Washington, February 27: People who invest in high-risk stocks that offer a meagre chance of high return have the same socio-economic characteristics as lottery players, according to new research from The University of Texas at Austin.
Alok Kumar, assistant professor of finance at the McCombs School of Business at The University of Texas at Austin, came to this conclusion after studying the demographics and financial transactions of 70,000 anonymous investors.
Anil Agarwal promoted Vedanta Resources Plc has offered a maximum of Rs 105 per share to buy back shares from the general public amounting to 20% stake in its BSE-listed subsidiary Madras Aluminium Company (Malco).
Vedanta currently owns 80% stake in the company.
The minimum floor price in accordance with Indian regulations is Rs 74.77 per share, Vedanta said in a filing with the London Stock Exchange.
The company will spend a maximum of Rs 236 crore to buy back 2.25 crore shares owned by the public. The buyback will begin on March 17 and end on March 20.
The offer is being made by Twin Star Holdings, a wholly owned subsidiary of Vedanta.
Tokyo - Tokyo stocks ended Friday morning trading modestly higher on the continued strength of the US dollar against the yen.
The benchmark Nikkei 225 Stock Average edged up 53.27 points, or 0.71 per cent, to 7,511.2.
The broader Topix index of all first section issues was also up 4.17 points, or 0.56 per cent, at 746.7.
On currency markets at 9 am (0000 GMT), the dollar traded at 98.31-36 yen, up from Thursday's 5 pm quote of 97.92-95 yen. A lower yen makes Japanese goods cheaper overseas.
Indian stock markets were trading on a flat note this afternoon offsetting hopes of an additional cut in policy rates by the central bank (RBI) actuated by a reduction in inflation to a 15-month low.
For week ended February 14, inflation fell to 3.36% as against 3.92% during the last week.
Heavy selling action was witnessed across banking stocks, which fell more than 2%.
Tokyo - The Tokyo market reversed its early gains to end Thursday's trading lower as economic worries outweighed optimism created by a weaker yen.
Tokyo players bought mainly export-oriented issues in morning trading as the yen's value dropped. Market sentiment was also boosted by a report the previous day about a government plan to use public funds to buy stocks to try to avoid further declines in share prices.
But investors returned to selling in the afternoon to lock in profits from gains in the morning and on Wednesday on lingering economic worries.
Washington, February 27: People who invest in high-risk stocks that offer a meagre chance of high return have the same socio-economic characteristics as lottery players, according to new research from The University of Texas at Austin.
Tokyo - Tokyo stocks ended Friday morning trading modestly higher on the continued strength of the US dollar against the yen.
Indian stock markets were trading on a flat note this afternoon offsetting hopes of an additional cut in policy rates by the central bank (RBI) actuated by a reduction in inflation to a 15-month low.
After opening on a weak note this morning, Indian equities fell further on the back of heavy selling pressure seen across all sectoral indices. 
Tokyo - The Tokyo market reversed its early gains to end Thursday's trading lower as economic worries outweighed optimism created by a weaker yen.
