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Ramesh Damani – The stock picker who makes concentrated bets.

Ramesh Damani – The stock picker who makes concentrated bets.
by 5paisa Research Team 17/11/2021

As per the latest corporate shareholdings filed, Ramesh Damani publicly holds a portfolio of just 1 stock with a net worth of over Rs 34.2 crore. 

Ramesh Damani, born to a successful broker, became a member of BSE in 1989, only to realise that brokerage income wasn’t the means to fulfil his aspiration for wealth creation. With his strong analytical skills and foresight, he has invested in high-quality value companies (The “Warren Buffet” Approach).

He had spotted that spark in Infosys and CMC in 1993 which swelled his portfolio hundredfolds. Later he found the same conviction in the liquor stock- McDowell (now United Spirits) and the Navratna PSU- Bharat Electronics. His investment style can be classified as Concentrated Stock Picking (a Bottom-Up approach) wherein he identifies a potential investment at lucrative valuation, strong management and promising growth potential. The level of conviction in his methodology is evident in a couple of stocks in the portfolio at a particular time. The strategy works only for those who look for fundamentals in a company for wealth creation, not those who time the market.

As per the latest shareholding data, during the September quarter, the stock picker is invested in Goldiam International Ltd, a 1.57% stake in the company for 349,000 shares held since June Quarter of 2019. During the same period, the stock has given a CAGR of 393%.

Parting Thoughts - 7 Stock Investing lessons by Ramesh Damani.  

The ace investor has presented his thoughts in a conference on investing as under- 

1. Bear markets can be cruel enough to erode wealth accumulated during the bull rally. 

2. The more the sharp rally, the longer it would take to come back to its previous peak. 

3. Long term trend of the market is always up. 

4. Longer the stability, the greater the subsequent volatility.

5. Very, very few businesses have permanent moats-Nothing is permanent.

6. Diversification is the key to success as it is not obvious which business will outperform. 

7. Buy stocks at a cheap valuation to make compounded returns in the next 5-10 years.

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Mahindra forays into Vehicle Leasing & Subscription business with the launch of ‘Quiklyz’

Mahindra forays into Vehicle Leasing & Subscription business with the launch of ‘Quiklyz’
by 5paisa Research Team 17/11/2021

Quiklyz shall provide vehicle leasing & subscription services for multiple brands, all under one roof.  

Mahindra & Mahindra Financial Services Limited, an NBFC and part of Mahindra Group, announced the launch of a new business under the name ‘Quiklyz’. With this launch, the company has ventured into the Vehicle Leasing & Subscription business and intends to provide great convenience, flexibility and choice to customers across cities.

What services does Quiklyz provide?

Quiklyz provides car usership to customers with which they can access a brand-new car without having to deal with the legalities/formalities of car ownership, such as registration, insurance, scheduled and unscheduled maintenance, roadside assistance etc.

Where can customers avail Quicklyz services?

While the company will start off the business in metro cities like Bengaluru, Chennai, Delhi, Gurugram, Hyderabad, Mumbai, Noida, and Pune, and will expand its footprint to other cities across India, including tier-II cities. This way, the company intends to cover 30 locations over the next year. Moreover, the company is also in talks with several automotive OEMs (Original Equipment Manufacturers) and will announce partnerships with them on leasing and subscription soon.

Which segment will Quicklyz cater to?

The company will provide these services to both corporate (B2B) and retail (B2C) customers. In the B2B segment, the company intends to offer services to corporates and fleet operators. On the other hand, the B2C segment will target customers with a millennial mindset. 

Quiklyz will cover vehicles across all major auto OEMs, and provide customers with a wide range of choices in terms of vehicle models, variants and colours.

At the closing bell, the share price of Mahindra & Mahindra Financial Services Limited stood at Rs 179.25, a decline of 2% from the previous day’s closing price of Rs 182.9 on BSE.

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Go Fashion raises Rs.456 crore ahead of IPO, from anchor investors

by 5paisa Research Team 17/11/2021

In a meeting held by the Go Fashion IPO committee on November 16, the company has finalized an allocation of 66,10,492 equity shares to Anchor Investors at a price of Rs.690 per share. Go Fashion allocated these shares to 33 anchor investors and the grand total or the transaction size amounted to Rs.456.12 crore, according to the company’s anchor allocation intimation that was released.

Anchor investors are institutional investors that buy equity shares in a company, ahead of the IPO subscription, to increase the goodwill regarding the upcoming IPO, for example- sovereign wealth funds and mutual funds. If the list of anchor investors is attractive, it lures more investors to subscribe to the IPO.

Few of the major anchor investors for Go Fashion are as follows:

Sr. no

Name of the Anchor Investor

Equity shares allocated

Total amount at Anchor investor allocation price (Rs.)

% of Anchor Investor portion

1

Government of Singapore

8,52,432

58,81,78,080

12.90%

2

The NOMURA Trust and Banking Co. Ltd

5,07,234

34,99,91,460

7.67%

3

Abu Dhabi Investment Authority- Behave

4,34,736

29,99,86,470

6.58%

4

Fidelity Investment Trust Fidelity International Discovery Fund

4,34,736

29,99,86,470

6.58%

5

Neuberger Berman Emerging Markets Equity Master Fund L.P.

4,34,736

29,99,86,470

6.58%

6

SBI Contra Fund

3,33,333

22,99,99,770

5.04%

7

Fidelity Funds- Global Consumer Industries Pool

2,86,335

19,75,71,150

4.33%

8

Monetary Authority of Singapore

1,62,057

11,18,19,330

2.45%

9

HDFC Trustee Co. Ltd. A/C HDFC Dividend Yield Fund

4,34,736

29,99,86,470

6.58%

10

Ashoka India Equity Investment Trust PLC

2,16,888

14,96,52,720

3.28%

 

Domestic investors include- ICICI Prudential, Axis mutual fund, Aditya Birla Sun Life and Kotak mutual fund etc.

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Penny Stock Update: These stocks gained up to 9.00% on Wednesday

Penny Stock Update: These stocks gained up to 9.00% on Wednesday
by 5paisa Research Team 17/11/2021

On Wednesday, the Indian equity market closed in negative. BSE Auto index is the top gainer whereas the BSE Realty index is the top loser in today’s trade.

Today the Indian equity market closed on a negative note.

At close, the Nifty 50 and BSE Sensex indices closed negative down by 100.55 points i.e., 0.56% and 314.04 points i.e., 0.52% respectively. Stocks pulling the BSE Sensex and Nifty 50 index up were Asian Paints, ITC and Bajaj Finance. Whereas, stocks that dragged the BSE Sensex and Nifty 50 down were HDFC Bank, HDFC, TCS and Reliance Industries. On Wednesday, the BSE Sensex and Nifty 50 index opened down by 0.23% and 0.33% from the previous close.

In Wednesday's trading session the S&P BSE Auto, S&P BSE Utilities, S&P BSE Midcap Select Index and S&P BSE Smallcap Select Index were top gainers. BSE Auto index consisting of stocks such as Maruti Suzuki India Ltd, Tata Motors Ltd, Tube Investments of India Ltd and Bosch Ltd are the top gainers.

Among the sectoral indices, S&P BSE Realty, S&P BSE Energy, S&P BSE Oil & Gas and S&P BSE Telecom were top losers. BSE Realty consists of stocks such as Godrej Properties Ltd, Sunteck Realty Ltd, Prestige Estates Projects Ltd and Mahindra Lifespace Developers Ltd.

Here is the list of penny stock that gained up to 9.00% on a closing basis on Wednesday, November 17, 2021:  

Sr No.                 

Stock                 

LTP                  

Price Gain%                 

1.                 

Sanwaria Consumer Ltd  

0.65  

8.33  

2.                 

JIK Industries Ltd  

0.85  

6.25  

3.                 

Visagar Polytex Ltd  

0.85  

6.25  

4.                 

Hilton Metal Forging Ltd  

17.85  

5.00  

5.                 

Cinevista Ltd  

19.05  

4.96  

6.                 

Hindustan Motors Ltd  

12.75  

4.94  

7.                 

Energy Development Company Ltd.  

14.90  

4.93  

8.                 

PAE Ltd  

7.45  

4.93  

9.                 

Indowind Energy Ltd  

15.00  

4.90  

10.                 

Sintex Industries Ltd  

9.70  

4.86  

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Top 10 stocks in overbought and oversold zones

Top 10 stocks in overbought and oversold zones
by 5paisa Research Team 17/11/2021

The Relative Strength Index (RSI) is one of the most widely used momentum indicators. Here we have listed stocks having RSI in overbought and oversold zones.

A not so good day for Nifty 50 today as it shed almost 0.56% or 100.55 points. In fact, since the last two trading sessions, Nifty 50 is forming lower highs and lower lows on a 5-minute time frame. Time and then, conviction is increasing for the resistance levels of 18,210-18,604 that Nifty 50 is not breaching at the moment. Having said that, the index notoriously takes support on the 50-Day Exponential Moving Average (EMA).

In the current market situation, it demands to have a more stock-specific view. However, checking the momentum indicator would definitely help you screen stocks. And one of the most popular and widely used momentum indicators is the Relative Strength Index (RSI). 

RSI is an indicator that helps you measure the magnitude of recent price changes to evaluate overbought or oversold situations. RSI is usually displayed as a line graph on a scale of 0 to 100 which moves between two extremes. It is believed that stocks with an RSI of 70 or above suggest overbought or overvalued conditions and probably signals a trend reversal or correction. On the flip side, an RSI of 30 or below suggests an oversold or undervalued situation.

Here is the list of the top 10 stocks with RSI in overbought and oversold zones.

Top 10 Stocks with RSI in overbought zone 

Stock Name 

Last Traded Price (LTP) 

Day's Change (%) 

RSI 

Rajesh Exports Ltd. 

741.3 

7.90% 

83.9 

Century Plyboards (India) Ltd. 

700.7 

0.20% 

83.4 

Thermax Ltd. 

1,744.6 

-2.70% 

83.3 

Sheela Foam Ltd. 

3,206.5 

1.20% 

83.0 

Finolex Cables Ltd. 

600.0 

2.10% 

80.9 

Page Industries Ltd. 

40,966.1 

-0.60% 

78.0 

Apollo Hospitals Enterprise Ltd. 

5,734.0 

12.50% 

77.2 

Lux Industries Ltd. 

4,546.1 

7.70% 

77.0 

KPIT Technologies Ltd. 

466.4 

6.70% 

76.9 

Macrotech Developers Ltd. 

1,428.8 

0.90% 

76.3 

 

Top 10 Stocks with RSI in oversold zone 

Stock Name 

Last Traded Price (LTP) 

Day's Change (%) 

RSI 

IOL Chemicals and Pharmaceuticals Ltd. 

478.9 

-3.3% 

22.5 

Tasty Bite Eatables Ltd. 

13,862.6 

-2.4% 

22.8 

Bajaj Consumer Care Ltd. 

201.4 

-2.5% 

22.9 

FDC Ltd. 

294.6 

-0.7% 

23.8 

Solara Active Pharma Sciences Ltd. 

1,052.5 

1.2% 

25.1 

BASF India Ltd. 

2,884.5 

-0.6% 

25.7 

JM Financial Ltd. 

81.2 

1.9% 

26.6 

PNB Housing Finance Ltd. 

462.8 

-1.0% 

28.8 

Aarti Drugs Ltd. 

539.5 

-1.8% 

29.2 

Bayer Cropscience Ltd. 

4,623.3 

-0.3% 

29.8 

 

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F&O Cues: Key support & resistance levels for Nifty 50

F&O Cues: Key support & resistance levels for Nifty 50
by 5paisa Research Team 17/11/2021

Today the Nifty F&O action for November 18 expiry shows feeble support at 17,800.

The Indian equity market continued to close in red for the second day in a row. It opened with a negative note and moved up steadily to cross the 18,000 mark during the first one hour of trade. Nevertheless, it could not sustain the momentum and fell after that. The surge in covid cases in some countries along with a not very positive view of FIIs has made the market nervous.

Activity in the F&O market for the weekly expiry on November 18, 2021, shows that resistance has remained at 18,200. The highest call option open interest (136379) for Nifty 50 stood at a strike price of 18,200. In terms of the highest addition of open interest in the call options front, it was at 18,000 in the last trading session. A total of 67,918 open interest was added at this strike price. The next highest call option open interest stands at 18,000 where total open interest stood at 133,159.

In terms of put activity, the highest put writing was seen at a strike price of 17,900 (19,949 open interest added on November 17), followed by 17,800 (13,914 open interest added on November 17). The highest put open interest unwinding was seen at a strike price of 18,100 (13,432 open interest shed on November 17).

Highest total put open interest (75,788) stood at a strike price of 17,800. This is followed by a strike price of 17,900, which saw a total put option open interest of 70,503 contracts.

The Nifty 50 put call ratio (PCR) closed at 0.56 compared to 0.6 in the previous trading session. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

Following table shows the difference between call and put options at strike price near to max pain of 17900. 

Strike Price  

Open Interest (Call option)  

Open Interest (Put option)  

Diff(Put – Call)  

17,800.00  

16606  

75788  

59182  

17,900.00  

62586  

70503  

7917  

18,000.00  

133159  

43057  

-90102  

18100  

118364  

12183  

-106181  

18,200.00  

136379  

8816  

-127563  

18,300.00  

96266  

3426  

-92840  

18,400.00  

59061  

1114  

-57947  

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