Thursday, 31 May 2018

Benchmark Indices Started Off The Expiry Day On A Strong Note

Benchmark indices started off the expiry day on a strong note, tracking positive trend in global peers on easing of Italy political concerns.

The 30-share BSE Sensex rallied 141.30 points to 35047.41 and the 50-share NSE Nifty gained 42 points at 10,656.40.

Jubilant Foodworks, Punj Lloyd, Apollo Hospitals, Deepak Fertilisers, Satin Creditcare, KNR Construction, Sadbhav Engineering and Saksoft surged up to 15 percent.

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Wall Street Rebounds As Italy Worries Ease; Energy Shares Soar

US stocks ended higher on Wednesday, and the S&P 500 and Dow registered their biggest daily percentage gains since May 4, on signs of easing political turmoil in Italy and as a surge in oil prices boosted energy stocks.

The S&P 500's gains erased the losses of Tuesday, when the index posted its first 1 percent drop in May. Fears about instability in Italy and the possibility of the country's exit from the euro sent investors piling into safety assets on Tuesday.

The US Treasury market, on a total return basis, on Tuesday had its best day since at least July 2011, according to the Bloomberg Barclay's Treasury Aggregate Index.

Stocks reversed Tuesday's slide as Italy's 5-Star Movement made a renewed attempt to form a coalition government and called for eurosceptic Paolo Savona to withdraw his candidacy as economy minister.

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Wednesday, 30 May 2018

Mahindra And Mahindra Share Price Rallied 2.5 Percent After Credit Suisse Has Maintained

Mahindra and Mahindra share price rallied 2.5 percent after Credit Suisse has maintained Outperform rating on the stock with increased target price at Rs 1,030 following better-than-expected earnings for March quarter.

Auto profitability continued to improve in Q4, and 15 percent beat on EBITDA was helped by operating leverage, product-mix & cost-control, it said.

The research house further said tractor outlook is promising, given positive factors like monsoons, government spend on infra/rural & financial availability.

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Benchmark Indices Extended Yesterday's Losses On Wednesday

Benchmark indices extended yesterday's losses on Wednesday, tracking weakness in global stocks on political turmoil in Italy.

The 30-share BSE Sensex dropped 151.57 points to 34,797.67 and the 50-share NSE Nifty slid 63.30 points to 10,570.

Vedanta, Tata Motors, SBI, ICICI Bank, Bharti Airtel, Axis Bank and Grasim Industries fell up to 2.5 percent. M&M, BPCL and Infosys are gainers in opening.

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Tuesday, 29 May 2018

Benchmark Indices Opened Mildly Lower On Tuesday Morning

Benchmark indices opened mildly lower on Tuesday morning due to profit booking after three-day run up.

The 30-share BSE Sensex fell 56.44 points to 35,109.04 and the 50-share NSE Nifty declined 21.90 points to 10,666.80.

L&T, Tech Mahindra, TCS, Infosys, HCL Technologies, M&M, Bajaj Finance and Coal India are gainers.

Bank of India and Aurobindo Pharma plunged 5 percent each.

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The Rupee Weakened Further To Trade 31 Paise Lower At 67.74 Against The Greenback

The rupee weakened further to trade 31 paise lower at 67.74 against the greenback in late morning deals following sustained bouts of month-end dollar demand from importers and banks.

The domestic unit resumed lower at 67.62 as against yesterday's closing level of 67.43 per dollar at the inter-bank foreign exchange here.

It slid further to 67.75 before quoting at 67.74 at 1030 hrs, hovering between 67.50 and 67.75 during morning deals.

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Monday, 28 May 2018

Benchmark Indices Started Off Trade On A Positive Note On Monday

Benchmark indices started off trade on a positive note on Monday, following sharp correction in oil prices and recovery in rupee.

The 30-share BSE Sensex gained 107.70 points at 35,032.57 and the 50-share NSE Nifty rose 44.50 points to 10,649.70.

Bank of Baroda, IOC, HPCL, BPCL and Sun Pharma jumped up to 7 percent while Tech Mahindra and Vedanta are under pressure.

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The Indian Rupee Traded 27 Paise Higher At 67.49 Against The US Dollar

The Indian rupee traded 27 paise higher at 67.49 against the US dollar in early trade after opening at 67.52.

Rupee after weakening for six consecutive weeks rose against the US dollar following ease in global crude prices and suspected RBI intervention at higher levels, as per Motilal Oswal report.

In the past few sessions RBI has been actively intervening to curb the volatility for the rupee. RBI data released, on Friday, showed reserves dropped by USD 2.6 billion for the week ended May 26 and in this month reserves have dropped by USD 11 billion.

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Friday, 25 May 2018

Shares Of Gas Authority Of India Added 4 Percent As Investors Cheered

Shares of Gas Authority of India added 4 percent as investors cheered a four-fold jump in its profits for the March quarter.

The state gas utility major reported a net profit of Rs 1,021, up 293 percent from Rs 260 crore in the same period of last fiscal.

The profit in fourth quarter was higher due to a one-off impairment GAIL had taken on its investment in Dabhol LNG terminal in the corresponding quarter of previous fiscal.

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Benchmark Indices Opened Mildly Higher On The Last Day Of Week

Benchmark indices opened mildly higher on the last day of week, backed by technology stocks.

The 30-share BSE Sensex rose 63.47 points to 34,726.58 and the 50-share NSE Nifty gained 16.10 points at 10,530.

GAIL, Infosys, TCS, Yes Bank, Asian Paints, IOC, Bajaj Finance, Indiabulls Housing, Hindalco and HPCL are early gainers.

Vedanta, ITC, ONGC, Bharti Airtel, SBI, IndusInd Bank and Titan Company are under pressure.

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Thursday, 24 May 2018

Jet Airways Slipped A Little Over 8 Percent To Hit Its Fresh 52 Week Low

Jet Airways slipped a little over 8 percent to hit its fresh 52-week low of Rs 386.05 on the BSE after the airliner reported a standalone net loss of Rs 1,036 crore in the March quarter due to rise in oil prices and a weaker rupee.

The company had reported a net profit of Rs 602.42 crore in the year-ago period.

The total income also declined by 3.44 percent to Rs 6,055 crore during the quarter, against Rs 6,271.21 crore in the same quarter last year, it said in a regulatory filing.

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Benchmark Indices Extended Gains, With The Sensex Rising Around 200 Points

Benchmark indices extended gains, with the Sensex rising around 200 points despite mixed trend in Asian stocks.

Technology stocks rallied further, with the IT index up nearly 2 percent as TCS, Infosys and HCL Technologies gained more than 2 percent following favourable rupee movement.

Pharma, select banking & financials and metals stocks also lend support to the market while Auto Index is down over a percent due to sharp correction in Tata Motors that lost more than 6 percent on disappointing earnings.

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Wednesday, 23 May 2018

Shares Of L&T Technology Services Gained Over 7 Percent As The Company Reported

Shares of L&T Technology Services gained over 7 percent as the company reported strong growth in its March quarter numbers.

The firm reported a 65 percent surge in its March quarter net at Rs 151.9 crore on a surge in core revenues.

The company, an arm of the engineering giant L&T, had reported a post-tax profit of Rs 96.5 crore in the year-ago period.

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Benchmark Indices Started Off Trade On A Flat Note On Wednesday

Benchmark indices started off trade on a flat note on Wednesday despite weakness in Asian peers.

The 30-share BSE Sensex declined 24.59 points to 34,626.65 and the 50-share NSE Nifty slipped 15.70 points to 10,521.

Tata Motors, HCL Technologies, SBI, TCS, Infosys, Indiabulls Housing Finance and Tech Mahindra are early gainers.

Vedanta declined 4 percent. IOC, HPCL and BPCL dropped over a percent. Nifty Midcap index was down 19 points. Andhra Bank declined 3 percent.

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Tuesday, 22 May 2018

The Rupee Recovered From Its 16 Month Low To Trade 12 Paise Higher

The rupee recovered from its 16-month low to trade 12 paise higher at 67.99 against the US dollar in early session today, after opening 10 paise higher, on fresh selling of the dollar by exporters and banks.

Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee.

Further, investor sentiment turned positive on easing trade woes between the US and China leading to a higher opening of the domestic equity market, boosting the domestic unit, they added.

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Benchmark Indices Started Off Trade On A Flat Note

Benchmark indices started off trade on a flat note, tracking mixed trend seen in Asian stocks.

The 30-share BSE Sensex was up 30.63 points at 34,646.76 and the 50-share NSE Nifty rose 15.30 points to 10,532.

Coal India, ONGC, NTPC and BPCL were early gainers while Bharti Airtel, Lupin, SBI, Bharti Infratel, Grasim, M&M and Hindalco Industries were under pressure. Nifty Midcap index was down 9 points.

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Monday, 21 May 2018

Benchmark Indices Started Off Trade Marginally Higher, Following Positive Trend

Benchmark indices started off trade marginally higher, following positive trend in Asian stocks. Investors digested final outcome of Karnataka election.

The Sensex was up 78.21 points at 34,926.51 and the Nifty gained 13.50 points at 10,609.90.

SBI gained 1.5 percent after Bhushan Steel-Tata Steel deal. ICICI Bank was up 1 percent.

UltraTech Cement was up 1.6 percent and Century Textiles fell 8 percent after cement business deal.

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The Indian Rupee Declined On Monday, It Has Opened Lower By 11 Paise

The Indian rupee declined on Monday. It has opened lower by 11 paise at 68.12 per dollar versus 68.01 Friday.

According to Motilal Oswal, rupee, on Friday, consolidated in a narrow range as most market participants were cautious ahead of the important floor test in state elections of Karnataka. 

Despite the impact of state elections is expected to be short lived, rise in global crude oil prices will continue to drive currency in the short term. Higher crude oil prices and political risk premium could keep the rupee under pressure.

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Friday, 18 May 2018

The Indian Rupee Opened Lower By 7 Paise At 67.77 Per Dollar On Friday

The Indian rupee opened lower by 7 paise at 67.77 per dollar on Friday versus 67.70 yesterday.

According to Motilal Oswal, rupee continued to consolidate in a narrow range for the second successive sessions but traded with a slight negative bias following broad strength in the dollar and as US 10-year yield continued to rise.

On the domestic front, FIIs continued to remain net sellers in the equity and debt segment and yesterday sold another USD 258 million.

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Benchmark Indices Started Off Friday's Trade Mildly Lower Despite Most Asian Stocks

Benchmark indices started off Friday's trade mildly lower despite most Asian stocks traded in the green.

The 30-share BSE Sensex was down 59.51 points at 35,089.61 and the 50-share NSE Nifty fell 17.90 points to 10,664.80.

Sun Pharma, Bajaj Finance, Bajaj Auto, Tech Mahindra, Yes Bank, Eicher Motors, ONGC, Coal India, Lupin, Vedanta and Power Grid were early gainers.

IOC, HPCL, BPCL, Wipro, Indiabulls Housing Finance, Cipla, UltraTech Cement, ICICI Bank and Asian Paints were under pressure.

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Thursday, 17 May 2018

The Indian Rupee Extended Opening Gains, Trading 18 Paise Higher At 67.61

The Indian rupee extended opening gains, trading 18 paise higher at 67.61 against the US dollar.

The 30-share BSE Sensex is off its opening high, rising 51.85 points to 35,439.73 while the 50-share NSE Nifty gained 18.70 points at 10,759.80.

The market breadth was positive as about two shares gained for every share falling on the BSE.

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Benchmark Indices Rebounded Following Confirmation That BJP Is Forming Government

Benchmark indices rebounded following confirmation that BJP is forming government in Karnataka.

The 30-share BSE Sensex was up 112.77 points at 35,500.65 and the 50-share NSE Nifty gained 29.90 points at 10,771.

Tata Steel, Vedanta, TCS, Wipro, Tata Motors, ITC and SBI were early gainers while Cipla, HPCL, BPCL and Lupin were losers. Nifty Midcap was up 0.3 percent.

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Tuesday, 15 May 2018

Benchmark Indices Were Flat In Opening Trade Amid Rising Bond Yields

Benchmark indices were flat in opening trade amid rising bond yields and vote counting in Karnataka.

The 30-share BSE Sensex was up 7.33 points at 35,564.04 and the 50-share NSE Nifty fell 9.80 points to 10,796.80.

HUL gained 2 percent following 11 percent volume growth in Q4. Indiabulls Housing Finance, Yes Bank and HDFC Bank were early gainers.

Axis Bank, Kotak Mahindra Bank, Reliance Industries, SBI, PNB, Bank of Baroda, Bajaj Finance, Adani Ports, NTPC, HCL Tech, Bharti Infratel and ICICI Bank were under pressure.

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The Nifty Started The Week On A Cautious Note Ahead Of The Much Eyed And Awaited Karnataka Election

The Nifty started the week on a cautious note ahead of the much eyed and awaited Karnataka election result.

It is currently facing resistance at the midpoint of the rising channel placed at 10,835 level, a sustained trade above this resistance can take it higher to levels of 10,900, with 11000 being the upper end of the channel.

On the downside, 10,700 is a crucial support zone, which happens to be the lower end of the channel. A trade below 10,700 can halt the bullish trend, dragging it lower to 10,600-10,530 levels.

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Monday, 14 May 2018

The Market Gained Some Strength In Morning, With The Nifty Holding 10,800 Levels

The market gained some strength in morning, with the Nifty holding 10,800 levels ahead of Karnataka election results due tomorrow.

The 30-share BSE Sensex was up 86.32 points at 35,622.11 and the 50-share NSE Nifty gained 21.10 points at 10,827.60.

The Nifty Bank index is up more than 100 points while broader markets underperform frontliners, with the Nifty Midcap index falling quarter percent.

Lupin gained 2 percent after the USFDA inspected Nagpur facility with no observations while Dena Bank traded at 15-year low after widening losses in March quarter.

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Mphasis Falls 3% After Blackstone Cuts Stake By 8% In Company

Mphasis share price corrected nearly 3 percent intraday Monday after promoter Blackstone cuts its stake in the company by 8 percent.

Marble II Pte Ltd, a unit owned by PE firm Blackstone, sold 8 percent stake in the IT company at Rs 960 per share today.

The price at which PE firm sold stake was more than double it paid for buying stake in the Bengaluru based IT services firm.

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Friday, 11 May 2018

The Indian Rupee Gained In The Early Trade On Friday

The Indian rupee gained in the early trade on Friday. It has opened higher by 16 paise at 67.15 per dollar versus 67.31 yesterday.

Market participants will be keeping an eye on industrial production number; expectation is that the growth could be slower in March compared to the previous month. 

For the day, the USD-INR pair is expected to quote in the range of 67.10 and 67.60, said Motilal Oswal.

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Equity Benchmarks Have Begun The Day On The Right Foot, With The Sensex Gaining Over 100 Points

Equity benchmarks have begun the day on the right foot, with the Sensex gaining over 100 points, while the Nifty clocked 10,750 during the morning trade.

The Sensex is up 132.32 points at 35378.59, while the Nifty is up 43.30 points at 10759.80. The market breadth is positive as 518 shares advanced, against a decline of 347 shares declined, while 63 shares have remained unchanged.

Midcaps have begun the day on a positive note, gaining over 0.3 percent on the index. Meanwhile, strength is visible in metals and IT stocks as well. Asian Paints, Tata Steel, and Titan are the top gainers, while Bharti Airtel and Sun Pharma have lost the most.

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Thursday, 10 May 2018

Federal Bank Slipped As Much As 11.5 Percent In The First 15 Minutes Of Trade On Thursday

Federal Bank slipped as much as 11.5 percent in the first 15-minutes of trade on Thursday, a day after it reported 43.5 percent year-on-year drop in net profit at Rs 145 crore for the March quarter because of an increase in provisions and worsening asset quality.

Net profit in the same quarter last year had shot up 2,400 percent to Rs 256.6 crore due to substantially lower provisions and reduction in non-performing assets.

Despite a fall in net profit, some of the brokerage firms remain positive on the stock and maintain their buy rating. However, some of them have reduced their target price post Q4 results.

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The Indian Rupee Opened Lower By 7 Paise At 67.33 Per Dollar On Thursday

The Indian rupee opened lower by 7 paise at 67.33 per dollar on Thursday versus previous close 67.26.

According to Motilal Oswal, rupee fell to the lowest level in 15-months following surge in global crude oil prices and fund outflows from FIIs in equity and debt segment. This month, fund outflows from the FIIs has been to the tune of USD 1.4billion including equity and debt segment.

On the other hand global crude oil prices rose to the highest level in three years after the US pulled out of an international nuclear deal with Iran.

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Wednesday, 9 May 2018

The Nifty Ended On A Subtle Note After Trading Largely Volatile For The Day

On Tuesday, the Nifty ended on a subtle note after trading largely volatile for the day. After opening higher, the markets traded flat for most part of the day and finally managed to close above its five day exponential moving average at 10,717.80, up 0.02 percent.

The relative strength index on the daily chart is placed at 63.71, which is showing signs of an upward momentum. 

The moving average convergence divergence is also trading above the zero line with a positive crossover, indicating that the bias could remain bullish for the next few trading sessions.

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The Sensex Is Down 48.69 Points Or 0.14% At 35167.63 And The Nifty Down 16.30 Points

The Sensex is down 48.69 points or 0.14% at 35167.63, and the Nifty down 16.30 points or 0.15% at 10701.50. About 302 shares have advanced, 229 shares declined, and 59 shares are unchanged.

Selling is visible across all sectors, barring Nifty IT, which is trading over half a percent higher. Big cuts are visible in financial names, with Nifty Bank falling 0.40 percent. 

Midcaps too are trading lower. OMC stocks have taken a hit on the back of higher crude oil prices.

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Tuesday, 8 May 2018

Shares Of PNB Housing Finance Fell Over 7.5 Percent In Morning Trade

Shares of PNB Housing Finance fell over 7.5 percent in morning trade as investors reacted to a block deal. Around 2.6 percent equity has exchanged hands in a block deal.

According to a report in The Times of India Quality Investment Holdings, an arm of the PE giant Carlyle, is said to be selling 80 lakh shares of the firm. 

This amounts 4.8% of its equity, for around Rs 1,040 crore with the help of block deals.

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The Sensex Is Up 58.73 Points At 35266.87, While The Nifty Is Up 12.70 Points

The Sensex is up 58.73 points at 35266.87, while the Nifty is up 12.70 points at 10728.20. The market breadth is positive as 532 shares advanced, against a decline of 205 shares, while 59 shares are unchanged.

Among stocks, ICICI Bank is trading higher by around 5 percent, while Lupin has staged a recovery from Monday’s low points. 

Other gainers include Titan, ITC, Tata Steel and Yes Bank. On the losing side, Infosys and other IT stocks are trading lower, largely on the back of a rub-off of Cognizant’s earnings trends. Oil stocks, IOC and BPCL are trading lower on the back of higher oil prices.

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Monday, 7 May 2018

The Market Has Given Up A Shade Of The Gains From Opening Minutes

The market has given up a shade of the gains from opening minutes. The Nifty is trading around 10,650-mark. 

Midcaps have given up all of their gains on the back of selling pressure. Maximum cuts are visible in the pharmaceuticals space, with the Nifty Pharma index down over 1 percent. 

Shares of Ambuja Cements fell over 1 percent during the morning trade as investors reacted to the company’s March quarter results.

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The Rupee Slipped To 67.06 In Today's Trading Session, Down 20 Paise From Friday's

The rupee slipped to 67.06 in today's trading session, down 20 paise from Friday's close 66.86. It has opened marginally higher at 66.82 per dollar in the early trade on Monday.

According to ICICIdirect, The near-month dollar-rupee May contract on the NSE was at 67.07 in previous session. The May contract open interest increased 8.89% in previous day.

We expect the USD-INR to meet find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.

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Friday, 4 May 2018

Benchmark Indices Opened Flat With A Negative Bias Following Correction

Benchmark indices opened flat with a negative bias following correction in global peers.

The 30-share BSE Sensex was down 19.92 points at 35,083.22 and the 50-share NSE Nifty fell 8.70 points to 10,671.

Axis Bank, Bharti Airtel, Kotak Mahindra Bank, Tech Mahindra and, Infosys were under pressure.

Bharti Airtel, Bajaj Finance and Vedanta were early gainers.

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The Rupee Edged 2 Paise Lower To 62.66 Against The US Dollar

The rupee edged 2 paise lower to 62.66 against the US dollar after opening one paisa higher after the greenback weakened overseas ahead of monthly US jobs report and China-US trade meet outcome.

Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies as senior Chinese and US officials met in Beijing today for a second day of trade talks, supported the domestic unit.

Investors are also keeping an eye on the US employment report for April for further indications of the strength of the US labour market and inflation pressures, they added.

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Thursday, 3 May 2018

Vedanta Is Likely To Report A Consolidated Profit Of Rs 2,577.1 Crore In Q4 FY18

Vedanta is likely to report a consolidated profit of Rs 2,577.1 crore in Q4 FY18, a rise of 25 percent from Rs 2,053 crore posted during the previous quarter. 

According to a Reuters analyst poll, the metals major is likely to report revenues of Rs 24,815.2 crore as against Rs 24,361 crore quarter-on-quarter, a marginal rise of two percent.

Profit during this quarter may be lower due to an impairment loss of Rs 1,800 crore after the Supreme Court ordered closure of its Goa iron-ore mining operations. During the corresponding quarter of last year, the firm had reported a profit of Rs 2,971 crore, while its revenue was Rs 22,371 crore.

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Benchmark Indices Opened Flat Amid Weak Global Cues On Thursday

Benchmark indices opened flat amid weak global cues on Thursday as investors await corporate earnings and Karnataka elections that is scheduled to be held next week.

The 30-share BSE Sensex was down 4.36 points at 35,172.06 and the 50-share NSE Nifty fell 6.10 points to 10,711.90.

ICICI Bank, Hindalco, GAIL, Grasim Industries and ITC were early gainers. Nifty Midcap index was down 96 points and Nifty Bank was down 65 points.

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Wednesday, 2 May 2018

The Market Is Trading Mildly Higher Amid Consolidation And Weakness In Asian Stocks

The market is trading mildly higher amid consolidation and weakness in Asian stocks. Auto, infra, select banks stocks and Reliance Industries supported the market while technology stocks were under pressure after HCL Tech earnings.

HCL Technologies is the biggest loser with more than 3 percent loss after Q4 earnings slightly missed analyst expectations while Auto index was up 1 percent after strong April sales.

InterGlobe Aviation and Jet Airways were under pressure after IOC hiked jet fuel prices. The 30-share BSE Sensex was up 48.72 points at 35,209.08 and the 50-share NSE Nifty rose 6.60 points to 10,746.

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Benchmark Indices Opened Higher Despite Weakness In Asian Stocks

Benchmark indices opened higher despite weakness in Asian stocks, backed by auto sales data and strong GST collection data.

The 30-share BSE Sensex was up 116.70 points at 35,277.06 and the 50-share NSE Nifty rose 30.50 points to 10,769.90.

Tata Motors, Bajaj Auto, Eicher Motors, M&M, Maruti Suzuki, Reliance Industries and L&T gained up to 3 percent. Wipro, HUL, HCL Technologies and Hindustan Zinc lost up to Nifty Midcap was up 12 points and Nifty Bank gained 80 points.

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