Page 86 - Market News
Page Industries: Muted earnings visibility, high valuation hurt sentiment
Muted earnings visibility is a key reason for the stock's decline
 "Page Industries: Muted earnings visibility, high valuation hurt sentiment")
Allcargo shares shed nearly 4% as delisting floor price disappoints
The company on Saturday announced that its promoters have set the floor price at Rs 92.58, which is 19% lower than the firm's last closing price of Rs 114.5 on Monday
 "Allcargo shares shed nearly 4% as delisting floor price disappoints")
Investor wealth declines by Rs 2.36 trn as domestic markets close in red
The 30-share BSE Sensex tanked 633.76 points or 1.63 per cent to close at 38,357.18. During the day, it tumbled 741.17 points to 38,249.77
 "Investor wealth declines by Rs 2.36 trn as domestic markets close in red")
Brokerages likely to tap into clients' appetite for overseas trading
At least three major brokerages are looking at making such offerings available to their clients
 "Brokerages likely to tap into clients' appetite for overseas trading")
Vedanta: Delisting price may be significantly higher, say analysts
Improving fundamentals suggest promoters of the base metals major may need to pay more; reverse book-building holds key for price discovery
 "Vedanta: Delisting price may be significantly higher, say analysts")
Gold prices decline Rs 614 to Rs 52,314/10 gm, silver tanks Rs 1,799
Gold prices in the national capital declined Rs 614 to Rs 52,314 per 10 gram on Wednesday tracking weakness in the international market, according to HDFC Securities. In the previous trade, gold had closed at Rs 52,928 per 10 gram. Silver also tanked Rs 1,799 to Rs 71,202 per kg from its previous close of Rs 73,001 per kg. "Spot gold prices for 24 karat in Delhi were down Rs 614 with a decline in international prices," HDFC Securities Senior Analyst (Commodities) Tapan Patel said. In the international market, gold was quoting down at USD 1,963 per ounce and silver at USD 27.87 an ounce. "Gold prices pared previous gains as investors switched to riskier assets after the US and China showed recovery in manufacturing activities," he added. Reliance Securities Senior Research Analyst Sriram Iyer said, "Domestic prices witnessed a correction in Wednesday afternoon trade tracking the overseas prices.
 "Gold prices decline Rs 614 to Rs 52,314/10 gm, silver tanks Rs 1,799")
Market may be due for both price and time-wise corrections: Jigar Shah
The current rally has an implied assumption that interest rates will remain permanently negative and inflation 'pick up, but this is quite unlikely
 "Market may be due for both price and time-wise corrections: Jigar Shah")
Mobile-based trading jumps amid lockdown, makes up 25% of cash market deals
Experts say spike can be attributed to limited availability of dealing room staff
 "Mobile-based trading jumps amid lockdown, makes up 25% of cash market deals")
One month on, Sebi's one-time settlement scheme remains doubtful starter
High settlement amount and prosecution from other probe agencies draws little interest
 "One month on, Sebi's one-time settlement scheme remains doubtful starter")
Societe Generale sells ICICI Bank shares worth nearly Rs 341 crore
As per the block deal data on the BSE, 9 million scrips of the private lender were sold by Societe Generale at a price of Rs 378.6 per scrip
 "Societe Generale sells ICICI Bank shares worth nearly Rs 341 crore")
Commodity picks: 24 August, 2020
Wheat prices is expected to trade lower towards Rs 1,850 per quintal following record stocks across the value chain and lethargic buying in the open market
 "Commodity picks: 24 August, 2020")
KKR India sells CG Power shares worth Rs 30 cr through open market ops
KKR India Financial Services sold 96,10,588 shares of the company at an average price of Rs 16.85 apiece on the NSE, as per the bulk deal data
 "KKR India sells CG Power shares worth Rs 30 cr through open market ops")
Max Healthcare gains on stock market debut, hits 5% upper limit
At close, the company is valued at Rs 10,108 crore; firm has been created following demerger of Max India's hospital business and subsequent merger of Radiant Life Care
 "Max Healthcare gains on stock market debut, hits 5% upper limit")
Auto stocks see sharp recovery, index gains over 70% after falling in March
Domestic institutional investors have raised their weights to the sector
 "Auto stocks see sharp recovery, index gains over 70% after falling in March")
HSBC India comes up with green deposit programme for corporate clients
Under the scheme, deposits will be used to finance environment friendly projects
 "HSBC India comes up with green deposit programme for corporate clients")
Street shrugs off likely credit cost pain for Cholamandalam Investment
While the management believes it has made adequate Covid-19 provisioning, analysts are skeptical
 "Street shrugs off likely credit cost pain for Cholamandalam Investment")
Despite a struggling economy, what is drawing people to the stock markets?
The share of non-institutional investors in trading volumes surged to 72 per cent in July; we look at the reasons behind this
 "Despite a struggling economy, what is drawing people to the stock markets?")
Fund managers will have to rethink investment ideas, says K V Kamath
Veteran banker said corporates might need re-structuring of their balance-sheets
 "Fund managers will have to rethink investment ideas, says K V Kamath")
Fund pick: Invesco India Mid Cap is a consistent mid-cap outperformer
The investment objective of the scheme is to generate capital appreciation by investing predominantly in mid-cap companies
 "Fund pick: Invesco India Mid Cap is a consistent mid-cap outperformer")
MCX to launch India's first bullion index, Bulldex, on August 24
The bourse recently launched options on goods in 100-gm goldmini contract
 "MCX to launch India's first bullion index, Bulldex, on August 24")