StockMarket

By DK Aggarwal DK-snip-100

Indian paint industry, which is largely dominated by organised players, has been witnessing steady growth in volume this year on a low base, owing to double-digit growth in the decorative segment.

A reduction in GST rates from 28 per cent to 18 per cent, too, has helped the industry gain traction from small consumers. With a rise in

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By Anupam NagarNEW DELHI: It has not been the best of rides for Indian auto companies in recent months. While growth remains by and large healthy for commercial vehicle makers, demand for passenger vehicles has hit a major bump due to an increase in fuel costs and insurance cost, rise in interest rates and the seasonality effect of a delayed
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Popular beaten-down stocks attracted big money from institutional investors on Dalal Street in October, when the domestic equity market was facing severe pressure due to rising crude oil prices, a depreciating rupee and uncertainty in the credit market following a default by IL-FS.

For instance, domestic mutual fund houses added some 7.67

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Mr Market was largely directionless and indecisive during the week gone by, as it whipsawed its way awaiting triggers from local and global markets. Global macro-economic factors seem to have become stable now and they are offering a ray of hope post the gloomy October. Concerns over exorbitant oil prices have since died down, with crude tanking
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Data from Association of Mutual Funds in India shows unabated fund flow through Systematic Investment Plans (SIPs) month after month unaffected by high volatility on the bourses. This underlines the fact that in many ways the Indian retail investor has come of age and is ready to understand long-term investing discipline.

With growth of low-cost

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Let the direct plan expense ratio settle
The mutual fund industry is going through another phase of upheavals and the latest was triggered by market regulator Sebi’s attempt to bring in transparency in mutual fund expense ratios. Two factors forced Sebi to crack the whip.

First, the asset management companies’ (AMC’s) practice of using money collected from direct plans to pay commission

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Satin Creditfund cost up by 75 bps
By-Ashwin Manikandan

Mumbai: Microfinance company Satin Creditcare Network (SCNL) said its borrowing cost has risen by 75 basis points, or 0.75 percentage points, following the liquidity crisis that plagued non-banking finance companies (NBFCs) over the last couple of months.

Satin Creditcare chairman HP Singh said there was no major impact on

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Italian stocks lead Europe in recovery driven by banks, technology
LONDON: European shares climbed modestly at the end of a volatile week, with banks and technology stocks, which have been hit hard by growth worries, leading the way, while Italian stocks rallied as bond yields fell.

The pan-European STOXX 600 managed a 0.2 per cent gain by 0830 GMT, while Italy's FTSE MIB outperformed with a 0.8 percent rise.

Ital

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Uncertainty over Brexit recedes, sterling up 1%
LONDON: The pound jumped as a draft accord between the UK and European Union backed a freetrade pact and close cooperation after Brexit.

Sterling gained more than 1 per cent to a one-week high after the declaration removed some uncertainty about the relationship after the UK leaves the bloc, its largest trading partner. The statement on futures

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Mumbai: The recent bull run in technology shares may have ended abruptly as a reversal in the fall in the rupee against the US dollar has dimmed the prospects of the sector. The BSE IT index has declined 16 per cent since October 1, when it hit its all-time high level of 16087.82 “IT stocks had been over-owned and rupee’s fall from 74 to 71has led
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Buy Ipca Laboratories, target Rs 915: Nomura
Nomura has a buy call on Ipca Laboratories with a target price of Rs 915.

The current market price of Ipca Laboratories is Rs 787.45.

Time period given by the financial services firm is one year when Ipca Laboratories price can reach the defined target.

Investment rationale by Nomura:We remain constructive on IPCA despite its relative

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EM carry trade returns set for best month since January
NEW YORK: Traders who braved the rout in emerging markets in search of higher returns are suddenly reaping the rewards.

A Bloomberg currency index that measures carrytrade returns from eight emerging markets funded by short positions in the dollar has gained 3.2 per cent in November so far. If it stays that way, it will be the best month since

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With the results season coming to an end, stock analysts are busy changing their recommendations and revising their stock target prices. Out of 230 widely-covered companies, 77 beat analysts' estimates, 88 missed estimates while 64 were in-line with the targets. Since the beginning of FY19, earnings downgrades have limited Nifty's one-year forward
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By Srinivasan Sivabalan

Prime Minister Narendra Modi has Donald Trump and the oil market to thank for the Indian rupee’s best weekly run since March 2016.

The currency extended a seven-day winning streak to push beyond its 100-day moving average for the first time since February, as falling crude prices soften inflationary expectations and take

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RBI-Government relations: Games people play
January 12, 2005, is a day to forget in the history of Reserve Bank of India Governor–Finance Minister relationship. A call from Governor’s office late in evening to some reporters suggested he would make a statement, barely two hours after a thought-provoking speech.

A few minutes after reporters assembled, the Governor walked in with a piece of

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Wall Street pulled lower by oil slump
New York: US stocks fell on Friday as oil prices plunged to their lowest in more than a year, dragging down energy shares, while US-China trade talks at the G20 summit next week kept investors on edge in a truncated trading session.

At 22.45 IST the Dow Jones Industrial Average was down 123 points, or 0.51 per cent, at 24,340.70, the S-P 500

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By Eric LamThe great cryptocurrency crash of 2018 is heading for its worst week yet.

Bitcoin sank toward $4,000 and most of its peers tumbled on Friday, extending the Bloomberg Galaxy Crypto Index’s weekly decline to 25 per cent. That’s the worst five-day stretch since crypto-mania peaked in early January.

-1x-1After an epic rally last year that

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Bank of Japan is not undertaking Fed-like tapering, says Governor
TOKYO: Bank of Japan Governor Haruhiko Kuroda said a slowdown in the central bank’s bond buying is different in nature from the US Federal Reserve’s tapering of asset purchases, signalling that Japan is nowhere near an exit from ultraloose monetary policy.

But Kuroda also said the BOJ would need to shrink the size of its balance sheet once

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Kolkata: The composition of the Board for Financial Supervision (BFS) could emerge as yet another point of conflict between the government and the Reserve Bank of India (RBI) after both sides stepped back from outright confrontation at a meeting of the regulator’s central board on November 19.

The finance ministry is of the view that BFS needs to

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Australia shares close higher on banks, energy; NZ flat
Australian shares extended gains in thin trade on Friday, fuelled by banks and energy stocks as the index continued to rise after falling to and bouncing back from an important support level earlier this week.

While broader Asian shares slipped amid worries over cooling global growth and trade tensions, the benchmark S-P/ASX 200 index climbed

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China traders paying double for PICC shares after IPO surge
SHANGHAI: People’s Insurance Company (Group) of China Ltd. has rallied so much since its debut in Shanghai last week that its stock costs more than twice as much as it does in Hong Kong.

China’s largest property insurer has surged by the daily limit every day since its initial public offering to trade at 7.04 yuan per share on the mainland on T

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Oil India to buy back 4.45% shares for Rs 1,085 crore
New Delhi: State-owned Oil India Ltd will buy back 5.04 crore of its shares for a little over Rs 1,085 crore as part of the government's push to cash-rich PSUs to part with their surplus either by paying higher dividends or through share buybacks so as to help meet revenue targets.

In a regulatory filing, OIL said its board has approved buyback of

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NEW DELHI: The income tax department has disposed of most of the 18 crore shares of Cairns PLC in Vedanta worth around Rs 5,500 crore, with only 25 lakh shares remaining to be disposed of against the department’s demand of over Rs 10,000 crore in capital gains tax from the UK oil major.

On January 25, 2016, the income tax department had passed an

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Stocks slip in Europe, Asia; pound jumps on Brexit deal
LONDON: Global stock markets mostly fell Thursday as concerns about economic growth continued to weigh on sentiment and trading was thinned by the US Thanksgiving holiday.

In Europe, Germany’s DAX index dropped 0.9 per cent to close at 11,138.49 and the CAC 40 in France shed 0.8 per cent to 4,938.14. Britain’s FTSE 100 index lost 1.3 per cent to 6,

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CPSE ETF 4th tranche to open on November 28
New Delhi: Leading stock exchange BSE has said subscriptions for the fourth tranche of CPSE ETFs will commence from next week on its Internet-based book building system (iBBS) platform, an online mechanism for investment.

"The subscription CPSE ETF FFO-3 will commence from Wednesday, November 28, till Friday November 30, on BiMF (BSE iBBS Platform

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Cochin Shipyard buyback offer to open on November 28
NEW DELHI: State-owned shipbuilder Cochin Shipyard Friday said its up to Rs 200 crore share buyback offer will open next week on November 28.

Cochin Shipyard Ltd (CSL) informed about the "Letter of Offer" to buyback 43.95 lakh equity shares constituting 3.23 per cent stake of the company in a regulatory filing.

The buyback offer will close on

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MUMBAI: The lurking fear that non-banking finance companies (NBFCs) and housing finance firms could run into trouble continues to linger, despite shadow banks averting a default in November.

On Thursday, capital markets regulator Sebi met the top four credit ratings agencies to discuss their assessment of liquidity of NBFCs that have borrowed

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RBI likely to maintain status quo in next policy meet
The Reserve Bank of India is expected to keep the key policy rates unchanged at its ensuing policy review meet next month, amid easing global crude oil prices and robust agriculture production, says a report.

According to Dun - Bradstreet Economy forecast, the robust agriculture production and softening of vegetables and fruits prices will

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Goldman Sachs Asset Management says the volatility saturating global stock markets this year isn’t unusual and provides a window to buy selective emerging-market assets.

“This is the return to normality,” James Ashley, head of international market strategy, said at a briefing in Singapore. “We think emerging markets are being oversold. We would see

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Next credit crisis will hit consumers hardest
BY AARON BROWN

The National Bureau of Economic Research lists 29 credit contractions in the last 145 years, which works out to one every five years. We’ve now gone more than 11 years since the one started in 2007, the longest run in recorded history. But credit is a lot like a forest. Trees grow before eventually becoming old and littering the g

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