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Oil prices rose nearly 2% on Wednesday after a larger-than-expected decline in U.S. crude stockpiles helped ease worries about weakening oil demand caused by the trade war between Washington and Beijing. Brent crude futures settled 98 cents, or 1.7%, higher at $60.49 a barrel. West Texas Intermediate crude ended at $55.78 a barrel, rising 85 cents, or 1.6%. U.S. crude oil inventories fell last week by 10 million barrels, compared with analysts' expectations for a decrease of 2.1 million barrels, as imports slowed, the Energy Information Administration said. "There's a lot of big numbers here, but it's all on the import number, which is pretty impressive," said Bob Yawger, director of energy futures at Mizuho in New York. Net U.S. crude imports fell by 1.51 million barrels per day to 2.9 million BPD, while imports in the Gulf Coast region dropped to their lowest on record at 1.2 million BPD. Over the past four weeks, crude oil imports averag...

सरकारी पनबिजली उत्पादक कंपनी एनएचपीसी (NHPC) ने सुबानसिरी (Subansiri) परियोजना के लिए असम सरकार के साथ करार किया है। करार के तहत कंपनी अरुणाचल प्रदेश और असम राज्य में सुबानसिरी नदी पर सुबानसिरी लोअर एचई परियोजना (2,000 मेगावाट) तैयार करेगी। असम और अरुणाचल के बीच की सीमा पर स्थित यह देश की सबसे बड़ी जल विद्युत परियोजना है, जिसकी अनुमानित क्षमता 2,000 मेगावाट और अनुमानित वार्षिक उत्पादकता 7421.59 मिलियन इकाई है। उधर बीएसई में एनएचपीसी का शेयर शुक्रवार को एक दम सपाट 23.25 रुपये पर बंद हुआ। इस भाव पर कंपनी की बाजार पूँजी 23,852.92 करोड़ रुपये है। वहीं इसके पिछले 52 हफ्तों का शिखर 27.50 रुपये और निचला स्तर 20.85 रुपये रहा है।  Best Share Market News, Click Here To Get More News -  Stock Market tips , for 2 Days Free T rial give a missed call @9644405057 and Get Share Market Services.

In April this year, BG Asia had reduced its stake in Mahanagar Gas from 32.5 percent to 24 percent. State-owned entity GAIL India, the Indian promoter, held 32.50 percent stake in the company. Shares of Mahanagar Gas rallied nearly 12 percent intraday on August 20 after a foreign promoter offloaded its entire stake in the company. British Gas sold 98 lakh shares in the natural gas distribution company through block deals on the National Stock Exchange. BG Asia Pacific Holdings Pte Limited, a wholly=owned subsidiary of Shell, held 10 percent stake (representing 98,77,780 shares) in the company, as per June shareholding pattern available on exchanges. At 1013 hours IST, the stock traded with volumes of 3,75,145 shares, compared to its five-day average of 72,457 shares on the NSE and on the BSE, it traded volumes of 52,56,774 shares, compared to its five-day average of 12,33,989 shares. In April this year, BG Asia had reduced its stake in Mahanagar Gas from...

Experts say that there is a possibility double-digit earnings growth could be seen after the September quarter. We are in the middle of earnings season and top companies have already announced their June quarter numbers. FMCG majors including ITC reported profit growth while Britannia Industries reported a marginally fall in profit. With the auto sector in a slump, Mahindra & Mahindra posted a 29 percent year-on-year (YoY) drop due to weak demand across segments. "Unless there is revival happening there would not be any pick up in corporate profitability and earnings. A combination of fiscal measures and monetary measures are required to achieve this," said Joseph Thomas, Head of Research at Emkay Wealth Management. The June quarter is likely to mimic the March quarter with financials leading the growth while consumer discretionary, consumer staples, industrials, material, and real estate could post declining trend sequentially in the top-line growth....

The board also approved the project for setting up of an integrated facility for the development of PTFE at an estimated cost of Rs 424 crore Shares of SRF rose more than 8 percent in the early trade on August 6 after the company posted strong numbers for the quarter ended June 2019. The company registered 42 percent jump in its Q1 profit to Rs 189.2 crore against Rs 133.8 crore in the same quarter last year. Revenue of the company increased 9 percent at Rs 1,828.4 crore versus Rs 1,676.2 crore. The board of directors of the company declared an interim dividend at 70 percent i.e. Rs. 7 per share on the paid-up equity share capital of the company. The board also approved a project for setting up of an integrated facility for the development of PTFE at an estimated cost of Rs 424 crore. The proposed capacity addition is 5,000 MTPA by October 31, 2021, with a mix of debt and internal accruals. At 0926 hours, SRF was quoting at Rs 2,788.25, up to Rs ...

"SSFL's successful exit from corporate debt restructuring (CDR) mechanism in March 2017 (well ahead of the scheduled date of Mar’18), consistent profits along with a healthy asset book, builds confidence in the prospects. The initial public offering of microfinance lender Spandana Sphoorty Financial (SSFL) has opened for subscription on August 5, with a price band at 853-856 per share. The company plans to raise around Rs 1,200 crore through public issue which consists of a fresh issue of Rs 400 crore and offer for sale of around Rs 800 crore by promoters and investors. Spandana will use the money raised through fresh issue towards augmenting the capital base to meet future capital requirements. Most brokerages recommended subscribing the issue but with a long term perspective, and not for listing gains. "SSFL's successful exit from corporate debt restructuring (CDR) mechanism in March 2017 (well ahead of the scheduled date of Mar’18), co...

Online furniture marketplace WoodenStreet is planning to raise $10 million in the next 12 months, the company said in a statement on Sunday. According to the company, the newly-raised fund would be utilized for an "omnichannel" expansion across India, including an increase in footprint in four more cities -- Mumbai, Hyderabad, Chennai, and Pune -- by the next quarter.  "Currently, we operate 15 stores across India. As we grow, we are planning to open 20 more stores, which will help our base of 1 lakh customers increase by five-fold," said CEO Lokendra Ranawat. WoodenStreet started in 2015 with the feature of customization of solid wood furniture, enabling customers to transform the looks and functionality of their furniture as they see fit.  "With the prospect of new funds, the company will also head in the direction of augmented reality-enabled furniture experience, allowing customers to project an interactive 3D model of furniture,...

OYO Hotels and Homes on Thursday announced the launch of a "Partner Privilege Program" for its over 10,000 asset owners across more than 300 cities in the country. The initiative is part of the year-long OYO Partner Engagement Network (OPEN) launched in April this year to boost asset owner growth and create a mechanism for continual engagement and recognition on the other. "The Partner Privilege Program will provide exclusive benefits and opportunities to OYO India's top-performing hotel owners for their personal and professional advancement. The program involves three types of benefits -- growth benefits, partnership benefits, and OYO network benefits," the company said in a statement. The growth benefits include products and services that help asset owners grow their business, get visibility and support with business expansion, land operations that help improve returns. These include expedited and privileged availing of products such ...

The company reported standalone net loss during the quarter stood at Rs 158.83 crore as compared to a net loss of Rs 285.02 crore in the previous year quarter.  Net revenue of the company declined substantially by 29.04 percent at Rs 1,199.88 crore in the April-June quarter of this fiscal as against Rs 1,690.82 crore in the corresponding period last year.  During the April-June quarter, operating expenses dropped by 24.12 percent to Rs 1,141.56 crore from Rs 1,504.36 crore in the year ago period. Other Income grew by 654.28 percent at Rs 72.26 crore versus (Jun'18 Rs 9.58 crore). Operating profit slipped by 68.72 percent to Rs 58.32 crore as against Rs 186.46 crore in the year-ago period, while Operating Profit Margin (OPM) contracted year-on-year to 55.94 percent in June quarter. Interest declined by 1.31 percent y-o-y to Rs 188.00 crore. Best Share Market News, Click Here To Get More News -  Stock Market tips , for 2 Days Free Trial give a mi...

India's leading biotech firm Biocon on Thursday reported Rs 206-crore consolidated net profit for the first quarter (Q1) of fiscal 2019-20, registering a whopping 86 percent annual growth from Rs 120 crore in the same period a year ago. In a regulatory filing on the BSE, the city-based firm said consolidated revenue from operations grew 30 percent annually in the quarter under review (Q1) to Rs 1,466 crore from Rs 1,124 crore in the like period a year ago. Earnings before interest, tax, depreciation, and amortization (Ebitda), also grew 51 percent annually to Rs 462 crore from Rs 307 crore a year ago. "Robust performance by biologics and small molecules business segments fuelled the growth in the first quarter. Investments in biosimilars are delivering expected results," said Biocon Chairperson Kiran Mazumdar-Shaw in a statement later here. The global firm's net profit was impacted due to an exceptional item on account of tax on group entities ...

The long-term 200-DMA levels of 11,130 is going to act as a crucial support area for the Nifty. On the upside, resistance is seen around the 11,400 zone. The markets extended losing streak to the sixth consecutive trading session on July 25 as there seems to be no respite on the Street. Selling pressure across the board dragged the Nifty to shut below the 11,300 zones. Currently, indications point towards the fact that the market is in an oversold zone. Our weekly chart analysis indicates that Nifty is precariously poised around the support of rising weekly trendline. If the index manages to hold above the trendline then a meaningful recovery is likely. Going forward, the long-term 200-DMA levels of 11,130 is going to act as a crucial support area for the Nifty. On the upside, resistance is seen around the 11,400 zone. Bank Nifty too seems to be oversold at the current juncture and a dead cat bounce cannot be ruled out. Crucial support is seen around the 2...

Crisis-ridden IL&FS on Wednesday said that its new board, headed by Uday Kotak, has taken key steps in resolving the over Rs 20,000 crore debt, which has resulted in "significant interim" outcome in the overall resolution process for the IL&FS Group. In a statement on Wednesday, the infrastructure lending major said that a critical focus of the new board, appointed in October last year, has been to maintain the going concern status for companies under the group. "The new board of IL&FS, since taking charge in October 2018, has executed key steps towards addressing more than Rs 20,000 crores of debt. This represents a significant interim outcome in the overall resolution process for the IL&FS Group," it said. The company noted that 55 companies were classified as "green" which are servicing all their obligations. Further, measures have been taken for resolution of debt of three "amber" companies, which are in ...

Shareholders of United Spirits Ltd may not be in ‘good spirits’ as fiscal 2019-20 first-quarter results were below market expectations. As a result, the stock was down about 0.8% in early deals at 584. An increase in election-related dry days hit sales growth. A one-time bulk scotch sales also failed to perk up sales and revenue growth came in below expectation. Though revenue in the first quarter of FY20 rose 10% year-on-year, it was down 1.9% sequentially. The positives for the company during the general elections were lower overheads and ad spends. USL also raised prices of several of its products in the last quarter. But all these failed to boost operating margin which fell to 17.8% in April-June from 20.5% in the year-ago quarter. One-offs seemed to have kept the momentum in the first quarter of the current fiscal. Though bulk sales of scotch boosted volume growth to 8% year-on-year in the reporting quarter, it was still below analysts’ expectations. Besides,...

On July 19 the Indian rupee ended 17 paise higher at 68.80 against the US dollar as market participants pinned their hopes on an aggressive rate cut by the US Federal Reserve later this month. The Indian rupee slipped in the early trade on Monday. It has opened lower by 10 paise at 68.90 per dollar versus Friday's close 68.80. On July 19 the Indian rupee ended 17 paise higher at 68.80 against the US dollar as market participants pinned their hopes on an aggressive rate cut by the US Federal Reserve later this month. 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.

Key issues to watch for would be the outlook on SME & retail book as management indicated some stress in same, and trends in digital banking/payments and various initiatives. HDFC Bank, which has the highest weightage in the Nifty50, is expected to report more than 20 percent growth in profit, net interest income (NII) and pre-provision operating profit on July 20. Loan growth could also be healthy, driven by corporate advances who may provide strong support after the NBFC slowdown. However, there may be a slight slow-down of growth on the retail book. HDFC Bank fell 1.16 percent ahead of June quarter earnings, but in last nine months, it gained 21 percent, giving major support to benchmark indices. "NII is expected to grow by 25 percent YoY driven by stable NIM and healthy loan book growth. The NIM is expected to be stable even with rising cost of fund on account of increase in unsecured high yielding portfolio," said Narnolia which expects prof...

Sudarshan Sukhani of s2analytics.com advises buying Divis Labs with stop loss at Rs 1590 and target of Rs 1650 and Indraprastha Gas with stop loss at Rs 310 and target of Rs 325. Benchmark indices saw a good start with the Sensex gaining more than 160 points amid consolidation on July 15, but it was a bad day for broader markets as the Nifty Midcap index fell 0.8 percent. The sectoral trend was mixed with Nifty IT index gaining nearly 3 percent and Pharma 1 percent but Bank and FMCG lost half a percent each. The BSE Sensex gained 160.48 points to close at 38,896.71 while the Nifty 50 rallied 35.90 points to 11,588.40 forming a bearish candle (as the closing price is lower than opening) that resembles a Hammer kind of pattern on the daily scale. According to the pivot charts, the key support level is placed at 11,540.93, followed by 11,493.57. If the index starts moving upward, the key resistance levels to watch out are 11,627.03 and 11,665.77. The Nifty b...