Goodwill Investors Education initiative, Goodwill’s Eagle Eyes !

Goodwill Investors Education initiative, Goodwill’s Eagle Eyes !

Nifty in correction mood:Gold slides:

New IPO-Shyam Metalics

NSDL freezes 3 FPI a/cs

Adani Group a/cs down:


Stock Market Live Updates: The Indian equity indices, Sensex and Nifty are trading lower Monday dragged by selling in metals and banking stocks amid mixed global cues. Broader indices, smallcap and midcap index declined. Barring Nifty IT, all the sectoral indices are trading in the red with heavy selling seen in banks, metals, financials, auto and realty indices

Gold prices at 1-1/2-week low on dollar strength as Fed meeting looms

Gold prices slipped on Monday to their lowest in more than a week, weighed down by a stronger dollar, while investors awaited cues from the Federal Reserve policy meeting this week with recent spikes in U.S. consumer prices seen as a temporary blip. Spot gold was down 0.6 percent at $1,864.58 per ounce, its lowest since June 4. US gold futures fell 0.6 percent to $1,867.60 per ounce.

World stocks near record high as investors await dovish Fed act

Global shares held firm near record highs on Monday while US bond yields flirted with three-month lows as investors expect the Federal Reserve to stick to its dovish mantra later this week. Japan’s Nikkei rose 0.35 percent while MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 percent. Activity was limited with the region’s largest markets – China, Hong Kong and Australia – closed for a holiday. Globally, equity markets were basking in the prospects of a broadening economic recovery from the coronavirus pandemic and anticipation of continuity in dovish monetary policy from the US Federal Reserve.

IIP Surprise:Industrial production super-surged in April, growing 134% amid favorable base effects despite weakening momentum. On a sequential basis, April IIP degrew 12%, reflecting hit on production activity as major states like Maharashtra and Delhi led the localized lockdowns. We note Maharashtra has 18% share in India’s manufacturing GVA. The May IIP sequential growth may also be impacted owing to more pronounced localised lockdowns state wise.

However, assuming Q1FY22 sees the maximum Covid-II heat and as larger proportion of the population are vaccinated, some pent-up demand could push manufacturing and overall GDP growth back up in H2FY22. We see FY22 GDP growth at 9.0%. We reckon the nascent and patchy K-shaped growth recovery post Covid-I came with a potentially scarring and divided labor market amid sub-optimal effective fiscal policy stimulus. The recovery ahead may again be led by capital and profits and not improving labor markets and wages.

Shyam Metalics to launch Rs 909 cr-IPO today

Steel manufacturer Shyam Metalics & Energy is set to launch its initial public offer (IPO) today. The company has fixed the price band for the issue at Rs 303-306 per share. The Rs 909-crore public issue comprises a fresh issue of up to Rs 657 crore, and an offer for sale (OFS) up to Rs 252 crore by promoters. The three-day offer will close on June 16. Investors can put minimum bids for 45 equity shares and in multiples of 45 equity shares thereafter

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