Friday, 29 December 2017

Equity Benchmarks Started Off The January Series On A Strong Note

Equity benchmarks started off the January series on a strong note as the Nifty reclaimed 10,500 level, backed by positive Asian cues.

The 30-share BSE Sensex was up 94.26 points at 33,942.29 and the 50-share NSE Nifty rose 26.30 points to 10,504.20.

Tata Steel, Vedanta, Bosch, UPL, Eicher Motors, Hero MotoCorp and SBI were early gainers while HDFC Bank, ICICI Bank and Kotak Mahindra Bank were under pressure.

Nifty Midcap was up 0.6 percent. Reliance Communications surged 28 percent on sealing wireless assets deal with Reliance Jio.

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Shares Of Tata Global Beverage Has Touched 52-Week High Of Rs 309

Shares of Tata Global Beverage has touched 52-week high of Rs 309, gaining 1 percent in the early trade on Friday as it has sold stake in its associate company.

The company through a share sale and purchase agreement has divested 31.85 percent stake in the joint venture company Estate Management Services for a consideration of Rs 120 crore.

Consequently, EMSPL has ceased to become an associate of the company effective December 28, 2017.

This is a part of company's overall strategy to focus on branded business in key geographies.

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Thursday, 28 December 2017

Equity Benchmarks Rebounded With Mild Gains Amid Volatility On Thursday


Equity benchmarks rebounded with mild gains amid volatility on Thursday morning, ahead of expiry of December futures and options contracts.

The 30-share BSE Sensex was up 51.96 points at 33,963.77 and the 50-share NSE Nifty gained 21 points at 10,511.80.

Hindalco Industries, Vedanta, Aurobindo Pharma, BPCL, Lupin, HUL, Tata Steel, Coal India and Dr Reddy's Labs were early gainers.

The Nifty Midcap was up 0.24 percent.

Star Cement, Monnet Ispat, Reliance Communications, Kolte-Patil Developers and Hindustan Copper rallied 4-12 percent.

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Indian Rupee Slip To Lowest Level Since Dec 18, Trades At 64.26

After a flat opening the Indian rupee fell to its lowest level since December 18. Currently it is trading at 64.26 per dollar. On Wednesday it has closed at 64.15.

Mohan Shenoi of Kotak Mahindra Bank said, "Currency market activities remain muted during the last week of calendar year. Sharp spike in oil prices has not impacted Asian currencies and rupee so far. Exporter participation seen at higher levels."

We expect the USD-INR pair to trade in a range of 64-64.20 for the day. Government borrowing programme through dated G-sec for last quarter announced additional borrowing of Rs 50,000 crore. The bond market is expected to be bearish on this news and also on account of sharp rise in crude oil prices.

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Wednesday, 27 December 2017

Sensex Opens Above 34,000, Nifty Trades Flat; Reliance Comm Surges 20%

Sun Pharmaceutical Industries said that the US FDA has accepted a new drug application, filed by its wholly owned subsidiary, for OTX-101 (cyclosporine A, ophthalmic solution) 0.09%, a novel nanomicellar formulation of cyclosporine A 0.09% in a clear, preservative-free aqueous solution.

OTX-101 is now under review for approval by the US FDA, marking an important developmental milestone for Sun Pharma’s dry eye candidate, it added. The stock gained 2 percent.

Glenmark Pharmaceuticals Inc., USA has received final approval from the United States Food & Drug Administration for Norethindrone Acetate and Ethinyl Estradiol tablets USP and Ferrous Fumarate tablets, 1 mg/20 mcg, the generic version of Minastrin 1 24 Fe tablets, of Allergan Pharmaceuticals International.

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Equity Benchmarks Started Off Trade On A Flat Note On Wednesday

Equity benchmarks started off trade on a flat note on Wednesday due to lack of global and domestic cues.

The 30-share BSE Sensex was up 34.98 points at 34,045.59 and the 50-share NSE Nifty fell 4.60 points to 10,526.90. About 907 shares advanced against 334 declining shares on the BSE.

Vedanta, GAIL, Yes Bank, Cipla, Dr Reddy's Labs, Tata Steel, Hero Motocorp, UPL and Maruti Suzuki were early gainers.

BPCL, UltraTech Cement, Indiabulls Housing, ICICI Bank, Coal India, IOC and HPCL were under pressure.

Reliance Communications surged 20 percent on mega debt restructuring plan.Sanghi Industries, Prestige Estates, Aban Offshore, Prataap Snacks, ITD Cementation, Glenmark Pharma, Jaiprakash Associates, Jindal Steel and Lanco Infratech rallied 1-8 percent.

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Tuesday, 26 December 2017

The Indian Market Began The Truncated Week On A Positive Note

The Indian market began the truncated week on a positive note, with the Nifty trading above 10,500-mark.

At 09:16 hrs IST, the Sensex is up 60.81 points or 0.18% at 34001.11, while the Nifty is up 7.30 points or 0.07% at 10500.30. The market breadth was positive as 596 shares advanced, against a decline of 163 shares, while 81 shares were unchanged.

TCS, BHEL, Tata Power and GAIL were the top gainers, while Tata Motors DVR, ITC, Infosys and Sun Pharma lost the most.

The Indian rupee opened marginally higher at 64.03 per dollar on Tuesday versus 64.05 on Friday.

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Asian Markets Were Mixed Early In The Tuesday

Asian markets were mixed early in the Tuesday session in what's likely to be light, holiday-week trading.

Japan's benchmark Nikkei 225 index came under slight pressure after closing at a 26-year high in the last session, despite thin holiday trade. The index traded lower by 0.1 percent as most technology and auto names drifted lower. Energy-related companies, however, made gains as oil priced nudged higher.

Most Japanese retailers also edged higher, with shares of department store operator Takashimaya popping 3.93 percent to touch a more than two-year high. Takashimaya on Monday announced a 5.6 percent increase in operating profit for the nine months ending November, Reuters said.

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Thursday, 21 December 2017

The Rupee Wiped Out Early Gains To Trade Flat At 64.11 Against The Dollar

The rupee wiped out early gains to trade flat at 64.11 against the dollar today after the US Congress gave its final seal of approval to a sweeping tax legislation.

Dubbed as the biggest overhaul of the US tax code in 30 years, the Bill slashes taxes for corporates as well as the middle class.

In the opening session, the domestic unit went up 10 paise to 64.01.

Yesterday, it had lost 7 paise at 64.11 against the US currency due to dollar demand from importers.

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Equity Benchmarks Rebounded In Opening On Thursday

Equity benchmarks rebounded in opening on Thursday, with the Nifty reclaiming 10,450 level, backed by select auto, technology, metals and pharma stocks.

The 30-share BSE Sensex was up 64.49 points at 33,841.87 and the 50-share NSE Nifty rose 20 points to 10,464.20. About 984 shares advanced against 265 declining shares on the BSE.

Bharti Airtel, Axis Bank, Wipro, IndusInd Bank, ICICI Bank and Kotak Mahindra Bank were early losers. Hero MotoCorp, GAIL, Hindalco, Eicher Motors, Maruti Suzuki and UPL were early gainers

Mahindra and Mahindra was down 1.4 percent as stock trades ex-bonus today. Nifty Midcap was up 0.5 percent.

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Wednesday, 20 December 2017

HDFC Bank Informed Exchanges That The Board Of Directors Today

HDFC Bank informed exchanges that the board of directors today has approved raising of funds aggregating up to Rs.24,000 crore.

Of which, an amount up to a maximum of Rs 8,500 crore will be through issuance of equity shares of face value of Rs 2 each pursuant to a preferential issue to promoter Housing Development Finance Corporation, the bank said.

The balance will be raised through issuance of equity shares / convertible securities / depository receipts pursuant to a qualified institutions placement / American Depository Receipts / Global Depository Receipts, it added.

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Equity Benchmarks Started Off Trade At Record Highs On Wednesday

Equity benchmarks started off trade at record highs on Wednesday, but immediately slipped into red to trade volatile.

The 30-share BSE Sensex was down 18.70 points at 33,818.04 and the 50-share NSE Nifty fell 12.40 points to 10,450.80.

About 785 shares advanced against 445 declining shares on the BSE.

Tata Steel, UltraTech Cement, Dr Reddy's Labs, SBI, L&T, HUL and Power Grid were early losers while ONGC, Coal India, Maruti Suzuki, GAIL, M&M and Hero MotoCorp were gainers.

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Tuesday, 19 December 2017

Dr Reddy’s Laboratories Gained 1 Percent In The Early Trade

Shares of Dr Reddy’s Laboratories gained 1 percent in the early trade on the back of settlement with the US government.

The US subsidiary of Dr Reddy’s Laboratories has reached a settlement with the US government involving packaging of five blister-packed prescription products.

The company and US Department of Justice agreed to the settlement of the action without any adjudication of any issue of fact or law.

The said case is six years old and in order to avoid any unnecessary costs and the distractions of prolonged litigation, the company has chosen to settle the matter for USD 5 million.

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Equity Benchmarks Extended Previous Day's Rally On Tuesday

Equity benchmarks extended previous day's rally on Tuesday opening, with the Sensex rising more than 100 points, following positive global cues.

The 30-share BSE Sensex was up 112.49 points at 33,714.17 and the 50-share NSE Nifty rose 35.90 points to 10,424.70. About 786 shares advanced against 221 declining shares on the BSE.

Eicher Motors, UPL, Aurobindo Pharma, Vedanta, Tata Motors, Tata Steel, SBI and Yes Bank were early gainers while Bharti Airtel, HDFC, TCS, Wipro and Infosys were losers.

M&M, PI Industries and Titan Company hit fresh record highs.

The Nifty Midcap index gained 0.6 percent and Nifty Bank was up 0.4 percent.

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Monday, 18 December 2017

Equity Benchmarks Closed Higher After The Vote Counts Indicated The BJP

Equity benchmarks closed higher after the vote counts indicated the BJP is set to win Gujarat and Himachal Pradesh, but some gains erased in late trade on profit booking.

The 30-share BSE Sensex was up 138.71 points at 33,601.68 and the 50-share NSE Nifty gained 55.50 points at 10,388.80.

About 1,477 shares advanced against 1,190 declining shares on the BSE.

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Friday, 15 December 2017

Equity Benchmarks Opened Sharply Higher On Last Day Of The Week Friday

Equity benchmarks opened sharply higher on last day of the week Friday after the exit poll results indicated that the BJP is likely to be winner in Gujarat and Himachal Pradesh assembly elections.

The 30-sahre BSE Sensex was up 286.89 points at 33,533.59 and the 50-share NSE Nifty gained 91.40 points at 10,343.50. About 981 shares advanced against 185 declining shares on the BSE.

Adani Ports, Vedanta, Tata Steel and Bajaj Auto were early gainers while Kotak Mahindra Bank and Infosys were flat. Nifty Midcap as well as Nifty Bank indices gained 1 percent each.

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Asian Shares Edge Up, On Track For Weekly Gain

Asian shares edged higher on Friday, on track for weekly gains, though sentiment was kept in check by Wall Street's weakness on concerns about the progress of U.S. tax reform.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.04 percent in early trade, poised to gain 1.2 percent for the week.

But Japan's Nikkei stock index slipped 0.8 percent, down 1.3 percent for the week, feeling the pinch of a stronger yen even amid fresh signs the economy is gathering momentum.

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Thursday, 14 December 2017

Tata Steel Said Its Board Will Meet Next Week To Consider Raising

Tata Steel said its board will meet next week to consider raising of funds by issuing securities.

A meeting of the company's board will be held on December 18-19 to consider a proposal to raise funds by issue shares or securities, Tata Steel said in a regulatory filing.

The board will consider raising of funds via qualified institutions placement, rights issue, preferential issue or through any other permissible mode, it added.

"The proposal for the issue will be considered by the board on December 19," it said.

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Equity Benchmarks Rebounded With Mild Gains In Opening On Thursday

Equity benchmarks rebounded with mild gains in opening on Thursday after Federal Reserve expectedly hiked interest rate by 25 bps. Investors remained cautious ahead of exit polls after the second phase of Gujarat elections today.

The 30-share BSE Sensex was up 46.73 points at 33,099.77 and the 50-share NSE Nifty rose 18 points to 10,211.

Vedanta, ONGC, GAIL, HPCL, Tech Mahindra, Dr Reddy's Labs, Aurobindo Pharma, Infosys, Hero MotoCorp and Ambuja Cements were early gainers while TCS, IndusInd Bank and Maruti Suzuki were losers.

The Nifty Midcap index was up 0.5 percent as about five shares advanced for every share falling on the NSE.

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Wednesday, 13 December 2017

Benchmark Indices Began The Day On A Lower Note, With The Sensex Falling

Benchmark indices began the day on a lower note, with the Sensex falling nearly 100 points in the first minutes of trade before cutting those losses, while the Nifty was down by almost quarter of a percent.

At 09:17 hrs IST, the Sensex was down 91.65 points at 33136.34, while the Nifty fell 23.00 points or 0.22% at 10217.20. The market breadth was narrow as 409 shares advanced against a decline of 305 shares, while 43 shares were unchanged.

Dr Reddy’s Labs continued its uptrend from Tuesday, along with Bharti Airtel, which gained 1 percent. Both were top gainers on Sensex and Nifty, while ITC, SBI, Power Grid and Vedanta were the top losers.

Midcaps were trading weak, but fell lesser as compared to benchmarks, while Nifty PSU Bank index was down around half a percent.

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Bharti Airtel Shares Gain 2% On 20% Stake Sale In DTH Arm To Warburg Pincus

Bharti Airtel shares gained nearly 2 percent in morning Wednesday after the company decided to sell 20 percent stake in its DTH arm to US private equity firm

"an affiliate of Warburg Pincus, a global private equity firm, will acquire up to a 20 percent equity stake in Bharti Telemedia, the direct-to-home subsidiary of Airtel, for approximately USD 350 million," the country's largest telecom operator said in its filing on Tuesday.

Under the deal, Bharti Airtel will sell 15 percent stake in Bharti Telemedia and the remaining 5 percent will be sold by another Bharti entity, it added.

Macquarie said given Airtel's superior ARPUs and margins, the deal is valued at just 2 percent premium at EV/FY17 EBITDA. Valuations reflect Airtel's strong recent performance, it added.

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Tuesday, 12 December 2017

Asian Shares Were Trying To String Together A Fourth Session Of Gains On Tuesday

Asian shares were trying to string together a fourth session of gains on Tuesday as optimism about global growth looked set to outlast an almost certain hike in US borrowing costs this week.

The latest upbeat news came from China where banks doled out a surprisingly generous dose of credit in November, which could bode well for a pick up in retail sales and industrial output due later in the week.

US stocks closed higher on Monday as investors prepared for an expected Federal Reserve rate hike later in the week, while stocks rose around the world on continued solid global economic growth indicators.The Dow Jones Industrial Average and the S&P 500 opened flat after news of an explosion in New York's busy Port Authority commuter hub which New York Mayor Bill de Blasio described as an "attempted terrorist attack."


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Indian Rupee Opens Lower At 64.41 Per Dollar

The Indian rupee opened lower by 5 paise at 64.41 per dollar on Tuesday versus previous close 64.36.

Bhaskar Panda of HDFC Bank said, "The focus is now on FOMC decision on upcoming interest rate hike in US. However, USD-INR has got wing from the probable outcome on elections."

"Given this background, expect USD-INR to trade within a range of 64.30-64.50 for today."

"In India, the 10-year benchmark yield has been slowly moving up. All eyes are on next inflation numbers. Expect the 10-year yield to remain elevated and move towards 7.25 percent gradually," he added.

Dollar steadied against a basket of major currencies as the Federal Reserve is expected to hike rates on Wednesday, though concerns about tepid inflation weighing slightly on the greenback.

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Monday, 11 December 2017

Equity Benchmarks Extended Previous Day's Rally On Monday

Equity benchmarks extended previous day's rally on Monday morning as all sectoral indices traded in green. Positive global cues after strong US jobs report also supported the market.

The 30-share BSE Sensex was up 141.65 points at 33,391.95 and the 50-share NSE Nifty rose 43 points to 10,308.70.

About five shares advanced for every share falling on the BSE.

SBI, Axis Bank, UltraTech Cement, Bharti Airtel, Maruti Suzuki, HDFC and Eicher Motors were early gainers while Infosys and HUL were losers.

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IL&FS Engineering Locked At 5% Upper Circuit On Rs 216 Crore Order From GAIL

Shares of IL&FS Engineering and Construction has locked at 5 percent upper circuit on Monday as it has received order for pipeline laying works from GAIL.

There were pending buy orders of 25,154 shares, with no sellers available.

The company has received Fax of Acceptance from Gas Authority of India for 157.8 km long 30' diameter pipeline laying works for Dobhi-Durgapur-Haldia Pipeline Section along with 13.28 km long 12' diameter spurline under Jagdishpur Haldia/Bokaro-Dhamra Natural Gas pipeline project in Jharkhand/West Bengal states, as per company release.

The total value of the contract is Rs 215.79 crore (excluding GST) and is to be mechanically completed in 15 months from date of FOA and additional 2 month for pre-commissioning and commissioning.

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Friday, 8 December 2017

Jet Airways Shares Fall 5% After Sharp Dip In September Quarter Profit

Jet Airways share price declined as much as 4.55 percent on Friday after the private carrier reported a 91 percent fall in its standalone net profit year-on-year.

The company has recorded profit of Rs 49.63 crore for the quarter ended September 2017, which was sharply lower compared with Rs 549.02 crore reported year-ago.

The sharp decline in other income caused lower profitability.

The Naresh Goyal-owned private carrier said revenue from operations for the quarter stood at Rs 5,626.61 crore, higher by 3.2 percent over Rs 5,453.21 crore in corresponding period.

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HDFC Bank Was In Focus On Friday After Credit Suisse Raised

HDFC Bank was in focus on Friday after Credit Suisse raised the target price to Rs 2,075 from Rs 1,955. This implies an upside of 6 percent.

The global research firm expects the bank to undertake its next capital raise in FY19 and highlighted how the stock has historically performed well around capital raise.

Further, it said that the bank has CET1 at 12.2 percent, similar to the levels seen in FY15.

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Thursday, 7 December 2017

Equity Benchmarks Bounced Back In Opening, Backed By Short Covering

Equity benchmarks bounced back in opening, backed by short covering in beaten down stocks like banks, auto and metals stocks. The Sensex had fell more than 200 points in previous session.

The 30-share BSE Sensex was up 87.41 points at 32,684.59 and the 50-sahre NSE Nifty gained 28.40 points at 10,072.50.

JSW Steel, Tata Steel, SAIL, Aurobindo Pharma, GAIL, HPCL, Tech Mahindra, Eicher Motors, Bharti Airtel and Reliance Industries were early gainers while Bharti Infratel, Power Grid and UltraTech Cement were under pressure.

Nifty Midcap was up 0.35 percent and Nifty Bank gained 0.2 percent.

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RBI Produces A No-Action Policy To End 2017, But What Does 2018 Hold

The Reserve Bank’s and the Monetary Policy Committee’s decision to do nothing at all to interest rates was widely anticipated and needs no defence. The second quarter GDP growth at 6.3 percent was higher than the first quarter’s growth of 5.7 percent.

consumer inflation at 3.58 percent in November was the highest in five months and is all set to rise beyond 4 percent this month and to 4.7 percent by March.

For an MPC targeting a 4 percent inflation on a sustained basis, a pause on rate cuts was a logical decision. Any clarity on the government’s borrowing programme for this year or the next will emerge only by the next policy. In that sense this policy was more of the holding-fort kind.

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Wednesday, 6 December 2017

Nifty Extends Losses, Sensex Falls Over 100 Pts As Asia Slips Further

Global research firm Nomura has maintained its buy call on Axis Bank, but cut its target price to 620 from Rs 640.

The reduction in target price implies a downside of around 3 percent.

The firm believes PPOP/asset is readjusting downwards to a new normal, the brokerage believes.

It expects normalised RoEs of 15-15.5 percent for the bank.

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Equity Benchmarks Extended Losses In Late Morning Deals

Equity benchmarks extended losses in late morning deals, tracking further weakness in Asian stocks. Investors also maintained caution ahead of RBI's rate decision and its commentary in afternoon.

The 30-share BSE Sensex was down 158.72 points at 32,643.72 and the 50-share NSE Nifty declined 59.80 points to 10,058.50.

Asia markets declined across the board, following overnight losses on Wall Street. Japan's Nikkei 225 Average, China's Shanghai Composite, Hong Kong's Hang Seng and South Korea's Kospi were down 1-2 percent.

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Tuesday, 5 December 2017

The Rupee Strengthened By 12 Paise To 64.25 Against The Dollar

The rupee strengthened by 12 paise to 64.25 against the dollar at the interbank forex market today on increased selling of the American currency by banks and exporters.

The dollar losing sheen against some other currencies overseas also supported the local unit, traders said.

Yesterday, the rupee had rebounded by 9 paise to end at 64.37 against the US dollar in a highly volatile trade on fresh selling of the greenback and also emboldened by encouraging Q2 GDP numbers and monthly manufacturing data.

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Equity Benchmarks Opened Mildly Lower On Tuesday

Equity benchmarks opened mildly lower on Tuesday following tepid Asian cues. Investors remained cautious ahead of mid-term review of foreign trade policy due later today and RBI policy tomorrow.

The 30-share BSE Sensex was down 68.74 points at 32,800.98 and the 50-share NSE Nifty declined 19.30 points to 10,108.50.

Wipro, NTPC, IOC, Tech Mahindra, Power Grid, ONGC, L&T and HDFC Bank were early losers while Bosch, Bharti Airtel, HPCL, BPCL, Kotak Mahindra Bank, Tata Motors, M&M and Maruti Suzuki were gainers.

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Monday, 4 December 2017

Infosys Rallies As Board Appoints New CEO & MD Salil Parekh; Could Rally Up To 15% In 1 Year

Shares of Infosys rose as much as 2.9 percent in morning trade on Monday after the Board appointed Salil Parekh as its new Chief Executive Officer and Managing Director of the company effective January 2, 2018, over the weekend.

The stock, which has given a flat return in the calendar year 2017, could well scale Rs 1,100 levels in the next 12 months, experts suggest. Most analysts remain fairly optimistic about the appointment of Parekh, who is no stranger to the IT industry. The appointment of the new CEO at Infosys will remove the uncertainty and put the stock back on investors’ radar.

The former Capgemini executive was in the race for the top job at Infosys last time as well, when the Indian IT major decided in favour of Vishal Sikka.

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Shares Of JSW Energy Rose 2.2 Percent Intraday Monday As It Has Secured

Shares of JSW Energy rose 2.2 percent intraday Monday as it has secured PPAs aggregating to 208 MW.

This PPA consists 176MW PPA with Haryana Power Purchase Centre to be supplied from the Karcham Wangtoo Hydro Electric Project of Himachal Baspa Power Company, a 100 percent subsidiary of the company.

And 32MW under group captive scheme to be supplied from the Ratnagiri plant of the company.

With this, the long term PPA proportion of the company on a consolidated basis has increased from 64.6 percent at end of Q2FY18 to 69.3 percent currently.


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Friday, 1 December 2017

The Sensex Was Up 75.58 Points At 33224.93, While The Nifty Was Up 23.30 Points

The market continued to trade steady, with the Nifty hovering around 10,250-mark.

The Sensex was up 75.58 points at 33224.93, while the Nifty was up 23.30 points at 10249.80.The market breadth was positive as 1551 shares advanced against a decline of 467 shares, while 86 shares were unchanged.

Tata Motors, Tata Motors DVR, and Bosch gained the most on both indices, while Bharti Airtel, Coal India, and Hindalco lost the most.

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Equity Benchmarks Rebounded In Opening On Friday After Second Quarter GDP Data

Equity benchmarks rebounded in opening on Friday after second quarter GDP data, with the Sensex rising more than 100 points. The buying was seen in most beaten down stocks. In previous session, the Sensex had fallen 453 points.

The 30-share BSE Sensex was up 115.44 points at 33,264.79 and the 50-share NSE Nifty rose 38.40 points to 10,264.90. About five shares advanced for every share falling on the BSE.

The Indian economy grew 6.3 percent in July-September quarter, recovering from a three-year low growth slump of 5.7 percent in April-June, as companies scaled up production and restocked supplies after Goods & Services Tax kicked in from July 1.

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