‘Sell in May, go away’ is a popular market adage. But ‘Don’t sell any new shares in May’ is the best kept secret of Dalal Street that’s set to break. Sample this: the last four General Election election cycles starting 2004 have not seen a single initial public offering (IPO) launch during the month of May.
Posts tagged Rediff
Axis Bank re-rating to continue on steady NIMs (03-05-2024)
Re-rating of Axis Bank’s stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials. The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality. Axis Bank’s net interest margin (NIM) expanded, against expectations, even in a tough market.
Why stock exchanges are eyeing index derivatives (03-05-2024)
Stock exchanges are expanding the buffet of index derivatives even as the number of stocks permitted to trade in this space, generating an average daily turnover of Rs 450 trillion, is shrinking. This week, the National Stock Exchange (NSE) started issuing futures and options (F and O) contracts based on the Nifty Next 50 Index, bringing the total count of index derivatives to five.
Gradual volume recovery, valuations to support HUL (03-05-2024)
Hindustan Unilever’s (HUL’s) performance for the quarter ended March 2023 (Q4FY24) was in line with modest consensus expectations. Net revenue was up 1 per cent year-on-year (Y-o-Y) with 2 per cent volume growth. Home care maintained single-digit volume growth Y-o-Y.
‘Once In A Lifetime Opportunity To…’ (03-05-2024)
‘We see mid-and small-caps as a real pot of gold.’ ‘From a 10-15 years perspective, mid-and small-cap are likely to outperform the larger index, as they have done in the past.’
Fintechs Push For Easier KYC (03-05-2024)
‘For smaller merchants, there should be a process that is digital and a minimum KYC journey should be allowed.’
Coal India posts 26% rise in profit on higher supplies (02-05-2024)
Coal behemoth CIL on Thursday reported a 26.2 per cent rise in consolidated net profit to Rs 8,682.20 crore for the March quarter on the back higher supplies of the dry fuel. The company’s consolidated net profit stood at Rs 6,875.07 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing. Its consolidated income in the January-March period declined to Rs 39,654.50 crore from Rs 40,371.51 crore a year ago.
RBI says 97.76% of Rs 2000 currency notes returned (02-05-2024)
The Reserve Bank of India (RBI) on Thursday said 97.76 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,961 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation.
RBI says 97.76% of Rs 2000 currency notes returned (02-05-2024)
The Reserve Bank of India (RBI) on Thursday said 97.76 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,961 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation.
Cognizant March quarter net down 5.8% to $546 mn (02-05-2024)
Nasdaq-listed IT services company Cognizant has reported a 5.8 per cent year-on-year decline in consolidated net profit for the March quarter to $546 million. The company in a release said its revenue guidance for the full year 2024 is “unchanged” in the band of 2 per cent decline to a 2 per cent growth in constant currency.