Heard on the Street
Going short on real estate stock is probably one of the easiest ways to make a quick buck in current market conditions
Bears active on realty stocks
Going short on real estate stock is probably one of the easiest ways to make a quick buck in current market conditions. But stocks in this segment with low-floating stock are best avoided, as some bear traders at the Akruti City counter are finding to their cost.
Market watchers say bears said to be some institutional investors along with local operators were not expecting bulls to stage a sudden counter attack and were completely cornered. Akruti rose 8% to close at Rs 859 on Tuesday. It stock has gained about 38% over the last one month, whereas peers like DLF and Unitech have shed 40% and 25%, respectively, during the same period.
Upward revision of AMC net worth likely
The Mutual Fund Advisory Committee of Sebi has appointed a sub-committee to review the current AMC net worth requirements. The committee, which has been recently set up, comprises some of the leading fund houses in the country and is likely to submit its report shortly.
Contributed by Apurv Gupta & Reena Zachariah
Going short on real estate stock is probably one of the easiest ways to make a quick buck in current market conditions. But stocks in this segment with low-floating stock are best avoided, as some bear traders at the Akruti City counter are finding to their cost.
Market watchers say bears said to be some institutional investors along with local operators were not expecting bulls to stage a sudden counter attack and were completely cornered. Akruti rose 8% to close at Rs 859 on Tuesday. It stock has gained about 38% over the last one month, whereas peers like DLF and Unitech have shed 40% and 25%, respectively, during the same period.
Upward revision of AMC net worth likely
The Mutual Fund Advisory Committee of Sebi has appointed a sub-committee to review the current AMC net worth requirements. The committee, which has been recently set up, comprises some of the leading fund houses in the country and is likely to submit its report shortly.
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The upward revision of net worth requirement for an asset management company was among the points discussed at the last Mutual Fund Advisory Committee meeting. Currently, Sebi regulations require AMCs to have a minimum net worth of Rs 10 crore of which 40% would be contributed by the sponsor. In 1996, the requirement of an AMC net worth was raised from Rs 5 crore to Rs 10 crore.Contributed by Apurv Gupta & Reena Zachariah
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