Promoters of select companies have used the stock selloff as an opportunity to lap up shares and increase holdings through the turbulence in the market despite uncertain near-term outlook. The question is, should that be cue for investors to look at these stocks as they hunt value? Data available with BSE showed promoters of nearly 300 companies bought shares from the open market amid the recent bloodbath on Dalal Street. Prominent among them have been Tata Group (Tata Chemicals, Tata Consumer Products, Tata Power and Tata Steel), Bajaj (Bajaj Auto, Bajaj Finance, Bajaj Finserv, Bajaj Holdings), Axis Bank, Dabur India, HCL Technologies, Maruti Suzuki, PVR and Sun Pharmaceuticals. Shares of these companies have plunged between 17 per cent and 72 per cent in the massive stock selloff seen between February 1 and March 25. Why does a promoter raise stake in his own business? In most cases, they do so when they find value in stock or prepare for a positive development in the company. … [Read more...] about Promoters just lapped up these 300 stocks; is that cue for you?
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SYDNEY: Japanese stocks retreated on Monday as the coronavirus outbreak worsened over the weekend and more countries imposed or tightened lockdown measures, raising fears that Tokyo could also go into its first-ever lockdown. The benchmark Nikkei average dropped 1.6% to 19,084.97 after Friday's 3.9% gain. The Nikkei's volatility index, a measure of investors' volatility expectations based on option pricing and considered to be a fear gauge, rose 4.2% to 54.98, but still off a nine-year peak of 60.86 hit on March 16. More than 662,700 people have been infected by the novel coronavirus across the world and 30,751 have died, according to a Reuters tally. U.S. President Donald Trump on Sunday extended his stay-at-home guidelines until the end of April, dropping his earlier plan to get the economy up and running by mid-April after a top medical adviser said more than 100,000 Americans could die. British authorities warned that lockdown measures could last months, while Japan was set to … [Read more...] about Japanese shares drop on fears of coronavirus forcing Tokyo into lockdown
“Market consensus is that this frightening figure was already priced in or could have been worse. I don’t buy this in all honesty. I think markets seem to not realize the true nature of what is going on and are priced for perfection.” … [Read more...] about European stocks close third straight day higher; emergency fund vote eyed
“My big hang-up here is when the curve does start to flatten, that doesn’t mean we can return to normal human and economic behavior,” he said. “If we do return to normal human and economic behavior, we risk the chance the curve goes parabolic again. Just from the perspective of how long this potentially can last, there’s still a great deal of uncertainty.” … [Read more...] about GLOBAL MARKETS-Stocks down on virus’ economic toll; dollar falls further
Energy stocks .SXEP shrugged off a slump in oil prices, adding about 3%. However, the gains were meagre compared to what has been lost over the past month, when a crash in prices had seen the sector plumb a 24-year low and prompted widespread scaling back by major producers. … [Read more...] about European shares reverse course to end higher on defensive plays
Aldi has confirmed it will prioritise essential grocery items after shoppers noticed Special Buys products were not available in stores - as supermarkets around the country introduce tough restrictions to cope with a surge in demand (picture of empty toilet paper shelves at Aldi) … [Read more...] about Aldi Australia announces it will prioritise essential grocery items over its popular Special Buys catalogue after customers noticed they were gone