Private-sector lender Federal Bank on Friday announced that New York-based Blackstone will invest Rs 6,196.51 crore in the bank through its affiliate Asia II Topco XIII Pte Ltd via a preferential issue on a private placement basis.
UBS Securities, broking arm of the largest Swiss bank, and Australia's Macquarie Equities Research are the most bearish.
Foreign portfolio investors (FPIs) have net sold domestic shares worth over $10 billion so far this month amid a shift to China, which not only offers attractive valuations compared to India but has also announced several measures to support the economy and the stock market in recent weeks. If the trend doesn't reverse, this will be the first time that overseas funds will yank out more than $10 billion from Indian equity markets in a month.
Reliance Industries Ltd, India's most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said.
ICICI Bank share price hits record high, ICICI Bank m-cap tops $100 billion: Shares of ICICI Bank have been on a steady uptrend, rising 30 per cent over the past one year; not far behind Axis Bank stock that surged over 34 per cent during the period. The BSE Sensex, meanwhile, is up 25 per cent, and the BSE BANKEX 22 per cent in the last one year, ACE Equity data shows. On Wednesday, June 26, ICICI Bank shares hit a fresh record high for the third consecutive day, rising 2 per cent on the BSE in the intraday trade.
On Thursday, Adani Enterprises announced that it will not go ahead with acquiring Macquarie group's two road companies at an enterprise valuation of Rs 3,100 crore.
Steel Authority of India Ltd is poised to outpace its metal sector rivals, including private players giants like Tata Steel and Hindustan Zinc on the stock market radar going forward, the analysts believe.\n
Axis Bank, HCL Technologies, Maruti Suzuki, NBCC and Union Bank are their top five stock picks.
Signaling a downtrend ahead, global research firm Macquarie has said profit-booking is likely to emerge at current levels after the Indian equity markets emerged as the second best-performing market in Asia in the last three months.
The Cabinet Committee of Economic Affairs has approved a hike in gas prices from April 2014.
HDFC and HDFC Bank's merger - touted as India's biggest-ever corporate merger - pumped up shares of the two entities on the bourses. Shares of Housing Finance Development Corporation (HDFC) skyrocketed 9 per cent while those of HDFC Bank zoomed 10 per cent. In comparison, the benchmark S&P BSESensex and the Nifty50 indices settled 2.2 per cent higher on Monday.
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.
While HDFC Bank has vowed to recoup its lost market share in the credit card segment in three to four quarters by aggressively sourcing new cards, brokerages believe it is a little hard to come by, given how competitive the landscape has become, with other players in the market becoming equally aggressive to gain market share. Kotak Institutional Equities in its report on Monday said, "We would like to believe that the recovery in market share is likely to be gradual, if any. "All the key players, including Axis Bank, are now willing to expand their credit card portfolios as they have tested quite well against Covid-19."
At a time when banks are engaged in a fierce battle to gain market share in the credit card segment, Citibank India has been losing its share, both in terms of outstanding cards and spends in the last few years. Still, average spends on Citi cards are higher than any other Indian bank. Last year, the global banking behemoth announced exit from its consumer banking franchises in 13 markets across Europe, Middle East and Asia, including India, citing lack of scale.
Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends.
Select companies in infra, capital goods, private banks, auto, oil & gas, and mining could be considered by investors.
Major global indices like CAC 40, DAX Shanghai Composite, Hang Seng, Nikkei, Straits Times, Sensex, Nifty have lost 1% - 10% in a week
Viom Networks is planning to raise arouns Rs 1500 crore (Rs 15 billion) and is likely to list its shares on the London Stock Exchange (LSE), say sources.
FIIs have offloaded stocks worth Rs 13,110 crore
If the rupee falls further, it would negatively impact the dollar-based returns of foreign investors, and could influence foreign flows into India.
The sentiment around Indian equities remains positive and unchanged.
A day after global brokerage firm Macquarie painted a rosy picture of the Indian economy and raised its target level for the stock indices for the next 12 months, Goldman Sachs said India is set to overtake China and become the fastest-growing emerging market during 2016-18.
Global markets could correct 5-10 per cent. If that happens, Indian markets will correct about 10 per cent
Higher growth justifies current run-up, say experts.
With commodity markets remaining soft and uncertain, it is likely the money will flow into equity markets with strong upsides, such as India.
Experts suggest domestic factors rather than the Greece crisis would determine the course of the Indian equities.
Markets such as Bengaluru and Chennai, which had managed to escape the impact of real estate slowdown so far, appear to be giving in now.
On Wednesday, FIIs sold shares worth Rs 1,573 crore.
Better margins, lower interest outgo could see the company turn profitable in FY15.
Analysts said FIIs had created long positions worth Rs 9,700 crore (Rs 97 billion) in index futures till recently.
Reliance Industries and ONGC were down 4-6% each contributing the most to the Sensex losses
Most experts said indices would open higher on Monday and rally might sustain for a few sessions
Another year of strong performance by these export-oriented sectors likely as US economy revives and rupee is expected to be under pressure.
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