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Krishnamurthy Subramanian appointed as CEA for 3 years

Mutual funds garner Rs 7,985 crore via SIPs in November

Retail investors continued to pour money in mutual fundS through systematic investment plans (SIPs) as the industry received Rs 7,985 crore via this route in November, a rise of 35.44 per cent on a year-on-year basis.

However, the figure remained flat on month-on-month basis despite the volatility in the stock market, according to AMFI. SIP AUM increased to Rs 2.31 lakh crore in November from Rs 2.17 lakh crore in the previous month.

Is that so?

These 5 bank stocks gained up to 7%

Price as on 07 Dec, 2018 02:46 PM, Click on company names for their live prices.

Gold set for best week since August, US jobs data eyed

Gold prices edged higher on Friday and were on track for their best week in 15, as the dollar weakened on renewed speculation of an imminent pause in the US Federal Reserve’s tightening cycle.

Bitcoin leads cryptos to lowest since 2017 as sell-off resumes

Cryptocurrencies continued their slide with a fresh bout of losses Friday after the SEC dashed hopes that a Bitcoin exchange-traded fund would appear before the end of this year.

Bitcoin, the largest cryptocurrency, slumped as much as 8.2 percent, taking it down past $3,400 to the lowest level since September 2017, according to consolidated pricing compiled by Bloomberg. The wider Bloomberg Galaxy Crypto Index sank 8.4 percent as rival tokens including Ether, Litecoin and XRP also retreated.

Bitcoin leads cryptos to lowest since 2017 as sell-off resumes

Sebi in talks with industry on mutual funds norms

India’s market regulator is in talks with industry to deal with fears of contagion effect on mutual funds due to a liquidity crisis faced by the country’s non-banking finance companies (NBFC), its chief said on Friday. <br /> <br />The crunch hit India’s shadow banks in September and October after Infrastructure Leasing and Financial Services (IL&FS) defaulted on a series of debt obligations spreading panic among other NBFCs. <br />

Tata Motors hits 52-week low on weak JLR numbers

Shares of Tata Motors touched 52-week low at Rs 160.75 on Friday after Jaguar Land Rover reported weak sales numbers for November.

“Jaguar Land Rover reported total retail sales of 48,160 vehicles in November 2018, down 8 per cent year-on-year reflecting continuing challenging market conditions in China,” the company said in a BSE filing. “Sales in China were 50.7 per cent lower than a year ago as market conditions remained difficult with continuing consumer uncertainty following tariff changes and trade concerns.”

The scrip recovered in the afternoon trade and was 0.65 per cent up at Rs 163.45 at around 12.10 pm. The benchmark BSE Sensex was up 0.39 per cent at 35,449.89.

Damodaran says valuation is not just a number, there’s a story to it

Valuation guru Aswath Damodaran says companies, like human beings, have a life cycle and a firm’s valuation should be able to reflect its position in the lifecycle.

Damodaran, Professor of Finance at NYU’s Stern School of Business, compares a company’s life cycle to the human development stages. The startup phase is somewhat like infants; many run the risk of facing the highest mortality rates at the early stages of the lifecycle. The ones that survive become young growth companies, which Damodaran compares with teenagers.

Firms that realise their potential progress to become high growth companies, while mature growth companies keep performing and post high earnings, revenues and margins. And like humans, firms reach maturity only to inevitably decline that precedes old age and death, he said in a presentation made to the Nordic Business Forum, whose video has been made available on YouTube.

Damodaran says valuation is not just a number, there’s a story to it

Patchy demand hits mentha oil prices

Mentha oil prices plunged in futures market on Friday on wavering demand at the spot market. Around 11:35 am, MCX Mentha oil was trading at Rs 1,585 per kg, down by Rs 28.80, or 1.78 per cent.

These stocks defy market sentiment, slip up to 13%

Price as on 07 Dec, 2018 12:08 PM, Click on company names for their live prices.

Do you think flattening bond yield curve and now talk of pause in Fed rate hike suggest that the recession risk in the US economy is real?

L&T bags orders worth Rs 2,547 crore

Larsen & Toubro (L&T) Friday said its construction arm has won orders worth Rs 2,547 crore in the domestic and international markets. <br /> <br />”L&T’s power transmission and distribution business has secured orders worth Rs 2,547 crore. On the international front, the business has won a major order in Tanzania for the construction of a 220 kV (kilo volts) transmission line between Dar es Salaam and Morogoro, which in turn will help electrification of a standard gauge railway line,” the engineering and construction major said in a BSE filing. (Source: PTI)<br />

Buffett stake buy buzz drives Kotak Mahindra Bank up by 10%

Shares of Kotak Mahindra Bank jumped over 13 per cent on Friday on a news report that Warren Buffett’s Berkshire Hathaway is looking to buy 10 per cent stake in the bank.

The rise is its biggest percentage gain since May 31.

Over 100 stocks hit 52-week lows on NSE

Over 100 stocks fell to touch their 52-week lows on NSE in Friday’s session. <br /> <br />Among the stocks that touched their 52-week lows were Balkrishna Industries, Bharat Forge, Bharat Heavy Electricals, Coal India, Deepak Fertilizers, Hinduja Ventures, IL&FS Transportation, Oil India, Prakash Industries,Reliance Capital, Steel Authority of India and Tata Motors. <br />

AstraZeneca Pharma inks distribution pact with Abbott for diabetes drug

Drug firm AstraZeneca Pharma India Friday said it has entered into a distribution agreement with Abbott Healthcare for distribution of diabetes medicine Dapagliflozin in India.

Dapagliflozin, an innovative Type 2 diabetes medicine, is AstraZeneca Pharma’s leading diabetes medicine.

Shares of AstraZeneca Pharma were trading 0.54 per cent higher at Rs 1,341.35 apiece on BSE. (Source: PTI)

Top 5 NSE gainers

Price as on 07 Dec, 2018 11:06 AM, Click on company names for their live prices.

Warren Buffett’s Berkshire Hathaway looking to buy 10% stake in Kotak Mahindra Bank

Goldmine! Stocks from this sector have soared up to 900% in 2018

Calendar 2018 has undoubtedly been one of the toughest years for investors on Dalal Street in recent memory. Yet, smart stock pickers have had a field day. Stocks from specific sectors gushed through the many headwinds to deliver eye-popping returns to investors.

Goldmine! Stocks from this sector have soared up to 900% in 2018

Jet Airways flies 4% higher on reports of capital infusion by Etihad

Shares of Jet Airways (India) jumped nearly 4 per cent in the morning trade on Friday after media reports suggested Etihad Airways has offered to finance as much as $200 million to Jet Airways to keep the airline operational.

Cash-crunched Jet Airways has sought $350 million in soft loans from its investment partner Etihad Airways, as it continues to hold discussions with the latter to offload additional stake in the carrier, ET reported.

ETRadio: Let’s talk business & markets

HCL Tech plunges 3% after $1.8-bn deal with IBM

Shares of domestic IT firm HCL Technologies plunged 5 per cent in the early trade on Friday after the company said it is acquiring select IBM software products for $1.8 billion.

The products which represent a total addressable market of more than $50 billion include the products in areas like security, marketing and commerce.

The acquisition, which is the largest in the history of HCL, is expected to close by mid-2019.

Shares of the company traded 4.12 per cent down at Rs 970.30 on BSE around 9:40 am. The BSE Sensex was 0.47 per cent up at 35,479 at that time.

Rupee gains 34 paise against US dollar

The rupee on Friday opened 34 paise higher at 70.56 against the US dollar on account of softening crude oil prices in the international market.

According to ICICIdirect, the rupee weakened sharply on Thursday amid concerns on steep oil supply cuts by OPEC and other members. However, the meeting ended without a supply deal as Russia has not yet committed.

Accoriding to Motial Oswal Financial Services, USDINR pair is expected to quote in the range of 70.30 and 71.20 on Friday.

10 most active stocks on BSE

Price as on 07 Dec, 2018 09:24 AM, Click on company names for their live prices.

OPENING BELL: Sensex jumps 200 points, Nifty50 tests 10,650; HCL tech drops 3%, Avanti Feeds gains 3%

OPENING BELL: Sensex jumps 200 points, Nifty50 tests 10,650; HCL tech drops 3%, Avanti Feeds gains 3%

Pre-open session: Sensex up 200 pts, Nifty above 10,650

Sensex up 200 pts, Nifty above 10,650; Rupee trades at 70.55 against the dollar

Nifty futures hint at a positive start

The Nifty futures on the Singapore Exchange were trading 51.50 points or 0.48 per cent higher at 10,675.50 around 7.50 am indicating a positve start for Nifty50 back home.

Asia shares try to rally on talk of Fed pause

Asian share markets tried to find their footing on Friday as speculation the Federal Reserve might be “one-and-done” with US rate hikes helped salve some wounds after a punishing week. MSCI’s broadest index of Asia-Pacific shares outside Japan nudged up 0.l3 percent, though that followed a 1.8 percent drubbing on Thursday. Japan’s Nikkei added 0.9 percent and E-Mini futures for the S&P 500 edged up 0.1 percent.

US stocks slip but end off lows

The Dow Jones Industrial Average fell 79.4 points, or 0.32 percent, to 24,947.67, the S&P 500 lost 4.11 points, or 0.15 percent, to 2,695.95 and the Nasdaq Composite added 29.83 points, or 0.42 percent, to 7,188.26.

Opec agrees to supply cut but awaits Russia support

Opec tentatively agreed an oil output cut on Thursday but was waiting for a commitment from non- Opec heavyweight Russia before deciding the exact volumes for a production reduction aimed at propping up crude prices, two sources from the group said.

Oil drops post Opec’s decision

Oil prices fell on Friday, pulled down by OPEC’s decision to delay a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia. International Brent crude oil futures fell below $60 per barrel early in the session, trading at $59.50 per barrel at 0144 GMT, down 56 cents, or 0.9 per cent from their last close. US West Texas Intermediate (WTI) crude futures were at $51.24 per barrel, down 25 cents, or 0.5 per cent.

S&P Dow Jones to add China stocks to global indices

Global equity index provider S&P Dow Jones Indices will include Chinese A-shares in its global benchmarks next year, the company said, becoming the latest in a string of index providers to include mainland Chinese shares in their major indexes.

Rajasthan, Telangana vote today

In Rajasthan, Over 2,200 contestants are in the fray for 199 assembly seats and Friday’s polling will determine whether the BJP will buck anti-incumbency or Congress will return to power while in Telangana, ruling TRS is facing a challenge from the Congress-led alliance, with the BJP seeking to make it a triangular contest for a total of 119 seats.

FPIs urge Sebi to ensure ease of doing investment

Foreign portfolio investors (FPIs) — the largest investor group in the Indian stock market — want the regulator to make life easier for them. At a meeting with the Sebi chairman this week, about 30 officials and custodians of some of the large offshore funds appealed to the stock market regulator to do away with the rule that requires most offshore funds to be broad-based — having at least 20 investors with each holding not more than 49 per cent.

Kotak Mahindra Bank behind negative news coverage: Yes Bank

Private-sector lender Yes Bank, where recent board-level exits have added a corporate governance dimension to challenges linked to succession planning, has alleged that some of the negative media coverage it has received in the recent past could be at the behest of rival Kotak Mahindra Bank.

SIPs get ‘smarter’ to offer better returns

Systematic Investment Plans — a system to put money into mutual fund schemes regularly — is seeing variants these days. Distributors have devised ways to improve returns from equity mutual fund investments done through SIPs.

Edelweiss to Raise Rs 250 crore through public bond issue

The NBFC arm of the Edelweiss Group Thursday announced a public issue of bonds to raise Rs 250 crore, with an option to extend the programme collections to Rs 1,000 crore, underscoring the resumption of broader-market financing to para banks.

FIIs net buyers & DIIs net sellers

FIIs turned net buyers on Thursday and bought equities to the tune of Rs 72.47 crore while DIIs were net sellers and sold equities worth Rs 389.78 crore, as per the data available with NSE.





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