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Nifty midcap continues to rise for 12th session in a row, gains 7.3%
Posted on 7th August 2018
The Nifty indices for small- and mid-cap stocks clocked gains for a 12th consecutive day on Monday and yielded returns of 8.9% and 7.3%, respectively during the period as investors lapped up beaten-down stocks from the two categories.

The 12-day rally has also helped both indices to pare their year-to-date (YTD) losses to 16.5% and 9.2%, respectively. From the beginning of 2018 to mid July, the two gauges fell by as much as 23.3% and 16%, respectively.

The Nifty small-cap index ended the session at 7,597.35, up 0.21%, while the mid-cap gauge closed at 19,199.20, up 0.45%.

Sentiment also got a boost after better-than-expected earnings posted by a section of companies buoyed investor optimism about the outlook for their profit growth.

The Adani Power stock, which rallied the most in the last 12 sessions by rising 48%, added another 3.13% on Monday after the power company reported a lower-than-expected loss for the quarter ended June 2018.

The company reported a loss of Rs 825 crore against the Bloomberg consensus estimated loss of Rs 1,166 crore for the quarter.

Dilip Buildcon’s share price has risen 34.6% since July 19, Aditya Birla Fashion and Retail (ABFRL) followed by a 32% gain.

Vakrangee and PC Jeweller, which have lost more than 80% of their value since the beginning of 2018, also featured in the list of top performers in the last 12 sessions.

ABFRL posted an unexpected profit of Rs 5.6 crore for the first quarter of FY19, helped by the strong performance of its Pantaloons stores.

Analysts had projected a loss of Rs 16.34 crore for the three months ended June 2018.

ABFRL remains one of the top picks of Jefferies, which has a buy rating on the stock. The investment bank recently observed that while Q1 revenues were slightly better-than expectations, Ebitda, which grew 54.7% year-on-year, surpassed their expectations.

“ABFRL is showing signs of turnaround across segments and remains best placed to fight the increased competition given strong brands across price points, format and distribution (e-commerce contributes high single digit to Madura)”, Jefferies said in a note post the company’s results.

On Monday, shares of Indiabulls Ventures climbed to their life-time high of Rs 639.75 on NSE.

The stock has recorded over two-fold increase in 2018 so far after gaining nearly 13 times in 2017.

Among the Nifty small-cap stocks, Reliance Naval and Engineering, Sintex Plastics Technology, Trident and Gujarat Alkalies & Chemicals rallied in the range of 37.5% and 30% between July 19 and Monday, while the broader Nifty50 rose 3.9% during the same period.

Related Companies: National Stock Exchange of India Ltd (NSE)    

Other Latest News
Hindustan Petroleum Corp enters into a long-term agreement with HMEL
Posted on 22nd September 2018
Hindustan Petroleum Corporation (HPCL) on Friday entered into a long-term agreement with HMEL (HPCL-Mittal Energy) for operations and maintenance of its newly-commissioned bitumen terminal at Bathinda.

HMEL recently set up a bitumen blowing unit with a capacity of 550 million tonne per annum different grades of bitumen plant at Guru Gobind Singh Refinery, Bathinda. The agreement is for storing, handling and dispatching the product.

Amazon India to soon sell cow urine and dung based soaps, face packs made by RSS-backed centre
Posted on 22nd September 2018
Soaps, face packs, shampoos and medicinal products made from cow urine and dung may soon be just a click away as an RSS-backed centre says it is set to sell these on e-commerce major Amazon India.

Deen Dayal Dham, a centre run by the RSS in Farah town of Mathura in Uttar Pradesh, will first put up a dozen products related to health, beauty and apparel on the website for sale, a manger at the centre said.

Sensex witnesses flash crash
Posted on 22nd September 2018
Mumbai: The shares of housing finance companies (HFC) and other financial service firms were battered badly on Friday causing a flash crash on the domestic bourses as rumours about default by certain entities amidst rising delinquencies and cost of capital triggered panic selling in the market.

Infosys to offer cloud solutions to global enterprises on Google Clouds
Posted on 22nd September 2018
Software major Infosys would offer scalable services and solutions on demand to global enterprises on search engine's Google cloud platform, the IT major said on Saturday.

"We are partnering with Google to develop cloud transformation and migration services for enabling enterprises transform their businesses on scalable and on-demand model," said the city-based company in a statement.

RIL closes KG-D6 oilfield
Posted on 22nd September 2018
Reliance Industries has permanently shut down its only oilfield (MA field) in the KG-D6 block on the back of dwindling output from the reserve. This was the company’s first foray into oil and gas exploration that began in September 2008 when the field started producing oil.

“The MA (D26) field in Block KG-DWN-98/3 (KGD6), which is being operated by RIL as an operator of the joint venture consisting of RIL (60 per cent), BP (30 per cent) and Niko (10 per cent)

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