Posts tagged All News
Suburban train derails in Mumbai, services hit (15-09-2015)
Dr Lal PathLabs plans IPO; files draft papers with Sebi (15-09-2015)
Goldman Sachs upgrades Axis Bank, ICICI Bank, YES Bank to ‘Buy’ (15-09-2015)
Goldman Sachs on Tuesday upgraded private lenders Axis Bank, ICICI Bank and YES Bank to ‘Buy’ from ‘Neutral’ citing attractive entry after recent underperformance on bad loans concerns.
At 11.44 am, Axis Bank, ICICI Bank and YES Bank were trading 1.57 per cent, 1.42 per cent and 0.33 per cent lower at Rs 488.20, Rs 268.20 and Rs 728.95, respectively.
On a year-to-date basis till September 14, ICICI Bank declined 22.9 per cent against 9.88 per cent fall registered by BSE Bank index.
The BSE Sensex declined 6 per cent during the same period. According to Eikon data, ICICI Bank is the only large cap private lender trading below 2 times of its book value.
Lenders with exposure to project finance especially in infrastructure sector have been under pressure over the last few months on worries over rising bad loans.
Goldman Sachs said: “Stocks are now trading at an attractive valuation of 1.6x to 2x of 1 year forward book value.”
The global investment banking firm also upgraded Kotak Mahindra Bank and Bajaj Finance to ‘Neutral’ from ‘Sell’. The share price of Kotak Mahindra Bank was trading 0.91 per cent down at Rs 639 while Bajaj Finance was up 0.52 per cent at Rs 5180 in the early trade.
(With inputs from Reuters)
Page industries (15-09-2015)
I got wrapped on the knuckles a bit, when I did comment once on price based discussion but yes, Page appears weak. I am very concerned since it has not fallen this much in recent times, from the peak levels....I am planning to add more (already my largest holding), if it comes around 12k
Gold holds near 1-month low ahead of Fed meeting (15-09-2015)
Sebi to conduct nation-wide investor survey, ropes in Nielsen (15-09-2015)
Capital markets regulator Sebi has decided to conduct a nation-wide investor survey to understand investment habits of individuals and households in different parts of the country.
The regulator has commissioned the survey to Nielsen India Pvt Ltd, which would collect information from residents in different states and Union territories.
“This is a major exercise taken up at the national level and requires to be completed in a short period. All households are requested to cooperate whole-heartedly in this exercise.
“Any information supplied by the individual respondent shall be kept strictly confidential,” the Securities and Exchange Board of India (Sebi) said in a public announcement.
The Sebi Investor Survey 2015 follows three other surveys Sebi had commissioned earlier on how households save and invest. The last such survey, by NCAER, was released in January 2012.
An earlier survey found that 32 per cent of households, who were making investments in markets, depended on the informal advice of their family and friends.
The survey had also shown that 35 per cent of investors made their investments because they read something in newspapers or they saw something elsewhere in media.
Collectively, 67 per cent investors in the country were following informal advice system while only one-third were following formal advice system.
Sebi Chairman U K Sinha recently said this situation needs to change while there was a need for a greater share of household savings to come into the financial markets.
Sinha had said just about 3 per cent of savings were getting into securities markets and the country had only around 3.50 crore beneficiary owner demat accounts.
Giving the context of the stock market having given an average annual return of over 15 per cent in a longer period time horizon of 15-20 years, Sinha said a large population was losing out on such high returns as they were parking their funds in non-financial products.