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IL FS effect: Icra downgrades 6 funds from HDFC, UTI, Birla AMC
Mumbai: Domestic rating agency Icra has placed ratings of six mutual fund schemes under watch with negative implications due to their exposure to crippled infra lender IL-FS group entities.

The schemes being put under watch include a short term debt funds and banking and PSU debt funds from HDFC, banking and PSU debt fund, bond fund, dynamic

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Sensex falls for first time in 6 days, sheds 134 pts; Nifty ends at 10,923
NEW DELHI: Snapping five-session rally, domestic equity market succumbed to profit-booking to end lower on Tuesday mainly on account of losses in financial and auto stocks.

Global sentiment remained weak after International Monetary Fund (IMF) cut its global growth forecast. Asian and European peers traded with losses, which dented sentiment back

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Prabhat Dairy cuts gains after 20% rally on Rs 1,700 cr deal
NEW DELHI: Shares of Prabhat Dairy on Tuesday gave up gains, but still traded 13 per cent higher in morning session.

The stock came off even as its Rs 1,700 crore stake sale deal is much bigger in value than company’s total market capitalisation of Rs 900-odd crore.

At 10.20 am, scrip was at Rs 106, down 5 per cent from its day’s high of Rs 1

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IIFL taps Rs 2,000 crore NCD issue to diversify fund sources
Kolkata: The Rs 2000 crore India Infoline Finance (IIFL) secured and non-secured non-convertible debentures (NCD) issue at a high coupon rate is carried to diversify sources of fund after commercial paper market squeezed post IL-FS crisis, a top company official said.

"There will be rise in cost. But, we want to diversify sources of fund even

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Havells India Q3 net flat at Rs 195.67 crore
New Delhi, Jan 22 () Electrical goods maker Havells India Tuesday reported a 0.67 per cent rise in standalone net profit at Rs 195.67 crore for quarter ended December 2018. The company had posted a net profit of Rs 194.36 crore during October-December quarter of previous fiscal.

Total income during quarter under review stood at Rs 2,551.4 crore

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Share market update: Pharma shares gain; Sun Pharma surges 5%
NEW DELHI: Pharma shares were trading in green in Tuesday's morning session.

Shares of Sun Pharmaceutical Industries (up 5.20 per cent), Glenmark Pharmaceuticals (up 0.74 per cent), Biocon (up 0.68 per cent) and Divi's Laboratories (up 0.59 per cent) were top gainers in index.

Dr. Reddy's Laboratories (up 0.55 per cent), Aurobindo Pharma (up 0.51

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HDFC Life Q3 profit rises 18% to Rs 246 crore
New Delhi: HDFC Life Tuesday reported 18.3 per cent growth in profit at Rs 245.63 crore for third quarter ended December 31.

The private sector insurer's profit stood at Rs 207.32 crore in same quarter of 2017, HDFC Life said in a statement.

Total income of company declined to Rs 9,303.09 crore from Rs 9,684.46 crore in October-December 2017.

The

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Shree Cement Q3 down 10% at Rs 301 crore
Shree Cement on Tuesday reported a decline of 9.61 per cent in its standalone net profit to Rs 301.29 crore for third quarter ended December 2018. The company had posted a net profit of Rs 333.33 crore in October-December quarter a year ago, Shree Cement said in a BSE filing.

However, its total income was up 18.65 per cent to Rs 2,835.94 crore

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NEW DELHI: Stocks in India may have gone up for five consecutive days, but dwindling market breadth remains a sticking point.

This was evident on Monday as Nifty50 heavyweight Reliance Industries led from front. What was missing was broad based participation, which has made market a bit cautious.

That in a way suggests 97 stocks on NSE could see

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Alembic Pharma Q3 profit up 30% at Rs 170 crore
New Delhi: Alembic Pharmaceuticals Tuesday reported 30 per cent rise in consolidated net profit to Rs 169.83 crore for quarter ended December 31, 2018 mainly on account of robust sales in US.

The company had posted a net profit of Rs 130.60 crore in year-ago period, Alembic Pharma said in a filing to BSE.

Consolidated revenue from operations stood

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UBS, global growth worries send European shares into red
LONDON: European shares opened in negative territory on Tuesday as growth worries weighed on global markets and disappointing results from UBS added to gloom and dragged banking sector down.

At 0837 GMT, STOXX 600 was down 0.1 per cent with bourses all across Europe losing ground as a new batch for corporate updates failed to change a risk-averse

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Ashok Leyland declines 3% after CLSA cuts target price
Shares of Ashok Leyland plunged over 3 per cent in early trade on Tuesday after global brokerage firm CLSA maintained ‘Sell’ rating on stock and also cut target price to Rs 75 (Rs 85 earlier).

The scrip was trading 3.20 per cent down at Rs 87.75 at around 9.50 am (IST), while BSE Sensex was down 146 points, or 0.40 per cent, at 36,424 at around

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Reliance Nippon Life Asset Q3 profit drops 17% to Rs 109 crore
New Delhi: Reliance Nippon Life Asset Management (RNAM), asset manager of Reliance Mutual Fund, Tuesday reported 17 per cent decline in consolidated net profit at Rs 109.52 crore in three months to December 2018.

In comparison, company logged a net profit of Rs 132.01 crore in October-December 2017, RNAM said in a filing to stock exchanges.

The

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TVS Motor Company Q3 net rises 15% to Rs 178 crore
TVS Motor Company Tuesday reported 15.57 per cent increase in standalone net profit at Rs 178.39 crore for third quarter ended December 31, 2018. The company had posted a net profit of Rs 154.35 crore in year-ago quarter.

During reported three-month period, revenue from operations was at Rs 4,663.98 crore, up 26.09 per cent as against Rs 3,698.67

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Share market update: IT shares decline; Infibeam Avenues dips nearly 2%
NEW DELHI: IT shares were trading in negative zone in Tuesday's morning session.

Shares of Infibeam Avenues (down 1.82 per cent), HCL Technologies (down 1.20 per cent) and Infosys (down 0.98 per cent) were trading with losses.

Tech Mahindra (down 0.55 per cent), Tata Consultancy Services (down 0.14 per cent ) and Oracle Financial Services

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Reliance Industries gets CCI nod to acquire Hathway, DEN
MUMBAI: Mukesh Ambani-owned Reliance Industries has received a go ahead from Competition Commission of India (CCI) to acquire majority stakes in two of India’s largest cable operators – DEN Networks and Hathway Cable - Datacom.

RIL informed stock exchanges that it has received approval from CCI on January 21 for acquisition.

ET was first to

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Top intraday trading ideas for afternoon trade for Tuesday 22 January 2019
NEW DELHI: Equity benchmarks Sensex and Nifty50 were trading lower on Tuesday on account of selling in frontline bluechip counters.

ETMarkets.com collated a list of trading ideas from various experts and here's what they had recommended for today's afternoon trade:

Manas Jaiswal of manasjaiswal.comKajaria Ceramics is a 'Buy' call with a target

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Markets want a stable government that stays away: Nilesh Shah, Kotak AMC
India has seen a perfect storm in first nine months of 2018, created by oil prices, interest rates, rupee, banking liquidity, credit events like IL-FS and FII selling. With some luck and some deft management, now economy is in a reasonable shape. Oil prices are down and are likely to remain stable. The rupee is near its fair value. It will
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Muthoot Capital Q3 profit jumps 48% to Rs 23 crore
Vehicle-finance lenders, Muthoot Capital’s third quarter net profit rose 48% to Rs.23.3 crores from Rs.15.7 crores in last year quarter on back of growing asset quality.

The growth came despite liquidity crunch in NBFC sector and a lacklustre two-wheeler sales in quarter owing to increased insurance price in segment.

“As far as MCLS is concerned, w

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Kajaria Ceramics up for 3rd day on Q3 data
NEW DELHI: Shares of Kajaria Ceramics took their positive momentum to third straight session, jumping by 3 per cent on Tuesday.

The stock has been on an upward trajectory after it reported a 24.06 per cent rise in consolidated net profit at Rs 65.89 crore for third quarter ended December 2018.

Net profit stood at Rs 53.11 crore in

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Share market update: PSU Bank shares trade lower; Union Bank down over 1%
NEW DELHI: Most shares of public sector banks were trading lower with Nifty PSU Bank index down in Tuesday's morning session.

Shares of Union Bank of India (down 1.22 per cent), Bank of India (down 0.75 per cent), Oriental Bank of Commerce (down 0.75 per cent) and State Bank of India (down 0.62 per cent) were top losers in index.

Bank of Baroda

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After Market: Metal pack melts, 37 stocks in oversold zone
NEW DELHI: Losses in metal, bank and auto heavyweights amid weak global cues made domestic equity benchmarks snap five-session winning streak on Tuesday.

The market traded in negative zone throughout day, as gloom in global markets extended to domestic bourses.

Emerging stocks and currencies slid, as fears of slowing global growth spooked

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Sun Pharma rallies for 2nd day, up 5% on distribution rejig
NEW DELHI: Notching up gains for second straight day, India’s largest drugmaker Sun Pharma jumped 5 per cent early Tuesday.

The company on Tuesday said it will make its unit new distributor for its domestic formulations business, discontinuing super stockist arrangement with Aditya Medisales.

"Sun Pharma’s distribution related to India Domestic F

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Share market update: Auto shares in red; Ashok Leyland slips over 3%
NEW DELHI: Auto shares were trading in red in Tuesday's morning session.

Shares of Ashok Leyland (down 3.53 per cent), TVS Motor Company (down 2.71 per cent), Mahindra - Mahindra (down 2.30 per cent ) and Motherson Sumi Systems (down 1.50 per cent) were worst performers in index.

Maruti Suzuki India (down 1.21 per cent), Exide Industries

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Tech View: Nifty forms 'Hanging Man' pattern as bulls cede some ground
NEW DELHI: The Nifty50 on Tuesday snapped a five-session winning streak and ended up forming a ‘Hanging Man’ candle on daily chart, suggesting bulls might have started losing control.

The index’s structure, however, suggested that it still has potential to stretch towards 11,000-11,070 range to complete its last leg of Ending Diagonal pattern.

But

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Sun Pharma restructures certain business decisions to address corporate governance issues
On Tuesday's opening trade shares of Sun Pharma recovered in green after company announced restructuring of certain business transactions that includes merging of its domestic drug distribution company, unwinding of certain loans and replacing one of auditors. The issues in last two months had become discomfort to investors that had dragged Sun
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Asian Paints Q3 results today; herewhat to track
Asian Paints is likely to report a double-digit rise in net sales and profit for quarter ended December 2018 today.

Emkay Global Financial Services sees a year-on-year growth of 14 per cent and 11 per cent in net sales and profit of Asian Paints.

The brokerage house expects strong traction in domestic decorative paints to drive 11 per cent

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F O: Nifty50 must hold 10,850 level to move towards 10,985 mark
By Chandan TapariaThe Nifty50 failed to hold on to its previous session’s gains on Tuesday and drifted towards 10,865 level. However, index recovered from low point of day to close with a loss of 40 points.

Since past nine weeks, Nifty has been struggling to surpass 10,985 level and absence of follow-up buying has taken index lower.

On Tuesday,

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Share market update: Realty shares mixed; Indiabulls Real Estate slips 3%
NEW DELHI: Realty shares were trading on a mixed note in Tuesday's morning session.

Shares of Prestige Estates Projects (up 2.65 per cent), Brigade Enterprises (up 1.38 per cent), Phoenix Mills (up 0.83 per cent) and Oberoi Realty (up 0.07 per cent) were top performers in index.

Indiabulls Real Estate (down 2.92 per cent ), DLF (down 0.79 per

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HUDCO Q3 profit up 27% at Rs 328 crore

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