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 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.

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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.

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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 Today

Sensex, Nifty open flat; ITC gains 1%, SBI & Axis Bank down. For market update visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22. 

•  ITC, Cipla, Adani Ports, BHEL and Sun Pharma are top gainers while TCS, ONGC, Infosys, NTPC and Wipro are losers in the Sensex.
•  The market has opened flat on Friday. The Sensex is up 28.29 points or 0.1 percent at 27738.81 and the Nifty is up 9.55 points or 0.1 percent at 8519.65. About 286 shares have advanced, 121 shares declined, and 25 shares are unchanged.
• The Indian rupee opened flat at 67.18 per dollar on Friday versus previous close of 67.17.
• Transaction costs on MFs should be within TER limit: Sebi
  Brokerage and transaction costs levied on mutual fund schemes should be within the stipulated total expense ratio limit and any additional cost has to be borne by the asset management company concerned, according to Sebi.
• Six stocks that brokerages are bullish on post Q1 results

1.   ITC
2.   HDFC Bank
3.   Ashok Leyland
4.   ABB
5.   JSW Energy
6.   Bharat Financial Inclusion

Indian Share Market Live News and Tomorrow Tips

Nifty opens above 8550, Sensex firm; ITC up 1%, IT stocks down. For more information visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-7988-11-22.

•  The market has opened higher supported by firm global cues. The Sensex is up 60.51 points or 0.2 percent at 27976.40, and the Nifty up 16.85 points or 0.2 percent at 8582.70. About 308 shares have advanced, 98 shares declined, and 34 shares are unchanged.
•  Cipla, ITC, Bajaj Auto, Hero MotoCorp and ONGC are gainers while Dr Reddy's Labs, Infosys, TCS, BHEL and M&M are losers in the Sensex.
•  Advanced Enzyme Tech IPO subscribed 89% on Day 1
  The initial public offer of Advanced Enzyme Technologies was subscribed 89 percent on the first day of the 3-day bidding. The Rs 411.5-crore IPO received bids for 28,90,304 shares against the total issue size of 32,34,059, data available with the NSE till 1700 hours showed.
• British govt fund CDC to invest Rs 1,000 cr in IIFL Finance This investment makes a second coming for the UK government-owned development finance institution as the CDC Group was the first private equity investor in the IIFL Group in the late 1990s.
•  Nagaland to undertake coffee plantation on 50k hectares by 2030 Secretary to Government of Nagaland, Y Kikheto Sema said the state Department of Land Resources in sync with other line departments would be taking up massive coffee plantation drive in every district as the state has been declared geographically and topographically suitable for coffee by the Coffee Board.
•   Muted Q1: Nasscom says no cut in FY17 growth target of 10-12% Even as some large Indian IT companies have posted lower-than-expected June quarter numbers and issued muted sales outlook, Nasscom today said it sees no reason to cut industry's full year growth forecast of 10-12 per cent. 

Today's Indian Stock Market Live Update

Siddhivinayak Temple opens demat account for stock donations. For more information visit www.marketmagnify.com/freetrial.php & give a missed call@ 78-79-88-11-22.

         The CDSL demat account has been opened with SBICAP Securities Ltd in the name of Shree Siddhivinayak Ganapati Temple Trust (Prabhadevi) Mumbai, which manages the famous Siddhivinayak Temple.
       Nifty hits 8550, Sensex firm; Wipro tanks 5%, Reliance up 1%

   Reliance, GAIL, M&M, Coal India and Cipla are top gainers in the Sensex while Wipro is down 5 percent. Other losers in the Sensex are ICICI Bank, Infosys, ONGC and Axis Bank.

     After a slow opening, the market has quickly picked pace on Wednesday. The Sensex is up 86.99 points or 0.3 percent at 27874.61 and the Nifty is up 22.60 points or 0.3 at 8551.15. About 507 shares have advanced, 233 shares declined, and 35 shares are unchanged.

     M&M's tech, product development spend at Rs 1,938 cr in FY16 The company, which is betting big on innovation and aims to be among the top 50 'Most Admired' brands in the world by 2021, also filed 173 patents in 2015-16.

          Public sector Indian Bank today said it is adequately funded and will meet its capital requirements through internal accruals. Hailing infusion of Rs 22,915 crore capital into 13 PSU banks by the Centre as an "intelligent move", Indian Bank Managing Director and CEO Mahesh Kumar Jain said it would help the lenders to focus on credit growth.