Fri, Apr 19, 2024 4:10 PM
Stock market today: US futures pare losses as Israel attack shock ebbs
A Flip by Avya Verma
Cenovus Energy (NYSE:CVE) (TSE:CVE) is a Canadian oil and gas company, with the majority of its production in the oil sands of Alberta. The company trades at 28.7x my estimate of normalized earnings, higher than its current P/E ratio. And with WTI Crude Oil (CM:CL) prices far above their inflation-adjusted average, caution is warranted.
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Shares of Sun Pharma Advanced Research Company (SPARC) Ltd. snapped a 14-day losing streak, to gain as much as 4% on Thursday. In the 14-day losing streak, the stock was locked in a lower circuit of 5% in 13 of them. Shares had opened lower on Thursday as well before recovering the losses to trade higher. During the 14-day losing streak, the stock had declined by 49%.
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SEBI on Wednesday made the nomination optional for jointly-held MF accounts in a bid to promote EODB. Additionally, Sebi allowed fund houses to have a single fund manager to oversee commodity and foreign investments. This would reduce the cost of managing the fund. These came after a working group constituted by Sebi reviewed MF regulations and recommended measures to promote EODB.
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