StockMarket

After Market: YES Bank, auto stocks plunge; investors lose Rs 2.22 lakh crore
NEW DELHI: Snapping the winning spree of last four consecutive sessions, equity benchmarks Sensex and Nifty settled with deep cuts on Friday.

Union Budget 2019 disappointed the Street as the government did not give any respite on the long-term capital gains tax on equities and equity-oriented mutual funds, while a big surcharge tax on the

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Share market update: 15 stocks hit 52-week highs ahead of Union Budget
NEW DELHI: Around 15 stocks rose to touch their 52-week highs on NSE in Friday's session ahead of Union Budget scheduled to be announced today.

Among the stocks that touched their 52-week highs were ABB India, Bajaj Finserv, Cybertech Systems, HDFC, Indiamart Intermesh and Mandhana Industries.

Power Grid, Refex Industries, Siemens and UPL also

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50% jump in 1 year: Jhunjhunwalapet stock has just been downgraded
Shares of Titan Company traded lower in early trade on Thursday after global brokerage firm Morgan Stanley downgraded the watch-to-jewellery maker to ‘equal-weight’ from ‘overweight’, citing valuation concerns.

The foreign brokerage called the downgrade a valuation call. It said the re-rating of the stock is complete after the recent runup. At 53

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Tech View: Nifty forms Shooting Star on the weekly scale, stares at 50-DMA
NEW DELHI: Nifty50 formed a 'Bearish Engulfing' candle on the daily chart on Friday, and a 'Shooting Star' on the weekly scale, suggesting that a move towards the 12,000 mark is unlikely in the near term.

Any dead-cat bounce on Monday can be an opportunity to consider fresh short positions, as the index appears to be headed to test its 50-day

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Stock market update: IT shares dip ahead of Budget 2019
NEW DELHI: IT shares were trading lower in Friday's morning session ahead of Union Budget scheduled to be announced today.

Shares of Infibeam Avenues (down 1.01 per cent), Wipro (down 0.39 per cent) and NIIT Technologies (down 0.24 per cent) were the top losers in the index.

Tech Mahindra (down 0.23 per cent) Tata Elxsi (down 0.21 per cent) and

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Stock market update: IT shares mixed; HCL Tech down over 1%
NEW DELHI: IT shares were trading on a mixed note in Thursday's morning session.

Shares of Oracle Financial Services Software (up 1.33 per cent), NIIT Technologies (up 0.94 per cent), Infibeam Avenues (up 0.68 per cent) and Infosys (up 0.12 per cent) were trading with gains.

HCL Technologies (down 1.16 per cent), Mindtree (down 0.64 per cent),

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Big tax sops for GIFT City to put bourses on growth path
NEW DELHI: In a bid to develop International Financial Services Centre (IFSC) in GIFT City at par with IFSCs the world over, Finance Minister Nirmala Sitharaman on Friday announced several direct tax incentives, including a 100 per cent profit-linked deduction under Section 80-LA, exemption from dividend distribution tax (DDT), exemptions on
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Eveready climbs 5% as YES Bank acquires 9% stake
NEW DELHI: Shares of Eveready Industries climbed 5 per cent in Friday’s trade, only to erase gains. The scrip climbed as private sector lender Yes Bank acquired over 9 per cent stake in the battery maker by invoking pledged shares following loan default by a group company.

However, soon the stock cut gains to 1.85 per cent. At 9.20 am, the scrip

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Economic Survey 2019 will be out in a few hours: Herewhat to expectEconomic Survey 2019 will be out in a few hours: Herewhat to expectEconomic Survey 2019 will be out in a few hours: Herewhat to expect
Economic Survey 2019 will be out in a few hours: Herewhat to expect
NEW DELHI: Chief Economic Adviser KV Subramanian will unveil the Economic Survey 2019 on Thursday, which is likely to touch upon issues such as rural distress, the current state of banking and NBFC sectors and economic slowdown and stress on the need for boosting private capex, say economists.

It may also dwell on issues like rising unemployment,

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Giving credit where itdue: RBI to provide liquidity support to banks to deal with NBFCs
The budget threw non-banking finance companies (NBFC) a Rs 1 lakh crore lifeline with a promise to stand part guarantee on loans purchased by state-run banks for six months.

Banks can borrow from the RBI by pledging their excess government bond holdings to fund the purchase of NBFC assets.

The RBI has advanced a new mandatory government bond

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Go for the lowest expense ratio to maximise index fund returns
Index schemes of mutual funds are the cheapest among equity products but investors need to watch for costs within the category to decide where to invest. Though returns within the index fund category are almost the same, the total expense ratio – the annual fee that fund houses charge investors – of various schemes are different, making it ess
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Stock market update: Realty shares advance; Oberoi Realty jumps 5%
NEW DELHI: Realty shares were trading with gains in Thursday's morning session.

Shares of Oberoi Realty (up 5.01 per cent), Indiabulls Real Estate (up 2.42 per cent), Prestige Estates Projects (up 2.25 per cent) and Sobha (up 1.94 per cent) were trading higher.

Brigade Enterprises (up 0.80 per cent), Godrej Properties (up 0.42 per cent) and

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New tax going to discourage share buyback, feels market
With a view to discouraging the practice of avoiding dividend distribution tax (DDT) through buyback of shares by listed companies, Union Finance Minister Nirmala Sitharaman on Friday proposed an additional tax of 20 per cent in case of buyback of shares by listed companies.

At present, the same is applicable to unlisted companies. Market experts

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Share market update: PSU Bank shares gain ahead of Union Budget
NEW DELHI: Shares of PSU banks were trading with gains in Friday's morning session ahead of Union Budget scheduled to be announced today.

Shares of Central Bank of India (up 1.20 per cent) , Oriental Bank of Commerce (up 0.42 per cent) , Syndicate Bank (up 0.36 per cent) and Canara Bank (up 0.35 per cent) were the top performers in the index.

Indi

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Buy Sadbhav Engineering, target Rs 311: SBICAP Securities
SBICAP Securities has given a buy recommendation on Sadbhav Engineering with a target price of Rs 311.

Shares of Sadbhav Engineering traded at Rs 243.5 around 9:45 am on 4 July, 2019. The brokerage has set a one-year horizon for the stock to hit the target price.

Investment rationaleThe Sadbhav Group has finally announced the sale of its entire

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Stock market update: BSE PSU index down ahead of Union Budget
NEW DELHI: The BSE PSU index was down ahead of Union Budget in Friday's morning trading session.

Shares of NTPC, ONGC, HPCL, IOC, NMDC, MRPL and BPCL were down upto 3 per cent.

The BSE PSU index was trading 0.78 per cent down at 7831.93 around 10:33 am.

Since the February Interim Budget, actual tax revenues for FY19 have been disappointing and

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Sensex tops 40,000-mark ahead of Budget; Nifty nears 12,000
NEW DELHI: Equity benchmarks Sensex and Nifty logged decent gains in opening deals on Friday ahead of the Union Budget 2019 as all eyes are set on what plans and measures India's Finance Minister Nirmala Sitharaman will announce to boost the economy.

Sensex topped the psychologically significant 40,000-mark in early trade while Nifty touched

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Share market update: Nifty Pharma index up; Piramal Enterprises climbs 3%
NEW DELHI: Pharma shares were trading on a mixed note in Thursday's morning session with their sectoral index trading higher.

Shares of Piramal Enterprises (up 3.41 per cent), Aurobindo Pharma (up 0.65 per cent), Biocon (up 0.28 per cent) and Dr. Reddy's Laboratories (up 0.23 per cent) were the top performers in the index.

Sun Pharmaceutical

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Jet hits 5% lower circuit as SFIO probes on alleged irregularities
NEW DELHI: Jet Airways stock hit its lower circuit limit of 5 per cent in Friday’s trade on reports that the government has ordered an SFIO probe into the affairs of now defunct airline after finding instances of fund diversions and large-scale irregularities, sources told PTI.

According to the sources, the ministry's inspection report had found

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Share market update: Auto shares mixed ahead of budget; TVS Motor up 1%
NEW DELHI: Auto shares were trading on a mixed note in Friday's morning session ahead of Union budget scheduled to be announced today.

Shares of TVS Motor Company (up 0.82 per cent), Eicher Motors (up 0.63 per cent), Bajaj Auto (up 0.53 per cent) and Amara Raja Batteries (up 0.52 per cent) were the top gainers in the index.

Motherson Sumi Systems

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IndiaMART surges 21% on debut to log best listing gains in 2019 so far
NEW DELHI: IndiaMART InterMESH made a strong market debut on Thursday, as the scrip got listed at Rs 1,180 on BSE, a premium of 21.27 per cent over its issue price of Rs 973. This made the company the top mainboard listing so far this year.

The Rs 475-crore IPO, which was sold in Rs 970-973 price band, was subscribed 36.21 times.

The strong

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DHFL drops 3% as NBFC sells prime Mumbai property at discount
NEW DELHI: Shares of DHFL declined 3 per cent in Friday’s trade after the stressed home financier sold one of its crucial commercial properties DHFL House in the Andheri suburb of Mumbai to the promoters of Charak Pharma for Rs 121 crore, way below its current market price.

Following the development, the scrip fell 2.97 per cent to hit a low of Rs

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Share market update: Titan Securities, ABC India among top losers on BSE
NEW DELHI: The domestic equity benchmark BSE Sensex was trading 114.97 points up at 40,023.03 on account of buying in frontline bluechip counters ahead of Union budget scheduled to be announced today.

Shares of Aanchal Ispat (down 15.40 per cent), Panchmahal Steel (down 11.56 per cent), Titan Securities (down 9.64 per cent), ABC India (down 9 per

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Sensex rises 100 points, Nifty nears 11,950 amid firm global cues
NEW DELHI: Benchmark indices opened higher on Thursday, ahead of the Economic Survey, amid firm cues from the global market and falling crude oil prices.

Asian stocks advanced on Thursday, tracking sharp gains on Wall Street as recent data from multiple sectors pointed to slowing economic growth in the United States, bolstering the prospect of

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Buy Strides Pharma Science, target Rs 472: ICICI Securities
ICICI Securities has given a buy recommendation on Strides Pharma Science with a target price of Rs 472.

Shares of Strides Pharma Science traded at Rs 391.15 around 10 am on 5 July, 2019. The brokerage has set a one-year horizon for the stock to hit the target price.

Investment rationale-Warning letter on Puducherry plantPuducherry is a

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Share market update: Quess Corp, Manpasand Beverages among top gainers on BSE
NEW DELHI: The domestic equity benchmark BSE Sensex was trading 115.12 points up at 40,023.18 on account of buying in frontline bluechip counters.

Shares of Velan Hotels (up 18.53 per cent), Shree Ajit Pulp (up 18.03 per cent), Caprihans India (up 17.50 per cent), Bright Brothers (up 15.32 per cent), IRIS Business Services (up 12.19 per cent),

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Investing in mutual funds in the name of a minor child
Many parents want to build a corpus for their child before he turns an adult so that it could come handy for higher education. They often channelise piggy-bank money, small amounts received as gifts on occasions like their birthday, winning a competition, performing well in a sport and so on to mutual funds.

Do mutual funds allow investments in

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GMR Infra surges 5% on asset monetisation initiatives
NEW DELHI: Shares of GMR Infra jumped 5 per cent in Friday’s trade after the company announced the signing of a definitive share purchase agreement with Adani Power for the sale of its entire 47.62 per cent stake in GMR Chhattisgarh Energy, held by its wholly-owned subsidiary GMR Generation Assets.

The stake sale is estimated at Rs 3,000 crore.

Fo

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Buzzing stocks: YES Bank, UPL, SBI, Vodafone Idea, GMR Infra
NEW DELHI: YES Bank with over 0.50 crore shares changing hands was leading among the most traded stocks on NSE on Friday ahead of Union budget scheduled to be announced today.

Shares of GMR Infra (number of shares traded: 0.27 crore), Vodafone Idea (number of shares traded: 0.21 crore), Bank of Baroda (number of shares traded: 0.13 crore), Adani

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By Sydney Maki and Karina Montoya

The JPMorgan emerging-market money manager who outperformed 95 per cent of peers since 2014 follows a three-word mantra: Buy the dip. As the dollar weakens and global central banks turn dovish, that means Leon Eidelman is adding Indian lenders, Chinese insurance companies and Latin American financial technology

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