A 'ferocious' rally in largecaps now will be a sign of risk, cautions Ramesh Damani

Retail investors who've given in to the excitement of quick money through trading or futures and options have missed out on an opportunity to create multi-bagger returns, said veteran market participant Ramesh Damani. Underscoring India's structural bull run, Damani reminded investors that no rally lasts indefinitely, citing examples of Thailand and Japan. Now, he sees momentum in Indian stock market shifting from mid and smallcaps towards largecap shares. This should be watched closely, he said. "If we see a ferocious rally from here on in largecaps, that'll signal an end to the rally," Damani said, implying that very swift rallies in largecap shares are a sign of risk in the market. Read more here

Take a look at these key events

Today
Google Birth Anniversary
Amazon, Flipkart, Meesho's festival sale begins
Saj Hotels IPO to open
TechEra Engineering IPO to close
KRN Heat Exchanger IPO to close
Thinking Hats Entertainment Solutions IPO to close
KRN Heat Exchanger IPO to close
Uncles Colours and Chemicals IPO to close
Teacher’s Engineering IPO to close
SD Retail to list on NSE SME
Greentech likely listing on NSE SME
BikeWo GreenTech listing on NSE SME
Phoenix Overseas likely listing
Avi Ansh Textile likely listing on NSE SME
Zee Media Corporation to consider fundraising options
Renukaswamy murder: Court to hear bail application of actor Darshan
CM Stalin to meet PM Modi regarding fund delays to Tamil Nadu
UNESCO team to visit Gingee Fort in TN nominated for World Heritage Site tag
DUSU polls
2nd test of India vs Bangladesh to start in Kanpur
IIFA 2024 begins in Abu DhabiTomorrow
World Rabies Day
PM Modi’s election rally in Jammu
Tirupati laddu row: Jagan Mohan Reddy calls for atonement rituals in temples for AP CM Naidu's 'sin’
Jagan Mohan Reddy to visit the Tirumala temple on foot
Manipur: Kuki groups declare 'shutdown' fearing attacks
NASA Crew-9 mission launch
Choreographer Jaani Master’s custody hearing
All India Tennis Association elections

Govt hikes minimum wages as living costs surge

The Union government said on September 26 it is increasing the minimum wages marginally for workers employed in informal sectors, including construction, mining and agriculture, from October 1. This adjustment in the the Variable Dearness Allowance (VDA) "is aimed at helping workers cope with the rising cost of living", the statement said, referring to the 2.40-point rise in consumer price index (CPI) for industrial workers. Details here

IT solutions provider Mouri Tech files draft papers for Rs 1,500-crore IPO

IT solutions and services provider Mouri Tech has filed preliminary papers with the capital markets regulator SEBI as it plans to raise Rs 1,500 crore via an initial public offering. The IPO comprises fresh issue of equity shares worth Rs 440 crore, and an offer-for-sale of shares worth Rs 1,060 crore by existing shareholders, as per the draft papers filed on September 25. More details here

IFSCA likely to issue norms for listing CPs, CDs in GIFT City in 3 weeks

The International Financial Services Centres Authority (IFSCA) is expected to bring in norms for the listing of commercial papers (CPs) and certificates of deposit (CDs) on the GIFT City in the next three weeks, sources have told Moneycontrol. Read more here

Festive sale frenzy: 5 online shopping traps to avoid this season

With Navratri set to begin from October, followed by Dussehra and Diwali later in the month, festive shopping campaigns by e-commerce portals are in full swing. Quick commerce companies have lined up attractive deals, cashback offers and hefty discounts. This year, messaging apps are full of ‘cheat sheets’ — a selection of purportedly the best deals of huge discounts on mobile phones, electronics, appliances, clothes and furnishing — across portals. However, amidst the thrill of discounts and deals, it's essential to be aware of potential pitfalls. Read on

Why Indian students pursuing higher education abroad need life insurance

In the unfortunate event of a loss of life while studying abroad, a life insurance cover can not only ensure that expenses related to your education loan is taken care of but also safeguard all future financial needs of your dependent parents or spouse. Read more here