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Persistent Systems sinks as Q2 results disappoint
NEW DELHI: Software services maker Persistent Systems shares plunged as much as 16.5 per cent to Rs 552, their lowest level since July 2014.

The stock posted its biggest daily percentage loss since February 2.

The Q2 profit rose marginally to Rs 881 million($12.02 million), the compa ny said on Sunday.

Mix shift to offshore, project closures in

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Weakness continued to persist in the domestic equity market for most of the past week. On Friday, the Nifty opened deep in the red and drifted further to end the day with deep cuts despite some modest recovery from the low point o f the day. The Nifty50 ended the day lower by 149 points, or 1.43 per cent.

From Thursday’s intraday high, Nifty lost

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Government banking on acquisitions, share buybacks
NEW DELHI: Finance ministry is banking on merger and acquisitions among CPSEs and share buybacks by state-run companies to meet the Rs 80,000-crore disinvestment target for the current fiscal. The government has raised more than Rs 9,600 crore through IPOs of three CPSEs and a tranche of Bharat-22 ETF in the first six months of the fiscal so far.

A

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Buy Equitas Holdings, target Rs 140: Gaurav Ratnaparkhi
Gaurav Ratnaparkhi of Sharekhan has a buy call on Equitas Holdings with a target price of Rs 140.

The current market price of Equitas Holdings is Rs 123.55.

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

Gaurav Ratnaparkhi recommended keeping a stop loss at Rs 120.

"The stock witnessed a

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Tweet Buster: How to deal with bleeding stocks when to buy
It's a correction, keep calm!

It's only a correction, keep calm!!

For nearly six weeks now, all you have been hearing on Dalal Street is, it’s a correction and staying invested is the way to go.

Even as the market bleeds, veterans appear to be getting more conviction about an imminent recovery and stocks resuming their upward trajectory.

Sandip

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The week gone by saw a lot of volatility and remained fruitless for the market. What had been gained in the week before was all lost during this week. In our previous weekly note, we had mentioned that the market had enough room to pull itself back to around 10,700 mark.

This week saw Nifty test the 10,700 level, but it was precisely from this

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Buy National Aluminium Company, target Rs 73: Gaurav Ratnaparkhi
Gaurav Ratnaparkhi of Sharekhan has a buy call on National Aluminium Company (Nalco) with a target price of Rs 73.

The current market price of Nalco is Rs 66.40.

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

Gaurav Ratnaparkhi recommended keeping a stop loss at Rs 64.30.

"For last few sessions, the

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Mutual funds' exposure to banks hits 3-month low of Rs 1.88 lakh crore in Sept
Mutual funds' holding of banking stocks declined by over Rs 21,600 crore to Rs 1.88 lakh crore in September, driven by the correction in equity markets.

Overall deployment of equity funds in bank stocks stood at Rs 1,88,620 crore at the end of September as compared to Rs 2,10,251 crore in the preceding month, as per data available from the

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High noon in Brussels: Italy prepares for budget showdown
FRANKFURT: The European Central Bank's policy meeting will be relegated to a sideshow next week as the wrangle over Italy's budget takes the main stage.

The Italian government is looking to boost spending in the hope of engineering faster economic growth.

But its resolve to breach European Union fiscal rules will be put to the test as it faces a

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Buy Sun Pharmaceutical Industries, target Rs 655: Gaurav Ratnaparkhi
Gaurav Ratnaparkhi of Sharekhan has a buy call on Sun Pharmaceutical Industries with a target price of Rs 655.

The current market price of Sun Pharmaceutical Industries is Rs 613.50.

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

Gaurav Ratnaparkhi recommended keeping a stop

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FPIs pull out over $4 billion from markets in 3 weeks
New Delhi: Foreign investors have pulled out close to Rs 32,000 crore from the Indian capital markets in the first three weeks of this month due to the ongoing global trade tiff, rising crude prices and higher US treasury yields.

This is much higher than the over Rs 21,000 crore net outflow seen in entire September. Prior to that, overseas

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The week that was in 10 stocks: Mindtree, DHFL, Jet and others
NEW DELHI: Risk aversion globally, less-than-expected quarterly earnings from bluechip firms at home and looming concerns over the health of NBFCs dragged the benchmark stock indices lower during the truncated week gone by.

The BSE Sensex dropped 417.95 points, or 1.20 per cent, during the week to settle at 34,315 on Friday. Nifty50 tanked 168.95

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HDFC Bank stock jumps post Q2; should you buy
Shares of HDFC Bank rose early Monday as the lending major posted a 21 per cent year-on-year rise in net profit for the quarter to September.

The figure stood at Rs 5,005.73 crore as against Rs 4,151.03 crore in the same quarter last year.

The scrip was 1.38 per cent up at Rs 1,993 at around 9.30 am while the BSE Sensex was up 0.38 per cent at

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By Lu WangWith tech stocks suffering their worst month relative to the broader market in more than a year, Goldman Sachs has some advice for bears: make sure you’re selling for the right reason.

Elevated valuations and crowded positioning have been blamed for the waning leadership of the market’s biggest industry, along with everything from rising

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RBI objects to payments regulator outside its control
MUMBAI: The Reserve Bank of India (RBI) issued a rare public objection on Friday to a government-led panel's recommendation for payments systems to be overseen by a regulator that would be set up outside the central bank's control.

The panel proposed in August that a payments regulator should be established independent of the RBI, with a

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Share market update: Nifty Bank index up 1%;ICICI Bank, HDFC Bank shine
NEW DELHI: The Nifty Bank index was trading 0.81 per cent up at 25,290.05 around 10:29 am on Monday with its components trading on a mixed note.

Shares of ICICI Bank (up 2.04 per cent) , HDFC Bank (up 1.54 per cent) , Axis Bank (up 1.16 per cent) and State Bank of India (up 0.84 per cent) were among the top gainers.

RBL Bank (down 6.94 per

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NBFC crisis, earnings among 8 factors that will move market next week
NEW DELHI: The week gone by induced further pessimism in the market, as the benchmark indices saw deep cuts amid concerns over financial health and liquidity crisis in the NBFC sector, rising oil prices and a fast weakening rupee.

The BSE Sensex dropped 417.95 points, or 1.20 per cent, for the week to settle at 34,315 on Friday, while the Nifty50

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By DK AggarwalThe unwelcome combination of rising oil price and a weakening rupee is giving a tough time to investors, especially when the whole world is looking towards India as a ‘growth engine’. Now the billion dollar question is: will the rally in crude oil prices continue

Current account deficit is another concern. As per an SBI Economic

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MUMBAI: The market for loans against property (LAP), among the borrowing avenues that fuelled runaway growth among nonbanking finance companies until the recent liquidity squeeze, appears to be grinding to a halt as lenders are not keen on increasing their exposure, analysts and industry executives have said.

The borrowing instrument was the

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Strong loan book growth takes HDFC Bank Q2 net profit up by 21% YoY
HDFC Bank posted a 21% growth in net profit to Rs 5,006 crore for the quarter ended September 2018 compared to Rs 4,151 crore in 2017 largely due to a strong loan book growth of 24%.

High loan growth aided net interest income which increased 21% to Rs 11,763 crore in the quarter ended September 2018 from Rs9,752 crore in the quarter ended

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By Ben Bartenstein

This year’s selloff in emerging-market assets has created a whole lot of value, according to Goldman Sachs Group Inc.

The firm’s asset management arm says it’s time to buy as months of underperformance for developing-nation securities relative to their US peers won’t last much longer. The divergence was an anomaly, spurred in part

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Persistent Systems Q2 net profit up 6.7%
PUNE: Persistent Systems reported a 6.7% increase in net profit at Rs 88.14 crore for the quarter ended 30 th September 2018, and a9.8% increase in revenues at Rs 835.57 crore. In dollar terms, the revenues were up marginally by 0.1% at $118.23 million. The EBITDA for the quarter was up 24% at Rs 143.62 crore.

Anand Deshpande, CMD, Persistent

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NEW DELHI: Private lender HDFC Bank on Saturday announced a 20.6 per cent year-on-year (YoY) jump in September quarter net profit at Rs 5,005.70 crore. The numbers came largely in line with analyst projections. The bank said net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and
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By David Fickling

When is a currency manipulator not a currency manipulator When it’s your friend.

That’s the best conclusion to draw from the US Treasury Department’s latest report on the macroeconomic and foreign-exchange policies of major trading partners, handed up to Congress Wednesday. a1China, the regular target of President Donald Trump’s i

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Piramal refutes rumours of loan default by Lodha, Vatika, others
Amid rumours about payment defaults on the real estate loan portfolio of Piramal Capital - Housing Finance (PCHFL) by some of the top developers such as Lodha, Omkar, Vatika, Embassy, Radius, Nahar, Aristo and Supertech, Piramal Enterprises on Sunday denied any such problem.

The company said it has no debt exposure to developers like Aristo,

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HDFC Bank's net rises 20.6% to Rs 5,006 cr in Q2, meets Street estimates; NPA stable
NEW DELHI: HDFC Bank on Saturday reported a 20.6 per cent year-on-year (YoY) rise in net profit at Rs 5,005.70 crore for September quarter, largely in line with a Rs 5,015 crore estimate that analysts had projected in an ET Now poll.

The private lender had reported Rs 4,151 crore profit for the corresponding quarter last year.

Net interest income

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RBI comes to aid of NBFCs, allows banks to lend more
MUMBAI: The Reserve Bank of India relaxed liquidity norms to ease the strain in the financial markets and allowed more bank lending to non-banking finance companies (NBFCs), which are facing asset-liability mismatches. It’s estimated the move could free up as much as Rs 50,000 crore for lending to the sector as it grapples with refinancing m
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Five of top 10 firms add Rs 31,381 crore to m-cap
Five of the 10 most valued companies in the country together added Rs 31,381.39 crore in market valuation last week, with ITC topping the chart.

While HUL, ITC, Infosys, Kotak Mahindra Bank and ONGC saw addition in their market capitalisation (m-cap) for the week ended Friday, TCS, RIL, HDFC Bank, HDFC and SBI finished with losses.

The m-cap of

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ICICI Lombard reports 43.6% jump in Q2 net profit
MUMBAI: ICICI Lombard General Insurance reported 43.6 per cent growth in profit after tax during the second quarter ended September 30, 2018 partly on account of a one time gain and improvement in underwriting.

During the period profit rose to Rs 293 crore compared to Rs 204 crore in the second quarter of last financial year. The company declared

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The quarterly earnings season has begun in full swing. However, price behaviour of certain companies seems illogical. The trend of analyst expectations and comparison of results with such expectations post the actual announcement has fooled the majority.

It is presumed that analyst expectations are godsend and if those expectations are meet, then

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