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And though markets are certainly celebrating, from where I sit, a lot of the good news that this rate cut could cement, i.e. the much hoped for soft landing, is already baked into current prices and valuations. So, I would not be at all surprised to see this burst of enthusiasm fade fairly quickly.
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News and Media
Vodafone Idea shares have dropped 24% in two days, falling below Rs 10 due to the AGR ruling. The Supreme Court upheld the full AGR demand of Rs 70,320 crore. Despite this, Nomura upgraded the stock to 'buy,' while UBS suggested a fair value range of Rs 12 to Rs 24.
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News and Media
Phoenix Overseas will launch its SME IPO today, aiming to raise Rs 36 crore. The IPO includes fresh equity shares and an offer for sale, with a price band of Rs 61-64 per share. The company is involved in trading and exporting agricultural products and manufacturing fashion accessories. The subscription period runs from September 20 to September 24.
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News and Media
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