Nine of the top-10 most valued companies together lost a whopping Rs 309,178.44 crore in market valuation last week as selloffs continued. In a holiday-shortened past week, the 30-share BSE Sensex plummeted 1,836.95 points or 3.11 per cent amid geopolitical tensions, global sell-off triggered by a hawkish US Federal Reserve and unabated foreign fund outflows. From the top-10 list, State Bank of India was the lone gainer as its valuation jumped Rs 18,340.07 crore to reach Rs 467,069.54 crore.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The top 10 valued firms added a total Rs 1,56,317.17 crore to their market valuation last week, helped by across the board rally which catapulted the benchmark index Sensex to the record 60,000 mark for the first time. During the last week, the 30-share BSE benchmark rallied 1,032.58 points or 1.74 per cent. The BSE Sensex made history on Friday by reaching the 60,000-mark for the first time ever. The market capitalisation (mcap) of Reliance Industries zoomed Rs 58,671.55 crore to reach Rs 15,74,052.03 crore. The m-cap of RIL went past Rs 16 lakh crore mark in intra-day trade on Thursday following a rally in its share price.
Investors have gained Rs 3,93,349.08 crore in four days following a strong rally in the equity markets amid a declining trend in COVID-19 cases. In four consecutive sessions of gains, the 30-share BSE Sensex has climbed 1,299.91 points or 2.56 per cent. The BSE benchmark index on Monday closed at 51,937.44, a gain of 514.56 points or 1 per cent. In four days, the market capitalisation of BSE-listed companies zoomed Rs 3,93,349.08 crore to close at a record high of Rs 2,22,99,810.27 crore on Monday.
The buzz in the IPO market continues with four companies launching their initial share sales this week to raise over Rs 14,628 crore collectively. This comes after four companies -- Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles-- launched their initial share-sales last week to mobilise Rs 3,614 crore. So far in the current fiscal, 16 companies have raised Rs 30,666 crore through IPOs against Rs 31,277 crore by 30 firms in the entire 2020-21. Going forward, market analysts expect the IPO environment to remain buzzing during the entire 2021-22.
Housing finance major HDFC on Monday reported a 16 per cent growth in standalone net profit to Rs 3,700 crore for the January-March quarter, helped by record loan sales on the back of benign interest rates and the resultant fall in cost of funds along with the near-total repayments that culled provisions and credit costs. For the full year, the company, which is working on a reverse merger with its banking subsidiary, has booked a net profit of Rs 13,742 crore, up from Rs 12,027 crore in FY21, vice-chairman and chief executive Keki Mistry said on Monday in an earnings call with analysts. On a consolidated basis, net profit for the quarter surged 21.6 per cent to Rs 6,892 crore on-year and for the full year it jumped 21 per cent to Rs 22,595 crore, Mistry said and guided towards better days.
Seven of the 10 most valued domestic companies together added Rs 1,31,173.41 crore in market valuation last week, with HUL and TCS emerging as the biggest gainers. Reliance Industries, Infosys, HDFC, Bajaj Finance and Wipro also saw a rise in their market valuations, while HDFC Bank, ICICI Bank and SBI suffered losses. The market capitalisation (m-cap) of Hindustan Unilever Limited (HUL) zoomed Rs 50,234.21 crore to Rs 6,15,016.63 crore.
590 cricketers -- including 370 Indian players and 220 overseas players -- will go under the hammer during the two-day mega auction in Bengaluru on February 12 and 13.
Sector experts have, however, indicated that a large part of the airwaves in the upcoming auction will remain unsold.
Investor wealth on Friday declined over Rs 2.23 lakh crore as markets cracked. The 30-share BSE Sensex slumped 549.49 points or 1.11 per cent to close at 49,034.67. During the day, it plunged 788.37 points to 48,795.79.
The government will transfer about Rs 16,000 crore of unpaid fuel bills and other pending dues that Air India owes to suppliers, to a special purpose vehicle before handing over the loss-making airline to the Tata Group, a senior official said. Air India Assets Holding Ltd (AIAHL), which will hold non-core assets of Air India such as land and building, will also be saddled with 75 per cent of the airline's debt that the Tata Group is not taking over. Besides the debt, the excess liability going to AIAHL comprises unpaid fuel bills to oil companies, airport operators and vendors, said Tuhin Kanta Pandey, Secretary to the Department of Investment and Public Asset Management - the department running the privatisation programme of the government.
Union Home Minister Amit Shah on Thursday appealed to the people of Manipur to maintain peace and promised that justice will be ensured to all sections of the society.
The coronavirus has to be defeated and vaccination is the way to victory, Union Health Minister Mansukh Mandaviya said, while congratulating the country and healthcare workers for the achieving the 70-crore landmark.
The Serum Institute of India has informed the Centre that it will be able to supply around 22 crore doses of Covishield in October as the Union government has announced resuming export of surplus Covid vaccines in the coming fourth quarter under the 'Vaccine Maitri' programme, official sources said.
The Indian rupee is expected to trade between 80 and 84 against dollar in the first three months of 2023 with support from overseas inflows though worsening current account deficit (CAD) and reduced interest rate differential between the US and India pose challenges. According to a Business Standard Poll of 10 participants, most said the rupee could gain strength in January due to foreign inflows, and the Reserve Bank of India (RBI) is not expected to allow the currency to depreciate ahead of the Union Budget scheduled on February 1. The rupee depreciated 10.15 per cent in 2022, its worst performance since 2013 as the war in Europe and the interest rate increase by the US Federal Reserve prompted investors to flee emerging markets.
Besides clearing the proposal to buy assault rifles, the other significant acquisitions approved by the DAC include procurement of smart anti-airfield weapon (SAAW) systems for the navy and the Indian Air Force at an approximate cost of Rs 970, the officials said.
IT services major Infosys on Wednesday posted a 17.5 per cent rise in net profit to Rs 5,076 crore for the March quarter, and announced up to Rs 9,200 crore buyback offer at a maximum price of Rs 1,750 per share.
Prohibitory orders banning the gathering of people were imposed in Karnal on Monday, a day ahead of a farmers' planned gherao of the mini-secretariat over the August 28 lathicharge episode, officials said.
Five people, including one who holds a PhD in human resources, have been arrested from Gurgaon for allegedly duping over 500 people of Rs 7.5 crore on the pretext of providing them jobs in leading multi-national companies, Delhi Police said on Friday.
Activist Raman Sharma had filed a query under the Right to Information (RTI) Act, seeking to know from the government the number of people who had received the first dose of vaccines -- Covishield and Covaxin -- but did not take the second within the stipulated time period.
The total worth of Assam Chief Minister Sarbananda Sonowal's assets, both movable and immovable, have increased by over 71 per cent since the last assembly polls in 2016, despite not having bought any new immovable assets.
The gross expenses made by the party, including by the central headquarters and the state unit between the announcement and completion of the elections, stood at nearly Rs 71.73 crore, while the gross receipts during this period were to the tune of Rs 35.83 crore.
The Haryana government, which had earlier ordered suspension of mobile Internet services in Karnal from Monday 12.30 pm to Tuesday midnight, decided to suspend these services in four adjoining districts as well.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The country's largest private sector lender HDFC Bank on Saturday reported a 23 per cent jump in standalone net profit to Rs 10,055.20 crore for the March quarter, led by growth in loan demand across categories and lower provisioning as bad loans were trimmed. The bank's net profit during the corresponding period of the previous fiscal stood at Rs 8,186.51 crore. "After providing Rs 2,989.5 crore for taxation, the bank earned a net profit of Rs 10,055.20 crore, an increase of 22.8 per cent over the quarter ended March 31, 2021," HDFC Bank said in a regulatory filing.
State-run Oil and Natural Gas Corporation on Monday announced a net profit of Rs 6,636.33 crore (Rs 66.36 billion) in the first quarter ended June 30, a 43.94 per cent growth from that in the corresponding period a year-ago.
The apex court, which was hearing a matter pertaining to the October 3 violence in Lakhimpur Kheri in which eight persons including four farmers were killed during a farmers' protest, was told by the state government that statements of four out of the 44 witnesses have been recorded by the judicial magistrate.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
ICICI Bank's valuation tumbled Rs 6,883.44 crore to Rs 3,48,532.24 crore, taking the worst hit among the top-10 firms.
India's second-largest telecom firm Bharti Airtel on Tuesday reported a net profit of Rs 1,134 crore for the September 2021 quarter, and said it is witnessing strong business momentum with growth in 4G customers and increase in mobile ARPU. This is against a loss (attributable to owners of the parent) of 763.2 crore during the year-ago quarter, the company said in a statement. Its consolidated revenues for the second quarter of FY21 stood at Rs 28,326.4 crore, up 18.8 per cent year-on-year (on a comparable basis) and 13 per cent y-o-y on a reported basis, it added.
Geopolitical tensions in different parts of the globe and slowdown in global economy led investors to opt for safe-haven like gold over the last one year.
GST collections touched a record high of over Rs 1.15 lakh crore in December, reflecting festive demand and reflating economy. The gross GST revenue collected in the month of December 2020 is Rs 115,174 crore and is the highest since the introduction of Goods and Services Tax from July 1, 2017, the finance ministry said in a statement.
Railways earned Rs 1,28,928.28 cr during April '14- Jan 2015.
Investments through participatory notes (P-notes) in the Indian capital market rose to Rs 91,658 crore at February-end, making it the highest level in 33 months, suggesting growing confidence of overseas investors. P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Sebi data, the value of P-note investments in Indian markets -- equity, debt and hybrid securities - increased to Rs 91,658 crore in February-end from Rs 84,916 crore at January-end.
The poll-panel called these seizures by its various field and technical enforcement teams a "historic milestone" achieved "for the first time in any assembly electoral process", meaning during simultaneously-held assembly polls.
Ahead of the start of the ninth season of the IPL, Rajneesh Gupta presents a detailed statistical analysis of the players involved.
As per the latest finance ministry data, the total balance in over 36.06 crore Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts was at Rs 1,00,495.94 crore as on July 3.
With this, the total SIP contribution in the first seven months of the current financial year rose to Rs 57,607 crore as compared with Rs 52,472 crore in April-October 2018, according to the latest data from the Association of Mutual Funds in India (Amfi).
Of the total Rs 63,288 crore invested through the route till July, Rs 52,356 crore was invested in equities, Rs 10,429 crore in debt, Rs 250 crore in the hybrid securities and Rs 190 crore in derivatives segment.
