Indian Stock Market News, Nifty above 8650

Sensex, Nifty open flat; Sun Pharma, Maruti, SBI early gainers. For more market update visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

• The market has opened flat with subdued global cues. The Sensex is up 12.99 points at 28016.11 and the Nifty is up 2.20 points at 8638.75. About 526 shares have advanced, 225 shares declined, and 53 shares are unchanged.
• Sun Pharma, Maruti, Lupin, SBI and L&T are top gainers while ICICI Bank, HDFC, Infosys, wipro and Hero are among losers in the Sensex.
• The Indian rupee opened marginally lower at 66.78 per dollar on Tuesday versus previous close 66.74.
  Tata Motors reported a 7.48 percent increase in total sales at 43,160 units in July.
  Domestic sales of Tata Motors' commercial and passenger vehicles grew 8 percent to 37,789 units in July over the same month of the previous year.
•   Results today: Voltas , Indian Bank , Torrent Power , JM Financial , Alicon Castalloy, Apple Credit Corporation, Ashish Polyplast, Century Plyboards (India), Cybertech Systems, Digjam, EIH, Gujarat Sidhee Cement, HEG, MP Agro Industries, Mahamaya Steel Industries, Modella Woollens, Precot Meridian, Pudumjee Industries, Summit Securities, Tata Investment Corporation, TCI Developers, TCI Industries, Ugar Sugar Works, UFO Moviez, Veto Switchgears, Wonderla Holidays, Zydus Wellness

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.

Smartphones lift Samsung Electronics to Best Profit in Over 2yrs

Equity benchmarks opened on a flat note amid mixed Asian cues. The Sensex was up 35.97 points at 27202.84, and the Nifty gained 6.05 points at 8342. For more information visit www.marketmagnify.com/stock-option.php

       About 176 shares have advanced, 65 shares declined, and 19 shares are unchanged.

Bharti Airtel and Dr Reddy's Labs gained over a percent followed by ITC, HDFC, SBI, L&T and HUL while Infosys, HDFC Bank, TCS, Bajaj Auto, Reliance Industries and NTPC declined.

      Punjab National Bank climbed over 3 percent as its subsidiary housing finance company has received approval for listing IPO from National Stock Exchange and Bombay Stock Exchange.

           The Chinese government's call to the nation to build an innovation-driven economy from the top down has sparked a rush by local governments to construct new buildings in the name of supporting creativity.

     Quality PSU banks a must-have in a portfolio: Quantum Securities In the light of the boost given by the government in the infrastructure space, companies in cement and steel are looking good, said Sanjay Dutt of Quantum Securities. "Infrastructure is a space where you have to remain invested.

      Max Financial Services Ltd has informed BSE that Mr. Sandeep Pathak has joined the Company as Company Secretary and Compliance Officer of the Company effective July 05, 2016.Source : BSE
            Kalpataru Power Transmission Ltd has informed BSE that Kalpataru Power Transmission Ltd, a leading global EPC player in the power & infrastructure contracting sector has secured new orders/notification exceeding Rs 1900 crores.Source : BSE

      Tech giant Samsung Electronics Co Ltd said on Thursday its second-quarter operating profit likely rose 17.4 percent from a year earlier, its highest in more than 2 years as Galaxy S7 smartphone sales propelled mobile earnings.

     The world's top maker of smartphones and memory chips said its April-June profit was likely 8.1 trillion won (USD7 billion), better than the average forecast of 7.8 trillion won tipped by a Thomson Reuters survey of 16 analysts. It was the highest since a 8.5 trillion won profit in the first quarter of 2014.

Today's Stock Cash Tips; Nifty Opens Above 8250 on Expiry Day

Bharti, SBI, Dr Reddy's Labs, GAIL and BHEL are top gainers. For more information visit www.marketmagnify.com/stock-cash-tips.php & give a missed call @ 78-79-88-11-22.

    The Indian rupee opened higher by 13 paise at 67.55 per dollar versus 67.68 Wednesday.

  The Sensex is up 221.86 points or 0.8 percent at 26962.25, and the Nifty up 62.55 points or 0.8 percent at 8266.55. About 1318 shares have advanced, 310 shares declined, and 67 shares are unchanged. BHEL, Tata Motors, NTPC, Hero MotoCorp and HUL are top gainers. GAIL is down.

      The cane price payable and arrears have been calculated on the basis of Fair and Remunerative Price (FRP), which is the minimum price, fixed by the Centre, to be paid to farmers. For the 2015-16 marketing year, FRP for sugarcane has been fixed at Rs 230 per quintal.

     In order to address time lag in agri-data, there is a need to use modern technologies like remote sensing, he said, adding that such technologies are now being promoted in his ministry for collecting horticulture data.
     Expenditure on air transport is negligible in rural areas while air transport accounts for 2.53 percent of all transport expenditures in urban areas.

      Speaking to CNBC-TV18 Vinod Aggarwal of Eicher Motors said tippers are doing brisk business for the company. He added that as domestic consumption increases, thanks to the Seventh Pay Commission hikes, it will help the commercial vehicle (CV) sector.

      Morgan Stanley is overweight on Hindalco Industries with a target price of Rs 147. The brokerage house believes improved cash flows from higher aluminium price and volume growth should drive deleveraging for the company.