Market Live: Nifty volatile, Auto index outperforms; Infosys, HDFC twins dip From Capitalheight

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Credit Suisse has maintained its Outperform call on Larsen & Toubro, the engineering and construction major, due to strong domestic inflows.

“More than half the orders are coming from state government entities now. Private sector ordering still continues to be low in single digits while the company has had no orders from the Middle East in FY19 as yet,” the research house said.

The global brokerage firm sees an uptick in margin on operating leverage & pricing power. “Valuations still look reasonable at 18x FY20e consolidated EPC and investment cycle is building up & can add upside visibility.”

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This squad of 11 stocks may be the world beater with PM Modi as coach by CapitalHeight

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As the greatest spectacle on earth kicked off last week, it’s time to choose your dream team. Sadly, India doesn’t have a contingent at Russia, but I present to you a squad of 11 stocks that can be world beaters.

Given the market conditions, I start with a traditional 4-3-3 format. I was tempted to put in 4 forwards but chose the more orthodox approach. I do have a few substitutes to juice up the portfolio, if conditions change.

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Stock Market Opening Bell 13-June– 2018: Capitalheight

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CH: OPENING BELL

NIFTY FUTURE UP 4 @ 10843

BANK NIFTY FUTURE UP 54 @ 26672

SENSEX UP 135 @ 35834

INR @ 67.55

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10 Expert Stock Ideas to Rate-Proof your Portfolio in 2018 From Capitalheight

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The Reserve Bank of India’s Monetary Policy Committee (MPC) as expected raised the key policy (repo) rate by 25 basis point to 6.25 percent for the first time in four-and-a-half years and a first under the Narendra Modi-led National Democratic Alliance. The last time RBI had raised the repo rate was in January 2014 by 25 bps to 8 percent. Since then, it has either cut rates or maintained the status quo.

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Bharti AXA Life reports maiden profit of Rs 5 crore in FY18 From Capitalheight

capitalheightPrivate life insurance company Bharti AXA Life Insurance has achieved breakeven in FY18. The company posted its maiden profit of Rs 5 crore in the financial year 2017-18 against a loss of Rs 120 crore in FY17.

The insurance company is a joint venture between Bharti Enterprises and France’s AXA where the former holds 51 percent and the foreign partner holds 49 percent stake.

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Capitalheight:TCS falls 2% after stock price adjusts for bonus share issue

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Country’s largest IT services exporter Tata Consultancy Services share price fell nearly 2 percent after the stock adjusted for bonus share issue.The board of directors of the company, on April 19, had recommended bonus issue of equity shares in the ratio of one equity share of Re 1 each for every one equity share of Re 1 each held by the shareholders of the company as on the record date.

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नोटबंदी: बैंकों में जमा हुए 8.45 लाख करोड़ के पुराने नोट

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मुंबई। नोटबंदी के बाद बैंकों में 500 और 1,000 के पुराने नोटों में कुल 8.45 लाख करोड़ रपए जमा हुए हैं या बदले गए हैं। यह आंकड़ा 27 नवंबर तक का है। रिजर्व बैंक ने एक बयान में यह जानकारी दी। केंद्रीय बैंक ने कहा कि इस दौरान बैंकों ने काउंटर तथा एटीएम के जरिए 2.16 करोड़ रुपए वितरित किए हैं।

गत 8 नवंबर को 500 और 1,000 के नोटों को बंद करने की घोषणा की गई थी। इसके बाद रिजर्व बैंक ने इन नोटों को बैंकों में जमा कराने या उनको   बदलने की व्यवस्था की थी। यह सुविधा रिजर्व बैंक और अन्य वाणिज्यिक बैंकों के काउंटरों के अलावा क्षेत्रीय ग्रामीण बैंकों तथा शहरी सहकारी बैंकों में उपलब्ध है।

केंद्रीय बैंक ने कहा कि 10 नवंबर से 27 नवंबर तक बैंकों ने 8,44,982 करोड़ रपए के नोट जमा किए हैं या बदले हैं। इनमें से 33,948 करोड़ रपए के   पुराने नोट बदले गए हैं और 8,11,033 करोड़ रपए जमा किए हैं। इस दौरान लोगों ने बैंक काउंटरों या एटीएम के जरिए 2,16,617 करोड़ रुपए निकाले हैं।

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Rupee Extends its Losses; Slips to Lowest Level Since Aug 2013

Rupee updates-CapitalHeightThe Indian rupee, extended its losses for the fifth consecutive day and traded 17 paise down at 68.73 against the US dollar, its lowest level since August 2013.

The rupee crashed to a nearly 39-month low of 68.84 amid sustained foreign fund outflows and the greenback’s surge in overseas markets.

The rupee breached the 68.80 mark as upbeat economic data strengthened the prospect for higher US interest rates, while the dollar’s bull run continued as US bond yields hovered near multi-year highs.

The rupee has fallen against the dollar since Donald Trump won the presidential election in the US on November 9, 2016. It has fallen from the 66.43 level and reached the 68.8325 mark today.

On the global front, Federal Reserve chair Janet Yellen has announced that Trump’s election has done nothing to change the federal reserve’s plans for a rate increase “relatively soon.” A rate hike in US will lead to flow of money from emerging markets leaving their currencies and assets vulnerable to the negative risks.

Chinese Yuan is also sinking, with values tumbling to a record low of 6.9378 against the US dollar at one point of time yesterday in the offshore markets. US dollar index will witness further gains, with values expected to hit 105 in the coming weeks. Euro seems to be the most vulnerable, influenced by the uncertainty over Italian constitutional referendum in the first week of December.

The Indian Rupee closed lower by 31 paise at 68.56/$. The local unit hit a high of 68.67/$ and a low of 68.83/$ today.

The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.47 while for the Euro it was 72.78. The RBI’s reference rate for the Yen stood at 61.71; reference rate for the Great Britain Pound (GBP) stood at 84.9665.

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Rupee Opens at Fresh 9-Month Low; Down 18 paise

rupee-down-capitalheightThe Indian rupee opened at fresh 9-month low at 68.74 per dollar on Thursday. It has slipped 18 paise versus previous close 68.56.

The rupee is near to its record closing low of 68.85 per dollar, which it has tested on August 28, 2013.

Mohan Shenoi of Kotak Mahindra Bank said, “Dollar rally across the board is continuing. December US Fed rate hike is now certain. While rupee has weakened sharply against dollar, it has in fact strengthened against currencies like euro and yen.”

“We expect the USD-INR to trade in a range of 68.65-69/dollar for the day,” he said.

The dollar surged to a more than 13-year peak, bolstered by upbeat US economic data that showed the economy on track for steady growth and reinforced expectations of interest rate increases by the Federal Reserve next month and in 2017.

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