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Bharti Infratel Q3 profit rises 11% YoY to Rs 648 crore
NEW DELHI: Bharti Infratel reported a 11% on-year rise in net profit in fiscal third quarter, helped by a higher net finance income and lower taxes, even though co-locations on its telecom sites continued to fall amid consolidation in sector.

India’s sole listed tower company’s consolidated net profit for October-December period came in higher at R

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ITC Q3 profit rises 4% YoY to Rs 3,209 crore, ebitda margin misses Street estimates
NEW DELHI: FMCG major ITC on Wednesday reported 3.85 per cent year-on-year (YoY) rise in standalone profit at Rs 3,209.07 crore for December quarter.

Analysts in an ET NOW poll had estimated profit at Rs 3,201 crore.

The cigarette maker had reported Rs 3,090.20 crore profit in December quarter of previous fiscal.

Ebitda margin for quarter at 37.8

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Vikas EcoTech, Nila Infra among top gainers on BSE
NEW DELHI: The domestic equity benchmark BSE Sensex was trading 2.78 points down at 36,401.86 on January 23 on account of selling in frontline bluechip counters.

Shares of 7NR Retail (up 16.96 per cent), Manaksia Coated Metals (up 16.94 per cent), Shri Keshav Cement (up 13.89 per cent), Loyal Textiles (up 12.05 per cent), CNI Research (up 11.68

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F O: Nifty50 stuck in a broad range, needs decisive breakout
The Nifty50 on Wednesday failed to surpass previous day’s high of 10,950 level and despite initial consolidation fell down sharply towards 10,810.

The index has broken its consolidation range of last five sessions and slipped below 10,850. Nifty has been forming lower highs lower lows on daily scale since last two sessions, as it failed to

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Budget 2019: Time to maximise affordability to boost housing demand
By Manish ShethAffordable housing has always been focus of present government and various measures initiated underline its strong intent towards achieving that goal.

Although upcoming Budget would be a vote on account, a few positive announcements from affordable housing finance perspective can be expected.

Tax incentives for first time home buyers

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View: McFinance and importance of controls
By R Gurumurthy - Indranil ChakrabortyMcDonaldisation is a term popularised by American sociologist George Ritzer to extend and reconceptualise Max Weber’s work on ‘rationalisation’ as a contemporary paradigm. As financial markets have undergone significant transformation and almost all these changes have been brought about in name of impro
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IndiGo Q3 profit slumps as fuel costs hurt
Mumbai: Interglobe Aviation, which operates IndiGo airline, on Wednesday announced a 75% slump in its profit due to a weak operating performance.

India’s biggest airline by market share posted a net profit of Rs 190 crore for October-December, down from Rs 762 crore a year earlier.

Revenue rose 28 per cent to Rs 7,916 crore. But revenue per

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YES Bank Q3 earnings: Exposure to IL FS group, update on new CEO eyed
NEW DELHI: Private lender YES Bank will come out with its earnings numbers for December quarter on Thursday. There are expectations that bank may report higher slippages and loan provisions for its exposure to IL-FS group. However, net interest margins may remain stable for quarter ended December 31.

IDBI Capital Market projected 9.70 per cent

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ICICI Pru, Ponni Sugars among top losers on BSE
NEW DELHI: The domestic equity benchmark BSE Sensex was trading 21.59 points down at 36,423.05 on Wednesday on account of selling in frontline bluechip counters.

Shares of Devoted Construction (down 19.92 per cent) , Ponni Sugars (down 10.64 per cent) , Asian Hotels (down 9.03 per cent) , Kamadgiri Fashion (down 8.78 per cent) , ICICI Prudential

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Sensex takes 336-point hit as ITC Q3 bites
NEW DELHI: Things took a nasty turn for market on Wednesday after FMCG heavyweight ITC missed its December quarter earnings estimates, pulling down benchmark indices by nearly 1 per cent.

Headwinds on Brexit front, no breakthrough in trade war and slowdown concerns meant risk aversion ruled.

ITC, HDFC twins and IT stocks were top drag as Sensex pl

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Davos 2019: What global elites said on Modi, market macros
World big names and top business chiefs are rubbing shoulders with each other in Davos to deliver their takes on global economy as growth outlook darkens.

The event comes a time when risks from a bruising US-China trade war and Brexit are compounding worries. So, where does that leave Indian economy and market with

To be sure, India remains a

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Two mutual funds mark down IL FS SPV debt
Two of country’s biggest mutual funds have marked down value of debt issued by two special purpose vehicles (SPVs) of Infrastructure Leasing - Financial Services as troubled infrastructure investor’s financial woes continue to rattle financial markets.

Four months after parent IL-FS sparked a major crisis with its default prompting a rare

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Vodafone Idea board clears Rs 25,000 crore rights issue
Vodafone Idea board has approved fund-raising to tune of Rs 25,000 crore through a rights issue, telecom firm said on Wednesday.

Promoters of company, including Vodafone Group and Aditya Birla Group, intended to contribute up to Rs 11,000 crore and Rs 7,250 crore, respectively, as part of such rights issue.

“Further, promoter shareholders have i

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China stocks end nearly flat as trade woes offset stimulus hopes
SHANGHAI: China's major stock indexes ended nearly flat on Wednesday, as hopes of more stimulus measures to shore up economic growth were offset by worries over Sino-U.S. trade dispute.

The blue-chip CSI300 index slipped 0.1 per cent to 3,141.05 points, while Shanghai Composite Index inched up 0.1 per cent to 2,581.00 points.

China will step up

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Sensex, Nifty trade flat; market awaits ITC, Bharti Infratel earnings
NEW DELHI: Headline indices Sensex and Nifty kicked off Wednesday's session on a lacklustre note, tracking sluggish global cues.

Asian stocks edged down on Wednesday on mounting signs of slowing global growth and anxiety over a yet-unresolved Sino-US trade dispute, Reuters reported.

Investors chose to restrict their bets ahead of December quarter

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IndiGo Q3 profit dives 75% YoY to Rs 191 crore on higher fuel prices
NEW DELHI: InterGlobe Aviation (IndiGo) on Wednesday reported a 75 per cent year-on-year (YoY) drop in profit after tax (PAT) at Rs 190.90 crore for December quarter, mainly on high fuel prices and currency depreciation.

The company reported Rs 762 crore profit in year-ago period.

Revenue from operation rose 28.1 per cent YoY to Rs 7,916.20 crore

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Share market update: Nifty PSU Bank index flat; Canara Bank down 1%
NEW DELHI: The Nifty PSU Bank index was flat in Wednesday's morning session with most of its components trading in red.

The Nifty PSU Bank index was trading 0.14 per cent down at 3009.35 around 10:41 am.

Shares of Canara Bank (down 1.08 per cent), Union Bank of India (down 1.01 per cent), Syndicate Bank (down 0.68 per cent ) and Oriental Bank of

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Buzzing stocks: RCom, YES Bank, Prabhat Dairy, RIL, Vakrangee
NEW DELHI: Reliance Communications with over 1.78 crore crore shares changing hands was leading among most traded stocks on NSE on Wednesday.

Shares of YES Bank (number of shares traded: 0.84 crore) , Prabhat Dairy (number of shares traded: 0.46 crore) , Vakrangee (number of shares traded: 0.43 crore) , Adani Power (number of shares traded: 0.30

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NEW DELHI: FMCG major ITC on Wednesday posted a 3.85 per cent year-on-year (YoY) rise in net profit on a double-digit rise in top line for quarter ended December 2018.

Net profit of company jumped to Rs 3,209.07 crore in Q3FY19 over Rs 3,090.20 crore in corresponding quarter last year.

Net sales of company increased 14.86 per cent YoY to Rs

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NEW DELHI: Multibaggers from infrastructure space are sparse. Therefore, with 2,949 per cent rise in last 10 years, it seems KNR Construction is cut from a different cloth.

However, recent stock performance is anything but satisfactory. Analysts see stock among key smallcap plays post general elections. This is even as December quarter profit for

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Mumbai: Mint Road appears to be going extra mile to help strengthen India’s derivative platform that covers interest rate risks, seeking to make overseas participation in local Overnight Interest Rate Swap (OIS) market operationally easier and viable.

“The central bank has asked offshore investors to write their views on OIS. It is seeking s

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Radico Khaitan Q3 net jumps 49% to Rs 52.09 crore
Liquor firm Radico Khaitan Wednesday reported a 48.78 per cent jump in its net profit at Rs 52.09 crore for quarter ended December 2018. The company had posted a net profit of Rs 35.01 crore during same period of previous fiscal.

Total income during quarter under review stood at Rs 2,081.12 crore. It was Rs 1,747.98 crore in year-ago period,

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Bharti Infratel Q3 results today; herewhat to expect
NEW DELHI: Bharti Infratel is likely to report tepid financial results for quarter ended December 2018.

According to Kotak Institutional Equities, company may report 2.7 per cent year-on-year (YoY) rise in net profit at Rs 601.50 crore in Q3FY19 over 585.40 crore in Q3FY18.

The brokerage house also projected 0.20 per cent YoY dip in net sales at

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Mumbai: IL-FS Investment Managers has drawn interest from Edelweiss, India Infoline and Altico Capital, an industry source close to development said.

“Edelweiss, Altico Capital and IIFL are among 10-12 companies that have shown interest in buying IL-FS Investment Managers,” said an executive, who did not wish to be named.

IL-FS owns 50

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Raymond Q3 profit up 30% to Rs 40 crore
Diversified Raymond Group Wednesday reported an increase of 30 per cent in consolidated net profit at Rs 39.95 crore for third quarter ended December 2018.The company had posted a net profit of Rs 30.71 crore in October-December period a year ago, Raymond said in a BSE filing.

Total income during reported period stood at Rs 1,705.68 crore,

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Share market update: Auto shares in red; Motherson Sumi down nearly 2%
NEW DELHI: Auto shares were trading in red in Wednesday's morning trading session.

Shares of Motherson Sumi Systems (down 1.85 per cent), TVS Motor Company (down 1.41 per cent), Bharat Forge (down 0.93 per cent ) and Exide Industries (down 0.84 per cent) were worst performers in index.

Hero MotoCorp (down 0.62 per cent), Tata Motors (down 0.50

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Buy Titan Company, target Rs 1010: Manas Jaiswal
Manas Jaiswal of manasjaiswal.com has a buy call on Titan Company Ltd. with a target price of Rs 1010. The current market price of Titan Company Ltd. is Rs 982.6 Time period given by analyst is Intra Day when Titan Company Ltd. price can reach defined target. Manas Jaiswal recommended to keep stoploss at Rs 964.

Titan Company Ltd., incorporated in

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Bank of Maharashtra Q3 loss widens to Rs 3,764 crore, but why did stock rally
NEW DELHI: Public lender Bank of Maharashtra on Wednesday reported a loss of Rs 3,764.26 crore for December quarter due to Rs 4,421 crore provisions and contingencies it made during period.

The loss was six times higher than Rs 596.70 crore hit lender had reported in year-ago period. Losses for quarter were almost equal to market capitalisation of

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YES Bank climbs 2% on Maharashtra govt deal
NEW DELHI: Shares of private sector lender YES Bank climbed 2 per cent in early trade on Wednesday after bank partnered with Government of Maharashtra to onboard PDS shops onto electronic PDS initiative through which they can become agents of bank.

Under partnership, YES Bank will empower more than 20,000 ration shops which can offer last mile

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Buy Strides Pharma Science, target Rs 600: Manas Jaiswal
Manas Jaiswal of manasjaiswal.com has a buy call on Strides Pharma Science Ltd. with a target price of Rs 600. The current market price of Strides Pharma Science Ltd. is Rs 547.75. Time period given by analyst is Intra Day when Strides Pharma Science Ltd. price can reach defined target. Manas Jaiswal recommended to keep stoploss at Rs 525. Strides
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