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The share touched its 52-week high Rs 13.25 and 52-week low Rs 9.05 on 01 January 2019 and 08 October 2018, respectively. Shares of United Bank of India declined nearly 3 per cent in the early trade on September 5 after the bank decided not to discuss amalgamation with Punjab National Bank (PNB) on September 6 board meeting. The board of directors of the company will not be deliberating on the said amalgamation with PNB in the meeting to be held on September 6, 2019. The board will discuss the matter on a later date, the intimation of which shall be given to the exchanges in due course, it added. At 0931 hrs, United Bank of India was quoting at Rs 9.90, down Rs 0.26, or 2.56 per cent on the BSE. The share touched its 52-week high of Rs 13.25 and its 52-week low of Rs 9.05 on 1 January 2019 and 8 October 2018, respectively. Currently, it is trading 25.51 per cent below its 52-week high and 9.06 per cent above its 52-week low. Best Share Market New...

A rose by any other name would smell just as sweet, goes the Shakespearean saying.  Likewise, if the value of a stock is the sum of the present value of its future cash flows, how should it matter to investors whether the equity shares they purchase are called ordinary shares or shares with differential voting rights (DVRs). But apparently, in the case of Tata Motors Ltd, it matters a lot. The company’s ordinary shares now trade at a record premium of about 120% over its DVRs. The ordinary shares, which trade at ₹109.50 apiece, offer one vote for every share held in the company, and the DVRs, which trade at ₹49.95 apiece, offer one vote for every 10 shares held. Researchers such as Aswath Damodaran of New York University say that the difference between voting and non-voting shares is almost entirely explained by the value attached to the possibility of a change in the company’s management or ownership. In a paper that sought to assess the economic value of v...

Oil prices recovered some ground on Wednesday after touching their lowest in close to a month during the previous session on concerns that a weakening global economy could depress demand. Brent crude was up 12 cents, or 0.21%, at $58.38 a barrel by 0425 GMT, while U.S. West Texas Intermediate futures gained 20 cents, or 0.37%, at $54.14 a the barrel. Oil prices sunk to a nearly one-month low on Tuesday following data that showed U.S. manufacturing activity in August contracted for the first time in three years and eurozone manufacturing activity contracted for a seventh month in August. But global markets bounced on Wednesday after a private survey showed that activity in China's services sector expanded at the fastest pace in three months in August as new orders rose, prompting the biggest increase in hiring in over a year. China is the world's second-largest oil consumer and the largest importer. "Given the tumble that we saw overnight it'...

Reduction in the cost of borrowing and improved income opportunities will boost revenues and can increase the bottom line of the new entities. In the latest episode of the mini-budget press meet series, Finance Minister Nirmala Sitharaman announced another major measure towards making India a $5-trillion economy. To create global sized banks, the merger of 10 public-sector banks (PSBs) into four entities was announced so that the struggling sector is streamlined, revived and rejuvenated. From a global perspective, we don’t have a single bank among the Top 20. For example, five biggest banks of China, which find a place in the Top 20 list, have contributed to growth in all major sectors. Lower funding costs and technological scalability of large banks assure that banking services are accessible to the last person. Post mergers, more than 80 percent of the PSB business will be with 12 banks that will ensure they have a strong business book with an all-India presence...

Especially with the weekly expiries now available for trading, deploy a butterfly strategy with a center strike at the expected and empirically proven upper bound or lower bound. Tough times in the market often keep the traders on the fence. The riskiness, especially in Option Trade, is two dimensional with an unfavourable directional move or no move hitting hard. While there are standard strategies defined in the books for dealing with no move or directional move in isolation, none of them deals with both of them simultaneously. Let us examine both these issues and figure out how a modified butterfly turns out to be a cheaper alternative to this peculiar situation. Now, consider a situation where the indices have made at least two similar and proximal highs and lows, giving us an indication that there is a range that the indices might get stuck into. In such a situation, the next round of upward or downward gyration is expected to be played with. For this, a ...

The rollover in Nifty for September series stood at 68.76 percent, which was below its quarterly average of 75.34 percent. The August series started with good amount of short rollovers in many stocks and the impact of the same was visible from the start of the series. The benchmark indices continued their selling streak of July series and started correcting from initial days of the August series. The fall was very sharp with Nifty breaching its psychological level of 11,000 and registering a new 6-month low of 10,637. However, due to some recovery in the concluded week, the Nifty trimmed-off some of its intra-month losses and eventually ended the August series with a loss of 2.70 percent over its July expiry close. The fall of last month was supported by good amount of short positions, but most of these positions was not rolled to September series as the open interest (OI) remained flat on a month-on-month basis. The rollover in Nifty for September ser...

A Reuters report has said that Hindalco Industries-owned Novelis has agreed to sell its Aleris’ Belgian plant. Shares of Hindalco Industries jumped almost 4 percent on August 30 after media reports said that the company-owned Novelis was set to secure European Union (EU) antitrust approval for its $2.6-billion bid for Aleris. Novelis, which is US-based but owned by India’s Hindalco Industries, agreed to sell Aleris’ Belgian plant to address the European Commission's worries that the deal could reduce competition and lead to higher prices, hitting carmakers, in particular, news agency Reuters quoted sources as saying. Novelis, a world leader in aluminum rolled products and aluminum recycling, is seeking to diversify into aerospace, automotive, beverage can and construction industries. For the June quarter, Hindalco Industries reported a 29 percent year-on-year fall in consolidated profit. Novelis adjusted EBITDA (as per US GAAP) increased 11 percent year-...

GSTN is a non‐profit organization for facilitating the collection of Goods & Services Tax (GST). The share price of HDFC Bank rose more than 1 percent intraday on August 30 as the company plans to sell its entire stake in software company Goods & Services Tax Network. The company has agreed to sell its entire stake of 10 percent in the equity share capital of Goods & Services Tax Network (GSTN) consisting of 10,00,000 equity shares of Rs 10 each, for a total consideration of Rs 1 crore to various State Governments and Union Territories, as per a company release. The bank’s promoter Housing Development Finance Corporation (HDFC) is also a shareholder in GSTN. GSTN is a non‐profit organization for facilitating the collection of Goods & Services Tax (GST). At 0939 hrs, HDFC Bank was quoting at Rs 2,253.50, up to Rs 25.90, or 1.16 percent on the BSE. Best Share Market News, Click Here To Get More News -  Share Market Tips, Stock Mar...

Market regulator does not want them to be ‘passive participants’ SEBI Chairman Ajay Tyagi and his team of officials that oversees mutual funds led by one of his four main lieutenants, Madhabi Puri Buch, may be finding themselves in a Catch-22 situation these past few months. It takes quite a balancing act figuring out the extent to which to regulate, when to intervene and how much to let go, while keeping an eagle’s eye on the goings-on in the debt mutual fund (MF) industry. The Indian MF industry has been rocked by the credit crisis in the non-banking finance sector where some debt funds have been caught holding instruments that have either delayed interest and/or principal payments and have seen their credit ratings fall. The excess risk that many credit risk funds have been taking these past years — and a few other debt schemes too joined the party to earn the extra buck — came to haunt the MF industry as many such funds saw their net asset value (NAV) fall. ...

A breakout on either side of the band will give a clear indication of the further trend. The Nifty witnessed a V-shaped reversal rally but the gains were capped at 11,150 levels on August 28. On the lower side, as per the change of polarity principle, the short-term moving average -- 20-day EMA -- for the index is currently working as a key reversal point. Last hour buying on August 28 pushed the price above its important physiological mark of 11,000, which has squeezed the body of the candle with a slightly longer wick on its lower side. The level of 11,150 is further supported by the Fibonacci ratio on the daily interval for the benchmark index. Currently, the Nifty pack is trading between its 50 (11,200) and 100-EMA (10,800) band on the weekly timeline. On the Options front, maximum Put open interest (OI) is placed at 11,000 strike. The maximum change in Call OI is seen at 11,100, followed by 11,200 strikes. The next immediate support for the Nifty ...

Public sector banks Punjab National Bank (PNB) and Allahabad Bank on Tuesday launched retail loan products that are linked to the Reserve Bank of India’s (RBI) repo rate. Linking of loans with the repo rate will make them cheaper. Under the Punjab National Bank’s PNB Advantage scheme, effective from 27 August, the interest rate will be 0.25% less than the existing rates based on MCLR (marginal cost of funds-based lending rate). “The new rates will vary from 8.25% to 8.35% for housing loan borrowers and 8.65% for car loan borrowers," PNB said in a statement. PNB’s existing customers can also apply for new RLLR (repo linked lending rates) with minimal charges. Allahabad Bank Allahabad Bank has benchmarked its loans up to Rs75 lakh with the EBLR (external benchmark linked rate) with repo rate one of its constituents. The bank has priced its home loans up to Rs75 lakh and mudra loans sanctioned with effect from 1 September 2019 with reference to EBLR. ...

The Dow Jones Industrial Average fell 124.66 points, or 0.48%, to 25,774.17, the S&P 500 lost 9.53 points, or 0.33%, to 2,868.85, and the Nasdaq Composite dropped 26.79 points, or 0.34%, to 7,826.95. Wall Street slipped on Tuesday, weighed down by financial stocks as a deepening of the Treasury yield curve inversion raised US recession worries and uncertainty over any progress in trade negotiations between the United States and China took a toll. US stocks initially advanced, building on Monday’s bounce, as President Donald Trump forecast another round of talks with Beijing. China’s foreign ministry, however, reiterated on Tuesday that it had not received any recent US telephone call on trade. A deepening of the inversion in the yield curve between the 2-year and 10-year US Treasuries underscored worries about a weakening global economy. “It is going to be pretty confusing and unfortunately, without some kind of a major backpedaling on trade, to maybe slow...

Buying Berger Paints with a stop loss of Rs 362 and a target of Rs 380 and Petronet LNG with a stop loss of Rs 251 and a target of Rs 275. The market gained for the third consecutive session with the Nifty closing above 11,100 levels on August 27, driven by banking & financials, auto, FMCG and metal stocks. Positive global cues and RBI's decision to transfer Rs 1.76 lakh crore to the government, aided sentiment. The BSE Sensex climbed 147.15 points to 37,641.27 while the Nifty 50 rose 47.50 points to 11,105.40 and formed a Doji kind of candle on the daily charts, which generally signals indecisiveness among the bulls and bears. The gains in broader markets were higher than benchmarks as the Nifty Midcap rose 0.74 percent and Smallcap index was up 1.8 percent. According to the pivot charts, key support level is placed at 11,055.93, followed by 11,006.57. If the index starts moving upward, key resistance levels to watch out for are 11,148.23 and 11,191...