Tag: Stock

ET Intelligence Group: In the past one month, the ET Construction Index has fallen 8.5% while the benchmark index Nifty 50 index has gained 1.15%. The ET Construction Index has underperformed the Nifty 50 index in the past three and six months also. So, could there be triggers which can generate investor interest in construction stocks in the coming months? Analysts point out two fundamental triggers. One, in the third quarter of this financial year, state governments will start awarding incremental projects. This should boost construction companies’ order book. This incremental awarding will come after the National Highways Authority of India (NHAI) awarded road projects for 744 km more contracts in April-August period than 516 km on average in the corresponding period of the previous t...

Inflation is often considered as an economic villain. By definition, inflation refers to the general rise in the price level in an economy. An increase in inflation leads to a fall in the purchasing power of a currency as the commodities and prices gets dearer. In simple words, we would be able to purchase only fewer items for the same money. The impact would be far greater when rising inflation is accompanied with a stagnant output. In such a scenario, the economy would be facing the situation of ‘stagflation’. In the mid-1970s, the oil price shock had pushed many economies into stagflation. Stagflation is a very risky affair, as there is no consensus on the policy mix needed to deal with the situation. For instance, on the wake of a falling aggregate output, the immediate policy respo...

By Michael P. Regan and Felice MaranzWhile many investors are zeroing in on the US presidential election in November, a trickier political equation could be even more important in determining winners and losers in markets: which party controls the Senate. Many political analysts at this point expect the Democratic Party to remain the majority in the House of Representatives regardless of who wins the presidential race. Control of the Senate is harder to predict. Of the 100 seats, 35 are up for election this year and Republicans will be defending 23 of them -- with their three-seat majority in the balance. A Senate majority likely brings the power to block or advance the next president’s agenda, making it the “ultimate policy arbiter of 2021,” as Cowen & Co. analyst Chris Krueger puts ...

The week gone by remained largely uneventful for the markets, as they traded in a narrow range and consolidated. The trading range remained narrow compared with that in the previous weeks. Nifty moved in a band of just 235-odd points, while showing lack of conviction on either direction. The buoyancy was questioned many times at higher levels, but at the same time, Nifty showed resilience as there were weakness on the global landscape. Nifty did make a higher top and a higher bottom during the week, but ended on a flat note. The headline index ended with a net gain of 40.50 points, or 0.35 per cent, on a weekly basis. The week gone by did not see any major directional move on the either side. This ensured that Nifty remains above its crucial support zone at the 50-week and 100-week movi...

Shares of Unity Software Inc soared in their debut on the New York Stock Exchange on Friday, giving the gaming platform a market value of around $18 billion and signaling sustained demand for new stocks. The Silicon Valley startup's stock, which debuted on the New York Stock Exchange at $75 per share, closed at $68.35, well above the $52 per share in its initial public offering on Thursday. "Going public is good for discipline. We can also compensate our employees with more transparency," said Unity Chief Executive John Riccitiello. "We picked the date earlier this year, and we never expected it's going to be a hot IPO market." Unlike most companies that require employees to hold onto the stock for a lockup period following the public debut, Unity allows employees to sell 15% of their ...

NEW DELHI: Britannia Industries has paid over Rs 46 lakh towards settlement charge to markets regulator Sebi to settle a case of alleged failure to carry out due diligence before giving effect to transmission of shares and issuance of demand draft. Britannia Industries Ltd allegedly violated Listing Obligations and Disclosure Requirements Regulations (LODR). Sebi agreed to settle proposed adjudication proceedings in the case pertaining to violation of LODR norms after it was approached by Britannia Industries with a plea under the settlement regulations "without admitting or denying the findings of fact and conclusion of law". In a settlement order passed on Thursday, Sebi said it has disposed of the adjudication proceedings initiated against the applicant (Britannia Industries). The ...

From BlackRock Inc. to Vanguard Group, global asset managers have been dazzled by the promised riches of China’s $3.4 trillion mutual fund industry. However, they’re now learning just how fierce the local competition will be. Funds backed by international firms raised $470 billion from retail investors in the first eight months of the year, less than half the $967 billion haul of their 100-plus Chinese rivals, according to data compiled by Morningstar and Bloomberg. Of the top 10 biggest funds raised this year, only two were backed by foreign companies. Foreign companies are having to grapple with how little their size and global reputation matter in a market infamous for investors jumping from fund to fund in search of the next big thing. Domestic rivals have pressed their home-field adv...

NEW DELHI: This company, and the sector it deals in, are among the worst casualties of the Covid-19 crisis. An industry body estimated that the sector, which provides around 2 lakh jobs, has lost Rs 9,000 crore in revenue in last six months due to shutdown of operations. Despite the recent unlocking, concerns over rising Covid cases, which hit the 50 lakh mark this week, has restrained the government from giving a green signal to the sector. It’s no brainer that the company reported almost nil sales and logged Rs 226 crore loss for June quarter, and is likely to post similar numbers for the September quarter as well. But analysts are hopeful. This company is multiplex owner PVR. While nobody knows when this sector can resume operations, companies in this space are doing their bit to c...

NEW DELHI: Vedanta group firm Hindustan Zinc Ltd (HZL) on Thursday said it proposes to raise up to Rs 4,000 crore via debentures. "The company proposes to offer rated, unsecured, redeemable, non-cumulative, non-convertible debentures aggregating up to Rs 4,000 crores in one or more tranches, and in this regard is holding a meeting of its duly constituted Committee of the Directors on September 22," HZL said in a BSE filing. The above issuance is pursuant to the approval of the board of directors in its meeting held on July 21, it added. Credit: Stocks-Markets-Economic Times

Mumbai: Divesting majority stake in state-run lenders by the government will be "credit negative" for such public sector banks (PSBs), a domestic ratings agency warned on Thursday. Many of the entities where the government is mulling selling off majority stake as per reports have a weak credit profile, Icra Ratings said, adding a move to reduce the public ownership will be hurtful. These six lenders are primarily supported by sovereign ownership and the ensuing stable deposit base, the agency said. It said there are media reports suggesting a possible divestment of majority stakes in few PSBs that were left out of consolidation exercise last year. It can be noted that some banks like UCO Bank, Bank of Maharashtra and Punjab and Sind Bank have been left out of the consolidation process. ...