Stock economic – Jamiron http://jamiron.net/ Wed, 01 Dec 2021 08:15:29 +0000 en-US hourly 1 https://wordpress.org/?v=5.8.1 https://jamiron.net/wp-content/uploads/2021/10/icon-20-120x120.png Stock economic – Jamiron http://jamiron.net/ 32 32 Stock market update: fertilizers stock up as the market rises https://jamiron.net/stock-market-update-fertilizers-stock-up-as-the-market-rises/ Wed, 01 Dec 2021 05:40:00 +0000 https://jamiron.net/stock-market-update-fertilizers-stock-up-as-the-market-rises/ NEW DELHI: Fertilizer stocks traded higher on Wednesday at 11:10 am Chambal Fertilizers and Chemicals (up 8.17%), Madras Fertilizers (up 6.95%), National Fertilizer (up 6.61%), Rashtriya Chemicals and Fertilizers (up 5.37%), Nagarjuna Fertilizers & Chem (up 4.93%), Tranvancore Fertilizers & Chemicals (up 4.41%), Southern Petrochemicals Industries (up 4.28%), Gujarat Narmada Among the top winners were […]]]>
NEW DELHI: Fertilizer stocks traded higher on Wednesday at 11:10 am

Chambal Fertilizers and Chemicals (up 8.17%), Madras Fertilizers (up 6.95%), National Fertilizer (up 6.61%), Rashtriya Chemicals and Fertilizers (up 5.37%), Nagarjuna Fertilizers & Chem (up 4.93%), Tranvancore Fertilizers & Chemicals (up 4.41%), Southern Petrochemicals Industries (up 4.28%), Gujarat Narmada Among the top winners were Valley Fertilizers (up 3.74%), GSFC (up 2.91%) and Mangalore Chemicals & Fertilizers (up 1.44%).

Sikko Industries (-3.96%) was among the main losers.

The NSE Nifty50 index traded 209.25 points at 17,192.45, while the 30-stock BSE Sensex index was up 704.92 points to 57,769.79 around 11:10 a.m.

IndusInd Bank (up 5.19%), Eicher Motors (up 4.44%), Maruti Suzuki (up 4.16%), Axis Bank (up 3.05%), Tech Mahindra (up 3.0%), Tata Motors (up 2.75%), Hindalco Industries (up 2.64%), JSW Steel (up 2.58%), HDFC (up 2.48%) and State Bank of India (up 1.94%) were among the top winners of the Nifty pack.

On the other hand, Dr Reddys Laboratories (down 1.31%), Divis Laboratories (down 1.14%), Oil & Natural Gas Corporation (down 0.81%), Power Grid Corporation of India (down 0.77%), Indian Oil Corporation (down 0.63%), Sun Pharmaceutical Industries (down 0.61%), Shree Cement (down 0.47%), Cipla ( down 0.42%) and Titan Company Ltd (down 0.11%) were trading in the red.


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Inflation could hamper nascent economic recovery https://jamiron.net/inflation-could-hamper-nascent-economic-recovery/ Sun, 28 Nov 2021 23:15:00 +0000 https://jamiron.net/inflation-could-hamper-nascent-economic-recovery/ Indeed, while much of the organized business sector is doing very well, having negotiated the supply disruptions – reflected in the strong tax collections – one is less sure of the state of the rest of the economy. economy. Rising prices and high input costs could affect demand, slowing the pace of the recovery in […]]]>
Indeed, while much of the organized business sector is doing very well, having negotiated the supply disruptions – reflected in the strong tax collections – one is less sure of the state of the rest of the economy. economy.

Rising prices and high input costs could affect demand, slowing the pace of the recovery in the coming months. This is worrying for sectors such as two-wheelers where demand is otherwise low.

Indeed, the sharp drop in tractor sales in October raised concerns about the conditions of the rural economy. Bank of America analysis reveals that rural wage growth has slowed, averaging 2.7 percent year-on-year over the April-July period, compared to a much better 7.4 percent year-on-year increase over the course of the period. from the same period last year. In addition, the deceleration was more marked for non-farm wages than for farm wages.

Driven by an increase in rural unemployment which jumped to 7.91% in October from 6.06% in September, overall unemployment rose from 6.86% to 7.75%, according to data from the CMIE.

At the same time, with the weakening of favorable base effects, growth in manufacturing output moderated sharply to 3.1% yoy in September from 12% yoy in August, with industry leading the way. the drop, which is sort of a reality check.

Indeed, while much of the organized business sector is doing very well, having negotiated the supply disruptions – reflected in the strong tax collections – one is less sure of the state of the rest of the economy. economy.

The good news is that exports are on a roll; Merchandise exports increased for the 11th consecutive month to $ 35.65 billion, up 43% year-on-year in October and 36% from October 2019. In addition, non-petroleum and non-gemstone products and jewelry accounted for a significant share of imports in September and October, reflecting a pickup in business activity.


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D-Street feels the tension; indices plummet by 3% https://jamiron.net/d-street-feels-the-tension-indices-plummet-by-3/ Sat, 27 Nov 2021 04:04:00 +0000 https://jamiron.net/d-street-feels-the-tension-indices-plummet-by-3/ Mumbai: Indian stock indices fell 3% on Friday, following the fall in Asian markets as the detection of a new strain of coronavirus raised concerns that it could undermine the global economic recovery. While the likely impact of the new variant is unclear, investors are concerned about its spread and the prospect of further lockdowns […]]]>
Mumbai: Indian stock indices fell 3% on Friday, following the fall in Asian markets as the detection of a new strain of coronavirus raised concerns that it could undermine the global economic recovery.

While the likely impact of the new variant is unclear, investors are concerned about its spread and the prospect of further lockdowns across the globe. Many countries are tightening travel after the discovery of the new variant of Covid-19 in South Africa earlier this week. Reports suggest the new variant may be more heritable.

The Sensex lost 1,688 points or 2.9% to close at 57,107.15, after briefly slipping below 57,000 during the day. The Nifty also briefly broke below the 17,000 mark before closing at 17,014.80, down 521.45 points or 3% from the previous close. Elsewhere in Asia, the indices fell 0.6% to 2.7%. The carnage spread to Europe and the United States. Markets in France, UK and Germany collapsed 3.6-4.8% as the Dow fell more than 1,000 points at the start of trading.

The Nifty’s fall below critical technical support of 17,200 opened up the likelihood that the index would fall another 2-4%, analysts said.

“The new variant of Covid is a source of great concern but we will have to wait for its exact impact. The market was a little ahead of its fundamentals,” said Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Co. “It is likely the market will remain in a correction-to-consolidation mode for some time. ”

India’s VIX volatility indicator, which measures the market’s perception of short-term risk, jumped 25% to 20.80. Foreign portfolio investors (REITs) offloaded shares worth Rs 5,785.83 crore while domestic institutional investors (DII) bought shares worth Rs 2,294.11 crore on Friday .

The loss of more than 4% this week pushed the benchmarks to their worst weekly performance since January. Indices have fallen 8% from their October records, Covid fears are accelerating the decline.

Office AND

Europe’s largest economy, Germany, has seen the biggest daily increase in new Covid cases since the outbreak began in the past 24 hours. The death toll in the country has exceeded 100,000. Other countries like the Czech Republic, Portugal, Slovakia and Belgium, among others, have imposed strict restrictions or are in the process of putting more rules in place. strict to prevent the spread of the virus.

“This is just the start, little is known about it and, on the positive side, it is still very limited at the moment in terms of spread,” said Andrew Holland, CEO of Avendus Capital Alternate Strategies. “We have to see if the current vaccines work against this. The indices could drop a few more percentage points.”

Earlier this month, the World Health Organization said the current rate of transmission in the 53 countries of the WHO European Region was “of serious concern”.

The new concerns over Covid have erupted at a time when investors are already worried about the impact of the imminent withdrawal of the US Federal Reserve’s bond purchase program. Wall Street is increasingly betting that the US central bank will step up the pace of cutting stimulus and raise interest rates sooner to contain rising inflation, leading to a stronger dollar and foreign investors pulling money from riskier emerging markets, including India.

“The correction started on the US taper tantrum and REIT profit reservation due to India’s massive outperformance against other peers and accelerated due to variant concern. of Covid, ”Shah said.


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Marico share price: Marico share drops 0.34% while Sensex increases https://jamiron.net/marico-share-price-marico-share-drops-0-34-while-sensex-increases/ Thu, 25 Nov 2021 06:59:00 +0000 https://jamiron.net/marico-share-price-marico-share-drops-0-34-while-sensex-increases/ The shares of Ltd. fell 0.34% to Rs 545.15 in Thursday’s 12:29 am (IST) session, even as the benchmark Sensex shares traded 349.12 points higher at 58,690.11. Earlier today, the title saw a gap at the start of the session. The stock listed a 52-week high of Rs 606.0 and a 52-week low of Rs […]]]>
The shares of Ltd. fell 0.34% to Rs 545.15 in Thursday’s 12:29 am (IST) session, even as the benchmark Sensex shares traded 349.12 points higher at 58,690.11.

Earlier today, the title saw a gap at the start of the session. The stock listed a 52-week high of Rs 606.0 and a 52-week low of Rs 362.05 on NSE. About 88,325 shares changed hands on the clock until 12:29 p.m. (IST).

The stock opened at Rs 550.0 and hit an intraday high and low of Rs 550.0 and Rs 542.55 during the session so far. The script cited a price-to-earnings (PE) ratio of 59.17, earnings per share (EPS) of Rs 9.22, and price-to-book (PB) of 16.38, while return on equity ( ROE) amounted to Rs 36.49.




Promoter / FII Holding
The promoters held 59.52% of the company’s capital as of November 25, while the holdings of FII and MF amounted to 25.92% and 2.73% respectively.

Key financial data

With a market capitalization of Rs 70,475.5 crore, the company operates in the personal care sector. For the quarter ended Sep 30, 2021, the company reported consolidated sales of Rs 2,444.0 crore, down 4.23% from the previous quarter at Rs 2,552.0 crore and down 21.23% compared to the same quarter a year ago. The company reported net profit of Rs 309.0 crore for the most recent quarter, up 17.05% from the corresponding quarter of last year.

Technical indicators
The stock’s Relative Strength Index (RSI) stands at 43.13. The RSI hovers between zero and 100. Traditionally it is considered an overbought condition when the value of the RSI is above 70 and an oversold condition when it is below 30. Analysts say the RSI indicator should only not be viewed in isolation, as it may not be sufficient to take a trade call, in the same way that a fundamental analyst cannot give a ‘buy’ or ‘sell’ recommendation using a single valuation ratio .


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Bitcoin mining on Navajo lands creates jobs and income while exposing economic disparities https://jamiron.net/bitcoin-mining-on-navajo-lands-creates-jobs-and-income-while-exposing-economic-disparities/ Mon, 22 Nov 2021 19:51:41 +0000 https://jamiron.net/bitcoin-mining-on-navajo-lands-creates-jobs-and-income-while-exposing-economic-disparities/ Tiffany Nelson knew little about cryptocurrency when she first stumbled upon a temporary job in 2019. A Canadian company called Westblock was recruiting “labor,” in Nelson’s words, to help offload boxes in a data center on land owned by the Navajo Nation. A Navajo living on the tribal lands, Nelson considered work rare for its […]]]>

Tiffany Nelson knew little about cryptocurrency when she first stumbled upon a temporary job in 2019. A Canadian company called Westblock was recruiting “labor,” in Nelson’s words, to help offload boxes in a data center on land owned by the Navajo Nation.

A Navajo living on the tribal lands, Nelson considered work rare for its proximity to his home. With a total population of the tribe of 400,000 people, only about 170,000 live on the reserve. This is most often attributed to poor economic conditions and scarce employment opportunities, especially for women.

Although grateful for the opportunity, Nelson’s employer did not initially tell him what the business was doing on the New Mexico reservation.

Another Navajo woman, Kennette Phillips, who was hired around the same time, recalled similar fears about her employer’s mysterious business.

While security guards guarded the site, Phillips, Nelson, and another employee unloaded crates and then began installing machines inside.

“When we opened the boxes, we found these machines that looked like toasters,” Phillips recalls. “We weren’t told what they were used for. It seemed a bit vague… we didn’t know if what we were doing was legal.

Tiffany Nelson (Photo courtesy of Compass Mining)

Part of their growing concern has been spurred by the crisis rate Indigenous women have been kidnapped or murdered in Canada and the United States.

When the two women, both single mothers, finally asked their employer what the site would be for, they were relieved to discover that the company intended to use the toaster-type machines to extract the bitcoin.

Bitcoin mining is the computation-intensive process of computers validating the bitcoin transaction network. While the cryptocurrency supply is capped at 21 million coins, it distributes a small portion of that supply to miners for them to contribute computing power, thus securing the network.

The work can be lucrative, especially as the price has more than tripled in the past year. Mining bitcoin requires specialized computers, the infrastructure to host them, as well as a robust and stable power supply.

“Oh wow. Okay,” Nelson recalls, thinking with relief. She didn’t claim to understand how well bitcoin was working at the time, but she did know it was a cryptocurrency. , “like money on the Internet”.

Three years later, Nelson and Phillips run the site’s operations full time. In addition to two other full-time managers who jointly operate day and night, the facility also employs four to six security guards to protect their expensive mining equipment, valued in the tens of millions of dollars, according to the CEO of Westblock. Ken Maclean.

Tap into unused power sources

Like many other bitcoin mining operations, this project benefits from harnessing energy that otherwise would not have been used. After a nearby coal-fired power plant closed, the Navajo Tribal Utility Authority (NTUA), a tribe-owned nonprofit, had an additional 15 megawatt of electrical load and was absorbing the cost.

According to Maclean of Westblock, the energy that NTUA’s operation derives from is a mixture of solar, hydroelectric, nuclear and natural gas, 60% of which is allocated to renewables. The situation reflects the wider and economically challenging energy transition of the Navajo Nation from fossil fuels to renewable energy sources over the past decade.

Historically, most of the tribe’s income came from leasing land to energy extraction companies, with leases for oil and gas extraction operations representing 51% of the tribe’s total income since 2003.

Criticisms of the high energy consumption of bitcoin mining are quick to point out that bitcoin now represents 1% of the planet’s energy consumption. While the direct comparison can be tricky, the computational power meant to secure bitcoin consumes more energy than any refrigerator in the United States, but less than the total energy used to produce paper and pulp in the world, according to the Cambridge University Center for Alternative Finance.

Additionally, Westblock’s bitcoin mining project is currently using 7 megawatts of NTUA power and plans to potentially use all 15 megawatts in the near future. Compared to other areas of the Navajo Nation, the project’s energy use suggests some economic disparity.

A three-hour drive west of the site, in the Black Mesa region, many residents live without electricity or running water.

Kennette Phillips (Photo courtesy of Compass Mining)

Kennette Phillips (Photo courtesy of Compass Mining)

The Navajo Nation’s Need to Diversify Its Economy

But the effort to transfer power from one part of the nation to another is not that simple, according to Carl Slater, a delegate from the Navajo Nation Tribal Council. About the size of West Virginia, the Navajo Nation is the largest independent land authority in the United States, and its electrical grid is not evenly dispersed or connected across its 17 million square acres.

Surprised, to say the least, when he first heard that a developer was mining bitcoin on Navajo lands, Slater told Yahoo Finance that the opportunity could be an economic boon for the nation, if the revenues paid to its public service could end up serving the residents of the nation.

“The public utility that the nation owns should simply have borne the cost of this energy. Using it in a way that generates revenue for the nation is a good thing, but I think there is a shared responsibility between the nation, the utility, and the developer to find a process whereby a larger portion of income can be directed to our local communities, ”Slater said.

Andrew Curley, an assistant professor of geography at the University of Arizona, said the nation’s shift to bitcoin mining is just the latest iteration of their long-standing need to diversify its economy.

“The tribal leaders are trying to make the reserve a place where companies, outside of the extractive industries, can do business and hire people,” said Curley, himself a member of the Navajo Nation, who lives off the land. Reserve.

A sociologist by training whose research focuses on the energy transition of the Navajo Nation, Curley called the bitcoin mining project an “interesting prospect,” but also recognized that the nation’s energy disparity is relative to different local communities. While some communities remain without power, he said utility companies bear the brunt of the blame, explaining that overall, the Navajo Nation “consumes by far the amount of energy it produces.”

Thinking of other economically struggling countries that have adopted or are considering adopting cryptocurrency more broadly, such as El Salvador, Curley is quick to point out the obvious problem of making cryptocurrency a bigger rule in the world. the national economy.

“There is an innate problem and challenge when asking the poorest people to carry out riskier technology transfers,” said Curly.

Although the Westblock mining operation opened in 2020, this year marks the first time the project has made a significant profit. On the other hand, the NTUA tribal utility has yet to disclose its total revenue from the effort, but is expected to do so in early 2022. In addition to the monthly internet and electricity revenue paid to the NTUA, Westblock is also paying taxes, rent for his land lease. in addition to scholarships reserved for the local community.

A person familiar with the Navajo-based operation said the revenue generated by the project this year is “in the millions” and that Westblock is working with NTUA and other tribal chapters to find other sites on the ground, that could be used for bitcoin mining.

“I’m just happy to have a job near my home, especially since so many people lost their jobs during the pandemic,” Tiffany Nelson added. “It was a good race and something that I’m proud to be a part of.”

David Hollerith covers cryptocurrency for Yahoo Finance. Follow it @dshollers.

Read the latest financial and business news from Yahoo Finance

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Ind-Ra, Auto News, ET Auto https://jamiron.net/ind-ra-auto-news-et-auto/ Sun, 21 Nov 2021 08:07:00 +0000 https://jamiron.net/ind-ra-auto-news-et-auto/ New Delhi’s economic recovery is expected to gain ground in the second half of FY22, India Ratings and Research (Ind-Ra) said. As a result, the rating agency expects the economic recovery to accelerate thanks to the mitigation of the impact of the Covid-19 pandemic as well as favorable financing and external demand conditions. Therefore, he […]]]>

New Delhi’s economic recovery is expected to gain ground in the second half of FY22, India Ratings and Research (Ind-Ra) said.

As a result, the rating agency expects the economic recovery to accelerate thanks to the mitigation of the impact of the Covid-19 pandemic as well as favorable financing and external demand conditions.

Therefore, he maintained an “improvement outlook” on domestic companies for the second half of FY22.

“Entities with a strong market share and a healthy balance sheet will continue to post strong earnings, although the margin may moderate. However, sectors that consume raw materials will face challenges in fully passing on the prices of commodities. inputs, ”the agency said.

In addition, he said most sectors will continue to experience increased demand after the second wave of Covid because they were better prepared than during the first wave.

“The fiscal and monetary measures have supported economic activities by maintaining adequate liquidity. Entities have learned to make rapid structural changes after the first wave of Covid and are now in a better position to face challenges if subsequent waves of Covid appear. “

In addition, the rating agency expects the “Production Incentive” (PLI) program in the steel sector in particular to lead to significant investment announcements from large and large companies. small steel companies.

Regarding commodity price volatility, he observed that since the second wave, especially during T2FY22, risk appetite in the system has reasonably improved.

“This is largely due to strong corporate performance, a dynamic external situation and ultra-relaxed and sustained monetary policy conditions. Ind-Ra expects financing conditions to remain favorable in S2FY22 , supported by easy monetary conditions, “he said.


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US STOCKS-Nasdaq Futures at Record High as Economic Concerns Boost Tech Demand https://jamiron.net/us-stocks-nasdaq-futures-at-record-high-as-economic-concerns-boost-tech-demand/ Fri, 19 Nov 2021 11:49:10 +0000 https://jamiron.net/us-stocks-nasdaq-futures-at-record-high-as-economic-concerns-boost-tech-demand/ (For a live blog on the US Stock Market, click or type LIVE / in a news window.) * Futures: Dow down 0.40%, S&P down 0.12%, Nasdaq up 0.41% By Ambar Warrick and Devik Jain Nov. 19 (Reuters) – Futures on the Nasdaq index hit an all-time high on Friday as investors sought economically stable […]]]>

(For a live blog on the US Stock Market, click or type LIVE / in a news window.)

* Futures: Dow down 0.40%, S&P down 0.12%, Nasdaq up 0.41%

By Ambar Warrick and Devik Jain

Nov. 19 (Reuters) – Futures on the Nasdaq index hit an all-time high on Friday as investors sought economically stable sectors after a small delay in voting on the $ 1.75 trillion spending bill dollars from President Joe Biden, while the increase in COVID-19 cases in Europe has also rattled sentiment.

S&P and Dow futures fell, following losses from banks, airlines and other economically sensitive sectors. The uncertainty about rising inflation and the Federal Reserve’s tightening also kept demand for value stocks low.

On Friday morning, the US House of Representatives delayed an early vote on passing Biden’s social programs and the climate change investment bill, and will meet again at 8:00 a.m. EST (1:00 p.m. GMT) to complete the legislation.

In Europe, the increase in COVID-19 cases has seen Austria present plans for a full lockdown, while Germany could follow suit amid a new wave of infections.

Shares of Alphabet Inc, Amazon.com and Microsoft Corp – stocks that have largely withstood economic shocks since 2020, rose 0.3% to 0.5% in pre-market trading.

Chipmaker Nvidia also boosted Nasdaq futures, rising 1.7% in intense trading after posting strong quarterly results on Wednesday night.

In contrast, carriers Delta Air Lines, United Airlines and American Airlines, and cruise lines Norwegian Cruise Line and Carnival Corp fell between 1.4% and 2.3%.

Oil companies Exxon Mobil and Chevron Corp fell 2.1% and 1.8% as crude prices fell, while major banks including JPMorgan Chase & Co and Bank of America fell 0, 9% to 1.1%, following a decline in US Treasury yields.

As of 6:26 a.m. ET, Dow e-minis were down 145 points, or 0.4%. S&P 500 e-minis were down 5.75 points, or 0.12%, and Nasdaq 100 e-minis were up 68 points, or 0.41%.

The S&P 500 and Nasdaq hit record highs on Thursday after strong tech and retail earnings. Both indices were heading for moderate weekly gains, as the Dow Jones was pegged for a second straight week of losses.

Among the major pre-market players, Intuit Inc jumped 10.3% as brokerages raised their price targets on the income tax software company after beating quarterly estimates and upping forecasts. The stock was the first S&P 500 winner in pre-market trading.

Applied Materials Inc fell 5.7% after the chipmaker forecasted first quarter sales and profits below market estimates on supply chain issues. (Reporting by Ambar Warrick in Bangalore; Editing by Maju Samuel)


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paytm stocks: gray market signals muted listing for Paytm https://jamiron.net/paytm-stocks-gray-market-signals-muted-listing-for-paytm/ Wed, 17 Nov 2021 12:50:00 +0000 https://jamiron.net/paytm-stocks-gray-market-signals-muted-listing-for-paytm/ One97 Communications, the parent company of Paytm, is expected to make its muted debut on Indian exchanges tomorrow, bucking the trend set by startups such as Zomato, Nykaa and Policybazaar, all of which had exceptional listings. On Wednesday, a day before its listing, shares in Paytm’s parent company One97 Communications traded hands at a premium […]]]>
One97 Communications, the parent company of Paytm, is expected to make its muted debut on Indian exchanges tomorrow, bucking the trend set by startups such as Zomato, Nykaa and Policybazaar, all of which had exceptional listings.

On Wednesday, a day before its listing, shares in Paytm’s parent company One97 Communications traded hands at a premium of just Rs 20-25 over the final issue price of Rs 2,150 on the gray market. On Tuesday they were trading at a premium of just Rs 30, a mere 1.4% increase from the final issue price,
according to IPO Watch.

The share was trading at Rs 2,300 per share on the gray market on November 7, a premium of Rs 150 or 7% over the issue price. This fell to Rs 80 on the first day of the IPO and at the close of the issue on November 10 it was at Rs 40.

Gray Market Premium (GMP) is a term used in the IPO market and refers to the estimated price at which a stock could be listed. The gray market is unofficial, but investors use GMP as an indicator of the stock’s performance on the quotation. GMP, while a useful indicator, is by no means foolproof. Sometimes it predicts the listing price accurately and sometimes it doesn’t.

ETtech

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Dealers who follow the gray market said ultra-expensive prices, poor financial results and moderate growth prospects were the main reasons for the bad listing.

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Abhay Doshi, co-founder of UnlistedArena, said Paytm was likely to be a flop in its early days, despite the hype it generated as the largest IPO in India. “The valuations of the issue were expensive. In addition, the company has not shown any significant performance in the financial field and it is losing market share,” he added.

Ankur Saraswat, research analyst at Trustline Securities, said the company would do a flat listing. “New investors should wait for a significant correction in stocks and then step into this fintech giant,” he added.

Lukewarm IPO from Paytm

During its IPO, held between November 8-10, Paytm raised Rs 8,300 crore by issuing new shares, while existing shareholders and promoters sold shares worth Rs 10,000 crore. rupees as part of the offer for sale.

The IPO was only subscribed to at 18% on the first day of the tender, with the company having received offers for 88.21 lakh of the 4.83 crore of shares offered. On day 2, it was 48% underwritten, with 2.34 crore bidding received. India’s largest IPO was fully subscribed on day 3 and ultimately went through 1.89 times.


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China’s economic data should show further signs of weakness https://jamiron.net/chinas-economic-data-should-show-further-signs-of-weakness/ Thu, 11 Nov 2021 21:00:00 +0000 https://jamiron.net/chinas-economic-data-should-show-further-signs-of-weakness/ (Bloomberg) – Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Bloomberg’s Most Read The Chinese economy likely continued to weaken across the board in October with few signs of a bottom. A set of key economic data to be released on Monday will be closely scrutinized for […]]]>

(Bloomberg) – Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

Bloomberg’s Most Read

The Chinese economy likely continued to weaken across the board in October with few signs of a bottom.

A set of key economic data to be released on Monday will be closely scrutinized for signs that the slowdown is severe enough to prompt authorities to step up their economic support. The weakness in the economy comes on both the supply and demand side, such as when the economy was initially hit by the virus in early 2020.

But the causes of the supply shocks have shifted to power shortages, Beijing’s environmental restrictions and the crackdown on financial risk that has hit the real estate market, as domestic demand continues to be affected by the Covid strategy. -zero.

To better gauge China’s economic performance at the start of the last quarter of 2021, here’s a guide on what to watch out for in the data:

Production

Power rationing that began in September likely continued into October, while high cost pressures continued to squeeze company profits, both of which limited output at factories. A higher basis of comparison last year could also lower the reading.

Economists expect industrial production to rise 3% from a year ago, the slowest pace since it contracted in early 2020, according to median estimates from a Bloomberg survey . A prominent sub-index in China’s PMI data that measures output also indicated a further slowdown, falling further into contraction territory in October.

The electricity crisis is easing for now, with China’s largest grid operator saying this week that supply and demand have returned to balance in around 88% of the country. However, some heavy-consuming and heavily polluting industries are still limited in some provinces, and with a cold winter expected and additional coal supplies limited, there could be further shortages.

Investment

According to the survey, investments in property, plant and equipment in the first ten months of the year are expected to have slowed to 6.2% from 7.3% in September. This is mainly because real estate investing has likely continued to suffer from the funding crunch for developers amid the turmoil in the real estate market that started with China Evergrande Group.

Although policymakers have started to fine-tune some real estate policies and state media is fueling speculation about easing restrictions, the industry slowdown could still become the main drag on growth, economists say, as the industry and related industries account for a 25% increase in China’s gross domestic product.

Consumption

Consumption has likely taken another hit from the new outbreaks of Covid-19 and China’s zero-tolerance approach, with restaurants or food service and retail sales in physical stores particularly feeling the pain. Consumer confidence has not reached the levels seen before the pandemic, as can be seen in weak data on national holiday spending.

It’s also likely that some people postponed their October purchases to take advantage of the ‘Singles’ Day’ online shopping festival in November, which could weaken reading last month. Economists expect retail sales growth to slow to 3.8% during the month.

Outlook

In light of mounting downward pressure, several economists have lowered their growth forecasts for the next few quarters, including Lu Ting of Nomura Holdings Inc. He expects the worst for China’s growth in this cycle slowdown will occur in the spring of 2022.

“The worst is yet to come,” Lu wrote in a note Wednesday. “Despite an alleviated energy shortage and fine-tuning of real estate restrictions, we believe economic conditions are likely to deteriorate further, as the pain threshold still appears to be reached for Beijing to take concrete action.”

Bloomberg Businessweek Most Read

© 2021 Bloomberg LP


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Stocks tumble on weak economic signals https://jamiron.net/stocks-tumble-on-weak-economic-signals/ Tue, 09 Nov 2021 16:27:59 +0000 https://jamiron.net/stocks-tumble-on-weak-economic-signals/ KARACHI: Bears took control of Pakistan’s stock market on Tuesday as the benchmark KSE-100 was hit hard by the weakening macroeconomic environment in the country. Investors did not find any positive signals amid several negative reports and as a result the KSE-100 index plunged below 47,000 points. Speculation over the delay of the International Monetary […]]]>

KARACHI:

Bears took control of Pakistan’s stock market on Tuesday as the benchmark KSE-100 was hit hard by the weakening macroeconomic environment in the country.

Investors did not find any positive signals amid several negative reports and as a result the KSE-100 index plunged below 47,000 points.

Speculation over the delay of the International Monetary Fund (IMF) loan tranche to Pakistan and growing inflationary concerns have marred the business atmosphere.

The tumble of the rupee against the greenback in the interbank market, together with soaring global coal prices and outflows of foreign funds, made market participants skeptical, who opted for profit taking.

The session started on a low note as investors shed their holdings, causing the KSE-100 index to drop steadily. A brief buying period emerged around noon, but the market was unable to maintain it.

Later in the day, the index remained limited to a range and traded with minor highs and lows.

At the close, the benchmark KSE-100 fell 715.13 points, or 1.52%, to stand at 46,399.91.

Arif Habib Limited, in its report, said a “bloodbath” had been observed on the Pakistani stock exchange due to the further weakening of the Pakistani rupee against the US dollar, concerns about inflation and the resumption of sales abroad.

The market opened on a dark note after the announcement in the morning that the relaunch of the $ 6 billion stalled IMF program depended on the approval of the fund’s two departments before forwarding it to the Board of Directors. administration.

The textiles sector continued to remain under pressure for a second consecutive session amid concerns over the end of the subsidized gas supply.

Institutional activity remained on the selling side due to buyouts by the mutual fund industry.

Inventories were building up in the banking sector, with Kibor rates rising sharply in the past month, where the spread between the six-month Kibor and the policy rate peaked at 162 basis points, against 50 basis points on average.

In the last hour of trading, massive sell-offs were seen across the board mainly because investors took a cautious approach.

Sectors contributing to performance are commercial banks (-123 points), cement (-102 points), technology (-79 points), exploration and production (-63 points) and electricity (- 46 points).

JS Global analyst Waqar Iqbal said the KSE-100 index has moved closer to the red zone since the start of the trading session due to the uncertainty surrounding IMF talks, the rising gas prices for the industrial sector, disagreement between the government and inflationary concerns.

All these reasons led the index to an intraday low of 46,307 (-808 points).

“A cautious approach is recommended as the market is likely to closely follow the upcoming MPS (Monetary Policy Statement) announcement, the weekly inflation reading, developments regarding the IMF program and the MSCI rebalancing (Morgan Stanley Capital International) this month, ”the analyst said.

Overall trading volume rose to 434.7 million shares, from 364.9 million on Monday. The value of the shares traded during the day was Rs 14.3 billion.

The shares of 359 companies were traded. At the end of the day, 48 stocks closed higher, 296 were lower and 15 were left unchanged.

Telecard Limited XB was the volume leader with 33.5 million shares, losing Rs0.02 to close at Rs19. It was followed by Fauji Foods (R) with 28.8 million shares, losing Re1 to close at Rs3.28 and First National Equities with 25.4 million shares, gaining Re1 to close at Rs11.04.

Foreign institutional investors were net sellers of shares worth Rs 121.04 million during the trading session, according to data compiled by the National Clearing Company of Pakistan.


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