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Dec 7, 2018 3:32 PM

Closing Bell: Sensex, Nifty extend gains led by Kotak Bank, HDFC Bank, Infosys##Closing Bell: Sensex, Nifty extend gains led by Kotak Bank, HDFC Bank, Infosys, ITC

The market closed positive on Friday with the BSE Sensex gaining 400 points to close at 35,713 points and the NSE Nifty reclaiming the 10,700-mark to close at 10,701 points.Kotak Bank, HDFC Bank, Infosys, ITC were among the top gainers in trade today.

Dec 7, 2018 3:32 PM

Just in: The government appointed K. Subramanian as the chief economic adviser for 3 years.

Dec 7, 2018 3:17 PM

SEBI in talks with industry on mutual funds norms##SEBI in talks with industry on mutual funds norms

India’s market regulator is in talks with industry to deal with fears of contagion effect on mutual funds due to a liquidity crisis faced by the country’s non-banking finance companies (NBFC), its chief said on Friday.

The crunch hit India’s shadow banks in September and October after Infrastructure Leasing and Financial Services (IL&FS) defaulted on a series of debt obligations spreading panic among other NBFCs.

Securities and Exchange Board of India (SEBI) has been scanning India’s mutual funds’ investments in the shadow banking sector since then.

“We are examining, in consultation with the industry, and will gradually take appropriate action,” Ajay Tyagi, chairman of SEBI said in response to a question if changes are needed in mutual fund regulations.

(From Reuters)

Dec 7, 2018 3:13 PM

Here's how some of the stocks are trading towards the close.##Here's how some of the stocks are trading towards the close.

Muthoot Fin, Manappuram Fin up as loan outlook strong

Shares of Muthoot Finance and Manappuram Finance surged with shares up 13% at 475.50 rupees while those of Manappuram Finance were up 6% at 84.40 rupees.

Dilip Buildcon up 4% on 10-bln-rupee contract win

Shares of Dilip Buildcon rose over 4% today after the company said it has received an order worth 10 bln rupees from Coal India's subsidiary Mahanadi Coalfield. The contract, which is to be completed in five years, is for the removal of overburden for a mining project in Odisha. At 1410 IST, shares of the company were up 3.4% at 446.95 rupees.

TCS above 50-day moving avg, charts show further gains

Shares of Tata Consultancy Services traded above their 50-day simple moving average, and technical charts show that the stock could gain further.

TCS' daily moving average is at 1,963.18 rupees, and at 1355 IST, its shares were up 0.3% at 1,999.00 rupees.

Dec 7, 2018 3:04 PM

WATCH| L&T Finance Holdings has seen a sudden spike in bad loans in the East.

Dec 7, 2018 2:53 PM

India on the cusp of economic and earnings recovery; 2019 a good year for equities: Alchemy Capital##India on the cusp of economic and earnings recovery; 2019 a good year for equities: Alchemy Capital

India is on the path of economic and earnings recovery, said Hiren Ved, director and CIO, Alchemy Capital Management, adding that 2019 is likely to be a good year for equities.

“We are at a cusp of economic recovery, earnings recovery and the idea would be to play for that,” said Ved.

Comparing 2018 to 2013, he said the set up was quite similar in terms of oil prices going up, currency going down, elections in six month, etc., however, the difference was that valuations in 2013 were low but are now high. "The economy in 2018 is much stronger than it was in 2013 and we are no longer part of the fragile 5," he said.

Get the details here

Dec 7, 2018 2:39 PM

China's Iran oil imports to rebound in Dec as buyers use US waivers##China's Iran oil imports to rebound in Dec as buyers use US waivers

China's Iranian oil imports are set to rebound in December after two state-owned refiners in the world's largest oil importer began using the nation's waiver from US sanctions on Iran, according to industry sources and data on Refinitiv Eikon.

Sinopec resumed Iran oil imports shortly after Tehran's biggest crude buyer received its waiver in November, while China National Petroleum Corp (CNPC) will restart lifting from its own Iranian production in December, three sources with knowledge of the matter told Reuters.

Reuters reported in November that China's waiver on U.S. sanctions allows it to buy 360,000 barrels per day (bpd) of oil for 180 days.

Top Chinese energy group CNPC, which has invested billions of dollars in Iranian oilfields, is ready to load its full share of production from December, said an oil executive with direct knowledge of CNPC's Iran activities.

The executive, who asked not to be named, estimated CNPC will load at least two million barrels a month from December, doubling previous levels to help compensate for cuts made before sanctions on Iran's oil exports went into effect on Nov 5.

Before the waivers had been announced, Sinopec, Asia's largest oil refiner, had planned to stop loading Iran oil in November, but resumed imports within days of getting the exemption, a second source said, also asking to remain unnamed.

(From Reuters)

Dec 7, 2018 2:24 PM

Watch| AMFI India says November ETF flows at Rs 1,634 crore. Here are the details.

Dec 7, 2018 2:12 PM

Sagar Cements up as November consolidated sales rise 36.3 percent on year##Sagar Cements up as November consolidated sales rise 36.3 percent on year

Shares of Sagar Cements rose 4 percent as the company's consolidated cement sales rose 36.3 percent on year to 315,106 tn in November. Cement production in November was up nearly 44 percent on year at 317,796 tn. The stock had gained nearly 4 percent, after the company said it would invest Rs 2.58 billion in two projects. Shares of the company were up 2.5 percent at Rs 681.30 at 1.30pm. Meanwhile, the Sensex traded 180 points up, or 0.52 percent, at 35,496, while the Nifty inched up 35 points, or 0.33 percent, to 10,636.

Dec 7, 2018 2:01 PM

Why retail investors are rushing into stocks that have lost the most##Why retail investors are rushing into stocks that have lost the most

There is a sudden rush among the retail investors in India to buy stocks, which have witnessed a strong downside correction in last one year. So, why are the retail investors catching the falling knives?

Read here for more

Dec 7, 2018 11:43 AM

Kotak Mahindra Bank surges in trade, jumps 11.6%##Kotak Mahindra Bank surges in trade, jumps 11.6%

Dec 7, 2018 11:36 AM

Warren Buffett's Berkshire Hathaway looking to buy 10% stake in Kotak Mahindra Bank##Warren Buffett's Berkshire Hathaway looking to buy 10% stake in Kotak Mahindra Bank

Warren Buffett’s Berkshire Hathaway is in talks for a 10 percent stake buy in Kotak Mahindra Bank valued at between $4 billion and $6 billion. Sources told CNBC-TV18, Berkshire Hathaway is looking to buy promoter stake or via a preferential allotment. Read more

Dec 7, 2018 11:34 AM

Most pharma companies up on likely upward revision in ratings##Most pharma companies up on likely upward revision in ratings

Shares of most pharmaceutical shares rose 1-3% today as a few stocks, including Dr Reddy's Laboratories, are likely to see an upward revision in ratings, dealers said. There is some reshuffling of investments in the pharmaceutical sector, and with talk of lapse in corporate governance at Sun Pharmaceutical Industries, investors are looking for safer bets, a bank brokerage dealer said. At 10.53 am, the Nifty Pharma index was up 0.3%, aided by shares of Cipla that were up 1.2% at Rs 521.05. Shares of Dr Reddy's Laboratories were up 1.6%, while those of Glenmark Pharmaceuticals were up 2.7%. The Nifty Pharma index was down over 15% from end August, mainly contributed by a sharp fall of over 35% in shares of Sun Pharmaceutical. (Cogencis)

Dec 7, 2018 11:04 AM

PSU oil refiners rise on a fall in crude oil prices##PSU oil refiners rise on a fall in crude oil prices

Shares of state-owned oil refining companies rose on Friday, tracking an overnight fall in the crude oil prices. Prices of crude oil fell as the Organization of the Petroleum Exporting Countries delayed making a decision on output cuts until after it meets with Russia today. Today, Brent crude oil futures on ICE fell below $60 per barrel. Shares of Indian Oil Corp, Hindustan Petroleum Corp, and Bharat Petroleum Corp rose 0.5-0.8 percent.

Dec 7, 2018 10:19 AM

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