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Tata Steel buys additional 4.19% stake in Subarnarekha Port
Kolkata: Tata Steel has acquired an additional 4.19% stake to take its total shareholding to 7.06% in Subarnarekha Port Pvt Ltd (SPPL). The steel major had entered into a definitive agreement with Creative Ports Development Pvt Ltd in January 2017 to acquire 51% equity shares in CPPL and develop and operate the port. SPPL, a subsidiary of CPPL is
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OMCs to absorb price hike IOC, HPCL, BPCL tumble
Oil marketing companies such as Hindustan Petroleum Corporation (HPCL), Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) dropped after reports that the government has asked the OMCs to absorb Rs 1 per litre price hike.

Stock of HPCL declined as much as 5.55 per cent to Rs 344.65 while BPCL and IOC were down by over 3 per cent

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ET Intelligence Group: Sanctions imposed by the Trump government on Russia’s largest and world’s second-largest aluminium producer RUSAL will take away over 6 per cent of global supply, and 14 per cent outside China. Since this announcement, LME prices have gained 7 per cent to $2,140 a tonne. Indian aluminium companies such as Hindalco, Nalco and
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Infosys Q4 numbers: 5 things to watch out for in Salil Parekh's first report card
NEW DELHI: The second-largest IT major Infosys is set to unveil its first full quarterly numbers under its new CEO and MD Salil Parekh this Friday.

To be sure, it will be more than just quarterly results. It will be about FY19 guidance, updates on key business verticals, deal wins and the long-term road map from Parekh, the second non-promoter

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Himachal Futuristic jumps 4% on BSNL job order
Himachal Futuristic Communications advanced nearly 4 per cent on Wednesday after the company said it has received an advance purchase order of Rs 579 crore from Bharat Sanchar Nigam Limited (BSNL).

The scrip was up 3.89 per cent at Rs 28.05 on the BSE at 9.40 am. It opened at Rs 27.90 and touched high and low of Rs 28.25 and Rs 27.50,

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Market Now: Vedanta, Hindalco among most traded stocks on NSE
NEW DELHI: Vedanta (number of shares traded: 0.66 crore), Punjab National Bank (0.59 crore) and Hindalco Industries (0.49 crore) were among the most traded stocks on NSE in the early trade on Wednesday.

ONGC (0.39 crore), State Bank of India (0.38 crore), ICICI Bank (0.33 crore), Axis Bank (0.30 crore), SAIL (0.25 crore), JSW Steel (0.24 crore),

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Unchecked personal ambitions ailing private lenders: Gautam Chhugani, Bernstein
Gautam Chhugani, who was recently in the news for being the lone bear on ICICI Bank stock, has said that “juicy” fee income charged for the loans offered have been ailing Indian lenders.

India has a distinct corporate landscape with promoter/owner managed organisations, as the lending practices in corporate banks have been based on relationships,

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Market Now: Private bank stocks in sync with PSU peers; ICICI Bank, Axis Bank fall 2%
NEW DELHI: In line with PSU bank stocks, most of the private bank stocks were also declining in Wednesday's trade.

The Nifty Private Bank was trading 0.75 per cent down at 14,156 around 10:35 am (IST) with ICICI Bank (down 1.73 per cent) and Axis Bank (down 1.62 per cent) falling almost 2 per cent.

Shares of South Indian Bank (down 1.56 per cent),

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ETMarkets Morning Podcast: Your daily digest of market news
Good morning, welcome to ETMarkets Morning Podcast!

Smart gains on Wall Street in overnight trade and firm Asian shares have created a positive trade setup for the Indian market. But a Doji on Nifty technical charts signals indecisiveness among traders.

That’s where we start the day on Dalal Street, ladies and gentlemen. This is Prachi Sharma, y

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F O: Buying absent at higher level; VIX moves up by 1.52%
By Chandan TapariaThe Nifty50 index formed a Hammer candle on Wednesday, as it fell to 10,355 and then recovered to close above 10,400. It engulfed the trading range of last session but witnessed buying interest from lower levels.

Price patterns indicated absence of buying at higher levels while every decline is being bought into. This suggests a

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Mahanagar Gas drops 4% on block deal
NEW DELHI: Shares of Mahanagar Gas fell nearly 4 per cent in Wednesday's trade following a block deal on the counter.

Following the development, the stock declined 3.77 per cent to hit a low of Rs 908.90 on BSE.

A total of 4.76 lakh shares changed hands on the counter, which was 22 times its daily average turnover of 22 thousand shares in last two

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Axis Bank rallies on Shikha Sharma's shortened term; here's what analysts are saying
Axis Bank rallied over 5 per cent on Tuesday after the private sector lender on Monday announced that its CEO Shikha Sharma will step down at December end. The announcement came days after the RBI was reported to have expressed concerns about the lender giving her a three-year extension.

The scrip closed at Rs 5.43 per cent up at Rs 546 against

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Tech view: Nifty forms Hanging Man pattern; loses some steam
NEW DELHI: The Nifty50 struggled around the 10,430 level on Wednesday and ended up forming a Hanging Man pattern on the daily chart. This signalled loss of positive momentum in the market.

Levels around the 10,430-10,440 range is where 50-day moving average (DMA) and 100-DMA for the index lie. A decisive breakout above this range is a must for Nift

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Market Now: PSU bank stocks fall; PNB top loser
NEW DELHI: Most of the PSU bank stocks were trading in the negative territory after reports emerged that the finance ministry is soon expected to take stock from state-run lenders on fraud in cases of bad loans and the measures taken to prevent them.

A meeting will be soon convened to check progress of the public-sector banks on implementing

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Hi there! You are listening to ETMarkets Evening Podcast.

This is Abhinav Kaul and I will bring you today's wrap-up of stock trading and what seasoned analysts have to say.

Stocks had a good day in office after Chinese President signalled opening up the world's second-largest economy more by lifting foreign ownership restrictions. This boosted

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The bulls continued to make their presence felt on Dalal Street amid volatile trade for the fifth session on Wednesday as buying emerged in select IT, energy and FMCG stocks.

Market participants looked cautious ahead of corporate earnings that start later in the week, rising crude oil prices and macro data due on Thursday.

The BSE Sensex closed

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Buy Indian Metals Ferro Alloys, target Rs 733: Edelweiss Broking
Edelweiss Broking has a buy call on Indian Metals - Ferro Alloys with a target price of Rs 733.

The current market price of Indian Metals - Ferro Alloys is Rs 556.50.

Time period given by the brokerage is 'Long Term' when Indian Metals - Ferro Alloys price can reach the defined target.

"Indian Metals - Ferro Alloys (IMFA) is the

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By Javier BlasSaudi Arabia wants to get oil prices near $80 a barrel to pay for the government’s crowded policy agenda and support the valuation of state energy giant Aramco before an initial public offering.

In conversations with OPEC delegates and oil market participants, Saudi officials had been careful to avoid pinpointing an exact price

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Sensex, Nifty rise for fifth day; IT, metal stocks shine
NEW DELHI: Extending gains for a fifth straight session, key equity indices Nifty50 and Sensex closed Wednesday's session in the positive zone, backed by gains in IT, metal and auto stocks amid mixed Asian cues.

However, losses in bank and oil - gas stocks capped the gains.

The Nifty50 settled 15 points, or 0.14 per cent, up at 10,417, while

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1,400% return in 5 years! And this stock still has miles to go
This company with a diversified auto ancillary portfolio has been quietly creating wealth for investors for some time now.

Take this: An investment of just Rs 10,000 in Rane Holdings on April 1, 2013 would have become over Rs 1,50,000 today.

Both fundamental and technical analysts believe the ongoing momentum on the stock has a lot of steam left.

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Sebi issues framework to club investment limits of foreign govt, related entities
Markets regulator Sebi today said two or more foreign government and its related entities from the same jurisdiction will be considered a single FPI for the investment cap of 10 per cent in a listed Indian company.

The move comes as various stakeholders have been seeking guidance on clubbing of investment limits to be applied to foreign government

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ICRA downgrades credit ratings of Fortis Healthcare, subsidiaries
NEW DELHI: Ratings agency ICRA has downgraded Fortis Healthcare and its subsidiaries Escorts Heart Institute and Research Centre, Fortis Hospitals and Hiranandani Healthcare, citing stretched liquidity position of the company which led to delay in servicing of a loan.

The long term rating of Fortis Healthcare Ltd (FHL) for Rs 250 crore

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This missing piece may foil hopes for faster US growth
Robust US investment is fanning hopes that stronger growth in productivity — the missing piece in the country’s slow-footed economic expansion — may finally be showing up. Such enthusiasm may be premature. As Federal Reserve Chairman Jerome Powell outlined in a speech last week, while higher investment is good, there’s a lot more that goes into b
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Fitch downgrades PNB's viability rating to 'bb-'
Fitch Ratings on Tuesday downgraded the Viability Rating of the Punjab National Bank (PNB) to 'bb-' from 'bb' and maintained the rating on Rating Watch Negative (RWN) following a multi-crore fraud involving diamond trader Nirav Modi.

According to a Fitch statement, PNB's other ratings were unaffected by this downgrade but it expressed doubts

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Dear RBI, you do not lack power to clean up banks, you lack the will: Damodaran
NEW DELHI: Governor Urjit Patel may have gone to town complaining about RBI's perceived lack of power over public banks, but former Sebi chief M Damodaran is not impressed.

Powers are often what you exercise, notwithstanding what the statute provides, he told ET Now.

"I was both surprised and saddened by that statement," Damodaran said, noting

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Market Now: Axis Bank, HDFC among most active stocks in terms of value
NEW DELHI: Vedanta (Rs 212.86 crore), Axis Bank (Rs 196.64 crore), Tata Steel (Rs 152.53 crore), Hindalco Industries (Rs 135.36 crore) and HDFC (Rs 117.69 crore) were among the most active stocks in terms of value on NSE in morning trade on Wednesday.

State Bank of India (Rs 113.84 crore), ICICI Bank (Rs 111.43 crore), BPCL (Rs 105.07 crore), Relia

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NEW DELHI: Chinese President Xi Jinping's pledge to open up the country’s economy further and lower import tariffs on products brought cheers to global financial markets, including India. His speech gave a much-needed relief to the investors fretting over an impending trade war between the US and China.

The bulls on Dalal Street retained their

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Trade wars aren&t only ones to worry about: Ray Dalio
Ray Dalio, founder and co-chief investment officer of Bridgewater Associates, the world’s largest hedge fund, has doubled down on his warnings against trade wars brought on by President Donald Trump’s divisive rhetoric.

“Recent geopolitical developments have led me to raise my probabilities of trade and other types of wars, such as capital wars, c

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Why bitcoin often behaves like flu
By Eric Lam

Is the rise of Bitcoin analogous to the spread of an infectious disease

Analysts at Barclays Plc saw enough similarities to develop a pricing model for the cryptocurrency that takes its cues from the world of epidemiology. Their diagnosis: Bitcoin has probably peaked.

The Barclays model divides the pool of potential Bitcoin investors

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Tech view: Nifty50 forms Doji candle, upside looks capped
NEW DELHI: The Nifty50 on Tuesday advanced for the fourth consecutive session and formed an indecisive 'Doji' candle on the daily chart.

Analysts said the upside for the index looks limited in the short term and it may be time investors should start considering profit taking before the tide turns.

Tuesday's narrow trading range did not depict the

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