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 By:  Prashant Mukherjee Assistant Editor - Energy, ET Prime The Nifty 50 hit a lifetime high at 13,150 levels this week, but for investors in shares of governmentowned public-sector banks, it has been a huge disappointment. Even a mere expectation of positive returns looks like a distant dream. State-owned bank stocks have been leading the list of laggards and gross under-performers in the recent equity-market rally, plagued by a slew of corporategovernance issues and ballooning bad loans. The NSE Nifty PSU Bank Index has lost nearly 49.71% in the past one year, making it the worst-performing sectoral gauge among the 11 compiled by the bourse. While the slump in public-sector banks has been well-documented, the question remains: Is the worst over and can we see shadows of green shoots now? PSU-inde performance The Nifty PSU Bank Index captures the performance of all public-sector banks traded at the bourses. It comprises 12 companies, of which State Bank of India (SBI), weigh...

By: Priyanka Salve ET Prime Oxygen cylinders have saved more lives in the last six months than they ever did in the last many years. Thanks to Covid-19, which aects a patient’s respiratory system, oxygen cylinders were in high demand. While the virus broke the back of the economy of the biggest countries, investors were looking for pharma stocks and other allied industries which could benet from the pandemic. A top draw was the oxygen-cylinder industry, in which Linde India was a major listed manufacturer. Naturally, its stock price was on re. Mutual funds and retail investors got excited, except that the only problem was that medical cylinders are just a small part of Linde's business. The company did run the business at full capacity, yet the growth in prots was limited, as its main business is industrial cylinders. Will the company now invest more in oxygen cylinders to ride the boom? Unlikely. So, what happens when Covid-19 vaccines get released? Will the demand for these cylin...

 Hindustan Times September 24, 2020 The yield on India’s benchmark 10-year bonds fell by two basis points to 5.99% Indian stocks fell for a fifth straight day, with the country’s benchmark suffering its longest string of losses in six months. The S&P BSE Sensex dropped 0.2% to 37,668.42 in Mumbai, erasing an earlier gain of as much as 1%. The NSE Nifty 50 Index also lost 0.2%. A measure of telecommunication shares sank 7.4%, its biggest fall since March. “We see the offering having potential to drive at least some churn from incumbents,” said Bhupendra Tiwary, an analyst at Mumbai-based ICICI Securities Ltd. Both the Sensex and Nifty are headed for their longest string of losses since March 2. Until this week’s declines, the measures had climbed by about 50% from coronavirus-triggered losses later that month. Cases of the infection have since surged to the second-highest in the world, and continue to climb. “We have a large negative trigger at the back of our minds in terms of ...

Financial Express July 21, 2020 RIL share price tops Rs 2,000-mark for the first time, rallies 132% from March lows In a recent update, oil to telecom conglomerate informed the exchange that the company will be announcing its April-June quarter results on July 30, instead of on Friday, July 24, 2020, as intimated earlier RIL share price tops Rs 2,000-mark for the first time, rallies 132% from March lows Reliance Industries (RIL) share price climbed up nearly 2 per cent to hit a fresh record high of Rs 2,010 apiece on BSE, taking the market capitalisation of the firm to Rs 12.71 lakh crore. RIL stock price has surpassed Rs 2,000-mark for the first time since listing. In a recent update, oil to telecom conglomerate informed the exchange that the company will be announcing its April-June quarter results on July 30, instead of on Friday, July 24, 2020, as intimated earlier. “The completion of targeted net debt-free status and evolution of company’s Jio business into ...

Hindustan Times July 07, 2020 Jayshree P Upadhyay The Securities Appellate Tribunal (SAT) in an order ruled that Securities and Exchange Board of India (SEBI) has powers to enhance penalties or levy higher penalty than originally imposed. The Tribunal was hearing a petition filed by ICRA Ltd against a second showcause notice issued by SEBI on 28 January where the regulator sought to increase the monetary penalty against the credit rating agency. ICRA in its plea at SAT had sought to stay these proceedings. Under Section 15-I (3) of SEBI Act, the watchdog had issued fresh notices after the board of it felt that ₹25 lakh of penalty imposed on December 26 on three rating agencies were inadeqaute. SAT in its order last week ruled that SEBI has powers to relook at its penalty orders. https://www.hindustantimes.com/business-news/sat-permits-sebi-to-levy-higher-penalties-on-icra-ltd/story-qFFhYiit37BmlSlVvl8cHO.html

The Firstpost June 20, 2020 Posted by By Chuck Mikolajczak The U.S. healthcare sector looks set for a bulked up profile in growth indexes when FTSE Russell reconstitutes its stock indexes late next Friday, an annual event that historically creates one of the biggest trading volume days of the year. The Russell rebalance becomes final on the fourth Friday every June, after markets close. Stocks are added or deleted from Russell's family of indexes, including the Russell 1000 large cap and Russell 2000 small cap, prompting fund managers to adjust portfolios to reflect new weightings and components. Russell bases the placesment in the indexes on a number of factors, including market capitalization, voting rights requirements and country of domicile. Telegraphing the reconstitution can create additional buying and selling stocks. Some investors may use the additional liquidity to take advantage of any resulting price dislocations, or to adjust the holdings in...

The Mint June 21, 2020 Posted by  Clifford Alvares Most of the small and mid-caps are showing the huge impact of the pandemic on their scrawny figures as the coming two quarters will be washouts Investors should be circumspect on some of companies where cashflows are low For the stock markets, next week will mark the expiry of the June series derivative contracts. The expiry will provide how much of the sentiment will stay on the positive side after reopening the economy. Stocks are building some momentum on the upside as investors have started to look at how much earnings can be recovered. One can see that the clash at the at the Indo-China border was quickly put behind. The grim economic news coming from the US is also now on the backburner. But then sentiments may be running a bit ahead of the economic reality. The run-up in the small and mid-cap stocks are a case in the point. The the BSE Small Cap index gained about 3.7% compared to the 2.8% gains of th...

The Print February 28, 2020 Sensex plunges over 1100 points as coronavirus fears spark global selloff Domestic investor wealth plummeted by nearly Rs 5 lakh crore on Friday as equity markets crashed tracking global equity selloff amid rising uncertainty over the economic impact of coronavirus outbreak. Market capitalisation (m-cap) of BSE-listed companies saw a massive decline after the 30-share index sank 1,100.27 points, or 2.77 per cent, to 38,645.39, and the NSE Nifty cracked 329.50 points, or 2.83 per cent, to 11,303.80. The carnage in the equity market wiped out investor wealth worth Rs 4,65,915.58 crore, taking the total m-cap to Rs 1,47,74,108.50 crore on the BSE. The m-cap of BSE-listed companies stood at Rs 1,52,40,024.08 crore at the end of trading on Thursday. All Sensex components were trading in the red, led by losses in Tata Steel, Tech Mahindra, Infosys, Mahindra and Mahindra, Bajaj Finance, HCL Tech and Reliance Industries. Traders sa...

Business Standard February 28, 2020 SBI Cards IPO: Why analysts suggest subscribing despite rich valuation SBI Cards and Payments Services (SBI Cards) will open its four-day initial public offer (IPO) on March 2. With a price band of Rs 750-755, the issue seeks to garner Rs 10,341 crore at the upper-end, making it India’s fourth-largest IPO – falling behind Coal India, Reliance Power, and GIC Reinsurance. The offer comprises a fresh issue worth Rs 500 crore and an offer for sale (OFS) of up to 130,526,798 equity shares. A major chunk of the IPO will be a secondary share sale by parent State Bank of India (SBI) and private equity (PE) major Carlyle. The largest public sector bank will offload a 4 per cent stake, while Carlyle will sell a 10 per cent stake. After the issue, SBI’s stake will drop from 74 per cent at present to 70 per cent, while Carlyle will see its holding come down from 26 per cent to 16 per cent. The bid lot for the offer has been finalised as 19...

Suresh P Iyengar  Mumbai, Updated on January 28, 2020 Categorises commodities based on their realised volatility SEBI has further tightened norms for commodity futures trading by categorising commodities based on its volatility and imposing identical margins across exchanges. Due to wide variation in liquidity and volatility among different commodity derivatives, SEBI has categorised commodities as per their realised volatility and has prescribed floor values of initial margin and IMPOR (initial margin period of risk) depending upon their categories. Clearing Corporation of the particular exchange will be entirely responsible for addressing risk and fixing the margins. Sanjit Prasad, Managing Director, ICEX, said the risk management tools of securities markets cannot be superimposed on commodity derivatives market in totality. The latest SEBI addresses the challenges of risk emerging from the underlying commodities market, he added. Commodity with realised a...