Tag: Stocks

Corporate India focuses on political stability, centre-state relations as BJP sweeps Karnataka

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

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Corporate India reacted positively to the BJP’s win in the Karnataka assembly elections on Tuesday. The national party, was leading in 114 seats according to the Election Commision website.

The incumbent Congress party was a distant second, with a lead in 64 seats. Janata Dal (Secular), which was expected to play the role of a “kingmaker,” was leading in about 40 seats.

The BSE Sensex, which hit a peak of 35,979.6 points in morning trade, pared gains to trade up 0.65% at 12:35 IST. The NSE Nifty was trading up 0.60% at 10,871.95 points.

Kiran Mazumdar Shaw, Chairman and MD of Biocon, said the victory would ensure that Bengaluru would not be neglected by the central government.

#OnCNBCTV18| @kiranshaw, CMD, Biocon says clear @BJP4India win means there will be better alignment between centre & states #BJPWinsKarnataka pic.twitter.com/XieP6RvRRe

— CNBC-TV18 News (@CNBCTV18News) May 15, 2018

“Bengaluru has been ignored by the centre for long, a clear BJP win means there will be better alignment between the centre and states,” Shaw told CNBC-TV18.

Ace investor Porinju Veliyath took to Twitter to say deserving mid and small-cap stocks could bounce back strongly, after about four months of significant underperfprmance.

#Karnataka – definitely a boost to market sentiment. After 4 months of significant underperformance, ‘deserving’ mid and small-caps are likely to bounce back strongly!

— Porinju Veliyath (@porinju) May 15, 2018

Japan-based Mizuho Bank said prime minister Narendra Modi’s popularity had made the difference in the outcome of the assembly elections, and added the result shows national politics had the power to sway local politics as well.

The retail bank said it had had favourable expectations for the BJP going into the 2019 Lok Sabha election cycle.

Mizhuo however added that the country would see an impact on inflation due to rising crude prices.

Swiss private banking group Julius Baer said political stability was desirable from the perspective of a foreign investor, while Ambit Capital said the absolute majority obtained by the BJP pushed back chances of an early national election next year.

#OnCNBCTV18| Bank Julius Baer says from a foreign investor perspective, political stability is encouraging & Ambit Capital says clean win by @BJP4India pushes back chances of an early national election@latha_venkatesh @_soniashenoy #BattleForKarnataka #ElectionsWithNews18 pic.twitter.com/lNS7fu3zag

— CNBC-TV18 News (@CNBCTV18News) May 15, 2018

The Karnataka election was the “most expensive ever” assembly poll in the country in terms of money spent by political parties and their candidates, according to an analysis by a research organisation.

The Centre for Media Studies, which describes itself as a not-for-profit, multi-disciplinary development research and facilitative think-tank on its website, has described the electoral exercise as “money guzzler”.

According to the CMS, the money spent by various political parties and their candidates in the Karnataka assembly polls is in the range of Rs 9,500-10,500 crore, which is more than twice of what was spent in the previous assembly poll in the state in 2013.

(With inputs from PTI)

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 opens flat amid political uncertainties; HDFC Life dips 5%

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

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The market has opened flat amid the political uncertainties ahead of the Karnataka elections results.

The BSE Sensex opened at 35,567 points and the NSE Nifty at 10,800 points. The HDFC life stock has dipped more than 5% in the opening trade.

The investors are trading cautiously ahead of the elections, for the second consecutive session.

Oil marketing companies along with HCL Tech and Tata Motors are the top index losers. The OMCs are losing in trade after the fuel hike. The fuel hike came after the Karnataka polling.

The Hindustan Unilever stock is among the top gainers today after posting robust quarterly results.

Karnataka election results are expected to be announced today where the exit polls suggested a hung assembly for the key southern state, with majority suggesting BJP becoming the single-largest party and JD(S) as a kingmaker.

Lupin, Britannia, Reliance Communications, PNB, will declare their quarterly results today.

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

Closing Bell: Market erased gains ahead of Karnataka election results; PNB slips 6% post Q4 earnings

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

Listen to the Article (6 Minutes)

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 15: Here are the top stocks to watch out for

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

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The market closed mixed ahead of Karnataka election results where the exit polls suggested a hung assembly for the key southern state. A majority of the polls suggested BJP could become the single-largest party, while JD(S) could emerge as the kingmaker.

Here are the top stocks to watch out for today

• Lupin, Britannia, Reliance Communications, PNB, among others, will declare their quarterly results today.
• Jet Airways: Full-service international passenger carrier Jet Airways on Monday said that it will commence services under the air regional connectivity (RCS) — UDAN — scheme from next month.
• Bharti Airtel: The government has approved the Bharti Airtel-Telenor merger.
• Allahabad Bank: State-run Allahabad Bank on Monday said that the Reserve Bank of India has advised certain addition actions against the lender in view of its capital adequacy and leverage ratio position, after the apex bank had imposed prompt corrective action (PCA) on it.
• HUL: Hindustan Unilever Limited (HUL), one of the leading consumer durable company in India, posted a net profit of Rs 1,351 crore in the fourth quarter of 2018, beating CNBC-TV18 poll estimates by 1%.
• Fortis: The board of directors of Fortis Healthcare Limited has received a revised offer from Manipal and TPG with a proposal to invest in the company, Fortis said in a filing to the BSE.
• JSW Steel: The acquisition of Monet Ispat by the consortium of AION Investment Private II Limited and JSW Steel Limited, was approved by the Competition Commission of India (CCI), wherein the consortium will own 75% share capital of the debt-ridden company.
• Mphasis:  The selling of big block was to create more liquidity in the stocks and the company still retains its controlling position, said, Nitin Rakesh, ED and CEO, Mphasis. Mphasis saw a big block deal on Monday morning as promoter Blackstone sold 8% stake at Rs 960 per share.
• MSCI has made four additions – Interglobe Aviation, Avenue Supermarts, Pidilite and Power Grid Corp – and five deletions – ACC, IDFC Bank, PFC, Tata Motors DVR and Vakrangee from its India index.

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

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

Listen to the Article (6 Minutes)

The market had closed mixed ahead of Karnataka election results, where the exit polls suggested a hung assembly for the key southern state.

Here’s what you should know before the opening bell

• Asia stocks pulled back on Tuesday, after an uninspiring performance on Wall Street eclipsed support from US-China trade optimism, while supply concerns kept crude oil prices near 3-1/2-year highs. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.16 percent after rising 0.6 percent the previous day to its highest since late March.
• Karnataka election results are expected to be announced today where the exit polls suggested a hung assembly for the key southern state, with majority suggesting BJP becoming the single-largest party and JD(S) as a kingmaker.
• The annual wholesale price inflation accelerated in April, helped by higher fuel and food product prices, government data showed on Monday. Annual wholesale price inflation last month rose to 3.18% from a year earlier as against the CNBC-TV18 poll of 2.92%. WPI inflation rose 2.47% in March.
• The consumer price index (CPI) inflation rate for April 2018 rose to 4.58% against March’s 4.28%, showed a data by the Ministry of Statistics and Programme Implementation. The retail inflation rate marginally up due to higher oil prices compared to previous month.
• Oil prices held firm on Tuesday as ongoing production cuts by OPEC and looming US sanctions against Iran tightened the market amid strong demand.
• The government on Monday held detailed discussions with telecom operators and airlines on framing guidelines for in-flight data and voice services, sources said.
• The SGX Nifty trades at levels around 10,789 as against the Nifty May Future’s Monday close of 10,814, indicating a tepid opening for the Indian market.
• MSCI has made four additions – Interglobe Aviation, Avenue Supermarts, Pidilite and Power Grid Corp – and five deletions – ACC, IDFC Bank, PFC, Tata Motors DVR and Vakrangee from its India index.
• Lupin, Britannia, Reliance Communications, PNB, will declare their quarterly results today.

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

Political uncertainties amid Karnataka election results likely to keep market in check; Lupin to declare quarterly results

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

Listen to the Article (6 Minutes)

The market is likely to be in check due to the political uncertainties amid the Karnataka election results. The results are expected to be announced today.

The market had closed mixed ahead of Karnataka election results where the exit polls suggested a hung assembly for the key southern state, with majority suggesting BJP becoming the single-largest party and JD(S) as a kingmaker.

The investors seemed to be cautiously trading a day ahead of the results which had led to the major indices closing mixed.

The Nifty closed with a gain of 0.1 points at 10,807, while the Sensex advanced 21 points to 35,557.  Midcaps continued to underperform, with the leading Index slipping 232 points to 19,275. Banking-dominated index, Nifty Bank, has been relatively the outperformer. The Index edged up 62 points to 26,475.

On the global front,  Asia stocks pulled back on Tuesday, after an uninspiring performance on Wall Street eclipsed support from US-China trade optimism, while supply concerns kept crude oil prices near 3-1/2-year highs.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.16 percent after rising 0.6 percent the previous day to its highest since late March.

Australian stocks inched up 0.05 percent, South Korea’s KOSPI shed 0.05 percent and Japan’s Nikkei was flat.

Wall Street scraped out gains on Monday after weakness in defensive stocks offset optimism following US President Donald Trump’s conciliatory remarks toward China’s ZTE Corp that helped calm US-China trade tensions.

On the earnings front, Lupin, Britannia, Reliance Communications, PNB, will declare their quarterly results today.

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