StockMarket

Reliance Industries becomes first Indian company to hit m-cap of Rs 8 lakh crore
NEW DELHI: Reliance Industries, which is in a neck and neck fight with TCS in market capitalisation (m-cap) race, on Thursday became the first listed Indian company to hit Rs 8 lakh crore in market valuation.

At Rs 1,262.30, the stock was trading 1.27 per cent higher in Thursday's trading, commanding a market capitalisation of Rs 8,00,001.54

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SBI General Insurance to sell 4% ahead of fiscal-end IPO
MUMBAI: Five investment banks including Kotak Investment Bank, ICICI Securities, JM Financial, Edelweiss and EY are looking to participate in the stake sale process of SBI General where SBI is looking to sell 4 per cent before the IPO expected by end of the fiscal year.

The stake sale in general insurance is likely to happen by the end of the

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By Katherine GreifeldThe United States of America, a currency manipulator

It’s a label more frequently slapped on developing export economies and one that President Donald Trump took up just this week to browbeat China and Europe in his increasingly pitched trade war.

But as outlandish as it sounds, some Wall Street observers say the possibility

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Should you buy L T shares post buyback move
Leading brokerages came out with their bullish view on construction and engineering conglomerate Larsen - Toubro after the company announced its first-ever buyback of shares on Thursday.

The scrip was on a high as it rallied over 2 per cent in the afternoon trade.

The board okayed buyback of shares worth Rs 9,000 crore, which will mean

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Nestle India surges 4% on Flipkart tie-up
NEW DELHI: FMCG major Nestle India surged 4 per cent on early Thursday.

The company in a BSE filing on Wednesday said it has partnered with Flipkart to launch Maggi Special Masala noodles.

At 10:05 am, the stock was 3.60 per cent higher at Rs 11,280 on the BSE.

Under the partnership, from August 21, consumers can pre-book Maggi Special Masala

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By Andreea Papuc and Ruth Carson

Pacific Investment Management Co. sees a 70 per cent chance the world economy enters a recession over the next five years as ultra-loose monetary policy from the U.S. to Europe comes to a halt.

Marc Seidner, chief investment officer of non-traditional strategies at Pimco, warned investors should expect increased

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AMFI should promote direct plans to check mis-selling in mutual funds: Ajay Tyagi, Sebi
Individuals should be encouraged to invest directly if they can manage it on their own, says Ajay Tyagi, chairman of Sebi. The chief of country’s market regulator was talking to reporters at the sidelines of AMFI Mutual Fund Summit 2018.

"There is a strong case for direct plans. AMFI should promote them to check mis-selling in mutual funds,” he s

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Stock market update: PSU bank index top sectoral loser; SBI among top drag
NEW DELHI: Most PSU bank stocks were incurring losses in Thursday's session, putting pressure on the sectoral index.

The top sectoral loser on NSE, Nifty PSU Bank index was trading 2.12 per cent down at 3,209 around 11 am with all components in the red.

Bank of India (down 3.34 per cent) was the top loser in the index, followed by Union Bank of

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Buy Gujarat Industries Power Company, target Rs 137: Emkay Global Financial Services
Emkay Global Financial Services has a buy call on Gujarat Industries Power Company with a target price of Rs 137.

The current market price of Gujarat Industries Power Company is Rs 90.55.

Time period given by the brokerage is one year when Gujarat Industries Power Company price can reach the defined target.

View of the brokerage on the company:Annu

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Nikkei edges up as weak yen helps mood; Continental profit warning hurts autos
TOKYO: Japan's Nikkeiedgedupon Thursday after a weakyen supported overall sentiment, but a profitwarning by Germany's Continental dragged down auto stocks and tire makers.

The Nikkei share average ended 0.2 per cent higher at 22,410.82.

Analysts said that investors were staying on the sidelines as China-US trade talks were underway and the

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MUMBAI : A group of lenders, including Bank of India, State Bank of India (SBI), Allahabad Bank and Dena Bank, is planning to jointly dispose of distressed loans amounting to over Rupee7,300 crore in the first half of next month, according to people aware of the development. Bank of India has the largest chunk of loan, amounting to Rupee5,558
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China stocks fall as infrastructure, utilities firms weigh
SHANGHAI: China stocks fell on Wednesday, weighed down by persistent economic concerns and worries over the outlook for trade ahead of lower-level talks between Washington and Beijing.

The blue-chip CSI300 index fell 0.6 per cent to 3,307.95 points, while the Shanghai Composite Index ended down 0.7 per cent at 2,714.61 points.

Trading activity

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HDFC AMC shares rally post Q1 results
Shares of HDFC Asset Management Company rallied nearly 3 per cent after the country's second-largest mutual fund house, on Tuesday reported a 25 per cent rise in net profit at Rs 205.26 crore for the quarter ended June 2018.

In comparison, the fund house had reported a net profit of Rs 164.57 crore in the April-June quarter of 2017-18.

The

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NEW DELHI: Change is the only constant in stock market and index composition is no exception.

Many heavyweight stocks of yesteryears have since lost their say on the Indian benchmark indices, even as others have come to acquire clout and become titans in Dalal Street’s new power equation.

Take for instance, ONGC, a Nifty heavyweight from 2004 to

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European shares open cautiously after Wall Street's record high
LONDON: European stock markets opened lower on Wednesday, exerting more caution than Wall Street, where the benchmark S-P 500 reached a record high in its longest-ever bull-market run.

At 0730 GMT, the pan-European STOXX 600 was down 0.1 per cent, with no trend evident as investors waited to see whether the United States and China could make

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L T board okays share buyback at Rs 1,500 apiece
NEW DELHI: The board of construction major L-T on Thursday approved first-ever share buyback. The board okayed buyback of shares worth Rs 9,000 crore, which will mean acquisition of 4.29 per cent of the equity.

The board cleared buyback of up to 6 crore shares at a maximum price of Rs 1,500 per share, said an ETNow report.

At this buyback

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NEW DELHI: Change is the only constant in stock market and index composition is no exception.

Many heavyweight stocks of yesteryears have since lost their say on the Indian benchmark indices, even as others have come to acquire clout and become titans in Dalal Street’s new power equation.

Take for instance, ONGC, a Nifty heavyweight from 2004 to

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Buy Mold-Tek Packaging, target Rs 450: Nirmal Bang Securities
Nirmal Bang Securities has a buy call on Mold-Tek Packaging with a target price of Rs 450.

The current market price of Mold-Tek Packaging is Rs 298.

Time period given by the brokerage is one year when Mold-Tek Packaging price can reach the defined target.

Investment rationale by the brokerage:Robust growth expectations from India business: The

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Onion exports rise by 15% as global prices turn competitive for traders
PUNE: Onion exporters see shipments increasing by about 15per cent from a year ago with prices turning competitive in the international market on the back of a government incentive scheme and potential of good domestic production.

After the government extended the Merchandise Export from India Scheme (MEIS) to onion growers, the freight-on-board

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ET Intelligence Group: Over the past two years, India’s truck- and tractor-makers were seeking to join passenger cars on the growth highway, but lingering effects of the currency-note swap and introduction of the uniform producer levy held them back from moving into top gear.

The fog on the windshield appears to have cleared now. In the past one

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Buy Sun TV Network, target Rs 975: JM Financial
JM Financial has a buy call on Sun TV Network with a target price of Rs 975.

The current market price of Sun TV Network is Rs 800.20.

Time period given by the brokerage is one year when Sun TV Network price can reach the defined target.

View of the brokerage on the company:Sun delivered EBITDA as well as PAT beat of 10 per cent in 1QFY19, thanks

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Sebi says no to launch of futures in ‘sensitive& petrol, diesel
MUMBAI: Market regulator Sebi has held back the applications for launch of petrol and diesel futures by commodity exchanges MCX and ICEX, persons aware of the development told ET.

The regulator is learnt to have sent letters to both the bourses recently to the effect that it was not considering their applications for launch of petrol and diesel

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Share market update: Market erases gains, but these stocks jump over 5%
NEW DELHI: Even as equity market erased the early gains to trade flat, shares of GlaxoSmithKline Consumer Healthcare (up 6.79 per cent), Welspun Corp (up 5.65 per cent), Kajaria Ceramics (up 5.24 per cent) and Welspun India (up 5.07 per cent) were trading over 5 per cent higher on BSE in Thursday's session.

Stocks such as Kwality (up 5 per cent),

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By Bhavana Acharya

After cutting back on exposure to software stocks last year, equity funds have picked up the sector again. In the process, funds managed to catch the strong rally in software stocks. Earlier in 2017, equity funds had cut exposure to the sector amid growth troubles that these companies were going through.

However, with the sector

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Top intraday trading ideas for afternoon trade for Thursday, 23 August 2018
NEW DELHI: Equity benchmarks Sensex and Nifty came down from record highs on selling in bank, metal and auto stocks amid weak rupee and mixed global cues in Thursday's session.

ETMarkets.com collated a list of trading ideas from various experts and here's what they had recommended for today’s afternoon trade:

Pritesh Mehta, head-technical

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Stock market update: Pharma stocks in good health; Divi's Labs, Lupin jump up to 3%
NEW DELHI: Gains in shares of Divi's Laboratories (up 2.94 per cent), Lupin (up 2.30 per cent) and Cadila Healthcare (up 1.79 per cent) lifted Nifty Pharma index up in morning trade on Thursday.

Lupin's US arm is recalling 11,706 bottles of Lisinopril tablets, used for treating hypertension, from the American market, USFDA said. The product being

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ETMarkets.com|

Aug 22, 2018, 01.50 PM IST

L-T Finance HoldingsThe current market price of L-T Finance Holdings is Rs 186.30.
Nagaraj Shetti of HDFC Securities has a buy call on L-T Finance Holdings with a target price of Rs 200.

The current market price of L-T Finance Holdings is Rs 186.30.

Time period given by the analyst is one month when L-T Finance

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NCDEX wants to relaunch tur, urad contracts
NEW DELHI: The National Commodity - Derivatives Exchange has sought capital market regulator Securities and Exchange Board of India’s approval for the relaunch of urad and tur contracts. Tur and urad futures were delisted from futures trading in January 2007 owing to price volatility and irregularities.

With pulses selling below their minimum

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Mahanagar Gas slips over 5% post block deals
Mahanagar Gas took a tumble by over 5 per cent early today after two block deals.

A good 14 per cent shares, which translates into 13.90 million, changed hands.

The scrip was 5.23 per cent down at Rs 855 at around 9.18 am. The BSE Sensex was up 119 points, or 0.31 per cent, at 38,405.22.

The ET on Wednesday reported that BG Asia Pacific

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ETMarkets.com|

Updated: Aug 22, 2018, 01.40 PM IST

Aurobindo PharmaThe current market price of Aurobindo Pharma is Rs 662.35.
Nagaraj Shetti of HDFC Securities has a buy call on Aurobindo Pharma with a target price of Rs 720.

The current market price of Aurobindo Pharma is Rs 662.35.

Time period given by the analyst is up to three weeks when Aurobindo Pharma price

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