All stories by Samie Modak
Zomato to debut on the stock markets today, 4 days ahead of scheduleRediff.com4 days ago
India's first unicorn Zomato will make its stock market debut on Friday, marking a historic moment for the domestic capital market. As per initial schedule, Zomato's listing was to take place on July 27. However, investment banks managed to complete the share allotment and listing formalities ahead of the deadline. Under the Sebi framework, the timeline between IPO closing and listing has to be six working days. Zomato's IPO had closed on July 16.
Paytm's listing grew 370x from Rs 120 cr in 2010 to Rs 16,600 cr 11 years laterRediff.com17 Jul 2021
According to its DRHP filed in 2010, the company's net worth was just Rs 140 crore. Its total income for the financial year 2009-10 stood at Rs 119 crore and it had a net profit of Rs 16 crore. In sharp contrast, at the end of March 2021, Paytm's networth was Rs 6,535 crore and total income stood at Rs 3,187 crore.
Zomato's entry to Nifty or Sensex would be challengingRediff.com15 Jul 2021
Zomato could get added to the MSCI and FTSE indices by the end of this year, while an entry to the Nifty or the Sensex would be challenging before the second half of 2022, said Brian Freitas, an analyst at independent research provider Smartkarma, in note. "With nearly the entire pre-IPO shares locked up for one year, the free float will be very low and the stock will need to move higher to around Rs 328 per share (4.3 times over possible IPO price of Rs 76) to be included in the Nifty index (with no change in the market cap of the smallest index constituent). "We can be reasonably certain that Zomato will not be included in the Nifty index till the September 2022 rebalance at the earliest," he said.
Zomato's Rs 9,375-cr IPO to open on July 14Rediff.com8 Jul 2021
Food delivery company Zomato's Rs 9,375-crore initial public offering (IPO) will open for subscription on July 14, said investment banking sources on Wednesday. The company initially was looking to raise Rs 7,500 crore through the offering. Investment banking sources said the issue size has been increased because of the robust demand from investors.
Zomato mega IPO likely this month following Sebi nodRediff.com6 Jul 2021
The company, backed by China's Ant Group, is planning to issue fresh shares worth Rs 7,500 crore in the IPO. This will make this India's third-largest offering after Reliance Power and DLF.
NSDL statement prevents a $500-million sell-off in Adani group stockRediff.com23 Jun 2021
The clarification by the National Securities Depository (NSDL) - which is tasked with monitoring foreign portfolio investor (FPI) investment in domestic stocks - that the accounts of top investors in Adani group stocks remain 'active' has helped prevent a $500-million selloff of shares. Analysts said a freeze of the FPI accounts, as reported by some media outlets, could have prompted global index providers to cut weighting of four Adani group companies from their global indices. Brian Freitas, an analyst at independent research provider Smartkarma, said if the FPI accounts were indeed frozen, FTSE and MSCI would have reduced weighting of Adani group companies at the next rebalance, since it would have meant that the large part of the free float was not tradeable.
Decoded: What went wrong with the six schemes of Franklin TempletonRediff.com19 Jun 2021
The Securities and Exchange Board of India (Sebi) has directed Franklin Templeton MF to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and imposed a two-year ban on launching new debt schemes for alleged irregularities in running six of its debt schemes that were shuttered last year.
Upper limits for mid-, small-caps zoom amid markets rallyRediff.com8 Jun 2021
With India's market capitalisation surpassing the $3-trillion mark, stocks across the board are adding heft. The upper limit for qualifying as a mid-cap stock -under the Securities and Exchange Board of India's (Sebi's) definition for mutual fund reclassification - has hit an all-time high of $5.4 billion. In 2013, amid the taper tantrum sell-off, it had dropped to just $1 billion, shows an analysis done by ICICI Securities.
The man with the Rs 100 crore salaryRediff.com2 Jun 2021
'Personally, I have reached that stage where I think material things can't give you any satisfaction.'
Change in tax structure prompted India Inc to favour buybacks again in FY21Rediff.com3 May 2021
In 2020-21, Indian firms offered to buy back shares worth Rs 39,295 crore, or 97% more than Rs 19,972 cr proposed in the previous financial year.
Wipro, Tata Steel may dislodge ONGC from BSE SensexRediff.com29 Apr 2021
The 30-share bluechip index is rebalanced on a semi-annual basis with next rejig slated for June 18.
Adani stocks may escape MSCI 'extreme price increase' thresholdRediff.com26 Apr 2021
While the stocks met various other inclusion parameters, there were fears they may still get disqualified given the sharp run up in their stock prices.
At Rs 2.74 trillion, FPI flows surpass previous best in FY13: GovtRediff.com7 Apr 2021
The finance ministry said the sharp inflows last fiscal were due to the government's policy initiatives and economic recovery.
'Stock valuations may not go up'Rediff.com5 Apr 2021
'It won't help being complacent about the momentum and valuations of equities that currently exist.'
Jhunjhunwala bullish about state-owned banks, says they are undervaluedRediff.com26 Mar 2021
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.
NSE trading outage: Calls for more stock exchanges likely to growRediff.com5 Mar 2021
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.
Further rise in bond yields seen; oil likely at $100/barrelRediff.com1 Mar 2021
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.
India Inc's profit contribution to GDP likely to jump three timesRediff.com22 Feb 2021
The bulk of the incremental profits will come from oil & gas and automobile sectors.
Public sector IPOs to warm up to anchor investorsRediff.com29 Jan 2021
Through anchor allotment, a firm can demonstrate the demand for shares by getting marquee investors on board.
Tata Consumer may be added to NiftyRediff.com16 Jan 2021
The firm is on course to replace state-owned Gail India in the widely-followed index during the semi-annual review set for March.