ICICI Securities Ltd: Cyclical or Secular Growth?
ICICI Securities Ltd (I-Sec), a subsidiary of ICICI Bank Ltd, is one of the largest stockbroking firms that also offers other financial services such as investment banking, private wealth management and financial product distribution. The business structure is as follows:
 
 
I-Sec came out with its IPO in March 2018, a couple of months after the stock market euphoria was...
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  • Preserving Money
    In my previous article, I had highlighted some of the issues faced by senior citizens. Many readers asked me ‘where should senior citizens invest?’ This inevitably leads to a bigger discussion on evaluating the RISK-REWARD of investing in various asset classes and interest rates. Preservation of wealth is important; and the real issue that impacts our ‘wealth’ is the diminishing return on...
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  • Global weakness bring down Nifty, Sensex – Thursday closing report
    We had mentioned in Wednesday’s closing report that Nifty, Sensex are on an uptrend. On Thursday, the major indices ended in red with minor losses. On the NSE, there were 690 advances, 1,132 declines and 376 unchanged.
     
    The trends of the major indices in the course of Thursday’s trading are given in the table below:
     
     
    Dr. Reddy's Laboratories launched an over-the-counter (OTC) eye allergy drop Olopatadine Hydrochloride Ophthalmic Solution in the US.
     
    Happiest Minds Technologies stock registered a massive opening on the bourses, surging about 138% on an intraday basis on its debut on September 17.
     
    Ircon International bagged order worth Rs 1,900 crore from the Indian Railways for electrification works on various routes.
     
    Dhanuka Agritech’s board approved the buyback of equity shares worth up to Rs 100 crore and fixed September 28 as the record for determining the entitlement of equity shareholders.
     
    Manaksia Steels has acquired 13.25 lakh shares of Manaksia Limited through market purchase. Following the acquisition, the revised shareholding of the company in Manaksia Limited has been increased from 4.08% to 6.10%.
     
    Power Ministry gave a nod to monetise Power Grid’s assets held in Special Purpose Vehicles (SPVs) through InvIT (Infrastructure Investment Trust). 
     
    JMC Projects (India) secured new orders of Rs 1,342 crore. Contracts include infrastructure project in East Asia of approximately Rs 725 crore, water supply projects in Odisha totalling Rs 471 crore and building project in North India of Rs 146 crore.
     
    Ramco Systems signed up an agreement with Arla Foods for modernising and transforming its multi-country payroll operations on Ramco's Global Payroll platform.
     
    Tata Teleservices approved raising of up to Rs 5,000 crore by issuing preferential shares to parent firm and non-convertible debentures on private placement basis.
     
    Sterling and Wilson Solar Limited signed an order of 106.71 MW worth USD 62.6 million (around Rs462 crores) in Chile.
     
    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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