Is pick-up in steel prices sustainable, IRCTC stock touches closing high of Rs 933; all this and more on Moneycontrol Pro

  • It's more or less a foregone conclusion the RBI will cut its policy rate by 25 basis points on Thursday

  • IRCTC has rallied further to touch a closing high of Rs 933 and is now hovering around Rs 870

  • Tyche Industries Q2 performance was even better with a strong sequential improvement in top line

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Rate cuts and the streetlight effect

The streetlight effect is a reference to the story of the drunk searching for his lost keys under the streetlight because that is where the light is. In other words, do the easy thing rather than the right one, regardless of whether it’s of any use. Will another policy rate cut be like that? It’s more or less a foregone conclusion the Reserve Bank of India (RBI) will cut its policy rate by 25 basis points on Thursday. We ask if the repo rate is too high and whether there is a need to push it lower? Read more.

 Is pick-up in steel prices sustainable, IRCTC stock touches closing high of Rs 933; all this and more on Moneycontrol Pro

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Is the pick-up in steel prices sustainable?

On Tuesday evening, US President Donald Trump set the cat among commodities when he said he was in no hurry to sign a trade deal with China and was even willing to wait till 2020. While this could be another bargaining tactic, the ups and downs in this negotiation have made watchers wary of jumping to any conclusions. Will this kill the nascent uptrend in steel prices we have seen in recent times? Read more.

IRCTC – what should investors do after the huge rally?

Indian Railway Catering and Tourism Corporation (IRCTC) had a stellar listing on the bourses – at Rs 644, a 101.25 percent premium over its issue price of Rs 320 per share. The stock has rallied further to touch a closing high of Rs 933 and is now hovering around Rs 870. Do fundamentals back this outperformance or is the rally likely to fizzle out? In this context, a financial health check-up may be useful. Read more.

Tyche Industries: What should investors do?

Tyche Industries gained the attention of our independent research team in the last quarter due to a strong performance. Its Q2 performance was even better with a strong sequential improvement in top line. This is backed by a robust mix of both pricing and volume growth and adds to the thesis that the company might be exploring ways to increase capacity utilisation levels after posting near stagnant sales numbers for the last five years. Read more.

Picks from our technical analysts (please click on security name to access recos)

Biocon
Cummins India
NMDC
ICICI Bank

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Updated Date: Dec 04, 2019 11:59:31 IST