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The Zambian government is determined to "urgently secure" an investor for Konkola Copper Mines (KCM) once the court processes over the disputed liquidation of the mine are concluded, the mines minister said on Thursday. Vedanta Resources has been locked in a dispute with the Zambian government since May when Lusaka appointed a liquidator to run KCM, which is 20% owned by Zambia's state mining company ZCCM-IH and the rest by Vedanta. "I would like to categorically state that, much as the Konkola Copper Mines matter is in court, the government is willing to listen to any progressive talks that will facilitate an amicable exit of the investor," Minister of Mines and Minerals Development Richard Musukwa said in a statement. "Government is determined, once the court processes are concluded to urgently secure a credible investor in an open and transparent manner." Best Share Market News, Click Here To Get More News -  Stock Mar...

Substitution of a large part of our import basket by indigenous manufacturing and attracting FDI in select large projects with predictable return could kickstart a virtuous cycle. Monetary stimulus so far has had little impact The current slowdown is more structural than cyclical India bypassing manufacturing to a service-led economy has hurt job creation Make in India should be taken up on a war footing The focus should be on the substitution of imports by domestic manufacturing Identity large projects, provide all clearances and invite FDI with a predictable return This could help start a virtuous cycle The economic slowdown is clearly the talk of the town from boardrooms to bazaars. While financial markets and businesses are looking to the government to salvage the situation which is now hurting industries ranging from automobiles to soaps, shampoos and biscuits, nobody really knows what is needed to come out of the mess. Monetary stimul...

NMDC Ltd’s loss of the Dorimalai mine in Karnataka has cast a shadow over its business model and could further hurt the stock’s valuation.  NMDC shares have already lost 12.7% of their value in the past two days due to the state government’s move. The Karnataka government’s cancellation of the mine lease to NMDC will not only reduce the mining giant’s capacity but also increase its cost of acquiring a new lease. The state government is likely to offer the mine under e-auction again, which could raise its bidding cost. Earlier, NMDC had halted production at the mine after the state government renewed the lease with a condition of payment of 80% of the sale value as lease rental. NMDC won an appeal in the high court and the order was set aside. Production at the mine was expected to resume soon. However, the state government has once again cancelled the allotment and put up the mine for e-auction. The Donimalai mine contributes about 6mtpa capacity or around...

In the last two months, this is the second time a large builder is under the scanner of the investigation department of Income Tax. Shares of Capacite Infraprojectsplunged as much as 16 percent to their all-time low at Rs 156, while those of Oberoi Realty cracked 7 percent to hit intraday low of Rs 487.50 in August 21 session. Shares of both companies suffered losses after the Income Tax Department, on August 20, conducted searches at offices of Oberoi Realty and its vendor Capacite Infraprojects to probe suspicious fund trails in the companies. Confirming the development, a senior official of I-T Department told Moneycontrol there was suspicion on related party transaction within Oberoi. The department also suspected a difference between the sale price of housing units shown on the books and the registered prices. Oberoi Realty was under the scanner of Ministry of Corporate Affairs for alleged misuse of the proceeds from its Initial Public Offering (IPO), as ...

Nifty continued to remain volatile as it couldn’t manage to hold gains. The index has immediate support at 10,970. Nifty50 closed the rangebound session lower on August 19 but managed to hold psychological 11,000 levels amid mixed global cues and hoped of stimulus measures from the government to revive the economy. The index continued to remain volatile as it could not manage to hold gains and shut shop in the red. Now, the index has immediate support at 10,970. After touching intraday high and low at 11,076.30 and 10,985.30 respectively, the index ended the day with a loss of 37 points, or 0.33 percent, at 11,017. Among the 50 stocks in the index, 20 advanced and 30 declined. The index formed a bearish candle on daily charts as selling pressure was seen at higher levels while, at the same time, the decline was being bought into the market. On the Options front, maximum Put open interest is at 11,000 followed by 10,800 strikes while maximum Call open inter...

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.

Our advice to traders and short-term traders is to stay away in taking bullish call for the next few weeks on HDFC. In the truncated week, the market managed well to sustain above its crucial support placed at 11,000 amid uncertain global cues and disappointments from domestic developments. Bulls helped the Nifty to pull out from the lows of 10,900-10,940 to close the week at 11,048, which is positive for the market. However, on a weekly basis, the index closed in the red. A couple of weeks prior, Nifty closed 1.97 percent higher than was the first positive close, and after that, we saw four consecutive weeks of fall that resulted in a damage of nearly 900 points. In the previous week, even though, the flows were not satisfactory, Nifty managed to sustain above 10,785, which was the lowest of the current sell-off. If the index has to surpass 11,181 which is the recent swing high, it requires some more fuel. In the previous week, the Nifty neither broke the l...

Halol is a crucial facility for Sun Pharma as it contributes around 15 percent of total US sales. Shares of Sun Pharmaceutical Industries rallied 4.7 percent intraday on August 19 after the US health regulator classified the company's Halol plant as 'No Action Indicated'. No Action Indicated means no objectionable conditions or practices were found during the inspection (or the significance of the documented objectionable conditions found does not justify further action). The Halol unit was inspected by the US Food and Drug Administration during June 3-11, 2019 and the regulator issued four observations. Halol is a crucial facility for Sun Pharma as it contributes around 15 percent of total US sales. The unit was under USFDA warning letter since December 2015 and the same was lifted in 2018. The health regulator has issued an Establishment Inspection Report to plant in June last year. The stock was quoting at Rs 430.85, up to Rs 16.10, or...

The rupee has been Asia's worst performer in August but a string of positive news could arrest the fall in the coming days. After a long phase of consolidation, the USDINR, as expected, continued the up move in the previous week too. Though the bulls opted for profit booking at higher levels and on a weekly basis, the currency pair closed off the week high but still gained 86 paise. The dollar has appreciated more than 3.3 percent the last three weeks but the currency pair is likely to settle down at current levels and minor dip is also not ruled out. The huge rally of the last three weeks is now showing signs of abating, as prices formed “island reversal” candlestick pattern on the daily chart basis. Long positions should be avoided as there is a gap on daily as well as weekly chart and currency pair is trading far away from its 20-day moving average (DMA). Generally, any extraordinary change in price is settled down near its 20 DMA and in this case, i...

Shares of Apollo Hospitals Enterprise Ltd have gained 10% since it announced its June quarter results on 13 August. With the performance reassuring investors on asset optimization and profit metrics, the stock hit a new 52-week high of  1,4687 on Friday. Losses the company’s new ventures, housed under Apollo Health and Lifestyle Ltd, reduced significantly. And, higher revenues at its pharmacy and hospitals improved operating earnings by 27%. Consolidated profit margins rose to 11.4% year-on-year, taking it to the highest levels in recent quarters. However, the quarter saw a moderation in inpatient growth compared to the year-ago period. “Inpatient volume growth moderated in the quarter to 5.9% for the healthcare business and pricing/mix was the key driver of the 15% (revenue) growth," said Jefferies India Pvt. Ltd in a note. Even so, the profitability gap between new and established hospitals remains enormous and has scope for improvement. Additionally, per-sto...

India's largest lender, the State Bank of India, on Sunday said that it is extending the repayment period for stressed automobile dealers by 15-30 days to help them out of current inventory builds-ups due to the slowdown in the sector and in the economy. "Normally, the repayment period is 60 days. So we extend it for 75 days for some dealers and to 90 days for a few others. We are talking to each dealer. We also had meetings with the Federation of Auto Dealers. We are actively engaged with all of them.  "On a case to case basis, whichever dealer has faced any problem on account of excess inventories, we have been working out solutions for all of them," SBI's Managing Director, Retail & Digital Banking, P.K. Gupta said. He also said the current slowdown would not create NPAs.  The auto sector is the worst-hit sector in the current slowdown and apart from huge inventory build-up, the companies are resorting to production shutdowns to c...

Kushner, Trump's son-in-law, is the main architect of a proposed $50 billion economic development plan for the Palestinians, Jordan, Egypt, and Lebanon that is designed to create peace in the region. US President Donald Trump said he would likely wait until after Israel's September 17 elections to release a peace plan for the region that was designed by White House senior adviser Jared Kushner.  Kushner, Trump's son-in-law, is the main architect of a proposed $50 billion economic development plan for the Palestinians, Jordan, Egypt, and Lebanon that is designed to create peace in the region. 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.

The rupee recovered from early lows to close higher by 13 paise at 71.14 against the US currency on August 16 in line with firm local equities, defying gains in the greenback overseas and foreign capital outflows. The Indian rupee opened marginally lower at 71.17 per dollar on Monday versus Friday's close 71.14. The rupee recovered from early lows to close higher by 13 paise at 71.14 against the US currency on August 16 in line with firm local equities, defying gains in the greenback overseas and foreign capital outflows. The rupee opened on a weak note and fell to a day's low of 71.47 due to gains in the dollar and crude oil in global markets, it added. 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.

2018 की अप्रैल-जून तिमाही के मुकाबले 2019 की समान अवधि में जलविद्युत बिजली उत्पादक कंपनी एनएचपीसी (NHPC) के शुद्ध लाभ में 17% की बढ़ोतरी दर्ज की गयी है। कंपनी ने 832.9 करोड़ रुपये की तुलना में 974.7 करोड़ रुपये का मुनाफा कमाया। साल दर साल आधार पर ही एनएचपीसी की कुल आमदनी 2,479.1 करोड़ रुपये से 11% की बढ़ोतरी के साथ 2,754.5 करोड़ रुपये रही। तीव्र गर्मी में चुनाव संबंधित गतिविधियों के कारण बिजली की माँग में वृद्धि हुई, जिससे कंपनी के विद्युत उत्पादन में 22% इजाफा हुआ। विद्युत उत्पादन में बढ़ोतरी से कंपनी के नतीजों को सहारा मिला। साल दर साल आधार पर ही एनएचपीसी का एबिटा 14% बढ़ कर 1,628.9 करोड़ रुपये और एबिटा मार्जिन 90 आधार अंकों की वृद्धि के साथ 62.4% रहा। दूसरी तरफ बीएसई में एनएचपीसी का शेयर शुक्रवार को 0.45 रुपये या 2.00% की गिरावट के साथ 22.10 रुपये के भाव पर बंद हुआ। इस भाव पर कंपनी की बाजार पूँजी 22,673.10 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 -  Sha...

The company reported a standalone net profit of Rs 381.87 crore for the quarter ended June 30, 2019, as compared to Rs 409.14 crore in the same period last year, registering a year-on-year decline of 6.67 percent.  Net revenue of the company declined marginally by 1.70 percent at Rs 1,101.36 crore in the April-June quarter of this fiscal as against Rs 1,120.39 crore in the corresponding period last year. During the April-June quarter, operating expenses increased by 8.50 percent to Rs 418.45 crore from Rs 385.68 crore in the year-ago period. Other Income grew by 45.41 percent at Rs 56.71 crore versus (Jun'18 Rs 39.00 crore). Operating profit slipped by 7.05 percent to Rs 682.91 crore as against Rs 734.71 crore in the year-ago period, while Operating Profit Margin (OPM) contracted year-on-year to 5.44 percent in June quarter. Interest grew by 700.00 percent y-o-y to Rs 2.08 crore, while Taxation decreased by 9.35 percent at Rs 197.21 crore (Jun'18 Rs 217.54 crore...

There are hopes that the surcharge tax on FPIs will be reduced but if it happens or not is anybody’s guess. And if it does, markets will cheer and open gap up in the next week. Any positive news by the government will definitely cause a short-term buzz of buying in the markets taking indices to its 50 percent retracement levels of 11,450, Umesh Mehta, Head of Research, SAMCO Securities, said in an interview with Moneycontrol’s Kshitij Anand. Q: It was an eventful week for Indian markets. The S&P BSE Sensex is back above 37,000 while the Nifty reclaimed 11,000. How are markets likely to pan out in the coming week? A: Since there are no major events awaiting the Street and all the local and global factors such as trade wars, currency, etc., have been factored in, markets will move on speculations. There are hopes that the surcharge tax on FPIs will be reduced but if it happens or not is anybody’s guess. And if it does, markets will cheer and open up the gap ...

The company reported a standalone net profit of Rs 62.73 crore for the quarter ended June 30, 2019, as compared to Rs 57.67 crore in the same period last year, registering a year-on-year growth of 8.77 percent.  Net revenue of the company declined marginally by 3.56 percent at Rs 587.67 crore in the April-June quarter of this fiscal as against Rs 609.35 crore in the corresponding period last year. During the April-June quarter, operating expenses dropped by 6.59 percent to Rs 484.67 crore from Rs 518.85 crore in the year-ago period. Other Income dipped by 33.71 percent at Rs 11.07 crore versus (Jun'18 Rs 16.70 crore). Operating Profit surged by 13.81 percent to Rs 103.00 crore as against Rs 90.50 crore in the year-ago period, while Operating Profit Margin (OPM) expanded year-on-year to 18.05 percent in June quarter. Interest declined by 19.83 percent y-o-y to Rs 3.80 crore, while Taxation increased by 15.03 percent at Rs 33.22 crore (Jun'18 Rs 28.88 crore). ...