Sell in May, go away is a popular market adage.
But Don t sell any new shares in May is the best kept secret of Dalal Street that s set to break.
Sample this: the last four General Election election cycles starting 2004 have not seen a single initial public offering (IPO) launch during the month of May.
Seven out of the 10 listed firms of Adani group have received show cause notices from the Securities and Exchange Board of India (Sebi) for alleged violation of related party transactions and non-compliance with listing regulations, the companies said in their regulatory filings to the stock exchanges.
While group s flagship Adani Enterprises Ltd, renewable energy firm Adani Green Energy Ltd (AGEL) and city gas distributor Adani Total Gas Ltd said Sebi sent notices of their parent or holding company controlled by conglomerate s chairman Gautam Adani, ports company Adani Ports & Special Economic Zone, Adani Power, electricity transmission firm Adani Energy Solutions, and commodities firm Adani Wilmar said they have received Sebi notices.
India s forex reserves dropped $2.412 billion to $637.922 billion as on April 26, in the third consecutive weekly decline in the reserves, the Reserve Bank of India (RBI) said on Friday.
In the previous reporting week, the overall reserves had declined $2.28 billion to $640.33 billion.
For the week ended April 5, the reserves had hit an all-time high of $648.562 billion following multiple weeks of increases.
Apple grew at a strong double-digit rate in India, hitting a new March quarter revenue record in an incredibly exciting market , even though the tech titan s overall quarterly revenue declined 4 per cent.
Apple s India showing earned praises from CEO Tim Cook who described the market here as a major focus and said Apple is working on the entire ecosystem from developer to the market to operations.
The top honcho said he is very pleased with the growth numbers.
Business families like the Godrej group are increasingly realising that an amicable settlement is better. Else, the wealth of all shareholders gets destroyed.