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INTIMATION UNDER REG 30- Lockdown of the company's operations due to COVID 19 as per Safety measures directives issued by Govt of India.......

SEL Manufacturing Company Limited has informed the Exchange regarding ' '(Listing Obligation and Disclosure Requirement) Regulations, 2015' -UPDATES'.......

Den Networks Limited has informed the Exchange regarding Proceedings of Postal Ballot. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.......

HIL Limited has informed the Exchange regarding Credit RatingSub: Disclosure under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015.This is to inform you that ICRA Limited vide letter......

Rohit Ferro-Tech Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015......

In continuation of our letter ref.no. RCF/CS/Stock Exchanges/ 2020 dated March, 23, 2020, we wish to inform you that the Company has decided to suspend the operation of Trombay plant temporarily......

Thomas Cook (India) Limited has informed the Exchange regarding Credit Rating......

Future Consumer Limited has informed the Exchange regarding Credit Rating......

Indiamart Intermesh Limited has informed the Exchange regarding Analysts/Institutional Investor Meet/Con. Call Updates......

Refex Industries Limited has informed the Exchange regarding Board meeting held on March 28, 2020 through Video conferencing Appointed Mr Pillappan Amalanathan as an Additional Director (Independent) and Reconstituted various committees.......

Delta Corp Limited has informed the Exchange regarding Board meeting held on March 28, 2020.Sub: Intimation of meeting of the board of directors pursuant to Regulation 30 of the Securities andExchange......

DCB Bank Limited has informed the Exchange regarding allotment of 110550 Equity Shares under ESOP......

ADF Foods Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015......

The Jammu & Kashmir Bank Limited has informed the Exchange regarding Proceedings of Postal Ballot......

Dollar Industries Limited has informed the Exchange regarding 'Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Temporary closure of the Plant in view of COVID-19 outbreak'.......

This is to inform you that in light of the ongoing corona virus situation and directives received from the Central & State Government and Local Bodies, the business activity, operation and......

NTPC Limited has informed the Exchange regarding 'Addition to NTPC s Installed and Commercial Capacity post-acquisition of THDC & NEEPCO In line with the Corporate Disclosure requirements, please find attached Group......

Shrenik Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015......

Gujarat Narmada Valley Fertilizers and Chemicals Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015.Dear Sir,In compliance of SEBI (Prohibition of......

INTERIM DIVIDEND - RS 0.10 PER SHARE

FACE VALUE SPLIT (SUB-DIVISION) - FROM RS 10/- PER SHARE TO......

ANNUAL GENERAL MEETING/DIVIDEND RS 61 PR SH

ANNUAL GENERAL MEETING

ANNUAL GENERAL MEETING/DIVIDEND RS 4.8 PR SH

DIVIDEND - RS 2.50 PER SHARE

ANNUAL GENERAL MEETING

DIVIDEND - RS 1.50 PER SHARE

DIVIDEND RS 8.74 PER SHARE

ANNUAL GENERAL MEETING/DIVIDEND RS 13 PER SHARE

DIVIDEND - RS 3 PER SHARE

DIVIDEND - RS 14 PER SHARE

ANNUAL GENERAL MEETING

To consider and approve the financial results for the period ended......

To consider and approve the financial results for the period ended......

To consider Fund Raising and other business matters......

The Board meeting scheduled on March 26., 2020 is cancelled due......

To consider buyback for equity shares......

To consider and approve the financial results for the period ending......

To consider and approve the financial results for the period ending......

To consider and approve the financial results for the period ending......

To consider and approve the financial results for the period ending......

SCAPDVR : 24-Mar-2020 : The Company has informed the Exchange that......

STAMPEDE : 24-Mar-2020 : The Company has informed the Exchange that......

To consider fund raising through issuance of Commercial Papers......

To consider other business matters......

To consider Fund Raising by issue of equity shares / depository......

GEEKAYWIRE : 01-Apr-2020 : The Company has informed the Exchange that......

SUPREMEINF : 24-Mar-2020 : The Company has informed the Exchange that......

SUPREMEINF : 24-Mar-2020 : The Company has informed the Exchange that......

To consider and approve the proposal for voluntary delisting of equity......

Pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements)......

To consider other business matters......

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It was a volatile day for India share markets today. The benchmark indices opened higher but turned volatile and erased most of the gains thereafter, even after the RBI in its MPC meet cut the repo rate by 75 bps to 4.40%.

Losses were seen as market participants turned cautious after RBI Governor Shaktikanta Das said that there's a rising probability that large parts of the global economy will slip into recession.

At the closing bell, the�BSE Sensex�stood lower by 131 points (down 0.4%) and the�NSE Nifty�stood up by 18 points (up 0.2%).

The�BSE Mid Cap�index ended the day down 0.3%, while the�BSE Small Cap�index stood up by 0.3%.

Most of the sectoral indices ended in the red with stocks in the telecom sector, auto sector and oil & gas sector witnessing maximum selling pressure.

Asian stock markets finished on a positive note. As of the most recent closing prices, the�Hang Seng�was up by 0.56% and the Shanghai Composite was up by 0.26%. The�Nikkei 225�was up by 3.88%.

European markets were trading on a negative note. The FTSE 100 was down by 3.97%. The DAX was trading down by 2.19%, while the CAC 40 stood down 3.05%.

The rupee was trading at 75.27 against the�US$.

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Note that the Indian stock market has fallen 36% in just over a month. However, Vijay Bhambwani's subscribers have been saved from a lot of pain in this market.

He's had 16 out of 22 profitable trades in these difficult times and his last 11 trades, over the last six months, have been profitable. He has delivered a return on investment of 42.95% for his subscribers at a time like this when everyone is barely managing to stay afloat due to daily losses.

Vijay will be online for his upcoming event on Monday, 30 March at 5 pm.

The Weekly Cash Summit is where Vijay will share his blueprint for consistently beating the market. Register for free here.

Also, a few days ago, we asked you to participate in�Equitymaster's�"State of the Markets" poll.

The poll asked you to vote on what holds next for the Indian stock markets amid the gloomy economy and coronavirus fears.

Many of you voted for the same and we thank you for participating. The numbers are in and�here are the results.

In news from the macroeconomic space, Moody's Investors Service has more than halved India's 2020 growth forecast to 2.5%. This is within just three weeks of its previous downgrade to 5.3%.

This growth reduction is in sharp contrast to the previous downgrade of 0.1%. Earlier this month Moody's had revised its estimate to 5.3% from 5.4% in February. It had said the country's growth could slow down to 5% if the virus was not contained in its previous update.

According to the Global Macro Outlook 2020-21 released on Friday, the 21-day lockdown announced by Prime Minister Narendra Modi would result in a sharp loss in incomes and further weigh on domestic demand and the pace of recovery.

The report said a general lack of social safety nets, weak ability to provide adequate support to businesses and households, and inherent weaknesses in many major emerging market countries will amplify the effects of the coronavirus-induced shock.

Moody's also sharply revised China's growth forecast to 3.3% this year down from 4.8%. It said that based on the latest high frequency indicators, we estimate that China's economy contracted by around 10% in the first quarter on a sequential basis.

The ratings agency saw growth going into negative territory in major western economies with estimates of contractions of 5.4% in Germany, 4.5% in Italy, 4.3% in the US, 3.9% in the UK and 3.5% in France during the first half of 2020.

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In other news, the RBI�today lowered the key�repo rate�by 75 basis points (bps) to 4.4%. The move is to help arrest the economic slowdown in the wake of the�coronavirus�outbreak.

Here are some of the key takeaways from today's RBI policy decision:

The RBI made a sizeable cut in repo rate. It slashed the repo rate by 75 bps. The reverse�repo was also reduced by 90 bps and now stands at 4%. This has made the repo rate falling to the lowest ever. Before this, it had hit the lowest point of 4.74% in April 2009 in the wake of the global financial crisis.

Meanwhile, the cash reserve ratio (CRR) has been slashed by 100 bps to 3%.

The six-member Monetary Policy Committee (MPC) voted 4-2 in favour of the reduction of the repo rate by 75 bps, RBI Governor Shaktikanta Das said in an address to media.

The RBI also allowed banks and other lending institutions to extend the repayment schedule and moratorium by three months to avoid large NPAs and reduce risk weights.

The RBI said that the coronavirus pandemic will affect the growth of most sectors. Referring to the illness, Shaktikanta Das said that apart from continuing resilience from agriculture and allied sectors, most sectors of the economy will be adversely impacted by COVID-19, depending upon its intensity, spread and duration.

For liquidity measures, Das said that large selloffs in markets have intensified redemption pressure. The RBI will conduct auctions of long-term repo operation (LTRO) of up to three-year tenure of appropriate sizes for a total amount up to Rs 1 lakh crore at a floating rate linked to the policy repo rate

Deferment of interest on working capital facilities was also announced. As per the RBI, Lending institutions can defer by three months payment of interest outstanding as on March 1 on working capital facilities sanctioned in the form of cash-credit and overdraft and such. The accumulated interest for the period will be paid at the end of the deferment period.

Note that many other central banks have been taking similar measures to relieve their economy from the escalating global�coronavirus�pandemic.

Earlier this month, the US Federal Reserve lowered the interest rates, bringing it near zero, in another emergency move to help shore up the US economy. The Fed had cut interest rates by half a percentage point on March 3, too, in its first emergency cut since the financial crisis of 2008.

The Reserve Bank of New Zealand (RBA) slashed interest rates by 75 bps to a record low. The Reserve Bank of Australia poured US$ 3.6 billion in liquidity into Australia's financial system and said it was prepared to buy government bonds.

The coronavirus threat has meant sharp losses for global stock markets.

We have written a piece around how deep this impact has been felt in the global financial markets. You can check out the same here:�Worst Week for Global Stock Markets: Coronavirus Impact in 10 Points

Tanushree Banerjee believes the ongoing stock market correction could, in fact, be an inflection point for what she calls the irreversible�Rebirth of India megatrends.

For bluechip stocks, she believes the time is ripe to begin buying some of the safest bluechips as there is safety in valuations and the market is offering them at deeper and deeper bargains.

The profits of bluechips (BSE 200 companies) are currently at a decade low as can be seen in the chart below.

A Rebound in Profits Overdue?

Tanushree is recommending her subscribers, to buy stocks selectively, a few at a time, by taking partial exposures to begin with.

She has already recommended 4 safe bluechips in the past month and there are several more in her watchlist. You can access them here:�Here's How You Could Trade the Coronavirus Crisis Safely�(requires subscription)

And if you are not a StockSelect subscriber,�here's where you sign up.

To know what's moving the Indian stock markets today, check out the most recent�share market updates here.

This article (Volatile Day for Indian Indices: Sensex Ends 131 Points Lower Post Rebound; Telecom and Auto Stocks Bleed) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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DR. LAL PATHLABS LTD share price has zoomed 5% and is presently trading at Rs 1,571.

Meanwhile, the BSE HEALTHCARE Index is at 11,988 (up 0.5%).

Among the top Gainers in the BSE HEALTHCARE Index today are DR. LAL PATHLABS LTD (up 5.2%) and AJANTA PHARMA (up 6.2%).

ALEMBIC PHARMA (down 0.1%) and DR. REDDYS LAB (down 0.2%) are among the top losers today.

Over the last one year, DR. LAL PATHLABS LTD has moved up from Rs 1,080 to Rs 1,571, registering a gain of Rs 491 (up 38.4%).

On the other hand, the BSE HEALTHCARE has moved down from 14,200 to 11,988, loss of 2,212 points (down 17.9%) during the last 12 months.

The top gainers among the BSE HEALTHCARE Index stocks during this same period were ABBOTT INDIA (up 91.0%), J.B.CHEMICALS (up 47.5%) and DR. LAL PATHLABS LTD (up 38.4%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.3%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.4%), ITC (up 3.9%) and NTPC (up 3.9%). Other gainers include M&M (up 2.8%) and TCS (up 2.0%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.4%). The top gainers in the NSE Nifty include COAL INDIA (up 6.6%), AXIS BANK (up 6.2%) and CIPLA (up 6.0%). Other gainers include NTPC (up 4.7%) and ITC (up 4.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.91%).

This article (DR. LAL PATHLABS LTD Surges by 5%; BSE HEALTHCARE Index Up 0.5%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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TEAMLEASE SERVICES share price has plunged 10% and is presently trading at Rs 1,777.

Meanwhile, the BSE 500 Index is at 11,596 (down 0.2%).

Among the top losers in the BSE 500 Index today are TEAMLEASE SERVICES (down 10.2%) and MAHARASHTRA SEAMLESS (down 14.4%).

SHRIRAM TRANSPORT (up 12.6%) and MMTC LTD (up 12.2%) are among the top gainers today.

Over the last one year, TEAMLEASE SERVICES has moved down from Rs 2,972 to Rs 1,777, registering a loss of Rs 1,195 (down 40.2%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 317.2%), ABBOTT INDIA (up 91.0%) and NAVIN FLUORINE (up 83.4%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.3%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.4%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.4%). COAL INDIA (up 6.6%) and AXIS BANK (up 6.2%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.91%).

This article (TEAMLEASE SERVICES Plunges by 10%; BSE 500 Index Down 0.2%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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NESCO share price has plunged 6% and is presently trading at Rs 520.

Meanwhile, the BSE CAPITAL GOODS Index is at 11,827 (down 0.3%).

Among the top losers in the BSE CAPITAL GOODS Index today are NESCO (down 5.9%) and AIA ENGINEERING (down 5.3%).

BHARAT ELECTRONICS (up 9.0%) and FINOLEX CABLES (up 6.6%) are among the top gainers today.

Over the last one year, NESCO has moved up from Rs 459 to Rs 520, registering a gain of Rs 61 (up 13.4%)..

The BSE CAPITAL GOODS has moved down from 18,192 to 11,827, loss of 6,365 points (down 35.0%) during the last 12 months.

The top gainers among the BSE CAPITAL GOODS Index stocks during this same period were HONEYWELL AUTOMATION (up 13.3%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.3%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.4%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.4%). COAL INDIA (up 6.6%) and AXIS BANK (up 6.2%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.91%).

NESCO Financial Update...

NESCO net profit stood at Rs 691 million for the quarter ended December 2019, compared to a profit of Rs 420 million a year ago. Net Sales rose 30.0% to Rs 1.2 billion during the period as against Rs 885.0 million in October-December 2018.

For the year ended March 2019, NESCO reported 1.0% increase in net profit to Rs 1.8 billion compared to net profit of Rs 1.8 billion during FY18.

Revenue of the company grew 11.7% to Rs 4 billion during FY19.

The current Price to earnings ratio of NESCO, based on rolling 12 month earnings, stands at 14.2x.

This article (NESCO Plunges by 6%; BSE CAPITAL GOODS Index Down 0.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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SIEMENS share price has plunged 5% and is presently trading at Rs 1,165.

Meanwhile, the BSE CAPITAL GOODS Index is at 11,827 (down 0.3%).

Among the top losers in the BSE CAPITAL GOODS Index today is SIEMENS (down 5.1%).

BHARAT ELECTRONICS (up 8.7%) and FINOLEX CABLES (up 6.7%) are among the top gainers today.

Over the last one year, SIEMENS has moved up from Rs 1,057 to Rs 1,165, registering a gain of Rs 108 (up 10.3%)..

The BSE CAPITAL GOODS has moved down from 18,192 to 11,827, loss of 6,365 points (down 35.0%) during the last 12 months.

The top gainers among the BSE CAPITAL GOODS Index stocks during this same period were HONEYWELL AUTOMATION (up 12.2%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.6%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 4.5%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.3%). COAL INDIA (up 7.2%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.16%).

SIEMENS Financial Update...

SIEMENS net profit stood at Rs 3 billion for the quarter ended December 2019, compared to a profit of Rs 1 billion a year ago. Net Sales declined 4.9% to Rs 26.7 billion during the period as against Rs 28.1 billion in October-December 2018.

For the year ended September 2019, SIEMENS reported 22.0% increase in net profit to Rs 11.0 billion compared to net profit of Rs 9.0 billion during FY18.

Revenue of the company grew 7.6% to Rs 138 billion during FY19.

The current Price to earnings ratio of SIEMENS, based on rolling 12 month earnings, stands at 32.9x.

This article (SIEMENS Plunges by 5%; BSE CAPITAL GOODS Index Down 0.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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PFIZER share price has plunged 5% and is presently trading at Rs 4,000.

Meanwhile, the BSE HEALTHCARE Index is at 11,988 (down 0.4%).

Among the top losers in the BSE HEALTHCARE Index today are PFIZER (down 5.2%) and APOLLO HOSPITALS (down 6.0%).

GRANULES INDIA (up 10.6%) and CAPLIN POINT (up 7.4%) are among the top gainers today.

Over the last one year, PFIZER has moved up from Rs 3,220 to Rs 4,000, registering a gain of Rs 779 (up 24.2%)..

The BSE HEALTHCARE has moved down from 14,200 to 11,988, loss of 2,212 points (down 15.6%) during the last 12 months.

The top gainers among the BSE HEALTHCARE Index stocks during this same period were ABBOTT INDIA (up 93.5%), J.B.CHEMICALS (up 48.6%) and DR. LAL PATHLABS LTD (up 39.9%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.8%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 4.3%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.1%). COAL INDIA (up 6.9%) and AXIS BANK (up 5.4%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.34%).

PFIZER Financial Update...

PFIZER net profit stood at Rs 1 billion for the quarter ended December 2019, compared to a profit of Rs 1 billion a year ago. Net Sales rose 4.7% to Rs 5.4 billion during the period as against Rs 5.1 billion in October-December 2018.

For the year ended March 2019, PFIZER reported 19.2% increase in net profit to Rs 4.3 billion compared to net profit of Rs 3.6 billion during FY18.

Revenue of the company grew 5.1% to Rs 21 billion during FY19.

The current Price to earnings ratio of PFIZER, based on rolling 12 month earnings, stands at 32.7x.

This article (PFIZER Plunges by 5%; BSE HEALTHCARE Index Down 0.4%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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CASTROL INDIA share price has plunged 5% and is presently trading at Rs 109.

Meanwhile, the BSE OIL & GAS Index is at 9,803 (down 1.7%).

Among the top losers in the BSE OIL & GAS Index today is CASTROL INDIA (down 5.1%).

PETRONET LNG (up 1.5%) and OIL INDIA (up 1.5%) are among the top gainers today.

Over the last one year, CASTROL INDIA has moved down from Rs 164 to Rs 109, registering a loss of Rs 54 (down 33.2%)..

The BSE OIL & GAS has moved down from 15,167 to 9,803, loss of 5,364 points (down 35.4%) during the last 12 months.

The top gainers among the BSE OIL & GAS Index stocks during this same period were INDRAPRASTHA GAS (up 16.5%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.8%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 4.3%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (down 0.2%). COAL INDIA (up 6.3%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.33%).

CASTROL INDIA Financial Update...

CASTROL INDIA net profit stood at Rs 3 billion for the quarter ended December 2019, compared to a profit of Rs 2 billion a year ago. Net Sales declined 2.1% to Rs 10.1 billion during the period as against Rs 10.3 billion in October-December 2018.

For the year ended December 2018, CASTROL INDIA reported 2.4% increase in net profit to Rs 7.1 billion compared to net profit of Rs 6.9 billion during FY17.

Revenue of the company grew 1.4% to Rs 39 billion during FY18.

The current Price to earnings ratio of CASTROL INDIA, based on rolling 12 month earnings, stands at 11.9x.

This article (CASTROL INDIA Plunges by 5%; BSE OIL & GAS Index Down 1.7%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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GSK PHARMA share price has plunged 6% and is presently trading at Rs 1,250.

Meanwhile, the BSE HEALTHCARE Index is at 11,988 (up 0.1%).

Among the top losers in the BSE HEALTHCARE Index today are GSK PHARMA (down 5.7%) and APOLLO HOSPITALS (down 5.7%).

GRANULES INDIA (up 9.6%) and DR. LAL PATHLABS LTD (up 9.0%) are among the top gainers today.

Over the last one year, GSK PHARMA has moved down from Rs 1,290 to Rs 1,250, registering a loss of Rs 40 (down 3.1%)..

The BSE HEALTHCARE has moved down from 14,200 to 11,988, loss of 2,212 points (down 15.6%) during the last 12 months.

The top gainers among the BSE HEALTHCARE Index stocks during this same period were ABBOTT INDIA (up 93.5%), J.B.CHEMICALS (up 48.6%) and DR. LAL PATHLABS LTD (up 43.4%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.2%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.1%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (down 0.2%). COAL INDIA (up 6.3%) and AXIS BANK (up 4.6%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.83%).

GSK PHARMA Financial Update...

GSK PHARMA net profit down at Rs 6 billion for the quarter ended December 2019, compared to a loss of Rs 1 billion a year ago. Net Sales declined 5.7% to Rs 7.8 billion during the period as against Rs 8.3 billion in October-December 2018.

For the year ended March 2019, GSK PHARMA reported 25.1% increase in net profit to Rs 4.2 billion compared to net profit of Rs 3.3 billion during FY18.

Revenue of the company grew 8.0% to Rs 31 billion during FY19.

The current Price to earnings ratio of GSK PHARMA, based on rolling 12 month earnings, stands at 200.8x.

This article (GSK PHARMA Plunges by 6%; BSE HEALTHCARE Index Up 0.1%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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SUNDRAM FASTENERS share price has zoomed 11% and is presently trading at Rs 292.

Meanwhile, the BSE 500 Index is at 11,596 (down 0.4%).

Among the top Gainers in the BSE 500 Index today are SUNDRAM FASTENERS (up 11.5%) and SHEELA FOAM LTD (up 12.6%).

SUN PHARMA and TITAN are among the top losers today.

Over the last one year, SUNDRAM FASTENERS has moved down from Rs 552 to Rs 292, registering a loss of Rs 260 (down 48.4%).

On the other hand, the BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 26.3%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 310.7%), ABBOTT INDIA (up 91.6%) and NAVIN FLUORINE (up 80.8%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.4%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.0%), ITC (up 3.4%) and NTPC (up 3.0%). Other gainers include POWER GRID (up 2.4%) and SBI (up 2.2%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 . The top gainers in the NSE Nifty include COAL INDIA (up 6.2%), CIPLA (up 4.4%) and AXIS BANK (up 4.4%). Other gainers include NTPC (up 4.3%) and ITC (up 3.8%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.96%).

SUNDRAM FASTENERS Financial Update...

SUNDRAM FASTENERS net profit down at Rs 711 million for the quarter ended September 2019, compared to a loss of Rs 1 billion a year ago. Net Sales declined 24.9% to Rs 7.7 billion during the period as against Rs 10.2 billion in July-September 2018.

For the year ended March 2019, SUNDRAM FASTENERS reported 18.2% increase in net profit to Rs 4.6 billion compared to net profit of Rs 3.9 billion during FY18.

Revenue of the company grew 16.5% to Rs 46 billion during FY19.

The current Price to earnings ratio of SUNDRAM FASTENERS, based on rolling 12 month earnings, stands at 15.5x.

This article (SUNDRAM FASTENERS Surges by 11%; BSE 500 Index Down 0.4%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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CRISIL share price has plunged 10% and is presently trading at Rs 1,498.

Meanwhile, the BSE 500 Index is at 11,596 (down 0.4%).

Among the top losers in the BSE 500 Index today are CRISIL (down 10.1%) and MAHARASHTRA SEAMLESS (down 14.8%).

SHEELA FOAM LTD (up 12.6%) and CARE RATING (up 12.4%) are among the top gainers today.

Over the last one year, CRISIL has moved up from Rs 1,478 to Rs 1,498, registering a gain of Rs 20 (up 1.3%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 310.7%), ABBOTT INDIA (up 91.6%) and NAVIN FLUORINE (up 80.8%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.4%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.0%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 . COAL INDIA (up 6.2%) and CIPLA (up 4.4%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.96%).

CRISIL Financial Update...

CRISIL net profit down at Rs 953 million for the quarter ended December 2019, compared to a loss of Rs 1 billion a year ago. Net Sales declined 0.6% to Rs 4.6 billion during the period as against Rs 4.7 billion in October-December 2018.

For the year ended December 2018, CRISIL reported 19.3% increase in net profit to Rs 3.6 billion compared to net profit of Rs 3.0 billion during FY17.

Revenue of the company grew 5.4% to Rs 17 billion during FY18.

The current Price to earnings ratio of CRISIL, based on rolling 12 month earnings, stands at 26.4x.

This article (CRISIL Plunges by 10%; BSE 500 Index Down 0.4%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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ENGINEERS INDIA share price has zoomed 6% and is presently trading at Rs 64.

Meanwhile, the BSE CAPITAL GOODS Index is at 11,827 (up 0.4%).

Among the top Gainers in the BSE CAPITAL GOODS Index today are ENGINEERS INDIA (up 5.5%) and HINDUSTAN AERONAUTICS (up 7.3%).

KALPATARU POWER (down 0.4%) and BHEL (down 0.5%) are among the top losers today.

Over the last one year, ENGINEERS INDIA has moved down from Rs 114 to Rs 64, registering a loss of Rs 50 (down 47.2%).

On the other hand, the BSE CAPITAL GOODS has moved down from 18,192 to 11,827, loss of 6,365 points (down 38.0%) during the last 12 months.

The top gainers among the BSE CAPITAL GOODS Index stocks during this same period were HONEYWELL AUTOMATION (up 13.2%) and SIEMENS (up 0.1%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.3%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.0%), ITC (up 3.5%) and NTPC (up 3.1%). Other gainers include POWER GRID (up 2.3%) and SBI (up 2.1%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 . The top gainers in the NSE Nifty include COAL INDIA (up 6.2%), CIPLA (up 4.4%) and AXIS BANK (up 4.4%). Other gainers include NTPC (up 4.3%) and ITC (up 3.8%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.95%).

ENGINEERS INDIA Financial Update...

ENGINEERS INDIA net profit stood at Rs 1 billion for the quarter ended December 2019, compared to a profit of Rs 908 million a year ago. Net Sales rose 54.4% to Rs 8.9 billion during the period as against Rs 5.8 billion in October-December 2018.

For the year ended March 2019, ENGINEERS INDIA reported 2.7% decrease in net profit to Rs 3.7 billion compared to net profit of Rs 3.8 billion during FY18.

Revenue of the company grew 35.7% to Rs 25 billion during FY19.

The current Price to earnings ratio of ENGINEERS INDIA, based on rolling 12 month earnings, stands at 9.6x.

This article (ENGINEERS INDIA Surges by 6%; BSE CAPITAL GOODS Index Up 0.4%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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GRANULES INDIA share price has zoomed 6% and is presently trading at Rs 145.

Meanwhile, the BSE HEALTHCARE Index is at 11,988 (down 0.2%).

Among the top Gainers in the BSE HEALTHCARE Index today are GRANULES INDIA (up 6.4%) and AJANTA PHARMA (up 5.6%).

SUN PHARMA (down 0.2%) and SANOFI INDIA (down 0.3%) are among the top losers today.

Over the last one year, GRANULES INDIA has moved up from Rs 112 to Rs 145, registering a gain of Rs 34 (up 27.4%).

On the other hand, the BSE HEALTHCARE has moved down from 14,200 to 11,988, loss of 2,212 points (down 18.4%) during the last 12 months.

The top gainers among the BSE HEALTHCARE Index stocks during this same period were ABBOTT INDIA (up 93.7%), J.B.CHEMICALS (up 47.6%) and DR. LAL PATHLABS LTD (up 36.7%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.2%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 6.2%), NTPC (up 3.7%) and ITC (up 3.6%). Other gainers include POWER GRID (up 3.2%) and SBI (up 2.4%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.1%). The top gainers in the NSE Nifty include COAL INDIA (up 6.2%), AXIS BANK (up 5.0%) and CIPLA (up 4.5%). Other gainers include NTPC (up 4.2%) and ITC (up 3.7%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.83%).

This article (GRANULES INDIA Surges by 6%; BSE HEALTHCARE Index Down 0.2%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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COCHIN SHIPYARD share price has zoomed 10% and is presently trading at Rs 248.

Meanwhile, the BSE 500 Index is at 11,596 (up 0.7%).

Among the top Gainers in the BSE 500 Index today are COCHIN SHIPYARD (up 10.3%) and SHEELA FOAM LTD (up 12.6%).

GUJARAT ALKALIES and BANK OF BARODA (down 0.1%) are among the top losers today.

Over the last one year, COCHIN SHIPYARD has moved down from Rs 389 to Rs 248, registering a loss of Rs 141 (down 36.3%).

On the other hand, the BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 25.5%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 314.1%), ABBOTT INDIA (up 94.4%) and NAVIN FLUORINE (up 82.7%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (up 0.9%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 10.9%), ITC (up 4.5%) and POWER GRID (up 4.1%). Other gainers include NTPC (up 3.7%) and ICICI BANK (up 3.7%). The most traded stocks in the BSE Sensex are RELIANCE IND. and SBI.

In the meantime, NSE Nifty is at 9,039 (up 0.8%). The top gainers in the NSE Nifty include AXIS BANK (up 10.0%), COAL INDIA (up 7.2%) and CIPLA (up 4.7%). Other gainers include ITC (up 4.0%) and NTPC (up 4.0%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 20.96%).

This article (COCHIN SHIPYARD Surges by 10%; BSE 500 Index Up 0.7%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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CEAT LTD. share price has zoomed 10% and is presently trading at Rs 727.

Meanwhile, the BSE 500 Index is at 11,596 (up 0.8%).

Among the top Gainers in the BSE 500 Index today are CEAT LTD. (up 10.2%) and SHEELA FOAM LTD (up 10.7%).

J.B.CHEMICALS and AMBUJA CEMENT are among the top losers today.

Over the last one year, CEAT LTD. has moved down from Rs 1,097 to Rs 727, registering a loss of Rs 370 (down 33.7%).

On the other hand, the BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 25.4%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 314.8%), ABBOTT INDIA (up 92.4%) and NAVIN FLUORINE (up 82.9%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (up 0.9%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 11.5%), NTPC (up 4.8%) and SBI (up 4.4%). Other gainers include POWER GRID (up 4.4%) and ICICI BANK (up 4.1%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 1.5%). The top gainers in the NSE Nifty include AXIS BANK (up 11.2%), COAL INDIA (up 7.0%) and CIPLA (up 5.3%). Other gainers include NTPC (up 5.0%) and POWER GRID (up 4.6%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 20.95%).

CEAT LTD. Financial Update...

CEAT LTD. net profit stood at Rs 479 million for the quarter ended December 2019, compared to a profit of Rs 459 million a year ago. Net Sales rose 2.8% to Rs 17.6 billion during the period as against Rs 17.1 billion in October-December 2018.

For the year ended March 2019, CEAT LTD. reported 12.9% increase in net profit to Rs 2.8 billion compared to net profit of Rs 2.4 billion during FY18.

Revenue of the company grew 8.2% to Rs 70 billion during FY19.

The current Price to earnings ratio of CEAT LTD., based on rolling 12 month earnings, stands at 13.1x.

This article (CEAT LTD. Surges by 10%; BSE 500 Index Up 0.8%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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CIPLA share price has zoomed 5% and is presently trading at Rs 408.

Meanwhile, the BSE HEALTHCARE Index is at 11,988 (up 0.3%).

Among the top Gainers in the BSE HEALTHCARE Index today are CIPLA (up 5.1%) and AJANTA PHARMA (up 5.7%).

WOCKHARDT (down 0.3%) and SANOFI INDIA (down 0.4%) are among the top losers today.

Over the last one year, CIPLA has moved down from Rs 529 to Rs 408, registering a loss of Rs 121 (down 23.2%).

On the other hand, the BSE HEALTHCARE has moved down from 14,200 to 11,988, loss of 2,212 points (down 18.0%) during the last 12 months.

The top gainers among the BSE HEALTHCARE Index stocks during this same period were ABBOTT INDIA (up 91.3%), J.B.CHEMICALS (up 47.8%) and IPCA LABS (up 35.9%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (up 0.3%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.7%), POWER GRID (up 3.9%) and NTPC (up 3.2%). Other gainers include ITC (up 3.0%) and SBI (up 3.0%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 1.4%). The top gainers in the NSE Nifty include AXIS BANK (up 11.5%), COAL INDIA (up 6.7%) and CIPLA (up 5.5%). Other gainers include UPL (up 5.2%) and NTPC (up 4.6%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.46%).

CIPLA Financial Update...

CIPLA net profit stood at Rs 4 billion for the quarter ended December 2019, compared to a profit of Rs 3 billion a year ago. Net Sales rose 9.1% to Rs 43.7 billion during the period as against Rs 40.1 billion in October-December 2018.

For the year ended March 2019, CIPLA reported 0.9% increase in net profit to Rs 15.1 billion compared to net profit of Rs 15.0 billion during FY18.

Revenue of the company grew 8.3% to Rs 160 billion during FY19.

The current Price to earnings ratio of CIPLA, based on rolling 12 month earnings, stands at 19.5x.

This article (CIPLA Surges by 5%; BSE HEALTHCARE Index Up 0.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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JAMNA AUTO share price has plunged 6% and is presently trading at Rs 29.

Meanwhile, the BSE 500 Index is at 11,596 (up 0.3%).

Among the top losers in the BSE 500 Index today are JAMNA AUTO (down 5.9%) and BAJAJ FINANCE (down 6.0%).

MMTC LTD (up 13.1%) and SHRIRAM TRANSPORT (up 11.3%) are among the top gainers today.

Over the last one year, JAMNA AUTO has moved down from Rs 59 to Rs 29, registering a loss of Rs 30 (down 51.2%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 312.0%), ABBOTT INDIA (up 91.3%) and NAVIN FLUORINE (up 82.1%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (up 0.3%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.7%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 1.4%). AXIS BANK (up 11.5%) and COAL INDIA (up 6.7%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.46%).

This article (JAMNA AUTO Plunges by 6%; BSE 500 Index Up 0.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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PI INDUSTRIES share price has plunged 5% and is presently trading at Rs 1,176.

Meanwhile, the BSE 500 Index is at 11,596 (up 0.2%).

Among the top losers in the BSE 500 Index today are PI INDUSTRIES (down 5.1%) and BAJAJ FINANCE (down 6.3%).

MMTC LTD (up 13.1%) and SHRIRAM TRANSPORT (up 11.0%) are among the top gainers today.

Over the last one year, PI INDUSTRIES has moved up from Rs 1,030 to Rs 1,176, registering a gain of Rs 146 (up 14.2%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 312.0%), ABBOTT INDIA (up 92.7%) and NAVIN FLUORINE (up 83.3%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (up 0.2%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.4%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 1.1%). AXIS BANK (up 10.6%) and COAL INDIA (up 6.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.53%).

PI INDUSTRIES Financial Update...

PI INDUSTRIES net profit stood at Rs 1 billion for the quarter ended December 2019, compared to a profit of Rs 1 billion a year ago. Net Sales rose 20.1% to Rs 8.5 billion during the period as against Rs 7.1 billion in October-December 2018.

For the year ended March 2019, PI INDUSTRIES reported 11.6% increase in net profit to Rs 4.1 billion compared to net profit of Rs 3.7 billion during FY18.

Revenue of the company grew 23.1% to Rs 28 billion during FY19.

The current Price to earnings ratio of PI INDUSTRIES, based on rolling 12 month earnings, stands at 31.8x.

This article (PI INDUSTRIES Plunges by 5%; BSE 500 Index Up 0.2%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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MINDA INDUSTRIES share price has plunged 7% and is presently trading at Rs 272.

Meanwhile, the BSE 500 Index is at 11,596 (up 0.2%).

Among the top losers in the BSE 500 Index today are MINDA INDUSTRIES (down 6.8%) and BAJAJ FINANCE (down 6.3%).

MMTC LTD (up 13.1%) and SHRIRAM TRANSPORT (up 11.0%) are among the top gainers today.

Over the last one year, MINDA INDUSTRIES has moved down from Rs 341 to Rs 272, registering a loss of Rs 69 (down 20.3%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 312.0%), ABBOTT INDIA (up 92.7%) and NAVIN FLUORINE (up 83.3%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (up 0.2%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.4%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 1.1%). AXIS BANK (up 10.6%) and COAL INDIA (up 6.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.53%).

This article (MINDA INDUSTRIES Plunges by 7%; BSE 500 Index Up 0.2%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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BLUE STAR share price has plunged 6% and is presently trading at Rs 535.

Meanwhile, the BSE CAPITAL GOODS Index is at 11,827 (down 0.7%).

Among the top losers in the BSE CAPITAL GOODS Index today is BLUE STAR (down 5.5%).

FINOLEX CABLES (up 7.6%) and BHARAT ELECTRONICS (up 7.0%) are among the top gainers today.

Over the last one year, BLUE STAR has moved down from Rs 663 to Rs 535, registering a loss of Rs 128 (down 19.3%)..

The BSE CAPITAL GOODS has moved down from 18,192 to 11,827, loss of 6,365 points (down 35.0%) during the last 12 months.

The top gainers among the BSE CAPITAL GOODS Index stocks during this same period were HONEYWELL AUTOMATION (up 13.3%) and SIEMENS (up 3.8%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.2%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.0%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.8%). AXIS BANK (up 10.3%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.86%).

BLUE STAR Financial Update...

BLUE STAR net profit stood at Rs 195 million for the quarter ended December 2019, compared to a profit of Rs 132 million a year ago. Net Sales rose 12.5% to Rs 12.4 billion during the period as against Rs 11.0 billion in October-December 2018.

For the year ended March 2019, BLUE STAR reported 46.6% increase in net profit to Rs 2.1 billion compared to net profit of Rs 1.4 billion during FY18.

Revenue of the company grew 12.6% to Rs 52 billion during FY19.

The current Price to earnings ratio of BLUE STAR, based on rolling 12 month earnings, stands at 22.4x.

This article (BLUE STAR Plunges by 6%; BSE CAPITAL GOODS Index Down 0.7%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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ADANI POWER share price has plunged 7% and is presently trading at Rs 32.

Meanwhile, the BSE POWER Index is at 1,406 (up 1.6%).

Among the top losers in the BSE POWER Index today are ADANI POWER (down 7.3%) and JSW ENERGY (down 7.0%).

NHPC LTD (up 5.2%) and POWER GRID (up 3.6%) are among the top gainers today.

Over the last one year, ADANI POWER has moved down from Rs 48 to Rs 32, registering a loss of Rs 15 (down 32.2%)..

The BSE POWER has moved down from 2,044 to 1,406, loss of 638 points (down 31.2%) during the last 12 months.

The top gainers among the BSE POWER Index stocks during this same period were TORRENT POWER LTD (up 7.9%) and SIEMENS (up 4.0%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 . The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.7%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.8%). AXIS BANK (up 10.3%) and COAL INDIA (up 5.9%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.71%).

ADANI POWER Financial Update...

ADANI POWER net profit declined 40.5% YoY to Rs 7 billion for the quarter ended December 2019, compared to a loss of Rs 12 billion a year ago. Net Sales rose 3.0% to Rs 65.7 billion during the period as against Rs 63.8 billion in October-December 2018.

For the year ended March 2018, ADANI POWER reported 0.3% decrease in net profit to Rs 20.9 billion compared to net profit of Rs 21.0 billion during FY17.

Revenue of the company grew 8.9% to Rs 206 billion during FY18.

The current Price to earnings ratio of ADANI POWER, based on rolling 12 month earnings, stands at down 23.7x.

This article (ADANI POWER Plunges by 7%; BSE POWER Index Up 1.6%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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CERA SANITARY share price has plunged 6% and is presently trading at Rs 2,346.

Meanwhile, the BSE 500 Index is at 11,596 (down 0.3%).

Among the top losers in the BSE 500 Index today are CERA SANITARY (down 6.0%) and BAJAJ FINANCE (down 6.5%).

MMTC LTD (up 11.8%) and DCB BANK (up 10.0%) are among the top gainers today.

Over the last one year, CERA SANITARY has moved down from Rs 2,650 to Rs 2,346, registering a loss of Rs 304 (down 11.5%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 316.0%), ABBOTT INDIA (up 89.4%) and NAVIN FLUORINE (up 80.6%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.4%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.7%). The most traded stocks in the BSE Sensex are SBI and AXIS BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.4%). AXIS BANK (up 10.1%) and COAL INDIA (up 5.2%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.00%).

CERA SANITARY Financial Update...

CERA SANITARY net profit stood at Rs 284 million for the quarter ended December 2019, compared to a profit of Rs 284 million a year ago. Net Sales rose 0.8% to Rs 3.2 billion during the period as against Rs 3.2 billion in October-December 2018.

For the year ended March 2019, CERA SANITARY reported 8.5% increase in net profit to Rs 1.2 billion compared to net profit of Rs 1.1 billion during FY18.

Revenue of the company grew 12.9% to Rs 14 billion during FY19.

The current Price to earnings ratio of CERA SANITARY, based on rolling 12 month earnings, stands at 24.2x.

This article (CERA SANITARY Plunges by 6%; BSE 500 Index Down 0.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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MOTILAL OSWAL share price has plunged 6% and is presently trading at Rs 567.

Meanwhile, the BSE 500 Index is at 11,596 (down 0.7%).

Among the top losers in the BSE 500 Index today are MOTILAL OSWAL (down 6.2%) and BAJAJ FINANCE (down 7.4%).

MMTC LTD (up 13.1%) and DCB BANK (up 10.0%) are among the top gainers today.

Over the last one year, MOTILAL OSWAL has moved down from Rs 599 to Rs 567, registering a loss of Rs 32 (down 5.3%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 314.1%), ABBOTT INDIA (up 89.4%) and NAVIN FLUORINE (up 80.1%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.8%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.3%). The most traded stocks in the BSE Sensex are SBI and AXIS BANK.

In the meantime, NSE Nifty is at 9,039 (down 0.2%). AXIS BANK (up 9.1%) and COAL INDIA (up 4.8%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.32%).

MOTILAL OSWAL Financial Update...

MOTILAL OSWAL net profit stood at Rs 2 billion for the quarter ended December 2019, compared to a profit of Rs 354 million a year ago. Net Sales declined 1.0% to Rs 6.4 billion during the period as against Rs 6.5 billion in October-December 2018.

For the year ended March 2019, MOTILAL OSWAL reported 53.4% decrease in net profit to Rs 2.9 billion compared to net profit of Rs 6.2 billion during FY18.

Revenue of the company grew 10.5% to Rs 25 billion during FY19.

The current Price to earnings ratio of MOTILAL OSWAL, based on rolling 12 month earnings, stands at 12.5x.

This article (MOTILAL OSWAL Plunges by 6%; BSE 500 Index Down 0.7%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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SBI LIFE INSURANCE share price has plunged 5% and is presently trading at Rs 657.

Meanwhile, the BSE 500 Index is at 11,596 (down 1.7%).

Among the top losers in the BSE 500 Index today are SBI LIFE INSURANCE (down 5.2%) and BAJAJ FINSERV (down 8.9%).

MMTC LTD (up 11.8%) and CAPLIN POINT (up 10.3%) are among the top gainers today.

Over the last one year, SBI LIFE INSURANCE has moved up from Rs 605 to Rs 657, registering a gain of Rs 51 (up 8.5%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 315.8%), ABBOTT INDIA (up 90.2%) and NAVIN FLUORINE (up 79.9%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 1.9%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 6.7%). The most traded stocks in the BSE Sensex are SBI and AXIS BANK.

In the meantime, NSE Nifty is at 9,039 (down 0.9%). AXIS BANK (up 8.5%) and COAL INDIA (up 4.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 23.16%).

This article (SBI LIFE INSURANCE Plunges by 5%; BSE 500 Index Down 1.7%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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BAJAJ FINSERV share price has plunged 8% and is presently trading at Rs 5,660.

Meanwhile, the BSE 500 Index is at 11,596 (down 1.3%).

Among the top losers in the BSE 500 Index today are BAJAJ FINSERV (down 8.0%) and MARUTI SUZUKI (down 6.1%).

MMTC LTD (up 12.7%) and CAPLIN POINT (up 10.3%) are among the top gainers today.

Over the last one year, BAJAJ FINSERV has moved down from Rs 6,984 to Rs 5,660, registering a loss of Rs 1,324 (down 19.0%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 315.8%), ABBOTT INDIA (up 91.6%) and NAVIN FLUORINE (up 80.7%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 1.5%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 7.6%). The most traded stocks in the BSE Sensex are SBI and AXIS BANK.

In the meantime, NSE Nifty is at 9,039 (down 0.9%). AXIS BANK (up 8.5%) and COAL INDIA (up 4.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.87%).

BAJAJ FINSERV Financial Update...

BAJAJ FINSERV net profit stood at Rs 20 billion for the quarter ended December 2019, compared to a profit of Rs 14 billion a year ago. Net Sales rose 30.7% to Rs 145.6 billion during the period as against Rs 111.4 billion in October-December 2018.

For the year ended March 2018, BAJAJ FINSERV reported 25.8% increase in net profit to Rs 43.4 billion compared to net profit of Rs 34.5 billion during FY17.

Revenue of the company grew 34.4% to Rs 136 billion during FY18.

The current Price to earnings ratio of BAJAJ FINSERV, based on rolling 12 month earnings, stands at 10.9x.

This article (BAJAJ FINSERV Plunges by 8%; BSE 500 Index Down 1.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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WESTLIFE DEVELOP. share price has plunged 8% and is presently trading at Rs 324.

Meanwhile, the BSE 500 Index is at 11,596 (down 1.3%).

Among the top losers in the BSE 500 Index today are WESTLIFE DEVELOP. (down 8.0%) and BAJAJ FINSERV (down 8.1%).

MMTC LTD (up 12.2%) and CAPLIN POINT (up 10.3%) are among the top gainers today.

Over the last one year, WESTLIFE DEVELOP. has moved down from Rs 431 to Rs 324, registering a loss of Rs 107 (down 24.9%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 315.6%), ABBOTT INDIA (up 91.6%) and NAVIN FLUORINE (up 81.2%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 1.5%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 7.5%). The most traded stocks in the BSE Sensex are SBI and AXIS BANK.

In the meantime, NSE Nifty is at 9,039 (down 1.2%). AXIS BANK (up 7.1%) and COAL INDIA (up 4.5%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.87%).

This article (WESTLIFE DEVELOP. Plunges by 8%; BSE 500 Index Down 1.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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The Indian equity markets have witnessed massive selloff in the last few days. Persistent selling has been due to fears of global recession as coronavirus continues to spread rapidly, taking the markets to its retrograde point from 3 years ago.

Some experts believe that the impact of coronavirus on the economy could be even worse than the global financial crisis of 2008.

Amid these concerns, I believe that the current market scenario provides an excellent opportunity for value fund managers to pick quality stocks across market capitalisation.

It is well known that value funds have witnessed prolonged underperformance due to expensive market and weak corporate earnings, which favoured growth stocks. But in the current market crash, value funds may provide a better margin of safety and act as a good portfolio diversifier because growth stocks too have come under pressure.

ICICI Pru Value Discovey Fund (IPVDF) is one such true to style value fund that was launched in August 2004. It is managed by Mr Mrinal Singh since February 2011.

Graph 1: Growth of Rs 10,000 if invested in ICICI Pru Value Discovery Fund 5 years ago

IPVDF rewarded its investors well in the past with superior returns. However, its poor returns over the past few years have plunged its 5-year compounded growth rate into a negative territory. Notably, most value funds have underperformed during this period due to weak corporate earnings. If you had invested Rs 10,000 in IPVDF five years back on March 18, 2015, its value would have dropped to Rs 9,404 now, while a simultaneous investment in S&P BSE 500 - TRI would now be valued at Rs 10,469.

Table: ICICI Pru Value Discovery Fund's performance vis-a-vis category peers Scheme Name Corpus (Cr.) 1 Year (%) 2 Year (%) 3 Year (%) 5 Year (%) 7 Year (%) Std Dev Sharpe Tata Equity P/E Fund 4,567 1.5 2.11 12.09 13.12 16.15 15.07 -0.03 JM Value Fund 116 5.73 2.12 11.93 13.2 14.75 16.14 0.01 Nippon India Value Fund 2,948 3.72 3.32 10.99 11.01 13.13 16.69 0.01 HDFC Capital Builder Value Fund 4,010 -0.88 2.79 10.74 10.95 13.87 15.44 -0.04 IDFC Sterling Value Fund 2,984 -6.62 -2.76 10.05 10.5 13.17 18.7 -0.03 UTI Value Opp Fund 4,403 5.03 5.67 9.64 7.6 11.4 13.57 0.02 L&T India Value Fund 7,041 0.89 -0.01 9.63 13.5 17.48 16.01 -0.04 Templeton India Value Fund 439 -3.76 -2.64 6.96 8.31 10.09 16.83 -0.11 Quantum Long Term Equity Value Fund 787 0.27 1.88 6.88 8.44 12.49 12.69 -0.15 ICICI Pru Value Discovery Fund 13,446 -0.54 1.65 6.42 9.4 14.51 12.83 -0.12 S&P BSE 500 - TRI   4.76 5.32 11.54 9.86 12.37 14.63 0.01 Returns are on a rolling basis and in %, calculated using Direct Plan - Growth option. Those depicted over 1-Yr are compounded annualised.Data as on March 18, 2020(Source: ACE MF)

*Please note, this table only represents the best performing funds based solely on past returns and is NOT a recommendation. Mutual Fund investments are subject to market risks. Read all scheme related documents carefully. Past performance is not an indicator for future returns. The percentage returns shown are only for indicative purposes.

IPVDF underperformed S&P BSE 500 - TRI index across 1-year, 2-year, and 3-year rolling return basis, though it outperformed the category average on 2-year and 3-year rolling return basis.

Over the longer time horizon of a 5-year rolling period, it delivered returns nearly in line with the index while on a 7-year rolling period it outperformed the index by over 2 percentage points.

In terms of risk-return parameters, IPVDF registered lower volatility as compared to S&P BSE 500 - TRI index as well as the category average. However, its risk-adjusted returns as denoted by Sharpe were lower than the index and many category peers.

Investment strategy

Classified as value fund, IPVDF is mandated to invest at least 65% of its assets in equity and equity related instruments following the value-style approach. The fund strictly sticks to its investment mandate and prefers to stay fully invested in equities. It has the flexibility to invest across market capitalisation. However, the fund maintains a large cap bias along with a significant exposure to mid caps.

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The fund adopts a "Bottom-up" strategy to identify and select undervalued stocks based on an uation of several parameters such as earnings, asset value, free cash flow, dividend yield, management quality, business competitiveness, etc.

Graph 2: Top portfolio holdings in ICICI Pru Value Discovery Fund

IPVDF holds a fairly-diversified portfolio of stocks and sectors. As on February 29, 2020, the fund held 44 stocks in its portfolio with the top 10 stocks accounting for around 53.7% of its assets. Infosys has the highest stock allocation, while it has prominent holdings in Sun Pharma, Bharti Airtel, NTPC, and Mahindra & Mahindra. Notably, the top 10 stocks include a healthy mix of various sectors.

Bharti Airtel and PI Industries were the major contributors to the fund's gain in the last one year, though it lost significant value from its holdings in Sun Pharma, ITC, Mahindra & Mahindra, Indian Oil Corp, Wipro, Exide Industries, among others.

In terms of sectors, the fund has the highest exposure to Infotech were it has allocated 18.4% of its portfolio. Pharma, Power, Telecom, Auto, Transportation, Finance and Consumption are the other major sectoral holdings.

Suitability of ICICI Pru Value Discovery Fund

IPVDF has a track-record of identifying discounted sectors and picking quality undervalued stocks which may turn out to be rewarding in the long run. The fund has delivered superior returns in the past at a reasonable level of risk. Though the fund maintains a fairly diversified portfolio, it takes time for undervalued stocks to be discovered by the market.

Hence, certain bets of the fund may not pay off immediately and the scheme may witness bouts of short-term underperformance. This makes IPVDF suitable for investors with high risk appetite and an investment horizon of at least 5 years.

Note: This write up is for information purpose and does not constitute any kind of investment advice or a recommendation to Buy / Hold / Sell a fund. Returns mentioned herein are in no way a guarantee or promise of future returns. As an investor, you need to pick the right fund to meet your financial goals. If you are not sure about your risk appetite, do consult your investment consultant/advisor. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.

Author: Divya Grover

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer: The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

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Last evening my neighbour, Mr Sharma, dropped by to discuss his concerns. He was panic-stricken, the impact of coronavirus pandemic spreading in Mumbai weighed heavily on him.

"Due to my chronic health condition, I can't step out; so, decided to redeem some schemes online last night. But I saw that my portfolio has been underperforming. What should I do?", he spoke with fear.

"Don't panic! Consider reviewing your investment portfolio", I empathetically responded to calm his anxiety down.

"Portfolio Review? How will that help?", asked Mr Sharma.

[Read: Are You Keeping A Check On The Financial Health Of Your Mutual Fund Portfolio?]

I elucidated that the equity market crash that happened is due to several key factors and Coronavirus pandemic situation, is one of the reasons.

As seen in the graph below the markets were showing green shoots of recovery from last year after the finance minister proposed tax rate cuts, along with more measures to uplift the dwindling economy. The effect of it was seen when S&P BSE Sensex touched to 61220.86 points on Jan 17, 2020, and on March 16, 2020, the markets crashed to 45885.8 points, a whopping drop of -33%.

Graph: S&P BSE Sensex falling off the cliff

The key factors weighing on the Indian equity markets are:

Coronavirus pandemic. The sharp drop in oil prices. Talks of global recessions doing the rounds. Fear of inflation-particularly food prices-moving. Central bank turning accommodative and cutting rates do be in line with a global rate cut FIIs pulling out money.

And the recent Yes Bank moratorium as part of reconstruction... is a risk-averse atmosphere.

--- Advertisement --- Investing Legends are Quitting the Markets...Yes, it's true. Several investing legends are quitting the market. And we believe this has just triggered what could be the biggest investing opportunity of 2020. Why do we say that? How can you get in on this opportunity? Read full details here... ------------------------------

Remember, market mood swings will always be unpredictable.

And the current situation, especially of the pandemic, is a matter of grave concern coupled with the global growth as major trade is affected. When this unpleasant mood is alleviated remains to be seen.

But as an investor, one should not forget that since equity mutual funds are predominantly investments into the equity markets, they too will have an impact. However, the short-term underperformance should not be a deterrent for your journey of wealth creation.

[Read: Bears Run Loose. But Here Is Why Mid and Small Caps May See the Best Recovery]

Instead, focus long term and review your portfolio periodically. Timely review of the mutual fund schemes is an indispensable part of the journey of wealth creation and accomplishing financial goals.

Review and monitor your portfolio periodically to keep a track on the growth performance of the portfolio before the financial goal/s transpires.

What happens if you do not review your portfolio?

You do not achieve your financial goals.

[Read: Are These 6 Behavioural Biases Preventing You From Investing?]

Generally, mutual funds are professionally managed by experienced fund managers from reputed fund houses which conduct thorough research and adhere to the best processes and systems.

The performance of a mutual fund scheme is linked to various factors---internal and external.

When you need to review your portfolio, uate the schemes to make renewals, rethink your investments based on the performance frequently, and weed out the non-performing ones to replace those with a high probability of good returns after every 6 months or at least a year. In short, you need to keep track of your portfolio.

After all, there are benefits of reviewing your mutual fund portfolio:

Helps to spot the weeds or duds that drag the performance of your portfolio down. Will enable you to add a suitable alternative mutual fund scheme. You can add a new scheme that has outperformed than the benchmark and peers across cycles you weren't aware of and may help you accomplish your goals faster. Allows you to optimally restructure your portfolio as per your risk profile, present financial circumstance, and investment time horizon. The portfolio must be aligned to your envisioned financial goals at all times.

"So how should one analyse the performance?", Mr Sharma interjected.

Consider analysing the performance of your mutual fund investments, not just in the recent past, dig deeper. Try to find out how have they performed over different market phases.

Consistency of your mutual fund portfolio across market cycles plays an important role in your success as an investor.

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Inconsistent funds may generate high returns in the bullish phase, but what purpose will it serve, if it can't protect the downside under bearish market conditions?

Don't rush to sell them for their occasional underperformance, only eliminate persistent underperformers.

[Read: Things To Do To Keep Track Of Your Mutual Fund Performance & Investments]

Note that, interestingly, under bearish market conditions, mutual funds find it difficult to outperform Nifty 50; and under bull market conditions, it's hard to outperform Nifty 500.

Primarily, choose worthy schemes only after uating the performance of schemes based on qualitative and quantitative parameters to add to your portfolio.

And later, you need to track their performance regularly. Remember every mutual fund comes with its strengths and weaknesses, and it actually depends whether it suits the investors, risk profile, broader investment objectives, financial goals, and the investment horizon before goals are realised, among many other aspects.

So, just as you avoid self-medication and consult a doctor when it comes to your medical health, it is best to approach a Certified Financial Guardian, who can comprehensively review your mutual fund portfolio and provide all the information and recommendations in a 'special customized report'.

A mutual fund portfolio review service will offer a course correction, if needed, and serve in the interest of your financial health and wellbeing. Get your portfolio reviewed today!

Mr Sharma thanked me and returned home a little relaxed.

Conclusion:

An unhealthy portfolio not just stops you from fulfilling your financial goals, but also weakens your financial future.

This reminds us of the wisdom in the adage: "A stitch in time saves nine".

The truth is, NOT all mutual funds are good.

Most importantly, not all mutual funds are good for YOU.

So, timely review of your portfolio to rebalance and realigned can help you accomplish the envisioned financial goals.

Editor's note: I strongly suggest that you avail of PersonalFN's Mutual Fund Portfolio Review service. PersonalFN's ethical and unbiased investment advisers will comprehensively review your mutual fund portfolio to offer a course correction.

Get recommendations on your existing portfolio of sell/buy/hold, keeping in mind the five points discussed in this article. The portfolio will be revamped based on your requirement and risk profile.

Get your portfolio reviewed today!

Author: Aditi Murkute

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer: The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

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Is today the right time to increase equity exposure?

Have the markets bottomed out? Or will there be more troubles ahead?

These questions have probably crossed your mind at least once if you are looking to take advantage of the recovery from the current equity market crash.

Markets have become highly unpredictable now with the impact of coronavirus, on the world economy, getting graver with every passing day indicating more troubled times ahead.

Its spread has affected large, mid, and small caps alike. While larger companies may be better poised to absorb this economic shock, smaller companies may be at high risk as their fortunes are closely tied to the economic growth.

In January 2020, I had mentioned that this year could be the best for investing in mid and small cap funds with a long term view as they are likely to become major beneficiaries of the expected economic recovery.

And despite sharp correction in indices and a gloomy environment, I reiterate it.

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Here is why...

The S&P BSE Midcap index is down from its peak level of 18247.6 in January 2018 to 11881.6 now, while S&P BSE Smallcap index is down from 20047 to 11095.2.

This gives the mid cap index an upside potential of ~54% and a whopping ~81% to the small cap index if they get back to their past peak levels over the next few years.

Thus, the sharp decline has made the small and mid caps even more attractive. Though be forewarned that volatility is likely to continue in the near future.

Graph: Mid and small caps' mighty fall from the peak

What would drive the growth?

At the beginning of the year, there were strong hopes of economic recovery, though the unforeseen event of coronavirus has put it back in the doldrums. The Health and Safety restriction on social gatherings, travel bans, disruption of supply chain for manufacturing in some sectors, etc. has led to the drop in economic activity.

A lot now depends on how quickly the spread of virus is contained. The RBI has said that it is closely monitoring the situation and is ready to take necessary measures for market stability.

Once the conditions improve, markets are likely to bounce back strongly.

The silver lining lies in the valuations. P/E of midcaps is now far lower than the levels recorded in 2017 and 2018. This offers a decent value buying opportunity at this juncture with a reasonable margin of safety.

So if you have a long term horizon and an appetite for high risk, nothing should stop you from taking exposure to mid and small caps. But picking quality individual stocks with strong fundamentals and high growth potential can be a difficult task. Opt to invest in actively managed and worthy mutual funds that can generate wealth for you.

Table: Mid and small cap funds outshine the index Category YTD (Absolute %) Midcap funds   Best performing fund -9.75 Worst performing fund -20.78 Category average -13.92 S&P BSE Midcap - TRI -20.57 Smallcap funds   Best performing fund -3.09 Worst performing fund -21.3 Category average -14.2 S&P BSE Smallcap - TRI -19.01 Data as on March 16, 2020(Source: ACE MF, PesonalFN Research)

Even as mid and small cap index continued to sink, most mid cap funds with an outperformance rate of 96.2% and small cap funds with an outperformance rate of 85.7% have managed to contain the downside.

The top performing mid cap fund delivered an alpha of approximately 11 percentage points over the S&P BSE Midcap index, whereas the top performing small cap fund generated an alpha of around 16 percentage points over the S&P BSE Smallcap index.

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But has this outperformance come at reasonable risk?

The true essence of alpha is to generate 'extra return without taking extra risk'. And quite a few well managed funds have the ability to generate alpha for investors, at a reasonable risk. These may be an optimum choice to gradually add up your equity exposure to, especially in conditions like now.

At PersonalFN, we have identified such five high alpha funds which include a high potential mid cap fund and a small cap fund.So, instead of staying on the sidelines and waiting to time your entry point, scale up your equity exposure through some well-managed high alpha generating funds.

Even if further downside remains, staggering your investment via SIP will help you average out your investment cost and aid in reducing the impact of volatility.

Author: Divya Grover

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer: The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

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Last week when I covered a note on Union Midcap Fund, I mentioned how the equity markets have been affected due to the outspread of coronavirus globally. Added to the existing woes of domestic and international macro and microeconomic factors, another news broke on Friday, March 6, 2020, that caused markets to crash further.

A hot favourite stock of one of the leading bank's NPAs couldn't be reduced and the governance issues that came to light have disrupted and hurt investors deeply. Unfortunately, the possibility of further turbulence can in no way be ruled out.

[Read: How Yes Bank's Fall Impacts Your Mutual Funds]

Despite the value buying opportunities, mid-caps and small caps are going to have a strain along with little pressure on large caps as well. In such times, Indiabulls Multicap Fund is launched.

Indiabulls Mutual Fund is of the view, currently focusing only on one segment of market cap is not the best bet for investment. Hence, a fund that has the flexibility to invest across the market capitalization can generate returns for the investors in long run.

That's why Indiabulls Multicap Fund, an open-ended equity scheme which will invest predominantly across market cap segments (i.e. large-cap, mid-cap, and small-cap), was launched.

Being a multicap fund, it is well-diversified, due to the flexibility to invest in the best ideas within the cap curves, the downside risk involved is minimized in turbulent times and can provide better risk-adjusted returns compared to single cap funds.

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Multi-Cap funds seek to invest across market capitalization segments from large-cap to mid-cap to small-caps. The fund manager has complete flexibility to manage allocation between different sectors, market cap segments, styles, etc.

IMF would typically maintain a maximum allocation towards Large Caps and can go up to 80% based on prent market conditions. Allocation to large caps would provide stability to the portfolio with reasonable returns, whereas its exposure to Mid and Small Caps would be alpha accretive.

[Read: Why You Should Not Ignore Personalized Asset Allocation While Investing]

Note that on the risk-return curve, a multi-cap fund fits in between large-cap funds and mid-and small-cap funds. So, do note that although multi-cap funds come with some safety element of large caps, they also carry the risk associated with mid and small caps. Hence investors should consider investing in multi-cap funds only if their risk appetite permits, i.e. it is high, and if the investment time horizon is at least 5 years.

Table 1: Details of Indiabulls Multicap Fund Type An open ended equity scheme investing across large cap, mid cap and small cap stocks Category Multi Cap Fund Investment Objective To generate medium to long term capital growth by investing in a diversified portfolio consisting of equity and equity related instruments across market capitalization. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns. Min. Investment Rs 500 and in multiples of Re 1 thereafter Face Value Rs 10 per unit Plans Regular Direct Options Growth* Dividend (Pay-out and Reinvestment*) *Default option Entry Load Not Applicable Exit Load Nil Fund Manager Mr Veekesh Gandhi (For Equity Segment) and Mr. Vikrant Mehta (For Debt Segment) Benchmark Index Nifty 500 TRI Issue Opens March 04, 2020 Issue Closes: March 18, 2020 (Source: Scheme Information Document) How will the scheme allocate its assets?

Under normal circumstances, the asset allocation will be as follows:

Table 2: IMF 's Asset Allocation Instruments Indicative Allocations(% of net assets) Risk Profile (Minimumn - Maximum) (High/ Medium/ Low) Equity and Equity Related instruments 65% to 100% High - Large Cap Companies - 50% to 100% High - Mid Cap Companies - 0% to 30% High - Small Cap Companies - 0% to 20% High Debt (including Money Market Instruments & units of debt & liquid category schemes). 0% to 35% Low to Medium

Large Cap, Mid Cap, Small Cap companies are those companies which are classified as such by Securities and Exchange Board of India (SEBI) or Association of Mutual Funds in India (AMFI) from time to time. In case of subsequent updation /change suggested by SEBI/AMFI, fund manager will rebalance the portfolio within 30 days.At present the large Cap, Mid Cap & Small Cap companies are classified as below:

Large Cap: 1st - 100th company in terms of full market capitalization. Mid Cap: 101st - 250th company in terms of full market capitalization. Small Cap: 251st company onwards in terms of full market capitalization. (Source: Scheme Information Document) What will the Investment Strategy be? Equity Investments:

The Indiabulls Multicap Fund would adopt a top-down and bottom-up approach of investing and will aim at being diversified across various industries and / or sectors and/ or market capitalization. The investment emphasis of the scheme would be on identifying companies with sound corporate management and prospects of good future growth.

Essentially, the focus would be on stocks driven by long-term fundamentals. However, short term opportunities would also be seized, provided underlying values support these opportunities.

A portion of the scheme will also be invested in IPOs, emerging sectors, concept stocks, and other primary market offerings that meet our investment criteria. The scheme would invest a substantial portion of its investible assets (65% - 100%) in equity and equity-related instruments.

The scheme may have prudent exposure to Futures & Options (F&O) to capture opportunities arising out of market imperfection and to hedge the portfolio, whenever necessary.

Stock identification process would include:

Company and business analysis, Industry analysis, Future plans, Projections, Technical analysis and Valuations.

Based on the analysis of various financial and non-financial parameters, the stocks will finally be shortlisted for the portfolio construction process. The fund manager of the IMF scheme would also take cues from the global macroeconomic trends, Government policy and monetary policy actions to decide on the asset allocation.

The allocations will be within the limits defined in the asset allocation table. Apart from in-house research, external research is used as an important source of information. Various magazines, journals, newspapers, and databases also help in the research process.

The Scheme will have a reasonably well-diversified portfolio without being overly diversified. The investment environment, valuation parameters, return ratios, competitive positioning, and other investment criteria will determine the sector allocation, stock weights, and investment style.

The fund manager will construct the portfolio using a bottom-up approach and will leverage the flexibility to invest across the market capitalization.

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Debt Investments: The fund endeavours to invest in quality debt instruments across maturities based on the interest rate outlook The fund will be actively managed The scheme invests in debt instruments such as government securities, corporate debentures and bonds, quasi-government bonds and money market instruments

The IMF will retain the flexibility to invest in the entire range of debt instruments and money market instruments. Investment in Debt securities and Money Market Instruments will be as per the limits in the asset allocation table of the Scheme, subject to permissible limits laid under SEBI (MF) Regulations.

The actual percentage of investment in various fixed income securities will be decided after considering the prevailing political conditions, the economic environment (including interest rates and inflation), the performance of the corporate sector and general liquidity and other considerations in the economy and markets. The investment management team is allowed full discretion to make a sale and purchase decisions within the limits established.

Who will manage the Indiabulls Multicap Fund?

Mr Veekesh Gandhi will manage the equity segment of the Indiabulls Multicap Fund and Mr Vikrant Mehta will manage the debt segment.

Mr Veekesh Gandhi holds an MBA (Finance) from the University of Hartford (USA). He has more than 18 years of experience in the field of Banking and Capital markets.

He was earlier associated with DSP Merrill Lynch Ltd, SSKI Securities and Motilal Oswal Securities, wherein he was responsible for tracking the BFSI sector and research on investment ideas. He is extensively research oriented and follows a Top-Down approach for Large Caps and Bottom-Up approach for Mid / Small Cap. He is well versed in Indian and Global Macros.

Some of the schemes which Mr Veekesh Gandhi manages/co-manages at the fund house include Indiabulls Blue Chip Fund, Indiabulls Value Fund, Indiabulls Savings Income Fund, Indiabulls Tax Savings Fund, Indiabulls Arbitrage Fund, Indiabulls Nifty50 Exchange Traded Fund, and Indiabulls Equity Hybrid Fund.

Mr Vikrant Mehta is an M.S. in Engineering and a CFA from The Institute of Chartered Financial Analysts of India. He has 24+ years of fixed income and emerging markets experience across fund management, macro research, trading, and sales.

Prior to joining Indiabulls AMC, Mr. Mehta worked with PineBridge Investments, where he was the Head of Fixed Income at PineBridge India AMC. Subsequently, he was a sovereign rate and currency specialist for Asia, in his role as an Asian sovereign analyst with PineBridge. Vikrant's other work assignments have been with NVS Brokerage, JM Morgan Stanley and Mata Securities.

Some of the schemes which Mr Vikrant Mehta manages/co-manages at the fund house include Indiabulls Value Fund, Indiabulls Savings Income Fund, Indiabulls Liquid Fund, Indiabulls Ultra Short Term Fund, Indiabulls Savings Fund, Indiabulls Tax Savings Fund, Indiabulls Arbitrage Fund, Indiabulls Income Fund, Indiabulls Banking & PSU Debt Fund, Indiabulls Nifty50 Exchange Traded, Indiabulls Equity Hybrid Fund, and Indiabulls Overnight Fund.

The outlook of Indiabulls Multicap Fund:

To achieve the objective, experienced fund managers will actively manage the Indiabulls Multicap Fund to create a well-diversified portfolio with no market cap bias. For the selection of stocks to hold in the portfolio, internal research will be done using a top-down approach.

Hence, given the asset allocation, the fortune of the Indiabulls Multicap Fund will be closely hinged on the performance of the stocks held in the portfolio. With no restriction towards any market cap, the investment strategy of the fund would be to invest in opportunities across sectors and market cap in line with the Fund Managers' conviction.

Moreover, the Indiabulls Multicap Fund holds the flexibility to have a higher allocation to any market cap category to suitably position the portfolio in line with the investment outlook. But constructing the portfolio would be a challenging task for the fund managers in the present scenario. Despite the mid-cap and small caps, stocks being available at discounted prices, however the large caps stocks are still at high valuations. Hence, the active management of stocks remains the key to wealth creation.

Note that being a multi-cap fund, IMF does carry a notch higher risk compared to typical large-cap funds; they are usually less volatile than mid-cap funds.

[Read: Best Multicap Funds to Invest in 2020 to Ride the Economic Recovery Wave]

Author: Aditi Murkute

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer: The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

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Last Friday when I wrote an article about the equity market catching the flu, I had no idea that it was no ordinary flu and that it would turn out to be a pandemic in a week.

What's causing pandemic crash in the global market?

In the last few days, there has been a huge selloff in global equity markets. Massive decline in international oil prices, WHO declaring coronavirus as pandemic, countries imposing shutdowns, and its consequent impact on the world economy have hurt investors' sentiments across globe.

As global markets crashed, the Indian market which usually tracks major global indices fell in the rout as well.

Last evening I was chatting with my cousin, a keen follower of equity markets, about the market's biggest single day fall ever, coronavirus, among other things, and he pointed out that the SGX Nifty has dropped over 7%, which means that the Sensex could have a gap down opening of about 3,000 points on Friday, 13 March.

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As anticipated, the S&P BSE Sensex and Nifty plunged sharply on opening. Not just that, it hit 10% on the lower circuit, leading to a 45-minute halt on trading.

Sanity prevailed after the trading halt and the market staged a smart recovery, gaining 4,715 points from the day's low. However, it is still about 20% down from the peak it had achieved in January, 2020. The market crash has eroded trillions of investors' wealth in the last few days, taking the Sensex and Nifty back to the 2017-18 levels.

Graph: Virus spread triggers massive selloff

Over 1,200 stocks hit 52-week lows in today's trade including HDFC Bank, Reliance, TCS, Sun Pharma, Tata Motors, and JSW Steel.

Does this provide an opportunity to value-buy?

American Businessman and philanthropist, Shelby Cullom Davis once said "You make most of your money in a bear market, you just don't realise it at the time."

Till now valuations in many stocks were high despite the sharp correction over the past few months due to economic slowdown, creating a lot of room for correction. The ongoing market crash has lead to a significant correction in the value of such stocks.

Though markets may continue to see-saw between gains and losses in the near term due to various domestic and global factors, there are lot of positive signs visible that can work well for the economy as well as the equity market over the long term.

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International oil prices have plunged due to price wars between major oil producing countries and this can benefit Indian economy to some extent. There will arise new export opportunities for India as China may lose market share as a result of industrial shutdown to contain the spread of virus.

Coronavirus has proved to be an additional setback for the economy and may cause delay in recovery. However, it is likely to cause only temporary pain -- India is likely to gain meaningfully over the next few years from the constant efforts by the government and RBI to support growth.

This makes it an opportune time to pick and invest in fundamentally strong stocks available at attractive valuations. Once the markets bounce back, investors will be rewarded immensely for their patience.

But since investing in individual stocks can be risky, investing in well-diversified and efficiently managed mutual funds can prove to more rewarding.

It is difficult to predict which market capitalisation will benefit the most from the recovery. Thus, it makes sense to diversify your mutual fund portfolio based on your risk appetite, investment objective and time horizon to goal.

The 'Core & Satellite' approach is one of the most successful and time-tested method to diversify your portfolio.

The 'Core' part consists of the more stable, long-term holdings of the portfolio consisting of large-cap fundmulti-cap fund, and value style fund.  Whereas, the 'Satellite' part consisting of mid-cap fund, large & mid-cap fund, and an aggressive hybrid fund can help push up the overall returns of the portfolio.

Through this approach your portfolio will be not only be well placed to outperform during the market recovery, but also be able to contain the downside if the volatility persists.

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Markets can be highly unpredictable and therefore one must avoid timing the market. If you have invested in research-backed portfolio based on your personal requirement, then your strategy should not vary with changing market conditions. You may opt for the systematic mode of investment to invest in a staggered manner to reduce the overall impact of volatility.

That said, if you are financial goal is approaching close, it would be better to shift your investments to safer avenues.

Author: Divya Grover

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer: The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

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Lakhs of crores of investors' wealth have been wiped out in just few days. Equity markets are on a free fall with no end in sight, succumbing to the double whammy of slowing economy and coronavirus.

To add to it, price wars between major oil producing countries and financial instability caused by the Yes Bank debacle is keeping equity markets on its toes.

Last week I covered an article which explained how a strategic portfolio of equity mutual funds can protect your long-term wealth from such market mayhem.

But what about investment in debt mutual funds?

Can it provide solace from the carnage in equity markets?

If you are an investor in debt mutual funds, recent developments in the bond market provide a reason to cheer.

India's 10-year benchmark yield has fallen below the demonetisation level, leading to a rally in bonds; as you know, bond yield and prices are inversely related.

The benchmark yield fell by 1.92%, highest single day decline, to a record low of 6.07% on Monday, March 09. Along with it yields of securities with shorter maturities are declining as well.

Reasons for falling bond yields: RBI's liquidity operations through unconventional steps

In 2019 RBI cut policy rates by a cumulative 135 bps to boost liquidity in an ailing economy. But as the transmission of this cut to customers proved to be slow, the central bank sought other measures.

The first step in this was Operation Twist conducted on December 23, 2019 through which RBI bought 10-year government bonds worth Rs 10,000 crore while selling four short-term government bonds of equal value. The aim of this was to moderate the rates of medium to long term securities.

Next, RBI conducted four Long-term Repo Operation (LTRO) worth Rs 25,000 crore each to provide liquidity to banks for their 1-3-year needs at the prevailing repo rate. This helped bring down yields for short-term securities.

Graph: India's 10-year bond yield declined sharply in the past few months Virus fears fuel rate cut expectation

In an unexpected move, the US Fed cut interest rate by 50 bps to combat the risk of coronavirus on US economy. Following the US, Malaysia and Australia also reduced policy rates. It is expected that RBI may follow suit to support growth through rate cuts and other liquidity measures.

Last week RBI announced that it is closely monitoring the impact of coronavirus on financial market and is ready to take necessary action, including rate cut, to ensure orderly functioning of financial markets. The expectation of rate cut pushed bond yields lower.

Falling crude prices a positive for fiscal balance

Crude oil prices have been plunging ever since coronavirus and its impact on global economic activity raised concerns over demand for fuel. Oil prices reached below $30 a barrel on March 09, after OPEC failed to strike a deal with ally Russia on production cuts to support prices, causing Saudi Arabia to slash prices. India a net importer of crude is likely to benefit from lower crude prices as it will bring down concerns regarding fiscal deficit.

In addition to fuel prices, correction in vegetable prices would also contribute to lower inflation rate, providing more room for rate cut.

What it means for debt mutual funds

The falling yields have made debt mutual funds attractive for investors. According to Mr N Venkatesh, Chief Executive, AMFI, inflows in debt mutual funds may start improving with the falling yields.

Just like equity funds, debt mutual funds too must be selected based on your risk appetite and investment horizon.

Debt mutual funds with longer maturities provide better returns and they tend to perform well when interest rates are falling. However, they are more sensitive to changes in prices. Therefore, they may prove to be riskier in uncertain times such as now.

Thus, you may consider sticking to shorter duration funds such as short-term, ultra-short term, liquid, and overnight funds. However, if you are willing to take extra risk, consider allocating a portion of your debt portfolio in dynamic bond funds so as to take advantage of changing rates.

Ensure that you select even short duration funds carefully. In the past, some fund houses have proved to be habitual risk takers, taking investors for granted. The latest example being the Yes Bank crisis, where some shorter duration funds had exposed its investors to higher risk.

So when in doubt, prefer the safety of principal over returns. Choose debt mutual funds where the fund house has a robust investment process and risk management strategy in place and where the fund manager does not chase returns by taking higher credit risk.

At PersonalFN, we select and recommend mutual funds on quantitative and qualitative parameters using our S.M.A.R.T Score Matrix:

S - Systems and Processes M - Market Cycle Performance A - Asset Management Style R - Risk-Reward Ratios T - Performance Track Record

If you wish to select worthy mutual fund schemes, I recommend you to subscribe to PersonalFN's unbiased premium research service, FundSelect.

Each fund recommended under FundSelect goes through our stringent process, where they are tested on both quantitative as well as qualitative parameters.

Every month, PersonalFN's FundSelect service will provide you with insightful and practical guidance on equity mutual funds and debt schemes - the ones to Buy, Hold, or Sell.

If you are serious about investing in a rewarding mutual fund scheme, Subscribe now!

Author: Divya Grover

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer: The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

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I wanted to liquidate some of the schemes from my investment portfolio to gather funds for my upcoming trip to Japan. To choose from the existing best performing mid cap funds I hold has been difficult as the portfolio has been in the red, due to spread of Coronavirus.

I read an article that mentioned how Coronavirus has disrupted the trade globally, which has tanked the equity markets as most of the electronic goods and components are sourced from China.

Equity markets have been volatile due to a host of domestic and international macro and microeconomic factors. Despite the value buying opportunities, much of the pressure was seen in the small-cap index and mid-cap index.

The global concern of the virus is further going to impact the market movement and put more strain on the small cap and mid cap space. And during this time one news article reported a launch of Union Midcap Fund, does launching of a new fund makes sense now?

Intrigued, I delved deeper to know more about Union Midcap Fund. It is an open-ended equity scheme that will invest predominantly in stocks of companies that fall within range of 101st - 250th company in terms of full market capitalization.

Union Mutual Fund is of the view that Midcaps have the potential to generate wealth. Midcaps are basically sweet spots; they are leaders in small sectors that will grow to be a future large cap. Hence despite the short-term volatility, they are better multipliers in the long term.

Image 1: Mid cap stock's position (Source: Union Midcap Fund Presentation)

If you are aware as per SEBI's categorisation norms, an equity-oriented scheme is characterized as a midcap fund only if it invests a minimum of 65% of its total corpus in equity & equity related instruments of midcap stocks (i.e. companies from 101st to 250th on full market capitalisation basis).

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Being an equity scheme this fund does carry extreme risk. On the risk-return spectrum, it is placed below Small-Cap and Thematic funds.

[Read: How to uate your risk appetite and risk tolerance level?]

If you have the stomach for moderately high-risk appetite and investment time horizon of at least 5 years, then you may skew your equity portfolio to a midcap fund.

Table 1: Details of Union Midcap Fund Type An open-ended equity scheme predominantly investing in mid cap stocks. Category Mid Cap Fund Investment Objective To achieve long term capital appreciation and generate income by investing predominantly in equity and equity related securities of mid cap companies. However, there is no assurance that the Investment Objective of the Scheme will be achieved. Min. Investment Rs 5,000 and in multiples of Re 1 thereafter Face Value Rs 10 per unit Plans Regular Direct

Options Growth* Dividend (Pay-out, Reinvestment and Sweep) *Default option Entry Load Nil Exit Load 1% if units are redeemed or switched out on or before completion of 1 year from the date of allotment of units. Nil if units are redeemed or switched out after completion of 1 year from the date of allotment of units Fund Manager Mr Vinay Paharia and Mr Hardick Bora Benchmark Index NIFTY Midcap 100 Index$(TRI) Issue Opens March 02, 2020 Issue Closes: March 16, 2020

$Disclaimer: The Product(s) are not sponsored, endorsed, sold or promoted by NSE INDICES LIMITED (formerly known as India Index Services & Products Limited ("IISL")). NSE INDICES LIMITED does not make any representation or warranty, express or implied, to the owners of the Product(s) or any member of the public regarding the advisability of investing in securities generally or in the Product(s) particularly or the ability of the NIFTY Midcap 100 Index to track general stock market performance in India. The relationship of NSE INDICES LIMITED to the Issuer is only in respect of the licensing of the Indices and certain trademarks and trade names associated with such Indices which is determined, composed and calculated by NSE INDICES LIMITED without regard to the Issuer or the Product(s). NSE INDICES LIMITED does not have any obligation to take the needs of the Issuer or the owners of the Product(s) into consideration in determining, composing or calculating the NIFTY Midcap 100 Index. NSE INDICES LIMITED is not responsible for or has participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. NSE INDICES LIMITED has no obligation or liability in connection with the administration, marketing or trading of the Product(s). NSE INDICES LIMITED do not guarantee the accuracy and/or the completeness of the NIFTY Midcap 100 Index or any data included therein and NSE INDICES LIMITED shall have not have any responsibility or liability for any errors, omissions, or interruptions therein. NSE INDICES LIMITED does not make any warranty, express or implied, as to results to be obtained by the Issuer, owners of the product(s), or any other person or entity from the use of the NIFTY Midcap 100 Index or any data included therein. NSE INDICES LIMITED makes no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, NSE INDICES LIMITED expressly disclaim any and all liability for any claims ,damages or losses arising out of or related to the Products, including any and all direct, special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages

(Source: Scheme Information Document) How will the scheme allocate its assets?

Under normal circumstances, the asset allocation will be as follows:

Table 2: UMF 's Asset Allocation Instruments Indicative Allocation(% of Net Assets) Risk Profile Minimum Maximum Equity and Equity related instruments of Mid Cap companies# 65 100 High Equity and Equity related instruments of companies other than Mid Cap companies# 0 35 High Debt and Money Market Instruments 0 35 Low to Medium Units issued by REITs and InvITs 0 10 Medium to High

# In accordance with SEBI Circular No. SEBI/HO/IMD/DF3/CIR/P/2017/114 dated October 6, 2017, as amended from time to time, Large Cap, Mid Cap and Small Cap are defined as follows:Large Cap: 1 st -100th company in terms of full market capitalizationMid Cap: 101st - 250th company in terms of full market capitalizationSmall Cap: 251st company onwards in terms of full market capitalization.Investment in Securitized Debt - Nil. The Scheme does not intend to invest in debt securities having structured obligations (SO rating) and/or credit enhancements (CE rating).Investments in Derivatives - upto 50% of the net assets of the scheme.Investments in Securities Lending - upto 20% of its net assets of the Scheme (where not more than 5% of the net assets of the Scheme will be deployed in securities lending to any single counterparty).

(Source: Scheme Information Document) What will the Investment Strategy be?

The Union Mutual Fund seeks to achieve long term capital appreciation and generate income by investing predominantly in equity and equity related securities of mid cap companies. To achieve the stated investment objective, the scheme will make investments as per the asset allocation pattern of the Scheme.

The scheme will invest minimum 65% of the total assets in equity and equity related securities of midcap companies, which in the opinion of the fund manager offers superior risk reward payoff. To manage the assets of the scheme, the fund manager and his investment team will follow an active strategy and will predominantly follow a bottom up approach of stock selection.

[Read: Two Approaches To Portfolio Construction Followed By Fund Managers]

The investment team shall scan the market for opportunities and shall uate the individual opportunities on their merits, leading to the bottom-up investment decision. Other aspects like asset allocation and sector allocation shall also be considered.

Further, the fund manager has the discretion to invest in equity and equity related instruments of companies other than mid cap companies (i.e. companies which have a market capitalisation of above or below the market capitalisation range of midcap companies), in line with the asset allocation pattern of the Scheme.

The fund manager could use derivatives within the permissible limits for hedging and rebalancing the portfolio or such other purpose as may be permitted under the Regulations from time to time. Investment in Debt and Money Market Instruments will be as per asset allocation pattern mentioned in this document, subject to the investment limits prescribed under the SEBI (Mutual Funds) Regulations, 1996 and circulars issued thereunder.

Who will manage the Union Midcap Fund?

Union Midcap fund will be co-managed by Mr Vinay Paharia and Mr Hardick Bora

Mr Vinay Paharia is a commerce graduate and has done masters in management studies (MMS). He is currently the Chief Investment Officer at the AMC and has over 17 years of work experience in Equity Research and Fund Management.

Before joining Union Mutual Fund, Mr Vinay Paharia was working with Invesco Asset Management (India) Private Ltd. as the Equity Fund Manager for more than a year. Prior to it, he was associated with DBS Cholamandalam AMC, K R Choksey Shares and Securities Pvt Ltd and First Global Stockbroking Pvt Ltd as Equity Research Analyst.

Some of the schemes, that Mr Vinay Paharia manages at the fund house are; Union Multi-Cap Fund (Formerly Union Equity Fund), Union Value Discovery Fund, Union Focused Fund, Union Long Term Equity Fund (Formerly Union Tax saver scheme), Union Small Cap Fund, Union Equity Savings Fund, Union Balanced Advantage Fund, Union Largecap Fund, Union Large & Midcap Fund, Union Capital Protection Oriented Fund - Series 7 and Union Capital Protection Oriented Fund - Series 8.

Mr Hardick Bora has done his Bachelors in Banking and Insurance from University of Mumbai and is a CFA - charterholder with the CFA Institute, USA. He is currently a Co-fund Manager at the AMC and has over 11 years of experience in the financial services sector.

Before joining Union Asset Management Company Private Limited as Research Analyst, Mr Hardick Bora he has worked with Motilal Oswal Securities Ltd. as Sr. Manager of Institutional Research (Pharmaceutical), Dolat Capital Markets Pvt. Ltd. as Research Associate (Pharmaceutical & Agrochemicals), Khandwala Securities Ltd. as Research Associate (Pharmaceutical), Yen Management Consultants Pvt. Ltd. and 3 Global Services Pvt. Ltd. as Customer Care Advisor.

Some of the schemes, that Mr Hardick Bora co-fund manages at the fund house include Union Small Cap Fund, Union Equity Savings Fund, Union Balanced Advantage Fund, Union Largecap Fund, and Union Large & Midcap Fund.

Table 3: Performance table of the schemes managed by the fund managers Scheme Name Benchmark Name Managed Since Scheme Returns (%) Benchmark Returns (%) Union Balanced Advantage Fund S&P BSE Sensex 50 Jun-18 6.04 3.29 Union Long Term Equity Fund S&P BSE 500 - TRI Mar-18 5.21 3.61 Union Value Discovery Fund Dec-18 -1.41 2.58 Union Focused Fund Aug-19 8.42 4.2 Union Multi Cap Fund Mar-18 6.17 3.61 Union Small Cap Fund Nifty Smallcap 100 - TRI Mar-18 -2.59 -13.65 Union Largecap Fund S&P BSE 100 - TRI Jun-19 -2.33 -3.4 Union Equity Savings Fund CRISIL Short Term Debt Hybrid 75+25 Fund Index Aug-18 5.79 6.85 Union Large & Midcap Fund S&P BSE 250 LargeMidCap Index - TRI Dec-19 0.8 -5.77 (Source: ACE MF, PersonalFN Research)(Data as of March 4, 2020)

As can be seen from the performance table, most of the schemes co-managed by the fund managers are being managed since March 2018, they have performed better. But the time frame is still less to assess the management style.

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The outlook for Union Midcap Fund

In order to achieve the investment objective, the fund manager of the Union Midcap Fund will invest predominantly in stocks of companies that are a part of the mid-cap segment of the market capital, using a combination of bottom-up and top-down approach through active management.

And to select stocks from the universe (current fund house universe of about 156 stocks) of more than a defined threshold, a two-step process will be followed. The first step includes a BMV (Business, Management and Valuation) filtering process to select stocks of companies that have reasonable and sustainable growth.

Image 2: BMV filter (Source: Union Midcap Fund Presentation)

The second step includes stock segmentation process, wherein they are segregated into growth stocks and bargain stocks. It is followed by a focused approach to create a portfolio with an objective to have a high potential return portfolio that will invest in mid-cap stocks and allocate assets accordingly.

[Read: Growth v/s Value Investing: Which Is Better Of The Two In Current Times?]

Image 3: Stock Selection and Segmentation (Source: Union Midcap Fund Presentation)

So, the performance of the Union Midcap Fund relies on the construction of the portfolio. How the fund manager will construct the portfolio, amidst the current pandemic situation, as constructing the portfolio would not be easy and may inflict high-risk.

Although the market correction does provide an opportunity to do some value-buying, valuations seem stretched. The trailing 12-month P/E of the S&P BSE Sensex is hovering around at 23.28x and the S&P BSE 150 MidCap Index, is now at 29.05x.

[Read: Best Midcap Funds to Invest in 2020. Find them here...]

Hence, the fortune of the Union Midcap Fund will be closely linked to how the fund manager plays out the investment strategy in the endeavour to accomplish the stated investment objective.

[Read: Best Mutual Funds for SIP in 2020]

Author: Aditi Murkute

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer: The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

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Large caps have had a dream run in the last couple of years, whereas mid and small caps felt the weight of economic slowdown. But now it seems even large caps will find it difficult to escape the downfall as the coronavirus endemic tightens its grip.

The virus which has been spreading rapidly all over the world has induced fear among the investors on concerns regarding its effect on the global growth. This was one of the major contributors to a 7% decline caused in the frontline index, S&P BSE Sensex, since the beginning of the year.

Since various mutual funds have significant exposure to bluechips, I was curious to assess the impact of falling prices in large caps on these funds. I decided to start with HDFC Top 100 Fund, a popular name in the large cap funds category.

HDFC Top 100 Fund is an over-two-decade-old fund currently managing a corpus of 18,265 crore, one of the highest in the category. Ace fund manager Mr Prashant Jain has been managing the scheme since inception.

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Graph 1: Growth of Rs 10,000 if invested in HDFC Top 100 Fund 5 years ago

My last detailed analysis of HDFC Top 100 Fund back in July 2019 showed the fund's performance nearly in line with the benchmark. Now more than six months later the fund's five year returns slightly trails the benchmark. If you had invested Rs 10,000 in HDFC Top 100 Fund five years back on March 04, 2020 it would now be worth Rs 12,953, growing at a compounded annualised rate of 5.3%. In comparison, a simultaneous investment of Rs 10,000 in its benchmark Nifty 100 - TRI would now be worth Rs 13,627, a CAGR of 6.4%. Though the fund showcased decent performance until a few years back, the fund found it difficult to catch up with the benchmark during the recent corrective phase, causing deterioration in its overall returns.

Table: HDFC Top 100 Fund's performance vis-a-vis category peers Scheme Name Corpus (Cr.) 1 Year (%) 2 Year (%) 3 Year (%) 5 Year (%) Std Dev Sharpe Axis Bluechip Fund 11,077 14.97 15.19 17.45 13.05 10.99 0.3 Mirae Asset Large Cap Fund 17,140 10.4 8.91 15.15 14.39 11.79 0.14 Canara Rob Bluechip Equity Fund 330 11.79 10.48 14.2 11.49 10.88 0.2 Nippon India Large Cap Fund 12,741 7.47 7.44 13.81 12.22 14.07 0.08 Indiabulls Blue Chip Fund 162 8.83 7.88 13.3 12.01 12.29 0.11 Edelweiss Large Cap Fund 179 8.05 9.06 12.95 11.3 11.68 0.15 HDFC Top 100 Fund 18,266 9.03 6.86 12.89 10.15 13.75 0.04 ICICI Pru Bluechip Fund 24,814 7 7.27 12.71 11.39 11.3 0.08 BNP Paribas Large Cap Fund 827 12.66 8.08 12.46 11.59 11.19 0.16 HSBC Large Cap Equity Fund 664 8.38 6.67 12.15 9.96 11.77 0.09 NIFTY 100 - TRI   8.05 8.36 13.03 10.26 11.77 0.1

Returns are on a rolling basis and in %, calculated using Direct Plan - Growth option. Those depicted over 1-Yr are compounded annualised.Data as on March 04, 2020(Source: ACE MF)

*Please note, this table only represents the best performing funds based solely on past returns and is NOT a recommendation. Mutual Fund investments are subject to market risks. Read all scheme related documents carefully. Past performance is not an indicator for future returns. The percentage returns shown are only for indicative purposes.

HDFC Top 100 Fund generated returns nearly in line with the benchmark on 3-year and 5-year rolling return basis. Though the fund trailed the benchmark on the 2-year rolling period, it outperformed the index over the short time horizon of the last 1-year rolling period.

While the fund trails the category toppers with a noticeable margin, it stands ahead of many peers and has delivered above average returns. Some of the top performers in the category include Axis Bluechip Fund, Mirae Asset Large Cap Fund, and Canara Robeco Bluechip Equity Fund.

In terms of risk-return profile, the fund's volatility has been higher than the benchmark and most peers. The fund's risk-adjusted returns as denoted by Sharpe ratio are lower than the benchmark and many prominent funds in the category, though better than the category average.

Investment strategy

Categorised as a large cap fund, HDFC Top 100 Fund is mandated to invest minimum 80% of its assets in equity and equity related instruments of large cap companies. It can invest up to 20% of its assets in other equity instruments as well as debt and money market instruments. The fund aims to maintain a diversified portfolio across key sectors and economic variables.

The fund manager seeks to invest in higher quality, competitive, sustainable businesses by primarily restricting the equity portfolio to large caps; this is intended to reduce risks while maintaining steady growth. He strongly believes in his conviction, even if it results in short term underperformance.

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Over the past 1 year, the fund invested on an average 90% in large caps and around 8% in mid caps. It had no exposure in small caps; the remaining assets were held in cash and equivalents. Notably, the fund has slightly reduced its exposure in mid caps in the last one year, while that of large caps has been increased.

Graph 2: Top portfolio holdings in HDFC Top 100 Fund

HDFC Top 100 holds a fairly-diversified portfolio of around 50 stocks. Index heavyweights like ICICI Bank, HDFC Bank, SBI, Infosys, Reliance Industries, L&T, etc., form a major part of the fund's portfolio with allocation of around 6-9% each. Notably, the top 10 stocks together constitute close to 60% of its assets. Most of the stocks in the funds's portfolio have been held for a year or more now.

ICICI Bank, HDFC Bank, SBI, Reliance Indsutries, etc. contributed the most to the fund's gain in the last year. However, stocks like Aurobindo Pharma, ITC, Coal India, Vedanta, GAIL (India), etc. eroded some of its gains.

Sector wise, the fund has a high exposure of 31.8% to Banking, while sensitive sectors such as Infotech, Petroleum products and Engineering are the next top bets. The fund also has substantial holdings in Power, Finance, Consumption, Pharma, Minerals, and so on.

Suitability of HDFC Top 100 Fund

Though HDFC Top 100 Fund has been under pressure for quite some time now, it has the potential to reward investors over the long term. The fund holds a diversified portfolio of stocks with a disciplined buy and hold strategy and has an able fund manager at the helm. However, its concentrated bets towards few selected sectors could prove risky if any of these sectors come under pressure. This makes it suitable for investors with moderately high-risk appetite and investment horizon of at least 5 years.

Note: This write up is for information purpose and does not constitute any kind of investment advice or a recommendation to Buy / Hold / Sell a fund. Returns mentioned herein are in no way a guarantee or promise of future returns. As an investor, you need to pick the right fund to meet your financial goals. If you are not sure about your risk appetite, do consult your investment consultant/advisor. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.

Author: Divya Grover

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer: The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

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Almost everyone I am talking to nowadays, whether at home, office or while commuting is discussing the Coronavirus and its impact on one's health, the stock markets, and wealth.

The epidemic of Coronavirus or COVID-19 has spread faster than expected, infecting more than 90,000 people in over 75 countries. The virus has claimed thousands of lives so far and there is no cure yet.

In absence of any cure or antidote to this deadly virus, Governments across countries are struggling to protect its citizens.

The confirmation of triple Coronavirus cases registered in India early this week has made almost everyone anxious. And as I write this, the number of confirmed cases in India has risen to over 20, with 15 more Italian tourists testing positive.

Notably, India was safe until last week, even though it is neighbour to China, the epicentre of the fatal virus.

The impact can be clearly seen across the markets worldwide, with major indices correcting sharply in the last couple of weeks.

Investors are anxious about the deteriorating conditions day by day, with many preferring to sell off a significant portion of their equity investments and take refugee under Gold. Whereas many others are wondering if it is a time to sell their investments, or should they instead buy more at such discounted rates.

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Well, markets have history of rewarding investors who keep their patience and make the best of such opportunities.

Remember the golden words of Investment Guru Mr Warren Buffet "Be fearful when others are greedy. Be greedy when others are fearful."

So what should your strategy be to safeguard your investments against the Coronavirus?

Will you prefer selling your stocks and equity funds or would you instead buy more gradually to benefit once markets bounce back?

Given the current circumstances, it's difficult to rightly predict where the markets are headed. However, the markets do have the potential to bounce back sharply once the conditions improve.

But to benefit from such bounce backs, you need to be in the game. You just can't sit on the sidelines and wait for conditions to improve. There have been many instances where the spectators have missed swift bounce back rallies to regret later.

A few questions to ask yourself:

Am I investing in right equity funds? Is my investment portfolio healthy enough? Can my portfolio withstand the market jitters?

If you nod a 'Yes' to these questions, then you need not worry. But if you have any doubts, you need to immediately get a health check-up of your portfolio.

If you are approaching your goal in the next few months or a year, you may surely consider shifting to safer avenues. But if your goal is multi-year ahead, you need not worry. Short term events like these should not have a bearing on your long term investment decision and goals.

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As an investor, you should try and get rid of the bad holdings in your portfolio. Instead focus on well managed high alpha generating funds. Some process-driven funds have the ability to beat the markets under any conditions and can create significant alpha for investors.

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While the scientific researchers look for solution to cure the Coronavirus, having well-picked high alpha generators in your portfolio can be an antidote to your bad investments.

Warm Regards,Vivek ChaurasiaEditor, FundSelect

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This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer: The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

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My sister, who is based in Shenzhen with her family and is a lecturer in a respectable school, flew down from China in January this year and is, now back here in India with her family until the pandemic of novel Coronavirus or COVID-19 (a pneumonia-like virus causing cough, fever and shallow breathing) diminishes. The situation is rather "worrying" she says.

Legendary investor, Warren Buffett, has also used a similar expression, calling the Coronavirus "scary stuff" in an interview to CNBC recently.

Here's how the epidemic of COVID-19 --- which stated started in Wuhan (located in Central China's Hubei province) --- has spread Coronavirus not just across China, but even outside of China, according to the World Health Organisation's (WHO's) latest situation report as of March 1, 2020.

Globally, the confirmed cases of Coronavirus or COVID-19 have risen to 87,137 --- 79,968 in China, and outside of China 7,169 in 58 countries. The death toll in China has gone up to 2,873 and outside of China to 104.

Graph 1: Epidemic curve of confirmed COVID-19 cases reported outside of China,by date of report symptoms and likely exposure location (Source: WHO's Situation Report-41 on Coronavirus disease 2019)

And as per WHO's risk assessment, China is exposed to very high risk, while at the regional and global level too, the risk assessment is revised from high to very high.

In China, the manufacturing hub for the entire world and mainly an export-oriented economy, many factories, offices, are not fully functional, says my brother-in-law who heads production at a reputed manufacturing firm.

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With travel bans imposed by many nations, tourism has taken a hit, trade and retail businesses have suffered. And schools, colleges, and universities, too have been advised to remain shut until further orders.

The situation is getting really quite serious...

The virus has spread in much of Europe - in Germany, in France, the United Kingdom, Spain, Belgium, and many more continents.

I was reading a New York Times Reports that says Coronavirus has stalled Milan and Italy's Economic Engine. In Italy, 1,128 confirmed cases of COVID-19 are reported going by the WHO's latest situation report on the disease. Not just companies and restaurants are choosing to remain shut, but even certain smaller towns south of Milan have been locked down, as per the New York Times Report.

Among the Western Pacific Region, significant confirmed cases are reported by South Korea (3,736 confirmed cases), followed by Japan (239 confirmed cases), Singapore, Australia, Malaysia and a few more.

In the South East Region, Thailand has reported 42 confirmed cases, followed by 3 in India, and 1 each in Sri Lanka and Nepal.

In the Middle East region, Iran, Kuwait, Bahrain, and the United Arab Emirates (UAE), 593, 45, 40, and 19, respectively, confirmed cases of COVID-19 are reported.

And in the region of the Americas, 62 confirmed cases of COVID-19 are reported in the United States (US), followed by 19 in Canada, reveals the WHO data of March 1, 2020.

The ramifications...

As you may know, in this day and age of globalisation, trade is very much interlinked. And China plays a dominant role in global trade.

With the epidemic of Coronavirus spreading across nations, I see widespread supply chain disruptions, resulting in bottlenecks in doing business. This is because several components, raw materials, and finished goods are sourced from China by most economies.

And the longer this disruption lasts; it will have bearing on businesses, their earnings, and overall economic growth.

Currently, perhaps, the only ones who are doing roaring business in this adverse scenario are mask and vaccine manufacturers (pharmaceutical companies).

Table: The impact of Coronavirus on global equity markets Index % Change in YTD (CY 2020)* RTS Index (Russia) -16.1 Sao Paulo Bovespa (Brazil) -9.9 Hang Seng (Hong Kong) -7.3 FTSE 100 (U.K.) -12.8 S&P BSE Sensex (India) -7.2 CAC 40 (France) -11.2 DAX (Germany) -10.3 S&P 500 Index (U.S.) -8.6 Jakarta Composite (Indonesia) -13.4 Nikkei 225 (Japan) -10.6 Shanghai Composite (China) -5.6 *Data as of February 28, 2020(Source: ACE MF, PersonalFN Research)

Over the last couple of months, recognizing the aftereffects of this pandemic on the global trade, global economy, and global growth prospects; the equity markets have caught the flu and are currently panting for a positive breather. Investors' wealth has been eroded in equities, so far on a year-to-date basis.

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But Warren Buffet, while he has called Coronavirus "scary stuff"...offered a piece of advice recently while speaking to the media: "I don't think it should affect what you do in stocks", he said.

How has gold performed?

Gold has fared well over the last couple of months -- posted an absolute return of nearly +8.5% on a year-to-date basis (as of February 28, 2020) in rupee terms.

Graph 2: The gold rush sent prices to a record high

Even in the US dollar term, the price per troy ounce of gold has hit a record high (hovering over the US $1,600 per troy ounce going by the LBMA gold AM fixing data) and posted an absolute return of around 7%.

The reason for this gold rush is that while the US dollar continues to be resilient, smart investors have approached gold as a reserve currency; because there appear no signs of respite soon from this deadly pandemic.

Will gold continue to display sheen going forward?

Well, in all probability it will; the spotlights would continue to be on gold; because this epidemic may not end any time soon.

Jim Rogers speaking to the Business Standard said, there could be bankruptcies as a consequence of this virus. Also, the possibility of the world economy being pulled into a recession cannot be ruled out.

Jim expects gold to be "much higher in a few years" from where it is now.

In my view too apart from the deadly Coronavirus that has pervaded uncertainty, the following are some of the factors likely to prove supportive for gold:

Growth concerns in many parts of the world. The International Monetary Fund (IMF) expects China and the rest of the world to be impacted by this global health emergency. China could put recovery at risk even in the case of rapid containment of the virus observes the IMF. The central bank across the world would adopt an easy monetary stance to support growth. A record-high global debt-to-GDP of nearly US$ 253 trillion (and estimated to increase to exceed US$ 257 trillion by Q12020, mainly driven by non-financial sector debt) according to the Institute of International Finance (IIF). Trade war tensions due to protectionist policies followed. Geopolitical tensions in many parts of the world. The US Presidential elections later this year, in November 2020. Increased stock market volatility. And the potential risk to the inflation trajectory in the course of the Coronavirus epidemic (owing to supply chain disruptions).

Even the World Gold Council (WGC) expects the market risk and economic growth interaction to impact gold prices this year. Mainly, the following factors will keep the focus on gold as per the WGC:

Financial uncertainty and lower interest rates Weakening in global economic growth Gold price volatility

The uncertainty brought about by the novel Coronavirus and its potential impact on public safety and economic growth could be added to the list, says WGC. Recognising the heightened global financial and economic uncertainty, even the central bank across many nations aren't taking chances and are stacking up gold.

Graph 3: Gold has displayed its lustre in the long run

In my view, it makes good sense to buy gold strategically and be a smart investor. The long-term secular uptrend exhibited by gold is something that invites attention and highlights the importance of owning gold in the portfolio with a longer investment horizon.

Gold plays its role as an effective portfolio diversifier, a store of value during economic uncertainty, safe haven, and a shield against inflation in the long run.

Allocate at least 10-15% of your entire investment portfolio to gold and holding it with a long-term investment horizon ...that will be a smart and a sensible strategy. Invest in gold the smart way through gold Exchange Traded Funds (ETFs) or gold savings funds.

I have said this before, but I will say even now: Go ahead and buy gold.

Author: Rounaq Neroy

This article first appeared on PersonalFN here.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer: The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

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With the ongoing panic in the global as well as Indian stock markets, there is no end to foreign investors dumping Indian shares.

This wasn't the case a while back. Foreign institutional investor (FII) were making a beeline for Indian equities few months back.

How has this trend been so far this year? What has changed in recent weeks and months? And what's behind the heavy movement of foreign funds in India?

Let us look at some key points to answer these questions...

September 2019: FII Money Returns to India Again

If we track the trend of FII flows in financial year 2019-20, after the Union Budget in July 2019, foreign investors began selling. They pulled out a ton of money from Indian equities.

Why? Well, they were disappointed with the budget as it did not address the key concerns the economy was facing.

However, the month of September was a different ballgame altogether as foreign money once again made its way into Indian equities. Not surprisingly it was also the month in which the Government made amends for its failed budget.

This is evident in the chart below:

September 2019: Foreign Money Returns to India Again

3rd Quarter 2019-20: FIIs Keep Pouring Money in Indian Equities

There were two reasons behind the above FII rush to Indian equities:

Clarification by the FM that the tax on the super-rich was not applicable on foreign investors Cut in corporate tax rates, among other efforts, that had the potential to make Indian manufacturing globally competitive

Both the above points strengthened the case for investing in Indian for FIIs.

And they kept on pouring money in the following months.

Here's how much money came by FIIs to Indian stock markets in the third quarter of FY20:

Month Net Investment (Rs, m) Oct-19 85,956 Nov-19 129,249 Dec-19 6,941 Total 222,146 Data Source: Equitymaster 2019: Best FII Flows in Six Years

Overall, in calendar year 2019, FIIs pumped in a net of more than Rs 1,000 bn (billion) in Indian stocks. This made it their best such infusion in six years. The previous high was Rs 1,130 bn in 2013.

2020: The Downtrend Starts

The buying trend, however, didn't last long. FIIs rushed out of India amid concerns of slowing economic growth and high stock valuations.

In the month of January, they pulled out Rs 126.8 bn from Indian stock markets.

Feb-Mar 2020: Coronavirus Triggers FII Sell off

The selling intensified further in February and March 2020. The major trigger was the coronavirus led panic sell-off across global financial markets.

In February and March, Nifty and Sensex corrected sharply. It was not just Indian share markets but even global indices like the Dow Jones, NASDAQ, FTSE, DAX, CAC and the Nikkei that witnessed the brunt.

In the Indian context, the stock market correction was exacerbated by the weak foreign investor sentiments. The real surprise was not the FII selling. It was the ferocity and the intensity of the selling in such a short span of time.

From February 14th, the FIIs have been sellers on all days except one.

March FII Outflows to date to Surpass the 2008 Crisis Level

So far in March, FIIs have sold a net of Rs 478.9 bn of Indian shares.

And this makes the outflows of the month set to surpass the 2008 crisis level.

While India is still better placed relative to other emerging market peers, the wipe-out has been massive.

What Should Market Participants Do?

There is no denying that FIIs play an important role in the Indian stock markets.

Strong FII participation is good from the domestic investors' point of view in the sense that it leads to enhanced liquidity and greater depth in the market.

However, in the event of FIIs pulling out on a larger scale and a free fall in the markets, the correction in valuations of fundamentally solid companies would be just temporary. It may in fact offer some lucrative value buying opportunities.

How do you zero in on these opportunities?

Our special report, How to Trade the Coronavirus Crash, has the answer. Just claim your FREE copy here...

This article (How Coronavirus Hit FII Flows - 6 Points) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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Coronavirus fears have spooked the investors worldwide with BSE Sensex and NSE Nifty falling over 25% this month, in line with many other global indices.

After sharp corrections in three trading sessions on March 9, March 12, and March 16 by 5.1%, 8.1% and 7.9% respectively, the Sensex crashed by an overall 22% this month.

Let's dive a bit deeper and look at how the impact has been on individual sectors...

While all sectoral indices are in a sea of red since the outbreak of coronavirus, here's a look at the worst hit sectors since coronavirus outbreak: Sector Since 1 March (%) Since 1 Jan (%) BSE Metal -30% -45% BSE Bankex -31% -37% BSE Oil & Gas -24% -36% BSE Auto -24% -36% BSE Finance -30% -36% BSE Realty -31% -36% BSE Capital Goods -25% -33% BSE Power -22% -32% BSE Basic Material -26% -32% BSE Consumer Discretionary -24% -28% BSE IT -25% -27% BSE FMCG -18% -22% BSE Consumer Durables -24% -20% BSE Healthcare -15% -15% BSE Telecom -18% -14% *Note that prices are as on 19 March 2020 As you can see in the table above, metal sector has been hit the worst on year-to-date (YTD) basis. Note that, the sector has been witnessing selling pressure since last two years. The coronavirus situation has only exacerbated the situation. Another sector that is largely impacted is banking and NBFCs. After being the most preferred in the Indian equity indices for over half a decade, things have changed for stocks in the financial sector. In India it is a double blow for financial sector in the form of YES Bank fallout and prolonged slowdown which increased the chances of credit quality deterioration. To put things into context, foreign institutional investors (FIIs) were heavily positioned in the Indian financial space, and stocks in the sector witnessed maximum inflows during good times. Downward spiral for financial sector began since IL&FS crisis.Both, BSE Bankex and BSE Finance Index have plunged over 30% since the beginning of the month. Shares of most hotel, leisure and airline firms have tumbled over 60% year-to-date, as the coronavirus outbreak across the world has forced people to cancel vacation plans. India also stand to lose foreign tourists due to the entry restrictions that have been put in place. And this has meant things getting worse for hotels and airlines sector. Out of the 90 stocks listed on BSE from tourism, hospitality and film distribution segments, only 15 have given positive returns YTD. Another sector that's facing the brunt is the automobile sector. Coronavirus couldn't have come at a worse time for India's auto sector that is battling a prolonged slump in demand. The virus outbreak has added to the pain, hitting production and lowering the demand even further as consumer spending is unusually low. Reportedly, the correction in the auto index is now close to what was seen during the 2008 global financial crisis. BSE Auto Index is down 36% on a YTD basis. The fall in other indices like FMCG, consumer durables, capital goods and IT is relatively moderate as they do not have any direct impact of the pandemic. However, they too have been witnessing selling amid the sharp correction in Indian share markets. Interestingly, Indian pharma has been doing much better than the overall index. Since the beginning of March 2020, the Sensex is down by 26% while the BSE Healthcare index is down only by 15% (till 19 March 2020). One factor is the rupee weakness which has weakened well beyond the Rs 75/$ mark. A weak rupee helps exporters and pharma obviously benefits. Another factor is the spread of the novel coronavirus has led global investors to rush for pharmaceutical stocks recently, on back of a rise in demand for generics and branded generics leading to shortages and over-pricing for drugs. However, as the markets took a breather on Friday, the sectors that rallied the most were BSE FMCG, BSE IT and BSE Oil & Gas indices, gaining over 8% each.

What do you think will be the long-term impact for these sectors? Well, you can let us know by dropping your views in the comments section below.

While most sectors have been falling, our co-head of research, Tanushree Banerjee believes in long term, Indian auto ancillaries, textiles, chemical companies, Pharma R&D contract manufacturers, will all be the major beneficiaries of what she calls the Rebirth of India megatrend.

Also, in times like these, our special report, How to Trade the Coronavirus Crash, will help you get a grip on the current market situation...and figure out ways to profit from it.

This is the most comprehensive report on how to trade the coronavirus, both from a short-term and long-term perspective. I strongly recommend you read it now. Claim your FREE copy here...

Happy Investing!

This article (Worst Hit Indian Sectors Amid Coronavirus Pandemic: 10 Points to Know) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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With stock prices gyrating every day to coronavirus related developments, the weekend must come as a relief.

Here's a look at how deep the impact has been felt in the global financial markets:

Stock markets worldwide saw sharp losses on Thursday, with the benchmark indices on Wall Street and London saw their steepest daily falls since the Black Monday in 1987. In the US, stocks witnessed a sharp sell-off on Thursday. Thursday's dive follows the intense fall on Wall Street seen throughout the week. The S&P 500 triggered the first circuit breaker of the week on Monday after falling 7%. This fall came after the crash in crude oil prices. The markets bounced back Tuesday, only to retreat on Wednesday after the World Health Organization (WHO) declared the coronavirus a pandemic. At the closing bell, the Dow Jones Industrial Average finished down around 2,350 points (down 10%). The S&P 500 plunged 9.5%, while the Nasdaq Composite Index tumbled 9.4%. Stocks were deep in the red the entire session, which was paused for 15 minutes early in the day. Automatic suspension was triggered after the S&P 500's losses hit 7%. On Thursday, equities erased their losses briefly after the US Federal Reserve announced measures to inject an additional US$ 1.5 trillion in cash into financial markets. The announcement, which came after European markets had closed, sent shares higher, but they dropped back by the end of the day. Coming to the European markets now, the main UK index dropped more than 10% yesterday in its worst day crash since 1987. Losses on the UK's FTSE 100 wiped some 160.4 billion pounds in wealth from the market. Frankfurt had its worst day since 1989, the year the Berlin Wall fell, while Paris suffered its biggest one-day loss on record. However, European stock markets rallied this morning. The signs of a US stimulus package helped soothe fears about an economic shock. At the time of writing, European indices were trading mixed. Shares in London were up 4.1%, while the Paris CAC gained 3.5%. However, the Frankfurt DAX crashed 9.3%. Stocks in Asia also saw consistent sharp falls throughout the week. Japan's benchmark Nikkei 225 index closed 6.1% lower today. Shanghai was down around 1% as the number of new cases in China shrunk and people slowly returned to work in the worst-hit areas. In Asia, circuit breakers were also triggered in many exchanges including India, Japan, South Korea, Indonesia, Thailand, and the Philippines this week. Indian share markets saw their biggest ever single day fall this week. The indices today hit their lower circuit limits within 15 minutes of the opening session. This was seen the first time in 12 years that trading in Indian markets had to be halted. The carnage didn't continue, however, as Indian indices recovered after major free-fall as trading resumed after 45-minute halt.From there on, it was an upward rally as markets went on to witness buying interest and saw their biggest intraday recovery ever. On a year-to-date (YTD) basis, the worst fall has been witnessed by European markets. Here's a view on how the world markets have performed since January 2020. US Markets European Markets Asian Markets The Dow Nasdaq S&P 500 London Paris Germany Hang Seng Nikkei 225 Shanghai Sensex -27% -21% -24% -31% -33% -32% -16% -25% -6% -17%

This worldwide crash has put March 2020 into the history books. Now, how markets perform in the coming days will be something to watch out.

This article (Worst Week for Global Stock Markets: Coronavirus Impact in 10 Points) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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Crude oil prices crashed more than 30% on Monday.

In fact, this was the worst price dip since the 1991 Gulf War as Brent prices plunged to US$ 31 per barrel.

Here are 10 key things you need to know about the economics of falling crude oil prices:

Oil prices have collapsed thrice because of demand destruction: in 1979, 2008, and 2014.

1979: The trigger for oil price increase was the Iranian Revolution and the Iran-Iraq war. Due to this, oil prices rose from US$ 50/barrel to above US$ 100/barrel between January 1979 and April 1981. Then, new production from the North Sea, Mexico, Alaska, and Siberia flooded the market. By March 1986, prices had fallen to US$ 27/barrel.

2008: Oil touched US$ 150/barrel and was quickly followed by the financial crisis and recession which led to crash in crude oil prices as well.

2011-2014: Oil was above of US$ 100/barrel, several years of triple-digit oil prices led to a near doubling of shale production in the US, a volume that helped trigger the crash in 2014.

2016: Saudi Arabia and Russia came together to form the so-called OPEC+ alliance after oil prices plunged to US$ 30 a barrel. Since then, the two leading exporters have orchestrated supply cuts of 2.1 million barrels per day. 2019: Prices went on to witness huge volatility in 2019 amid declines in US inventories and rising geopolitical tensions in the Middle East and the world's two biggest oil consumers - United States and China. July 2019: The OPEC and allies sat to discuss whether to extend a deal on cutting 1.2 million barrels per day of oil production. Owing to the above geopolitical tensions, weaker demand outlook, and oversupplied market, the OPEC and allies rolled over their production cuts into March 2020. Volatility intensified further in July after US oil producers in the Gulf of Mexico cut more than half their output in the face of a tropical storm and as tensions continued in the Middle East. March 2020: Saudi Arabia wants to increase the cuts to 3.6 million barrels per day through 2020 to check the weaker consumption. However, Russian President Vladimir Putin, refused to go along with the plan and his energy minister, Alexander Novak signaled a fierce battle to come for market share when he said countries could produce as much as they please from April 1. 9th March 2020: Crude oil prices fell 31% on Monday after Saudi Arabia launched an oil price war with Russia. Saudi Arabia slashed prices and said it is preparing for a big increase in crude oil production in April. Prices were cut by US$ 4-6 a barrel to Asia and US$ 7 to the United States for April delivery. Saudi Arabia reportedly prepares to increase its crude production above 10 million barrels per day (bpd) in April, after the current deal to curb production expires at the end of March. A major reason for these production cuts is also to arrest the swooning oil prices owing to the novel Coronavirus outbreak. Worse than the Previous Crashes: The current situation is more worse than the November 2014 crash, when such a price war was started, as it comes to a head with the significant collapse in oil demand due to the Coronavirus outbreak. It also reflects the deep underlying concern of a lack of consensus among the OPEC nations regarding production cuts. Impact on Indian Economy: The drop in crude oil price bodes well for India as it imports more than 80% of its oil requirements, with nearly 60% of them imported from the Middle East. Since oil imports form a large chunk of India's imports, it contributes to the country's trade deficit and a fall in prices will trim this deficit. Savings on oil imports could also arrest rising inflation and facilitate the next round of rate cuts by the Reserve Bank of India (RBI). Industries to Benefit: On an industrial level, the price cut will have a beneficial impact on companies from synthetic fibre producers, tyre, paints, lubricants, plastic, and FMCG sectors that depend on crude oil as their primary raw material. On the consumer level, there could be a fall in retail prices of gasoline and diesel over the next few weeks as oil companies cut retail prices to pass on the decline in crude oil prices.

Going ahead, market participants are expecting crude oil prices to remain low until OPEC+ resets oil production again.

Vijay Bhambwani, editor of Weekly Cash Alerts at Equitymaster, states that at this point in time, short selling natural gas & crude oil at significantly higher levels for the coming summer are high conviction trades. To know more about his view and positions, you can check out his recent article here: Energy Markets Get Muddy (requires subscription).

He's also shared his views on the ongoing "coronavirus" situation where he talks what's around the corner for crude oil, and how one should position oneself for potential gains. You can check this special podcast episode from Investor Hour here:

Well, then...these are some major highlights crude oil markets witnessed in the past and present and how they have been impacting crude oil prices.

This article (All About the 30% Crash in Crude Oil - 10 Points) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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In under 3 years, Yes Bank has gone from being a darling of investors to a pariah. Here's a look at the events that led to the crisis in 10 points.

2017: RBI forces Yes Bank to disclose that there is big divergence in its non-performing loans of Rs 42 billion reported in the company's audited accounts for the year ended March 2016. The divergence further widened to almost Rs 64 billion a year later. To put this in perspective, the RBI audit had pegged its total gross non-performing assets (NPAs) at 5% for FY16, against the bank's own assessment of only 0.8% for the same year. September 19, 2018: Not surprisingly, a year later, RBI refuses to give Yes Bank CEO Rana Kapoor an extension to his term as MD. The apex bank asks Kapoor to step down by end of January 2019. Kapoor fights back...but it always seemed like a battle he was set to lose. November 27, 2018: Rating agency Moody's cuts bank's rating outlook to 'negative' from 'stable' citing concerns over corporate governance. This is a big whammy...for a bank, its credit rating is everything. January 24, 2019: Yes Bank hires the head of Deutsche Bank India, Ravneet Gill, as its new CEO. There's hope...even though Gill has not run a bank of this size before. The stock price rallies 66% in the days following the appointment. May 14, 2019: RBI appoints former central bank Deputy Governor R. Gandhi as additional director to Yes Bank's board - a rare move signaling an increased level of scrutiny on the lender.Yes Bank reports 91% drop in profit in 1QFY20, provisions surge and gross NPA ratio stands at 5%. October 3, 2019: CEO Gill says bank is in talks with private equity firms, strategic investors and family offices to raise additional capital. Again, this appears to be good news. October 31, 2019: Yes Bank gets binding investment offer of US$ 1.2 billion from a global investor. But this does not go down well as credibility of the likely largest investor is questioned in the media. November 1, 2019: Yes Bank reports bigger-than-expected loss for 2QFY20, NPA to loans ratio swells to 7.4% and provisions swell to Rs 13.4 billion. March 6, 2020: It's been months now and there is little progress on capital raising (other than rumours floating around). RBI takes over Yes Bank's board and imposes a month-long moratorium, imposing a limit of Rs 50,000 on withdrawals. March 7, 2020: Stock price of Yes Bank crashes by nearly 60%. At it's worse the stock was down at Rs 5.7 that day. RBI shares a restructuring plan for Yes Bank...basically a bailout by SBI.

Well, then...that's the Yes Bank timeline. At the time of writing, stock price of Yes Bank was trading up by 31%.

Next time, when you think of buying a banking share...or making a deposit...be sure you understand the risk.

This article (How the YES Bank Collapse Unfolded - 10 Points) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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Indian stock markets collapsed in early trade today...and while there was some recovery towards the end, we still ended deep in the red.

Here are 10 points to note...

The Sensex nosedived as much as 1,460 points in the first few minutes of trade. The Nifty dropped to a low of 10,827, down 442 points intra-day. The markets however trimmed some of the losses during the course of the day.

There was a selloff across sectors along with panic selling in the smaller indices too. The BSE Midcap and BSE Smallcap indices ended down 3.4% and 2.9% respectively.

The Reserve Bank of India's (RBI) decision to put Yes Bank under moratorium led to the biggest ever fall in share price of the private lender. Shares of Yes Bank fell as much as 85% to Rs 5.6 before recovering towards the end of the day to end at Rs 16.2, down 56%.

The banking regulator has also put a cap on withdrawal at Rs 50,000 for Yes Bank customers.

The RBI took over from the board of the Yes Bank for 30 days, saying it would work on a revival plan.

RBI's move had a ripple effect on other banking stocks, with some falling very sharply to begin with.

Shares of RBL Bank fell as much as 15%, while IndusInd Bank and State Bank of India (SBI) dropped 7-8%.

The coronavirus cases outside of China have been increasing rapidly, making inroads into US, Europe and Middle East, which made investors more worried about global growth going ahead. And more recently, India too.

Today, the number of cases breached the 100,000 mark.

South Korea, Italy and Iran reported highest infected cases outside of China, while cases are increasing in United States and other parts of Europe as well.

Note that market participants are seen taking a flight to safety as stock markets see a sharp fall post the coronavirus impact.

Overnight the US indices had recorded sharp losses. This was yet another negative cue awaiting Indian markets on open today.

The Dow Jones Industrial Average fell 3.6%, while the S&P 500 lost 3.4%. The Nasdaq Composite dropped 3.1%.

During the day, as the Asian markets opened, there was further negative news... Japan's Nikkei fell more than 3%, while Hong Kong's Hang Seng, Australia's ASX 200 and South Korea's Kospi dropped over 2%.

Foreign investors (FIIs) are on a selling spree. Reportedly, in the last 14 sessions, FIIs have withdrawn a net Rs 183.4 billion from Indian markets. That's a lot of money...a lot more than the domestic mutual funds have been able to pump in. The intense selling pressure from the FIIs could only have contributed to this sell off.

The Indian rupee today slid past 74 levels against the US dollar, increasing the risk-off sentiment.

The rupee today traded in a range of 73.69 to 74.08 against the US dollar as compared to the previous close of 73.31. A falling currency is not great news at all.

Even as there was negative news all around, hope emerged from oil. Oil slid on Friday as worries about demand for fuel being reduced by the global coronavirus outbreak were heightened. The fact that there was concern over non-OPEC (Organization of the Petroleum Exporting Countries) crude producers not yet having agreed to cut output further to support prices helped in the sell off. With today's fall the Index has lost 9% since the start of 2020. While the day ended deep in the red, some stocks stood out. Bajaj Auto, Maruti Suzuki and Asian Paints were among the few gainers. This article (Today's Stock Market Crash: 10 Points) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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A former defense and trade minister, Nirmala Sitharaman became the first woman finance minister of India after Indira Gandhi.

She has inherited an economy facing a number of risks.

She faces immense challenges as finance minister. India's economy is starting to splutter on the back of a slow-down in consumption and private investment.

Fixing this and jump-starting the economy are the first order of business.

The data released on Friday was disappointing at different levels.

Lower growth in GDP, stagnant growth in core sector in April 2019, and the government just about managing the 3.4% deficit number in FY19 pose puzzles for the new Cabinet which assumes responsibility of kick-starting the economy.

A look at key macroeconomic indicators presents a gloomy picture.

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According to the data released by the Central Statistics Office on Friday, gross domestic product (GDP) grew by only 5.8% in the last quarter of financial year 2019 (FY19), between January and March.

GDP Growth Slips to 5-Year Low

The data demonstrates GDP growth slowing steadily, from 8 to 7 to 6.6% in the first three quarters of FY19.

The signs of slowdown are visible throughout the economy.

Growth of Core Sector Industries Remained Flat

India's core economy grew at 4.3% in FY19, its second slowest pace in the past 5 years, down from 4.9% in FY15, according to latest data by the ministry of commerce and industry.

The 8 core industries include Coal, Crude Oil, Natural Gas, Refinery, Fertilisers, Steel, Cement, and Electricity.

8 Core Sectors Report Flat Growth in FY19

The growth rate is also flat since fiscal FY18 which had also recorded a 4.3% growth.

Manufacturing and Services Sector Activity Decelerates

Core sector growth will have a direct impact on the Index of Industrial Production (IIP) as these sectors account for a major chunk of total factory output.

Worries Rise as Factory Output Shrinks in March

The Index of Industrial Production (IIP) and the Manufacturing Purchasing Managers' Index (PMI) are used to gauge the level of activity in the manufacturing sector.

What Does the PMI Say?

The country's manufacturing sector performance fell to an eight-month low in April as new business growth moderated, curbed by the elections and a challenging economic environment.

The Nikkei India Manufacturing Purchasing Managers' Index declined from 52.6 in March to 51.8 in April, reflecting weakest improvement in business conditions since August 2018.

However, this was the 21st consecutive month that the manufacturing PMI remained above the 50-point mark.

In PMI parlance, a number above 50 means expansion, while a score below that denotes contraction.

The April PMI data indicated a softer increase in new orders had restricted growth of output, employment, and business sentiment.

Further, the Indian service sector lost momentum in April, with rates of new business and output growth both cooling to seven-month lows.

Indian Service Sector Loses Momentum Too

Falling from 52.0 in March to 51.0 at the start of FY19, the seasonally adjusted Nikkei India Services Business Activity Index pointed to the weakest upturn in output since last September.

Besides these, there are many other indicators of a slowdown.

A decline in consumer demand, a slowdown in government spending, and weak private investment have likely impacted India's growth in the fourth quarter.

One such high frequency indicator is automobile sales.

What do these numbers indicate?

Vehicle sales are a very important economic indicator about how the people of India feel about their economic prospects.

After all, no one is forcing anyone to buy a car and given that if a consumer buys a car, he chooses to make a down payment and/or take on an EMI.

This is only possible if the consumer is feeling positive about his future economic prospects.

Automobile Sales Skid as Demand Remains Sluggish

On Saturday, India's largest carmaker, Maruti Suzuki, reported a 22% decline in sales in May, the lowest in seven years.

Other auto-makers such as Tata Motors, Eicher Motors, and Hero Moto Corp reported declines in sales too.

All these economic indicators basically provide evidence of the Indian economy slowing down further since January 2019.

Another major area that needs immediate attention by the government, is job creation.

According to a CMIE survey, the unemployment number stands at 41 million people. That is too big a number to be ignored.

Now, job creation at such a mass level won't be a walk in the park. To set the wheels in motion, the government will have to look at infrastructure spending.

Capacity expansion in new projects has seen a gradual slowdown in the past few years.

Infra Capacity Expansion Likely to Be the Key Focus of the Modi Government Infra Capacity Expansion Likely to Be the Key Focus of the Modi Government

From Rs 3.3 trillion in June 2018, the number has come down sharply to Rs 2.1 trillion as of March 2019.

Co-head of research, Tanushree Banerjee believes this is first area the government will look to focus on.

Apart from creating jobs in the infrastructure sector, it opens a lot of other avenues.

Here's an excerpt of what she wrote in The 5Minute WrapUp:

Better infrastructure will mean better connectivity to non-metros. This will attract manufacturing companies to set shop in these towns. It will give a boost to the urbanisation of the population.This is a trend I see clearly playing out in the coming years.Infrastructure spending -> Improved roads -> Increased two-wheeler sales.It is just one of the 50 irreversible trends I believe will carry the Sensex to 1,00,000.

Typically, when the capacity utilisation rises, it prompts companies to expand their capacities. If this gradual pick-up sustains, it could lead to a pick-up in private sector investment.

Thus, a revival in the investment cycle could be underway despite the current economic slowdown.

And, as far as equity markets are concerned, participants were expecting a weak fourth quarter growth data.

As such, the now published data may not weigh on the market but will raise expectations from the government and the RBI.

The pressure points in the form of finance, tax rates, infra expenditure, specific sector-related policies etc, must be addressed.

While the weak GDP data will be an important input for the Union Budget.

Most investors are now keen to know what's in store in the first week of July.

Warm regards,Rini Mehta

This article (FM Nirmala Sitharaman Inherits an Economy Facing a Number of Headwinds) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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Irrational exuberance is when the price of a stock irrationally exceeds its intrinsic value.

Every phase of euphoria in stock market has its own circumstances. It must also be seen in the context of the times.

Yet the cause of any euphoria is timeless. It's human behavior taken to excess.

It is is people's emotionally driven buying and selling decisions, along with their fear of missing out.

We are seeing this in India since the past few weeks.

Investor sentiment turned positive last week. the one slogan that took over the market and country last week was, Modi Sarkar, phir ek baar.

We could see the signs of optimism in the movements of benchmark indices, rupee, and FII inflows.

However, co-head of Research, Rahul Shah has recommended exercising caution. Here's what he wrote in one of his articles:

You can very well do what everyone else is doing and celebrate a Modi win by increasing exposure to stocks.However, no one beats the markets over the long term by doing what the majority is doing.Long term outperformance comes by following sound investment principles that are related to intrinsic value of the stocks and not to their market price action. And it also comes from having a method of operation that is different from the majority of investors.Both of these rules are pointing towards exercising caution right now.

He is right. These charts will prove his point.

First Signs of Euphoria Are Visible in Our Benchmark Indices

Last week, the stock markets celebrated Modi's victory. The Sensex touched 40,000 and Nifty touched 12,000 mark for the first time ever.

The mood remained buoyant across the market as PM Narendra Modi returned to power.

Sensex and Nifty Soar High on Modi's Victory

Investors were overjoyed as the market cap of the Sensex surged substantially in the last 3 months.

Rise in Market Cap of Sensex Companies in the Last 3 Months

This exuberance warrants some caution.

The rally in benchmark indices caused the price to earnings ratio (PE ratio) to rise. The PE ratio implies the amount an investor is willing to pay to earn one rupee as profit.

For example, if the PE ratio of a stock is 25, it means investors are willing to pay Rs 25 for every Re 1 profit the company earns.

Notably, the PE ratio of the Sensex stood at 28.4 on 23 May. And PE ratio of the Nifty stood at 29.

The Sensex and Nifty are trading at uncomfortably high price to earnings ratios.

Historically, high PE levels above 28 have led to correction in markets. A high PE ratio occurs when an index rises at a faster pace than earnings.

PE Multiples of Sensex and Nifty Enter Danger Zone

Beyond the Sensex level of 40,000, valuations will be hard to justify without earnings catching up.

Let's understand this with the help of some past similar scenarios.

Nifty had hit a PE of 28.7 in August last year.

On 27 August 2018, PE ratio of Nifty stood at 28.7. The PE ratio declined 15% to 24.1 till 26 October in the same year.

On 27 August last year, the index's value stood at 11,691. During the next three months, the index lost 1,661 points and declined to 10,030 on 26 October.

What Happened in the Past When PE Ratios Crossed 28?

Similarly, on 4 January 2008, the Nifty PE rose above the 28-mark after which the index crashed 56% in nearly 11 months.

On 4 January 2008, the index stood at 6,274. It fell over 56% to 2,752 on 27 November 2008.

So, what does this mean?

The market rally could fizzle out soon and investors would be seen running for cover to minimise losses.

Other Factors Contributing to the Optimism

Now, let's look at the Indian rupee. It has also risen due to the Modi wave.

The rupee gained 1% after Modi swept to a comfortable victory as predicted by nearly all exit polls.

Will the Rupee Go Back to Square One After the Election Rally?

The rupee is likely to under-perform amid wider-than-expected trade deficit, cautious outlook toward emerging markets, and risks of rising oil prices. Oil is India's top import item and a major driver of inflation and trade deficit.

The jump in the value of rupee against the dollar can be also attributed to the fact that foreign direct investors invested Rs 20.3 billion on Friday alone and Rs 58.9 billion in the last week.

Foreign institutional investors (FIIs) also cheered Modi's landslide victory.

Most of the buying from them was seen in May especially after the exit polls and the election results. Before that, they were cautious and had turned net sellers.

Will FIIs Continue Pouring Money in Indian Stocks?

So, was all of this just about Modi Magic?

These inflows would continue after election only if growth and earnings come back on track.

Besides global factors, domestic issues on economic front may cloud investor sentiment.

With the election outcome settled, markets want to know how the government will tackle slowing economic growth.

This could be true from a near term perspective.

Over the long term though, we believe the India growth story remains intact. Indeed, very few nations offer such compelling opportunities as India.

What eventually works for long-term investors is investing in fundamentally strong companies when they are available at attractive valuations.

To that extent, a correction will be a good thing as it would result in a lower entry point for stock investments.

So, enjoy the market's advance while it lasts!

But don't expect the bull run to keep up at its current pace indefinitely.

Continue to maintain an appropriately balanced asset allocation profile across multiple asset classes.

Until next time...

Warm regards,Rini Mehta

This article (Why Are Some People Talking About a Market Correction After Modi's Election Win?) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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There is a lot of negativity surrounding banks & financial institutions (FIs) these days.

Banks are struggling under the burden of bad loans and stringent provisioning norms. It took the wind out of their earnings sail.

They have been battling one challenge after another ever since the 2008 global financial meltdown.

Falling asset quality, digitisation, disruption from new competitors and demonetisation have all taken their toll.

It wouldn't be wrong to compare them to performers juggling balls in a circus. You are bound to drop some eventually. You may end up focusing too much on the juggling and lose sight of things around you.

Despite juggling to the best of their ability, most of the country's banks are not in the pink of health.

Credit offtake has been poor due to over-leverage in the corporate sector, excess capacity, and the economic slowdown. Also, higher provisioning for bad assets has affected profitability.

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We do not think so.

All these challenges have no doubt tested banks.

But it also brought out the best in them. The cyclical and structural factors still present opportunities for growth and re-rating over the long-term.

The only thing you need to do is find stocks with the best asset quality.

Corporate banks have underperformed retail-focused banks in the last five years. The chart below shows the annualised returns of the last five years.

Corporate Banks Underperform Retail-focused Banks

Retail-focused banks such as HDFC Bank and Kotak Mahindra bank have outperformed.

One of the important reasons for this outperformance is stable asset quality. They could maintain gross NPAs below 1% in the previous five years.

Now, have a look at the table below.

It shows the trend of Net NPA ratio of all the BSE Bankex stocks over the years. The overall picture shows the asset quality has improved.

Net NPAs to Net Advances (in %)

Banks have been facing the unpleasant prospect of seeing a fifth of their corporate exposure turning into bad loans, putting a question mark on the entire sector's profitability.

Even though there are signs of improvement, the NPAs still remain high.

Corporate focused banks such as ICICI Bank, Axis Bank, and SBI are facing serious asset quality issues.

Not to mention, some of these banks had management issues as well. No wonder they not only underperformed retail-focused banks, but also the BSE Bank index as well.

Further, recent tensions in the sector have added to their worries.

On one hand, banks are trying to recover dues using the Insolvency and Bankruptcy Code. On the other, new accounts such as Infrastructure Leasing & Financial Services, Anil Ambani Group entities, Jet Airways, Essel Group, and DHFL are casting a shadow over their future earnings.

Some of these are already in default while others are stressed.

There seems to be no end in sight to mounting bad loan worries for Indian banks.

Owing to these troubles, the housing finance regulator, National Housing Bank, has restrained some entities from lending.

So, the quantum of funds as well as the cost of loans have both shot up.

Smaller public sector banks are struggling to keep themselves afloat.

The few good quality private sector banks are only lending to retail clients, most cautiously.

Banks are Lending Only to the Aam Aadmi

Amid this, it is difficult to expect Indian companies to increase their capacities. Thus, their earnings may not grow at a fast clip.

But co-head of research, Tanushree Banerjee believes there's a silver lining to this cloud.

She noted two important trends in this regard...

The stricter credit norms are making corporates less dependent on bank lending for their capex. The new NPA recognition norms and insolvency process could put an end to willful defaults.

Here's an excerpt of what she wrote in the latest edition of The 5 Minute WrapUp:

"The cleanup of India's financial sector may be long drawn.But it will, once and for all, rid the economy of a big growth hurdle.It won't matter if oil prices keep spooking India's consumer inflation.It won't matter if domestic interest rates remain steep.Indian companies will be in a position to manage their cash flows and debt obligations across cycles.The leaner, well capitalised financial entities will benefit the most."

Warm regards,Rini Mehta

This article (How Do India's Banks Score on Asset Quality?) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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Non-performing Assets (NPAs) is the smoking gun of the threat to the very stability of India's banks.

India badly needed a magic pill that would revitalise the system, curing the bad loan problem.

The Reserve Bank of India (RBI) had pointed out the lack of modern bankruptcy legislation in India which was affecting the recovery of loans since quite a long time.

When it comes to resolving insolvency, India's rank is low at 103. This is much below our neighbouring countries.

On both factors - the recovery rate and the time to resolve a bankruptcy - India is slower than its poorer neighbors.

India Slowest in Resolving Bankruptcy

There was a need to revamp bankruptcy laws. Which brings me too...

12 February 2018 RBI Circular

In a bid to stem the lurking rot, the Supreme Court quashed the 12 February 2018 RBI circular on non-performing assets.

Now what was this buzz all about and what does it mean?

In a circular on 12 February 2018, the RBI mandated banks to classify loans of Rs 20 billion and above as 'stressed' if their repayment remained overdue even for a single day.

Thereafter, a window of 180 days would open during which the lenders and the borrower had to agree upon a plan to resolve the default.

If the non-payment problem persisted beyond 180 days, the lenders would get a free hand to take over the firm, sell it or liquidate it under the IBC. Read more about the Insolvency and Bankruptcy Code.

The Timeline of the Issue 4 May 2017 - The government of India issued an order to amend the Banking Regulation Act that conferred powers on RBI to issue directions to banks. It included directing banks to refer NPAs to the insolvency and bankruptcy courts. June 2017 - The RBI issued a list of the 12 largest loan accounts in default. The banks were required to start proceedings under the IBC. 12 February 2018 - The RBI came out with a new resolution framework, to be used by banks before triggering the IBC.

Banks had no choice but to trigger IBC if the loans were not restructured within a deadline.

Finally, the previous mechanisms the RBI had created pre-IBC were all withdrawn.

These mechanisms - Joint Lender's Forum (JLF), Corporate Debt Restructuring (CDR), Scheme for Sustainable Structuring of Stressed Asset (S4A), and Strategic Debt Restructuring (SDR) had all been criticised for being too easy on borrowers.

The schemes allowed for ever-greening of loans, where the banks would pour more money in a company which had already defaulted and were generally considered to be poorly designed.

Now, as per the 12 February circular, the RBI disclosed the top 12 loan defaulters accounting for around 25% of the total bad loans.

As the chart shows, the biggest defaulter was Bhushan Steel with bad loans of Rs 559 billion.

Top 5 Defaulters

The Insolvency and Banking Code was expected to tackle the growing bad loans problem.

Now here's a thing to note...

In case of Tata Steel buying out Bhushan Steel, banks recovered 63% of their outstanding loans, which was very good.

But in case of Alok Industries, the banks could recover only around 16% of the outstanding loans .

Typically, banks managed to recover around 10% of the bad loans in the past. Of course, the Insolvency and Bankruptcy Code led to a recovery rate better than 10%, but it didn't change the state of public sector banks much.

Then on 2 April 2019 the Supreme Court set aside the RBI's 12 February 2018 circular. This restored previous all the previous debt recast options for the defaulting companies. It gave a free hand to banks to explore steps to rescue such companies outside the court.

This came on the back of power, shipping and sugar companies challenging the RBI's February 12 circular which had identified about 30 companies which were stressed. Many of them were power companies.

The effect of the RBI circular fell disproportionately on the power sector. The power sector has some genuine reasons for the high levels of defaulted loans.

Some of the blame for the failure to repay loans was due to government inactions, like the electricity regulatory commissions not updating the price of electricity, change in government policy on coal supply, failure to execute power purchase agreements, and the non-payment of dues by state electricity distribution companies.

Owing to the supreme court's verdict, shares of power companies hogged limelight throughout the day.

The Impact

1. IBC Versus Other Mechanisms:

A recent report by the Reserve Bank of India on the trends and progress of banking in India FY18, showed an interesting comparison on the efficacy of the IBC in improving the recovery rate and in providing the lenders with a better realisation in comparison to the erstwhile regime of recovery.

Recovery by Banks as % of Amount Filed

Also, reasearch analyst, Sarvajeet Bodas had pointed back then, things were about to change for the better. Here's what he wrote:

"This is a game changer for India's banking sector. The IBC gave banks the power they needed.Earlier, banks had to run after promoters to recover their money. Now promoters are running after banks and looking for solutions.As per the RBI's financial stability report, more than 4,300 applications were filed in the National Company Law Tribunal (NCLT).With this, banks have sent out a clear message - pay up...or be ready for bankruptcy proceedings."

But now after supreme court's order, banks plan for higher recovery through NCLT cases initiated becomes null and void.

2. Will the Provisioning Remain High or Will It Fall?

Now look at the chart below.

It shows gross NPAs to gross advances of the leading banks in India over the years. There has been a clear rise in NPAs and provisions in all the banks.

With the introduction of IBC, a loan worth over Rs 2.8 trillion, with payments outstanding for 60-90 days, carried the risk of slipping into the category of NPA. This resulted in a surge in NPAs and put additional pressure on the banks to make provisions.

The new framework specifies banks report defaults on a weekly basis in the case of borrowers with more than Rs 50 million in bank debt.

The strict timelines meant that a larger number of accounts would go into insolvency.

Provisions Increased Post IBC Code

The question now is will these banks maintain such high provisions for debt after the Supreme Court ruling?

If not, how will it impact NPAs again?

3. Signs of Credit Growth

The previous attempts to address the issue of bad loans had all failed.

As per an article in The Economic Times, after the code became operational, about 3,300 cases were disposed of by the adjudicating authority based on out-of-court settlements between debtors and creditors involving claims amounting to over Rs 1.2 trillion.

As a result, the credit growth that banks in India posted in December quarter of 2018, at 15.1% YoY, was not just very healthy. It was nearly 2 times GDP growth. But it was also back to the five-year high.

Will Credit Growth Remain High Going Forward?

Ultimately, the total flow of resources to the commercial sector in India, both bank and non-bank, and domestic and foreign (relatable to the non-food sector), have gone up.

These figures tell us the IBC was successful.

As per the reports, total debt estimated to have been impacted due to the RBI circular was Rs 3.8 trillion across 70 large borrowers. These companies will now get the earlier options for restructuring.

What Happens Now?

The IBC code had its own pros and cons. The economy, especially a few sectors, benefited up to a certain extent.

But this came at the cost of power, sugar and other sectors which suffered the most due this circular.

Now you can't deny the fact that, for the IBC to truly succeed, it was important the government let the central bank do its job independently and thwart systemic risks due to the bad loans.

What we truly need is a fair set of rules to set the banking house in order. Now, what the government and RBI does further to correct this remains to be seen.

Warm Regards,

Rini Mehta

This article (Insolvency and Bankruptcy Code Takes a Hit: Boon or Bane?) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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Data on car sales, manufacturing and employment data will likely paint a bleak picture of how much the shutdown has already hit the economy.

Major stock indexes have made back more than half their losses this week, but analysts say the bottom may not be in.

Check out the companies making headlines after the bell.

Micron gets a lift from strong earnings while Beyond Meat slides on a Goldman downgrade.

The first crushing wave of 3.28 million workers seeking unemployment benefits is expected to be followed by millions more in coming weeks.

Check out the companies making headlines after the bell.

BlackRock's Rick Rieder says bond market volatility appears to have peaked and he doesn't think the S&P 500 will fall below 2,300.

About 1 million to 4 million people are expected to have filed for unemployment last week, the largest number ever. The data is released Thursday.

Check out the companies making headlines in midday trading.

Check out the companies making headlines after the bell.

If the stock market finds a near-term bottom, it's likely to be built on a trap door that could give way to another big decline.

These are the stocks posting the largest moves in midday trading.

Gasoline prices in the wholesale and futures markets crashed on Monday, a harbinger of much lower prices for consumers at the pump.

Check out the companies making headlines after the bell.

Market professionals see some thawing in credit markets, but investors still have a wait-and-see attitude about the coronavirus and economic impact.

Markets face more violent swings, as information becomes available on the spread of the coronavirus and how it is hurting the economy.

Goldman economists had expected a decline of 5% in the second quarter, but they said social distancing measures have affected many sectors and will hit hard.

For a market rocked by big volatile moves lower, Friday's expiration of stock futures and options could add even more wild swings.

Check out the companies making headlines after the bell.

Just like consumers started a run on toilet paper, major institutions have created a dollar shortage as some hoard more than they need.

Thursday's spike in weekly jobless claims, considered the canary in the coal mine for labor, signals the start of a crush of layoffs amid the coronavirus pandemic.

Check out the companies making headlines after the bell.

The Fed is throwing all its fire power at markets, but interest rates continue to rise, a troubling sign when the economy looks set to slow.

Check out the companies making headlines in midday trading.

The double-barreled approach of a $1 trillion proposed fiscal stimulus program and Federal Reserve policy could help soften the blow of a recession.

- Maulik Madhu

My SIP Returns are dismal – What should I do?

The last few weeks have been disheartening for equity market investors. Waiting for 5 long years only to see dismal returns from their equity SIPs is not what long-term investors were expecting.  This is no doubt extremely painful and annoying. While subpar 5-year SIP returns are not very common, they are not an impossibility. They […]

The post My SIP Returns are dismal – What should I do? appeared first on Insights.

- Arun Kumar

What will happen to markets? Your maths teacher has the answer..

At a time when most of us are worried about our health and safety, the equity markets are not making it any easier for us. All of us are worried about the same question… What will happen to the equity markets next? Instead of us boring you with jargons such as valuations, earnings growth blah […]

The post What will happen to markets? Your maths teacher has the answer.. appeared first on Insights.

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6 reasons why you shouldn’t exit now

Should we press the ‘exit’ button? Most of us at this juncture, will have a narrative similar to this running in our minds.. Coronavirus is dangerous and it’s spreading across the world It will have a negative impact on business & economy Sharp fall in oil prices is adding to the worries on global growth […]

The post 6 reasons why you shouldn’t exit now appeared first on Insights.

- Arun Kumar

Things under our control

The last few weeks have been pretty tough for most of us. At the current juncture, while ‘Be Patient’ remains the best time-tested advice, let us be honest. This is far easier said than done.  Given the sharp declines in the equity market, there is a high likelihood of hasty decisions in panic, which can […]

The post Things under our control appeared first on Insights.

- Maulik Madhu

What should you do with your SIP?

The past few weeks have been tough for investors globally and in India. Equity markets are down close to 25% from their recent highs. The gradual decline in the markets which started in late Jan, gathering pace in the last couple of weeks will have impacted your investment return.  So, if you have been diligently […]

The post What should you do with your SIP? appeared first on Insights.

- Arun Kumar

This Happens!

Sometimes we forget the simple truth. THIS HAPPENS! Markets go down. In fact a lot of times. Let me clarify… Markets go up, and then they go down. Over time they go up more than they go down. If you have forgotten this, probably today is an apt time to refresh your memory. Here is […]

The post This Happens! appeared first on Insights.

- Mutual Fund Research Desk

Monthly Market Insight – February 2020

The February 2020 edition of FundsIndia’s Monthly Market Insight discusses an unusual portfolio approach to deal with Coronavirus and the position at which the Sensex would be in ten years. Consumer Price Index (CPI) Inflation rose to 7.6% in Jan-20 compared to 7.4% in Dec-19. The major share of the rise in inflation is due to […]

The post Monthly Market Insight – February 2020 appeared first on Insights.

- Arun Kumar

Things No One Tells You About ‘Exit Now and Enter Later’

Eavesdropping on your mind-voice during a market decline Whenever equity markets decline, there is usually some bad news attached to it.  Intuitively, the first instinct is to extrapolate the bad news and expect the markets to fall further. However, listening to our boring (yet effective) advice that “no one can’t predict the markets in the […]

The post Things No One Tells You About ‘Exit Now and Enter Later’ appeared first on Insights.

- Arun Kumar

An Unusual Portfolio Approach to Deal with Coronavirus

What happened? In the last few days, global equity markets have fallen sharply on concerns of coronavirus, a respiratory illness first identified in Wuhan, China, and spreading globally.  The market decline came as the outbreak continued to spread outside of China; with Iran, South Korea and Italy reporting a surge in cases. At the current […]

The post An Unusual Portfolio Approach to Deal with Coronavirus appeared first on Insights.

- Arun Kumar

IDFC Sterling Value Fund

Not so great recent performance… Intuitively most of us like to buy a fund with a strong recent performance or high star rating (which is significantly influenced by strong recent performance). Let us check what IDFC Sterling Value Fund’s recent performance looks like… Oops! Nothing to write home about.  So our natural response is to […]

The post An underrated fund at the helm of a veteran fund manager appeared first on Insights.

- Arun Kumar

Sensex at 1 lakh!

Usually, this genre of headlines gets extremely popular during the final phase of a bull market before it eventually fizzles out. And in later years, this normally becomes part of the blogging folklore on how euphoric ‘magazine and newspaper headlines’ ironically predicted the peak of the bull market. Now before you get worried that this […]

The post Sensex at 1 lakh! appeared first on Insights.

- Mutual Fund Research Desk

Monthly Market Insight - January 2020

The January 2020 edition of FundsIndia’s Monthly Market Insight discusses the highlights of Union Budget 2020-2021 and the way it has turned out. CPI inflation rose to 7.4% in Dec-19 compared to 5.5% in Nov-19. This is mainly due to increase in prices of food and beverages. Within food, the rise in vegetable prices and pulses resulted in […]

The post Monthly Market Insight – January 2020 appeared first on Insights.

- Maulik Madhu

Monthly Dividend Plans

MF Monthly Dividend Plans are sometimes sold to investors on the pitch that they will offer almost 1% ‘return’ in the form of dividend payouts every month. That is, a ‘return’ of around 10-12% for the year. Sounds attractive right? Let’s check what really happens, by taking the example of ICICI Prudential Equity & Debt […]

The post What no one tells you about Monthly Dividend Plans appeared first on Insights.

- Maulik Madhu

Dividend or Growth Plans

The 2020-21 Budget has done away with the dividend distribution tax (DDT) that funds have to deduct before distributing dividends to investors. Instead, from 1 April 2020 dividends will be taxed in the hands of investors at their relevant income tax slab rates.  What does this mean for mutual fund investors?  Pre- and Post-Budget – […]

The post Dividend or Growth Plans? It’s a no-brainer post budget appeared first on Insights.

- Arun Kumar

Budget 2020-21

Given the context of an economic slowdown, expectations were high for strong growth measures to revive the economy. The budget was predominantly ‘incremental’ in nature sticking to a fiscally conservative stance. However, it fell short on immediate measures to revive the economy. The shift in the burden of DDT to investors, a diluted personal tax […]

The post India Budget 2020-21 – Conservative and Incremental appeared first on Insights.

- Maulik Madhu

Are Mid Cap funds a must-have?

Over the last two years, giving the go-by to the gloomy macroeconomic situation, large caps have continued to trend upwards. With investors flocking towards safety, inflows into the market have been chasing a select group of large cap stocks. Mid-caps on the hand, have corrected sharply since their highs in Jan 2018. This has broadly […]

The post Are Mid Cap funds a must-have? appeared first on Insights.

- Maulik Madhu

FundsIndia Review – Parag Parikh Long Term Equity Fund

Why Invest? Proven Investment Strategy – Parag Parikh Long Term Equity Fund adheres to the value style of investing and selects stocks across market cap (large, mid and small-sized companies). It follows the buy-and-hold strategy and manages a concentrated portfolio of a few high-conviction stocks.  Global Exposure: The fund’s exposure to global stocks provides investors […]

The post FundsIndia Review – Parag Parikh Long Term Equity Fund appeared first on Insights.

- Arun Kumar

US-Iran tension

Unless you are living under a rock, by now you should know about the US-Iran tension. Here is a quick summary: The United States killed a top Iranian military commander general Qasem Soleimani in an airstrike in Iraq on Friday (03-Jan-2020). Iran declared it would no longer abide by any of the restrictions imposed by […]

The post US, Iran and your Portfolio. What happens next? appeared first on Insights.

- Anant Kavuri

recent events

The turn of events in the last few days has come as a surprise to many market watchers. While some are still wondering about what the future holds for their portfolios, few have already taken a step ahead and hedged their market positions.  But would this event risk be of a large scale or would […]

The post The world is confused about who will blink first, if at all they do!! appeared first on Insights.

- Mutual Fund Research Desk

Monthly Market Insight – December 2019

The December 2019 edition of FundsIndia’s Monthly Market Insight discusses the importance of time in markets and the performance of Large Cap Funds. CPI inflation stood at 5.5% in Nov-19 compared to 4.7% in Oct-19. The increase in food and vegetable prices resulted in a steep rise, which is the highest in three years. Data […]

The post Monthly Market Insight – December 2019 appeared first on Insights.

- Naveen R S

Tax saving ELSS

With the tax-return filing season just a few months away, check out the tax saving ELSS funds for reducing your tax outgo. You can shortlist one or two funds from fund houses of established pedigree based on their long-run performance track record and a belief in their investment strategy. Here we review two tax saving ELSS […]

The post ELSS Options for Tax Saving appeared first on Insights.

- Arun Kumar

Debt Mutual Funds – Portfolio Construction Framework

In recent times, debt mutual funds have been in the limelight, primarily because of NAV declines in few funds led by credit downgrades and defaults. While the credit-related risks were always there across funds with exposure to lower credit securities, the fact that they did not play out for a long time had led to […]

The post Debt Mutual Funds – Portfolio Construction Framework appeared first on Insights.

- Maulik Madhu

Is Small the new Big?

What happened to Neil Woodford? The recent incident involving the iconic and now infamous British fund manager, Neil Woodford (often referred to as Britain’s answer to Warren Buffett) where his funds failed to meet investors’ redemption requests due to insufficient liquidity has brought the focus back on an otherwise ignored topic – liquidity risk. His […]

The post Is Small the new Big? appeared first on Insights.

- FundsIndia Desk

FundsIndia Archives: Top Blog Posts of 2019

‘FundsIndia Archives’ is a series where we put together the blog posts that all of you’ve enjoyed reading over the years under popular and specific topics. Missed out on some of our informative and interesting blog posts this year? No problem! Here is a list of our top posts of 2019, which cover a range […]

The post FundsIndia Archives: Top Blog Posts of 2019 appeared first on Insights.

- Arun Kumar

Timing the market

 “Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars” – Bernard Baruch Attempts at timing the market can make investors worse off in the long run than riding out the inherent volatility. This is simply because it’s hard to precisely forecast how the market will […]

The post Why time in the market matters more than timing the market appeared first on Insights.

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On 14 January, the Ministry of Consumer Affairs, Food & Public Distribution issued a notification on making Gold Hallmarking mandatory. Union Minister Ram Vilas Paswan said that the purpose of making hallmarking mandatory for gold jewellery and artefacts is to ensure

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Editor's note: Dear reader, we are now on Telegram! Get our latest views on stock markets and more, instantly. Join our Telegram channel here!

It was a volatile day for India share markets today. The benchmark indices opened higher but turned volatile and erased most of the gains thereafter, even after the RBI in its MPC meet cut the repo rate by 75 bps to 4.40%.

Losses were seen as market participants turned cautious after RBI Governor Shaktikanta Das said that there's a rising probability that large parts of the global economy will slip into recession.

At the closing bell, the�BSE Sensex�stood lower by 131 points (down 0.4%) and the�NSE Nifty�stood up by 18 points (up 0.2%).

The�BSE Mid Cap�index ended the day down 0.3%, while the�BSE Small Cap�index stood up by 0.3%.

Most of the sectoral indices ended in the red with stocks in the telecom sector, auto sector and oil & gas sector witnessing maximum selling pressure.

Asian stock markets finished on a positive note. As of the most recent closing prices, the�Hang Seng�was up by 0.56% and the Shanghai Composite was up by 0.26%. The�Nikkei 225�was up by 3.88%.

European markets were trading on a negative note. The FTSE 100 was down by 3.97%. The DAX was trading down by 2.19%, while the CAC 40 stood down 3.05%.

The rupee was trading at 75.27 against the�US$.

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Note that the Indian stock market has fallen 36% in just over a month. However, Vijay Bhambwani's subscribers have been saved from a lot of pain in this market.

He's had 16 out of 22 profitable trades in these difficult times and his last 11 trades, over the last six months, have been profitable. He has delivered a return on investment of 42.95% for his subscribers at a time like this when everyone is barely managing to stay afloat due to daily losses.

Vijay will be online for his upcoming event on Monday, 30 March at 5 pm.

The Weekly Cash Summit is where Vijay will share his blueprint for consistently beating the market. Register for free here.

Also, a few days ago, we asked you to participate in�Equitymaster's�"State of the Markets" poll.

The poll asked you to vote on what holds next for the Indian stock markets amid the gloomy economy and coronavirus fears.

Many of you voted for the same and we thank you for participating. The numbers are in and�here are the results.

In news from the macroeconomic space, Moody's Investors Service has more than halved India's 2020 growth forecast to 2.5%. This is within just three weeks of its previous downgrade to 5.3%.

This growth reduction is in sharp contrast to the previous downgrade of 0.1%. Earlier this month Moody's had revised its estimate to 5.3% from 5.4% in February. It had said the country's growth could slow down to 5% if the virus was not contained in its previous update.

According to the Global Macro Outlook 2020-21 released on Friday, the 21-day lockdown announced by Prime Minister Narendra Modi would result in a sharp loss in incomes and further weigh on domestic demand and the pace of recovery.

The report said a general lack of social safety nets, weak ability to provide adequate support to businesses and households, and inherent weaknesses in many major emerging market countries will amplify the effects of the coronavirus-induced shock.

Moody's also sharply revised China's growth forecast to 3.3% this year down from 4.8%. It said that based on the latest high frequency indicators, we estimate that China's economy contracted by around 10% in the first quarter on a sequential basis.

The ratings agency saw growth going into negative territory in major western economies with estimates of contractions of 5.4% in Germany, 4.5% in Italy, 4.3% in the US, 3.9% in the UK and 3.5% in France during the first half of 2020.

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In other news, the RBI�today lowered the key�repo rate�by 75 basis points (bps) to 4.4%. The move is to help arrest the economic slowdown in the wake of the�coronavirus�outbreak.

Here are some of the key takeaways from today's RBI policy decision:

The RBI made a sizeable cut in repo rate. It slashed the repo rate by 75 bps. The reverse�repo was also reduced by 90 bps and now stands at 4%. This has made the repo rate falling to the lowest ever. Before this, it had hit the lowest point of 4.74% in April 2009 in the wake of the global financial crisis.

Meanwhile, the cash reserve ratio (CRR) has been slashed by 100 bps to 3%.

The six-member Monetary Policy Committee (MPC) voted 4-2 in favour of the reduction of the repo rate by 75 bps, RBI Governor Shaktikanta Das said in an address to media.

The RBI also allowed banks and other lending institutions to extend the repayment schedule and moratorium by three months to avoid large NPAs and reduce risk weights.

The RBI said that the coronavirus pandemic will affect the growth of most sectors. Referring to the illness, Shaktikanta Das said that apart from continuing resilience from agriculture and allied sectors, most sectors of the economy will be adversely impacted by COVID-19, depending upon its intensity, spread and duration.

For liquidity measures, Das said that large selloffs in markets have intensified redemption pressure. The RBI will conduct auctions of long-term repo operation (LTRO) of up to three-year tenure of appropriate sizes for a total amount up to Rs 1 lakh crore at a floating rate linked to the policy repo rate

Deferment of interest on working capital facilities was also announced. As per the RBI, Lending institutions can defer by three months payment of interest outstanding as on March 1 on working capital facilities sanctioned in the form of cash-credit and overdraft and such. The accumulated interest for the period will be paid at the end of the deferment period.

Note that many other central banks have been taking similar measures to relieve their economy from the escalating global�coronavirus�pandemic.

Earlier this month, the US Federal Reserve lowered the interest rates, bringing it near zero, in another emergency move to help shore up the US economy. The Fed had cut interest rates by half a percentage point on March 3, too, in its first emergency cut since the financial crisis of 2008.

The Reserve Bank of New Zealand (RBA) slashed interest rates by 75 bps to a record low. The Reserve Bank of Australia poured US$ 3.6 billion in liquidity into Australia's financial system and said it was prepared to buy government bonds.

The coronavirus threat has meant sharp losses for global stock markets.

We have written a piece around how deep this impact has been felt in the global financial markets. You can check out the same here:�Worst Week for Global Stock Markets: Coronavirus Impact in 10 Points

Tanushree Banerjee believes the ongoing stock market correction could, in fact, be an inflection point for what she calls the irreversible�Rebirth of India megatrends.

For bluechip stocks, she believes the time is ripe to begin buying some of the safest bluechips as there is safety in valuations and the market is offering them at deeper and deeper bargains.

The profits of bluechips (BSE 200 companies) are currently at a decade low as can be seen in the chart below.

A Rebound in Profits Overdue?

Tanushree is recommending her subscribers, to buy stocks selectively, a few at a time, by taking partial exposures to begin with.

She has already recommended 4 safe bluechips in the past month and there are several more in her watchlist. You can access them here:�Here's How You Could Trade the Coronavirus Crisis Safely�(requires subscription)

And if you are not a StockSelect subscriber,�here's where you sign up.

To know what's moving the Indian stock markets today, check out the most recent�share market updates here.

This article (Volatile Day for Indian Indices: Sensex Ends 131 Points Lower Post Rebound; Telecom and Auto Stocks Bleed) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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DR. LAL PATHLABS LTD share price has zoomed 5% and is presently trading at Rs 1,571.

Meanwhile, the BSE HEALTHCARE Index is at 11,988 (up 0.5%).

Among the top Gainers in the BSE HEALTHCARE Index today are DR. LAL PATHLABS LTD (up 5.2%) and AJANTA PHARMA (up 6.2%).

ALEMBIC PHARMA (down 0.1%) and DR. REDDYS LAB (down 0.2%) are among the top losers today.

Over the last one year, DR. LAL PATHLABS LTD has moved up from Rs 1,080 to Rs 1,571, registering a gain of Rs 491 (up 38.4%).

On the other hand, the BSE HEALTHCARE has moved down from 14,200 to 11,988, loss of 2,212 points (down 17.9%) during the last 12 months.

The top gainers among the BSE HEALTHCARE Index stocks during this same period were ABBOTT INDIA (up 91.0%), J.B.CHEMICALS (up 47.5%) and DR. LAL PATHLABS LTD (up 38.4%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.3%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.4%), ITC (up 3.9%) and NTPC (up 3.9%). Other gainers include M&M (up 2.8%) and TCS (up 2.0%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.4%). The top gainers in the NSE Nifty include COAL INDIA (up 6.6%), AXIS BANK (up 6.2%) and CIPLA (up 6.0%). Other gainers include NTPC (up 4.7%) and ITC (up 4.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.91%).

This article (DR. LAL PATHLABS LTD Surges by 5%; BSE HEALTHCARE Index Up 0.5%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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TEAMLEASE SERVICES share price has plunged 10% and is presently trading at Rs 1,777.

Meanwhile, the BSE 500 Index is at 11,596 (down 0.2%).

Among the top losers in the BSE 500 Index today are TEAMLEASE SERVICES (down 10.2%) and MAHARASHTRA SEAMLESS (down 14.4%).

SHRIRAM TRANSPORT (up 12.6%) and MMTC LTD (up 12.2%) are among the top gainers today.

Over the last one year, TEAMLEASE SERVICES has moved down from Rs 2,972 to Rs 1,777, registering a loss of Rs 1,195 (down 40.2%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 317.2%), ABBOTT INDIA (up 91.0%) and NAVIN FLUORINE (up 83.4%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.3%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.4%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.4%). COAL INDIA (up 6.6%) and AXIS BANK (up 6.2%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.91%).

This article (TEAMLEASE SERVICES Plunges by 10%; BSE 500 Index Down 0.2%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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NESCO share price has plunged 6% and is presently trading at Rs 520.

Meanwhile, the BSE CAPITAL GOODS Index is at 11,827 (down 0.3%).

Among the top losers in the BSE CAPITAL GOODS Index today are NESCO (down 5.9%) and AIA ENGINEERING (down 5.3%).

BHARAT ELECTRONICS (up 9.0%) and FINOLEX CABLES (up 6.6%) are among the top gainers today.

Over the last one year, NESCO has moved up from Rs 459 to Rs 520, registering a gain of Rs 61 (up 13.4%)..

The BSE CAPITAL GOODS has moved down from 18,192 to 11,827, loss of 6,365 points (down 35.0%) during the last 12 months.

The top gainers among the BSE CAPITAL GOODS Index stocks during this same period were HONEYWELL AUTOMATION (up 13.3%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.3%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.4%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.4%). COAL INDIA (up 6.6%) and AXIS BANK (up 6.2%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.91%).

NESCO Financial Update...

NESCO net profit stood at Rs 691 million for the quarter ended December 2019, compared to a profit of Rs 420 million a year ago. Net Sales rose 30.0% to Rs 1.2 billion during the period as against Rs 885.0 million in October-December 2018.

For the year ended March 2019, NESCO reported 1.0% increase in net profit to Rs 1.8 billion compared to net profit of Rs 1.8 billion during FY18.

Revenue of the company grew 11.7% to Rs 4 billion during FY19.

The current Price to earnings ratio of NESCO, based on rolling 12 month earnings, stands at 14.2x.

This article (NESCO Plunges by 6%; BSE CAPITAL GOODS Index Down 0.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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SIEMENS share price has plunged 5% and is presently trading at Rs 1,165.

Meanwhile, the BSE CAPITAL GOODS Index is at 11,827 (down 0.3%).

Among the top losers in the BSE CAPITAL GOODS Index today is SIEMENS (down 5.1%).

BHARAT ELECTRONICS (up 8.7%) and FINOLEX CABLES (up 6.7%) are among the top gainers today.

Over the last one year, SIEMENS has moved up from Rs 1,057 to Rs 1,165, registering a gain of Rs 108 (up 10.3%)..

The BSE CAPITAL GOODS has moved down from 18,192 to 11,827, loss of 6,365 points (down 35.0%) during the last 12 months.

The top gainers among the BSE CAPITAL GOODS Index stocks during this same period were HONEYWELL AUTOMATION (up 12.2%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.6%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 4.5%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.3%). COAL INDIA (up 7.2%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.16%).

SIEMENS Financial Update...

SIEMENS net profit stood at Rs 3 billion for the quarter ended December 2019, compared to a profit of Rs 1 billion a year ago. Net Sales declined 4.9% to Rs 26.7 billion during the period as against Rs 28.1 billion in October-December 2018.

For the year ended September 2019, SIEMENS reported 22.0% increase in net profit to Rs 11.0 billion compared to net profit of Rs 9.0 billion during FY18.

Revenue of the company grew 7.6% to Rs 138 billion during FY19.

The current Price to earnings ratio of SIEMENS, based on rolling 12 month earnings, stands at 32.9x.

This article (SIEMENS Plunges by 5%; BSE CAPITAL GOODS Index Down 0.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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PFIZER share price has plunged 5% and is presently trading at Rs 4,000.

Meanwhile, the BSE HEALTHCARE Index is at 11,988 (down 0.4%).

Among the top losers in the BSE HEALTHCARE Index today are PFIZER (down 5.2%) and APOLLO HOSPITALS (down 6.0%).

GRANULES INDIA (up 10.6%) and CAPLIN POINT (up 7.4%) are among the top gainers today.

Over the last one year, PFIZER has moved up from Rs 3,220 to Rs 4,000, registering a gain of Rs 779 (up 24.2%)..

The BSE HEALTHCARE has moved down from 14,200 to 11,988, loss of 2,212 points (down 15.6%) during the last 12 months.

The top gainers among the BSE HEALTHCARE Index stocks during this same period were ABBOTT INDIA (up 93.5%), J.B.CHEMICALS (up 48.6%) and DR. LAL PATHLABS LTD (up 39.9%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.8%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 4.3%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.1%). COAL INDIA (up 6.9%) and AXIS BANK (up 5.4%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.34%).

PFIZER Financial Update...

PFIZER net profit stood at Rs 1 billion for the quarter ended December 2019, compared to a profit of Rs 1 billion a year ago. Net Sales rose 4.7% to Rs 5.4 billion during the period as against Rs 5.1 billion in October-December 2018.

For the year ended March 2019, PFIZER reported 19.2% increase in net profit to Rs 4.3 billion compared to net profit of Rs 3.6 billion during FY18.

Revenue of the company grew 5.1% to Rs 21 billion during FY19.

The current Price to earnings ratio of PFIZER, based on rolling 12 month earnings, stands at 32.7x.

This article (PFIZER Plunges by 5%; BSE HEALTHCARE Index Down 0.4%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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CASTROL INDIA share price has plunged 5% and is presently trading at Rs 109.

Meanwhile, the BSE OIL & GAS Index is at 9,803 (down 1.7%).

Among the top losers in the BSE OIL & GAS Index today is CASTROL INDIA (down 5.1%).

PETRONET LNG (up 1.5%) and OIL INDIA (up 1.5%) are among the top gainers today.

Over the last one year, CASTROL INDIA has moved down from Rs 164 to Rs 109, registering a loss of Rs 54 (down 33.2%)..

The BSE OIL & GAS has moved down from 15,167 to 9,803, loss of 5,364 points (down 35.4%) during the last 12 months.

The top gainers among the BSE OIL & GAS Index stocks during this same period were INDRAPRASTHA GAS (up 16.5%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.8%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 4.3%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (down 0.2%). COAL INDIA (up 6.3%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.33%).

CASTROL INDIA Financial Update...

CASTROL INDIA net profit stood at Rs 3 billion for the quarter ended December 2019, compared to a profit of Rs 2 billion a year ago. Net Sales declined 2.1% to Rs 10.1 billion during the period as against Rs 10.3 billion in October-December 2018.

For the year ended December 2018, CASTROL INDIA reported 2.4% increase in net profit to Rs 7.1 billion compared to net profit of Rs 6.9 billion during FY17.

Revenue of the company grew 1.4% to Rs 39 billion during FY18.

The current Price to earnings ratio of CASTROL INDIA, based on rolling 12 month earnings, stands at 11.9x.

This article (CASTROL INDIA Plunges by 5%; BSE OIL & GAS Index Down 1.7%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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GSK PHARMA share price has plunged 6% and is presently trading at Rs 1,250.

Meanwhile, the BSE HEALTHCARE Index is at 11,988 (up 0.1%).

Among the top losers in the BSE HEALTHCARE Index today are GSK PHARMA (down 5.7%) and APOLLO HOSPITALS (down 5.7%).

GRANULES INDIA (up 9.6%) and DR. LAL PATHLABS LTD (up 9.0%) are among the top gainers today.

Over the last one year, GSK PHARMA has moved down from Rs 1,290 to Rs 1,250, registering a loss of Rs 40 (down 3.1%)..

The BSE HEALTHCARE has moved down from 14,200 to 11,988, loss of 2,212 points (down 15.6%) during the last 12 months.

The top gainers among the BSE HEALTHCARE Index stocks during this same period were ABBOTT INDIA (up 93.5%), J.B.CHEMICALS (up 48.6%) and DR. LAL PATHLABS LTD (up 43.4%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.2%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.1%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (down 0.2%). COAL INDIA (up 6.3%) and AXIS BANK (up 4.6%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.83%).

GSK PHARMA Financial Update...

GSK PHARMA net profit down at Rs 6 billion for the quarter ended December 2019, compared to a loss of Rs 1 billion a year ago. Net Sales declined 5.7% to Rs 7.8 billion during the period as against Rs 8.3 billion in October-December 2018.

For the year ended March 2019, GSK PHARMA reported 25.1% increase in net profit to Rs 4.2 billion compared to net profit of Rs 3.3 billion during FY18.

Revenue of the company grew 8.0% to Rs 31 billion during FY19.

The current Price to earnings ratio of GSK PHARMA, based on rolling 12 month earnings, stands at 200.8x.

This article (GSK PHARMA Plunges by 6%; BSE HEALTHCARE Index Up 0.1%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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SUNDRAM FASTENERS share price has zoomed 11% and is presently trading at Rs 292.

Meanwhile, the BSE 500 Index is at 11,596 (down 0.4%).

Among the top Gainers in the BSE 500 Index today are SUNDRAM FASTENERS (up 11.5%) and SHEELA FOAM LTD (up 12.6%).

SUN PHARMA and TITAN are among the top losers today.

Over the last one year, SUNDRAM FASTENERS has moved down from Rs 552 to Rs 292, registering a loss of Rs 260 (down 48.4%).

On the other hand, the BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 26.3%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 310.7%), ABBOTT INDIA (up 91.6%) and NAVIN FLUORINE (up 80.8%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.4%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.0%), ITC (up 3.4%) and NTPC (up 3.0%). Other gainers include POWER GRID (up 2.4%) and SBI (up 2.2%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 . The top gainers in the NSE Nifty include COAL INDIA (up 6.2%), CIPLA (up 4.4%) and AXIS BANK (up 4.4%). Other gainers include NTPC (up 4.3%) and ITC (up 3.8%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.96%).

SUNDRAM FASTENERS Financial Update...

SUNDRAM FASTENERS net profit down at Rs 711 million for the quarter ended September 2019, compared to a loss of Rs 1 billion a year ago. Net Sales declined 24.9% to Rs 7.7 billion during the period as against Rs 10.2 billion in July-September 2018.

For the year ended March 2019, SUNDRAM FASTENERS reported 18.2% increase in net profit to Rs 4.6 billion compared to net profit of Rs 3.9 billion during FY18.

Revenue of the company grew 16.5% to Rs 46 billion during FY19.

The current Price to earnings ratio of SUNDRAM FASTENERS, based on rolling 12 month earnings, stands at 15.5x.

This article (SUNDRAM FASTENERS Surges by 11%; BSE 500 Index Down 0.4%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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CRISIL share price has plunged 10% and is presently trading at Rs 1,498.

Meanwhile, the BSE 500 Index is at 11,596 (down 0.4%).

Among the top losers in the BSE 500 Index today are CRISIL (down 10.1%) and MAHARASHTRA SEAMLESS (down 14.8%).

SHEELA FOAM LTD (up 12.6%) and CARE RATING (up 12.4%) are among the top gainers today.

Over the last one year, CRISIL has moved up from Rs 1,478 to Rs 1,498, registering a gain of Rs 20 (up 1.3%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 310.7%), ABBOTT INDIA (up 91.6%) and NAVIN FLUORINE (up 80.8%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.4%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.0%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 . COAL INDIA (up 6.2%) and CIPLA (up 4.4%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.96%).

CRISIL Financial Update...

CRISIL net profit down at Rs 953 million for the quarter ended December 2019, compared to a loss of Rs 1 billion a year ago. Net Sales declined 0.6% to Rs 4.6 billion during the period as against Rs 4.7 billion in October-December 2018.

For the year ended December 2018, CRISIL reported 19.3% increase in net profit to Rs 3.6 billion compared to net profit of Rs 3.0 billion during FY17.

Revenue of the company grew 5.4% to Rs 17 billion during FY18.

The current Price to earnings ratio of CRISIL, based on rolling 12 month earnings, stands at 26.4x.

This article (CRISIL Plunges by 10%; BSE 500 Index Down 0.4%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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ENGINEERS INDIA share price has zoomed 6% and is presently trading at Rs 64.

Meanwhile, the BSE CAPITAL GOODS Index is at 11,827 (up 0.4%).

Among the top Gainers in the BSE CAPITAL GOODS Index today are ENGINEERS INDIA (up 5.5%) and HINDUSTAN AERONAUTICS (up 7.3%).

KALPATARU POWER (down 0.4%) and BHEL (down 0.5%) are among the top losers today.

Over the last one year, ENGINEERS INDIA has moved down from Rs 114 to Rs 64, registering a loss of Rs 50 (down 47.2%).

On the other hand, the BSE CAPITAL GOODS has moved down from 18,192 to 11,827, loss of 6,365 points (down 38.0%) during the last 12 months.

The top gainers among the BSE CAPITAL GOODS Index stocks during this same period were HONEYWELL AUTOMATION (up 13.2%) and SIEMENS (up 0.1%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.3%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 5.0%), ITC (up 3.5%) and NTPC (up 3.1%). Other gainers include POWER GRID (up 2.3%) and SBI (up 2.1%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 . The top gainers in the NSE Nifty include COAL INDIA (up 6.2%), CIPLA (up 4.4%) and AXIS BANK (up 4.4%). Other gainers include NTPC (up 4.3%) and ITC (up 3.8%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.95%).

ENGINEERS INDIA Financial Update...

ENGINEERS INDIA net profit stood at Rs 1 billion for the quarter ended December 2019, compared to a profit of Rs 908 million a year ago. Net Sales rose 54.4% to Rs 8.9 billion during the period as against Rs 5.8 billion in October-December 2018.

For the year ended March 2019, ENGINEERS INDIA reported 2.7% decrease in net profit to Rs 3.7 billion compared to net profit of Rs 3.8 billion during FY18.

Revenue of the company grew 35.7% to Rs 25 billion during FY19.

The current Price to earnings ratio of ENGINEERS INDIA, based on rolling 12 month earnings, stands at 9.6x.

This article (ENGINEERS INDIA Surges by 6%; BSE CAPITAL GOODS Index Up 0.4%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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GRANULES INDIA share price has zoomed 6% and is presently trading at Rs 145.

Meanwhile, the BSE HEALTHCARE Index is at 11,988 (down 0.2%).

Among the top Gainers in the BSE HEALTHCARE Index today are GRANULES INDIA (up 6.4%) and AJANTA PHARMA (up 5.6%).

SUN PHARMA (down 0.2%) and SANOFI INDIA (down 0.3%) are among the top losers today.

Over the last one year, GRANULES INDIA has moved up from Rs 112 to Rs 145, registering a gain of Rs 34 (up 27.4%).

On the other hand, the BSE HEALTHCARE has moved down from 14,200 to 11,988, loss of 2,212 points (down 18.4%) during the last 12 months.

The top gainers among the BSE HEALTHCARE Index stocks during this same period were ABBOTT INDIA (up 93.7%), J.B.CHEMICALS (up 47.6%) and DR. LAL PATHLABS LTD (up 36.7%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.2%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 6.2%), NTPC (up 3.7%) and ITC (up 3.6%). Other gainers include POWER GRID (up 3.2%) and SBI (up 2.4%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.1%). The top gainers in the NSE Nifty include COAL INDIA (up 6.2%), AXIS BANK (up 5.0%) and CIPLA (up 4.5%). Other gainers include NTPC (up 4.2%) and ITC (up 3.7%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.83%).

This article (GRANULES INDIA Surges by 6%; BSE HEALTHCARE Index Down 0.2%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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COCHIN SHIPYARD share price has zoomed 10% and is presently trading at Rs 248.

Meanwhile, the BSE 500 Index is at 11,596 (up 0.7%).

Among the top Gainers in the BSE 500 Index today are COCHIN SHIPYARD (up 10.3%) and SHEELA FOAM LTD (up 12.6%).

GUJARAT ALKALIES and BANK OF BARODA (down 0.1%) are among the top losers today.

Over the last one year, COCHIN SHIPYARD has moved down from Rs 389 to Rs 248, registering a loss of Rs 141 (down 36.3%).

On the other hand, the BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 25.5%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 314.1%), ABBOTT INDIA (up 94.4%) and NAVIN FLUORINE (up 82.7%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (up 0.9%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 10.9%), ITC (up 4.5%) and POWER GRID (up 4.1%). Other gainers include NTPC (up 3.7%) and ICICI BANK (up 3.7%). The most traded stocks in the BSE Sensex are RELIANCE IND. and SBI.

In the meantime, NSE Nifty is at 9,039 (up 0.8%). The top gainers in the NSE Nifty include AXIS BANK (up 10.0%), COAL INDIA (up 7.2%) and CIPLA (up 4.7%). Other gainers include ITC (up 4.0%) and NTPC (up 4.0%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 20.96%).

This article (COCHIN SHIPYARD Surges by 10%; BSE 500 Index Up 0.7%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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CEAT LTD. share price has zoomed 10% and is presently trading at Rs 727.

Meanwhile, the BSE 500 Index is at 11,596 (up 0.8%).

Among the top Gainers in the BSE 500 Index today are CEAT LTD. (up 10.2%) and SHEELA FOAM LTD (up 10.7%).

J.B.CHEMICALS and AMBUJA CEMENT are among the top losers today.

Over the last one year, CEAT LTD. has moved down from Rs 1,097 to Rs 727, registering a loss of Rs 370 (down 33.7%).

On the other hand, the BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 25.4%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 314.8%), ABBOTT INDIA (up 92.4%) and NAVIN FLUORINE (up 82.9%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (up 0.9%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 11.5%), NTPC (up 4.8%) and SBI (up 4.4%). Other gainers include POWER GRID (up 4.4%) and ICICI BANK (up 4.1%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 1.5%). The top gainers in the NSE Nifty include AXIS BANK (up 11.2%), COAL INDIA (up 7.0%) and CIPLA (up 5.3%). Other gainers include NTPC (up 5.0%) and POWER GRID (up 4.6%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 20.95%).

CEAT LTD. Financial Update...

CEAT LTD. net profit stood at Rs 479 million for the quarter ended December 2019, compared to a profit of Rs 459 million a year ago. Net Sales rose 2.8% to Rs 17.6 billion during the period as against Rs 17.1 billion in October-December 2018.

For the year ended March 2019, CEAT LTD. reported 12.9% increase in net profit to Rs 2.8 billion compared to net profit of Rs 2.4 billion during FY18.

Revenue of the company grew 8.2% to Rs 70 billion during FY19.

The current Price to earnings ratio of CEAT LTD., based on rolling 12 month earnings, stands at 13.1x.

This article (CEAT LTD. Surges by 10%; BSE 500 Index Up 0.8%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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CIPLA share price has zoomed 5% and is presently trading at Rs 408.

Meanwhile, the BSE HEALTHCARE Index is at 11,988 (up 0.3%).

Among the top Gainers in the BSE HEALTHCARE Index today are CIPLA (up 5.1%) and AJANTA PHARMA (up 5.7%).

WOCKHARDT (down 0.3%) and SANOFI INDIA (down 0.4%) are among the top losers today.

Over the last one year, CIPLA has moved down from Rs 529 to Rs 408, registering a loss of Rs 121 (down 23.2%).

On the other hand, the BSE HEALTHCARE has moved down from 14,200 to 11,988, loss of 2,212 points (down 18.0%) during the last 12 months.

The top gainers among the BSE HEALTHCARE Index stocks during this same period were ABBOTT INDIA (up 91.3%), J.B.CHEMICALS (up 47.8%) and IPCA LABS (up 35.9%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (up 0.3%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.7%), POWER GRID (up 3.9%) and NTPC (up 3.2%). Other gainers include ITC (up 3.0%) and SBI (up 3.0%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 1.4%). The top gainers in the NSE Nifty include AXIS BANK (up 11.5%), COAL INDIA (up 6.7%) and CIPLA (up 5.5%). Other gainers include UPL (up 5.2%) and NTPC (up 4.6%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.46%).

CIPLA Financial Update...

CIPLA net profit stood at Rs 4 billion for the quarter ended December 2019, compared to a profit of Rs 3 billion a year ago. Net Sales rose 9.1% to Rs 43.7 billion during the period as against Rs 40.1 billion in October-December 2018.

For the year ended March 2019, CIPLA reported 0.9% increase in net profit to Rs 15.1 billion compared to net profit of Rs 15.0 billion during FY18.

Revenue of the company grew 8.3% to Rs 160 billion during FY19.

The current Price to earnings ratio of CIPLA, based on rolling 12 month earnings, stands at 19.5x.

This article (CIPLA Surges by 5%; BSE HEALTHCARE Index Up 0.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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JAMNA AUTO share price has plunged 6% and is presently trading at Rs 29.

Meanwhile, the BSE 500 Index is at 11,596 (up 0.3%).

Among the top losers in the BSE 500 Index today are JAMNA AUTO (down 5.9%) and BAJAJ FINANCE (down 6.0%).

MMTC LTD (up 13.1%) and SHRIRAM TRANSPORT (up 11.3%) are among the top gainers today.

Over the last one year, JAMNA AUTO has moved down from Rs 59 to Rs 29, registering a loss of Rs 30 (down 51.2%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 312.0%), ABBOTT INDIA (up 91.3%) and NAVIN FLUORINE (up 82.1%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (up 0.3%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.7%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 1.4%). AXIS BANK (up 11.5%) and COAL INDIA (up 6.7%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.46%).

This article (JAMNA AUTO Plunges by 6%; BSE 500 Index Up 0.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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PI INDUSTRIES share price has plunged 5% and is presently trading at Rs 1,176.

Meanwhile, the BSE 500 Index is at 11,596 (up 0.2%).

Among the top losers in the BSE 500 Index today are PI INDUSTRIES (down 5.1%) and BAJAJ FINANCE (down 6.3%).

MMTC LTD (up 13.1%) and SHRIRAM TRANSPORT (up 11.0%) are among the top gainers today.

Over the last one year, PI INDUSTRIES has moved up from Rs 1,030 to Rs 1,176, registering a gain of Rs 146 (up 14.2%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 312.0%), ABBOTT INDIA (up 92.7%) and NAVIN FLUORINE (up 83.3%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (up 0.2%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.4%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 1.1%). AXIS BANK (up 10.6%) and COAL INDIA (up 6.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.53%).

PI INDUSTRIES Financial Update...

PI INDUSTRIES net profit stood at Rs 1 billion for the quarter ended December 2019, compared to a profit of Rs 1 billion a year ago. Net Sales rose 20.1% to Rs 8.5 billion during the period as against Rs 7.1 billion in October-December 2018.

For the year ended March 2019, PI INDUSTRIES reported 11.6% increase in net profit to Rs 4.1 billion compared to net profit of Rs 3.7 billion during FY18.

Revenue of the company grew 23.1% to Rs 28 billion during FY19.

The current Price to earnings ratio of PI INDUSTRIES, based on rolling 12 month earnings, stands at 31.8x.

This article (PI INDUSTRIES Plunges by 5%; BSE 500 Index Up 0.2%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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MINDA INDUSTRIES share price has plunged 7% and is presently trading at Rs 272.

Meanwhile, the BSE 500 Index is at 11,596 (up 0.2%).

Among the top losers in the BSE 500 Index today are MINDA INDUSTRIES (down 6.8%) and BAJAJ FINANCE (down 6.3%).

MMTC LTD (up 13.1%) and SHRIRAM TRANSPORT (up 11.0%) are among the top gainers today.

Over the last one year, MINDA INDUSTRIES has moved down from Rs 341 to Rs 272, registering a loss of Rs 69 (down 20.3%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 312.0%), ABBOTT INDIA (up 92.7%) and NAVIN FLUORINE (up 83.3%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (up 0.2%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.4%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 1.1%). AXIS BANK (up 10.6%) and COAL INDIA (up 6.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.53%).

This article (MINDA INDUSTRIES Plunges by 7%; BSE 500 Index Up 0.2%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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BLUE STAR share price has plunged 6% and is presently trading at Rs 535.

Meanwhile, the BSE CAPITAL GOODS Index is at 11,827 (down 0.7%).

Among the top losers in the BSE CAPITAL GOODS Index today is BLUE STAR (down 5.5%).

FINOLEX CABLES (up 7.6%) and BHARAT ELECTRONICS (up 7.0%) are among the top gainers today.

Over the last one year, BLUE STAR has moved down from Rs 663 to Rs 535, registering a loss of Rs 128 (down 19.3%)..

The BSE CAPITAL GOODS has moved down from 18,192 to 11,827, loss of 6,365 points (down 35.0%) during the last 12 months.

The top gainers among the BSE CAPITAL GOODS Index stocks during this same period were HONEYWELL AUTOMATION (up 13.3%) and SIEMENS (up 3.8%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.2%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.0%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.8%). AXIS BANK (up 10.3%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.86%).

BLUE STAR Financial Update...

BLUE STAR net profit stood at Rs 195 million for the quarter ended December 2019, compared to a profit of Rs 132 million a year ago. Net Sales rose 12.5% to Rs 12.4 billion during the period as against Rs 11.0 billion in October-December 2018.

For the year ended March 2019, BLUE STAR reported 46.6% increase in net profit to Rs 2.1 billion compared to net profit of Rs 1.4 billion during FY18.

Revenue of the company grew 12.6% to Rs 52 billion during FY19.

The current Price to earnings ratio of BLUE STAR, based on rolling 12 month earnings, stands at 22.4x.

This article (BLUE STAR Plunges by 6%; BSE CAPITAL GOODS Index Down 0.7%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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ADANI POWER share price has plunged 7% and is presently trading at Rs 32.

Meanwhile, the BSE POWER Index is at 1,406 (up 1.6%).

Among the top losers in the BSE POWER Index today are ADANI POWER (down 7.3%) and JSW ENERGY (down 7.0%).

NHPC LTD (up 5.2%) and POWER GRID (up 3.6%) are among the top gainers today.

Over the last one year, ADANI POWER has moved down from Rs 48 to Rs 32, registering a loss of Rs 15 (down 32.2%)..

The BSE POWER has moved down from 2,044 to 1,406, loss of 638 points (down 31.2%) during the last 12 months.

The top gainers among the BSE POWER Index stocks during this same period were TORRENT POWER LTD (up 7.9%) and SIEMENS (up 4.0%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 . The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.7%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.8%). AXIS BANK (up 10.3%) and COAL INDIA (up 5.9%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 21.71%).

ADANI POWER Financial Update...

ADANI POWER net profit declined 40.5% YoY to Rs 7 billion for the quarter ended December 2019, compared to a loss of Rs 12 billion a year ago. Net Sales rose 3.0% to Rs 65.7 billion during the period as against Rs 63.8 billion in October-December 2018.

For the year ended March 2018, ADANI POWER reported 0.3% decrease in net profit to Rs 20.9 billion compared to net profit of Rs 21.0 billion during FY17.

Revenue of the company grew 8.9% to Rs 206 billion during FY18.

The current Price to earnings ratio of ADANI POWER, based on rolling 12 month earnings, stands at down 23.7x.

This article (ADANI POWER Plunges by 7%; BSE POWER Index Up 1.6%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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CERA SANITARY share price has plunged 6% and is presently trading at Rs 2,346.

Meanwhile, the BSE 500 Index is at 11,596 (down 0.3%).

Among the top losers in the BSE 500 Index today are CERA SANITARY (down 6.0%) and BAJAJ FINANCE (down 6.5%).

MMTC LTD (up 11.8%) and DCB BANK (up 10.0%) are among the top gainers today.

Over the last one year, CERA SANITARY has moved down from Rs 2,650 to Rs 2,346, registering a loss of Rs 304 (down 11.5%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 316.0%), ABBOTT INDIA (up 89.4%) and NAVIN FLUORINE (up 80.6%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.4%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.7%). The most traded stocks in the BSE Sensex are SBI and AXIS BANK.

In the meantime, NSE Nifty is at 9,039 (up 0.4%). AXIS BANK (up 10.1%) and COAL INDIA (up 5.2%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.00%).

CERA SANITARY Financial Update...

CERA SANITARY net profit stood at Rs 284 million for the quarter ended December 2019, compared to a profit of Rs 284 million a year ago. Net Sales rose 0.8% to Rs 3.2 billion during the period as against Rs 3.2 billion in October-December 2018.

For the year ended March 2019, CERA SANITARY reported 8.5% increase in net profit to Rs 1.2 billion compared to net profit of Rs 1.1 billion during FY18.

Revenue of the company grew 12.9% to Rs 14 billion during FY19.

The current Price to earnings ratio of CERA SANITARY, based on rolling 12 month earnings, stands at 24.2x.

This article (CERA SANITARY Plunges by 6%; BSE 500 Index Down 0.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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MOTILAL OSWAL share price has plunged 6% and is presently trading at Rs 567.

Meanwhile, the BSE 500 Index is at 11,596 (down 0.7%).

Among the top losers in the BSE 500 Index today are MOTILAL OSWAL (down 6.2%) and BAJAJ FINANCE (down 7.4%).

MMTC LTD (up 13.1%) and DCB BANK (up 10.0%) are among the top gainers today.

Over the last one year, MOTILAL OSWAL has moved down from Rs 599 to Rs 567, registering a loss of Rs 32 (down 5.3%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 314.1%), ABBOTT INDIA (up 89.4%) and NAVIN FLUORINE (up 80.1%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 0.8%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 9.3%). The most traded stocks in the BSE Sensex are SBI and AXIS BANK.

In the meantime, NSE Nifty is at 9,039 (down 0.2%). AXIS BANK (up 9.1%) and COAL INDIA (up 4.8%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.32%).

MOTILAL OSWAL Financial Update...

MOTILAL OSWAL net profit stood at Rs 2 billion for the quarter ended December 2019, compared to a profit of Rs 354 million a year ago. Net Sales declined 1.0% to Rs 6.4 billion during the period as against Rs 6.5 billion in October-December 2018.

For the year ended March 2019, MOTILAL OSWAL reported 53.4% decrease in net profit to Rs 2.9 billion compared to net profit of Rs 6.2 billion during FY18.

Revenue of the company grew 10.5% to Rs 25 billion during FY19.

The current Price to earnings ratio of MOTILAL OSWAL, based on rolling 12 month earnings, stands at 12.5x.

This article (MOTILAL OSWAL Plunges by 6%; BSE 500 Index Down 0.7%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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SBI LIFE INSURANCE share price has plunged 5% and is presently trading at Rs 657.

Meanwhile, the BSE 500 Index is at 11,596 (down 1.7%).

Among the top losers in the BSE 500 Index today are SBI LIFE INSURANCE (down 5.2%) and BAJAJ FINSERV (down 8.9%).

MMTC LTD (up 11.8%) and CAPLIN POINT (up 10.3%) are among the top gainers today.

Over the last one year, SBI LIFE INSURANCE has moved up from Rs 605 to Rs 657, registering a gain of Rs 51 (up 8.5%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 315.8%), ABBOTT INDIA (up 90.2%) and NAVIN FLUORINE (up 79.9%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 1.9%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 6.7%). The most traded stocks in the BSE Sensex are SBI and AXIS BANK.

In the meantime, NSE Nifty is at 9,039 (down 0.9%). AXIS BANK (up 8.5%) and COAL INDIA (up 4.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 23.16%).

This article (SBI LIFE INSURANCE Plunges by 5%; BSE 500 Index Down 1.7%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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BAJAJ FINSERV share price has plunged 8% and is presently trading at Rs 5,660.

Meanwhile, the BSE 500 Index is at 11,596 (down 1.3%).

Among the top losers in the BSE 500 Index today are BAJAJ FINSERV (down 8.0%) and MARUTI SUZUKI (down 6.1%).

MMTC LTD (up 12.7%) and CAPLIN POINT (up 10.3%) are among the top gainers today.

Over the last one year, BAJAJ FINSERV has moved down from Rs 6,984 to Rs 5,660, registering a loss of Rs 1,324 (down 19.0%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 315.8%), ABBOTT INDIA (up 91.6%) and NAVIN FLUORINE (up 80.7%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 1.5%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 7.6%). The most traded stocks in the BSE Sensex are SBI and AXIS BANK.

In the meantime, NSE Nifty is at 9,039 (down 0.9%). AXIS BANK (up 8.5%) and COAL INDIA (up 4.3%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.87%).

BAJAJ FINSERV Financial Update...

BAJAJ FINSERV net profit stood at Rs 20 billion for the quarter ended December 2019, compared to a profit of Rs 14 billion a year ago. Net Sales rose 30.7% to Rs 145.6 billion during the period as against Rs 111.4 billion in October-December 2018.

For the year ended March 2018, BAJAJ FINSERV reported 25.8% increase in net profit to Rs 43.4 billion compared to net profit of Rs 34.5 billion during FY17.

Revenue of the company grew 34.4% to Rs 136 billion during FY18.

The current Price to earnings ratio of BAJAJ FINSERV, based on rolling 12 month earnings, stands at 10.9x.

This article (BAJAJ FINSERV Plunges by 8%; BSE 500 Index Down 1.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

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WESTLIFE DEVELOP. share price has plunged 8% and is presently trading at Rs 324.

Meanwhile, the BSE 500 Index is at 11,596 (down 1.3%).

Among the top losers in the BSE 500 Index today are WESTLIFE DEVELOP. (down 8.0%) and BAJAJ FINSERV (down 8.1%).

MMTC LTD (up 12.2%) and CAPLIN POINT (up 10.3%) are among the top gainers today.

Over the last one year, WESTLIFE DEVELOP. has moved down from Rs 431 to Rs 324, registering a loss of Rs 107 (down 24.9%)..

The BSE 500 has moved down from 15,067 to 11,596, loss of 3,471 points (down 23.0%) during the last 12 months.

The top gainers among the BSE 500 Index stocks during this same period were ADANI GREEN ENERGY (up 315.6%), ABBOTT INDIA (up 91.6%) and NAVIN FLUORINE (up 81.2%).

BREAKING NEWS: Massive Opportunity Triggered as Investing Legends Quit What About the Benchmark Indices?

The BSE Sensex is at 31,126 (down 1.5%). The top gainers among the BSE Sensex stocks today are AXIS BANK (up 7.5%). The most traded stocks in the BSE Sensex are SBI and AXIS BANK.

In the meantime, NSE Nifty is at 9,039 (down 1.2%). AXIS BANK (up 7.1%) and COAL INDIA (up 4.5%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,233 to 31,126, registering a loss of 7,107 points (down 22.87%).

This article (WESTLIFE DEVELOP. Plunges by 8%; BSE 500 Index Down 1.3%) is authored by Equitymaster.Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.

- Prableen Bajpai

China has been the highest contributor to global economic growth for more than a decade. The capitalist market reforms introduced by Deng Xiaoping in 1978 paved the way for its impressive growth journey.

- David Aferiat

Hear a discussion focused on exploring the differences of the risks of investing in financial markets through traditional portfolio manager stock pickers versus the new investment technology tools available such as robo-derived algorithms

- Martin Tillier

As a general rule, when the market is collapsing, the hardest hit stocks, industries and sectors are not the places to look for things to buy.

- MarketInsite

Addressing the Top 5 IR Challenges Amid Coronavirus Pandemic

- MarketInsite

Daily energy market commentary provided by Nasdaq Corporate Solutions Advisory Services' Energy Team.

- MarketInsite

As corporate boards work to navigate companies through this unprecedented time, directors could consider leveraging a board portal and digital governance solutions to keep the lines of communications open as they respond to the virus and prepare for the proxy season.

- Chris Versace

The market rally this week has been fueled by a combination of monetary stimulus and the pending passage of the US fiscal stimulus plans, which goes to a vote in the House later this morning

- Phil Mackintosh

It’s difficult in a market like this to watch your 401k account shrink. To stop the flood of bad news, some have even suggested the markets should close until after the coronavirus uncertainty is over. But is that a good idea?

- MarketInsite

Nasdaq's Bjørn Sibbern on the State of the European Markets

- Martin Tillier

While things may get worse before they get better, they will get better. Logically, if that is true for the underlying cause of the stock market’s collapse, then it should also be true for the market itself.

- Todd Shriber

Choosy dividend investors may just want to choose the WisdomTree U.S. Quality Dividend Growth ETF (DGRW).

- MarketInsite

Daily energy market commentary provided by Nasdaq Corporate Solutions Advisory Services' Energy Team.

- Chris Versace

The markets today are focused primarily on just one thing, this morning's horrifying jobs report which saw a record-breaking 3.28 million new claims, more than double the 1.5 million expected and 4.7x higher than the prior record high.

- Richard Saintvilus

The stock market has done something it has failed to do since February: produce back-to-back positive gains. This, of course, has sparked the obligatory question - have we bottomed?

- Prableen Bajpai

These rough times are an opportunity to buy stocks in companies that are fundamentally strong and are currently a victim of pessimism and near-term challenges.

Round with cobbled surface, 1st image of Public Enemy No. 1The specimen for these images were taken from the throat swab of a woman in Kerala.

Not a rush job: Govt on locking India downIndia's response to COVID-19 has been "pre-emptive, pro-active and graded", the govt said.

Aiyar wants India to fight Covid with cashAiyar says India should drop its fiscal deficit fascination and go all out to help the poor.

The mom who gave India its 1st Covid test kitMinal Dakhave Bhosale developed India's first Covid kit in just six weeks.

Covid Live: US wants to airlift citizens out of India149 new cases, including two deaths, have been reported since Friday; overall positive cases 873: Health Ministry

7 key things to know about coronavirusesIn the past two decades, coronaviruses have produced three deadly global epidemics.

Hike in 3rd party motor cover premium put on holdThis move may well be due to the lockdown in the country due to the coronavirus infection spread and the situation arising from it.

Kanika Kapoor tests +ve for corona for 3rd timeThe singer has also deleted her Instagram post about coronavirus after backlash.

The ugly side of Covid quarantine in IndiaThere are an increasing number of reports of stigmatization against people affected by the virus.

CEOs in awe of woman behind India's 1st testing kitHours before delivering her baby, Minal Dakhave Bhosale had submitted the COVID-19 kits for uation.

"Our stimulus effort makes us look like pygmies compared with the rest of the world."

Keep deploying cash as at every opportunity, says co-founder of Complete Circle Consultants.

That global markets just had a decent week despite all that can make chronicling their progress seem like a callous undertaking.

RBI has just delivered the biggest rate cut, bringing the repo rate to an all-time low of 4.40%. It has also cut the CRR by 100 basis points to unlock Rs 1.37 lakh crore primary liquidity in the banking system and allowed banks and other lending institutions to extend loan repayment schedules and moratorium by three months.

There may not be a better time to buy stocks for long-term investment.

In the Great Depression for example, the United States shed 20% of its jobs over three years.

The one per cent concession in stamp duty announced in the Maharashtra budget on March 6 will start from April 1, officials said on Saturday.

As rabi harvesting likely to pick up in the coming days, the government's agri-research body ICAR on Saturday asked farmers to follow social distancing and safety precaution while handling farm machines and labour in the field.

Emphasizing that the current state-mandated 21-day lockdown may fail to effectively counter the covid-19 outbreak, he said, "I have a terrible feeling that we are going to get to the stage where everybody would have to get infected until we get to herd immunity."

According to the Reuters poll of economists taken March 25-26, India's economy will expand just 4.0% annually on a year ago in the quarter that ends on March 31, the weakest since comparable records began in early 2012. India's informal sector, the backbone of the economy, will be hardest hit as economic activity comes to a standstill.

Prime Minister Narendra Modi on Tuesday announced a countrywide lockdown for three weeks, restricting a population of over 1.3 billion indoors, in an effort to contain the spread of the deadly coronavirus, which has infected over 870 people, including 19 deaths, in India.

The Tech Mahindra culture draws heritage from the core purpose and values that drive the Mahindra Group as a whole. It remains rooted in the business and social ethos that the three Mahindra RISE tenets – accepting no limits, alternative thinking, and driving positive change – instill in every member of the Mahindra family.

With the young discovering old ways to connect and the old connecting with the new, the Covid-19 outbreak has turned some assumptions about technology and the demographics of the Internet on its head.

On Thursday, there was social media outrage after the employee, a senior architect at Infosys, had put a post that promoted spreading the virus. Infosys had said it had begun a probe.

- Suresh KP

RBI Repo Rate Cut in March 2020 – Would you really get Benefited? Today, the RBI Governor, Shaktikanta Das has announced an RBI Repo Rate cut by 0.75% / 75 basis points. RBI has cut the repo rate several months. Huge interest rate cut by 0.75% brings down home loan, auto loans and corporate loans. Who would get benefited from [...]

- Suresh KP

Best Banking Mutual Funds to invest in 2020 in India We are seeing a huge stock market correction now. While there are enormous opportunities to invest in individual stocks, investors are confused whether it is right time to invest in stocks or wait for some more time. Mutual Fund investors are still checking their funds NAVs, which are falling day [...]

- Suresh KP

ITI Large Cap Fund NFO – Should you invest? ITI Large Cap Fund NFO would open for subscription on 26th March, 2020. Midcap and small cap mutual funds are high risk. One of the best ways to invest in mutual funds is, investing in large cap funds. Large cap funds in simple terms invest in large Cap stocks. These funds [...]

- Suresh KP

Should I exit mutual funds in this stock market crash? Stock markets are crashing almost every day. Corona virus is not leaving any space of recovery for any country. You might be investor of stock markets and mutual funds. Due to continuous stock market crash, you might be thinking that should I exit my mutual funds now and re-invest when [...]

- Suresh KP

20+ Small Business Ideas to start in India with Rs 1 Lakh The job might be a great way to earn a good amount of money, but having your own business can be a good idea. However, most of us think that business means, huge investments. We don’t even think that some business ideas can be started with very minimal [...]

- Elearnmarkets

English: Click here to read this article in English. মিউচুয়াল ফান্ডের বিনিয়োগে বাজারগত ঝুঁকি রয়েছে ” আপনি নিশ্চই এই লাইনটির সাথে পরিচিত – কোনো না কোনো সময়ে কোনো একজন ভয়েসভার আর্টিস্টের গলায় এটি শুনে থাকবেন TV তে বিজ্ঞাপনের সময়ে , যা আপনাকে বিনিয়োগকারী হওয়ার আমন্ত্রণ / আহ্বান জানায় | মিউচুয়াল ফান্ডের বিনিয়োগের ক্ষেত্রে বাজারগত ঝুঁকি […]

The post মিউচুয়াল ফান্ডে বিনিয়োগ করার সময় মানুষের করা ১০ টি ভুল appeared first on Elearnmarkets - Financial Market Learning.

- Elearnmarkets

English: Click here to read this article in English. Bengali: এই ব্লগটি এখানে বাংলায় পড়ুন।  जल्दी शुरू करें और नियमित रूप से निवेश करें। भले ही आपकी बचत या निवेश की मात्रा कितनी भी कम क्यों न हो, लेकिन आपको निवेश की प्रक्रिया जल्द से जल्द शुरुआत करने की जरूरत है।  यह प्रक्रिया आपको अपने […]

The post 500 रुपये के साथ निवेश के 5 तरीके appeared first on Elearnmarkets - Financial Market Learning.

- Elearnmarkets

Chart patterns play a crucial role when analyzing the charts for trading. In technical analysis, the transitions in the trends are signaled by these charts patterns. By learning about these chart patterns, you will be able to learn how to profit from these technical price patterns.[more]

The post Top 10 Chart Patterns you should know when Trading in the Stock Market appeared first on Elearnmarkets - Financial Market Learning.

- Elearnmarkets

English: Click here to read this article in English. আপনি কি বিলাসবহুল ভাবে অবসর জীবন চান? আপনি কি বিদেশে ছুটি কাটাতে যেতে চান? আপনি কি অপ্রয়োজনীয় ব্যয়ের কারণে চিন্তিত ও বিরক্ত এবং এটি নিয়ন্ত্রণের রাস্তার সন্ধান করছেন ? ঠিক আছে, তাহলে আপনার সমস্ত প্রশ্নের একটি সমাধান খুঁজতে আপনাকে এই ব্লগটি অবশ্যই  পড়তে হবে| আমাদের সমস্ত […]

The post ব্যক্তিগত অর্থ পরিচালনা করার ৫টি সরল পরামর্শ appeared first on Elearnmarkets - Financial Market Learning.

- Elearnmarkets

English: Click here to read this article in English. आप चार या पाँच बड़े निवेशकों को चुन सकते हैं और उनके कुछ विचारों को अपने मापदंडों के साथ मिलाकर  उनके चुने हुए स्टॉक में से कुछ को चुन सकते हैं और उन व्यवसायों को छोड़ सकते हैं जिन्हें आप नहीं समझते । यह भी महत्वपूर्ण […]

The post क्या आपको बड़े निवेशकों का अनुसरण करना चाहिए? appeared first on Elearnmarkets - Financial Market Learning.

- Tejeswari

Mutual funds types are been divided into 3 categories they are 1. By structure 2.Asset class 3.By Investment objective. 1.By Structure:-  Technical mutual funds are of 4 basic types in a company for the investments. Closed-end funds, exchange-traded funds, and unit investment trusts are the three Close-End fund:-  Close-End funds are a bit similar to the open-End funds in...

The post TYPES OF MUTUAL FUNDS appeared first on Stocks4All.

- Tejeswari

ROLE OF INVESTMENT IN BANKS :- The process of financial and investment world including underwriting new stock issues, handling mergers and acquisitions and acting as a financial advisor for large investment funds and personal wealth management for high-net-worth individuals. Some of the major investment banks include Goldman Sachs JPMorgan Chase and Credit Suisse. Investment Banks...

The post Roles of Investment Banks appeared first on Stocks4All.

- Tejeswari

A certain group of people investing the amount is known as a mutual fund. It is a trust that collects money from the number of investors who share a common investment objective. it invests the money in equities, bonds, money market instruments and/or other securities the first introduction of a mutual fund in India occurred...

The post Mutual Fund appeared first on Stocks4All.

- Tejeswari

Marketing:-The action or business of promoting and selling products or services, including market research and advertising there are actually seven functions of marketing that span everything from distribution to pricing. 1. Finding the Best Distribution Channels:- Distribution of the products  are to get the goods or services that you want to sell to the people...

The post Marketing Functions appeared first on Stocks4All.

- Mahesh

LIC Chairman MR Kumar about LIC IPO: Has the work started on making LIC IPO (initial public office)?  LIC Chairman MR Kumar: Not really, we have to start the work a lot of things need to do maybe in the next couple of months. We will be doing a lot of work on LIC IPO....

The post LIC Chairman MR Kumar about LIC IPO appeared first on Stocks4All.

- Mahesh

Grasim Q3 Results: Profit decreases by 69.6% YoY to Rs 185 crore: Grasim Q3 Results: Aditya Birla Group company Grasim Industries Limited is a textile manufacturing company located in Mumbai. The company on Monday posted a 69.6% downfall of their consolidated profit of Rs 185 crore for this quarter ended in December. Whereas the consolidated...

The post Grasim Q3 Results: Profit decreases by 69.6% YoY to Rs 185 crore appeared first on Stocks4All.

- Mahesh

IOB Q3 results: Reported a loss of Rs 6,075 crore as provisions IOB Q3 results: Indian Overseas Bank is a public sector bank located in Chennai, almost 3,400 domestic branches, about 6 foreign branches. The IOB on Monday posted a consolidated net loss of Rs 6,075.49 crore for the quarter ended in December. However, the...

The post IOB Q3 results: Reported a loss of Rs 6,075 crore as provisions appeared first on Stocks4All.

- Mahesh

M&M share price drop to 6%: Top loser of today’s Sensex, Nifty: M&M share price: Mahindra & Mahindra Ltd is a multinational car manufacturing company located in Mumbai. The company reported a 6% downfall of their share price almost top losing in “Sensex” as well as “Nifty“. After the automaker company reported a 73% decrease...

The post M&M share price drop to 6%: Top loser of today’s Sensex, Nifty appeared first on Stocks4All.

- Mahesh

Sun Pharma Q3 Results: Profit Increases to Rs 914 crore with 26%: Sun Pharma Q3 Results: Sun pharma is a multinational pharmaceutical company in Mumbai. It manufactures and sells medicines in India and Us. On Thursday, the company reported a 26.43% fall in YoY to the consolidated net profit of Rs 913.52 crore against the...

The post Sun Pharma Q3 Results: Profit Increases to Rs 914 crore with 26% appeared first on Stocks4All.

- Mahesh

YES Bank share price increase 5.16% to Rs 40.70 crore: YES Bank share price: Yes Bank Limited is an Indian private sector bank. The share price of Yes Bank on Monday increases to 5.16% of Rs 40.70 crore compared to the last year of Rs 38.70 on the Bombay Stock Exchange. The private sector lender...

The post YES Bank share price increase 5.16% to Rs 40.70 crore: Stock appeared first on Stocks4All.

- Jharna Majee

It is quite difficult to find out the solution when an individual can start investing in the stock market i.e. what is the right time to invest in a mutual fund or direct equity. We will try to tell here about some conditions or aspects of the stock market. Whenever […]

The post What is the right time to invest in stock market? appeared first on Capitalante.com.

- Jharna Majee

Many people get in confusion where and how to invest their hard earned money. There are many options of the large basket like gold, debt securities, bonds, equity etc. Before investment in the stock market, you should consider your purpose, risk appetite, and time horizon. The stock market will yield […]

The post How to Invest in the Stock Market appeared first on Capitalante.com.

- Jharna Majee

Historically, the equity asset class has outperformed all other asset class i.e., debt, gold, bond, etc. in the long run. So, it is quite clear that you can invest in stocks via either direct equity by opening a Demat account or mutual fund. Both the investment strategies enable an investor […]

The post How to make money in the stock market appeared first on Capitalante.com.

- Jharna Majee

It is a proven fact that the equity asset class gives better returns over all asset classes for a period of 15-20 years. In the year November 1995, the benchmark index Nifty 50 was trading at Rs. 1000/-, now in March 2019 Nifty 50 is trading around Rs. 11000/-. Since […]

The post How to buy stocks in India for Beginners appeared first on Capitalante.com.

- Jharna Majee

Almost everyone has a hobby of his own. This hobby can be transformed into an occupation. If you have knowledge about anything you can share that information via blogging. So you can create a blog or website. I had a passion for the stock market, investment, personal finance. So, I […]

The post Top 20 “Legit Proven” Ways to Make Money Blogging appeared first on Capitalante.com.

- Jharna Majee

Before writing this blog post I have spent many unsleeping nights deciding which blogging tools and resources may be useful to benefit millions of bloggers all around the globe. After constant efforts and perseverance, I have created this broad guide on the top 75+ blogging tools and resources that can […]

The post Top 75+ Blogging Tools and Resources appeared first on Capitalante.com.

- Jharna Majee

YouTube is a modern platform to earn money. It is almost similar to Google. We will not discuss what YouTube is all about. We will discuss how you or anyone can earn money from YouTube. YouTube is just like a search engine like Google which shows only video results. YouTube […]

The post 6 ‘Legit Proven’ Ways to Earn Money From YouTube appeared first on Capitalante.com.

- Jharna Majee

The lifespan of people has increased due to financial development, medical advancement, health consciousness. The average lifespan is now 75-80 years according to the latest survey report. So, you need to make proper financial planning to lead a happy retirement life without financial woes and tension. In order to make […]

The post 10-step Process to Prepare an Effective Financial Planning appeared first on Capitalante.com.

- Jharna Majee

With the increasing financial literacy, people are showing interest to take early retirement before they attain the age of 60. Many people want to lead a leisure life after 50, especially the jobholders. Why early retirement? The answers may be many. It is the temptation of leisure life that attracts […]

The post How to retire early at 55 in India appeared first on Capitalante.com.

- Jharna Majee

There are many forms of gambling and sometimes investment in the stock market becomes an act of gambling. The stock market is such an asset class that covers some risk. Some people act foolishly at the time of investing in the stock market. Then in very rare cases, they gain. […]

The post 6 Signs that You are Gambling in Stocks appeared first on Capitalante.com.

The best financial advisors will choose to stay connected with their clients throughout the coronavirus crisis and be creative in evolving their services on a human level. Keep adding to your market volatility playbook — this isn't the first time we've encountered turbulence in the markets, and it won't be the last.

The CFP Board, which oversees standards for 86,000 certified financial planners in the U.S., removed the ability for consumers to search for an advisor based on how they're paid.

When it comes to protecting consumers' money, many in the financial industry are in one of two camps: those in favor of a 'fiduciary rule' or those who back a 'best interest' regulation. Now, some states are poised to wade into the fight by adopting a best interest standard for annuities sales.

Developing a niche, like working with millennial clients or widows, will become more imperative if financial advisors are to compete successfully.

Cryptocurrency isn't a fad. That's according to experts at the TD Ameritrade LINC conference in Orlando, Florida. If investors want to dip a toe into bitcoin, they should aim for this allocation. They should just make sure they know the risks first.

While certain investors might share some commonalities, they also bring a variety of circumstances and financial individuality to the table that some advisors sort through before handing over investment advice.

Financial advisors who made CNBC's FA 100 list of leading firms for 2019 share what their outlook is on factors influencing markets and investors in the new year, from domestic politics to global trade and corporate earnings.

As 40% of advisors plan to retire within the next 10 years, young financial advisors can help fill the gap. Here's how established advisory practices are integrating younger generations into their teams.

With the average couple shelling out an estimated $285,000 for medical expenses after age 65, some advisors are looking closely at how their clients should best spend their health-care dollars.

Just because you're approaching retirement doesn't mean you have to shy away from stocks. Financial advisors discuss why it may make sense for investors to step up their equity allocation — particularly if they can count on pension income.

Turning 65 is a big milestone in retirement due to Medicare eligibility. But if clients don't get their enrollment decision right, they could face costly penalties or higher medical expenses. Here's what advisors need to keep in mind — and what they need to think about if they want to loop in third-party expertise.

Investors aren't the only ones watching Charles Schwab's acquisition of TD Ameritrade. Registered investment advisors also want to know what this smaller field of custodians means for their firms and the clients they serve.

Insurance is an essential part of a comprehensive financial plan, but fee-only advisors have blanched at using commission-based products to solve a problem. Here's how to curtail those conflicts of interest.

The custody arena for registered investment advisors is about to get a lot smaller if Charles Schwab acquires TD Ameritrade. Here's what that might mean for services for financial advisors and their clients.

Today's advisory firms face numerous cybersecurity risks, from phishing to ransomware to email viruses, to name a few. And the one way that firms can tell if they're ready to face these risks, as well as regulators' requirements, is to put them to the test.

Regulation Best Interest (Reg BI), the new rules passed by the SEC in September, may have raised the standard of care required of brokers making investment recommendations to their clients, but it didn't clear up the confusion about the differences between registered investment advisors and brokers.

The registered investment advisor industry has attracted the attention of private equity investors, thanks to good growth, high profit margins, consistent cash flow and low capital needs.

Financial advisors are turning to a variety of options to help clients prepare for the potential cost of help with daily activities like eating and dressing — otherwise known as long-term care.

While institutional investors have pulled more than $3 billion from the Camas, Washington-based firm in the wake of Ken Fisher's comments, retail clients have had a more muted reaction. Here's why individual investors may be slow to divest.

There may be no free lunch in the financial services industry, but there is now free trading of stocks, exchange-traded funds and options as custodians eliminate commissions for retail and financial advisor clients.

Mistakes happen. CNBC asked advisors from firms that made the FA 100 list what the worst money misstep they've ever seen a client or other investor make was.

Financial advisors need money tips, too. In fact, sometimes a salient piece of advice led them into the industry. We asked advisors from firms that made the FA 100 list for 2019 for the best money and investing advice tips they ever received.

With the average age of financial advisors in their mid-50s and many now in their 60s and 70s, the fate of thousands of practices remains in doubt. Studies continue to show that most small advisors — particularly solo practitioners — have no successor to fill their shoes.

The Employees Retirement System of Texas on Friday announced it would divest $350 million from Fisher Investments. In the last two weeks the firm has lost $3 billion as pensions and firms exit, following controversial comments Ken Fisher made at a conference.

The Los Angeles Fire and Police Pension System voted on Oct. 24 to end its $522 million relationship with Fisher Investments. In all, institutional investors have pulled $2.5 billion from the firm in the weeks following Ken Fisher's lewd comments at conference.

Dow -4.06%, S&P 500 -3.37%, Nasdaq -3.79%

Hedging via call and put options, widening the portfolio ambit may fetch better returns

ICICI Securities CMP: ₹83.05Target: ₹165NTPC is engaged in the generation and sale of electricity. The principal business activity of the Company is t

CD Equisearch CMP: ₹801.45Target: ₹832Accentuated by the increasing demand for ATBS (antimicrobial drugs), Vinati Organics’ market share increased to

The Sensex’s swing between high and low points of the day was more than 1,700 points

In such a global crisis, policy makers need to make impossible decisions, and do so fast. One such is the three-week complete lockdown of the countr

Rising demand for personal hygiene products has brightened the prospects for India’s largest consumer company.Hindustan Unilever Ltd. has emerged as t

Taking cues from the positive global markets, the domestic equity indices- the Sensex and the Nifty started the session with a gap-up open. The key US

Interest-rate sensitive bank, realty and auto shares on Friday gained up to 12.40 per cent after the Reserve Bank of India (RBI) cut benchmark intere

  The Gem and Jewellery Export Promotion Council has carved out ₹50 crore from its reserves to support workers of the industry and people affected by

All the three major commodity exchanges — Multi Commidity Exchange (MCX), National Commodity and Derivatives Exchange (NDCEX) and Indian Commodity Exc

Akhil Nallamuthu The price of zinc has been in a downtrend for the past two months. On the back of it, the April futures contract of Zinc Mini on the

All the three major commodity exchanges ― Multi Commidity Exchange (MCX), National Commodity and Derivatives Exchange (NDCEX) and Indian Commodity Ex

Oil prices were mixed on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and loc

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The Indian rupee appreciated by 81 paise to 74.35 against the US dollar in intra-day trade on Friday, after the Reserve Bank announced various meas

BL Research BureauThe rupee (INR) has opened with a gain today against the dollar (USD), at 74.48 versus its previous close of 75.15. The local curren

The stock of Gujarat Gas jumped 10 per cent on Thursday, breaking above a key immediate resistance at ₹222. This rally provides investors with a short