Market

DLF declines 8% on report of block deal trade DLF  shares fell 8.4 percent to close at Rs 184.60 on April 8 after a media report highlighted a block deal trade in morning. About 6.8 crore shares (representing 3.8 percent of total paid-up equity) of the company changed hands on NSE in a single block deal at Rs 192.65 per share, reports CNBC-TV18. The deal was worth Rs 1,311 crore DLF's group Chief Financial Officer Ashok Tyagi recently said the QIP proceeds and further infusion of Rs 2,500 crore from promoters against the issue of warrants would help the company significantly reduce the debt that stood at around Rs 7,200 crore as on December 31, 2018. DLF promoters K P Singh and family have already infused Rs 9,000 crore in the company and would pump in Rs 2,250 crore more.

An evening walk down D-St: Investors book profits at higher levels; IT gains as rupee weakens S&P BSE Sensex fell by 341 points from its intraday high of 39,041 as investors preferred to book profits ahead of earnings. Valuation premium and the recent surge in crude oil prices also put investors on the sidelines. Crude oil prices are trading at a 5-month high driven upwards by OPEC’s ongoing supply cuts, US sanctions against Iran and Venezuela, fighting in Libya as well as strong US jobs data, said a Reuters report. Brent Crude has ralliedhere was a feeling among the participants that markets fell after ruling BJP released its manifesto for the general elections, but experts feel that wasn’t the case. BJP manifesto touched upon doubling farmers’ income by 2022. The government also announced pension for small and marginal farmers on reaching 60 years of age. It was largely on predicted lines. over 30 %

GLOBAL MARKETS-Investors hit pause as ECB and Brexit risks loom In a document published on the central government's website late on Sunday, Beijing said it would step up a policy of targeted cuts to banks' required reserve ratios to encourage financing for small and medium-sized businesses. exports and imports both fell more than expected in February, data showed on Monday, in the latest sign that Europe's largest economy will likely have meagre growth in the first quarter amid increased headwinds from abroad. DAX  .GDAXI  fell 0.3 percent, while traders said volumes were very low for this time of day. "Feels very much like a buyers' strike," said one dealer. Markets have had a stellar first quarter, the best in more than eight years for the MSCI All-Country World index. "Today's very minor move down has to be seen in light of recent developments," said Britta Weidenbach, head of European equities at DWS. "We're back at the le

Tech View: Nifty forms Bearish Engulfing pattern as bears gain upper hand   NEW DELHI: Nifty50 could barely hold the 11,600 level on Monday, as the index formed a Bearish Engulfing pattern on the daily chart. Analysts said that Tuesday’s trading could be crucial, as it may set the tone of market in the coming sessions.  A move below 11,550 will trigger more corrections, dragging the index towards 11,465-11,420 levels. But a trade above 11,650 may trigger short covering rally towards 11,700-11,760. For resumption of the bull trend, a close beyond 11,760 is required; otherwise bears may take control of the market and push Nifty down gradually,” said Aditya Agarwala of YES Securities. 

Mukesh Ambani sets out to change the face of Indian cities, first project already on Reliance IndustriesNSE -1.82 % is tying up the last loose ends in its blueprint for setting up a megacity in the vicinity of Mumbai, a Business Standard story has revealed  It is going to be Reliance Group's single biggest "projects within a project" initiative, where every component of a project will be a project in itself, BS quoted an inside source as saying. 

The economic news headlines would largely be dominated by growth fears and measures to revive them in FY20, the performance of asset prices would be better albeit with elevated volatility, said Vaibhav Sanghavi of Avendus Capital During this time, a lower interest rate environment along with very supportive liquidity has helped asset prices. On the back of global growth fears returning, going forward, I believe that interest rates will top out, inflation would remain benign and liquidity accommodative. Amid this, India’s growth is expected to be robust on the back of consistent consumption and revive investments. The corporate earnings outlook is much better than in the previous five years, led by banking and financials. This all augurs well for the Indian market to perform better than global peers in the next few years.

Mazhar Mohammad said for the time being, upsides shall get capped around 11,760 where a potential double top can be expected if bulls are unable to breach the said level in next couple of trading sessions Nifty50 made its new high of 11,761 on April 3 morning, but wiped out all gains in last hour of trade. Traders turned cautious after Skymet forecast below normal monsoon. Market participants are also eyeing RBI interest rate decision due April 4. The index closed below 11,700 and formed 'Bearish Engulfing' pattern after two Doji candles on daily scale. A Bearish Engulfing Pattern consists of two candles. One candle is usually a small candle which is followed by a large black or red candlestick pattern that engulfs the short one or the previous candle. A bearish candlestick pattern suggests that bears were able to regain control. It is usually seen as the end of an uptrend but if index breaks below its crucial support level of 11,550, selling pressure could acc

t's the second Wednesday of Indian Premier League (IPL) 2019 and a potential blockbuster is on the cards. Two of the most successful teams in IPL -- Mumbai Indians and Chennai Super Kings are meeting at the iconic Wankhede Stadium. CSK and MI are at the opposite ends of IPL 2019 points table as the two teams are gearing up to play their fourth matches. MS Dhoni's men have headed to Mumbai on the back of three successive wins while Mumbai have lost two in three. After an eight-wicket thrashing against Kings XI Punjab in Mohali, MI are hoping to return to winning ways after a three-day break. The clash between the three-time champions usually creates a lot of buzz and Wednesday's clash is no different. Chennai Super Kings off-spinner Harbhajan Singh, who is gearing up to face his former club, has likened the duel between the  two teams to India-Pakistan clashes . On the other hand, Mumbai Indians skipper Rohit Sharma has said he could get the feel of an El Clasico whe

Shares of Amara Raja Batteries Ltd (ARBL) plunged nearly 7 per cent and were trading close to 52-week low in intra-day trade on Wednesday after the company terminated agreement between Galla Family Johnson Controls (Mauritius) and Johnson Controls Battery Group. As a result of this, the Gala family has taken control of the company. Amara Raja Batteries has informed the exchange regarding the termination of shareholders agreement between Galla Family and Johnson Controls (JC) and consequent termination of other agreements entered by the Company with JC," the company said in a statement. Weighed down by the development, shares of auto ancillary company declined as much as 6.66 per cent to hit an intra-day low of Rs 672.10 apiece, close to its 52-week low value of Rs 670.65 touched on December 11, 2018. According to data available with exchange, as much as 1.87 lakh shares changed hands on the BSE so far as compared to two-week average of 0.40 lakh shares. In a

In the first week of October 2018, as the southwest monsoon retreated from south Karnataka, the  Bandipur Tiger Reserve , located 80 km south of Mysuru, was a sight to behold. Nature lovers flocked to take in its endless vistas of hillocks draped in a canopy of green. The Bandipur Tiger Reserve is flanked by the Wayanad Wildlife Sanctuary in Kerala and the Mudumalai Tiger Reserve in Tamil Nadu. It is home to nearly 570 tigers, according to the ‘Status of Tigers in India, 2014’ report by the National Tiger Conservation Authority. These tigers share the forest with elephants, dholes, leopards and other mammals, making the tiger reserve an ecological hotspot. But this idyll began to change by the end of December. When the northeast monsoon failed, it set alarm bells ringing in the Forest Department. Ambadi Madhav, then Field Director of the Bandipur Tiger Reserve, began to worry. “The forest looks luxurious, but it could become an inferno this summer. The abundance of leaf litter an

Vaddy fishing village seems quite abuzz as the morning sun beats down on the beach. Many fishermen have returned after their midnight sortie and stand huddled together discussing a bad catch and a wicked weather. Inside the colony are other groups engaged in animated chatter, the Lok Sabha polls often dominating the conversation. As 64-year-old Thresya launches into her favourite refrain, “whichever party comes to power we are left to rot”, for the third time, Jaya intervenes. “Our situation has changed over the years, we have liveable homes now and our kids go to college. We still look forward to a lot of changes, but no, we are not a very miserable lot,” she says. Lal, a union member, is quick to agree. “You are getting subsidy for kerosene, your pension has doubled and the State government is now offering interest-free loans as well. You have no right to complain,” he says. But there are still murmurs about yet-to-start housing projects and infrastructure issues. Neglect all

Avoid direct sunlight between 11 a.m. and 3 p.m. and carry water The district authorities has issued a sunstroke alert in view of the India Meteorological Department (IMD)’s forecast that the maximum temperature in 11 districts, including Kasaragod, will go up by two to three degrees Celsius on April 3. The other districts are Thiruvananthapuram, Kollam, Pathanamthitta, Kottayam, Idukki, Ernakulam, Thrissur, Malappuram, Kozhikode, and Kannur. An official press release here on Tuesday urged the public to take extra care and follow these measures to avert sunstroke: avoid direct sunlight between 11 a.m. and 3 p.m.; carry water in bottles to avoid dehydration; drink water in sufficient quantity and avoid drinking liquor, coffee, and tea during daytime; and wear loose cotton clothes. Special care Schools and parents were called on to take care to ensure that children were not exposed to direct sunlight between 11 a.m. and 3 p.m. The district authorities said that on da

Taxmen in 22 countries worldwide have raked in more than $ 1.2 billion in fines and back taxes thanks to the 2016 "Panama Papers" leak of information about offshore dealings, media reported Wednesday. Britain has recouped some $ 253 million, France $136 million and Australia $93 million, the International Consortium of Investigative Journalists (ICIJ) posted on its website. German newspaper Sueddeutsche Zeitung -- which received the massive leak of documents from Panamanian law firm Mossack Fonseca on which the investigation was based -- reported Berlin has reaped $ 183 million from related tax probes. "While recouping the proceeds of hidden assets helps to fund vital government services, there is a growing sentiment that the enduring legacy of the Panama Papers will be its effect on behaviour and public attitudes," the ICIJ said. Tax authorities have scrambled to respond to the massive tax evasion system that the leak revealed was organised through Mos

Mumbai: The Reserve Bank of India (RBI) could revise its bankruptcy circular to ensure that an amended version of the directive complies with norms, although the regulator cannot dictate a blanket order for taking all companies above a threshold to insolvency courts, lawyers said.  On Tuesday, the Supreme Court quashed the RBI’s February 12, 2018 circular, putting a 180-day deadline to refer bad loan accounts over ?2,000 crore to The central bank is unlikely to challenge the SC order.   “We do not want to challenge an order which is already passed now. Our legal team is studying the order minutely and we may decide on the future course of action depending on that. The governor will meet the press after the policy announcement on Thursday where he may address the issue,” said a senior RBI official.  Lawyers, however, believe that Tuesday’s judgement will not affect cases filed before the February 12 circular was announced.  “This judgement will affect the applications filed so

The government and the Reserve Bank will have to bring in a new set of regulations to ensure that borrowers repay their debt on time following the Supreme Court striking down an earlier rule of the monetary authority, Niti Aayog chief executive Amitabh Kant said Wednesday.  Amidst a rash of announcements over income support schemes, the bureaucrat also stressed on the need to ensuring higher growth to fund such dole-outs.  With the Supreme Court striking down (the February 12, 20 ..  The unexpected ruling by a single judge bench of Rohinton Nariman has put a big question mark on the resolution of 70 large accounts which together owe the system over Rs 3.8 lakh crore.  The ruling came on a petition filed by 34 power companies which alone owe Rs 2.3 lakh crore to banks.  Legal and industry experts have voiced concern over the order, stating that there was a marked change in borrowers behaviour after the circular was issued which would now change for the worse.  .. 

Sa Nuclear power sector is a highly technology intensive industry wherein execution expertise is very essential. NEW DELHI: Infrastructure firm  Tata Projects Wednesday said it has bagged order worth around USD 321 million from  Nuclear Power Corporation of India ( NPCIL ). "This 2X700 MW  power plant  order valued around USD 321 million is the company's third contract in the nuclear power sector," Tata Projects said in a statement. The scope of work involves construction of main plant buildings and structures, among others. "Once completed, this project will provide much needed power supply...and ensure developmental initiatives receive an impetus. Tata Projects believes that nuclear projects provide a clean source of power thereby ensuring a more environment friendly future," Tata Projects COO - Industrial Systems-  Satyanarayana K  said. Nuclear power sector is a highly technology intensive industry wherein execution expertise is very ess

Meet Nirav's A-Team that may have helped him pull off Rs 14,000-cr scam How did fugitive jeweller  Nirav Modi  pull off what he is accused of — the country’s biggest  banking  fraud at Punjab  National  Bank, worth over Rs 14,000 crore — without an army of trusted lieutenants while keeping his moves under wraps? After all, he employed over 2,200 people and it’s a matter of conjecture as to why someone didn’t blow the whistle earlier. It turns out that while his family council was involved, he also — according to a report submitted to a US Bankruptcy Court by an appointed examiner — had a highly organised core management team. The common denominator: They were predominantly Gujarati, mostly male, and either related by blood or very well-known to Nirav. The family: Nishal Modi who was his half-brother and in charge of diamond trading was a director and has a look out notice on him and is wanted by the authorities. Nehal Modi, Nirav’s other brother in New York was report

Bitcoin at 4-month high as cryptocurrency market suddenly springs to life The cryptocurrency briefly topped $5,000 and the value of digital assets tracked by CoinMarketCap.com jumped by about $17 billion in less than an hour An abrupt surge in  Bitcoin  sent the world’s most popular  cryptocurrency  to the highest level since November, jolting the $160 billion market for digital assets after three months of calm. Traders struggled to pinpoint reasons for the rally, though some noted a flood fresh interest after  Bitcoin  breached the $4,200 level. The  cryptocurrency  briefly topped $5,000 and the value of digital assets tracked by CoinMarketCap.com jumped by about $17 billion in less than an hour. Sudden swings in  Bitcoin  are nothing new, but price action had been relatively subdued this year as investors weighed the prospects for mainstream adoption after last year’s 74 percent crash. Market participants say big buy orders in Bitcoin can often lead to o