Last Updated: 18 Sep 2020 04:22 PM

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  • Sensex Ends 323 Points Lower; Realty and Banking Stocks Witness Selling


    Indian share markets witnessed selling pressure throughout the day today and ended lower.

    Benchmark indices slipped today following losses in global markets after the US Federal Reserve's policy-making committee indicated the overnight rate could stay close to zero for years to reach its 2% inflation target.

    At the closing bell, the�BSE Sensex stood lower by 323 points. Meanwhile, the�NSE Nifty ended down by 88 points.

    Hindalco�was the top loser in NSE. Meanwhile, the�top gainers in NSE today�include Dr Reddy's Laboratories and Zee Entertainment.

    SGX Nifty�was trading at 11,526, down by 90 points, at the time of writing.

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    The�BSE Mid Cap�index ended down by 0.2%. The�BSE Small Cap�index ended down by 0.5%.

    On the sectoral front, realty stocks and banking stocks were among the hardest hit.

    Asian stock markets ended on a negative note. As of the most recent closing prices, the Hang Seng ended down by 1.7% and the Shanghai Composite stood lower by 0.4%. The Nikkei ended down by 0.7%.

    US stock futures are trading lower today, indicating a negative start for Wall Street indices.

    Nasdaq Futures are trading down by 131 points (down 1.2%), while S&P Futures are trading down by 36 points (down 1%).

    The�rupee�is trading at 73.66 against the�US$.

    Gold prices�are trading down by 0.9% at Rs 51,370 per 10 grams. Over the last three weeks, gold is trading in a narrow range since hitting record highs of Rs 56,200 last month.

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    Even with the recent volatility in prices, gold and silver remain among the best performing commodities this year to combat the fallout from the coronavirus pandemic.

    So, is it time to book profits in gold and silver?

    In our latest episode of�Investor Hour�Podcast, Jim Rogers joins Rahul Goel to talk about gold and more...

    In the podcast, he tells that he was buying gold and silver and would buy even more. He believes you can�get rich with investments in gold and silver.

    In this freewheeling chat, he also talks about China, his view on the US dollar, the opportunities in agriculture, the bubble in tech stocks, bonds, bitcoin...and more.

    Listen in to the�podcast here.

    You can also watch the podcast video here:

    In news from the mutual funds space, the markets regulator is planning another set of reforms for mutual funds where it might revamp the mutual fund (MF) risk-o-meter.

    As per an article in a leading financial daily, the�market regulator will expand the MF risk-o-meter�to include a "Very High" risk category.

    The five existing categories of MFs are low, moderately low, moderate, moderately high and high.

    The article added that risk in equity funds will be�assesses on the basis of three parameters - market capitalisation, volatility, and impact cost.

    Equity funds will be reclassified into the high and high risk categories. All credit risk funds will be moved to the new very high risk category.

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    ------------------------------

    The report added that credit risk funds will be judged on the basis of quality, duration, and liquidity of bonds.

    Asset management companies (AMCs) will be required an annual timeline of how the risk has evolved in each fund. Any change in a scheme's underlying assets should reflect in the scheme's risk classification.

    Note that the proposal comes shortly after�the regulator on September 13 modified norms on asset allocation by multi-cap funds.

    The circular mandates multi-cap equity schemes to allocate 25% each to largecaps, midcaps, and smallcaps. The remaining 25% is up to the fund manager.

    The regulator also issued a clarification on Sunday, suggesting that based on the preference of unit holders, mutual funds could consider rebalancing.

    They also have an option to facilitate a switch for unitholders to other schemes. They could also merge the multicap fund with a largecap fund or convert it to large cum midcap fund.

    Assuming every fund rebalances, Friday's circular is expected to trigger a move of around Rs 280 billion from largecaps to smallcaps.

    Richa Agarwal, lead smallcap analyst at Equitymaster, believes this move would be net positive for select smallcap stocks. As per Richa, there could be a speculative rally across smallcaps.

    Here's what she wrote about it in a recent edition of the Profit Hunter:

    • It would be myopic and imprudent to bet on any smallcap in the hope of a regulation driven rally.

      That said, you must invest in smallcaps selectively with long-term horizon in mind.

      Here's why...
    • You see, despite the rally in smallcaps since March, there is still a huge valuation gap between smallcaps and Sensex.

      The ratio of smallcaps to Sensex stands at 0.37 now, as compared to long-term average of 0.44 times.

      This means certain smallcaps will witness a significant rebound, irrespective of regulations.

    Richa believes this could be a once in a decade opportunity to get rich from select smallcaps.

    Moving on to stock specific news...

    Dhanuka Agritech was among the top buzzing stocks today.

    Dhanuka Agritech share price rallied as much as 10% today, a day after the company approved the�buyback�of up to 10,00,000 equity shares at a final price of Rs 1,000 per share for an aggregate amount not exceeding Rs 1 billion.

    The agrochemical company has fixed September 28, 2020�as the record date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in the buyback.

    In other news, HSIL share price rallied over 10% after the company said it will consider share buyback next week.

    Stock of the company hit its 52-week high, surpassing its previous high of Rs 71.35 hit on September 16, 2020.

    "Meeting of the Board of Directors of the Company will be held on Monday, September 21, 2020 to consider the proposal of buyback of the fully paid-up equity shares of the Company," the company said in an exchange filing.

    Speaking of buybacks, as a shareholder in cash rich companies, you should not only be wary of expensive buybacks. But if possible�use it to your advantage to rake in some cash.

    As per Rahul Shah, co-head of Research, investors should not assume buybacks are always good. Here's an excerpt of what he wrote in�one of the editions of�The 5 Minute Wrapup:

    • The reason behind the buyback must be investigated. At the end of the day, an increase in earnings should be more a function of the inherent�robustness of the business, as that's what will help it continue to grow at a healthy pace.

    To know what's moving the Indian stock markets today, check out the most recent�share market updates here.



    This article (Sensex Ends 323 Points Lower; Realty and Banking Stocks Witness Selling) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

  • LAURUS LABS LTD Share Price Up by 6%; BSE HEALTHCARE Index Up 0.5%


    LAURUS LABS LTD share price has zoomed 6% and is presently trading at Rs 1,424.

    Meanwhile, the BSE HEALTHCARE Index is at 19,755 (up 0.5%).

    Among the top Gainers in the BSE HEALTHCARE Index today are LAURUS LABS LTD (up 5.7%) and APOLLO HOSPITALS (up 5.2%).

    CIPLA and ERIS LIFESCIENCES LIMITED (down 0.1%) are among the top losers today.

    Over the last one year, LAURUS LABS LTD has moved up from Rs 342 to Rs 1,424, registering a gain of Rs 1,082 (up 316.4%).

    On the other hand, the BSE HEALTHCARE has moved up from 13,071 to 19,755, registering a gain of 6,684 points (up 50.8%) during the last 12 months.

    The top buzzing stocks among the BSE HEALTHCARE Index stocks during this same period were LAURUS LABS LTD (up 316.4%), GRANULES INDIA (up 250.1%) and J.B.CHEMICALS (up 168.6%).

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    What About the Benchmark Indices?

    The BSE Sensex is at 39,235 (down 0.8%).

    The top gainers among the BSE Sensex stocks today are HCL TECHNOLOGIES (up 2.1%), INFOSYS (up 0.9%) and MARUTI SUZUKI (up 0.7%). Other gainer include TITAN (up 0.1%). The most traded stocks in the BSE Sensex are HCL TECHNOLOGIES and INFOSYS.

    In the meantime, NSE Nifty is at 11,587 (down 0.7%). The top gainers in the NSE Nifty include DR. REDDYS LAB (up 4.3%), ZEE ENTERTAINMENT (up 2.4%) and HCL TECHNOLOGIES (up 2.2%). Other gainers include INFOSYS (up 0.9%) and GRASIM (up 0.8%) are among the top gainers in NSE Nifty.

    Over the last 12 months, the BSE Sensex has moved up from 37,123 to 39,235, registering a gain of 2,112 points (up 5.02%).



    This article (LAURUS LABS LTD Share Price Up by 6%; BSE HEALTHCARE Index Up 0.5%) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

  • ALLCARGO LOGISTIC Share Price Down by 5%; BSE 500 Index Down 0.6%


    ALLCARGO LOGISTIC share price has plunged 5% and is presently trading at Rs 126.

    Meanwhile, the BSE 500 Index is at 15,302 (down 0.6%).

    Among the top losers in the BSE 500 Index today are ALLCARGO LOGISTIC (down 5.1%) and TRENT LTD (down 5.5%).

    J.B.CHEMICALS (up 9.3%) and DHANUKA AGRITECH (up 7.2%) are among the top gainers today.

    Over the last one year, ALLCARGO LOGISTIC has moved up from Rs 102 to Rs 126, registering a gain of Rs 24 (up 23.3%)..

    The BSE 500 has moved up from 14,284 to 15,302, registering a gain of 1,018 points (up 7.1%) during the last 12 months.

    The top buzzing stocks among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 1098.9%), LAURUS LABS LTD (up 316.4%) and DIXON TECHNOLOGIES (up 281.6%).

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    What About the Benchmark Indices?

    The BSE Sensex is at 39,235 (down 0.8%). The top gainers among the BSE Sensex stocks today are HCL TECHNOLOGIES (up 2.1%), INFOSYS (up 0.9%) and MARUTI SUZUKI (up 0.7%). Other gainer include TITAN (up 0.1%). The most traded stocks in the BSE Sensex are HCL TECHNOLOGIES and INFOSYS.

    In the meantime, NSE Nifty is at 11,587 (down 0.7%). DR. REDDYS LAB (up 4.3%) and ZEE ENTERTAINMENT (up 2.4%) are among the top gainers in NSE Nifty.

    Over the last 12 months, the BSE Sensex has moved up from 37,123 to 39,235, registering a gain of 2,112 points (up 5.02%).

    ALLCARGO LOGISTIC Financial Update...

    ALLCARGO LOGISTIC net profit stood at Rs 507 million for the quarter ended March 2020, compared to a profit of Rs 500 million a year ago. Net Sales rose 4.7% to Rs 18.7 billion during the period as against Rs 17.9 billion in January-March 2019.

    For the year ended March 2019, ALLCARGO LOGISTIC reported 37.8% increase in net profit to Rs 2.4 billion compared to net profit of Rs 1.8 billion during FY18.

    Revenue of the company grew 14.0% to Rs 69 billion during FY19.

    The current Price to earnings ratio of ALLCARGO LOGISTIC, based on rolling 12 month earnings, stands at 12.8x.

    This article (ALLCARGO LOGISTIC Share Price Down by 5%; BSE 500 Index Down 0.6%) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

  • IRCON INTERNATIONAL Share Price Up by 5%; BSE CAPITAL GOODS Index Down 1.2%


    IRCON INTERNATIONAL share price has zoomed 5% and is presently trading at Rs 87.

    Meanwhile, the BSE CAPITAL GOODS Index is at 14,116 (down 1.2%).

    Among the top Gainers in the BSE CAPITAL GOODS Index today is IRCON INTERNATIONAL (up 5.0%).

    SIEMENS and FINOLEX CABLES (down 0.1%) are among the top losers today.

    Over the last one year, IRCON INTERNATIONAL has moved up from Rs 68 to Rs 87, registering a gain of Rs 19 (up 28.4%).

    On the other hand, the BSE CAPITAL GOODS has moved down from 17,301 to 14,116, loss of 3,185 points (down 19.1%) during the last 12 months.

    The top buzzing stocks among the BSE CAPITAL GOODS Index stocks during this same period were HONEYWELL AUTOMATION (up 24.7%), HINDUSTAN AERONAUTICS (up 13.8%) and AIA ENGINEERING (up 9.5%).

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    What About the Benchmark Indices?

    The BSE Sensex is at 39,235 (down 0.9%).

    The top gainers among the BSE Sensex stocks today are HCL TECHNOLOGIES (up 2.5%), INFOSYS (up 0.9%) and MARUTI SUZUKI (up 0.5%). Other gainer include ONGC (up 0.2%). The most traded stocks in the BSE Sensex are ONGC and HCL TECHNOLOGIES.

    In the meantime, NSE Nifty is at 11,587 (down 0.7%). The top gainers in the NSE Nifty include DR. REDDYS LAB (up 4.3%), ZEE ENTERTAINMENT (up 2.6%) and HCL TECHNOLOGIES (up 2.5%). Other gainers include INFOSYS (up 0.9%) and BPCL (up 0.9%) are among the top gainers in NSE Nifty.

    Over the last 12 months, the BSE Sensex has moved up from 37,123 to 39,235, registering a gain of 2,112 points (up 4.94%).



    This article (IRCON INTERNATIONAL Share Price Up by 5%; BSE CAPITAL GOODS Index Down 1.2%) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

  • BAJAJ CONSUMER CARE Share Price Up by 5%; BSE FMCG Index Down 0.7%


    BAJAJ CONSUMER CARE share price has zoomed 5% and is presently trading at Rs 194.

    Meanwhile, the BSE FMCG Index is at 11,437 (down 0.7%).

    Among the top Gainers in the BSE FMCG Index today are BAJAJ CONSUMER CARE (up 5.1%) and GSK CONSUMER (up 5.1%).

    BRITANNIA (down 0.3%) and P&G HYGIENE (down 0.4%) are among the top losers today.

    Over the last one year, BAJAJ CONSUMER CARE has moved down from Rs 256 to Rs 194, registering a loss of Rs 62 (down 24.4%).

    On the other hand, the BSE FMCG has moved up from 10,952 to 11,437, registering a gain of 485 points (up 3.6%) during the last 12 months.

    The top buzzing stocks among the BSE FMCG Index stocks during this same period were TATA CONSUMER PRODUCTS (up 113.0%), E.I.D. PARRY (up 84.1%) and ADVANCED ENZYME TECHNOLOGIES (up 48.7%).

    AI is the Future: Here's How to Play this Opportunity in India...

    What About the Benchmark Indices?

    The BSE Sensex is at 39,235 (down 0.8%).

    The top gainers among the BSE Sensex stocks today are HCL TECHNOLOGIES (up 2.5%), INFOSYS (up 1.2%) and MARUTI SUZUKI . The most traded stocks in the BSE Sensex are HCL TECHNOLOGIES and INFOSYS.

    In the meantime, NSE Nifty is at 11,587 (down 0.7%). The top gainers in the NSE Nifty include DR. REDDYS LAB (up 4.4%), HCL TECHNOLOGIES (up 2.6%) and ZEE ENTERTAINMENT (up 2.5%). Other gainers include INFOSYS (up 1.0%) and BPCL (up 0.8%) are among the top gainers in NSE Nifty.

    Over the last 12 months, the BSE Sensex has moved up from 37,123 to 39,235, registering a gain of 2,112 points (up 5.02%).

    BAJAJ CONSUMER CARE Financial Update...

    BAJAJ CONSUMER CARE net profit stood at Rs 542 million for the quarter ended June 2020, compared to a profit of Rs 501 million a year ago. Net Sales declined 7.3% to Rs 2.0 billion during the period as against Rs 2.1 billion in April-June 2019.

    For the year ended March 2019, BAJAJ CONSUMER CARE reported 5.0% increase in net profit to Rs 2.2 billion compared to net profit of Rs 2.1 billion during FY18.

    Revenue of the company grew 10.9% to Rs 9 billion during FY19.

    The current Price to earnings ratio of BAJAJ CONSUMER CARE, based on rolling 12 month earnings, stands at 15.3x.

    This article (BAJAJ CONSUMER CARE Share Price Up by 5%; BSE FMCG Index Down 0.7%) is authored by Equitymaster.

    Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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