Technical view | The Nifty is still below the 11,350 level, which means that it is still within the bearish zone. It will turn bullish only when it succeeds in closing above 11,350 levels. Until then, traders could consider a favorable risk-reward trade and look for opportunities to short the index at these levels for a target of 10,800 and a stop loss above 11,350, he says. Manish Hathiramani, Technical Analyst and Owner Index Trader, Deen Dayal Investments.
Solid returns – this pharmaceutical stock turned from Rs 1 lakh to Rs 1.85 crore in 10 years
Caplin Points Labs has had a strong long-term performance, delivering strong and steadily increasing performance over the past 10 years. Pharmaceutical stocks that traded around Rs 3 in 2010 have risen more than 18,400 percent to trade at Rs 556 currently. To put it in perspective, a Rs 1 lakh investment in the stock in 2010 would now be valued at Rs 1.85 crore currently.
Also in the last year, stocks have risen 35 percent and 95 percent in 2020 amid a general surge in pharmaceutical stocks due to the coronavirus pandemic. By comparison, the benchmark Nifty index fell 2.5 percent over the past year and is down 8 percent since the beginning of this year. read more
The market opens lower, Nifty around 11,200; banks slip, IndusInd Bank is the loser
Benchmark indices of Indian stocks were flat Wednesday as gains in pharmaceutical and consumer goods stocks were offset by the sale of financial stocks amid mixed global signals.
At 9:15 am, the Sensex opened 0.25 percent, or 95.67 points, higher at 38,068.89, while the Nifty50 index opened at 11,244.45, up 22.05 points, or 0.20. percent.
The broader markets won with Nifty Smallcap100 and Nifty Midcap100 trading 0.2 and 0.3 percent higher, respectively.
Among industry indices, Nifty PSU Bank, Nifty Financial Services, Nifty Metal and Nifty Private Bank declined, while Nifty FMCG, Nifty Pharma, Nifty Auto and Nifty Media were all green.
Before the opening bell, it is important to know 10 things that could affect the Indian market today. Click here to read!
US Market: Stock futures turn negative amid news about virus treatment and US presidential election.
US stock futures were unchanged Tuesday night as traders assimilated positive data on a possible coronavirus treatment from Regeneron Pharmaceuticals, as well as the first US presidential debate.
Dow Jones industrial average futures fell 7 points, or 0.03 percent, after jumping more than 150 points earlier. S&P 500 and Nasdaq 100 futures also saw little change.
Futures rose slightly during the debate, but quickly gave up most of that ground once the debate ended. It was unclear if the twists were related to the controversial comments exchanged by the candidates. Traders hope that the start of the debating process will lead to a clear winner on Election Day and not a lengthy electoral process that could affect the market. (Source: CNBC International)
General Atlantic to invest Rs 3,675 crore in Reliance Retail
US private equity firm General Atlantic will invest Rs 3,675 crore in Reliance Retail Ventures for a 0.84 percent stake, the third strategic investment in Reliance Industries Ltd (RIL) retail unit, within a month.
Reliance Retail Venture’s subsidiary, Reliance Retail, operates the largest retail business in India, serving nearly 640 million footfalls in its 12,000-odd
stores nationwide in 7000 cities.
The investment values Reliance Retail at a pre-money capital value of Rs 4.28 lakh crore, slightly higher than the previous two trades conducted at a valuation of Rs 4.21 lakh crore. read more
Likhitha Infrastructure IPO: Fully Subscribed Issue on Day 1
Likhitha Infrastructure’s initial public offering has been fully subscribed on the first day of the bidding process, on September 29.
The IPO of Likhitha Infrastructure, the Hyderabad-based oil and gas pipeline infrastructure service provider, has received offers for 51.35 lakh of equity shares versus the offering size of 51 lakh of equity shares, according to the data. available in bags.
The portion reserved for retail investors was subscribed 2.5 times, while the portion reserved for qualified institutional buyers was subscribed 1.8 percent. The non-institutional share of investors has received a subscription of 84.95 percent so far.
The price band for the issue, which will close on October 1, has been set at Rs 117-120 per share. There’s more here
This is what you can expect from Vodafone-Idea AGM today!
Shares of the indebted telecom operator Vodafone Idea Ltd (VIL) were under pressure in trading on Tuesday ahead of the annual general meeting (AGM) scheduled for September 30.
The company had said that it will seek shareholder approval to increase the borrowing limit to Rs 1 lakh crore, at the AGM. Shareholders of the company, previously listed as Idea Cellular, had approved a borrowing limit of Rs 25 billion at the AGM in September 2014.
In a regulatory filing, VIL said that since the resolution passed by the company in September 2014 did not specify the securities premium, a necessary amendment is required to include the securities premium in the lending powers. Watch Reema Tendulkar talk about the AGM
Welcome to our market blog!
I am Mousumi Paul and I will bring all the updates from the stock market, business world and the economy. To start with, let’s see how the markets fared yesterday.
Indian indices ended flat on Tuesday as gains in the IT, auto and metals indices were limited by losses in banks and consumer goods stocks. Meanwhile, the drop in global pairs also weighed on sentiment, as investors awaited the first US presidential debate and watched the progress of a fiscal stimulus package in Washington. The Sensex finished 8 points lower at 37,973 while the Nifty fell 5 points to 11,222. The broader markets also turned negative with the Nifty Midcap and Nifty Smallcap indices falling around 0.1 percent and 0.3 percent, respectively.
