In the past 1-month, 11 penny stocks have seen sharp declines, falling between 20% and 50%. These underperformers were identified using a targeted screening approach, focusing on stocks with a market capitalization below Rs 1,000 crore, a share price under Rs 20, and a minimum recent trading volume of 5 lakh shares. This strategy is designed to highlight low-priced, actively traded penny stocks that have experienced notable downside. (Data Source: ACE Equity)Penny stocks may seem attractive due to their low prices and potential for quick gains, but they carry high risks. With low liquidity, high volatility, and limited transparency, theyre prone to manipulation and sudden drops. Without a clear strategy and strong risk control, investors can face more losses than returns.
To enhance mutual fund distribution in remote regions, Amfi partnered with the Department of Posts to train one lakh postmen. This collaboration, marked during Amfi's 30th foundation day, aims to deepen financial literacy and broaden the reach of mutual fund products nationwide. Sebi officials and industry leaders attended the event, highlighting the initiative's significance.
Radhika Gupta's 'Mango Millionaire' introduces the 10-30-50 savings rule, advocating for a progressive approach to wealth building. The framework suggests saving 10% of income in your 20s, increasing to 30% in your 30s and 40s, and reaching 50% from your 40s onwards. Gupta also proposes an automated 'Savings Deducted at Source' system to cultivate consistent saving habits.
The RELIX catalogues every plant species in 353 prairie remnants parts of the native grasslands of the midwest that were not converted to farmland during colonization.
The Reserve Bank of India (RBI) has approved Sumitomo Mitsui Banking Corporation's (SMBC) acquisition of up to 24.99% stake in Yes Bank, though SMBC won't be classified as a promoter. This follows SMBC's plan to increase its holding to 20% through a secondary purchase from State Bank of India and seven other shareholders.
Foreign Institutional Investors (FIIs) have continued their selling trend in August, offloading equities worth 25,564 crore, bringing the year's total to 1,57,440 crore. High valuations in India compared to other emerging markets and concerns over IT sector growth are key drivers. However, a potential rate cut by the Federal Reserve may ease the selling pressure.
Markets closed higher for the second week, boosted by GST reform optimism, though profit booking trimmed gains. FIIs continued selling, but DII support cushioned the impact. Analyst Sudeep Shah suggests Nifty faces resistance at 25050-25100 and support at 24650-24600, while Bank Nifty lags, with consumer durables and auto sectors showing strength.
A GKB Ophthalmics virtual AGM turned explosive when a shareholder, owning just one share, fiercely criticized the management's performance and governance. Abhishek Kalra questioned Managing Director Krishna Gopal Gupta's credentials and demanded his resignation within ten days, citing poor returns. Gupta's exasperated response about Kalra's minimal stake further fueled the online frenzy, highlighting the company's recent stock decline.
