StockMarket

China shares slide as profits weaken despite support measures
SHANGHAI: China shares sank on Monday as weak profits for industrial and consumer firms added to concerns over the slowing economy, highlighting growing investor scepticism over the effectiveness of Beijing's attempts to stabilize its stock markets.

The blue-chip CSI300 index closed 3.0 per cent lower at 3,076.89 points, while the Shanghai

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ICICI Bank surges 7% after Q2 results; what brokerages say
NEW DELHI: Shares of ICICI Bank climbed 7 per cent in Monday’s trade after the lender came up with better-than-expected quarterly numbers for the September quarter.

“Barring the tepid profitability, it was a quarter full of positives for ICICI Bank as the uptick in growth and NIMs sustained. Robust fee growth (up 17 per cent YoY), curtailed costs a

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Big pharma companies set to return to double-digit growth this fiscal: Crisil
NEW DELHI: After two consecutive years of single-digit expansion, big Indian drug firms are expected to return to double-digit growth in the current fiscal aided by recovery in US sales, weakening of the rupee and revival of domestic demand, ratings agency Crisil said.

The return to double-digit growth would help the homegrown pharma companies,

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Nikkei dragged down by dismal global mood, bargain hunters limit losses
TOKYO: Japanese stocks slipped on Monday as further weakness in US and Chinese shares dampened investor sentiment, although bargain hunting helped limit overall losses.

The Nikkei swerved in and out of the red in a choppy session reflective of recent turbulence in global markets. The benchmark ended the day down 0.16 per cent at 21,149.80, after

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ETMarkets.com|

Oct 29, 2018, 10.26 AM IST

Jay Thakkar of Anand Rathi has a sell call on Cipla with a target price of Rs 576.

The current market price of Cipla is Rs 611.20.

Time period given by the analyst is two weeks when Cipla price can reach the defined target.

Jay Thakkar recommended keeping a stop loss at Rs 620.

"The stock has broken the

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Tweet Buster: How to look at NBFC stocks now rupee-Nifty correlation
NEW DELHI: A global selloff in equities, growing domestic macro concerns and uninspiring earnings have created a bitter pill that the bulls had to swallow as they took to bed for the second straight week.

The market’s volatile ride didn't go unnoticed. In some 240 characters, Dalal Street mavens tried to sum up what went amiss, what could be done a

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Penny club swells 50% in crash, but don&t fall for big names at low prices
NEW DELHI: With equity benchmarks Sensex and Nifty taking a U-turn in the second half of 2018, the club of penny stocks has swelled fast.

Several prominent companies wrestling with large debt piles, corporate governance issues or sectoral headwinds have fallen to mouth-watering price levels, luring gullible investors to lap up these shares.

But

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ETMarkets.com|

Oct 29, 2018, 10.25 AM IST

KPIT TechnologiesThe current market price of KPIT Technologies is Rs 220.60.
Gaurav Ratnaparkhi of Sharekhan by BNP Paribas has a buy call on KPIT Technologies with a target price of Rs 240.

The current market price of KPIT Technologies is Rs 220.60.

Time period given by the analyst is two weeks when KPIT Technologies price

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Govt plans global ETF in FY20 to tap overseas pension funds
NEW DELHI: The Finance Ministry is planning to launch a global exchange traded fund (ETF) with a view to attracting long-term investment from overseas large pension fund houses.

The new ETF, which will be constituted after studying the appetite of large investors, is being planned for launch in the next financial year, an official said.

Initially,

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Dr Reddyrallies 5% on smart Q2 numbers
Shares of Dr Reddy’s Laboratories advanced over 5 per cent on Monday morning after the company said its profit after tax for the September quarter grew 77 per cent.

Net profit rose to Rs 504 crore in July-September against Rs 387.6 crore in the same quarter of FY18.

Revenue increased to Rs 3,797.80 crore in Q2 FY19 over Rs 3,720.70 crore a year

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Buy KPIT Technologies, target Rs 245: Nagaraj Shetti, HDFC Securities
Nagaraj Shetti of HDFC Securities has a buy call on KPIT Technologies with a target range of Rs 238-245.

The current market price of KPIT Technologies is Rs 220.70.

Time period given by the analyst is two weeks when KPIT Technologies price can reach the defined target.

Nagaraj Shetti recommended keeping a stop loss at Rs 199.

"After showing a

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Reliance Nippon AMC files draft papers for 4th tranche of CPSE ETF
NEW DELHI: Reliance Nippon Life Asset Management (RNAM) has filed draft papers with capital markets watchdog Sebi for the fourth tranche of CPSE Exchange Traded Fund.

Through the three tranches of CPSE ETF, the government has already raised Rs 11,500 crore -- Rs 3,000 crore from the first tranche in March 2014, Rs 6,000 crore from the second

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Share market update: Realty shares trade mixed; Unitech dips around 5%
NEW DELHI: Realty shares were trading mixed with the Nifty Realty index trading 0.54 per cent up at 206.5 around 11:04 am on Monday.

Shares of Godrej Properties (up 3.57 per cent), Sunteck Realty (up 3.16 per cent), DLF (up 0.58 per cent) and Indiabulls Real Estate (up 0.57 per cent) were the top performers in the index.

Unitech (down 4.55 per

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Share market update: IT shares trade higher; Tata Elxsi, Tech Mahindra up 1%
NEW DELHI: The Nifty IT index was trading 0.52 per cent up at 13,870.75 around 10:25 am on Monday with most of its components trading in the green.

Shares of Tata Elxsi (up 1.38 per cent), Tech Mahindra (up 1.32 per cent), NIIT Technologies (up 1.26 per cent) and MindTree (up 1.17 per cent), were among the top performers.

Tata Consultancy

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What I read this week: Do fund managers really care about you Govt in a Catch 22
The sudden downturn in financial markets is giving an opportunity to look over the shoulder: is you fund manager letting you down, is the music about to stop in the game of musical chairs in financial markets, are the domestic macros getting bad to worse

We sliced and diced through some interesting writings and reports to offer you glimpses of

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NBFCs set to reduce sale of commercial papers
For India’s non-banking finance companies (NBFC), shorter-maturity commercial papers were akin to T-bills, making up a fifth of the cash they typically borrowed. After the IL-FS default, that share is being drastically reduced, perhaps to less than a tenth, as these financiers seek to match their liability commitments with cash flows from a
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Niftyintermediate resistance seen at 10,200-10,300 zone
By Rahul SharmaAs a breakdown is visible on the charts, the Nifty could unfold a potential leg of down-move initially until 9,786 levels, according to technical analysts. However, a minor pullback cannot be ruled out and intermediate resistance for the index is now placed at 10,200-10,300, they said. One can look to buy Bajaj Finance, Hindustan
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FPIs stay bearish on India, pull out USD 5 billion in October so far
NEW DELHI: Foreign investors have pulled out a massive Rs 35,600 crore (about USD 5 billion) from the Indian capital markets this month on concerns over rupee depreciation, global trade war tiff and rising crude prices.

The latest outflow is higher than Rs 21,000 crore net withdrawals seen in entire September. Prior to that, overseas investors had

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10 stocks that can give decent gains even in a choppy market
NEW DELHI: The domestic equity market witnessed a turnaround and opened positive on Monday, with benchmark Sensex jumping 230 points and Nifty touching 10,083 mark in opening trade.

However, the headline indices failed to hold altitude and pared gains, taking cues from Asian peers as worries over corporate earnings and a slowdown in global

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DiviLaboratories shares rally over 11% post Q2 results
Shares of Divi’s Laboratories climbed over 11 per cent in early trade on Monday after the company on Saturday posted a 92.30 per cent year-on-year rise in net profit at Rs 397.65 crore for the quarter ended September 2018. It had posted a net profit of Rs 206.78 crore in the corresponding quarter last year.

Revenue from operations jumped 44.35 per

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Credit market worries, global cues among 10 factors likely to steer market next week
NEW DELHI: Yet again, the week gone by caused more wealth destruction on Dalal Street. Overwhelming pessimism, emanating from a plethora of negative news all around, made investors haplessly wait for positive triggers to emerge and bring in a turnaround.

The market has received a blow from domestic credit crisis, tepid September quarter earnings,

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Share market update: Nifty Pharma index rises; Divi's Lab surges 13%
NEW DELHI: The Nifty Pharma index was up 3.6 per cent at 9,443.2 around 10:41 am on Monday with all its components trading in the green.

Shares of Divi's Laboratories (up 13.12 per cent), Dr. Reddy's Laboratories (up 5.55 per cent), Aurobindo Pharma (up 3.49 per cent) and Sun Pharmaceutical Industries (up 3.08 per cent), were among the top

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ET Intelligence Group: Bajaj Auto’s strategy to gain a bigger share of the local motorcycle market at the cost of fatter margins compels investors to make a tough choice: Trust the Bajaj Auto brand and stick with it, or highlight the potential RoE contraction to justify investments elsewhere.

Given the prevailing uncertainty in the broader

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Eight of top 10 companies suffer Rs 1.35 lakh crore hit in market valuation
MUMBAI: Eight of the 10 most valued Indian firms suffered a combined loss of Rs 1,35,162.15 crore in market capitalisation last week with benchmark BSE Sensex diving around 3 per cent.

Tata Consultancy Services (TCS), Reliance Industries (RIL) and Infosys took a severe beating in market valuation while only two bluechips, HDFC and ICICI Bank,

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Cox Kings up 5% on education biz sale
NEW DELHI: Shares of Cox - Kings were locked at 5 per cent upper circuit limit on Monday after the company sold its education business to UK-based investor Midlothian Capital Partners (MCP) for Rs 4,387 crore.

The stock rose 5 per cent to hit a high of Rs 192.25 on the BSE at around 10.20 am today.

The education business comprises HB

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Magicbricks Q2 revenue up 74 per cent as double-digit growth continues
MUMBAI: Real estate portal Magicbricks has reported 74% on-year growth in the second quarter, with revenue touching `55 crore as it stayed on course for high double-digit breakout growth in the category.

The previous quarter saw revenue grow 48% on-year to Rs 47.5 crore, Magicbricks said in a release. The company also said the Magicbricks Android

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The Indian equity market failed to validate its supports and extended its losses during the week gone by. The equity benchmark ended the week 273.55 points, or 2.65 per cent, lower on a weekly basis.

The week ended October 5 saw some major structural damage on the charts, with the Nifty breaching its 30-month-long upward rising channel. Since

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NBFCs and HFCs& pullbacks, if any, can be sold into
Anand JamesWhere are We Optimism is low and fear is peaking. Usually, the approach of earning season is welcomed by a rise. But, this was seen missing ahead of Q2 season, despite considering the low-base we had after the month-long fall in September. Earnings released so far have not been exiting enough to change sentiments and the Nifty has lost
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An overdue technical pullback continued to evade the oversold domestic equity market, as the benchmark Nifty50 extended its losses for yet another day on Friday. After opening on a negative note, the market had recovered nearly all its gains by mid-session. However, the second half saw the recovery got pared again.

CaptureSubsequently, Nifty ended the

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By Elena Popina

Donald Trump loves to bash Jerome Powell, blaming him for the market meltdown. And while people can debate if the hectoring is a good idea and whether the Federal Reserve cares about stocks, it’s getting harder to argue the president is totally wrong.

Signs of Fed-fomented stress are everywhere, from slumping bank stocks to the 33

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