Closing bell: Banks, auto help Nifty hold 11,000 amid volatility; mid-smallcaps gain too

Technical View: Nifty forms hammer candle on weekly scale, consolidation likely with support at 10,900

Mazhar Mohammad said as long as the index sustains above the said low a breakout above the 28-day old descending channel can be expected which is in progress from July highs of 11,981 levels.... Read More

Ujjivan Small Finance Bank is planning to consider an initial public offering to raise Rs 1,200 crore from capital market.

"Ujjivan Small Finance Bank is proposing to undertake an initial public offering of equity shares of face value of Rs 10 each, comprising a fresh issue of equity shares by bank aggregating up to around Rs 1,200 crore," Ujjivan Financial Services said in its BSE filing on August 16.

The price band for public issue may be determined by bank in consultation with the book running lead managers to the issue, it added.

Technical View: Nifty forms hammer candle on weekly scale, consolidation likely with support at 10,900

Mazhar Mohammad said as long as the index sustains above the said low a breakout above the 28-day old descending channel can be expected which is in progress from July highs of 11,981 levels.... Read More

An evening walk down D-St: Sensex, Nifty end marginally higher; Yes Bank jumps 4%

Indian benchmark indices Sensex and Nifty ended marginally higher on August 16 as intraday gains registered by ITC, Axis Bank and Maruti Suzuki were largely offset by losses in Tata Consultancy Services, Reliance Industries and HDFC shares.... Read More

After a volatile session index closed a day at 11,048 with mild gains of 18 points and on weekly basis index closed with loss of 0.56 percent forming a hammer candle pattern on weekly chart which is bullish reversal candle by nature.

"Now index has immediate support near 10,920-10,850 zone and resistance is coming near 11,100-11,150 zone, if index managed to sustain above 11,150 then we may see good move towards 11,350 zone,"RohitSingre, Senior Technical Analyst,LKPSecurities said.

Fund managers bet over Rs 8.5K crore on these 6 stocks in July; do you own any?

The market was under pressure in July, due to renewed worries over the US-China trade war, concerns over economic slowdown and the income-tax surcharge on foreign portfolio investors.... Read More

"Prospects of the government considering steps to revive the economy with stimulus measures and recovery in crude prices due to easing recession helped the market. Until prompt & effective actions are announced by the government, market will react to upcoming economic data which is weak,"VinodNair, Head of Research,GeojitFinancial Services told Moneycontrol.

Lupin receivedapproval from USFDA for Hydrocortisone Valeratecream.

Fitch Ratings said it has revised the outlook on Reliance Industries's (RIL) long-term local-currency Issuer Default Rating (IDR) to positive from stable and has affirmed the rating at 'BBB'.

At the same time, it has affirmed the long-term foreign-currency IDR at 'BBB-' with a stable outlook, as RIL's foreign-currency IDR is capped by India's (BBB-/Stable) country ceiling of 'BBB-', the agency added.

Fitch said the outlook on the local-currency IDR was revised to positive due to the potential for RIL to further deleverage.

The rating agency revised after Reliance's announcement that it would eliminate its net debt by the financial year ending March 2021 (FY21) and that it plans to sell a 20 percent stake in its oil-to-chemical division to Saudi Arabian Oil Company (Saudi Aramco).

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

GoAir IPO in sight? Why Indian aviation's tortoise has decided to run

It has been a busy few weeks at GoAir. "Unusual," is how one industry observer puts it. In mid-July, the airline owned by the Wadia family announced a brand new senior leadership.... Read More

"We are positive on Ashoka Buildcon's long term prospects given its strong track record, comfortable orderbookposition, financial closure for all HAM projects & huge opportunities ahead. ABL has started execution on three of the HAM projects as it received appointed date for these projects. Appointed Datedfor two more HAM projects is expected in the next two to three months, which should further lead to ramp up in execution," ICICI Direct said.

Hence, the brokerageexpectsEPC revenues to grow robustly at 14.2 percent CAGR to Rs4,980.8 crore. "We continue to maintain buyrecommendation on the stock with an SoTP-based target price of Rs 150 per share," it said.

Canara Bank, Punjab National Bank, Bank of India, Union Bank, Bank of Baroda and Oriental Bank of Commerce gained 1-4 percent.