StockMarket

Central Bank to raise Rs 200 crore via employee stock purchase plan
NEW DELHI: State-owned Central Bank of India Friday said it will raise about Rs 200 crore by issuing shares to staff under the employee stock purchase scheme.

The board of directors of the bank at their meeting held on December 28, 2018 approved the proposal to raise capital by issuance of shares to employees through Employee Stock Purchase Scheme

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Buy Somany Ceramics; target Rs 410: ICICI Direct
ICICI Direct has a buy call on Somany Ceramics with a target price of Rs 410.

The current market price of Somany Ceramics is Rs 327.

Time period given by the analyst is one year when Somany Ceramics price can reach the defined target.

Investment rationale by the brokeragePoised for double-digit volume growth in FY20E: Operational turbulence

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Share market update: Consumer Durables shares trade higher; Titan up 3%
NEW DELHI:The S-P BSE Consumer Durables index was trading 1.77 per cent up at 20,477.13 around 02:05 pm on Friday with most of its components trading higher.

Shares of Titan Company (up 3.30 per cent), Whirlpool of India (up 2.22 per cent) and Symphony (up 1.39 per cent) were the top performers in the index.

Blue Star (up 1.22 per cent), TTK

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MUMBAI: The number of ATMs has declined marginally to 2.07 lakh in FY18 from 2.08 lakh in FY17, primarily due to branch rationalisation by a few public sector banks, the Reserve Bank said in its annual report Friday.

Similarly, the number of operational on-site ATMs too came down to 1.06 lakh during the year from 1.09 lakh in FY17, while that of

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Buy Petronet LNG; target Rs 317: Motilal Oswal Securities
Motilal Oswal Securities has a buy call on Petronet LNG with a target price of Rs 317.

The current market price of Petronet LNG is Rs 225.80.

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

Investment rationale by the brokerage Increasing LNG glut to support prices: According to International

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Nikkei ends year with first annual loss since 2012
Tokyo's benchmark Nikkei index closed lower on Friday, ending the year with its first annual loss since 2012, as negative factors including US-China trade tensions weighed on the market.

The bellwether index lost 12.1 percent from a year earlier to end at 20,014.77 in roller-coaster trade, while the broader Topix index was down 17.8 percent in

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RBI says banks under PCA report slower NPA growth in FY18
MUMBAI: The 11 public sector banks that are under the prompt corrective action (PCA) framework have shown lower growth in gross non-performing assets as against non-PCA banks, the Reserve Bank said in a report Friday.

Of the 21 state-owned banks, as many as 11 are under the PCA framework, which imposes lending and other restrictions on weak

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Buy Aavas Financiers; target Rs 1,014: Edelweiss Financial Services
Edelweiss Financial Services has a buy call on Aavas Financiers with a target price of Rs 1,014.

The current market price of Aavas Financiers is Rs 818.30.

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

Investment rationale by the brokerageWell invested to be bigger, better and stronger: Rid

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Lemon Tree Hotels climbs 12% on forming JV with Warburg Pincus affiliate
NEW DELHI: Shares of Lemon Tree Hotels jumped 12 per cent in Friday’s trade after India's largest chain in the mid-price hotel segment formed a joint venture (JV) with an affiliate of Warburg Pincus.

The JV marks Lemon Tree Hotel's entry into a new business segment focusing on the development of institutional-grade rental housing accommodation.

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The Reserve Bank of India has called for strengthening the National Company Law Tribunal(NCLT) infrastructure to ensure time bound resolution of stressed assets of the banking sector. Better resolution will also depend on the future of loan repayment culture, it said

In its ` Trends and Progress in Banking for 2017-18’ released on Friday, in view o

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European shares climb after Wall Street bounce, caution prevails
European shares edged up on Friday, buoyed by a bounce on Wall Street as a turbulent week drew to a close and investors licked their wounds after the region's benchmark STOXX 600 sank to its lowest level since US President Donald Trump's election.

The STOXX 600 was up 1 per cent by 0827 GMT with Britain's FTSE 100 up 1.2 per cent. The pan-European

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Share market update: Nifty PSU Bank index up 1%; OBC, BoB among top gainers
NEW DELHI: The Nifty PSU Bank index was trading 1.16 per cent up at 3084.2 around 10:24 am on Friday with all its components trading higher.

Shares of Central Bank of India (up 3.03 per cent) , Union Bank of India (up 2.74 per cent) , Syndicate Bank (up 2.10 per cent) and Indian Bank (up 1.90 per cent) were the top gainers in the index.

Oriental

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RBI to ensure sustainable growth of NBFCs with adequate credit
In spite of the previlaing concerns around non-bank lenders due to defaults by industry major IL-FS, the Reserve Bank Friday said it will ensure that growth in the shadow-banking sector is sustained and liquidity fears are eased.

The NBFC sector is liquidity crisis after a series of defaults by Infrastructure Leasing - Financial Services

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PVR to raise Rs 750 crore, seeks shareholders nod
New Delhi: Multiplex chain operator PVR on Friday said it is planning to raise up to Rs 750 crore through issue of securities to qualified institutional buyers, for which it is seeking shareholders' nod.

In a regulatory filing, PVR said its board had on December 21 approved issue of equity shares of the company with a face value of Rs 10 each or

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India Inc lost 39 billion-dollar babies in 2018 as the midcap mayhem singed
NEW DELHI: The billion-dollar universe of Indian market shrank 15 per cent in 2018 in the worst-ever year for midcaps since 2011. Market capitalisations (m-cap) of at least 39 stocks slipped below the $1 billion (or roughly Rs 7,000 crore) mark amid the market mayhem. Analysts are still split in their outlook for the midcaps in the event-heavy
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After Market: 78 stocks giving bullish signals; Lupin, ACC above 200-DMAs
NEW DELHI: Indian stock market closed the week on a positive note on Friday, backed by decent gains in bank and financial stocks amid positive global cues.

Softening crude oil prices and rupee's rise against the dollar also helped.

The optimism around liquidity boost by the government lifted bank and NBFC heavyweights.

After rising 388 points

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Share market update: Nifty private bank index rises; YES Bank gains over 2%
NEW DELHI: Shares of private sector banks were trading in the positive zone with the Nifty Private Bank index up 1.04 per cent at 15,285.15 around 02:34 pm on Friday.

Shares of YES Bank (up 2.25 per cent), South Indian Bank (up 1.65 per cent), ICICI Bank (up 1.62 per cent) and Axis Bank (up 1.08 per cent) were the top performers in the index.

Indus

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Share market update: Auto shares in the green; Tata Motors up nearly 2%
NEW DELHI: The Nifty Auto index was trading 0.70 per cent up at 9248.55 around 10:13 am on Friday with most of its components trading in the green.

Shares of Tata Motors (up 1.69 per cent), Apollo Tyres (up 1.64 per cent), Tata Motors (up 1.59 per cent) and Ashok Leyland (up 1.12 per cent) were the top performers in the index.

Mahindra -

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Tech view: Nifty forms small bullish candle but bears are still in the game
NEW DELHI: Nifty50 on Friday climbed for a third straight session and formed a small bullish candle on the daily chart. The index made higher high higher low formation for the second in a row, suggesting momentum was shifting in favour of the bulls.

That said, the tug of war with the bears is evenly balanced. Levels around 10,890 would be crucial

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Nifty reclaims 10,850 level; five key factors that fuelled the rally
NEW DELHI: Domestic equities extended gains for a third consecutive session on Friday, backed by across the board buying following positive global cues.

Index heavyweights, including Sun Pharma, HDFC twins, Reliance Industries, ICICI Bank, L-T and ITC traded with gains.

Here’s a look at the key boosting market sentiment:Strong global showAsia

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US ETF investors hasten exodus from financials
Investors are fleeing the largest exchange-traded fund tracking US financial stocks at the fastest monthly pace on record, having withdrawn more than $3.5 billion from it through December 24.

Outflows from the $21 billion Financial Select SPDR Fund, or XLF, are driving the record $9.2 billion that’s been pulled from all ETFs tracking financials t

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F O: Nifty may hit 10,985 level if it holds above 10,750-10,777
By Chandan TapariaThe NSE Nifty opened positive and witnessed buying interest towards the 10,900 level. The index formed a bullish candle on the daily scale and Hammer candle on the weekly chart, suggesting declines were being bought into the market.

Now, till the index holds above the 10,750-10,777 zone it can extend it move towards the

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Share market update: BSE Capital Goods index up; NBCC surges over 5%
NEW DELHI:The S-P BSE Capital Goods index was trading 1.21 per cent up at 18,817.68 around 02:18 pm on Friday with most of its components trading in the positive zone.

Shares of NBCC (India) (up 5.46 per cent), Elgi Equipments (up 4.91 per cent), GE T-D India (up 3.69 per cent) and Bharat Heavy Electricals (up 2.79 per cent) surged.

CG

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D B Realty, Lemon Tree Hotels among top gainers on BSE
NEW DELHI: The domestic equity benchmark BSE Sensex was trading 335.97 points up at 36,143.25 on Friday on account of buying in frontline bluechip counters.

Shares of Alpine Housing (up 15.29 per cent) , Krypton Industries (up 12.78 per cent) , Saboo Sodium (up 12.68 per cent) , Zenith Fibres (up 12.62 per cent) , Arshiya (up 11.06 per cent) ,

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Sensex, Nifty log gains for 3rd day as bank stocks spurt
NEW DELHI: It was the third straight day of gains for the domestic equity market, thanks to a bounce in Wall Street in overnight trade and a rise in bank and financial stocks.

A strong rupee further strengthened investor sentiment on Dalal Street. The domestic currency gained 46 paise in intraday trade to hit a high of 69.90 against the US

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Investors more wary of Donald Trump than of Wall Street
By Conor Sen

Stock market losses and volatility, particularly in financial stocks, have people worried about, well, everything.

This recent selloff is historic in scale but strange because so far, it's hard to identify a specific culprit behind it. The jitters could be chalked up to the hawkishness of the Federal Reserve, the flattening of the

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Future Retail, Nagpur Power among top losers on BSE
NEW DELHI: The domestic equity benchmark BSE Sensex was trading 337.70 points up at 36,144.98 on Friday on account of buying in frontline bluechip counters.

Shares of Nagpur Power (down 17.31 per cent), Vamshi Rubber (down 10.89 per cent), Blue Blends (down 9.75 per cent), Karma Energy (down 9.65 per cent), India Gelatine (down 9.45 per cent),

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Buy JK Lakshmi Cement; target Rs 340: ICICI Securities
ICICI Securities has a buy call on JK Lakshmi Cement with a target price of Rs 340.

The current market price of JK Lakshmi Cement is Rs 288.30.

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

Investment rationale by the brokerage:We believe JK Lakshmi Cement (JKLC) is likely to outperform

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Australian shares clock weekly gains as Wall Street extends rally; NZ up
Australian shares ended the day and the week in positive territory on Friday, buoyed by an extended comeback rally on Wall Street, which supported sentiment across Asia Pacific markets.

The S-P/ASX 200 index closed 1 per cent higher at 5,654.30. The benchmark advanced 1.9 per cent on Thursday.

U.S. equities climbed on Thursday after an initial

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RBI Guv makes time for old Finance Ministry colleague
Despite the harsh media glare,endless meetings and the strain of the new responsibility, RBI governor Shaktikanta Das took some time off this week to attend the wedding reception of former senior bureaucrat Thomas Mathew’s son. Mathew was previously in the race for the post of Sebi chairman.

The reception, which was hosted at Hotel Ashok in New

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