Learn how Interest Rates affect Equity Markets.

How interest rates affect equity markets :-

Interest rates are set by central banks all over the world. In India, Reserve Bank of India sets the repo rate. This is the rate at which RBI lends to commercial banks. This becomes the benchmark rate. Commercial banks decide borrowing rates for businesses and people like us based on this benchmark rate. On 29 January 2013, RBI will conduct its quarterly review of monetary policy. According to a survey of 10 economists polled by The Economic Times, a business daily, it is expected that RBI would cut repo rates by 0.25 per cent to 7.75 per cent.

Equity markets would watch out for steps taken by the Reserve Bank of India. Here are pointers that highlight the relationship between interest rates and equity markets:

            •    High interest rates hurt company profits: In the first half of the financial year 2012-13, companies across sectors paid 3.7% of their sales as interest, according to RBI’s monthly bulletin for January 2013. This was just 1.6% four years ago. This ate into company profits. The net profit as a percentage of sales for companies stood at 6.4% in the first half of 2012-13 against 9.2% four years ago.

               •    Small companies hit most: The RBI study of small, medium and large listed companies suggests that small and medium sized companies are hit hardest due to high interest rates. Banks make small companies pay higher interest rate than large companies. The interest paid as a percentage of sales was 9.2% for small companies, 5.8% for medium companies and 3.3% for large companies. RBI defines small companies as those with sales of less than Rs 100 crore. Medium sized companies have sales between Rs 100 crore to Rs 1,000 crore. Large sized companies are those with sales of over Rs 1,000 crore.

               •    High interest rates reduce domestic participation in stock markets: Investors tend to keep their money in fixed deposits or fixed return assets when interest rates are high. Indian investors pulled out money from equity markets in 2012. For January 2013, mutual funds were net sellers to the tune of Rs 2,770 crore, according to Securities and Exchange Board of India. This means investors in India do not feel the need to take any risk and bet on equity markets. In contrast, low interest rates in US and others markets drove foreign institutional investors to risky assets in emerging markets. In January 2013 so far, FIIs have injected $ 3bn in Indian equity markets.

               •    High interest rates slow growth: Future growth of companies and expansion is also affected due to persistent high interest rates. Companies struggle to repay existing loans and put on hold expansion plans. This results in fewer jobs than before. Companies also cut spending and consume less. This reduces the demand for goods and services and slows economic growth.

International trade

                           International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries.

                         Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. Increasing international trade is crucial to the continuance of globalization. Without international trade, nations would be limited to the goods and services produced within their own borders.

                           International trade is, in principle, not different from domestic trade as the motivation and the behavior of parties involved in a trade do not change fundamentally regardless of whether trade is across a border or not. The main difference is that international trade is typically more costly than domestic trade. The reason is that a border typically imposes additional costs such as tariffs, time costs due to border delays and costs associated with country differences such as language, the legal system or culture.

                         Another difference between domestic and international trade is that factors of production such as capital and labor are typically more mobile within a country than across countries. Thus international trade is mostly restricted to trade in goods and services, and only to a lesser extent to trade in capital, labor or other factors of production. Trade in goods and services can serve as a substitute for trade in factors of production. 

                          Instead of importing a factor of production, a country can import goods that make intensive use of that factor of production and thus embody it. An example is the import of labor-intensive goods by the United States from China. Instead of importing Chinese labor, the United States imports goods that were produced with Chinese labor. One report in 2010 suggested that international trade was increased when a country hosted a network of immigrants, but the trade effect was weakened when the immigrants became assimilated into their new country.

Introduction & Trade Stocks Of Word Stock Exchange

• Introduction:-

                        World-Stock-Exchanges.net features a list of world stock exchanges, securities commissions and other regulatory agencies, as well as stock market resources. 

List provides links to stock and commodity exchanges worldwide, including those dealing in futures, options, and derivatives. 

A stock exchange provides facilities for stock brokers and traders to trade stocks, securities and other financial instruments. 

Generally facilities are also provided for the issue and redemption of securities as well as other capital events including the payment of income and dividends. 

To be able to trade a security on a certain stock exchange, it has to be listed there. 

The stock markets can be both real and virtual. The stock exchanges with physical locations carry out the stock trading on trading floor. 

In case of the virtual stock exchanges, the entire trading is done online. 

Supply and demand in stock markets is driven by various factors which affect the price of stocks. 

World stock exchanges are very complex and affected by local events though integration and flow of funds internationally has raised the expertise of stock exchanges in the respective countries. 

Each of the international exchanges has different qualifications for listings and offers different stocks and securities.

• Trade stocks:-

                                   Plus500 was founded in 2008 and enabled investors to trade on movements in the price of Stocks, Indices, Commodities and Forex without having to buy or sell the physical commodity in the market.

• leading provider of Contracts for Difference (CFD) trading system
• free unlimited demo account
• bonus for every new member
• simple and easy to understand learning tools

World Stock Exchange

Ten largest stock exchanges in the world by market capitalization in 2011: 
            1. New York Stock Exchange (NYSE):-

                                            The largest stock exchange in the world by both market capitalization and trade value. NYSE is the premier listing venue for the world’s leading large- and medium-sized companies. Operated by NYSE Euronext, the holding company created by the combination of NYSE Group, Inc. and Euronext N.V., NYSE offers a broad and growin array of financial products and services in cash equities, futures, options, exchange-traded products (ETPs), bonds, market data, and commercial technology solutions. Featuring more than 8000 listed issues it includes 90% of the Dow Jones Industrial Average and 82% of the S&P 500 stock market indexes volume. 

    

           2. NASDAQ OMX:-

                                         Second largest stock exchange in the world by market capitalization and trade value. The exchange is owned by NASDAQ OMX Group which also owns and operates 24 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed invome, derivatives, commodities, futures and structured products. It is a home to approximately 3,400 listed companies and its main index is the NASDAQ Composite, which has been published since its inception. Stock market is also followed by S&P 500 index. 

         

           3. Tokyo Stock Exchange:-

                                              Third largest stock exchange market in the world by aggregate market capitalization of its listed companies. It had 2,292 companies which are separated into the First Section for large companies, the Second Section for mid-sized companies, and the Mothers section for high growth startup companies. The main indices tracking Tokyo Stock Exchange are the Nikkei 225 index of companies selected by the Nihon Keizai Shimbun, the TOPIX index based on the share prices of First Section companies, and the J30 index of large industrial companies. 94 domestic and 10 foreign securities companies participate in TSE trading. The London Stock Exchange and the Tokyo Stock Exchange are developing jointly traded products and share technology. 

          4. London Stock Exchange:-

                                                    Located in London City, it is the oldest and fourth-largest stock exchange in the world. The Exchange was founded in 1801 and its current premises are situated in Paternoster Square close to St Paul’s Cathedral. It is the most international of all the world’s stock exchanges, with around 3,000 companies from over 70 countries admitted to trading on its markets. The London Stock Exchange runs several markets for listing, giving an opportunity for different sized companies to list. For the biggest companies exists the Premium Listed Main Market, while in terms of smaller SME’s the Stock Exchange operates the Alternative Investment Market and for international companies that fall outside the EU, it operates the Depository Receipt scheme as a way of listing and raising capital.

        5. Shanghai Stock Exchange:-

                                                It is the world’s 5th largest stock market by market capitalization and one of the two stock exchanges operating independently in the People’s Republic of China. Unlike the Hong Kong Stock Exchange, the SSE is not entirely open to foreign investors. The main reason is tight capital account controls by Chinese authorities. The securities listed at the SSE include the three main categories of stocks, bonds, and funds. Bonds traded on SSE include treasury bonds, corporate bonds, and convertible corporate bonds. The largest company in SSE is PetroChina (market value – 3,656.20 billion).

        6. Hong Kong Stock Exchange:-

                                                   It is the third largest stock exchange in Asia and the sixth largest in the world in terms of market capitalization. Hong Kong Stock Exchange (SEHK) has about 1,477 listed companies and it operates securities market and a derivatives market in Hong Kong and the clearing houses for those markets. The three largest stocks by market capitalisation in Hong Kong Stock Exchange are PetroChina, Industrial & Commercial Bank of China, and China Mobile. 

       7. Toronto Stock Exchange:- 

                                               It is the largest stock exchange in Canada and the third largest in North America. Toronto Stock Exchange is owned by and operated as a subsidiary of the TMX Group for the trading of senior equities. A broad range of businesses from Canada, the United States, Europe, and other countries are represented on the exchange. The exchange lists conventional securities, exchange-traded funds, split share corporations, income trusts and investment funds. Toronto Stock Exchange is the leader in the mining and oil & gas sector, including such companies like Cameco Corporation, Canadian Natural Resources Ltd., EnCana Corporation, Husky Energy Inc., Imperial Oil Ltd., and others. 

       8. BM&F Bovespa:- 

                         Founded in 1890, today BM&F Bovespa is the largest stock exchange in South America and 8th largest in the world by market capitalization. It is the most important Brazilian institution to intermediate equity market transactions and the only securities, commodities and futures exchange in Brazil. BM&F Bovespa acts as a driver for the Brazilian capital markets. There are about 381 listed companies at Bovespa and its benchmark indicator is the Indice Bovespa. 

      9. Australian Securities Exchange:-

                                              The Australian Securities Exchange is Australia’s primary securities exchange and it was created back in 2006 when the merger of Australian Stock Exchange and the Sydney Futures Exchange took place. Today Australian Securities Exchange is 9th largest stock exchange in the world by market capitalization and has an average daily turnover of 4,685 billion dollar. Products and services available for trading on ASX include shares, futures, exchange traded options, warrants, contracts for difference, exchange-traded funds, real estate investment trusts, listed investment companies and interest rate securities. The major market index is the S&P/ASX 200. 

     10. Deutsche Börse:-

                                 Deutsche Börse is one of the world’s leading exchange organisations providing investors, financial institutions and companies access to global capital markets. The exchange covers the entire process chain from securities and derivatives trading, clearing, settlement and custody, through to market data and the development and operation of electronic trading system. Deutsche Börse has an approximately 765 listed companies with a combined market capitalization of 1,185 trillion USD.

Market & Trading Shedule Of National Stock Exchange

• Market:-

  Currently, NSE has the following major segments of the capital market:
  Equities
• Equities
• Indices
• Mutual Funds
• Exchange Traded Funds
• Initial Public Offerings
• Security Lending and Borrowing Scheme

Derivatives

• Equity Derivatives (including Global Indices like S&P 500, Dow Jones and FTSE )
• Currency Derivatives
• Interest Rate Futures

Debt

• Retail Debt Market
• Wholesale Debt Market
• Corporate Bonds

Equity Derivatives The National Stock Exchange of India Limited (NSE) commenced trading in derivatives with the launch of index futures on June 12, 2000. The futures and options segment of NSE has made a mark for itself globally. In the Futures and Options segment, trading in S&P CNX Nifty Index, CNX IT index, Bank Nifty Index, Nifty Midcap 50 index and single stocks are available. Trading in Mini Nifty Futures & Options and Long term Options on S&P CNX Nifty are also available. The average daily turnover in the F&O Segment of the Exchange during 2009-10 was ` 72,392 crore (US $ 16,097 million)
On August 29, 2011, National Stock exchange launced derivative contracts on the world’s most followed equity indices, the S&P 500 and the Dow Jones Industrial Average. This was the first time that derivative contracts on global indices are available in India. This is the also the first time in the world that futures contracts on the S&P 500 index were introduced and listed on an exchange outside of their home country, USA. The new contracts include futures on both the DJIA and the S&P 500, and options on the S&P 500. The first day volumes at the close of trading on August 29, 2011 at 3.30 pm, on the 2 indices in futures and options contracts was nearly Rs 122 crores (1220 million).
On May 3, 2012,The National Stock exchange launched derivative contracts (futures and options) on FTSE 100, the widely tracked index of the UK equity stock market. This was the first of its kind for an index of the UK equity stock market to be launched in India. FTSE 100 includes 100 largest UK listed blue chip companies and has given returns of 17.8 per cent on investment over three years. The index constitutes 85.6 per cent of UK’s equity market cap. NSE recorded a volume of 500 crores (5000 million) on the 1st day of trading.
Currency Derivatives In August 2008 currency derivatives were introduced in India with the launch of Currency Futures in USD INR by NSE. It also added currency futures in euros, pounds and yen. Interest Rate Futures were introduced for the first time in India by NSE on 31 August 2009, exactly one year after the launch of Currency Futures.
Debt Market NSE became the first stock exchange to get approval for interest rate futures, As recommended by SEBI-RBI committee, on 31 August 2009, a futures contract based on 7% 10 Year Government of India (Notional) was launched with quarterly maturities.

 

•  Trading Shedule:-

 Trading takes place on all days of the week except Saturdays & Sundays. The market timings are as follows:

• (1) Pre-open session (Regular)
  • Order entry & modification Open: 09:00 hrs
  • Order entry & modification Close: 09:08 hrs^*

^*with random closure in last one minute. Pre-open order matching starts immediately after close of pre-open order entry.

• (2) Pre-open Session for IPO and Relist Securities
  • Order entry & modification Open: 09:00 hrs
  • Order entry & modification Close: 09:45 hrs^*

^*with random closure in last one minute. Pre-open order matching starts immediately after close of pre-open order entry.

• (3) Regular trading session
  • Normal Market Open: 09:15 hrs
  • Normal Market Close: 15:30 hrs

Block deal session is held between 09:15 hrs and 09:50 hrs.

• (4) The Closing Session is held between 15.40 hrs and 16.00 hrs.

The Exchange may also extend, advance or reduce trading hours when its deems fit and necessary.

Origins and Objectives Of National Stock Exchange

• Origins:-

                 The National Stock Exchange of India was set up by Government of India on the recommendation of Pherwani Committee in 1991.Promoted by leading Financial institutions essentially led by IDBI at the behest of the Government of India, it was incorporated in November 1992 as a tax-paying company. In April 1993, it was recognized as a stock exchange under the Securities Contracts (Regulation) Act, 1956. NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital market (Equities) segment of the NSE commenced operations in November 1994, while operations in the Derivatives segment commenced in June 2000.

• Objectives:-

                        
  
  
  1. Establishing nationwide trading facilities for all types of securities.
  2. Ensuring equal access to investors all-over the country through an appropriate communication network.
  3. Meeting international benchmarks and standards.
  4. Enabling shorter settlement cycles and book entry settlements.

   

National Stock Exchange(NSE) Of India.

 Introduction :-
                     

                        National Stock Exchange of India is one of the leading exchanges in the world on several key parameters. Number of contracts traded relate directly to the technology and liquidity of the exchange. NSE ranks in top 3 globally for Stock Futures and Index Futures and Options. Technology at the exchange remains backstage to fulfill the demand for capacity, reliability and performance ensuring the competitive edge of NSE as India’s number one exchange platform.



Core Trading System :-
                      
                         The core trading applications of NSE run on fault tolerant servers sourced from Stratus Technologies. Earlier generation of trading system was highly dependent on the growth of microprocessor industry for improved scalability. This was creating speed breakers in the growth demanded by Indian market participants. Some time back NSE architect-ed the trading system to achieve unlimited scalability. The system now has a multi layer architecture is designed for unlimited scalability at every layer. Each layer of Trading system can be scaled up by adding more hardware to the layer. The re-architectonic of the system has eased out meeting the ever growing capacity needs of Trading. This application extensively uses in-memory database technology to provide for performance needs expected from a Matching system. The matching engine response time can be measured in single digit millisecond for the thousands of transactions processed by the system every second. To complement the matching engine speed, Market Data is generated and distributed at a very high refresh frequency. Using the Multicasting the market data access is accessible to all trading members almost simultaneously.

                    NSE provides its customers a feature packed Trader Work Station (TWS) two Front-ends, NEAT & NEAT PLUS for all the market segments. Apart from distributing its own front end NSE also publishes the protocol that can be used by Independent Software Vendors as well as Sell Side firms to develop their own in-house systems.

Achivements Of Bombay Stock Exchange (BSE)

                    At par with international standards, BSE Ltd. has been a pioneer in several areas over the decades and has many firsts and key achievements to its credit. BSE is the first exchange in India to :

• Launch a special platform for trading in SME securities
• Introduce Equity Derivatives
• Launch a Free Float Index - SENSEX
• Launch Exchange Enabled Internet Trading Platform
• Obtain ISO certification for a stock exchange
• Exclusive facility for financial training – BSE Institute Ltd.
• Launch its website in Hindi and regional languages
• Host the popular opening-bell ceremony in Indian capital markets
• Launch mobile-based trading in India in Sept 2010
• Become securities market infrastructure member of SWIFT in India and provide corporate actions to custodians in ISO 15022 format
• Launched SENSEX Realized Volatility (REALVOL) Index in Nov 2010 

                   Besides the above, BSE has taken large strides in product and service innovation for the benefit of its members and investors, notable ones being  :

• Launch of a reporting platform for corporate bonds
• Launch of the BSE IPO index and PSU website
• Revamp of its website with wide range of new investor-friendly features
• Launch of trading in SENSEX futures on EUREX and leading exchanges of the BRICS nation bloc
• Launched Smart Order Routing for members and investors
• Introduced SACT (SMS alert & Complaint Tracking system)
• Launched co-location facility at BSE premises in November 2010

• Reduction in membership fees to Rs. 10 lakh for new memberships to promote financial access and inclusion
• Launch of web-based mutual fund trading platform for investors

Bombay Stock Exchange(BSE)

 Introduction :-

                     Established in 1875, BSE Ltd. (formerly known as Bombay Stock Exchange Ltd.), is Asia’s first Stock Exchange and one of India’s leading exchange groups. Over the past 137 years, BSE has facilitated the growth of the Indian corporate sector by providing it an efficient capital-raising platform. Popularly known as BSE, the course was established as "The Native Share & Stock Brokers' Association" in 1875.

                      BSE is a corporates and demutualised entity, with a broad shareholder-base which includes two leading global exchanges, Deutsche Bourse and Singapore Exchange as strategic partners. BSE provides an efficient and transparent market for trading in equity, debt instruments, derivatives, mutual funds. It also has a platform for trading in equities of small-and-medium enterprises (SME). Around 5000 companies are listed on BSE making it world's No. 1 exchange in terms of listed members. The companies listed on BSE Ltd command a total market capitalization of USD Trillion 1.06 as of May 15, 2012. BSE Ltd is world's fifth most active exchange in terms of number of transactions handled through its electronic trading system. It is also one of the world’s leading exchanges (5th largest in May 2012) for Index options trading (Source: World Federation of Exchanges).

                      BSE also provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments. BSE is the first exchange in India and second in the world to obtain an ISO 9001:2000 certification. It is also the first Exchange in the country and second in the world to receive Information Security Management System Standard BS 7799-2-2002 certification for its On-Line trading System (BOLT).

                    It operates one of the most respected capital market educational institutes in the country (the BSE Institute Ltd.). BSE also provides depository services through its Central Depository Services Ltd. (CDSL) arm.

150th Birth Anniversary Of "Swami Vivekananda"

                      A patriotic saint, a man who stood tall both literally and figuratively and created ripples not only in India but also in the West, Swami Vivekananda was much more than a religious figure. In my opinion, he is the greatest saint India has seen. “Arise, awake and stop not that till the goal is reached” was his clarion call to the youth and it’s a message that resonates with us even today.

                      Yesterday, India celebrated National Youth Day on the occasion of Vivekananda’s birth anniversary. It was his 150th Birth Anniversary, and it’s worth wondering whether Vivekananda remains relevant to the youth of India. Has he faded into oblivion? Sadly, yes. And yet, he remains an inspirational figure. He was a man who went across nations spreading knowledge. From Mahatma Gandhi to Rabindranath Tagore to Margaret Elizabeth, Vivekananda was held in high regard by one and all. Gandhi once said, “My love for India has become a thousandfold after thorough reading of Swami Vivekananda.”

                      Vivekananda was absolutely fearless. He used to say, “Fly from evil and terror and misery, and they will follow you. Face them and they will flee.” He understood that undertaking any social change needed enormous energy and will, which was why he called upon the youth to not only hone their intellect, but also build upon physical prowess. “It would be better to play football than read the Gita...” is one of his controversial statements and it’s bound to resonate with Young India today. After all, our vision of India’s youth is similar to his: strong, fearless and independent. Incidentally, the above speech inspired Kolkata boys to earnestly take up football and these efforts culminated with a barefoot Mohun Bagan team defeating the Eastern Yorkshire Regiment team to become the first Indian team to win the IFA Shield in 1911.

                     Another one of Vivekananda’s missions was in the field of education. Did you know that the Indian Institute of Science, Bangalore has a Vivekananda connection? Jamsetji Tata and Vivekananda accidentally met on a ship and discussed Tata’s plans to bring the steel industry to India. Impressed by Vivekananda’s views on science and leadership abilities, Jamsetji wanted him to lead this project. Vivekananda endorsed the project and Tata, with the aim of developing the country’s scientific capabilities, constituted a Provisional Committee to prepare a plan to set up an institute of research and higher education.

“Give me 100 energetic young men and I shall transform India”, Vivekananda had said. His faith in the Indian youth never wavered. “My faith is in younger generation, modern generation. Out of them will come my workers. They will work out whole problems like lions.” He believed and lived by the ideals of Tyaga (Sacrifice) and Seva (Service).

                     Vivekananda died at the age of 39. In less than four decades, he achieved greatness and impacted millions not just in India but all over the world. Here was a man who reached out to the youth with what he said, what he did and what he preached.

Govt ready to take tough decisions on CAD, Budget 2013 montek singh ahluwalia

In an exclusive interview to CNBC-TV18, Planning Commission deputy chairman indicates that the governmt was ready to get tough on CAD in Budget-FY14

Explaining the government's proposal to hike diesel prices among other initiatives, Planning Commission deputy chairman Montek Singh Ahluwalia indicated that the petroleum ministry is likely to decide on the fuel hikes in about two weeks' time. He called for the need of a graduated adjustment on fuel prices as the current account deficit (CAD) was a key worry for the government at this point of time.

In an exclusive interview to CNBC-TV18, Ahluwalia said that government expects to bring down the CAD to 3-percent of GDP in the next two-to-three years and was willing to take tough decisions in this regard. He signaled that the Budget would contain measures to speed up the implementation of infrastructure projects, boost GDP growth to 8 percent in two-to-three years and lure adequate inflows to finance the current account deficit.

The Planning Commission deputy chairman pointed out that spectrum auctions need not be viewed as a capital receipt  and that the reserve price signaled the minimal expectations from the government. He added that the commission was examining the issues hindering the award of projects by NHAI and called for the need of procedural improvement to speed up the award of projects.

The Prime Minister is focusing on power projects suffering from linkage issues and highlighted the necessity to streamline environment clearances for execution of projects. Commenting on power-generation capacities, Ahluwalia said that the mismatch in production at Coal India was a key hindrance and added that coal price-pooling issue is under consideration at this point of time

"Do not expect a further deceleration in GDP growth. The GDP growth in the second half of FY13 will definitely be higher than the first."

Before you invest in stocks which results FMCG

Financial year 2013 third quarter results season has begun. How will the results of FMCG stocks to invest in and gain profits on which research analyst at Sharekhan mr.  kaustubh pawaskar (Research Analyst at Sharekhan) join on linkedin gave their opinions.

Kaustubh pawaskar like that second quarter earnings will remain strong in FMCG companies. FMCG sales growth is estimated at 15 per cent. The net profit is expected to increase by 20 per cent.

Growth in sales volume growth will remain strong and will benefit companies to raise prices. Will benefit from a reduction in raw material prices. Reduction in raw material prices, the margin improvement is possible. Increase in prices will also support margins.

FMCG companies increased advertising expenses in the second quarter, which may be followed by a slight decrease in operating margin.

FMCG companies Unilever and ITC's growth is expected to remain intact. Their sales and profit growth of 15 per cent is possible. GSK Consumer, Marico and 25 per cent of the profits 25 per cent rise in profits is. Bajaj Corp could also do well.

Shopping for FMCG companies like Godrej Consumer Product, GSK Consumer, sara't Russell, ITC preferred shares. HUL valuation are quite expensive at the moment do not buy it. IT has the potential to increase. Budget duty on cigarettes is likely to rise in the stock may decline. Shop in stock at this time every fall.

According to the ITC with a target of Rs 324 kaustubh pawaskar shopping can be. Target of Rs 796 in Godrej Consumer Product can be. GSK Consumers can go up to Rs 3,900 and target of Rs 381 in Russell sara't shopping can be placed.