After a year of decline, mergers and acquisitions (M&As) in India increased 13.8 per cent, reaching $69.2 billion in the first nine months of 2024, as against $60.8 billion during the same period in 2023. Led by Indian companies and private-equity (PE) firms, 2,301 transactions were signed between January and September this year as compared to 1,855 transactions reported in the same period last year, according to the Bloomberg data.
Retail investors now own a bigger slice of small-cap companies than a couple of years earlier, attributable to their growing conviction in mutual fund (MF) schemes focused on this space. Data from Capitaline shows MFs' average holding in the National Stock Exchange Nifty Smallcap 250 rising to 8.67 per cent, from 7.67 per cent in the past two financial years, with the number of companies with over 20 per cent MF holdings, rising from 15 to 24. At the end of May, the top five small-cap firms with the highest MF holdings were Carborundum Universal, Blue Star, Cyient, Gujarat State Petronet, and Cholamandalam Finance.
Banking and financial stocks got more than their fair share of foreign portfolio investor (FPI) flows in February. Overseas investors pumped in $3.56 billion into domestic equities last month. Of this $1.96 billion went into financial stocks, data analysed by Edelweiss shows. "The sector now has 34.8 per cent of FPI assets, up from 33.8 per cent in January.
In the season of trading allegations between the Congress and the Bharatiya Janata Party in Gujarat, the opposition party has now turned to Gujarat Chief Minister Narendra Modi government's blue chip company Gujarat State Petroleum Corporation alleging huge irregularities to benefit a company engaged in pipeline manufacturing in Kutch.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
The group companies now lead the market capitalisation league table in sectors such as ports, power generation, gas distribution and transmission, and power transmission and distribution, ahead of incumbents in both public and private sector. This has Gautam Adani family the second wealthiest in business in India.
The length of the main trunk pipeline is 1,385 km from Kakinada to Bharuch and 75 km is the length of the spur lines.
Three stockmarket experts give their best picks for the New Year.
BP and Reliance Industries Ltd are leading the race to pick up a 25 per cent stake in Gujarat State Petronet Corporation and the Adani group's five million tonnes per annum liquefied natural gas terminal at Mundra.
Custom duties, a major concern for the oil sector.
Re-instatement of 5% custom duty on crude imports will help.
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