During the dot-com bubble, it had touched a high of 1.9.
Shares of Yes Bank may face selling pressure as the Reserve Bank-mandated three-year lock-in period for individual investors and exchange-traded funds is ending on Monday, according to analysts. The analysts expect distress on the bank counter on Monday as they expect investors, primarily the nine banks led by State Bank, which picked up almost 49 per cent of its stocks in March 2020 for Rs 10 per share -- at a premium of Rs 8 on the face value as part of the RBI bailout, making an exit. Exchange-traded funds are also likely to press the exit button.
'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
Despite a shaky Q3, conviction over the stock remained high, with 65 per cent of the analysts polled on Bloomberg retaining their 'buy' recommendation.
The bank may post a loss of Rs 1,000 crore during October-December 2019-20 quarter, an analyst commented.
But experts say downside limited, pockets of opportunities for investors
Indian CEOs might like to make some serious course correction.
In the Sensex pack, Yes Bank, IndusInd Bank, Infosys, ICICI Bank, TCS, SBI, Reliance Industries, ONGC, Axis Bank and NTPC rose up to 2.66 per cent.
Container Corporation of India (Concor) has been the worst performer among major logistics & port stocks registering returns of about 4 per cent over the past three months as compared to 10-12 per cent for peers Gateway Distriparks and Adani Ports and SEZ. Uncertain outlook on the export-import (EXIM) trade front, market share loss, lack of progress on divestment, and weak June quarter results weighed on the stock. Volume and margin movement will be key triggers for the stock going ahead. As was the case in the previous quarter, margin performance was muted even in the June quarter. Operating profit in the quarter was down 17 per cent at Rs 391 crore missing estimates by over 15 per cent. Operating profit margins at 20.4 per cent, too, were down sharply by 350 basis points over the year-ago quarter.
The Reserve Bank of India (RBI) has announced a dollar-rupee two-year sell-buy swap auction for $5 billion on March 8, which will suck out rupee liquidity from the system. The swap will be in the nature of a simple sell/buy foreign exchange from the RBI side, in which a bank will buy US dollars from the central bank and simultaneously agree to sell the same amount of US dollars at the end of the swap period. "With a view to elongating the maturity profile of its forward book and smoothen the receivables relating to forward assets, it has been decided to undertake sell/buy swap auction of $5 billion on March 8, 2022," the RBI said in a statement. The auction cut-off will be based on the premium amount in paisa terms up to two decimal points.
'The recent correction in indices has made the markets cheaper to invest for the long term.'
The sudden movement of the rupee - post the monetary policy - is not a reason to panic, said currency dealers. According to them, a correction was overdue for the rupee that remained the best performing currency in the region for well over a month. The rupee closed at 74.72 a dollar on Friday from its previous close of 74.60. It had dropped 1.52 per cent against the dollar on April 7 after the Reserve Bank of India (RBI) announced its monetary policy, committing to buy Rs 1 trillion of bonds in the June quarter. A weak rupee goes well with the export narrative of the government, and is consistent with the RBI's intervention strategy that prevented an appreciation.
According to estimates, if the companies are not allowed to raise petrol rates at least Rs 5 a litre by the first fortnight of September, they might begin to suffer underrecoveries on this decontrolled auto fuel, too -- for the first time this financial year.
The entry of SoftBank-backed Ola into the electric scooter (e-scooter) segment is set to power up the overall market and perhaps fast-track the adoption of battery-operated vehicles. But for manufacturers of internal combustion engine (ICE)-powered two-wheelers, such as Bajaj Auto, Hero MotoCorp, and TVS Motor, it will be a double whammy. Not only will they have to contend with the aggressive pricing of Ola's scooter and incur a loss at each unit of the e-scooter sold, the volumes of their regular (ICE) models, too, could feel the squeeze, observed analysts. Ola is expected to price its e-scooter in the range of Rs 85,000-1.1 lakh.
Crisis of growth is worsened by the challenging global environment and policy missteps. Returning to 9 per cent growth trajectory will be a tall order.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
Strong macroeconomic headwinds causing turbulence in the $245-billion Indian IT industry are yet to calm down. Top Indian IT services companies are likely to post a decline or just marginal growth in sequential revenue in Q1FY24 because of a soft discretionary spending environment. Though the first quarter is seasonally strong for IT firms, "June 2023 will be an exception", according to analysts at Kotak Institutional Equities.
The inflation in the food basket spiked to 7.89 per cent in October 2019 as against 5.11 per cent the preceding month.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
Analysts now expect India Inc to report a decline in both top line and bottom line for the September quarter.
Spiralling prices pinched the pocket of consumer as edible oil, fuel and many other commodities turned dearer this year amid pandemic-induced disruptions but the inflationary pressure is anticipated to ease, though marginally, in the coming months. As consumers, at retail as well as wholesale levels, are willy-nilly learning to live with the new normal of curbs to contain the spread of coronavirus infections, experts are of the view that elevated inflation is likely to stay longer. After dealing with the devastating blows from the second COVID wave, especially during the April-June period, the economy is well on the revival path but the emergence of Omicron might unsettle the recovery trajectory in the short term.
The incumbents Bharti Airtel and Vodafone Idea recorded adjusted gross revenue of Rs 10,701.5 crore and Rs 9,808.92 crore, respectively, during the quarter.
Among other segments, home broadband subscriptions have picked up and the virtual private network service, too, increased by around 15 per cent.
'Quality of management, corporate governance, allocation of capital, full disclosures should form the basis to decide investing in a particular stock.'
Total income of Wipro was almost flat at Rs 15,571.4 crore at the end of the first quarter of 2020-21 compared to Rs 15,566.6 crore in the corresponding quarter of the fiscal year 2019-20.
Its production declined for the third consecutive year in financial year 2020-21 (FY21) to an 11-year low, while sales volume contracted for the second year to the lowest since FY15. The company manufactured around 1.08 million vehicles last fiscal, a decline from 1.17 million the previous year, and a steeper fall from its all-time high tally of 1.62 million reported in FY18.
'The years after the financial crisis of 2008 were tough for brokers as volumes dwindled and retail investors stayed away.'
The rupee has depreciated 2.35 per cent in the past three months and one per cent in the past month, despite strong capital flows and falling oil prices.
Inflation in food articles, fuel and power contracted in July.
This measure will ensure that the price of a scrip cannot move upward or downward beyond a limit set for the day.
Despite the onset of wedding season, the situation in apparel retail market remained unchanged and saw sharp decline in sales
Monsoons have had limited effect on market returns for a given year, report Sachin Mampatta and Sundar Sethuraman.
Investors are anxious over the US-China trade tension, a sharp devaluation in yuan and uncertainty over Kashmir issue.
There was broad-based rally with participation across sectors creating enormous wealth for investors but starting 2018, the rally got concentrated into select large-cap companies with under performance in broader markets.
Shares of Motilal Oswal Financial Services, Edelweiss Financial Services and IIFL Holdings have all doubled in the past one year against the Sensex's 23 per cent gain.
The Nifty PSU Bank pared losses to end flat after falling as much as 1.05%
The operating environment is unpredictable, but if the bank can't give a clear picture of what's in store, calling the bottoming out of its asset quality stress is nearly impossible.
Analysts believe total cost of production at Rs 1,000/tonne reasonable for power firms.
Inflows from Europe, falling crude oil to come to the rescue if rupee cracks against the dollar.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances