Justdial, an online database listing company that raised Rs 950 crore when it sold shares for the first time in May 2013, is now trading below its listing price.
One direct benefit is that the companies start benefitting from the inventory gains which reflects in the company’s net profit.
Essel’s financials are superior to its peers. Besides, Essel has also shown consistency in its performance over the past few years.
Three key technical indicators — relative strength index (RSI), put-call ratio (PCR), and stochastic oscillator — are indicating that markets are now in an oversold zone.
Indian steel manufacturers, which were under pressure due to overcapacity in the Chinese market, may find some relief.
The government of China has laid out a reform plan to improve the high supply issue by shutting down the junk companies.
Unlike metal companies, which have high debt and are seeing losses in the weak commodity environment, mining companies have managed to sustain their profitability.
Investors are increasing their purchases through systematic investment plans and looking at longer investment horizons, says Nimesh Shah.
While the benchmark indices, Sensex and Nifty, tumbled over 2%, following the rout in Asian markets, the small and mid-cap indices on the BSE slipped just 1%.
United Spirits’ (USL) decision to approach the Board for Industrial and Financial Restructuring (BIFR) is based on the sharp fall in its net worth.
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