StockMarket

Essel Group gets time from lenders till September to clean its books
Essel Group said Sunday that it has sealed a formal agreement with its lenders to keep it afloat, under which it gets time till September to deleverage or pare its debt.

The agreement is with those lenders who have taken pledged shares of the group flagship and listed entities, Zee Entertainment Enterprises and Dish TV India.

On January 27, the

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The week that was in 10 stocks: ZEE shines, but DHFL, Vedanta reel under pressure
A dovish policy stance of the US Federal Reserve and the BJP government’s big populist push in its interim Budget supported domestic indices, leading to a rise of over 1 per cent each for BSE Sensex and NSE Nifty for the week ended February 1.

The 30-share Sensex jumped 444 points to close at 36,469 on February 1, 2019 from 36,025 on January 25.

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The domestic stock market was in for a rollercoaster ride during the week gone by with a disappointing first half, while sentiment improved after the US Fed decided not to raise interest rates, indicating a pause for a reasonable period.

The Fed’s decision had a cascading effect on the Indian indices. This will be good for equity markets in the

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NEW DELHI: With DHFL group companies’ debt mess coming under lens, global brokerage Credit Suisse has warned that it could trigger a second wave of risk aversion in India’s debt fund industry.

Earlier, India’s debt mart faced a major risk aversion during September-October following a debt default by the IL-FS group.

The DHFL debt mess is

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Budget may not really help BJP get big votes, says Vijay Kedia
The Union Budget is usually said to dig one hole to fill another. However, this one is surprisingly different, says Vijay Kedia, MD, Kedia Securities.

In an exclusive interaction with ETMarkets.com, he said the salaried class is 100 per cent honest taxpayers, as they have no way to escape or hide income like any other classes.

Commenting on the

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Collection of stamp duty on stocks to be centralised
The government has simplified the stamp duty collection process for listed securities, making it centralised at a unified rate.

So, from the next financial year, stock exchanges will collect the stamp duty for trading stocks at a unified rate and deposit the proceeds with the central government, which in turn will divide it among the states.

At

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Friday session on Dalal Street went off much on the expected lines. The markets saw a steady start and after remaining rangebound in the morning session, it reacted in an extremely volatile manner to the Interim Budget proposals. At one point, Nifty came off nearly 150 points after a sharp rise only to recover again. After such wild swings back
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By DK Aggarwal

India’s $154-billion information technology sector emerged as a top bet in the year gone by amid heightened market volatility.

With the adoption of emerging technologies such as artificial intelligence (AI), machine learning and robotics for automation, the sector appears to be on the cusp of another major leap forward.

The nature

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Budget 2019: A fine balancing act between fiscal prudence development
By S NarenThe interim budget 2019 is a pro-rural, housing and middle-class centric one. The fiscal outlays were increased to promote a slew of schemes related to agriculture, defence, electricity, animal husbandry, and more. Yet, the finance minister managed a fine balancing act between fiscal discipline and developmental needs of the economy.

On

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Tweet Buster: Budget nit-picking, stock ideas and why bear markets are good
NEW DELHI: The bulls made merry on Dalal Street during the week gone by, following US Fed’s decision to hold rates and the Interim Budget that offered big bonanza to farmers and the middle class. Equity benchmarks Sensex and Nifty ended over a per cent higher for the week.

Besides the Interim Budget, there was a lot of stock-specific action:

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India's sovereign rating profile to be evaluated based on post-election Budget: Fitch
NEW DELHI: Pre-election spending has led to fiscal slippage by a modest margin but the sovereign rating profile of India would be evaluated based on the medium term outlook in the post-election Budget, Fitch Ratings has said. Finance Minister Piyush Goyal on Friday presented the Interim Budget for 2019-20 in which he announced out a scheme under
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The stock market gained after a wobbly start and bond yields spiked on Friday as investors weighed the impact of the fiscal stimulus proposed in the interim budget on the economy and interest rates. The Nifty came close to the 11,000-mark on Friday for the first time in four months on hopes the government’s moves would boost rural economy but c
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Timeline for LIC to reduce stake in IDBI Bank depends on business model: IRDAI
HYDERABAD: Insurance Regulatory and Development Authority of India (Irdai) will set a timeline for LIC to bring down its stake in IDBI Bank to below 15 per cent, its chairman Subhash Khuntia said.

He clarified that the insurance giant has been given the approval to acquire 51 per cent stake on the condition of bringing it down to below 15 per cent

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We had mentioned in our previous weekly note that the markets would remain more volatile due to expiry of the January series and interim Budget.

The expiry day did not bring in any volatility at all, but the last session of the week remained extremely volatile, in line with expectations. The Nifty saw volatile swings before settling the week,

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India’s bond market reacted sharply to the finance minister’s announcement of higher-than-expected fiscal deficit for the coming year and the corresponding borrowing burden on the market saw 10-year bond yields jump 11 basis points to close at 7.38 per cent.

Net borrowing, after adjusting for repayments, is seen at Rs 4.48 lakh crore in FY20

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Trending on et - budget 2019 full coverage »

ETMarkets.com|

Updated: Feb 03, 2019, 02.37 PM IST

The current market price of Bajaj Auto is Rs 2,602.70.
Yes Securities has a buy call on Bajaj Auto with a target price of Rs 3,200.

The current market price of Bajaj Auto is Rs 2,602.70.

Time period given by the brokerage is one year when

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Private equity firm Blackstone today bought Aadhar Housing Finance, affordable housing arm of Wadhawan Global for about Rs 2,700 crore, outbidding private-equity fund Baring Private Equity and Hero Fincorp.

“Blackstone emerged as the winner for the affordable housing finance arm of Wadhawan’s Dewan Housing bidding the business at Rs 2,700 crore, w

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Catalyst Trusteeship sells 74 lakh shares of Zee
Catalyst Trusteeship sold 74 lakh shares of Zee Enterprises on the NSE on Friday.

The sale was done at Rs 361.42 per share. On Sunday, Zee promoters and lenders, including mutual funds and NBFCs, had entered into an agreement that lenders would give a three-month breather till the company finds a buyer to ease the cash crunch.

The understanding

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Buy ICICI Bank, target Rs 483: Yes Securities
Yes Securities has a buy call on ICICI Bank with a target price of Rs 483.

The current market price of ICICI Bank is Rs 354.50.

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

Investment rationale by the brokerage-Balance sheet de-risking/strengthening continues and asset quality improves: It was

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Bear markets are like ethical hackers, they expose scams: Shankar Sharma
You need both bears and bulls to create wealth on Dalal Street and to clean up the system. Veteran investor Shankar Sharma says a bear market often helps clean up the system, as it exposes scams, which the bulls tend to keep hidden.

“I really don’t know why regulators around here hate bear markets. Bear markets expose scams. Bull markets keep

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S P near 8-week high after upbeat jobs data; Amazon results weigh
The S-P 500 held near an eight-week high on Friday as stronger-than-expected U.S. job growth in January allayed concerns about a slowdown, although disappointing outlook from e-commerce giant Amazon capped gains.

The Labor Department data showed nonfarm payrolls jumped by 304,000 jobs last month, the largest gain since February 2018, handily

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FPIs pull out Rs 5,300 crore from capital markets in January
NEW DELHI: Foreign Portfolio Investors (FPIs) withdrew over Rs 5,300 crore from the Indian capital markets in January, indicating their 'wait and watch' approach ahead of the general elections.

Prior to this, they had infused a net sum of over Rs 17,000 crore in the capital markets -- equity and debt -- during November and December 2018. In

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Traders stick to view that Fed's next move is rate cut
Traders on Friday trimmed bets the Federal Reserve will cut interest rates after a US government report showed hiring surged unexpectedly last month, but prices of short-term rate futures show they remain convinced the central bank’s next move will be a rate cut rather than a hike.

Contracts tied to the Fed’s policy rate have priced out any chance

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Chanda Kochhar's fall best example of weak governance at banks: S P
Mumbai: Global ratings agency Standard - Poor's has said the Chanda Kochhar case, which saw the bank board changing its views, is illustrative of the weak governance at the domestic banks.

"The recent developments surrounding former ICICI Bank chief executive Chanda Kochhar and the changing view of the bank's board affirms our view of the

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Five of top 10 valued companies add Rs 65,426 crore in m-cap; TCS shines
NEW DELHI: Five of the 10 most valued Indian companies together added Rs 65,426.16 crore in market valuation last week, with Tata Consultancy Services (TCS) topping the list.

Reliance Industries (RIL), Hindustan Unilever (HUL), ITC and Infosys were the other gainers, while HDFC Bank, HDFC, State Bank of India (SBI), Kotak Mahindra Bank and ICICI

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D-Street has a problem with the Budget math: Revenue targets look too ambitious
NEW DELHI: Budget 2019 was more than just ‘interim’ as it was supposed to be. The big announcements, including an assured income support and income-tax exemptions, cheered the potential voter base – farmers and he lower middle class.

But analysts says the government’s revenue projections to fund those expenditure look too ambitious. The government

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Budget to spur consumption, bodes well for capital market: Experts
New Delhi: The budget announcements, including direct cash transfer to farmers, will provide a major impetus for consumption and bode well for the capital market, experts said.

The budget, presented by Finance Minister Piyush Goyal on Friday, is a well-rounded attempt of presenting something for everybody, they added.

Manish Gunwani, CIO Equity

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RBI rate review, Q3 earnings among 6 factors steering D-Street in the week ahead
NEW DELHI: Booster dose from the Interim Budget and Fed policy helped Mr Market settle in the positive territory last week even as third quarter earnings and the expiry of January F-O series kept stocks volatile.

While Budget moves that are likely to boost consumption were seen as major positives for the market, investors also breathed easy as

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Emerging central banks' tightening cycle grinds to a halt
LONDON: There are signs that the tightening cycle among emerging market central banks could be coming to an end and may be about to reverse as the dollar rally and rise in global borrowing costs has run out of steam.

Net interest rate hikes across a group of 37 developing economies showed just one raise in January, compared with a peak of nine

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Equitas finalises small finance bank listing plan
Kolkata: Equitas Holdings has decided to offer 47% of its ownership in Equitas Small Finance Bank to its existing shareholders.

The bank will then look to list the shares on the stock exchanges using a provision that allows companies to get listed without making an initial public offer of shares, managing director PN Vasudevan told ET.

While the

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