When 80-85 per cent stocks are down in the dumps, some as much as 90 per cent, stock picking should be easy, right? Wrong. Many of these may never recover to their old price levels. So, more than stock picking, it should be about eliminating: carefully discarding stocks that have no chance of bouncing back soon. Identifying corporate governance and leverage risks would more or less do the job. That's the money making mantra for the New Vikram Samvat
STREET PULSE: Where we stand Asian shares scaled a three-month high this morning after Wall Street hit all-time peaks amid hopes of progress in Sino-US trade talks and for another dose of policy stimulus from the Federal Reserve this week.
Read More  | SGX Nifty traded 12 points higher at 7 am (IST), signalling some buoyancy on Dalal Street. MSCI index for Asia-Pacific shares outside Japan crept up 0.2% in early trade to its highest since late July. Japan's Nikkei rose 0.6% to reach a ground last trod a full year ago. |
| On Wall Street, the S&P500 gained 0.56% in overnight trade to score a record closing peak, while the Dow rose 0.49% and the Nasdaq 1.01%. |
Oil prices edged lower in quiet trade as concerns about slower economic growth overshadowed signs of a thawing in the trade war between Washington and Beijing. Brent futures fell 3 cents to $61.54 a barrel while WTI crude slipped 9 cents to $55.72.
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Un-Pledged & Happy… Promoters of about 50 listed companies have reduced share pledges in the September quarter at a time when lenders have been invoking those of other firms because of falling stock prices. Analysts' consensus estimates for many of these stocks have gone up between 10% and 40% following the redemption of the pledged shares.
Read More | US Fed expected to cut rates tomorrow >>> |
| Brokerages gung-ho on Tata Motors on JLR show >>> |
Retail Therapy... Sales of apparel, smartphones, electronics and consumer products grew about 7-9% during Diwali thanks to last minute shopping, giving brick and mortar retailers a strong finish to their make-or-break festive season. While purchase of entry-level products expanded at a slower pace, most retailers reported higher demand for mid-to-premium products, indicating lower-income buyers may have either postponed shopping or shifted to discount-led online portals.
Read More Deal Talk... US President Donald Trump said on Monday he expected to sign a significant part of the trade deal with China ahead of schedule but did not elaborate on the timing. "We are looking probably to be ahead of schedule to sign a very big portion of the China deal, we'll call it Phase One but it's a very big portion," he told reporters at Joint Base Andrews before leaving on a visit to Chicago.
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Call Drop... The telecom industry is set for a fresh round of job cuts, combined with a freeze on hiring and increments, after the Supreme Court broadened the definition on adjusted gross revenue, which will add significantly to the cost of carriers such as Vodafone Idea and Bharti Airtel. The two companies — worst hit by the ruling — have less than three months to pay what could add up to more than Rs 80,000 crore in licence fees and spectrum usage charges.
Read More Infy Woes... MCA has sought information on the whistleblower complaint against Infosys management about irregularities that's been made to the US Securities and Exchange Commission and is keeping a close watch. The SEC has initiated a probe against the company following the complaint that has alleged "unethical practices" by the top management of Infosys, listed in India and the US. Infosys said it was "aware of a securities class action lawsuit" in the US and the company intends to defend itself vigorously.
Read More Meanwhile...British Prime Minister Boris Johnson on Monday again failed in his attempt to call for a snap election in December amid the political deadlock over the UK's departure from the European Union (EU). Reacting to the results, Johnson said that his government will introduce a short bill calling for an early election on December 12. This came hours after EU leaders approved the UK's request for a three-month extension to the Brexit process.
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