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Godrej Properties shares rally 8% post Q3 results

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Budget Impact: IDBI Bank, ZEE Learn, CL Educate rally; insurers, AMCs hit
NEW DELHI: Budget 2020 may have largely failed to enthuse stock investors, but it did create a lot of buzz in a host of stock counters and sectors on Saturday.

Let’s have a look at some of them: IDBI Bank: While equity benchmark Sensex slipped 988 points for the day, this stock soared 10.03 per cent to Rs 37.30 after the Finance Minister unveiled

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Tech Mahindra to pick 70% stake in Cerium Systems
New Delhi: IT services major Tech Mahindra on Friday said it will acquire 70 per cent stake in Bengaluru-based Cerium Systems at an enterprise value of up to Rs 245 crore.

The acquisition will boost Tech Mahindra's Engineering Services practice in VLSI (Very Large Scale Integration) and Embedded Software, Tech Mahindra said in a statement.

"We

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Share market update: Fertilizer stocks down; Deepak Fertilizers falls 7%
NEW DELHI: Fertilizer stocks were trading with losses in Monday's afternoon session.

Deepak Fertilizers - Petrochemicals (down 7.31 per cent) , Zuari Agro (down 7.15 per cent) , Rashtriya Chemicals - Fertilizers (down 6.73 per cent) , Gujarat Narmada Valley Fertilizers (down 6.17 per cent) , Fertilizers - Chemicals Tranvancore (down

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Govt budgets for lower dividends from RBI, state banks
By Anirban Nag

India’s government has budgeted for lower dividends from the central bank and state-run lenders in the coming fiscal year, relying instead on an ambitious plan to sell state assets to help finance the fiscal deficit.

For the fiscal year beginning April 1, the government expects to earn 896 billion rupees ($12.6 billion) in dividends

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Falling for a second straight session, NSE Nifty on Friday slipped below the psychologically important 12,000 level and ended 73.70 points or 0.61 per cent lower at 11,962.10.

Union Budget, which is on Saturday, is one of the most important events for capital markets. Given the importance of the event and the volatile moves that the market usually

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TARP-like package for NBFCs, realty booster big misses of Budget 2020
By Motilal OswalThe Union Budget 2020-21 was announced in the backdrop of an unfavourable economic environment, with real GDP growth weakening to sub-5 per cent level. As such, there was high expectation from the Budget to reinvigorate the economy by 1) stimulating investment and 2) boosting personal consumption.

Nevertheless, the fiscal space to

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Market Movers: ITC, DLF crash, Shakti Pump jumps 20%; 144 stocks give ‘sell& signals
On a day when market breadth was heavily tilted in favour of declines, few names stood out. Shakti Pump was among the biggest gainers, jumping 20 per cent after the government announced a plan to help farmers set up 35 lakh pumps.

Insurance, realty and cigarette stocks took the biggest knock. ITC and Godfrey Philips plunged 7 per cent each thanks

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HUL Q3 profit meets Street estimates: Key takeaways
Mumbai: Hindustan Unilever (HUL) posted an in-line 12 per cent year-on-year rise in standalone net profit, but warned demand outlook and market growth may continue to be challenging in the short term.

The country’s largest consumer goods maker posted a profit of Rs 1,616 crore for the December quarter compared with Rs 1,444 crore in the same q

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Castrol reports 28% growth Q3 profit

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Dear FM, never mind the stocks crash; you can&t please everyone all of the time
You can please some of the people all of the time, and you can please all of the people some of the time, but you can’t please all the people all of the time. This is the gist of Union Budget 2020.

The over Rs 3,50,000 crore wealth destruction on BSE on Saturday showed that investors gave a thumbs down to the Budget. The fall of nearly 1,000

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ITI further extends FPO to Feb 5; issue subscribed 58% so far
Mumbai: State-run ITI further extended its follow-on public offer (FPO) to February 5 from Friday, citing bank strike. The issue was subscribed 58 per cent till Friday, data with NSE showed.

Services of public sector banks were impacted as employee unions went on a two-day nationwide strike from Friday to press for wage revision.

“We wish to i

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Edelweiss downgrades ITC to 'hold'

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FM proposes to cut withholding tax to boost listing of bonds at IFSC exchange
With an aim to boost listing of bonds at IFSC exchange, the government has proposed to reduce the withholding tax rate to 4 per cent from 5 per cent on interest payment on bonds listed on its bourse.

The move will attract more international investors at IFSC exchange.

"In order to incentivise listing of bonds at IFSC exchange, I propose to further

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BSE, NSE to open for trading on Saturday for Union Budget 2020
Mumbai: India’s leading stock exchanges NSE and BSE will remain open for trading on Saturday, February 1, as Finance Minister Nirmala Sitharaman presents her second Union Budget.

In 2015, when former Finance Minister Arun Jaitley presented the Budget on a Saturday, February 28, stock exchanges were kept open for trading, to allow market

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Will wait for Monday to see market reaction: Nirmala Sitharaman
Mumbai: Finance Minister Nirmala Sithamraman said she would wait for the stock market reaction on Monday to see the full impact of the Union Budget presented on Saturday.

“I won’t conclude anything out of today’s market reaction. I will wait for Monday to see stock market reaction,” she said in an interview to ET NOW.

In a special trading session

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Cement companies are likely to report incremental demand from rural areas
The allocation of Rs 1.2 lakh crore for rural development and panchayati raj may create incremental source of demand for cement companies in the coming quarters. The allocation comes at a time when the industry is at the cusp of demand turnaround. This is reflected in the year-on-year rise of 3-5 per cent in all India cement prices in the first
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ITC Q3 results: Profit jumps 29% to Rs 4,142 crore, beats Street estimates
ITC on Friday said its gross revenue went up by 5% to Rs 11,912.16 crore for the third quarter ended December 31, compared with the same period last year, which the company attributed to the hotel, agriculture and non-cigarette FMCG businesses. The company’s net profit for the period was up by 29% at Rs 4,141.93 crore beating Street estimates.

The

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LIC may become India's biggest firm; valuation pegged at Rs 8-10 lakh crore
New Delhi: Insurance behemoth LIC is likely to become the country's biggest company by market capitalisation with an estimated valuation of Rs 8-10 lakh crore as market participants expect it to be the "IPO of the decade", akin to the Saudi Aramco listing.

Finance Minister Nirmala Sitharaman on Saturday said LIC will be listed as part of the

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Big Budget Hit! Rs 3.5 lakh crore wealth wiped out in 2.5 hours
Mumbai: Sensex logged its biggest single-day decline in more than three years, as it nosedived nearly 1,000 points in a special trading session on Saturday, as market participants gave a big thumbs down to Finance Minister Nirmala Sitharaman’s Budget for 2020-21.

Investors lost Rs 3.54 lakh crore as total market capitalisation of BSE-listed firms

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Fiscal deficit hits 132 per cent of Budget Estimate till December
NEW DELHI: The government's fiscal deficit touched 132.4 per cent of the full-year target at December-end mainly due to slower pace of revenue collections, official data showed on Friday.

In actual terms, the fiscal deficit or gap between expenditure and revenue was Rs 9,31,725 crore, the data released by the Controller General of Accounts (CGA)

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F O: Refrain from bottom fishing now, as the trend turns negative
By Chandan TapariaNifty opened negative on Saturday but failed to hold its opening recovery and fell sharply towards the 11,633 level on Budget day. It failed to hold the psychologically important 12,000 mark and corrected 300 points, marking its biggest fall since October 5, 2018.

Nifty has been making lower tops and bottoms and formed a big

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Brookfield to invest Rs 1450 crore for 40% in IndoStar

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Will Budget drag or set market on fire on Saturday? History holds cue
NEW DELHI: Union Budget 2020 is just hours away. And if Economic Survey holds any clue, Finance Minister Nirmala Sitharaman is likely to announce a slew of market-friendly measures in the annual document on Saturday.

There are clear indications that the government will announce a few sops to try and revive growth at the expense of a little

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Tech View: As Nifty flirts with 200-day EMA, analysts advise 'sell on rise'
NEW DELHI: Nifty tested its 200-day exponential moving average (EMA) on Saturday, as it cracked below the 11,700 level in a response to disappointing Budget. Analysts said the market trend turned weak and any recovery in the short-term could be sold into.

“There is no sign of trend reversal on the charts. The ongoing correction may continue t

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Wall Street falls on virus concerns, Amazon limits losses
The S-P 500 and the Dow Jones Industrial Average slid on Friday, hit by worries over the impact of the coronavirus epidemic on global growth, while strong earnings from Amazon.com checked losses on the Nasdaq.

Shares of the online retailer surged 9.2% after the company trumped Wall Street's estimates for holiday-quarter results, putting it

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Market Movers: IRCTC, Kotak Bank, SBI, Airtel on a high; HUL, Wipro slip
IRCTC shares hit another lifetime high on Friday, jumping 7 per cent, ahead of Saturday’s Union Budget. Investors rejoiced the settlement between RBI and Kotak Mahindra Bank, and gave the stock a 4 per cent lift. Dragged by RIL, BSE Sensex fell 190 points to 40,723 while Nifty slipped 73 points to 11962.

“Weakness appears to be creeping into the m

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Tax incentives to SWFs for infra investment big positive: Analysts
The infrastructure sector got a boost after Finance Minister Nirmala Sitharaman on Saturday announced incentives for sovereign wealth funds to invest in this space.

In her Budget speech, the Finance Minister proposed 100 per cent tax exemption to SWFs on interest, dividend and capital gains income earned from any investment made in infrastructure

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NSE, BSE to launch RFQ platform for debt securities
New Delhi: The National Stock Exchange (NSE) on Friday said it has received markets regulator Sebi's approval to launch a new electronic platform for debt securities which is aimed at improving liquidity in the segment.

In a statement, the exchange said the platform -- NSE RFQ (request for quote) -- will be launched by Sebi Chairman Ajay Tyagi on

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Vedanta profit rises 49% to Rs 2,348 crore in December quarter
Vedanta Ltd on Friday reported a 49.1 per cent rise in its consolidated profit at Rs 2,348 crore for the December 2019 quarter, on the back of lower expenses.

The company had posted the profit of Rs 1,574 crore in the October-December period of the previous financial year, Vedanta Ltd said in a filing to the BSE.

The profit is "attributable to

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