MARKET WRAP: Sensex settles 39 pts higher; IT, pharma stocks decline

Sectorally, public sector banks gained the most, with the index closing 1.5 per cent higher. This was followed by Nifty auto index, up 1.15 per cent.

9:01 AM

Market at Pre-open

8:58 AM

Stocks to watch: IDBI Bank, YES Bank, HEG, RIL, Tata Motors, GMR Infra

Here's a look at the top stocks that may trade actively in today's trading session -

 

YES Bank: Private sector lender YES Bank has raised Rs 1,930 crore via issuance of equity shares under the qualified institutional placement (QIP) route, which closed on Wednesday. The lender disclosed five investors bought more than 65.5 per cent of the equity shares in the offered QIP. They include Societe Generale (18.75%), Key Square Master Fund LP (16.18%), BNP Paribas Arbitrage (14.43%), HDFC Trustee Company Limited A/C HDFC Balanced Advantage Fund (10.26%) and Key Square Master Fund II LP (5.88%).

 

HEG: HEG reported a topline (revenue) of Rs 816.5 crore (down 39.4 per cent QoQ, up 48.6 per cent YoY) while EBITDA for the quarter under review stood at Rs 347.8 crore, down 55.9 per cent QoQ, 70.7 per cent YoY. PAT was down 55.3 per cent QoQ, 69.6 per cent YoY. READ MORE

8:57 AM

NEWS ALERT | Hero Moto Corp announces closure of manufacturing facilities from Aug 15-18

-- Hero MotoCorp, however, says that the dates of closure of manufacturing units is part of the holiday calendar

8:55 AM

NEWS ALERT | YES Bank raises Rs 1,930 crore via QIP: CNBC TV18

-- Bank's tier-I ratio increases to 11.3 per cent & CET-I ratio to 8.6 per cent.

-- Allocation to FIIs from QIP at 34 per cent from US/Europe & 40 per cent from Asia; DII allocation from QIP at 26 per cent.

8:53 AM

Tipping point: Are you getting impatient with your small-cap fund?

Over the past year, small-cap funds have given a category average return of -15.9 per cent. Many investors are even thinking of pulling out their money, even if it entails booking a loss. It is not advisable to do so. When you invested, your distributor must have suggested a minimum tenure of five to seven years. Stick to your resolution to be a long-term investor. Even now, their 10-year category average remains 12.8 per cent. Remember that if you are patient, you could again see an year like 2017, when these funds gave a category average return of 50.23 per cent. In future, when a category is doing well, book profits in it. That is not the time to add to your investments in it.

 

8:52 AM

More Blackstone joint ventures to hit real estate investment trust market

The rental arm of Mumbai-based K Raheja Corp, where Blackstone holds 15 per cent stake, has begun work on the Reit and appointed Morgan Stanley the banker, say sources. The Raheja company is expected to file papers for the Reit in the next six months, sources said. It has an office portfolio of a little over 20 mn sq ft. Recently, it emerged the finalist to buy the former headquarters of Citibank in the BKC area of this city. READ MORE

8:48 AM

Asian indices slump on fear of recession; Nikkei plunges nearly 2%

The losses followed a dark day on European bourses and on Wall Street, with all three US benchmarks tumbling around 3 per cent and US bond yields plunging, as investors deserted stocks for safer treasury assets. Weeks of pro-democracy protests in Hong Kong have added to the climate of uncertainty.  READ MORE

8:46 AM

Yield inversion is coming to Asian markets as growth woes spread

The inverted yield curve looks set to be a global phenomenon, with major Asian debt markets primed to mirror the moves in Treasuries as fears grow that the world economy is teetering on the brink of a recession.

 

Yields in Singapore, Australia and Japan are tracking the slide in their US and UK peers as investors take stock of the damage wrought by the Sino-American trade war. A poor German GDP print and disappointing China factory output data on Wednesday underscored the weakness that’s engulfing the global economy. READ MORE

8:45 AM

Market Ahead, August 16: All you need to know before the Opening Bell

Global cues, corporate earnings, and report of a possible stimulus package by the government to counter the economic slowdown are likely to dominate Dalal Street proceedings on Friday. As per reports, the government might soon provide a broad stimulus package or a sector-specific booster dose. This comes after Prime Minister Narendra Modi's meet with Finance Minister Nirmala Sitharaman and officials of her ministry on Thursday. There might also be some relief to foreign portfolio investors from the super-rich surcharge. LISTEN TO PRE-MARKET PODCAST HERE

8:43 AM

Listing of Edelweiss' advisory business within 2 years, says Nitin Jain

The NBFC sector is undergoing huge turbulence and policy makers will have to take further steps to tackle the problem, says Nitin Jain, CEO of Global Wealth & Asset Management at Edelweiss Financial Services. In an interview to Samie Modak, Jain spells out plans for the company. READ MORE

Nitin Jain, CEO of Global Wealth & Asset Management at Edelweiss Financial Services

8:42 AM

'Longer it goes on, the stronger we get': Trump takes on China on trade war

Asserting that the United States is "having a very good discussion" on a trade deal with China, Trump told reporters at the Morristown airport in New Jersey that he will speak with Chinese President Xi Jinping "very soon".

 

On the protests in Hong Kong which have been going on since early June, the US president said that Xi can "humanely" solve the problem so that "everybody is happy". READ MORE

8:38 AM

From auto to banking, grumble of slowdown is getting louder for India Inc

The grumble of economic slowdown is getting louder for corporate India. The combined net profit of India’s top 1,470 listed companies ex-financials and energy contracted for the third consecutive quarter year-on-year (yoy) basis during April-June 2019 quarter while net sales growth hit a three-year low. READ MORE

8:36 AM

NBFCs will be in goodwill hunting mode for some time to come: Experts

Is the worst over for non-banking financial companies (NBFCs)? Keki Mistry, vice-chairman and chief executive officer (CEO) of the Housing Development Finance Corporation (HDFC) feels “though the liquidity situation has eased considerably as compared to what it was in September 2018, the reluctance to lend to NBFCs is still there”. READ MORE

8:34 AM

Reliance Industries may buy more cable companies to aid JioFiber plans

Reliance Industries (RIL), which will commercially roll out its fibre-to-the-home broadband network under JioFiber next month, may consider buying more cable companies to support its plans, people in the know have told Business Standard. The option of partnership with cable companies is also on the table, they said, as RIL looks to disrupt the broadband market like it did in telecom three years ago. READ MORE

8:32 AM

Key deals last week: International Finance-Srinivasa Farms, and more

1. Includes Sigefi Private Equity 

 

2. Includes Shunwei Capital Partners, SAIF Partners, Venture Highway LLP, Sequoia Capital India Advisors, RPS Investment Fund, Facebook, Arun Sarin 

 

3. Includes Bertelsmann Corporate Services India, Sequoia Capital India V 

 

4. Includes Bertelsmann Corporate Services India, Fullerton Financial Holdings 

 

There were 16 PE deals worth $382.19 million with no exit in the last seven days ended August 14, 2019