After some profit booking near about 1:30 PM, markets remain to be moving in a downward direction. Heavy selling was seen. Its the final round and the Bears are leaving no chance to knock the Bulls out. At the time of writing, Sensex stands to its lowest point in the day down by 521 points at 37801.
It looks like it is better to pack your positions and wait for the next morning sunshine.
Shares of Tata Motors took a beating for a second subsequent day today. It has been among the worst losers. However, is it a value buy? Looking at its new launches and growing order book, the financials look attractive on the valuation side. Fundamentally, the stock falls in the buy bucket, probably, it will arouse confidence on some up moves in the coming days. Trading at Rs 184.85 down 3.19% for the day.
Net NPA at Rs 152 Cr while its share price soared up 6.12% to Rs 20.90 a piece. It also posted a better Net interest margin, which improved by 1.5%.
MD and CEO of Zee Entertainment, Puneet Goenka mentioned to a leading business news channel that no pledged shares were sold yesterday in the market. Considering 2 non-binding termsheets for the company’s future. The shares of Zee were trading down 4.21% at Rs 353.60 per share. Stake sale to be complete within 6-8 weeks.
As against the perception of fear filled days ahead, markets seem to making moves to move towards the dotted lines. The attempt may not be strong and bears may know it down, however, the attempt is worth the appreciation.
Has the panic situation settled and investors looking to take positions? Can’t say yet, it is time to wait and watch.
Investors asked us to pay up to 25 pc of cash reserves claims BSE’s MD Ashish Chauhan.
Vodafone Idea shares take a hit due to the rights issue flowing in the market today. Shares were trading down 9.29% at Rs 14.15 per share.
Neogen Chemicals shares jump nearly 17% on exchange listing.
