Author Archives: nimishshah

KRBL also resigns by auditor

stock market news

KRBL, the market leader of Mumbai-Basmati Rice and top brand owner of India Gate, has removed its auditor. After that there is a huge fluctuation in the stock. Prior to that, the auditors of the likes of Beverajes and Vikrami have also resigned.

KRBL has removed the auditor SSA and Associates. Actually shareholders questioned the auditor’s credentials. Therefore, after the shareholders’ objection, the auditor has been removed. KRBL said in its statement that the auditors did not raise any questions on the company. KRBL has appointed Walker Chandiyok as the new Auditor.

Let’s tell that before this, Auditor Price Waterhouse of Atlanta had resigned, and the stock fell nearly 80 percent below the 52-week high. Manhattan Beverages’s auditor Deloitte had resigned and the stock dropped 80 percent below the 52-week high. Auditor Price Waterhouse of Vikrami had resigned and the stock fell 93 percent below the 52-week high.

Problems with NBFC Growth – Credit Suisse

stock market news

Shares in Mumbai-NBFC and Housing Finance companies are seeing a fall on Wednesday. In fact, Credit Suisse has brought out a report in which credit and liquidity is expected to increase further and there is pressure in NBFCs and housing finance companies.

According to Credit Suisse’s report, in August, the money of debt funds went up to 30 per cent in NBFCs. In August, debt funds had Rs 14 lakh crore and in September, the debt funds were reduced to 12 lakh crore rupees. Debt fund loans of NBFCs and housing finance companies increased to 35% SEBI has fixed the loan limit for NBFCs and housing finance companies by 40 per cent. In many schemes, the loan has reached the limit of 40 per cent. 55 percent loan from debt fund is through a commercial paper.

At the same time, in August, banks’ exposure in NBFCs increased by 43 percent. Banks hold 35 percent of the capital for loans with AAA ratings. It is necessary to keep 70 per cent risk capital for NBFC loan. According to Credit Suisse, NBFC is finding it difficult to get money from banks. There is a shortage of capital in government banks and lack of liquidity in private banks.

Credit Suisse’s report on credit growth said that credit growth of banks in the last two years has been 7 percent, whereas NBFC’s credit growth is 20 percent. Total credit growth in the first quarter was 14%, but in the second half NBFC credit growth would be equal to no. Gross credit growth in the financial year 2019 is expected to be 10 percent.

Profit collection in the market, 383 points broken

stock market news

Under the pressure of selling in the Mumbai-financial and auto stocks, the continuation of the stock market for 3 days has been stalled. At the end of the trading, the Sensex dropped further by 383 points to close at 34,780 level. The Nifty closed 132 points at 10,453 level. Only the IT and FMCG indices in the sectoral index were bullish.

In mid-cap and smallcap shares, with largecap, sales were also seen. The BSE Mid-cap index closed 323.85 points, down 2.23 percent at 14,214.23. The Nifty Midcap Index was down 2.30 percent. BSE’s smallcap index tumbled 2.21 percent.

In the business of trading, IT stocks, ITC, Coal India, Wipro, Infosys, HUL, PowerGrid and Kotak Bank are on the rise. However, there is a decline in YES Bank, Adani Ports, Maruti, SBI, ICICI Bank, TCS, Sun Pharma, Reliance Industries, HDFC, Asian Paints, HDFC Bank.

Nifty closed 9 out of the 11 indices in the pressure of the sell-off. The worst weakness was at 3.41 percent in the Nifty PSU bank index. Bank Nifty slipped 1.57 percent to close at 25,188.60. Apart from this, 2.95 per cent of Nifty Auto, 1.99 per cent in financial services, 2.14 per cent in the media, 2 per cent in the metal, 1.53 per cent in pharma, 1.48 per cent in the private sector, and 2.90 per cent weakness in the realty index. However, the Nifty IT index closed at 0.42 per cent and the FMCG Index gained 0.44 per cent.

On the positive side of positive quarter results, the US markets gained momentum on Tuesday. American markets closed up to two percent Dow Jones climbed 548 points, or 2.17 percent, to 25,798 level. Nasdaq climbed 215 points, or 2.89 percent, at 7,645 level. The S & P 500 index climbed 59 points, or 2.15 percent, to 2,810 levels. Infosys has gained 3.5% in the September quarter due to better results.

Higher Delivery Quantity (15/10/2018)

NAME DELV QTY AVG QTY CLOSE
TVTODAY 156108 15122 407.80
DIXON 72443 8157 2393
EIHOTEL 125493 20463 149.85
DBCORP 170183 30428 189.60
TIINDIA 108839 29962 288.55
VRLLOG 136467 39260 256.50
ORIENTCEM 102989 29723 89.20
APARINDS 39450 11901 573.05
SANOFI 9388 3109 5992.80

Graphite India shares tremendous

bombay-stock-exchange-building-1440388695-1693300

 

MUMBAI: Graphite India has given tremendous profits to the investors in the midst of the beating of shares. In the fourth trading session continuously, there is an additional circuit in the stock of the company. On Monday, the company’s stock also saw an upper circuit with a 5 per cent jump, reaching it at 959.85. The company, which has returned 1100% more in three years to investors, has given 22% profit in the last one week. Meanwhile, the Sensex has witnessed a marginal increase of 0.37 per cent.

Graphite is India’s electrode-making company, and after the recommendation to buy from Bank of America Merrill Lynch (BofA ML), all the money is being run in the company’s shares. In the last four trading sessions no one has sold the shares of the BSE on the counter. ICICI Direct has advised to buy with target of Rs. 1400, while Centrum has given the target of Rs. 1165 while advising the hold.

According to the analysis of the markets, according to the Mojo analysis, compared to the other companies working in this field, the valuation of Graphite India is more attractive. Bank of America Merrill Lynch had also advised the payment of interest on the HEG with Graphite India, though analysis shows that the HEG stock has become expensive. At the same time, shares of Ador Welding and De Nora India are also at an expensive valuation level.

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