High Quality Stocks Are Expensive, but Not in a Bubble
Investing in high-quality (HQ) stocks is a logical thing for a certain section of people. If I have to invest in direct equities and have no expertise or time to actively monitor my picks every day, I would rather choose a Hindustan Unilever or a Nestlé or Bajaj Auto rather than a potential small company that could become a big company.
 
The objective behind every investment is to...
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  • Nifty, Sensex Trending up – Wednesday closing report
    We had mentioned in Monday’s closing report that Nifty, Sensex may be flat to down. The major indices ended with gains. On the NSE, there were 912 advances, 876 declines and 352 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
     
     
    The Indian equity markets opened higher led by gains in banks and financial service stocks. 
     
    The Cabinet Committee on Economic Affairs approved the proposal to increase the authorised capital of Food Corporation of India to Rs10,000 crore. The current authorised capital of FCI is Rs3,500 crore.
     
    The board of directors of Yes Bank will meet on Friday to consider fund raising through issue of fresh equity. The bank had earlier announced that it had received a binding offer from a global investor for an investment of $ 1.2 billion.
     
    CreditAccess Grameen has agreed to acquire 76.2% of Madura Micro Finance from its existing shareholders. The price to be paid for acquisition is Rs1,216.16 per share, aggregating to Rs666.4 crore.
     
    The board of Accelya Solutions India has approved appointment of Jose Maria Hurtado as an Additional Director with effect from 27 November 2019.
     
    Ashok Leyland has bagged an order from Tamil Nadu State Transport Undertakings for 1750 buses. This order comes closely on the back of orders received from various state transport undertakings recently.
     
    BASF India plans to double its capacity for polymer dispersions with a new production line at its site in Dahej, Gujarat. Through this investment, the company aims to provide a reliable supply of high-quality dispersion solutions to customers in the fast-growing Indian and South Asian markets.
     
    Biocon and Mylan's supplemental Biologics License Application (sBLA) for Pegfilgrastim Drug Substance to be manufactured at Biocon's new Biologics manufacturing facility has been approved by the U.S. FDA. This additional approval of its new manufacturing facility for Pegfilgrastim in Bengaluru will enable Biocon Biologics, a subsidiary of Biocon, and Mylan to scale up capacity multi-fold and address the growing market opportunities in the U.S. and other global markets.
     
    The top gainers and top losers of the major indices are given in the table below:
     
     
    The closing values of the major Asian indices are given in the table below:
     
     
  • User

    Nifty, Sensex may be flat to down – Tuesday closing report
    We had mentioned in Monday’s closing report that Nifty, Sensex are trending upwards. The major indices opened high but wiped out all gains and closed with losses. On the NSE, there were 855 advances, 928 declines and 361 unchanged. 
     
    The trends of the major indices in the course of Tuesday’s trading are given in the table below:
     
     
    The benchmark Sensex on Tuesday surpassed the 41,000 mark during the early trade and touched a life time high of 41,120.28, but ended lower. Barring banks financial sector stocks all the sectoral indices ended in the red.
     
    Airtel stock hit a low following the rating agency Icra’s downgrading of their long-term rating to “AA-” from “AA”. Icra made the downgrade attributing it to the recognition of higher than anticipated provisions following the Supreme Court’s judgement on payment of dues for license fees on adjusted gross revenues (AGR) and spectrum usage charges in the latest quarterly results.
     
    State run MTNL does not have any liability pending on account of the AGR revenues unpaid to the Department of Telecom (DoT) as it operates through a separate subsidiary and its mobile service dues have already been paid under the AGR.
     
    Leading bike maker Bajaj Auto announced an investment of $8 million in Bengaluru-based bike-sharing platform Yulu to boost electric vehicle adoption in India. The fresh round of investment will be utilised for further strengthening of the mobility platform and deepening of the technology solutions for rapid expansion, Yulu said.
     
    Shares of Zee Entertainment tanked 9% on the bourses after Subhash Chandra quit as chairman. Subhash Chandra announced late on Monday that he would step down as Zee's chairman. Last week, major global investors had invested in Chandra-led Essel Group's stake sale of 16.5% in Zee, after the promoters of the company decided to sell major portions of its stake.
     
    BSE Telecom index fell 3.5% after a government official was reported saying that the Committee of Secretaries (CoS) formed to suggest relief measure for struggling telecos, has been disbanded. Dissolving the CoS would mean that any further relief for the telecom industry may only come from the court in the adjusted gross revenue (AGR) case and the two-year moratorium would be all the government is ready to offer at this point.
     
    The top gainers and top losers of the major indices are given in the table below:
     
     
    The closing values of the major Asian indices are given in the table below:
     
     
     
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