Budget Highlights

With an eye on upcoming Lok Sabha elections, Finance Minister Piyush Goyal announced mega sops for middle class, farmers and unorganised workers. Highlighting the key initiatives of the government in the Narendra Modi government’s sixth and final budget before the polls….

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Stock Market Corner

Stock Corner

  • Axis Bank reported 131 percent jump in its Q3FY19 net profit at Rs 1,681 crore, beating market estimates. The company had reported profit of Rs 726.44 crore in a year ago period. Net interest income (NII) was up 18 percent at Rs 5603.6 crore versus Rs 4,732 crore in Q3FY18. Gross NPA was down at 5.75% against 5.94%, while net NPA was down at 2.36% versus 2.54%,
  • Country’s fourth largest HCL Technologies’ third quarter (October-December) profit grew by 2.8 percent sequentially to Rs 2,611 crore, beating analysts’ estimates. Revenue in rupee terms increased 5.6 percent quarter-on-quarter to Rs 15,699 crore in quarter ended December 2018.
  • Housing Development Finance Corporation has reported a 14 percent sequential de growth in third quarter profit at Rs 2,114 crore and the same year-on-year basis fell 63 percent due to low base. Profit growth in September quarter 2018 and December quarter 2017 was driven by the sale of a stake in HDFC AMC and HDFC Life Insurance through IPO.
  • Bajaj Finance’s third quarter (October-December) standalone profit increased sharply by 48 percent year-on-year to Rs 1,022.73 crore despite steep increase in provisions, driven by strong net interest income. Profit during the quarter ended December 2017 stood at Rs 691.76 crore.
  • Mindtree and Coffee Day stock in focus as Income Tax department attached Siddhartha’s and Coffee Day’s shares, amounting to 4.5% of  Mindtree , citing potential claims on an ongoing assessment
  • Syndicate Bank determined the issue price of Rs37.75 per share in respect of preferential issue aggregating to Rs728cr to Promoter-Government of India. The bank says that at the determined issue price it can allot up to 43.2cr shares against a capital infusion of Rs 1,632cr. With these actions, Government of India’s stake in the bank will increase from 76.16% to 81.23%.

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Bank Nifty Outlook View

Bank Nifty Outlook:-

Bank Nifty finally broken its consolidation band of last five trading sessions from 27,350 to 27,600 zones and slipped towards 27,190 levels. It closed 231.50 points lower at 27,250.75 and formed a bearish candle on daily scale as supply pressure is visible at higher levels.

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Outlook of Bank Nifty Today

Bank Nifty Outlook:-

Equity markets have gained momentum in the last hour of trading and are hovering around the day’s high. Bank Nifty down 74 points to trade at 27641. However, the index rose 74 points from intraday lows to 27,008. Maximum losers were seen in HDFC Bank, ICICIBANK , and  AXISBANK, which rose between 2-1% each.

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Nifty Daily Chart

Nifty Outlook:-

Bulls made a roaring comeback on a day that looked like a bearish day. A sharp recovery across sectors, particularly in the broader markets, helped the indices end sharply higher. The Nifty clocked 10,853 again and ended above that mark. The day began on a bearish note, with indices giving up key levels.

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फ्लेयर राइटिंग और नेकॉन पावर पेश करेंगी IPO, सेबी की मंजूरी मिली

पेन निर्माता कंपनी फ्लेयर राइटिंग इंडस्ट्रीज और असम की नेकॉन पावर जल्द आईपीओ पेश करेंगी. दोनों कंपनियों को सेबी ने इसकी इजाजत दे दी है. भारतीय प्रतिभूति और विनियम बोर्ड (सेबी) इस साल कुल 75 कंपनियों को आईपीओ पेश करने की इजाजत दे चुका है. सेबी ने नेकॉन पावर को 29 नवंबर को अपनी ‘ऑब्जर्वेशन’ प्रदान की, जबिक फ्लेयर राइटिंग को 30 नवंबर को सेबी की ‘ऑब्जर्वेशन’ मिली.

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म्यूचुअल फंडों में निवेश और पारदर्शी होगा, सेबी ने उठाए ये कदम

सेबी ने सोमवार को म्यूचुअल फंड्स में निवेश में पारदर्शिता बढ़ाने के लिए कुछ बड़े ऐलान किए. इससे निवेश पर होने वाला खर्च भी शामिल है. माना जा रहा है कि सेबी के इस कदम से स्कीमों की गलत बिक्री पर अंकुश लगेगा. सेबी के आदेशानुसार, अब स्कीम से संबंधित सभी खर्च स्कीम से ही चुकाए जाएंगे. इसका भुगतान एसेट मैनैजमेंट कंपनियों द्वारा नहीं किया जाएगा. इसमें कमीशन भी शामिल हैं. सेबी ने पहले दिए जाने वाले 1 फीसदी कमीशन को भी खत्म कर दिया है.

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