Podcasts about dhfl

Deepak and Shray discuss the unexpected quirks and consequences of investing in mutual funds and pooled vehicles in general. The discussion covers how your returns and experiences can be impacted by other investors' actions, including issues with inflows, outflows, cutoff timings, and NAV calculations. Specific cases like DHFL, Yes Bank, and Zee promoter bonds are examined to highlight how complexities in pooled vehicles can affect investment decisions. Additionally, the episode provides insights on how to navigate these challenges and the importance of understanding the nature of pooled investments. 00:00 Introduction  00:43 Understanding Mutual Funds and Pool Vehicles 02:43 Complexities of Pool Vehicles 07:43 Impact of Inflows on Fund Composition 13:18 Challenges with Outflows and Debt Funds 20:00 Timing Issues and NAV Calculations 29:04 ETFs vs Mutual Funds: Arbitrage and Market Behavior 33:01 Case Studies: Yes Bank, DHFL, and Zee Promoter Bonds 37:50 Side Pocketing and Arbitrage 49:12 Investor Strategies and Market Timing Challenges 55:43 Conclusion and Final Thoughts

இந்தியா ஒரு பக்கம் ஏழைகள் நிறைந்த நாடு, இன்னொரு பக்கம் பல்லாயிரம் கோடி மதிப்பிலான நிதி மோசடிகள். இது எப்படிச் சாத்தியம்? நிதி மோசடிகள் எப்படியெல்லாம் நடந்திருக்கின்றன என்பதை ஆழமாகப் புரிந்துகொண்டால்தான், மீண்டும் அப்படி ஒரு நிதி மோசடி நடக்காமல் நாட்டைப் பாதுகாக்க முடியும். இதுவே இந்தப் புத்தகத்தை முக்கியமானதாக்குகிறது. இந்தியாவை அதிரவைத்த முக்கியமான நிதி மோசடிகளையும், அவை எப்படி நிகழ்த்தப்பட்டன என்பன போன்ற விவரங்களையும் துல்லியமாக இந்த நூலில் எழுதி இருக்கிறார் நா.கோபாலகிருஷ்ணன். சத்யம் கம்ப்யூட்டர்ஸ் ஹர்ஷத் மேத்தா நிரவ்மோடி டி.ஹெச்.எஃப்.எல் (DHFL) சாரதா சிட்ஃபண்ட்ஸ் சந்தா கோச்சார் கார்வி கேதன் பரேக் எ.பி.ஜி ஷிப்யார்ட் கிங் பிஷர் நிதி மோசடி மேலே உள்ள முக்கியமான நிதிமோசடிகளை இந்த நூல் ஆவணப்படுத்துகிறது. எழுத்தாளர் நா.கோபாலகிருஷ்ணன் எழுதி சுவாசம் பதிப்பகம் வெளியிட்டிருக்கும் புத்தகத்தின் ஒலிவடிவம் கேட்போம். Author: N. Gopalakrishnan Narrator: Sri Srinivasa Publisher: Itsdiff Entertainment

Reliance Capital's resolution has received tepid response as only four firms have made financial bids for the entire company, including its subsidiaries, under the insolvency process. IndusInd, Torrent, Oaktree Capital Management, and B-Right Realestate have submitted bids in the range of just Rs 4,000 crore. When the resolution process began, over 50 firms had submitted Expression of Interest for various assets, but only a handful of bidders were engaged. The bids have to be approved by a lender's committee. Lukewarm response for RCap asset: 1) IndusInd, Torrent, Oaktree Capital Management, and B-Right Realestate placed bids 2) All bids were placed in the range of Rs 4,000 crore. The process for asset sale of debt-ridden Anil Ambani's Reliance Capital had kick-started in November last year, when the Reserve Bank of India (RBI) superseded its board for payment defaults and initiated bankruptcy proceedings. Y Nageshwara Rao was appointed administrator for the corporate insolvency resolution process. After Srei Group's shadow banking arm and DHFL, Reliance Capital is the third NBFC to go under insolvency under IBC. Reliance Capital has a consolidated debt of about Rs 50,000 crore. But to expedite the sale process, the lenders hived off two entities of RCap --- Reliance Commercial Finance and Reliance Home Finance --- into a trust for a separate resolution process. It was done so that the bidders don't deal with debt of these two entities, which is around Rs 25,000 crore. Secured creditors have claimed Rs 22,122 crore and unsecured creditors around Rs 3,212 crore after the company was sent to insolvency. Major lenders include Life Insurance Corporation, YES Bank among others. Reliance Capital's lenders had offered two options to all the bidders. Under the first option, companies had to bid for Reliance Capital as a whole, including its subsidiary companies. Under the option-2, bidders have the freedom to bid separately for individual arms of Reliance Capital. Due to a tepid response from the bidders, the lenders earlier had to extend the timeline for submission of bids and the resolution process several times. The deadline for completion of the corporate insolvency resolution process of the company is November 1, 2022. Reliance Capital's eight businesses were on the block for bidding including general insurance, securities and asset reconstruction businesses. Under the second option, Reliance Capital's general insurance received bids from Piramal Group, Zurich Insurance Group, and Advent International. While, the company's ARC business got bids from Jindal Steel & Power and UV Asset Reconstruction Company, Choice Equity, Global Fincap, and Grand Bhawan have placed bids for other assets of Reliance Capital. Please include the byte: Ashvin Parekh, Managing Director, Ashvin Parekh Advisory Services LLP says, the bids for Reliance Capital assets were on the lower side. Lenders have few options left before approving the bids. But the poor response indicates that lenders are in for massive haircuts. It also showcases bidders' concerns, especially over equity of Reliance General Insurance, held by IDBI Trusteeship on the behalf of Credit Suisse. IDBI Trusteeship has refused to release these shares for the ongoing NCLT led resolution process. The condition to make all-cash bids also proved a hindrance in the resolution process   Mukesh Chand, Senior Counsel, Economic Laws Practice says the committee of creditors will likely negotiate with proposed bidders. CoC will try and work out a best possible resolution plan with the bidders. If viable options don't come out in negotiation process, big haircut is on the cards.  As the bids are placed, the ball is in the lender's court now. They have to take a call on the value of bids and evaluate other options, including negotiating a better deal with the proposed bidders. Whatever may be the case, it is in the creditors' best interest to comple

सीबीआई की प्राथमिकी में दावा किया गया है कि डीएचएफएल के प्रमोटरों ने अन्य लोगों के साथ मिलकर 17 बैंकों के समूह को 34,615 करोड़ रुपये का चूना लगाया और इन फंड्स को 'डीएचएफएल से जुड़ी' कंपनियों को दिया. ----more---- https://hindi.theprint.in/india/economy/fake-loans-fake-ledger-accounts-dhfl-case-of-rs-35000-crore-indias-biggest-bank-fraud/345466/ 

One topic we keep talking about on the podcast is debt funds. As we've alluded to numerous times in the show, most investors focus too much on the equity part of their portfolio and ignore the debt part. They often take debt for granted and invest based on recommendations or based on whatever partial understanding they have. This often ends up backfiring whenever there are bad phases in the debt markets like the IL&FS, DHFL, and Franklin episodes. The other risk that investors don't pay much attention to is the interest rate risk. Rising interest rates are bad for debt funds, and falling rates are good for debt funds. Given the strong inflationary pressures, RBI has hiked interest twice over the last month, and that has led to the debt fund NAVs falling. Predictably, over the last 3 odd months, the most common query from mutual fund investors was, “why are my debt fund NAVs falling?.” So we caught up with Mahendra Jajoo, the CIO of Fixed income Mirae Asset India. In this conversation, Mahendra talks about: What's happening in the debt markets Why are debt fund NAVs falling Why are interest rates rising What's causing inflation? Why have debt in your portfolio? How should investors invest in a rising rate environment Tips on building a debt portfolio and much more Hoep you find this useful.

The US Federal Reserve will announce the outcome of its two-day monetary policy meeting later today. Fed chair Jerome Powell is expected to approve plans for scaling back its current $120-billion in monthly bond purchases. And this could be the first step away from the core policies put in place in early 2020 to battle the economic fallout from the Covid-19 pandemic.   According to Jan Lambregts, managing director and global head of financial markets research at Rabobank International, the Federal Reserve is expected to announce the start of tapering at its November meeting, where the central bank could announce a fixed monthly taper schedule that would reduce net asset purchases by $10 billion Treasuries and $5 billion agency mortgage-backed-securities.   He also anticipates the Fed to stress on accumulated progress in the labour market and the transitory nature of supply side bottlenecks.   But, given that the pace of price hikes has remained higher for longer than expected along with the United States' economy growing at a slower pace in the September quarter, market watchers are expecting a rate hike not before the second half of 2022.   According to the CME Group's FedWatch tool, a widely tracked derivatives marketplace in the US, trading in federal funds futures contracts indicates a greater than 65% probability that the Fed would raise rates in June, with a second increase expected in November.   A month ago, rates market indicators signalled less than 20% likelihood of a rate hike as early as June and a comparably negligible probability for two hikes next year.   G Chokkalingam, founder and chief investment officer at Equinomics Research, says a rate hike would happen only in the second half of 2022 calendar year. He cites as the reason the weak GDP numbers in the September quarter. “Central banks are concerned about markets. Fed and others would adopt phased-exit route from a liberal policy. They may reduce bond purchases by 5-10% every month. There will be no major impact on markets,” he adds.   Given this, global cues will hold importance in today's trading session. Back home, Dalal Street could see lean volumes on the bourses today as market participants would want to keep their positions light ahead of the US Fed outcome and Muhurat Trading session due tomorrow.   Among stock-specific triggers, corporate earnings of State Bank of India, Bata India, and Eicher Motors, along with 39 other companies, will remain in focus today.   According to analysts, SBI's Q2 profit may nearly double on a yearly basis to Rs 9,263.3 crore on the back of healthy net interest margins, recovery from DHFL, and lower loan provisioning.   The lender's net interest income, however, is seen rising between 0.6 per cent and 4.6 per cent year-on-year, to up to Rs 29,309 crore.   That apart, Services PMI data and IPOs of Policybazaar, SJS Enterprises and Sigachi Industries will also be on investor radar today.   Watch video here

Tracking sombre Asian peers, Indian markets eye a subdued start to the day although promising inflation and industrial production data could help cap losses. India's industrial production grew 13.6 per cent in June mainly on account of ease in lockdowns and a favourable base. Further, after staying above the 6 per cent mark for two months, the CPI inflation for July cooled off to 3-month low level of 5.59 per cent. A fall in inflation and recovery in IIP will help the RBI to continue with its 'Accommodative 'and easy monetary policy, opined analysts. Further stock-specific activity will remain high amid the ongoing earnings season, also directing market moves. Now, on the global market front, Dow and S&P 500 jumped to record closes for a third straight day on Thursday, with mega-cap technology stocks driving the market higher as investors warmed to jobs data showing a steady U.S. economic recovery. Overall, Dow Jones rose 0.04 per cent, the S&P 500 gained 0.30 per cent and the Nasdaq Composite added 0.35 per cent. Asian shares wavered Friday as the spread of the delta Covid-19 variant and China's regulatory curbs restrained sentiment despite another record high close on Wall Street. Japan's Nikkei was flat, Australia's S&P/ASX 200 Index added 0.5 per cent, South Korea's Kospi fell 1.6 per cent and Hang Seng 0.7 per cent. Amid this backdrop, SGX Nifty was trading 12 points down at 16,368 around 7.40 am. Now, a look at stock-specific triggers that are likely to sway the market today. Burger King India, DHFL, Future Consumer, Grasim Industries, Hindustan Aeronautics, ONGC, and SpiceJet are some of the names slated to report their results today, while Easy Trip Planners, Future Retail, and Vodafone Idea are among over a hundred companies scheduled to report their first-quarter results on Saturday. Analysts' expectations are that most likely SpiceJet will report a net loss for the April-June quarter of FY22. All eyes are now on the airline's fundraising plans as well as growth in the cargo business during the Covid-hit period. Tata Steel on Thursday posted a consolidated net profit of Rs 9,768.34 crore for June quarter 2021-22. In the year-ago period, the company incurred a net loss of Rs 4,648.13 crore. The country's largest two-wheeler maker Hero MotoCorp on Thursday said its consolidated net profit surged over four-folds to Rs 256 crore for the first quarter ended June 30, riding on the back of robust sales during the period. Eicher Motors on Thursday reported a consolidated profit after tax of Rs 237 crore for the quarter ended June, riding on improved sales. The company had witnessed a loss of Rs 55 crore in the April-June period of 2020-21. The company also said Vinod Dasari, Royal Enfield CEO, is stepping down with effect from August 13. The company has appointed B Govindarajan as executive director to head the Royal Enfield business. CRISIL reaffirmed its rating on the commercial paper programme of Jubilant Food Works at CRISIL A1+.

The best decade for Indian equities ironically was the 1980s, and if we look back at the 1980s the Sensex compounded by around 30%-35% -- that's the best decadal return the Sensex has ever given and that predates the 1991 reforms, Saurabh Mukherjea is the Founder and Chief Investment Officer of Marcellus Investment Managers said in a D-Street Talk podcast with Moneycontrol. Mukherjea, author of Coffee Can Investing as well as Unusual Billionaires with decades of experience in the capital market says that the real hallmark of great wealth generators is not stock not the bottom line, but a derivative of bottom line which incorporates working capital cycle and asset turns which is called free cash flow. Edited Excerpts - Q) As we step into the second half of 2021 what are your views on markets? The Nifty50 rallied 13% in the first half, do you think the momentum will continue? A) Much as we enjoy the bull market I have to be honest, we don't really look at the broader market. Our approach in Marcellus is pretty oblivious to broader market circumstances, whether it's a panic like January, February, March last year, or this healthier market circumstance you're pointing to. We have seen over the last seven-eight months, superb fundamentals across our PMS schemes which are seeing earnings growth. In some cases, earnings growth is pushing towards 40% mark in the companies in which we have invested. Remember, these are not small companies, and almost all our investee companies are dominant market leaders. Earnings growth is very healthy over the last seven, eight, nine months. In the period starting January to March this year, many of our portfolio companies have delivered 40%-50% kind of earnings growth. But, even more impressively, were the free cash flow generation come through. Free cash flow is calculated after taking CapEx into account, and after taking your working capital load into account. Even in our smaller cap portfolios, we are seeing almost 80%-90% jumps in the free cash flow. So what does it mean? Well, it points to the fact that well-run companies in India Inc. are in very good health, and they're in the pink of their health. And, as COVID destroys the informal sector, well run India Inc. companies are in a superb position to grab the market share and consolidate position which will lead to the creation of shareholder wealth in the coming years. My reckoning is generally strong well run companies are in an outstanding position today, compared to say where they were two, three, four years ago. Q) The year 2021 also marks 30 years of reforms for India. What is your take on that? For the market, it never looked back – do you feel that the current reform process are equally strong and will take the economy to new highs? A) I am not sure if listeners will make that much money by agonizing about reforms because the best decade for Indian equities ironically was the 1980s. If you look back at the 1980s the Sensex compounded by around 30%-35%. That's the best decadal return the Sensex has ever given and that predates the 1991 reforms. So, there isn't that much of a relationship contrary to the popular perception that somehow economic reform creates shareholder wealth -- or there isn't that much relationship either in India or indeed in the Western world, between economic reform and broader markets. The notion that the broader bull market conditions is what you need to create wealth is also something that people need to challenge and question. If we look at the last decade there were been plenty of issues around say DeMon, GST, COVID, Yes Bank, DHFL, as well as ILFS. In spite of that, in the last decade, $1 trillion of wealth has been created in the Indian stock market, but 80% of that has been created by 16 companies. So, just 16 companies accounted for 80% of the wealth in the Indian market. The last decade for the average investor in the NIFTY or typical sort of investor who invests in an assortment of stocks would have been an unspectacular decade 10%-11% compounding. But if you're a discerning investor and you locked yourself into a dozen or so of these 15 giant wealth creators, you would have compounded your wealth close to 25% over the last decade. So broader aggregates, economic reform, broader macro aggregates were not very useful for making money. One needs to go stock specific, and one needs to understand the changes in the structure of the economy and benefit from that. Q) Well, there's a lot of craze on tech focused startup. So are you also planning to start something around it? A) No, as I said, we are fairly oblivious to whatever is the flavor of the day, or what is the current market sentiment. I have never quite understood why people get so excited about IPOs and the latest theme (Tech based IPO). I'm sure, if you remember, 10 years ago, everybody wanted to invest in infrastructure stocks and you know how that ended. I remember the turn of the century 1999-2000, I wasn't living in India, but I used to keep reading that Indians are going berserk investing in IT services stocks, we also know how that ended. Our job remains to consistently identify clean companies, selling essential products and services to India's 140 crore people, and doing so through dominant franchises which have little or no competition. And, if they happen to be in the tech sector, brilliant, we love it. But, we have no great reason to believe that they are in the tech sector disproportionately. There's a couple of tech companies that meet that criteria, clean, essential, dominant. But, there's only a couple of tech companies that meet that criteria. There are plenty of companies outside the tech sector, some in the specialty chemical sector, some in the pharma sector, some in FMCG, some in financial services, who meet our criteria and we invest in them and compound our balances well that around historically fighting the last four years it around 25% per annum. Q) You have highlighted the emphasis of Free Cash Flows in one of your blogs. Help our listeners understand the relationship between Free Cash flows and earnings growth? A) I think this is an important subject that you raised one that is close to our hearts. When most people read newspaper headlines, or they read the media coverage, they see a certain company that has grabbed so much market share, its volumes are growing much – the focus here is on the top-line growth. But, top-line creation doesn't necessarily create wealth, whether you look at the airline sector, or you look at the telecom sector or at the metals and mining sector. In all of these sectors, we have companies whose top lines or volumes have grown at a solid rate in the last 20 years, but they have not been able to create a great deal of wealth. Why? Because they haven't had the pricing power to protect their margins. So, investors should look at one level more, and scan through profit margin. If the top-line is vanity, the bottom line is sanity. The ability to grow your profits, over a five, 10, 15 year periods is the sign of a good company. But there's one more layer to it. Often what happens is that as companies grow bigger, they lose their discipline in terms of controlling efficiency in the shop floor in terms of assets, inspecting their machines harder and harder. They lose their efficiency in terms of managing the working capital cycle, which is paying your suppliers later, collecting monies from customers quickly, and keeping your inventories at a minimum. So what we find as the real hallmark, the real hallmark of great wealth generators is not stock not bottom line, but a derivative of bottom line which incorporates working capital cycle and asset turns which is called free cash flow. Free cash flow is nothing but the operating profit, less whatever you had to set aside for working capital, less whatever you've spent on CapEx. So, if your CapEx load is low, your working capital incremental working capitals requirements are low, then your free cash flows tend to be very healthy. Typically in India champion franchises example, Titan, Pidilite, Asian Paints, Page Industries, Relaxo all these champion franchises over the last five years, 10 years, 20 years have grown free cash flows at around 25% per annum. These are all investee companies of us, which is why I know the numbers so well. To summarize, the top line is vanity, the bottom line is sanity, and cash flow is reality. And, that's why I keep telling people to focus on cash flow, not the newspapers headlines and not even profitability. Q) You have talked extensively about polarization in the Indian stock market where wealth creation by Nifty companies is being driven by fewer and fewer companies that account for 80% of the wealth creation in the stock market. What is leading to polarization and how should investors approach it? A) So, what's happening in India is very similar to what happened in America in their corresponding state of development. As the country got networked which includes sea, railways, the telegraph, a modern road network. In India, the same is happening over the last 10-15 years and I suspect we've got 10-15 years more to go of networking the country using broadband, low-cost airlines, a more extensive highway network, and so on. But, you can see very visibly how the consolidation of the country is creating one or two giant companies in every sector, and those giants are scooping up the entire sector's profits. If the sector is large, say banking, or IT services and the sector dominator is becoming a national leviathan, I call it a giant monster who accounts for the bulk of the country's profits. Now, let's start with market cap and then we go to fundamentals. In the decade ending December 2010, around 27 companies accounted for 80% of the wealth creation in the stock market. In the decade ending December 2020, barely 16 companies, 16 accounted for 80% of the wealth creation in the country. So as you've nicely put it, wealth creation has got polarized into the hands of very few companies. Now, why has that happened? 10 years ago around 2010, the top 20 profit generators in India account was around a third of India's profits. Today at the end of FY21 the top 20 profit generators in India accounts for 90%, 95% of India's profits. So the profit share of the elite top 20 firms quadrupled in the last decade. The top 20 have pulled further and further away from the less of the market, which is why it explains why they're driving the bulk of the stock market wealth. 10 years or so ago, the top 20 franchises would have accounted for 30%, 35% of the country's free cash flow. In the year ending March ‘21, the top 20 franchises accounted for around 60% of India's free cash flow. So free cash flows are getting concentrated into the hands of 20 companies, profits are getting concentrated into the hands of 20 companies. Wealth creation, therefore, is getting concentrated into the hands of 20 companies. And what that means for your listeners today is -- if they are building portfolios, where they're buying several PMS, several mutual funds, severally AIS doing some direct punting on the market might not be that effective. Unfortunately, that's not going to be a very effective way to create wealth, because wealth in India in the next decade will be created by at most a dozen and a half companies more likely a dozen or so companies. And, that concentrated nature of wealth creation will actually make wealth creation a very different prospect from investing in the broader indices in the stock market. Q) Do you plan to introduce new products in the forthcoming future? You launched a new SIP program recently, please take us through that and what are the benefits? A) So we've watched and admired from a distance the outstanding work done by the mutual fund industry in making investment buying friendly and making investment investor-friendly. I think the SIP program that the mutual fund industry launched has been a great success. I wish them continued success to the SIP program. What we felt that just like a SIP in the mutual fund context is useful for investors, why shouldn't we do a SIP in the PMS industry, because after all, the benefits are very similar. Namely, if you are a salaried person like I am and your income comes in every month at a relatively regular rate, and you're able to set aside say 10% 20% of your income, you can then keep investing in the PMS at an ongoing rate, provided of course you can need the minimum requirement of Rs 50 lakhs. Secondly, by doing so, by consistently investing by what's called dollar-cost averaging, you're consistently dripping money into your SIP, you're being able to neutralize the highs and lows of the stock market. The third benefit you get is that you're able to turn savings into investment. You're able to turn investing into the stock market into a habit rather than something which you have to do after deep contemplation at the end of every financial year. So the benefits of SIP for people who are earning regular income is great, because they don't really suddenly come upon a certain large sum of money, they're constantly getting fresh funds and they can put that in a PMS SIP just like they do with the mutual fund SIP. (Tune into the podcast for more) Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

In this episode, find out why lenders to DHFL rejected the proposal to increase payouts to small investors, why Dabur is betting on its largest manufacturing plant Business Term of the Day: Block deal

As easing restrictions from states brought back hopes of faster economic recovery, the markets rallied with both Sensex and Nifty hitting their respective all-time highs last week. It was also the fourth consecutive week of gains for the benchmark indices. Analysts expect the investors to track the reopening of the economy, pace of Covid vaccinations, macro data and US Fed decision this week. While the overall market setup remains positive, some consolidation cannot be ruled out, they say, as benchmark indices have risen nearly 8% in a month and with the last leg of the March 2021 quarter earnings season, the stock specific action could continue. They suggest continuing with the “buy on dips” approach. First and foremost, participants will first react to the IIP numbers which were announced post-market hours on Friday. That apart, on the macro front, both the CPI and WPI inflation for the month of May will be released on Monday, while the Balance of Trade data for May will be announced on Tuesday. And on Friday, minutes of the recent RBI policy meeting held during June 2-4 will also be out. Globally, markets will closely watch the outcome of the US Fed meeting on June 16 which analysts feel would keep markets volatile. Although, they expect the prevailing consolidation in the global markets to end if the US Fed reaffirms its dovish stance on interest rates amid the inflation fear. Meanwhile, on the earnings front, 200 companies are lined up to post their quarterly figures this week, including some prominent ones such as Coal India, LIC Housing Finance, Jubilant Food works, Power Finance Corporation, Power Grid and NTPC. Investors will continue to track the pace of Covid infections and vaccinations in the country. India's fresh covid cases have been below the 1 lakh mark for the seventh day with the pace of vaccinations on the rise in the country. This will lead to further unlocking by states and aid economic recovery. The action in the primary market will also be high as four new issues will hit Street this week, namely Shyam Metalics, Sona Comstar, Dodla Dairy and Krishna Institute of Medical Science. The first two IPOs will open for subscription today while the other two on June 16. Lastly, oil price movement, rupee's trajectory and FII flows will also sway market mood. And now, let's take a look at the trade setup for today. Asian stocks were mixed Monday in holiday-thinned trading as investors prepared for a key Federal Reserve meeting later in the week. Shares saw modest gains in Japan and slipped in South Korea. Trading volumes are expected to be light with a number of holidays in the region including in Australia, China and Hong Kong. Japan's Topix Index gained 0.1% and South Korea's Kospi Index fell 0.2%. S&P 500 futures rose 0.1%. Tracking a mixed trade setup, Indian markets looked set to open lower. SGX Nifty was down 75 points at 15,748 at 7.40 am. A look at the stock-specific triggers that are likely to guide the market today. Coal India, Indian Overseas Bank, Kajaria Ceramics, Greenply Industries and Uttam Sugar Mills are among 50 firms slated to release their quarterly numbers today. Drug firm Lupin on Sunday said it has received a warning letter from the US health regulator for its Somerset facility in the US. BSE and NSE will suspend trading in the shares of Dewan Housing Finance Corporation Ltd (DHFL) with effect from Monday. The move, aimed at avoiding "market complications", comes against the backdrop of the NCLT approving Piramal Group's resolution plan for the bankrupt-DHFL. BHEL's consolidated net loss narrowed to Rs 1,036.32 crore in the March 2021 quarter, mainly on the back of higher revenues. The company's consolidated net loss had stood at Rs 1,532.18 crore in the quarter ended on March 31, 2020.

Benchmark indices ended a range-bound around flat line on Tuesday, even as broader markets scaled fresh record peaks as stock-specific action dominated the equity markets today. The BSE-barometer of 30 shares settled at 52,275 levels, down 53 points or 0.10 per cent while the Nifty50 shut shop at 15,740-mark, down 11.5 points or 0.07 per cent. Tata Motors, Tech Mahindra, Bharti Airtel, Indian Oil Corporation, HCL Tech, and Infosys were the top gainers on the indices. Hindalco, Tata Steel, JSW Steel, Kotak Bank, HDFC, and SBI, meanwhile, were the top laggards. In the broader market space, the BSE MidCap index hit a record peak for the fifth consecutive day, at 22,822.6 levels, and ended the day at 22,769.5 levels, up 0.36 per cent. The SmallCap counterpart, on the other hand, closed 0.9 per cent higher at 24,827 levels after hitting a new peak of 24,868 earlier today. Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, however, cautions investors against the "excessive rally" in the broader market as any correction in the market is felt more in the mid-, small-cap stocks due to lack of depth in the segment. Individually, Adani Power hit a record high of Rs 152, soaring 20 per cent in intra-day trade, on the back of heavy volumes while Torrent Power and Tata Power gained over 4 per cent each on the BSE. Propelled by these, the S&P BSE Power index hit a 10-year high of 3,008, a level last seen in January 2011. Besides, shares of Piramal Enterprises zoomed 11 per cent to Rs 2,183 on the BSE in intra-day trade, thus surging 17 per cent in two days, after the Mumbai Bench of the National Company Law Tribunal (NCLT) approved Piramal Group's resolution plan for the beleaguered DHFL. The latter's stock was also locked in upper circuit for the second straight day, up 10 per cent at Rs 22.85 on the BSE. Lastly, shares of Laurus Labs hit a new high of Rs 642, up 12 per cent on the BSE. The stock was quoting higher for the eighth straight trading day and has outperformed the market by surging 73 per cent in the past three months after the company's promoters released most of the pledged shares by selling their stake. On the sectoral front, metal and financial stocks remained under pressure with the Nifty Bank, PSU Bank, and Metal indices closing up to 1.4 per cent lower. On the upside, the Nifty IT, FMCG, and Pharma indices gained around 1 per cent each. In the primary market, the growth versus profitability debate in the context of Zomato seems to be already heating up ahead of the company's initial public offering (IPO) planned later this year. According to analysts at Jefferies, while one set of investors are looking at Zomatos' growth metrics even at the cost of medium-term profitability, the other camp is looking for a clear path to profitability going ahead. Potential competition from Amazon, Thrive etc. is also on investors' minds and so is the dynamics between Zomato and Swiggy, they said. Global markets   European stocks hit new highs on Tuesday, lifted by travel and real estate shares, but weak German industrial output data and doubts over the United Kingdom lifting restrictions later this month capped gains. The pan-European STOXX 600 index was flat after notching a record high earlier, while the UK's FTSE 100 gained 0.4 per cent. In Asia, Japan's Nikkei ended 0.3 per cent lower, South Korea's Kospi dipped 0.13 per cent, and China's Shanghai Composite ended 0.5 per cent lower. Meanwhile, futures of Wall Street's three main indices were mixed. Dow Jones Futures were down 0.04 per cent while Nasdaq Futures were up 0.25 per cent.

Benchmark indices may continue to consolidate and trade range-bound on Wednesday amid lack of fresh domestic triggers. At 7:40 AM, SGX Nifty quoted around 40 points down, suggesting a flat-to-negative start on Dalal Street.  This comes after US stocks closed slightly lower on Tuesday as investors continue to try and assess the route of inflation. Overall, the Dow Jones fell 0.24 per cent, the S&P 500 lost 0.21 per cent, and the Nasdaq Composite dropped 0.03 per cent.  Yields on longer-dated US Treasuries, however, fell for a fourth straight day, with the benchmark 10-year yield hitting a fresh two-week low of 1.557 per cent and helping to dampen inflation worries. This may provide some comfort to the investors. Moreover, the trend was flat to positive among Asian indices early Wednesday. Hong Kong's Hang Seng rose 0.6 per cent, while Japan's Nikkei and South Korea's Kospi were up 0.2 per cent, each. Australia's ASX200, meanwhile, was flat. Back home, India reported 208,886 new coronavirus cases in the last 24 hours, a slight increase than the day before, while deaths from the disease rose by 4,172, according to Worldometer. The country's total cases are now over 27 million. Whil this may have a bearing on the market sentiment, investors would eye news flow around unlocking of states and pick up in vaccination drive to move forward. Moreover, stock-specific action and quarterly earnings could steer indices while volatility may rise ahead of the May series F&O expiry tomorrow. Now, a look at the stock-specific triggers that are likely to guide the market today A total of 52 companies, including Berger Paints India, Bharat Petroleum Corporation, Burger King India, Cummins India, and Vardhman Holdings are scheduled to announce their quarterly results today. Godawari Power and Ispat Ltd, on Tuesday, posted a multifold jump in consolidated net profit at Rs 304.01 crore for the March quarter 2020-21, from Rs 34.22 in the year-ago quarter, mainly on the back of higher revenues. Total income rose to Rs 1,263.67 crore in the quarter. Energy solutions firm Thermax said its consolidated net profit jumped nearly three-fold to Rs 107 crore for the March quarter. Total income rose to Rs 1,610.34 crore in the quarter from Rs 1,353.66 crore earlier. HDFC Ltd on Tuesday said it will raise up to Rs 7,000 crore by issuing bonds on private placement basis. It will offer a coupon rate of 6 per cent per annum on the bonds, the issue for which opens on May 28 and closes the same day. DHFL: The NCLAT, on Tuesday, stayed the order of the Mumbai Bench of the NCLT, which had directed the DHFL administrator to place the settlement offer of the erstwhile promoter, Kapil Wadhawan, before the committee of creditors while it decided on the appeal.

Buoyed by firm cues from global markets, stock market bulls look poised to extend their winning spree to a third day today. Meanwhile, a further decline in Covid cases in the country could further support the sentiment. At 7.20 am, SGX Nifty was ruling 91 points higher at 15,292, indicating a solid start for the benchmark indices.  Stock specific action and quarterly earnings could further sway market mood while volatility may remain hightened ahead of May F&O expiry. In the last 24 hours, India's fresh Covid cases stood at 1.95 lakh. It is the lowest level of cases in the last 41 days. India had reported 2.22 lakh cases on Monday. With a sharp decline in cases, investors are positive on soon uplifting of the restrictions by several states. Meanwhile, on the global market front, technology shares led gains in U.S. stocks as inflation anxiety appeared to be easing. Ten out of the 11 groups in the S&P 500 rose, while the Nasdaq 100 outperformed major equity benchmarks amid a rally in giants such as Apple Inc., Amazon.com Inc. and Tesla Inc. The Dow Jones Industrial Average rose 0.54%, the S&P 500 gained 0.99% and the Nasdaq Composite added 1.41%. Asian markets too trended higher tracking strong overnight action on Wall Street. Japan’s Topix index climbed 0.2%, Australia’s S&P/ASX 200 index gained 0.6%, South Korea’s Kospi index added 0.7% and Hong Kong’s Hang Seng index rose 0.7%. In the oil market, prices were steady on Tuesday, holding around one-week highs after jumping more than 3% the previous session as prospects of an early return of oil exporter Iran to international crude markets lessoned. Brent crude futures were down 6 cents at $68.40, having jumped 3% on Monday. U.S. West Texas Intermediate futures fell 8 cents to $65.97 a barrel, after gaining 3.9% the previous session. Now, a look at the stock-specific triggers that are likely to guide the market today A total of 68 companies are slated to post their March quarter results today, including Alkem Labs, AstraZeneca Pharma India, Stove Kraft, Emami, Thermax and VIP Industries. Grasim Industries reported a 13.3 per cent YoY rise in its consolidated net profit to Rs 2,616.64 crore for the fourth quarter ended March 31. Its revenue from operations during January-March 2021 jumped 26.1 per cent YoY to Rs 24,398.92 crore. The committee of creditors of DHFL has challenged the National Company Law Tribunal (NCLT) order directing the lenders to consider the offer by the debt-ridden mortgage firm's erstwhile promoter Kapil Wadhawan. Infosys co-founder S D Shibulal on Monday purchased shares worth Rs 100 crore of the IT major through an open market transaction. Shibulal bought over 7.45 lakh shares at an average price of Rs 1,342.05 per share, valuing the transaction at Rs 100 crore, BSE block deal data showed.

Are the recent problems - GME, Greensill and Archegos - signs of a damaged financial system that is so terribly fragile that a slightly bigger disaster can easily crush it? Like what Covid has done to the world's health system, are there more hidden risks in our financial system that can trigger a repeat of 2008? In this episode, Deepak and Shray explore what's happened in the US over the past few months, and examples of hidden leverage within India - from Harshad Mehta to Karvy, Zee, DHFL and more.

In the overnight session, Wall Street’s main indices tumbled with the Nasdaq index posting its largest daily percentage fall in four months, as technology-related stocks remained under pressure following a rise in US bond yields. The Dow and the S&P 500 notched their biggest daily decline since late January. The Dow Jones Industrial Average closed 1.75% lower, the S&P 500 lost 2.45% and the Nasdaq Composite dropped 3.52%. Consequently, Asian stocks opened sharply lower with Australia’s S&P/ASX 200 down 2% in early trade and on track for the biggest intraday percentage loss since January 28. Japan’s Nikkei 225 was down 1.8%. The rout on Wall Street looks set to extend to Indian markets too. SGX Nifty futures were trading 285 points or 1.88 per cent down at 14,895 as of 7.30 am, indicating a gap-down start for benchmark indices. Market participants, meanwhile, would keep an eye on the Q3 GDP data that will be released later today. According to a BS report, economists seem divided on the GDP projection with some predicting a contraction of up to 2% while others eyeing a growth of up to 1.8%. Now, a look at the stock-specific developments that are likely to sway the market today: Shares of RailTel Corporation will list on the bourses today. Analysts expect the shares of the PSU firm to debut at a premium of 16-18% over the issue price of Rs 94 per share. The IPO was subscribed 42 times. DHFL has received no objection from the Reserve Bank and has filed an application with NCLT for submission of the resolution plan of Piramal Capital & Housing Finance. IT services major Infosys said it will add 300 local jobs in Pennsylvania as part of its ongoing hiring plans in the US. Schaeffler India is looking to leverage the IT infrastructure and competence available in India, which offers a high level of cost competitiveness, to develop solutions for the global need as well as for the domestic market, a top company executive has said. Mahindra Lifespace Developers has acquired 7.89 acres of land to develop a residential project in Bengaluru. The project will offer about 5 lakh sq ft of carpet area. The launch of the project is planned for FY 2022. HCL Technologies' subsidiary HCL America Inc has approved a proposal for issuing senior unsecured notes of up to $500 million. The net proceeds of the notes, which are proposed to be listed on the Singapore Stock Exchange, will be used for refinancing existing debts and for general corporate purpose. Lastly, the initial public offer by Gujarat-based Heranba Industries was subscribed 83 times on Thursday, the issue's final day. The institutional investor portion was subscribed 67 times. The wealthy investor portion by 271 times, and retail investors subscribed 11 times the portion reserved for them.

DHFL’s acquisition would be a positive for Piramal Enterprises despite the short-term requirement of a large capital infusion. Even so, Piramal Enterprises must guard against buyer’s remorse as it sets to acquire DHFL. Why is that? Tune in here to find out.

While benchmark indices scaled fresh record highs in the last week, high volatility and weak global cues dented the sentiment on Friday, leading to a massive selloff in stocks. However, both Sensex and Nifty managed to gain around half a per cent for the week. As indices look set to kick off the trading this week, Q3 earnings and global cues will likely guide the market, meanwhile, volatility could stay high in the run-up to Union Budget. Traders will react to the HDFC Bank Q3 numbers that came out on Saturday wherein the lender posted an over 18 per cent jump in December quarter profit. Besides that, around 193 companies are set to announce their quarterly numbers this week, including a number of prominent large- and mid-caps firms such as -- Reliance Industries, Bajaj Finance, Bajaj Auto, YES Bank, Mindtree, Asian Paints, JSW Steel, SBI Life Insurance, Biocon, Bandhan Bank and Ultratech Cement to name a few. Meanwhile, on the global front, US President-elect Joe Biden will take office on Wednesday, January 20. Biden had last week unveiled a $1.9 trillion stimulus package that will come up for a vote in the Senate, wherein he would need Republican support to have it cleared. Any development on that front would be closely monitored by investors. That apart, market participants will also keep tracking latest developments and trends on the Covid-19 pandemic front, especially the pace of the vaccine rollout programme that kicked off on January 16 in the country and for signs of any adverse reactions from the vaccine. Moreover, movement in crude oil prices, rupee and FII inflows will also be monitored. Lastly, there will be no dearth of action in the primary markets too as two IPOs, namely - IRFC and Indigo Paints - are slated to open for subscription on January 18 and January 20, respectively. IRFC's IPO is priced at Rs 25-26 a share. Its nearly risk-free model positions the IPO as a safe bet for investors, analyst believe.  And now, let's take a look at the trade setup for today Asian share markets retreated from highs on Monday as disappointing news on US consumer spending tempered risk sentiment ahead of a closely-watched reading on the health of the Chinese economy. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.3% having hit a string of record peaks in recent weeks. Japan’s Nikkei slipped 1% and away from a 30-year high. E-Mini futures for the S&P 500 dipped 0.3%, though Wall Street will be closed on Monday for Martin Luther King Jr. holiday. Tracking weakness in Asian peers, Indian markets too looked set for a tepid start. SGX Nifty futures traded 45 points down at 7.35 am. On the stock-specific front, Mindtree, IndiaMart, Rallis India and 18 other companies will release their Q3 numbers today. Wipro has been chosen as the strategic technology services partner by Fiat Chrysler Automobiles. SAIL's retail portion of the OFS was subscribed 5.22 times on Friday. Investors bid for nearly 12.5 crore shares as compared to the 5.16 crore shares on offer. DHFL said the Committee of Creditors (CoC) has approved the resolution plan submitted by Piramal Capital and Housing Finance Limited, a Piramal Group company.

Indian benchmark indices are likely to snap their 9-day winning run and open with deep cuts tracking poor cues from global peers. At around 7.25 am, Nifty futures on the Singapore Exchange traded 103 points down at 14073, indicating a gap-down start for Indian markets. The losses follow a sharp slide on Wall Street on Monday, the first trading day of the year, as risk appetite ebbed amid upcoming runoff elections in Georgia and the persistent surge in coronavirus cases. Runoff elections in Georgia, which are set to determine whether Democrats take effective control of Congress to push President-elect Joe Biden’s agenda, are impacting market sentiment. Traders are weighing scenarios such as the possibility of greater US fiscal stimulus, higher taxes and more regulation under such a so-called “blue wave.” All three main indices hit two-week lows. The Dow Jones Industrial Average fell 1.25%, the S&P 500 lost 1.48% and the Nasdaq Composite dropped 1.47%. Consequently, Asian shares too edged lower on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.12% while Australian stocks fell 0.16%. Japanese shares lost 0.47% after a media report that the government will curb business hours in Tokyo and surrounding cities from Thursday. In another development, nearly 56 million people in England will return to a full coronavirus lockdown, possibly until mid-February, to try to cut spiralling infection rates, UK Prime Minister Boris Johnson said on Monday. That apart, bitcoin’s rally fizzled as the famously volatile cryptocurrency sank as much as 17% before steadying. Bitcoin was last down 8% at $30,542. Now, a look at the stock-specific developments that are likely to sway the market today: All the three bidders of DHFL -- Oaktree, Piramal and the Adani group -- have valued the housing finance company's shares at zero, thus giving no upside to its shareholders when it is offered to the highest bidder by January 14. As on Monday, DHFL had a market valuation of Rs 941 crore as its stock was traded at Rs 30 a share. HDFC's individual loan business continued to see improvement during the October-December period. For the nine months ending December 31, 2020, individual loan disbursements stood at 86% of the same period last year. Gross income from dividend during the quarter at Rs 2 crore from Rs 4 crore. Bajaj Finance's AUM rose 4.66% quarter-on-quarter to Rs 1.43 lakh crore in the October-December quarter, however, it contracted 1% year-on-year. The company added 6 million new loans in Q3 as compared with 7.7 million a year ago. Further, the total deposits of the NBFC rose to Rs 23,800 crore in Q3, up 17% year-on-year. The government and Life Insurance Corporation (LIC) of India should allow IDBI Bank to come out of the prompt corrective action (PCA) framework before they go ahead with the stake sale in the lender, the Reserve Bank of India (RBI) has suggested.

The benchmark indices ended the holiday-shortened week flat as markets rebounded swiftly in the ensuing sessions following a steep decline on Monday. The BSE Sensex rose 13 points to 46,974, while the Nifty50 was down 11 points at 13,749 for the week. The last week of Calender 2020 is likely to be volatile given the worries on the new strain of coronavirus that is wreaking havoc across Europe and South Africa and expiry of December derivative contracts. However, global developments such as a Brexit deal between European Union and UK over the weekend and US President Donald Trump's go-ahead to the Covid relief and govt funding bill are likely to enthuse stock market bulls. Most global financial markets will remain closed for trading on January 1. Back home, investors will track development related to Covid-19 vaccination. In India, the daily death rate has dropped to the lowest level since early June, while the rate of new infections is at the lowest since early July. The government has planned for a dry run of Covid-19 vaccine in four states - Andhra Pradesh, Assam, Gujarat, and Punjab - which will take place between December 28-29, ahead of actual implementation whenever the drug gets finalised. Drugs Controller General of India may give nod to the Oxford vaccine this week, before deciding on giving emergency use authorisation to the Serum Institute that is manufacturing the shots here, PTI said quoting sources. Meanwhile, the European Union kicked off a continent-wide vaccination campaign less than a week after clearing a shot developed by Pfizer Inc. and BioNTech SE. Apart from these, stock-specific developments would keep investors busy. Auto stocks are likely to be in focus as auto majors would report their monthly sales data for December at the end of the week. Shares of Antony Waste are expected to list on the bourses on Friday after it received a good response from investors for its Rs 300 crore IPO. The share buyback offers of Wipro, Mayur Uniquoters and Kanchi Karpooram will open on December 29, December 30 and December 31 respectively. Besides this, investors would keep a track of FII inflows, rupee trajectory and movement in oil prices. And now, let's take a look at the trade setup for today Global shares ticked up on Monday after a report said that US President Donald Trump signed into law a $2.3 trillion pandemic aid and spending package he had until now refused to sign. Japan’s Nikkei inched up 0.4% and MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2%. Meanwhile, U.S. S&P futures last traded up 0.4%. Back home, Indian markets too mirrored the positive mood as SGX Nifty was trading up 0.31 per cent at 13,801. Shares of DHFL are likely to be in focus today after Oaktree Capital shot-off a letter to Reserve Bank of India on Sunday, ahead of voting by lenders on bids which begins this week, alleging that inspite of it offering maximum value to stakeholders, there is a consistent campaign to misrepresent information about its bid. The core group of secretaries on divestment, headed by Cabinet Secretary Rajiv Gauba, is likely to meet on Monday to finalise the strategic sale of BEML.

With the final clutch of suitors competing intensely, the plot has turned in favor of DHFL's financial creditors. The valuation of DHFL has also gone up with revised bids. Listen in for more details on DHFL's resolution.

After remaining in the negative territory for the most part of the session, the domestic equity market managed to settle flat with a positive bias on Tuesday amid buying in select financial and information technology (IT) counters.   The S&P BSE Sensex ended at 46,263, up 10 points, or 0.02 per cent while NSE's Nifty settled at 13,568, up 10 points, or 0.07 per cent. During the session, Sensex hit a high and low of 46,350.30 and 45,841.67 levels, respectively.   HDFC, HDFC Bank, Bajaj Finance, Bajaj Finserv, and HCL Tech were the major contributors to the Sensex's recovery today. Bajaj Finance (up 4.7 per cent) was the biggest gainer on Sensex while HUL (down over 2 per cent) emerged as the top loser.   Moreover, Bajaj Finance entered the elite club of companies with a market capitalisation (market-cap) of Rs 3 trillion after the company's stock price hit a new high. The stock ended at Rs 5,128 on the BSE.   Volatilty index, India VIX, ended at 19.3 levels, down 0.29 per cent.   In the broader market, the S&P BSE MidCap index outperformed the frontline indices as it gained 0.42 per cent to 17,733.87 while SmallCap index ended flat at 17,696 points.   Among sectoral indices, Nifty Media gained the most - up 1.79 per cent, followed by Nifty Metal and Nifty Financial Services indices (both up 0.77 per cent).   Among buzzing stocks, shares of Majesco hit a fresh record high of Rs 1,019 on the BSE after the company said its board has approved payment of interim dividend of Rs 974 per equity share for the financial year 2020-21. The stock, however, pared gains and ended 0.88 per cent higher at Rs 982.2.   Shares of DHFL were locked in the lower circuit for the second straight day after media reports suggested that the US-based asset management firm Oaktree Capital has emerged as the highest bidder in a revised round of bidding for the troubled mortgage lender.   Meanwhile, US-based fund Interups says it has Rs 13,500 crore as available capital for investment in Air India and is ready to invest "billions of dollars" in the Indian aviation sector.   Global markets   Asian stocks retreated on Tuesday as worries about increasing Covid-19 deaths and lockdowns overshadowed optimism about the roll-out of coronavirus vaccinations, just days after indexes hit record highs.   In commodities, oil slipped towards $50 a barrel as tighter lockdowns in Europe and forecasts of a slower demand recovery outweighed relief from the roll-out of coronavirus vaccines.

The Indian markets resumed their ascent on Thursday after a day’s breather, with both the benchmark indices rising nearly one per cent as the November series derivative contracts expired. And, going by the SGX Nifty, the markets are likely to start the December series on a positive note, with the Nifty reclaiming the 13,000-mark. Asian shares were mixed in Friday's early deals. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.07 per cent. Australian shares were down half a per cent while Japan's Nikkei was flat. Korea's Kospi, meanwhile, gained 0.2 per cent. US financial markets were closed on Thursday for the Thanksgiving holiday and will trade on a partial schedule later on Friday. In commodities, oil prices looked set to extend their declines from a seven-month high due to signs of oversupply. Brent futures had risen to nearly $50 a barrel this week but was last down 1.5 per cent at $47.87 a barrel. Back home, investors will keenly await India's GDP figures for the second quarter which are scheduled to be released today post market hours. Every rating agency, barring Barclays, has projected either less contraction in India's economy in the second quarter or the same as it was earlier. The predictions differ widely as BofA Securities expected the fall in GDP at 7.8 per cent while CRISIL says the decline in the economy would be less than 10 per cent. India's economy shrank at an unprecedented 23.9 per cent in the first quarter. As such, if projections come true, India would be in a technical recession. FMCG stocks may come under the spotlight toady after market research agency Nielsen said that India's FMCG market will contract by 1-3 per cent in the 2020 calendar year, as headwinds such as commodity inflation outweigh tailwinds. Besides these, investors will track stock-specific developments, the Rupee's trajectory and oil price movement. The beleaguered DHFL has reported a net loss of Rs 2,123 crore for the quarter ended September as compared to a net loss of Rs 6,750 crore reported for the same period last financial year. Meanwhile, changes to MSCI Global Standard Index will come into effect from the close of business today. ACC, Adani Green, Balkrishna Industries, and L&T Info are among the 12 stocks that will be added to the index while Bosch and LIC Housing Finance will be removed. On the Covid front, India reported 43,174 fresh Covid-19 cases on Thursday, taking its tally to over 93 lakh. The country's death toll mounted to 1.35 lakh.,  Interim data from the Indian arm of Oxford-AstraZeneca vaccine candidate Covishield has shown the lowest efficacy results of 60-70 per cent.  And, domestic equities and currency markets will remain shut on Monday, November 30, on account of Gurunanak Jayanti. 

Global brokerage firm Morgan Stanley expects the benchmark Sensex top the 50,000 milestone by end of next year. The brokerage believes the economic growth cycle is not fully priced in. It has revised upwards the earnings per share (EPS) estimate for Sensex. Earlier, the brokerage had a target of 37,300 for June 2021. Besides, Goldman Sachs on Tuesday upgraded its India GDP forecast to a contraction of 10.3 per cent in FY21, as against its earlier estimate of a negative growth of 14.8 per cent. The US-based firm said developments on the vaccine front -- where two candidates have posted satisfactory progress -- will be very helpful in the recovery. Meanwhile, the Reserve Bank of India (RBI) on Tuesday proposed to merge private sector lender Lakshmi Vilas Bank (LVB) with the India subsidiary of Singapore’s DBS Bank, even as LVB was put under moratorium for at least a month by the government. Further, the Piramal group revised its offer for Dewan Housing Finance Corporation’s (DHFL’s) retail book on Tuesday. Oaktree Capital, which had last week revised its offer for all assets of DHFL to Rs 31,000 crore, did not make any further revision. With this, the Adani group remains the highest bidder for all assets of DHFL, with its bid of Rs 31,250 crore. Global cues:   In the overnight trade, US stocks retreated from record closing highs on Tuesday, ending lower as surging Covid-19 cases, the growing threat of a fresh round of economic lockdowns and weak retail sales data dampened the euphoria caused by potential vaccine breakthroughs. Federal Reserve Chair Jerome Powell said on Tuesday it was not time to shut down emergency programs aimed at battling the economic fallout from the coronavirus pandemic, with cases again surging and the economy left with “a long way to go” to recover. Asian equities, too, were set for a sluggish open on Wednesday, tracking a lower Wall Street session. At 07:23 AM, Nifty futures on the Singapore Exchange (SGX) traded 30.5 points, or 0.24 per cent at 12,903.20 levels, indicating a muted start for the Indian market on Wednesday. In commodities, oil prices edged lower in post-settlement trade on Tuesday. Back home, shares of Wipro may remain in focus today as the IT services major on Tuesday said its shareholders have approved up to Rs 9,500 crore share buyback plan at Rs 400 per share.

Welcome to The Stock Market Podcast by Sharique Samsudheen. We meet here every day at 8.30 pm to discuss, analyze, and learn everything about the stock market. We start the day by analyzing the Nifty & Bank Nifty levels and go on to talk about top news for the day. We also discuss stocks to watch for tomorrow. Intro: 00:00 Watchlist Update: 01:04 Markets Today(Nifty, Bank Nifty Analysis): 02:58 Nifty Metal and Tata Steel(Again!): 06:08 Top Gainers/Losers(Tata Motors, HDFC Life Chart Analysis): 07:35 Adani Enterprises and DHFL: 12:23 BPCL Fall, 2-wheelers vs 4-wheelers, Rupee Strengthening: 13:58 HDFC Bank Interest Rate vs Stock Market Returns, FII Profit Booking?: 15:13 Markets Tomorrow(New QnA Structure, Global Markets): 17:05 Athishaktham Watchlist: 19:17 Your Questions, My Answers(Lakshmi Vilas Bank, DeltaCorp): 23:44 Intelligent Trades from marketfeed Analysis: 26:09 Lagging Fundamental Stocks(Raymond?): 26:53 Plans for Jargons Section, Football vs TSMS, Live Feed: 28:10 FIIs vs DIIs and HDFC AMC: 29:45 Join Us on Telegram - Search @fundfolio on Telegram Do check out www.marketfeed.news for updates every day Sensibull Options Trading Platform Discount Link - https://rzp.io/l/fundfolio10 Open Demat & Trading Account with Zerodha - https://zerodha.com/open-account?c=ZMPKGJ Open Free Demat Trading Account With Upstox - https://upstox.com/open-account/?f=8U0X Do check out our video version - https://www.youtube.com/watch?v=Xs3WlBNC9xM Send in your valuable feedback to marketfeed@fundfolio.in

Piramal Enterprises has protested against Adani's group's bid for assets of Dewan Housing Finance Ltd (DHFL), threatening to exit the race if Adani's bid is accepted. In this podcast, Business Standard's Dev Chatterjee answers why Piramal group is objecting to the Adani's bid? Are lenders happy with the bids already in? and what is worrying the lenders about Oaktree bid? 

The Indian markets are likely to open flat to higher, as indicated by the SGX Nifty which was trading flat at around 11,580 levels. In the US, the three major equity indexes moved higher overnight. The Dow Jones rose 1.6 per cent, the S&P 500 gained 1.5 per cent and the Nasdaq added 0.98 per cent. In Asia, Australian ASX 200 were trading half a per cent higher. Japan's Nikkei was up 0.9 per cent . On the other hand, Hong Kong's Hang Seng index was down 0.9 per cent. Back home, investors will keep a close eye on developments regarding the India-China dispute. India yesterday banned 118 more Chinese apps, including popular multiplayer game PUBG and search engine Baidu, citing them to be security threats.  Besides this, market participants will also track SC's hearing on loan moratorium extension, Covid-19 trends and Services PMI data for August which is scheduled to be released later in the day. The finance ministry and the RBI yesterday told the SC that asking banks to take a hit on interest rates will adversely affect the financial system as well as economic growth. The apex court will hear the matter again today. On the results front, a total of 47 companies including Page Industries and Jubilant Industries are scheduled to announce their June quarter earnings today. Coal India yesterday reported a 55 per cent drop in Q1 profit to Rs 2,077.5 crore while revenue came in at Rs 18,487 crore. The stock will react today. Aviation stocks are likely to trade actively today after the central government permitted Indian airlines to increase the number of passenger flights to 60 per cent of their pre-Covid capacity. On the Covid-19 front, India yesterday recorded its highest ever one-day record of 82,860 cases in a day, taking its tally to 38.48 lakh, while death toll stood at 67,486, according to Worldometer. Now, a quick look at other top news. LIC Housing Finance on Wednesday said it will seek shareholders' approval in the upcoming annual general meeting this month to raise up to Rs 50,500 crore by issuing debt securities or other hybrid instruments on a private placement basis. Finance Minister Nirmala Sitharaman will today hold a review meeting with heads of banks and NBFCs for smooth and speedy implementation of the one-time debt recast for resolution of Covid-19 related stress in bank loans. Lenders to DHFL have approached the NCLT to tag Rs 14,046 crore in retail loans as fraudulent after an internal audit found certain transactions of the company to be fraudulent in nature. Sebi yesterday modified norms pertaining to segregation of portfolio in mutual funds by asset management companies amid the coronavirus pandemic. The latest modifications would be in place till December 31, 2020.

The Indian markets are set to open with gains today after a late surge on the Wall Street. The SGX Nifty was up around 60 points at 7:30 AM, and was indicating an open above 10,300 levels for the Nifty today.  On the Wall Street, the main indexes closed higher overnight. The Dow Jones rose 1.18 per cent, the S&P 500 gained 1.10 per cent, and the Nasdaq Composite added 1.09 per cent. Asian stocks also ticked up on Friday. Australian ASX200 rose 0.8 per cent in early trading, Japan's Nikkei added 0.9 per cent. Hong Kong's Hang Seng index, on the other hand, was down half a per cent. The gains, however, might be capped by the continuously increasing tally of Covid-19 cases. India yesterday saw a sharp spike of over 18,000 new Covid-19 cases, taking the country's total count of infections to 4.91 lakh while the death toll crossed 15,000, according to Worldometer. WHO has said that it expects the number of Covid-19 cases across the globe to reach 1 crore next week. Meanwhile, investors will also react to the corporate results announced after market hours yesterday. Ashok Leyland reported a loss of Rs 57 crore as against profit of Rs 653 a year ago. Revenue for the quarter stood at Rs 3,838 crore. Today, a total of 250 companies, including ITC, Coal India, and Glenmark Pharma are scheduled to announce their March quarter earnings. According to analysts, ITC is expected to post up to 14 per cent decline in its cigarette volumes due to hike in excise duty and Covid-19 induced lockdown. On the macro front, investors will keep an eye out for the current account data for the fourth quarter. Now, let's look at some other top news The Sebi yesterday relaxed the pricing norms for preferential issuances to ease the capital-raising process for listed companies. The new pricing formula will enable the issuance of new shares at recent stock prices. The Sebi board has also decided to amend the prohibition of insider trading rules. A one-time restructuring of loans for India Inc may figure in discussions at the RBI's central board meeting today, which will be the first since the outbreak of the Covid-19 pandemic. In a webinar yesterday, Finance Minister Nirmala Sitharaman also that a one-time loan restructuring facility for non-MSMEs was under active consideration. She also said the government would consider extending the Rs 3-trillion emergency line of credit to include individual proprietors.  The CBI yesterday filed a chargesheet against YES Bank co-founder Rana Kapoor and 11 others. CBI had earlier registered the case for alleged cheating, fraud, criminal conspiracy in sanctioning of loans by YES Bank and in exchange receiving kickbacks by Kapoor from DHFL promoter Dheeraj and Kapil Wadhawan.

Professor Shashwat Alok from ISB Hyderabad is the perfect person to throw light on what drives corporate governance issues in India. Well, the country has been an excellent breeding ground for corporate governance, or shall we say corporate misgovernance case studies, be it Satyam, IL&FS, DHFL, ICICI, and now Yes Bank.  Prof Alok discusses why corporate governance often fails to translate from rules and processes to actual execution, touching upon a multitude of themes be it risks of promoter-led shareholding, lack of market reforms, to inadequate and opaque disclosures. A proponent of the power of free markets, Prof Alok strongly feels if transparency and accountability is enhanced, the market will take care of the rest, without needing an overkill on regulations.  Tune in for this mighty-interesting chat. 

Dewan Housing Finance Ltd, a large housing finance company is undergoing insolvency proceedings. Its resolution is key as DHFL owes not just banks but also retail bondholders and depositors. A painless resolution would ensure retail lenders keep their faith in the system, and banks are able to limit a hit on their books through another bad loan. It would also show that IBC is a law that works for financial companies' resolution too.

Snubbing the lacklustre trade witnessed throughout the day, benchmark indices scaled new life-time highs on Tuesday. The S&P BSE Sensex edged towards the 42,000-mark to hit a new high of 41,994, while the broader Nifty50 crossed the psychological level of 12,350 to hit 12,374. At close, the Sensex was at record closing high of 41,953 level, up 93 points or 0.22 per cent, lifted by gains in HDFC, ITC, Axis Bank, and TCS. On the NSE, the Nifty50 settled 30 points or 0.25 per cent, higher at 12,360-mark. Among the key companies that were scheduled to report their Q3 earnings today, IT firm Wipro reported a 2.17% year-on-year decline in the consolidated net profit at Rs 2,456 crore. Sequentially, the number slipped nearly 4 per cent. The revenue for the firm came in at Rs 15,470 crore. On the other hand, private lender IndusInd Bank reported a standalone net profit of Rs 1,300 crore, up 32 per cent year-on-year. While the asset quality of the bank remained stable, it's provisions rose sharply by 41 per cent QoQ to Rs 1,043 crore. Among the key highlights, Ramesh Sobti, MD and CEO, of the private bank said that the bank has declared exposure to DHFL and Cox and Kings as 'fraud' in this quarter. Post the numbers, the bank first rose nearly 3 per cent, but declined 7.3% off day's high to hit an intra-day low of Rs 1471. That apart, on the economic front, India's wholesale inflation for the month of December rose to 2.59%, as against 0.58% in November. The food inflation rate rose to 13.2 per cent during the month as against 11 per cent in November. Within this category, onions saw an inflation rate of about 456 per cent compared to 172 per cent in November. Here's how the global markets performed today: Asian shares rose, China’s yuan jumped and safe-harbour assets slipped on Tuesday, amid signs of goodwill between China and the United States. Japan's Nikkei added 0.7% to hit its highest in a month, while Australian shares rose by the same margin to close at a record. In Europe, investors remained cautious ahead of their Q4 earnings. The pan-European STOXX 600 index fell 0.2 per cent in the early deals, in its third straight day of declines.

Economic revival depends a lot on recovery of the real estate sector while banks and NBFCs wait for resolution in the industry. In 2019, stock markets were shaken up by crisis like the DHFL and the government resolution measure for the real estate sector may not be enough. Mint's Nasrin Sultana speaks to Gulam Zia, Executive Director, Knight Frank India if there is more pain left in the sector?

The year 2019 has been quite eventful for the Indian markets! Right from corporate governance issues popping up almost every month, the collapse of NBFCs such IL&FS and DHFL, then the shady practices in scheduled banks such as the PMC Bank and now comes the Karvy fiasco. Read transcripts here: https://www.capitalmind.in/2019/11/podcast-the-strange-happenings-at-karvy-ep-15/ Deepak Shenoy (CEO) and Aditya Jaiswal (Analyst) discuss in detail how the Karvy fiasco unraveled followed by series of questions such as: What is a pool account and are brokers using it as means to fund themselves? Can brokers misuse the power of attorney signed by their clients? Is it safer to have demat accounts with banks? What should the existing clients of Karvy do? What happens to the banks/NBFCs who have lent money to Karvy?

In the absence of any major domestic trigger, global cues and stock-specific action will guide the markets today. In company-specific news, Subhash Chandra stepped down as chairman of Zee Entertainment following a board meeting yesterday. In another development, aviation regulator DGCA has barred IndiGo, from operating Airbus A320 and 321 Neo aircraft having turbine blades built with titanium, which is prone to damage leading to mid-air engine shut down. There's more trouble for DHFL as the government has ordered a Serious Fraud Investigation Office probe into the company's affairs as well as of five real estate companies. DHFL also formally put off its board of directors' meeting earlier scheduled for Monday to approve the second quarter financial results. All the respective stocks will react to the developments today. Apart from this, oil price, rupee's trajectory, and foreign fund flow will also influence market direction.  Global markets: Positive comments from the United States and China rekindled hopes in global markets that the world’s two largest economies could soon sign an interim deal to end their trade war. Asian stocks rose on Tuesday. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent. Australian shares were up 0.6 per cent, while Japan's Nikkei stock index rose 0.78 per cent. In US, each of Wall Street’s three major averages kicked off the trading week with record closes on Monday. The Dow Jones Industrial Average rose 0.68 per cent, the S&P 500 gained 0.75 per cent, and the Nasdaq Composite added 1.32 per cent. The SGX Nifty was also trading higher in the early hours, indicating a flat to positive start for the domestic indices. In commodities, oil prices edged higher on Monday and brent crude futures ended the session up 26 cents at $63.65 a barrel. Back home, benchmark indices yesterday posted their biggest single-day gain in a month. The benchmark Sensex rose 530 points to end at 40,889, while the Nifty added 159 points to end at 12,074. Going forward, analysts say that Nifty has again started forming higher tops and bottoms. It has also finally provided a breakout from the crucial swing resistance of 12,040 levels. Traders can now buy Nifty for the target of 12,300 with stoploss at 12,000. Here's a trading idea by Anand Rathi Shares and Stock Brokers who recommend buying Piramal Enterprises at current levels for the target of Rs 1,950 with stop-loss at Rs 1,800.

Investors will look at global cues, key Cabinet decisions, stock-specific developments, and oil price movement for market direction today. The Cabinet Committee on Economic Affairs yesterday approved the strategic disinvestment of the Centre’s entire stake in Bharat Petroleum, Shipping Corp, THDC India, and NEEPCO, and most of its stake in Container Corp while giving up management control in these companies. For the telecom sector, the Union Cabinet approved a two-year moratorium on payment of pending spectrum auction instalments. The latest move is expected to give more legs to the rally in the telecom sector which has been going on for the last four trading sessions after Bharti Airtel, Vodafone Idea, and Reliance Jio all announced they will soon raise their tarrifs. In company-specific news, the Reserve Bank of India (RBI) yesterday superseded the DHFL board over governance concerns and defaults on payment obligations. On the regulatory front, the Securities and Exchange Board of India has now made it mandatory for all listed companies to make public disclosures on loans defaults. Moving on to international developments, the minutes of the last US Fed meeting in October indicated that the Federal Reserve may not lower interest rates again anytime soon even though the officials stressed that risks to the US economy remained elevated. Global markets:   Asian shares slid on Thursday as a fresh row between Washington and Beijing over U.S. bills intended to support protesters in Hong Kong could complicate their trade negotiation. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.16 per cent while Japan's Nikkei dropped 0.25 per cent. On Wall Street, all three major indexes fell, with the S&P 500 losing 0.38 per cent. The Dow Jones Industrial Average fell 0.41 per cent, and the Nasdaq Composite dropped 0.5 per cent. The SGX Nifty was also trading lower in the early hours, indicating a subdued start for the domestic indices. In commodities, oil prices surged more than 2 per cent on Wednesday after a better-than-expected U.S. crude inventories report. Brent crude futures settled at $62.40 a barrel, gaining $1.49. Yesterday, the S&P BSE Sensex climbed 0.45 per cent to settle at 40,652 and the broader Nifty50 index ended at 11,999, up 0.49 per cent.  According to analysts, going forward, if Nifty is able to sustain above 12,000 in the coming trading sessions, it will be a set the path towards a newer high surpassing the previous high of 12,103. For this week, a range-bound movement seems likely with some profit booking in PSU bank stocks and pharma stocks. Here's a trading idea by CapitalVia Global Research Limited which recommends buying TCS above Rs 2,140 for the target of Rs 2,190 with stoploss at Rs 2,090.

Name of the Speaker: Mr Kunal M Phatangare Mr Kunal M Phatangare is an Advocate and Partner at M B Phatangare, Legal Consultants and Services, Nashik. The real estate sector is under radar in the Indian economy and the difficulties of the stakeholders including government and home buyers have not been resolved yet. With the collapse of IL&FS and DHFL, the concentration on this sector has increased multi-fold. In this episode we discuss the probable reasons for such slump in the Indian Real Estate Sector. Keep listening to VListen!

Headlines of the day: >> Dream continues on D-Street, Sensex ends at fresh closing peak, Nifty settles above 12K;  >> China says it agreed with US to roll back existing tariffs in phases;  >> Govt has no plans to participate in the rescue of DHFL, reports Reuters & >> Sun Pharma back in black in Q2, posts net profit of Rs 1,064 crore.   Equity markets witnessed yet another record-breaking session on Thursday as investor sentiment remained buoyed on Rs 25,000 crore booster dose for the realty sector. That apart, reports that government may announce measures for the crisis-hit NBFCs also boosted investor confidence. On the global front, US-China trade truce news further bolstered risk appetite of the equity investors.  The S&P BSE Sensex closed at a fresh closing peak of 40,653.74, up 184 points or 0.45 per cent, led by heavy buying in Reliance Industries (RIL), HDFC, ITC, Infosys, and HDFC Bank. Pharma major Sun Pharma (up 3 per cent) ended as the top gainer on the index after the company reported a profit of Rs 1,064 crore for September quarter of the current fiscal against loss of Rs 269.60 crore in the year-ago period.  YES Bank, on the other hand, slipped over 3 per cent to Rs 66.5 after the global rating agency Moody’s placed the private lender’s foreign currency issuer rating of ‘Ba3’ under review for downgrade. In the broader market, the S&P BSE MidCap index climbed 102 points or 0.69 per cent to end at 14,848 levels while the S&P BSE SmallCap index closed at 13,546, up 73 points or 0.54 per cent. On the NSE, the broader Nifty50 index closed above the 12,000-mark at 12,016, up 50 points or 0.42 per cent. Of 50 constituents, 30 advanced while 20 declined.  Volatility index India VIX fell over 4 per cent to 15.10 levels. Among the sectoral indices on the NSE, Nifty Metal index advanced the most, followed by Nifty Realty. Realty stocks rallied during the session after the Union Cabinet on Wednesday approved the setting up of a Rs 25,000 crore alternative investment fund (AIF) to revive around 1,600 stalled housing projects across top cities in the country. On the contrary, PSU bank stocks declined the most. The Nifty PSU Bank index slipped 1.50 per cent to settle at 2,482.35. Stocks that made news today:  Shares of MSTC zoomed 20 per cent to Rs 148 on the BSE after the construction & engineering giant Larsen & Toubro (L&T) appointed the company as its selling agent. Spandana Sphoorty Financial (SSFL) surged 8 per cent to Rs 1,344 on the BSE in the intra-day trade on Thursday, rallying 23 per cent in one week after the micro finance company reported more-than-double net profit for the September quarter (Q2FY20). The stock ended at Rs 1,312.75, up over 5 per cent.  Jindal Steel & Power (JSPL) hit an over four-month high of Rs 150, up 11 per cent on the BSE on Thursday on expectation of raw material benefits led by lower coking coal costs to offset the decline in steel prices in the near term. It ended over 10 per cent up at Rs 148.70.  In the global markets, Europe’s share markets hit a more than 4-year peak and bond yields shuffled higher on Thursday, as Beijing signalled a ‘phase 1’ trade deal with the United States was close to being sealed. E-Mini futures for the S&P 500, which has already set a new record high this week, were also a solid 0.5 per cent better off. In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan dipped a slight 0.2 per cent, just off a six-month high hit earlier in the week. Japan's Nikkei dithered either side of flat in very quiet trade, having touched a 13-month top on Wednesday. South Korean stocks stalled after hitting their highest since May, while Shanghai blue chips eked out a 0.2 per cent rise. In commodities, oil prices rebounded on trade deal hopes.

Indian shares are likely to open higher on Monday following gains in the global markets over progress in the US-China trade talks. Asian shares rose to 14-week highs after the United States and China said on Friday that they had made progress in talks aimed at defusing their protracted 16-month-long trade war, reported Reuters. Meanwhile, Prime Minister Narendra Modi said that the government is further improving the tax regime. At 7:00 am, the SGX Nifty was trading 26.5 points or 0.22 percent higher at 11,964, indicating a positive start for the Sensex and the Nifty. Stocks To Watch: YES Bank, Indiabulls Real Estate, DHFL in focus

A host of domestic and global factors would guide the market trajectory today. First, markets could react to the contraction in the core output data by record 5.2 per cent. The data released on Thursday after market hours raised concerns of slow economic growth in the second quarter of this fiscal year too. Furthermore, public sector banks could also react to Sebi's directive stating that all listed lenders will have to make disclosures pertaining to divergences and provisioning within a day of receipt of the RBI’s final risk assessment report.  On the macro front, Manufacturing PMI for October, foreign exchange reserves data for week ended October 25, and October GST collection figures are scheduled to be released later today. Besides, sentiment could be dented by the World Trade Organization's verdict against India in a trade dispute with the US. It has ordered to stop all export promotion schemes within the next four months.  On Thursday, the S&P BSE Sensex hit a fresh lifetime high of 40,392 in the intra-day deals but settled at 40,129, up 77 points or 0.19 per cent, while the Nifty50 added 37 points or 0.31 per cent to end at 11,881. EARNINGS ALERT Bank of India, Dr Reddy's Lab, JK Lakshmi Cement, and YES Bank are among the 33 companies scheduled to report their Q2 earnings today. Analysts expect the Bank to report a loss up to Rs 1,907.3 crore due to exposure to bankrupt companies like DHFL, McLeod Russel, and Cox & Kings. However, all eyes would be on the Board's decision with regards to the receipt of a binding offer worth $1.2 billion by a global investor.  GLOBAL CUES Asian shares fell on Friday on fresh concerns over Sino-US trade prospects. Chinese officials doubt that a comprehensive long-term trade deal with Washington and US President Donald Trump is possible, Bloomberg reported. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.09 per cent, while Japan's Nikkei slid 0.63 per cent in early trade. On Wall Street, the Dow Jones fell 0.52 per cent, the S&P 500 lost 0.30 per cent and the Nasdaq Composite dropped 0.14 per cent during the overnight trade on Thursday.

The Indian banking system is currently facing a severe crisis due to the bad loans that have been handed out in the last decade. NPAs have risen to uncomfortable limits, eroding the quality of capital. The shadow banking system ie the NBFCs are on the verge of collapse, as already seen in the case of IL&FS and DHFL. The decline in growth of GDP could be the tipping point in this delicate balance of our financial system.

Top headlines of the day: >> IMF says US-China trade war will have 'real spillover effects' for EMs >> Jio accuses Airtel, Vodafone Idea of fraudulently claiming inter-connect charges;  asks telecom regulatory authority to slap penalties >> VTB Group acquires rights to sell 10.71% stake in Zee Entertainment Enterprise to recover loan >> CRISIL reaffirms long-term rating of Indiabulls Housing Finance at 'AA+' >> Reports suggests, Bharti's Sunil Mittal and Hero Group's Sunil Munjal eye stake in Yes Bank Market cues: Markets are trading in the positive zone and are likely to maintain the up-move albeit in narrow range. The upside move on the Nifty could face resistance at 11,600 mark in the short-term.  For today, market investors would eye corporate earnings to steer through the trade. About 19 companies, including DHFL, Zee Entertainment, Force Motors, and TVS Motors are scheduled to report their September quarter earnings later in the day. That apart, global cues, oil price movement, the rupee's value against the dollar and foreign investment by FIIs and DIIs will guide the market trajectory. Trends on SGX Nifty suggest a flat start to the domestic markets today. At around 7:00 am, the Singaporean Exchange for Nifty Futures was trading 5 points lower.  Globally, Asian shares were trading flat on Thursday after soft U.S. retail sales data raised concerns about the health of the world’s largest economy and risk of global recession.  Besides, investors would await concrete decision on Brexit. Hopes are high on the prospects that the United Kingdom and the European Union could strike a fresh deal to avoid a no-deal exit in the summit slated for Thursday and Friday. Both MSCI's broadest index of Asia-Pacific shares outside Japan and Japan's Nikkei were little changed in early trade.  On Wall Street, US shares declined during the overnight trade on Wednesday. The Dow Jones slipped 0.08 per cent, the S&P500 declined 0.2 per cent, and the Nasdaq Composite settled 0.3 per cent lower.  On Wednesday, the S&P BSE Sensex added 93 points or 0.24 per cent to settle at 38,599 level, while the broader Nifty50 index ended at 11,471.55 levels, up 43 points or 0.38 per cent.

Indian shares are set for a muted start on Friday as investors turned cautious about the Q2 earnings, with TCS reporting lower than expected numbers.  Positive sentiment in the global markets may lend support to Indian equities. Asian and US stocks rose after US said trade talks are going better than expected.  At 7:22 AM, the SGX Nifty futures traded 5 points, or 0.04 percent, up at 11,266, indicating a flat start for the Sensex and the Nifty50. Stocks to watch: TCS, Infosys, Bajaj Consumer Care, DHFL, Tata Steel and others

Top headlines of the day >> Sensex settles nearly 300 points lower at 37,880 level amid brisk selling in banking stocks. The Nifty50, ended at 11,235 level, down 79 points. >> Bombay High Court allows Edelweiss AMC's plea for disclosure of all assets and liabilities of DHFL. The HC also noted that the existing restraint on DHFL on making payments to third parties will continue. >> IndusInd Bank on Thursday reported a 52 per cent rise in consolidated net profit at Rs 1,401 crore for September quarter.  >> Finance Minister Nirmala Sitharaman met some depositors of the PMC Bank today. She said, the govt would consider introducing necessary amendments in the upcoming Winter Session of the Parliament w.r.t Co-operative Banks The news in detail   Indian equities traded in the negative territory on Thursday as the RBI's rejection to the proposed Lakshmi Vilas Bank-Indiabulls Housing Finance merger pressed sell button at banking counters. The Nifty Bank index slipped over 800 points in the intra-day trade today, while the Nifty PSU Bank and Private bank indices, too, slipped nearly 3% in the intra-day trade. The benchmark S&P BSE Sensex ended the day at 37,880 level, down 298 points or 0.78 per cent. Bharti Airtel was the top gainer today, settling over 4 per cent higher, while IndusInd Bank settled as the top loser, down 6 per cent, after the bank's Q2 result missed street estimates. Of the 30 shares listed at the Sensex, 8 stocks advanced and 22 stocks declined.  Overall, market breadth remained in favour of declines, with approximately 8 stocks declining for every 1 stock that advanced at the BSE. However, despite the weakness in the market, nearly 38 stocks managed to hit 52-week high at the BSE. On NSE, the Nifty50 index ended at 11,235 level, down 79 points or 0.7 per cent. Bharti Airtel, Grasim and Reliance Industries, which gained between 3-5 per cent, were the top gainers at the 50-share index. On the downside, IndusInd Bank, YES Bank and GAIL settled as top losers, down in the range of 4-6 per cent. All the sectoral indices ended the day in the red. Nifty PSU bank index lost the most, down 3%, followed by Nifty Private Bank and Nifty Realty index.  Moving on to the broader market. Mid-caps took greater knock today, with the S&P BSE mid-cap index closing the day with nearly a per cent cut. The S&P BSE small-cap index, however, closed 0.57 pr cent lower.  Stocks that saw major movements today >> Shares of Lakshmi Vilas Bank hit an all-time low and were locked in the lower circuit limit of 5 per cent at Rs 25.65 apiece on the BSE on Thursday after the RBI rejected the proposed amalgamation of lndiabulls Housing Finance (IBHFL) with the bank. >> On the upside, shares of Bharti Airtel and Vodafone Idea jumped 7 per cent and 17 per cent respectively in the intra-day trade today after Reliance Jio (RJio) on Wednesday said it would charge 6 paise per minute on off-net calls. As a result, analysts at Motilal Oswal Financial Services, said that Bharti Airtel and Idea could see an increase in EBITDA by nearly Rs 2,800 crore. Global cues   In the global markets, Asian shares recovered from early losses as news reports raised hopes that the United States and China would settle some economic disputes. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.24 per cent while Japan's Nikkei rose 0.34 per cent. Shanghai shares also rose 0.49 per cent. 

The headlines -  >> Market stages smart recovery after six days of losses, Sensex rallies 646 pts, Nifty ends at 11,313; >> DHFL hits over 10-year low after CDSL freezes promoters' shareholding;  >> IT stocks slip ahead of TCS's Q2 results due tomorrow; & >> L&T, Whirlpool and Havells India among nine Indian firms that are expected to gain from an escalation in US-China trade tensions as the latter looks to shift manufacturing out of its country, says a recent report by Credit Suisse. And, now the news in detail -  Snapping their six-day losing streak, the benchmark indices staged a smart comeback on Wednesday to end nearly 2 per cent higher, led by heavy buying in banking stocks.  The S&P BSE Sensex added 646 points or 1.72 per cent to end at 38,177.95 levels with IndusInd Bank (up over 5 per cent) being the top gainer and YES Bank (down 5 per cent) the biggest loser. Out of 30 components in the index, 8 stocks ended in the red and rest 22 in the green. The broader Nifty50 index of the National Stock Exchange (NSE) ended at 11,313.30 levels, up 187 points or 1.68 per cent.  Nifty Bank advanced a whopping 1,018.30 points or around 4 per cent to settle at 28,785.85 levels, with 11 out of 12 constituents ending in the green.  India VIX, the volatility guage, dropped over 4 per cent to 17.09 levels.  Among the sectoral indices on the NSE, barring IT, all the indices ended in the green. Nifty Private Bank index gained 3.47 per cent to 16,095 levels. Financial services, realty and metal counters, too, made merry in the trade. In the broader market, the S&P BSE MidCap index rallied 189 points or 1.38 per cent to end at 13,869.35 levels, while the S&P BSE SmallCap index closed at 12,796.47, up 83 points or 0.66 per cent.  In other market statistics, the market breadth remained in favour of the bulls as out of 2,698 companies traded on the BSE, 1,281 advanced and 1,237 declined while 180 scrips remained unchanged. As many as 33 securities on the BSE hit 52-week high while 263 scrips hit their 1-year low. Further, around 148 companies on the BSE hit their upper circuit today while 276 hit their lower circuit limits.  Stocks that made news today -  Shares of Titan Company slipped 6 per cent to Rs 1,178 on the BSE during the session after the Tata Group company said that its revenue from the jewellery business could decline for the first time in the past four years in the September quarter (Q2FY20). The stock eventually settled at Rs 1,229 apiece, down 2.41 per cent. Shares of IndiaMART InterMESH surged around 18 per cent to end at Rs 2,261.55.  Shares of Dewan Housing Finance Corporation (DHFL) hit an over 10-year low and were locked in the lower circuit limit of 10 per cent at Rs 26.05 on the BSE on Wednesday after PTI report suggested that Central Depository Services (CDSL) has frozen the company’s promoter shareholding as the company has not filed results for the first quarter. In the global markets, Asian stocks fell the most in a week on Wednesday as the United States and China’s broadening dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.61 per cent. Chinese shares fell 0.32 per cent after briefly touching a five-week low.

Market cues before today's trading session --  September quarter earnings, global cues, oil price movement, the value of rupee against the dollar and fund flow by FPIs and DIIs will be the driving force for the markets today. Markets will resume trading after a day's holiday and will watch out for Q2 results of about 6 companies, including Goa Carbon, that are scheduled to announce results later in the day.  Investors with global equity exposure may eye minutes of the Federal Reserve's September monetary policy meeting scheduled to be released later today. Fed chair Jerome Powell, in a speech on Tuesday, flagged openness to further rate cuts. On Monday, the S&P BSE Sensex lost 141 points or 0.38 per cent to end at 37,532 levels, while the broader Nifty50 index settled at 11,126-mark, down 48 points or 0.43 per cent.  According to analysts at Anand Rathi Shares and Stock Brokers, the Nifty index continues to form lower tops and lower bottoms, indicating that the bears have an upper hand. After slipping below short-term 20-DMA, Nifty now stares at 50-DMA -- at 11,087 -- for some support. The key support level for Nifty is placed at 11,081.47, followed by 11,036.53. As per trends on SGX Nifty, indices may see a flat to positive start today. Global markets were spooked on Wednesday after the U.S. imposed visa restrictions on Chinese officials and the added more Chinese companies to a trade blacklist. Remember, delegations from both the sides are scheduled to meet tomorrow to discuss the year-long trade dispute. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent. Japan's Nikkei slid 0.81 per cent and Australian shares were down 0.92 per cent On Wall Street, the Dow Jones fell 1.19 per cent, the S&P500 slipped 1.56 per cent, and the Nasdaq Composite declined by 1.67 per cent during the overnight trade on Tuesday.  In the commodities market, Brent Crude Futures were trading at $57.99 per barrel mark. Top headlines for the day -- >> Q2 Nifty50 earnings could be one of the worst corporate results in recent years despite the corporate tax cut, say analysts >> S&P says, India's financial sector needs governance overhaul >> Leading depository CDSL has frozen shareholding of the promoters of debt-ridden DHFL due to a delay in the announcement of the company's financial earnings

Indian shares are likely to open in the green on Wednesday on easing fiscal deficit and inflationary concerns after Saudi Arabia said it had fully restored its oil supply. Saudi Energy Minister Prince Abdulaziz bin Salman said the kingdom has recovered supplies following attacks on its crude facilities by tapping inventories. At 7:00 am, the SGX Nifty futures traded higher by 0.43 percent, or 46.50 points, at 10,888.50, indicating a positive start for the Sensex and the Nifty. Stocks To Watch: Coffee Day Enterprises, Hindalco, Bajaj Finance, DHFL in focus.

Extending their gains for the second straight day, equity benchmark indices ended in the positive territory on Monday led by buying in counters such as HDFC, Larsen & Toubro (L&T), ICICI Bank, Maruti and Bajaj Finance.  The S&P BSE Sensex added 164 points or 0.44 per cent to settle at 37,145.45, with YES Bank (up over 4 per cent) being the top gainer and HCL Tech (down 1.50 per cent) the worst performer.  On NSE, the Nifty50 index reclaimed the crucial 11,000 level to settle at 11,003.05, up 57 points or 0.52 per cent. Out of 50 constituents, 35 advanced while 15 declined.  Volatility index India VIX slipped around 3 per cent to settle at 15.79.  Market breadth was in favour of the bulls as out of 2,719 stocks traded on the BSE, 1,602 advanced, 935 declined while 182 remained unchanged.  In the broader market, the S&P MidCap index surged 130 points, or 0.97 per cent, to 13,495 levels, and the S&P BSE SmallCap ended at 12,709.96, up 115 points or 0.92 per cent.  On the sectoral front, all the indices on NSE, except Nifty IT index ended in the red. PSU bank stocks gained the most, followed by private bank and auto counters. The Nifty PSU Bank index gained 1.61 per cent to settle at 2,419.70. Among individual stocks, Dilip Buildcon zoomed 11 per cent to end at Rs 425.25 apiece on the BSE. The company has recently signed deal to sell 100 per cent equity in five Hybrid Annuity Model (HAM) projects to Cube Infra. Equitas Holdings ended over 6 per cent lower at Rs 108.55 apiece after Reserve Bank of India (RBI) denied to extend deadline for its subsidiary Equitas Small Finance Bank (ESFB), to get listed at the bourses. DHFL gained over 5 per cent to Rs 49 after it paid the entire pending amount to DSP Mutual Fund.

Indian shares are set for a mixed start ahead of the expiry of future and derivative contracts and amid muted trades in global markets. Asian shares eked out meager gains on Wednesday, as higher Wall Street futures provided some relief for investors after an overnight US selloff, though deeper worries about the global economy are likely to keep a lid on sentiment. On Tuesday, Indian benchmark indices the Sensex and the Nifty50 ended higher for the third straight session led by auto and banking stocks, as ebbing global trade war worries and expectations of further stimulus supported by a huge dividend from the central bank boosted investor sentiment. The 30-share benchmark Sensex settled 147 points higher, or 0.39 percent up, at 37,641. The broader 50-share NSE index also ended higher at 11,115, up 57 points, or 0.52 percent. At 7.20 AM, the Nifty Futures traded 0.13 percent higher at 11,124.50, indicating a mixed start for the Sensex and the Nifty. Stocks to watch: IndiGo, DHFL, Oberoi Realty in focus.

Another week of slowdown in the markets over fears of a looming slowdown in the domestic and global economy continue. Macroeconomic cues and the rupee movements swayed the stock markets this week. Indian rupee became Asia's worst performing currency this month. Pain in NBFC space continued to weigh on the markets. DHFL witnessed pressure after it defaulted on bond payments. Globally, stock markets remained uncertain over the outlook for US interest rate cuts following the release of minutes from the Federal Reserve's last policy meeting kept investors on edge. The stock markets all over, look gloomy from the near-term perspective. But when you look at the economy and the market from a longer-term horizon, the picture looks very different. And this also creates an opportunity. Tune in to know more…

Global cues, rupee trajectory, and oil price movement will be the top factors that will give direction to the markets today as investors continue to await measures from the government to spur growth. Stocks of non-banking financial firms may be in focus today after the government said such firms would no longer have to maintain a certain level of redemption reserves against them. On the taxation front, the Direct Tax Code (DTC) task force has recommended a significant increase in the highest income tax slabs, besides slashing the corporate tax rate to an even rate of 25 per cent for both domestic and foreign companies, as per a Business Standard report. Globally, senior White House officials are reportedly discussing a temporary payroll tax cut to boost the economy. The People’s Bank of China has already taken steps to lower corporate borrowing costs while Germany is reportedly prepared to increase fiscal spending. Yesterday, the S&P BSE Sensex ended 0.14 per cent higher at 37,402 levels, while the Nifty50, settled at 11,054 levels, up 0.05 per cent. In the currrency market, the Rupee tumbled 28 paise to close at an over six-month low of 71.43 against the dollar. Asian shares extended their gains on Tuesday as hopes for stimulus in major economies tempered anxiety about a global recession. MSCI’s broadest index of Asia-Pacific shares outside Japan nudged up 0.04 per cent, while Japan’s Nikkei jumped 0.47 per cent. The improved mood was helped by a rally on Wall Street overnight, with the S&P 500 gaining 1.21 per cent and the Dow Jones up 0.96 per cent. At 07:43 am, Nifty futures on the Singapore Exchange were trading 16.50 points lower at 11,040, indicating a negative start for the Indian market today.  Here's a look at the top headlines for the day -  -- RBI Governor Shaktikanta Das has said it's time to formally link lending rates to repo rate; -- Cash-strapped DHFL makes fresh default on Rs 1,571-crore bond repayments;  -- PM Modi raises Imran Khan's 'extreme' anti-India rhetoric with Donald Trump; & -- Sebi to relax buyback norms for companies with HF, NBFC subsidiaries.

Indian benchmark indices are set for a mixed start on Tuesday as markets await a relief package from the government to revive growth. Meanwhile, gains in Asian markets and the government’s plan to revise tax rates for the individual taxpayers and corporates may lend support. Asian shares advanced as hopes for stimulus in major economies tempered anxiety about a global recession. In the previous session, the BSE Sensex and NSE's Nifty50 ended mildly higher led by pharma and IT indices leading the gains. However, losses in banking and auto stocks capped the gains. The Sensex ended 52 points higher at 37,402, while the broader Nifty50 index added 6 points to end the day at 11,054. At 7:20 AM, the SGX Nifty futures traded 25 points, or 0.23 percent, lower at 11,031.50, pointing to a negative start for the Sensex the Nifty. Stocks to watch: MRPL, CG Power, DHFL, Vodafone Idea in focus.

Indian shares are likely to open on a positive note on Tuesday over hopes that the government, after Nirmala Sitharaman’s meetings with industry leaders, may announce several measures to ease the liquidity crunch and stimulate growth.    However, selloffs in stocks markets in Asia and the US may cap gains. Global equity markets fell amid escalating US-China trade tensions and a crash in Argentina’s peso.    On Friday, Indian benchmark indices snapped four-week losing streak to end over 0.5 percent higher for the week amid hopes that the government may roll back the recently imposed surcharge on foreign policy investors (FPIs).   The Sensex settled 254.55 points higher, or 0.68 percent, to close Friday's trade at 37,582. The Nifty50 also gained 77 points, or 0.70 percent, to settle at 11,109.65.   At 7.10 AM, the SGX Nifty futures traded 26 points, or 0.23 percent, higher at 11,116, indicating a positive start for the Sensex and the Nifty 50.   Stocks to watch: Reliance Industries, DHFL, Jet Airways, Tata Motors in focus. 

In today's session, investors may react to reports that the government may exempt foreign portfolio investors from additional surcharge. Overseas investors have pulled out nearly Rs 22,000 crore from domestic equities since the surcharge decision was introduced in the Union Budget on July 5. Moreover, Finance minister Nirmala Sitharaman will today meet market participants including senior officials of foreign portfolio investors and mutual funds to ascertain views on current issues relating to financial markets. Investors will continue to react to June quarter earnings, first the ones declared yesterday after market hours and the 249 others scheduled to be announced today that includes Spicejet, Britannia Industries, MRF, BHEL, and Cadila Healthcare, among others. Analysts expect SpiceJet to post robust growth in net profit and earnings before interest, tax, depreciation, amortization and restructuring and rent cost (EBITDAR) margin in its Q1FY20 results. You can read our full preview on what analysts expect from SpiceJet's result on our website.  Apart from this, investors will also track global cues, any progress in monsoon, foreign fund flow, rupee's trajectory, and oil price movement. They will also look out for the industrial production data for June which is set to be declared later today. The Sensex rose 1.74 per cent to end at 37,327, while the Nifty50 index gained 1.63 per cent to settle at 11,032 on Thursday. Now, let's take a look at the global markets.  The US equities continued to rebound on Thursday. The S&P 500 registered its largest one-day percentage gain in about two months, with the Dow and the Nasdaq also climbing more than 1 per cent each. Asian shares caught the tail of a Wall Street rally on Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent but was on track to lose 2.3 per cent for the week. Japan’s Nikkei average advanced 0.6 per cent, while Australian stocks stood flat and South Korean stocks gained 1 per cent. Nifty futures on Singapore Exchange (SGX) were trading 19 points or 0.17 per cent higher at 11,090 levels, indicating a positive start for the Indian market.  And, before we wrap up, here're the top headlines for the day -  >> The Coffee Day Enterprises board has appointed EY for forensic audit DHFL has informed the stock exchanges that it may not be able to repay due in the near future The Ministry of Corporate Affairs has said it would only look at whether the allegations of governance lapses were a management dispute or volation of companies law The board of Reliance Capital has denied all allegations raised by the erstwhile auditor PricewaterhouseCoopers (PwC) in its letter to the Ministry of Corporate Affairs.

Indian shares are likely to open lower on Wednesday ahead of the Reserve Bank of India’s monetary policy decision later in the day. According to a CNBC-TV18 poll, the central bank is likely to bring down the key repo rate by 25 basis points. Moreover, June quarter earnings and continued selling by FIIs may also weigh on Indian shares. Asian shares traded marginally higher after China took steps to stabilise yuan. BSE Sensex and NSE’s Nifty 50 closed nearly 0.8 percent higher in the previous session led by value buying in financial and auto stocks. The Sensex settled 277 points higher, or 0.75 percent, to close Tuesday's trade at 36,977. The Nifty50 also gained 86 points, or 0.79 percent, to settle at 10,948. At 7.26 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, futures traded 55 points, or 0.55 percent, lower at 10,907, indicating a negative start for the Sensex and the Nifty 50. Stocks to watch: RIL, Fortis, DHFL, Tata Steel, DMart in focus.

RBI policy meet, June quarter results, macroeconomic data, and global cues are the key factors that will sway market sentiment this week. This apart, progress in monsoon, foreign fund flow, oil price, and the movement of rupee against the US dollar will also be on investors' radar. They will keep an eye out for various domestic and global macroeconomic prints set to be released this week, including India-Market PMI services and IIP figures. Companies will continue to roll out June quarter earnings. The big ones include Indiabulls Housing Finance, Titan, HCL Tech, Mahindra & Mahindra, and Tata Steel. Investors will react to these and other major results announced post market hours on Friday and during the weekend that includes results of ITC, Nestle, Care Ratings and JK Cement. Today, as many as 100 companies, including the likes of Bombay Dyeing, SRF, Tata Power, and Torrent Power are scheduled to announce their June quarter earnings today. Now, let's focus on the primary market. Microfinance lender Spandana Sphoorty Financial will launch its Rs 1,200-crore initial public offering (IPO) today. Spandana’s business is a new one, with almost no baggage of the past.   Additionally, markets will react negatively to any escalation on the US-China trade war front, revived last week by US President Donald Trump who announced 10 per cent tariffs on $300 billion Chinese imports. Now, let's take a look at the global markets. Asian shares extended their losses on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.25 per cent. Japan's Nikkei slipped 1.1 per cent, while Australian shares were also down. In the commodities market, oil prices were pulled down on demand worries. Brent crude was down 50 cents at $61.39 a barrel while US crude was down 24 cents at $55.42 a barrel. And now, here're the top headlines for the day - >> Govt moves SC to make NCLT judges stick to deadline for resolving cases; >> Embassy may call off stake-purchase deal with Indiabulls Real Estate;  >> Economic slowdown is cyclical; growth will pick up in 1-2 yrs: Bimal Jalan;  >> Deloitte quits as auditor of crisis-hit DHFL

Fresh trade war concerns could weigh investors' sentiment today as US President Donald Trump, in a tweet last night, said that Washington would slap fresh tariffs of 10% on the remaining $300 billion worth of Chinese imports from Sept 1. That apart, corporate results, global cues, and update on monsoon will give direction to the market today. Globally, Wall Street fell after Trump's tweet. The Dow Jones Industrial Average lost 1.05 per cent, the S&P 500 fell 0.9 per cent and the Nasdaq Composite dropped 0.79 per cent in the overnight trade on Thursday.  Asian stocks, too,  tumbled in the early trade. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.51 per cent while Japan's Nikkei tumbled 1.91 per cent. SGX Nifty, the Singaporean exchange for Nifty Futures, also suggests a negative start for the indices.  On Thursday, indices hit fresh five-month lows with the S&P BSE Sensex slipping below the 37,000 mark and the broader Nifty50 breached 11,000 mark in the intra-day trade.  The Sensex ended 463 points, or 1.23 per cent, lower at 37,018 level while the Nifty50 ended the day with losses of 138 points, or 1.24 per cent, at 10,980 mark. Now, lets see the stocks that are likely to remain in focus today-- >> Bharti Airtel reported its Q1 result yesterday, after market hours, and posted a loss of staggering Rs 2,866 crore. However, revenue was up 2.8 per cent at Rs 15,345 crore. >> Auto stocks may be in focus as data showed that sales in July continued to go down amid poor demand. >> Public lender SBI is scheduled to report its June quarter result today and is expected to clock a net profit of Rs 5,934.5 crore as compared to a net loss of Rs 4,875.9 crore in Q1FY19. In total, 82 companies are scheduled to declare their Q1 results today. You can read full coverage on these results and other companies on our website. At last, here are the top headlines-- >> DSP Mutual Fund has initiated legal action against DHFL to recover dues >> Lenders are unwilling to provide extra funds to the beleaguered Jet Airways >> GST collections were back above the Rs 1 trillion mark in July despite a subdued central and state GST revenue mop-up.

It’s been almost two months since the fixed income market was hit with the DHFL downgrade. While the company subsequently made the payment it had missed on June 4, liquidity problems persist not just with DHFL but with a raft of entities within corporate India. Jet Airways, Zee, Eveready, McLeod Russel, Cox and Kings…the list of stressed companies, rating downgrades and defaults has become longer and longer. In this environment, how should investors approach debt mutual funds? Is credit really a bad word? Are there any relatively safe funds one can 'hide' in and hopefully also earn better returns than a fixed deposit? We take this conversation forward with Amit Tripathi, CIO, fixed-income investments at Reliance Nippon Life Asset Management and Feroze Azeez, deputy CEO of Anand Rathi Financial Services.

As many as 43 companies are scheduled to declare their June quarter results today. Analysts expect Tata Motors' revenue and bottom-line to be hit by the decrease in volume across all segments and see a 28-30 per cent year-on-year (y-o-y) fall in net profit and 13-16 per cent dip in revenue for the period under review. On the other hand, Bank of Baroda is expected to post stronger numbers on standalone basis while analysts would eye results for the merged entity. You can read more on what analysts expect from both the results on our website Business Standard.com Now, let's see how the global markets have fared overnight and they mean for Sensex and Nifty. US stocks pushed higher overnight after a series of weaker-than-expected purchasing manager index readings in the United States and Europe on Wednesday bolstered hopes of a Fed rate cut. Although the Dow fell 0.29 per cent to 27,270, the S&P 500 gained 0.47 per cent to 3,020 and the Nasdaq Composite added 0.85 per cent to 8,321. Asian shares, however, were cautious. Japan’s Nikkei gained 0.5 per cent, Australia’s benchmark index hit a new 12-year top, while MSCI’s broadest index of Asia-Pacific shares outside Japan were unchanged. SGX Nifty is indicating a positive start for the domestic indices. Next, let's see what today's top headlines are -- IndiGo's warring promoters Rahul Bhatia and Rakesh Gangwal have agreed on a board structure that gives higher representation to Bhatia’s InterGlobe Enterprises (IGE). However, the board has agreed to strengthen the policy on related-party transactions, as demanded by Gangwal. The Union Government has approved Trai's to levy a total penalty of Rs 3,050 crore on Bharti Airtel and Vodafone Idea for refusing to provide points of interconnection to Reliance Jio. DHFL has defaulted on bond repayments worth Rs 8.07 crore on July 23, as per an exchange filing. Credit rating agency Icra has downgraded ratings on Yes Bank’s bonds worth ₹32,911.7 crore, citing an increase in stressed assets and lack of debt resolutions. And finally, most mid-tier IT companies have put up a dismal performance in the first quarter of the financial year 2019-20 (Q1FY20), nudging brokerages to not only slash target prices for stocks, but also downgrade their ratings. We have a special story exploring the road ahead for these companies, and what you, the investor, should do about these stocks. For this article, more news and market updates, log on to Business-Standard.com

Indian shares are expected to start tepid on Tuesday, as investors remain cautious following disappointing June-quarter earnings. Indian equity benchmark indices ended lower on Monday dragged by financials and continued selling by foreign investors. The Sensex ended 306 points lower at 38,031, while the broader Nifty50 index lost 82 points to end at 11,337. In global markets, Asian shares propped up following expectations of policy easing by major central banks, including the US Federal Reserve. At 7.10 AM SGX Nifty, an early indicator of the Nifty 50's trend in India traded 8 points, or 0.07 percent, lower at 11,346.50, indicating a flat start for the Sensex and the Nifty 50. Stocks to watch: Kotak Mahindra Bank, TVS Motor, IndiGo, DHFL in focus.

Corporate earnings will continue to be the biggest factor in shaping the market direction today while investors will also look out for global and other domestic cues. About 46 companies, including Hindustan Unilever, Larsen & Toubro, and Zee Entertainment Enterprises, are scheduled to declare their June quarter results today. Hindustan Unilever (HUL) is expected to post steady numbers for Q1FY20 owing to its shift towards natural products and increasing premiumisation amid slowdown in the consumption space. You can read our full preview on what analysts expect from HUL on our website. Investors will also react to major results announced yesterday after market hours. TVS Motor Company reported a 3 per cent decline in net profit at Rs 142.30 crore for the first quarter ended June 30 as compared to a net profit of Rs 146.61 crore in the year-ago period. Additionally, market participants will continue to track the progress in monsoon, oil price, and the movement of rupee against the US dollar. Benchmark indices extended their losing streak on Monday. The S&P BSE Sensex lost 0.8 per cent to settle at 38,031, while the broader Nifty50 index slipped 0.72 per cent to 11,337 levels.  Now, let's see how the global markets have fared overnight and they mean for Sensex and Nifty Expectations of policy easing by the Federal Reserve propped up US stocks on Tuesday, with the S&P 500 edging up towards a record high overnight. Asia followed suit. MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.02 per cent. Japan's Nikkei rose 0.25 per cent, while South Korea's KOSPI gained 0.2 per cent. SGX Nifty is also indicating a positive start for the domestic indices. Let's go through top headlines for the day --  DHFL filed its audited results for the March quarter yesterday, and revealed that its auditors had raised several red flags around its numbers. The National Housing Bank has asked housing finance companies to desist from offering loans that involve servicing by builders on behalf of borrowers As per a Business Standard report, IndiGo promoter Rahul Bhatia may meet SEBI chairman Ajay Tyagi later this week.  And finally, here's a stock call by Prabhudas Liladher. The brokerage is bullish on Reliance Industries and says traders can look to initiate longs at current levels for a target of Rs 1385 and the stop loss should be fixed at Rs 1220.

Today, the benchmark indices may take hint from their global peers which moved higher after expectations of a rate cut by Federal Reserve strengthened. Another big factor affecting the investor sentiment today will be the Union government's stance on the "super-rich" tax on FPIs, which Finance Minister Nirmala Sitharaman yesterday said will remain undiluted.  Investors will continue to track the June quarter earnings. Reliance Industries and InterGlobe Aviation, IndiGo's parent company, are among the 27 companies scheduled to announce their results today. You can read our preview on what analysts expect from the results on our website www.businessstandard.com Yesterday, the benchmark S&P BSE Sensex closed 0.81 per cent lower at 38,897 level. The broader Nifty50, too, ended at 11,597 mark, down 0.78 per cent amid fresh trade war concerns and mixed June quarter earnings. Now, let's see how the global markets have fared overnight and they mean for Sensex and Nifty US stocks moved higher on Thursday as comments from New York Fed President John Williams helped cement expectations for an interest rate cut.  Asian stocks took clues from Wall Street to inch higher. Australian stocks added 0.4 per cent, South Korea’s KOSPI rose 0.8 per cent and Japan’s Nikkei advanced 1 per cent. And, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3 per cent. SGX Nifty is also indicating a positive start for the domestic indices. Let's go through top headlines for the day --  -- The controversial super-rich tax on foreign portfolio investors (FPIs) that are organised as trusts will stay undiluted, Finance Minister Nimala Sitharaman said on Thursday as Parliament passed the Finance Bill, 2019 -- An independent review of IndiGo’s related-party transactions has found no major procedural lapses by the company -- The interim resolution professional (IRP) handling Jet Airways insolvency has received claims of more than Rs 24,000 crore from its lenders, vendors, travel agents, and employees -- Insurance companies exposed to DHFL's debt papers have approached the Irdai to get a go-head from the regulator for participating in the inter-creditor agreement for DHFL, as per a Business Standard report. And finally, here's a commodities call by Tradebulls Securities, who recommend selling gold with target of 34,280 and stoploss of 35,100 closing basis

Today, the benchmark indices may take hint from their global peers which moved higher after expectations of a rate cut by Federal Reserve strengthened. Another big factor affecting the investor sentiment today will be the Union government's stance on the "super-rich" tax on FPIs, which Finance Minister Nirmala Sitharaman yesterday said will remain undiluted.  Investors will continue to track the June quarter earnings. Reliance Industries and InterGlobe Aviation, IndiGo's parent company, are among the 27 companies scheduled to announce their results today. You can read our preview on what analysts expect from the results on our website www.businessstandard.com Yesterday, the benchmark S&P BSE Sensex closed 0.81 per cent lower at 38,897 level. The broader Nifty50, too, ended at 11,597 mark, down 0.78 per cent amid fresh trade war concerns and mixed June quarter earnings. Now, let's see how the global markets have fared overnight and they mean for Sensex and Nifty US stocks moved higher on Thursday as comments from New York Fed President John Williams helped cement expectations for an interest rate cut.  Asian stocks took clues from Wall Street to inch higher. Australian stocks added 0.4 per cent, South Korea’s KOSPI rose 0.8 per cent and Japan’s Nikkei advanced 1 per cent. And, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3 per cent. SGX Nifty is also indicating a positive start for the domestic indices. Let's go through top headlines for the day --  -- The controversial super-rich tax on foreign portfolio investors (FPIs) that are organised as trusts will stay undiluted, Finance Minister Nimala Sitharaman said on Thursday as Parliament passed the Finance Bill, 2019 -- An independent review of IndiGo’s related-party transactions has found no major procedural lapses by the company -- The interim resolution professional (IRP) handling Jet Airways insolvency has received claims of more than Rs 24,000 crore from its lenders, vendors, travel agents, and employees -- Insurance companies exposed to DHFL's debt papers have approached the Irdai to get a go-head from the regulator for participating in the inter-creditor agreement for DHFL, as per a Business Standard report. And finally, here's a commodities call by Tradebulls Securities, who recommend selling gold with target of 34,280 and stoploss of 35,100 closing basis

Indian shares are set for a flat start on Tuesday on the back of disappointing macroeconomic data and amid the June quarter earnings season. India’s business sentiment in June hit the lowest level since 2016 due to slowing economic growth, water shortage, and regulatory hurdles, according to a survey by market research firm IHS Markit. Meanwhile, exports declined by 9.71 percent to $25.01 billion in June 2019. Asian shares trade marginally higher ahead of US retail sales and amid corporate earnings. Indian benchmark indices BSE Sensex and NSE’s Nifty 50 rose in the previous session led by IT stocks. The Sensex ended 160 points higher at 38,897 while the broader Nifty50 index added 36 points to end at 11,588. At 7.20 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, traded 7.5 points, or 0.06 percent, lower at 11,579, indicating a muted start for the Sensex and the Nifty 50. Stocks to watch: DHFL, Ashok Leyland, HDFC Bank in focus.

Indian benchmark indices are likely to open little changed on Monday in line with global markets ahead of Chinese GDP data. Investors are also cautious amid ongoing June quarter earnings season. Asian shares were down marginally in thin trades as Japanese markets were shut for a public holiday. India’s retail inflation rate hit an eight-month high in June on higher food prices, but stayed below the RBI's medium-term target of 4 percent for an eleventh straight month. On Friday, the Sensex ended 87 points lower at 38,736, while the broader Nifty50 index lost 35 points to end at 11,548. At 7.00 AM, the SGX Nifty futures traded 6 points, or 0.05 percent, up at 11,552.50, indicating a flat start for the Sensex and the Nifty 50. Stocks to watch: DHFL, IndiGo, SpiceJet, Jet Airways, ONGC in focus.

In today's trading session, investors may react primarily to June quarter results, macro numbers, and stock-specific action. Bajaj Consumer Care, Tata Metaliks, and Gujarat Hotels are among the eight companies set to declare their June quarter results today.  Also, India's Wholesale price inflation and balance of trade data for June will be out today. Traders may also react to the industrial production data for May and retail inflation prints for June that were released after market hours on Friday. On a global scale, China will present its second-quarter GDP numbers later in the day. On Friday, the benchmark S&P BSE Sensex closed at 38,736 levels, down 0.22 per cent, while the broader Nifty50 settled at 11,552 levels, down 0.26 per cent.  Global Markets SGX Nifty is indicating a flat to negative start for the domestic indices. Asian shares started the week on a softer note on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan was a shade lower at 524.9 points. Australian shares slipped 0.8 per cent while South Korea’s inched 0.3 per cent lower. In the US, all three major indexes posted record closing highs on Friday. The S&P 500 closed above the 3,000 level for the first time. The Dow Jones rose 0.9 per cent, to 27,332, the S&P 500 gained 0.46 per cent, to 3,014 and the Nasdaq Composite added 0.59 per cent, to 8,244 Top headlines for the day Infosys announced their June quarter earnings after market hours on Friday and reported a 5.26 per cent year-on-year rise in its net profit at Rs 3,802 crore. After months of delay, DHFL on Saturday released its standalone unaudited results for the March 2019 quarter in which the crisis-hit firm reported a net loss of Rs 2,223 crore. The board of InterGlobe Aviation will seek clarification from co-promoter Rakesh Gangwal on his allegations at the board meeting on July 19.

Indian shares are likely to open higher on Thursday, tracking gains in Asia, after US Federal Reserve chair Jerome Powell reinforced prospects of a US interest rate cut later this month. Federal Reserve chairman Jerome Powell on Wednesday set the stage for the rate cut this month, as records from policymakers' latest meeting showed increasing fear that a US-China trade war that has done little to directly restrain growth is indirectly causing businesses to hold back on buying equipment, giving workers a raise and hiking their prices. On Wednesday, the Sensex ended 174 points lower while the Nifty closed below 11,500 for the first time since May 17, dragged mainly by auto, metal and PSU Bank stocks. At 7.40 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, traded 45.50 points, or 0.40 percent, higher at 11,540, pointing to a higher start for the Sensex and the Nifty 50. Stocks to watch: IndiGo, DHFL, HDFC in focus.

Indian shares are set for a flat start on Wednesday amid muted trades in global markets and post-Budget selling pressure. Asian shares traded little changed following losses in US markets as investors await Fed chairman Jerome Powell's testimony before US Congress for further cues on Federal Reserve’s monetary policy. Indian benchmark indices Sensex ended 10 points higher at 38,731, while the broader Nifty50 index lost 3 points to end at 11,556 today. At 7.18 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, traded 12 points, or 0.10 percent, higher at 11,573.50, pointing to a tepid start for the Sensex and the Nifty 50. Stocks to watch: IndiGo, TCS, DHFL, State Bank of India in focus. 

Indian shares are expected to open lower on Monday as post-Budget pressure on equities likely to continue for the second day. Benchmark indices BSE Sensex and NSE’s Nifty 50 fell nearly 1 percent on Friday following various Budget proposals such as buyback tax on companies, higher taxes on the super-rich and raising the limit of minimum public shareholding. The Sensex ended 395 points lower at 39,515, while the broader Nifty50 index lost 136 points to end at 11,811.  Moreover, Asian shares traded lower after positive US jobs data tempered prospects of aggressive US Federal Reserve monetary policy.  At 7.55 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, traded 47.50 points, or 0.40 percent, lower at 11,770, pointing to a negative start for the Sensex and the Nifty 50.  Stocks to watch: DHFL, Maruti Suzuki, Mindtree, PNB in focus.

Indian benchmark indices are likely to open little changed on Tuesday, tracking muted trends in global markets. Asian shares traded mixed after disappointing PMI data. Meanwhile, US stocks hit record highs in the previous session following progress in US-China trade negotiations. Indian markets have turned cautious ahead of the Union Budget, which will be presented in the Parliament on July 5. On Monday, the broader NSE Nifty50 closed 0.65 percent higher at 11,865.60, while the benchmark 30-share BSE index settled 0.74 percent firmer at 39,686.50. At 7.00 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, traded only 9 points or 0.08 percent higher, indicating a flat start for the Nifty 50 and the Sensex.  Stocks to watch: Hero MotoCorp, Tata Motors, DHFL in focus.

Indian benchmark indices are likely to edge higher on Monday following gains in global markets after positive development in US-China trade negotiations. Investors, however, will remain cautious ahead of the Union Budget on July 5.  Stocks also rallied and bonds retreated in Asia on Monday as a thaw in the Sino-US trade dispute tempered risks to the global economy, leading investors to pare wagers on aggressive policy easing by the major central banks. Oil prices rose over $1 a barrel after Russia agreed with Saudi Arabia to extend supply cuts for another six to nine months ahead of an OPEC meeting this week. Indian benchmark indices closed lower on Friday with the Sensex ending the session 192 points lower at 39,395, while the broader Nifty50 index losing 53 points to end at 11,789.  At 7.27 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, traded 11.50 points, or 0.10 percent, higher at 11,849.50, pointing to a positive start for the Sensex and the Nifty 50. Stocks to watch: DHFL, Jet Airways, JSW Steel in focus. 

Join your Simblified hosts as they sniff around to find out what ails NBFCs and indeed, what NBFCs do exactly. Find out how bad the mess is and how it got so. And suffer some bad puns and jokes along the way NEW TO SIMBLIFIED? It's an Indian podcast - probably the best to come from Malad West - that takes things that happen around us, and deconstructs them in a language you can understand, often surmounting several puns and PG Wodehouse references along the way. We aim to make you appear smarter during parties, job interviews, and dates. Your hosts (and Twitter / Instagram handles) are Chuck (@chuck_gopal / @chuckofalltrades), Srikeit (@srikeit, @srikeit) and Naren (@shenoyn, @shenoynv). You can listen to this show and other awesome shows on the IVM Podcasts app on Android: https://ivm.today/android or iOS: https://ivm.today/ios, or any other podcast app. You can check out our website at http://www.ivmpodcasts.com/

The stock markets remained flat throughout the week as domestic and global macro factors took over. Now with the budget approaching next week, how will the market react will be the thing to watch out for. In today’s episode, we talk about the G-20 meeting, global trade war scenario and gold prices. We also talk about the concerns over oil prices. Apart from this, featuring in the podcast is NBFC crisis and DHFL’s default. And we have lots more. Tune in…

Indian benchmark indices are likely to open lower on Wednesday following negative sentiment in the global markets. Asian shares declined after US Federal Reserve policymakers tempered expectations of further rate cuts. Moreover, oil prices rose over 1 percent today after US crude stockpiles fell more than expected. Indian benchmark indices rose nearly 1 percent snapping a two-day losing streak led largely by bluechip stocks. The broader NSE Nifty closed up 0.83 percent at 11,796.45, while the benchmark BSE Sensex ended 0.8 percent higher at 39,434.94. At 7.14 AM, SGX Nifty an early indicator of the Nifty 50's trend in India, traded 26.5 points, or 0.22 percent, lower, pointing to a negative start for the Sensex and the Nifty 50. Stocks to watch: DHFL, Reliance Power, Persistent Systems in focus.

Troubled Dewan Housing Finance's (DHFL) Rs 1,150 crore missed payment on June 4 proved to be the debt market's worst fears coming true. What followed was a rating downgrade and markdowns across mutual funds holding DHFL debt. While the company has now made this payment in the promised time frame, debt investors are still nursing losses. So, what is the way forward in the world of fixed income mutual funds? How much longer will this default storm rage? What should you do if you are in one of the affected funds? This week, we answer some of these important questions putting the spotlight on the state of the fixed income market. In this episode of Money Money Money, we are joined by Kaustubh Belapurkar of Morningstar India and Raghvendra Nath, managing director of Ladderup Wealth Management.

Indian benchmark indices are set for a mixed start on Wednesday ahead of retail inflation and industrial production data due to be released later in the day. According to a Reuters poll, India’s retail inflation rate rose to 3.01 percent in May from a year earlier, up from 2.92 percent in April. Asian shares also trade cautious over concerns of US-China trade relations and ahead of key economic data from China. Indian benchmark indices settled with gains in the previous session led by metal stocks. The Sensex ended 166 points higher at 39,950, while the broader Nifty50 index added 43 points to end at 11,966. At 7.05 AM, an early indicator of the Nifty 50's trend in India, traded 9 points lower, or 0.08 percent down at 11,972, indicating a muted start for the Sensex and the Nifty 50.

Indian benchmark indices are likely to open little changed on Tuesday, tracking muted trades in global markets. Asian shares traded marginally higher as investors turned hopeful of further progress on US-China trade talks after Donald Trump inked trade deal with Mexico. In India, traders await retail inflation and industrial production data due to be released this week for cues about the health of Indian economy.  Indian benchmark indices BSE Sensex and NSE’s Nifty 50 closed marginally higher in the previous session led by IT stocks. The Sensex ended 169 points higher at 39,784, while the broader Nifty50 index added 52 points to end at 11,923. At 7.45 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India,  traded 18 points higher at 11,959.50, indicating a flat start for the Sensex and the Nifty 50. Stocks to watch: DHFL, MindTree, Jet Airways in focus.

Benchmark indices posted their biggest one-day loss in 2019, dragged down by financials and bank stocks even though the monetary policy committee (MPC) of the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points (bps) to 5.75 per cent in the second bi-monthly monetary policy meet of the financial year 2019-20 (FY20). Financials drop post DHFL crisis, liquidity issues, and trimmed GDP growth projections were among the major factors that dragged the markets lower on Thursday.    The benchmark S&P BSE Sensex slipped 554 points, or 1.38 per cent, to 39,530, with IndusInd Bank, Tata Steel, YES Bank, Larsen & Toubro, and State Bank of India were among the top losers. Only eight of the 30 BSE Sensex constituents ended the day in the green. The broader Nifty50 index tumbled 178 points, or 1.48 per cent, to 11,844. All the Nifty sectoral indices ended Thursday's session with losses, led by Nifty PSU Bank, down 4.9 per cent, and followed by Nifty Private Bank, down 2.29 per cent. In the broader market, the S&P BSE MidCap index tumbled 269 points, or 1.77 per cent, to 14,931, while the S&P BSE SmallCap index settled at 14,673, down 238 points, or 1.6 per cent. Buzzing stocks Shares of Dewan Housing Finance Corporation (DHFL) tanked 15.86 per cent to Rs 93.90, hitting an over five-year low on the BSE after rating agencies downgraded its commercial papers (CP), citing delays in debt servicing. The stock was trading at its lowest level since December 23, 2013 on the BSE.  Shares of Eros International Media were hammered by heavy selling during the early morning deals on Thursday after ratings company CARE cut its long-term loan facilities ratings from 'BBB-' to 'D'. The stock was locked in the lower circuit of 20 per cent at Rs 53.10 per share on the BSE, which was also its lifetime low. 

Indian benchmark indices are likely to open lower on Thursday amid muted trades in Asian markets over concerns of escalating US trade disputes with Mexico and China. Investors in India will remain cautious in early trading ahead of the Reserve Bank of India’s monetary policy decision due to be announced at 11:45 AM today. All economists on the CNBC-TV18 panel unanimously voted for a 25 basis points rate cut and four of the five members expect the RBI to keep a 'neutral' stance. On Tuesday, markets took a breather a day after benchmark indices, the BSE Sensex and the NSE Nifty50, scaled fresh record highs. At closing, the BSE Sensex was at 40,083.54, down 184.08 points, or 0.46 percent and Nifty50 at 12,021.65, down 66.90 points, or 0.55 percent. Markets were shut on Wednesday on the occasion of Eid al-Fitr.  At 7.10 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, traded 30.50 points, or 0.25 percent, lower at 12,050.50, indicating a negative start for the Sensex and the Nifty 50.  Stocks to watch: DHFL, Wipro, Tata Motors, Aurobindo Pharma in focus

Indian shares are set to start on a positive note on Wednesday as investors await final results of the 2019 Lok Sabha elections.Broader market sentiment has been positive since exit poll results of the general elections predicted continuation of the Narendra Modi government with the Bharatiya Janata Party expected to win majority seats.Indian benchmark indices BSE Sensex and NSE’s Nifty 50 fell nearly 1 percent in the previous session after hitting record highs intraday as investors booked profits after a rally on Monday.Tech Mahindra, DHFL, IDFC First Bank are among the top stocks to watch out for in today's trade. At 06:55 AM, the SGX Nifty was up 32 points, or 0.27 percent, at 11,758.50, suggesting a positive start for the Sensex and the Nifty 50.

In this episode of Reporters Without Orders, the panel discusses Cobrapost's recent exposé, Kapil Sibal's comments on Harvest TV, the ensuing controversy, CAG Rajiv Mehrishi's alleged tax evasion and more. The panel includes Cherry Agarwal, Desk Writer Gaurav Sarkar, Head of Research Ayush Tiwari, and Special Correspondent Prateek Goyal.Gaurav kicks off the discussion with the Cobrapost investigation that he reported on. Ayush points out a lack of due process. “There were allegations that [Cobrapost] had sent its questionnaire with 64 questions to DHFL on the same morning as the press conference. That raises a lot of counter-questions from the perspective of DHFL.” Gaurav also notes: “What really stood out was that the presser started at 3 pm yesterday at the Press Club. Why hold it once the stock markets are shut?”Giving a background on the Harvest TV controversy, Ayush said, “What you can say of all these media houses, because HTN is not the only one coming out, there will be many more in the coming days. They are all trying to cash in on the 2019 general elections.” Cherry weighs in, “They were trying to get licenses for about year now, if the government was not issuing licenses then that is a problem.”Prateek joins the discussion over the phone. He speaks about his fact-check report on "cyber expert" Syed Shuja. Prateek said, “We checked with ECL, no one knows [Shuja]. What if he is also making up the names? His entire account is fake.”The panel also discusses the ethics of journalism. Cherry poses the question, “When you are reporting on dire issues you see people hanging by a thread, would you intervene?” Ayush, says that he would. He says that being a reporter/journalist is a label that comes later. Gaurav says he would not intervene when “the greater good is actually reporting the story, and knowing that it would probably have an impact.”For all this and more, listen up!#Cobrapost #Media #Kapil Sibal #Harvest TV See acast.com/privacy for privacy and opt-out information.

Indian shares are likely to open lower on Monday amid negative sentiment from Asian markets after poor US jobs data and uncertainty over Brexit weighed on investor sentiment. Moreover, investors are likely to trade cautiously as India prepares for the general elections scheduled to be held in April and May. Stocks in focus: SBI, DLF, DHFL, ICICI Bank. At 07:17 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.20 percent at 11,035.50, indicating a mixed start for the Sensex and the Nifty.

भारत में तक़रीबन 90 बैंक है पर 10000 ग़ैर-बैंकिंग वित्तीय कम्पनियाँ (NBFC) हैं जबकि दोनों संस्थाओं का एक ही रोल है - किफ़ायती क़र्ज़ उपलब्ध करा पाना | कोबरापोस्ट वेबसाइट ने इनमें से एक - DHFL - पर जनवरी में आरोप लगाया था कि इस कम्पनी ने 31 हजार करोड़ रुपए का घोटाला किया है! इसे ‘भारत के इतिहास का सबसे बड़ा बैंकिंग स्कैम’ करार दिया गया था।भारत में ही नहीं, पूरे विश्व में NBFC पर नियंत्रण कैसे हो यह एक ज्वलंत विषय है | तो इस एपिसोड में हमने कोशिश की समझने की यह NBFC बला क्या है? इस विषय पर पुलियाबाज़ी के लिए हमारे साथ है दो विशेषज्ञ - हर्ष वर्धन और नारायण रामचंद्रन | हर्ष एसपी जैन इंस्टिट्यूट ऑफ मैनेजमेंट एंड रिसर्च (SPJIMR) में फेलो है | नारायण एक इन्वेस्टर, लेखक, और तक्षशिला इंस्टीटूशन में सीनियर फेलो हैं | इससे पहले नारायण मॉर्गन स्टैनली इंडिया के प्रमुख और RBL बैंक के ग़ैर-कार्यकारी अध्यक्ष रह चुके है | इस विषय पर पढ़िए हर्ष के विचार ब्लूमबर्गक्विंट पर और नारायण का लेख मिंट अखबार में| इस पुलियाबाज़ी में हमने उनके सामने यह सवाल रखे: ग़ैर-बैंकिंग वित्तीय कंपनी मतलब NBFC क्या होती है? NBFC और मिक्रोफिनांस संस्थाओं में क्या अंतर है? इस तरह की कम्पनियों का भारत में फैलाव कैसा रहा है? क्या यह फैलाव दुसरे देशों के समरूप रहा है या फिर भारत की अर्थव्यवस्था में NBFC का प्रचलन ज़्यादा/कम है? और ऐसा क्यों? IL&FS कर्ज पर ब्याज की किश्त चुकाने में असमर्थ रही है। क्या इस वाक़िये से NBFC पर कुछ फर्क पड़ा है? NBFC पर रेगुलेशन में हम कोताई बरत रहे है | तो क्या ग़लत है और उसे ठीक कैसे किया जाए? Soon after IL&FS scam in October 2018 comes another one in January 2019 - the DHFL scam. Terming this as India’s biggest ever banking scam, investigative website Cobrapost alleged a misuse of an astronomical sum of 31,000 crores. Both these companies are classified as Non-Banking Financial Companies (NBFCs). So in this episode, we return to a core issue in the Indian economy - why are they falling apart and how to regulate such institutions. And why do we even need NBFCs in our economy. Harsh Vardhan (Fellow at the Centre for Financial Services, SPJIMR) and Narayan Ramachandran (Senior Fellow, Takshashila Institution) join us as guests for a puliyabaazi on this issue. सुनिए और बताइये कैसा लगा यह एपिसोड आपको| If you have any comments or questions please write to us at puliyabaazi@gmail.com Follow us on: Twitter: https://twitter.com/puliyabaazi Facebook: https://www.facebook.com/puliyabaazi Instagram: https://www.instagram.com/puliyabaazi/ Subscribe & listen to the podcast on iTunes, Google Podcasts, Castbox, AudioBoom, YouTube or any other podcast app. You can listen to this show and other awesome shows on the new and improved IVM Podcast App on Android: https://ivm.today/android or iOS: https://ivm.today/ios

Indian shares are likely to open higher, maintaining the previous day's momentum. Asian shares traded mixed as investors awaited fresh directional cues from US-China trade negotiations, and as a weaker Wall Street finish also capped broader gains.  Stocks in focus: DHFL, ITC, Sun Pharma, Jet Airways At 07:09 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.18 percent at 11,053, indicating a positive start for the Sensex and the Nifty.

Indian shares are set for a flat start on Friday amid hopes that tensions with Pakistan won't rise further. Asian shares inched higher as concerns about China's economy and global trade capped gains. Stocks in focus: Jet Airways, Bharti Airtel, Yes Bank, DHFL. At 07:20 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.04 percent at 10,874, indicating a flat opening for the Sensex and the Nifty.

In this episode of NL Hafta, host Abhinandan Sekhri is joined by the in-house panel of Manisha Pande, Madhu Trehan and Raman Kirpal, and Scroll staff writer Shoaib Daniyal. The conversation covers Harvest TV, the new 13-point roster for reservation of teaching posts, the National Sample Survey Office jobs report, George Fernandes’s legacy, the latest Cobrapost investigation, and more.Shoaib explains the 13 point roster order given by the Supreme Court. He says reservation on the recruitment of faculty will now be calculated by the department, not by the university as a whole. He says: “Because reservation numbers are 15 per cent, 7.5 per cent—it actually ends reservation in many ways if your department is very small.” Abhinandan adds: “Seven per cent of seven teachers is 0 ... So you round off most of the reservations to 0 while you have kept reservations as a statement of mathematical possibility.” Manisha says there will be protests over this but she doubts how much coverage it will get. Raman draws the discussion to the latest Cobrapost story on the DHFL financial scam. He says: “I don’t see any scam in it! This is just a narrative that the money moved from this place to another. There could be a story ... But what I am saying is that the half baked story with which you broke down 8 per cent of their share market—who gained from it? That itself is a story.” Abhinandan disagrees that it's "half-baked", saying, "There is a law. If you have common directors, one company cannot lend money to the other.” Raman asserts: “In that case, it is a violation, not a scam” —which is what Cobrapost called it.Madhu steps in to discuss Harvest TV. She says, “I did like Barkha’s interview with Jaya. That she really excels at because she has the capacity to do the background research, everything is always at her fingertips. She never interviews with a list of questions, like most of us do.” She adds, "Unfortunately, I think the roach they have taken to launch this channel is problematic”, alluding to Harvest TV running the channel on a religious broadcasting license.The panel goes on to discuss the Padma Shri and other national excellence awards, Rahul Gandhi’s minimum income promise, and a lot more. Listen up! See acast.com/privacy for privacy and opt-out information.

Indian shares are set for a mixed start on Monday, tracking its Asian peers, as investors dared to hope for both progress at Sino-US trade talks in Washington this week and more policy stimulus from major central banks.  Yes Bank, DHFL, Jet Airways, Reliance Power in focus. At 07:12 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.09 percent at 10,764.50, indicating a mixed start for the Sensex and the Nifty.

Here's introducing the Capitalmind Podcast: Of strange things in the financial markets, with Deepak Shenoy and Shray Chandra. Read full transcripts: https://www.capitalmind.in/2019/02/introducing-the-capitalmind-podcast-on-debt-mutual-funds-taking-losses-and-what-you-can-do-about-it/   Today's episode, the very first, is about the concern in debt markets and the hit that debt mutual funds are taking. We'll talk about: What's going on in debt mutual funds and why the four letter word LOSS is staring investors in the face What parallels have we seen in the past for this, in India and globally What are investors supposed to do now, and how they can navigate through this situation Does it get worse before it gets better? The implications for the Zee promoters, IL&FS and DHFL debt. Listen in for more, and do visit https://capitalmind.in for further information. If you'd like to invest with us, check out https://capitalmindwealth.com .  Disclaimer: Capitalmind and customers or employees of Capitalmind may have positions in securities mentioned in the podcast. No information in the podcast should be taken as investment advice, and is for informational purposes only. 

Indian shares are set to open on for a weak start on Thursday, tracking Asian shares, as investors hoped for progress in the latest Sino-US tariff talks while bracing for China trade data that are expected to show further falls in both exports and imports. At 07:10 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.21 percent at 10,780, indicating a weak start for the Sensex and the Nifty.

Indian shares are set to open on a positive note on Wednesday, tracking cues from its Asian peers, on optimism the United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute.  At 07:05 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.23 percent at 10,886.50, indicating a positive start for the Sensex and the Nifty.

Indian shares are likely to open flat on Tuesday, despite the Asian markets being positive on recent US data and the Federal Reserve's dovish stance. At 07:12 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was unchanged at 10,947.50, pointing to a flat start for the Sensex and the Nifty.

The Indian market on Monday is likely to track mixed global cues after the US jobs data. Investors also remain jittery ahead of first RBI policy meeting under the new governor. At 07:30 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was down by 0.13 percent at 10,897, pointing to a tepid start for the Sensex and the Nifty 50.

NL Hafta has gone behind the paywall, but we love our listeners. So here's a little sneak peek into the complete episode.In this episode of NL Hafta, host Abhinandan Sekhri is joined by the in-house panel of Manisha Pande, Madhu Trehan and Raman Kirpal, and Scroll staff writer Shoaib Daniyal. The conversation covers Harvest TV, the new 13-point roster for reservation of teaching posts, the National Sample Survey Office jobs report, George Fernandes’s legacy, the latest Cobrapost investigation, and more.Shoaib explains the 13-point roster order given by the Supreme Court. He says reservation on the recruitment of faculty will now be calculated by the department, not by the university as a whole. Raman draws the discussion to the latest Cobrapost story on the DHFL financial scam. He says: “I don’t see any scam in it! This is just a narrative that the money moved from this place to another. There could be a story..."Listen to the full episode here: https://www.newslaundry.com/2019/02/01/hafta-209-13pointroster-harvest-tv-dhfl-and-more See acast.com/privacy for privacy and opt-out information.

In this episode of Reporters Without Orders, the panel discusses Cobrapost's recent exposé, Kapil Sibal's comments on Harvest TV, the ensuing controversy, CAG Rajiv Mehrishi’s alleged tax evasion and more. The panel includes Cherry Agarwal, Desk Writer Gaurav Sarkar, Head of Research Ayush Tiwari, and Special Correspondent Prateek Goyal. Gaurav kicks off the discussion with the Cobrapost investigation that he reported on. Ayush points out a lack of due process. “There were allegations that [Cobrapost] had sent its questionnaire with 64 questions to DHFL on the same morning as the press conference. That raises a lot of counter-questions from the perspective of DHFL.” Gaurav also notes: “What really stood out was that the presser started at 3 pm yesterday at the Press Club. Why hold it once the stock markets are shut?”Giving a background on the Harvest TV controversy, Ayush said, “What you can say of all these media houses, because HTN is not the only one coming out, there will be many more in the coming days. They are all trying to cash in on the 2019 general elections.” Cherry weighs in, “They were trying to get licenses for about year now, if the government was not issuing licenses then that is a problem.”Prateek joins the discussion over the phone. He speaks about his fact-check report on "cyber expert" Syed Shuja. Prateek said, “We checked with ECL, no one knows [Shuja]. What if he is also making up the names? His entire account is fake.”The panel also discusses the ethics of journalism. Cherry poses the question, “When you are reporting on dire issues you see people hanging by a thread, would you intervene?” Ayush, says that he would. He says that being a reporter/journalist is a label that comes later. Gaurav says he would not intervene when “the greater good is actually reporting the story, and knowing that it would probably have an impact.”For all this and more, listen up! See acast.com/privacy for privacy and opt-out information.

Indian stocks looked set for a mixed start on Wednesday, tracking modest gains in Asian equities, but doubts over US-China trade truce are likely to weigh on investor sentiment.  At 07:21 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was slightly down by 0.02 percent at 10,691.50, indicating a mixed start for the Indian market.

Indian shares are set for a positive start on Tuesday supported by Asian and US markets' gains although sentiment was tempered ahead of the American midterm elections. At 07.08 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.39 percent to 10,601.00, indicating a positive opening for the Indian market today.