tailwinds of a remarkable year and handsome investor returns, Indian equities are set for an eventful journey in 2024, with a slew of local and global cues -- varying from interest rates to Lok Sabha polls to geopolitical happenings. Analysts are of the view that the bull run in the domestic equity market will continue, and over the next 3-6 months, the benchmark indices -- Sensex and Nifty -- could climb up to 7 per cent. In 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent, and the NSE Nifty climbed 3,626.1 points or 20 per cent.
'Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand.'
Mutual funds (MFs) have stepped up equity purchases after staying on the fence for over two months. Their net equity investments reached a four-month high of Rs 7,700 crore in July, rising for the fourth consecutive month after withdrawing a net of Rs 5,100 crore in April 2023. This trend continued in August, with net investments of Rs 3,400 crore in the first three trading sessions, according to data from the Securities and Exchange Board of India.
The success of recent IPOs and the stability in the secondary market are propelling many firms and investment bankers to remove their IPO plans.
The filing of offer documents with the capital markets regulator - Securities and Exchange Board of India - has more than halved this financial year (2022-23, or FY23) as the outlook for new share sales has worsened, following correction in the secondary market. So far in FY23, 66 companies filed their draft red herring prospectus (DRHP), as opposed to 144 in the preceding financial year (2021-22, or FY22).
The Bharatiya Janata Party on Thursday announced the names of candidates for 59 out of 70 seats in Uttarakhand for the upcoming assembly polls.
LIC's $2.7-billion initial public offering (IPO) shall be the fifth-biggest globally in CY22. South Korean EV battery maker LG Energy Solution holds the record for the year's largest IPO at $10.8 billion, while Chinese mobile communications provider China Mobile IPO, which raised $8.6 billion, comes second. Dubai Electricity and Water Authority's (DEWA's) $6.1-billion IPO in March is currently the third biggest public offering for the year, followed by China National Offshore Oil Corporation's (CNOOC's) IPO; the firm had raised $5.1 billion by issuing shares in Mainland China after delisting from the American bourses.
Pranav Bodani, 29, from Pune shares his story.
Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday. In a report titled 'Adani Group: Deeply Overleveraged', CreditSights said, "In the worst-case scenario, overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap, and possibly culminate into a distressed situation or default of one or more group companies." Starting out as a commodities trader in the late 1980s, the Adani group has diversified from mines, ports and power plants into airports, data centers and defence.
Fundraising activity in the upcoming financial year 2022-23 may even surpass FY22 when 52 Indian companies raised a record Rs 1.11 trillion via initial public offerings (IPOs). According to a note by PRIME Database, 54 companies (including LIC) plan to raise Rs 1.4 trillion and currently hold the Securities and Exchange Board of India's (Sebi's) approval. Another 43 companies, the note said, are looking to raise about Rs 81,000 crore but waiting for Sebi nod.
'My film will not only be a reminder for all of us who have gone through these hellish two years, but also a reference point for future generations and for the four-five year olds who would have forgotten everything by the time they grow up.'
The initial public offering (IPO) market has come to a grinding halt due to sharp correction in the broader markets and uncertain outlook created by the Russia-Ukraine offensive. So far this year, only three companies have managed to launch their maiden share sales. In comparison, close to 10 companies were able to come out with their IPOs during the same period last year. Investment bankers say it will be challenging to launch a single deal in March as large institutional investors have turned extremely risk-averse and don't wish to commit any capital.
Retail investors have gained significant heft in the past year amid a sustained uptick in Indian equities. The share of retail investors in companies listed on the NSE reached an all-time high of 7.32 per cent in the quarter ended December 31, 2021, up from 7.13 per cent in the previous quarter and 6.9 per cent a year ago, the data from PRIME Infobase shows. This was despite the Nifty's 1.5 per cent decline during the quarter.
Transcript of the weekly market chat with Pranav Sanghavi.
LIC owns 3.69 per cent of the total listed universe based on available disclosures, the lowest since at least June 2009.
Sebi has asked intermediaries to stagger the offerings as much as possible, said people in the know and ensure adequate capacity building.
'Happy Onam to all Malayali friends .. specially to my friend @sreesanth36'
Mahi, Palak and 2 other Indians enter final at Asian Youth & Junior Boxing C'ships
A tribute to an incomparable photojournalist who was slain by the Taliban on Thursday night.
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.
Dr Pranav Shetty, a prominent Indian-American doctor fighting the dreaded ebola disease in West Africa, was the lone representative of the community to be present in First Lady Michelle Obama's box during the State of the Union Address.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
This year is set to be the third consecutive year when India's share of IPOs has fallen relative to the rest of the world.
Speaking to reporters at the joining ceremony, the actor from Tamil Nadu said she had come to the understanding over a period of time that if the nation has to move forward, then someone like Prime Minister Narendra Modi is needed to take the country "in the right direction and to its glory".
Ganguly was nominated to the seat vacated by Navjot Singh Sidhu.
Telangana Chief Minister K Chandrashekhar Rao, on Saturday, felicitated 2018 Commonwealth Games medallists Saina Nehwal and PV Sindhu among others at Pragathi Bhavan.
The latest updates from the Malayalam film industry.
Some of the lawyers, who in the past worked with Jethmalani, described him as an 'icon and legend of the law', and said his humility touched all the sections of society.
Malayalam actor Sharafudheen talks about the films that defined his career.
Known for courting controversies, the Sadhvi claimed the mission of a Congress-free India has already been "accomplished" and it is now time to rid the country of Muslims.
Top model, VJ actress and interior designer Namrata Baruwa has recently unveiled Studio Reves' Isha Satva - Om collection of spiritual jewellery that captures the essence of the almighty.
The Mumbai Cricket Association headed by Sharad Pawar, is set to oppose most of the recommendations of the Justice Lodha committee submitted in its report to the Supreme Court last week. "We are opposed to most of the recommendations and are one hundred per cent behind Mr Pawar," said MCA's joint secretary P V Shetty, when asked about the managing committee meeting convened on January 13 to discuss the implications of the Lodha panel recommendations. "We will discuss everything and then put forth our views to the BCCI," said Shetty.
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
There is polarisation among sectors with IT and healthcare receiving the lion's share of FPI money in the past two quarters.
Sebi had given an extension last year for PSUs to meet 25% minimum public shareholding rule
The Mubble app helps users track and control their mobile data usage and telecom spends.
With markets expected to remain volatile, promoters and lenders exposed to the industrials and materials space can face brunt of the price erosion of the pledged shares.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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