SoftBank founder Masayoshi Son on Tuesday said its portfolio company Swiggy is expected to deliver "good returns" if the food delivery platform were to go public. Speaking at a post-earnings presentation for SoftBank, Son said one of Swiggy's rivals has recently gone public and its share price is doing great. Last month, Zomato made a stellar debut on Dalal Street with its shares zooming nearly 53 per cent against the issue price of Rs 76, and its market valuation crossing the Rs 1-lakh-crore mark.
Bulls may be pinning hopes on Diwali fireworks at Dalal Street, but fund managers are uncertain whether this time around the 'festival of lights' will again trigger a historic trend of mostly positive movements.
Even as foreign institutional investors rapidly pull out their money from Dalal Street, Norway's sovereign wealth fund, the world's second largest, is set to invest $2 billion in Indian stocks.
This comes a couple of days after activists of the Sena's student's wing, Bharatiya Vidyarthi Sena, targeted establishments that still have Bombay in their names, including the city's prestigious school, Bombay Scottish, a Bombay Dyeing showroom and offices of The Times of India, whose city supplement is called Bombay Times. Senior Sena leaders on Tuesday held a protest outside PJ Towers on Dalal Street and threatened further action if their demand was not met.
According to an analysis of the changes in the listed companies' shareholding patterns since the beginning of this year, the number of companies where foreign institutional investors have raised their holding is bigger than that of those where FII holdings have gone down.
The rally was over before they could even blink.
The total wealth, measured in terms of cumulative market capitalisation of all the listed companies on the Bombay Stock Exchange, has surged to a high of Rs 60,74,290.48 crore (Rs 6,0742.9 billion), the latest data available with the bourse shows.
In an hour-long chat on rediff.com on Wednesday, market expert Pranav Sanghavi offered some valuable tips.
Dalal Street is expected to open a notch higher tomorrow on the back of strong Asian and European cues when markets open after four-day long holiday. Japan's Nikkei ended 1.33 per cent higher on Monday, while Shanghai closed up 1.51 per cent.
Making the things worse, those hitting their record low share prices included big names like Reliance Power, Cipla, Ranbaxy, Ambuja Cement, Hindalco, Indian Hotels, Jaiprakash Associates, Jet Airways, Suzlon Energy and Idea Cellular. Realty majors DLF Ltd, Unitech, Parsvnath, Sobha Developers, Omaxe and Puravankara also plunged to their all-time lows.
Political uncertainty coupled with the absence of buying support and increased selling from foreign institutional investors and local operators pushed the benchmark CSE-40 index down by 8.98 per cent at Calcutta Stock Exchange on Monday.
A sharp sell-off in the Indian equities markets after a spike in crude oil prices should not be surprising. Historically there is a negative correlation between stock valuations in India and the price of Brent crude oil, which is the benchmark for the Indian crude oil basket. Between 2011 and 2014, crude oil traded above $100 a barrel for an extended period, the Sensex-trailing price/earnings (P/E) was 18X, on average, during the period, nearly 22 per cent lower than the current index P/E of 23X.
"In next 12 to 18 months we should see a lot of uncertainty being cleared, and might see a new high certainly in late 2009 or early 2010, when uncertainty in global market is diminished and domestic concerns like inflation and high interest rates come under control," Religare Securities President (equity) Amitabh Chakraborty said.
The CSE is a novel concept created by the students of Indian Institue of Management-Ahmedabad and IIT-Roorkee that allows cricket-crazy fans to trade virtual stocks of their favourite players online.
The UPA government will follow an inclusive reforms agenda all the while keeping a check on India's fiscal health, says Manoj Vohra, research director at Economist Intelligence Unit.
Dalal Street is likely to cross the 15,000 level on Tuesday and may hit the first upper circuit of 10 per cent as the upbeat market sentiment may attract retail investors to cash in on the bullish phase, analysts said.
On the heels of huge success of Parsvnath Developers' public issue, which was over subscribed 62 times, domestic real estate firms are planning to raise nearly Rs 22,500 crore (Rs 225 billion) through their public offerings.
The combined market valuation of all the listed companies in the country dropped to Rs 30,86,075 crore (Rs 30,860.75 billion) on the last day of this fiscal as against Rs 49,72,953.37 crore (Rs 49,729.53 billion) on March 31, 2008, leading to a loss of over Rs 18,86,000 crore (Rs 18,860 billion) during the period.
According to a Credit Suisse report, the steep Sensex fall has validated two fears: (1) The Indian market is linked to global developments; and (2) Foreign flows are the biggest drivers of the market.
Investors on Dalal Street seem to have nothing to fear as over 228 scrips on Wednesday surged to their upper circuit levels, even as the benchmark index Sensex had plunged 10 per cent to touch its lower limit in the morning trade. As per the data available on the Bombay Stock Exchange, 228 scrips across all groups touched their upper circuit limit, representing the cap on the upward movements, while just 132 stocks touched their floor limit.
The circuit breaker system becomes effective at three stages of the index movement -which has been fixed as 10 per cent, 15 per cent and 20 per cent in either BSE's Sensex or NSE's Nifty whichever is earlier.In case of a 10 per cent movement on either side in either of the two benchmark indices, there would be a one-hour halt if this movement takes place before 1 pm
Ahead of the credit policy markets were down by 400 points and after RBI announced the credit policy, it went into a downward spiral falling by another 337 points to below 9,000-points mark, a level last seen in July 2006. RBI on Friday kept its key rates unchanged in the mid-term review of annual monetary policy and lowered economic growth projections to 7.5-8 per cent for 2008-09.
India Inc on Monday expressed optimism that the Congress-led government at the Centre would carry forward the reforms, and the stock market crash was a result of "complete nervousness" among investors, which would recede after the Common Minimum Prog
For a country that is competing globally on the strength of its human talent, bringing ESOPs under the FBT umbrella could increase the costs of hiring and retaining talent.
Besides addressing the inflation problem, the Budget is likely to focus on infrastructure and agriculture.
Undeterred by the volatility on the Dalal street, realty major Emaar MGF on Wednesday said it would go ahead with its plan to enter the capital market for raising up to Rs 7,077 crore (Rs 70.77 bilion) through initial public offer.
While the investors have lost a whopping Rs 6,63,975 crore (Rs 6,639.75 billion) in just one trading session from market cap of Rs 66,17,501.33 crore (Rs 66,175.01 billion) on Friday last week. The investors had lost over 5,21,310 crore (Rs 5,213.1 billion) in the five trading sessions last week.
Market analysts are bullish about the dream run at the bourses.
This trend shows that global cues had a very influential effect on our markets. "We should be growing on our own strength," Kejriwal cautioned, adding the "subprime issue was not resolved, not sorted out, it has just been postponed".
Reliance closed at Rs 2,195, higher by 3.3% on the BSE, after having placed a bid for a controlling interest in LyondellBasell Industries.
Markets can no longer go kaput these days; nor can brokers.
Drama, drama and more drama. This is how one would sum up the action on the stock markets during the last one-month.
price earnings ratio is a tool that loosely reflects the value of a company or the Sensex. Here's how you can calculate it.
Jhunjhunwala passed away early on Sunday morning due to a cardiac arrest, a source in his newly set up airline said.
