Stock Market Today


 

LONDON: Semiconductor firms' shares were a bright spot in early deals on Wednesday in a lacklustre European market , weighed down by a fall among mining stocks and banks.The pan-European STOXX 600 index as well euro zone bluechips fell 0.1 per cent. Tech stocks were the strongest sectoral performers with Apple suppliers Dialog Semiconductor and AMS jumping 5.7 per cent and 3.3 per cent respectively after iPhone optimism lifted Apple shares to a record high overnight.The rise in tech was not enough to outweigh falls among mining firms and oil stocks, which declined on the back of weaker metals and oil prices.Disappointing results from Societe Generale and Commerzbank were a drag on euro zone banks.

banks cent European fall firm mining results semiconductor shares stocks

 

FMCG major Emami Ltd today reported 98.16 per cent drop in consolidated net profit at Rs 1.04 crore for first quarter ended June 30, hit by destocking ahead of GST implementation in domestic market and overseas inventory correction.The company had posted a consolidated net profit of Rs 56.65 crore in the same quarter last fiscal, Emami said in a BSE filing.Net sales during the period under review were at Rs 541.1 crore as against Rs 645.43 crore in the year-ago quarter, a decline of 16.16 per cent. Going forward, we expect to regain the momentum in the balance period of the fiscal," Goenka said.He further said the company expected to deliver a good growth in international business as it has already corrected inventory levels in major international markets over the past few months.

cent consolidated crore Emami major market net profit quarter Rs

 

Sagar Doshi of Edelweiss Financial Services has buy call on Bosch with a target price of Rs 26,200.The current market price of Bosch is Rs 24890.Time period given by analyst is intraday when Bosch price can reach defined target.Sagar Doshi recommended to keep stoploss at Rs 23,900.Bosch, incorporated in the year 1951, is a Large Cap company (having a market cap of Rs 75,094.91 crore) operating in Auto Ancillaries sector.Bosch key Products/Revenue Segments include Fuel Injection Equipment which contributed Rs 4591.20 crore to Sales Value (40.20 per cent of Total Sales), Nozzles,Nozzle Holders,Elements And Delivery Valves which contributed Rs 2582.50 crore to Sales Value (22.61 per cent of Total Sales), Others which contributed Rs 1739.70 crore to Sales Value (15.23 per cent of Total Sales), Starters which contributed Rs 1319.60 crore to Sales Value (11.55 per cent of Total Sales), Tools Electric (Portable) which contributed Rs 787.90 crore to Sales Value (6.89 per cent of Total Sales), Sale of services which contributed Rs 201.70 crore to Sales Value (1.76 per cent of Total Sales), Other Operating Revenue which contributed Rs 131.20 crore to Sales Value (1.14 per cent of Total Sales), Export Incentives which contributed Rs 46.90 crore to Sales Value (0.41 per cent of Total Sales), Scroreap which contributed Rs 19.00 crore to Sales Value (0.16 per cent of Total Sales)for the year ending 31-Mar-2016.For the quarter ended 31-03-2017, the company has reported a Standalone sales of Rs 2528.83 crore, down 3.46 per cent from last quarter Sales of Rs 2619.35 crore and up 6.01 per cent from last year same quarter Sales of Rs 2385.52 crore.The company's top management includes Dr.Andreas Wolf, Dr.Steffen Berns, Mr.Bernhard Steinruecke, Mr.Bhaskar Bhat, Mr.Jan Oliver Rohrl, Mr.Peter Tyroller, Mr.Prasad Chandran, Mr.Soumitra Bhattacharya, Mr.V K Viswanathan, Mrs.Renu S Karnad. Company has Deloitte Haskins & Sells LLP as its auditors.

Bosch cent Sales contributed Rs Doshi Mr quarter Rs crore Sagar sale Sales cent

 

President Donald Trump was welcome with loud enthusiastic applause Sunday as he arrived to the U.S. Women's Open at his golf club in Bedminster, New Jersey. President Donald Trump has told members of his New Jersey golf ...

President Donald Trump has told members of his New Jersey golf ...

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Miami streets underwater after heavy rain [-0.08]

Posted on Aug. 2, 2017, 7:19 a.m. by Distressed Volatility @ [source]

Tropical Storm Emily hits Miami putting a street flooding advisory into effect.

Miami streets were left underwater on Tuesday (August 1) after Tropical Depression Emily drenched parts of Florida before moving up the Southeast coast.

advisory Emily flooding hits Miami parts storm Street tropical Tuesday

 

With a 92-5 vote in the U.S. Senate, former Justice Department lawyer Christopher Wray has been confirmed as the new FBI chief.

The Senate Tuesday confirming Christopher Wray as the next Director of the FBI, nearly three months after the firing of James Comey by President Donald Trump.

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President Trump with President Xi Jinping of China at Mar-a-Lago in Palm Beach, Fla., in April. Credit Doug Mills/The New York Times.

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Emami turns volatile post June quarter results [0.04]

Posted on Aug. 2, 2017, 6:53 a.m. by Markets @ [source]

The stock opened nearly 1% higher at Rs 1,080 on NSE.Net sales during the quarter under review declined 16% to Rs 541 crore against Rs 645 crore in the corresponding quarter of previous fiscal.said that the quarter is not the representative of the business outlook of the company as it invested aggressively in promotions of new launches, which further impacted the bottomline during the quarter.The quarter witnessed significant destocking in the domestic market due to implementation of GST and also sizable inventory correction in the international Further, geopolitical conditions in international also impacted the business, it added.Due to such challenges, the consolidated revenues declined by 16%, consequently the profits also reduced. Going forward, the company expects to regain the momentum in the balance period of the fiscal.The trading volumes on the counter more than doubled with a combined 846,800 shares changed hands on BSE and NSE.

business crore declined due fiscal impacted NSE quarter Rs The

 

Volt Information Sciences (NYSEMKT:VISI) provides staffing, outsourcing, and IT services. Founded in 1950 by the Shaw family, currently owning ~20% of shares outstanding, Volt is the first public staffing company.

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Continued pain at Societe Generale's domestic retail division and a decline in the profitability of its global banking arm during the second quarter was partially mitigated by strong growth in the French lender's overseas retail banking operations.

Meanwhile, costs at the division shot up by 3.7 percent year-on-year, outpacing the higher end of earlier guidance, as efforts to transform the business continued apace.

banking business division euros French lender markets net quarter Retail

 

The quote was apart of a recent Sports Illustrated profile of the president and his deep connection to golf.

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A federal appeals court in Washington has agreed to let a group of states get involved in a lawsuit over government payments to insurers as part of the Obama administration's health care law. Aug. 1, 2017, at 8:56 p.m.. MORE.

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Hero MotoCorp up 3% on strong July sales [0.12]

Posted on Aug. 2, 2017, 5:11 a.m. by Markets @ [source]

The world’s largest manufacture had sold 532,113 units in the corresponding month of the previous fiscal (July 2016).Despite sluggish sales for the first few days of the month due the transition to Goods & Service Tax (GST), the company recorded six-lakh plus sales for the month of July, said in a press release.This is the third consecutive month of six-lakh plus sales for the company in this fiscal, having clocked 624,185 units in June and 633,884 units in May.The company said it is confident of carrying forward this growth momentum into the upcoming festive season.“With dealers replenishing inventories in the system (diminished inventories for GST implementation) and strong underlying demand trends due to rural demand recovery, and TVS Motors reported strong two wheeler sales in the domestic market,” IIFL Wealth Management said in a note.

due fiscal GST inventories July lakh sales six strong units

 

Chinese peer-to-peer lending platform Dianrong said on Wednesday it raised $220 million from a group of investors led by Singapore sovereign wealth fund GIC, looking to step up research of new technology as it expands across China and explores ventures in other countries in the region.

Other investors in the funding round included CMIG Leasing, a unit of China's biggest private investment conglomerate China Minsheng Investment Group (CMIG), and South Korean fund manager Simone Investment Managers, Dianrong said.

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Dalal Street is expecting a minimum of a quarter-percentage point rate cut by the Reserve Bank of India (RBI) on August 2. Both the indices closed at their lifetime high levels on Tuesday.A poll conducted by ET among 20 market participants showed 17 of them have voted for a 25 basis points cut in repo rate – the rate at which high-street lenders borrow short-term funds from the central bank – on Wednesday.

bank benefit cent government interest rate rate cut Rs crore strong The

 

In a Facebook live address, the New Jersey Democrat introduced legislation that would legalize pot at the federal level citing that current drug laws "are badly broken" and disproportionately hurt minority communities. His Marijuana Justice Act would provide federal incentives to states to change their marijuana laws and would aim to apply change retroactively to people currently serving time for marijuana offenses.

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NEW DELHI: Shares of hospitality major EIH , which runs hotels and resorts under Oberoi and Trident brands advanced in Wednesday's trade after the company reported 8 per cent rise in total revenue for the quarter ended June 30, 2017.Following the development, the stock gained 1.47 per cent to Rs 134.30 on BSE . It opened at Rs 137.50 and touched an intraday high and low of Rs 138.20 and Rs 133.50 respectively, in the first hour of trade.The company also said that it is likely to open The Oberoi, New Delhi in January next year.

cent Delhi ended June Oberoi quarter reported Revenue Rs trade

 

NEW DELHI: Shares of Edelweiss Financial Services jumped as much as 4.63 per cent in early trade on Wednesday after the financial services firm reported 40.55 per cent rise in net profit at Rs 196.32 crore for the quarter ended June 30, 2017 against Rs 139.68 crore in the corresponding quarter last year.The scrip was trading 3.04 per cent up at Rs 210.35 around 9.50 am (IST). Shares of the company opened at Rs 205.90 and touched a high and low of Rs 213.60 and Rs 204.40, respectively, in trade so far.

cent crore Edelweiss financial quarter Rs services shares trade week

 

Shares of fertilizers companies were in focus, rallied by up to 15% on BSE in intra-day deal, in otherwise subdued market.

Rashtriya Chemicals and Fertilizer (RCF), Nagarjuna Fertilisers, Chambal Fertilisers, & Petrochemicals Corporation and Fertilizers and Chemicals Travancore (FACT) were up more than 4% each.

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