Nifty outlook and top stock recos from Prabhudas Lilladher for today

STOCK MARKET - Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW
Market was trading almost flat throughout the session and the last final hour saw some profit booking to see the indices Nifty and Sensex to close in the mild red erasing the early gains. The support for the day is seen at 10,380 while resistance is seen at 10,500.

LIC HOUSING FINANCE – BUY
CMP: Rs 569.50  
STOP LOSS: Rs 540      
TARGET: Rs 600
The stock has made a good correction from around 675 price to consolidate near the 536 levels which is forming a good support level. The stock has made a good recovery with huge volume participation and with RSI indicator on the rise, we recommend this stock for a Buy keeping a stop loss of 540 for an upside target of 600

SADBHAV INFRA - BUY
CMP: Rs 145.05      
STOP LOSS: Rs 135    
TARGET: Rs 160
The stock after making a higher bottom formation has recovered to bounce back to its previous peak level of around 150 and is on the verge of a breakout with increasing volume participation. Also with the positive RSI indicator supporting the upward move, we recommend to Buy this stock for an upside target of 160 keeping a stop loss of 135.

LARSEN & TOUBRO – BUY
CMP: Rs 1,230.15          
STOP LOSS: Rs 1,175  
TARGET: Rs 1,350
The stock has been consolidating for some time at around 1180 to 1220  levels and now it has given a spurt with a positive candle pattern accompanied with good volume. The RSI indicator has been on the rise, we recommend a buy in this stock for an upside target of 1350 keeping a stop loss of 1175

Here's what Modi govt can do to avoid rural Gujarat-like drubbing in 2019

A big takeaway of the 2017 Gujarat state polls has been BJP's inability to hold on its rural seats in some parts of the state, though this hasn't been a uniform trend everywhere, general perception and ground reports do indicate that rural voters haven't been particularly kind to the party.

However, critics of this theory argue that if that was the case then BJP would have lost all the rural seats in the state, which also points to the fact that a particular community of farmers might have felt aggrieved with the party.

Nonetheless, agriculture in Gujarat hasn't been doing particularly well, mainly in the last few years.

Data sourced from the NITI Aayog website shows that in 2014-15 and 2015-16, the Gross State Value Added of agriculture, forestry and fishing dipped to a negative 0.48 per cent and 1.28 per cent, respectively.

This fall, though against the backdrop of over 26 per cent growth in 2013-14 and also two back-to-back droughts, indicated that the state's superlative performance in agriculture was showing signs of wearing off.

On top of that, the sharp fall in prices of main commercial crops in just concluded kharif harvest season and even before that aggravated the distress.

The prices of major commercial crops, particularly groundnut and cotton, have dropped below their state-fixed minimum support price (MSP) – the average mandi price of groundnut seed this month was around Rs 3,800 a quintal, as against the MSP of Rs 4,450, while cottonseed prices were also below the MSP of long staple cotton Rs 4,320 per quintal and also that of MSP of medium staple cotton Rs 4,020.
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Lucknow-Agra Expressway: Over 10 cars pile up in dense fog, dozen injured

At least a dozen people were injured after dense fog led to the collision of several vehicles on the busy Lucknow-Agra Expressway here this morning, police said today.

Reduced visibility due to dense fog was stated to be the reason behind the accident, police said.

"Pile-up of around a dozen vehicles took place early this morning on the Agra-Lucknow Expressway in Jogikot village under Bangarmau police station," said Additional Superintendent of Police Ambrish Bhadauria.

Around a dozen people have sustained injuries in the accident, he added.

"The injured persons were administered first aid at the community health centre in Bangarmau, and were subsequently sent home," he informed.
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Kridhan Infra soars 17% on FPI buying

STOCK MARKET - Kridhan Infra soared 17% to Rs 117 on the BSE in noon deal after the foreign portfolio investor (FPI) bought the stake in the company through open market.

The trading volumes on the counter more than doubled with a combined 6.24 million shares changed hands on the BSE and NSE till 12:17 PM.

On Monday, December 18, 2017, Government of Singapore acquired 895,058 equity shares representing or 1.2% stake in Kridhan Infra at price of Rs 92 per share on the BSE, bulk deal data shows.

Mustray Impex and Services Private Limited had sold more than half or 2 million shares (2.7% stake) in the construction & engineering company at Rs 92.21 per share, data shows.

According to shareholding pattern as of September 30, 2017, Mustray Impex and Services Private Limited held 3 million shares or 4.05% stake in the company.

The name of the other buyers not immediately ascertained.

Kridhan Infra sees significant revenue increase of over two times and maintaining 13%-14% Ebitda (earnings before interest, taxes, depreciation and amortization) margin in FY19.

India EPC business to contribute more than 50% of the FY19 revenue, also from Vijay Nirman Construction Company (VNC), which have strong order book of over Rs 2,600 crore. The significant pick-up in Singapore EPC business as Swee Hong bids for new projects, the company said in investor presentation.

BSE Smallcap index hits new high; 183 stocks zoom over 100% in CY17

STOCK MARKET - The S&P BSE Smallcap index hit a new high of 18,441.54 on the BSE in intra-day on Tuesday, after strong rally in consumer electronics, infrastructure, auto ancillary, iron & steel products, textiles and sugar sector stocks.

The index surpassed its previous high of 18,411.37 touched on December 1, 2017 in intra-day trade.

Godwari Power & Ispat, Indo Rama Synthetics (India), BPL, Bharat Wire Ropes, Ucal Fuel Systems, MIRC Electronics, Atlanta, Waterbase, Precision Wires India and Gufic Biosciences were up more than 5% on the BSE.

At 09:57 AM; the S&P BSE Smallcap index, the largest gainer among broader indices, was up 1% at 18,440, as compared to 0.73% rise in the S&P BSE Midcap and 0.31% gain in the benchmark S&P BSE Sensex.

Thus far in the calendar year 2017 (CY17), the smallcap index has rallied 53% against 43% surge in midcap index and 27% rise in Sensex.

Around 183 stocks from the smallcap index have seen its market value more than doubled in CY17. While another 157 stocks have outperformed the index by gaining between 54% and 99% during the period.

Among the individual stocks, BPL soared 14% to Rs 116 today extending its 36% surge in past eight trading sessions post September quarter results (Q2FY18). The consumer electronics company reported net profit of Rs 16 crore in Q2FY18, which include one-time profit of Rs 14 crore on disposal of non-core assets of the company. It had profit of Rs 1 crore in Q2FY17.

Gufic Biosciences too surged 14% to Rs 126, also its all-time high on the BSE. The stock appreciated 29% in past three trading sessions from Rs 98, after the pharmaceutical company reported more than doubled net profit at Rs 5.67 crore in Q2FY18. It had profit of Rs 2.65 crore in year ago 

Buy TCS, Beger Paints, Cadila Healthcare, says Prabhudas Lilladher

STOCK MARKET - Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW:
The day began with a negative sense with Nifty making a low of 10,075 and immediately bounced back to confirm a double bottom formation at 10,080 levels and bounced back to 10,400 levels. The support for the day is seen at 10,330 while resistance is seen at 10,430.

BUY TCS
CMP: Rs 2580.50            
STOPLOSS: Rs 2400              
TARGET: Rs 2800
The stock has corrected from Rs 2777.40 levels in the recent past days and has maintained near its 200-DMA which is around Rs 2494. The positive candle pattern has indicated a Buy and we anticipate the stock to move up further till Rs 2800 levels. We recommend a buy in this stock keeping a stop loss of Rs 2400 and a target of Rs 2800.

BUY CADILA HEALTHCARE
CMP: Rs 417.15          
STOPLOSS: Rs 400
TARGET: Rs 450
The stock has made a bottom at around Rs 400 and has made a good recovery. With RSI on the rise, the stock looks promising for un upside target of around Rs 450. We recommend a buy in this stock keeping a stop loss of Rs 400.

BUY BERGER PAINTS
CMP: Rs 252.55        
STOPLOSS: Rs 240
TARGET: Rs 265
The stock has been consolidating for a while hovering around the range of Rs 245-255 levels and has maintained a good support at around Rs 240. The stock has been in a trending upward move in the daily chart and while the RSI indicator has reversed its trend signaling a positive outlook, we recommend a buy in this stock for an upside target of Rs 265 keeping a stop loss of Rs 240.

LIVE updates: BJP to retain Gujarat, dethrone Congress in Himachal Pradesh

Gujarat election Results - The BJP is leading in 107 seats, while the Congress nominees are ahead in 74 of Gujarat's 182 seats, show the latest trends. Chief Minister Vijay Rupani, who earlier trailed behind his Congress rival Indranil Rajyaguru in early trends, has now taken an unassailable lead in the Rajkot West seat.

The elections for 182-seat Assembly were held on December 9 and 14, after an acrimonious campaign, which was dominated by a face-off between Prime Minister Narendra Modi and Congress president Rahul Gandhi. In the 2012 elections, the BJP had won 115 seats while the Congress emerged victorious on 61 seats. The BJP has been in power in the state since 1995, winning consecutive elections in the home state of Modi and BJP chief Amit Shah.

The BJP was set to wrest power in Himachal Pradesh with its candidates on a victory lap in 36 of the 68 seats in the Assembly elections on Monday. The party has won four of the seven declared seats as counting of ballots progressed. The ruling Congress managed to won only one seat, while one each went to an Independent and the Communist Party of India-Marxist (CPIM). The saffron party won its first seat by defeating Congress cabinet Minister Prakash Chaudhary from Balh in Mandi district with a big margin. BJP's Inder Singh Gandhi won this seat.

Likewise, BJP's Ravindra Dhiman defeated Congress' sitting legislator Yadvinder Goma from Jaisinghpur, Kishori Lal of the BJP defeated Bansi Lal of the Congress from the Anni seat. BJP's sitting legislator Suresh Bhardwaj retained his Shimla seat. He defeated Congress' Harbhajan Bhajji.

A total of 37,83,580 people voted in the hill state -- a record 75.28 per cent polling.

GUJARAT ELECTION RESULTS LIVE

Gujarat, Himachal election result LIVE: BJP leads; Rupani wins Rajkot West

Gujarat election Results - The BJP is leading in 95 seats while the Congress nominees are ahead in 68 seats, as per the latest trends available for 169 seats after two hours of counting for the Assembly polls in Gujarat. Election Commission figures show the NCP, the Bhartiya Tribal Party and an independent candidate are leading in five seats together. Chief Minister Vijay Rupani, who earlier trailed behind his Congress rival Indranil Rajyaguru after the counting of postal ballots, is now leading in Rajkot West seat. Rajyaguru secured 1,258 votes while Rupani got 491 votes after the end of first round of counting, as per election officials at the counting centre.

The elections for 182-seat Assembly were held on December 9 and 14, after an acrimonious campaign, which was dominated by a face-off between Prime Minister Narendra Modi and Congress president Rahul Gandhi. In the 2012 elections, the BJP had won 115 seats while the Congress emerged victorious on 61 seats. The BJP has been in power in the state since 1995, winning consecutive elections in the home state of Modi and BJP chief Amit Shah.

Bharatiya Janata Party (BJP) inched ahead of the ruling Congress on Monday as officials counted the votes polled in the Himachal Pradesh Assembly elections. Trends emerging from counting centres showed that BJP candidates were racing ahead in seven of the 68 seats while Congress nominees were in the lead in four.

The verdict will decide the fate of 337 candidates including Chief Ministerial nominees Virbhadra Singh (Congress) and Prem Kumar Dhumal (BJP). A total of 37,83,580 people voted in the hill state -- a record 75.28 per cent polling.

In Gujarat, while the Bharatiya Janata Party (BJP) is seeking a sixth straight term in office, the Congress is aiming to stage a comeback to power after being in the Opposition for over two decades. The counting of votes are being held at 37 centres across the state's 33 districts amid tight security.
GUJARAT ELECTION RESULT LIVE

Gujarat result LIVE: BJP ahead in 105 seats, Modi unlikely to get 150

Gujarat election result live - The BJP is leading in 56 seats and the Congress in 50, according to official trends available for Gujarat Assembly polls after one-and-a-half hour of counting. As per the Election Commission trends available for 109 seats, the BJP is ahead in 56 seats, while the Congress candidates have a slight edge over their BJP opponents in 50 constituencies. The NCP, Bhartiya Tribal Party and an independent are leading in a seat each. Gujarat Chief Minister and BJP leader Vijay Rupani was trailing behind Congress candidate Indranil Rajyaguru from Rajkot West, as per the initial trends. Rajyaguru secured 1,258 votes while Rupani got 491 votes after the end of first round of counting, as per election officials at the counting centre.

The elections for 182-seat Assembly were held on December 9 and 14, after an acrimonious campaign, which was dominated by a face-off between Prime Minister Narendra Modi and Congress president Rahul Gandhi. In the 2012 elections, the BJP had won 115 seats while the Congress emerged victorious on 61 seats. The BJP has been in power in the state since 1995, winning consecutive elections in the home state of Modi and BJP chief Amit Shah.

Bharatiya Janata Party (BJP) inched ahead of the ruling Congress on Monday as officials counted the votes polled in the Himachal Pradesh Assembly elections. Trends emerging from counting centres showed that BJP candidates were racing ahead in seven of the 68 seats while Congress nominees were in the lead in four.

GET LIVE UPDATES ON GUJARAT ELECTION RESULT

Gujarat result LIVE: BJP ahead in 24 seats, Congress in 21; market crashes

Gujarat election result live - The ruling BJP is leading in over 12 seats while its prime rival Congress was ahead on eight seats, as early trends of Assembly polls started pouring in from across Gujarat.

As per the trends available in the first 45 minutes of counting, the BJP is ahead on 12 seats, while the Congress candidates have a slight edge over their BJP opponents in eight constituencies. The 182 constituencies in the Gujarat Assembly had gone to the polls in two phases – on December 9 and 14. The electors in Himachal Pradesh’s 68 seats had voted to elect their legislators for their respective constituencies on November 9.

The Gujarat election 2017 is seen as a prestige battle for Prime Minister Narendra Modi, whose Bharatiya Janata Party (BJP) has been ruling his home state for over two decades. It is also considered a litmus test for Rahul Gandhi, the newly elected president of the Congress party.

Bharatiya Janata Party (BJP) inched ahead of the ruling Congress on Monday as officials counted the votes polled in the Himachal Pradesh Assembly elections. Trends emerging from counting centres showed that BJP candidates were racing ahead in seven of the 68 seats while Congress nominees were in the lead in four.

The verdict will decide the fate of 337 candidates including Chief Ministerial nominees Virbhadra Singh (Congress) and Prem Kumar Dhumal (BJP). A total of 37,83,580 people voted in the hill state -- a record 75.28 per cent polling.

In Gujarat, while the Bharatiya Janata Party (BJP) is seeking a sixth straight term in office, the Congress is aiming to stage a comeback to power after being in the Opposition for over two decades. The counting of votes are being held at 37 centres across the state's 33 districts amid tight security.

GET LIVE UPDATES ON GUJARAT ELECTION RESULTS

LIVE updates: BJP takes lead in Gujarat, Himachal polls; Modi magic intact

Gujarat election Results - Counting of votes for Gujarat and Himachal Pradesh Assembly elections has started. The result will be announced today itself. The 182 constituencies in the Gujarat Assembly had gone to the polls in two phases – on December 9 and 14. The electors in Himachal Pradesh’s 68 seats had voted to elect their legislators for their respective constituencies on November 9.

The Gujarat election 2017 is seen as a prestige battle for Prime Minister Narendra Modi, whose Bharatiya Janata Party (BJP) has been ruling his home state for over two decades. It is also considered a litmus test for Rahul Gandhi, the newly elected president of the Congress party.

In Gujarat, while the Bharatiya Janata Party (BJP) is seeking a sixth straight term in office, the Congress is aiming to stage a comeback to power after being in the Opposition for over two decades. The counting of votes are being held at 37 centres across the state's 33 districts amid tight security.

In Himachal Pradesh, the fate of 337 candidates, including Chief Minister Virbhadra Singh and his predecessor Prem Kumar Dhumal, will be known on Monday as counting of votes is taken up in the state, where traditional rivals BJP and Congress have both contested in all 68 seats.

The hill state witnessed a record 75.28 per cent turnout and pollsters have predicted a landslide BJP victory.

Gujarat election result live

FB launches 'click-to-WhatsApp' feature for businesses to reach users

If you are an advertiser on Facebook, you now have a bigger audience to cater to as Facebook has launched a click-to-WhatsApp button on its platform that will let advertisers connect with over one billion WhatsApp users.

Facebook that has over two billion users confirmed this to TechCrunch on Friday that it is rolling out the feature gradually, starting with North and South America, Africa, Australia and most of Asia.

"Many people already use WhatsApp to communicate with small businesses. It's a fast, convenient way to stay in touch," Pancham Gajjar, Product Marketing Manager, Facebook, was quoted as saying.

"By adding a click-to-WhatsApp button to Facebook ads, businesses can now make it even easier for people to learn about their products, set up an appointment or use their service," he added.

Facebook said that over a million Pages currently include WhatsApp numbers in their posts.

To make the new feature work, reported Adweek, businesses that have WhatsApp numbers can add 'send message' buttons with the WhatsApp logo to their Facebook ads and those ads will only be delivered to users who have WhatsApp installed on their smartphones.

People must add businesses' WhatsApp numbers to their contacts to initiate conversations.

Once they do it, the messaging app opens with a default message expressing interest, which can be edited by users before being sent.

The feature is similar to the click-to-Messenger button that Facebook introduced in its ads in November last year.

The click-to-Messenger ads debuted on Instagram in May this year.

Facebook said that over a million Facebook pages currently include WhatsApp numbers in their posts.

To make the new feature work, businesses that have WhatsApp numbers can add 'send message' buttons with the WhatsApp logo to their Facebook ads and those ads will only be delivered to Facebook users who have WhatsApp installed on their phones.

Google's X Labs to share FSOC technology for Andhra's fiber grid

In a first, X Development LLC, a subsidiary of Google's parent company Alphabet Inc, will supply and deploy two thousand cutting-edge Free Space Optical Communication (FSOC) links for Andhra Pradesh (AP) fiber-grid.

FSFC is an optical communication technology that uses light to wirelessly transmit data to telecommunication and internet applications. The technology remained outside the commercial applications for long owing to distance, speed, and efficiency related problems, which are a thing of past going by the specs of SPOC links being offered to AP government.

Known for its work on the development of Google's driverless car, X Labs is going to implement FSOC technology that can provide wireless internet connectivity with as much as 20-gigabit speed and to a distance of up to 20 km, in the state.

A delegation headed by AP IT minister Nara Lokesh entered into an agreement with X Labs CEO Astro Teller for this collaboration at the latter's headquarters in Mountainview in California late on Friday, after months of testing the suitability of this technology for AP fiber grid.

AP executed this 3-in-1 (phone, internet, and television) connectivity project entirely using the electric poles, stringing 24,000 km of overhead fiber cable, and is expected to cover 85 per cent of the households in the state. The government proposes to use FSOC technology to connect the remaining areas that are cut-off by difficult terrain, forest areas, river crossings, railway crossings etc. besides increasing the network reliability.

Mahindra & Mahindra hits fresh 52-week high

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Mahindra & Mahindra (M&M) hit a fresh 52-week high of Rs 1,480, up 3.3% on the BSE in noon deal trade, after the company announced that it plans to increase prices of its passenger and commercial vehicles by up to 3% with effect from January 1, 2018. The stock was the top gainer among the S&P BSE Sensex at 12:16 PM.

“We have been holding back on price hikes and absorbing the higher input costs for a while, but with the increase in commodity prices we will have to take a price increase,” Rajan Wadhera, President - Automotive Sector, M&M said on the price hike.

Meanwhile, the stock will turn ex-bonus on Thursday, December 21, 2017 in the proportion of 1:1, i.e. 1 bonus equity share for every 1 share held as on record date.

M&M has fixed December 23, 2017 as the record date for the purpose of determining members who would be entitled to the bonus equity shares.

The STOCK MARKET has outperformed the market by gaining 11% after the company on November 5 said that its board will consider bonus issue. On comparison, the S&P BSE Sensex was down 0.47% during the same period.

HDFC Bank hits new high on fund raising plans

STOCK MARKET - HDFC Bank hit a new high of Rs 1,887, up 2.7% on the BSE, after the private sector lender announced that its board will meet on Wednesday, December 20, 2017 to consider a proposal for raising of funds.

The stock surpassed its previous high of Rs 1,876.95 touched on October 24, 2017 in intra-day trade.

A meeting of the board of directors of the Bank will be held on 20th December, 2017 to inter alia consider a proposal for raising of funds by issue of equity shares/ depository receipts and other securities including through Qualified Institutions Placement (QIP)/ American Depository Receipts (ADRs) program, preferential allotment or such other methods or combinations as may be decided, as well as a preferential issue to Housing Development Finance Corporation (HDFC), the promoter of the bank, HDFC Bank said in a regulatory filing.

The raising of funds subject to such regulatory/ statutory approvals as may be required, including approval of shareholders of the Bank, if required, it added.

Earlier in February 2015, HDFC Bank had raised nearly Rs 9,800 crore through a combination of foreign and domestic offerings. The bank raised about Rs 7,800 crore through an American depositary receipt (ADR). It also sold about 18.7 million new shares in the domestic market at Rs 1,067 per share, aggregating to Rs 1,985 crore through a QIP offering.

Nifty outlook and few trading ideas by Prabhudas Lilladher

STOCK MARKET - Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

NIFTY VIEW:
Markets witnessed a volatile session to see a dip midway by way of profit booking activity but finally in the last leg of the session saw short covering to close on the positive side. The support for the day is seen at 10180 while resistance is seen at 10320.

BUY MAH INDRA& MAHINDRA
CMP: Rs 1,431.60
TARGET: Rs 1,510    
STOP LOSS: Rs 1,380
The stock has been moving in an upward trend with a series of higher bottom formation pattern in the daily chart and technically is poised for further gains in the coming days. With the indicators looking favourable thus supporting our view of a positive bias,  we anticipate a price rise in the stock and with decent volume participation witnessed,  we recommend a buy in this stock for an upside target 1510 of keeping a stop loss of 1380

BUY L&T FINANCE HOLDINGS
CMP: Rs 163.75    
TARGET: Rs 180    
STOP LOSS: Rs 150
The stock has witnessed a decent correction in the recent past and we anticipate a bottom formation has been maintained at current levels. We expect a rise from here on to scale till 180 levels with potential. With good volume activity seen, Disclaimer: The analyst may have positions in any or all the stocks mentioned above, we recommend a buy in this stock for an upside target of 180 keeping a stop loss of 152

AI flight with aviation minister onboard delayed by 1.3 hours, 3 suspended

Three staff members were suspended and a warning letter was issued to the pilot of Air India after they reached late for their duty and delayed a flight by one-and-half hours with over 100 passengers onboard, including Minister of Civil Aviation P Ashok Gajapathi Raju, who faced the heat of the agitated passengers.

The incident came to light on Wednesday when the Air India flight from Delhi to Vijaywada was late by around 1.30 hours.

"The flight was scheduled at 6 a.m. from Delhi but after getting delayed for around 1.30 hrs it finally took off for Vijaywada. Air India took action against the three staffers who have been suspended and a warning letter has been issued to the captain for reaching the airport late," Air India Spokesperson GP Rao said while confirming the incident.

According to the Air India sources, the pilots had reported late for the duty leaving the waiting passengers furious.

The passengers then reached co-passenger Aviation Minister Raju, who was sitting in the business class section and was on his way to Vijaywada, asking him about the delay.

Raju immediately contacted the airlines security and asked the newly appointed Air India Chairman and Managing Director Pradeep Singh Kharola the reason behind the delay, after which appropriate actions were taken.

Gujarat polls: BJP might get a rude shock, says Yogendra Yadav

The ruling Bharatiya Janata Party (BJP) could be in for a rude shock in the Gujarat Assembly elections, said noted political scientist Yogendra Yadav on Wednesday — a day before the last phase of voting in the state.

“There was a sharp swing against the BJP in the past few weeks,” and he said, adding: “Unless the trend is dramatically reversed, surveys lead to the same conclusion — defeat for the BJP.”

Yadav, a leader of the political organisation Swaraj Abhiyan with nearly two decades of experience as a psephologist, had based his projections on the data collected in three surveys since August by CSDS-ABP. He said the results if the Gujarat polls could be subdivided between urban, semi-urban, and rural areas.

Polling will be held for 93 seats on Thursday. The first phase of polling was held on December 9 for 89 of the 182 seats in the Assembly. The counting of votes is on December 18. Exit polls will be in after voting ends.

In a tweet, Yadav said the BJP was “on a solid wicket” in the 39 urban seats. “It can’t lose more than 10 seats [in urban areas].” In semi-urban areas, where it now has 36 seats, it might lose half.

Yadav forecast that the BJP faced a “steady downhill” in the 98 rural seats, where it had trailed the Congress in 2012 Assembly polls, and could now face a rout.

Videocon, Jaypee dip even as lenders keep them out of insolvency process

STOCK MARKET of Videocon and Jaiprakash Associates shed up to 5% on the BSE even as lenders decided to keep Videocon Industries, and Jaiprakash Associates out of the insolvency process as these companies are in advanced stage of debt resolution.

Videocon hit its lower circuit of Rs 16.70, down 4.84%, while Jaiprakash Associates dipped nearly 2% to Rs 17.65 on the BSE.

A senior official of a public sector bank said Videocon Industries was not taken to the NCLT because it was close to the resolution of its  Rs 21,500-crore debt and because it had sold its Kenstar brand and corporate headquarters to repay loans. As per Videocon officials, its debt worth Rs 23,000 crore is housed with its oil subsidiary - Videocon Hydrocarban which has not defaulted on its loans.

Videocon was among the 28 companies which were in the Reserve Bank of India's second list of defaulters and lenders were asked by the regulator to resolve these cases by Friday.

Tech Mahindra hits 52-week high in weak market

STOCK MARKET - Tech Mahindra hit a 52-week high of Rs 517 on the BSE in intra-day trade in an otherwise weak market. In past seven trading sessions, the stock of IT consulting & software firm outperformed the market by gaining 11% from Rs 466 on December 5, after Tech Mahindra announced to hold analyst meet on December 8 to make presentations on the Company’s strategy and provide business updates. On comparison, the S&P BSE Sensex was up 0.42% during the same period.

At its analyst meet, Tech Mahindra reiterated that it is focused to drive stronger growth in the Enterprise segment (56.3% of revenue). Also, it expects the communications segment to come back to growth in FY19. It confirmed that it has the strategy and senior management in place and now is focused for execution, analyst at IDBI Capital said in management visit note.

Tech Mahindra articulated its ‘343’ business strategy which focuses on 3 Mega Trends, 4 Big Bets it has taken to cater to these trends and 3 Objectives to achieve the same. This strategy is in place for both the Enterprise and Communications segment, the brokerage firm said in a note with ‘hold’ rating on the stock.

JP Morgan have ‘Neutral’ rating on Tech Mahindra as it believe the company needs to better balance growth with profitability. Its margin performance needs to improve further, even though we are gratified to see the improvement in 2Q FY18.

“On the plus side, Tech Mahindra’s enterprise business (around 53% of FY17 revenues) is on a reasonably solid growth track. Thanks to the impetus to growth from this segment we think Tech Mahindra can register industry-average revenue growth in FY18. More than revenue growth, margin improvement is necessary to regain investor confidence and prompt a P/E re-rating, in our view,” JP Morgan said in a recent report after analyst meet.

150 seats in Gujarat for BJP can take Nifty to 10,700 levels, say analysts

STOCK MARKET are likely to remain choppy over the next two trading sessions as they react to the exit poll outcome (Friday) and the counting of votes (Monday) for the recently held assembly elections in Himachal Pradesh and Gujarat.

After a stellar rise of around 26% thus far in calendar year 2017 (CY17), the benchmark indices - S&P BSE Sensex and the Nifty 50 - have remained flat with a marginal fall of 0.22% each in December.

Going into the state election results, opinion polls suggested that the Narendra Modi - led Bharatiya Janata Party (BJP) will wrest control from the Indian National Congress (INC) in Himachal Pradesh (HP) and will retain Gujarat, although with fewer seats than in 2012.

The outcome of the state elections, experts say, is likely to be viewed as a referendum on Prime Minister Modi's performance, especially the implementation of goods and services tax (GST) bill and could have an impact on future economic policy decisions.

"The base-case scenario is that the BJP will win in Gujarat, albeit marginally. Anything dramatic will see the markets sway sharply on either side. Traders have taken positions (both long and short), which will need to be covered. As a result, the index movement will get magnified," says U R Bhat, managing director, Dalton Capital Advisors.

Hotels can charge you more than MRP for bottled water: What you should know

Can a hotel or a restaurant charge for a bottle of drinking water more than the maximum retail price marked on the container? The answer is yes. In a major blow to consumers, the Supreme Court on Tuesday held that hotels and restaurants are not bound by the maximum retail price (MRP) when they sell bottled mineral water and packaged food items.

The court rejected the government’s argument that overcharging for pre-packed or packaged products was an offence under the Legal Metrology Act, which attracts a fine of Rs 25,000 or a jail term, according to ET.

A bench headed by Justice Rohinton Nariman said the provisions of the law will not apply to hotels and restaurants, and these establishments cannot be prosecuted for selling such items above the MRP.

“It is not a case of simple sale. Nobody goes to a hotel to buy or take away a bottle of mineral water,” the bench observed, hearing a petition by the Hotels and Restaurant Association of India.

Earlier, in its affidavit in response to a petition filed by the Federation of Hotel and Restaurant Associations of India (FHRAI), the Ministry of Consumer Affairs said that overcharging for pre-packed or prepackaged products was an offence under the Legal Metrology Act.

“Sale of packaged water over MRP by hotels and restaurants may have implications regarding tax evasion as a bottle purchased by a hotel at cost price, which should be sold at MRP or less, is being sold at much higher prices, leading to possible loss of additional revenue to the government in the form of service tax or excise duty etc.,” the government had said.

Parliament attack ceremony: A day after war of words, Modi & Manmohan meet

Days after their bitter war of words over a meeting with Pakistani officials, Prime Minister Narendra Modi and his predecessor Manmohan Singh greeted each other and shook hands on Wednesday at an event here to pay homage to the victims of the 2001 Parliament attack.

Also present were Congress President-elect Rahul Gandhi and party chief Sonia Gandhi, who too met and greeted Modi and other BJP leaders at the event in Parliament House.

A smiling Rahul Gandhi went ahead and met Union Ministers Ravi Shankar Prasad and Sushma Swaraj.

Vice President M. Venkaiah Naidu, Lok Sabha Speaker Sumitra Mahajan and Home Minister Rajnath Singh were also present at the occasion.

"We pay homage to those who laid down their lives protecting the temple of our democracy on December 13, 2001. Their sacrifices will never be forgotten," the Prime Minister tweeted after the event.

President Ram Nath Kovind also remembered those "martyred while defending Parliament from terrorists on this day 16 years ago".

"Forces of hate and terror targeted what we cherish most. India's democracy and democratic values. They did not succeed. And we will never let them succeed," Kovind said in his tweet.

On December 13, 2001, five heavily-armed gunmen stormed the Parliament complex indiscriminately firing and killing nine persons.

Those killed included five Delhi Police personnel, a woman Central Reserve Police Force (CRPF) officer, two Parliament watch and ward staff and a gardener.

A journalist, who was injured, died later. All five terrorists were shot dead.

A year later, four accused, including Afzal Guru, were arrested for the attack and found guilty after a trial. Guru was hanged on February 9, 2013.

Liquor stocks gain; GM Breweries, Associated Alcohols soar over 10%

Shares of liquor companies rallied up to 14% on BSE on Wednesday on the back of heavy volumes, extending their past two-and-half months rally after the company reported a good set of numbers for the quarter ended September (Q2FY18).

GM Breweries and Associated Alcohols & Breweries surged more than 10%, Som Distilleries, United Breweries, Global Spirits, IFB Agro Industries, Pincon Spirit and Empee Distilleries were up in the range of 2% to 10% on the BSE. By comparison, the S&P BSE Sensex was up 0.45% at 33,379 at 11:54 AM;

Thus far total 13 companies from the breweries & distilleries sector declared their Q2FY18 results, and doubled their aggregate net profit to Rs 322 crore. These companies had reported combined net profit of Rs 153 crore in the same quarter last fiscal year.

GM Breweries surged 14% to Rs 925, also its record high on the BSE in intra-day trade today. Since October 10, post Q2F18 results, the stock zoomed 64% from Rs 563 after the company posted 41% growth in net profit at Rs 15.73 crore.

United Spirits too outperformed the market by gaining 32% post Q2FY18 results since October 26. The stock hit a new high of Rs 3,470 in intra-day trade on Tuesday.

“Despite the implementation of Goods and Services Tax (GST) which has resulted in stranded taxes, the company has been able to deliver a robust underlying gross margin improvement in both the second quarter and first half, enabled it accelerated productivity initiatives, price increases in select states, and continued focus on premiumisation,” Anand Kripalu, CEO, commenting on the quarter and six months ended 30 September 2017 said.

Hindustan Copper surges 7% on reopening of Kendadih mine

Hindustan Copper surged 7% to Rs 95.65 on the National Stock Exchange (NSE) in early morning trade after the company announced that it has re-opened the Kendadih copper mine located in Jharkhand.

“Kendadih copper mine of the company located at Ghatsila, Jharkhand, was closed in the February, 2000 due to economic reasons. Since then, considering the favourable market conditions, the Company has reworked the mine business plan,” Hindustan Copper said in a press release.

After obtaining all the statutory clearances like Environment and Forest clearances including execution of mining lease deed from Central and State Governments it has re-opened the mine on 11th November, 2017, it added.

The mine (after completion of mine development activities) is expected to produce 2.25 lakhs MT of copper ore annually, the company said.

At 09:57 AM; the stock was up 6% at Rs 94.70 on the NSE on back of heavy volumes. On comparison, Nifty 50 index was down 0.2% at 10,239 and the sector Nifty Metal index quoting 0.44% lower at 3,603. A combined 5.62 million shares changed hands on the counter on the NSE and BSE so far.

Top technical calls for today's trade: Buy ONGC and Adani Ports

STOCK MARKET - Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

NIFTY VIEW:
Market has once again seen some exhaustion at higher levels breaking the immediate support of 10260 levels implying some more corrective move likely to occur. The support for the day is seen at 10180 while resistance is seen at 10280. All eyes are now on FOMC outcome and the big Gujarat election outcome next week. Market is going to witness high volatility with cautious move; the volatility index too has been on rise.

BUY ABAN OFFSHORE
CMP: Rs 205.50      
TARGET: Rs 224    
STOP LOSS: Rs 194
The stock has made a double bottom formation pattern in the daily chart at around 190 levels and has produced a bullish candle to signify potential and strength to rise further in the coming days. The stock looks attractive with a positive bias and with the RSI also indicating a trend reversal to signal a buy, we recommend a buy in this stock for an upside target of 224 keeping a stop loss of 194

BUY ADANI PORTS
CMP: Rs 402.50    
TARGET: Rs 435    
STOP LOSS: Rs 380
The stock has made a higher bottom formation pattern in the daily chart and has always maintained above the 200 DMA level to signify strength and has potential to scale further upward to retest the previous peak level of 443. The RSI also has shown a reversal from the oversold area and is on the rise to signify a positive bias in the daily chart and with good volume participation witnessed, we recommend a buy in this stock for an upside target of 435 keeping a stop loss of 380

Xiaomi Mi A1 gets a Rs 1,000 price cut, to cost Rs 13,999 now: Read review

Xiaomi has officially slashed the price of the Mi A1 smartphone by Rs 1,000. The Xiaomi Mi A1, an Android One smartphone, was launched in September with a price tag of Rs 14,999. Now, after the price reduction, the device is available on Flipkart and Mi Store at Rs 13,999.

The Mi A1 is the first Xiaomi smartphone to use stock Android version instead of company's heavily customised MIUI theme. It is also a first premium mobile phone to wear the Android One moniker, created with the promise of a pure Android experience and quicker software updates, and earlier limited to budget smartphones. That indeed is the device’s USP, but how does it fare on other parameters?

Business Standard took the Xiaomi Mi A1 for a spin and here are our observations:

Design
At first glance, the smartphone resembles the Google Pixel, with some minor tweaks. The metallic uni-body design feels premium in hand and the 2.5D curved glass on top of the screen accentuates the details. On the back, the dual camera set-up bulges out from the body, enclosed in a metallic frame, accentuating the camera unit. The fingerprint scanner is placed at the upper centre which makes it easier to reach and comfortable to use.

Overall, Xiaomi has not done any fancy design experiment with the Mi A1 and the result is no-frills, neat-looking smartphone.

Display
For a smartphone with a 5.5-inch screen, the Mi A1 is a big device with huge top and bottom bezels around the display. The side bezels are slim and the 2.5D curved glass on top makes it look almost bezel-less. The screen is of in-plane switch (IPS) breed, with fullHD resolution. It looks sharp and bright. There is no dearth of contrast, either, but the reflective nature of the glass deteriorates the screen’s sunlight legibility.

The touch feels smooth and there is no lag or touch latency of any sort. Instead, the curved glass makes it easier to operate the phone.

Virat-Anushka wedding pics: How Sabyasachi, social media made it special

Indian cricket team captain Virat Kohli and Bollywood actress Anushka Sharma got married in Italy on Monday, ending weeks of frenzied speculation that they were getting hitched.

The ethereal couple tied the knot at a picturesque location and from what we could see from the latest pictures of the wedding, the two looked celestial in Sabyasachi ensembles.

The actress was seen in an exquisite tailor-made creation from the designer's boutique, a pale pink lehenga with 'Renaissance embroidery' in vintage English colours embellished with silver-gold metal thread, pearls and beads.

While the bridal jewellery was handcrafted with syndicate uncut diamonds, pale pink spinel and baroque Japanese cultured pearls by the Sabyasachi Heritage Jewellery collection.

Her makeup was light and minimal which added an elegant touch to the entire look.

ALSO READ: Virat, Anushka married in Italy! How star brands light up the catwalk

Punjab National Bank trades firm after QIP launch

Punjab National Bank (PNB) was trading firm, up 1% at Rs 175 on the National Stock Exchange (NSE), after state-owned bank announced the opening of the qualified institutions placement (QIP).

The shareholders of the bank at their extra ordinary general meeting (EGM) held on December 4, 2017 approved the raising of common equity tier-I capital of the bank in aggregating not exceeding Rs 5,000 crore including premium by way of FPO (Follow on Public Offer)/ QIP (Qualified Institutional Placement) /Rights Issue/ ESOP (Employees Stock Option Plan) and/ or any other mode or combination(s) thereof, as may be decided by the Board.

PNB said it intends to use the net proceeds of the Issue to augment its CET I capital and for general corporate purposes.

At 11:59 AM; the stock was the largest gainer among Nifty PSU Bank index, which down 0.11% at 3,805 points. The Nifty 50 index was down 0.43% at 10,278 points.

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Rupee weakens 8 paise to hit 64.45 ahead of key macro data release

MARKET - The rupee lost 8 paise to hit 64.45 against the dollar on Tuesday ahead of key macroeconomic data set for release later in the day amid foreign capital outflows.

Increased demand for the American currency from importers poured cold water on the rupee, but the dollar's reduced clout against other currencies overseas limited the losses.

On Monday, the rupee had gained 8 paise to end at a fresh one-week high of 64.37 a dollar on persistent selling of the US currency ahead of release of industrial production and retail inflation data.

The benchmark BSE Sensex fell 94.02 points, or 0.28 per cent, to 33,361.77 in early session.

Bitcoin futures suggest cryptocurrency's blistering price rise to slow

STOCK MARKET - Newly launched bitcoin futures on Monday suggested that traders expect the cryptocurrency's blistering price gains to slow in the coming months, even as it blasted above $17,000 to a fresh record high in the spot market.

Chicago-based derivatives exchange Cboe Global Markets launched the futures late on Sunday, marking the first time investors could get exposure to the bitcoin market via a large, regulated exchange.

The one-month bitcoin contract opened at 6 pm local time (2300 GMT) on Sunday at $15,460. By late afternoon on Monday in New York, it was trading at $18,650, roughly 8 percent above bitcoin's spot price of $16,900 on the Bitstamp exchange.

Bitcoin earlier hit a record high of $17,270.

Its steep gains and rapid rise have attracted investors around the world as well as intense scrutiny from government regulators, which is the very opposite of what its creators wanted when it first launched bitcoin more than eight years ago.

"The bitcoin founder should be horrified seeing it rise so quickly, as any serious focus on it and its recent explosive move higher will soon end its freedom," said John Taylor Jr, president and founder of research firm Taylor Global Vision in New York.

WhatsApp set to launch standalone app for businesses soon

As businesses widely use WhatsApp to communicate with their customers, particularly in Asia, the Facebook-owned service appears all set to launch a brand new app for them.

In a new FAQ published on its site, WhatsApp has revealed more details about the upcoming Business accounts like how to identify verified Business accounts from non-verified ones.

"While chatting with businesses, you can check your contact's profile to see which type of account they're using. A verified account has a green checkmark badge in its profile," WhatsApp wrote in the FAQ.

A Business account with a green checkmark badge in its profile is verified as an authentic brand by WhatsApp.

"A business account with a gray question mark badge in its profile means the account is using the WhatsApp Business app but hasn't been confirmed nor verified by WhatsApp," the company said.

The much talked-about WhatsApp for business app is currently being tested by a private group of testers and the company will introduce it as 'WhatsApp Business' -- a standalone app.

Its description available on Play Store read: "As a test partner for 'WhatsApp Business', you have early access to a wide range of new features that we've built with you in mind. As you experiment with what this new app has to offer, please share your experiences with us so that we can improve the product."

Maruti Suzuki hits new high; surpasses SBI, HDFC in market-cap ranking

STOCK MARKET - Maruti Suzuki India hit a new high of Rs 9,120 on the BSE in intra-day delas on Friday, surpassing the state-owned banking giant State Bank of India (SBI) in market capitalisation (market-cap) ranking.

On Thursday, Maruti Suzuki India had surpassed the India's largest mortgage lender and non-banking finance company Housing Development Finance Corporation (HDFC).

Maruti Suzuki India with market-cap of Rs 273,958 crore came in at number sixth position in overall ranking ahead of SBI which had market-cap of Rs 272,902 crore at 10:49 am; the BSE data showed. HDFC had market-cap of Rs 267,242 crore.

Maruti Suzuki India was at number 11th position in overall market-cap ranking at beginning of the current calendar year 2017 (CY17). It surpassed Infosys, Oil and Natural Gas Corporation (ONGC) and Coal India thus far in CY17.

The stock of Maruti Suzuki India surged 7% in past two trading sessions after the company reported 8.04% rise in its production to 1,55,568 units in November 2017, as compared to 1,43,989 units in November 2016.  It is the fourth best performing stock among the S&P BSE Sensex, rallies 71% so far in CY17.

The brokerage firm overweight on the Maruti Suzuki India (MSIL) with 12 month price target of Rs 9,350 per share.

“MSIL's revenue growth, we think, will remain exciting over FY18 as positive model mix flows through in both volumes and improved pricing. EBIT margins, however, may moderate from the current high levels though will likely remain above through cycle levels. We also think growth will return in the industry in FY18 and MSIL in our view will be able to hold onto its market share,” J P Morgan said in recent report.

Bitcoin plunges more than 12% to below $15,000 after hitting record $19,000

Bitcoin tumbled more than 12 per cent in volatile Asian trading on Friday, dropping below the $15,000 level after touching a record high above $19,000 earlier in the session.

Bitcoin was down 12.6 per cent on the Bitstamp exchange at $14,500.76 as of 0530 GMT, after rising to a record $19,000.

It was still up more than 30 per cent for the week, as investors debated about whether the cryptocurrency was in a bubble that was about to burst.

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Jet Airways falls 5% post Q2 results

Jet Airways (India) dipped 5% to Rs 665 on the BSE in intra-day trade after the company reported a 91% drop in standalone net profit at Rs 50 crore in September quarter (Q2FY18), due to higher fuel expenses. It had profit of Rs 549 crore in the same quarter year ago.

Revenue from operations grew 3% at Rs 5,627 crore against Rs 5,453 crore in the corresponding quarter of previous year.
Quarterly total expenses rose 9.2% to Rs 5,709 crore with aircraft fuel expenses rising about 17% at Rs 1,526 crore over the previous year quarter.

“Various initiatives undertaken by the company in relation to cost synergies, revenue management opportunities, enhanced ancillary revenues have resulted in significant improvement in operating cash flows. Further, the company’s thrust to improve operational efficiency and initiatives to raise funds are expected to result in sustainable cash flow,” Jet Airways said in a note.

The stock had a strong run-up in past two months, appreciated 43% as compared to 3.6% rise in the S&P BSE Sensex till Thursday.

At 10:20 AM; it was trading at 3% lower at Rs 675 against 0.71% rise in the benchmark index. A combined 2.93 million shares changed hands on the counter on the NSE and BSE.

Nifty outlook and top trading ideas from Prabhudas Lilladher

STOCK MARKET - Nifty outlook and key trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW:
Nifty for now has made a U-turn getting its daily trend turned up after 6 days; however Nifty needs to cross 10,200 levels for further target of 10,280-10,350. The support for the day is seen at 10,120 while resistance is seen at 10,220. This still continues to be a bounce back rally till we see some confirmation above 10,350.

BUY ASIAN PAINTS
CMP: Rs 1,144.40    
TARGET: Rs 1,245    
STOP LOSS: Rs 1,100
The stock has given a decent correction from the  peak of 1200 levels and now has bottomed out at 1099 and produced a positive bullish candle pattern in the daily chart to signify potential and strength to rise further in the coming days. The RSI has hit the oversold area and has indicated a steep rise with a trend reversal thus signaling a buy in this stock. The volume activity has been tremendous in the recent times and thus we recommend a buy in this stock for an upside target of 1245 keeping a stop loss of 1100

BUY RAMA STEEL AND TUBES
CMP: Rs 185    
TARGET: Rs 204    
STOP LOSS: Rs 175
The stock has been consolidating for some time between the range of 180 and 188 levels and now has indicated a positive candle in the daily chart. The indicators are showing a positive bias with favorable factors like the RSI has indicated a steep rise from the bottom to show a trend reversal and signal a buy. The stock looks promising and we recommend a buy in this stock for an upside target of 204 keeping  a stop loss of 175

Airtel, Intex offer affordable 4G smartphones bundled with free calls, data

Telecom service provider Bharti Airtel has partnered with home-grown handset maker Intex to launch a range of affordable 4G smartphones with an effective starting effective price of Rs 1,649. The phones come bundled with Airtel Rs 169 plan, which includes data and calling benefits.

The telecom provider offers the Intex Aqua Lions N1 4G smartphone at an effective price of Rs 1,649. To avail of the offer, you ' need to make a down payment of Rs 3,149 and get a Rs 1,500 cashback from Airtel, subject to terms and conditions. That brings the effective cost of the smartphone down to Rs 1,649. For getting the cashback, you have to make 36 continuous monthly recharges of Rs 169 from Airtel. After 18 months, you get a cash refund of Rs 500 and another Rs 1,000 after the completion of 36 months, taking the total cash benefit to Rs 1,500.

Talking about the smartphone's specifications, the dual-SIM Aqua Lions N1 is powered by MTK chipset and sports a 4-inch screen. There are 2-megapixel cameras on the back and front. The phone features 1GB RAM and 8GB internal storage, expandable to up to 128GB.

 “We are really pleased to see the continued positive response to our ‘Mera Pehla Smartphone’ initiative from customers as well as smartphone manufacturers. We are delighted to have Intex on board as a partner and their brand familiarity plus distribution reach will add to our affordable smartphone proposition and offer more choice to our customers. We look forward to working with them towards empowering every Indian with a 4G smartphone.”

Flipkart Big Shopping Days Sale: iPhone X deal, Pixel 2 under Rs 30k & more

Flipkart’s three-day Big Shopping Days sale has begun today. Under this, the e-commerce portal is offering discounts, exchange offers and cash back schemes on several products, including mobiles & tablets, electronic items & accessories, large appliances and televisions. The three-day sale currently live would continue until December 9.

The online shopping portal is also offering a 10 per cent discount to State Bank of India (SBI) customers on payments made through their debit and credit cards.

Here are some of the best deals to look out for:

Apple iPhone X sale

iPhone X iPhone X The anniversary-edition iPhone X would go on sale at the online shopping portal starting at 12 noon. The phone would be available in limited numbers only. The e-commerce portal is offering Rs 5,000 instant discount on SBI credit cards.
READ MORE

Avenue Supermarts, Tech Mahindra gain after block deals

Shares of Avenue Supermarts, which owns and operates D-Mart retail chain, and IT consulting & software company Tech Mahindra have moved higher by upto 6% on the bourses after the huge block deals executed on these counters.

Tech Mahindra was up 5% at Rs 497, bouncing back 6% from early morning low on the National Stock Exchange (NSE). Till 01:51 PM; around 6.35 million equity shares representing 0.65% stake in the company changed hands on the NSE, the exchange data shows.

Avenue Supermarts too moved higher by 5% to Rs 1,176 on the BSE in intra-day trade, after more than two million shares changed hands through block deals. Around 2.2 million shares or 0.35% of total equity of the company changed hands so far, the BSE data shows.

The name of the buyers and sellers were not ascertained immediately.

L&T gains on order win of Rs 1,600 crore from HPCL

Larsen & Toubro (L&T) was up 1.4% at Rs 1,207 on the BSE in early morning trade after the construction & engineering giant said that its arm L&T Hydrocarbon Engineering  (LTHE) has won order worth of over Rs1,600 crore from Hindustan Petroleum Corporation Limited (HPCL).

The project is part of HPCL Visakh Refinery Modernisation Project (VRMP) and involves engineering, procurement, construction and commissioning of 3.053 MMTP full conversion hydrocracker project.

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Trend watch: Nifty likely to slip below 10,000 levels | Business Standard News

STOCK MARKET failed to sustain at higher levels as the Reserve Bank of India kept key rates steady in its fifth bi-monthly monetary policy review on Wednesday. The S&P BSE Sensex and the Nifty50 ended the day at 32,597 and 10,044 levels, respectively.
Going ahead, experts suggest the indices could remain choppy and move sideways till the outcome of Gujarat elections is known on December 18. Outcome of the US Federal Reserve meeting next week is another event they are keeping a tab on.
In the interim, however, they do expect the 50-share Nifty to slip below the 10,000 mark and suggest only investors that have an appetite for risk venture into the markets.

This is how leading brokerages expect the markets to shape up based on technical charts:

ANGEL BROKING
The Nifty has closed at the two-month low on Wednesday, which was very much in-line with our recent expectations. On the daily chart, we initiated ‘sell’ in index around 10380 – 10350 with an anticipation of weakness and now we can see confirmation of short term reversal in the form of ‘Lower Top Lower Bottom’ on daily chart for the first time in last several months.
We are now gaining further conviction over recent bearish stance on the market. Now, it’s a matter of time that we would see index entering into a four-digit territory. For the coming session, 10076 – 10104 would be seen as immediate resistance zone. In case of any extended bounce also, traders are advised not to make any kind of bottom fishing and rather use such relief rallies to exit existing long positions.

PRABHUDAS LILLADHER
Market has continued with its selling and now with the crucial support of 10,080 being broken decisively, Nifty is set to slide towards its next support of 9,900-9,850. The support for the day is seen at 10,000 while resistance is seen at 10,100.

ZEN SECURITIES
For the Nifty 10087, 10131, 10202 are the immediate resistance levels, While 10016, 9989, 9918 are its immediate support levels. For the Sensex 32746, 32895, 33134 are the immediate resistance levels, While 32506, 32416, 32176 are its immediate support levels.

HW110 Bluetooth headphone review: A device for 'budget audiophiles'

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Fenda Audio (F&D), one of the fastest-growing sound technology companies in India launched a new range of pocket-friendly earphones and headphones for the music lovers of the country.

Business Standard reviewed the wireless headphone and here are our in-depth observations of HW110:

Design: Stylish & innovative

The HW110 headset, available in a rubberised matte finish, looks premium and neat but misses out on the fabric headband that may make users feel a little uncomfortable after an hour of continuous music. It has soft ergonomic over-the-ear grilles that cancel out noise decently but there are no ear markers indicating L & R on either of the ear cups.

Each ear cup extends to 7 levels of fits but the headband may feel heavy on your head after some time.

A single multi-functional button is given for power, Bluetooth pairing, controlling playback and managing calls- a feature that looks minimalistic but can be confusing at times.

The plus-minus buttons for volume controls, a port for micro USB charging and AUX port are placed on the same ear cup that houses the all-in-one button.

Tata Motors flags off first batch of Tigor electric cars from Sanand plant

Tata Motors on Wednesday rolled out the first batch of the Tigor electric vehicle (EV) from its Sanand facility in Gujarat.

The vehicles are part of the tender floated by the Energy Efficiency Services Ltd (EESL) for 10,000 EVs.

"This occasion is a significant milestone for Tata Motors and a proud moment for the entire team," Tata Group Chairman N Chandrasekaran said in a statement.

He further added: "As we work together to build the future of e-mobility in India, I am confident that our customers will respond very favourably to this electric model.

Tata Motors CEO & MD Guenter Butschek said with Tigor EV, the company has begun its journey in boosting e-mobility and offering a full range of electric vehicles to the Indian customers.

"This tender (EESL) has effectively paved way for connecting our aspirations in the e-mobility space with the vision of the government," he added.

In September, Tata Motors had emerged as the lowest bidder for 10,000 electric cars tender issued by EESL.

For phase one, Tata Motors is required to deliver 250 Tigor EVs to EESL.