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Shares of the automaker extended gains for the second straight trading session and rose as much as 3.7 percent to Rs 306.70.
The company’s luxury car unit – Jaguar Land Rover sold 48,281 units in May, an increase of 6.1 percent from the year ago month, according to its stock exchange notification.
The stock declined 29.6 percent so far this year, compared to 4.9 percent in the country's benchmark Sensex.
“Traders should not short sell the NSE Nifty 50 Index as it is forming strong support around 10,500-10,600 levels,” Bloomberg reported quoting Angel Broking. The broking firm also advanced traders to focus on individual stocks, the report added.
Mandhana Retail Ventures Ltd. expects its operating margins to increase by 15-20 percent in the current financial year, its Chief Financial Officer Hemant Gupta told BloombergQuint in an interaction.
Key highlights from the conversation:
Sharda Cropchem
Redington India
Avanti Feeds
Himachal Futuristic Communications
Sterlite Technologies
NOCIL
VIP Industries
Adani Enterprises
Shares of the apparel manufacturer rose as much as 3.5 percent to Rs 936.80.
About 12.9 lakh shares changed hands in a block deal, according to Bloomberg data. Buyers and sellers were not known immediately.
Trading volume was 64 percent its 20-day average. The stock is 25 percent below the Bloomberg one-year consensus one-year price target.
Shares of the Mumbai-based steel producer extended gains for the second straight day and rose as much as 2 percent at a high of Rs 344.8.
Trading volume was 64 percent of the 20-day average, Bloomberg data showed. The stock returned 27 percent so far this year, compared to 7.6 percent decline in NSE Nifty Metal Index.
Shares of the Gujarat-based construction company extended gains for the second consecutive trading session and rose as much as 7.6 percent to Rs 127.80.
The company’s approved raising of fund up to Rs 3,000 crore via issue of securities, according to its stock exchange filing.
Trading volume of the stock was 3.3 times the 20-day average. The stock declined 17.7 percent so far this year and is 26 percent below its Bloomberg consensus one-year price target.
Fourteen local banks signed up for the India Trade Connect consortium, which hired the Bengaluru-based information technology company – Infosys Ltd. to develop a blockchain platform for loans that back trade transactions within India, Bloomberg reported, quoting Abhijit Singh, head of technology at ICICI Bank Ltd., one of the consortium’s founders. (more details here).
Shares of the carbon-black manufacturer rose as much as 12.9 percent, the most in five months to Rs 246.
Trading volume was 11.1 times the 20-day average, according to Bloomberg data. The stock gained 22 percent so far this year compared to 3.9 percent advance in Sensex. Philips Carbon trades at 90.4 times trailing 12-month earnings per share.
The small- and mid-cap stocks continue to be more expensive than their large cap peers, despite the recent correction, said Gautam Chhaochharia, head of India research at UBS Securities. "More than 60 percent of listed mid-cap and small-cap stocks down 20 percent from their peaks." (click here to read more).
Commercial printing services provider Repro India Ltd. expects its operating margins to touch 12-15 percent going forward, its Executive Director Pramod Khera told BloombergQuint in an interaction.
Key highlights from the conversation:
Ambit Capital expects private which has strong CASA levels to lead the growth, its Head of Institutional Equities, Pramod Gubbi told BloombergQuint in an interaction.
Key highlights from the conversation:
Shares of retail chain operator fell as much as 3.6 percent to Rs 551.20.
About 29.8 lakh shares or 5.9 percent equity changed hands in five block deals, according to Bloomberg data. Buyers and sellers were not known immediately.
Trading volume was 6.6 times its 20-day average, Bloomberg data showed. The stock returned 8.4 percent so far this year and advanced 49 percent in the past 12 months.
Belying the expectations of a majority of economists and analysts, the Monetary Policy Committee opted to hike the policy repo rate by 25 basis points to 6.25 percent in its June meet itself, rather than wait till August, writes Saugata Bhattacharya. (Click here to read more).
Here's a quick look at corporate insider trades reported on Wednesday.https://t.co/iFIbIlI3cL pic.twitter.com/71usAHAavX
— BloombergQuint (@BloombergQuint) June 7, 2018
Bonds are seen under pressure after India's central bank raised interest rates for the first time in over four years on Wednesday and probably kept the door open for another hike.
The six-member Monetary Policy Committee voted unanimously to increase the repurchase rate to 6.25 percent from 6 percent on Wednesday, as predicted by 14 of 44 economists in a Bloomberg survey.
The RBI kept its policy stance neutral, which suggested the move was probably a “dovish hike,” according to economists at Nomura Holdings Inc. With this, the RBI has joined peers in Indonesia, Turkey and Argentina in raising rates as policy tightening in the U.S. and a stronger dollar rattle broader emerging markets. The 10-year bond yield rose eight basis points on Wednesday to end at 7.92 percent.
Meanwhile, the rupee is seen drawing strength from the central bank's decision to raise rates as well as improved risk appetite globally. The dollar was trading slightly weaker overseas which should see the rupee open higher after ending at 66.96 per dollar on Wednesday. The implied opening from forwards suggests spot will start trading on Thursday around 66.9203.
Only intraday positions can be taken in stocks which are in F&O ban. There is a penalty in case of a rollover of these intraday positions.
Deutsche Bank on Tata Power
Goldman Sachs on Hindalco Industries
UBS on India Gas Utilities
Credit Suisse
Jefferies
Household inflation expectations shoot up in May.https://t.co/MOSWvMeTqb pic.twitter.com/kuLpU91RLh
— BloombergQuint (@BloombergQuint) June 7, 2018
India is set to limit sugar supply in the local market to prevent a fall in prices.https://t.co/M6UwWRSZzI pic.twitter.com/991UDuJoVA
— BloombergQuint (@BloombergQuint) June 7, 2018
There’s good news and bad news for shareholders of Electrosteel Steels, reports @YatinMota.https://t.co/mkZgjBncbj pic.twitter.com/G0yUrfbkwO
— BloombergQuint (@BloombergQuint) June 7, 2018
IOC cuts fuel prices for the 9th straight day. ⛽️https://t.co/M5uaKNHK2y pic.twitter.com/3u4RK38nJK
— BloombergQuint (@BloombergQuint) June 7, 2018
Here are some key events coming up this week:
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