Market Live: Sensex, Nifty trading higher, Bank Nifty crosses 21,000 mark

10:37 am: On the BSE, KEC International (6.51 percent), VA Tech Wabag (4.25 percent) and REC Ltd (4.02 percent) were the top gainers.
09:43 am: Bank Nifty crosses 21,000 level after FM Arun Jaitley spoke about the resolution of NPAs of banks on Thursday.
9:30 am: Sensex, Nifty start at a higher note. Sensex up 54 points at 29386 level and Nifty higher by 11 points at 9097 level.
9:15 am: Asian stock markets are mixed Friday after a U.S. vote on a health care bill was delayed, raising doubts among investors over whether President Donald Trump can push through his business friendly agenda.
Japan's benchmark Nikkei 225 index rose 0.9 percent to 19,253.63 as buying picked up following recent losses. South Korea's Kospi dipped 0.4 percent to 2,164.96 while Hong Kong's Hang Seng slipped 0.1 percent to 24,293.67. The Shanghai Composite index in mainland China crept up 0.1 percent to 3,252.71. Australia's S&P/ASX 200 climbed 1.0 percent to 5,764.50.
The Standard & Poor's 500 index fell 0.1 percent to 2,345.96. The Dow was steady at 20,656.58. The Nasdaq composite edged 0.1 percent lower to 5,817.69. The Russell 2000 index, which tracks smaller companies, gained 0.6 percent to 1,353.43.

Stock to watch: Adani Enterprises

 A new environmental campaign to stop the development of Adani Group’s $16.5 billion coal mine in Queensland has been launched with the high-profile backing of former Australian Greens party leader Bob Brown.(Nifty Future Tips)
 Australia’s largest coal project, which could fuel power generation for 100 million Indians and create 10,000 jobs in Queensland, has ignited protests from green groups concerned the development will increase carbon pollution and endanger the health of the Great Barrier Reef marine park in northern Queensland.
 A final investment decision is due to be made by Adani as early as May. The group has invested $3.3 billion in the mine, railway and port project, Gautam Adani, the billionaire chairman of the Indian group, said at a media briefing last week.
 Adani Enterprises Limited a flagship company of the Adani Group is an integrated infrastructure company with businesses spanning coal trading, coal mining, oil and gas exploration, ports, multi-modal logistics, power generation, and transmission and gas distribution

Razorpay Wins 'The Best POS Innovation' Award

Business Wire India
Razorpay, a Bengaluru based online payments company today announced that it has won an award for its product innovation in the prestigious ‘The Innovation Project’ by PYMNTs.com, held at Harvard University, Cambridge on March 16, 2017.

Razorpay won ‘Bronze’ in the ‘Best POS Innovation’ category for its ePOS app among other global competitors such as Alipay, Verifone, First Data and FIS. Getting to the final round involved weeks of deliberation by investors, payments industry experts and community voting. 26-year old, Harshil Mathur, CEO and Co-Founder of Razorpay, received the award on behalf of the company.

The categories included Best B2B Innovation, Most Innovative Payments Player, Most Disruptive Innovation and more. “The PYMNTS Innovation Awards celebrates the companies, and men and women, who have made the most significant contributions to innovation in payments and commerce in the past, and the entrepreneurs who have the most promising solutions for driving innovation forward,” according to Karen Webster, CEO of PYMNTS.com.

The award was given to Razorpay for developing and launching an app in a week from when the Indian Prime Minister made the demonetization announcement. The news impacted citizens due to a shortage of cash and merchants who were not able to sell their goods because of the sudden announcement. Razorpay’s ePOS app helped thousands of retail merchants to stay in business by accepting a suite of digital payment options.

Razorpay created a squad team of analysts, engineers & architects who worked round the clock to launch a range of payment solutions like ePOS. The app replaces the infrastructure needs to accept digital payments for smaller merchants via an app that allows them to accept all forms of digital payments from their smartphones without any additional hardware.

“It’s a proud moment for us to be recognized as the ‘Best POS Innovator’. We’re one of the very few Indian companies to be nominated among the top finalists and winning this prestigious global award. The recognition to be competing with global payments pioneers is a massive boost to our entire team who have been working tirelessly towards India’s cashless push. This is our first award internationally and hopefully the first of many global acknowledgments for quality tech products being made in India,” said Harshil.

The Awards Dinner held at Fenway Park was emceed by Jason Alexander who’s known by millions for his role as George Constanza on “Seinfeld”. Harshil was also one of the panelists for the opening session on the second day of the event, ‘CEO’s and the New World View’.

Razorpay is the second company from India to be selected by the world’s most prestigious startup accelerator Y Combinator, and is trusted by over 22,000 merchants including the likes of Goibibo, Zomato, Nestaway, Akbar Travels, UrbanClap, Nykaa, Chai Point, among others.

Market slips in red; Axis Bank down by 2.5%

Private banks are trading in red whereas PSU banks are trading in green. Nifty Private Bank index is trading lower by 0.3% whereas Nifty PSU Bank index is trading higher by 0.2%.
 Orient Bank and State Bank of India are trading higher by nearly 0.7%. ICIC Bank is trading lower by 0.4% at Rs 273.9 per share, Axis Bank is trading lower by 2.5% at Rs 490.4 per share, Yes Bank is trading lower by 1% at Rs 1500 per share.
 There are 587 advances, 953 declines and 374 unchanged stocks on NSE reflecting some negative undertone floating in the market.
 At 11 AM, the S&P BSE Sensex is trading at 29476 down 42 points, while NSE Nifty is trading at 9117 down 10 points. A total of 51 stocks registered a fresh 52-week high in trade today, while 18 stocks touched a new 52-week low on the NSE.
 The BSE Mid-cap Index is trading down 0.6% at 13837, while BSE Small-cap Index is trading down 0.3% at 14020.

Top 4 stocks to watch out

Indian equity markets are likely to see a subdued start on Monday as cues from Asian markets are mixed and the US market ended the session with modest losses on March 17, 2017.
SGX Nifty is trading down by 6.5 points or 0.07% at 9164 levels, indicating a subdued opening.
Maruti Suzuki
The Indian carmaker is eyeing a double digit growth in the domestic market. The company which has 47% of passenger vehicle market  is set to say goodbye to  the current financial year with a growth rate of 11% in domestic markets, aided by Brezza & Baleno.
State Bank of India
Within 3 months, the government is expected to give approval for merger of country’s largest lender SBI and  Bharatiya Mahila Bank (BMB).
Ashok Leyland
The Chennai-headquartered commercial vehicle manufacturer is planning to set up a new facility in Jharkhand. It will be the first investment from an automobile company which has identified the region as having the potential to grow into a major industrial hub in the country.
MTNL
As per the comments of Anupam Shrivastava, CMD, BSNL, the merger of MTNL & BSNL will be advantageous for both firms, and issues related to salary structure and debt will be arranged first.

This week Large cap mutual funds outperformed

With equity markets touching all-time highs this week, the funds that invest primarily in large cap stocks are visibly outperforming.
Stock Future Tips
Kotak World Gold Fund (G) that invests in global equities is again seen as the top performer this week. The fund has clocked more than 5% gain this week.
Stock Future Hni Tips
DHFL Pramerica Large Cap Fund – 1- Reg (G) is the top performer this week, and has rewarded its investors by delivering gains of almost 4.7% in a time-frame of one week.
Reliance Capital Builder Fund-II-B (G), a close ended scheme, is among the top weekly performers that invest in large cap stocks.
Nifty Future Tips
Interestingly, Reliance Diversified Power Sector Fund (G), a sectoral fund that invests in power and energy stocks has managed to attract investors' attention. The fund has generated nearly 4.6% returns over one week. Hni Future tips

Gap-up opening likely on positive cues from US

Indian equities markets are likely to open the session with a gap-up on Thursday on the back of overnight positive sentiment from the U.S market. The SGX Nifty, which was trading at 9,183, up by 73 points or 0.80 per cent, also signalled a gap-up opening.
 Nifty50 needs to hold above the level of 9,120 to start a fresh upmove towards levels of 9,180-9,230, while on the downside, the level of 9,000 is likely to act as strong support.
 Back home, after a splendid rally in the previous trading session, Indian markets opened the Wednesday trading session on a flat note and oscillated in a thin range for the entire trading session as investors and traders remained cautious ahead of the outcome of the US Federal Reserve’s monetary policy meeting.
 According to data released by the Ministry of Commerce and Industry, India’s exports soared 17.48% to USD 24.5 billion in February, led by petroleum, engineering and chemicals.
 The US stocks surged higher on Wednesday as the Federal Reserve raised interest rates. The Dow Jones Industrial Average gained 113 points to end at 20,950. The S&P 500 index rose 20 points to finish at 2,385. The NasdaqComposite Index advanced 43 points to 5,900. The Fed increased its benchmark interest rate by 25 basis points, noting that headline inflation is moving close to its 2 per cent target. They did not flag any plan to accelerate the pace of monetary tightening, with the policy-setting committee echoing and Fed Chair Janet Yellen emphasising that the future rate increased would be ‘gradual’.
 Asian stocks are trading mixed on Thursday. Japan’s Nikkei 225 shed 44 points, while Hong Kong’s Hang Seng surged over 200 points and the Shanghai Composite gained 22 points.

Infosys Finacle chosen to empower Housing Bank’s Algerian operations

STOCK FUTURE TIPS | INFOSYS FINACLE:-

Infosys Finacle, a wholly owned subsidiary of Infosys has been selected by Housing Bank to power the bank’s operations in Algeria.
 Infosys Finacle will deploy services like Finacle core banking, internet banking solution, trade finance & Finacle Islamic banking solution for the Shariah banking product.
 The Finacle Analytics solution will help the middle-east bank to offer customised services to various customers, and will also help in managing real-time data with respect to non-performing assets.
 It will enable the bank to exploit the realm of granular business functionality while enhancing its services.
 It will help the bank to facilitate deployment, open new branches and implement counter extension easily and directly.
 Established in 1981, Infosys is a global consulting and IT services company.
Its outsourcing services include customer service, finance and accounting, application outsourcing, business process outsourcing, human resources, etc.
Stock view:
Infosys Ltd ended at Rs 1019.7, down by Rs 14.15 or 1.37% from its previous closing of Rs 1033.85 on the BSE.
The scrip opened at Rs 1024 and touched a high and low of Rs 1025.5 and Rs 1015 respectively.
A total of 2441714(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 237469.62 crore.
The BSE group 'A' stock of face value Rs 5 touched a 52 week high of Rs 1278 on 03-Jun-2016 and a 52 week low of Rs 900.3 on 09-Nov-2016.
Last one week high and low of the scrip stood at Rs 1035.9 and Rs 1000.5 respectively.
The promoters holding in the company stood at 12.75 % while Institutions and Non-Institutions held 57.89 % and 28.87 % respectively.