Markets

Hindustan Zinc Rating: Hold- Q2 indicates company’s on steady course

Integrated silver output key surprise in results; firm paid interim dividend of Rs 21.3; ‘Hold’ rating maintained
Integrated zinc production was 180kte, up 9% y-o-y and 15% q-o-q, while integrated lead output was 57kte, up 29% y-o-y and 28% q-o-q.

Karnataka HC restrains Franklin Templeton from winding up its six schemes without investors’ consent

A Division bench of Chief Justice Abhay S Oka and Justice Ashok S Kinagi on Saturday passed the order while hearing a petition by the investors challenging Franklin Templeton's decision to wind up its

Franklin Templeton had contended that the winding up of the schemes was in accordance with the SEBI's guidelines.

HDFC twins, ICICI Bank lead 6 of 10 most valued firms to add Rs 86,683.71 cr in market valuation

Hindustan Unilever Ltd (HUL) and Infosys saw erosion in their market valuation. HDFC Bank, India's biggest private sector lender, witnessed its valuation soar by Rs 20,198.59 crore to stand at Rs 6,80

HCL Technologies gained Rs 6,824.87 crore to Rs 2,31,272.11 crore. In contrast, the valuation of RIL diminished by Rs 42,567.02 crore to Rs 14,28,514.26 crore.

Quarterly earnings, global trends major drivers for market movement this week: Analysts

Stock markets this week will be steered by the ongoing quarterly earnings season and global trends with the focus shifting to the US elections, analysts said.

FPIs remain net buyers in October so far amid better than expected financial results

In equities, FPIs invested a net sum of Rs 15,642 crore and the debt segment saw an inflow of Rs 2,107 crore during October 1-23, the depositories data showed.

Alibaba’s Jack Ma: Ant Group’s dual listing in Hong Kong, Shanghai to be world’s biggest ever

While the pricing of the listing was determined on Friday night, according to Ma, the details of the pricing weren't disclosed by him even as it is likely to be out next week.

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Recognised PFs can invest in ‘A’ or higher rated securities: CBDT

The Central Board of Direct Taxes (CBDT), in a notification dated October 22, has amended Income Tax rules allowing recognised PF trusts to invest in 'A' or above rated securities in 2020-21 fiscal.

LIC IPO may spill over to next fiscal

Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said the pre-IPO work of LIC is going on at four stages -- appointment of advisors for ensuring compliance, le

Karnataka HC: Trustees cannot wind up Franklin Templeton debt schemes without investors’ consent

The fund house had wounded up six debt schemes collectively worth Rs 25,800 crore on April 23 due to the severe market dislocation and illiquidity caused by the Covid-19 pandemic.

Later, investors had approached the Supreme Court, which had transferred the petitions before the HCs of Delhi, Madras and Gujarat to the Karnataka High Court.

Vedanta approves first interim dividend for FY21 days after failed delisting offer

Vedanta Ltd's delisting went from almost-a-success to failure on account of a large quantity of unconfirmed orders.

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BSE inks MoU with ICCI to support SMEs, start-ups in listing

Through this association, ICCI will offer assistance in evaluating SMEs and start-ups for listing on BSE SME board, BSE said in a statement.

To make this a real success, ICCI will conduct various networking activities, awareness camps, interactive sessions and business events.

Onions to cost Rs 35 per kg in bazaars of Hyderabad

The subsidised sale beginning today would be available at 11 Rythu Bazaars, a market where small farmers can sell vegetables directly to consumers, in the state capital, an official press release said

Two kilos of onions would be sold per person and the consumers have toshow any identity card, the release said.

Markets might be overstretched but their strength can’t be ignored, IT stocks may continue facing resistance

As financials have major weightage in index too so, there will be impacts on indices too. Technically speaking, Bank Nifty is holding above 200EMA since the last four trading sessions which are bullis

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Franklin Templeton case: Karnataka HC says fund house needs consent of unitholders for winding up

The Karnataka High Court on Saturday asked Franklin Templeton India seek the consent of unitholders before proceeding with the process of winding up six of its debt mutual funds schemes.

Rakesh Jhunjhunwala, wife Rekha hike stake in 4 firms, add another Tata group firm to their portfolio

Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hiked their stake in 4 companies while they added a new Tata stock to their portfolio in the July-September quarter.

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Sensex, Nifty just 2% shy of erasing year-to-date losses; will stock market hold gains next week?

Stock markets continued their range-bound action this week but managed inch higher during the last five trading sessions.

stock market

Markets post big weekly gains

The declining number of Covid-19 cases domestically cheered the markets along with the positive global cues.

Maintain ‘neutral’ on Asian Paints with TP of Rs 1,980

Asian Paints (APNT) witnessed consistent MoM demand improvement in 2QFY21.

Analyst Corner: Retain ‘reduce’ on HDFC AMC with unchanged FV of Rs 1,950

On a qoq basis, QAAUM was up 5% (on the back of 12% growth in equity AUMs) leading to 3 bps rise in yield and 4 bps expansion in core PBT.

Cotton prices may remain under pressure on huge carryover stocks

Currently, prices for Shankar-6 ginned variety, the benchmark for exports to the global market, are ruling at Rs 40,200-40,700 a candy (356 kg).

The industry had gone into a shutdown mode that had led to a drop in consumption levels to 250 lakh bales from the previous estimates of 330 lakh bales.

Deregulation? Govt imposes stock limits on onion

The decision came in less than five months after it promulgated an ordinance amending the Essential Commodities (EC) Act to ‘de-regulate” key foodstuffs such as cereals, edible oils, oilseeds, pul

Public sector firm MMTC has been asked to import onion, the consumer affairs secretary said.

Britannia Industries Rating: Buy- Performance was in line with estimates

Volumes fell q-o-q given rise in outdoor consumption; outlook is strong; ‘Buy’ retained with TP of Rs 4,345

HDFC Life Rating: Buy-Rebound in premiums was impressive

Recovery was led by Par business; EPS estimates up given better trajectory on premiums; ‘Buy’ rating retained with TP of Rs 760

We raise VNB estimates and see 17% CAGR in VNB over FY20-23 with 18% FY22 ROEV.

Sebi drops proceedings against IL&FS Financial Services related to alleged violation of underwriter norms

Sebi initiated proceedings under Intermediaries norms and appointed a designated authority (DA) to look into the matter.

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