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.

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 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. 

Indian Stock Market Today's Offer

Sensex, Nifty open flat; HUL loses 2%, Mindtree falls 6% on Q1. For more information visit www.marketmagnify.com/freetrial.php & give a missed call @ 78-79-88-11-22.

     The market has opened marginally in green. The Sensex is up 39.87 points or 0.1 percent at 27786.53, and the Nifty is down 1.05 points at 8507.65. About 212 shares have advanced, 79 shares declined, and 24 shares are unchanged.
          Tata Motors, ICICI Bank, TCS, HDFC and Tata Steel are gainers in the Sensex. HUL loses over 2 percent while Bharti, Wipro, BHEL and Adani Ports are losers. Mindtree falls 6 percent on its Q1 results.

           Drug firm Dr Reddy's Laboratories has launched generic Omeprazole and Sodium bicarbonate capsules, used for treatment of acid reflux and ulcers, in the US market after receiving approval from the      country's health regulator.

               Results today: UltraTech Cement , Wipro , CRISIL, Linde India, MPS

Shree Cement today said it has won the bid for coal linkages from state-run Coal India subsidiary, South Eastern Coalfields Ltd (SECL), for 80,000 tonnes annually.
              Adani Ports and Special Economic Zone (APSEZ) today said it has raised Rs 1,000 crore by alloting Non-Convertible Debentures (NCDs) on private placement basis.

               Maruti Suzuki India (MSI) continued its grip in the passenger vehicles market in India with five of its models in the top ten best selling models in June, although its successful model Swift has been displaced from the third position by rival Hyundai's Grand i10.

Stock Cash Market Update By MarketMagnify

ICICI Bank, ITC, Adani Ports, Bharti Airtel and Tata Steel are top gainers while ONGC, Bajaj Auto and Wipro are losers in the Sensex. For more update visit www.marketmagnify.com/stock-future-tips.php

     The Indian rupee opened lower by 6 paise at 67.33 per dollar against previous close 67.27.

  HSBC has raised its rating on India to ‘overweight’ from the earlier ‘neutral’ and upped its Sensex target to 28,500 from 26,000 for this year-end. Domestic market is picking up in India and earnings expectations of 12 percent are more realistic, says Herald Van Der Linde of HSBC.

     Motilal Oswal has upgraded M&M to buy from neutral with a target of Rs 1724 per share, indicating an 18 percent upside. Betting big on strong earnings cycle ahead the brokerage firm is confident that monsoon and recent launches will drive its growth.

    The boards of Jaiprakash Associates and UltraTech Cement on Monday agreed on the long due agreement regarding the sale of JP's cement business to the latter. The total deal size of Rs 16,189 crore, agreed upon now is slightly more that Rs 15,900 crore pegged in the March agreement.

    Auto major Mahindra & Mahindra today reported an 8 percent rise in total sales to 39,011 units in June. The company had sold 36,134 units in the same month last year.

    Adani Ports may see a good breakout after a consolidation and can climb to around Rs 226. Keep stop loss of Rs 207.
     Sun Pharma is in a pause mode before a climb to around Rs 790. Keep a stop loss at Rs 760.