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Wholesale inflation rose to a four-month high of 3.24 per cent in August as prices of food articles, led by onions and vegetables, soared.
Inflation based on the wholesale price index (WPI) was 1.88 per cent in July 2017 and 1.09 per cent in August 2016.
Stocks in financial and infrastructure space will outperform, says Amit Jeswani, founder of Stallion Asset.
“The theme going forward will be financialisation of savings as a lot of IPOs of insurance and asset management companies are on the anvil,” Jeswani said. He is also bullish on road developers as they stand to gain from government’s focus on infrastructure.
Shares of the Punjab-based drugmaker fell nearly 10 percent to Rs 216.85, the most in seven months after its net loss widened more than twice, year-on-year in the quarter ended June.
The company's loss in the first quarter of current financial year stood at Rs 47.99 crore compared with loss of Rs 20.49 crore, during the same period last year.
Shares of the heavy electrical equipment maker rose as much as 10.16 percent, the most in over a year to Rs 145.80. Japan’s Prime Minister Shinzo Abe while laying the foundation stone of Mumbai-Ahmedabad bullet train said BHEL and Kawasaki Heavy will make rolling stock for bullet train.
BHEL has tied-up with Kawasaki to make rolling stock of bullet train, according to a Bloomberg report.
Shares of the Bangalore-based IT company fell as much as 5 percent, the most in over 10 months, to Rs 281.20 ahead of share buyback.
The stock had hit a fresh 52-week high of Rs 303.55 on September 11 and has since then fallen 7.2 percent.
PM Modi and Japanese PM Abe lay foundation stone for Mumbai- Ahmedabad #BulletTrain.
— BloombergQuint (@BloombergQuint) September 14, 2017
(Image Courtesy: ANI) pic.twitter.com/Eloorh2GjF
HEG Ltd rose as much as 7.9 percent and Graphite India advanced as much as 5.3 percent after the international brokerage Jefferies initiated coverage on both the stocks with a 'Buy'
Jefferies On Graphite India
Jefferies on HEG
Shares of the state-run oil marketing companies rose after the government ruled out interfering in daily revision of petrol and diesel prices done by the oil marketing companies.
"The government has no business to interfere in day to day operations of oil companies," Oil Minister Dharmendra Pradhan said.
#BQMoney | Rupee may trade in a range of 63.85 - 64.25 against the U.S. dollar, says Emkay's Viraj Desai.https://t.co/SetMl9Qj3U pic.twitter.com/1ScZxDCDX6
— BloombergQuint (@BloombergQuint) September 14, 2017
ISMT (Q1FY18, YoY)
Sandur Manganese (Q1FY18, YoY)
WPIL (Q1FY18, YoY)
Walchandnagar Industries (Q1FY18, YoY)
CMI (Q1FY18, YoY)
Kopran (Q1FY18, YoY)
Lovable Lingerie (Q1FY18, YoY)
Minda Corp (Q1FY18 YoY)
Here's a line up of all the major corporate/investor meetings over the next few days.https://t.co/11uUwSifma pic.twitter.com/fNLSIOuYXJ
— BloombergQuint (@BloombergQuint) September 14, 2017
Credit Suisse on Sun Pharma
CLSA on Apollo Hospitals
Citi on L&T
Deutsche Bank on Axis Bank
Deutsche Bank on Jubilant Food
For a more complete list of stocks to watch, click here
Government of India now makes over twice of what it did 3 years ago from the sale of a litre of petrol.https://t.co/8gvuSE82zn pic.twitter.com/1jiYdtteou
— BloombergQuint (@BloombergQuint) September 14, 2017
Asia’s foreign reserves have never been stronger.https://t.co/B2KHMoJ1ux pic.twitter.com/OVZdM0qBok
— BloombergQuint (@BloombergQuint) September 14, 2017
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