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.

SEBI Steps Up L'affaire Mallya Probe; to Seek Overseas Help

The market has opened at new 2016 high while the midcap index is at 11-month high. The Sensex is up 368.52 points or 1.4 percent at 27495.42, and the Nifty is up 104.45 points or 1.2 percent at 8427.65. About 932 shares have advanced, 111 shares declined, and 36 shares are unchanged. For more information visit www.marketmagnify.com/stock-option.php

      ICICI Bank, BHEL, Tata Motors, Bharti and L&T are top gainers. The Indian rupee gained in the early trade. It has opened higher by 24 paise at 67.12 per dollar versus 67.36 Friday.

      Road Transport and Highways Minister Nitin Gadkari will invite investments in ports, ship building and coastal economics zones during his week long visit to the US. "Indo-US cooperation in the vital infrastructure sector will get a new impetus when (the minister) holds official talks with his counter-part US Secretary of Transportation, Anthony Foxx in Washington today, on a wide range of projects of mutual interest", an official statement said.

           In mounting troubles for embattled Vijay Mallya, markets regulator Sebi has stepped up its probe into alleged fund diversion from his erstwhile listed group firms to other entities, including some abroad and his various sport ventures. With the latest disclosures taking total suspected fund diversion at United Spirits alone to over Rs 2,500 crore, Sebi is also referring to the matter for further action by other agencies including SFIO (Serious Fraud Investigation Office) under the Corporate Affairs Ministry, a top official said.

          Private sector HDFC Bank plans to focus on digital platforms in rural and semi-urban markets to achieve sustained growth in the coming years.

       The Gujarat government is conducting a social impact assessment for acquisition of about 33 hectares of land in three villages of Vadodara for the expansion of Indian Oil Corporation 's refinery here.

Nifty, Sensex Under Pressure; Lupin, Tata Steel Most Active

The market has started off last day of the week on a flat note. The Sensex fell 2.35 points to 27199.14 and the Nifty declined 2.40 points to 8335.50. For more information visit www.marketmagnify.com/stock-option.php    

       Lupin and Tata Motors were top gainers in early trade, up 2 percent each followed by Sun Pharma, BHEL, Hero MotoCorp and Aurobindo Pharma while Tata Steel, ITC, ONGC, Bharti Airtel, ICICI Bank, Idea Cellular and Bharti Infratel were losers.         

        Asian markets were trading lower with the Shanghai, Hang Seng and Nikkei falling 0.5-1 percent as oil declined Thursday and ahead of US payroll data due today.Equity benchmarks extended sell-off with the Nifty breaching 8300 level for the first time in last five sessions. The Sensex fell 108.71 points to 27092.78 and the Nifty declined 33.50 points to 8304.40.
        The market breadth was weak as about 839 shares declined against 653 advancing shares on BSE.

       Tata Steel 's board is expected to meet today to discuss sale of its UK assets. Sources have told CNBC-TV18 that the steel major is likely to hold asset sale as of now. If the deal does not go through, some pressure will be seen on the stock in near-term, says Tarang Bhanushali of IIFL who has a reduced rating on Tata Steel. In case of no deal, the target price for the stock is Rs 305. 

          Biocon Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on July 21, 2016, inter alia, to approve the un-audited financial results for the quarter ended on June 30, 2016 (Q1).The Company will organize a conference call for analysts and investors on July 22, 2016. The details of the call will be available on the Company's website closer to the scheduled event.Source : BSE

Ola to invest Rs 350 crore in Haryana over 5 years

L&T Infotech IPO is set to open on July 11 and close on July 13. The company contributes about 8 percent of the consolidated revenue of the entire L&T business. CNBC-TV18's Kritika Saxena learns that this IPO kicks of a series of consolidations that the L&T group is looking at doing.  For more market news visit www.marketmagnify.com/stock-future-tips.php

& give a missed call @ 78-79-88-11-22.

       

  Tata Motors, ICICI Bank, Dr Reddy's Labs, L&T and Sun Pharma are top gainers while GAIL and HDFC Bank are losers in the Sensex.

      Gold slipped below USD 1320 an ounce as buyers cashed in gains from the biggest two-day rally in the metal since late 2008 made last week.

     The Indian rupee opened higher by 17 paise at 67.78 per dollar on Wednesday versus previous close 67.95.

     Taxi hailing app Ola has signed an agreement with Haryana government to create over 10,000 entrepreneurs in the state with an investment of Rs 350 crore over the period of five years, the company said today.

        The market breadth was positive as about four shares advanced for every share declining on Bombay Stock Exchange.  

        According to Angel Broking, Rupee is likely to trade sideways to positive as yesterday’s robust release of GDP and consumer confidence data from the US will keep the DX supported.

       Hybrid instruments include optionally convertible or partially convertible debentures, Foreign Currency Convertible Bonds - which are intrinsically debt-instruments.            The company has bought back 50,77,504 equity shares at an average price of Rs 3,090.92 per share. The company has thus deployed Rs 1,569.41 crore against the maximum buyback size, Dr Reddy's Laboratories said in a regulatory filing.

Today's Stock Optios Tips

The market has opened flat ahead of crucial Brexit vote. The Sensex is down 0.55 points at 26812.23, and the Nifty is down 2.05 points at 8217.85. About 486 shares have advanced, 203 shares declined, and 36 shares are unchanged. For more Stock Option Tips give a missed call@ 78-79-88-11-22

          Ambit retains buy on Magma Fincorp; bets on RoA, RoE improvement

After having a recent management interview, the brokerage says it expects Magma's RoE to improve to 14 percent by FY18 driven by ongoing restructuring improving operational efficiencies, declining funding cost, and under-control asset quality.

         Govt okays Rs 58 cr to mitigate NH-17 widening impact on KBS

"NHAI has approved an estimate of Rs 58.16 crore to mitigate impacts on wildlife in Karnala Bird Sanctuary (KBS) for widening of part of Panvel-Indapur section of NH-17. This section constitutes direct connectivity from Mumbai to Goa," Road Transport and Highways Ministry said in a statement.

            Mahanagar Gas IPO oversubscribed 1.10 times on Day 1

 The Rs 1,040 crore-IPO received bids for 1,90,59,250 shares against the total issue size of 1,73,46,150 shares, data available with the NSE till 1700 hrs showed.
             Mulling more health & nutrition products in India: Nestle

 FMCG major Nestle India is considering to expand health and nutrition products offering in the domestic market, leveraging on its parent's global portfolio.
          USL seeks shareholders' nod again to report sick to BIFR

 "The accumulated losses of the company as on March 31, 2016, is greater than 50 percent of the peak net worth in the immediately preceding four financial years (Rs 5,849.62 crore)," the company said in a notice to shareholders.
         Linkage auctions key for Coal India, to offset wage hikes: Citi

The research report discounts a weak volume outlook for Coal India, reckoning that the UDAY scheme, along with with forward e-auctions, and rationalisation of high-grade prices should help tick up volumes. Morgan Stanley, meanwhile, is underweight on company.
           Trade unions slam govt's FDI policy initiatives

 AITUC Secretariat condemned the full open door FDI policy for defence, aviation and retail trade and six other sectors including pharmaceutical, the union said in a statement. 

Today's Stock Cash Tips

The market has opened in green, keenly keeping an watch on Reserve Bank of India as the central bank is set to present its bi-monthly monetary policy review.  For more information visit http://marketmagnify.com/stock-cash-tips.php

The Sensex is up 81.49 points or 0.3 percent at 26858.94, and the Nifty is up 28.05 points or 0.3 percent at 8229.10. About 487 shares have advanced, 172 shares declined, and 25 shares are unchanged. 

      SBI, ICICI Bank, BHEL, Tata Steel and Wipro are top gainers while Sun Pharma, Lupin, Dr Reddy's, Infosys and Adani Ports are losers in the Sensex.
    The Indian rupee opened higher by 6 paise at 66.90 per dollar on Tuesday against previous close of 66.96.

Crude oil Nymex holds above the 49 mark after jumping over 2 percent yesterday. Gold prices trade around 1240 USD an ounce.
     In morning trade, Asia stocks traded mixed with the Japanese benchmark index giving up initial gains as the yen nudged higher against the dollar.
         The Reserve Bank of India (RBI) will hold its third bimonthly money policy review of the year on Tuesday. 

Stock Cash Live News

The market has opened in green but the Nifty is still below 8250. The 50-share index is up 7.95 points or 0.1 percent at 8228.75 and the Sensex is up 42.55 points or 0.2 percent at 26885.58. About 345 shares have advanced, 147 shares declined, and 40 shares are unchanged. For  more information visit www.marketmagnify.com/stock-cash-tips.php

& missed call @ 7879-88-11-22

Lupin, GAIL, Cipla, Sun Pharma and M&M are top gainers while Adani Ports, Hero MotoCorp, Tata Steel, Asian Paints and Maruti are losers in the Sensex.

       The Indian rupee gained in early trade, opening higher by 30 paise at 66.95 per dollar versus 67.25 Friday.

       Asian markets traded mixed, with Japan shares taking a tumble, as a disappointing May jobs report in the US on Friday weakened the dollar and bolstered regional currencies, including the yen.

          Car buyers seem to have begun lapping up petrol variants in a big way with the diesel vehicles facing wrath of the courts on pollution concerns, prompting automakers to recalibrate their production strategy.
           Government needs to speed up implementation of GST, address the issue of cheap imports and improve investment climate as majority of sectors are witnessing 'moderate' growth, says a CII survey.

         The people of the country have made a chai-wala the Prime Minister who had taken many decisions in the nation's interest and to make India a corruption-free country.

       Mutual fund managers have pumped in more than Rs 6,500 cror