Banks recover Rs 40,400 crore from defaulters: RBI report

The various channels through which lenders recovered their bad loans include the Insolvency and Bankruptcy Code (IBC), SARFAESI Act, debt recovery tribunals (DRTs) and Lok Adalats.

Banks have seen a significant improvement in recovery of stressed assets helped by the Insolvency and Bankruptcy Code (IBC) and amendments in the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, during FY18, according to the RBI data.

In the fiscal ended March 2018, banks recovered Rs 40,400 crore worth of bad loans as against Rs 38,500 crore recovered in FY17.

The various channels through which lenders recovered their bad loans include the Insolvency and Bankruptcy Code (IBC), SARFAESI Act, debt recovery tribunals (DRTs) and Lok Adalats.

While banks recovered Rs 4,900 crore of bad loans through the IBC, the amount recovered through SARFAESI was Rs 26,500 crore in FY18, the RBI said in its annual report on Trends and Progress of Banking in 2017-18, released to over the weekend. "Apart from vigorous efforts by banks for speedier recovery, amending the SARFAESI Act to bring in a provision of three months' imprisonment in case the borrower does not provide asset details and for the lender to get possession of the mortgaged property within 30 days, may have contributed to better recovery," the report highlighted.

During the year, recovery through Lok Adalats and DRTs declined alongside the number of cases referred, partly indicative of the growing clout of the IBC mechanism for resolution of stressed assets, the monetary authority noted.

The average recovery through IBC is greater than other mechanisms (SARFAESI, DRTs and Lok Adalats) and is also improving gradually, pointing to the need and efficiency of such a channel, the report said.

"Strengthening the infrastructure of the insolvency resolution process, including the proposed increase in the number of benches of the National Company Law Tribunals (NCLTs), should help reduce the overall time currently being taken for resolution under the IBC," the RBI said.

Besides recovery through various resolution mechanisms, banks are also cleaning up theirs balance sheets through sale of doubtful/ loss assets to assets reconstruction companies (ARCs) and other banks/NBFCs/financial institutions by taking haircuts, the report said.

During 2017-18, the acquisition cost of ARCs as a proportion to the book value of assets, has gone up, indicating better realisations by banks on sale of stressed assets.

While private sector banks have been most aggressive on asset sales, state-run lenders lagged, mainly owing to large haircuts and various management issues, the report said.

Source: https://www .moneycontrol.com/news/business/banks-recover-rs-40400-crore-from-defaulters-rbi-report-3337351.html

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S1-31350
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SILVER MAR FUTURE

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S1-37800
S2-37600



CRUDE OIL DEC FUTURE

R2 –3760
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S1-3660
S2-3630



COPPER FEB FUTURE

R2 –448
R1-444.50
S1-437.50
S2-433

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S2-38000



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Stocks in the news: Axis Bank, IOC, Ashoka Buildcon, Uflex, Texmaco Rail, Mangalam Drugs

Arrow Greentech | IFCI | Mangalam Drugs & Organics | United Breweries | Escorts | Axis Bank | IOC and Ashoka Buildcon are stocks which are in the news today.

Here are stocks that are in the news today:

Axis Bank: Board appointed Amitabh Chaudhry as an Additional Director of the bank and to hold office as such till the conclusion of the ensuing Annual General Meeting and as the Managing Director & CEO of the bank, for a period of 3 years, with effect from January 1, 2019. Board approved the reappointment of Samir Barua, Som Mittal and Rohit Bhagat as Independent Directors of the bank for their second consecutive term from April 1, 2019 upto the expiry of their respective tenure of 8 years.

Alembic Pharma - meeting of NCD Committee will be held on December 14 to consider and approve the issue and allotment of unsecured

listed redeemable non-convertible debentures (NCDs) of upto Rs 350 crore on private placement basis

IOC board meet on December 13 to consider buyback of equity shares and interim dividend for the Financial Year 2018-19

Ashoka Buildcon: Company received Letter of Acceptance by Rail Vikas Nigam Limited, for the project in connection with 3rd Line from Sonnagar to Garhwa Road in Dhanbad Division of East Central Railway, Bihar and Jharkhand in 2 packages. The aggregate accepted bid value of the project is Rs 794.20 crore.

Escorts: Company has executed the business transfer agreement for transferring the existing RT crane business of the company as a going concern on a slump sale basis to the JV (with Tadano Limited, Japan) for an amount not exceeding Rs 35 crore.

United Breweries: Steven Bosch, Director and Chief Financial Officer of the company tendered resignation.

Mangalam Drugs & Organics: Unit-1 facility was recently inspected by WHO prequalification team and the company has received the WHO Pre-qualification approval for Unit-1.

Punjab and Sind Bank board meeting on December 12, 2018 to consider issue of equity shares by way of QIP upto an amount of Rs 500 crore

IL&FS Engineering and Construction Company: Ganapathi Ramachandran, Non-Executive Independent Director of the company tendered resignation from the directorship of the company.

Tamil Nadu Newsprint & Papers: ICRA reaffirmed A (Negative) rating for fund based term loan worth Rs 1,858 crore.

Bank of Baroda issues Basel III Compliant Tier II Bonds worth Rs 971.50 crore on private placement basis

IFCI Q2: Standalone loss at Rs 16.55 crore versus loss at Rs 293.65 crore; revenue at Rs 432.94 crore versus Rs 763.50 crore YoY.

Brigade Enterprises: Brigade Group announces the launch of Parkside- Independent living for seniors, across Bangalore.

Vodafone Idea - Brickwork has revised NCD rating to BWR AA- (outlook negative) from BWR AA

Essel Propack: Company issued commercial papers for Rs 50 crore.

Seamec: Company entered into a Charter Party with Supreme Hydro Engineering Pvt Ltd for charter hire of vessel 'Seamec Princess' for working at Mumbai High Offshore. The tenure of the contract is for a firm period of 150 days with option for extension. The value of Charter during firm period is $3.08 million.

VXL Instruments: Board appointed Kishan S Rao as the Chief Financial Officer (CFO) of the company.

Pritish Nandy Communications: Company announced the launch of the first season of its 10 episode Amazon Original show 'Four More Shots Please' to be streamed on Amazon Prime from January 25 2019.

Arrow Greentech: Subsidiary Avery Pharmaceuticals Private Limited (Arrow Rx) received an approval for site plan to manufacture Mouth Dissolving Strips from Food & Drugs Control Administration (FDA}.

Uflex: Company has entered into an agreement to acquire 100 percent shares of Flex Chemicals Private Limited, Russia.

Capital India Finance: Board approved the issue of upto 3,45,48,560 equity shares at an issue price of Rs 72 per share, on rights basis, aggregating up to Rs 248.75 crore; and fixed rights entitlement ratio at 4:5.

Precision Camshafts: Mahesh A Kulkarni, Company Secretary and Compliance officer of the company has resigned from the company.

Pritika Auto Industries: Board approved to increase in the limit of investment by foreign institutional investors (FIls) and non resident individuals (NRIs') in the company's equity share capital.

Bulk Deals on December 7

Punj Lloyd: IFCI further sold 23,67,024 equity shares of the company at Rs 4.52 per share on the NSE.

Texmaco Rail: Aequitas Investment Consultancy Private Limited - PMS purchased 34,04,200 shares of the company at Rs 51 per share. However, Equity Intelligence India sold 17,80,364 shares at Rs 51.01 per share and Equity Intelligence India Private Limited [PMS] sold 11,45,241 shares at Rs 51.02 per share.

Sandhar Technologies: Company's officials will be meeting SPA Capital Services on December 11.

Gopal Iron & Steels: Board meeting is scheduled on December 15 to consider sale of asset of the company.

Gallantt Metal: Extraordinary General Meeting to be held on January 4, 2019.

Asian Granito India: Extraordinary General Meeting will be held on January 3, 2019.

Indian Oil Corporation: Board meeting is scheduled on December 13 to consider buyback of the fully paid-up equity shares of the company and declaration of interim dividend for the financial year 2018-19.

Titan Company: Company's officials will be meeting fund houses or insurance firms on December 10, 12 and 14.

Shriram City Union Finance: Company's officials will be meeting analysts/institutional investors/brokers on December 10, 11, 12 and 13.

Infosys: Mohit Joshi - President & Head, Banking, Financial Services & Insurance (BFSI), Healthcare and Life Sciences; Head Infosys Brazil and Infosys Mexico and Jayesh Sanghrajka - Interim CFO will participate in a Non-Deal Roadshow in London on December 10 and 11.

Globus Spirits: Company's officials will be meeting LIC Mutual Fund, New Horizon Investments, ICICI Prudential Asset Management, Edelweiss Securities on December 10.

IIFL Holdings: Company's officials will be meeting Southeastern Asset Management on December 10.

HEG: Few Analysts/Investors are visiting the company's plant at Mandideep, Madhya Pradesh on December 10.

Bhansali Engineering Polymers: Jayesh Bhansali - Executive Director cum CFO of the company would meet the analyst/Institutional investor(s) in a conference arranged by Ambit Capital Pvt. Ltd., on December 10.

Supreme Infrastructure India: 35th Annual General Meeting of the company is scheduled to be held on December 31.

Lesha Industries: Board meeting is scheduled on December 26 to consider the sub division/ split of equity shares of the company.

Alembic Pharmaceuticals: Meeting of the NCD Committee of the Company will be held on December 14 to consider the issue and allotment of Unsecured Listed Redeemable Non-Convertible Debentures (NCDs) of upto Rs 350 crore on private placement basis.

Punjab & Sind Bank: Board meeting is scheduled to be held on December 12 to consider issue of equity shares by way of QIP upto an amount of Rs 500 crore.

Finolex Industries: Company's officials will be meeting Ventura Securities on December 10.

PPAP Automotive: Company's officials will be attending conference of analysts and investors organised by Ambit Capital on December 10.

Shoppers Stop: Company's officials will be meeting Martin Lau, Managing Partner and Vinay Agarwal, Director of First State Stewart Asia, on December 11; Anand Shah, Sr. VP Consumer of Axis Capital - Institutional Equities on December 12, Nikhil Desai and Rushabh Sheth, Directors of Karma Capital, Harsh Shah of CGS-CIMB Securities (India) Pvt. Ltd. on December 12.

Panyam Cements & Mineral Industries: 62nd Annual General Meeting of the company is to be held on December 31.

RCL Retail: Eighth Annual General Meeting of the company is scheduled to be held on December 29.

https://www .moneycontrol.com/news/business/markets/stocks-in-the-news-axis-bank-ioc-ashoka-buildcon-uflex-texmaco-rail-mangalam-drugs-3269681.html

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Stocks in the news: Zydus Wellness, Khadim India, HCL Tech, NHPC, Wipro

Sagar Cements | Coal India | Rural Electrification Corporation | HCL Tech | Kajaria Ceramics | IFCI and Punj Lloyd are stocks which are in the news today.

Here are stocks that are in the news today:

NHPC: Company has been declared as the successful resolution applicant by the Committee of Creditors (CoC) of Lanco Teesta Hydro Power Limited subject to the final approval by adjudicating authority.

IBM to sell some of its software products to HCL for $1.8 billion

Khadim India: The company has issued the commercial paper for an aggregate amount of Rs 30 crore.

Cadila Healthcare and Zydus Wellness: Company entered into a share subscription agreement (SSA) with subsidiary Zydus Wellness to subscribe to 85,02,170 equity shares at an issue price of Rs 1,382 amounting to Rs 11,74,99,98,940.

Wipro: Company and Alfresco expand partnership to offer open source based digital transformation capabilities.

Sagar Cements: Consolidated cement sales increased 36.29 percent to 3,15,106 MT versus 2,31,202 MT YoY.

Punjab & Sindh Bank: Bank to consider issue of equity shares via QIP up to amount of Rs 500 crore and issue of Basel III Compliant Tier II bonds up to of Rs 1,500 crore - CNBC-TV18.

HUDCO: Board to mull raising up to Rs 1,000 crore via bonds.

Coal India: Government cuts stake in company by 2.2 percent to 72.9 percent.

IL&FS Financial Services: Company unable to service obligation of interest payment of NCDs worth Rs 52 crore due December 6 - CNBC-TV18.

Rural Electrification Corporation: Company approved JV with Maharashtra Power Utility for new projects and to sell transmission unit to Power Grid.

IL&FS Engineering and Construction Company: Bhaskar Chatterjee, Non-Executive Independent Director of the company tendered his resignation from the directorship of the company.

Nandan Denim: Vedprakash Chiripal, belonging to promoter & promoter group entities, acquired 40,000 equity shares of the company through open market on December 4.

Polycon International: Bank loan rating of the company has been revised by the rating agency, Brickwork Ratings from BB to BB- and A4+ to A4.

Bulk Deals

Kajaria Ceramics: Wasatch Advisors Inc A/C Wasatch International Growth Fund bought 10,37,576 shares of the company at Rs 435.35 per share while Abu Dhabi Investment Authority sold 10,10,000 shares at Rs 435.26 per share on the NSE.

Punj Lloyd: IFCI sold 43,97,267 shares of the company at Rs 4.98 per share on the NSE.

Shubhlaxmi Jewel Art: Kanadia Fyr Fyter Private Limited sold 80,000 shares of the company at Rs 27.5 per share on the NSE.

Vikas EcoTech: Garg Vikas sold 75,00,000 shares of the company at Rs 12 per share on the NSE.

Analyst or Board Meet/Briefings

Indo Count Industries: Company's officials will be meeting investors and analysts (participants) on December 7.

Dolphin Medical Services: 26th Annual General Meeting of the members of the company is scheduled to be held on December 29.

VIP Clothing: Company's officials will be attending conference organised by Systematix Shares & Stocks (I) Limited on December 7.

Muthoot Finance: Q2FY19 results conference will be held on December 7.

Siyaram Silk Mills: Company will be participating in Consumer /Investor Conference on December 7 in Mumbai.

Source: https://www. moneycontrol.com/news/business/markets/stocks-in-the-news-zydus-wellness-khadim-india-hcl-tech-nhpc-wipro-sagar-cements-rec-coal-india-3261711.html

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S1-31200
S2-31100






SILVER MAR FUTURE

R2 –37900
R1- 37700
S1-37300
S2-37100




CRUDE OIL DEC FUTURE

R2 –3790
R1-3760
S1-3700
S2-3670



COPPER FEB FUTURE

R2 –442
R1-438.50
S1-431.50
S2-428

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Bulls dominated D-Street in 7 of the last 10 Decembers; will 2018 be any different?

The maximum gain was seen in 2008 when the Sensex rallied 9.1 percent. The second biggest gain was in 2017, when it rose 3.7 percent

The Sensex rallied about 5 percent in November to reclaim 36,000 and the Nifty reclaimed 10,800. If the momentum remains intact, the Nifty will likely hit 11,000 in the December series. Anecdotal evidence suggests the rally is here to stay as bulls have remained in control of D-Street in December in 7 out of the last 10 years.

The maximum gain was seen in 2008 when the Sensex rallied 9.1 percent. The second biggest gain was in 2017, when it rose 3.7 percent. The third highest gain -- 3.3 percent -- was recorded in 2010.

Bears have managed to take control of D-Street in December just three times in the last 10 years. The Sensex fell a little over 6 percent in 2011, 3.7 percent in 2014, and 0.20 percent in 2015.

There could be some volatility due to the US Fed policy meeting, RBI monetary policy meeting, as well as the outcome of state elections, but with foreign investors back on D-Street, some of the macro headwinds have now become tailwinds.

"Nifty should be able to reclaim 11,000 in December series. RBI’s monetary policy on December 5 and state election results will be key to market movements. Our expectation is RBI’s policy will maintain status quo on rate hikes, which will be a breather," Dharmesh Kant – Head, Retail Research, IndiaNivesh Securities told Moneycontrol.

"Inflation is benign and a fall in crude oil prices along with a rise in rupee has turned macro headwinds into tailwinds for now," he said.

Encouraged by falling crude oil prices and a sharp appreciation in rupee, overseas investors have pumped Rs 12,260 crore in the Indian capital markets in November, making it the highest inflow in 10 months.

History suggests overseas investors have been mostly buyers in December in the last 10 years. Foreign investors have pumped money in Indian markets in December six times in the last 10 years. They poured Rs 24,000 crore in 2012, followed by Rs 15,000 crore in 2013. They had invested Rs 10,000 crore in 2009.

The foreign investors have been net sellers four times in December in the last ten years. In 2016 they pulled out more than Rs 8,000 crore followed by Rs 4,747 crore in 2017, whereas they withdrew less than Rs 1,000 crore in 2014 and 2011.

Technical Outlook

The Nifty outlook remains constructive as long as crude trades around $60/bbl and we do not see depreciation in the rupee against the US dollar.

Further volatility in the market could be caused by the outcome of state elections results, US Fed meeting as well as MPC meeting which is due this week. But, given the bounceback in November, it looks like the rally is here to stay.

“The near-term oscillators are positive. However, the medium-term oscillators display mixed signals, while the long-term oscillators of the index are in sell mode. Therefore, we treat the ongoing rise a countertrend rally with positive implications towards the range of 10,950–11,100,” Arun Kumar, Market Strategist, Reliance Securities told Moneycontrol.

“The USDINR breached the psychological zone of 70 and has given strong directional signals from various oscillators. It may attempt to appreciate towards 68.50–69.20 in near to medium term,” he said.

Source: https://www .moneycontrol.com/news/business/markets/bulls-dominated-d-street-in-7-of-the-last-10-decembers-will-2018-be-any-different-3242971.html 

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Fund managers bought 310 beaten-down stocks in Q2; time to go bottom fishing?

Most analysts say investors should consider buying beaten-down stocks, but with a time horizon of 1-2 years.

Benchmark indices have fallen more than 10 percent from their highs, and for the year, Indian market has turned negative but the big carnage has been seen in individual stocks. Most fund managers are using the opportunity to buy quality stocks.

For the quarter ended September, fund managers increased their stake in as many as 310 stocks which have a market capitalisation of more than Rs 1,000 crore and have fallen up to 70 percent so far in 2018.

Stocks in which they raised stake include Manpasand Beverages, Infibeam Avenues, Simplex Infrastructure, IIFL Holdings, JM Financial, Navkar Corporation, Indian Bank, Symphony, Kajaria Ceramics, Dilip Buildcon, Greenply Industries.

Most analysts agree that investors should look at the beaten-down stocks for their portfolio but the time horizon should now be 1-2 years. Picking the right stock will be more important because not every stock will qualify as a sound investment.

While it may be difficult to call a bottom, for those investing with a one-year horizon or longer, it is a good time for bottom fishing. Looking for beaten-down stocks is a good starting point, but ultimately a stock-buying decision has to be based on valuation vs fundamentals.

In general, we believe that in aggregate, the buys made during this period should deliver good returns over a one to the two-year horizon.

Asset base of mutual funds rose to over Rs 24 lakh crore in the July-September quarter, a 14 percent surge from the year-ago period, despite sell off seen in equity market. The S&P BSE Sensex slipped more than 2,000 points in September and a similar downfall is expected by the end of October.

The asset base of the industry, comprising 41 players, was Rs 23.4 lakh crore in the preceding three months, showing a growth of just 2.5 percent on a quarterly basis, according to the data by Association of Mutual Funds in India (AMFzi).

However, tracking weakness in equity market, MF AUM dipped slightly in September but equity funds continued to see inflows. Liquid or money market funds saw outflows to the tune of Rs 2.11 lakh crore in September as compared to inflows of Rs 1.71 lakh crore in August.

Despite market volatility and the credit event, inflows of Rs 11,172 crore in equity funds is very encouraging. It looks like fund managers are using the opportunity to increase allocation towards quality stocks.

Equity markets are very volatile due lot of internal and external factors and in such a volatile environment it is not easy to stick to the same strategy. We as a fund house are very selective in terms of picking sectors and avoiding certain sectors.

So it is better to look fundamentally strong & growing companies, where you want to invest rather than taking a call on the overall market,” he said.

Sticking to quality, fund managers reduced their stake in as many as 270 companies which have fallen up to 80 percent in 2018 which include names like PC Jeweller, Jet Airways, SREI Infra, HCC, BEML, Dewan Housing, Syndicate Bank, Tata Motors, Motilal Oswal, Apex Frozen, Union Bank of India, Bank of India, Avanti Feeds, The South India Bank.

Mutual Funds have been getting consistent flows on a monthly basis despite steep correction in September and October. But, experts fear that if the selling pressure continues, the SIP flows might get impacted.

The SIP flows may start getting impacted if the markets continue to remain depressed. Generally, small investors do not have the appetite to see negative returns. If the market corrections are fast and quick, the investors continue to stay in the markets because they do not fully feel the impact of those corrections

But, if you look at the current markets, the weakness is continuing for the better part of this year. There are no immediate triggers for the markets to bounce back. In such scenario, the fresh SIP creation would slow down and then some of the investors could also stop their SIPs.

Source: https://www.moneycontrol.com/news/business/markets/fund-managers-bought-310-beaten-down-stocks-in-q2-time-to-go-bottom-fishing-3096891.html

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Rupee fall brings back IT, pharma sectors in favour for mutual funds

The rupee has fallen over 15 percent against the dollar so far this year

A sharp slide in rupee has prompted mutual fund managers to bet on export-oriented sectors such as information technology and pharmaceuticals.

The rupee has fallen over 15 percent against the dollar so far this year and is currently trading at 73.43 against the dollar. The currency is down 8.3 percent year on year, which means the depreciation is at a five-year high.

Krishna Sanghavi, head-equities, Canara Robeco Mutual Fund believes companies in export-oriented sectors will benefit from the rupee's depreciation. “We are positive on IT and pharma because of improving business outlook and benefits of rupee depreciation," he says.

Echoing Sanghavi’s view, LIC Mutual Fund’s Chief Investment Officer Sarvana Kumar says, “Pharma and IT companies are likely to report better earnings and an improvement in their profit margins.”

LIC Mutual Fund is sitting on a lot of cash in its equity funds as it feels the upcoming five state assembly elections have given rise to some measure of uncertainty in the market. It is now gradually deploying its cash, taking into account stock valuations and growth, Kumar said.

Fund managers said IT companies having a large exposure to the US will benefit the most, while pharma companies will benefit as exports account for more than 50 percent of their revenues.

Going forward, hedging strategies will be a deciding factor for these companies to make profits on a falling rupee.

ICRA expects the domestic IT services sector to register a compounded annual growth rate of 9-12 percent from 2018 to 2021.

According to the rating agency, there were early signs of improvement in demand for the sector.

Also, given that that the trade deficit and the current account deficit or CAD are rising, the rupee's weakness is beneficial.

The trade deficit hit $157 billion in 2017-18, while the CAD rose to 1.9 percent of the gross domestic product or GDP.

India's third and fourth largest information technology firms reported results this week, and both seem to be recovering from client-specific issues that are slowing growth.

While HCL Technologies reported second-quarter results above analyst estimates, helped by growth across verticals. The Noida-based company's rupee revenue was up 7.1 percent at Rs 14,861 crore, while constant currency growth was 3 percent during the quarter.

On the other hand, Wipro’s IT services revenues rose 5 percent to Rs 14,377.3 crore, 2.8 percent after adjusting for a strong dollar.

Source: https://www.moneycontrol.com/news/business/mutual-funds/mf-wrap-rupee-fall-brings-back-it-pharma-sectors-in-favour-for-mutual-funds-3092981.html

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CRUDE OIL OCT FUTURE

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COPPER NOV FUTURE

R2 –458
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S2-449

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CRUDE OIL OCT FUTURE

R2 –5170
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COPPER NOV FUTURE

R2 –460
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Markets remain volatile: Check out the top 10 movers and shakers of the week

Nifty fell 168 points, while Sensex was down 417 points in the last week.

The market remained volatile as it started the week gone by on a positive note but failed to build on the momentum on the back of weak global cues. While on domestic front mixed earnings, WPI Inflation, NBFCs and housing finance companies woes have put pressure on the indices.

During the week, the Nifty made a high of 10710, while Sensex rose to a level of 35605, but could not able to sustain higher levels and recorded a fall of more than 1 percent each. Nifty fell 168 points, while Sensex was down 417 points in the last week.

Here is the list of 10 stocks which moved most in the last week:

DHFL, PNB Housing and Indiabulls Housing | DOWN 21-29%

Non-banking financial companies (NBFCs) and housing finance companies (HFCs) were remained under pressure during the last week on the concerns over credit growth due to the liquidity crisis.

Also, the stocks were down because of fears that mutual funds and other large subscribers to commercial papers issued by NBFCs and HFCs would choose to not rollover the securities when they mature.

Market's Big Bull Rakesh Jhunjhunwala raised his stake in DHFL during July-September quarter when the stock crashed 57 percent on the back of IL&FS-led liquidity crisis fears in the NBFC space.

He bought 13,34,736 equity shares during the quarter taking the total holding to 1,00,00,000 shares from 86,65,264 shares QoQ when the

stock was bleeding.

Meanwhile, Indiabulls Housing will make a detailed presentation to its debt investors (Mutual Funds and Insurance Companies ) of the top 25 Developer Loans.

Dish TV India | DOWN 15%

The company shares fell after Reliance Industries signed agreement to acquire controlling stake in Hathway Cable and Den Networks.

Jio will acquire 51.34 percent stake in Hathway Cable by investing Rs 2,940 crore through a preferential issue. The company will issue 90.8 crore shares to Jio at Rs 32.35 per share.

According to IDFC Securities, the deal is negative for broadcasters & DTH players, while Bank of America Merrill Lynch said Dish TV is likely to be vulnerable from RIL's acquisitions.

NIIT Technologies | UP 18%

The company has reported a healthy sequential growth of 30.3 percent in its consolidated profit to Rs 111.8 crore, driven by strong operational performance. Profit in the quarter ended June 2018 stood at Rs 85.8 crore.

Consolidated revenue during the quarter grew by 10 percent to Rs 907.4 crore QoQ with fresh order inflow expanding to $160 million.

MindTree | DOWN 14%

The company's consolidated profit surged 30.4 percent sequentially to Rs 206.3 crore. Revenue during the quarter grew by 7.07 percent to Rs 1,755.4 crore QoQ

Meanwhile, brokerage firms Citigroup, PhillipCapital, as well as Motilal Oswal slashed their target price for MindTree post Q2 results after the company missed revenue estimates, expensive valuations as well as cautious macro commentary in contrast to current sector mood.

Adani Enterprises | UP 17%

Adani and Total have signed an agreement to jointly develop multi-energy offerings to the Indian energy market. The diversified portfolio includes Liquefied Natural Gas (LNG) and Fuel Retail.

This strategic partnership will therefore allow to create a major footprint in LNG business.

The partnership has set a target of developing various regasification terminals including Dhamra LNG, on the East coast of India.

A meeting of the board of directors of the company will be held on October 31 to consider and approve the unaudited financial results for the quarter and half year ended September 30, 2018.

Hathway Cable | UP 11%

Reliance Industries announced strategic investments in and partnership with cable television service operators Den Networks and Hathway Cable.

The company announced raising funds to the tune of Rs 2,940 crore through preferential allotment to Reliance Jio.

Subject to the approval of the shareholders, the firm has also sought to increase the authorised share capital of the company from Rs 200 crore to Rs 400 crore.

Jet Airways | UP 14%

Share of aviation companies remained in focus on the back of falling crude oil prices in the international markets first time in the last one month.

In the last week Brent crude prices slipped below 80 per barrel. A fall in crude price is helpful for the airline companies as it constituted major part of their expenses.

According to a media report Tata Group has initiated discussions to buy a large stake in the loss-making Jet Airways. However, Jet Airways spokesperson said the news report was speculative.

Avenue Supermarts | DOWN 12 percent

The company posted 19 percent year-on-year (YoY) growth in its net profit at Rs 226 crore. It revenue rose 39 percent to Rs 4,872 crore against Rs 3,507 crore during the corresponding quarter of last year.

Credit Suisse retained underperform call on Avenue Supermarts on the back of near-term risk to earnings and stretched valuations.

Prabhudas Lilladher retained reduce rating on the stock with a target of Rs 1,285 per share.

Source: https://www.moneycontrol.com/news/business/markets/markets-remain-volatile-check-out-the-top-10-movers-and-shakers-of-the-week-3065971.html

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