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.
PB Fintech, the parent of Policybazaar and Paisabazaar, has set a price band of Rs 940-950 apiece for its initial public offering (IPO), which will open on November 1 and close on November 3. The company may be valued at around Rs 44,000 crore, and looking to raise an amount of around Rs 5,826 crore. The IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by existing promoters and shareholders.
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.
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Bank has cited trend of global easing and weak growth
Less-than-expected rainfall and a poor spatial distribution, experts say, can rekindle fears of a rise in food and fuel inflation that can have an impact on the RBI's monetary policy. The fear of less than optimal rainfall due to El Nino this year, analysts believe, is the biggest short-term risk for the markets, which they said has not been fully priced in yet by them. Monsoon set over Kerala on June 08, a week later than its scheduled date.
Analysts expect RIL to report consolidated revenue of Rs 1.40 trillion and 10 analysts expect RIL's net income to be Rs 9,629 crore
Despite a firm improvement in the operational metrics of new-age companies during the January-March quarter (Q4FY23), analysts remain cautiously optimistic about their outlook. This is because the shares of these firms are still not risk free, as per analysts, given the companies are yet to make profits. Kranthi Bathini, director-equity strategy at WealthMills Securities says that while the sentiment around these stocks, which includes Paytm and Zomato, has turned positive, it remains to be seen how soon these firms turn profitable and improve margins.
India's biggest airline IndiGo is set to file the prospectus next week for a domestic stock market listing.
Spread between earnings yield and bold yield lowest since 2013; dividend yield and bond yield lowest since 2008.
While analysts predicted the Sensex to cross 30,000 in 2016, the index currently stands 12% lower at 26,400.
Private equity major Carlyle group on Friday sold shares worth over Rs 4,800 crore in SBI Cards and Payment Services and its nominee stepped down from the company's board. CA Rover Holdings (CARH), a subsidiary of Carlyle group, offloaded more than 4.7 crore shares of SBI Cards and Payment Services Ltd (SBI Card) worth about Rs 4,811 crore through open market transactions on BSE and NSE. With the latest sale of shares, the group's shareholding in the company fell below 10 per cent, following which its nominee director on SBI Card's board -- Sunil Kaul -- stepped down.
Snapdeal said on Wednesday it bought online mobile recharge firm Freecharge for an undisclosed amount.
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A section of the market believes RBI should hold rates as negative real rates will hurt savings and investment.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
Around 250 financial market players will participate in a closed door meeting with Narendra Modi on February 27.
Analysts are eyeing bigger launches that will positively impact company's fortunes.
Logistic players have seen a sharp correction at the bourses over the past six months as intense competition from new-age-tech startups, higher freight rates, and weak macros dented listed players' growth outlook. Analysts warn that the emergence of tech-based startups could weigh on organised players' profit-pool, and can potentially erode their market share. Thus, a stock-specific strategy would be prudent at this juncture with focus on companies that are rapidly innovating and investing in technology.
With sentiment for the automotive (auto) sector turning positive, stocks of two-wheeler auto majors have been hitting their 52-week highs. Hero MotoCorp, Bajaj Auto, TVS Motor Company, and Eicher Motors recently reached their yearly highs on strong sales in the festival season and the expectation of faster growth rates ahead. Since the start of this month, listed two-wheeler majors have delivered returns in the 12-17 per cent range, compared to the 7 per cent gains for the S&P BSE Auto Index and 3 per cent for the benchmark S&P BSE Sensex.
Bajaj Finance's quarterly business update, coupled with around 24 per cent fall over the past six months, has turned risk-reward favourable for investors, observe analysts. They see up to 39 per cent upside in the stock, from a one-year perspective. Global brokerage CLSA, for instance, has upgraded the stock from 'underperform' to 'outperform' with an increased one-year target price of Rs 6,600 (vs Rs 6,000 earlier) as it believes the risk-reward has turned favourable for the counter, and there is scope for expansion if growth remains robust.
Morgan Stanley writing down its investment in the e-commerce leader by 27 per cent does not augur well for the sector.
RBI recently hiked LRS limit to $125,000 or Rs 7500,000 as on Aug 19 with $/rupee rate of 60
Who invested how much into Flipkart in its latest round of $1 billion funding? Vicky Nanjappa/Rediff.com finds out.
India Inc was, perhaps, watching out for a repeat of the dot-com bubble burst of the early 2000s.
FMCG stocks have underperformed the market, falling 2.2 per cent so far in 2014.
Lump sum investments in equity and hybrid schemes of mutual funds (MFs) declined to Rs 17,900 crore in October - the lowest since January 2021. The fall in lump sum investments comes even as flows through systematic investment plans (SIPs) rose to a new all-time high of Rs 13,000 crore in October. The latest lump sum tally is just a third of the peak inflow of Rs 49,700 crore in July 2021.
Alibaba Group Holding Ltd's initial public offering now ranks as the world's biggest in history at $25 billion, after the e-commerce giant and some of its shareholders sold additional shares.
Analysts said any mass cancellation of the coal blocks could lead to a surge in imports and widen the trade deficit given the impact on domestic production.
IIT Roorkee has so far seen the highest domestic salary rise Rs 80 lakh, up by a third from Rs 60 lakh last year.
The company's IPO -- the first by a private bank in a decade -- was oversubscribed a staggering 69.62 times.
Year-to-date, the rupee is the worst-performing currency in Asia, weakening 4.184 per cent against the US dollar.
Interest rate sensitive stocks gain ground post decision
Draft prospectus to be filed next week; second trust, with Panchshil, in a few months
Initial public offerings (IPOs) by start-ups are bringing cheer to investors and investment bankers alike. After food delivery company Zomato, Nykaa has issued the fattest pay cheque to the managers of its share sale -- Rs 148 crore, or 2.8 per cent of its issue proceeds of Rs 5,300 crore. In absolute terms, this is the second-highest amount paid to investment bankers for handling an IPO, while in percentage terms, it is the highest for large IPOs (>$300 million) in the last one year, shows an analysis of the data provided by Prime Database, a primary market tracker.
Amazon India, Flipkart and Snapdeal are currently locked in a battle for market leadership in the burgeoning Indian e-commerce sector.
The figure is based on the base price of spectrum for the upcoming auction fixed by the TRAI and on the assumption that there will be no bidding war.
According to a Deutsche Bank report, the Idea-Vodafone combine will have to pay a 30 per cent lower annual installment on spectrum due to the longer duration of the payment tenure.
Venture capitalists and private equity players have slowed investments in Indian start-ups.
Singh said the warship's commissioning will boost India's maritime power.
With March 2016 being the final quarter when banks will have to disclose their stressed assets, the markets are assuming the worst is yet to come
With the merger between HDFC Bank and HDFC Ltd complete, analysts said the next key monitorable for the Street would be successful resolution of merger-related hiccups, including employee-related churn and roll out of complete banking services across branches. At the bourses, they expect the stock to perform in-line with the benchmark indices in the near-term. "There's usually an initial period of consolidation after a merger as the entities work towards integration.
