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Stock market update: Metal stocks shine; Nalco jumps over 7%
NEW DELHI: Most metal - mining stocks were trading with decent gains in afternoon trade on Thursday, boosting the sectoral index on BSE.

The BSE Metal index was trading 1.17 per cent up at 13,258 around 02:30 pm, with shares of Nalco (up 7.20 per cent) surging.

National Aluminium Company (Nalco) posted a net profit of Rs 687 crore in the first

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Jaiprakash Associates, Jaypee Infratech plunge up to 6% after SC ruling
Shares of Jaiprakash Associates and Jaypee Infratech (JIL) plunged up to 6 per cent after Supreme Court on Thursday said that the promoters of Jaiprakash Associates cannot bid for Jaypee Infratech, which is facing insolvency proceedings before the National Company Law Tribunal (NCLT).

Rejecting Jaypee Associates plea to bid, a bench of Chief

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Buy Indiabulls Housing Finance, target Rs 1,700: CLSA
CLSA has a buy call on Indiabulls Housing Finance with a target price of Rs 1,700.

The current market price of Indiabulls Housing Finance is Rs 1,372.

Time period given by the brokerage is one year when Indiabulls Housing Finance price can reach the defined target.

CLSA's view on the company:For 1QFY19, Indiabulls Housing Finance (IHFL) reported

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Share market update: Auto stocks mixed; Tata Motors, M M keep sectoral index up
NEW DELHI: The BSE Auto index was trading 0.21 per cent up at 24,243 around 02:25 pm on Thursday, with a mixed set of components.

Shares of Ashok Leyland (up 2.35 per cent), Tata Motors (up 1.39 per cent) and Mahindra - Mahindra (M-M) (up 0.84 per cent) were the top gainers in the index.

Balkrishna Industries (up 0.74 per cent), Eicher

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Australia shares end higher, earnings support; NZ up
Australian shares ticked higher on Thursday as investors picked up winners in the earnings season, while gains for financials and deal news around insurer Suncorp Group helped the broader market.

The S-P/ASX 200 index rose 0.5 per cent to reach 6,297.7, after putting on 0.2 per cent on Wednesday.

Crown Resorts Ltd, Australia's biggest casino

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ETMarkets.com|

Updated: Aug 08, 2018, 03.29 PM IST

ArvindThe current market price of Arvind is Rs 396.
CLSA has a buy call on Arvind with a target price of Rs 550.

The current market price of Arvind is Rs 396.

Time period given by the brokerage is one year when Arvind price can reach the defined target. CLSA's view on Arvind:Arvind’s 1QFY19 Ebitda grew 18

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Sebi in process to develop interoperability framework for clearing corporations
NEW DELHI: Markets regulator Sebi is in the process of putting in place a framework for interoperability among clearing corporations - a move that will reduce trading cost.

At present, different bourses have their own clearing corporations, which handle settlement of trades on the respective stock exchanges.

The interoperability would permit

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Tech View: Nifty50 forms bullish candle, but faces stiff resistance ahead
NEW DELHI: Nifty on Wednesday jumped half-a-per cent to hit the 11,450 level on a closing basis. The index made a small bullish candle on the daily chart. For the day, the index rose 60.55 points, or 0.53 per cent.

The benchmark may now find support at around 11,370 zone while 11,500-11,550 levels will act as near-term resistance.

The index

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BEML Q1 loss widens to Rs 160 crore, shares drop 5%
NEW DELHI: BEML on Wednesday reported a loss of Rs 160.34 crore for June quarter against Rs 85.13 crore loss in the corresponding quarter last fiscal.

Revenue from operations for the quarter plunged 28 per cent to Rs 454.68 crore against Rs 631.66 crore in the last-year period.

Total income of the PSU came in at Rs 459.33 crore, down 27.8 per cent

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Stock market update: ONGC, HPCL drag oil gas index down
NEW DELHI: Shares of Castrol India (down 1.82 per cent), ONGC (down 1.75 per cent) and HPCL (down 0.94 per cent) were trading down in afternoon trade on Thursday, keeping the oil - gas index under pressure.

The BSE Oil - Gas index was trading 0.25 per cent down at 15,129 around 02:15 pm.

Shares of Oil India (down 0.32 per cent) and GAIL

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F O: Lower volatility suggests bulls to hold tight grip on the market
By Chandan TapariaThe NSE Nifty50 opened in the positive zone and made a fresh lifetime high of 11,460 during the session on Wednesday. The index managed to hold gains for the entire session and formed a Bullish Candle on the charts. It closed at its highest level ever.

Small declines are being bought in, as the supports are gradually shifting

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Future Supply Chain Solutions Q1 net profit up 37% to Rs 18 crore
Future Supply Chain Solutions has reported a 37.7 per cent rise in its standalone net profit to Rs 17.9 crore for the quarter ended June 30. The company had posted a net profit of Rs 13 crore for the same period a year ago, Future Supply Chain Solutions said in a statement.

The standalone revenue from operations of the company stood at Rs 227.9

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European shares retreat as trade fears, sanctions on Russia weigh
LONDON: European shares retreated across a number of sectors on Thursday as a new batch of corporate earnings triggered sharp price swings but failed to dispel fears about a tense geopolitical context with the China-U.S. trade tensions and new sanctions against Russia.

At 0725 GMT, the pan-European STOXX 600 was down 0.4 per cent with heavy losses

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Bank, energy stocks propel Sensex, Nifty to fresh lifetime high
NEW DELHI: After taking a day’s breather, Indian stock benchmarks Sensex and Nifty scaled fresh all-time high on Wednesday, buoyed by sustained gains in RIL, ICICI Bank, SBI and Hindustan Unilever amid positive global cues.

Investors went for fresh buying after Tuesday's subdued show, following a rally in global stocks in the wake of strong US

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Multiplex stocks make merry on Maharashtra government stance
NEW DELHI: Shares of multiplex players jumped up to 7 per cent on Wednesday after the Maharashtra government filed an affidavit at the Bombay High Court, saying it does not deem it necessary to interfere with the ban on outside food in multiplexes.

The state government contended that it may create chaos or security issues.

Inox Leisure climbed

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HSBC launches online platform MyDeal to raise funds via capital markets
NEW DELHI: HSBC has launched a new digital platform to simplify capital raising process through capital markets by providing real-time access to information such as investors' feedback, profiles, client orders and deal pricing.

The platform -- MyDeal, contains all the information relating to a client's capital markets transaction, and is updated

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Stock market update: Top Nifty gainers losers of Wednesday-s session
NEW DELHI: ONGC, Reliance Industries, Cipla, Bharti Infratel, Bajaj Finance and State Bank of India emerged as the top gainers in the Nifty index on Wednesday.

On the other hand, Lupin, Maruti Suzuki India, HPCL, BPCL, Grasim Industries and Bajaj Auto stood as the top losers in the Nifty index.

Frontline indices Sensex and Nifty rose to yet

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Bombay Dyeing loses more, drops 5% on Q1 loss
NEW DELHI: Bombay Dyeing extended its slide on Wednesday after the company said its net loss widened to Rs 94 crore for the June quarter.

Last year, net loss stood at Rs 32.71 crore.

The company reported its quarterly results during market hours of Tuesday. The stock, which fell 5 per cent on Tuesday, declined another 5 per cent to hit a low of Rs

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Why ICICI Bank stock may double your money in next 2 years
This could come as a breath of fresh air for ICICI Bank. The stock could rally as much as 100 per cent in two years as the narrative shifts to growth from bad loans.

So goes the thinking at global brokerage firm Morgan Stanley.

But hold on, there will be stock volatility for 2-3 quarters, the brokerage cautioned, saying the risk-reward is

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NEW DELHI: Pharma major Cipla on Wednesday reported 4.91 per cent YoY rise in consolidated profit after tax at Rs 446.68 crore, which beat Rs 382 crore profit projected by analysts in an ETNow poll.

The drug maker had reported Rs 425.78 crore profit in the year ago quarter.

Sales for the quarter rose 12.05 per cent to Rs 3,845.84 crore compared

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Mphasis drops 4% on board nod for share buyback
NEW DELHI: Mphasis stock tumbled 4 per cent on Wednesday after the IT firm's board approved a proposal to buy back shares worth of up to Rs 988 crore.

Promoters have intentions to participate in the buyback, the company said.

The stock fell 3.72 per cent to hit a low of Rs 1,148.65. The board said the buyback of shares will done at a maximum

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Bajaj Electricals Q1 jumps 98% to Rs 40.53 crore
NEW DELHI: Bajaj Electricals today reported a 97.70 per cent jump in standalone net profit at Rs 40.53 crore for the first quarter ended June 30, 2018.

The company had registered a net profit of Rs 20.50 crore in April-June period a year-ago.

Its total income in the quarter under review stood at Rs 1,149.24 crore. It was Rs 1,039.90 crore in the

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Buy Max Financial Services, target Rs 577: HDFC Securities
HDFC Securities has a buy call on Max Financial Services with a target price of Rs 577.

The current market price of Max Financial Services is Rs 496.50.

Time period given by the brokerage is one year when Max Financial Services price can reach the defined target.

Views of HDFC Securities on the company: While 1QFY19 total APE grew 17 per cent YoY

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27 firms double profit in Q1, see brokers raise price targets
As June quarter earnings season has crossed the halfway mark amid mixed reviews, 27 BSE500 companies have reported doubling of net profit on a year-on-year basis.

Some of them had a poor base from the after-effect from demonetisation. Data showed some 250 of BSE500 companies have released their quarterly number as of August 7, logging a combined

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NEW DELHI: Orient Refractories, a smallcap company, seems to be firmly on a growth trajectory.

Sample this. Its return scorecard over the last five years reads a solid 880 per cent. And the firm is grabbing headlines again amid reports of its proposed plan of merger with unlisted RHI India and RHI Clasil.

Last week, the company's board announced

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Buy JBM Auto, target Rs 560: HDFC Securities
HDFC Securities has a buy call on JBM Auto with a target price of Rs 560.

The current market price of JBM Auto is Rs 360.15.

Time period given by the brokerage is one year when JBM Auto price can reach the defined target.

The view of HDFC Securities on the company:JBMA recorded strong PAT growth(+26 per cent YoY, +40 per cent including

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Mitsubishi Rabo ready to finance UPL-s Arysta buy
Mumbai: MUFG and Rabo Bank have initiated a $3-billion financing programme for United Phosphorus Ltd (UPL) to fund its purchase of Arysta LifeScience Inc, the largest outbound M-A by an Indian company since the 2008 global financial meltdown. The issue to finance the buyout of the US-based crop protection services firm was launched Tuesday in
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China stocks rebound; tech shares surge on policy support hopes
SHANGHAI: Chinese stocks rebounded across the board on Thursday as investors snapped up healthcare and property shares battered by a recent selloff, while tech firms rallied on hopes of more government support.

Assistance for the tech sector would mark the latest in a series of growth boosting measures being rolled out by Beijing as an escalating

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Buy Emami, target Rs 675: CLSA
CLSA has a buy call on Emami with a target price of Rs 675.

The current market price of Emami is Rs 581.

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

CLSA's view on the company:Emami has been trying investor patience for some time and while there was some improvement in the 1QFY19 results, it could

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Nirav scam still haunts, PNB posts Rs 940 crore loss
New Delhi: State-run Punjab National Bank posted a net loss of Rs 940 crore for the first quarter of 2018-19, weighed down by the provisioning for the Rs 14,000-crore Nirav Modi scam. The bank had reported a profit of Rs 343.40 crore in corresponding quarter last fiscal.

“That one-off incident (Nirav Modi) is eating away our profits,” said PNB’s ma

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