After a stellar run in 2021 that saw the S&P BSE Sensex and the Nifty50 clock gains of 20 per cent and 22 per cent respectively, global equity markets, including India, are gearing up to welcome 2022 on a cautious note. For one, new variants of the Covid -19 infection that make current vaccines less effective is one of the key risks worth flagging, analysts said. Inflation was also a risk for this asset class in 2021, although most market participants expect that the current elevated inflation levels will be transitory.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
Most players are looking to invest anywhere between $500 million and $1 billion in new ventures in the next couple of years, said experts on this segment.
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
In the mid-year monetary policy review on Tuesday, RBI, left the key interest rate unchanged but reduced cash reserve ratio by 0.25 per cent to infuse additional liquidity of up to Rs 17,500 crore (Rs 175 billion) into the system.
The high-profile bidding war for control of Hutch-Essar could intensify with reports in the British media suggesting that Indian partner Ruias have received funding pledges worth up to $25 billion to buy out foreign stakeholder Hutchison Telecom.
The taxman is rapidly catching up with foreign companies operating in India through agents. After Star, Morgan Stanley and Sony, it was the turn of UK-based Rolls Royce to be asked to pay taxes on a part of profits earned from Indian operations.
Domestic equity markets are in elite company. In May, Indian markets joined select developed markets (DMs) such as the US, UK and Germany to record new all-time highs. Among emerging markets (EMs), Brazil is the other market to have logged new highs this month. Asian peers such as South Korea, Taiwan and New Zealand are currently between 2 per cent and 10 per cent below their previous highs made earlier this year. The domestic markets were among the worst-performing major global markets in April amid a lethal second-wave of covid-19 infections.
Goldman Sachs has amassed $2bn to use for property investments in Asia, a move likely to intensify competition for assets in fast-growing markets such as China and India.
Overall, the positives in favour of ONGC seem to outweigh the negatives from a long-term perspective.
JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley, as well as Britain's Asia-focused Standard Chartered said they would try to support London's financial sector
Call it a revival of the information technology (IT) industry or increase in demand from non-IT sectors, office lease and sale transactions have picked up by 10 to 15 per cent in the past quarter.
But Citi's woes might call for more visionary and charismatic leadership than he can offer.
Food ordering platform Zomato, whose Rs 9,375 crore IPO opens on July 14, is planning to launch a grocery section on its app soon, a senior company official said. The company recently invested USD 100 million (around Rs 745 crore) for acquiring a minority stake in grocery delivery platform Grofers. "It (grocery) is a large opportunity. The online grocery is nascent right now but is growing rapidly not just in India but across the world... "We are actively experimenting in that space and recently invested $100 million for a minority stake in Grofers, with the idea of getting more exposure to that space and building our strategies and plan around that business," Zomato CFO Akshant Goyal said.
After having raised Rs 20,000 crore by selling NFOs, mutual funds are now likely to turn buyers. A slew of funds, including Morgan Stanley ACE Fund, Birla Sun Life Pure Value Fund, Mirae Asset India Opportunities Fund Standard Chartered Fund closed recently. Mutual funds launch NFOs to raise money since the mutual fund penetration in India is low. Most mutual funds expect redemptions on account of advance tax provisioning that corporate houses do at this time of the year.
Foreign institutional investment flows remain key driver for the Indian markets.\n
Fidelity's head of investment strategy defends his lengthy portfolio and explains his approach.
IndiGo heads towards $400 mln IPO as air travel booms.
Even though stocks may remain volatile in the run-up to the polls, as political parties stitch up alliances, the long-term trajectory for the markets remains bullish.
According to a Thomson Financial research, no Indian investment bank figures in the top ten list of the M&A deals that was struck this year, which was topped by UBS.
Notwithstanding concerns about lofty valuations, smallcaps recorded their most significant monthly gain in nearly three years in November. The National Stock Exchange Nifty Smallcap 100 finished the month with a 12 per cent gain, the most since February 2021 when it rose by 12.2 per cent. After declining by 4.1 per cent in the preceding month, the Nifty Midcap 100 rose by 10.4 per cent, the most since July 2022.
Vikram Pandit has taken the helm at the troubled financial-services giant. He talks about the road back.
Morgan Stanley writing down its investment in the e-commerce leader by 27 per cent does not augur well for the sector.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
The under-leveraged nature of corporates will help reduce the impact.
Petronet LNG Ltd, which completed construction of India's first LNG import terminal at Dahej in Gujarat, announced on Monday that it will float an initial public offering of 26.10 crore
India Inc was, perhaps, watching out for a repeat of the dot-com bubble burst of the early 2000s.
Prime Minister Narendra Modi Wednesday said the International Monetary Fund (IMF) sees India as a "bright spot" in the global economy and as per the World Bank, India is in a better position to deal with the global headwinds than many other countries. This is because of India's strong "macroeconomic fundamentals", Modi said while virtually addressing the inaugural function of the 7th edition of Invest Madhya Pradesh-Global Investors Summit in Indore. In the past eight years, the government has increased the speed of reforms and removed many hurdles in the way of investments.
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
Ruchir Sharma on the market potential over the next 12 months
Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh were subscribed, according to information available from the BSE. Adani Enterprises fell almost 20 per cent to below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating in the aftermath of Hindenberg Reserach alleged that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
New Delhi Television Ltd has filed a draft red herring prospectus with Securities Exchange Board of India for its initial public offer of Rs 100 crore (Rs 1 billion).
Petronet LNG Ltd will float an initial public offering of 261 million shares, representing 34.8 per cent of the total equity of the company, around mid-February, P Dasgupta, director (finance), PLL, said in New Delhi on Friday.
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