StockMarket

Karnataka elections outcome, Q4 numbers to drive market in the week ahead
NEW DELHI: Neither Karnataka election jitters nor simmering oil prices globally could dampen the spirits of the bulls last week, as the domestic shares posted their biggest weekly gain in five weeks.

Upbeat quarterly earnings and soft US inflation data acted as catalysts to increase investors’ risk appetite on Dalal Street during the week gone by.

Details
Category: Stock Market

Write comment (95 Comments)

Apple is almost a $1 trillion company, but watch out for Amazon
SAN FRANCISCO: Apple is on the verge of becoming the first $1 trillion publicly listed U.S. company, but even if it gets there, it could soon be overtaken as Amazon.com surges from behind.

Started in the garage of co-founder Steve Jobs in 1976, the iPhone maker's annual revenue has ballooned to $229 billion, greater than the gross domestic product

Details
Category: Stock Market

Write comment (100 Comments)

Uco Bank suffered 10th consecutive quarterly loss
KOLKATA: State-owned Uco Bank suffered Rs 2,134 crore net loss for the fourth quarter to March 2018, nearly four times the loss reported in the year ago period.

This was the 10th quarterly loss in a row for the troubled lender that was weighed down by sharp deterioration in asset quality. The bank's net loss for the December 2017 quarter was Rs

Details
Category: Stock Market

Write comment (94 Comments)

The week that was: Graphite stocks mint money; 31 stocks@52-wk high
It was a positive week for the domestic equity market, as benchmarks Sensex and Nifty reclaimed psychologically important 35,500 and 10,800 levels, respectively. Overall, the bulls were in full control during the week gone by with key indices closing in the green in four out of five sessions.

The BSE Sensex gained 620.41 points, or 1.78 per cent,

Details
Category: Stock Market

Write comment (99 Comments)

FMCG offers an opportunity to play rural consumption theme
By DK AggarwalThe fast moving consumer goods (FMCG) sector is an important contributor to India’s GDP growth, with a whopping size of around Rs 500 billion. With the revival in rural demand coupled with new product launches by FMCG companies, revenue growth from the rural segment, which contributes 40-45 per cent of total income of the FMCG firms,
Details
Category: Stock Market

Write comment (96 Comments)

Sebi imposes Rs 22 lakh fine on SPJ Stock Brokers
Markets regulator Sebi today imposed a total penalty of Rs 22 lakh on SPJ Stock Brokers in a matter related to synchronised trading in shares of SKS Logistics.

The Securities and Exchange Board of India (Sebi) had conducted an investigation into the alleged irregularity in the share trading of SKS Logistics for the period from June 1 to October

Details
Category: Stock Market

Write comment (95 Comments)

11 individuals move SC against RBI circular that blocked banking services for bitcoin businesses
A group of eleven individuals have filed a writ petition in the Supreme Court challenging the Reserve Bank of India decision to block “essential services” like banking for cryptocurrency related businesses in India. The case has been listed for further hearing on May 17, 2018.

“Banking is an essential service. How can one deny access to an e

Details
Category: Stock Market

Write comment (99 Comments)

Bad loans push four PSBs to combined Rs 11,729 crore Q4 loss
BENGALURU/MUMBAI: Four Indian state banks reported on Friday a combined net loss of 117.29 billion rupees ($1.74 billion) for the fiscal fourth quarter due to a jump in bad-loan provisions following a tightening of central bank rules.

Bengaluru-headquartered Canara Bank Ltd, the biggest of the four, said its net loss was 48.6 billion rupees for

Details
Category: Stock Market

Write comment (98 Comments)

Morgan Stanley sells 38 lakh shares of Gitanjali Gems
Investment firm Morgan Stanley has sold 37.86 lakh shares of scam-hit jewellery firm Gitanjali Gems through open market transactions, according to a regulatory filing.

Shareholding of Morgan Stanley Mauritius Company Ltd and Morgan Stanley (France) has come now down to 2.06 per cent from 5.25 per cent.

On May 9, Morgan Stanely sold 37,86,860

Details
Category: Stock Market

Write comment (91 Comments)

JK Lakshmi Cement Q4 net soars 2-fold to Rs 96.45 crore
NEW DELHI: JK Lakshmi Cement's standalone net profit more than doubled to Rs 96.45 crore for the fourth quarter ended March 2018, helped by lower tax expenses.

The company had posted a net profit of Rs 42.57 crore in the same quarter of the previous fiscal.

Its total revenue during the quarter under review stood at Rs 1,369.25 crore. It was Rs

Details
Category: Stock Market

Write comment (91 Comments)

PNB splits loan operations to stop future shocks
Mumbai: Scandal-hit Punjab National Bank (PNB) has gone for a four-way split of its loans operations and created a focused offsite centre for monitoring all foreign exchange-related business to ensure that the recent Nirav Modi like episode that created a Rs 13,000-crore crater in its balance sheet does not recur, its chief executive told ET.

These

Details
Category: Stock Market

Write comment (94 Comments)

Allahabad Bank Q4 loss widens to Rs 3,510 crore on frauds, higher provisions
Kolkata: Allahabad Bank reported a net loss of Rs 3,510 crore in the fourth quarter owing to higher loan risk coverage as well as taking cover against frauds involving Punjab National Bank and diamond trader Nirav Modi.

The bank posted net profit of Rs 111 crore in the year-ago period.

In a regulkatory filling to stock exchanges, the bank said it

Details
Category: Stock Market

Write comment (90 Comments)

Oriental Bank of Commerce Q4 net loss widens to Rs 1,650 crore
Public sector lender Oriental Bank of Commerce's (OBC) net loss widened to Rs 1,650.22 crore for the quarter ended March of 2017-18.

The bank had made a net loss of Rs 1,218.01 crore during the corresponding quarter of the preceding fiscal ended March 2017.

Total income of the bank during January-March quarter of 2017-18 came down to Rs 4,689.12

Details
Category: Stock Market

Write comment (100 Comments)

The domestic equity market opened the week on a good note with the frontline indices showing a keen interest in reaching higher levels, but smallcap and midcap stocks showed divergence in performance and underperformed. With a constant depreciation in the rupee, RBI finally stepped in on Monday to calm the currency market. This indicates that the
Details
Category: Stock Market

Write comment (100 Comments)

New India Assurance profit doubles in FY18
Mumbai: New India Assurance reported 118.35% increase in net profit during the financial year ended March 31, 2018 on account of lower claims and reduction in expenses.

During the year, the company reported net profit of Rs 2,201 crore as against Rs 1,008 crore a year ago. The board recommended a one for one bonus. Also, the board declared final

Details
Category: Stock Market

Write comment (96 Comments)

6 lessons from IPL that can make you money on D-Street
NEW DELHI: I tend to think that cricket is the greatest thing God ever created on earth – certainly greater than sex, although sex isn’t too bad either, so says Harold Pinter.

That sums up the craze and love for cricket among Indians.

In cricket-obsessed India, anybody and everybody seems to have a take on the favourite pastime. And the fever

Details
Category: Stock Market

Write comment (97 Comments)

Analysts sceptical over PC Jewellershare buyback plan
Mumbai: The Rs 424-crore buyback announcement by PC Jeweller has raised eyebrows among market participants as they feel company’s balance sheet is not strong enough for the such a spend.

PC Jeweller on Thursday announced a share buyback worth Rs 424 crore, at a price of Rs 350 per share, at a 67 per cent premium to Thursday closing price, to buy

Details
Category: Stock Market

Write comment (90 Comments)

Why global markets are wary of central banks& forward guidance
By Jonathan CableLONDON: After the financial crisis rocked the framework of monetary policy, rate setters took to giving “forward guidance” to steady the ship, but the recent experience of British and Japanese central banks suggests it doesn’t guarantee a smooth journey.

Just a few weeks ago markets and economists were convinced the Bank of

Details
Category: Stock Market

Write comment (96 Comments)

ETMarkets special weekend podcast: Why Karnataka means so much for D-Street
Hi there,

The D-day is here. Karnataka goes to the polls today. The bets are off. If popular belief is anything to go by, the fight might just go down to the wire.

Politics will trump economics on Dalal Street this time around, say analysts. Karnataka, home to India’s Silicon Valley, sets the tone for a series of state elections in the run-up to

Details
Category: Stock Market

Write comment (96 Comments)

KOLKATA: Idea Cellular and Bharti Airtel scrips crashed on Friday on the Bombay Stock Exchange with the Kumar Birla-led telco’s shares plunging below eight-year lows in the aftermath of Reliance Jio unleashing yet another wave of tariff disruption which is likely to cause more financial misery and customer losses to incumbents in FY19.

Sector

Details
Category: Stock Market

Write comment (90 Comments)

Dena Bank Q4 loss widens to Rs 1,225 crore as bad assets soar
State-owned Dena Bank today reported widening of its net loss to Rs 1,225.42 crore in the March quarter on mounting bad loans and higher provisioning to cover them.

The net loss was Rs 575.26 crore in the January-March quarter of 2016-17. Sequentially, the loss widened from Rs 380.07 crore in December of 2017-18.

The bank reported loss on annual

Details
Category: Stock Market

Write comment (96 Comments)

Walmart can invest another $3 billion in Flipkart at the same valuation
BENGALURU: US retail giant Walmart has an option to invest an additional $3 billion in India’s largest online retailer Flipkart at the same valuation within a year of completing the acquisition of 77 per cent stake in the company, according to the company’s regulatory filings with the US market regulator SEC.

The Bentonville-headquartered company

Details
Category: Stock Market

Write comment (90 Comments)

NEW DELHI | MUMBAI: The threat of liquidation hangs over Jaypee Infratech after the Interim Resolution Professional (IRP) told the Supreme Court on Friday that the bankruptcy resolution process at the debt-laden realtor had failed to stitch together a revival plan before the clock ran out.

According to the Insolvency and Bankruptcy Code, 2016, a

Details
Category: Stock Market

Write comment (90 Comments)

Solar Industries Q4 net up 20% at Rs 66 crore
Solar Industries today reported a 20 per cent increase in consolidated net profit at Rs 65.88 crore for the quarter ended March.

The industrial explosives maker had posted a net profit of Rs 54.93 crore in the same quarter last year.

Its total income for the January-March period stood at Rs 575.34 crore, up 30 per cent from Rs 442.10 crore posted

Details
Category: Stock Market

Write comment (91 Comments)

Facebook may launch its own cryptocurrency
After reports surfaced that Facebook is creating a new Blockchain group, fresh media reports have claimed that the social networking giant is also exploring the creation of its own cryptocurrency.

According to the tech website Cheddar, Facebook is "very serious about it".

However, "people familiar with the matter said the social network doesn't

Details
Category: Stock Market

Write comment (91 Comments)

The Institute of Chartered Accountants of India has issued notices to Indian arms of multinational auditing firms including Deloitte, PricewaterhouseCoopers, EY, KPMG, Grant Thornton and BDO, seeking details of corporate structures, investments and revenue.

The body is investigating whether these multinationals, their Indian arms and domestic

Details
Category: Stock Market

Write comment (100 Comments)

NEW DELHI: The twin euphoria of upbeat quarterly results and tame US inflation readings aided the bulls to fire on all cylinders on Friday. Some brisk buying in index heavyweights such as HDFC, HDFC Bank, ITC and Asian Paints gave a solid 290-point lift to BSE Sensex. The index settled at 35,535.79. Nifty index reclaimed the crucial 10,800 level
Details
Category: Stock Market

Write comment (92 Comments)

In our previous weekly note, we had talk about the emergence of the 10,785 mark as not only a likely lower top but also an important resistance area for the Nifty50.

The week gone by saw fierce consolidation and the Nifty face resistance all week at the 10,785 mark. On the last day of the trading week, the Nifty50 attempted to move past this

Details
Category: Stock Market

Write comment (91 Comments)

FedBank Financial receives strategic investment from True North
MUMBAI: The Federal Bank board has approved 26% strategic investment by private equity player True North in its wholly owned subsidiary - FedBank Financial Services (FedFina), a move that will help the company to grow its loans.

The investment will help FedFina augment its capital base primarily to support its growing asset business and to grow

Details
Category: Stock Market

Write comment (98 Comments)

Nifty Realty index settles in the red; Godrej Properties top loser
NEW DELHI: The Nifty Realty index closed Friday's session in the red on losses in Godrej Properties (down 3.79 per cent), HDIL (down 3 per cent) and Indiabulls Real Estate (down 2.04 per cent).

The Nifty Realty index settled 0.50 per cent down at 309.

Oberoi Realty (down 1.41 per cent) and DLF (down 0.75 per cent) too remained among the losers in

Details
Category: Stock Market

Write comment (96 Comments)