StockMarket

By Lu Wang

Prices bounce around, emotion obscures logic, signals appear and vanish. The reasons for treating equities as a poor barometer for the economy are many. Right now, that might be for the best.

Pools of gloom await anyone looking for a message in stocks. There’s the $3 trillion in value erased, the bloodbath in banks and the trouncing in t

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Microfin companies back in market to raise funds
KOLKATA: The microfinance sector is slowly getting into the fund raising mode with prospects of a revival of business expansion after a two-month caution amid credit squeeze.

Kolkata-based Village Financial Services is finalising plans to expand equity by Rs 50-70 crore by way of raising capital from local investors, while Delhi-based Satin

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Sebi to auction Sai Prasad Group's 162 properties next month
NEW DELHI: Markets regulator Sebi will auction as many as 162 properties of Sai Prasad Group of firms and three of its directors next month in order to recover funds worth thousands of crores raised by the entity through illicit collective investment schemes. The move comes after Securities and Exchange Board of India (Sebi) had already auctioned
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As offshore markets hold sway over USD-INR, rupee seeks to break free
By Bharat Rathod-Partha Bhattacharyya

If the history of the rupee were to be written, the story of its evolution would sound like one of a long era of steady controlled growth and liberalisation since the 1990s in line with the rest of the economy.

It’s almost hard to believe that even in the early 2000s, the first spot rupee quote just before 9

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MUMBAI: Stock brokers have sought exemption of long-term capital gains tax (LTCG) on securities held for three years or more, withdrawal of dividend distribution tax (DDT), abolition of stamp duty on stock exchange transactions and a higher limit for investment under Section 54EC of the Income Tax Act.

The Association of National Exchanges

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Buy Bandhan Bank; target Rs 650: JM Financial
JM Financial has a buy call on Bandhan Bank with a target price of Rs 650.

The current market price of Bandhan Bank is Rs 527.30.

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

Investment rationale by the brokerageSingle-lender relationship key to asset quality: Management believes in being a

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By DK Aggarwal

dk The performance of the tyre industry is directly linked to the performance of the automobile industry and demand swings in any of the auto segments (commercial vehicles, cars, two-wheelers) have direct impact on it. With the expected growth in the automobile sector, there is an assumption that tyre companies would continue to see

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Therea compelling reason for a rate cut: Chris Wood
MUMBAI: Indian financial markets have started to price in the possibility of renewed monetary policy easing with the appointment of Shaktikanta Das as the Reserve Bank of India governor earlier this week, said CLSA’s chief strategist Christopher Wood.

With the policy repo rate 4.2 percentage points higher than consumer price inflation, there

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Buy Brigade Enterprises; target Rs 290: Nirmal Bang Institutional Equities
Nirmal Bang Institutional Equities has a buy call on Brigade Enterprises with a target price of Rs 290.

The current market price of Brigade Enterprises is Rs 200.25.

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

Investment rationale by the brokerage: Commercial and retail portfolio

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The stock market surprised everyone during the week gone by, as there was no panic selling after the Congress’ win in major states, which proved that realities of economic dynamics is always the guiding factor and politics is only sentiment, which has negligible shelf life.

Post the rollercoaster ride, Indian bourses strengthened midway through

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Village Financial looks to raise Rs 50-70 crore equity in January
Kolkata: Microfinance company Village Financial Services is finalising plans to raise Rs 50-70 crore by way of raising capital through local stock investors.

"The sector is slowly coming out of the liquidity tightness. The fresh infusion will help us leverage better," Village Financial's Managing Director Kuldip Maity told ET.

"We are in dialogue

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Hold Ambuja Cements; target Rs 225: Edelweiss Financial Services
Edelweiss Financial Services has a hold call on Ambuja Cements with a target price of Rs 225.

The current market price of Ambuja Cements is Rs 219.10.

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

View of the brokerage on the company:

Capex in line with LafargeHolcim’s recent capital c

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US sets new March 2 date for China tariff increases amid talks
WASHINGTON: The US Trade Representative's office on Friday officially changed the scheduled date of a tariff rate increase on $200 billion worth of Chinese goods to 12:01 a.m. EST (0501 GMT) on March 2, 2019 as the United States and China pursue talks on trade and intellectual property.

The change was made in a Federal Register filing from a

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No need for smaller brokers to go for own cyber security: Sebi
Mumbai: Small stock brokers will not be required to have their own cyber security framework and can use the facility set up by stock exchanges.

"During the discussions held with the market participants, it was gathered that compliance with the cyber security guidelines may be onerous for smaller intermediaries because of the lack of knowledge in

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Motherson Sumi in early-stage merger talks with Leoni: Sources
FRANKFURT/HONG KONG: Indian car wiring maker Motherson Sumi Systems Ltd is in early talks with German peer Leoni AG over a possible merger of the pair, two people close to the matter said.

The car industry and its suppliers, facing a regulatory crackdown on diesel emissions and a slump in China, have issued a slew of profit warnings in recent

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J J shares nosedive on report it knew of asbestos in baby powder
Shares of Johnson - Johnson fell 10 per cent on Friday and were on track to post their biggest per centage drop in more than 16 years, after Reuters reported that the pharma major knew for decades that cancer-causing asbestos lurked in its Baby Powder.

The decline in shares erased about $40 billion from the company's market capitalisation,

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Satin raises $30 mn in bonds from Netherland's FMO
Kolkata: Satin Creditcare Network has raised $30 million in bonds from the Netherlands Development Finance Company (FMO) at a time when the sector is slowly getting over the credit squeeze hangover.

Satin, the third largest MFI in terms of gross loan portfolio, said the fund-raising will help it in business expansion in new territories.

The MFI

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Accumulate Exide Industries; target Rs 276: Geojit Financial Services
Geojit Financial Services has an accumulate call on Exide Industries with a target price of Rs 276.

The current market price of Exide Industries is Rs 256.5.

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

View of the brokerage on the company:

Revenue growth stablelead price shows

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Wall Street tumbles on global growth worries, J J decline
Wall Street's three major indexes tumbled on Friday and the Dow confirmed a correction as weak data from China and Europe stoked fears of a global economic slowdown, while Johnson - Johnson shares were the biggest drag after Reuters reported the company knew for decades that its Baby Powder contained asbestos.

The S-P 600 small cap index

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After market: Telcos ring louder; Reliance ADAG in a sweet spot
NEW DELHI: Headline indices Sensex and Nifty managed to finish Friday's session with mild gains after a seesaw session as speculations about the RBI board meet outcome kept investors at bay.

Weak global cues also weighed on sentiment. Global stocks suffered losses on concerns of China's slowing economic growth after data showed China’s November r

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Airtel, Vodafone Idea gain up to 10% after TDSAT rejects predatory pricing rules
NEW DELHI: Shares of Bharti Airtel and Vodafone Idea Friday surged up to 10 per cent a day after the telecom tribunal TDSAT struck down Trai's new rules on predatory pricing saying they lacked required transparency. Shares of Bharti Airtel increased 9.97 per cent to Rs 332.9, while Vodafone Idea gained 8.02 per cent to Rs 37.7 on the BSE, during
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‘Small brokers don&t need own security centres&
MUMBAI: Small stock brokers will not be required to have their own cyber security framework and can use the facility set up by stock exchanges, a Sebi circular on Friday said.

“During the discussions with the market participants, it was gathered that compliance with the cyber security guidelines may be onerous for smaller intermediaries because of

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F O: India VIX slips 3.21%, shows bulls holding tight grip on market
By Chandan Taparia

The Nifty50 index opened flat and remained rangebound for the entire session. It formed an Inside Bar on the daily scale and a Bullish Candle on the weekly scale, which suggested buying interest at lower levels.

Now, it has to hold above 10,700 to extend its move towards 10,880 and then 10,929 levels, while on the downside

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European shares sink as China data derails hopes of Santa rally

LONDON: European shares were sharply lower in early trade on Friday as weak Chinese data renewed worries about the health of the world's second-largest economy and potential damage from Washington's protracted trade spat with Beijing.

The euro zone STOXXE index was down 1.4 per cent at 0834 GMT with most bourses across the continent in the red.

The

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Wall Street collapses, S P 500 ends at lowest since April
US stocks fell sharply on Friday as investors grew concerns over a possible slowdown of the global economy and a slew of corporate news.

The Dow Jones Industrial Average was down 496.87 points, or 2.02 percent, to 24,100.51. The S-P 500 decreased 50.59 points, or 1.91 percent, to 2,599.95. The Nasdaq Composite Index fell 159.67 points, or 2.26

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Tech view: Nifty50 forms a small white candle; bulls are in charge
The Nifty50 index closed a session of rangebound trade on a flat note on Friday. After moving in a range of 63 points, the index settled the day 0.13 per cent higher at 10,805.

During the process, it formed a small white-bodied candle on the daily chart. The index had opened the session 7 points down at 10,784.

Milan Vaishnav, Technical Analyst,

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Hong Kong stocks fall as China posts weak consumer, factory data
SHANGHAI: Hong Kong stocks slid on Friday, as concerns deepened over the health of the world's second largest economy after China posted weak consumer and factory data.

The Hang Seng index fell 1.6 per cent to 26,094.79, while the China Enterprises Index lost 1.9 per cent to 10,359.43 points.

For the week, HSI was up 0.1 per cent, while HSCE

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Trouble mounts for Jet as SBI appoints EY to audit its books
MUMBAI/KOLKATA: State Bank of India has appointed advisory firm EY to conduct a forensic audit of the books of Jet Airways, the financially stretched airline that has sought liquidity assistance from the country’s biggest lender, two people aware of the development told ET.

The investigation would stall fresh SBI loan disbursements to India’s s

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Sensex, Nifty rule steady, end positive for fourth day
NEW DELHI: Domestic markets extended their winning run to the fourth straight day on Friday and ended the choppy session on a flat note ahead of RBI board meet outcome.

Stock specific action marked the session although weakness in the rupee and global markets put a lid on the gains.

The BSE Sensex closed up 33.29 points, or 0.09 per cent, at

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RBI board meet: No decision on PCA norm review or liquidity yet
NEW DELHI: The much-anticipated RBI board meeting under new Governor Shaktikanta Das took no major decision on liquidity or PCA norms review today.

The board, which reviewed the current economic situation, was of the view that the governance framework needs to be examined further.

ETNow reported that the next board meet will be held in January and

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