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Monsoon rains are crucial for farmers who plant cane as well as corn, cotton, rice and soybean in June and July. Sugar stocks gained momentum on June 27 on back of monsoon that has finally covered most of the country this week. Rajshree Sugars was the biggest gainer among them with 19 percent upside, followed by Balrampur Chini, Bajaj Hindusthan, Uttam Sugar, Ugar Sugar, Dalmia Sugar, Dhampur Sugar, Dwarikesh Sugar, Kothari Sugars, Sakthi Sugars, etc., which gained between 3-7 percent intraday. Monsoon rains have covered most parts of cane fields in Western India, Met Department said earlier this week. Hence, a shortfall in monsoon rains narrowed to 37 percent of the long-term average against 44 percent between June 1 and June 19, the office added. Monsoon rains are crucial for farmers who plant cane as well as corn, cotton, rice and soybean in June and July. In addition, momentum in stocks could be on account of a hope that the government may increase i...

Highlights: - HDB Financial Services’ share sale likely in the current fiscal  - HDFC Bank has reportedly appointed Bank of America Merrill Lynch and Morgan Stanley to manage the initial share sale of HDB Financial India’s largest private sector lender, HDFC Bank, is eyeing an initial public offering (IPO) of its non-bank lending unit, HDB Financial Services, that could see the company raise more than $1 billion, said two people aware of the development. HDB, founded in 2007, offers various products such as personal loans, commercial vehicle loans, gold loans, and loans against property. “They have been engaging with various investment banks over the last one month regarding their plans to list HDB Financial Services. They are likely to raise around Rs 7,000-8,000 crore or more through the IPO. While the IPO is expected to be a mix of primary and secondary share sale, it will largely be a primary capital raising exercise given the current market conditions,"...

The government may try to showcase its next five years' plan in the Budget 2019 to boost the slowing economic growth with fiscal discipline. Reliance Securities While the expectations are running high from the Union Budget 2019-20, it is unlikely to surprise the Street given the limited resources with the government. We believe the government may try to showcase its next five years' plan in the Budget 2019 to boost the slowing economic growth with fiscal discipline. The need of the hour is to arrest falling GDP growth and the government may try to target several segments with various sops to boost the ailing economy and job creation. In addition to a strong focus on the infrastructure development and higher income for the rural population, we believe reviving real estate can have a cascading impact on several sectors including cement, metals, building materials, paints, etc. By providing various sops to the housing sector, the government can ...

The top gainers from the NSE include Bharti Infratel, Indiabulls Housing Finance, IndusInd Bank, Mahindra & Mahindra and Axis Bank while the top losers are Tech Mahindra, UPL, Dr Reddy's Labs, Power grid and Adani Ports. Following positive Asian cues the Indian benchmark indices are trading in green with Nifty up 30 points at 11,878 while the Sensex gained 123 points and is trading at 39,715 level. Nifty Realty is the outperforming sector, up over 2 percent led by Indiabulls Real Estate which jumped 5 percent followed by Prestige Estates, Oberoi Realty, Sunteck Realty, Unitech, Godrej Properties and Brigade Enterprises. Auto stocks are also buzzing led by Ashok Leyland, Eicher Motors, Motherson Sumi Systems, Mahindra & Mahindra, Tata Motors, Tata Motors DVR and TVS Motor Company. However, pharma stocks are down in this morning session led by Aurobindo Pharma, Dr Reddy's Labs, Glenmark Pharma, Sun Pharma and Divis Labs. India VIX is down 0.8...

Morgan Stanley said industry's structure has improved and three operators now dominate telecom sector. Bharti Infratel shares gained 2.6 percent intraday on June 27 after global investment firm Morgan Stanley resumed its coverage with overweight rating on the stock, citing stability in tenancy. The stock was quoting at Rs 276.60, up Rs 5.60, or 2.07 percent on the BSE at 09:49 hours IST. Morgan Stanley said industry's structure has improved and three operators now dominate telecom sector. "Airtel's revenue is showing early signs of recovery and in case of Bharti Infratel, large tenancy deletions are done and we are hoping for stability," the brokerage said, adding tariff increase is a key catalyst for stocks and industry repair. Hence, Morgan Stanley resumed coverage with equal-weight rating on Bharti Airtel and set a price target of Rs 360, implying 4 percent potential upside from current levels. Best Share Market News, Clic...

Prices fell more than 1% in the previous session after U.S. Federal Reserve officials dented expectations of aggressive interest rate cuts. Gold prices were little changed on Thursday following a steep fall in the previous session, as investors waited on any Sino-U.S. trade developments later this week, while bulls rolled back hopes of big U.S. interest rate cuts. Spot gold was down 0.1% at $1,407.25 per ounce at 0350 GMT. Prices fell more than 1% in the previous session after U.S. Federal Reserve officials dented expectations of aggressive interest rate cuts. U.S. gold futures were 0.3% lower at $1,411 an ounce. "There appears to be some fatigue around preannouncements on the trade issues ... If we don't see any sort of agreement, then we can see support for gold coming back, but in the meantime that modulation is expected to weigh on gold prices," said Michael McCarthy, chief market strategist, CMC Markets. "This looks like a corre...

Most of the companies have high debt and are facing structural issues, hence, investors should avoid catching the falling knife even at current levels, suggest experts. On June 28, 34 stocks will no longer be part of futures and options (F&O) segment on the NSE. The exchange, in a notification in April, had said that it would not issue F&O contracts for these stocks once June series expires. These stocks include Reliance Power, Jet Airways, Jain Irrigation, PC Jeweller, IRB Infrastructure, CG Power, CEAT, Ajanta Pharma, IDFC, Kaveri Seed Company, South Indian Bank and Godrej Industries, among others. Since their exit from the F&O segment was notified, i.e. April 22, only seven of these 34 stocks have delivered positive returns. Year-to-date, just four of these stocks have given a positive return. Though NSE's decision may not have been a cause of their journey in the red, these stocks certainly extended their losses after the notification was r...