This project is funded by the Department of Telecom (DOT), Government of India and BSNL has been appointed as the nodal agency by the DoT for project execution

Shares of Himachal Futuristic Communication (HFCL) surged 8.5 percent intraday on August 20 after the company received purchase order worth Rs 2,467 crore.

The company has received a purchase order worth Rs 2,467 crore from Bharat Sanchar Nigam for setting up the converged nationwide IP /MPLS backbone & access network for armed forces under the network for spectrum (NFS) programme of the government.

The scope of work also includes operation and maintenance for a period of 10 years including 3 year warranty period for which Rs 862 crore will be paid by the Indian Defence Services after the warranty period is over.

This project is funded by the Department of Telecom (DOT) and the Government of India. BSNL has been appointed as the nodal agency by the DoT for project execution.

Himachal Futuristic Communication was quoting at Rs 19.85, up Re 1, or 5.31 percent on the BSE.

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Shares of Info Edge (India) Ltd have slipped nearly 11% after scaling a 52-week high of about 2,444 on June 3. Continuing losses in investee companies have been worrying investors lately. Post its first-quarter results, some analysts have even downgraded the stock

In the first quarter ending June, Info Edge’s standalone revenue growth remained healthy at 20.5% YoY, much in line with analysts estimates. In fact, the recruitment business continues to grow at a healthy clip. Revenues here were up 19.2% YoY in Naukri. 99acres grew at a faster clip at about 34.6% YoY, while other segments contributed about 10% revenue growth.

Real estate growth, though, has been sluggish, and growth numbers seem high due to 99acres’ tiny base. Its strong foothold in the online listing space with about 50% market share though, should provide room for growth.

Its flagship portal, Naukri though has seen a decent growth, driven by IT and IT services. Naukri adds about 19,000 resumes on a daily basis. Its recent acquisition IIMJOBS.com has seen a 22% growth in revenues in the first quarter to 57 crores and is close to break-even, according to the management.

On a consolidated basis, though, Info Edge’s growth numbers have been a drag. Some of Info Edge’s investments such as Zomato and PolicyBazaar have been loss-making. These businesses are currently in a growth phase with Zomato starting to control costs and reducing losses. On a consolidated basis, though revenues grew at 15.4% YoY, which is reasonable. InfoEdge, though, reported a loss of 190 crores in the first quarter against 22 crores in the year-ago quarter.

Much of Info Edge’s business is in a growth phase. However, the stock has climbed about 47% in the past year with valuations touching sky-high levels. “INFOE’s market leadership positions in recruitment and real estate segments, as well as investments in Zomato and PolicyBazaar make it well-positioned in the classifieds space. Current valuations, however, more than capture these positives," said analysts Kotak Securities Ltd institutional business.

“We downgrade the rating to SELL with a revised fair value of Rs1,910 as we roll forward to June 2021E," noted Kotak Institutional Equities.

That’s about 14% lower than current levels, though much of its future depends on the valuations that Zomato and other investee companies command during the next round of fundraising.

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HCL will acquire 90 acres of land to add to the existing state-of-the-art 50-acre campus in MIHAN, Nagpur

Shares of HCL Technologies gained more than 1 percent intraday on August 19 after the company signed MoU with Maharashtra Airport Development Company.

As per BSE release, HCL Technologies signed a Memorandum of Understanding for expansion of its MIHAN campus in Nagpur, in-line with HCL’s plan for Tier-II cities in the country.

As part of the MoU, HCL will acquire 90 acres of land to add to the existing state-of-the-art 50-acre campus in MIHAN, Nagpur.

HCL also announced the launch of Tech Bee – HCL’s Early Career Program – a work-integrated career program for students who have completed Class XII. After completion of the program, the students will be deployed at HCL Technologies.

Sanjay Gupta, Corporate Vice President, HCL Technologies said, “At HCL, we identify the strongest capabilities in our workforce to ensure the best result for our clients. The expansion of the HCL campus in MIHAN is aligned with our strategic vision to expand and create opportunities in the emerging cities.”

HCL Technologies was quoting at Rs 1,075.00, up to Rs 13.35, or 1.26 percent on the BSE

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The rupee on August 5 crashed by 113 paise - the biggest single-day drop in the past six years - to close at a five-month low of 70.73

The Indian rupee is trading higher by 8 paise at 70.65 per dollar versus previous close 70.73.

It opened lower by 7 paise at 70.80 per dollar.

The rupee on August 5 crashed by 113 paise - the biggest single-day drop in the past six years - to close at a five-month low of 70.73 due to heavy capital outflows by investors anxious over the US-China trade tension, a sharp devaluation in yuan and uncertainty over Kashmir issue. This was the third straight session of fall for the rupee, during which it lost a massive 194 paise.

Rahul Gupta, Currency Research Head, Emkay Global Financial Services said, "The global trade turmoil between US-China and political imbalance in Kashmir led USD/INR spot open at the 11-week high. Over the day, USD/INR violated the major resistance of 70.20 from its 200 SMA."

The dollar-rupee August contract on the NSE was at 70.85 in the previous session. Open interest increased 35.88% in the previous session, said ICICIdirect."If the pair closes above 70.20 then the view will continue to be bullish and we can see 71.30 before the month-end. While on the downside 69.85 will continue to act as strong support. Meanwhile, this week is the RBI policy. Widely, RBI is expected to cut rates further by 25bps and continue to hold the accommodative stance which will weigh on rupee," he added. We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.

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Revenue jumped 15.7 percent to Rs 1,716.5 crore versus Rs 1,483 crore

Shares of Berger Paints India touched a 52-week high of Rs 350, rising 5 percent intraday August 6 after the company reported robust numbers in the quarter ended June 2019.

The company's Q1FY20 net profit rose 32 percent at Rs 176.8 crore versus Rs 133.9 crore in the same quarter last fiscal.

Revenue jumped 15.7 percent to Rs 1,716.5 crore versus Rs 1,483 crore.

Earnings before, interest, tax, depreciation and amortization (EBITDA) was up 27.5 percent at Rs 305.1 crore against Rs 239.3 crore and the margin was up 170 bps at 17.8 percent against 16.1 percent.

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All the sectoral indices are trading in the red led by the metal, pharma, bank, IT, infra, auto, FMCG and energy

Shares of Escorts touched a 52-week low of 452.70, falling nearly 4 percent in the early trade on August 1 on the back of poor sales in the month of July 2019.

Escorts' Agri Machinery Segment (EAM) in July 2019 sold 4,860 tractors against 5,610 tractors sold in July 2018.

Domestic tractor sales in July 2019 at 4,505 tractors against 5,483 tractors in July 2018.

Export for the month of July 2019 at 355 tractors registering a growth of 179.5 percent as against 127 tractors sold in July 2018

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HSBC maintained buy call on the stock with a target price at Rs 205, implying 64 percent potential upside from current levels.

Aster DM Healthcare shares rallied 4 percent intraday on July 3 after global investment firm HSBC said the stock trades at a steep discount to global emerging markets' (GEM) peers.

"Company trades at over 40 percent discount to GEM peers despite a strong profile. We maintained buy call on the stock with a target price at Rs 205, implying 64 percent potential upside from current levels," the brokerage said.

Its presence across segments supported revenue and margin gains in the Middle East, and growing presence in large cities should support margin in India, HSBC added.

The brokerage said both Middle East & Indian Operations are moving ahead as planned.

The stock was quoting at Rs 128.10, up to Rs 3.10, or 2.48 percent on the BSE at 1027 hours IST.

Aster DM Healthcare covers the full spectrum of healthcare services. An expansive portfolio includes hospitals, clinic, diagnostic centre and retail pharmacies.

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Mirabegron is indicated for the treatment of Overactive Bladder (GAB) with symptoms of urge urinary incontinence, urgency, and urinary frequency.

The share price of Lupin rose more than 3 percent in the early trade on June 28 after the company received tentative approval for its Mirabegron Extended Release (ER) Tablets.

The company has received tentative approval for its Mirabegron Extended Release (ER) Tablets, 25 mg and 50 mg, from the United States Food and Drug Administration (FDA), to market a generic version of Myrbetriq Extended Release Tablets, 25 mg and 50 mg, of Astellas Pharma Global Development Inc, company said in press release.

Mirabegron is indicated for the treatment of Overactive Bladder (GAB) with symptoms of urge urinary incontinence, urgency, and urinary frequency.

Mirabegron ER Tablets 25 mg and 50 mg had annual sales of approximately USD 1501.6 mn in the US, it added.

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The private sector lender finally recognised its exposure to troubled Infrastructure Leasing & Financial Services as non-performing in Q4FY19

IndusInd Bank shares gained 0.7 percent intraday on June 12 after global brokerage firm Deutsche Bank retained buy call on the stock. It said it sees 20 percent potential upside given attractive valuations.

The stock corrected last week due to its exposure to DHFL, which had defaulted on debt repayment, but overall in last one month, it gained 14 percent partly due to its quarterly earnings. At 0942 hours IST, it was quoting at Rs 1,596.10, up Rs 8.85, or 0.56 percent on the BSE.

"A lot more synergies will now accrue on liquidity after Bharat Financial merger. We see big option value of utilising Bharat Financial distribution for earning fees and deposits," said the brokerage which has buy call with a target price at Rs 1,900 apiece.

Deutsche expects the Bank to deliver a 2 percent return on assets and 20 percent return on equity in FY21. "IL&FS issue is recognised and other credit-risk should gradually reduce," it said.

The private sector lender finally recognised its exposure to troubled Infrastructure Leasing & Financial Services (IL&FS) as non-performing in Q4FY19, resulting in a spike in provisions and a significant drop in profitability.

However, the good news is that the exposure to other troubled groups is insignificant and the operating parameters of the bank remain sound. With the imminent integration of the high yielding business of Bharat Financial, the earnings outlook is strong and valuation at 2.5 times FY21 estimated book leaves room for a re-rating, Moneycontrol Research said about the company after March quarterly earnings.

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"The round was led by General Atlantic and included participation from existing investors SAIF Partners and BEENEXT," the company said in a statement.                                                                                                                                                  

Realty portal NoBroker.com has raised USD 51 million from investors, including General Atlantic, for business expansion. This is the Series C Funding.

NoBroker has raised USD 71 million so far.

"The round was led by General Atlantic and included participation from existing investors SAIF Partners and BEENEXT," the company said in a statement.

NoBroker.com is a tech-based, brokerage-free real estate platform that makes real estate transactions seamless and efficient.

It also provides other services starting from house search to packers and movers, home loans, cleaning services etc.

More than 25 lakh properties are already registered on NoBroker and over 60 lakh individuals have used the portal's services.

"We plan to use this capital to further innovate and strengthen our ML/AI to make the transactions seamless and quicker," Akhil Gupta, CTO and co-founder of NoBroker.com, said.

NoBroker currently operates an end-to-end transaction model in five cities -- Mumbai, Bengaluru, Pune, Chennai and Gurgaon.

"This current funding round will support us in our plans to expand our operations. We will also invest in our home store and financial services products," Amit Kumar, CEO and co-founder of NoBroker.com, said.

Saurabh Garg, CBO and co-founder of the portal, said, "This funding comes at a time when we are already seeing huge traction.

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Automobile major Maruti Suzuki on Monday commenced bookings for the new variant of its "all-new" premium crossover S-Cross which is expected to be launched during the festive season.

According to the company, the premium crossover boasts of a DDiS 200 with "Smart Hybrid" technology engine. 

Launched in August 2015, the S-Cross has sold over 53,000 units in the domestic market while over 4,600 units have been exported.

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brand new week of Bull's Eye. It's the popular game show where market experts come together to dish out trading strategies for you to make your week more exciting and compete with each other to see whose portfolio is the strongest.

Remember these are midcap ideas not just for the day, but stocks that look attractive in the medium-term as well.

This week, Vishal Malkan, Pankaj Jain, and Ruchit Jain battle it out for top honors.

Buy Bata India with a stop loss at Rs 728 and target of Rs 795

Buy Jain Irrigation with a stop loss at Rs 110 and target of Rs 120

Buy Apollo Tyres with a stop loss at Rs 249 and target of Rs 275

Buy Hexaware Technologies with a stop loss at Rs 319 and target of Rs 355

SGX Nifty indicating a negative opening for the Indian markets as crude oil price continues to soar. Rating agency S&P maintained a status quo on its outlook on Indian economy and reaffirmed a BBB- rating for India.

Global markets

Asian markets are trading on a negative note with across the board selling pressure seen in all the major markets with Kospi losing 1.3%, Shanghai losing 0.9%, Nikkei losing 0.35%.

US Markets ended with a positive bias after the Thanksgiving holiday. Rally in technology stocks took S&P & Nasdaq to a record closing. S&P gained 0.21% to 2602.42, the Dow Jones added 0.14% to end at 23557.9 while the Nasdaq closed at 6889.16, gaining 0.32%.

European markets ended on a flat to positive note with FTSE losing 0.1%, CAC gaining 0.2% and DAX gaining 0.39%.

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Ashok Leyland stake in Optare Plc increases to 98.31% from 75.11% post-conversion of the loan into equity.

Hindustan Unilever to lower prices of some products on GST cut.

Sun Pharmaceutical to recall Riomet drug due to microbial contamination.

Adani stocks in focus as Labor party closes in on the majority in Queensland, as per media reports.

MMTC seeks bids from suppliers to import 2,000-ton onions.

Autoline Industries says the unit of the co received environmental clearance for its township project in Pune.

Great Eastern Shipping says GDR delisted from Euro MTF Market of Luxembourg stock exchange.

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Last Week, Realty sector was on top. Purvankara, Nila Infrastructure, Kolte Patil and Ajmera Realty were among best-performing stocks in the sector. Infra stocks also performed well last week. Ashoka Buildcon, J Kumar Infra, JMC Project were among the top stocks.

Credit rating agency Standard and Poor’s (S&P) on Friday kept its India rating unchanged at BBB-, with a stable outlook.

On Friday, Nifty opened at 10367 and closed at 10390 after making a low of 10362. Smallcap Index opened at 8650 and closed at 8644 after making a low of 8634.

Nifty Future is opening gap-down by 33 points against yesterday close of 10417 as indicated by SGX Nifty which is currently trading at 10384.

Last Week Sector Performance

Top performing Smallcap stocks from performing sectors of Last Week

India consumes 48% of the world’s whiskey. It is the fastest-growing market and the largest producer of the spirit. But what exactly are we making and drinking?

When the Kenyan chef-restaurateur Kiran Jethwa visited India earlier this year to shoot Spirited Traveller, a show aired on Fox Life that discovers a country through its favourite beverages, he made Fried Whisky Ice Cream—chocolate ice cream flavoured with whisky, oranges, and pistachio, dipped in jalebi batter, deep-fried and served with sugar syrup—for the Delhi episode. “I was told that people in Delhi love whiskey and fried food,” Jethwa said. “So here’s my tribute to that spirit.”

Whisky is decidedly the spirit of choice in India—we consume almost half the whiskey produced worldwide. From the cheapest Indian-made foreign liquor (IMFL) variant—whisky makes for almost 90% of IMFL—to limited-edition single-malt Scotch, people are drinking more whisky today than ever, spending anywhere between Rs50 per 25ml peg for a McDowell’s at a Paharganj bar in Delhi to Rs1,500 for a small Johnnie Walker Blue Label at a five-star hotel. While gin is going through something of a resurgence, it is still whiskey that racks up the numbers, with a more-than-healthy lead over every other alcoholic beverage.

“Though the entire alcobev (alcoholic beverage) industry has grown steadily over the last decade, whiskey is the flag-bearer in India,” says Thrivikram G. Nikam, executive director at Bengaluru-based Amrut Distilleries Pvt. Ltd. Part of the growth is because whiskey has gone through an image makeover. It is not considered an old man’s drink anymore. Just like James Bond single-handedly legitimized the vodka martini and Carrie Bradshaw made Cosmopolitan the drink of choice for young women, Don Draper has made the Old Fashioned sexy again in the 21st century.

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India's largest stock exchange National Stock Exchange of India Limited's (NSE) SME platform, NSE EMERGE, witnessed its 100th SME IPO listing on Monday. ANI Integrated Services Limited debuted on the NSE EMERGE platform. "NSE has been focused on developing an ecosystem for the financial markets where the Indian corporations can chart their growth stories," the stock exchange said in a statement.

Till date, 100 SME companies are listed on the EMERGE platform and the companies have raised more than Rs. 1,400 crore of capital using the equity fundraising mechanism. These companies are from various sectors like consumer goods, textiles, pharma, fertilizers, services and information technology.

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SGX Nifty indicating a positive opening for the Indian markets.

Global markets

Asian markets are zooming higher backed by strong global cues.

Hong Kong’s Hang Seng index breaks the important level of 30,000 in its opening while all the other indices are trading near day’s high with the Nikkei up 0.77%, Shanghai Composite up 0.7%.

US: Markets witnessed a stellar rally in yesterday’s trade with all the major indices ending the day on a positive note.

The Dow climbed up 160 points to 23,590 levels, the Nasdaq edged up 72 points or 1.05% to 6,862.48.

Europe also managed to close in the green yesterday with FTSE up 0.30%, CAC up 0.48%, DAX up 0.83%.

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T Rowe Price acquires 5% in TeamLease for Rs 160 crore.

Ford Motor and Mahindra & Mahindra could create their own electric car line in the country to help battle pollution from the vehicles clogging India’s roads, chairman Anand Mahindra said.

Telecom stocks in focus, as The Telecom Regulator has proposed relaxing spectrum holding limits, a move that would encourage mergers and acquisitions as well as spectrum trading in a market where small carriers are trying to sell assets, including the airwaves, to repay debt.

Dabur cuts prices of shampoos, home care products by 9% for existing stock.

ONGC to acquire 15% stake in the Namibia offshore block.

Adoni and said it seeks government loan for Carmichael coal mine in Australia, as per media reports.

Software vendor Infosys would configure the editing facility in the GST Network by November 20 to enable traders to file their three-page summary return (3B), said the GST Group of Ministers (GoM) Chairman Sushil Kumar Modi on Saturday.

"Over 2 lakh taxpayers were unable to file their summary returns (3B) in August and September due to the non-provision of the editing facility in the GST Network. By November 20, the editing facility will be operationalized by the GST Network," Modi told reporters after the GoM met for the fourth time here.

The GST Network (GSTN) is the backbone of the Goods and Service Tax (GST) on which the new indirect tax regime is operated in real-time, as all its functions are automated, he said.

The city-based IT major bagged the Rs. The 1,300-crore contract in 2015 to design, develop, maintain and operate the GSTN for three years across the country.

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