Today Live Indian Stock Market News ; Sensex, Nifty to open on a flat note

The Indian stock market may be a bit under pressure Wednesday on global cues and IMF outlook. For the first time in two years, International Monetary Fund (IMF) has cut India's growth forecast and also slashed growth outlook for almost every geography thanks to Brexit. Get Live Stock Market News Updates Visit Us www.marketmagnify.com/freetrial.php or Get Free Trials Just Give One Missed Call @78-79-88-11-22.

The IMF has cut India's growth projections to 7.4 percent for 2016 and 2017, a drop of 0.1 percent from its previous forecast, attributing it to a more sluggish investment recovery while declaring Brexit as a "spanner" in the global economic recovery. Yesterday, the 30-share BSE Sensex was up 40.96 points at 27787.62 after a swing of 189 points intraday while the 50-share NSE Nifty rose 19.85 points to 8528.55.

The indices are set to open on a flat note. Asian markets are trading mixed. Japan's Nikkei slipped 0.73%, Hong Kong's Hang Seng gained 0.73% and Shanghai Composite is trading in red. US markets closed mixed on weak quarterly results from Netflix Inc. S&P 500 at 2,163 points closed down 0.14%.
 

Among other stocks in focus:

Wipro: The company disappointed as consolidated Profit after tax (PAT) of the company stood at Rs. 2052 crore in Q1 FY17 as compared with Rs.2238 crore in Q4 FY16.

DLF: DLF Home Developers Limited entered into joint venture agreements with Ridgewood Holdings Limited for development of seven residential projects in the cities of Bangalore, Chennai, Kochi and Indore.

Coal India: The company has sought shareholders' approval for the buyback of 10.98 crore shares worth Rs.3,650 crore.
 

CRISIL Ltd: The company posted a net profit of Rs.698.10 mn for the quarter ended June 30, 2016 as compared to Rs.649.20 million for the quarter ended June 30, 2015.

Top Stocks in focus on Tuesday, 19 July 2016

The Indian market is expected to open higher on Monday tracking positive trend seen in other Asian markets. The market is likely to be rangebound on Tuesday as earnings disappointment is slowly weighing on. Get Live Today Stock Market News Updates Visit Us www.marketmagnify.com/freetrial.php or Get Free Trials Just Give One Missed Call @78-79-88-11-22.

The Nifty is likely to trade in a 250-point range between 8400-8650 today. With sharp focus on Q1 earnings, the uptrend is seen to be intact with foreign institutional investors (FII) flows strong.

Here is a list of top stocks that are likely to be in focus today:

HUL: Hindustan Unilever BSE -2.04 % (HUL) reported a 9.7 per cent year-on-year (YoY) growth in net profit at Rs 1,174 crore for the quarter ended June 30, which was largely in line with consensus estimates.

Wipro: Wipro Ltd is expected to report 3.6 per cent year-on-year fall and 5.7 per cent quarter-on-quarter net profit to Rs 2187.80 crores for the quarter ended June 30.

Jaiprakash Power Ventures Ltd: The company reported a standalone net loss of Rs 196.16 crore for the quarter ended June 30, 2016. The company had reported a net profit of Rs 66.96 crore in the year-ago period, Jaiprakash Power VenturesBSE 2.88 % said in a filing to BSE.

Gruh Finance: A subsidiary of HDFC LtdBSE 0.58 %, has reported 19.6 per cent rise in net profit at Rs 60.18 crore for the first quarter ended June 30.

MindTree: Mid-sized IT firm MindTreeBSE -3.76 % posted a 3.7 per cent drop in consolidated net profit at Rs 123.5 crore in the first quarter of the ongoing fiscal.

JSW Energy & Jaiprakash Power: Sajjan Jindal-promoted JSW EnergyBSE 0.00 % will acquire Jaiprakash PowerBSE 2.88 % Ventures' 500 MW thermal plant at Bina in Madhya Pradesh at base enterprise value of Rs 2,700 crore.

Camline Fine Sciences: The company said that State Level Environment Impact Assessment Authority, Gujarat, has granted environment clearance to set up a manufacuring facility for hydroquinone/catechol and its downstream products at the Dahej SEZ. It had investment plans of Rs 180 crore for the unit.

Idea Cellular: India's No. 3 carrier, has slashed effective rates of its 4G and 3G Internet packs for prepaid and post-paid customers who use large data packs, offering up to 67 per cent more benefits for the same price.

GATI: Macquarie Bank has sprung a surprise and decided to go back on its bet on leading logistics and express delivery service provider Gati LtdBSE 0.00 %, by cashing out of its entire 5.6 per cent stake in the company.

Indian Stock Market Opening Bell ; Market may trend higher

The Indian stock market may be trending higher on Monday but the main focus will be Parliament monsoon session that begins today and earnings. The 30-share BSE Sensex was down 105.61 points at 27836.50 and the 50-share NSE Nifty declined 23.60 points to 8541.40 on Friday. For Live Stock Market Updates Visit Us www.marketmagnify.com/freetrial.php or Get Free Trials Just Give One Missed Call @78-79-88-11-22.

Citi, which remains constructive on the market with a target of 28,800, expects an aggregate Sensex earnings growth of around 13 percent for the current financial year. Earnings to be announced by big companies this week are Wipro, Cairn India, Ultratech Cement, HDFC Bank, Kotak Mahindra Bank and Axis Bank.

Stock calls: 5 large caps to buy or sell on Monday;

CLSA has a sell rating on Tata Steel with a target of Rs 235 per share. It remains negative given weak steel price environment.

Infosys :-

JP Morgan has an overweight rating but slashed target price to Rs 1250 from Rs 1350 per share as Q1 print disappointed significantly on revenue. It says internal metrics are still trending well and adverse implications of Brexit are key risks to target and rating. Kotak has an add rating but slashed target price to 1250 from Rs 1340 per share.

Reliance Industries:-

Morgan Stanley has an overweight rating with a target of Rs 1329 per share assuming USD 4.50 per barrel spread as a sustainable level. It adds lower DD&A, higher run-rate Of GRMs are upside risks to stock. Bank of America Merrill Lynch has reiterated a buy call with a target of Rs 1200 per share. Goldman Sachs has maintained buy rating but increased target price to Rs 1160 from Rs 1145 per share. 

Tata Steel :-

CLSA has a sell rating with a target of Rs 235 per share. It remains negative given weak steel price environment. 

Alembic Pharma :-

ICICI Securities initiates coverage with add rating and a target of Rs 654 per share. It expects 20 percent revenue and 22.3 percent PAT CAGRs over FY16-19. 

LIC Housing Finance :-

Bank of America Merill Lynch has reiterated buy rating and increased target to Rs 635 per share. It has cut FY17 estimates by 4 percent to reflect one-time charges in Q1.

Indian Stock Market News ; Nifty above 8450, Sensex up 450 pts; Midcap index at record high

The Indian stock market opened with a strong positive gap Monday morning, as Friday's strong rally on Wall Street on the back of upbeat jobs data, and the resultant upswing in Asian markets today set up a solid platform for the bulls back home. We have been providing valuable Trading Tips to our clients through various methods.For more just visit www.marketmagnify.com/freetrial.php or Just Give Missed call us @91-78-79-88-11-22.
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The Indian stock market extended rally in morning trade with the Nifty reclaiming 8450 level for the first time since August 2015. The 30-share BSE Sensex rose 466.49 points or 1.72 percent to 27593.39 and the 50-share NSE Nifty was up 132.35 points or 1.59 percent at 8455.55. The broader markets remained strong with the Midcap index hitting record high. 

The Indian market breadth was strong as about four shares advanced for every share falling on the Bombay Stock Exchange. All sectoral indices traded in green with the PSU Bank and Infra rising the most. ICICI Bank, HDFC Bank, HDFC, Tata Motors, L&T, ITC and SBI surged 2-4 percent. Asia markets traded higher, bolstered by election results in Japan and Australia and shrugging off concerns a strong US jobs report might push the Federal Reserve closer to hiking rates.

Expectations that the government will manage to pass the much awaited GST Bill during the monsoon session of parliament and an encouraging report from the weather office are also aiding the rally.The BSE benchmark Sensex is up 450.96 points or 1.66% at 27,577.86, slightly off a high of 27,591.95 it touched a little while ago. The Nifty50 of the National Stock Exchange, which soared to 8455.85, is up 126.20 points or 1.52% at 8449.40.