Nifty, Sensex Moving Sideways – Wednesday closing report
We had mentioned in Tuesday’s closing report that Nifty, Sensex remained under pressure. The major indices was in the red for most of the days and closed with minor gains. On the NSE, there were 720 advances, 1,045 declines and 377 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
 
 
Sensex advanced 129 points during the early trade while the Nifty traded slightly below the 11,900 mark. 
 
The RBI's flexible inflation targeting framework will be reviewed only after March 2021, its executive director Micheal Patra has told analysts. Flexible inflation targeting is a monetary policy strategy used by the Central bank to maintain the price level within a certain range. This strategy indicates the importance of price stability as the prime factor of monetary policy.
 
As many as 54% of the top 100 companies in India in terms of market capitalisation have been replaced by new companies over the past two decades, says a report by Edelweiss Securities. According to the report, companies such as SBI Life, Bandhan Bank, HDFC AMC and PNB found their way into the top 100 club led by fresh listing or market capitalisation gains.
 
Tata Consultancy has signed an agreement with Givaudan International SA, a global leader in fragrances and flavors, to modernize and manage the latter's global data center operations and accelerate its digital transformation journey.
 
Qatar Investment Authority may purchase 25.1% stake in Adani Electricity Mumbai and have also agreed to a shareholder subordinated debt investment by QIA in AEML. The total QIA investment in AEML will be approximately Rs3,200 Crore .
 
KNR Constructions, Hyderabad, has received a work order for Rs240.60 crore from Greater Hyderabad Municipal Corporation for comprehensive road maintenance of main road in Secunderabad Zone for 5 years.
 
Yes Bank shares collpased by more than 15% on worries that bank is running out of time in getting investors. The bank is looking to raise $2 billion and, surprisingly,  has not found a single large well-known investment institution interested.
 
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 

    Buying Stocks? Focus on This Metric, Not Profit
    Cash-flow is the most vital element in financial analysis which we miss most often. The majority of stock research reports I see seem to be very focused on future earnings and the balance-sheet. More on earnings, I should say. They discuss earnings growth, ratios such as PEG (price/earnings-to-growth) ratio, peer P/E (price-to-earnings) comparison, etc.  
     
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  • Nifty, Sensex Remains Under Pressure – Tuesday closing report
    We had mentioned in Monday’s closing report that Nifty, Sensex were moving sideways. The major indices slipped and closed with major losses. On the NSE, there were 512 advances, 1,279 declines and 353 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
     
     
    Selling in IT and media stocks led the benchmark Sensex to lose 60 points during the early trade on Tuesday after it managed to open in the green.
     
    Stock price of Yes Bank fell as much as 5% ahead of the crucial board meet to take call on the investment offers that the bank has received. Investors pushed the sell button over reports that the bank may decline to accept the $1.2 billion investments offer by the controversial Canada based Erwin Singh Braich. 
     
    Domestic automobile sales continued to decline in November with the overall sectoral off-take plunging 12.05% on a year-on-year basis. Segment wise, the off-take of passenger vehicle sales during the month under review slipped by 0.84% to 263,773 units this November on a year-on-year basis.
     
    Net inflows into equity mutual funds dipped sharply to multi-year lows in November as on one hand, outflows from credit risk funds continued, while inflows into equity funds fell as much as 85%.
     
    Tariff hikes can double EBITDA of telcos and sustainability of hikes and funding of adjusted gross revenue (AGR)-related dues are the key monitorables, said rating agency Crisil. The steep tariff hikes of up to 50% is being implemented by telecommunication companies. Telcos have the potential to double the industry's EBITDA next fiscal. This is a structural positive for an industry weighed down by weak cash flows and mounting debt, says Crisil.
     
    NSE has launched interest rate options on 10-year government bonds to provide institutional investors ability to manage risk.
     
    ProConnect, a wholly owned subsidiary of Redington India, has acquired remaining 12% stake in Rajprotim Supply Chain Solutions. The 12% stake was acquired for a consideration of Rs.11 Crores. With this acquisition, the total holding of ProConnect in RCS is increased from 88% to 100%.
     
    CRISIL Limited has downgraded PC Jewellers long term and short terms ratings to the bank loan facilities to CRISIL D i.e. default grade. 
     
    The Tata Motors Group global wholesales in November 2019, including Jaguar Land Rover, were at 89,671, lower by 15%, as compared to November 2018.
     
    Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in November 2019 were at 31 ,030, lower by 19%, over November 2018. Global wholesales of all passenger vehicles in November 2019 were at 58,641, lower by 12% as compared to November 2018. Global wholesales for Jaguar Land Rover were 48,105 vehicles. 
     
    Jagran Prakashan has announced a buyback of the for an aggregate amount not exceeding Rs101.25l akhs at a price not exceeding Rs75.
     
    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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