Fresh capital raised by companies by way of initial public offerings (IPOs) is set to hit a 14-year high, thanks mainly to Zomato's maiden offering. India Inc has raised about Rs 19,300 crore in fresh capital by maiden offerings, including the Rs 9,000 crore the food delivery company will raise this week, so far in 2021. The best year in terms of fresh fund-raise was 2007, when companies had raised Rs 32,102 crore. With Paytm planning to issue fresh shares worth Rs 12,000 crore, the domestic market looks set to surpass that tally this year.
Brokerage Edelweiss Securities said if the NDA returns to power with a clear majority in line with exit polls, markets would rejoice the policy continuity.
Firms generated free cash flows in 2013-14, for the first time since the 2008 Lehman crisis
20 defence ministry reforms 'is a reflection of the resolve of the government to make the defence sector stronger and more efficient.'
Cipla is among the three Indian companies that signed a non-exclusive licensing agreement with US-based Gilead Sciences to make and distribute the latter's repurposed Ebola drug Remdesivir in 127 countries including India.
Experts say a combination of improving asset quality and NBFCs' weak balance-sheets bodes well for both corporate and retail banks.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
These companies, the study said, will have to either dip into its cash balance or borrow in short term.
The government is seeking to keep its fiscal deficit within the budgetary target of 4.8 per cent of GDP.
Over 93% of the orders in the year came from the central and state governments, PSUs, and NHAI.
Based on industry estimates, telecom companies, including Bharti Airtel, Reliance Jio, Vodafone Idea and BSNL, are expected to invest over $10 billion on buying 5G telecom equipment in the next five years as they transition from non-standalone networks to standalone 5G networks.
'They can shift to dynamic asset allocation funds to automatically rebalance their equity exposure.'
For years it has been evident that fibre and DTH would give tough competition to cable in India where regulatory overload has mutilated an already warped industry structure. OTT added fuel to the fire. From Rs 27,000 crore in 2010, cable's share of subscription revenues is now estimated at Rs 13,000 crore.
The divestment process, however, will not be an easy affair as there are multiple stakeholders, including the employee unions, whose concerns will have to be addressed.
'I hope the trend is sustainable and that economic activity accelerates going forward.'
Indian airlines are expected to post a consolidated loss of $4.1 billion this fiscal, similar to what they are estimated to have incurred in 2020-21, taking the total losses of two years to around $8 billion as a result of the pandemic so far, aviation consultancy and research firm CAPA said on Thursday. In a report, CAPA expects domestic passenger traffic to be around 80-95 million in 2021-22 as against 52.5 million in the previous financial year. However, despite this growth, it will be well below than around 140 million passenger volumes recorded in 2019-20, CAPA said in the report. This projection of the traffic volume does not take into account the anticipated third wave of the pandemic, it added.
Over the three-month period, Airtel's stock price has rallied from Rs 432 to Rs 540, while Vodafone Idea has risen from Rs 9.2 to Rs 11.8 per share.
'This is a blip in the 100-year history of cinema.'
Sitharaman also said that the government's capital expenditure was on track and Budget estimates would be met.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
Bharti Airtel will spend up to $800 million (about Rs 3,565 crore) this fiscal on setting up infrastructure network for its new acquisition Zain Africa.
The major beneficiaries have been the ministries of roads and highways, railways and power
IndiGo's share sale will raise the company's retained earnings to Rs 2,680 crore.
The market price action seems to point in this direction. Let's hope we finally break out. It is about time! asserts Akash Prakash.
Wonder why corporate India is showering dividends?
Factors that can push growth include softer interest rates, increased banking sector liquidity, higher rural consumption, salary hikes for state government employees and greater traction in public capex
'A total overall of the existing way of working by abolishing taxes and allowing citizens to help themselves without any government bottlenecks and impediments,' observes Rahul Mishra.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
The amount is around a fifth of the cumulative investment in fixed assets by these companies.
Despite a massive underperformance at the bourses since the last six months, analysts are turning optimistic on Reliance Industries (RIL). Those at Jefferies, for instance, say that the company is a proxy play for India's consumption growth story. The key catalysts for the stock, according to a Jeffries note, include faster-than-expected market share gain in retail, oil-to-chemicals (O2C) stake sale, recovery in gross refining margins (GRM), potential public listing of Jio and even a possible banking licence going ahead. That apart, analysts feel any tariff hike in Reliance Jio (RJio) - its telecom venture - will also aid performance. With balance sheet adequately de-levered, proceeds from a strategic stake sale in the O2C business will create a sizeable war chest for the company, analysts say.
The windfall from RBI may be used to trim borrowing, help fund Rs 3.3 lakh crore capex plan, capitalise banks and provide fiscal stimulus to some stressed sectors, experts and economists said.
Modi govt must implement few policy measures which it announced in Budget 2015.
Ninety-nine companies, which also include some unlisted ones, have more than Rs 100 crore each of minimum alternate tax credit on their books, cumulatively adding up to Rs 75,000 crore. By utilising MAT credit, many companies will be able to bring down their effective tax cost.
RCom proposed to raise Rs 10,000 crore through a long-term fund-based facility and the remaining Rs 3,000 crore through a non-convertible debenture issue. The firm is raising the debt to meet the capex requirements of various projects, including expansion of GSM network, and repayment of debts. The capex for the next financial year (Rs 150 billion) also includes expansion plans of its telecom infrastructure subsidiary, Reliance Infratel.
'It won't help being complacent about the momentum and valuations of equities that currently exist.'
These mega projects, worth about Rs 1 trillion, would boost the economy, ensure smooth supply of petroleum products across the nation and also provide the much-needed relief to people looking to get back to work after the lockdown.
The silver lining is that after two years, e-commerce has emerged as the top sector with $689 million in investments across 15 deals, accounting for 43 per cent of all investments in January 2021.
The impact of economic slump was visible in the Budget's fine print, as this step-by-step explanation show how the Budget math was worked out, reports Abhishek Waghmare.
A communiqu sent by the department of investment and public asset management (DIPAM) to the heads of all PSUs, said the move would help the government to get predictable and periodic dividends before Budget estimates are firmed up.
Budget has laid emphasis on enhancing expenditure in farm & rural, and social sector including healthcare, education, skill development, job creation and infrastructure
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