StockMarket

Institutional investors put in Rs 8,000-cr bids for SUUTI stake in Axis Bank
NEW DELHI: The government's share sale in Axis Bank held through SUUTI witnessed a blockbuster start with institutional investors putting in bids worth over Rs 8,000 crore by lapping up 2.56 times the shares reserved for them on the first day of the offer for sale (OFS).

Institutional investors bid for over 11.69 crore shares, 2.56 times the 4.56

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By Eric Lam

Japan’s shut, most other Asian equity markets aren’t doing much, and you can read about the big exception -- China -- here.

So we’re going to use this opportunity to talk about India, where an unpredictable election looms. Even before the ballot takes place, a host of worries is raising questions about whether the country’s benchmark st

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Share market update: Telecom shares slip; GTL Infra down 4%
NEW DELHI: Telecom shares were trading lower in Monday's afternoon session.

Shares of GTL Infrastructure (down 4.35 per cent) , Tejas Networks (down 2.38 per cent) , GTL (down 2.22 per cent) and Himachal Futuristic Communications (down 2.03 per cent) were the worst performers in the index.

Tata Communications (down 1.93 per cent) , Sterlite

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IHCL reports Q3 PAT of Rs 170 crore
NEW DELHI: Tata Group hospitality firm Indian Hotels Company on Tuesday reported a 51 per cent rise in its consolidated net profit to Rs 170.03 crore for the quarter ended December.

The company had posted a net profit of Rs 112.61 crore for the corresponding period previous fiscal, Indian Hotels Company Ltd (IHCL) said in a BSE filing.

Consolidated

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Buy Mahindra Mahindra, target Rs 835: Reliance Securities
Reliance Securities has a buy call on Mahindra - Mahindra with a target price of Rs 835.

The current market price of Mahindra - Mahindra is Rs 659.35.

Time period given by the brokerage is one year when Mahindra - Mahindra price can reach the defined target.

Investment rationale by the brokerage-New launches to drive growth: Mahindra

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Buy Lupin, target Rs 985: HDFC Securities
HDFC Securities has a buy call on Lupin with a target price of Rs 985.

The current market price of Lupin is Rs 818.15.

Time period given by the brokerage is one year when Lupin price can reach the defined target.

Investment rationale by the brokerage: While the first half of the current fiscal year was weak for Lupin, the company reported decent

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Reliance Power asks Sebi to ban Edelweiss Group
New Delhi: Anil Ambani-led Reliance Power has asked the Sebi to immediately ban Edelweiss Group from the capital market, alleging "illegal and market disruptive activities" to cause a steep plunge in the company's share price.

Reliance Group, last week, accused L-T Finance and Edelweiss Group entities of "illegal" and "motivated" actions in

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Motherson Sumi Q3 profit drops 1% to Rs 555 cr
NEW DELHI: Auto component major Motherson Sumi Systems on Monday reported 1.19 per cent drop in consolidated net profit at Rs 554.99 crore for the third quarter ended December 2018.

The company had reported profit of Rs 561.71 crore during the same period of the previous fiscal.

Revenue from operations, however, rose to Rs 16,233.65 crore compared

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Buy Amber Enterprises India, target Rs 975: Elara Capital
Elara Capital has a buy call on Amber Enterprises India with a target price of Rs 975.

The current market price of Amber Enterprises India is Rs 706.70.

Time period given by the brokerage is one year when Amber Enterprises India price can reach the defined target.

Investment rationale by the brokerage-AC segment posts 15 per cent volume growth: Am

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Sun Pharma makes the most of US sales: Q3 takeaways
Drug major Sun Pharmaceutical on Tuesday reported better-than-expected financial results for the quarter ended December 2018.

Consolidated net profit jumped 286 per cent to Rs 1,242 crore from a year ago.

The company announced its financial results after market hours. Earlier in the day, the stock settled 2 per cent higher at Rs 436.75 while the

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Buy Indraprastha Gas, target Rs 338: SBICAP Securities
SBICAP Securities has a buy call on Indraprastha Gas with a target price of Rs 338.

The current market price of Indraprastha Gas is Rs 280.60.

Time period given by the brokerage is one year when Indraprastha Gas price can reach the defined target.

Investment rationale by the brokerage-Robust margin despite higher opex and gas cost: IGL’s Q3FY19 r

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Angel tax threshold at Rs 25 crore What the startup sector really wants
NEW DELHI: While the Interim Budget 2019 was hailed for assured income scheme for farmers and tax concessions for the middle class, it missed out of addressing tax concerns raised by country’s mushrooming startups.

But after discussions with various stakeholders earlier this week, the Department of Industrial Policy and Promotion (DIPP) and

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Tech view: Nifty50negative candles signal rangebound trade with weak bias
NEW DELHI: The Nifty50 on Tuesday settled lower for the third straight session in a row. During the day, the index breached its key short- and long-term moving averages, as it formed lower highs and lows for yet another day. Analysts said the bears have secured an upper hand for now.

“The index has settled below its 200-DMA at 10,858. A weak close

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Buy ICICI Prudential Life Insurance Company, target Rs 450: SBICAP Securities
SBICAP Securities has a buy call on ICICI Prudential Life Insurance Company with a target price of Rs 450.

The current market price of ICICI Prudential Life Insurance Company is Rs 298.6.

Time period given by the brokerage is one year when ICICI Prudential Life Insurance Company price can reach the defined target.

Investment rationale by the

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China trade talks resume next week, focus on intellectual property
WASHINGTON: US negotiators are preparing to press China next week on longstanding demands that it reform how it treats American companies' intellectual property in order to seal a trade deal that could prevent tariffs from rising on Chinese imports.

A new round of trade talks begins in Beijing on Monday, after the most recent set of negotiations

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After Market: Eicher, Sun Pharma rise in slow market; SBI, Britannia below 200-DMAs
NEW DELHI: Equity barometer Sensex extended its losing streak into the fourth consecutive session on Tuesday, shrugging off the rally in global stocks, as banking, financial, auto, IT and FMCG heavyweights suffered losses.

Globally, shares and bonds saw a renewed surge in risk appetite on Tuesday, as investors showed optimism about US-China trade

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Share market update: BSE Capital Goods index falls; Graphite India tanks 10%
NEW DELHI: The S-P BSE Capital Goods index was trading in the red in Monday's afternoon session.

Shares of Graphite India (down 9.99 per cent), Suzlon Energy (down 7.03 per cent), HEG (down 6.01 per cent) and Bharat Electronics (down 3.87 per cent) were the worst performers in the index.

Sadbhav Engineering (down 2.92 per cent), Havells India

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UCO Bank Q3 loss at Rs 999 crore
KOLKATA: State-owned lender Uco Bank suffered Rs 999 crore net loss in the December quarter due to further deterioration of asset quality but treasury gains helped it to contain the loss as compared with Rs 1016 crore in the year ago period.

Fresh bad loans — Rs 1,000 crore on account of defaults by IL-FS group companies and another Rs 800 c

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Sun Pharma Q3 profit jumps fourfold to Rs 1,242 crore, beats Street estimates
Sun Pharma on Tuesday reported nearly fourfold jump in profit at Rs 1,241.85 crore for December quarter, beating Rs 981 crore net estimated by analysts in an ET Now poll.

The company had reported Rs 321.57 crore profit in the same quarter last year.

The year-ago numbers were impacted by Rs 513.02 crore exceptional taxes on account of

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PE firm TPG mops up $4.6 bn for Asia fund
MUMBAI: Global private equity firm TPG has raised over $4.6 billion towards its seventh Asia focused private equity fund - TPG Capital Asia VII - the alternative asset firm said today.

Announcing its final close, the fund said it has exceeded its initial target keeping investor demand in mind.

“Thanks to the continued support of our global i

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Tata Motors’ shares recorded their second worst ever single-day fall on Friday, in reaction to the company’s biggest ever quarterly loss in the December quarter,sparking target price cuts from brokerages and in some cases rating downgrades.

The stock plummeted 17.3% to close at ₹151.30 on the BSE after falling as much as 22% intraday. With Tata

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Stocks drop into red ahead of macro data
NEW DELHI: Heavy selling pressure over the last one hour of trade dragged key stock indices significantly lower on Tuesday ahead of key macroeconomic data slated to be released later in the day.

The indices defied positive cues from global markets and strength in the rupee to settle lower.

Market swung between gains and losses, indicating high

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Buy Grasim Industries, target Rs 988: Edelweiss Securities
Grasim Industries share price: Buy Grasim Industries, target Rs 988: Edelweiss Securities - The TheIndianSubcontinent

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CLSA retains cautious view on markets after RBI policy
Foreign Brokerage CLSA has retained cautious view on Indian markets after the Reserve Bank of India delivered a surprise rate cut in its monetary policy on Thursday, and expectedly changed policy stance to 'neutral' from 'calibrated tightening'.

CLSA said the RBI was right in cutting the rates as the decline in food inflation appears to be

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Share market update: Nifty Private bank index dips; Axis Bank, ICICI Bank among top losers
NEW DELHI: Shares of private sector banks were incurring losses in Monday's afternoon session.

Shares of Axis Bank (down 1.54 per cent), RBL Bank (down 1.42 per cent) and ICICI Bank (down 0.92 per cent) were top losers in the index.

Federal Bank (down 0.65 per cent), YES Bank (down 0.40 per cent)and IndusInd Bank (down 0.16 per cent) too were

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Share market update: Consumer Durables shares fall; VIP Industries plunges over 5%
NEW DELHI: The S-P BSE Consumer Durables index was trading with losses in Monday's afternoon session.

Shares of VIP Industries (down 5.48 per cent), Symphony (down 1.31 per cent) and Voltas (down 1.28 per cent) were trading lower.

TTK Prestige (down 0.82 per cent), Crompton Greaves Consumer Electricals (down 0.73 per cent) and Whirlpool of

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SBI cuts interest rate on home loan by 5 bps
MUMBAI: State Bank of India (SBI) has cut home loan rates up to Rs 30 lakh by 5 basis points citing lower interest rates after the RBI cut on Thursday. One basis point is 0.01 percentage point. SBI's home loan rates up to Rs 30 lakh now stands at 8.70% after the cut.

SBI on Friday said home loan rates for loans upto Rs 30 lakh stand reduced. SBI

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European shares recover from 1-week low as trade talks resume
MILAN: Gain in heavyweight mining and banking stocks helped European shares recover from one-week lows on Monday as investors turned their focus to the start of a new round of trade talks between Beijing and Washington.

The STOXX 600 index was up 0.7 percent by 0828 GMT, helped by a broad-based bounce, while Germany's trade-sensitive DAX was up

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Top quantitative strategies of the day
By Motilal OswalOption WritingSTRATEGY 1Writing against Cash / Future HoldingSell INDUSIND BANK 1580 CE 28-FEB-19 @ 8.55 Target Level : 0.15 Stop Loss Level : 13 Gross Monthly Yield : 0.90 per cent ROI : 3.65 per cent Margin : 69,500 Days to Expiry : 18 Writing with HedgingLeg 1: Sell INDUSIND BANK 1580 CE 28-FEB-19@ 8.55 Leg 2: Buy INDUSIND BANK
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Govt mulls capital infusion into regional rural banks
KOLKATA: The government is mulling capital infusion into regional rural banks to reduce the payout burden of the new pension scheme which threatens to derail these banks’ lending to small and marginal farmers, two people familiar with the development said.

The government has approved a new pension scheme for RRBs following the Supreme Court’s o

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