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The bigger challenge is to bring down the cost of funds, which has gone up because NBFCs are not able to raise funds at low cost. This will be the key to reviving auto sector demand. Amarjeet Maurya The Indian auto sector has been facing one of its worst periods in the last year. Year-on-year (YoY), the sales of automobiles has dropped by over 20 percent and the inventories are piling up. It is in this backdrop that the Union Budget 2019 is being presented. So, what exactly are the expectations from the Union Budget for the auto sector? Reduction of GST on automobiles: it on par with sin goods like cigarettes and other items of luxury consumption. Actually, automobiles are neither! The first expectation is that the GST on automobiles should be reduced from 28 percent to a more rational level of 18 percent at a policy level. The auto industry believes that this reduction in prices can be passed on to the end customer, which would be instrumenta...

Himachal Pradesh Chief Minister Jai Ram Thakur called on Reliance Industries Chairman Mukesh Ambani here as part of outreach activity for attracting investments to the state, it was announced on Friday. The Chief Minister invited the Reliance Group to participate in the maiden Global Investors Meet being organised by the state government in Dharamsala in November, the state government said. Thakur said the state government was providing all basic facilities to potential entrepreneurs like availability of land, uninterrupted electricity supply and responsive administration. Ambani showed interest in strengthening the Jio network particularly in rural areas of the state by laying new optical fibre lines. He also expressed interest in post-harvest management of fruits and vegetables, besides setting up of mobile phone assembly units in Baddi, Barotiwala and Nalagarh areas for which he assured that a team of the company would visit the state to finalise its activities...

Vedanta said on Friday a Zambian court had withdrawn an order staying the powers of a provisional liquidator at its Konkola Copper Mines (KCM) unit pending another court hearing on July 4. "As part of the decision handed down today the stay on the exercise of the powers of the Provisional Liquidator has been lifted pending the inter parties hearing on July 4," Vedanta said in a statement. Vedanta has been locked in a dispute over KCM with the Zambian government since last month. It appealed on Friday to the Zambian government to discuss KCM face to face.

On a weekly basis, the rupee gained 54 paise to end at 69.01 on June 28 against the June 21 closing of 69.55. Benchmark indices witnessed a range-bound movement last week as the indices ended marginally higher with no major domestic as well as global data. The indices remained choppy in the week amid June F&O expiry, which was ended in the red. This is the first time in the last three months when indices closed the series in the red. The Sensex ended 200.15 points higher at 39,394.64, while Nifty ended at 11,788.9, up 64.8 points last week. Nagaraj Shetti, Senior Technical & Derivative Analyst – HDFC securities, said, "The Nifty as per weekly time frame chart formed a small positive candle with upper and lower shadow. Technically, this pattern could be considered as a high wave type pattern, which is currently placed at the crucial support of 11,650 levels (upper area of opening upside gap of 20th May). "The short term trend of Nifty rema...

Despite the Union Budget being an important event to watch, the mood of the street is not positive. Budget 2019 being Nirmala Sitharaman’s first in a stable majority government, we expect it to be a populist one. The centre of focus could be on the micro industries and farmers, Umesh Mehta, Head of Research, SAMCO Securities, said in an interview with Moneycontrol’s Kshitij Anand. Q) Nifty50 closed June on a negative note after three straight months of positive closing. Do you think have we hit an intermediate top with respect to markets, or could we see a breakout above 12,103 after the budget? A) The current anatomy of the market structure is fractured. A large number of stocks are trading below the long-term average i.e. 200-day exponential moving average (EMAs). The Union Budget is indeed an important event to watch which will set the right policy initiatives for the economy. However, the mood of the street is not positive and, therefore, policy initia...

The Dow Jones Industrial Average rose 73.38 points, or 0.28%, to 26,599.96, the S&P 500 gained 16.84 points, or 0.58%, to 2,941.76 and the Nasdaq Composite added 38.49 points, or 0.48%, to 8,006.24. Wall Street advanced in heavy trading on Friday, with the S&P 500 and the Dow closing the book on their best June in generations, ahead of much-anticipated trade talks between U.S. President Donald Trump and Chinese counterpart Xi Jinping at the G20 summit now underway in Japan. All three major U.S. stock indexes gained ground at the close of the week, month, quarter and first half of the year, during which time the U.S. stock market has had a remarkable run. The S&P 500 had its best June since 1955. The Dow posted its biggest June percentage gain since 1938, the waning days of the Great Depression. From the start of 2019, after investors fled equities amid fears of a global economic slowdown, which sent stock markets tumbling in December, the benchmark S...

Oil prices were steady on Friday, with focus shifting to the G20 summit where a scheduled meeting between U.S. President Donald Trump and Chinese President Xi Jinping has stirred hopes that trade tensions could ease. Brent crude futures were up 5 cents, or 0.08%, at $66.60 per barrel by 0043 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 2 cents, or 0.03%, at $59.41 a barrel. The leaders of the G20 countries meet on Friday and Saturday in Osaka, Japan, but the most anticipated meeting is between Trump and Xi on Saturday. A trade dispute between the world's two biggest economies has weighed on oil prices, fanning fears that slowing economic growth could dent demand for the commodity. "While there are no expectations of a truce between the two parties, it will set the scene for the OPEC meeting a couple of days later," ANZ Bank said in a note. Trump said on Wednesday a trade deal with Chinese President Xi was possible this we...

Gold prices jumped on Friday, heading for their best month in three-years, as uncertainty loomed over whether highly anticipated trade talks between China and the United States would yield any progress in ending a year-long trade dispute. Spot gold was up 0.7% at $1,419.61 per ounce as of 0115 GMT. Gold has risen nearly 8.8% so far this month, on track for its biggest monthly percentage gain since June 2016. With nearly 1.5% gained so far this week, bullion is also set to post its sixth consecutive weekly rise. U.S. gold futures climbed 0.7% to $1,422.20 an ounce. The leaders of the Group of 20 countries meet on Friday and Saturday in Osaka, Japan, with a much-anticipated meeting between U.S. President Donald Trump and Chinese President Xi Jinping scheduled for Saturday. The Wall Street Journal on Thursday reported that Xi plans to present Trump with a set of terms the United States should meet before Beijing would be ready to settle their trade dispute. ...

Prime Minister Narendra Modi on Friday held a "productive" trilateral meeting with US President Donald Trump and Japanese premier Shinzo Abe, and extensively discussed issues of the Indo-Pacific region, connectivity and infrastructure development ahead of the formal opening of the G-20 Summit here. It was the second Japan-America-India (JAI) meeting. The discussion focused on how the three countries can together work together towards an open, stable and rule-based Indo-Pacific region. During the Japan-America-India trilateral meeting, Modi highlighted "the importance India attaches to" the grouping. The main topic of discussion was Indo-Pacific, how the three countries can work together in terms of connectivity, infrastructure, ensuring peace and security, and working together to build upon this new concept, Foreign Secretary Vijay Gokhale said. "Committed to a better future. Meeting of JAI (Japan-America-India) Trilateral takes plac...

कारोबारी सप्ताह के अंतिम दिन शुक्रवार को बाजार के दोनों प्रमुख सूचकांक बढ़ोतरी के साथ खुले हैं। जुलाई सीरीज के पहले दिन निफ्टी 11,850 के ऊपर खुला है। सभी क्षेत्रों के सूचकांक भी हरे निशान में खुले हैं। साथ ही डॉलर के मुकाबले रुपये ने भी 5 पैसे की मजबूती के साथ 69.01 पर शुरुआत की। बीएसई सेंसेक्स (Sensex) 39,586.41 के पिछले बंद स्तर की तुलना में गिरावट के साथ 39,630.52 पर खुल कर 9.20 बजे के करीब 65.65 अंक या 0.17% की बढ़ोतरी के साथ 39,652.06 पर है। वहीं एनएसई का निफ्टी (Nifty) 11,841.55 के पिछले बंद स्तर के मुकाबले 11,861.15 पर खुल कर 24.30 अंक या 0.21% की वृद्धि के साथ 11,865.85 पर है। दूसरी तरफ छोटे-मॅंझोले बाजारों में स्थिति मिली-जुली है। बीएसई मिडकैप सपाट और बीएसई स्मॉलकैप में 0.11% की मजबूती है। वहीं निफ्टी मिड 100 में 0.11% की गिरावट और निफ्टी स्मॉल 100 में 0.10% की बढ़ोतरी है। इस समय निफ्टी के प्रमुख 50 में से 31 शेयर और सेंसेक्स के प्रमुख 31 शेयरों में से 15 शेयर मजबूत स्थिति में हैं। Best Share Market News, Click Here To Get More News -  Share Market tips , f...

सहायक कंपनी में हिस्सेदारी बेचने की घोषणा से मैक्स इंडिया (Max India) का शेयर दबाव में है। मैक्स इंडिया ने गुरुवार को ऐलान किया कि इसने अपनी सहायक कंपनी फार्मैक्स कॉर्पोरेशन (Pharmax Corporation) में अपनी पूरी 85.17% हिस्सेदारी बेचने का निर्णय लिया है। मैक्स इंडिया फार्मैक्स कॉर्पोरेशन में अपना पूरा हिस्सा मैक्स एस्टेट्स (Max Estates) को बेचेगी, जो मैक्स वेंचर्स (Max Ventures) की पूर्ण स्वामित्व वाली सहायक कंपनी है। बता दें कि मैक्स वेंचर्स मैक्स ग्रुप (Max Group) की एक इकाई और मैक्स इंडिया की साथी कंपनी है। मैक्स इंडिया ने फार्मैक्स कॉर्पोरेशन में पूरी हिस्सेदारी का सौदा 61.0 करोड़ रुपये में किया है। हालाँकि इस खबर के बाद आज कंपनी का शेयर दबाव में है। बीएसई में मैक्स इंडिया का शेयर 69.10 रुपये के पिछले बंद भाव की तुलना में गिरावट के साथ 68.55 रुपये पर खुला है। करीब पौने 10 बजे यह 1.05 रुपये या 1.52% की कमजोरी के साथ 68.05 रुपये पर चल रहा है। इस भाव पर मैक्स इंडिया की बाजार पूँजी 1,828.27 करोड़ रुपये है। वहीं इसके पिछले 52 हफ्तों का शिखर 95.20 रुपये और निचला स्तर 55.00 रुपय...

The markets are in a structural uptrend and are expected to sustain the 11,750 mark. After making an all-time high at 12,103 on the 1st trading session of June, Nifty spent the rest of the month in a corrective mode. Though there were few stock specific shorting opportunities during this period, the ranging price action was quite annoying for most short-term traders as it lacked directional bias in either direction. Selling pressure was visible in the midcap space as the Nifty200 breadth remained weak. Bank Nifty witnessed selling pressure for the first half of the series, however, a smart recovery was seen in the last few trading sessions. During this contra trend period, the putative swing low (of 11,625) in Nifty50 was formed near the gap support area of 11,600-11,400. We have already seen a decent recovery from those levels and going forward, this zone should play the role of major support. An open interest concentration in JULY 11500PUT Options is also reflec...

Telecom major Bharti Airtel on Thursday said it would offer free subscription of Netflix, Amazon Prime and Zee5 for specific timeframes to its "V-Fiber" customers with broadband plans of Rs 1,099 and above. Airtel "offers access to premium content from Netflix, Amazon, ZEE5 and much more with home broadband plans of Rs 1,099 and above," the company said in a statement. The offers are under its customer reward program "AirtelThanks". The benefits include three months subscription gift for Netflix, one year Amazon Prime membership, access to premium content from ZEE5 and Airtel TV among others, said the compay.  "Customers, based on their plans, will be eligible for exclusive benefits from top brands," it said. Best Share Market News, Click Here To Get More News -  Share Market tips , for 2 Days Free Trial give a missed call @9644405057 and Get Share Market Services.

Budget passenger carrier IndiGo on Thursday said that it would revise flight cancellation and change charges made within three days before the travel date. However, for domestic bookings, customers can make changes or cancellations free of charge within 24 hours of booking, if booked at least seven days before the travel date. According to the airline, the revised flight cancellation and change fee for both domestic and international flights will become effective from Thursday midnight. "The revision only applies if the change or cancellation is made within 0-3 days of the travel dates. The charges remain the same in case a passenger is making the change four or more days in advance of the travel dates," the airline said in a statement. In line with the passenger charter released by the Ministry of Civil Aviation in February 2019, customers can make any changes or cancellations free of charge within 24 hours of booking on domestic flights, provided they ...

Iron ore producer NMDC Ltd’s shares have risen 7.4% since it announced its May 2019 production and sales figures last week. Production and sales for the month increased a robust 43% and 46%, respectively, over the corresponding period last year. That means cumulative year-on-year production and sales growth for the first two months of FY20 were 31% and 34%, respectively. This has set a good tone for the company’s performance in the current quarter. According to Edelweiss Securities Ltd, NMDC is likely to report decent volume growth in the first quarter of FY20 despite a two-day production loss at its Bailadila (Chhattisgarh) operations in June. It also helps that global iron ore prices are strong, which can boost the company’s export realizations. For the NMDC stock, however, triggers for meaningful outperformance appear contained. For one, even as volumes have been encouraging so far, investors would do well to watch the progress ahead. The management has guide...

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 15 points or 0.13 percent. Nifty futures were trading around 11,907-level on the Singaporean Exchange. The Nifty50 is likely to open higher on Friday tracking Asian markets which were trading higher as investors clung on to hopes that a meeting between U.S. President Donald Trump and Chinese President Xi Jinping this weekend could lead to an easing of trade tensions. The S&P 500 and the Nasdaq closed higher in a broad-based rally on Thursday as investors looked to the G20 summit in Osaka, said a Reuters report. The benchmark S&P 500 snapped its four-day losing streak, closing within 1% of its all-time high, reached a week ago. Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 15 points or 0.13 percent. Nifty futures were trading around 11,907-level on the Singaporean Exchange. The S&P BSE Sensex slipped 5 points to 39,58...

Prakash Gaba of prakashgaba.com recommends buying Mahindra & Mahindra with target at Rs 675 and stop loss at Rs 650, Mahanagar Gas with target at Rs 875 and stop loss at Rs 854 and Tata Chemicals with target at Rs 653 and stop loss at Rs 630. Nifty50 reclaimed 11,900 levels on June 27 morning but failed to hold on. The index closed flat amid consolidation on account of expiry of derivative contracts. The BSE Sensex shed 230 points from day's high to close 5.67 points lower to 39,586.41 while the Nifty 50 slipped six points to 11,841.50, forming a bearish candle resembling a Shooting Star kind of pattern on daily charts with long upper shadow and closing near to its intraday lowest point. According to the Pivot charts, the key support level is placed at 11,804.6, followed by 11,767.7. If the index starts moving upward, key resistance levels to watch out are 11,894.8 and 11,948.1. The Nifty Bank closed at 31,269.50, up 107.15 points on June 27. The impor...

A breach below the 31,100 zones could drag the Bank Nifty into a consolidation phase. The market was highly volatile amid expiry of the both the weekly as well as monthly series. Series-wise, the Nifty ended in red for the first time in the past three months. The Bank Nifty and Midcap index posted gains for the third consecutive day. After enjoying a strong two-day run, Nifty faced resistance at 11,900, which was its previous breakout level, post which it went onto hit record highs. Going forward, only a breakout above 11,900 zones could lead to a sustained up move. On the other hand, support levels are seen around 11,700 levels, which is also its 50-days moving average. The Bank Nifty has led from the front and has been an outperformer. However, the index has formed a Doji candlestick pattern on the daily chart. Going forward, only a break above the 31,500 could lead to a fresh up move. On the other hand, a breach below the 31,100 zones could drag the index...