StockMarket

Buy SpiceJet, target Rs 179: Edelweiss Securities
Edelweiss Securities has given a buy recommendation on SpiceJet with a target price of Rs 179.

Shares of SpiceJet traded at Rs 128.5 around 2:20 pm on 26 June, 2019. The brokerage has set a one-year horizon for the stock to hit the target price.

"We maintain ‘buy/sector outperformer’ with a target price of Rs 179 per share (8 times FY21E EV/

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MUMBAI: Nalanda Capital is exiting Mindtree, having tendered its entire 10.6 per cent stake in the open offer by Larsen - Toubro on Monday, said sources aware of the development. Nalanda founder Pulok Prasad had opposed the takeover and held out against it for months. The fund will make a four-fold return on its investment if it sells all its
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Value and growth are on the opposing ends of the investment spectrum, and the first set of ideas usually weighs heavily on the other when cost of money is rather benign.

So, conventional wisdom would suggest ‘value’ stocks outshine ‘growth’ in the current global environment, where central banks are driving down rates to fuel consumption.

But

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Share market update: Cement stocks trade higher; Deccan Cements rises 4%
NEW DELHI: Cement stocks were trading with gains in Wednesday's afternoon session.

Shares of Deccan Cements (up 4.35 per cent), Century Textiles - Industries (up 3.57 per cent), IFGL Refractories (up 3.06 per cent), APCL (up 3.05 per cent), Kakatiya Cements Sugar - Industries (up 3.04 per cent), India Cements (up 3.03 per cent), Saurashtra

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Budget fails to excite a street with other worries
Mumbai: The Union Budget has been a source of excitement for Dalal Street historically, but this time around investor sentiment is muted. Heightened uncertainties in the wake of the NBFC crisis and its impact on the economy have kept a lid on the euphoria ahead of the event in July.

The optimism around the Bharatiya Janata Party-led coalition’s d

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Nifty Infra index to show relative outperformance
(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.economictimes.com.)
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Reduce Bharat Heavy Electricals, target Rs 60: Edelweiss Securities
Edelweiss Securities has given a reduce recommendation on Bharat Heavy Electricals (BHEL) with a target price of Rs 60.

Shares of BHEL traded at Rs 74.8 around 1:50 pm on 26 June, 2019. The brokerage has set a one-year horizon for the stock to hit the target price.

"We are downgrading BHEL to ‘reduce/sector performer’ (from ‘buy/sector outpe

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Early exit of Acharya from RBI not to roil markets: SBI report
New Delhi: The early exit of RBI Deputy Governor Viral Acharya was not surprising and will not roil the markets, the country's largest bank SBI said in a research report.

Acharya, who in October last year had brought to light tensions with the government over independence of the central bank, resigned six months before the scheduled end of his

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Stock market update: Realty shares down; Sunteck Realty dips 2%
NEW DELHI: Realty shares were trading in the negative zone in Monday's morning session.

Shares of Sunteck Realty (down 2.65 per cent), Oberoi Realty (down 2.29 per cent) and Prestige Estates Projects (down 1.26 per cent) were trading lower.

DLF (down 0.48 per cent), Phoenix Mills (down 0.39 per cent) and Godrej Properties (down 0.04 per cent) too

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European stocks fall after Fed cools mood
European shares fell for the fourth straight session on Wednesday, as bets on an aggressive half-point cut in US interest rates next month collapsed following a more measured than expected message from Federal Reserve officials.

Fed Chair Jerome Powell said on Tuesday the central bank is "insulated from short-term political pressures", pushing

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Wall Street edges higher as tech offsets healthcare loss
US stocks posted slight gains on Monday, as technology stocks more than offset a decline in healthcare sector, while investors awaited a high-stakes meeting between U.S. and Chinese leaders at the G20 summit later this week.

The S-P 500 index hit a record high last week, boosted by rising expectations that the Federal Reserve would cut

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UltraTech, BoB, SBI among 9 stocks that analysts say can deliver gains in 2-3 weeks
NEW DELHI: After opening some 100 points higher, domestic equity benchmark Sensex slipped into the negative territory within the first hour of trade on Monday.

A surge in crude oil prices on worries over heightened tensions between the US and Iran, subdued rupee and uncertainty ahead of the Union Budget made investors to turn risk averse. The

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Mumbai: Positive commentary by leading brokerages Credit Suisse and Nomura helped shares of pharma major Lupin end up nearly 3 per cent at Rs 732.95 on Monday.

Credit Suisse upgraded the stock to ‘outperform’ from ‘underperform’ and raised the target price to Rs 860 from Rs 800. The brokerage said its concerns on specialty drug Solosec have played

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June rate cut last straw in Viral Acharya's strained ties with Shaktikanta Das?
Deputy governor Viral Acharya and his boss Shaktikanta Das seemed to be on completely different pages on the fiscal deficit front, with the departing technocrat flagging it as a concern and the governor underlining his optimism on the same, show the minutes of the last policy meeting.

While the career bureaucrat-turned-central banker Das was

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Share market update: Nifty Pharma index down; Glenmark Pharma slumps 6%
NEW DELHI: Pharma shares were trading lower in Monday's morning session with their sectoral index trading lower.

Shares of Glenmark Pharmaceuticals (down 6.34 per cent), Aurobindo Pharma (down 2.53 per cent), Dr. Reddy's Laboratories (down 1.25 per cent) and Sun Pharmaceutical Industries (down 0.80 per cent) were the top losers in the index. Cipla

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Mumbai: The promoters of consumer goods firm Emami have sold 10 per cent of their equity holdings in the company on Monday for Rs 1,230 crore to pare debt. This stake sale, which will bring down promoters’ holding in the Kolkata-based company to 52.74 per cent, is the second by them in 2019 as lenders, mainly mutual funds, have been nudging them
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In a rangebound session on Monday, the domestic stock market headed nowhere and spent the day oscillating in a limited range. NSE Nifty finally ended with a loss of 24.45 points or 0.21 per cent.

From a technical perspective, Nifty has managed to hold above its support of 50-DMA on a closing basis. This level stands at 11,689, and the index’s b

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Scandal-hit Nomura wins shareholder approval for re-appointment of CEO
nomura: Scandal-hit Nomura wins shareholder approval for re-appointment of CEO - The TheIndianSubcontinent

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Dollar falls with yields as more Fed talk awaited
SYDNEY: Asian stocks were left adrift on Tuesday as expectations of more dovish talk from the Federal Reserve pushed down Treasury yields and the dollar, while lifting gold to six-year peaks.

Equity investors are waiting to see if anything will come of Sino-US trade talks later this week.

US President Donald Trump is slated to meet one-on-one with

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By Lionel Laurent

Apparently, Mark Zuckerberg has helped Bitcoin to surge past $10,000 again, a price it first surpassed in 2017 as part of an epic speculative bubble that popped not long after.

Last week, the Facebook Inc. co-founder unveiled his social network’s cryptocurrency, Libra, a corporate version of Bitcoin that embraces regulation and is

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Asian stocks tick up, oil rises amid US-Iran tensions
TOKYO: Asian shares edged up on Monday as investors pinned their hopes on any signs of a thaw in Sino-US trade negotiations, while oil prices firmed on heightened tensions between the United States and Iran.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent, hovering not far from Thursday's six-week high, while Japan's

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MUMBAI: A lobby group representing global banks and asset managers, such as Blackrock, Amundi, BNY Mellon and Capital Group, has written to the Securities and Exchange Board of India opposing the HR Khan committee recommendation that would give the capital markets regulator more inspection powers. The panel, in its report, proposed that Sebi should
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RITES announces 1:4 bonus share issue
Railway consultancy firm RITES said Monday it will issue bonus shares to its shareholders. In a statement, RITES said it will issue one bonus share for every four shares held by its existing shareholders.

"Bonus issue is part of the shareholder-friendly policies that our company has consistently pursued and this will also help us align the equity

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China, HK stocks subdued as investors brace for trade talks
SHANGHAI: China and Hong Kong stocks held steady on Monday, as investors pinned their hopes for any signs of thaw in the Sino-US trade negotiations at the G20 summit later this week.

The CSI 300 index was unchanged at 3,834.45 points at the end of the morning session, while the Shanghai Composite Index lost 0.1 per cent to 2,999.30 points.

The

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Mumbai: Larsen - Toubro (L-T) has bagged a turnkey contract for building a power generation project worth over Rs 7,000 crore after a dry spell of three years.

The company will do engineering, procurement and construction (EPC) for the 1,320 mw ultrasupercritical power plant in Buxar district in Bihar, for SJVN Thermal Private. This order,

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Jalan panel on RBI's capital size again defers report submission till Budget
The Bimal Jalan committee, which is looking into the size of capital reserves that the RBI should hold, Monday again deferred its report submission deadline till Budget next month. The six-member panel, under former RBI governor Jalan, was appointed on December 26, 2018, to review the Economic Capital Framework (ECF) for the Reserve Bank after the
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Stock market update: IT shares mixed; Tech Mahindra down 1%
NEW DELHI: IT shares were trading on a mixed note in Monday's morning session.

Shares of Oracle Financial Services Software (up 0.91 per cent), Wipro (up 0.51 per cent) and Tata Consultancy Services (up 0.36 per cent) were the top performers in the index.

Tech Mahindra (down 1.26 per cent), Mindtree (down 1.11 per cent), Tata Elxsi (down 0.36 per

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BNP Paribas to sell 2.5 crore shares of SBI Life in OFS
Mumbai: BNP Paribas Cardif is planning to sell 2.5 crore shares of SBI Life Insurance through the offer for sale (OFS) route on Tuesday and Wednesday. The sale price of the OFS shares has been fixed at Rs 650 apiece, a 8.5 per cent discount to Monday’s closing. Through the OFS, BNP will raise about Rs 1,775 crore. The offer will open on June 25 f
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Budget should have nuance and bold moves
By Arun KumarChairman and CEO, KPMG IndiaThe overwhelming electoral mandate given to Prime Minister Modi provides the government with an unprecedented opportunity to frame a budget that will take the country to the next level of growth, while addressing the concerns of the poor and the underprivileged. Given the global scenario and the economy’s f
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Broking stocks drop up to 12% as Sebi bars pledging of clients& shares
NEW DELHI: Shares of most stocks broking companies slipped in Monday's morning session after with the market regulator barred them from pledging clients’ shares to raise funds.

Shares of Vertex Securities (down 12.66 per cent), Prime Securities (down 3.20 per cent), Stampede Capital (down 3 per cent), LKP Securities (down 2.06 per cent), Aditya

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