The government is expected to defer the mega initial public offering (IPO) of LIC to the next financial year as the ongoing Russia-Ukraine war has dampened fund managers' interest in the public issue, market experts said on Sunday. The government was looking to sell 5 per cent stake in Life Insurance Corporation (LIC) this month, which could have fetched over Rs 60,000 crore to the exchequer. The IPO would have helped meet the curtailed divestment target of Rs 78,000 crore this fiscal.
There has been a stellar rise for the Indian markets this far in calendar year 2021 (CY21) with the S&P BSE Sensex surging over 19 per cent. The gain in mid-and small-cap indices on the BSE has been sharper with both these indexes surging around 38 per cent and 54 per cent, respectively during this period. Rampant spread of Covid pandemic's Delta variant and the ensuing lockdown and mobility curbs across India, rising prices key commodities, including crude oil and its impact on inflation, possibility of tightening of policy stance by major global central banks, especially the US Federal Reserve (US Fed) have been some of the key headwinds that the markets successfully negotiated during this period.
World champion Max Verstappen took maximum points from Formula One's Imola sprint weekend, leading a Red Bull one-two on Sunday as Ferrari's homecoming turned sour for overall leader Charles Leclerc and his Italian team.
The Dutchman stopped Hamilton from winning an eighth title with a gutsy turn in the final lap.
Big bull's holdings cross Rs 7,200 crore (Rs 72 billion).
Vasseur and his compatriot Nicolas Todt, son of Jean and manager of Ferrari's Monegasque driver Charles Leclerc, are close and founded the junior series ART racing team together.
Team boss Christian Horner said Verstappen's lap of one minute 22.109 seconds was one of his best of the year and the Dutch driver sounded remarkably relaxed given the amount of pressure on him.
The Indian cricket team's director says the two players have utmost respect for each other and the Indian team is 'one honest bunch' which believes in playing for each other.
Strong equity flows from domestic institutions, not foreign inflows, will be the real driver of the expected bull rally
While mid-cap and small-cap funds have given category average returns of 73.3 per cent and 89.8 per cent respectively over the past year, large-cap funds' returns have been lower at 53.9 per cent, points out Sarbajeet K Sen.
Cement shares have been outperformers on the stock market
These funds can fetch double-digit returns over the long term which debt tax-saving products can't.
While the market may remain volatile this year, analysts expect equities to deliver positive returns by outperforming inflation and government bonds, supported by the fiscal stimulus in the US.
The Dutchman won a maiden Formula One title after a last-lap overtake on Mercedes rival Lewis Hamilton in Abu Dhabi.
Investors who cannot manage an asset-allocated portfolio or rebalance regularly, or do not have an advisor, may opt for these funds, but only after a detailed study of their strategy, suggests Sanjay Kumar Singh.
Following a disastrous outing in the 2022 edition, five-times champs Mumbai Indians will look to turn it around when the 16th season of the IPL gets underway.
The Indian markets have seen a good run in the last three months with the S&P BSE Sensex rising around 7 per cent and the Nifty50 moving up 7.5 per cent. The next leg of the market rally from here on, analysts suggest, will be driven by a growth in corporate earnings over the next few quarters. That said, they do not expect material / sharp downgrades to India Inc's earnings estimates despite headwinds for the economy.
Ask about the fund house's other schemes and how these have performed over time.
The market breadth has turned sharply positive since May amid hopes that a decline in Covid-19 infections will lead to a revival in the economy. At 3.8, the advance-decline ratio (ADR) for May was the best since June 2020. So far this month, the ratio has remained above three - in simpler words, for every declining stock, there were nearly four advancing stocks in May and three this month. ADR is a popular market breadth indicator, with a ratio of more than two signalling an extremely bullish undercurrent.
IMAGES from the Belgian F1 Grand Prix
Gold price in Mumbai's physical market on Friday fell 31.1 per cent or Rs 1,351 to close at Rs 41,848 per 10 gramme. Friday's fall in per cent terms is worst after November 2015 and, in absolute terms, the worst after August 2013. Silver prices fell Rs 2,255 to close 5 per cent lower at Rs 43,085 per kg on Friday.
Ferrari Formula One boss Mattia Binotto has handed in his resignation and will leave at the end of the year, the championship runners-up said on Tuesday.
India beat Sri Lanka by seven wickets in the second Twenty20 International to take an unassailable 2-0 lead
"There's a lot of work that still needs to be done in this sport. "I can't retire now, because I'm only just embarking on helping create a more open and inclusive environment here in this sport and I've got to stay to help that continue." said Hamilton.
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
Klay Thompson chipped in with 21 points for the Warriors, who won their third straight overall and ninth in a row at home to maintain their No. 6 position in the Western Conference playoff race.
Stocks below a certain size in terms of market capitalisation don't attract much institutional interest
'Geopolitical risks and their impact on oil prices, if any, are another concern for global markets, particularly for India.'
Hectic fundraising through initial public offerings (IPOs) is expected in October-November, with at least 30 companies are looking to collectively raise over Rs 45,000 crore through initial share-sales, merchant banking sources said. Of the total fundraising, a large chunk would be garnered by technology-driven companies. The successful IPO of food delivery company Zomato, which was overwhelmingly subscribed by over 38 times, encouraged new-age tech companies to come out with their primary share-sales.
As part of the transaction, Daimler will reduce its stake from 60%, while Wolff will up his shareholding from 30%, the statement said.
Sebastian Vettel put his Red Bull on pole position at the Canadian Grand Prix on Saturday and ended Mercedes' hopes of a fifth successive start from the top slot.
Finland's Valtteri Bottas took his first Formula One pole position at the Bahrain Grand Prix on Saturday with a sizzling lap that ended Mercedes team mate Lewis Hamilton's bid for a seventh in a row.
But much depends on govt action & global economy; Sensex gains in 2070 the biggest in five years
Investor sentiments remained upbeat tracking global developments as the US, China geared up for trade talks due this week.
'Indians are great savers, but they are lousy investors.'
India racked up 199-2 riding blistering half-centuries by opener Ishan Kishan and number three batsman Shreyas Iyer.
The Argentine forward's glittering resume has one major omission -- a World Cup winner's medal.
The worst may perhaps be over for these stocks, suggests Sanjay Kumar Singh.
Bajaj Finance was the top gainer in the Sensex pack, rising around 4 per cent, followed by Maruti, SBI, Bajaj Finserv, Sun Pharma and Asian Paints. NSE Nifty rallied 293.05 points to 17,469.75.
Formula One championship leader Charles Leclerc took pole position for the inaugural Miami Grand Prix ahead of Ferrari team mate Carlos Sainz in a front row lockout in qualifying on Saturday.
