Created 09:42:57 am
Bulls Have Taken Charge, Nifty To Move Higher: Chandan Taparia
Created 09:39:37 am
NHPC Head For 6-Year High As Dividend Payout Increases Yield
Shares of the hydropower generation company advanced as much as 12.4 percent, extending three-day gains, on volumes 15.2 times its three-month full-day average.
The company will pay Rs 1.7 per share as interim dividend for this fiscal. The stock currently has indicated yield of 7.65 percent and also was the second best among S&P BSE 500 index, according to Bloomberg data.
Updated 09:20:10 am Created 09:19:44 am
Cyient Q3 Misses Street Estimates; Stock Off Day’s High
Shares of the software solutions firm gained 1.7 percent after reporting its third quarter earnings. The company reported a net profit of Rs 94.16 crore for quarter-ended December, which was slightly lower than the estimate of Rs 92.70 crore by analysts polled by Bloomberg.
Its clocked net sales of Rs 917 crore for the three-month period, which was also lower than estimates by around Rs 100 crore.
The stock had risen as much as 10.5 percent intraday. It has gained three out of the four days so far this week.
Updated 09:19:44 am Created 09:01:25 am
Bajaj Corp Q3 Meets Street Estimate; Stock Gains
Shares of the hair oil maker gained as much as 2.3 percent after its third quarter earnings met street expectations.
The company, which is part of the Shishir Bajaj group, reported a net profit of Rs 57.8 crore for the three-month period ending December. This was in line with Rs 57.5 crore estimated by analysts polled by Bloomberg.
However, it managed sales of around Rs 187 crore for the quarter, which was below the estimated figure of Rs 198 crore.
Created 08:20:43 am
European Shares Decline
Updated 09:19:44 am Created 07:51:25 am
Indian Hotels Rises Most Since November 22 Post Supreme Court Order
Supreme Court asked the New Delhi Municipal Council (NMDC) to reconsider its earlier decision not to extend permit to Indian Hotels for Taj Mansingh. The apex court has asked NDMC to take fresh call on Taj Mansingh in 6 weeks.
Shares of Indian Hotels rose as much as 6.1 percent to Rs 103.70 post the announcement. The stock has lost 16 percent over a one-year period.
Created 07:40:54 am
Morgan Stanley’s Ridham Desai On The Art Of Investing
Updated 07:46:09 am Created 06:57:30 am
Created 06:18:31 am
Earnings This Quarter Unlikely To Be A Washout: Dilip Bhat, Prabhudas Lilladher
Created 06:03:32 am
NTPC To Take Over Chhabra Thermal Power Plant
Shares of State-run NTPC Ltd. gained as much as 3.8 percent to Rs 170.75 after the company signed a non-binding agreement with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and Rajasthan Urja Vikas Nigam Ltd for takeover of Chhabra Thermal Power Plant.
The Memorandum of Understanding (MoU) is to takeover four operational units of 250 MW capacity each and two other under-construction units of 660 MW capacity each at Chhabara Thermal Power Plant.
Updated 05:40:50 am Created 05:25:58 am
BPL Gains On High Volumes
Created 04:59:00 am
Updated 04:55:17 am Created 04:54:15 am
Shoemakers Running High
Shares of shoe makers have gained for a third straight session anticipating sops in the upcoming Union Budget. According to a PTI report, the government is expected to announce an incentive package for labour intensive leather sector in the forthcoming Budget with a view to give a boost to the segment and generate jobs.
Movers And Shakers: Biocon, NTPC, Power Grid Corp And More
Updated 04:31:22 am Created 04:28:47 am
Ahead Of Earnings
Bajaj Corp gained 1 percent; third quarter profit estimated at Rs 58.1 crore Cyient jumped 4.4 percent, the most since October 13; third quarter profit estimated at Rs 97.7 crore Reliance Industrial Infrastructure extends gains for third day, up 0.2 percent ahead of third quarter earnings announcement Tata Consultancy Services: Extended winning streak to day four; stock up 0.2 percent as analysts estimate third quarter profit at Rs 6,500 crore Zee Learn snapped two-day winning streak; down 0.9 percent ahead of third quarter earnings announcement
Created 04:21:30 am
The rupee recovered by 22 paise to 68.10 against the U.S. dollar in early trade today on fresh selling of the American currency by exporters. Besides, the dollar’s weakness against some currencies overseas and early gains in the domestic equity market supported the rupee, dealers said.
Yesterday, the rupee had lost 14 paise to close at 68.32 per dollar in the face of a bullish greenback overseas.
Created 04:17:27 am
Top Gainers And Losers
Updated 04:34:55 am Created 04:00:12 am
Indian shares climbed for a third day with benchmarks extending their two-month high lead as some investors assessed that the impact of the demonetisation may be factored in and take positions ahead of the Union Budget early next month.
The S&P BSE Sensex climbed 0.5 percent to 27,271 while the NSE Nifty advanced 0.5 percent as well to reclaim the 8,400-mark for the first time since November 11. The market breadth was skewed in favour of buyers than the sellers with 900 stocks advancing, 569 declining and 425 remaining unchanged.
However, the gains were capped as stocks of pharmaceutical companies sold off after President-elect Trump said he would force the industry to bid for government business, a position that aligns him with congressional Democrats and against the powerful drug-manufacturing lobby.
A gauge a country’s top 10 pharmaceutical companies slumped as much as 2.2 percent, the most since December 26.
Updated 04:28:47 am Created 03:56:23 am
Stocks To Watch
Updated 04:29:47 am Created 03:45:58 am
Money Market Heads-Ups
Investors on the Wall Street have waited two months since Donald Trump’s victory to get details on the next U.S. president’s fiscal spending plans. Even after his most awaited press conference last evening, they remain clueless on the way forward.
In disappointment, the dollar is sliding providing a lease of life to the Asian currencies and the Korean won is on a roll, rising one percent against the greenback. This gives rupee a reason to cheer and the currency, which fell 0.2 percent to 68.33 a dollar in the last session, is likely to have a good run.
In sovereign bonds, it is the day of data. December CPI inflation is expected to grow at 3.53 percent, its slowest pace in 25 months compared to 3.63 percent in November. The market is likely to trade in a narrow range ahead of the data with yield on the benchmark note likely to stay between 6.36 percent-6.40 percent.
Created 03:44:51 am
Data/Events To Watch
Created 03:43:14 am
Created 03:41:23 am
5 Things To Watch
Updated 03:28:44 am Created 03:23:59 am
The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, gained 0.3 percent to 8,425.
Asian stocks traded mixed this morning, as Japanese equities retreated while yen strengthened after Donald Trump’s first press conference since his election victory gave scant detail on policy.
The decline was led by drugmakers and exporters after Trump attacked the pharmaceutical industry for high drug prices and for manufacturing overseas, saying he will create new procedures for bidding on drugs.
While Trump addressed issues from Russian hacking allegation to drug prices and the fate of his family business, there was a dearth of details on the timing and scope of planned policies from infrastructure spending to trade pacts that will determine the direction for financial markets in 2017.
While Japanese shares slumped, Asia’s regional equity index rose for a fourth day, poised for the highest closing level since October. Oil was little changed following the biggest rally in more than a month.
Gold rose 0.3 percent, a fourth day of gains to trade near the highest level since November.