Experts Financial News

Mint. With the IPO market booming again this year, there is a need for merchant bankers and investment managers to act more responsibly, but also for individual investors to be more informed about what they invest in, they said.

ONGC and Oil India (OIL) dropped by 3% to Rs 287.30 and 6.4% to Rs 570, respectively, on BSE following a sharp decline in crude oil prices, which usually negatively impacts their profit margins. Crude oil prices have plummeted to nearly three-year lows following a downward revision of demand forecasts by OPEC, primarily driven by reduced Chinese demand. In its monthly report released yesterday, OPEC lowered the global oil demand forecast for 2024 to 2.03 million barrels per day, down from the previous estimate of 2.11 million barrels per day.

Indian Hotels Company Ltd. traded 0.78 per cent down at Rs 689.45 at 01:07PM (IST) on Wednesday, even as BSE benchmark Sensex gained 46.83 points to 81968.12. The stock had settled at Rs 694.9 in the previous session. The stock quoted a 52-week high price of Rs 696.75 and 52-week low of Rs 371.45, respectively. As per BSE data, total traded volume on the counter till 01:07PM (IST) stood at 46589 shares with a turnover of Rs 3.22 crore.

Essar Group entity Essar Oil and Gas Exploration & Production Ltd under the Corporate Insolvency Resolution Process (CIRP). On Tuesday, the division bench of Justice Ashok Bhushan and technical members Barun Mitra and Arun Baroka, while suspending the National Company Law Tribunal (NCLT) order observed that Section 9 Application has been resorted as a recovery mechanism which is not permissible under the IBC. “Appellant (Essar Oil and Gas Exploration) is a healthy company which has a turnover of Rs 800 crores and about 425 Employees are working,” observed the appellate tribunal. “Section 9 application ought not to have been admitted by the adjudicating authority and the adjudicating authority has in the order although noticed the settlement but has not appropriately dealt with the settlement,” noted the appellate tribunal in its order.

Crompton Greaves Consumer Electricals Ltd. dropped 0.1 per cent to Rs 466.3 at 12:07PM (IST) in Wednesday's trade. The stock has hit a high of Rs 469.2 and low of Rs 464.3 so far during the session. The stock had closed at Rs 466.8 in the previous session. The counter has had a total traded volume of 12848 shares so far with a value of Rs 0.6 crore on the NSE. It traded at a price-to-earnings multiple of 63.29 and a price-to-book ratio of 5.73.

Vodafone Idea have fallen by 16% in one month and by 20% in the current year so far, following global brokerage firm Goldman Sachs’ commentary on the stock. The global brokerage firm Goldman Sachs, earlier in the last week, had given a target price of just Rs 2.5 and signaled a downside potential of as deep as 83%, following which the shares of the company tanked up to 14% in an intraday trade.

Shree Cements Ltd. traded 0.11 per cent up at Rs 25740.25 at 11:56AM (IST) on Wednesday, even as BSE benchmark Sensex gained 112.29 points to 82033.58. The scrip had settled at Rs 25711.4 in the previous session. The stock quoted a 52-week high and 52-week low of Rs 30710.15 and Rs 23714.05, respectively.

Bajaj Housing Finance was subscribed 14.05 times on the third and the last day of bidding on Wednesday, led by strong demand from non-institutional investors (NIIs) and qualified institutional buyers (QIBs). On day two, the issue was subscribed 7.5 times. At 11:30 am, the issue attracted bids for 10,22,02,27,408 shares, or 14.05 times against the issue size of 72,75,75,756 shares. The retail portion was subscribed 5.35 times, while non-institutional investors subscribed 25.2 times. The qualified institutional buyers’ allocation was booked 23.5 times, and the shareholder reservation portion saw 12.76 times subscription.

Before my son went overseas for his higher education, he opened a PPF account in an Indian bank. He has continued to invest in it even after getting a job abroad. Is this acceptable as per the PPF rules? Dev Ashish, Founder, StableInvestor, and Sebi-registered investment adviser: If your son opened a PPF account in India as a resident and later became an NRI, he can continue the account till maturity.

Suzlon Energy surged 5% to reach a day's high of Rs 81.95 on the NSE on Wednesday, marking the second consecutive session of gains and a total increase of over 10% in the two-day rally. The positive investor sentiment is driven by Morgan Stanley's overweight stance on the renewable energy sector. The stock was trading with strong volumes, with nearly 7.6 crore shares changing hands on the NSE around 10 a.m. The total traded value was Rs 617 crore. The stock is nearing its 52-week high of Rs 84.29.

Cholamandalam Investment & Finance Company Ltd. traded 1.23 per cent up at Rs 1526.1 on Wednesday at around 10:50AM (IST), while the benchmark BSE Sensex advanced 89.13 points to 82010.42. As many as 1,657 shares changed hands on the counter with a total value of Rs 0.26 crore.

passive funds. Around 42 index funds and 36 ETFs were launched in this year so far. 3 of 3,763MF: pl fileInboxAnkur Singh 10:45 AM (9 minutes ago)to me, Anushka, MeghnaByline — Surbhi KhannaAgency — ET OnlinePublish section — MF AnalysisContent filter — strategiesKeywords: mutual funds, mutual fund news, passive funds, equity mutual funds, index funds, ETFs, large cap funds, small cap funds, thematic funds, sectoral fundSynopsis: Mutual fund houses in 2024 have launched around 170 new funds, with a significant focus on passive schemes like index funds and ETFs. Experts suggest investors consider large-cap passive funds due to their lower expense ratios, while cautioning about the risks associated with sectoral and thematic funds.Why mutual funds are bullish on passive schemes. Should you follow suit?The mutual fund houses in 2024 so far have launched around 170 NFOs to complete their bouquet of offerings. A further analysis of data showed that out of these new launches maximum were passive funds. Around 42 index funds and 36 ETFs were launched in this year so far. Mutual funds are allowed to launch only one active fund in each category. So to increase the assets under management of the fund house, new passive funds are launched with different variants.

Aditya Birla Fashion and Retail (ABFRL) Balrampur Chini, Bandhan Bank, Biocon, Chambal Fertilizers & Chemicals, Hindustan Copper and RBL Bank. The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Sensex and Nifty rose for the second consecutive day on Tuesday, driven by gains in IT stocks ahead of key U.S. inflation data and by pharma stocks following a tax cut on certain cancer drugs. The 30-share BSE Sensex surged 362 points, or 0.44%, to close at 81,921, while the broader NSE Nifty advanced 105 points, or 0.42%, to settle at 25,041.

Nifty future closed positive with gains of 0.45% at 25097 levels on Tuesday. India VIX was down by 6.18% from 14.24 to 13.36 levels. On the options front, the maximum Call OI is placed at 26,000 and then towards 25,100 strikes while the maximum Put OI is placed at 25,000 and then towards 24,600 strikes.

Avalon Technologies with a target price of Rs 630. The current market price of Avalon Technologies Ltd. is Rs 522.15. Avalon Technologies Ltd., incorporated in the year 1999, is a Small Cap company (having a market cap of Rs 3449.30 Crore) operating in General sector.

Cyient DLM with a target price of Rs 880. The current market price of Cyient DLM Ltd. is Rs 702.4. Cyient DLM Ltd., incorporated in the year 1993, is a Small Cap company (having a market cap of Rs 5553.01 Crore) operating in General sector.

Pratham and Vision portfolios have delivered returns of 47% and 42%, respectively. In comparison, the BSE 500 has returned 41% and the NIFTY 50 has returned 31% over the same period” says Riya Oswal Bafna- Co-Fund Manager at Purnartha. In an interview with ETMarkets, Riya said: “We have expanded our investment process to incorporate two additional drivers beyond volume growth, aiming to enhance our portfolio's performance and adapt to changing market conditions” Edited excerpts:

franchise partner Varun Beverages announced September 12 as the record date for its 2:5 stock split, which means that the stock will trade on an ex-split basis from tomorrow. This means that the shareholders whose names appear in the company's database on the record date are eligible for the said stock split.

SJVN, which was recently elevated to a Navratna status by the government, along with 20 other companies, is likely to remain in focus today as they have set September 12 as the record date to determine shareholders eligible for dividend payments. This means today is the last day to buy shares of these companies to qualify for the announced dividends.

Benchmark Sensex climbed nearly 362 points while Nifty ended above 25,000 level higher on Tuesday, marking their second straight day of gains following a rebound in the US markets. Stocks that were in focus include names like GMR Airports, which rose 1.96%, IREDA, which gained 5.3%, and Suzlon Energy, whose shares jumped nearly 5% on Tuesday.