The market sell-off has already captured a lot of bad news in the price. Businesses now trade at book value (BV) or significantly lower, which limits their downside
Over the past few weeks, Covid-19 hit, stimulus buoyed markets world over have risen close to a 'bull phase', typically defined as a rise of 20 per cent or more from the recent lows
The sharp rise, according to the WGC, was triggered by a flight to safety amid the coronavirus (Covid-19) pandemic that hit world economy hard, and plunged most global equity markets into a bear phase
The move comes in the wake of rising redemption pressure, lack of activity in the bond market and fears of non-payment of dues by corporate houses
Sebi is likely to allow corporate houses to treat unlisted non-convertible debentures as 'term loans'.
In a report, Credit Suisse pegs decline at 50-95% YoY
Growth in the segment, which accounts for over 80 per cent of the consolidated sales, was robust in January and February, thus leading to a 16.5 per cent growth in revenues.
Rising telecom revenues to partly compensate for muted show of refining, retail & petrochemicals
Amidst growth concerns in other sectors, better earning visibility and cash surplus position provide comfort
It feels as though this is going to go on for a fair old time, he said
Among sectors, stocks of banks, cement, chemicals, engineering, agro chemicals, automobiles, fast moving consumer goods (FMCG), sugar, aviation have seen increase in delivery-based trades.
Domestic stimulus hopes, oil talks lift sentiment
Fiscally sound governments will be able to pump money into their companies unhindered by state-aid rules
On a weekly basis, both Sensex and Nifty added around 13 per cent
All that happened in the markets today.
The management said the company is working out its strategy to manage this crisis with particular focus on ensuring adequate liquidity is available till normalcy returns.
The stock was trading close to its 52-week high of Rs 480, touched on April 10, 2019
M&M, Maruti Suzuki India, Bajaj Auto, Hero MotoCorp, Tata Motors and Motherson Sumi Systems from the Nifty Auto index were up in the range of 8 per cent to 11 per cent.
The Jefferies report said that within the Nifty 100 several PSUs such as State Bank of India, GAIL, ONGC, NTPC, Bank of Baroda, Punjab National Bank & Power Finance Corporation slipped below GFC lows.
Cipla may see profit-booking around Rs 360 to Rs 367 levels, as per the weekly chart.