It's a skewed market! While Nifty trades above its 10-year average P/E ratio, over half of the index stocks trade at a discount to their 10-year average price-to-earnings ratios, while 32 trade at a discount to their 10-year average price-to-book (P/B) ratios — a valuation gauge based on assets of a business. This has given rise to a situation where majority of the Nifty stocks trade at lower valuations while a few continue to command premiums.
STREET PULSE: Where we stand  | SGX Nifty traded some 25 points higher at 7 am (IST), signalling a possible positive start for Dalal Street. Asian shares fell as fears of a drawn out Sino-US trade war & Hong Kong protests haunted investors. MSCI's index for Asia-Pacific shares outside Japan fell 0.26% while Nikkei tumbled 1.28%. Wall Street fell overnight, as bond yields resumed their August downturn, raising concerns about the state of the economy. Dow fell 1.5%, while S&P500 dropped 1.24% and the Nasdaq 1.2%. Read More |
| Crude oil prices edged lower, offsetting narrow gains in the previous session. Brent crude futures fell by 11 cents to $58.46 a barrel while WTI futures slipped by 12 cents to $54.81. Read More |
| LOOK WHO'S |  |
Embracing Change... Reliance Industries on Monday signalled a tectonic shift in its decades-long, successful business model of going it alone by proposing to offload stake in its oil-to-chemicals business to Saudi Arabian giant Aramco. It also announced plans to forge partnerships for major businesses with global giants and confirmed reports of strategic interest in telecom and retail businesses. The move comes amid investor concern about the ability of new businesses to generate cash flows to repay debt. Chairman Mukesh Ambani said RIL aims to be a 'zero net-debt company' in 18 months. Analysts said the move should earn the stock a re-rating.
Read More Startup booster... Early-stage technology and startup deal activity is set to intensify further with venture capital firms such as Accel Partners and Lightspeed Venture Partners expected to raise fresh capital and several other funds, both old and new, stepping up investments in the country. Apart from the bigger and better known VCs, a group of funds from the US, Japan, South Korea and China, which were looking at India from the sidelines, are now co-investing with larger funds.
Read More | WHO'S |  |
Once a high-flier, now no taker...
Creditors' hopes of resurrecting Jet Airways and salvaging some value from the bankrupt airline were dealt a fresh blow on Monday as two potential investors Vedanta promoter Anil Agarwal's family trust Volcan Investment backed out while Etihad Airways, which already owns a minority stake in Jet, said it was not interested in reinvesting in the airline.
Read More Takeover battle... In a major setback for the Lodhas in their fight for control of the MP Birla Group, a court-appointed committee has decided not to support a resolution seeking Harsh Vardhan Lodha's reappointment as director on the board of the group's three listed entities — Birla Corporation, Vindhya Telelinks and Birla Cable. Lodha, who currently heads the group, has challenged the move in Calcutta High Court.
Read More Meanwhile... Sales of residential units in top cities remained flat in June quarter even as fresh launches rose. Hyderabad (33%), followed by Kolkata (25%) were among five cities that saw higher sales, while NCR posted the steepest drop in sales at 19%.
Buy
No comments:
Post a Comment