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Oct 13, 2017 07:46 AM IST IST | Source: Moneycontrol.com
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highlights
The initial shareholding pattern for September quarter showed that celebrated investors such as Rakesh Jhunjhunwala, Anil Kumar Goel, Dolly Khanna and Ashish Kacholia made a few changes to their portfolios, reports The Economic Times. Big Bull Rakesh Jhunjunwala increased his stake in Prakash Industries to 1.64% at the end of the September quarter, from 1.01% at the end of the June quarter. Jhunjhunwala's stake in Rallis India and NCC remained unchanged in September.
Anil Kumar Goel cut his stake in Amarjothi Spinning Mills to 2.96% in the September quarter from 4.65% stake in the June quarter. He largely maintained his stake in a dozen of companies including Dwarikesh Sugar, GRP, Indsil Hydro, L G Balakrishnan, Panama Petrochem, TCPL Packaging and Technocraf Industries.
Dolly Khanna raised her stake in Dwarikesh Sugar Industries to 1.59% (30,02,375 shares) from 1.49% (2,81,029 shares) in June quarter. She raised her stake in Rain Industries to 2.04% in the September quarter from 1.27% at the end of June quarter. Famed investor Ashish Kacholia has not tinkered with his holding in SP Apparels and GHCL, but increased stake in APL Apollo to 2.44% (5,74,587 shares) in Q2 from 2.33% (5,49,587 shares in Q1).
The initial shareholding pattern for September quarter showed that celebrated investors such as Rakesh Jhunjhunwala, Anil Kumar Goel, Dolly Khanna and Ashish Kacholia made a few changes to their portfolios, reports The Economic Times. Big Bull Rakesh Jhunjunwala increased his stake in Prakash Industries to 1.64% at the end of the September quarter, from 1.01% at the end of the June quarter. Jhunjhunwala's stake in Rallis India and NCC remained unchanged in September.
Anil Kumar Goel cut his stake in Amarjothi Spinning Mills to 2.96% in the September quarter from 4.65% stake in the June quarter. He largely maintained his stake in a dozen of companies including Dwarikesh Sugar, GRP, Indsil Hydro, L G Balakrishnan, Panama Petrochem, TCPL Packaging and Technocraf Industries.
Dolly Khanna raised her stake in Dwarikesh Sugar Industries to 1.59% (30,02,375 shares) from 1.49% (2,81,029 shares) in June quarter. She raised her stake in Rain Industries to 2.04% in the September quarter from 1.27% at the end of June quarter. Famed investor Ashish Kacholia has not tinkered with his holding in SP Apparels and GHCL, but increased stake in APL Apollo to 2.44% (5,74,587 shares) in Q2 from 2.33% (5,49,587 shares in Q1).
Bitcoin smashed through the $5,000 barrier for the first time on Thursday, jumping as much as 8% on the day as investors shrugged off the latest warnings on the risks of buying into the booming cryptocurrency market. It surpassed its previous record set about a month ago. In the intervening weeks, Bitcoin plummeted due to a Chinese government crackdown, but operators have fled to Japan, which gave licenses to 11 new bitcoin exchanges.
European Union's Chief Negotiator Michel Barnier says negotiations with the United Kingdom on Brexit are stuck in a state of deadlock, reports CNBC-TV18. The EU wants to know what divorce bill Britain is prepared to pay before talks go any further. On the other hand, British officials want to begin trade talks now, before they commit billions. With signs that nerves are fraying on both sides as less than 18 months remains before the deadline for Britain to leave the EU, some hard-line Brexit supporters want Prime Minister Theresa May to just walk out of talks. Both negotiators have repeated that they were ready for any eventuality including a collapse.
Majority of European markets ended the day with small gains as investors digested the latest news surrounding Brexit. Investors are keeping a watchful eye on the International Monetary Fund's annual meeting in Washington DC, where European Central Bank President Mario Draghi and other ECB members are due to deliver speeches.
President Donald Trump will lay out a more confrontational strategy toward Iran by the United States on Friday in a speech in which he is likely to strike a blow at an international Iran nuclear deal, complicating US relations with European allies, reports Reuters. US officials said Trump was expected to announce that he will not certify the 2015 Iran nuclear deal, believing the agreement is not in the national interests of the United States. He had certified it twice before but aides said he was reluctant to do so a third time.
President Donald Trump on Thursday signed an order to make it easier for Americans to buy bare-bones health insurance plans, using his presidential powers to undermine Obamacare after fellow Republicans in Congress failed to repeal the 2010 law, reports Reuters. Trump issued the executive order aimed at letting small businesses band together across state lines to buy cheaper, less regulated health plans for their employees with fewer benefits. Such new insurance options, however, may not be available until 2019, and the order could face legal challenges from Democratic state attorneys general.
Applications for unemployment benefits in the US dropped to a more than one-month low last week as the boost to claims in Texas and Florida from Hurricanes Harvey and Irma continued to unwind, reports Reuters. The Labour Department said initial claims for state unemployment benefits decreased 15,000 to a seasonally adjusted 243,000 for the week ended October 7, the lowest level since late August. Claims have been declining since surging to an almost three-year high of 298,000 at the start of September as workers displaced by the hurricanes were left temporarily unemployed.
US producer prices rose in September as the price of gasoline recorded its biggest gain in more than two years amid hurricane-related production disruptions at oil refineries in Texas, reports Reuters. The Labour Department said its producer price index for final demand rose 0.4% also lifted by an increase in the cost of services. Wholesale prices advanced 0.2% in August. In the 12 months through September, the PPI jumped 2.6%. That was the biggest gain since February 2012 and followed a 2.4% increase in August.
Gold prices were little changed amid a steady dollar on Friday, halting a five-day rally as investors wait for key US inflation data for clues on the outlook for potential hikes in US interest rates.
Oil prices edged up on Friday as both US crude production and inventories declined, pointing towards a tightening market.
US stocks retreated from recent record highs on Thursday as AT&T shares sank after it said it lost subscribers in the last quarter and banks slipped following results from JPMorgan and Citigroup. The Dow Jones Industrial Average fell 31.88 points, or 0.14%, to end at 22,841.01, the S&P 500 lost 4.31 points, or 0.17%, to 2,550.93 and the Nasdaq Composite dropped 12.04 points, or 0.18%, to 6,591.51.
Asian stocks held firm near a 10-year high on Friday thanks to expectations of brisk global growth, although investors held off chasing the shares higher ahead of US and Chinese economic data as well as the Chinese Communist Party congress next week. Japan's Nikkei .N225 was little changed while the SGX Nifty was trading 19 points lower.