Markets
Blockbuster Friday: Markets roar to life on tax dose
The Sensex rallied by nearly 2,000 points on Friday, as investors celebrated the announcement of a cut in corporation tax rates as also the removal of the enhanced surcharge on capital gains tax and the withdrawal of the tax on buybacks. However, bonds so
Rupee gains 38 paise to close at one-week high
A report by a foreign investment bank indicated that the rupee’s move beyond 69-70 against the dollar will not be sustainable as the authorities’ bias appears to be leaning against the sharp real
ICICI Securities: Maintain ‘hold’ on Lupin, revised target price Rs 732
Valuations and risks: We cut our EPS estimates by 3-4% and maintain our ‘hold’ rating on the stock with a revised target price of Rs 732/share based on 20x FY21E EPS (earlier: Rs 758).
Axis Capital: Upgrade PVR to ‘add’ with target price of Rs 1.740
The management expects RoCE profile across these screens (over 3-5 years) to be largely in sync with PVR as lower ATP/SPH will get negated with lower per screen capex.
Liquid funds to hold at least 20 per cent of net assets in liquid assets
This provision will come into effect from April 1, 2020. Data from the Association of Mutual Funds in India (Amfi) show that liquid funds' average assets under management (AAUM) as on August was Rs 5.
Westlife development rating: Buy; Store expansion in existing core cities
Despite weak near-term consumer sentiment, the management remains confident of achieving 7-9% SSSG (same-store sales growth) for FY20 due to— Western fast food continuing to grow at robust 14-15% in
Mukesh Ambani-led Reliance Industries replaces TCS as top firm in m-cap valuation
The top five most valued firms by m-cap chart was led by RIL followed by TCS, HDFC Bank (Rs 6,56,546.37 crore), Hindustan Unilever Ltd (Rs 4,26,467.98 crore) and HDFC (Rs 3,54,270.94 crore).
Sensex, Nifty see biggest intra-day gain ever after FM’s tax boosters; key highlights
The headline indices Sensex and Nifty registered their biggest one-day gain in over a decade after FM Nirmala Sitharaman announced a slew of big-bang reforms to revive the ailing economy.
Mother Dairy, Dhara, Safal: Indigenous brands saving grace as IL&FS fallout hits credit rating
While Mother Dairy’s bank credit rating has been hit as a result of the IL&FS debt default, Delhi NCR’s largest milk vendor’s indigenous food brands Dhara and Safal have come as the support behi
HDFC to raise up to Rs 3,000 crore via bonds to augment long-term capital
The issue size is of Rs 2,000 crore with an option to retain subscription up to Rs 3,000 crore.
Gold slips Rs 170 as rupee gains on FM Nirmala Sitharaman’s announcements
Gold fell by Rs 170 to Rs 38,390 per 10 gram on Friday in the national capital on the strong rupee which rallied after Finance Minister Nirmala Sitharaman announced corporate tax cut.
Oil prices march to biggest weekly gain in months as Middle East tensions dominate
Brent crude is on track to rise about 7.7% this week, the biggest weekly gain since January.
Share Market highlights: Sensex sees biggest ever one-day gain, ends 1,921 points up
Share market highlights: The headline indices Sensex and Nifty registered their biggest single day gain ever, after FM's mega tax cuts.
Gold edges higher on soft dollar, heads for first weekly gain in four
Spot gold was up 0.2% at $1,501.35 per ounce, as of 0142 GMT, adding nearly 1% so far this week in what would be its first weekly gain in four.
Global markets: Asian shares gain on economy hopes, oil edges up on Mideast tensions
On Thursday, the S&P 500 ended flat, staying than less than 1% below its closing record high hit in July while the pan-European FTSEurofirst 300 index also came within sight of this year's peak.
ICICI Securities: Maintain ‘buy’ on Tata Power, target price Rs 87
This divestment will be a step in that direction. We also expect the Zambian subsidiary’s divestment to be closed in FY20 itself at an attractive valuation given that it is also a profitable busines
Axis Capital: ‘Buy’ on Biocon, target price stands at Rs 300
Investing for next growth cycle: Expects filing of bevacizumab in the US and the EU by end FY20 and approvals by FY22, Development of Insulin Aspart for EU and US, and developing a basket of biosimila
Many large corporates will raise equity to fund growth: Ajay Saraf, ED and head of investment Banking, ICICI Securities
On the other hand, we have a strong broking franchise which gives any entity who is looking at raising public capital an unparalled access to 4.5 million retail and wealth investors. A combination of
Indian equities still expensive despite sharp correction
Even in 2017, while consensus analyst estimate at the beginning of the year projected Sensex’ earnings to grow by 30.9% during the year, they actually grew by just 9.3%. Similarly, in 2016, while an
NY Fed injects USD 75 billion into US money markets
For a third straight day, the Federal Reserve Bank of New York on Thursday injected billions into US money markets to preserve the Fed's control over short-term interest rates but requests for funds i
Bharat-22 ETF 4th tranche may hit markets in October; ICICI Prudential Mutual Fund files draft papers with Sebi
The government is likely to launch the fourth tranche of Bharat-22 ETF next month with ICICI Prudential Mutual Fund filing draft papers with markets regulator Sebi.
PNB to raise up to Rs 3,000 cr through Basel III compliant bonds; key things
Punjab National Bank on Thursday said it will raise up to Rs 3,000 crore by issuing Basel III compliant bonds in one or more tranches.
Gone in 360 minutes: Investors lose Rs 1.65 lakh crore as equities face heavy selloff
Investor wealth dropped by Rs 1.65 lakh crore on Thursday as equities witnessed a heavy sell-off, with the BSE benchmark plunging 470 points.
HDFC Bank shares close higher after stock split
Shares of India's major private sector lender HDFC Bank ended higher on Thursday after the stock went ex-split.
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BUDGET 2019
- Budget 2019: Central govt to contribute 14% to NPS, employees to get 80C benefit on Tier-II deposits from April 1
- Budget 2019: Hike in import duty may dampen the gold rush
- Budget 2019: More power to villages; Rs 2 lakh crore allocated to Panchayats in five years
- Budget 2019: Healthcare sector expects hike in exemption limits for health checkup, medical reimbursement
