Today, USD-IND pair is expected to quote in the range of 69.20 and 70.05, it added.

Today, USD-IND pair is expected to quote in the range of 69.20 and 70.05, it added.

On the other hand, average hourly earning grew 0.4 percent compared to growth of 0.2 percent in the previous month, thereby supporting the greenback on lower levels.

Rupee gains 30 paisa in opening, trades at 69.20 and     70.05, says Motilal Oswal.

It opened higher at 69.42 per dollar versus Friday close 69.72.

The Indian rupee has extended the morning gain and trading higher by 37 paise at 69.35 per dollar.

Stocks in the news: YES, Bandhan Bank, Titan Company, ONGC and Sobha.

Stocks in the news: YES, Bandhan Bank, Titan Company, ONGC and Sobha.

Nifty futures on the Singapore Exchange were trading 107.50 point, or 1 per cent, higher at 10,886, indicating a strong start for the Nifty50. Here are a few stocks which may buzz the most in today’s trade: 

Bandhan Bank: Bandhan Banks’s talks with HDFC to either buy into or merge with Gruh Finance, a mortgage-lender for the less affluent, have reached an advanced stage, although the regulatory response to the proposal would decide the fate of the transaction, two people familiar with the matter told ET. 

Titan Company: The company said it saw good growth momentum across all its businesses in the seasonally strong third quarter. It expects the full year growth in Jewelry business to be around 22 per cent. The division added 27 Tanishq stores and closed 3, for the year to date, with the net retail space addition being approximately 65,000 sq. ft, the company told exchanges. 

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ONGC: ONGC Videsh (OVL) has made a significant discovery of oil in its onshore block CPO-5 in Columbia, the company said in a statement. OVL, the overseas arm of ONGC, is the operator of the block and holds 70 per cent interest. State-run oil behemoth ONGC Sunday said it will pump in Rs 6,000 crore in drilling 200 wells over the next seven years in Assam in order to increase the output from the state. Sobha: The company during the third quarter has achieved new sales volume of 908,824 square feet total valued at Rs 698.80 crore with an average realisation of Rs 7,669 per square feet. Sales volume rose 11 per cent YoY for the first nine months. YES Bank: Rajesh Sud, former MD and CEO of Max Life Insurance, and current Yes Bank executive director Rajat Monga are in the race to head the private sector lender, as the incumbent CEO Rana Kapoor steps down on January 31 following a central bank advisory, said two people in the know of the development. ICICI Bank: ICICI Bank and ICICI Venture Funds Management have pulled out of the race to buy the securities and private equity business of IL&FS due to likely conflict of interest as the bank’s chairman GC Chaturvedi is also on the debt-laden company’s new board Godrej Agrovet, UPL: Two global private equity funds KKR & Co and Blackstone Group and two local companies, Godrej Agrovet and TPG Capital-backed United Phosphorus Ltd, have put in independent bids to buy a controlling 57.7 per cent in Gharda Chemicals. Reliance Communications (RCom): The company has accused Ericsson of “distorting issues” by attempting to sensationalise its contempt petition against Anil Ambani, which will hurt attempts to repay other lenders. Birla Corp: Birla Corporation, the flagship company of the M P Birla Group, has entered the construction chemicals and wall putty segments as additives, the company said Friday. 

Dear stock investor 2019 may be year of bulls, but D-Street frets about unclear signs.

2019 may be year of bulls, but D-Street frets about unclear signs.

Stock investors could rack gains in 2019 but they may have to brace for sharp swings amid uncertainties over the general election and the US economy. A majority of 26 top money managers and research heads of brokerages polled by ET, however, said the Nifty will be up 6-17 per cent by December, eclipsing previous records. Axis Bank NSE 1.92 %, HDFC Bank NSE 0.27 %, ICICI Bank NSE 0.54 % and Infosys are among top stock picks for 2019. 

Restrained inflation, soft crude oil prices, and the likelihood of slowing global growth should lower the bond yields in India, where uncertainties about the outcome of this summer’s general elections could make the rupee a bit more volatile, another ET survey of market experts showed. 

HIGHLIGHTS

·  According to an ET poll, Nifty will be up 6-17 per cent by December.

·  Axis Bank, HDFC Bank, ICICI Bank and Infosys are among top stock picks for 2019.

·  Nobody expects the market indices to end lower.

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The majority of the 25 participants polled in this survey said the benchmark bond yield could fall 25-45 basis points from the current level of 7.45 per cent. 

The more optimistic participants believe the gauge could drop below 7 per cent. The rupee, meanwhile, could trade in the 69-73 range against the dollar, with political uncertainty having an exaggerated impact on the local currency in the run up to the national poll, which is likely to be held in April-May. 

The market will take into account political risk in the run-up to elections, so there will be higher uncertainty,” said Nilesh Shah, MD, Kotak Mahindra AMC. “The biggest concern for markets is the formation of the government after the elections and the economic agenda .