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Market Updates - Angel One

DHFL Trading Ban: What’s the Cause Behind this Suspension?

14 June 2021

It was in November 2019 when the Reserve Bank of India raised the red flag against the NBFC  Dewan Housing Finance Limited (DHFL) after the mortgage lender failed to meet a number of payment obligations. India’s banking regulator also raised a number of governance concerns within DHFL, superseded its board of directors and initiated insolvency …

As India unlocks, D-Street expects to get further boost

14 June 2021

On June 11, Friday, the benchmark index, Sensex touched 52,641.53 points, a record intraday peak, before settling at 52,474 at closing. The Nifty also closed a tad under 15.8 k levels. Foreign portfolio investors (FPIs) were net buyers, investing Rs 18.64 crore on June 11, while domestic institutional investors (DIIs) also bought shares worth Rs …

Adani stock drops after NSDL freezes the accounts of 3 FPIs

14 June 2021

An Overview of Recent Events The accounts of three foreign funds — Albula Investment Fund, Cresta Fund, and APMS Investment Fund — have been frozen by the National Securities Depository Ltd (NSDL), which together possess approximately Rs. 43,500 crores in shares in four Adani Group companies. According to the depository’s website, these accounts were frozen …

BSE has reached a historic milestone with 70 million registered users

11 June 2021

An Overview In the midst of the second wave of pandemic, the leading stock exchange – BSE reached a milestone of seven crore registered users based on Unique Client Code (UCC) on Monday. The BSE said in a statement that the transition from 6 crore to 7 crore users took only 139 days, compared to …

What to Expect from the RBI’s Monetary Policy?

4 June 2021

An Overview On Friday, the RBI’s six-member Monetary Policy Committee is expected to keep the policy rate unchanged and retain its accommodative posture. While the policy stance is likely to remain growth-oriented, after the economy contracted by 7.3 percent in FY21, the lowest in four decades, all eyes will be on the RBI for any …

Overseas Investment Limit Increased to USD 1 Billion

4 June 2021

Overview The Securities and Exchange Board of India (or SEBI) has permitted fund houses to increase the value of investments they make per mutual fund via overseas exchange-traded funds. This means that fund houses are now capable of investing USD 300 million per mutual fund, which exceeds the current limit of USD 200 million. The …

Brent crude touches two-year high, signals rise in fuel demand

3 June 2021

Oil prices shot up to two-year peaks on June 1, as Brent crude traded a little over $70 per barrel. The last time prices breached the $70 mark was in March when Brent inched over $71 for a brief while. Oil futures too traded at this level last in 2019, much before the Covid-19 pandemic …

RIL in a strong financial position to sustain Jio, retail and O2C

3 June 2021

An Overview of RIL’s Annual Report Reliance Industries said it had applied for the use of niclosamide as a potential medicine to treat pandemic virus and created a cost-effective diagnostic kit to detect the disease, among other pandemic-fighting measures. RIL stated Jio Platforms has partnered with US chipmaker Qualcomm for local manufacturing of 5G equipment …

ITC Quarter 4 Results: Net profit dips but company will pay dividend

3 June 2021

An Overview of ITC Q4 Results The March quarter results of cigarette producer ITC Ltd were in line with Dalal Street projections. However, this has certainly not piqued the interest of investors. Following the results, its stock dropped roughly 3% on the National Stock Exchange, on a day when the benchmark Nifty 50 index remained …

PSBs likely to raise Rs 9,000 crore through QIPs next quarter

1 June 2021

Public sector banks (PSBs) are likely to launch qualified institutional placement offerings (QIPs) to the tune of Rs 8,500 to Rs 9,000 crore in the coming quarter, news reports suggest. Indian Bank, Canara Bank and Bank of Maharashtra are some of the PSBs that are planning to launch QIPs in the July to September period. …

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