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UPDATE 2-Oil steady as Brent crude hovers below $50 ahead of OPEC meeting

Oil prices were little changed on Friday ahead of a key meeting of major oil producing nations next week, with Brent sitting below the $50 per barrel level that was briefly breached for the first time...
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Equity Research lab Opening Bell

Equity Tips Free Trial | Nifty Tips Nifty              9899.6          26.3    0.003    9873.3 Banknifty    24231.4        18.05    0.001    24213.35 Sensex         32035.88    131.48    0.004    3190...
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Gold steady, on track for second straight weekly gain

  Spot gold edged down 0.04 percent to $1,243.80 per ounce at 0049 GMT after touching a three-week high on $1,247.48 an ounce in the previous session. It has risen about 1.3 percent for the week so fa...
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Opening Bell - Nifty nears 9900; Sensex opens above 32K

Equity tips:- The BSE Sensex opened higher by 131 points at 32035, while the Nifty50 opened higher by 26 points at 9899 mark. There were 904 advances, 460 declines and 456 unchanged stocks on NSE refl...
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Market Live: Sensex, Nifty, Midcap see profit booking; RIL up 3% on 1:1 bonus issue

Balaji Telefilms was up 5 percent as Reliance Industries picked up 24.9 percent stake in the company.
1:41 pm Analyst's take telecom stocks post RIL AGM: Jimeet Modi, CEO, SAMCO Securities said the predatory strategy of Reliance Industries to capture telecom space is quite aggressive and highly disruptive.

Considering the size and scale of Reliance it will capture a lion’s share of the market pie and therefore will disrupt many other ancillary businesses also. The bigger threat will be the dominance that the company will enjoy over many business processes which will be offered digitally will be a cause of concern from the country’s point of view.

The bargaining power that the company will enjoy once the competition is marginalised would be immense which is good for the investors in their long term wealth creation journey but may not he appreciated by the government, but that will take some time to happen, till that time, it is a great opportunity for the Reliance investors to enjoy the telecom wave plus the added 1:1 bonus advantage in the short term.
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 One man’s gain is other’s loss is the reality in the telecom space. The pricing and launch of smart phone at effective zero cost will certainly impact and erode long term profitability of companies in telecom and cable segment.

The stock prices of these companies which are impacted due to Jio, are likely to underperform in the near to medium term, better to avoid them and not to do bargain hunting till the time predatory strategies are alive.

1:33 pm CAG Audit of telecom cos: Comptroller and Auditor General audited 6 private telecom companies and found understatement of adjusted gross revenue of Rs 61,064 crore between FY11-15.

CAG audited Airtel, Vodafone, Reliance Communications, Idea Cellular and SSTL.

Short payment of Rs 7,698 crore revenue to government is due to adjusted gross revenue understatement. Interest due on short payment of revenue upto March 2016 is Rs 4,532 crore, CAG said.

1:27 pm Reliance Retail: Mukesh Ambani said this year, Reliance Retail crossed Rs 33,000 crore which is a significant milestone in journey, a growth of 60 percent year-on-year.

And turnover for the 4th quarter was in excess of Rs 10,000 crore – the first time any retailer in India has achieved this milestone.

371 new retail stores were opened last year.

Over the next 12 months, network of stores will scale up rapidly to penetrate into Tier 2 and Tier 3 cities of India.

1:25 pm Results: Atul's first quarter profit fell sharply by 57.3 percent to Rs 34.4 crore as EBITDA declined 35.4 percent to Rs 76.2 crore and margin plunged 690 basis points to 11.7 percent YoY.

However, revenue grew by 2.2 percent to Rs 690 crore from Rs 675.1 crore YoY.

1:19 pm CMD Mukesh Ambani said Reliance Industries at its 50th year will be amongst top 50 companies in the world.

Next 10 years of growth will surpass last 40 years of value creation. Energy and materials business will have Rs 1 lakh crore EBITDA while Jio is a jewel among many assets of Reliance Industries.

1:10 pm Earnings: DHFL shares fell 5 percent despite profit increased 29.3 percent year-on-year to Rs 260.5 crore and stable asset quality.

Gross non-performing assets increased moderately to 0.97 percent from 0.94 percent QoQ and net interest margin improved to 3.05 percent from 3.04 percent.

Disbursements grew by 32.5 percent to Rs 8,237 crore and asset under management increased 22.5 percent to Rs 88,236 crore YoY.

1:02 pm Market Check: Equity benchmarks erased morning gains, with the Sensex down 5.90 points at 31,898.50 and the Nifty down 7.40 points at 9,865.90.

Even the Nifty Midcap index declined 0.8 percent.

All sectoral indices barring IT were in red. Nifty Bank lost 0.4 percent.

12:55 pm Results: Indian Bank posted 18.1 percent growth in net interest income and 21.2 percent growth in profit YoY.

Asset quality improved during the quarter as gross non-performing assets declined to 7.21 percent from 7.47 percent and net NPAs declined to 4.05 percent from 7.39 percent.

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Equity Research lab Opening Bell

Equity Tips Free Trial | Nifty Tips   Nifty 9920.2 20.6 0.002 9899.6 Banknifty 24170.65 18 0.001 24152.65 Sensex 32033.82 78.47 0.002 31955.35 USDINR 64.32 -0.04 -0.001 64.36     Bank Nifty touched it...
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Market momentum may continue, watch out for Nifty's 9928 level

Equity tips:-                       Indian markets are likely to open flat on Thursday, tracking mixed trading across Asian markets. The muted trend in SGX Nifty, which was trading at 9,918, down by 1...
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Oil steady after big drop in US fuel stocks, but markets remain bloated

  Crude oil prices are still capped below the key $50-per-barrel mark on concerns about high production from the Organization of the Petroleum Exporting Countries (OPEC) despite its pledge to cut outp...
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