'If Covid peaks at around 250,000 cases, I don't see the market fall much. If it becomes uncontrollable and goes up to 600,000 a day, then the market may fall.'
The listing day gain-to-loss ratio for FY21 was 71 per cent, the highest since FY17, when it was 85 per cent.
The finance ministry said the sharp inflows last fiscal were due to the government's policy initiatives and economic recovery.
'It won't help being complacent about the momentum and valuations of equities that currently exist.'
'Whenever markets rally, the IPO pricing gets aligned to the prevailing market conditions.'
Jhunjhunwala, one of India's well-known individual investors, was speaking at the India Economic Conclave organised by the Times Network. He said he won't rule out 5-10 times gains in state-owned banks over the next five years. Shares of PSBs have been on a tear this year. The Nifty PSB index is up 20 per cent so far this year.
Listed companies have seen equity deals worth Rs 23,500 crore in March.
Banking and financial stocks got more than their fair share of foreign portfolio investor (FPI) flows in February. Overseas investors pumped in $3.56 billion into domestic equities last month. Of this $1.96 billion went into financial stocks, data analysed by Edelweiss shows. "The sector now has 34.8 per cent of FPI assets, up from 33.8 per cent in January.
The dozen firms to have listed following their IPOs have seen an average listing day gain of 49 per cent. IPO applicants have made money on all the deals, barring two, which saw modest declines on listing day.
Sebi proposes to relax ownership rules to allow more entrants in the exchange space, which is seeing a disruption globally with the emergence of new technologies such as block chain.
The rise in US bond yields spooked investors last week and there could a further increase given the inflation dynamics, according to Christopher Wood, global head of equity strategy at Jefferies. "The US bond market sell-off has continued over the past week, and with it the increased potential for an inflation scare. "Still, there is plenty of scope for bonds to sell off more since the last time the 5-year forward inflation expectation rate was running at current levels (namely in early December 2018), the 10- and 30-year bond yields were significantly higher at 2.91 per cent and 3.17 per cent, respectively," the market guru said in his newsletter GREED & fear. The 10-year and 30-year US Treasury finished at 1.34 per cent and 2.13 per cent, respectively, last week.
The exchange cited issues with its telecom service providers that prevented stocks and index quotations from getting updated.
The bulk of the incremental profits will come from oil & gas and automobile sectors.
Sebi's change of rules will give the government -- which owns 100 per cent of LIC -- the flexibility to assess market demand and opt for lower dilution.
Through anchor allotment, a firm can demonstrate the demand for shares by getting marquee investors on board.
This correction has given a good entry for long-term investors. One should buy quality stocks and those with growth potential.
The firm is on course to replace state-owned Gail India in the widely-followed index during the semi-annual review set for March.
Currently, TCS is India's second most valuable firm after Reliance Industries, which has a market cap of nearly Rs 12.9 trillion.
Of the 854 stocks that quoted less than Rs 20 on March 23, 2020 - when the Sensex hit more than a three-year low - 482 have doubled.
RailTel Corporation of India, Indigo Paints, Home First Finance Company, Indian Railway Finance Corporation, and Suryoday Small Finance Bank are among the companies looking to tap the market.
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