The equity benchmark Sensex scaled a new all-time high of 40,816.38 in the morning trade on November 20. Not just the Sensex, even the Nifty has been rallying at a time when concerns over the Indian economy are growing, with macroeconomic data pointing to a slowdown.Why is the market behaving differently from the economy?"Markets usually run ahead of macros and price future growth. There are three positive indicators for growth – reduction in the corporate tax rate, proposed divestment of large public sector units and a possible resolution of the US-China trade impasse. Therefore, we see growth coming back in 2020. Now, we expect broader markets to outperform," said Sanjiv Bhasin, Director, IIFL Securities.Close Experts and brokerages are of the view that the market is factoring in a recovery in the economy. related news The role of P/E multiple in deciding investment returns Sensex hits a new high, 4 factors that could be fuelling optimism Hot Stocks: Short-term trend … [Read more...] about Economy in stress and markets on a high; time to be careful?
Limitation period for filing appeal in high court
The Reserve Bank of India (RBI) on November 19 told the Bombay High Court that depositors of the Punjab and Maharashtra Cooperative (PMC) Bank can now approach the administrator in case of medical emergencies necessitating withdrawals of up to Rs 1 lakh, news agency PTI reported.The RBI filed an affidavit responding to various petitions that have challenged the curbs it has placed on withdrawals. The central bank mentioned the Rs 50,000 withdrawal ceiling for scenarios like marriage, education, livelihood and other “hardships”.Depositors of the crisis-hit lender who are facing hardships can approach the RBI-appointed administrator in order to seek withdrawal of amounts up to Rs 1 lakh, the central bank counsel Venkatesh Dhond told a division bench of the HC. The curbs, the bank said, were necessary to safeguard the interests of the bank and its depositors, the affidavit stated.Close Also read: Top PMC Bank officials hid HDIL accounts from system, says RBI related news … [Read more...] about PMC Bank case: Depositors can approach RBI administrator for emergency withdrawals of up to Rs 1 lakh
In the November 15 episode of In The News podcast, Moneycontrol's Jerome Anthony talks to Siddhesh Raut and Shraddha Sharma to catch up on the top news developments in India.Raut talks about the INX media case, where Congress leader P Chidambaram has been denied bail by the Delhi High Court. He also discusses the latest developments in Delhi, where air pollution remains a burgeoning problem.Close Sharma, speaks about the achievements of CJI Ranjan Gogoi, who is set to retire on November 17.For more, tune in to In The News podcast.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app. … [Read more...] about In The News | P Chidambaram denied bail; CJI Ranjan Gogoi retires; and Delhi’s battle with pollution
The festive cheer was visible on D-Street in the last hour of the trading session as bulls helped the market to reverse losses. The Sensex recouped losses, rising 37 points to 39,058; while the Nifty closed 1.30 point higher at 11,583.For the week, the Nifty closed flat with negative bias down 0.75 percent while the Sensex fell 0.6 percent for the week ended October 25. Experts feel that in the coming week a lot of action will be centred on banking stocks. After stellar numbers from State Bank of India, more PSBs will declare their results in the coming week.Corporate earnings have been muted throughout the year and are expected to be tepid in the near to medium-term as well. Earnings risks continue to be tilted to the downside on account of the underlying weak demand scenario, the uneven asset quality trends in financials and the deflationary trends in commodity prices.Close "For 2QFY20, we expect Nifty sales/PAT to decline by 2-8 percent. The silver lining is that the … [Read more...] about Earnings hits and misses: Top 10 companies September quarter results this week
Telecom stocks came under pressure on November 14 after the Department of Telecom (DoT) had issued notice to telecom operators to pay their revenue share dues within three months as directed by the Supreme Court, according to an industry source.The DoT has given option to telecom operators to clear all the dues on self-assessment basis.Bharti Airtel share prices were down over 3 percent intraday on November 14 and was the top Sensex loser while Bharti Infratel tanked close to 8 percent following the notice.Close Vodafone Idea share prices plunged over 16 percent following the news while the company had been in news around the buzz that the company might exit India operations. related news Yes Bank share price reverses early losses on NPA divergence, up 3% Kalpataru Power sells subsidiary, share price rises 6% Shree Cements share price rises 4% after fixing floor price for QIP The apex court upheld the definition of Adjusted Gross Revenue (AGR) calculation as … [Read more...] about Bharti Airtel, Vodafone Idea share prices fall 3-15%; telecom stocks tumble after DoT asks telcos to clear AGR dues