Growth story: Leader in consumer lending space, this NBFC rose 60% in 1 year
Anand Rathi initiates coverage on the stock with a buy rating and a 12-month target price of Rs 3,370 which translates into an upside of another 20 percent from Thursday’s closing of Rs 2808.
Mar 15, 12:18 PM (IST)
Ujjivan Financial, Coal India slip: Shares of Ujjivan Financial Services and Coal India fell 1.2 percent after announcement of interim dividend.
Mar 15, 12:07 PM (IST)
Buzzing: Share price of CMI rose 9 percent after company received vendor approval from prestigious companies.
Mar 15, 11:45 AM (IST)
Mar 15, 11:18 AM (IST)
Buzzing: Shares of Tech Mahindra gained 1.4 percent after company approved to acquire 100 percent stake in Japanese company.
The investment committee of the board of directors of the company has approved the proposal to acquire 100% shareholding in K-Vision Co through its wholly owned subsidiary i.e. Mahindra Engineering Services (Europe).
Mar 15, 10:55 AM (IST)
RIL gains as Brookfield announces acquisition of group’s East West Pipeline
Reliance Industries shares gained nearly a percent on Friday morning. The surge was on the back of the announcement that Brookfield will buy the group’s loss-making East West Pipeline (EWPL) for Rs 13,000 crore.
Mar 15, 10:42 AM (IST)
A2Z Infra Engineering said as per books and accounts, outstanding of Edelweiss as on March 2018 was Rs 177.69 crore (including interest) and the same is settled for a total settlement consideration of Rs 41 crore.
The company had availed financial assistance as term loan from ICICI Bank and ICICI Bank has assigned all the rights, title and interests in the financial assistance granted by it to the company, in favour of Edelweiss Asset Reconstruction Company Limited (the ‘Lender’), acting in its capacity as trustee of EARC Trust SC 217 vide Assignment Agreement executed in favour of EARC on June 29, 2016.
Mar 15, 10:32 AM (IST)
Bank Nifty hits life high, jumps 10% in March
Banking and financials services have been a key driver of the current rally, which lifted benchmark indices Sensex and Nifty to fresh six-month high. Key reasons behind this spike are hope of stable government at Centre and consistent FII inflow.
Bank Nifty rallied 10 percent in March against more than 5 percent gains in Nifty50.
Index constituents Punjab National Bank, Bank Of Baroda, IndusInd Bank, IDFC First Bank, ICICI Bank, RBL Bank and SBI rallied 10-20 percent during current month. Kotak Mahindra Bank, Federal Bank, HDFC Bank, Yes Bank and Axis Bank gained 5-9 percent.
Mar 15, 10:13 AM (IST)
Experts suggest Bull run in market will continue; Sensex could touch 50,000 in next decade
We believe that the probability of the Sensex peaking at 50,000 or more in the current bull market is high, says Vivek Ranjan Misra, Head of Fundamental Research at Karvy Stock Broking.
Mar 15, 10:05 AM (IST)
Inderjeet Bhatia of Macquarie told CNBC-TV18, “Market is starting to price in continuity in government post elections in May 2019, and hence a strong comeback in foreign flows. Growth should pick up in FY20 as liquidity conditions ease.”
“Upgrade private banks and energy to positive outlook and downgrade IT and metals to neutral. Top large cap picks include IndusInd Bank, Yes Bank, ITC, ONGC, L&T. Midcap picks include Phoenix Mills, Minda Ind, Apollo Hospitals, Crompton Consumer, NCC, ACC, Ujjivan, Berger Paints and Jubilant Foodworks, he added.
Mar 15, 09:49 AM (IST)
Image source: Bloomberg
Mar 15, 09:33 AM (IST)
Buzzing: Shares of Glenmark Pharma rose nearly 2 percent after it recieved final approval from USFDA for Clindamycin and Benzoyl Peroxide Gel.
According to company release on BSE, Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Clindamycin and Benzoyl Peroxide Gel, 1%|5%, a generic version of BenzaClin Gel, 1%|5%, of Valeant Bermuda.
Mar 15, 09:20 AM (IST)
Market Opens: It is a strong start for the Indian indices on the last day of the week with Nifty around 11,400 level.
The Sensex is up 165.79 points at 37920.68, while Nifty is up 51.10 points at 11394.40. About 528 shares have advanced, 171 shares declined, and 33 shares are unchanged.
Tech Mahindra, Indiabulls Housing, Gail, Eicher Motors, Dr Reddy’s Lab, Kotak Mahindra, JSW Steel are the gainers on the indices, while losers led by Coal India, Bajaj Auro and UltraTEch Cement.
Among the sectors, auto, IT, energy, bank, infra and pharma indices are witnessing buying, while FMCG and metal stocks are under pressure.
Mar 15, 09:10 AM (IST)
Mar 15, 09:06 AM (IST)
Rupee Opens: The Indian rupee opened flat at 69.33 per dollar on Friday versus 69.35 yesterday.
Mar 15, 09:04 AM (IST)
Market at pre-open: Benchmark indices are flat with positive bias in the pre-opening trade.
The Sensex is up 136.69 points at 37891.58, while Nifty is up 35.90 points at 11379.20.
Jubilant Foodworks, Jet Airways and Reliance Industries are trading marginally higher in the pre-opening session.
Mar 15, 08:54 AM (IST)
Market Headstart: Nifty50 likely to open flat; 3 stocks which could give 5-9% return
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 19 points or 0.17 percent. Nifty futures were trading around 10,366-level on the Singaporean Exchange.
Mar 15, 08:51 AM (IST)
Crude Update: Oil prices were steady on Friday, supported as production cuts led by OPEC and US sanctions against Venezuela and Iran likely created a slight deficit in global supply in the first quarter of 2019.
Mar 15, 08:44 AM (IST)
Stocks in the news: Infosys, Chalet Hotels, Jubilant Foodworks, Strides Pharma, CMI, Tide Water
GTPL Hathway | Jubilant Foodworks | Strides Pharma Science | CMI | Tide Water Oil (India) and IDBI Bank are stocks which are in the news today.
Mar 15, 08:36 AM (IST)
Wall Street ends flat: The S&P 500 slipped on Thursday, snapping a three-day streak of gains, as uncertainty over when a trade deal between the United States and China would be reached left investors on edge
Mar 15, 08:28 AM (IST)
Bank of Japan keeps deposit rate at -0.1 percent and 10-year yield target around 0 percent
Mar 15, 08:19 AM (IST)
What changed for the market while you were sleeping? 10 things to know
The BSE Sensex was up 2.72 points to close at 37,754.89 while the Nifty50 rose 1.60 points to 11,343.30 and formed bearish candle on the daily charts as closing price is higher than opening.
Mar 15, 08:03 AM (IST)
SGX Nifty: Trends on SGX Nifty indicate a flat opening for the broader indices in India, a fall of 2 points or 0.02 percent. Nifty futures were trading around 11,383-level on the Singaporean Exchange.
Mar 15, 07:56 AM (IST)
Mar 15, 07:47 AM (IST)
Asian markets trade higher: Asian stocks made modest gains on Friday, tracking improved global sentiment after UK lawmakers voted to delay Brexit and as a weaker yen supported Japanese shares, but a fresh flare up in U.S.-China trade concerns is expected to cap gains.
Mar 15, 07:34 AM (IST)
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