StockMarket

Zensar Q3 profit dips 6% to Rs 57 crore
New Delhi: Mid-sized software services firm Zensar Technologies Monday reported a six per cent decline in consolidated net profit to Rs 56.51 crore during December 2018 quarter as compared to year-ago period.

The Pune-headquartered firm had posted net profit of Rs 60.17 crore in October-December 2017 quarter.

The net profit was negatively impacted

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Tech View: Nifty forms small bullish candle; weak market breadth a concern
NEW DELHI: The Nifty50 on Monday formed a small bullish candle on daily chart. The index managed to hit highe st level in four weeks in intraday trade, despite weakening market breadth.

Market breadth needs to improve, so does performance of trailing Nifty Bank, for any sustained up move.

For day, headline index rose 54.90 points, or 0.50 per

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LIC completes acquisition of 51% stake in IDBI Bank
IDBI Bank Monday said insurance behemoth LIC has completed acquisition of 51 per cent controlling stake in bank, making it lender's majority shareholder. "The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers - employees of
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Sebi settles cases with two entities in matter of Dalal Street Investments
New Delhi: Markets regulator Sebi Monday settled cases of alleged disclosure lapses by two entities in shareholding of Dalal Street Investments after they paid over Rs 37 lakh towards settlement fees.

According to two separate orders, entities S M Sheti Seva Pvt Ltd and Resham Resha Pvt Ltd had paid settlement fee of over Rs 19.2 lakh and over Rs

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Hindustan Zinc Q3 profit down 3.7% at Rs 2,211 cr
New Delhi: Vedanta Group firm Hindustan Zinc on Monday announced a 3.7 per cent decline in net profit at Rs 2,211 crore for December quarter.

The company had posted a net profit of Rs 2,298 crore in year-ago period.

Total income declined marginally by 1.8 per cent to Rs 6,090 crore, from Rs 6,203 crore in corresponding quarter of previous fiscal.

"

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Share market update: Nifty Private Bank index up; Kotak Bank rises nearly 2%
NEW DELHI: Shares of private sector bank were trading on a mixed note with Nifty Private Bank index up in Monday's afternoon trading session.

The Nifty Private Bank index was trading 0.32 per cent up at 15,555.05 around 02:05 pm.

Shares of Kotak Mahindra Bank (up 1.44 per cent), RBL Bank (up 1.06 per cent), HDFC Bank (up 1.04 per cent) and ICICI

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NCLAT dismisses Jignesh Shah plea against insolvency of his investment firm La-Fin Financial Services
New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed petitions filed by erstwhile MCX promoter Jignesh Shah and others challenging an NCLT order that allowed insolvency proceedings against investment firm La-Fin Financial Services.

Jignesh Shah along with Pushpa Shah and others had appealed against order of Mumbai

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F O: Nifty can now extend rally towards 11,080-11,176 levels
By Chandan TapariaThe Nifty50 finally managed to surpassed 10,930 level on Monday, and gradually rallied towards 10,987 mark. The index formed a bullish candle on daily chart and managed to hold above 10,880-10,900 zone .

Now, till it holds above 10,850-10,880 area it can witness an up move towards 11,080 and then 11,176 levels, while on

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Commodity outlook: MCX Crude oil may touch Rs 3,950 mark
NEW DELHI: Gold and crude oil prices climbed in futures trade on Monday amid a firming global trend.

Oil prices rose to their highest for 2019 after data showed refinery processing in China, world's second-largest oil consumer, climbed to a record in 2018, despite a slowing economy last year, Reuters reported.

Prices are further being supported

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NCLT approves merger of Tata Teleservices with Bharti Airtel
New Delhi: The National Company Law Tribunal has approved merger of loss-making telecom firm Tata Teleservices with Bharti Airtel, according to an exchange filing on Monday.

The merger is subject to approval of Department of Telecommunications (DoT).

"Hon'ble National Company Law Tribunal, New Delhi, Principal Bench, vide its order dated January

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Sensex, Nifty push higher for 5th day as RIL stands tall
NEW DELHI: Led by gains in RIL and IT giant Infosys, key benchmark indices rose over half a percent each on Monday.

This was fifth consecutive session of gains for Indian stocks. After opening on a subdued note, markets rose steadily barring a few hiccups on strong December quarter results from some of index large caps.

Positive Asian markets

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NEW DELHI: Kotak Mahindra Bank on Monday reported a 23 per cent year-on-year (YOY) jump in standalone profit-after-tax at Rs 1,291 crore for December quarter, slightly better than Rs 1,273 crore anticipated by analysts in an ET Now poll.

"In accordance with RBI communication, provision for mark-to-market depreciation on AFS and HFT investments

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Governance concern to remain overhang on Sun Pharma, say analysts
Mumbai: Corporate governance issues will continue to linger in Sun Pharmaceutical Industries which is seeing a fresh turmoil after it emerged that there was a second whistleblower letter containing serious allegations of corporate governance lapses against company, said analysts.

"Till concrete steps are taken by company and regulators officially

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Goldman Sachs sees RBI rate cut next month as inflation slows
By Anirban NagGoldman Sachs Group Inc. expects India’s central bank to cut interest rates by a quarter percentage point in February, latest to add its voice to a chorus of calls for monetary policy easing.

The Wall Street bank said lower inflation projections, and expectations of a slower pace of U.S. policy rate hikes prompted it to shift its

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Share market update: Power shares trade lower; Adani Power slips 2%
NEW DELHI: The S-P BSE Power index was trading 0.19 per cent down at 1950.73 in Monday's afternoon trading session with most of its components trading in red.

Shares of Adani Power (down 2.07 per cent), Reliance Infrastructure (down 1.75 per cent), Torrent Power (down 1.68 per cent) and Thermax (down 1.51 per cent) were worst performers in

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L T Finance Q3 profit surges 81% to Rs 581 crore
L-T Finance Holdings, arm of engineering firm Larsen - Toubro, Monday posted a 81 per cent rise in consolidated net profit to Rs 581 crore during third quarter ended December 31, 2018.

The company's consolidated net profit stood at Rs 325 crore in year-ago period.

Total income of company also increased to Rs 3,516.38 crore during quarter

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China shares end higher as slowing GDP adds to stimulus hopes
SHANGHAI: China shares ended higher on Monday as investors shrugged off country's slowest rate of annual economic growth in 28 years amid expectations that authorities will pursue more stimulus to support growth.

At close, Shanghai Composite index was up 0.56 per cent at 2,610.51.

The blue-chip CSI300 index was up 0.55 per cent, with its

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Nikkei ends at month high, softer yen boosts exporters
TOKYO: Japan's Nikkei advanced to a more than one-month high on Monday, tracking gains in US shares that helped buoy cyclical stocks such as shippers, while a weaker yen boosted exporters.

The Nikkei share average rose 0.3 per cent to 20,719.33, its highest close since Dec. 19.

The broader Topix rose 0.6 per cent to 1,566.37, with only 1.12

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After Market: RIL m-cap rises by Rs 63,862 crore in 2 days; 151 stocks look bearish
NEW DELHI: Indian headline indices Sensex and Nifty looked up for fifth consecutive session on Monday, driven by select heavyweights such as Reliance Industries, Infosys and Kotak Mahindra Bank.

Optimism stemming from Q3 earnings of blue chips, including RIL and HDFC Bank, and positive global cues created positive vibes.

World markets did not

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Howard Marks& tip for investment success: Master market cycle
Investment legend Howard Marks says recognizing and dealing with risks associated with ups and downs of market cycles and knowing our position in these cycles are two key ingredients required for becoming a successful investor.

There are different cycles that influence financial markets, ranging from macro economy to credit, investor sentiment

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Share market update: Telecom shares dip; Vodafone Idea slumps 6%
NEW DELHI: Telecom shares declined with S-P BSE Telecom index down in Monday's afternoon trading session.

Shares of Vodafone Idea (down 6.39 per cent), GTL (down 3.94 per cent), Vindhya Telelinks (down 2.95 per cent)and Reliance Communications (down 1.72 per cent) were worst performers in index.

Bharti Infratel (down 1.28 per cent), Tata

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ONGC share buyback to open from Jan 29-Feb 11
New Delhi: State-owned Oil and Natural Gas Corp's (ONGC) Rs 4,022 crore share buyback programme will open on January 29 and close on February 11, company said in its offer letter to shareholders.

ONGC's board had on December 20 approved buyback of 25.29 crore shares for Rs 159 apiece as part of government plan to get cash-rich PSUs to part with

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Buy Federal Bank, target Rs 121: LKP Securities
LKP Securities has a buy call on Federal Bank with a target price of Rs 121.

The current market price of Federal Bank is Rs 89.80.

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

Investment rationale by brokerage- Higher asset growth and better fees led to a surge in PPOP: Advances continue to grow at a

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Share market update: OMCs trade mixed; RIL jumps over 3%
NEW DELHI: OMCs were trading on a mixed note in Monday's afternoon trading session.

The S-P BSE Oil - Gas index was trading 0.60 per cent up at 13,659.63 around 12:25 pm on Monday.

Shares of Reliance Industries (up 3.38 per cent), Indraprastha Gas (up 2.77 per cent), GAIL (India) (up 0.99 per cent) and Petronet LNG (up 0.69 per cent) were

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Buy Aurobindo Pharma, target Rs 920: Phillip Capital (India)
Phillip Capital (India) has a buy call on Aurobindo Pharma with a target price of Rs 920.

The current market price of Aurobindo Pharma is Rs 776.

Time period given by brokerage is one year when Aurobindo Pharma price can reach defined target.

Investment rationale by brokerage-ARBP to acquire a portfolio of oncology injectables in US: ARBP has

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Buy PSP Projects, target Rs 590: Edelweiss Broking
Edelweiss Broking has a buy call on PSP Projects with a target price of Rs 590.

The current market price of PSP Projects is Rs 408.15.

Time period given by brokerage is one year when PSP Projects price can reach defined target.

Investment rationale by brokerage:A disciplined building contractor with strong order book and revenue visibility: PSP

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Share market update: Bank shares decline; YES Bank dips 1%
NEW DELHI: Most bank shares were trading in negative zone in Monday's afternoon trading session.

Shares of YES Bank (down 0.96 per cent), Punjab National Bank (down 0.91 per cent), State Bank of India (down 0.73 per cent) and Kotak Mahindra Bank (down 0.71 per cent) were worst performers in index.

IndusInd Bank (down 0.59 per cent), Bank of

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Buy Kajaria Ceramics, target Rs 610: Reliance Securities
Reliance Securities has a buy call on Kajaria Ceramics with a target price of Rs 610.

The current market price of Kajaria Ceramics is Rs 537.25.

Time period given by brokerage is one year when Kajaria Ceramics price can reach defined target.

Investment rationale by brokerage-Strong sales volume drives revenue: KJC’s sales volume grew by a strong 1

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Kotak Bank stock jumps after in-line Q3 results
NEW DELHI: Private lender Kotak Mahindra Bank made a quick turnaround on Monday after its December quarter earnings came in line with expectations.

Around 1 pm, stock rallied by over 1 per cent to Rs 1,251 on BSE, but not before staying in red earlier on.

Kotak Bank reported a 23 per cent year-on-year (YoY) jump in standalone profit at Rs 1,291

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Top intraday trading ideas for afternoon trade for Monday 21 January 2019
NEW DELHI: Equity benchmarks Sensex and Nifty50 were trading higher on Monday on account of buying 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.comMotherson Sumi is a 'Buy' call with a target price

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