Todays Market Nifty 8,723.05 (-108.50) (-1.23%)

Sensex   28,294.28 (-373.94) (-1.30%)

  

It’s a good habit to trumpet your failures and be quiet about your successes.

TRADING TIPS

     1. Trading is simple, but it is not easy.

2.  When you get into a trade watch for the signs that you might be wrong.

3.  Trading should be boring.

4.  Amateur traders turn into professional traders once they stop looking for the “next great indicator.”

5.  You are trading other traders, not stocks or futures contracts.

6.  Be very aware of your own emotions.

7.  Watch yourself for too much excitement.

8.  Don’t overtrade.

9.  If you come into trading with the idea of making big money you are doomed.

10.  Don’t focus on the money.

11.  Do not impose your will on the market.

12.  The best way to minimize risk is to not trade when it is not time to trade. 

13.  There is no need to trade five days a week.  

14.  Refuse to damage your capital.

15.  Stay relaxed.

16.  Never let a day trade turn into an overnight trade.

17.  Keep winners as long as they are moving your way.

18.  Don’t overweight your trades.

19.  There is no logical reason to hesitate in taking a stop.

20.  Professional traders take losses because they trust themselves to do what is right.

21.  Once you take a loss, forget about it and move on.

22.  Find out what loss parameters work best for your setup and adjust them accordingly.

23.  Get a feel for market direction by “drilling down” (looking at multiple time frames).

24.  Develop confidence by knowing and executing your trade setups the same way every time.

25.  Don’t be ridiculous and stupid by adding to losers.

26.  Try to enter a full size position right away.

27.  Ring the register and scale out of your position.

28.  Adrenaline is a sign that your ego and your emotions have reached a point where they are clouding your judgment.

29.  You want to own the stock before it breaks out and sell when amateurs are getting in after the move.

30.  Embracing your opinion leads to financial ruin.

31.  Discipline is not learned until you wipe out a trading account.

32.  Siphon off your trading profits each month and stick them in a money market account.

33.  Professional traders risk a small amount of money on their equity on one trade.

34.  Professional traders focus on limiting risk and protecting capital.

35.  In the financial markets heroes get crushed.

36.  Stick to your trading rules and you will never blow up your trading account.

37.  The market can reinforce bad habits.

38.  Take personal responsibility for each trade.

39.  Amateur traders think about how much money they can make on each trade.  Professional traders think about how much money they can lose.

      40.  At some point all traders realize that no one can tell them exactly what is going to happen next       in the market

Todays Market Nifty 8,831.55 (-35.90) (0.040%)

Sensex 28,668.22 (-104.91) (-0.36%)

Maruti Suzuki Exports Cross 15 Lakh Mark

Maruti Suzuki today announced its cumulative exports has now crossed the 15 lakh mark. The automaker started exports to Europe in 1987-88 and has gradually added more names to the list of its export markets since then. Then there was also the Maruti Zen, 800 in the 90s, followed by the now-discontinued Maruti A-Star. It must be noted the Alto brand also has a sizeable presence in the export markets, having clocked over 3,90,000 sales cumulatively. And earlier this year, the made-in-IndiaMaruti Suzuki Baleno became the first car to be exported from India to JapanMaruti Suzuki today announced its cumulative exports has now crossed the 15 lakh mark. The automaker started exports to Europe in 1987-88 and has gradually added more names to the list of its export markets since then. Then there was also the Maruti Zen, 800 in the 90s, followed by the now-discontinued Maruti A-Star. It must be noted the Alto brand also has a sizeable presence in the export markets, having clocked over 3,90,000 sales cumulatively. And earlier this year, the made-in-IndiaMaruti Suzuki Baleno became the first car to be exported from India to Japan

Todays Market Nifty  8,867.45 (+90.30) (+1.03)

Sensex  28,773.13 (+265.71) (+0.93)

Government announces enhanced support under Merchandise Exports from India Scheme (MEIS) of the Foreign Trade Policy

In the backdrop of the continued challenging global environment being faced by Indian exporters, Department of Commerce has extended support to certain new products and enhanced the rate of incentives for certain other specified products under the Merchandise Exports from India Scheme (MEIS). This has been implemented through DGFT public Notice No 32 dated 22 September 2016.

The following are the major highlights of the support:-

Addition of new products -

2901 additional products falling under different product categories have been added. These include items in the following areas:

Many items of traditional medicines like Ashwagandha herbs and its extracts, other herbs, extracts of different items.

Certain marine products, sea feed items.

Onion dried, processed cereal products and other value added items of plastics, lather articles, suitcases etc

Industrial products under different categories, including engineering goods, fabrics, garments, chemicals, ceramics, glass products, leather goods, newspapers, periodicals, silk items, made ups, wool products, tubes, pipes etc.

Increase in MEIS rates -

Rates of 575 product items falling under 11 products categories have been increased. These product include products of iron and steel, handicrafts, moulded and extruded goods, rubber, ceramic, glass, auto tyres and tubes, industrial machinery engineering items, IC Engines, machine tools / parts, items of wood, paper, stationary, footwear, auto seats, steel furniture, prefabs, items under the category of butter, ghee and cheese, dried egg albumin and rubber products

With this the total number of items covered under the scheme has been increased from 5012 to 7103. The total support extended by Government of India under the scheme has been enhanced from the present Rs 22,000 crore to Rs 23,500 crore per annum 

Todays Market Nifty   8775.90 (-32.50) (-0.37%)

Sensex 28523.20 (-111.30) (-0.39%)

Larsen & Toubro wins orders valued at Rs.1,726 crore

Larsen & Toubro (L&T)

  has won orders worth Rs.1,726 crore across various business segments.

Heavy Civil Infrastructure Business
The business has secured a prestigious order worth Rs.687 crore in the defence sector.

Smart World & Communication Business
The business has secured an order worth Rs.421 crore from Bharat Sanchar Nigam Limited (BSNL) for engineering, supply, installation, commissioning, operation and maintenance of Wi-Fi hotspots and Wi-Fi offload systems on turnkey basis for the Southern & Western States of India.

The scope of work includes installation of Wi-Fi Access Points (AP), provisioning of bandwidth connectivity to the Access Points (AP) and integration with the existing network.

Water & Effluent Treatment Business
The business has won an engineering, procurement & construction order worth of Rs.245 crore from Pune Municipal Corporation. The project scope involves design, procurement and construction of 63 nos. of RCC elevated storage reservoirs ranging from 0.5 ML to 4.5 ML, 19 nos of RCC ground level storage reservoirs ranging from 0.5 ML to 17.0 ML and related infrastructure works for Pune city.

Power Transmission & Distribution
The Business has bagged engineering, procurement and construction orders worth Rs.373 crores. An order has been secured under Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY) from Odisha Power Transmission Corporation Ltd. (OPTCL). The scope includes electrification works in the WESCO utility areas of Odisha.

Another order has been received from Power Grid Corporation of India for the construction of 400kV Double Circuit Mundra – Bhuj Transmission Line in the state of Gujarat.
 
Stock View:
Larsen & Toubro Ltd is currently trading at Rs. 1475.85, down by Rs. 4.35 or 0.29% from its previous closing of Rs. 1480.2 on the BSE.

The scrip opened at Rs. 1482 and has touched a high and low of Rs. 1483 and Rs. 1470.1 respectively. So far 357911 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 138004.11 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1615 on 27-Jul-2016 and a 52 week low of Rs. 1016.6 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 1498.45 and Rs. 1457 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.32 % and 42.62 % respectively.

The stock is currently trading below its 50 DMA.

Todays Market Nifty  8,808.40 (+28.55) (+0.33%)

Sensex    28,634.50 (+35.47) (+0.12%)

Markets remain range-bound; BSE Midcap index up 0.5%

In the broader markets, the BSE Midcap and Smallcap indices were up 0.5% each

Benchmark indices are trading in a narrow range with positive bias led by firm European cues along with select blue-chip companies leading the gains.

At 14:03 pm, the S&P BSE Sensex was up 40 points at 28,639 and the Nifty50 gained 27 points at 8,807. In the broader markets, the BSE Midcap and Smallcap indices were up 0.5% each.

Asian shares advanced on Monday as markets wagered the US Federal Reserve would skip a chance to raise rates this week, while oil bounced on talk of an OPEC deal on output and reports of fighting around Libyan oil ports.    

In the two-wheeler space, Bajaj Auto and Hero MotoCorp were down 0.5%-0.9% each.

Among others, Shares of select textile companies were trading higher by up to 8% on the BSE on expectation of pick- up in sales in coming months in light of good monsoon, 7th pay commission payouts and festive season. Raymond, Alok Textiles, Himatsingka Seide, Aarvee Denims, Trident, DCM and Maxwell Industries were up over 2% each. 

Rules for Traders 

1. Know yourself as a trader, and only take your kind of trades. Take trades that will leave no regrets because they were good trades, regardless of  the outcome.
2. Do not listen to any unsolicited advice about the trade you are in. Follow your own plan and shield yourself from distraction.
3. Sit out markets that you are uncomfortable trading due to volatility or  looming risks. Know when it is time to trade and time to ‘go fishing’.
4. Do your homework before you trade. Be confident in your trade until it hits your stop. Get out when your stop is hit.
5. Keep your ego out of your trading. Run it like a business, with the profits and losses as your focus, not your ego.
6. Only trade when the odds in your favor. It is much less stressful trading this way.
7. Do not blame yourself for losses if you followed all your rules. The market giveth and the market taketh away.  Just keep taking your entries and exits.
8. If you do not know what to do, DO NOTHING.
9. To lower stress levels, trade less and get away from watching every single price change. Day traders could trade only the open and closing hour, swing trader and trend traders could just take opening or closing signals. You could go from every tick to just checking in every hour or so if you have options or hard stops in. Most of the days trading is random noise, and randomness will stress. Focus on your time frame, and only the quotes that really matter when they matter. 

Many successful traders may say they never predict, when what they may really mean is that they never EXPECT their prediction to come true. Thus they may say things like “I only react” when more accurately they are reacting… to a failed prediction. For, it is virtually impossible to trade without predicting. So, I say to all you new traders out there “Don’t be afraid to predict. Just know how likely it is that you’ll be wrong, and know what to do when your prediction fails!”

Milllion $ question will Nifty Kiss 9000 level this expiry ?   CMP 8815

Importance Of Education – Why It Is Important In life ?

            Education is most important among all of us. Education plays a very important role in your life. For living a luxurious life or for living a better life, you should be educated. Education is that which transforms a person to live a better life and even in a social well being. Education is the one that doing something constructive in our near future. It helps a person to show their best by their mind and spirit. It gives you a lot of knowledge in whatever aspects. Education plays a vital role in your success in the personal growth. The more you have knowledge the more you grow. Being educated and earning a professional degree prepares you to be a part in reputed organizations, companies or institutions. For determining what is good or what is bad for you, education will help you. A person who gets good education will become good citizen, more dependable worker. Without education a person is incomplete, so education makes man a right thinker and a correct decision – maker.

            In today’s competitive world education is necessity for man after food, clothing, and shelter. Education is the solution of any problem, it is the only education which promotes good habits, values and awareness towards anything like terrorism, corruption and much more. Education is the strength to a person and education need to a person. Now a days technology plays a important role in continuing the communication of education through known and unknown persons. It is the only fundamental way by which a desired change and upliftment in the society can be taken into effect

Todays Market Nifty 8,779.85 (+37.30) (+0.43%)

Sensex 28,599.03 (+186.14) (+0.66%)

Vodafone to triple points of interconnect with Reliance Jio

Vodafone said it had always provided PoIs to other operators for all their fair, reasonable and legitimate requirements and will continue to do so.

NEW DELHI: Vodafone India is the latest incumbent operator to agree to increase the points of interconnect (PoIs) with Reliance Jio Infocomm. The company Thursday said it will increase the PoIs to Jio to three times what it is providing at present, joining Bharti Airtel and Idea Cellular in doing so
.
The company's statement comes within days of Airtel and Idea Cellular agreeing to augment the PoIs to Jio to be able to service 15 million customers and 6.5 million customers respectively.

Initially defiant, the incumbent telcos had agreed to provide additional PoIs to Jio after the regulator called for a meeting between all four parties last Friday. Jio had complained that it was experiencing 65% call failure because the incumbents refused to provide it additional points of interconnect, required to complete calls originating from one to another network.

Vodafone said it had always provided PoIs to other operators for all their fair, reasonable and legitimate requirements and will continue to do so.

"Following guidance from TRAI and clarifications from Jio regarding its commercial launch, Vodafone India has decided to increase the Points of Interconnect (POIs) between the two operators by thrice and accordingly increase the capacity to connect," the company said in the statement.

The statement added that Vodafone is hopeful that all issues that it has raised with TRAI and Jio will be duly considered and resolved at the earliest.

Todays Market Nifty 8,742.55 (+15.95) (+0.18%) Sensex 28,412.89 (+44.66) (+0.14%)

L&T Technology Services IPO subscribed 70.6% on day two

Mumbai: The initial public offering (IPO) of L&T Technology Services Ltd, excluding the anchor allotment, drew 70.57% demand for its shares as on Wednesday led by institutional investors. The three-day public issue will close on 15 September.

Larsen & Toubro Ltd, the parent firm, is looking to raise Rs.890 crore.

As of 5:15pm on Wednesday, the IPO received applications for nearly 5.14 million shares, showed stock exchange data. The company has offered to sell 7.28 million shares.

The institutional investor category was subscribed 109.99% or 1.09 times, while the non-institutional category comprising high net-worth individuals was subscribed 3.16% or 0.031 times.

Retail individual investors, whose investments cannot exceed Rs.2 lakh in an IPO, book drew 77% demand against 3.64 million shares on offer, data showed.

Domestic and foreign brokerages have recommended investors to subscribe to the IPO with a long-term view, citing the company’s diversified business, strong promoter backing and market growth opportunities.

“We like L&T Technology Services as a long term story. At the price band, L&T Technology offer comes at a price-to-earning (P/E) of 20.7x-20.9x its FY16 EPS, which is at ~20% discount to peers group average (~25x). We believe the promoters have rightly priced the IPO which would have been as even a higher valuation would be alright given the premium it can demand due to the reputation of the parentage,” said Mayank Babla, analyst, KR Choksey Shares & Securities Pvt. Ltd.

On Friday, L&T Technology Services raised Rs.268.32 crore by allotting shares to anchor investors. The firm sold 3.12 million shares to 15 anchor investors at Rs.860 apiece, the upper band of the Rs.850-860 price band for the issue.

Institutions that participated in the anchor book include Sundaram Mutual Fund, DSP Blackrock Mutual Fund, FIL Investments (Mauritius) Ltd, Blackrock India Equities (Mauritius) Ltd, JP Morgan Funds, Oaktree Emerging Markets Mauritius Holdings Ltd, and Vanguard Emerging Markets Select Stock Fund

The anchor book is that portion of an IPO which bankers allot to institutional investors on a discretionary basis. Anchor book subscription opens a day before the IPO launch and is an indicator of institutional investor interest.

Larsen and Toubro, India’s largest engineering and construction company, is selling up to 10.2% of its stake in its engineering, technology research and development company, giving a valuation of around Rs.8,800 crore.

This is the second IPO from the L&T stable this year.

In July, its IT unit L&T Infotech Ltd saw its Rs.1,243-crore IPO subscribed 11.69 times. The issue was priced at the upper end of the price band of Rs.705-710 per share

NBCC (India) moves higher after decent Q1 results

The result was announced after market hours yesterday, 14 September 2016.

Meanwhile, the S&P BSE Sensex was up 7.94 points or 0.03% at 28,380.17.

On BSE, so far 1.10 lakh shares were traded in the counter as against average daily volume of 2.38 lakh shares in the past one quarter. The stock hit a high of Rs 255.65 and a low of Rs 250.30 so far during the day. The stock had hit a 52-week high of Rs 267 on 13 July 2016. The stock had hit a 52-week low of Rs 162 on 12 February 2016. The stock had outperformed the market over the past one month till 14 September 2016, advancing 7.87% compared with 0.78% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 34.76% as against Sensexs 7.49% rise.

The large-cap company has equity capital of Rs 120 crore. Face value per share is Rs 2.

NBCC is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 30 June 2016).

Todays Market Nifty  8,726.60 (+11.00) (+0.13%)

Sensex  28,372.23 (+18.69) (+0.07%)

Coal India net profit down 15% in Q1

KOLKATA, SEP 13

Coal India Ltd (CIL) on Tuesday reported that its consolidated net profit dipped by 14.78 percent to Rs 3,065.26 crore in the quarter ended June 30, 2016 against Rs 3,596.92 crore in the corresponding quarter last year.

Its net sales for the quarter stood at Rs 17,796.05 crore, down 6.1 percent from Rs 18,955.75 crore in the year-ago period.

The state-run miner produced 125.67 million tonnes (mt) of coal in April-June quarter against a target of 132.43 mt, achieving 95 per cent of the production target for the quarter. However, its production grew by 3.5 percent in the period as compared to 121.35 mt produced in the corresponding period last year.

CIL's off-take stood at 133.24 mt in the quarter ended June against a target of 149.88 mt. Its off-take grew by only 2.9 percent in the quarter as compared to off-take of 129.39 mt in the year ago period.

In 2015-16, the miner produced 536.51 million tonnes of coal against a target of 550 million tonnes and its off-take stood at 532.26 million tonnes.

In its latest annual report, the CIL said it would invest Rs 7,765 crore as capital expenditure and Rs 5,069 crore in various other projects in 2016-17.

The company envisaged production of 908.10 million tonnes in 2019-20 with a Compound Annual Growth Rate of 12.98 per cent with respect to 2014-15

Todays Market Nifty  8,715.60 (-151.10) (-1.70%)

Sensex   28,353.54  (-443.71) (-1.54%)

Mahindra & Mahindra launches New Balero with mHawk D70 engine

Priced Rs 6.59 lakh onwards (ex-showroom Navi Mumbai)

Mahindra %26 Mahindra has unveiled the New Bolero with the mHawk D70 engine. This has been christened - The New Bolero Power+. The new Bolero is available in 3 variants - SLE, SLX and ZLX across Mahindra Dealerships pan India at an aggressive price of Rs 6.59 lakh

The Government assures that all resources are made available to the Port sector to achieve maximum growth of business.

Mumbai Port Trust needs to bring about administrative reforms to develop ability to compete with the private ports, said Minister of State for Shipping, Road Transport & Highways, Chemicals & Fertilizers, Shri Mansukh L. Mandaviya on an inspection visit to Mumbai Port Trust today. He further expressed a need for the port to have a clear vision and road map for development for next ten to twenty years and appealed to all the stakeholders to work in this direction.

The Minister held a meeting with the Deputy Chairman and the Heads of Departments and reviewed the functioning of the Mumbai Port in all its scope and ambit. While reviewing the existing and the future projects undertaken by the Port, the Minister assured that Government would ensure that all resources are made available to the sector to ensure maximum growth of business.

The Minister also visited the Cruise Terminal at BPX Mumbai Harbour and inspected the liquid cargo handling facilities at Jawahar Dweep and Pir Pau. He appreciated the facilities created at Second Chemical Berth, which provides handling capacity of 55000 DWT tankers and capacity to handle 2.5 MMTPA cargo. He was informed that the MPT facilities have provided a lot of advantages mainly to the Public Sector Oil Companies and eliminated the waiting time of oil tankers at Mumbai Port as also reduced the ships turn round time

Todays Market Nifty 8952.50 (+34.55) (+0.39%)

Sensex 29045.28 (+118.92) (+0.41%)

Just Dial drops on profit taking

The announcement was made during market hours today, 8 September 2016.

Meanwhile, the S&P BSE Sensex was up 129.98 points or 0.45% at 29,056.34.

On BSE, so far 7.41 lakh shares were traded in the counter as against average daily volume of 2.54 lakh shares in the past one quarter. The stock hit a high of Rs 515.25 and a low of Rs 491.65 so far during the day. The stock had hit a 52-week high of Rs 1,076.90 on 14 October 2015. The stock had hit a record low of Rs 377.65 on 12 February 2016. The stock had outperformed the market over the past one month till 7 September 2016, surging 8.96% compared with 3.02% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 22.33% as against Sensexs 7.1% rise.

The mid-cap company has equity capital of Rs 70.57 crore. Face value per share is Rs 10.

Shares of Just Dial had surged 6.38% in two trading sessions to settle at Rs 509.15 yesterday, 7 September 2016, from its close of Rs 478.60 on 2 September 2016.

Post approval from the Reserve Bank of India (RBI), Just Dial said it will be in a position for providing payment solution to its users, which is integral part of its transaction services and JD prepaid wallet will help to provide a seamless payment experience to users. The company needs to submit certain reports to RBI upto 5 March 2017 for final authorization.

Just Dials net profit rose 8% to Rs 38.93 crore on 6.2% growth in net sales to Rs 176.29 crore in Q1 June 2016 over Q1 June 2015.

Just Dial started offering local search services in 1996 under the Just Dial brand and is now the leading local search engine in India.

Todays Market Nifty   8,917.95 (-25.05) (-0.28%)

Sensex   28,926.36  (-55.66) (-0.18%)

Oil India Q1 net profit at Rs.494.4 crore

The company's total income has decreased from Rs.3164 crore for the quarter ended June 30, 2015 to Rs.2460.9 crore for the quarter ended June 30, 2016.

Oil  India Ltd. has announced the following Unaudited Standalone results for the quarter ended June 30, 2016:

The company has posted a net profit of Rs.494.4 crore for the quarter ended June 30, 2016 as compared to Rs.743.2 crore for the quarter ended June 30, 2015.

The company's total income has decreased from Rs.3164 crore for the quarter ended June 30, 2015 to Rs.2460.9 crore for the quarter ended June 30, 2016

Reliance Capital hits 52-week high

The announcement was made during market hours today, 6 September 2016.

Meanwhile, the S&P BSE Sensex was up 355.27 points or 1.25% at 28,887.38.

On BSE, so far 4.26 lakh shares were traded in the counter as against average daily volume of 4.89 lakh shares in the past one quarter. The stock hit a high of Rs 560.85 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 545.50 so far during the day. The stock had hit a 52-week low of Rs 303.60 on 12 February 2016. The stock had outperformed the market over the past one month till 2 September 2016, surging 25.11% compared with Sensexs 1.97% rise. The scrip had also outperformed the market in past one quarter, jumping 34.6% as against Sensexs 6.29% rise.

The large-cap company has equity capital of Rs 252.63 crore. Face value per share is Rs 10.

Reliance Capital announced completion of a fund raising exercise of Rs 2000 crore through private placement of secured redeemable non-convertible debentures (NCD) for a period of 5 years and 10 years respectively. The issue size offered was Rs 1000 crore ($150 million) with an option to retain oversubscription, by way of greenshoe option, of upto Rs 1000 crore. The issue was fully subscribed, including the greenshoe option, and will be listed on BSE. The secured redeemable NCDs offer an annual coupon rate of 8.9% for 5 years, and 9% for 10 years.

Sam Ghosh, ED and Group CEO of Reliance Capital said that the funds will be used to refinance the companys existing debt and also grow its lending businesses.

On a consolidated basis, Reliance Capitals net profit rose 3% to Rs 207 crore on 48.3% growth in total income to Rs 3663 crore in Q1 June 2016 over Q1 June 2015.

Reliance Capital, a part of the Reliance Group, is one of Indias leading private sector financial services companies.

Todays Market Nifty       8943.00 (+133.35) (+1.51%)

Sensex 28978.02 (+445.91) (+1.56%)
Kaveri Seed Company to hold board meeting
Kaveri Seed Company will hold a meeting of the Board of Directors of the Company on 14 September 2016, to consider amongst other items of Agenda the Un-Audited Financial Results of the Company for the First Quarter ended 30 June 2016 (Q1)
MindTree tumbles after weak outlook

The announcement was made after market hours on Friday, 2 September 2016.

Meanwhile, the BSE Sensex was up 404.93 points, or 1.42%, to 28,937.04.

On BSE, so far 2.53 lakh shares were traded in the counter, compared with average daily volume of 41,426 shares in the past one quarter. The stock hit a high of Rs 525 and a low of Rs 504.50 so far during the day. The stock hit a record high of Rs 803.50 on 4 March 2016. The stock hit a 52-week low of Rs 546.25 on 2 September 2016. The stock had underperformed the market over the past 30 days till 2 September 2016, sliding 8.88% compared with 2.95% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 15.28% as against Sensexs 6.29% rise.

The large-cap company has equity capital of Rs 167.94 crore. Face value per share is Rs 10.

MindTree said the decline in revenue is expected due to cross-currency movements, project cancellations and slower ramp-ups in a few large clients across different verticals and continued weakness in its UK-based subsidiary Bluefin.

Margins are going to be lower than planned with a decline in earnings before interest, taxes, depreciation and amortization (EBITDA) margins in Q2 September 2016 compared to Q1 June 2016. In light of its weak revenue outlook, the Bluefin business is expected to report an EBITDA loss for the quarter. MindTree has implemented a range of operational efficiency improvements and cost control measures. The savings derived from these initiatives may not be sufficient to offset the revenue slowdown in Q2 September 2016.

The company said it believes its business fundamentals, strategic direction and market positioning continue to look strong in the medium-term especially with its investments in Digital and Managed Services. Business pipeline from its core services and Magnet 360 is amongst the strongest in the last few years. The company said it is well-placed to win some of these opportunities, including some large ones to be awarded over the next few months. The uncertainties in the Bluefin business are likely to continue for a few more months giventhe volatile macroeconomic environment in Europe. The slower revenue momentum in the first half (H1) of the financial yar ending March 2017 (FY 2017) will delay the aspiration to grow EBITDA margins over the financial yar ended March 2016. The cost saving measures and other related initiatives will help the company deliver a higher margin in the second half (H2) of FY 2017 over H1 FY 2017. Even with this change in outlook, the company said it continues to expect its annual revenue growth to be higher than the NASSCOM industry average.

MindTrees consolidated net profit declined 7.2% to Rs 123.50 crore on 0.6% growth in revenue to Rs 1327.60 crore in Q1 June 2016 over Q4 March 2016.

MindTree is a global information technology consulting firm specializing in corporate IT services and solutions.