September 28, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

August SIP Inflows, SREI Group’s Rs 350-Bn Loans, and Buzzing Stocks Today

Tue, 14 Sep Pre-Open

Indian share markets ended on a negative note yesterday.

Benchmark indices started the week on a choppy note tracking mixed global cues.

At the closing bell yesterday, the BSE Sensex stood lower by 127 points (down 0.2%).

Meanwhile, the NSE Nifty closed lower by 14 points (down 0.1%).

Coal India and Hindalco Industries were among the top gainers.

Reliance Industries and ICICI Bank, on the other hand, were among the top losers.

The BSE MidCap index and the BSE SmallCap index ended up by 0.3% and 0.8%, respectively.

Sectoral indices ended on a mixed note with stocks in the energy sector and banking sector witnessing most of the selling pressure.

Metal and realty stocks, on the other hand, witnessed buying interest.

Shares of Abbott India and Shriram City Union hit their respective 52-week highs.

Gold prices for the latest contract on MCX were trading up by 0.1% at Rs 46,864 per 10 grams at the time of closing stock market hours yesterday.

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Top Stocks in Focus Today

Among the buzzing stocks today will be Zomato.

After shutting down its grocery delivery service, online food delivery firm Zomato has pulled the plug on another business – nutraceuticals.

The company has decided to shut it at a time when the government is trying to get stricter about private label norms for marketplace businesses in the country.

Nutraceuticals are defined as any food-related product which provides medical or health benefits. This could range from food to beverages or even tablets with a claim of prevention or cure of chronic diseases.

Citing a huge opportunity, Zomato had made a plunge in the segment and named Gaurav Gupta, Chief Operating Officer as the head of this division for five years.

The company also shut down its grocery business given the gaps in order fulfillment, poor customer experience, and increasing competition from rivals.

It said that its investment in Grofers will generate better outcomes than its in-house grocery effort.

Tata Power share price will also be in focus today.

Tata Power and Adani group have been told to submit revised bids for South East UP Power Transmission by the power transmission company’s lenders.

Both had submitted binding offers for the company in the second week of August alongside three other bidders including Power Grid Corporation.

However, both of their offers were conditional on lenders securing reversal of a suspension order on a 1,600-km project the company is carrying out, imposed by the state power transmission authority for delays in completion.

People close to the development said the lenders are not agreeable to this condition.

Tata Power and Adani have submitted offers upwards of Rs 26 bn. Tata has bid through its arm Resurgent Power Ventures.

According to reports, the competition for acquisition is indicating strong investor interest in the power transmission sector, which is dominated by public sector companies.

SREI’s Rs 350 bn Loan

Banks may classify Rs 350 bn loan given to SREI group as non performing asset (NPA) by the end of this quarter ending in September after the national company law tribunal (NCLT) set aside the previous order restraining banks from such classification.

According a report, public sector banks Indian Bank and Canara Bank have exposures of Rs 20 bn and Rs 12 bn, respectively, to Kolkata-based SREI group, while private sector banks ICICI Bank and Axis Bank have Rs 8 bn each.

Since 2019, the company has been pursuing a merger of its two group companies, SREI Infrastructure and SREI Equipment Finance.

In December 2020, the NCLT granted relief to SREI by directing banks and financial institutions to not take any coercive action against the company after it had approached the NCLT bench requesting moratorium on coupon payments and postponement of redemption dates until the merger is complete.

However, UCO bank along with the Reserve Bank of India appealed against the order in NCLAT.

Record SIP Numbers Bring Cheer to Mutual Fund Industry

Record systematic investment plans (SIPs) have brought a cheer to the Rs 36-tn domestic mutual fund (MF) industry.

In the month of August, inflows through SIP route touched nearly Rs 100 bn and new SIP registration touched an all-time high of 2.5 m.

This comes even as markets trade at expensive valuations.

The total assets under management (AUM) for SIPs also touched a new record at Rs 5.3 tn.

SIP inflows have been more than Rs 90 bn in each of the last three months. So far this fiscal, inflows through the SIP route have exceeded Rs 460 bn.

In fiscal 2021, even when equity funds continued to witness outflows, SIP had continued to remain strong, bringing in nearly Rs 960 bn of net inflows.

Market experts believe there is scope for the SIP book to swell further driven by penetration of digital platforms.

Strong SIP flows is a big positive for the industry. Typically, SIP investors continue with their investments irrespective of the market levels. On the other hand, investors putting in lump sums tend to churn their holdings more frequently.

For instance, equity inflows in August dropped 62% to Rs 86.7 bn in August against a record Rs 225.8 bn in July.

However, SIP flows increased sequentially.

This just shows that SIP investors are in for a long haul instead of how they used to do it earlier – for an average time frame of three years.

Seeing this from a big picture view, this shows that huge money keeps continuously pouring into the stock markets despite all the bad news about the economy.

How SIP activity pans out in the coming months remains to be seen. Meanwhile, stay tuned for more updates from this space.

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

For information on how to pick stocks that have the potential to deliver big returns,

Read the latest Market Commentary

What else is happening in the markets today? Dig in…

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Stock Market Updates

Sensex Ends 127 Points Lower; Reliance Industries & ICICI Bank Among Top Nifty Losers (Today’s Market)

Sep 13, 2021 Closing

Indian share markets ended on a negative note with the Sensex down by 127 points and the Nifty ending down by 14 points.

P&> HYGIENE at All Time High; BSE FMCG Index Down 0.1% (Today’s Market)

Sep 13, 2021 02:00 PM

P&> HYGIENE share price has hit an all time high at Rs 14,553 (up 0.7%). The BSE FMCG Index is down by 0.0%. Among the top gainers in the BSE FMCG Index today are P&> HYGIENE (up 0.7%) and NESTLE (up 0.1%). The top losers include GODREJ AGROVET and COLGATE (down 0.2%).

ABBOTT INDIA at All Time High; BSE HEALTHCARE Index Up 0.3% (Today’s Market)

Sep 13, 2021 01:30 PM

ABBOTT INDIA share price has hit an all time high at Rs 21,460 (up 2.8%). The BSE HEALTHCARE Index is up by 0.3%. Among the top gainers in the BSE HEALTHCARE Index today are ABBOTT INDIA (up 2.8%) and SANOFI INDIA (up 0.1%). The top losers include BIOCON (down 0.1%) and PIRAMAL ENTERPRISES (down 0.1%).

Sensex Trades Marginally Lower, Dow Futures Up by 142 Points (Today’s Market)

Sep 13, 2021 12:30 pm

BSE Sensex is trading down by 161 points, while the NSE Nifty is down by 38 points.

Sensex Falls 150 Points, Nifty Below 17,350; HCL Tech & ICICI Bank Top Losers (Today’s Market)

Sep 13, 2021 09:30 am

Indian share markets open marginally lower. The BSE Sensex opened down by 149 points, while the Nifty is trading lower by 41 points.

CAPLIN POINT Share Price Up by 5%; BSE HEALTHCARE Index Down 0.0% (Today’s Market)

Sep 13, 2021 09:30 AM

CAPLIN POINT share price is trading up by 5% and its current market price is Rs 989. The BSE HEALTHCARE is down by 0.0%. The top gainers in the BSE HEALTHCARE Index is CAPLIN POINT (up 5.1%). The top losers are CADILA HEALTHCARE and TORRENT PHARMA (down 0.1%).

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