Investing in a Cloudy 2020
It is said that stock prices are slaves of earnings growth. But earnings growth and stock prices have been in disagreement for a long time now. Fair value, or value investing, seems to be getting redefined, as cash is chasing a market that is very shallow as well as narrow. Dominated by institutional money that flows to the large–caps, due to compulsions of being invested, ‘high-quality...
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  • Nifty, Sensex may continue to head higher - Thursday closing report
    We had mentioned in Wednesday’s closing report that Nifty, Sensex may try to go up. The major indices opened high and closed with major gains. On the NSE, there were 1,337 advances, 464 declines and 342 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:
     
     
    The Enforcement Directorate (ED) has attached Rs2,510.82 crore worth of movable and immovable assets of SRS Group, its promoters, their family members and of associate companies on charges of defaulting on a loan of Rs1,100 crore.
     
    IL&FS Transportation Networks sought expressions of interest for the acquisition of its entire stake in GRICL Rail Bridge Development. ITNL is the promoter shareholder of GRBDCL and holds 100% of the equity shares of the company.
     
    Drug maker Strides Pharma Science appointed former Cipla honcho R. Ananthanarayanan as their new CEO and Managing Director.
     
    Delta Corp Limited's subsidiary had earlier entered into a Memorandum of Understanding (MoU) for leasing space at the five star Marriot Hotel in Kathmandu, Nepal to operate a casino. The subsidiary in Nepal has been issued a license for operating a casino in Nepal.
     
    KNR Constructions plans to sell its entire equity stake in a toll road KNR Walayar Tollways Private to Cube Highways and Infrastructure III Pte. Ltd. The company holds 100% equity in the special purpose vehicle (SPV).
     
    BGR Energy Systems has secured an order from Tamilnadu Transmission Corporation Limited (TANTRANSCO) on a total turnkey contract basis. The total value of the contract is Rs.224.28 crores inclusive of GST and the contract completion period is 18 months.
     
    The Cabinet Committee on Economic Affairs approved viability gap funding/capital grant of 60% of the estimated cost of Rs.9,265 crore for the project to Indradhanush Gas Grid Limited (IGGL). The North East Gas Grid project is being implemented by IGGL, a joint venture company of five CPSEs (GAIL, IOCL, ONGC, OIL and NRL).
     
    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 try to go up – Wednesday closing report
    We had mentioned in Tuesday’s closing report that Nifty, Sensex were sending mixed signals. The major indices opened low but recovered and closed with minor losses. On the NSE, there were 742 advances, 1,054 declines and 351 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
     
     
    The 30-scrip Sensitive Index (Sensex) opened on a negative note during the morning session of the trade. 
     
    After the Central Statistics Office projected 5% GDP growth for the financial year 2019-2020, industry body Ficci suggested relaxing the fiscal deficit target as a measure to boost demand, saying infusion of capital into the economy is imperative to boost growth.
     
    Suzlon Energy has defaulted on loans amounting to Rs.7,256.38 crore. The total default amount includes a principal of Rs.6,717.44 crore and interest of Rs.538.94 crore, the company said in a regulatory filing.
     
    Mastek (UK) will sell its partial holding of 8,24,500 shares in Majesco (USA) for cash consideration of USD 6.49 million, in the open market on January 7, 2020.
     
    Ramco Systems secured a multi-million-dollar global payroll and workforce management (WFM) deal from a leading Australian university. With this win, Ramco will be expanding its foothold in the higher education vertical which is witnessing good demand for HR & Payroll transformation.
     
    Subex announced a five-year expansion of coverage of their partnership with Jawwal, the foremost mobile network operator in Palestine, to provide an upgrade with the latest versions of ROC Revenue Assurance and ROC Fraud Management.
     
    Invent Asset Reconstruction emerged as a successful bidder to acquire debt exposure of Garden Silk Mills. The lenders of Garden Silk Mills had invited expression of interest from bidders for sale of the debt exposure.
     
    T S Alloys, a wholly-owned subsidiary of Tata Steel, has been issued letter of intent for grant of mining lease for Saruabil block for chromite ore. The government of Odisha had undertaken an auction process for the grant of mining lease for the Saruabil Chromite mining block. 
     
    Shares of Adani Enterprises slipped after media reports suggested that the Supreme Court (SC) has set aside Bombay High Court's order giving relief to the firm in the coal import case.
     
    Telecom majors sought an open court hearing of their pleas seeking review of certain directions of the Supreme Court on recovery of past dues amounting to Rs1.47 lakh crore from telecom service providers.
     
    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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