Discounts for retail investors may become a part of the government's disinvestment policy, instead of being offered on a case-to-case basis. The discount offered could be up to 10 per cent of the issue price.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
As many as 20 central public sector enterprises and their units are at various stages of strategic disinvestment, while six are being considered for closure or are under litigation, Minister of State for Finance Anurag Singh Thakur said on Monday.
Select companies in infra, capital goods, private banks, auto, oil & gas, and mining could be considered by investors.
Another FPO, that of NMDC, is also likely to be held by end-this fiscal, the official said.
NMDC chairman Rana Som has left for the Panna reserves to assess the production and commercial operations of the mine and understand the commercial viability of the project to come out with a definite date for resuming mining in the area. Last month, the steel ministry had said the reopening of the mine will be a top priority for the government.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
NMDC pitted against Tatas, Essar on Bailadila deposits.
Govt seems to bullish to meet its disinvestment target in current fiscal.
The divestment process, however, will not be an easy affair as there are multiple stakeholders, including the employee unions, whose concerns will have to be addressed.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Some overseas investors refuse to be part of roadshows, citing environment risks
Naxal violence in Orissa has also put several investment proposals in jeopardy.
'Kindly advise about the following stocks. Can I hold or exit?'
The list mostly contains PSUs which were up for sale in the last fiscal.
Divestment in PFC, REC, NHPC, Nalco, Hindustan Copper and NMDC could be considered
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The decline in these was mostly due to company or sector-specific issues, say experts.
The NSE 50-share index, after moving between 10,572.20 and 10,546.20, ended at 10,565.30, up 39.10 points, or 0.37 per cent.
Chairman says turnaround has begun in sector expects 10% growth in firm's core business this year.
Chairman of insurance giant says it has invested Rs 16,000 cr in equity till Oct.
This comes at a time when the COVID-19 crisis is expected to derail the government's revenue maths for 2020-21, hitting the mop-up from sources such as taxes and divestment.
They may up prices by Rs 750-1,700/tonne on rise in iron ore prices and higher railway freight rates
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
Fresh worries for NTPC and NMDC auctions after the tepid response to the discount pricing of Hindustan Copper's stake sale.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Dipam is conducting the selection of merchant bankers and legal advisors, and planning roadshows.
Market cap of government companies has remained unchanged in the past 8 years.
A new government has taken office in Australia, which has said it will review its predecessor's controversial proposal for a 40 per cent super-profit tax on mining revenues.
Finance Minister Arun Jaitley, in the Budget for 2015-16, is likely to target around Rs 43,000 crore (Rs 430 billion) from divestment proceeds, almost the same level that the government expects to realise from stake sale in PSUs this fiscal.
The explorations by the world's biggest diamond producer De Beers and the country's largest iron ore miner NMDC have found traces of kimberlite and lamproite in Orissa, Andhra Pradesh and Karnataka, indicating possible diamond deposits there.
Ban fiats, freezes and new levies are ensuring a drying up of operations and new investments, complain companies.
Rana Som, chairman and managing director of state-owned miner NMDC that is currently raising money through a follow-on public offer, is something of a contrarian. He believes the government gives employees more decision-making freedom than private sector promoters.
The bill has now been sent to the Mines Ministry for fine tuning and the final draft is to be placed before the group of ministers at its next meeting.
The official said the price hike was on account of an increase in input costs, adding that the revised steel prices were effective from January 1.
The provision in the new mining bill approved by a group of ministers last week for 26 per cent profit sharing by mining companies with affected residents of the area they operate in hasn't been welcomed by many in the sector.
Traditionally, most PSUs have been cash-rich, which added to their value. However, the government has been tapping regularly into their cash resources to boost revenue for the exchequer
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