Indian Stock Market News

Infosys, Adani Ports, M&M, Tata Steel and Wipro are top gainers while Axis Bank, Bajaj Auto, Bharti Airtel, ITC and Hero MotoCorp. For more information visit 

www.marketmagnify.com/stock-cash-tips.php

       The market has opened flat on Thursday. The Nifty is below 8200, down 0.95 points at 8179 and the Sensex is up 6.33 points at 26720.26. About 415 shares have advanced, 305 shares declined, and 37 shares are unchanged.
     The Indian rupee opened marginally higher at 67.42 per dollar versus 67.45 Wednesday.
       Asian shares were steady on Thursday as Wall Street eked out modest gains after the latest batch of US data provided few clues on when the Federal Reserve might raise rates, while a resurgent yen pressured equity markets in Japan.
         Ajanta Pharma looks good and can climb to levels closer to Rs 1,590-1,600 zone. It may take a day or two for that, keep a stop loss below Rs 1,520.

          Bharti Airtel too has given a breakout and it is holding out. It can climb to levels closer to Rs 375, keep stop loss below Rs 357.

           Tata Sponge Iron is trying to build up energy; it is trying to form a bace. It has given indication that it might go up today. The stock can climb to levels closer to Rs 640, keep stop loss below Rs 596."
           Share of South Indian Bank advanced 2.4 percent intraday Thursday as the bank has decided to raise Rs 500 crore via issue of bonds.

Live Stock Market News

The market erased its early gains on the back of profit booking after rising consistently for five consecutive sessions. The Sensex fell 70.32 points to 26655.28 and the Nifty slipped 21 points to 8157.50. For more information www.marketmagnify.com/stock-cash-tips.php

The broader markets also turned lower with the BSE Midcap and Smallcap indices falling 0.3-0.5 percent. 

     The market breadth was weak too as about two shares declined for every share rising on the Bombay Stock Exchange.
    Sun Pharma extended losses in morning trade, down 5 percent after its Q4 earnings fell short of expectations.
     Infosys, L&T, ICICI Bank, Bharti Airtel, Adani Ports, GAIL and Coal India declined 1-2 percent while Lupin, Maruti Suzuki and NTPC outperformed, up over a percent.
     Tata Motors jumped 7 percent on solid earnings performance in Q4.
     Sun Pharma 's net profit was Rs 1,713.7 crore in the fourth quarter of FY16, below CNBC-TV18's poll estimate of Rs 1,888.4 crore.

       Tata Motors today posted three-fold rise in its consolidated net profit at Rs 5,177.06 crore for the fourth quarter ended March 31, driven by strong performance of its British arm JLR and robust volume growth of its heavy and medium commercial vehicles.

Indian Stock Market News

Sun Pharma, Lupin, SBI, Axis Bank and Adani Ports are up while L&T, Bajaj Auto, ICICI Bank, Dr Reddy's Labs and HDFC Bank are losers in the Sensex. For more information visit www.marketmagnify.com/stock-cash-tips.php 

 Neyveli Lignite has long-term borrowings of Rs 7000 crore. Financing for the power station will come from cash reserves, says SK Acharya, chairman of Neyveli Lignite. 

Citigroup Global Markets Mauritius Private Limited sold 2,688,898 shares of Castrol India at Rs 375.70 per share on the NSE.

Analysts polled by CNBC-TV18 estimate that footfall growth may go higher by 23.5 percent at 15.05 million compared to 12.2 million (YoY). Footfall growth is likely to be aided by new screens. The company has added 25 Screens this quarter. 

Way2Wealth has come out with its report on currencies. According to the research firm, one can Sell USDINR below 67.10 for the target of 66.62 with a stop loss of 67.36 .

The US FDA has given an Establishment Inspection Report to Lupin's Mandideep facility which clears the unit of observations made earlier. 

 

According to Angel Broking, Rupee is likely to appreciate owing to positive trend seen in the Asian markets after Brent crude prices crossed $50 a barrel . Moreover, the Indian government has approved to launch capital goods policy to create demand and improve exports. 

Buy RIL, ITC, Motherson Sumi, Century Textiles: Rahul Mohindar. 

Equity benchmarks continued to see buying interest on first day of June series. The Nifty is inching towards 8150 level, up 55.65 points or 0.69 percent at 8125.30.

Today's Stocks In News

Share prices of Ujaas Energy rose 16 percent intraday Monday on the back of strong fourth quarter numbers declared by the company. For more information visit www.marketmagnify.com/stock-cash-power.php

The company's Q4 net profit was up 76.9 percent at Rs 13.8 crore versus Rs 7.8 crore, in the same quarter last fiscal.

           The total income of the company has increased by 234 percent at Rs 167 crore versus Rs 50 crore. The EBITDA was up at Rs 30 crore versus Rs 15.9 crore, while EBITDA margin was down 1380 bps at 18 percent versus 31.8 percent.

         The company has approved the fund raising through FPO/ADR/GDR/QIP in its meeting held on May 21, 2016.
Equity benchmarks rebounded sharply on Monday morning with the Sensex rising 180.90 points to 25482.80. 

     The Nifty reclaimed 7800 level, up 64.25 points or 0.83 percent at 7813.95.

       ITC topped buying list on Sensex, up more than 6 percent after brokerages turned upbeat on the stock post quarterly earnings. Citi has upgraded the stock to buy from neutral and raised target price to Rs 390 from Rs 335.

          Tata Power gained 1.5 percent ahead of March quarter earnings. Adani Ports, ICICI Bank, HUL, SBI, Hindalco and Aurobindo Pharma were other early gainers while HDFC, Lupin, NTPC and GAIL were losers.

       The Indian rupee gained in the early trade today. It has opened higher by 14 paise at 67.30 per dollar against 67.44 Friday.