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Wall Street rebounds as US manufacturing expands in January
Wall Street main indexes rose 1% on Monday following their worst week in at least four months as Amazon and Nike gained and U.S. factory activity showed a surprise rebound.

ISM data showed the manufacturing sector expanded in January after five straight months of contraction, offering hope that a prolonged slump in business investment has probably

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F O: Change in trend and bear grip likely to keep volumes low
By Chandan Taparia

Nifty started Monday’s session with a marginal loss, but took support of the 161.80 per cent retracement level of the previous up-move from 11,929 to 12,430 level and then started rebounding. The index consolidated in the positive territory for most part of the session and formed a positive candle on the daily chart. At the c

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European shares inch higher on Brexit relief; Coronavirus fears cap gains

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PNB Q3 results preview: Profit may jump up to 4 times
NEW DELHI: Punjab National Bank (PNB) is likely to report over 100 per cent year-on-year rise in profit on Tuesday due to recoveries from NCLT.

Brokerage firm Prabhudas Lilladher projected a 162.10 per cent growth in bottom line at Rs 646.10 crore in Q3FY20. The public sector lender had reported a profit of Rs 246.50 crore in the same period last

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Budget FMCG: Tobacco white goods stocks hit; milk firms, shoemakers benefit
NEW DELHI: Although the Budget had no big-bang announcements for FMCG or consumer sectors, a few proposals could end up being positive for these stocks.

IDBI Capital said the Budget was mildly positive for consumer and retail sector. It raised customs duty on footwear (up 10 per cent) and furniture (5 per cent), which will help the cause of Make

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NPAs of PSBs stands at Rs 7.27 lakh crore
The government on Monday said the Non Performing Assets (NPAs) of Public Sector Banks (PSBs) stood at Rs 7.27 lakh crore as on September 30, 2019.

Union Minister of State for Finance Anurag Thakur also said in Lok Sabha that scheduled commercial banks and select financial institutions have reported frauds to the tune of Rs 1,13,374 crore in the

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RBI Monetary Policy: Key things to know

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Budget stepped on the gas for GAIL, IGL; but no fuel for RIL, ONGC OIL
NEW DELHI: Budget 2020 had a fair dose of measures for the oil - gas sector, including an increase in petroleum subsidies, expansion in gas grid and abolition of anti-dumping duty on PTA (purified terephthalic acid). Analysts see neutral impact on the sector from these announcements.

IIFL Securities said the Budget has raised allocation on LPG

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Share market update: Nifty Energy Index up; BPCL gains 4%
NEW DELHI: The Nifty Energy index was trading higher in Monday's afternoon session.

Shares of Bharat Petroleum Corporation (up 4.11 per cent) , Power Grid Corporation of India (up 1.95 per cent) , NTPC (up 0.96 per cent) , Reliance Industries (up 0.72 per cent) , HPCL (up 0.11 per cent) and Adani Transmissions (up 0.02 per cent) were among the

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Budget: Focus on -lsquo;what is-, not -lsquo;what is not-
By Swarup MohantyIt was the longest Budget speech ever, lasting around 2 hours and 45 minutes. The early reactions to Budget have been focused on what should have been, could have been, what has not been, and how it has belied hopes. I think we should focus on what it actually has been, and how Budget proposals will have a long-term beneficial
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Budget Auto sector: FM offered nothing to put Motown in fast lane
NEW DELHI: Budget 2020 had no direct stimulus for the demand-starved auto sector, but some duty rejig may go on to benefit select auto and auto component players.

Finance Minister Nirmala Sitharaman on Saturday did not announce the much-awaited scrappage policy, even though the government later said the same is ‘in the works’ and will be announced

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Share market update: Mining stocks trade lower; NMDC dips 2%
NEW DELHI: Mining stocks were trading lower in Monday's afternoon session.

Shares of Pokarna (down 5.00 per cent) , Sandur Manganese - Iron Ores (down 4.97 per cent) , Divyashakti Granites (down 4.89 per cent) , Shirpur Gold Refinery (down 4.84 per cent) , Inani Marbles (down 3.95 per cent) , Aro Granite Industries (down 2.67 per cent) , NMDC

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Airtel Q3 results preview: Telco may post loss of up to Rs 781 crore
Mumbai: Broking houses are expecting telecom major Bharti Airtel to report a loss of up to Rs 781 crore for the December quarter. The company may see a healthy subscriber addition for the period.

The telco will report its quarterly numbers on Tuesday.

According to Kotak, Bharti Airtel is likely to post an adjusted loss of Rs 780.8 crore. The

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No more protection! Will new income tax rules break life insurers& back?
Mumbai: Stocks of insurers, life insurers in particular, were hot cakes for investors on Dalal Street till Friday. Finance Minister Nirmala Sitharaman changed that at one stroke in the Union Budget.

The government unveiled a new, optional income-tax regime in Budget, offering lower income-tax rates for not availing any exemption, something that

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Info Edge jumps 7% on acquiring stake in AR Rahman-founded firm
Shares of Info Edge gained 7 per cent in the afternoon trade on Monday after the company said it has acquired stake in Qyuki Digital Media.

The firm in a regulatory filing said it has invested Rs 25.2 crore in Qyuki to acquire 5.36 per cent on a fully converted and diluted basis. Info Edge subscribed to 916,356 Compulsory Convertible Preference

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Recovering from the heavy battering in the previous session on Saturday, the domestic stock market managed to end mildly in the green. NSE Nifty as expected took support at its 200-DMA, which is at 11,655, on Monday. After trading in a broad range, the headline index ended with a modest gain of 46.05 points or 0.39 per cent at 11,707.90.

The

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Dr Lal PathLabs Q3 net profit up 19% to Rs 54.9 crore

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Tax tinkering clouds insurance stocks& earnings outlook
By Abhishek Vishnoi

India’s steps in the budget to end some exemptions given for tax planning and the removal of dividend distribution tax for companies will weigh on the earnings prospects of insurers.

The lower tax rates under the alternative tax slabs will only apply to those forgoing exemptions, which include investments in certain insurance

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Govt is here to support the industry: Sitharaman
Mumbai: The government wants to be a facilitator and is here to support the industry, Finance Minister Nirmala Sitharaman said on Monday.

“We will do things after a lot of consultation,” Sitharaman said while addressing a FICCI event in New Delhi.

While Sitharaman’s commitment to stay on the path of fiscal consolidation in Budget did impress most

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Analysts expect RBI to hike rates in 2020, see FY21 fiscal deficit target challenging
Meeting the fiscal deficit target of 3.5 per cent for FY2020-21 is a challenge, and the possible inflationary impact may also result in the RBI hiking rates in the year, analysts said on Monday. They pointed out that finance minister Nirmala Sitharaman relies a lot on divestments, where the government under-performed in FY2019-20, to achieve the
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Japan stocks track China markets lower as coronavirus spreads
Japanese shares closed lower on Monday, tracking a sharp sell-off in Chinese equities, on rising worries over the economic impact from the coronavirus outbreak in China.

The Nikkei index ended 1.01 per cent lower at 22,971.94, with consumer discretionary and information technology sectors leading declines.

Chinese markets, which were closed since

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Q3 results calendar: Over 700 firms to report earnings this week
NEW DELHI: More than 700 companies are set to declare their financial results this week for the quarter ended December 31. Companies such as Affle India, Bayer Corp, Borosil, Godrej Properties, Hawkin Cookers, Hindustan Motors, MRPL, Shalby, Tata Chemicals and Ujjivan Financial Services will announce their Q3 results on Monday.

Brokerage firm Nirma

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Mumbai: Benchmark equity indices recovered on Monday following a bloodbath in the previous trading session, amid buying in FMCG, auto and private bank stocks.

Investors digested the disappointment surrounding the Union Budget presented by Finance Minister Nirmala Sitharaman on Saturday.

A fall in crude oil prices and an expansion in India's

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China regulator urges fund managers not to sell shares unless they face redemptions - sources
China's securities regulator has urged some mutual fund managers not to sell shares unless they face investor redemptions, four sources told Reuters, as the country's stock markets plunged on Monday amid a growing virus outbreak.

The China Securities Regulatory Commission (CSRC) is giving verbal instructions to major mutual fund companies, asking

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Market Movers: Godrej Prop, HUL, Maruti rise; ITC tanks; 27 stocks flash ‘buy& signals
Shares of Godrej Properties leaped over 8 per cent on Monday after the company reported a 9 per cent jump in December quarter net profit. The gain followed an 8.37 per cent drop on Saturday.

Info Edge was also among the major gainers after the company acquired a 5.36 per cent stake in a firm founded by musician AR Rahman. The stock rose 5 per

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China central bank unexpectedly cuts reverse repo rates to help economy as virus spreads

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Godrej Properties Q3 net profit up 9% at Rs 45 crore
Godrej Properties, real estate development arm of Godrej Group, has reported a 9 per cent year-on-year rise in consolidated net profit at Rs 45 crore for the quarter ended December. Total income for the quarter increased 4 per cent to Rs 491 crore.

The quarter witnessed a 22 per cent drop in total booking value at Rs 1,189 crore and 43.6 per cent

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ITC no longer among top 10 firms after 11% plunge
FMCG and cigarette major ITC fell out of the list of top 10 biggest Indian firms after a sharp drop in share price, which cut its market capitalisation by Rs 34,000 crore in just two sessions.

ITC shares have fallen 11.16 per cent over the last sessions after the government increased taxes on cigarettes. The stock fell 5.09 per cent on Monday to

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Shanghai stocks dive 7.72% on virus, biggest drop since 2015

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This Budget won&t let FM sleep all through FY21. Herewhy
NEW DELHI: Finance Minister Nirmala Sitharaman’s commitment to stay on the path of fiscal consolidation in Budget 2020 did impress most economists and overseas rating agencies, but analysts find her Budget math very chancy, with a real risk that the government would fail to meet many of its ambitious revenue goals.

A deeper look at the Budget

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