BUSINESS
RITES stock debuts with premium of 2.7% at Rs 190 on BSE
The stock price rallied 2.7 percent compared to issue price which fixed at Rs 185 per share.
BUSINESS
Thermax jumps over 4% on order win worth Rs 340 crore
The scope of work includes design, engineering, procurement, manufacturing, supply, installation and commissioning.
BUSINESS
Natco Pharma stock rises 3% post launch of anti-HCV drug in India
Natco has launched Hepcinat Plus at an MRP of Rs 17,500 for a bottle of 28 tablets.
BUSINESS
Tata Steel rises 3% on JV agreement with German company; CLSA maintains buy
JV company will be positioned as a leading pan European high quality flat steel producer with a strong focus on performance, quality and technology leadership to support customers’ sustainability ambitions.
BUSINESS
IDBI Bank soars 6% after insurance regulator approves LIC 51% stake buy
Sources told Moneycontrol this is a special case dispensation that has been given to LIC and the 15 percent equity investment cap still remains. According to the regulator's norms on investment, insurance companies cannot hold more than 15 percent stake in any company.
BUSINESS
Prakash Industries up 3% post stage-I approval for Sirkaguttu Iron Ore Mine
With this captive sourcing of Iron Ore, the company's dependence on open market sources will reduce substantially.
BUSINESS
Maruti Suzuki rises over 1% after it reports 36% jump in June total sales
The company reported a 36.3 percent increase in total sales at 1,44,981 units in June as against 1,06,394 units in the year-ago month.
CRICKET
Rahul Dravid, Ricky Ponting and Claire Taylor inducted into ICC Hall of Fame
Dravid became the fifth Indian to be inducted into the Hall of Fame after former skippers Anil Kumble, Bishan Singh Bedi, Kapil Dev and Sunil Gavaskar.
BUSINESS
Bajaj Auto stock gains nearly 3% post strong June sales data
Bajaj Auto total sales grew by 65 percent over 2.45 lakh units sold in same month last year.
BUSINESS
Tata Motors gains 3% post robust June sales number
On the export side (CV & PV) the company’s sales increased by 50 percent at 5,246 units from 3,504 units last year.
BUSINESS
Bajaj Auto June sales up 65% at 4.04 lakh units, reports highest-ever 3-wheeler sales
Bajaj Auto reported highest-ever 3-wheeler sales that increased sharply by 66 percent to 66,677 units YoY in June 2018.
BUSINESS
Buy Century Plyboards, target Rs 305: Shailendra Kumar
Post strict implementation of E-way bill gives confidence that Century Plyboard would deliver on its promise of 25 percent revenue growth in FY19. Target of Rs 305 implies 2.5 EV/Sales on FY20, says Shailendra Kumar of Narnolia Financial Advisors.
BUSINESS
Buy Trent, target Rs 355: Shailendra Kumar
Trent's strong balance sheet, strong business positioning and stores expansion plan make it attractive for long term investment. Target of Rs 355 implies 4x EV/Sales on FY20, says Shailendra Kumar of Narnolia Financial Advisors.
BUSINESS
Summer break over, Numetal and ArcelorMittal back at courts over Essar Steel
The National Company Law Appellate Tribunal had on May 22 put the resolution process on hold.
BUSINESS
Deploy a low-risk bear put spread for the next few trading sessions
Bear put spread is a bearish strategy that is executed by buying a put and selling a lower strike put to fund it, says Shubham Agrawal of Quantsapp Private Limited.
BUSINESS
Buy Quess Corp, target Rs 1350: Shailendra Kumar
Operating cashflow to EBITDA is set to increase going forward. Our DCF based near term target is Rs 1,350, says Shailendra Kumar of Narnolia Financial Advisors.
BUSINESS
Buy Wipro, target Rs 287: Shabbir Kayyumi
Some strong pullback rally is expected from the current level. We have a buy on the stock with target of RS 287 per share, says Shabbir Kayyumi of Narnolia Financial Advisors.
BUSINESS
Buy Larsen & Toubro, target Rs 1400: Shabbir Kayyumi
The ADX line is tilting downward from 40 levels. A positive divergence also formed on stochastic. All these technical parameters are suggesting some fresh up move from the current level, says Shabbir Kayyumi of Narnolia Financial Advisors.
BUSINESS
Buy Axis Bank, target Rs 570: Shabbir Kayyumi
Price can be expected to head higher in the days ahead, potentially towards Rs 550 and Rs 570 marks. View will invalidated if it will get close below Rs 480 mark, says Shabbir Kayyumi of Narnolia Financial Advisors.
BUSINESS
Closing Bell: Global weakness drags Sensex 159 pts, Nifty below 10,700; Infosys, Titan up 2%
All sectoral indices traded in the red except IT. Metals lost shine.
BUSINESS
Indian rupee opens flat at 68.48 per dollar
USDINR pair is expected to quote in the range of 68.40 and 68.85, says Motilal Oswal.
BUSINESS
Top buy & sell ideas by Ashwani Gujral, Mitessh Thakkar, Sudarshan Sukhani for short term
Ashwani Gujral of ashwanigujral.com recommends buying Cipla with a stop loss of Rs 610, target of Rs 650, Bata India with a stop loss of Rs 854, target of Rs 870 and Jubilant Foodworks with a stop loss of Rs 1370, target of Rs 1420.
BUSINESS
Buy Jindal Steel & Power, target Rs 250: Shabbir Kayyumi
Price can be expected to head higher in the days ahead, potentially towards Rs 235 and Rs 250 marks. View will invalidated if it closes below Rs 205 mark, says Shabbir Kayyumi of Narnolia Financial Advisors.
BUSINESS
Markets@Moneycontrol: Nifty likely to open flat; 3 stocks which could give up to 10% return
Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 0.5 points or 0.02 percent.
