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The immediate support is now placed at 10,700, and a breach of which could trigger a fresh round of selling in the coming sessions. Despite recording a positive close last week, Indian markets opened a tad lower on September 3 and witnessed selling pressure throughout the day to end the session with sharp cuts on the back of heavy selloff seen in the PSU Banks. The Nifty50 failed to hold on to 11,000 levels on a closing basis as fresh short positions created in 10,900 as well as 11,000 call strikes. From the technical front, the Nifty broke its crucial support placed at 10,830 which was the 61.8 percent retracement level of the recent rally seen from 10,640 to 11,140. This is again a bearish signal for the markets moving forward. The immediate support is now placed at 10,700 and a breach of which could trigger a fresh round of selling in the coming sessions. However, on the higher side, 10,900 should act as strong hurdle for the Nifty going forward. ...

IL&FS on Friday received binding bids for ten road assets in its domestic roads transportation vertical.  These 10 road assets, that account for a total debt of over Rs. 17,700 crores (nearly 19% of total group debt), received 14 binding bids from multiple bidders. This development represents yet another important milestone in the overall resolution process for IL&FS Group being undertaken by the New Board. The 10 road assets that received binding bids include: * One Green Asset – Jharkhand Infrastructure Implementation Company Limited (JIICL); *Five Amber Assets - Jharkhand Road Projects Implementation Company Limited (JRPICL), Moradabad Bareilly Expressway Limited (MBEL), Chenani Nashri Tunnelway Limited (CNTL), Hazaribagh Ranchi Expressway Limited (HREL), Jorabat Shillong Expressway Limited (JSEL). (JRPICL and MBEL are in the process of being re-classified from Amber to Green on the basis of the restructuring proposals agreed with its lenders)...

कॉटन वायदा (अक्टूबर) की कीमतों के 19,500-19,700 रुपये के दायरे में सीमित दायरे में कारोबार करने की संभावना है। धागा मिलों पर कमजोर माँग और कपास की अधिक कीमतों का असर पड़ रहा है। भारत से धागों के निर्यात में कमी के अनेक कारण हैं। वियतनाम जैसे देशों से कम कीमतों पर धागों की उपलब्धता भी एक अहम कारण है। वियतनाम कपास का आयात चीन से करता है, जो काफी कम कीमतों पर कपास बेच रहा है। वैश्विक मोर्चे पर अमेरिका कपास वायदा की कीमतों में बढ़ोतरी हुई है। यूएसडीए के अनुसार अमेरिका कपास की बेहतर निर्यात बिक्री 1,46,000 रनिंग बेल हुई है, जो पिछले हफ्ते की तुलना में 11% कम है। चीन और अमेरिका के बीच व्यापार को लेकर कुछ सकारात्मक बातचीत के कारण आईसीई में कॉटन वायदा की कीमतों 0.46% बढ़ कर 59 सेंट के आस-पास कारोबार कर रही हैं। चना वायदा (सितंबर) की कीमतें 4,000 रुपये के स्तर पर सहारे के साथ कारोबार सकती हैं। नाफेड ने चना की बिक्री के लिए सभी कारोबारियों के प्रस्ताव को रद्द कर दिया है, जिससे बाजार में यह अटकले हैं कि सरकारी एजेंसी बाजार दरों पर चना की बिक्री करेगी। कारोबारियों ने निलामी के तहत अधिकतम 4,00...

Indian shares slipped on Thursday, led by declines in financials and metals, as fears of an impending global recession and worsening Sino-U.S. trade relations marred investor sentiment. The broader NSE Nifty fell 0.46% to 10,994.55 as of 0354 GMT, while the benchmark BSE Sensex inched down 0.44% to 37,293.80. Meanwhile, stocks in regional markets across Asia struggled to recover with MSCI's broadest index of Asia-Pacific shares outside Japan trading flat. Domestic investors also remained cautious ahead of GDP data for the April-June quarter due on Friday. "Sentiment is a fair worry, consumer and business sentiment has to change," said Sunil Sharma, chief investment officer at Sanctum Wealth Management in Mumbai. "The outcome of the trade war is also uncertain." The weather office on Wednesday said monsoon rains in India were below average for the first time in five weeks in the week through Wednesday, further dampening spirits. ...

Malaysian palm oil futures were down at the midday break on Tuesday, easing from an over six-month high hit in the previous session, tracking weaker related oils on the U.S. Chicago Board of Trade and China's Dalian Commodity Exchange. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was last down 0.9% at 2,249 ringgit ($536.75) per tonne around noon, on pace to snap five days of gains. The contract rose to 2,312 ringgit, its strongest levels since Feb. 8, in the previous session. Palm oil may fall to 2,243 ringgit per tonne, as it has broken a support at 2,286 ringgit, said Wang Tao, a Reuters market analyst for commodities and energy technicals. "The current weakness in competing for vegetable oils are dragging on prices," said a Kuala Lumpur-based trader. U.S. soyoil futures on the Chicago Board of Trade was last down 0.3% and the September soyoil contract on the Dalian exchange fell 0.7% on ...

Sudarshan Sukhani of s2analytics.com recommends buying Tata Consultancy Services with stop loss at Rs 2245 and target of Rs 2350 and Balkrishna Industries with stop loss at Rs 735 and target of Rs 770. The market rallied sharply and posted biggest single day gain in last three months on August 26, driven by rally across sectors except metals. The measures to boost economy and possible trade talks between US-China lifted sentiment. The BSE Sensex surged 792.96 points or 2.16 percent to 37,494.12 while the Nifty50 rose 228.50 points or 2.11 percent to close above psychological 11,000 levels, at 11,057.90 and formed bearish candle on daily charts. The market breadth remained in favour of bulls as more than two shares advanced for every share declining on the NSE. The Nifty Midcap index was up 1.6 percent and Smallcap index gained 2.3 percent. According to the pivot charts, key support level is placed at 10,852.77, followed by 10,647.73. If the index starts mo...

Telecom major Vodafone Idea on Thursday announced the launch of "TurboNet" 4G services in select cities of Uttar Pradesh West, Rajasthan and Rest of Bengal (excluding Kolkata) circles where it has successfully integrated the network. The company, in a statement, said that TurboNet would feature a "state of the art 4G LTE network with dual spectrum power offering higher capacity and coverage". The launch of TurboNet 4G follows the consolidation of its radio network integration and the deployment of new-age technologies such as Dynamic Spectrum Re-farming (DSR), Spectrum Re-farming, M-MIMO, L900, TDD and Small Cells to further boost network capacity and coverage across large parts of the country, it said. The company further said it would roll out TurboNet 4G across the country in a phased manner over the next few months. Best Share Market News, Click Here To Get More News -  Stock Market tips , for 2 Days Free T rial give a missed call @964...

The company reported standalone net loss during the quarter stood at Rs 42.37 crore as compared to a net loss of Rs 76.70 crore in the previous year quarter.  Net revenue of the company rose substantially by 26.10 percent at Rs 143.61 crore in the April-June quarter of this fiscal as against Rs 113.89 crore in the corresponding period last year. During the April-June quarter, operating expenses increased by 15.05 percent to Rs 138.05 crore from Rs 119.99 crore in the year-ago period. Other Income grew by 246.15 percent at Rs 1.35 crore versus (Jun'18 Rs 0.39 crore). Operating Profit surged by 191.31 percent to Rs 5.57 crore as against Rs -6.10 crore in the year-ago period, while Operating Profit Margin (OPM) contracted year-on-year to 172.39 percent in June quarter. Interest declined by 36.20 percent y-o-y to Rs 43.62 crore, while Taxation decreased by 15.03 percent at Rs -16.90 crores (Jun'18 Rs -19.89 crores). Best Share Market News, Click Here To Get ...

We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, says ICICIdirect. The Indian rupee erased soem of its morning gains but trading higher by 15 paise at 71.55 per dollar versus previous close 71.70. The Indian rupee on August 20 furthered its loss by another 28 paise to close at a new six-month low of 71.71 against the US dollar as economic uncertainties continued to weigh, said PTI. Investors remained risk averse considering a host of factors including fast-spreading economic slowdown, outlook on foreign fund outflows and weakness in most emerging market currencies, according to forex traders. However, there are expectations that the government will soon come out with stimulus measures to arrest slowdown in consumer demand in various sectors, it added. The dollar-rupee August contract on the NSE was at 71.75 in the previous session. Open interest declined 6.18% in the previous session, said ICIC...

The company launched Vigabatrin powder in 500 mg per packet, a therapeutic equivalent generic version of Sabril (vigabatrin) powder, approved by the US Food and Drug Administration (USFDA). Dr. Reddy’s Laboratories' stock gained more than a percent intraday on August 20 after the company launched Vigabatrin powder (oral solution). The company launched Vigabatrin powder in 500 mg per packet, a therapeutic equivalent generic version of Sabril (vigabatrin) powder, approved by the US Food and Drug Administration (USFDA). At 11:01 hours, the stock was quoting Rs 2,539.60, up to Rs 29.10, or 1.16 percent on the BSE. Best Share Market News, Click Here To Get More News -  Share Market tips , for 2 Days Free T rial give a missed call @9644405057 and Get Share Market Services.

Revenue came in at Rs 47.98 crore versus Rs 1301.16 crore YoY. Shares of Kwality touched a 52-week low of Rs 2.19, down 4.3 percent intraday, on August 20 as the company's losses widened in the quarter ended June. The company's Q1 FY20 loss stood at Rs 64.6 crore as against a loss of Rs 0.85 crore in the year-ago period. Revenue came in at Rs 47.98 crore versus Rs 1301.16 crore YoY. At 10:39 hours, the stock was quoting at Rs 2.20, down Rs 0.09, or 3.93 percent on the BSE. Best Share Market News, Click Here To Get More News -  Share Market tips , for 2 Days Free T rial give a missed call @9644405057 and Get Share Market Services.

CARE Ratings downgraded the rating on the long-term bank facilities of Tata Motors to 'AA-/Negative' from 'AA/Stable. Shares of Tata Motors kicked off August 20 session on a bumpy track as the stock declined over 1 percent but rebounded soon to trade with a gain of about half-a-percent. The stock swung between gains and losses a day after CARE Ratings downgraded its long-term credit rating, in the light of the weak financial performance of its British subsidiary Jaguar Land Rover Automotive PLC (JLR). CARE Ratings downgraded the rating on the long-term bank facilities of Tata Motors to 'AA-/Negative' from 'AA/Stable' but reaffirmed rating on short term bank facility and commercial paper at 'A1+'. In a similar move last week, CRISIL downgraded the rating on the long-term bank facilities of Tata Motors to 'AA-/Negative' from 'AA/Negative' but reaffirmed rating on short term bank facility, commercial paper and s...

Considering excessive short accumulation in the index and options data showing intermediate support at 11000 which is likely to hold the good, short-covering drive to earlier breakdown level of 11,300-11,350 is possible. A truncated week ended on a modest note with Nifty and Bank Nifty ending lower by 0.5 percent and 0.75 percent, respectively. Nifty moved in a narrow band of 10,900-11,100. However, buying in the last two days helped the index to recover from lows with some long addition. Auto ancillary, metals, pharma and selective IT stocks saw short accumulation. On the other hand, short covering was seen in banking stocks like Axis Bank, Bank of Baroda. Implied Volatility for Nifty remained at sub 16 percent level indicating mean reversion to continue further. Options data for Nifty shows strong accumulation in 10,900-11,000 Puts while Call OI is distributed across strikes from 11,100 to 11,400. Strong support for the Nifty is placed a tad above ...

Sudhir Gharpure and his sales team sat chatting at a big Maruti Suzuki dealership on the outskirts of Mumbai some two hours after its doors were opened on a recent Saturday morning - not a single customer was in sight. "There used to be close to 15-20 bookings each day, but now we're down to 3-5 on good days," said Gharpure, the general manager at the dealership. Gharpure's experience is not an isolated one. Across India dealerships are being pushed out of business and the Indian auto sector is going through its biggest slump in nearly two decades. Passenger vehicle sales fell for eight straight months until June, and in May sales dropped 20.55% - the sharpest recorded fall in 18 years. Preliminary data indicates passenger vehicle sales may have plunged as much as 30 percent in July. The slump in India, along with a simultaneous slide in Chinese auto sales, is a blow for automakers wrestling with higher costs driven by more stringent emission norms...

Trends on SGX Nifty indicate a negative opening for the broader index in India, with 0.64 percent loss or 70 points. Nifty futures were trading around 10,944-level on the Singaporean Exchange. The Nifty50 is expected to open lower on Monday tracking Asian markets which were trading at a 2-month low on escalating tension between the US and China on the trade war front. U.S. President Donald Trump abruptly decided on Thursday to slap 10% tariffs $300 billion in Chinese imports, stunning markets and ending a month-long trade truce. China vowed on Friday to fight back, said a Reuters report. On Friday, the Dow Jones Industrial Average fell 98.41 points to 26,485.01, the S&P 500 lost 21.51 points to 2,932.05 and the Nasdaq Composite dropped 107.05 points to 8,004.07. The S&P BSE Sensex rose 99 points to 38,118 while the Nifty50 closed 17 points higher at 10,997 on Friday. Trends on SGX Nifty indicate a negative opening for the broader index in India, ...

The company reported a standalone net profit of Rs 13.09 crore for the quarter ended June 30, 2019, as compared to Rs 25.55 crore in the same period last year, registering a year-on-year decline of 48.77 percent.  Net revenue of the company declined substantially by 21.25 percent at Rs 45.22 crore in the April-June quarter of this fiscal as against Rs 57.42 crore in the corresponding period last year. During the April-June quarter, operating expenses increased by 17.12 percent to Rs 33.80 crore from Rs 28.86 crore in the year-ago period. Other Income grew by 82.55 percent at Rs 7.74 crore versus (Jun'18 Rs 4.24 crore). Operating profit slipped by 59.96 percent to Rs 11.43 crore as against Rs 28.55 crore in the year-ago period, while Operating Profit Margin (OPM) contracted year-on-year to 49.19 percent in June quarter. Interest grew by 0.00 percent y-o-y to Rs 0.20 crore, while Taxation decreased by 36.46 percent at Rs 4.20 crore (Jun'18 Rs 6.61 crore). ...

IndiGo's co-founder and Director Rakesh Gangwal on Tuesday said that he has provided "information to the relevant authorities" regarding governance issues at the airline. In a statement, Gangwal rebutted a report that cited sources as claiming that the regulator has sought information regarding his allegations over the governance issues. "... please note that I have provided this information to the relevant authorities. I wish people had the conviction to be quoted and not hide behind the veil of so-called unnamed 'sources'...," he was quoted as saying in the statement. The development comes after a media report quoting sources said that there is not a shred of evidence to substantiate allegations on related-party transactions between the airline and Rahul Bhatia-controlled IGE because there are no whistleblowers as claimed by Gangwal. The report added that regulators had been seeking similar information for the past 10 days and...