A delay in US Federal Reserve's quantitative easing tapering, coupled with better-than-expected September quarter earnings, ensured FIIs kept foreign money flowing into Indian equities.
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Q1 results indicate more pain ahead, as slowdown has spread to more sectors, pricing power has come down and rising interest cost is eating into profits.
A record net inflow in Indian equities in the financial year ending March 2013 helped foreign investors widen their grip.
Sales growth slows but expenditure control, lower interest burden save the day.
Though the Infosys stock has regularly tanked on days the company's results are announced, it has made up for the losses before the announcement of the next results.
One in three stocks outperforms market after disclosing quarterly numbers
India Inc's order book doubled in the fourth quarter (January-March) of the last financial year compared, to the year-ago period.
QIP is a capital raising tool, whereby a listed company can issue equity shares, fully and partly convertible debentures, or any securities other than warrants that are convertible to equity shares to a Qualified Institutional Buyer.
Manufacturing sector suffers from project delays, lack of fresh capital.
India Inc could set a new fund-raising record in 2010. Even before the year starts, companies have lined up equity raising plans of Rs 1,50,000 crore, close to two-and-a-half times of what they raised through share sales this year.
The number of FIIs registering with Sebi this year touches six-year low.
The reason is obvious: Both the benchmark indices have almost doubled from their March 2009 levels. The reasons for the stake sales vary from meeting their company's working capital requirements to debt repayment. A few did so for business expansion.
India Inc's order book has more than doubled to an all-time high of Rs 73,320 crore in the second quarter of the current financial year, compared to the first quarter.
It's actually a problem of plenty for investors now. Buoyed by the success of the three companies that sold their QIP issues within a day of opening, as many as 32 companies have joined the queue, hoping to raise a combined Rs 40,000 crore (Rs 400 billion).
Prospects of a stable government at the Centre have prompted at least six economic forecasters to raise their growth estimates for the current fiscal, citing lower-than-expected political risk after the recent general elections.
In rupee terms, market capitalisation inches closer to GDP.
Besides coming back to power in the recent elections, the Congress-led United Progressive Alliance (UPA) government has more reasons to smile.
Out of 150 India equity funds, 89 have outperformed Sensex.
Number of people with net worth of at least Rs 100 crore at 475 now.
Taking advantage of attractive valuations, life insurers bought equities in the bulk deal segment during the last six months against selling by them during June-November 2008.
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