After a strong rally, stock market experts are beginning to turn sceptical about mid- and small-cap companies, and the quarterly results so far haven’t been reassuring. “Even before the second quarter results, there were worries that these segments were too expensive. And, the results that have come so far aren’t inspiring. I expect there will be a number of downgrades in this segment,” says a market participant. And, if there are downgrades, there will be correction as well. Some players are expecting some action after Diwali.
Joydeep Ghosh
Exchanges sound alert on stock tips
Stock exchanges are doing their bit to alert investors against dubious stock tips. A few days ahead of Diwali, the BSE put out an advertisement in a business daily, warning investors to exercise caution with respect to tips put out through SMS, WhatsApp, blogs and other social media. The exchange noted that such activity had increased in the run-up to the festive season and asked trading members and investors to share their knowledge of potential frauds or unethical behaviour through an anonymous portal facility provided by the exchange.
Ashley Coutinho
Two members shortlisted for Sebi position
The search committee for selecting a whole-time board member at the Securities and Exchange Board of India (Sebi) seems to have narrowed down its shortlist to two candidates — Rajeev Agarwal and Manas Shankar Ray. Agarwal, whose tenure as whole-time director at Sebi will end on Wednesday, is seen as a frontrunner, as he has handled various important cases like the National Spot Exchange scandal. Ray, the present director-general at income-tax, is also an old Sebi hand, where he was an executive director between 2003 and 2009. The final appointment will be made based on the recommendation of the Financial Sector Regulatory Appointment Search Committee. The panel is also free to identify and recommend any other person, on the basis of merit, who had not applied for the post.
Shrimi Choudhary
