StockMarket

Sensex sheds 110 points, Nifty ends below 11,050 ahead of F O expiry
NEW DELHI: The domestic indices resumed decline on Wednesday after taking a day’s breather, as investors assumed positions ahead of Thursday's F-O expiry.

The BSE benchmark Sensex closed the day 109.79 points, or 0.30 per cent, lower at 36,542.27. The index opened in the green but erased gains during the day amid a selloff in IT, auto and FMCG

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Share market update: ITC, HUL drag Nifty FMCG index down
NEW DELHI: Losses in shares of ITC (down 3.24 per cent), Britannia Industries (down 1.69 per cent), Hindustan Unilever (HUL) (down 1.45 per cent) and Godrej Industries (down 1.24 per cent) dragged the Nifty FMCG index down during Wednesday's session.

The Nifty FMCG index was trading 1.64 per cent down at 29,630 around 02:15 pm.

Shares of Godrej

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Glenmark Pharma considers buyback of Singapore FCCBs; stock jumps 3%
NEW DELHI: Shares of Glenmark Pharma jumped over 3 per cent in Wednesday’s trade after the company said its operations committee would consider opportunistic tenders or buybacks of any part of its Singapore listed foreign currency convertible bonds.

In a filing to the BSE, the company said it may make such consideration on its $200 million 2 per

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Fitch places Bank of Baroda's VR on 'rating watch negative
Fitch Ratings Wednesday placed Bank of Baroda's viability rating (VR) on rating watch negative (RWN), post the government's proposal to merge the lender with Vijaya Bank and Dena Bank.

The bank's VR currently stands at 'bb'.

The action comes a day after another international rating agency Moody's affirmed ratings of Bank of Baroda, and kept

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European shares steady ahead of Fed's expected rate hike
LONDON, Sept 26 - European shares broadly held their ground on Wednesday morning following limited gains on Asian stock markets ahead of a widely expected rate hike by the Federal Reserve in the United States.

The pan-European STOXX 600 was down 0.03 percent by 0717 GMT after rising during the previous session with energy stocks buoyed by Brent

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Decriminalisation of politics: The wait for clean system gets longer
The wait for clean politics has got longer. The Supreme Court on Tuesday ruled that it cannot cross the ‘Lakshman Rekha’ to bar criminals from contesting elections, even as it urged Parliament to come up with an effective law to prevent persons with serious criminal cases pending against them from entering the legislature. Asserting that corruption
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Why an ICICI, Axis or a YES Bank has trouble succession planning
It has been the proverbial question corporates live with: Who next No prizes for guessing. Succession planning is a truth companies can ignore only at their own peril.

There is no dearth of examples. Take, for instance, ICICI Bank, Axis, or for that matter, Yes Bank. They just go on to show how critical it becomes to have a clearly laid down

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Videocon up over 5% as auction makes headway
NEW DELHI: Share prices of Videocon surged 5 per cent on Wednesday after ET reported that Chinese home appliances maker Haier and global investment firms Blackstone and Goldman Sachs are among its suitors.

They are reported to be weighing offers to buy the company’s consumer electronics business valued at close to $2 billion.

Quoting those in the

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Decriminalisation of politics: The wait for clean system gets longer
The wait for clean politics has got longer. The Supreme Court on Tuesday ruled that it cannot cross the ‘Lakshman Rekha’ to bar criminals from contesting elections, even as it urged Parliament to come up with an effective law to prevent persons with serious criminal cases pending against them from entering the legislature. Asserting that corruption
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By Michelle JamriskoFresh off its climb to No. 6 in the world as of 2017, India’s economy is forecast to take the No. 3 spot by 2030, according to a report by HSBC Holdings Plc. The South Asian giant was seen as “among the most striking” gainers in the bank’s long-term rankings, leap-frogging Germany and Japan largely on account of the economy’s r
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Buy DHFL, target Rs 743: Cholamandalam Securities
Cholamandalam Securities has a buy call on Dewan Housing Finance Corporation (DHFL) with a target price of Rs 743.

The current market price of DHFL is Rs 305.75.

Time period given by the financial firm is one year when DHFL price can reach the defined target.

View of Cholamandalam Securities on DHFL:After the news of a secondary debt market deal

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Stock market update: Sensex, Nifty trade on a choppy note; these stocks surge on NSE
NEW DELHI: Shares of Den Networks (up 12.10 per cent), Hathway Cable (up 9.82 per cent), BEL (up 8.86 per cent), Arshiya (up 8.44 per cent) and Indiabulls Housing Finance (up 8.39 per cent) jumped over 8 per cent on NSE in Wednesday's trade in a positive market.

Shares of Unitech (up 7.41 per cent), Religare (up 6.16 per cent), Centrum Capital (up

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Share market update: HPCL, GAIL, RIL keep BSE Oil Gas index in the green
NEW DELHI: Gains in shares of Indraprastha Gas (up 2.93 per cent), HPCL (up 1.79 per cent), GAIL (India) (up 1.73 per cent) and Reliance Industries (RIL) (up 1.25 per cent) were keeping the BSE Oil - Gas index in the green zone in Wednesday's session.

The BSE Oil - Gas index was trading 0.64 per cent up at 14,931 around 02:50 pm.

Shares

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Macquarie, JPMorgan see over 80% upside for YES Bank; stock up
Global brokerages, including Macquarie and JPMorgan, stuck to their bullish stance on YES Bank with an upside of more than 80 per cent.

The YES Bank board on Tuesday decided to seek at least a 3-month extension for MD and CEO Rana Kapoor from RBI beyond January 31, 2019.

Macquarie said the extension request may not be entertained, given the

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At first glance, India’s mutual fund industry appears to be in fine shape. Net fund inflows — gross inflows minus outflows — are still positive, albeit only just. But a closer scrutiny of gross redemptions to sales ratio suggests that the scales are increasingly tilting in favour of the former.

In August, the month in which broader indices

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Stock market update: Bharti Infratel, Vindhya Telelinks keep BSE Telecom index in the red
NEW DELHI: Even as most telecom stocks were trading with gains, losses in select heavyweights dragged the sectoral index down during Wednesday's session.

The BSE Telecom index was trading 0.36 per cent down at 1,070 around 02:45 pm.

Bharti Infratel (down 4.14 per cent), GTL (down 1.75 per cent), Vindhya Telelinks (down 1.15 per cent), Tata

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Stock market update: Midcaps and smallcaps outperform Sensex; Vakrangee, TVS Motor Company up 3%
NEW DELHI: Midcaps and smallcaps were outperforming Sensex during Wednesday's session.

At 10:45 am, the BSE Midcap index was 0.35 per cent up at 15,330, while the BSE Smallcap index was 0.31 per cent up at 15,268. The BSE Sensex was 0.19 per cent down at 36,581 at that time.

Shares of Vakrangee (down 2.89 per cent), TVS Motor Company (down 2.62

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MSCI considers increasing Chinese share weight in its indexes
SHANGHAI: Global index provider MSCI said it will consider quadrupling the weighting of Chinese big-caps in its global benchmarks and also proposed adding mid-caps and shares listed on Shenzhen's start-up board ChiNext.

MSCI's consultation for a further weight increase of Chinese A-shares came just months after China's milestone MSCI entry in

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Stock market update: Realty stocks jump up to 5%; Unitech, Godrej Properties, HDIL top gainers
NEW DELHI: Most realty stocks were trading with decent gains in afternoon trade on Wednesday.

The Nifty Realty index was trading 2.27 per cent up at 237 around 02:35 pm.

Unitech (up 5.56 per cent), Godrej Properties (up 4.87 per cent) and Housing Development - Infrastructure (HDIL) (up 4.79 per cent) were the top gainers in the realty pack.

D

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Are you looking to stop your monthly SIPs Wait, you can still strike gold
A significant slide in the domestic equity benchmarks and rumours about possible default on certain NBFC bonds have raised fears of a rush for redemption in mutual funds.

There were reports on Tuesday morning that RBI has opened a special repo window to help banks meet liquidity needs due to redemption in mutual funds.

But market watchers say

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Equity mutual fund investors lose up to 34% in past one year
Investors, who put money in equity mutual funds through systematic investment plans (SIPs) in the past one year, are sitting on losses because of the extended weakness in the stock market. Investors are losing money in 123 out of 147 actively managed equity schemes, as per data from Value Research. Small-cap funds have seen the highest fall
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Share market update: Pharma stocks rise up to 3%; Cipla, Lupin among top gainers
NEW DELHI: Most pharma counters were trading with gains during Wednesday's session, keeping the sectoral index up.

The Nifty Pharma index was trading 0.70 per cent up at 10,317 around 02:30 pm.

Shares of Glenmark Pharmaceuticals (up 3.54 per cent) were the top gainers of the pack, followed by Cipla (up 1.72 per cent), Cadila Healthcare (up 1.65

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Share market update: NBFCs trade mixed; IL FS Investment Managers jumps 9%
NEW DELHI: Shares of non-banking financial companies (NBFCs) were trading mixed during Wednesday's session.

Shares of Swastika Investmart (up 17.31 per cent), Stanrose Mafatlal Investment - Finance (up 9.22 per cent), Mcdowell Holdings (up 8.74 per cent), Alankit (up 8.71 per cent), IL-FS Investment Managers (up 8.71 per cent), Walchand

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Share market update: Sugar stocks trade mixed; Gayatri Sugars, Piccadily Sugar jump 5%
NEW DELHI: Sugar stocks were trading mixed during Wednesday's session in the wake of media reports that the Cabinet is likely to consider Wednesday the Rs 4,500 crore package for the cash-starved sugar sector.

A PTI report said the package includes doubling production assistance to growers and transport subsidy for export up to 5 million tonnes in

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Stock market update: IT stocks crack; HCL Tech, Wipro among top losers
NEW DELHI: Most IT stocks were suffering major losses during Wednesday's session amid a slight recovery in Indian rupee against the US dollar.

The Nifty IT was trading 1.76 per cent down at 15,950 around 02:20 pm. The rupee was trading 4 paise higher at that time.

Barring Infibeam Avenues (up 0.70 per cent), all stocks in the IT index was in the

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IL FS Group stocks gain more on LIC support
Shares of IL-FS Group companies extended their gains on Wednesday after state-owned insurer LIC said it will not allow debt-ridden IL-FS to collapse and explore options to revive it.

The scrip of IL-FS Engineering and Construction Company gained over 7 per cent in the early session while IL-FS Transportation Networks jumped as much

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Buzzing stocks: YES Bank, DHFL, Indiabulls Housing Finance, Balrampur Chini
NEW DELHI: YES Bank, with over 1.38 crore shares changing hands, emerged as the most traded stock on NSE in morning trade on Wednesday.

DHFL (number of shares traded: 1.20 crore), Suzlon Energy (0.75 crore) and JP Associates (0.71 crore) were up next.

Balrampur Chini (0.68 crore), Reliance Communications (0.68 crore), BEL (0.52 crore), Bajaj

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PNB shares rally over 2% on fund raising plan
NEW DELHI: Shares of Punjab National Bank climbed over 2 per cent in the afternoon trade on Wednesday after it informed bourses that the bank will consider capital infusion of Rs 5,431 crore by the government of India on Thursday.

The scrip was trading 2.01 per cent up at Rs 68.40 at around 2.05 pm (IST), while BSE Sensex was down 195 points, or

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IL FS Group stocks gain more on LIC support
Shares of IL-FS Group companies extended their gains on Wednesday after state-owned insurer LIC said it will not allow debt-ridden IL-FS to collapse and explore options to revive it.

The scrip of IL-FS Engineering and Construction Company gained over 7 per cent in the early session while IL-FS Transportation Networks jumped as much

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Anand Rathi Wealth Services files for Rs 425 crore IPO
New Delhi: Financial services firm Anand Rathi Wealth Services has filed draft papers with markets regulator Sebi to raise an estimated Rs 425 crore through an initial public offering (IPO).

The IPO comprises fresh issue of equity shares by Anand Rathi Wealth Services aggregating up to Rs 125 crore and an offer for sale of up to Rs 300 crore by

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