Alternative investment funds (AIFs) - pooled investment vehicles catering to high net worth individuals (HNIs) - saw a 30 per cent increase in investment commitments during financial year 2022-23 (FY23). At the end of March 2023, the total investment commitments raised stood at Rs 8.33 trillion, up Rs 1.92 trillion from Rs 6.41 trillion at the end of March 2022. A commitment is the money clients are willing to put into AIFs.
Over longer periods of three, five and 10 years, small-cap funds have rewarded their investors handsomely.
Park only savings that need not be touched for many years, says Devangshu Datta.
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
HDFC Bank Q1FY24 results analysis: Shares of HDFC Bank, the world's seventh largest financial entity, have advanced 2 per cent in two days, as against 1 per cent rise in the benchmark S&P BSE Sensex, after the lender reported its April-June quarter (Q1) results for financial year 2023-24 (FY24) on July 17. The S&P BSE Bankex index, meanwhile, has gained 1.3 per cent. While the near-term stock performance may remain sideways due to merger-related hiccups, analysts remain bullish on the stock's long-term prospects.
Shekhar Bajaj, chairman and managing director of the firm, explains to Viveat Susan Pinto on what led to this sales jump, besides throwing light on the benefits accruing to the sector on account of the GST rate cuts in appliances.
Broader market outperformed the frontline indices with the Smallcap and Midcap gaining up to 1%
UBS, Credit Suisse see emerging markets doing well next year, but expect India to underperform, given its rich valuations.
'Large-caps are better placed to withstand the impact of higher input cost inflation, rising rates and withdrawal of excess global liquidity.'
Are we seeing a replay of March 2000? What are the similarities and differences and how worried should we be, asks Akash Prakash.
Tightening Initial Public Offering (IPO) norms, capital markets regulator Sebi on Friday cleared the proposal mandating the issuers to disclose the offer price based on past transactions and fund raising activities. In addition, the board of Sebi approved a proposal introducing an alternative mechanism by permitting "pre-filing" of offer documents for companies contemplating IPOs. Under this, an issuer should make "pre-filing" of offer documents with Sebi and stock exchanges without making it available to the public for an initial scrutiny period only.
Investors can sell their entire equity and move to debt when stocks get expensive
'It is going to be a buyers' market and you will get a good number of companies at reasonable valuations and that's when one has to be very greedy.'
'While lower steel prices may impact a part of the quarter, this will be offset by softer raw material prices.'
For a while, it seemed the markets were going on a free fall.
Post the correction over the past one year, we are seeing opportunities across sectors.
While mid-cap and small-cap funds have given category average returns of 73.3 per cent and 89.8 per cent respectively over the past year, large-cap funds' returns have been lower at 53.9 per cent, points out Sarbajeet K Sen.
The National Company Law Tribunal's (NCLT's) declaration that Zee Entertainment is bankrupt adds a new measure of uncertainty to the proposed merger with Sony. Three entities -- Aditya Birla Finance, IndusInd Bank and YES Bank -- have filed appeals in the NCLT for recoveries of Rs 130 crore, Rs 90 crore and Rs 540 crore, respectively. The money was borrowed by a related party - Siti cable - and not returned. Zee was a corporate guarantor.
Bull run in the markets is likely to continue for next 5 years, says Motilal Oswal MD.
Mid- and small-cap indices have outperformed the frontline benchmarks - the S&P BSE Sensex (up around 10 per cent) and the Nifty50 (13 per cent) - in the first half of calendar year 2021 (H1-CY21) by rallying 26 per cent and 39 per cent, respectively. The trend, analysts believe, is likely to continue in H2-CY21 as well. The outperformance in H1-CY21 comes on the back of improved earnings and strong inflows from the foreign portfolio investors (FPIs) in Indian equities. However, good monsoon so far, gradual opening up of the economy and the pick-up in the pace of vaccination provides support to the market.
Morgan Stanley says the Indian market's performance would depend on policy action.
Markets are likely to go down, correct and stay subdued.
Since infrastructure projects have long gestation periods, investors need to enter them with a long horizon of at least 10 years.
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."
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At present, TCS is the only company with a market value of over Rs 4 lakh crore.
'It will be best for investors to have a systematic investment plan in mid-cap and small-cap funds with a three-/five-year horizon.'
Former Indian cricketer Sachin Tendulkar has joined pre-owned car retailing platform Spinny as a strategic investor and lead brand endorser, the company said in a release on Tuesday. Spinny, however, did not disclose the amount of investment by Tendulkar in the company. Spinny recently became a Unicorn with the closing of a $283 million Series-E round of funding, which took the total capital raised by the platform to more than 530 million and giving it a valuation of $1.8 billion.
Small stocks made a dashing comeback in 2020 after delivering negative returns in the last two years as increased retail investor participation in pandemic times saw small-cap index surging up to 31 per cent and outperforming the bigger benchmark gauge. This year turned out to be eventful for the equity market, witnessing bearish and bullish sentiments at different points of time. While the initial part of COVID-ravaged 2020 saw the bears in full force amid concerns related to the pandemic and lockdowns hurting economic activities, bulls made a comeback towards the latter half of the year. As the market swayed with many lows as well as highs, small and mid-cap indices emerged as markets favourites in 2020.
'After multiple days of losses, any relief rally is welcome. However, the trend hasn't changed.'
The stocks Radhakishan Damani enters or exits are closely watched by fund managers, says Joydeep Ghosh.
Market cap of government companies has remained unchanged in the past 8 years.
After last Monday's massive fall in the Indian markets, a lot of quality stocks have fallen significantly.
Te market is expecting Maruti Suzuki stock to perform well.
Sentiment was hurt after market regulator Sebi directed bourses to initiate action against 331 suspected shell companies.
Udaan - India's largest business-to-business (B2B) e-commerce company - has laid off about 180 employees, or 4-5 per cent of its workforce of 4,000, in a move to drive cost efficiency, revealed sources. They said the layoffs have happened across various department functions. The layoffs have happened at a time when the Bengaluru-based firm is trying to turn into a publicly listed entity in 18-24 months.
For large start-ups the US market is considered to be a preferred destination, as Indian investors were seen as hesitant to pay the kind of valuation private equity investors or the US markets pay. However, Zomato's listing has quashed these notions.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
While domestic market growth is important, the sales trajectory in the international markets, which account for 45 per cent of the revenues, will be a key rerating trigger, say analysts.
'Over the next two quarters, markets will be guided by observing the earnings resilience of corporates during the second lockdown, progress of the monsoon and the damage, if any, to rural spending power due to the second wave.'
Investors should now be looking at trimming their portfolio and making prudent investment decisions
