Markets

Gold prices fall Rs 74 on stronger rupee

HDFC Securities Senior Analyst (Commodities) Tapan Patel said spot gold prices for 24 Karat (99.9 per cent purity) in Delhi was trading down at Rs 38,775 per 10 gram on broad selling and a stronger ru

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OPEC kingpin Saudi Arabia raps oil producers over flouting of output cuts

Riyadh has been shouldering the burden of existing production cuts, but other nations -- notably Nigeria and Iraq -- are accused of exceeding their quotas.

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JM Financial’s asset reconstruction subsidiary raises Rs 183 cr debt from parent company

JM Financial has acquired 4,916,104 CCDs (convertible into 49,161,040 equity shares as per the terms of issue) for cash aggregating to Rs 183.37 crore of JM Financial Asset Reconstruction Company Ltd

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Sensex rises over 150 points; Tata Steel, ICICI Bank, IndusInd Bank top gainers

Domestic equity benchmark BSE Sensex advanced 150 points in early session on Thursday, driven by by gains in banking, metal and energy stocks, ahead of key macroeconomic data releases.

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Gold slips as thaw in Sino-US trade woes lift equities

Asian stocks rose on hopes for a thaw in U.S.-China trade frictions and expectations that the ECB will kick off another wave of monetary easing by global central banks.

Gold prices, US China trade tensions, Donald Trump, Chinese goods, Spot gold, US gold futures, Brexit News

Oil rises as US, China swap concessions in trade war, inventories fall

The rise came after China moved to exempt some U.S. anti-cancer drugs and other goods from tariffs, while President Donald Trump announced a delay to scheduled tariff hikes on billions of dollars' wor

Oil prices, US crude, Brent crude futures, Chinese goods, Asia Pacific market, Washington, Beijing News

S&P revises Indian Bank outlook as ‘negative’ post merger announcement

S&P Global Ratings revised its outlook on Indian Bank’s long-term issuer credit rating to negative from stable on Wednesday.

The ratings agency revised its outlook on Indian bank’s ‘BBB-’ long-term issuer credit ratings to negative from stable, which reflects a one-in-three chance of a downgrade by one notch over the next 18-24 months News

Global markets: Asian stocks rise on hopes for US-China trade, monetary stimulus

Australian shares were up 0.41%. U.S. stock futures jumped and safe-havens such as the yen and gold fell after U.S. President Donald Trump agreed to delay an additional increase in tariffs on Chinese

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Sundaram MF raises Rs 358 crore through new fund offer

Sundaram Mutual Fund has raised Rs 358 crore through its recent new fund offer (NFO), Sundaram Equity Fund.

The fund will re-open for fresh subscriptions on September 16 News

Motilal Oswal: Maintain ‘buy’ on Trent; target price at Rs 515

Standalone revenue increased 23% to Rs 25.3 bn in FY19, primarily led by Westside (+18%) and Zudio (newly started fast fashion value format; +42% to Rs 2 bn).

Trent intends to raise Rs 15 bn to fund its growth plans, of which Rs 9.5 bn is already raised from Tata Sons News

Jeffries: Maintain ‘buy’ on UPLL with revised PT of Rs 745

UPLL has dipped 17% from its Jul'19 highs, post a sharp uptick of 70%+ from Oct'18 lows. Q1FY20, first full quarter post Arysta, was erratic as it factored PPA* effect (inventory, depreciation).

Albeit, UPL management retains its FY20e outlook of 8-10% sales, 16-20% EBITDA growth & deleveraging of Rs 31.5-35bn News

Auto, realty indices gain on stimulus expectation

Auto and realty stocks staged a smart recovery on Wednesday on anticipation of a stimulus plan that the government could announce.

The BSE Realty and BSE Auto indices gained by 4.45% and 3.51% respectively on Wednesday News

SBI approves sale of 3.5% stake in SBI Life

The country’s largest lender, State Bank of India (SBI), on Wednesday approved to divest at least 3.5% stake in SBI Life Insurance through the offer for sale (OFS) route.

SBI Life in the notice to exchange said that SBI proposes to sell 3.5 crore shares in aggregate representing 3.50% of the total issued and paid-up equity share capital of the company News

Cotton industry prepares for MSP purchase in new season, feels market intervention may not be needed

Amid speculation that private players may stay away from cotton purchase, the Cotton Corporation of India (CCI) has begun preparing for the season ahead.

According to a tweet by Cotton Guru — a cotton advisory service — the crop is at fruiting stage and weather could be the next game changer News

Uttar Pradesh raises paddy MSP by Rs 65 a quintal

The state cabinet approved the procurement rate of Rs 1,815 per quintal for the common variety and Rs 1,835 per quintal for grade A variety.

Paddy procurement will start in some districts from October 1 and will run till January 31, 2020 News

Shares of this biggest fast food chain face heat amid economic slowdown as Indians cut down on eating out

Eating out is one of the first expenditures that consumers reduce when the economy slows, but restaurants are also the first to benefit when sentiment turns around.

equity investors, Dominos Pizza, Dunkin Donuts, Jubilant Foodworks Ltd, Equirus Securities Pvt, Goldman Sachs Group Inc, jubliant stocks, Edelweiss Financial Services Ltd News

Double blow for stock market: Credit Suisse downgrades India two steps in model portfolio

In what could be a blow to the stock market, global firm Credit Suisse has downgraded India amid the ongoing economic slowdown.

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Yes Bank share price surges after reports of Rana Kapoor selling stake to Paytm

Shares of private sector lender Yes Bank surged on Wednesday morning after reports that founder Rana Kapoor is in talks with Vijay Shekhar Sharma-led Paytm to sell stake.

Ravneet Gill, the current chief executive officer of Yes Bank who took charge in March, has said the bank wants to increase focus on compliance and governance. News

Share Market highlights: Sensex ends 76 points up, Nifty above 11,000; Yes Bank, Tata Motors top gainers

Share Market highlights: The headline indices Sensex and Nifty extended gains on Wednesday afternoon, tracking mixed global cues.

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Gold prices inch up amid cautious mood; investors eye European Central Bank meet

Spot gold was up 0.4% at $1,491.60 per ounce, as of 0120 GMT.

Gold prices, Germany, Europe, US gold futures, US China trade war, Angela Merkel, sovereign bond markets News

Oil prices rise after data shows big drop in US inventories

Prices had ended lower on Tuesday, squeezed by speculation of a return of sanctions-hit Iranian crude exports to the market following United States President Donald Trump's move to fire national secur

Oil prices, crude stockpiles, US, Donald Trump, refinery crude, Iran nuclear deal, Iranian crude exports News

Global Markets: Bond yields, stock prices supported ahead of central bank meetings

On Wall Street, the S&P 500 ended little changed as a rally in energy and industrial shares countered a drop in the technology and real-estate sectors with investors favouring value over growth.

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Cane pricing: ISMA calls for adoption of global practices

The Indian Sugar Mills Association (ISMA) has called for adoption of international laws and practices on cane pricing.

Instead of making more sugar, there is enormous scope to divert surplus cane to ethanol, Abhinash Verma, director general, ISMA said News

Punjab slashes VAT on natural gas to 3.3 per cent

However, the VAT on compressed natural gas, used mainly as auto fuel, will remain at 14.3 per cent, an official statement said here.

The chief minister said the move would help cut down on industrial pollution in the state. (File photo) News

Small stocks take big hit, tank up to 15.42 per cent so far in FY20

An analysis of the performance of the three indices shows that the S&P BSE smallcap index has dropped 2,317.4 points or 15.42 per cent so far this fiscal and midcap index has tanked 1,985 points or 12

During times of uncertainty in markets, small stocks are more prone to heavy selling pressure. (File photo) News

Gold ETFs register first inflow in 9 months in August at Rs 145-crore on higher gold prices

According to latest data available with Association of Mutual Funds in India (AMFI), a net sum of Rs 145.29 crore was pumped in gold-linked ETFs last month.

In 2012, gold ETFs saw an inflow of Rs 1,826 crore. News

Zee starts repaying lenders ahead of deadline; HDFC, ICICI other MFs get up to 60% money back

Billionaire Subhash Chandra-promoted Zee Enterprises has reportedly started repaying its lenders ahead of the Sep 30 deadline as a part of its Rs 11,000 crore debt reduction programme.

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