The country's most valuable lender HDFC Bank can perhaps no longer claim to be a favourite of foreign portfolio investors (FPIs). Two data indicators, both somewhat interconnected, point to this - the diminishing premium of HDFC Bank's American depositary receipts (ADRs) compared to local shares, and the ample investment opportunities available to FPIs in the domestic market. The ADR premium has shrunk to below 5 per cent, down from over 30 per cent in March 2021, and even lower than recent levels.
Premier bourse BSE has added 1 crore registered investor accounts to its platform between June 6 and September 21, taking the total to over 8 crore in a span of just 107 days. On June 6 this year, the exchange had said its registered user base has crossed the 7 crore (70 million) mark, which was an addition of 2 crore registered investor accounts in a little over 12 months (from May 23, 2020). Commenting on the achievement of crossing the 8 crore registered investor accounts on Tuesday, BSE MD and CEO Ashishkumar Chauhan said equity investments, whether directly or through mutual funds, are gaining ground over last one-and-a-half years due to variety of reasons globally, and the domestic market is also following this world trend.
Analysts believe that investors should look at stocks that hit 52-week lows only if they have a dividend paying track record, are debt-free and have sound fundamentals.
Uniparts India and PNC Infratech are the latest companies to file initial public offer papers.
Analysts expect banks with a strong deposit franchise to benefit from SBI's rate cut as they too are likely to follow the leader.
The plot C-65 in the G Block of Bandra Kurla Complex was leased to Goisu Realty (a unit of Sumitomo) for 80 years by MMRDA.
National Hydroelectric Power Corporation, the central power utility, has shortlisted five merchant banks for its initial public offering likely to hit the market in first quarter of FY08.
Japanese drug major Daiichi Sankyo on Saturday deferred its proposed open offer to acquire an additional 20 per cent stake in Ranbaxy Laboratories, citing a delay in approvals from market regulator Securities & Exchange Board of India.
After two years of a record low interest-rate regime, Indian corporate houses are experiencing a sharp and abrupt increase in funding costs. With the Reserve Bank of India last month making an unequivocal turn towards policy tightening amid high inflation, firms looking to tap the capital markets for funds are ending up shelling out more. The yield on the benchmark triple-A-rated corporate bonds maturing in three years has climbed 98 basis points (bps) since the policy rate hike in May. It was last at 7.47 per cent, Bloomberg data showed.
rediffGURU Ulhas Joshi answers your mutual fund queries.
Equity benchmark indices rallied nearly 1 per cent to re-visit the 59,000-mark on Monday, tracking heavy buying in index heavyweights Reliance Industries and ICICI Bank. The BSE benchmark rose 442.65 points or 0.75 per cent to settle at 59,245.98. During the day, it jumped 504.92 points or 0.85 per cent to 59,308.25.
Reliance-Google's new smartphone has got mixed reviews from analysts and brokerages. The phone pricing is seen unattractive for low-end customers and bundled offers are being viewed as non-disruptive. While this could slow the pace of adoption, it could set the stage for tariff hikes in the industry, feel analysts.
Vijay Mallya-controlled UB Group's open offer for acquiring stake in liquor firm Shaw Wallace will begin on April 18, the manager to the offer said on Thursday.
Equity benchmarks bounced back to end in the positive territory after trading lower for most part of the session on Thursday. The 30-share BSE Sensex climbed 223.60 points or 0.37 per cent to settle at 61,133.88. During the day, it had declined 431.22 points or 0.70 per cent to 60,479.06.
Raising a child as a single mother in India can be challenging, especially when it comes to managing finances.
A formal sector worker can contribute towards pension scheme till the age of 58.
Distribution yields could rise, but risk of Covid, higher interest rates remain.
Size matters on the road. Small is not dominating India's car market any more. The share of cars priced up to Rs 5 lakh in the passenger vehicle market has fallen to 10.5 per cent in the first 11 months of 2021-22, compared with 26 per cent in 2018-19 (FY19), the lowest in four years, according to data from industry sources. Even the share of those in the price range between Rs 5 lakh and Rs 7.5 lakh has dropped to 32.4 per cent in the same period, from 34.9 per cent.
Finance Minister P Chidambaram on Thursday told global investors that no further measures were in the offing to curb capital inflows, even as he said India would ease procedures for foreign institutional investors (FIIs) to register and do business in the country.
Do it if you are sure of generating sufficient trading volumes.
Equity benchmarks Sensex and Nifty gave up early gains and ended lower by 1 per cent on Wednesday amid a largely weak trend in Asian markets and sell-off in index majors Reliance Industries, ICICI Bank and HDFC twins. The 30-share BSE benchmark Sensex tumbled 635.05 points or 1.03 per cent to settle at 61,067.24. During the day, it slumped 763.91 points or 1.23 per cent to 60,938.38. The broader NSE Nifty declined 186.20 points or 1.01 per cent to end at 18,199.10.
HDFC Asset Management Company (HDFC AMC) reported a healthy profit after tax (PAT) of Rs 430 crore for the July-September quarter (Q2) of financial year 2023-24 (FY24). It rose 20.2 per cent year-on-year (Y-o-Y) and decreased 8.4 per cent quarter-on-quarter (Q-o-Q). This was driven by good equity returns, leading to a sequential improvement in revenue yields.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
L&T has acquired Cafe Coffee Day-owner V G Siddhartha's 20.32 per cent stake in Mindtree and has also placed an order with brokers to pick up another 15 per cent shares from the open market.
The BSE also launched a report 'Because I am a Girl' on Tuesday, which focuses on the economic empowerment of the girl child. It was also released simultaneously in 15 countries, including at the Sydney and Dutch Stock Exchanges.
The combined weight of IT companies in the benchmark Nifty 50 index is now at a five-year high of 15 per cent as these companies continue to outperform the broader market.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries:
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
ICICI Securities, Daiichi Sankyo's offer manager, has indicated that there will be a delay in payment for Ranbaxy's accepted shares as the acquisition of the country's largest drug maker is yet to clear all regulatory and procedural hurdles. Daiichi has agreed to accept Ranbaxy shares from the open market as well as its promoters for Rs 737 a share. The company's scrip closed at Rs 347.2 at the Bombay Stock Exchange on September 22.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
There are several positive reasons to invest in the NTPC offering from a three-year perspective.
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
Among the Sensex firms, Kotak Mahindra Bank, Tata Steel, ITC, ICICI Bank, Bajaj Finserv, Maruti, Mahindra & Mahindra and State Bank of India were the biggest winners. Tata Consultancy Services, Infosys, HCL Technologies, Tech Mahindra, Asian Paints, Wipro and Tata Motors were the biggest laggards.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
In a written reply to the Rajya Sabha, Minister of State for IT and Communications Shakeel Ahmad said a consortium of consultants led by ICICI Securities has suggested some options for restructuring of MTNL and BSNL.
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