Tag: Stocks

May 28: Here’s what you should know before the opening bell

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian market began the expiry week on a positive note on Monday with the Sensex and the Nifty closing at 2-week highs.

Here’s what you should know before the opening bell

• The rupee continued its unabated rise for the third-straight day, surging by 35 paise to end at a new two-week high of 67.43 against the US dollar after a surprise crash in crude prices quickly faded near-term trade deficit and inflation worries.
• Oil prices were mixed in early Asian trading on Tuesday, but remained under pressure from expectations that Saudi Arabia and Russia would pump more crude to ease a potential shortfall in supply.
• The central government is all set to announce a long-term solution to the oil price crisis, said Department of Economic Affairs secretary Shubhash Chandra Garg.
• Gold prices fell for a second session on Monday as the US dollar firmed and after US President Donald Trump revived hopes that he would meet North Korean leader Kim Jong Un next month, lowering political tensions and demand for gold as a safe-haven investment.
• On the earnings front, BPCL, M&M, BHEL, BEL, Coal India, Dish TV, Dilip Buildcon, Power Grid, Eveready, Force Motors, Glenmark, among others will declare their quarterly results.
• The fuel prices, however, have increased for the 16th day. The prices are at a record high in Mumbai with petrol price pegged at Rs 86.24 per litre, increased by 16 paise from the previous price and diesel pegged at Rs 73.79 per litre, increased by 15 paise from the previous.
• The Tamil Nadu government on Monday ordered the permanent closure of a copper smelter controlled by London-listed Vedanta Resources after 13 people protesting to demand its shutdown on environmental concerns were killed last week.
• CNG price in the national capital was hiked by Rs 1.36 per kg as input raw material got costlier because of rupee depreciation and rise in natural gas price.
• India said it will continue trading with Iran and Venezuela despite US sanctions against the two countries, asserting that it only recognises UN restrictions.
• Monsoon is never uniformly distributed as several parts of the country gets less rainfall every year. There is an indication that parts of Southern India, specifically North Karnataka might get less rainfall, otherwise monsoon should be fairly good and well spread, Skymet CEO said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

May 29: Here are the top stocks to watch out for today

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The Indian market began the expiry week on a positive note on Monday with the Sensex and the Nifty closing at 2-week highs.

Here are the top stocks to watch out for

• M&M:  Mahindra and Mahindra (M&M) will launch at least three new models and recast its dealer partnerships as it looks to regain market share in the run-up to the festive season, sources said. The firm will also announce its quarterly results today.
• Vedanta: The Tamil Nadu government has ordered the permanent shutdown of Vedanta Resources’ Sterlite plant at Tuticorin on Monday.
• Fortis Healthcare: The company said on Monday it had not decided whether to re-open bidding for itself, after an offer of funding that its board had accepted got a tepid response from investors, prolonging a fierce takeover battle.
• Aurobindo Pharma: The company posted a 0.6% fall in fourth-quarter net profit on Monday that missed analysts’ estimates.
• UltraTech: The lenders of the debt-ridden cement-maker, Binani Cement,  have approved Ultratech Cement’s resolution plan for the company.
• Ruchi Soya:  Ruchi Soya’s lenders are all set to select the highest bidder for the company in five days. The Committee of Creditors will vote on offers from Patanjali Group and Adani Wilmer, sources said.
• Jet Airways: Credit rating firm ICRA has downgraded Jet Airways on the company’s weakened financial performance in the previous quarter.
• Manpasand Beverages: The company hit the lower circuit, trading at a 20% loss after Deloitte resigned as its auditor on Saturday.
• Reliance Communications: The NCLAT will hear the telco’s appeal which seeks a stay on NCLT Mumbai’s order which had allowed an insolvency plea by Ericsson.
• Bank of India: The bank reported a net loss of 39.69 billion rupees ($588.87 million) for the fourth quarter, as the state-owned lender set aside more funds for bad loans.
• L&T: Engineering and construction major Larsen & Toubro on Monday said its consolidated net profit for the March quarter rose 4.7% from a year earlier at Rs 3,167 crore.
• On the earnings front, BPCL, M&M, BHEL, BEL, Coal India, Dish TV, Dilip Buildcon, Power Grid, Eveready, Force Motors, Glenmark, among others will declare their quarterly results.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market likely to keep check amid weak Asian cues, fall in oil prices, rupee recovery

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The market is likely to correct itself in Tuesday’s session amid weak Asian cues, fall in oil prices, increasing fuel prices and rupee recovery.

The Asian markets are trading lower with all the major indices – Japan’s Nikkei, Korea’s Kospi, Taiwan and Hang Seng index – trading almost a percent lower due to the ongoing tensions between the US and North Korea, among other reasons.

The SGX Nifty trades at levels around 10,650 as compared to the Nifty May Future’s Monday close of 10,678.8, indicating a weak opening for the Indian market.

The US market was shut on Monday on the occasion of Memorial Day.

The oil prices are currently trading at a slump with the Brent Crude at $75 per barrel and NYMEX below $67 per barrel.

The fuel prices, however, have increased for the 16th day. The prices are at a record high in Mumbai with petrol price pegged at Rs 86.24 per litre, increased by 16 paise from the previous price and diesel pegged at Rs 73.79 per litre, increased by 15 paise from the previous.

The rupee continued its unabated rise for the third-straight day, surging by 35 paise to end at a new two-week high of 67.43 against the US dollar after a surprise crash in crude prices quickly faded near-term trade deficit and inflation worries.

On the earnings front, BPCL, M&M, BHEL, BEL, Coal India, Dish TV, Dilip Buildcon, Power Grid, Eveready, Force Motors, Glenmark, among others will declare their quarterly results.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sensex and Nifty close at two-week highs as banks outperform

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The Indian market began the expiry week on a positive note. Benchmark indices Sensex and Nifty closed at 2-week highs, with the 30-stock Index, Sensex gaining 241 points to 35,165, while the Nifty surged 83 points to 10,689.

The broader markets relatively outperformed, with the midcap index gaining 264 points to close above 19,000. The Nifty Bank advanced 1.3% or about 341 points to 26,614.

HDFC, L&T & Sun Pharma lifted the market whereas IT majors TCS, Infosys & Tech Mahindra dragged. Sectorally, Financials contributed 39 points to the Index gains while IT dragged 25 points.

On the earnings front, NTPC closed with a gain of over 1% after the PSU company reported profit of Rs Rs 2,926 crore against the poll of Rs 2,663 crore while margin came in lower at 25.6%  against the estimate of 28%. Piramal Enterprises too closed in the green after Q4 earnings that saw profit before tax coming in at Rs 471.5 crore against Rs 407.1 crore in the corresponding quarter. Revenue jumped 22% to Rs 2,991.1 crore.

From the auto ancillary space, GNA Axles reported a strong earnings. Profit of the company jumped 2.5x to Rs 16.4 crore and EBITDA surged 38.5% to Rs 26 crore.

Besides earnings, one stock that was in focus in Monday’s trade was Manpasand Beverages. The stock closed at lower circuit after Deloitee resigned as statutory auditor. Also, company postponed earnings for the January-March quarter.

The company in its filing to exchnages said, “The resignation of Deloitte as auditor & delay in earnings has no correlation. Resignation is only a minor hiccup & it won’t have long-term biz impact.”

In the futures space, major traction was seen in Nifty 10,700 and 10,750 Call options. Both the options saw margin surging by 92% and 74% respectively. In the Put options, 10,600 Put saw its margin slipping by 61%. Nifty May Futures closed with a discount of 13 points against discount of 2.75 points on Friday.

On the global front, Asian markets closed mixed on Monday, following positive weekend news regarding U.S.-North Korea relations. Investors also digested the extended slide in oil prices after top producers indicated output could increase.

The Nikkei 225 eked out gains of 0.1% to close at 22,481 and the broader Topix edged down 0.1%, with the oil subindex falling 4.14% amid weakness in oil prices. South Korea’s Kospi rose 0.7% to 2,479 as weekend developments gave rise to optimism that a US-North Korea meeting in June could take place despite being canceled last week.

Mainland China markets ended the day in negative territory, with the Shanghai composite slipping 0.2% to 3,135. The Shenzhen composite closed 0.2% lower.

US market is shut for trade today on the account of Memorial day while UK Market is closed for late May Bank Holiday.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

May 28: Buy Ceat, Tata Steel & L&T, says Ashwani Gujral

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The latest analysis and commentary by stock market guru Ashwani Gujral on what is moving the markets today.

He spoke at length on Ceat, Tata Steel & Larsen & Toubro (L&T).

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market remains upbeat amid rupee, crude recovery; OMCs gain in trade

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The market, while moving towards the second half of the trading hours, was trading higher with the BSE Sensex at 35,103 points and the NSE Nifty at 10,673 points amid the rupee and crude recovery.

The oil marketing companies, HPCL and BPCL were the top Nifty gainers. While, IT stocks, TCS, HCL Tech, Tech Mahindra and Infosys, were the top losers in trade.

The rupee opened at its two-week high, at 67.52 against the US dollar, marking way for its recovery. The domestic currency was currently trading at 67.41 against the US dollar.

The oil marketing companies rose as the oil prices eased in trade, however, the petrol and diesel prices rose for the 15th day, which is expected to keep the oil stocks in check.

The market opened in the green on Monday with the BSE Sensex trading at 34,0513 points, gaining more than 100 points and the NSE Nifty trading at 10,648 points due to the rupee, crude recovery and the global cues remaining largely strong.

On the earnings front, L&T, Oil India, Aurobindo Pharma, NTPC, NMDC, Bank of India, among others, will declare their quarterly results.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow