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Emerging-market equities look set to post double-digit returns next year after a tumultuous 2018 in which they tumbled into the bear market territory, Bloomberg reported quoting Goldman Sachs.
“With the U.S. economy likely to expand through 2020 and China managing its bumpy slowdown with bouts of stimulus, developing-nation shares will probably return 12 percent in dollar terms while assets as a whole will post modest gains in 2019,” Bloomberg reported quoting the brokerage's research report. (Click here to read the full story)
About 53.5 lakh shares of ICICI Bank changed hands in a block deal, according to Bloomberg data. Buyers and sellers were not known immediately.
Shares of Dewan Housing Finance Corporation Ltd. rose as much as 6 percent to Rs 238.80 after the company announced its quarterly results for the July-September period. Besides, the company's board also approved the debenture issue of worth Rs 10,000 crore.
Key earnings highlights (Q2, YoY)
Shares of Forbes & Co hit an upper circuit of 10 percent for the second day to trade at Rs 2,471.
“The company plans for a separate listing of Eureka Forbes Ltd., the water purification unit of publicly traded Forbes & Co., and sales of the commercial real estate will also be considered,” Bloomberg reported yesterday quoting its Executive Director Jai Mavani. (More details here)
Trading volume was four times its 20-day average, Bloomberg data showed. The stock rose 21 percent in the last five days.
Kotak Mahindra Bank Ltd.'s Managing Director and CEO Uday Kotak welcomed the decisions taken at the Reserve Bank of India's recent board meeting, and said the outcomes will be positive for the economy, PTI reported.
“I am very happy that there are positive outcomes which ultimately help the economy. I am glad that the board had a debate and I respect the judgement of the board,” the newswire agency reported attributing to Kotak.
The government has no formal proposal for a relief package for the telecom sector, Bloomberg reported quoting Telecom Secretary Aruna Sundararajan.
About 13 lakh shares of Ashok Leyland changed hands in a single block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of the state-run lender rose as much as 2.1 percent to Rs 112.50.
Bank of Baroda agreed to sell a 4 percent stake in Clearing Corporation of India Ltd. to HDFC Bank at Rs 620 a share, with consideration aggregating to Rs 124 crore, according to its exchange filing. After the acquisition, HDFC Bank will increase its stake in CCIL to 9 percent from 5 percent.
Adani Gas Ltd. received an approval from the Petroleum and Natural Gas Regulatory Board to expand its operations in 13 new Geographical Areas, according to its media statement on the exchanges.
Shares of Adani Gas hit an upper circuit of 20 percent to Rs 97.80. The stock rose over 28 percent since its listing.
Nifty’s 10,700 call option contract was among the most active option contracts on National Stock Exchange.
Premium on the contract fell 38.29 percent to Rs 50.60. Over 14.93 lakh shares were added to the open interest which stood at over 42.74 lakh shares.
Shares of the Mukesh Ambani-led company traded lower for the second day and fell as much as 2.7 percent, the most since Oct. 30, to Rs 1,107.05.
Reliance Industries traded at 16 times its estimated earnings per share for the coming year, according to Bloomberg data.
About 17.5 lakh shares of South Indian Bank changed hands in a block deal, according to Bloomberg data. Buyers and sellers were not known immediately.
Shares of Minda Corp rose as much as 10.6 percent, the most since Oct. 17, to trade near a two-month high at Rs 145.
The company reduced its stake in its joint venture with Japan-based Furukawa Group from 51 percent to 25 percent.
Trading volume was 26.2 times its 30-day average, Bloomberg data showed. The stock traded at 18 times its estimated forward earnings per share for the coming year.
A quick look at the corporate insider trades reported on Tuesday.
— BloombergQuint (@BloombergQuint) November 21, 2018
Read: https://t.co/3jSEC8uHRg pic.twitter.com/BnBVxRvy76
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