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Price as on 14 Dec, 2020 10:08 AM, Click on company names for their live prices.
FPI buying continues unabated, pushing the benchmark indices to record levels. When money flows like this, market has only one way to go – up. But investors should remember that valuations are high and risky. Sharp surge in Covid infections in the US, recent spike in infections in Germany, S Korea, etc, the farmer agitation lingering without a settlement and the possibility of a Brexit without a deal are areas of concern. Investors have to be cautious.
– VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
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Maruti Suzuki gains after reports say it may reenter diesel segment
Price as on 14 Dec, 2020 09:38 AM, Click on company names for their live prices.
OPENING BELL: Sensex rises 230 points, Nifty at 13,580; L&T, ONGC gain 2% each
Pre-open session: Sensex rises 90 points, Nifty above 13,550
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Bank recap likely in Q4
The Finance Ministry will take a call on residual Rs 4,500 crore capital infusion in the public sector banks in the fourth quarter of this fiscal, sources said. Following the financial performance review after the first half, sources said, it was found that Punjab & Sind Bank, out of the 12 PSBs, was in need of Rs 5,500 crore to meet the regulatory requirement. So, the government approved capital infusion through preferential allotment of equity shares last month.
Top CEOs expect rapid rebound now
About 75% participants in an exclusive ET CEO poll said the economy and earnings are set to recover faster than expected from the pandemic-induced recession. Nearly half the CEOs polled believe that economic growth will range 7-10% in FY22. Demand, which has grown ahead of expectations so far, is likely to maintain the same pace for the rest of FY21. 75% of poll participants said the revenue growth of their companies is likely to top 10% in FY22.
17% jump in whistleblower cases in Nifty firms
Erosion of about Rs 4,000 crore of market-cap of the UPL stock in the wake of a whistle-blower complaint yet again underscored the significance of serious whistle-blowers in India Inc. An analysis by the ET Intelligence Group has revealed a 17% increase in whistle-blower complaints received by Nifty50 companies in 2019-20, with 19 member companies cumulatively disclosing a record number of 5,307 complaints. Just three accounted for 70% of these complaints, with IT firm Wipro topping the list, followed by SBI and Tech Mahindra.
Bharat Bond ETF-III in the works
The government is working towards launching the third tranche of Bharat Bond ETF. The Bharat Bond ETF invests in debt of central public sector enterprises and has seen high interest from investors in the past two tranches. The first tranche of Bharat Bond ETF raised Rs 12,400 crore in December last year with maturity options of three and 10 years. However, the…
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