Nimesh Kampani of JM Morgan Stanley believes that a good quality IPO would always get a response from investors.
Jefferies, IIFL, and JM Financial - none of which were in the top five last year - have now claimed the top spots in the league tables for equity capital markets (ECM) during the first nine months of calendar year 2023 (CY23), a period characterised by small- and mid-sized transactions. This shift marks a significant change, with these firms outperforming the bulge-bracket investment banks. According to data provided by Refinitiv, Jefferies leads the domestic ECM market, having handled share sales worth $2.3 billion, representing 12.4 per cent of the total volume of $18.4 billion for ECM transactions.
Technology stocks are likely to lead the decline in this market.
'FDI is not a big issue because Indians are in now a position to raise big money.'
'I think we will win the game if our GDP grows at 7.5 to 8 per cent,'\nsays stockmarket legend Nimesh Kampani.
The cellular phone companies using the WLL-CDMA technology will increase their subscriber base by 86.6 per cent in 2004-05 as against the expected growth of 40 per cent in GSM customers, according to a study.
While commercial vehicles are expected to benefit from strong replacement demand, the two-wheeler and tractor segments are expected to gain from a recovery in the rural economy.
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).
Indian equity markets had a good run in the first half of calendar year 2023 (CY23), with the S&P BSE Sensex and the National Stock Exchange Nifty50 hitting fresh 52-week highs. While the Sensex scaled up to a peak 64,718, the Nifty50 hit Mt 19,189. As the markets now prepare to enter the second half (H2) of CY23, all eyes are on global central banks, especially the US Federal Reserve, as to when they will pause and pivot as regards their interest-rate cycle.
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.
The government has appointed Kotak Mahindra Capital Co, DSP Merrill Lynch and JM Morgan Stanley as book runners for the public issue of 10 per cent equity shares in state exploration firm Oil and Natural Gas Corporation.
Food delivery platform Zomato has filed preliminary papers with capital market regulator Securities and Exchange Board of India (Sebi) to raise Rs 8,250 crore through an initial share-sale.
Thus far in FY21, BSE, NSE have rallied 70 per cent and 71 per cent, respectively.
The Bangalore-based company had raised $200 million in July from existing investors.
State-owned BSNL would be the biggest gainer followed by MTNL if the government changes the inter-connect usage charges, based on TRAI's consultation paper, according to a recent report by equity research firm J M Morgan Stanley.
Morgan Stanley Capital International has added Maruti Udyog to its India index with effect from August 29.
Morgan Stanley Capital International's quarterly rejig of global stock indices later this week is not expected to trigger huge market moves as the main review will be in May, analysts said on Monday.\n\n\n\n
Sensex has lost almost 1,500 points since December 31, 2014.
This is not the first time Reliance has eyed a stake in the club.
India is set to witness a 'significant' growth in its market capitalisation during the next five years because of combination of a host of factors
Historically, Indian stocks trade at earnings multiple of 17-18 times. At current prices, the earnings multiple for the Sensex is 26 times.
Equity markets rallied after softer-than-expected inflation data in the US and UK rekindled hopes of the end of the rate-hiking cycle by major central banks. The soft inflation reading drove down bond yields and the US dollar, whetting the appetite for risky assets. The 10-year US bond yield fell below 4.5 per cent after topping 5 per cent less than a month ago.
Petronet LNG Ltd, which will become India's first LNG importer when Qatari RasGas' cargo lands at its Dahej import terminal in January next, has planned an initial public offering of equity shares in the same month.
The Securities and Exchange Board of India has cleared the initial public offering by Indraprastha Gas Ltd, after the market regulator decided to defer implementation of T+6 norms for the book building issues.
But Indians work less than smaller countries with small populations like Bhutan, the Congo, Lesotho and Gambia.
Morgan Stanley expects RBI to cut rates sharply rather than "dribble down".
India's prices are rising faster than many of its emerging market peers. The country's inflation print for May at 4.25 per cent is a marked reduction from the levels seen in May 2022 (7.04 per cent). However, even though the inflation rate remains within the Reserve Bank of India's medium-term target of 4 per cent, with a 2 per cent margin on either side, it continues to be higher than China, Russia, and Brazil.
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