Today's Stock Market News

Sebi initiated 614 proceedings in FY16, recovered Rs 224 cr. For more information visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

• Markets regulator Sebi launched 614 proceedings against the entities which defaulted on payment of penalties in 2015-16 and recovered dues worth over Rs 224 crore. In comparison, the number of attachment proceedings initiated by the Securities and Exchange Board of India (Sebi) in 2014-15 stood at 1,619. These proceedings involve attachment of bank accounts, lockers, shares and debentures, among others.
• Equity benchmarks started off the week on a flat note as investors digested the news of appointment of new RBI governor Urjit Patel.
• The 30-share BSE Sensex was down 12.55 points at 28064.45 and the 50-share NSE Nifty fell 4.50 points to 8662.40.
• Adani Ports topped the buying list, up 2 percent followed by ITC, HDFC, HDFC Bank, HUL and Reliance Industries whereas TCS, Lupin and Tata Steel fell over a percent.

Indian Stock Market Tips

Nifty hits 8700, Sensex up over 100 pts; Wockhardt dives 12%. For more information visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

• The market has opened higher on Monday. The Nifty has opened at new 52-week high with the 50-share index up 26.95 points or 0.3 percent at 8710.10 and the Sensex is up 113.53 points or 0.4 percent at 28191.88. About 409 shares have advanced, 101 shares declined, and 37 shares are unchanged.
• Bajaj Auto, Axis Bank, Adani Ports, M&M and Maruti are top gainers while Infosys, GAIL, TCS and Bharti Airtel are losers in the Sensex. Wockhardt is down 12 percent.
• Q2 slippages may be in Rs 2,000-2,500 cr range: Andhra Bank Andhra Bank's MD & CEO Suresh Patel says large accounts particularly in the construction and iron and steel are major contributors to slippages.
• Apollo Munich eyes 2-3 bancassurance tie-ups this fiscal Enthused by the open architecture system announced by insurance regulator IRDAI, Apollo Munich Health Insurance said it is eyeing a couple of more bancassurance tie-ups in the current fiscal.
• Govt may cut gas price for producers by 20 pc in Oct Natural gas price paid to producers like state-owned Oil and Natural Gas Corp (ONGC) and Reliance Industries is likely to fall 20 per cent to USD 2.45 in October.
• Economy's financial parameters improved in April-June: Survey Banks and financial institutions witnessed improvement in financial parameters such as cost of funds, liquidity position and external financial linkages in April-June quarter, according to a survey.

Indian Stock Market Upcoming Update; Cognizant Net Down 40%

The Indian markets on Friday posted their biggest single-day gain in almost a month, after the Bank of England’s (BoE’s) stimulus plan further boosted the risk appetite of global investors. For more market update visit www.marketmagnify.com/freetrial.php & give missed call @ 78-79-88-11-22.

     Most emerging markets (EMs) rallied after Britian's central bank on Thursday cut borrowing costs and announced a stimulus package aimed at protecting its economy from the Brexit (vote to leave the European Union) fallout.

      Cognizant Technology Solutions, has cut its full-year revenue forecast (it follows a January-December financial year) for the second straight quarter, emphasising the challenges impacting the information technology sector.
       The US-based company has cut its full-year revenue growth estimate to $13.47 billion from $13.6 billion projected earlier. This represents a growth rate of 8.45-9.5 per cent, one of the lowest ever for the company.

Upcoming Indian Stock Market Update

Hike in foreign shareholding in bourses to help MCX, BSE & NSE. For more market update visit & www.marketmagnify.com/stock-future-tips.php give a missed a call @ 78-79-88-11-22. 

         Earlier this week, the Union Cabinet increased the foreign shareholding limit in Indian stock exchanges, a depository, a banking company, an insurance company and a commodity derivative exchange from 5 per cent to 15 per cent in a bid to attract overseas investment and expertise.

              The NDA government has liberalised the foreign investment limit in a host of sectors such as defence, civil aviation and pharmaceuticals in a major reform overdrive.

The approval to raising of investment limits for foreign entities to 15 per cent is in pursuance of the implementation of the 2016-17 Budget announcement made by Finance Minister Arun Jaitley.

        As per the new policy, foreign portfolio investors (FPI) can acquire shares through initial allotment in stock exchanges, besides the secondary market route.

This move is expected to benefit potential investors of the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), which have plans to go public with initial public offerings (IPOs).
           BSE has already received in-principle approval from the capital market regulator Sebi for its IPO to raise Rs 1,300 crore by selling up to 30 per cent stake. Domestic commodity exchanges such as Multi Commodity Exchange (MCX) and National Commodity & Derivatives Exchange (NCDEX) will also get a fresh leg-up.

Stock Market Live News

PNB Q1 profit tanks 57%; NPA nearly 14%, slippages at Rs 7533 cr. For more information visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

     Public sector lender Punjab National Bank 's (PNB) first quarter profit plunged by 57.5 percent to Rs 306.4 crore on yearly basis but the fall was much less compared to analysts' expectations. Higher other income and lower tax cost supported profits Provisions for bad loans jumped 51.2 percent to Rs 2,738.4 crore in the quarter ended June 2016 compared with year-ago period but declined sharply 74 percent from Rs 10,485.2 crore in preceding period. 

• The 50-share NSE Nifty started off August series on a flat note. The Sensex was down 10.22 points at 28198.40 and the Nifty declined 2.75 points at 8663.55.  

• Axis Bank, L&T, Tata Steel, Adani Ports, Coal India, Eicher Motors, Bosch, Tata Power and Tata Steel were early gainers while BHEL, ICICI Bank, Bharti Airtel, NTPC, SBI, Bharti Infratel and ACC were losers.
• The Indian rupee opened flat at 67.04 per dollar against previous close 67.04
• E-commerce can create 12 mn jobs in a decade: HSBC
• In the coming decade the country needs to create 80 million jobs and as per a report by HSBC it might fall short by 24 million if business and economic growth is as usual.

How to Invest in Stock Market

Nifty opens above 8600, Sensex firm; GAIL, Cipla, BHEL gainers. For more information visit www.marketmagnify.com/freetrial.php & give missed call @ 78-79-88-11-22.

•  The market has opened flat on Tuesday with the Nifty holding 8600. The 50-share index is down 1.90 points at 8633.75 and the Sensex is up 25.61 points at 28120.95. About 264 shares have advanced, 75 shares declined, and 21 shares are unchanged. 
• GAIL, Cipla, Tata Steel, BHEL and ONGC are top gainers while HDFC, Lupin, ICICI Bank, Dr Reddy's and Axis Bank are losers in the Sensex.
• The Indian rupee opened marginally lower at 67.41 per dollar against previous close 67.35.
•  The Nifty50 was trading above its crucial level of 8,600 supported by gains in realty, power, oil & gas, metal, consumer durable, and telecom stocks. 
• Low cotton prices, energy costs boosted Q1 margins: KG Denim KG Denim reported a strong first quarter with margins improving to 15.2 percent and net profit rising to Rs 9.3 crore as against Rs 1.6 crore year-on-year. Lower cotton prices and better energy costs aided margin expansion in the first quarter of FY17, says B Sriramulu, Managing Director of KG Denim. Volumes for the company grew at near 3 percent levels in Q1
•  Essar expands capacity at Hazira Port with Rs 800cr investment The company is investing Rs 800 crore to add 20 MMPTA at its Hazira Port in Surat to its existing 30 MMTPA capacity, Essar Ports Chief Executive Officer Rajiv Agarwal told reporters here.

Indian Stock Trading Ideas From Market Experts

The market has opened flat on Monday with the Nifty below 8550. The 50-share index is down 21.65 points or 0.2 percent at 8519.55 and the Sensex is down 57.53 points or 0.2 percent at 27745.71. About 214 shares have advanced, 82 shares declined, and 28 shares are unchanged. For more market update visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

• Results today:

Canara Bank , Indiabulls Housing Finance, Bajaj Corp, Hitachi Home, State Bank Of Mysore, Eveready Ind, Info Edge, Merck, Navin Fluorine, Tata Sponge Iron, Asian Granito, Automotive Stampings, Eimco Elecon, Ganesha Ecosphere, Ghcl, Greenply Industries, HOEC, Jk Paper, K.P.R. Mill, Kg Denim, Maharashtra Scooters, Nelco, Pincon Spirit, Rane Engine Valve, Shanthi Gears, Supreme Petrochem, Texmaco Infrastructure & Holdings, Texmaco Rail & Engineering, Transformers And Rectifiers

• Adani Ports, ITC, Asian Paints, Maruti and GAIL are top gainers while Axis Bank, Cipla, BHEL, TCS and M&M are top losers in the Sensex.
• Axis Bank's weak fee income growth dissappoints: IIFL. Axis Bank reported a weak set of first quarter earnings on July 22. The profit fell for the second consecutive quarter and for the first quarter of this fiscal it saw a 21.4 percent dip year-on-year (YoY) on account of sharp worsening in asset quality.  
• Shares of Equitas Holdings gained 5.6 percent intraday Monday as its net profit jumped 64 percent in the quarter ended June of FY2016-17. It has reported 64 percent jump in consolidated net profit at Rs 61.2 crore for the first quarter of 2016-17 financial year against net profit of Rs 37.4 crore in the corresponding April-June quarter of 2015-16.

Indian Stock Market Live News

Sensex gains over 100 pts, Nifty firm; Reliance up 2%

Asian Paints, Reliance, Axis Bank, Bajaj Auto and Infosys are top gainers while NTPC and ONGC aee losers in the Sensex. For more information visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

      The market has opened higher on Monday. The Sensex is up 118.21 points or 0.4 percent at 27954.71 and the Nifty is up 22.65 points or 0.3 percent at 8564.05. About 186 shares have advanced, 47 shares declined, and 22 shares are unchanged.
           Sun Pharma Advanced Research Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 29, 2016, inter alia, to consider and take on record, the un-audited financial results of the Company for the quarter ended June 30, 2016 (Q1).

      CST technologies are sufficiently suited for heating, drying and cooling applications for industrial processes and useful for cooking and domestic purposes.
The sentiment remains very positive but the trading is expected to be rangebound in the near term till the next leg of the rally resumes.

            After Reliance Industries beat street expectations for the first quarter of this fiscal, Prayesh Jain of IIFL said that more upside is expected in the stock post earnings and said its gross refining margins (GRMs) are likely to stay strong going forward.