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Hexaware comes down 9%, post in-line Q1
NEW DELHI: Hexaware tumbled over 9 per cent on Wednesday even as the IT firm's June quarter numbers largely met analysts' expectations.

The stock fell 8.74 per cent to hit a low of Rs 453.10 on the BSE today.

The IT firm reported a profit after tax of Rs 153.6 crore for the second quarter of 2018, up 14.3 per cent sequentially and 25.4 per cent

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PMS cloners drown in the small-cap meltdown
Imagine a town that was hurriedly developed without the necessary planning and foundations. Soon, a mini quake hits the area, sending several of these newly-built structures crashing. The buildings built with necessary foundations, however, stay resilient. The current state of the midand small-cap segments bears resemblance to such a rapidlybuilt
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Alphabet boosts Wall Street, pushes Nasdaq to record high
U.S. stock indexes climbed on Tuesday and the Nasdaq hit a new record high as Google-parent Alphabet's strong quarterly results reaffirmed expectations of a robust earnings season and sparked a rally among technology shares.

The benchmark S-P 500 index rose to its highest since early February, and to within 2 percent of its late-January

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Market now: RCom, Suzlon, Adani Enterprises turn most active by value
With nearly 6.50 crore shares changing hands, Reliance Communications emerged as the most traded stock on the NSE on Wednesday.

It was followed by Suzlon Energy (4.06 crore shares traded), Adani Enterprises (2.08 crore), JP Associates (1.84 crore), Adani Power (1.49 crore), Ashok Leyland (1.37 crore), PC Jeweller (1.22 crore), TV18 Broadcast

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Rakesh Jhunjhunwalafund pumps Rs 90 crore into Barbeque Nation
MUMBAI: Alchemy Capital, an investment fund co-founded by Rakesh Jhunjhunwala, has bought about 3.5 per cent stake in restaurant chain Barbeque-Nation Hospitality for Rs 90 crore. The fund acquired the stake as part of a pre-initial public offering deal, valuing the company, promoted by Sayaji Hotels, at around Rs 2,300-2,400 crore, said
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Asia Investment sells Adani Enterprises shares worth Rs 138 crore
New Delhi: Foreign investor Asia Investment Corporation today sold 80 lakh shares of Adani Enterprises for Rs 138.60 crore through an open market transaction.

According to the bulk deal data available with the NSE, Asia Investment disposed of 80 lakh shares, amounting to 0.73 per cent stake in Adani Enterprises.

The shares were offloaded at an

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As Pakistan votes to elect new PM, equity barometer KSE100 jumps 2%
NEW DELHI: Pakistan's Karachi Stock Exchange 100 index jumped over 2 per cent in Wednesday’s trade as the nation went to polls to elect a new government.

More than 30 political parties have fielded candidates in the elections, where cricketer-turned-politician Imran Khan’s Tehreek-e-Insaf Pakistan Muslim League is fighting a fierce battle against f

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Sensex hits record high, pares gains; Nifty50 tests 11,150; Symphony dives 17%
NEW DELHI: Benchmark indices opened on a higher note on Wednesday, tracking firm cues from other Asian markets, ahead of expiry of July series futures and options contracts on Thursday.

The BSE Sensex rose just over 100 points to hit an all-time high of 36,928.06, only to erase gains. The Nifty50 breached 11,150 level and was less than 20 points

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Inox Leisure Q1 net profit jumps 15% to Rs 37 crore
MUMBAI: Inox Leisure, the second largest multiplex player in the country, has posted a 15 per cent jump in its net profit for the first quarter of the fiscal. The company has posted a net profit of Rs 37 in the quarter ended June 31, 2018, from Rs 32.1 crore in the corresponding quarter of the previous fiscal.

Revenue from operations during the

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BHEL Q1 net profit doubles to Rs 156 crore; Co meets Street estimates
NEW DELHI: BHEL on Wednesday reported a near doubling of its net profit at Rs 155.58 crore for the June quarter, which was largely in line with the Street estimates. This is against Rs 80.82 crore profit the company reported in the corresponding quarter last year.

Revenue for the quarter rose 8.12 per cent YoY to Rs 5,790.08 crore against Rs

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ICICI Prudential Life InsuranceQ1 net profit falls 30%
MUMBAI: ICICI Prudential Life Insurance reported that its June quarter net profit plunged 30% due to expenses incurred on selling policies, but key metrics that determine future prospects improved.

The first private sector life insurer to turn public said its net profit for the June quarter fell to ₹282 crore, from ₹406 crore a year earlier, the co

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PFC to seek shareholders nod for raising Rs 65,000 crore
NEW DELHI: State-owned Power Finance Corporation (PFC) today said it will seek shareholders' approval for raising Rs 65,000 crore through issue of debentures on a private placement basis.

The company board today approved the proposal for seeking the nod of shareholders in the ensuing annual general meeting to raise up to Rs 65,000 crore through

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Look around, can you see where tomorrowwinners will be from
NEW DELHI: India is fast emerging as a market for premium products with rising per capita income and improving infrastructure.

Today, a customer does not mind waiting a couple of months for a premium motorcycle or paying a few extra bucks for better services.

And reading between the lines, analysts say companies that focus on premiumisation would

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Trade setup: Nifty50 set to retest 11,171 level; use any dips to buy
The equity market extended its upmove on anticipated lines and ended on a positive note. After trading stable for most part of the day, the Nifty saw some paring of gains in between. However, it recovered from the low point and ended the day with a net gain of 49.55 points or 0.45 per cent.

While maintaining a positive bias for Wednesday’s trade, w

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India's bank non-performing loans rise to $150.2 billion at end-March
NEW DELHI: Bad loans held by India's banks rose to 10.36 trillion rupees ($150.21 billion) at the end of March, the government said on Tuesday, with state-backed lenders accounting for more than 86 percent of the total non-performing loans.

Twenty one banks majority owned by the Indian government had gross non-performing loans of 8.96 trillion

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Stock market update: 10 stocks that rallied over 5% today
NEW DELHI: Benchmark equity indices turned volatile after hitting a new high of 36,928.06 on Wednesday.

Investors turned cautious ahead of July futures and options (F-O) expiry amid mixed quarterly earnings.

However, shares of Navin Fluorine rallied more than 12 per cent today. Stocks such as Adani Green Energy (up 9.97 per cent), PSL (9.30

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Hero MotoCorp, L T Q1 earnings on Wednesday; here's what to expect
Two index heavyweights, two-wheeler major Hero MotoCorp and infrastructure conglomerate Larsen - Toubro (L-T), are slated to announce their financial results for the quarter ended June on Wednesday.

Shares of Hero MotoCorp settled 2 per cent down at Rs 3,101.45 on Tuesday ahead of its quarterly numbers, while L-T closed 3.36 per cent

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NEW DELHI: Dalal Street had yet another rewarding session on Tuesday, with both Sensex and Nifty scaling fresh record peaks on a closing basis.

Heavy buying in construction and engineering major L-T, Infosys, HDFC and Maruti lifted the 30-share pack of BSE 106 points to a record high of 36,825.

The broader Nifty50 index added 49.55 points to

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Hero MotoCorp drives higher ahead of Q1 earnings
NEW DELHI: Hero MotoCorp ran up ahead of its financial results for the June quarter due today.

The scrip jumped 1.48 per cent to Rs 3,147.50 at around 9.40 am. The BSE Sensex was almost flat at 36,852.

Brokerage firm Emkay Global Financial Services believes that standalone revenue of Hero MotoCorp is likely to grow by 14 per cent year-on-year

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Rail stocks in heavy demand; soar up to 20%
New Delhi: Shares of companies related to the railways sector saw heavy demand, surging up to 20 per cent, amid reports of global tender for the supply of long rails opening today.

Texmaco Rail - Engineering soared 20 per cent to end at Rs 70.80 -- its upper circuit limit -- on BSE.

Shares of Titagarh Wagons jumped 19.96 per cent to settle at

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RBI to go for status quo in August: SBI's economic research wing
MUMBAI: The Reserve Bank of India (RBI) will go for status quo in key policy rates in its August policy review, the economic research department of country's largest lender SBI said today.

The call is contrary to the expectations of a majority of analysts predicting for another hike given the rise in inflation lately, including domestic ratings

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Dr Reddy's trades steady, shrugs off legal challenge
NEW DELHI: Stock of Dr Reddy's Laboratories on Wednesday appeared unmoved by reports of AstraZeneca filing a lawsuit against the domestic drug maker in the Delhi High Court.

The legal move is a bid to stop DRL from launching generic versions of Brilinta, AstraZeneca's blockbuster medicine for heart ailments.

The UK biopharmaceutical company claims

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Sebi proposes easier rules to reclassify promoters as public shareholders
New Delhi: Markets regulator Sebi today came out with proposals to simplify existing framework on re-classification of promoters as public shareholders.

It has been proposed that if a promoter plans to be re-classified as a public shareholder, then the entity needs to first apply to the listed company.

The listed firm would then seek the approval

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F O: What does OI at Calls Puts tell us about Nifty-s next move
By Chandan TapariaThe Nifty50 index continued its positive momentum and headed towards the 11,143 level on Tuesday. It recently surpassed the immediate hurdle at 11,080 and saw the highest-ever daily close.

The index formed a bullish candle and managed to hold above the breakout zone. Now, it has to hold above 11,080 to extend its gains towards a

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Symphony plunges 16% post Q1 results
NEW DELHI: Symphony took a hit of 16 per cent on Wednesday as it put up a dismal show on the earnings front.

The company on Tuesday reported a 48.71 per cent year-on-year fall in consolidated net profit at Rs 20 crore for the quarter to June. The figure for the corresponding quarter last year stood at Rs 39 crore.

Consolidated net sales slipped

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HDFC plans to raise Rs 35,000 cr via bonds
New Delhi: HDFC Ltd today said it plans to raise up to Rs 35,000 crore by issuing bonds on a private placement basis.

The board of directors of the mortgage lender will seek approval of shareholders in the ensuing annual general meeting to be held on July 30.

HDFC will also declare the financial results for the first quarter ended June of the

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Nifty still shy of Jan highs, but 10 stocks made Rs 6 lakh crore in 6 months
NEW DELHI: Taking its winning streak to third straight session, NSE barometer Nifty on Tuesday hit a closing high of 11,143, just 37 points short of its record intraday high of 11,171 hit on January 29, 2018.

But within the index, some stocks have not only recovered but offered handsome return of up to 60 per cent to investors in this period.

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NEW DELHI: This $164 billion fund owns approximately Rs 80,000 crore worth of Indian shares, making it the largest foreign portfolio financier (FPI) in India. Private lending institution HDFC Bank (4th), Reliance Industries (6th), Kotak Mahindra Bank (14th) are a couple of Indian stocks, which were amongst its top 25 holdings in worth terms since June 30. A part of
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Govt plans to sell 5% in BEL; may fetch Rs 1,300 crore
The government is planning to sell 5 per cent stake in Bharat Electronics Ltd (BEL) through offer for sale, which could fetch about Rs 1,300 crore to the exchequer.

The government currently holds 66.79 per cent in the defence PSU.

The government has invited bids from merchant bankers by August 14. Up to 3 bankers will be appointed for taking

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Tejas Networks net profit grows 120% on India growth
Tejas Networks, networking equipment maker, reported 120 per cent growth in net profit to Rs 45 crore for the April-June quarter on the back of broadband expansion in India. The company posted a net profit of Rs 20.44 crore during the year-ago period.

Tejas Networks reported a 16 per centgrowth consolidated revenues to Rs 232 crore during the

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