Street signs: ITDC shares, delivery-based volumes on the rise, and more

Delivery-based volumes on the rise

  

The rebound in the markets is likely to be extended if delivery-based volumes are an indication. The Nifty has gained over 300 points or 3 per cent, so far, this month with higher delivery-based volumes. On the BSE, nearly 40 per cent of the trades carried out in the past few sessions were marked for delivery, while on the NSE the figure was close to 30 per cent. “If delivery-based volumes continue to edge higher, we can expect a turnaround in the markets,” said a broker. The latest gains in the markets have mirrored gains in global equities. The US’ S&P500 has rallied nearly 6 per cent in the past three weeks.

Sundar Sethuraman

ITDC surge sparks divestment buzz

Shares of India Tourism Development Corporation (ITDC) have zoomed 50 per cent in the past four trading sessions. The surge has triggered buzz that the government could soon sell some of the marquee properties owned by the company, including Delhi’s iconic Ashok hotel. “There is a big value unlocking opportunity in ITDC. Even after the recent surge, the company’s market value is just Rs 2,300 crore. If the government finally decides to sell some of its hotel properties, it will be a big boost to the stock price,” said an analyst, adding that the market may have got a whiff of an impending announce-ment.  Market players, however, caution small investors that the stock had seen similar surge in the past but nothing meaningful materialised. 

Samie Modak

Amfi campaign to highlight risks

Industry body Association of Mutual Funds in India (Amfi) is lining up two more creatives for the Mutual Funds Sahi Hai campaign. Instead of just harping on the benefits of MFs, the communication will be more nuanced this time round. “At a time when people are not making money, saying “Mutual Funds Sahi Hai” may convey the wrong message. The campaign will now focus on helping investors understand the risks associated with MFs and the importance of staying invested for the long-term,” said a sector official. A few months ago, regulator Securities and Exchange Board of India had asked Amfi to tone down its campaign on concerns that it could lead to misselling.

  

Ashley Coutinho