) has sold its Rs 1,000 crore loan in Essar Steel to an asset reconstruction company at a 30per cent loss as the resolution of the bankrupt metals company drags on with promoter Ruias-partnered Numetal and billionaire Lakshmi Mittal battling it out in courts.

With the resolution of

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Sensex falls for 3rd day ahead of Q1 GDP data, Nifty ends at 11,681
NEW DELHI: Domestic equity market continued to consolidate on Friday despite witnessing volatility, as a sharp plunge in the rupee along with weakness in global markets dented investor appetite.

Investors were on tenterhook as they keenly awaited June quarter GDP data scheduled to be released later in the day. Most analysts were estimating the GDP

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European shares slide on trade war threats, Whitbread soars on Coca-Cola deal
LONDON: European shares tumbled for a second day on Friday as reports that US President Donald Trump is planning further tariffs on China heated up a trade war, while Whitbread stole the spotlight after clinching a $5.1 billion deal with Coca-Cola.

The pan-European STOXX 600 was down 0.6 per cent by 0725 GMT, on track for its biggest fall in a

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ET Intelligence Group: After another dismal financial performance with Rs 1,300-crore net loss in the June 2018 quarter, Jet Airways needs to address two glaring questions. One, why was the airline unable to turn around the business even after it secured fresh funding from UAE based Etihad Airways five years agoRs Two, will the latest turnaround
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F O: Nifty has to hold above 11,666 to rise towards 11,777
By Chandan TapariaThe Nifty50 index formed a high wave Doji candle on Friday as it closed flat after moving in a wide range between 11,640 and 11,727 levels. The index witnessed selling pressure at higher levels, but managed to respect the previous day’s low to recover towards 11,680.

It has been moving in a rising channel and respecting its

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GDP growth at 8% or 7.6%: Will India retain tag of fastest growing economy
NEW DELHI: India’s first quarter GDP print is scheduled for release later on Friday, and there is lot of curiosity to know how the world’s fastest-growing major economy fared in a quarter marked by trade tensions.

Economists estimate a quantum jump in economic growth, led by the manufacturing sector, thanks a weaker year-ago base. But they are

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Stock market update: Market come off day's high, but these stocks surge
NEW DELHI: Indian equity market was trading on a volatile note amid weak global cues in the wake of a renewed trade war worries on Friday.

However, some stocks, including Jaiprakash Power Ventures (up 10.53 per cent) and JAI Corp (up 8.92 per cent), were witnessing decent traction in their shares.

Stocks such as Camlin Fine Sciences (up 6.65 per

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By Tomoko Yamazaki and Yumi TesoEmerging-market assets are headed for a monthly loss as declines in Argentina and Turkey sparked fears of global contagion and amid a renewed intensification of US-China trade tensions.

The MSCI EM index of currencies is down 2.2 per cent for August as of 11:57 a.m. in Singapore, poised for a fifth monthly loss, the

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Australian shares fall on fear US-China trade fight to worsen; NZ down
Australian shares fell on Friday, as investors feared an escalation in US-China trade frictions and sold telecom shares that advanced a day earlier on a merger deal announced by TPG and Vodafone's Australian unit.

The S-P/ASX 200 index closed 0.5 per cent lower at 6,319.5, but added 1.2 per cent for the week.

Telecom stocks suffered the

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YES Bank slides 7% as CEO Rana Kapoor stays on
NEW DELHI: Shares of YES Bank declined nearly 7 per cent on Friday even as the Reserve Bank of India (RBI) allowed CEO Rana Kapoor to continue in his present position till further notice.

The RBI announcement came just a day before Kapoor's current 3-year term was about to end.

“We wish to inform you that the bank has received RBI’s approval that

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