Over 99 percent of the demonetized Rs 500 and Rs 1,000 notes are back in the banking system. According to the RBI annual report Rs 15.28 lakh crore came back, out of Rs 15.44 lakh crore in circulation. In the early days of demonetisation, experts had estimated that nearly Rs 3 lakh crore of unaccounted money would not come into the system. Then Attorney General Mukul Rohtagi is on record saying that Rs 4-5 lakh crore would probably not find its way back. … [Read more...] about One year after demonetisation, the government has data to show it worked
At CMP of Rs. 1,434 (Face value: Re. 1), the stock trades at a P/E of 67x on FY18 EPS which is at premium to its peers in the sector. Overall the rally in FMCG stocks is owing to a rush by investors to grab a piece of India's consumer demand story which has rerated the valuation of FMCG companies to the highest in nearly three decades. … [Read more...] about Eye on RBI policy meet this week; bet on these 2 Nifty stocks for better returns
“The Nifty is starting the new series with almost 15 million shares, which is the highest OI at inception seen in last six months. The continued pressure seen during the month can be attributed to the fresh addition during the settlement week,” ICICIDirect said in a report. … [Read more...] about Bloodbath on D-Street! Sensex plunges 1,000 pts; 5 factors weighing on market
According to reports Axis Bank, despite its poor showing, has managed to get a private equity fund willing to pump money into it. Axis Bank has, however, denied the news, but has accepted that it continues to explore various means of raising capital. The report also points out that other suitors may be interested in picking up stake in Axis Bank. … [Read more...] about Why it would be a good idea for the government to get PSU banks married off
SEBs acted smartly in the falling tariff scenario by going back on their signed contract of buying power which at the time of signing were the lowest bid. This resulted in a complete turmoil in the sector and prompted the central government to come out with power projects of their own which were backed by it. … [Read more...] about Is it labour pains for the wind power sector?