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The condition of a young woman of African origin, who is the sixth reported case of <keyword id="7616951" type="General" weightage="100" keywordseo="monkeypox" source="Orion">monkeypox</keyword> in Delhi, is stable, sources said. The patient is admitted to the <keyword id="6394484" type="General" weightage="80" keywordseo="lnjp-hospital" source="Orion">LNJP Hospital</keyword> here. "A total of six cases of monkeypox have been reported in Delhi so far. The latest is a young woman of African origin. Her condition is stable at present," a source said. The six cases comprise three men and three women. "The early five cases have been treated and discharged," a senior doctor said. Monkeypox is a viral zoonotic disease having common symptoms such as fever, skin lesions, lymphadenopathy, headache, muscle aches, exhaustion, chills or sweats and sore throat and cough. According to a study done recently by the Lok Nayak Jai Prakash Narayan Hospital (LNJP) and the <keyword id="6364555" type="General" weightage="50" keywordseo="indian-council-of-medical-research" source="Orion">Indian Council of Medical Research</keyword> (<keyword id="6364396" type="General" weightage="50" keywordseo="icmr" source="Orion">ICMR</keyword>), all the first five cases had presented with "mild to moderate grade intermittent fever, myalgia (muscle pain) and lesions on the genitals, groins, lower limb, trunk and upper limb". Four cases had non-tender firm lymphadenopathy (swelling of lymph nodes). No secondary complications or sexually transmitted infections were recorded in these cases except for Hepatitis B in one case, it had said. In Delhi, the first case of monkeypox was reported on July 24. Delhi government-run LNJP Hospital has been made the nodal facility to treat patients with this viral infection. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/exams-results-major-cause-of-anxiety-among-school-students-ncert-survey/articleshow/94041766.cms">Exams, results major cause of anxiety among school students: NCERT survey</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tamilnad-mercantile-bank-ipo-is-subscribed-1-53-on-day-2-grey-market-premiums-fall/articleshow/94032064.cms">Tamilnad Mercantile Bank IPO is subscribed 1.53% on day 2, grey market premiums fall</a>

Sixth monkeypox case: Patient in stable condition at LNJP Hospital

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Brokerage firm Sidoti &amp; Company will literally never put a sell rating on a stock, according to the <a href="http://www.wsj.com/articles/as-brokerage-preps-for-ipo-the-negatives-are-lacking-1433892596">Wall Street Journal. </a>That is because it's against company policy to publish negative research about another company. A whistleblower filed a complaint about this to the SEC, and the Journal reviewed internal documents that support what the whistleblower claims. And the claims are:<ul><li>Sidoti analyst bonuses are decided not based on the quality of their research, but the number of meetings with companies and executives that mean more business for Sidoti on the trading side.</li><li>Sidoti would never publish research that told clients to "sell" or "short", but might say a stock was "overvalued" or "neutral" and then change the stock's price target.</li></ul>Sidoti, you should know, has filed for a $35 million IPO. So perhaps in the near future, since it's unclear if the SEC has done anything about these claims, you could put a "buy", "sell" or "neutral" rating on the stock.You can check out Sidoti's most recent IPO, paperwork, filed May 4th, r<a href="http://www.sec.gov/Archives/edgar/data/1622668/000157104915003564/t1500072-s1a.htm">ight here.</a> If you get to page 14, they let you know that their rating system might be a little complicated [emphasis ours]:Because our rating system consists of only two ratings, "BUY" and "NEUTRAL", but no "SELL" rating, our clients may not fully appreciate our analyst's view of a covered company unless careful attention is paid to the accompanying price targets and the full research report. ...For example, a NEUTRAL rating could be applicable to a company about which our analyst may have a relatively negative view. Because we do not have a "SELL" or "NEGATIVE" rating, there is the potential for investor confusion. We include relevant disclosure of this fact in each of our research reports, but it is possible an investor will nevertheless misunderstand our rating system.So there's that.If this sounds familiar to anyone who was around Wall Street in the 1990s during the dot com boom (when Sidoti was founded) you might be familiar with this game. Back then, banks like Morgan Stanley and Citi were handed millions in fines for placing positive ratings on a company's stock in order to please management and drum up more business for the bank.<a href="http://www.wsj.com/articles/as-brokerage-preps-for-ipo-the-negatives-are-lacking-1433892596">More on this over at the WSJ&gt;&gt;</a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/new-omega-globemaster-watch-unboxing-2015-5">Forget the Apple Watch - here's the new watch everyone on Wall Street wants</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="5iaDNwdDrYYMm2yipFb14ndbRkPnemqO" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

There's a Wall Street firm that will literally never tell you to sell

<ul><li>Markets gained during the week after losing ground for the previous two consecutive weeks.</li><li><keyword id="91748" type="General" weightage="50" keywordseo="indian-rupee" source="Orion">Indian Rupee</keyword> gained 22 paisa or 0.28 per cent to close at Rs 79.58. </li><li>Shares which were issued at Rs 326, saw a discovered price of Rs 505 on <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword>, a high of Rs 550 and closed at Rs 462.65. </li></ul>Markets gained during the week after losing ground for the previous two consecutive weeks. BSESENSEX was up 989.85 points or 1.68 per cent to close at 51,793.18 points. <keyword id="6354813" type="General" weightage="50" keywordseo="nifty" source="Orion">NIFTY</keyword> gained 293.90 points or 1.68 per cent to close at 17,833.35 points. The broader indices saw BSE100, BSE200 and BSE500 gain 1.60 per cent, 1.67 per cent and 1.73 per centrespectively. BSEMIDCAP was up 1.86 per cent while BSESMALLCAP was up 2.53 per cent. Indian Rupee gained 22 paisa or 0.28 per cent to close at Rs 79.58. Dow Jones lost on the first two days and then gained on the remaining three days to end the week with gains of 833.27 points or 2.66 per cent to close at 32,151.71 points. In primary news, there was one listing, one issue which had opened for subscription and also closed and a third which had its roadshow. The issue from Dreamfolks Services Limited listed on Tuesday and fared well on expected lines. Shares which were issued at Rs 326, saw a discovered price of Rs 505 on BSE, a high of Rs 550 and closed at Rs 462.65. By Friday, shares lost some ground and closed lower at Rs 430.80. The issue from Tamilnad Mercantile Bank had tapped the markets with its fresh issue in a price band of Rs 500-525. The issue was subscribed 2.85 times with QIB portion subscribed 1.62 times, HNI portion was subscribed 2.94 times and Retail portion was subscribed 6.43 times. There were 1.33 lakh applications. Considering the issue, the response from QIB's could at best be said as tepid. The issue from Harsha Engineers Limited opens on Wednesday the 14th of September and closes on Friday the 16th of September. The price band is Rs 314-330. The company makes bearing cages as its key product and supplies to leading bearing manufacturers not only in India but also globally. Japanese manufacturers have begun to buy from Harsha and this could be a big boost in revenues going forward. The company reported revenues of Rs 1,321.48 crore for the year ended March 2022 and a profit after tax of Rs 91.94 crore. The PE at the top end of the band is 27.73 times. The company has undergone a restructuring exercise and has amalgamated all its businesses under one name. This has diluted the equity to some extent and while the basic EPS for the year ended March 22 was 16.06, on a diluted basis it works out to Rs 11.09. The share and the business look attractive. Coming to the markets in the week ahead, our markets would find strong resistance at the 17,750-800 levels and 59,450-59,550 levels. While we have almost closed at the above levels, we need to break out of them and sustain at higher levels. In case they do manage to break these levels for any reason, the previous tops made at 18,000 and 60,400 would be very strong resistances in the period coming up. Strong support exists at 17,350 and 58,200. If these break then the next level would be 17,000-17,050 and 57,250-57,350. For a clear trend to emerge, 17,000 and 57,250 on the lower side and 18,000 and 59,550 on the upper side need to be decisively broken. Currently we have no news or momentum in the markets to break these levels. The strategy would be to buy on dips and sell on rallies. One interesting development that has taken place in the last week, was that shorts in the futures were squared off to a large extent and to that effect markets have become hollow. In case there is any bad news and markets take a beating, the fall could become sharper than expected. Trade cautiously. (Arun <keyword id="6358183" type="General" weightage="100" keywordseo="kejriwal" source="Orion">Kejriwal</keyword> is the founder of <keyword id="715020" type="General" weightage="50" keywordseo="kejriwal-research-and-investment-services" source="Orion">Kejriwal Research and Investment Services</keyword>. The views expressed are personal) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tamilnad-mercantile-bank-ipo-how-to-check-allotment-status/articleshow/94138952.cms">Tamilnad Mercantile Bank IPO: Here’s how you can check the allotment status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/one-person-dying-every-44-seconds-due-to-covid-who-chief/articleshow/94131553.cms">One person dying every 44 seconds due to Covid: WHO chief</a>

The market strategy would be to buy on dips and sell on rallies: Arun Kejriwal

Welcome to <keyword id="11937554" type="UNKNOWN" weightage="60" keywordseo="10-things" source="Orion">10 Things</keyword> Before the Opening Bell. If this was forwarded to you, <a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">sign up here.</a> Plus, download Insider's app for news on the go - <a href="https://apps.apple.com/app/apple-store/id554260576?pt=385758&amp;ct=06292021_newsletters&amp;mt=8amp;mt=8">click here for iOS</a> and<a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider"> here for Android</a>.Let's jump in.1. Stocks are on pause after record highs, with focus now firmly on Jackson Hole. The countdown is on for Fed chief Jerome Powell's speech and any hints on tapering, while longer-term, UBS's stock chief predicts <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp-500-stocks-earnings-economy-fed-2021-8">the S&amp;P 500 could see a 12% jump</a> next year. <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-us-futures-sp500-nasdaq-jerome-powell-jackson-hole-2021-8">Check out the latest moves on the market</a>.2. The SEC is demanding new disclosures from Chinese companies that want a US stock listing. Regulators want to highlight potential risks for investors buying into Chinese companies' IPOs. <a href="https://markets.businessinsider.com/news/stocks/sec-china-ipo-rules-disclousre-requirements-chinese-companies-2021-8">Read the latest development in the Chinese government crackdown saga.</a>3. Reddit retail investors have set their sights. AMC and Gamestop have remained popular as meme stocks continue to heat up among Redditors. <a href="https://www.businessinsider.com/reddit-best-meme-stocks-today-tesla-amc-gamestop-alibaba-nvidia-2021-8">These are the 16 hottest meme stocks right now.</a>4. On the docket: Salesforce, Royal Bank of Canada, and Ulta Beauty, all <a href="https://markets.businessinsider.com/earnings-calendar">reporting.</a> 5. One of the best value investors in history missed out on a potential $400 million gain after selling off GameStop and AMC before the meme-stock boom. Joel Greenblatt's fund had owned as many as 1.2 million GameStop shares and 550,000 AMC shares. <a href="https://markets.businessinsider.com/news/stocks/joel-greenblatt-gotham-asset-management-gamestop-amc-meme-stocks-windfall-2021-8">See the other market veterans that missed out on the meme-stock surge. </a>6. Mark Cuban urged SEC chair Gary Gensler to clarify market rules and engage with retail investors. In a Twitter thread, Cuban criticized Gensler for posturing about market safety and failing to understand the needs of retail investors. <a href="https://markets.businessinsider.com/news/stocks/mark-cuban-sec-gary-gensler-wall-street-regulations-retail-investors-2021-8">Read Cuban's full comments here. </a>7. Citi is looking to start trading bitcoin futures, following Goldman Sachs's lead as demand for crypto surges. A new report says Citi aims to trade bitcoin futures contracts on the Chicago Mercantile Exchange, and currently awaits regulatory approval. The move is another signal of <a href="https://markets.businessinsider.com/news/currencies/citigroup-bank-crypto-bitcoin-futures-ethereum-goldman-sachs-cme-derivatives-2021-08">how crypto is going mainstream. </a>8. Cathie Wood's Ark Invest added to its JD.com stake after strong Q2 earnings. Wood's new acquisitions signal bullishness on Chinese tech stocks despite regulatory crackdowns. <a href="https://markets.businessinsider.com/news/stocks/cathie-wood-china-tech-stocks-jd-com-q2-earnings-regulation-2021-8">This is how Wood sees China's stocks moving next. </a>9. The CIO of a $1 billion crypto index fund is "extraordinarily bullish" on ether. Ether has soared 345% this year, far outperforming bitcoin and giving Matt Hougan's firm a huge boost. <a href="https://www.businessinsider.com/ether-ethereum-bullish-cardano-solana-crypto-strategy-bitwise-matt-hougan-2021-8">These are two reasons why he's betting on ether - and how he feels about rival tokens. </a>10. Bank of America shared the stocks that fund managers are picking over Apple, Amazon, and Tesla. Funds are increasingly bullish on a handful of select stocks, and showed less love to five of the eight biggest stocks in the world, including Microsoft and Berkshire Hathaway. <a href="https://www.businessinsider.com/stocks-to-buy-amazon-apple-microsoft-tesla-bank-of-america-2021-8">See the 10 stocks these funds have bought into.</a>Compiled by Phil Rosen. Feedback? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.Sign up for <a href="https://www.businessinsider.com/subscription/newsletter">more Insider newsletters here</a>.

10 things before the opening bell

Markets during the last week saw wild gyrations with the first three days seeing a sharp dip followed by a more than equally sharper rise and then yet another dip, to be back on neutral ground. Friday was a nothing day and markets ended marginally up. The week ended with a small negative bias and in what could be termed a highly volatile week. BSESENSEX lost 30.54 points or 0.05 per cent to close at 58,803.33 points while <keyword id="6354813" type="General" weightage="50" keywordseo="nifty" source="Orion">NIFTY</keyword> lost 19.45 points or 0.11 per cent to close at 17,539.45 points. The broader markets saw BSE100, BSE200 and BSE500 gain 0.20 per cent, 0.29 per cent and 0.38 per cent respectively. BSEMIDCAP gained 1.37 per cent while BSESMALLCAP was up 1.35 per cent. The <keyword id="91748" type="General" weightage="50" keywordseo="indian-rupee" source="Orion">Indian Rupee</keyword> gained 6 paisa or 0.08 per cent to close at Rs 79.80 to the US Dollar. Dow Jones continued to remain under pressure and lost on four of the five trading sessions. It lost 964.96 points or 2.99 per cent to close at 31,318.44 points. It is now down 13.81 per cent on a year-to-date basis. On a similar comparison, the Indian benchmark indices are up about one percent. India is now the world's fifth largest economy. It squeezed out the United Kingdom. GST collections for the month of August were at 1,43,612 crore. This is the sixth consecutive month that the collection is at Rs 1.40 lakh crore or higher. The primary market sees the issue from <keyword id="7111922" type="General" weightage="50" keywordseo="tamilnad-mercantile-bank-limited" source="Orion">Tamilnad Mercantile Bank Limited</keyword> tapping the markets with its fresh issue of 1,58,40,000 equity shares in a price band of Rs 500-525. The issue would raise Rs 792- 831.6 crore at the price band. The issue opens on Monday the 5th of September and closes on Wednesday the 7th of September. On Friday, the company completed allocation to anchor investors of 71,28,000 shares at Rs 510. In the last couple of years, one doesn't recall that the anchor book or allocation has been made at a price lower than the top end. Coming to the bank's performance, it is a 100-year-old private bank dominant in the state of <keyword id="20154" type="General" weightage="80" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>. In terms of business as much as 75 per cent comes from the state of Tamil Nadu. The next chunk of business comes from the states of Maharashtra, <keyword id="37102" type="General" weightage="80" keywordseo="andhra-pradesh" source="Orion">Andhra Pradesh</keyword>, Karnataka and Gujarat which contribute about 16 per cent. The bank has grown very significantly during the Covid-19 pandemic. Its EPS has doubled from 2019-20 to 2021-22 from Rs 28.61 to Rs 42.34 and finally to Rs 57.67. It has a decent asset quality as well. Its gross NPAs were at 1.69 per cent while net NPAs were at 0.95 per cent for the year ended March 2022. The shares which are being offered at a price band of Rs 500-525 have a PE multiple of 8.67-9.10 times its FY 22 earnings. In terms of book value, the same is at Rs 374.41, which makes the issue at 1.4 times price to book. Looking at the allotment of anchors, it becomes clear that effectively the new price band is now Rs 500-510 and shares would be allotted at Rs 510. Readers may apply for the shares of the bank considering its fundamentals and pedigree, considering it's a 100-year-old bank. There may be limited upside on listing and investors should apply only for the medium term. Considering its peer group, the bank is adequately priced. There is a change introduced in the bidding process for IPOs with effect from 1st September. Bids made would have to be blocked by the end of the day before the final subscription figures are announced. This is in relation to the hue and cry that was raised where one saw thousands of applications not being banked post being bid. It was also noticed that issues which were subscribed at the end of the bidding time were actually undersubscribed post the final figures. This would put an end to bidding by investors who wanted to eat the cake and have it. Coming to the markets in the week ahead, we would see volatility continuing. While FPIs were buyers largely on most days in August, this is not the case in September and they were sellers as well. Things are not the best in US markets and the 75 basis points hike in the meeting to be held on September 20-21 is a foregone conclusion. What and how the markets react would be based on the commentary post the meeting outcome. Our markets would find strong resistance at the 17,750-800 levels and 59,450-59,550 levels. In case they do manage to break these levels for any reason, the previous tops made at 18,000 and 60,400 would be final resistances in the period coming up. Strong support exists at 17,350 and 58,200. If these break then the next level would be 17,000-17,050 and 57,250-57,350. The strategy for the week would be to continue selling on rallies and buying on sharp dips. Markets are in a trading zone and they need to make up their mind where they are headed in the medium term. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/former-tata-sons-chairman-cyrus-mistry-killed-in-a-road-accident/articleshow/93984352.cms">Former Tata Sons chairman Cyrus Mistry killed in a road accident</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/modi-and-industry-leaders-express-condolences-on-cyrus-mistrys-death/articleshow/93986009.cms">‘We shared a laugh last month on a park bench in London’, says former head of strategy at Tata Sons</a>

You Searched For "mercantile bank ipo" and got 5 results

Sixth monkeypox case: Patient in stable condition at LNJP Hospital

PTI

There's a Wall Street firm that will literally never tell you to sell

Linette Lopez

The market strategy would be to buy on dips and sell on rallies: Arun Kejriwal

IANS

10 things before the opening bell

Phil Rosen

After a volatile week expect markets to remain rangebound says Arun Kejriwal

IANS

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