You can't be the second-most expensive market in the world and deliver just 10 per cent EPS growth, points out Akash Prakash.
Domestic passive mutual fund (MF) schemes will have to sell around Rs 1,500 crore worth of ITC Hotels shares once the demerged entity lists on the exchanges, according to estimates. Passive MF schemes - especially those tracking the Nifty 50 and Sensex - will have to offload their holdings in ITC Hotels as the stock will be excluded from the indices.
As the Indian stock markets tumble under the panic set off by US President Donald Trump's tariff tantrums, three market experts weigh in on the reasons behind this fall, how much pain is left and how should investors adapt their strategies to invest in markets.
Life Insurance Corp of India (LIC), which is aiming to launch its initial public offering (IPO) next month, is set to alter the pecking order of top listed companies in the country. Depending upon where the government prices the IPO, the stock could end up becoming India's most valuable company on the first day and even get fast-tracked into global benchmark indices given its sheer size. According to market sources, LIC's IPO is targeting to mop up Rs 63,000 crore and Rs 75,000 crore.
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) hit a new high of Rs 4,512 after surging 8 per cent on the BSE in Wednesday's intra-day trade, on the back of heavy volumes, ahead of 1:5 stock split. The trading volumes on the counter more-than-doubled today, with a combined 7.02 million equity shares having changed hands on the NSE and BSE till 11:19 am. In the past one week, the stock of the state-owned travel support services company has rallied 20 per cent after the company on September 29, 2021, said that it has fixed October 29, 2021 as the record date, to ascertain the name of shareholders entitled for subdivision/split of equity shares of Rs 10 each into five (5) equity shares of face value of Rs 2 each.
The embattled Adani Group on Monday attempted to calm the market as a rout in its shares continued, saying its growth plans are intact, business plans are fully funded and it remains confident of delivering returns to shareholders. Market value of the group's seven listed companies has halved since a January 24 report by US-based short-seller Hindenburg Research alleged that Adani pulled "the largest con in corporate history" using offshore tax havens and stock manipulation. The Group has denied all allegations, calling them "malicious", "baseless" and a "calculated attack on India".
Capital markets regulator Sebi has permitted mutual funds to again invest in foreign stocks within the aggregate mandated limit of $7 billion for the industry. This came in the wake of a major correction in global markets that brought down the valuation of international stocks. In January, Sebi had asked mutual fund houses to stop taking fresh subscriptions in schemes investing in overseas stocks. The directive to stop subscription was mainly on account of the mutual fund industry crossing the mandated limit of $7 billion for overseas investments.
Embattled Adani group has appointed accountancy firm Grant Thornton for an independent audit of some of its companies in a bid to come clean of the damning allegations levelled by the US short-seller Hindenburg Research and to assure investors and regulators. Sources said the audit is primarily to show to regulators like the Reserve Bank of India (RBI) that the group has nothing to hide and it is in compliance with relevant laws. The audit will specifically look into if there was any misappropriation or repatriation of funds and if loans were used for any purpose other than the one they were intended for.
Rising crude oil prices, traction in China equities and inflation concerns back home are casting a shadow on the Indian equity markets in the short term, believe analysts at Jefferies. They said this could see the markets remaining range-bound in the near term before the next leg up.
Given the economic trends, it might make sense to allocate some savings to gold.
Investments in Indian capital through participatory notes (P-notes) rose to Rs 1.02 lakh crore till October-end, making it the highest level in 43 months.
If a retail investor wants exposure to a healthcare ETF, it should be a part of his satellite portfolio, suggests Sanjay Kumar Singh.
The Nifty PSU Bank pared losses to end flat after falling as much as 1.05%
In absolute terms, the year closed with the market capitalisation of all BSE-listed companies rising by Rs 45.5 lakh crore to Rs 152 lakh crore, or an increase of 42.8 per cent, compared to the closing value on December 30, 2016, says Pavan Burugula.
ITC, Sun Pharma, Cipla and Tata Steel were top gainers on BSE Sensex
Shares of RIL ended 2.4% higher as it pips TCS to become most valued firm
Tata Consultancy Services, the $73 billion IT group, is India's biggest company by market value and four times the size of any other listed Tata entity
Since its peak, the S&P BSE Sensex has dropped nearly 3,000 points.
Markets ended in red; index heavyweight under pressure.
The breadth, indicating the overall health of the market, was slightly positive
Chinese shares opened lower, with the Shanghai Composite Index down 1.8% and the CSI300 index down 2.2%.
On the BSE, 1,650 shares declined and 1,188 shares rose
They believe that long-term story is intact.
In dollar terms, the Indian markets managed to climb back to 2008 levels only in January this year. The subsequent fall in the rupee because of emerging market woes has once again pushed the markets below their 2008 level in dollar terms.
Sesnsex ended the day flat on heavy selling pressure.
The broader markets were also in top gear, with the BSE midcap index surging by 2.1% at 11,431 and the smallcap index gaining 1.4% at 11,735.
The broadening of the market rally sends the signal that growth will be broad-based, observes Akash Prakash.
The first was wholesale funded banks and non-bank finance companies.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices added 0.6% and 1.3%, respectively to touch their fresh lifetime highs.
'The pressure on relative performance and the feeling of being left out among many investors may also account for the belief among many that this has to be a technology stock bubble.' 'The feeling of a bubble is also reinforced by the extreme performance gap between growth and value investing.' 'While at first glance, one can only stand back awestruck by the wealth creation delivered by technology stocks globally. It does not seem at all like the internet bubble of 1999-2000, says Akash Prakash.
Tata Motors, ONGC, HDFC and TCS were the top gainers.
Markets were left high and dry last week, as the 'Monsoon Effect' played havoc on trader sentiment.
IIP for November 2015 and CPI for December 2015 will be announced today.
Asset managers are betting big on ETFs these days.
Sensex climbs higher on favourable global cues.
Broad-based buying aided sentiment and the market registers record turnover at Rs 6.86 lakh crore
In the broader markets, BSE Midcap index slipped 0.3% whereas the BSE Smallcap index inched up by 0.2%
Sensex catapults 1,241 points and Nifty vaults 382 points in two sessions in a row.
Investors will remain cautious ahead of F&O expiry.
In the metal pack, Tata Steel was up 3.7% while Vedanta was up 1.8% .
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