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UBS cuts target price of NBFCs by up to 65% on growth, NPA concerns
Mumbai: Foreign brokerage UBS has slashed target prices of nonbanking finance majors by 11-65 per cent on slow loan growth and an increase in non-performing loans for all product segments. The brokerage has downgraded Bajaj Finance to ‘sell’ from ‘neutral’ and slashed target price on it to ₹1,600 from ₹4,600 as it believes that risks for further de
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HDFC AMC pays Rs 4.2 crore to market regulator Sebi to settle Essel Group case
MUMBAI: HDFC Mutual Fund and its top management have paid Rs 4.2 crore to the market regulator Sebi to settle the case of the fund’s investments in the debt instruments of Essel Group, which faced a payment crisis last year.

“The HDFC AMC had invested on behalf of the mutual fund in the debt instruments of Essel group of companies…It is alleged t

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Religare Broking sees 50% upswing in online trading during lockdown
NEW DELHI: Religare Broking, the arm of financial services group Religare Enterprises, on Tuesday said it has witnessed a whopping 50 per cent upswing in trading volumes from online platforms during the nationwide lockdown.

The company's trading volumes have shot up, especially on its mobile app— Religare Dynami — driven by a significant b

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Buy Dr Reddy's Labs, target price Rs 4,426: Nomura
Nomura has retained buy rating on Dr Reddy's Laboratories and raised target price to Rs 4,426 from Rs 3,684. The stock ended up 4.5 per cent at Rs 4,015.55 on Tuesday while the BSE Sensex closed 1011.29 points down (-3.20 per cent) at 30,636.71.

Dr. Reddy's Laboratories Ltd., incorporated in 1984, has a market cap of Rs 66727.23 crore.

Investment

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Den Networks reports Q4 PAT of Rs 22.52 crore
New Delhi: Cable and distribution and broadband service provider Den Networks on Tuesday reported a consolidated profit after tax of Rs 22.52 crore in the fourth quarter ended March 31.

The company had posted a consolidated net loss of Rs 212.82 crore in the corresponding period of previous fiscal.

Revenue from operations in the fourth quarter

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Dow Jones falls as US crude collapse worsens pandemic woes
Wall Street retreated for a second straight day on Tuesday as a collapse in US crude prices and glum annual forecasts by companies foreshadowed the biggest economic slump since the Great Depression due to the coronavirus outbreak.

All the major S-P 500 sub-sectors fell more than 2 per cent, with the energy index sliding for the seventh time in

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Buy Kotak Mahindra Bank, target price Rs 1,561: Goldman Sachs
Goldman Sachs has a buy rating on Kotak Mahindra Bank with a target price of Rs 1,561 after the bank announced a board meeting on April 22 to consider equity capital raising. The stock ended down 4 per cent at Rs 1,130.45 on Tuesday while the BSE Sensex closed 1011.29 points down (-3.20 per cent) at 30,636.71.

Kotak Mahindra Bank Ltd.,

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Sebi extends compliance timelines for trading, clearing members

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ACC Q1 net drops 6.6%; lockdown severely impacts ops: Key takeaways
Mumbai: Cement manufacturer ACC reported a 6.64 per cent decline in its consolidated net profit for the March quarter on Tuesday, but still beat Street estimates.

While the company acknowledged that its operations have been severely impacted amid the nationwide lockdown, it expects demand to increase in the medium term once the coronavirus

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Buy SBI Cards, target price Rs 680: BoA

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Sebi extends validity of observations on public, rights issues by six months
Mumbai: The Securities and Exchange Board of India (Sebi) on Tuesday extended the validity of its observations on all public and rights issues by six months. It also eased fast-track rights issues and reduced the threshold for minimum subscription requirements for a rights issue from the existing 90% to 75% of the offer size.

The regulator said

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Concrete manufacturer ACC on Tuesday reported a 6.64 percent year-on-year (YoY) decline in consolidated income for the March quarter at Rs 323.02 crore compared with Rs 346.02 crore in the extremely same quarter in 2014. Specialists in an ET NOW study had in fact forecasted the number at Rs 264 crore. The company reported total profits from operations at Rs 3,501.71 crore in
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Midcap rout fails to keep FPIs away from these five stocks
Mumbai: The outlook for mid- and small-cap stocks appears bleak as these companies are likely to take a bigger hit than their bigger peers in the current downturn. While investors have mostly focused on buying blue-chips in the recent fall, some foreign funds looked at mid-cap stocks since April 1. Here are five smaller companies in which overseas
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Ahead of the Market: 12 things that will decide stock action on Wednesday
NEW DELHI: A historic collapse in US crude oil prices to below zero level in overnight trade resulted in a knee-jerk reaction in equities the world over and domestic equities too plunged in tandem.

Sensex lost 1011.29 points to 30,636, wiping off some Rs 3.3. lakh crore in equity investor wealth, while the 50-share Nifty settled 280 points lower

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Investor wealth drops Rs 3.30 lakh crore as equity markets tank
New Delhi: Investor wealth on Tuesday fell by Rs 3,30,408.87 crore after equity markets came under heavy selling pressure following sell-off in global stocks as rout in crude oil hit investor sentiment.

The Sensex tumbled 1,011.29 points, or 3.20 per cent, to close at 30,636.71.

Led by the sharp fall in the index, the market capitalisation of the

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India eases fundraising rules for companies as coronavirus hurts deals
MUMBAI: India’s market regulator on Tuesday temporarily eased some fund-raising regulations for listed entities to give them easier and faster access to capital markets amid the ongoing coronavirus pandemic which has greatly reduced deal activity.

To allow more companies avail fast-track rights issuances, the Securities and Exchange Board of India

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The residential equity market refused to leave the location pattern as well as shown bearish tendencies on the anticipated lines on Tuesday, as the benchmark indices ended with deep cuts. We can condemn the overnight weak international trade configuration, the interior technological structure stayed relatively weak as defined in our previous notes. The market saw a.The domestic equity market declined to abandon the area pattern as well as displayed bearish tendencies on the expected lines on Tuesday, as the benchmark indices ended with deep cuts. Although we can criticize the over night weak global occupation configuration, the interior technological structure stayed quite weak as defined in our previous notes. The marketplace saw a gap-down opening in addition to turned more anxious as the day continued. Awesome significant its intraday reduced in the afternoon. Nevertheless, some recovery was seen from the decreased, as that level was safeguarded for the remainder of the day. The heading index finished with a loss of 280.40 points, or 3.03 percent. Volatility surged on the expected lines, creating the India Volatility Index, India VIX, to increase 4.01 percent to 45.1975. Nifty stays within the Climbing Wedge, and likewise is likely to examine the lower pattern line, which is increasing in nature, in the coming days. On the greater side, any up-move will experience resistance near the upper limit of the wedge. Unless the existing location pattern is solved, we will see the trading variety of the marketplace get narrower in the coming days. Nifty is probably to see a stable begin on Wednesday. The 9,045 as well as 9,110 levels are most likely to work as key resistance, while supports will definitely can be found in at 8,910 as well as 8,830 degrees. ET CONTRIBUTORSThe Loved One Stamina Index, or RSI, on the daily chart stood at 46.33; it stays neutral and likewise shows no aberration against the rate. The everyday MACD continues to be bullish as it trades above the signal line. A Falling Home window pattern took place on the candle lights. This is a gap, yet because such a space has happened within a location formation/pattern, it holds very little relevance. Pattern analysis makes it obvious that Nifty has really stayed in the location pattern. The index has actually currently developed a wedge. Such location patterns normally happen after a sharp bearishness rally and typically have bearish ramifications. In conclusion, Great continues to stay in a precarious position. Some moderate up-moves are likely to Wednesday. In case of such as up-move, it would be reasonable to utilize these relocations to protect earnings on existing positions. It would certainly not be important to pursue any sort of motion on the benefit, nevertheless remain extremely careful along with defensive while strategy the marketplace. A mindful overview is advised for the day.(Milan Vaishnav, CMT, MSTA, is a Consulting Technical Specialist and likewise creator of Gems Equity Research Study -& Advisory Providers, Vadodara. He can be gotten to at This email address is being protected from spambots. You need JavaScript enabled to view it.)
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Share market update: Shriram Transport, Motherson Sumi among top losers on BSE

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Stocks in the news: Reliance Ind, MCX, ICICI Bank, ACC and Vodafone Idea
Nifty futures on the Singapore Exchange traded 7 points or 0.08 per cent higher at 8,896.50, indicating a flat start for Dalal Street. Here are a few stocks which may buzz the most in Wednesday's trade:

Reliance Industries:Facebook announced an investment of $5.7 billion (Rs 43,574 crore) for acquiring a minority stake in Jio Platforms Ltd as it

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Loan moratorium may restrain banks from proactive recovery: Moody&s
The loan moratorium that India, China and other countries have implemented amid the Covid-19 crisis will give borrowers temporary relief, but will restrain banks from taking proactive recovery action and could widen their credit losses once the directive is withdrawn, according to Moody’s Investors Service.

In a report on the Asia Pacific region,

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Share market update: Aurobindo Pharma, UCO Bank among top gainers on BSE

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Facebook invests $5.7 billion in India's Reliance Jio
Reliance Industries, Jio Platforms and Facebook on Wednesday announced the signing of binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms. The investment valued Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value ($65.95 billion, assuming a conversion rate of Rs 70 to the US dollar), said a statement
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Mumbai: Yet again, YES Bank sold its holding in Reliance Naval and was the striking bulk deal in Tuesday’s trade.

For the day, the 30-share Sensex closed 3.20 per cent or 1,011.29 points lower at 30,636.71, while the 50-share Nifty shed 3.03 per cent or 280.40 points to close at 8,981.45.

The meltdown eroded Rs 3.34 lakh crore of investor wealth

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Trending stocks: Bandhan Bank share price slumps over 6%
NEW DELHI: Shares of Bandhan Bank traded 6.48 per cent down in Tuesday 's trade at 11:03AM (IST). Around 4391459 shares changed hands on the counter. The stock opened at Rs 205.5 and touched an intraday high and low of Rs 207.4 and Rs 200.0 , respectively, in the session so far.

The stock quoted a 52-week high of Rs 642.0 and a 52-week low of Rs

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Analyst Calls: SBI Cards, Kotak Bank, Dr Reddy's Labs
Good morning!

The domestic stock market on Wednesday showed early signs of a possible breakout from its consolidation range. And Nifty futures on Singapore traded 10.50 points higher this morning, signalling a good start for Dalal Street.

Bank of America Securities has initiated coverage on SBI Cards with a buy rating and target price of ₹680. SBI

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HDFC cuts RPLR by 15 basis points

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2 ‘super-contagious& viruses that Buffett warned of in 1986 are at play on D-Street
NEW DELHI: Covid-19 might be wreaking havoc globally, but on Dalal Street, two other ‘super-contagious’ diseases are at play.

Legendary investor Warren Buffett wrote about them briefly in his 1986 annual letter to Hathaway shareholders.

“The timing of these epidemics will be unpredictable. And market aberrations produced by them will be equally u

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Wall Street tumbles as oil crash stirs pandemic fears
Wall Street tumbled for a second straight day on Tuesday as a collapse in U.S. oil prices and glum forecasts by companies worsened fears of a deep economic downturn.

All 11 S-P 500 sector indexes fell 1.6% or more, with energy sliding for the seventh time in eight sessions a day after the WTI contract crashed below zero as oil traders ran out

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Manappuram Finance: Sebi disposes of insider trading charges against Kotak Mahindra Life Insurance
NEW DELHI: Markets regulator Sebi on Tuesday disposed of insider trading charges against Kotak Mahindra Life Insurance Company in the matter of Manappuram Finance.

It was alleged that Kotak Mahindra Life Insurance Company (earlier known as Kotak Mahindra Old Mutual Life Insurance) sold shares of Manappuram Finance Ltd (MFL) while in possession of

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Trending stocks: ICICI Prudential share price down over 4%
NEW DELHI: Shares of ICICI Prudential Life Insurance Company Ltd. traded 4.32 per cent down in Tuesday 's trade at 10:54AM (IST).

Around 942063 shares changed hands on the counter. The stock opened at Rs 369.35 and touched an intraday high and low of Rs 369.35 and Rs 359.1 , respectively, in the session so far.

The stock quoted a 52-week high of

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