Browse Category: Nifty Market Tips

Top deals on Flipkart’s ‘Own Your Dream Phone’ sales

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If you are looking to buy a new smartphone, you don’t have to wait for festive offers anymore. Major online platforms such as Flipkart and Amazon keep coming with special sales on specific product categories from time to time and smartphone is on the top of their list.

 

After Amazon’s recently concluded sale on smartphones, Flipkart has announced a three-day sale called ‘Own Your Dream Phone’. Starting from today, the sale offers discounts, exchange offers on some of the popular flagship smartphones. There is an additional discount of 5% on all purchases made with Axis bank credit cards. Here are the top deals you can consider right now.

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The Nifty on Thursday could see a subdued opening, tracking slightly weak handover from the Wall Street. The index on Wednesday, which opened at 9,648.10, rose to an intraday high of 9,650.45 which made a small upper shadow on the charts.

 

The 50-share bourse also slipped to an intraday low of 9,608.60 before bouncing back towards its opening level and closed at 9,633.60, down 19.90 points, making a ‘hammer’ like the pattern on the daily candlestick charts.

 

Here’s the list of important headlines related to Indian stock market from across news agencies

 

Wall Street

 

US stocks closed mostly lower on Wednesday as oil prices failed to rebound from a sharp fall during the previous session.

 

The S&P 500 closed marginally lower as energy stocks dropped 1.6 percent to lead decliners. The sector briefly erased losses after bullish supply data from the oil market was released.

 

The Dow Jones industrial average slipped about 55 points, with Caterpillar contributing the most losses. The Nasdaq Composite outperformed, rising 0.7 percent as biotechnology stocks spiked higher.

 

The major US equity indexes closed lower on Tuesday as energy stocks faced pressure from oil’s sharp fall, but the Dow managed to hit a record intraday high.

 

SGX Nifty

 

Trends on the SGX Nifty indicated a flat opening with a positive bias as the Nifty futures on the exchange were trading at 9,674, down up about 12 points.

 

Crude oil off its 10-month low mark

 

Oil prices rose for the first time in three days after US crude and gasoline stockpiles fell, but investors are looking for more signs that output cuts by OPEC and some other producers are ending a three-year glut.

 

The market largely shrugged off comments overnight from Iran’s oil minister that members of the Organization of Petroleum Exporting Countries(OPEC) are considering deeper cuts in production.

 

Brent crude futures were 9 cents, or 0.2 percent higher, at USD 44.91 a barrel at 0018 GMT, after falling 2.6 percent in the previous session to their lowest since August last year.

 

Rupee

 

The Rupee managed to pare its initial steep losses and closed with a marginal fall of 3 paise at 64.52 a Dollar on sustained demand for the American currency from importers and banks.

 

Steady capital outflows amid a caution ahead of the release of RBI’s minutes of its bi-monthly policy meeting largely weighed on forex trade.

 

Subdued local equities too impacted the trading pattern. The Rupee opened sharply lower at 64.63 per Dollar from Tuesday’s closing of 64.49 at the Interbank Foreign Exchange (Forex) market.

 

CDSL IPO issue oversubscribed 170 times

 

The initial public offering of Central Depository Services (CDSL) has received tremendous response from all types of investors, with getting more than Rs 62,929 crore worth of bids against issue size of Rs 369.9 crore (excluding anchor investors’ portion).

 

The Rs 524-crore issue has oversubscribed 170.11 times on the final day, as per data available with the exchange.

 

It has received bids for more than 422 crore equity shares against issue size of 2.48 crore shares.

 

Tata seeking a majority stake in Air India?

 

Tata Group has reportedly shown interest in buying a majority stake in state-run carrier Air India.

 

Natarajan Chandrasekaran, chairman of Tata group’s holding company Tata Sons, was in touch with the top leadership in the government about a deal.

 

An official at the Civil Aviation Ministry declined to comment on Tata’s interest, saying any development on the carrier would be “intimated soon”.

 

Fundraisers

 

Private sector Axis Bank has planned a capital raise of up to Rs 35,000 crore in about a year’s time in line with its growth projection in domestic as well as overseas operations.

 

The country’s third largest private sector lender said it may issue debt securities denominated in Indian Rupees or any other permitted foreign currency including long-term bonds, green bonds, non-convertible Debentures on a private placement basis during the period of one year from the date of passing of the special resolution.

 

In a regulatory filing, the bank said its credit committee, and investment and raising capital committee has authorized the opening of the qualified institutional placement (QIP) of shares on Wednesday. The floor price has been set at Rs 117.04 per share and it can sell shares at a discount of not more than 5 percent, it said in the filing.

 

SEBI plans to ease takeover process under bankruptcy code

 

The Securities and Exchange Board of India (SEBI) today said that it would ease the takeover process for banks under the recently-introduced bankruptcy code from its strict share pricing rules, adding that such transactions will be governed only by RBI regulations.

 

“Share price during stake sale under NCLT will be not bound by SEBI rules,” SEBI chairman Ajay Tyagi said at a press conference after the conclusion of the regulator’s board meeting.

 

The decision was put forth initially by bankers to cut losses, said Rajnish Kumar, MD of SBI. It will be applicable when any debt has to be converted to equity for sale.

 

Banks get an extension to deposit old notes

 

The government has permitted banks and post offices to deposit junked Rs 500 and Rs 1,000 notes with the Reserve Bank by July 20.

 

This is the second window the government has provided to banks, post offices and cooperative banks for depositing the junked notes with RBI.

 

The earlier window was open until December 31, a day after the 50-day period of demonetization of high-value currency.

 

RBI MPC largely wants to watch inflation, one seeks rate cut: Minutes

 

The Reserve Bank of India’s monetary policy committee wants more evidence that inflation has sustainably fallen below its target before deciding whether to lower interest rates, minutes from its last meeting showed on Wednesday.

 

The RBI voted 5-1 to keep the repo rate at 6.25 percent earlier this month but issued a slightly less hawkish statement after consumer inflation eased to 2.99 percent in April, below its 4 percent target.

 

Ravindra H. Dholakia, a professor who is one of three non-RBI members, was the lone dissenter, voting to lower the repo rate by 50 basis points by strongly arguing that inflation had eased enough to justify a rate cut.

 

The vote marked the first non-unanimous decision in the five meetings since the MPC was formed last September.

Daily revision of fuel prices Structurally Positive for OMCs

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The shift to daily revision in prices of petrol and diesel from fortnightly revision starting 16 June is structurally positive for Indian oil marketing companies (OMCs)—Bharat Petroleum Corp. Ltd (BPCL), Hindustan Petroleum Corp. Ltd (HPCL) and Indian Oil Corp. Ltd (IOC). With this, India joins countries such as the US and Australia where fuel prices are revised on a daily basis. Get Free Stock Cash Tips by Ripples Financial Advisory, Indore (9644405056)

This means OMCs will be able to pass on daily changes in product prices and exchange rate fluctuations without delays.

IOC said a daily revision of petrol and diesel prices will set new standards of transparency, encourage the automation drive of petrol pumps and lead to better stock management practices.

 

Uber co-founder Travis Kalanick quits as CEO

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Uber Technologies Inc. co-founder Travis Kalanick stepped down as chief executive of the ride-hailing service, the New York Times reported on Wednesday.

Kalanick’s exit came under pressure from Uber’s investors, who were seeking his exit, the paper reported citing people with knowledge of the situation.

Uber was not immediately available to comment outside regular US working hours.

Petroleum ministry establishes GST facilitation cell for all stakeholders

With a view to facilitating the implementation of GST for the stakeholders concerned with Ministry of Petroleum and Natural Gas and its organizations, a GST facilitation cell has been established, according to an official statement.

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The GST Facilitation Cell has been constituted to serve as the first point of contact for industry to facilitate, guide and provide all support to the stakeholders for a smooth and successful rollout of the new tax regime.

The government is set to roll out GST with effective from mid night of June 30, 2017.

 

 

Prime Minister dedicates Powergrid’s 400 kV Lucknow – Kanpur D/C Transmission Line to nation

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The Prime Minister Narendra Modi on Tuesday dedicated POWERGRID’s 400 Kilo Volt(kV) Lucknow – Kanpur Direct Current (D/C) Transmission Line with associated bays to the Nation.

“Constructed as a part of “Northern Region Strengthening Scheme-XXXII”, this transmission line will provide high-quality transmission infrastructure for ensuring reliable and quality power supply in Uttar Pradesh especially in the areas like Lucknow, Panki, Unnao, and Kanpur,” according to a statement released by the ministry of power.

Tata Steel up over 2% on plans to sell stake in Tata Motors

 

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Shares of Tata Steel advanced over 2 per cent on the Bombay stock Exchange after the company said it plans to sell 8.36 crore equity shares of face value of Rs 2 each of Tata Motors to Tata Sons. Boosted by the development, shares of the company gained as much as 2.07 per cent to hit an intra-day high of Rs 512.50 apiece on the Bombay Stock Exchange.

 

The scrip was currently trading at Rs 510.65 against previous close price of Rs 502.10. In a similar fashion, stocks of company were trading 1.77 per cent higher at Rs 510.85 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 31,207.44, up 151.04 points or 0.49 per cent, at 11:55 hours.

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The Union Minister of State for Development of North Eastern Region (DoNER), Jitendra Singh has said that GST will bring down tax on several goods and contrary to a perception held in certain quarters.

 

“The rollout of GST from 1st of July will bring a huge relief to the poor and lower middle class by resulting in a tax rate lower than the present tax rate,” said Jitendra Singh while addressing a meeting to discuss the various aspects of GST rollout with Delhi-based Resident Commissioners of eight North-Eastern States.

 

The minister said that a wide range of items including milk powder, curd, lassi, buttermilk, cheese, spices, tea, wheat, rice, flower, soybean oil, mustard oil, palmyra jaggery, mineral water, ice, coal, domestic LPG, tooth paste, soap as well as medical items like Insulin, X-ray films and spectacle lenses will actually have a lower tax rate after July 1st, following the GST roll-out as compared to the tax which is being currently imposed on these items.

 

GST to roll out from 1 July, firms get extra time to file returns

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The GST Council on Sunday paved the way for the implementation of the goods and services tax (GST) starting 1 July, but gave companies more time to file detailed returns for the first two months of July and August.

“We don’t have the luxury of time to defer implementation of GST. The council decided categorically that it will be implemented from 1 July,” finance minister Arun Jaitley told.

The official launch of the GST will be on midnight of 30 June at a function likely to be attended by Prime Minister Narendra Modi and state chief ministers in Delhi. The GST Council will meet on 30 June to take up any remaining issues, including that of e-waybills.

The GST Council also cleared anti-profiteering rules that are meant to compel firms to reduce prices of products that benefit from lower GST rates. A standing committee will be set up to screen individual complaints and refer them to the directorate general of safeguards which will investigate the matter. DG-Safeguards will further refer genuine cases to an anti-profiteering authority headed by a retired secretary that will ask the firm to either reimburse the money to consumers or deposit it in a consumer welfare fund, apart from reducing product prices.

Ola, Uber cab supply fell nearly 25% in March quarter

Commodity Tips

Ride-hailing services Ola (ANI Technologies Pvt. Ltd) and Uber Technologies Inc are facing a crunch in supply of cars, with the number of vehicles affiliated to their platforms dropping by almost 25% in the March quarter from the preceding three months.

 

According, to the Ripples Financial Advisory cab supply peaked in the December quarter since January last year to approximately 500,000 vehicles, before plummeting to about 380,000 vehicles in the March quarter, largely because of a fall in incentives for drivers, prompting them to either explore other driving jobs or quit entirely.

 

“This trend was precipitated largely by continuously dropping incentives and driver incomes. Drivers who left the online platforms either shifted into other (offline) driving jobs or changed professions entirely.