Monsoon likely to cover entire India in next 2-3 days, says IMD

The south-west monsoon, which reached Delhi on Thursday and stretched into Punjab, Haryana, Himachal Pradesh, and Jammu & Kashmir, is expected to cover the country in the next two-three days, the India Meteorological Department (IMD) said in its daily update on June 28.

The monsoon normally covers the country by July 15, but this time it is expected to do so about 14 days before the anticipated date.

“The south-west monsoon has further advanced into some more parts of the Gujarat region, most parts of east Rajasthan, some parts of West Rajasthan, entire Haryana, Chandigarh, Delhi, remaining parts of west Uttar Pradesh, Uttarakhand, Himachal Pradesh and Punjab," the IMD said.

“Conditions are favourable for further advance of the south-west monsoon into remaining parts of the north Arabian Sea, Gujarat, Rajasthan and thus the entire country during the next 2-3 days,” the IMD added.

The monsoon reached Kerala on June 28, three days ahead of the normal onset date. It pounded the western coast in the first half of the month.

Sanju review: An unconvincing biopic but another good Rajkumar Hirani film

Sanju Review is writer, editor, director, Rajkumar Hirani’s fifth feature film and in four of these films, Abhijat Joshi has partnered him in writing the screenplay of the film. In one of their interviews, Hirani explained that they approached each scene with the LCD principle. A scene either ought to make you laugh, cry or should be dramatic enough for you to feel engaged with it. One could say that it is this principle and his editing skills which have made all his films special. They have been tightly scripted entertainers which have then found acceptance with the masses too.

Sanju, his latest and promoted as a biopic based on the life of actor Sanjay Dutt (star of Hirani’s first two films as director) continues this tradition of adhering to the LCD principle and starts off on a dramatic note and then continues to weave laughter, tears and drama through its 161-minute journey.

Sanjay Dutt has had a remarkably newsy and controversial life and it does make for an interesting story on its own. From his days as a drug addict to his time in jail after the Bombay blasts in 1993, to his recurring brushes with the underworld and then the long drawn court case, Dutt’s story makes for an arresting topic. While the world may have judged him differently, the film industry seems to dismiss all allegations against ‘Sanju Baba’ with a gentle wave of the hand and the movie Sanju seems no different.

Britannia Industries hits new high; stock surges 70% in one year

Stock Market of Britannia Industries were trading higher for the fifth straight day, hitting a new high of Rs 6,189 per share, up 1.5% on the BSE in intra-day trade on Friday.
Stock of the leading food company was up 4% as compared to 1.2% decline in the S&P BSE Sensex during the week. In past one year, Britannia Industries has rallied 70% from Rs 3,638 against 14% rise in the benchmark index.

Since May 14, in past one and half months, the stock gained 13% after the company reported a healthy 25% year on year jumped in its consolidated net profit and 13% growth in revenue in March quarter. On comparison, the Sensex was down nearly 1% during the same period.

During the quarter revenue growth was backed by the positive momentum in the market. Premiumization and increase in distribution footprints have resulted in better realization, improved profitability and robust volume growth especially in the rural India.

Check Live - Britannia Stock Price

Tata Steel to get 45% stake in Thyssenkrupp joint venture: Sources

Stock Market - Thyssenkrupp AG and Tata Steel Ltd. are closing in on a European steel joint venture after a last-minute change to the deal terms that won approval from Thyssenkrupp’s union.

In the revised deal, Thyssenkrupp will own about 55 per cent of the equity in the new company and Tata will have 45 per cent, according to people familiar with the matter. The changes happened after Thyssenkrupp’s activist shareholders pressured management to squeeze better terms from the deal, which was originally a 50-50 split. The voting rights will be equally split.

The talks over the joint venture have dragged on for more than a year and faced opposition from labour representatives, as well as activist shareholders. Thyssenkrupp’s labour representatives said on Thursday they would vote in favour of the joint venture, paving the way for it to go through.

Check Live - TATA Steel Stock Price

Nifty outlook and top trading ideas 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
Nifty broke the crucial support of 10,700 mark on the back of heavy selling pressure weakening the sentiment and bias as of now. The chances of some more downward slide in the coming days cannot be ruled out and for Nifty now 10,530-10,550 would be the major support level whereas for Bank Nifty the breach of 26,300 levels would disrupt the bias and further selling pressure may be triggered. However, the support for the day is seen at 10,610 while resistance is seen at 10,730.

VOLTAS STOCK PRICE
CMP : Rs 535.25
TARGET : Rs 590
STOP LOSS : Rs 505
The stock has witnessed a good consolidation phase at around 520 forming a strong base near 510 levels and now has produced a positive bullish candle pattern in the daily chart to signify strength and has got the potential to rise further and take the stock to around 580-590 levels. The RSI also has indicated a steep rise with a trend reversal to signal a buy and has maintained a positive bias. With good consistent volume participation witnessed, we recommend a buy in this stock for an upside target of 590 keeping a stop loss of 505.

IndiGo offers bonus to pilots in lieu of leave to counter staff shortage

Stock Market - IndiGo is asking its pilots to forfeit holidays as crew shortage poses a hurdle in the carrier’s expansion plan.

India’s largest airline is offering a bonus of up to Rs 3,30,000 and will increase the annual privilege leave as it prepares to deploy 50 more aircraft in the next seven months. “As you may be aware, the induction of new aircraft is now reaching one of the most rapid and aggressive phases of this year's plan. In order to maintain the momentum of our commercial plan, pilots will be given an option to offer their leave in lieu of compensation,” .

Check Live - Indigo Stock price

Adani Ports to acquire 97% stake in Marine Infrastructure for Rs 19.50 bn

Stock Market - Adani Ports has decided to buy 97 per cent stake in Marine Infrastructure, which oversees operations of Kattupalli Port near Chennai, for an enterprise value of Rs 19.50 billion.

The company has signed Share Purchase Agreement with Larsen & Toubro (L&T), Marine Infrastructure Developer Pvt Ltd (MIDPL) and L&T Shipbuilding to acquire 97 per cent stake of Marine Infrastructure Developer Pvt Ltd, which is engaged in constructing, maintaining, developing and operating the port.

The consideration is in the form of cash. Of the Rs 19.50 billion enterprise value, Rs 3.88 billion is the consideration for the acquisition of shares and the balance Rs 15.62 billion is towards the settlement of liabilities of MIDPL.

In 2016-17, MIDPL has clocked a revenue of Rs 986.4 million, while in 2017-18 it was nil.

The acquisition will further strengthen Adani's presence in East Coast and will enable the company to develop container terminal operation to increase market share in container, bulk terminal operation and marine services.

Check Live - Adani Ports Stock Price

Lupin rises 2% on partnership with Mylan for Enbrel Biosimilar

Shares of Lupin were up 2% at Rs 910 per share on the BSE in noon deal after the company said it has partnered with Mylan to commercialize Enbrel (Etanercept) biosimilar.
Under the terms of the agreement, Lupin will receive an up-front payment of $15 million and potential commercial milestones together with an equal share in net profits of the product.

Through the partnership agreement, Mylan will commercialize Lupin's proposed etanercept biosimilar in Europe, Australia, New Zealand, Latin America, Africa and most Stock Market throughout Asia, Lupin said in a press release.

Enbrel is a TNF-inhibitor indicated to treat certain autoimmune diseases, including rheumatoid arthritis, psoriatic arthritis, plaque psoriasis and ankylosing spondylitis. Enbrel had global brand sales of approximately $11.6 billion for the 12 months ending Dec. 31, 2017, according to IQVIA, it added.

Check Live - Lupin Stock Price

Today's picks: From HPCL to Tech Mahindra, hot stocks to watch today

Stock Market - Nifty
Current: 10,671 (fut: 10,671)
Target: NA
Stop-long positions at 10,600. Stop-short positions at 10,750. Big moves could go till 10,800, 10,550. A long 10,600p, A long 10,600p (12) could pay off if the downtrend continues into settlement day.
Bank Nifty
Current: 26,423 (fut: 26,429)
Target: NA
Stop-long positions at 26,325. Stop-short positions at 26,525. Big moves could go till 26,650, 26,200.
Tech Mahindra Stock Price
Current price:
Rs 714
Target price:
Rs 728
Keep a stop at Rs 707 and go long. Add to the position between Rs 722 and Rs 725.
Book profits at Rs 728.

Infosys hits new high; stock surges 25% so far in 2018

Shares of Infosys hit a new high of Rs 1,298 per share, up 2% on the BSE in early morning trade in an otherwise flat market. With Rs 2.83-trillion market capitalisation, Infosys is 6% or Rs 164 billion away to touch Rs 3-trillion mark.
Thus far in the calendar year 2018 (CY18), Infosys has outperformed the market by gaining 25% as compared to 3.3% rise in the S&P BSE Sensex.

Infosys, the country's second largest IT services company, on Wednesday after market hours said that it is scheduled to announce its financial results for first quarter (April-June) of current fiscal 2018-19 (FY19) on July 13.

Infosys has set a 3-year roadmap stabilize in FY19, build momentum in FY20 and accelerate in FY21. The company outlined that FY19 is going to be a year of investments in the area of sales, scaling up digital capabilities, localization and employee re-skilling.

Check Live - Infosys Stock Price

ICICI Bank extends fall; stock down 11% in four days

Shares of ICICI Bank have dipped nearly 4% to Rs 268 in intra-day trade, extending its 7% decline in past three trading sessions on the BSE. The private sector lender’s market capitalisation has eroded by Rs 209-billion in four trading sessions, after the bank said another whistle-blower had accused it of having lax controls over operations.

This is the third instance of such complaint. In the first two complaints, the bank’s Managing Director and Chief Executive Officer Chanda Kochhar is facing an inquiry by the board and is on leave till investigations are over. The latest complaint relates to the incorrect asset classification of 31 loan accounts, and alleges that interest income and recoveries from non-performing assets (NPA) have been accounted as fees, the Business Standard reported.

Meanwhile, according to PTI report, a preliminary examination by regulator Sebi has favoured adjudication proceedings against ICICI Bank and its CEO Chanda Kochhar for alleged violation of listing disclosure norms regarding 'conflict of interest' in business dealings of her husband with Videocon group.

Check Live - ICICI Bank Stock Price

Technical calls for the day by HDFC Securities: Buy Bata India

Nifty outlook and top stock ideas by Vinay Rajani, Technical Analyst, HDFC Securities:
Stock Market
Nifty continued to remain in the narrow range of 10700-10850. Any level above 10850 would confirm bullish breakout from the symmetrical triangle, while close below 10700 would confirm bearish reversal on the charts. Advance decline ratio has been negative for last 10 days, indicating weak market breadth. Any level above 10850 would push Nifty towards next target of 11020 in Nifty. Close below 10700 could extend the fall towards far support of 10550.

Bata India Stock Price
CMP: Rs 845.55
Target: Rs 890
Stop loss: Rs 820
In the current month of June 2018, when most of the stocks have been hammered down, Bata managed to register new all time high with jump in volumes. After 3 days of running correction, Bata India resumed its uptrend during yesterday’s trading session by rising more than 2.5% with higher volumes. Oscillator and Moving average setup also indicates the bullish trend for the stock.

We recommend Buying Bata India for the target of 890, keeping SL at 820.

JSW Steel to invest Rs 75 bn in Karnataka to expand Vijayanagar facility

Stock Market - JSW Steel is investing around Rs 75 billion in Karnataka to expand the capacity of its manufacturing plant in Vijayanagar, Ballari, apart from setting up a new coke oven plant. The expansion would enable the company to increase the capacity of the plant to 13 million tonnes per annum (mtpa) from 12 mtpa by March 2020, the Sajjan Jindal-led company said.

JSW Vijayanagar Works is the largest single location steel manufacturing unit in India.

"The new capacity creation at JSW Vijayanagar Works steel manufacturing unit supports our company's growth plans while further improving the efficiency of our manufacturing operations," said Vinod Nowal, deputy managing director, JSW Steel. "With steel consumption in India expected to grow, these capacity enhancement initiatives will ensure our readiness to promptly service emerging customer demand."

The company said it would set up a 1.5 mtpa coke oven plant at Vijayanagar to bridge the current and expected gaps in coke availability. The coke oven unit which is likely to be commissioned by March 2020 is expected to provide cost savings for the company over the longer term.

Get Live - JSW Steel Stock Price

BPCL, HPCL, IOCL slip 6%; Jet Airways hits 52-week low as oil prices rise

Stock market - Shares of oil marketing companies (OMCs) such as Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL) have slipped up to 6% on the BSE in intra-day trade as oil prices rise amid supply disruptions.
At 10:50 am; the S&P BSE Oil & Gas index plunged 2.6% or 364 points at 13,810 points, as compared to 0.01% decline in the S&P BSE Sensex.

Among airlines companies, Jet Airways (India) hit a 52-week low of Rs 366, down 3% on the BSE in intra-day trade, while InterGlobe Aviation (down 2% at Rs 1,143) and SpiceJet (down 1.5% at Rs 112) too trading lower on the BSE.

Oil prices rose on Wednesday following supply disruptions in Libya and Canada and after US officials told oil importers to stop buying Iranian crude from November, the Reuters report suggested.

Get Live - BPCL Stock Price

'Systemic lapses' found in inter-corporate borrowings: Fortis Healthcare

Stock Market - Fortis Healthcare today said "systemic lapses" were found in certain inter-corporate deposits (ICDs) given by its arm Fortis Hospitals Ltd that were used by borrowers for granting or repaying loans to certain additional entities whose directors are connected to its erstwhile promoters, the Singh brothers.

The company, which had initiated an independent investigation through an external legal firm in February this year, also said it has made provisions totalling around Rs 580 crore in the fourth quarter of FY18 pertaining to the ICDs and other loans, among others, but the "recoverability is doubtful".

The findings of the investigations have been submitted to the Securities and Exchange Board of India (SEBI) and Serious Fraud Investigation Office (SFIO). The company has initiated legal action for recovery of these outstanding ICDs and other advances, Fortis Healthcare said in a statement.

The board of directors of the company discussed the investigation report during their two-day meeting, which ended early this morning.

Get Live - Fortis Healthcare Stock Price

Today's picks: From Tata Motors to NTPC, hot stocks to watch today

Stock Market

Nifty

Current: 10,769 (fut: 10,758) Target: NA

Stop-long positions at 10,690. Stop-short positions at 10,825. Big moves could go till 10,875, 10,650. Trend is indeterminate. A long 10,800c (24), long 10,700p (20) has breakevens at 10,656, 10,744. If you don't think the index will move that much by settlement, you could sell this strangle.

Bank Nifty

Current: 26,602 (futures: 26,600)

Target: NA

Stop-long positions at 26,475. Stop-short positions at 26,725. Big moves could go till 26,900, 26,300. Trend could have negative bias.

NTPC Stock Price

Current price: Rs 155.5

Target price: Rs 152

Keep a stop at Rs 157 and go short. Add to the position between Rs 152.5 and Rs 153.5. Book profits at Rs 152.

Bhagiradha Chemicals zooms 37% from intra-day low post a huge block deal

Shares of Bhagiradha Chemicals & Industries have moved higher by 16% to Rs 282 per share on the BSE, bouncing back 37% from their intra-day low on Wednesday after nearly 25% of the total equity of the agrochemicals company changed hands through block deal. The Stock Market hit a low of Rs 206 in intra-day trade against its Tuesday's close of Rs 244 on the BSE.
At 12:07 PM; around 1.95 million equity shares representing 25% of total equity of Bhagiradha Chemicals & Industries have changed hands on the BSE, the exchange data shows.

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

Till 1.35 PM; about 2.36 million have changed hands against an average sub 2,000 shares that were traded daily in past two weeks, the BSE data shows. Currently, the stock was trading 7% higher at Rs 262, as compared to 0.46% decline in the S&P BSE Sensex.

Get Live - Bhagiradha Chemicals Stock Price

PSBs trade weak; Union Bank of India, Syndicate Bank hit 52-week low

Stock Market - Shares of public sector banks (PSBs) were down by up to 5% on the National Stock Exchange (NSE) in morning trade on concerns of stress in the banking sector.
Syndicate Bank, Allahabad Bank and IDBI Bank have fallen in the range 3% to 5%, while Union Bank of India, Andhra Bank, Oriental Bank of Commerce, Bank of Baroda, State Bank of India (SBI), Bank of India, Punjab National Bank (PNB) and Canara Bank were down between 1% to 2% on the NSE.

At 09:47 am; Nifty PSU Bank index, the largest loser among sectoral indices, was down 1.5% as compared to 0.01% rise in the Nifty 50 index and a marginal 0.02% decline in the Nifty Private Bank index.

Among the PSBs, Syndicate Bank (down 5% at Rs 41.55) and Union Bank of India (down 2% at Rs 81.50) from the Nifty PSU Bank index hit their respective 52-week lows in intra-day trade today. Andhra Bank and Indian Bank too touched 52-week lows today.

Get Live - Union Bank Stock Price

Buy Grasim for target of Rs 1,080, stop loss of Rs 1,000: Religare Broking

Stock Market calls by Religare Broking:

Grasim Industries Stock Price
Rec: BUY
Last Close: Rs 1,036.70
Initiation range: Rs 1,025-1035
Target: Rs 1,080
Stop loss: Rs 1,000
In line with correction in cement space, GRASIM also retraced from its record high i.e. 1300 to 990 in last seven months. However, its pace of fall was gradual in comparison to the others and it also strongly upheld the support zone of 100 EMA on the weekly chart. It’s completed the formation of fresh buying pivot after spending nearly a month around that zone.

We advise traders not to miss this buying opportunity and accumulate in the given initiation range.

Technical calls for the day by HDFC Securities: Buy ITC, Bata India

Stock Market - Nifty outlook and top stock ideas by Vinay Rajani, Technical Analyst, HDFC Securities:

Nifty View
Nifty continued to remain in the narrow range of 10700-10850. Any level above 10850 would confirm bullish breakout from the symmetrical triangle, while close below 10700 would confirm bearish reversal on the charts. Advance decline ratio has been negative for last 10 days, indicating weak market breadth. Any level above 10850 would push Nifty towards next target of 11020 in Nifty. Close below 10700 could extend the fall towards far support of 10550.

ITC Stock Price
CMP: Rs 264.80
Target: Rs 256
Stop loss: Rs 278
From the recent top stock price has corrected 9%. Stock price has reached long term support derived from upward sloping trend line on the charts. Oscillators like RSI and stochastic looks oversold on the short to medium term charts. When most of the large cap, heavy weighted FMCG stocks are not that far from their all time and 52 week highs, ITC is placed 28% from its all time high of 367, throwing good opportunity to accumulate.

We recommend Buying ITC for the target of 278, keeping SL at 256.

Technical calls for the day by HDFC Securities: Buy ITC, Bata India

Stock Market - Nifty outlook and top stock ideas by Vinay Rajani, Technical Analyst, HDFC Securities:

Nifty View
Nifty continued to remain in the narrow range of 10700-10850. Any level above 10850 would confirm bullish breakout from the symmetrical triangle, while close below 10700 would confirm bearish reversal on the charts. Advance decline ratio has been negative for last 10 days, indicating weak market breadth. Any level above 10850 would push Nifty towards next target of 11020 in Nifty. Close below 10700 could extend the fall towards far support of 10550.

ITC Stock Price
CMP: Rs 264.80
Target: Rs 256
Stop loss: Rs 278
From the recent top stock price has corrected 9%. Stock price has reached long term support derived from upward sloping trend line on the charts. Oscillators like RSI and stochastic looks oversold on the short to medium term charts. When most of the large cap, heavy weighted FMCG stocks are not that far from their all time and 52 week highs, ITC is placed 28% from its all time high of 367, throwing good opportunity to accumulate.

We recommend Buying ITC for the target of 278, keeping SL at 256.

Technical calls for the day by HDFC Securities: Buy ITC, Bata India

Stock Market - Nifty outlook and top stock ideas by Vinay Rajani, Technical Analyst, HDFC Securities:

Nifty View
Nifty continued to remain in the narrow range of 10700-10850. Any level above 10850 would confirm bullish breakout from the symmetrical triangle, while close below 10700 would confirm bearish reversal on the charts. Advance decline ratio has been negative for last 10 days, indicating weak market breadth. Any level above 10850 would push Nifty towards next target of 11020 in Nifty. Close below 10700 could extend the fall towards far support of 10550.

ITC Stock Price
CMP: Rs 264.80
Target: Rs 256
Stop loss: Rs 278
From the recent top stock price has corrected 9%. Stock price has reached long term support derived from upward sloping trend line on the charts. Oscillators like RSI and stochastic looks oversold on the short to medium term charts. When most of the large cap, heavy weighted FMCG stocks are not that far from their all time and 52 week highs, ITC is placed 28% from its all time high of 367, throwing good opportunity to accumulate.

We recommend Buying ITC for the target of 278, keeping SL at 256.

Technical calls for the day by HDFC Securities: Buy ITC, Bata India

Stock Market - Nifty outlook and top stock ideas by Vinay Rajani, Technical Analyst, HDFC Securities:

Nifty View
Nifty continued to remain in the narrow range of 10700-10850. Any level above 10850 would confirm bullish breakout from the symmetrical triangle, while close below 10700 would confirm bearish reversal on the charts. Advance decline ratio has been negative for last 10 days, indicating weak market breadth. Any level above 10850 would push Nifty towards next target of 11020 in Nifty. Close below 10700 could extend the fall towards far support of 10550.

ITC Stock Price
CMP: Rs 264.80
Target: Rs 256
Stop loss: Rs 278
From the recent top stock price has corrected 9%. Stock price has reached long term support derived from upward sloping trend line on the charts. Oscillators like RSI and stochastic looks oversold on the short to medium term charts. When most of the large cap, heavy weighted FMCG stocks are not that far from their all time and 52 week highs, ITC is placed 28% from its all time high of 367, throwing good opportunity to accumulate.

We recommend Buying ITC for the target of 278, keeping SL at 256.

Technical calls for the day by HDFC Securities: Buy ITC, Bata India

Stock Market - Nifty outlook and top stock ideas by Vinay Rajani, Technical Analyst, HDFC Securities:

Nifty View
Nifty continued to remain in the narrow range of 10700-10850. Any level above 10850 would confirm bullish breakout from the symmetrical triangle, while close below 10700 would confirm bearish reversal on the charts. Advance decline ratio has been negative for last 10 days, indicating weak market breadth. Any level above 10850 would push Nifty towards next target of 11020 in Nifty. Close below 10700 could extend the fall towards far support of 10550.

ITC Stock Price
CMP: Rs 264.80
Target: Rs 256
Stop loss: Rs 278
From the recent top stock price has corrected 9%. Stock price has reached long term support derived from upward sloping trend line on the charts. Oscillators like RSI and stochastic looks oversold on the short to medium term charts. When most of the large cap, heavy weighted FMCG stocks are not that far from their all time and 52 week highs, ITC is placed 28% from its all time high of 367, throwing good opportunity to accumulate.

We recommend Buying ITC for the target of 278, keeping SL at 256.

Bihar board 10th result 2018: 68.89% pass; check marks at biharboard.ac.in

BSEB Class 10 result 2018: Bihar School Examination Board (BSEB) announced the Bihar Class 10 Matric Result 2018 today on its official website biharboard.ac.in or biharboardonline.bihar.gov.in. Bihar School Examination Board (BSEB) announced the Bihar matric results at 4:40 pm on Tuesday (26 June 2018). 68.89 per cent students qualified for higher education.

On June 19, BSEB Chairman Anand Kishore held a press conference and confirmed that the Bihar 10th board result will be announced on June 26.

Bihar board class 10th students will also be able to check their Matric results on third-party websites such as bihar.indiaresults.com and examresults.net. There has been speculation about the Bihar 10th result date since May, and the Bihar board has since released results for its 12th class exams, with only the Matric results remaining. Earlier, the Bihar Board Class 10th results was postponed from 20th June to 26th June, after a news surfaced that Class 10th answer sheets were missing in Gopalganj.anand

HDFC MF gets Sebi go-ahead for IPO after nearly two months on backburner

Stock Market - HDFC Mutual Fund has obtained a go-ahead to launch its initial public offering (IPO), two investment bankers handling the issue said.

“Sebi has issued final observation on the offer document. The company will have to respond to the market regulator,” said an investment banker, adding that the asset manager is looking to launch its IPO in the second or third week of July.

HDFC MF couldn’t be immediately reached for a confirmation.

The processing status of draft offer documents filed with Sebi, uploaded on June 22, featured names of 26 companies that are awaiting approval. The list didn't include the name of HDFC MF.


Among the companies awaiting a nod for their IPO include Lodha Developers, Mazagon Dock and Srei Equipment Finance. As per Sebi’s website, the IPO of Lodha Developers, country’s leading real estate company, has been “kept in abeyance for examination of past violations.”

Get Live - HDFC Bank Stock Price

JMC Projects surges 10% on orders win worth Rs 19.66 billion

Stock Market - Shares of JMC Projects (India) have moved higher by 10% to Rs 579 per share on the BSE in intra-day trade after the company said it has secured new orders worth Rs 19.66 billion.
“JMC led consortium has secured two turnkey projects under Micro Lift Irrigation Scheme worth Rs 26.50 million from Narmada Valley Development Authority (NVDA) in Madhya Pradesh. The share of JMC in these projects is around Rs 16 billion,” the company said in a press release.

The company secured second order worth of Rs 3.66 billion for the construction of township for National Mineral Development Corporation (NMDC) in Chhattisgarh, it added.

Commenting on securing new orders, S. K. Tripathi (CEO & Dy. Managing Director) said, “the water projects being low capex oriented will help us further augment our return ratios. Overall, our robust and well diversified order book gives us confidence to deliver on our growth targets of 15-20% for financial year 2018-19.”

Get Live - JMC Projects Stock Price

Videocon, Gitanjali Gems among 430 stocks trading below their face value

Stock Market - A sharp correction in small-cap stocks over the past few months has pushed 430 actively traded stocks on the Bombay Stock Exchange (BSE) below their respective face value, as compared to 336 scrips at the beginning of calendar year 2018 (CY18).

Gitanjali Gems, Videocon Industries, Jai Balaji Industries, GTL, Orchid Pharma, IVRCL, Jaypee Infratech, PBA Infrastructure, Gammon Infrastructure Project, Tantia Constructions, ABG Shipyard, Shilpi Cable Technologies, Hindustan Dorr-Oliver, Andhra Cements, Burnpur Cement and Tree House Education are some of the prominent stocks quoting below their respective face value.

Thus far in CY18, both the S&P BSE Small-cap and the S&P BSE Midcap indices have underperformed by falling 15 per cent and 12 per cent respectively, as compared to four per cent rise in the S&P BSE Sensex.

Gitanjali Gems, Diamond Power Infrastructure, KSK Energy Ventures, IVRCL and Jaypee Infratech from the S&P BSE Smallcap and S&P BSE 500 index companies, have seen market price erosion of more than 75 per cent thus far in CY18.

Get Live  - Videocon Stock Price

Tata Motors' market-cap falls below that of Bajaj Auto, Eicher Motors

Stock Market - Tata Motors market capitalisation (market-cap) has fallen below that of Bajaj Auto and Eicher Motors after a 10% decline in the market price of the company amid concerns over auto tariff threat by the US.

At 01:33 pm; Tata Motors market-cap stood at Rs 799.65 billion, lower than Bajaj Auto (Rs 812.19 billion) and Eicher Motors (Rs 799.71 billion), the BSE data shows.

However, if one includes the Tata Motors DVR market cap of Rs 84 billion, the truck maker would still rank third, after Maruti Suzuki India (Rs 2.68 trillion) and Mahindra & Mahindra (Rs 1.13 trillion).

Tata Motors slipped 5% to Rs 276, falling 10% in past two trading sessions from Rs 308 on Friday. The stock trading at its lowest level since February 12, 2016, declined 36% thus far in the current calendar year 2018. On comparison, the S&P BSE Sensex was up 4% during the same period.

Get Live - Tata Motors Stock Price

Jindal Steel's units in South Africa file for bankruptcy protection

Stock Market - South African units of Jindal Steel & Power Ltd. filed for a local form of bankruptcy protection known as business rescue this month.

Jindal Mining SA, Jindal Africa Investments and Eastern Solid Fuels filed notice of the voluntary proceedings on June 12, according to documents posted on Jindal Africa’s website. A spokesman for the company didn’t immediately reply to emails seeking comment.

Jindal Mining SA’s main business is coal production at the Kiepersol mine, according to one of the documents. Business-rescue practitioners for the unit have scheduled a meeting with creditors for June 26.
Jindal Africa also has operations in Botswana, Mozambique, Namibia, Zambia, Tanzania and Madagascar.
Jindal Steel & Power, the Indian steelmaker controlled by billionaire Savitri Jindal’s family, manufactures sponge iron, mild steel, and cement. It also produces power, conducts mining operations for iron ore and coal, and explores for natural gas and oil.

Check Live - Jindal Steel Stock Price

Fortis defers approval of Q4 results, board meeting to reconvene today

Stock Market - Newly-appointed board of Fortis Healthcare, which is in the process of finding an investor, has again deferred approval of quarterly and annual financial results for the period ended March 31, 2018, saying the issue requires more deliberation.

The board, which met on June 25 for considering results, will reconvene on Tuesday.

"This is to inform that the Board of Directors of the company held a meeting on June 25, 2018, for considering the standalone and consolidated annual accounts for 2017-18 along with the financial results for the quarter and period ended March 31, 2018.

"The members of the board deliberated upon the same and had a detailed discussion with the management, legal advisors and the statutory auditors," Fortis said in a regulatory filing.

It further said in view of the ongoing discussions on the annual accounts, which requires further deliberation, the board decided to adjourn the meeting to be reconvened today.

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Patanjali's entry was a blessing in disguise: Dabur India CEO Sunil Duggal

After being cornered by Patanjali and macro-headwinds, ayurveda major Dabur is pulling up its socks. With better sales and improved margins, the firm is now looking to leverage the renewed popularity of ayurveda, mostly ignited by rival Patanjali.

Sunil Duggal, chief executive officer, Dabur India, shares his plans and insights with Arnab Dutta. Edited excerpts: Dabur’s sales have improved in recent quarters. What worked for you? Towards the end 2016-17 and early 2017-18, we had our back to the wall due to a number of factors such as subdued demand, demonetisation and ...Read Full Story

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Bharti Airtel announces senior leadership appointments for its B2B unit

Stock Market - Country's top telecom operator Bharti Airtel has announced senior leadership appointments for its B2B unit.

Ajay Chitkara has been appointed as Director and CEO, Airtel Business to spearhead the domestic and global enterprise business as one unit.

Chitkara will continue reporting to Gopal Vittal, MD and CEO, Bharti Airtel.

Airtel also announced the appointment of Pankaj Miglani as CEO - Global Business. Miglani will report to Ajay Chitkara. In his previous role, Miglani was CFO, Bharti Infratel and played a key role in the company's IPO in 2012.

Chitkara has been with Airtel since 2001 and is credited with building brand Airtel in the global wholesale segment. In his previous role as Director & CEO, Global Business and Nxtra, he was responsible for creating business strategies for Carriers, Global Enterprise and OTT segments, and implementing them globally through the regional teams. Under Chitkara's leadership, Global Business grew in topline to become a billion-dollar business, while EBIT margins jumped five-fold since 2013.

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Bharti Airtel announces senior leadership appointments for its B2B unit

Stock Market - Country's top telecom operator Bharti Airtel has announced senior leadership appointments for its B2B unit.

Ajay Chitkara has been appointed as Director and CEO, Airtel Business to spearhead the domestic and global enterprise business as one unit.

Chitkara will continue reporting to Gopal Vittal, MD and CEO, Bharti Airtel.

Airtel also announced the appointment of Pankaj Miglani as CEO - Global Business. Miglani will report to Ajay Chitkara. In his previous role, Miglani was CFO, Bharti Infratel and played a key role in the company's IPO in 2012.

Chitkara has been with Airtel since 2001 and is credited with building brand Airtel in the global wholesale segment. In his previous role as Director & CEO, Global Business and Nxtra, he was responsible for creating business strategies for Carriers, Global Enterprise and OTT segments, and implementing them globally through the regional teams. Under Chitkara's leadership, Global Business grew in topline to become a billion-dollar business, while EBIT margins jumped five-fold since 2013.

Get Live Stock Price Of Bharti Airtel

Bharti Airtel announces senior leadership appointments for its B2B unit

Stock Market - Country's top telecom operator Bharti Airtel has announced senior leadership appointments for its B2B unit.

Ajay Chitkara has been appointed as Director and CEO, Airtel Business to spearhead the domestic and global enterprise business as one unit.

Chitkara will continue reporting to Gopal Vittal, MD and CEO, Bharti Airtel.

Airtel also announced the appointment of Pankaj Miglani as CEO - Global Business. Miglani will report to Ajay Chitkara. In his previous role, Miglani was CFO, Bharti Infratel and played a key role in the company's IPO in 2012.

Chitkara has been with Airtel since 2001 and is credited with building brand Airtel in the global wholesale segment. In his previous role as Director & CEO, Global Business and Nxtra, he was responsible for creating business strategies for Carriers, Global Enterprise and OTT segments, and implementing them globally through the regional teams. Under Chitkara's leadership, Global Business grew in topline to become a billion-dollar business, while EBIT margins jumped five-fold since 2013.

Get Live Stock Price Of Bharti Airtel

NCLT stays Reliance Infratel asset sale to Jio until further orders

Market - The Mumbai bench of the National Company Law Tribunal (NCLT), on Monday evening, stayed the sale of Reliance Infratel Ltd’s (R-Infra) assets until further orders. The NCLT also dismissed petitions filed by Reliance Infratel which sought to put a stop to the tribunal’s hearings on the proposed sale of its assets to a third-party, in lieu of debt resolution.

Reliance Infratel is a subsidiary of Anil Ambani led Reliance Communications (RCom). The company plans to sell its assets, through a binding agreement, to Reliance Jio Infocomm Ltd (RJio) as per a debt resolution plan approved by lenders in December 2017. Reliance Jio is controlled by Mukesh Ambani, Anil Ambani’s older brother.

The NCLT Mumbai bench heard the petition filed by the overseas investors of Reliance Infratel, wherein the lead petitioner in the case HSBC Daisy Investments (Mauritius) Ltd, who along with the other shareholders, has alleged oppression of minority shareholders and mismanagement under Section s397 and 398 of the Companies Act, 1956.

Reliance Infra Stock Price

Dabur, other FMCG firms approach court over GST input tax credit

Share Market - FMCG big guns such as Dabur moved court against the denial of input tax credit relating to capital goods lying in stocks before the introduction of the goods and services tax (GST) in July last year.

The matter was being heard in the Uttarakhand high court.

But, now Dabur and other big FMCG players have filed their petitions in the matter, sources said.

Under the erstwhile tax regime, capital goods that went into the production of goods in states that used to give area-based exemptions were not given input tax credit.

However, now these goods have moved to the taxable category under the GST. Capital goods bought before July 1 last year but used for goods sold after the GST roll-out are not given input tax credit.

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Capacit'e Infraprojects, Tata Projects consortium bags Rs 117-bn MHADA deal

Stock Market - Construction firm Capacit'e Infraprojects in a consortium with Tata Projects and CITIC Construction has bagged an order worth Rs 117 billion from the Mumbai Housing and Area Development Board.

"The project will be executed through a special purpose vehicle in which Capacit'e Infraprojects Ltd will have 37.1 per cent share worth Rs 43.57 billion," the company said in a BSE filing.

The share of Tata Projects Ltd in the consortium will be 36.9 per cent and CITIC Construction Co Ltd will have 26 per cent stake.

The project includes technical designing, co-ordination and construction of rehabilitation, sale, commercial, any other structure along with construction of habitable temporary transit camps for the redevelopment of project of BDD Chawls located at Lower Parel Division at Worli in Mumbai, it added.

Capacite Infra Stock Price

JSW Steel to invest up to $500 mn to acquire, upgrade Acero Junction Inc

JSW Steel today said it will invest up to USD 500 million (about Rs 3,390 crore) to acquire, upgrade and enhance US-based integrated steel manufacturing unit Acero Junction Inc in phases.

Acero Junction Inc, an integrated steel manufacturing unit with a potential capacity of 3 MTPA (million tonne per annum), is located in Ohio. The proposed investment will be made in two phases.

"This investment takes JSW's overall investment blueprint for the US market, to produce American melt and manufactured steel, to up to USD 1 billion," the company said in a regulatory filing.

In phase 1, JSW will revamp and restart the electric arc furnace and the slab caster, and modernise the hot strip mill.

The proposed investment, including the cost of acquisition, is expected to be approximately USD 250 million.

Check Share Price Live - JSW Steel

Sun TV Network: Rebound in viewership, market share unlikely in near term

Sun TV Network's stock has shed 12 per cent since its high earlier this month, as increased competition in its core markets have resulted in viewership hitting lifetime lows. The share of the company's flagship Tamil general entertainment channel continued to slide, from 44 per cent in April to 42.4 per cent in May and, to 40 per cent now.

This was closer to 55 per cent a year before. This has been eroded by higher competition in the segment from Zee (Zee Tamil), Star Vijay and Colors Tamil. This loss in share, over the previous year as well, has played out in ...Read Full Story

Doing whatever is necessary to safeguard investor interests: Ajay Tyagi

AJAY TYAGI, chairman of the Securities and Exchange Board of India (Sebi), spoke on various issues while addressing the media following the board meeting. Edited excerpts: Additional surveillance measures (ASMs) The ASMs are for protection of investors.

Some of them have to come suddenly to contain volatility in the stock Alleged leak of stocks in the ASM list We are conducting our own enquiry and stock exchanges are conducting a probe on their end. We have taken some decision on the collective action. If anyone is found guilty, we will take stern ...Read Full Story

BoA ML downgrades FMCG stocks to 'underweight' from 'overweight'

Bank of America Merrill Lynch (BoA ML) has downgraded stocks in the fast moving consumer goods (FMCG) space from 'overweight' to 'underweight'. The foreign brokerage says valuations of Indian staples have soared, diverging from their global peers. "Multiples for Indian staples have defied gravity recently.

They have increased even as multiples for staples in the emerging markets (EM) are flat to falling. This is not typical," Sanjay Mookim and Nafeesa Gupta, analysts at BoA ML, wrote in a note. The BSE FMCG index, a gauge for the performance of consumer ...Read Full Story

RBI purchases bonds worth Rs 100 billion from the secondary market

The Reserve Bank of India (RBI) has bought Rs100 billion worth of bonds from the secondary market under its open market operations (OMO) programme. This was the second OMO purchase this year, and something that the market was widely expecting, considering the banking liquidity reducing to neutral levels.

OMOs infuse durable liquidity in the banking system. The RBI did not buy anything from the bonds maturing in 2026 and 2029, but bought some amount from a loner period bond maturing in 2032, at 8 per cent, five basis points lower than the market rate. Read Full Story

Fifa World Cup 2018: Today's match schedule, live streaming for Thursday

Fifa World Cup 2018 is getting more excited with each passing day. The 8th day of the Football World Cup 2018 will see Argentina and Croatia playing their 2nd match also featuring Lionel Messi.

Here's the today’s match schedule list:

1st Match: Denmark vs Australia

When and Where to watch:

Time: 5:30 PM (IST)

In today's Group C match, Denmark vs Australia match will take place in Samara on Thursday, June 21, 2018, at 8:30 PM (IST).

Denmark vs Australia match will be broadcast on Sony Ten 2, Sony Ten 2 HD, Sony ESPN, Sony ESPN HD in English Commentary and Sony Ten 3 and Sony 3 HD in Hindi Commentary.

2nd Match: France vs Peru

When and Where to watch: France vs Peru

Time: 8:30 PM (IST)

In today's Group C match, France vs Peru match will take place in Yekaterinburg on Thursday, June 21, 2018, at 5:30 PM (IST).

France vs Peru match will be broadcast on Sony Ten 2, Sony Ten 2 HD, Sony ESPN, Sony ESPN HD in English Commentary and Sony Ten 3 and Sony 3 HD in Hindi Commentary.

France vs Peru match will be available for live streaming on Sony Liv also. And Both Airtel and Jio would broadcast the FIFA World Cup 2018 matches for free to their respective subscribers.