Adani Wilmar (AWL) joined the elite group of companies with market capitalisation (m-cap) of Rs 1 trillion after the stock of Gautam Adani-led edible oil company hit a new high of Rs 802.80, up 5 per cent on the BSE in Tuesday's trade.
Leading stock exchange NSE, which is facing allegations of governance lapses, has started the hunt for a new managing director and chief executive officer as the five-year tenure of incumbent chief Vikram Limaye is ending in July. The exchange has invited applications from candidates having IPO (initial public offering) experience for the role of the top post before March 25, according to a public notice issued on Friday. Limaye is eligible for another term. However, as per Sebi's rule, the incumbent needs to compete with other candidates to win the next term.
A lot of gains have been driven by foreign portfolio investors. Lower interest rates globally have forced foreign investors to seek avenues for growth. They have been net buyers to the tune of Rs 2.5 trillion over the trailing 12 months, including May, reports Sachin P Mampatta.
SoftBank founder Masayoshi Son on Tuesday said its portfolio company Swiggy is expected to deliver "good returns" if the food delivery platform were to go public. Speaking at a post-earnings presentation for SoftBank, Son said one of Swiggy's rivals has recently gone public and its share price is doing great. Last month, Zomato made a stellar debut on Dalal Street with its shares zooming nearly 53 per cent against the issue price of Rs 76, and its market valuation crossing the Rs 1-lakh-crore mark.
Falling valuations, slowing funding rounds and faltering investor sentiment seem to have prompted many start-ups to lay off employees in a bid to conserve cash. The latest to do so is SoftBank-backed Cars24, a leading e-commerce platform for pre-owned vehicles, which has laid off over 600 staff, according to sources in the know. The move, they said, is aimed at conserving cash amid cautious investor sentiment and a slowdown in funding.
The first step to keeping your job safe, experts tell Rediff.com's Divya Nair, is understanding why layoffs happen.
Global markets trends, inflation, release of industrial output data and quarterly earnings will dictate movement of the equity benchmarks this week, analysts said, adding that volatility might continue amid slew of announcements of macroeconomic data at the global level too. Moreover, foreign fund movement, crude oil prices and trend in rupee would also act as major drivers for the equity market, they added. "The direction of global equity markets along with movement in dollar index and crude oil prices will continue to dominate while inflation numbers of the USA on May 11 and inflation and IIP numbers of India on May 12 will also cause volatility in the market," said Santosh Meena, head of research, Swastika Investmart Ltd.
An audit conducted by professional services firm Alvarez and Marsal confirms fintech firm's dealings with fake or non-existent vendors.
Among the many exits from the billionaire's club in 2022 are D Uday Kumar Reddy of Tanla Solutions (net worth down 66 per cent), Sushil Kanubhai Shah of Metropolis Healthcare (down 65.7 per cent), Vijay Shekhar Sharma of One97 Communications (down 66 per cent), and C K Birla (down 43.4 per cent).
'There is a lot of interest from potential clients who have remained away from the markets in past years.' 'They are evaluating whether this is a good time to enter, especially since there are very few alternatives to earn meaningful returns.'
The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.
'The government is trying to kickstart the investment cycle in India and while the corporate investments are yet to gather momentum, there are early signs of the same.'
With scrutiny that comes with a public listing, Deepinder Goyal's leadership could face its sternest test yet.
Investing in unlisted shares is not difficult. At any given point, many investors and employees are willing to sell their holdings because they need money. Buyers can negotiate a price with them, suggests Sarbajeet K Sen.
The 2022-23 Budget has projected a disinvestment target of Rs 65,000 crore for next financial year. This is significantly lower than the estimated Rs 1.75 lakh crore budgeted for 2021-22. In the revised estimates, the target for 2021-22 has been cut to Rs 78,000 crore.
The market price action seems to point in this direction. Let's hope we finally break out. It is about time! asserts Akash Prakash.
What would an Indian American president of the US look like, sound like and act like, especially on issues and policies pertaining to his or her 'mother-land'?, asks N Sathiya Moorthy.
NSE managing director and CEO Vikram Limaye on Wednesday said that he will not seek a second term at the stock exchange when his five-year term ends in July. This comes amid the National Stock Exchange (NSE) facing the regulatory probe in a case related to governance lapses at the bourse as well as in the co-location matter. "I have informed the board that I am not interested in pursuing a second term and will therefore not be applying and participating in the process that is underway. My tenure ends on July 16, 2022," Limaye said in a statement.
The 3G, 4G data and Airtel Money services are the next growth engines for the company in Africa.
Ola was supposed to expand to the Netherlands, Kenya, Dubai, Israel, and Brazil.
Investments in Indian capital market through participatory notes (P-notes) dropped to Rs 94,826 crore till November-end after hitting 43-month high in the preceding month. P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be a part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process.
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
IT and ITeS companies accounted for $28.1 billion of the total investment pie during the first nine months of 2021.
As if wanting to be an antidote to the coronavirus pandemic, the Indian stock market adorned carnival robes in 2021 with a tsunami of liquidity unleashed by global central banks coupled with supportive domestic policies and the world's largest vaccination drive sparking off a world-beating rally on Dalal Street, despite bouts of uneasiness over fizzy valuations. While the wider economy shuttled between recovery and relapse, dictated by multiple mutations of the virus, equity market benchmarks appeared headed in just one direction -- skywards. The dizzying upward journey has added a whopping Rs 72 lakh crore during 2021 to investors' wealth, measured as the cumulative value of all listed shares in the country, taking it to nearly Rs 260 lakh crore.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
With the new owner shelling out Rs 18,000 crore for the buyout of 'Maharaja' this would be the highest ever amount garnered through privatisation or even the cumulative sum garnered through strategic sale in 1999-00 to 2003-04. The government had garnered roughly over Rs 5,000 crore during that five-year period by privatising 10 CPSEs.
In mid-2020, when Kushal Pal Singh, the undisputed king of India's vast real estate market, relinquished the top post at the country's largest realtor, he left behind an empire that is best compared to the Greek myth of the Phoenix. Once the leader of Delhi's organised real estate market, DLF's steep decline in the 1970s and its majestic rise since has often been cited as a business resurrection story. Now, a year after his departure from the helm of affairs, history seems to be repeating itself at the real estate major. In the 1970s, it was the government prohibitions that had forced DLF to venture into uncharted territory; some five decades later, the Delhi-headquartered firm has set its eyes on another growth trajectory that holds immense potential.
HCL Technologies on Monday announced a special one-time bonus worth over Rs 700 crore for its employees, as the IT giant marked $10 billion (about Rs 72,800 crore) revenue milestone. The special bonus will be paid to employees in February 2021, amounting to nearly $90 million plus payroll taxes in some countries, the impact of which is excluded from FY21 EBIT (earnings before interest and taxes) guidance provided by the company last month, HCL Tech said in a statement. HCL Technologies said it is "issuing a one-time special bonus to employees around the world" worth over Rs 700 crore in recognition of its recent milestone of crossing the $10 billion mark in revenue for 2020.
Yes bank is entering the capital market on June 15 with an initial public offering of 70 million equity shares of Rs 10 each for cash at a premium to be decided through the book building process.
2022 is shaping up as the year brimming with job opportunities for people who possess relevant skillsets. Therefore, it is crucial for fresh graduates and young professionals to enroll in relevant certification courses to add more feathers to their introductory portfolio
The bourse's valuations may get a boost, as it gets set for its OFS of about Rs 10,000 crore.
India is currently home to 52 unicorn startups and one of the fastest-growing startup ecosystems.
The government has decided to spend big on infrastructure across a wide variety of sectors to give a greater impetus to the economy which is recovering from the impact of Covid-19, Finance Minister Nirmala Sitharaman said on Monday.
The NSE held 25 to 100 per cent stakes in these entities through its subsidiary NSE Investments as of September.
Bangalore-based MindTree Consulting is floating an Initial Public Offering of 5.6 million equity shares of Rs 10 each to raise anywhere between Rs 200-240 crore
From Network18 perspective, this helps reduce dependence on ads and helps especially in times of slower GDP growth.
Securities and Exchange Board of India (Sebi) chairman Ajay Tyagi on Thursday defended the recent reforms announced by the regulator, such as peak margin norms and shortening of the trade settlement cycle, saying they were in the interest of investors. The moves were criticised by the broking community and the foreign portfolio investors (FPIs). Speaking to the media after his inaugural address at the CII Financial Markets Summit, Tyagi said: "The new peak margin norms are in everyone's interest.
Overall, the positives in favour of ONGC seem to outweigh the negatives from a long-term perspective.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
