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Elara Capital which has reduce rating on stock said FY19 operating performance remained weak, given lack of meaningful US sales. Glenmark Pharma shares fell 3 percent intraday on May 31 as global brokerage house CLSA downgraded the stock after March quarter earnings missed analyst estimates. The stock was quoting at Rs 544.40, down Rs 10.95, or 1.97 percent on the BSE at 11:01 hours. The scrip has wilted 15 percent in the last one month. CLSA downgraded Glenmark rating to sell from buy and slashed price target by 32 percent to Rs 500 from Rs 740 after cutting FY20-21 EPS estimates by 22-27 percent. The brokerage said the fourth quarter numbers were below estimates due to a miss on US revenue and Higher R&D/SG&A spends. "We expect the investment phase to remain high over the next two years. High investment phase will keep earnings outlook subdued and benefits of current investments will only reflect FY22 onwards," it added. The drug ma...

Gold prices rose on Friday, heading towards their first monthly gain since January on increased safe-haven demand, after U.S. President Donald Trump vowed to levy tariffs on all Mexican imports, ratcheting up concerns of a global economic slowdown. The new threat of tariffs on Mexico, coupled with a string of soggy economic data from the United States this month and the long-drawn Sino-U.S. trade war, also translated into increased bets that the U.S. Federal Reserve could cut interest rates this year. Spot gold was up 0.2% at $1,290.68 per ounce at 0322 GMT. It has risen about 0.6% so far this month. The metal is also on track for a second consecutive weekly gain, up about 0.4% over the week. U.S. gold futures rose 0.3% to $1,290.50 an ounce. An infuriated Trump on Thursday vowed to impose a tariff on all goods coming from Mexico starting at 5% and ratcheting higher until the flow of illegal immigrants into the United States ceases. Asian shares and sove...

Colgate-Palmolive (India) Ltd’s shares have declined by 14% so far this calendar year. On the other hand, the Nifty 200 index has increased by 7.4%. In general, sentiments for consumer stocks haven’t been the best thanks to the demand slowdown firms are experiencing. In particular for Colgate-Palmolive, one of the worries has been the slow erosion in its toothpaste market share over the years. On that front, the company has told analysts after its March quarter results were published that its toothpaste volume market share has stabilized at about 52.5%.  The key positive is that market share has now begun to stabilize over the half-year ended March 2019, wrote analysts from HDFC Securities Institutional Research in a report on 28 May. Needless to say, hereon, investors will watch improvement in the measure closely. Meanwhile, the company, famous for its Colgate brand of toothpastes and other oral care products, coughed up somewhat lacklustre numbers for the ...

Given the recent slowdown in consumption sectors and the correction witnessed in the stocks, it provides a good entry point for the investors to play India’s consumption story. At current levels, Nifty is trading at peak valuations and at a significant premium to other emerging markets. Hence, corporate earnings' revival and maintaining fiscal prudence is essential for sustenance of such premium, said Jayant Manglik, President - Retail Distribution, Religare Broking in an interview to Moneycontrol's Sunil Shankar Matkar. Edited excerpts: Q: As Modi government begins its second term, is it time to buy midcap stocks? A: After a sharp correction from peak levels, the midcap index seems to have formed a base over the last six months and is showing some positive momentum, led by value buying across select midcap companies, which are delivering strong numbers and are attractively valued. While the benchmark indices are trading at peak valuations, BSE mid...

सर्राफा की कीमतों के तेजी के रुझान के साथ सीमित दायरे में रहने की संभावना है। अमेरिकी ब्याज दरों में कटौती की संभावना से सोने की कीमतें जनवरी के बाद पहली साप्ताहिक बढ़त की ओर अग्रसर है। बाजार की पैनी नजर विश्व स्तर पर व्यापारिक तनाव पर है। अमेरिकी राष्ट्रपति द्वारा मेक्सिको पर शुल्क लगाये जाने के झटके से वैश्विक धीमेपन की आशंका बढ़ गयी है। एमसीएक्स में सोने की कीमतों के 31,600 रुपये के स्तर पर सहारे के साथ 32,100 रुपये के स्तर पर पहुँचने की संभावना है और चांदी की कीमतों के 35,800 रुपये के स्तर पर सहारे के साथ 36,500 रुपये के स्तर पर पहुँचने की संभावना है। पहली तिमाही में घरेलू माँग के कम होने के कारण अमेरिकी मुद्रास्फीति अनुमान से काफी कम रही है, जिससे फेडरल रिजर्व के इस विचार को लेकर आशंका बढ़ सकती है कि कीमतों पर दबाव अस्थायी कारकों के कारण है। इस बीच मई में चीन की फैक्ट्री सक्रियता अनुमान से कम हुई है, जिससे अर्थव्यवस्था को सहारा देने के लिए स्थिरता प्रदान करने के लिए चीन की सरकार पर दबाव पड़ रहा है। Best Share Market News, Click Here To Get More News -  Stock Market...

बेस मेटल की कीमतों के सीमित दायरे मे रहने की संभावना है। मेक्सिको से जब तक अवैध आप्रावासन नहीं बंद होता है, तब तक अमेरिकी राष्ट्रपति द्वारा मेक्सिको पर 10 जून से 5% शुल्क लगाये जाने के झटके से वैश्विक धीमेपन की आशंका बढ़ गयी है। इस शुल्क को 1 अक्टूबर तक बढ़ा कर 25% किया जायेगा। तांबे की कीमतों के 408-414 रुपये के दायरे में सीमित दायरे में कारोबार करने की संभावना है। आपूर्ति में कमी की आशंका से लंदन में आज तांबे की कीमतो में बढ़त दर्ज की गयी है, लेकिन विश्व स्तर पर व्यापारिक तनाव के कारण माँग कम होने की संभावना से कीमतों में लगातार सातवें हफ्ते गिरावट की ओर अग्रसर है। विश्व की सबसे बड़ी तांबा खनन कंपनी चिली की कोडेल्को का पहली तिमाही में उत्पादन वर्ष-दर-वर्ष 18% कम हुआ है, जबकि चुक्विकामाता खदान के यूनियनों ने कहा है कि हड़ताल की संभावना को टालने के लिए वे कंपनी के साथ बातचीत करते रहेंगे। जिंक की कीमतों के 207 रुपये के स्तर पर सहारा के साथ 212 रुपये और लेड (जून) की कीमतों के 153 रुपये के स्तर पर अड़चन के साथ 150 रुपये के स्तर पर पहुँचने की संभावना है। निकल (जून) की कीमतों के 870-890 रुपये...

Immediate support for the index is seen at 11,750 with targets placed at 12,100-12,400. A breach of 11,750 can witness some selling pressure but we expect the same to be bought into. May series witnessed extreme volatility. The index traded in the range of 11,000-12,000 as we witnessed the general elections along with global headwinds. Volatility index tested the 30-mark before collapsing back to normal range. Banking led the momentum with private banks gaining the most. Select PSU banks and financials also added to the rally. Auto and metals remained laggards failing to contribute to the momentum. We enter the June series with a positive bias. Nifty continues to trade with a positive tone and is expected to test 12,400 in the near term. June is expected to witness volatility as we are at an inflection point for the markets. Going ahead, one can expect a 10-15 percent movement on either side. We expect a positive bias, although confirmation of the same is ...

The board recommended payment of dividend of Rs 1.90 per equity share of the face value of Re 1 each for 2018-19. Share price of Berger Paints India rose more than 7 percent in the early trade on Friday after company posted better numbers for the quarter ended march 2019. The company has reported 4.91 percent jump in its consolidated net profit to Rs 111.43 crore in the quarter ended on March 2019 against Rs 106.21 crore in the same quarter last year. Its revenue from operations during the quarter was up 13.38 percent to Rs 1,472.09 crore as against Rs 1,298.27 crore. The total expenses was at Rs 1,304.62 crore, while total income stood at Rs 6,061.86 crore. The board recommended payment of dividend of Rs 1.90 per equity share of the face value of Re 1 each for 2018-19. At 09:45 hrs Berger Paints India was quoting at Rs 322.60, up Rs 22.20, or 7.39 percent on the BSE. Best Share Market News, Click Here To Get More News - Stock Market tips , for 2 Days...

Global brokerages remained bullish on the stock and raised price target after solid earnings growth reported by the state-owned company. Coal India shares rallied 4 percent intraday on May 31 as global brokerages remained bullish on the stock after the fourth quarter earnings beat analyst expectations. The stock was quoting at Rs 258.30, up Rs 5.40, or 2.14 percent on the BSE at 10:04 hours. The scrip has rallied 13 percent in the last three months. The country's largest coal mining company beat on earnings front due to its strong realisations. Fuel supply agreement realisations came in at Rs 1,460 per tonne against CNBC-TV18 poll expectations of sub Rs 1,390 per tonne, as FSA sales are 87 percent of total sales volumes. E-auction realisations were also good at Rs 2,754 per tonne against expectations of sub Rs 2,700 per tonne. Profit in March quarter grew by a whopping 363 percent year-on-year to Rs 6,027 crore; revenue increased by 7.5 percent to Rs 2...

Looking at the overall derivatives activity, we are expecting continuation in ongoing optimism towards 12300 – 12500 in coming weeks. May series started with a good amount of long positions, but unlike the previous five series, Nifty breached the previous expiry month’s low and corrected in the first fortnight of the series. The fall was on the back of a long unwinding and we didn’t see any noticeable shorts. However, the index again started rebounding in the second half of the series. The Nifty50 moved in a broader range of 933 points in May series and touched the magical number of 12,000 on May 23. However, the index ended the series a tad below the 12000 mark, with a gain of 2.61 percent over the April expiry close. The month gone-by was very volatile for the Indian market as both Bulls and Bears have fought for their dominance. The volatility index (India VIX) also rallied to 30 levels due to uncertainties related to the outcome of general elections. T...

Today, USD-INR pair is expected to quote in the range of 69.75 and 70.20. The Indian rupee gained in the early trade on Friday. It has opened higher by 11 paise at 69.76 per dollar versus Thursday's close 69.87. On May 30 the rupee continued its slide on the third consecutive day as it was close marginally lower at 69.87 on the back of strong dollar. Rupee is expected to open higher against the dollar on the back of Brent crude’s decline to a near-three-month low. Meanwhile, Trump announcement of tariffs on Mexican imports is expected to keep the rupee’s advance in check. Washington threatened to impose tariffs on imports from Mexico. Trump, in an announcement reported that a 5% tariff would be levied on all goods from Mexico with effect from June 1 and tariffs would remain in place till Mexico takes effective action to alleviate the flow of migrants. Moreover, the announcement warned that tariffs would go up to 25% by October if Mexico did not take sufficie...

The Nifty is likely to realize a direction only if the all-time high mark of 12,041 or the low of 11,640 are broken on a closing basis. The market witnessed its first fall on May 29 after the election verdict, but we saw smart gains on May 30. However. Nothing changes structurally for the indices as the trend continues to remain solid. Going forward, the election’s verdict day is an important reference point. The Nifty is likely to realize a direction only if the all-time high mark of 12,041 or the low of 11,640 are broken on a closing basis. Till then, the market will continue to oscillate in a 400 points trading range. The Nifty Midcap-100 index witnessed a Golden Crossover on the daily chart, an event that indicates that the broader indices are going to play catch-up in the coming weeks. A close above the 18,100 zone would further confirm the upswing as the index would break past the falling channel pattern on the weekly chart. The IT index is also sh...

साल दर साल आधार पर 2019 की जनवरी-मार्च तिमाही में सरकारी कंपनी एनबीसीसी (NBCC) के मुनाफे और आमदनी में बढ़त हुई है। 2018 की समान अवधि में 141.7 करोड़ रुपये से 152.8% बढ़ कर एनबीसीसी का मुनाफा 152.8 करोड़ रुपये रहा। वहीं इसकी शुद्ध आमदनी 2,170.1 करोड़ रुपये से 8.9% बढ़ कर 2,353 करोड़ रुपये रही। साल दर साल आधार पर ही एनबीसीसी का एबिटा मार्जिन 80 आधार अंक घट कर 7.5% रह गया। सालाना आधार पर ही एनबीसीसी की पीएमसी (परियोजना प्रबंधन परामर्श) आमदनी 3.6% अधिक 2,068.9 करोड़ रुपये रही, जबकि इसकी रियल एस्टेट आमदनी 223.5 करोड़ रुपये रही। प्रमुख ब्रोकिंग फर्म आईसीआईसीआई सिक्योरिटीज ने एनबीसीसी के नतीजों को मिला-जुला बताया है, जिनमें कंपनी की आमदनी और एबिटा मार्जिन अंदाजे से कम रहा। मगर मुनाफा 111.7 करोड़ रुपये के अनुमान से बेहतर रहा। दूसरी तरफ बीएसई में एनबीसीसी का शेयर 62.65 रुपये के पिछले बंद स्तर के मुकाबले आज सुबह बढ़त के साथ 63.00 रुपये पर खुला है। साढ़े 10 बजे के आस-पास यह 0.35 रुपये या 0.56% की बढ़ोतरी के साथ 63.00 रुपये के भाव पर चल रहा है। इस भाव पर कंपनी की बाजार पूँजी 11,340.00 ...

साल दर साल आधार पर वित्त वर्ष 2018-19 की चौथी तिमाही में प्रमुख दवा निर्माता ग्लेनमार्क फार्मा (Glenmark Pharma) के मुनाफे और आमदनी में बढ़ोतरी दर्ज की गयी है। वित्त वर्ष 2017-18 की चौथी तिमाही की तुलना में कंपनी के मुनाफे में 6.6% और आमदनी में 12.44% की बढ़त हुई। कंपनी का मुनाफा 151.6 करोड़ रुपये से बढ़ कर 161.6 करोड़ रुपये और शुद्ध आमदनी 2,279.8 करोड़ रुपये से बढ़ कर 2,563.4 करोड़ रुपये रही। इसके अलावा ग्लेनमार्क का एबिटा 326.8 करोड़ रुपये से 11.41% की बढ़त के साथ 364.1 करोड़ रुपये और एबिटा मार्जिन 14% पर सपाट रहा। प्रमुख ब्रोकिंग फर्म आईसीआईसीआई सिक्योरिटीज ने ग्लेनमार्क फार्मा के नतीजों पर टिप्पणी में कहा है कि सभी मामलों में कंपनी के नतीजे अनुमान से कमजोर रहे। साल दर साल आधार पर ग्लेनमार्क की घरेलू आमदनी 9.71% की वृद्धि के साथ 667.7 करोड़ रुपये, अमेरिकी कारोबार 10.01% अधिक 769.6 करोड़ रुपये, यूरोपीय आमदनी और शेष विश्व में आमदनी 29.06% अधिक 385.2 करोड़ रुपये रही। दूसरी तरफ बीएसई में ग्लेनमार्क फार्मा का शेयर 547.35 रुपये के पिछले बंद स्तर के मुकाबले आज सुबह गिरावट के साथ ...

Citigroup maintained its sell rating on Cadila Healthcare while Credit Suisse maintained its neutral rating on Cadila Healthcare post Q4 results. Global brokerage firms Citigroup, Macquarie and Credit Suisse maintained their rating but slashed their target price on Cadila Healthcare post Q4 results. Cadila Healthcare's March quarter consolidated profit fell 22.1 percent year-on-year to Rs 460 crore hit by weak operating income. Consolidated revenue during the quarter grew 15.3 percent to Rs 3,771.2 crore compared to the same period last year as the US formulations business registered a 9.3 percent growth and Emerging Markets formulations business grew 7.1 percent YoY. India formulations business grew 2.1 percent YoY but EU formulations business fell 11.2 percent while API business showed a 6.7 percent growth YoY. Citigroup maintained its sell rating on Cadila Healthcare but slashed its target price to Rs 255 from Rs 330 earlier. The result was la...

In a first of its kind, oil major Indian Oil Corp Ltd on Wednesday signed a MoU with Punjab to set up 15 petrol pumps to provide fuel to farmers on credit that will be repaid after the harvesting of crops. For this, the Cooperation Department inked a pact with Indian Oil in the presence of Cooperation Minister Sukhjinder Singh Randhawa and Additional Chief Secretary Viswajeet Khanna. Under the pact, Indian Oil would open its retail outlets on vacant plots of the cooperative sector institutions. Randhawa said this initiative would provide direct benefit to the farmers. The empty spaces of Markfed, Milkfed, Sugarfed and the rural cooperative societies would see the opening of the petrol pumps. This would not only result in the appropriate usage of the land but also see the improvement of the financial situation of the cooperative institutions, thereby generating employment avenues. The Minister said this initiative would lead to the supply of diesel and pe...

Gold prices inched down on Thursday as bonds rallied and the dollar hovered near a two-year high, negating the support from an increasingly bitter Sino-U.S. trade dispute that rekindled doubts about global economic growth. Spot gold was down 0.1% at $1,277.71 per ounce, as of 0312 GMT. U.S. gold futures edged 0.3% lower to $1,276.70 an ounce. "Investors look like they prefer U.S Treasuries as a safe haven for now, evident by the inverted U.S yield curve," Howie Lee, an economist at OCBC Bank, said. "A strong dollar is also likely impeding big players such as China and India from consuming too much (of gold)." The dollar held steady against its key rivals on Thursday as escalating Sino-U.S. trade tensions forced investors into the shelter of safe-haven assets, including government bonds. Against a basket of six major currencies, the dollar was steady at 98.123, hovering within the reach of a two-year high of 98.371 hit a week ago. The inde...

The company reported standalone net profit of Rs 33.37 crore for the quarter ended March 31, 2019 as compared to Rs 40.27 crore in the same period last year, registering a year-on-year decline of 17.13 per cent.  Net revenue of the company rose moderately by 19.05 per cent at Rs 543.50 crore in January-March quarter of this fiscal as against Rs 456.55 crore in the corresponding period last year.  During January-March quarter, operating expenses increased by 19.96 per cent to Rs 495.51 crore from Rs 413.06 crore in year ago period. Other Income grew by 380.72 per cent at Rs 10.72 crore versus (Mar'18 Rs 2.23 crore). Operating Profit surged by 8.23 per cent to Rs 51.31 crore as against Rs 47.41 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 9.06 per cent in March quarter.  Interest declined by 7.36 per cent y-o-y to Rs 4.91 crore, while Taxation increased by 806.00 per cent at Rs 17.65 crore (Mar'18 Rs -2...

The company reported standalone net loss during the quarter stood at Rs 281.70 crore as compared to net loss of Rs 62.51 crore in the previous year quarter.  Net revenue of the company declined substantially by 43.55 per cent at Rs 54.74 crore in January-March quarter of this fiscal as against Rs 96.97 crore in the corresponding period last year.  During January-March quarter, operating expenses increased by 17.16 per cent to Rs 115.17 crore from Rs 98.30 crore in year ago period. Other Income dipped by 44.41 per cent at Rs 9.44 crore versus (Mar'18 Rs 16.98 crore). Operating Profit surged by 4443.61 per cent to Rs -60.43 crore as against Rs -1.33 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 7957.66 per cent in March quarter.  Interest grew by 4.04 per cent y-o-y to Rs 26.50 crore, while Taxation decreased by 96.14 per cent at Rs 1.60 crore (Mar'18 Rs 41.47 crore). Best Share Market News, Click ...