Tit - bits

Photo: Stocks Vibe

#Today the Sensex closed at 40,239.88 down 247.55 points or  0.61%, while Nifty fell to

11,856.80 levels down 80.70 points or 0.68%.  As mentioned earlier, the Nifty is likely to stabilize around 11700 mark before taking a dive below 9500 levels. 

Meanwhile, to make the matter worse, there is news that the equity mutual fund (MF) schemes recorded worst inflows in three and a half years at Rs.1,311 crore for November. It was 78% low compared to the preceding month. 

However, despite the drop in equity inflows, the assets under management (AUM) for the industry soared to a record high of Rs.27 trillion, thanks to over Rs.50,000 crore of net inflows in debt schemes. This means the money is getting shifted to debt from equities. Concerns around downgrades and defaults are keeping investor sentiments under check.

#Today as expected the scrip of Yes Bank Ltd fell below Rs.55/53 levels,  and closed at Rs.50.55. The stock is likely to test its long term supports at Rs.44/45 levels. 

#The scrip of P C Jeweller Ltd was asked to exit at around Rs.27, after it hit the stop loss levels. The stock closed at Rs.22.80 today in the NSE and Rs.22.75 in the BSE.  Hope all of you are out from this share. Now,  long term investing concept is gone after the NDA government in their excessive greed to increase revenue, introduced the menacing LTCGT.

#I feel the shares of Rakesh Jhunjhuwala owned Titan Company Ltd (Rs.1,179.30) is likely to  CRASH, as Tanisq sells non Hallmarked Jewellery or it sells without a BIS Hallmark. So,  either the Company has clear its inventory of non Hallmarked jewellery at a discount or has to melt them all and prepare new. This is expected to bring huge losses to the company when the government's order to sell only Hallmarked jewellery gets effected from January,  2020.
What is Hallmarking?

The BIS hallmark is a system for gold and silver jewellery sold in India certifying to the purity of the metal. It certifies that the piece of jewellery conforms to a set of standards laid by the Bureau of Indian Standards, the national standards organization of India. BIS hallmark for gold jewellery consists of several components:

A Google Search shows that RJ owns 62,651,220 shares of Titan Company Ltd.

Motilal Oswal has already downgraded the stock to Neutral from Buy.

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