The stock quoted a 52-week high price of Rs 170.0 and a 52-week low of Rs 81.25.
In the spot market, highest purity gold was sold at Rs 46,282 per 10 gram while silver was priced at Rs 59,714 per kg on Monday, according to the Indian Bullion and Jewellers Association.
"We believe Beijing would only be compelled to step in if there is a far-reaching contagion causing multiple major developers to fail and posing systemic risks to the economy," the rating agency said in a note dated Sept 20.
A major test comes this week, with Evergrande due to pay $83.5 million in interest relating to its March 2022 bond on Thursday. It has another $47.5 million payment due on Sept. 29 for March 2024 notes.
“Once recovery begins, India will be dynamic enough to sustain for a few years.â€
The top five smallcap schemes — Quant Smallcap Fund (up 110 per cent), Kotak Smallcap Fund (up 96 per cent), L&T Emerging Businesses Fund (up 89 per cent), HDFC Smallcap Fund (up 88 per cent) and Nippon India Small Cap Fund (up 88 per cent) — have delivered up to 110 per cent returns in last one year.
“We may just get caught in the crossfire. Our economy may be doing okay in comparison but we will get impacted by liquidity, the same way we got positively impacted by liquidity in the last one year. â€
In an alert to investors, the SEC detailed the potential risks in putting money into US-listed companies that have contracts with but no control over a Chinese entity, known as a variable interest entity (VIE). It is the most recent move by the agency to address concerns that Chinese companies are flouting rules for accessing US markets.
“There is a fear that a default by Evergrande could drag down the Chinese banking system. It is unlikely because if a capitalist country like the US managed to save the banking industry and the economy, there is no doubt that China, which is a controlled country, will see the government step in and Evergrande probably either would be nationalised or subsidised.â€
ICICIdirect said any near-term fall would be an opportunity to buy stocks. It said the index has been following a specific rhythm since April 2020 wherein the magnitude of each major rally has been around 33 per cent, containing in between corrective phases of 5-6 per cent.
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