Samie Modak

All stories by Samie Modak

BSE now corners a fifth of derivatives market share

BSE now corners a fifth of derivatives market share

Rediff.com9 May 2024

BSE (formerly Bombay Stock Exchange) has seen its market share go past the critical 20 per cent mark in the derivatives segment, intensifying its battle with bigger rival - the National Stock Exchange (NSE) - which, less than a year ago, had a monopoly in this space. In April, the average daily trading volume (ADTV) for BSE stood at Rs 89 trillion, accounting for 20.6 per cent of the overall ADTV of Rs 432 trillion (based on notional volumes for options).

Changing complexion: Adani stocks now have prominent investor base

Changing complexion: Adani stocks now have prominent investor base

Rediff.com24 Apr 2024

Amid intense scrutiny from short-sellers and regulators, Adani group stocks have seen a significant shift in their shareholder base: Relatively opaque foreign portfolio investors (FPIs) have given way to more recognisable investors and broad-based funds. The list of large public shareholders - those directly holding at least 1 per cent - is now dominated by entities, such as the state-owned Life Insurance Corporation (LIC), US-based GQG Partners, Abu Dhabi-based International Holding Company, and Qatar Investment Authority's INQ Holding.

Hong Kong pips India, becomes fourth-largest market

Hong Kong pips India, becomes fourth-largest market

Rediff.com2 Apr 2024

Hong Kong has regained its spot as the world's fourth-largest market following a broad market rout in Indian equities. Currently, the Chinese territory's market capitalisation stands at $4.9 trillion versus India's $4.75 trillion, according to data compiled by Bloomberg. In January, the domestic equity markets' market capitalisation had surpassed that of Hong Kong following a spectacular rally in the small- and midcap stocks.

'Midcaps, Smallcaps: Exercise Caution'

'Midcaps, Smallcaps: Exercise Caution'

Rediff.com21 Mar 2024

'While Indian markets are indeed not inexpensive, the valuations of largecap stocks are still a considerable distance from being overstretched.'

Bharti Airtel, State Bank of India, Zomato on Jefferies hotlist for 5 years

Bharti Airtel, State Bank of India, Zomato on Jefferies hotlist for 5 years

Rediff.com19 Mar 2024

Jefferies has identified 11 stocks set to benefit from long-term macro trends like capital expenditures, government manufacturing initiatives, and financialisation.

FPI lobby flags concerns on T+0 settlement cycle

FPI lobby flags concerns on T+0 settlement cycle

Rediff.com31 Jan 2024

Asia Securities Industry & Financial Markets Association (Asifma) has raised concerns about the Securities and Exchange Board of India (Sebi) proposal to introduce a T+0 settlement cycle. The industry association of top foreign portfolio investors (FPIs) has stated that this move could give rise to several issues, including the bifurcation of the market, liquidity fragmentation, and deterioration of market quality. In a discussion paper floated last month, Sebi has proposed a separate same-day settlement cycle that will run parallel to the existing T+1 cycle, where trades are settled the next day.

India likely to get its first $1 trn mcap firm by 2032

India likely to get its first $1 trn mcap firm by 2032

Rediff.com23 Jan 2024

India's first $1 trillion company by market capitalisation (mcap) is achievable by 2032 and HDFC Bank and Reliance Industries (RIL) are seen as lead contenders, ICICI Securities said in a note on Monday. To achieve this, the shares of both the firms will have to appreciate at least 20 per cent annually for the next decade. ICICI Securities believes this is possible if India's gross domestic product (GDP) growth accelerates to 9 per cent per annum and corporate profitability cycle peaks. "Our calculations suggest that India's first $1 trillion mcap stock could emerge by 2032.

HDFC Bank's ADR premium shrinks to nearly zero as FPIs turn bearish

HDFC Bank's ADR premium shrinks to nearly zero as FPIs turn bearish

Rediff.com19 Jan 2024

After the latest rout, the American depositary receipt (ADR) premium of HDFC Bank to its local shares has shrunk to nearly zero. Shares of HDFC Bank on Thursday fell 3.1 per cent to Rs 1,490, extending its two-day decline to 11 per cent. Meanwhile, the ADR has slumped over 15 per cent in the past two trading sessions.

Aster DM Healthcare's sale of Gulf business faces flak

Aster DM Healthcare's sale of Gulf business faces flak

Rediff.com11 Jan 2024

Hospital chain Aster DM Healthcare's plans to sell its Gulf business may run into rough weather with voting advisory firm Institutional Investor Advisory Services (IiAS) raising concerns over the transaction. Recommending an 'against' vote on the resolution, IiAS has said there is no clarity on how Aster DM will utilise the proceeds that it will obtain by selling the unit, which contributes to bulk of its revenues. In November, Aster DM had announced its plans to sell its wholly-owned subsidiary Affinity Holdings, which conducts business in the Gulf Cooperation Council (GCC) region, to Alpha GCC for $1 billion.

90% Retail Investors Lose Money

90% Retail Investors Lose Money

Rediff.com5 Jan 2024

Only the top 5 per cent profit makers account for 75 per cent of profits.

India's market cap now just a whisker away from toppling Hong Kong's

India's market cap now just a whisker away from toppling Hong Kong's

Rediff.com25 Dec 2023

The gap between market capitalisation of Hong Kong and India has dwindled significantly. At present, India's market cap stands at approximately $4.3 trillion, while Hong Kong's is around $4.7 trillion. In the depths of the Covid-19 crisis in March 2020, Hong Kong's market cap, at $4.6 trillion, was 3.44 times larger than India's.

'Banks are actively working on several IPOs'

'Banks are actively working on several IPOs'

Rediff.com21 Dec 2023

'The deal pipeline across products is robust for 2024.'

Street Signs: Zomato's share snapback, DOMS soars at 60%, and more

Street Signs: Zomato's share snapback, DOMS soars at 60%, and more

Rediff.com18 Dec 2023

After a sharp rally in the equities market this year, investors could be better off rotating some funds towards the debt market. Experts believe several tailwinds could spur bond market returns over the next 12-18 months. These include India's robust macroeconomics, declining inflation, and the imminent passive flows of close to Rs 2.5 trillion on account of domestic sovereign bonds getting included in the JP Morgan global indices.

'IPO market has bullish outlook in 2024'

'IPO market has bullish outlook in 2024'

Rediff.com12 Dec 2023

'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'

RIL, ICICI, Infy to draw highest flows on US retirement fund switch

RIL, ICICI, Infy to draw highest flows on US retirement fund switch

Rediff.com30 Nov 2023

The Federal Retirement Thrift Investment Board's (FRTIB), one of the US government's main retirement funds, decision to change the benchmark index for gaining international exposure will channel $3.6 billion (Rs 30,000 crore) inflows into domestic equities. India has a weightage of 5.3 per cent, seventh-most in the new MSCI ACWI IMI ex USA ex China ex Hong Index, which FRTIB now plans to use. India isn't part of the current developed markets-dominated MSCI EAFE index that the pension fund uses.

Nifty's wild ride: 750 points up, what's next?

Nifty's wild ride: 750 points up, what's next?

Rediff.com27 Nov 2023

The benchmark National Stock Exchange Nifty has rallied 4 per cent, or 750 points, from this month's low to end at 19,732 on week ending November 17. Technical analysts say the market could consolidate around the current levels as it is nearing the resistance zone. "The near-term uptrend status of the market remains intact, but there is a possibility of some more consolidation or minor weakness for the Nifty in the next one to two sessions.

Indian equity markets gain significant heft in EM basket

Indian equity markets gain significant heft in EM basket

Rediff.com24 Nov 2023

The Indian equity markets have significantly increased in importance within the emerging market (EM) basket of stocks in recent years. Since 2018, India's weighting in the Morgan Stanley Capital International (MSCI) EM Index - tracked by passive funds with assets of nearly $500 billion - has doubled, while the number of domestic stocks has grown by almost 70 per cent.

MSCI Index inclusion likely to spur big churn for domestic stocks

MSCI Index inclusion likely to spur big churn for domestic stocks

Rediff.com22 Nov 2023

IndusInd Bank, Suzlon, and Paytm will remain under focus, as the stocks are pegged to get added to the MSCI global standard index. These stocks, along with six others, are seen attracting cumulative inflows of nearly $2 billion from passive funds tracking MSCI indices. Persistent Systems, APL Apollo, Polycab, Macrotech Developers, Tata Motors DVR, and Tata Communication are the other six stocks that will be added to the MSCI index, shows an analysis done by Nuvama Alternative & Quantitative Research.

Explained: How South Korea's ban on short-selling may impact India

Explained: How South Korea's ban on short-selling may impact India

Rediff.com14 Nov 2023

South Korea's move to ban stock short-selling may further delay its quest to bag an 'upgrade' to 'developed market' status from global index provider MSCI, said analysts. South Korea will prohibit stock short-selling until June 2024 to allow its regulators to "actively" improve rules and systems. South Korea is currently classified as an 'emerging market (EM)' alongside India, China and Taiwan in MSCI indices.

Healthcare to metals sectors: Finding the discount sweet spot in Nifty50

Healthcare to metals sectors: Finding the discount sweet spot in Nifty50

Rediff.com13 Nov 2023

This is the case even though the benchmark index is only 5 per cent below its all-time high. The list of stocks trading at a discount primarily consists companies in the automotive, banking, oil and gas, insurance, healthcare, and metal sectors.

Next