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The share touched its 52-week high Rs 13.25 and 52-week low Rs 9.05 on 01 January 2019 and 08 October 2018, respectively. Shares of United Bank of India declined nearly 3 per cent in the early trade on September 5 after the bank decided not to discuss amalgamation with Punjab National Bank (PNB) on September 6 board meeting. The board of directors of the company will not be deliberating on the said amalgamation with PNB in the meeting to be held on September 6, 2019. The board will discuss the matter on a later date, the intimation of which shall be given to the exchanges in due course, it added. At 0931 hrs, United Bank of India was quoting at Rs 9.90, down Rs 0.26, or 2.56 per cent on the BSE. The share touched its 52-week high of Rs 13.25 and its 52-week low of Rs 9.05 on 1 January 2019 and 8 October 2018, respectively. Currently, it is trading 25.51 per cent below its 52-week high and 9.06 per cent above its 52-week low. Best Share Market New...

सकारात्मक वैश्विक रुझानों और अमेरिकी तथा एशियाई बाजारों में मजबूती से गुरुवार को घरेलू बाजार में भी अच्छी शुरुआत हुई है। शुरुआती कारोबार में ही निफ्टी 10,900 के ऊपर आ गया है। सभी प्रमुख सूचकांक हरे निशान में हैं, जिनमें सर्वाधिक मजबूती धातु, ऊर्जा, इन्फ्रा, ऑटो, बैंक और आईटी में है। अगस्त में चीन के सेवा क्षेत्र ने शानदार प्रदर्शन किया, जबकि ब्रिटिश सांसदों ने ब्रेक्जिट में देरी के लिए एक कानून को मंजूरी दे दी है। इसके अलावा हॉन्ग-कॉन्ग में तनाव में कमी आयी है। इन खबरों से निवेशकों को राहत मिली है। बीएसई सेंसेक्स (Sensex) 36,724.74 के पिछले बंद स्तर की तुलना में बढ़ोतरी के साथ 36,821.71 पर खुला। 9.20 बजे के करीब सेंसेक्स 119.37 अंकों या 0.33% की वृद्धि के साथ 36,844.11 पर है। वहीं एनएसई का निफ्टी (Nifty) 10,844.65 के पिछले बंद स्तर के मुकाबले 10,860.95 पर खुल कर 60.60 अंकों या 0.56% की बढ़ोतरी के साथ 10,905.25 पर है। दूसरी तरफ छोटे-मॅंझोले सूचकांकों में भी मजबूती है। बीएसई मिडकैप में 0.35% और बीएसई स्मॉलकैप में 0.30% की वृद्धि है। वहीं निफ्टी मिड 100 में 0.53% और निफ्टी स...

Creditors of India's bankrupt Jet Airways are likely to recover less than 10% of the carrier's total outstanding dues in a liquidation scenario if no suitor succeeds in buying the airline, two sources told Reuters. The airline's financial and operational creditors, who are owed nearly 300 billion Indian rupees ($4.20 billion) are likely to recover only $300-$400 million from the sale of Jet's assets, the sources, who have direct knowledge of the matter, said. "The expected recovery on owned planes and real estate is $300-400 million after repaying debt tied specifically to those assets," said one of the sources. The sources, who asked not to be named as they have not been cleared to discuss the matter with media, said Jet currently has some four to six Boeing and Airbus aircraft, and some real estate assets in India, on which there are some outstanding dues. The airline, less than a year ago, was operating a fleet of more than 120 plane...

The gains add to a surge in prices on Wednesday that had been driven by a survey showing activity in China's services sector expanded at the fastest pace in three months in August, as new orders rose in the world's second-biggest consumer of oil. Oil prices rose on Thursday, rebounding from earlier losses, after the U.S. confirmed that talks with China to reach a trade agreement would be held in the coming weeks, giving hope that a dispute that has roiled global economies will be resolved. The gains add to a surge in prices on Wednesday that had been driven by a survey showing activity in China's services sector expanded at the fastest pace in three months in August, as new orders rose in the world's second-biggest consumer of oil. Brent crude was up 21 cents, or 0.4%, at $60.91 a barrel by 0301 GMT. On Wednesday, Brent rose 4.2%. West Texas Intermediate (WTI) was up 17 cents, or 0.3%, at $56.43 a barrel, having risen 4.3% the previous session, t...

Buying Apollo Tyres with the target at Rs 185 and stop loss at Rs 172 and Bharat Electronics with target at Rs 115 and stop loss at Rs 104. After a subdued start, the market slipped in the red and traded with negative bias in the first half. However, it managed to pull back from the lows and ended the session higher. Sensex closed 162 points, or 0.44 percent, higher at 36,724.74, with 18 stocks in the green. The Nifty index logged a gain of 47 points or 0.43 percent to settle at 10,844.65, with 30 stocks ending in the positive. Midcaps and small caps underperformed Sensex as their sectoral indices on BSE climbed up to 0.29 percent. The index is still trading below crucial short term moving averages and despite the bounce, the trend is still negative, suggest experts. Traders are advised to trade with strict stop losses as long as the index trades above 10,756-10637 levels. According to the pivot charts, the key support level is placed at 10,774.4, follow...

आंध्र बैंक (Andhra Bank) के शेयर में 2% से ज्यादा की कमजोरी देखने को मिल रही है। शुक्रवार 06 सितंबर को आंध्र बैंक के निदेशक मंडल की बैठक होने जा रही है, जिसमें सरकार द्वारा प्रस्तावित आंध्र बैंक, कॉर्पोरेशन बैंक (Corporation Bank) और यूनियन बैंक ऑफ इंडिया (Union Bank of India) के विलय पर विचार किया जायेगा। इन तीनों बैंकों के विलय से 14.59 लाख करोड़ रुपये के कारोबार और 9,609 शाखाओं वाला बैंक तैयार होगा। बता दें कि हाल ही में केंद्रीय वित्त मंत्री निर्मला सीतारमण ने 10 सरकारी बैंकों के आपस में विलय का ऐलान किया, जिसके बाद 10 की जगह केवल 4 बैंक वजूद में रह जायेंगे। बीएसई में आंध्र बैंक का शेयर 19.90 रुपये के पिछले बंद भाव की तुलना में मजबूती के साथ 20.10 रुपये पर खुला। मगर शुरुआत में ही यह लाल निशान में पहुँच गया और साढ़े 10 बजे के करीब 19.30 रुपये के निचले स्तर तक फिसला। करीब सवा 11 बजे बैंक के शेयरों में 0.45 रुपये या 2.26% की कमजोरी के साथ 19.45 रुपये पर कारोबार हो रहा है। इस भाव कंपनी की बाजार पूँजी 5,804.83 करोड़ रुपये है। वहीं इसके पिछले 52 हफ्तों का शिखर 34.85 रुपये और निचला ...

Oil prices recovered some ground on Wednesday after touching their lowest in close to a month during the previous session on concerns that a weakening global economy could depress demand. Brent crude was up 12 cents, or 0.21%, at $58.38 a barrel by 0425 GMT, while U.S. West Texas Intermediate futures gained 20 cents, or 0.37%, at $54.14 a the barrel. Oil prices sunk to a nearly one-month low on Tuesday following data that showed U.S. manufacturing activity in August contracted for the first time in three years and eurozone manufacturing activity contracted for a seventh month in August. But global markets bounced on Wednesday after a private survey showed that activity in China's services sector expanded at the fastest pace in three months in August as new orders rose, prompting the biggest increase in hiring in over a year. China is the world's second-largest oil consumer and the largest importer. "Given the tumble that we saw overnight it'...

Gold held steady on Wednesday after rising 1% in the previous session, with prices hovering near a more than six-year high on heightened fears of a global recession following weak U.S. data, the prolonged Sino-U.S. trade spat and Brexit uncertainties. Spot gold slipped 0.2% to $1,543.02 per ounce at 0407 GMT, but near last week's $1,554.56, its highest since April 2013. U.S. gold futures were also down 0.2% at $1,552.4 an ounce. Spot silver was up 0.7% to $19.37 per ounce, after hitting $19.57 earlier, its highest since September 2016. With no agreement on the U.S.-China trade front, investors remain nervous, said Michael McCarthy, chief market strategist at CMC Markets, adding that uncertainties following a parliamentary vote in the UK are a positive for gold. British lawmakers defeated Boris Johnson in parliament on Tuesday in a bid to prevent him taking the country out of the EU without a divorce agreement, prompting the prime minister to announce th...

The management of Tata Motors is hopeful of recovery in auto sales after the recent measures introduced by the government. A day after falling more than 3 percent, Tata Motors extended its decline on September 4 after the automaker reported a 58 percent decline in domestic passenger vehicle sales in August. The company sold 7,316 units against 17,351 vehicles in the same month in 2018, Tata Motors said in a statement. Shares of the global automaker plunged 5 percent intraday trade on Wednesday and were trading near its 52-week low of Rs 106.20. Tata Motors is already down more than 30 percent in 2019, weighed down poor domestic and JLR sales globally. Tata Motors commercial vehicles business unit president Girish Wagh said subdued demand sentiment due to poor freight availability, lower freight rates and a slowdown in the economy continued to hamper the demand for commercial vehicles. “We are looking forward to a positive impact of the recently announc...

Reduction in the cost of borrowing and improved income opportunities will boost revenues and can increase the bottom line of the new entities. In the latest episode of the mini-budget press meet series, Finance Minister Nirmala Sitharaman announced another major measure towards making India a $5-trillion economy. To create global sized banks, the merger of 10 public-sector banks (PSBs) into four entities was announced so that the struggling sector is streamlined, revived and rejuvenated. From a global perspective, we don’t have a single bank among the Top 20. For example, five biggest banks of China, which find a place in the Top 20 list, have contributed to growth in all major sectors. Lower funding costs and technological scalability of large banks assure that banking services are accessible to the last person. Post mergers, more than 80 percent of the PSB business will be with 12 banks that will ensure they have a strong business book with an all-India presence...

Market participants had a tough time digesting the slew of negative macroeconomic data served over the weekend. And, the sharp fall in Indian stock market indices mirrors that pain very well. The Nifty and the Sensex shed more than 2% each on Tuesday, pushing the fear gauge India VIX (volatility index) up 11% to the 18-mark. Global cues weren’t very supportive either, with the Asian markets closing on a mixed note. But the decline in Indian stocks was largely due to domestic concerns. Analysts say while the market may have factored in most of the poor data, fresh buying may not come in a hurry. “There are media reports that the government may sell its stake in BPCL (Bharat Petroleum Corp.) to IOC (Indian Oil Corp.), which has further weighed on sentiments because this route of privatization will weaken the buying profit-making government entity. Investors feel that the government’s actions in responding to economic woes are not sufficient. They also need to be more ...

SEBI has been poring over Sun Pharma's books of accounts to look into red flags raised by the whistle-blower in his complaint. Shares of Sun Pharmaceutical Industries declined 5 percent intraday on September 4 after SEBI ordered a forensic audit against the company. "SEBI has ordered a forensic audit to confirm the findings of its initial inquiry," a senior SEBI official told Moneycontrol on condition of anonymity. Also Read - SEBI orders forensic audit against Sun Pharma based on whistle-blower complaint: Sources The development was confirmed by another person privy to the proceedings. SEBI has kept a close eye on Sun Pharma's books after a whistle-blower raised some red flags against the company in its complaint to the regulator. At 1000 hrs, Sun Pharmaceutical Industries was quoting at Rs 424.65, down Rs 14.80, or 3.37 percent on the BSE. Best Share Market News, Click Here To Get More News -  Share Market Tips, Stock Marke...

We expect the USD-INR to find supports at lower levels. Utilize downsides in the pair to initiate long positions, says ICICIdirect. The Indian rupee gained in the early trade on Wednesday. It has opened higher by 21 paise at 72.18 per dollar versus previous close 72.39. Also, Read - Rupee hits fresh 2019 low; likely to trade around 71-73.25 per dollar in coming weeks The rupee on September 3 dropped sharply by 97 paise to more than nine-month low of 72.39 against the US dollar as heavy sell-off in the domestic equity market, weak macro environment, and a stronger greenback kept investors edgy, said PTI. The Indian currency came under pressure after official data released on Friday showed that India's GDP growth fell to an over six-year low of 5 percent in the June quarter, it added. The domestic currency settled down by 97 paise at 72.39 per dollar, logging its worst single-day fall since August 5 and the lowest closing level since November 13, 2018. ...

Buying Tata Consultancy Services with stop loss at Rs 2220 and target of Rs 2310 and Maruti Suzuki with stop loss at Rs 5900 and target of Rs 6350. A strong wave of selloff enveloped the Indian equity market on September 3, dragging key indices Sensex and Nifty down by over 2 percent. Investor sentiment received a blow after official data on August 30 showed India's gross domestic product (GDP) slowing to 5 percent in April-June 2019. The GDP growth was at 8 percent in the same quarter of 2018-19. Other than worrisome macroeconomic indicators, the rupee's fall against the dollar, weak global sentiment and sustained capital outflow of foreign funds continued weighing on market sentiment. Nifty50 finished 225 points, or 2.04 percent down at 10,797.90, with 48 stocks in the red. Nifty broke multiple support levels on intraday charts and closed below 10,800. The index is trading below its crucial short-term moving averages such as 20-day moving average (DMA), ...

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)...