Higher rural incomes, pay commission benefits, and lower interest rates are key positives: Analysts
Paytm's Rs 18,300 crore IPO was oversubscribed 1.89 times on the last day of India's biggest share sale on Wednesday, making it one of the country's most valued companies. The initial public offering of Paytm's parent company One97 Communications Ltd received bids for 9.14 crore equity shares against the offer size of 4.83 crore shares, according to information available from stock exchanges. While the portion set aside for retail investors was oversubscribed early, institutional buyers including FIIs flooded the share sale with offers on Wednesday, seeking 2.79 times the number of shares reserved for them.
'Many of the challenges of investing in commercial real estate get taken care of when an investor takes the Reit route,' points out Suraj Nangia.
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
'We will continue to build new engines of growth in terms of innovations, enter newer categories, and look at newer propositions.'
Given the dimensions, it is bound to have at least ripple effects across markets. Could ripple turn into cascade? asks Devangshu Datta.
The retail frenzy over initial public offers (IPOs) seen over the past few months is not without reason. Over the past two years, 61 companies have tapped the primary market and raised funds via IPOs. Of these, 24 companies (nearly 39 per cent companies) have more than doubled at the bourses with Happiest Minds, IndiaMart Intermesh, Indian Railway Catering and Tourism Corporation (IRCTC), Affle India and Route Mobile surging 468 per cent to 722 per cent since their listing date till now. Retail participation in the equity market, according to analysts, has just reached an inflection point due to the low interest rate regime amid lack of investment-worthy avenues that can generate a good return for investors.
Will 2022 be a year of contrasting narratives -- one filled with caution and the other with continued optimism?
As much as 9 crore shares will be sold over two days, with institutional investors getting to bid on the first day and retail ones getting a chance on Friday.
High net worth individuals (HNIs) are considered more investment-savvy than retail investors.
'Gold could return 10% to 12% in the next two-three years.'
At least five companies looking to raise a cumulative Rs 6,595 crore could launch their initial public offerings (IPOs) next month after a busy August that saw eight IPOs. On Thursday, south-based diagnostic chain Vijaya Diagnostics announced its plans for a Rs 1,895-crore IPO. Ami Organics will announce its plans for a Rs 600-crore issue on Friday.
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Star Health and Allied Insurance's Rs 7,250-crore initial public offering (IPO), the third largest this year and eighth largest ever, just about managed to make it despite a poor response from investors, garnering just 79 per cent subscription, forcing the investment bankers to prune offer for sale (OFS) component. This is the second large offering after digital payments major Paytm this year to receive a lukewarm response from investors, a sign that despite the IPO frenzy investors are discerning when it comes to pricing. As Star Health didn't meet the profitability criteria, its IPO required a mandatory 75 per cent subscription from qualified institutional buyers (QIB).
Instead of getting swayed by market gyrations, investors must stay invested for the long term, advises Sarbajeet K Sen.
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.
Even retail investors are talking about investing in start-ups.
The strong response for the IPOs, however, has shifted liquidity away from the secondary markets, with the benchmark Sensex falling 1.3 per cent in the previous two trading sessions.
Total assets under management (AUM) for September stood at Rs 20.4 lakh crore compared with Rs 20.6 lakh crore at the end of August.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
The rally in the broader markets, a spate of new listings, and the influx of retail investors have resulted in a boom for research and this has spurred a surge in the number of entities providing such services. From 467 entities that provided research services as of March 2018, the number jumped 57 per cent to 733 as of March 2021. And, another 46 entities have been added to the list in the six months since, to take the total number of registered research analysts to 779 as on September 13. However, the total number of analysts could be a multiple of this number.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
Industry players credit Sebi's first woman chairperson with putting special emphasis on cyber security, use of tech and data, areas where Sebi is trying to 'stay ahead of the curve'.
Treat silver as part of the procyclical or growth assets in your portfolio, advises Sanjay Kumar Singh.
'The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner.'
'Whenever markets rally, the IPO pricing gets aligned to the prevailing market conditions.'
'Investors should be careful in getting carried away; although a reversal of IPO frenzy this time is taking longer than in the past.'
The initial public offering (IPO) market has come to a grinding halt due to sharp correction in the broader markets and uncertain outlook created by the Russia-Ukraine offensive. So far this year, only three companies have managed to launch their maiden share sales. In comparison, close to 10 companies were able to come out with their IPOs during the same period last year. Investment bankers say it will be challenging to launch a single deal in March as large institutional investors have turned extremely risk-averse and don't wish to commit any capital.
If you don't have a specific goal, but want intermittent liquidity, then ladder your FDs, that is, invest in FDs of varying maturities, such as one, two, three, five or even 10 years. Laddering ensures FDs mature at regular intervals.
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Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
Rates on tax-free bonds are linked to government securities.
JM Financial, Axis Bank, and Bank of America have been roped in as the bankers to run the mandate, say sources.
There are, however, a few aspects to factor in before considering G-Secs as an investment option, advises Bindisha Sarang.
In a mixed bag for HDFC Bank ahead of the parent HDFC's merger with itself, the Reserve Bank of India has declined to make exceptions on certain aspects, and has offered some leeway on others. The country's largest private sector lender, which is aiming to conclude the merger with the home finance major by July, had written to the central bank seeking certain forbearances after announcing the $40-billion merger in April last year. In an exchange filing this evening, HDFC Bank said it received a response from RBI on Thursday and also said that there are a few pending issues.
The dozen firms to have listed following their IPOs have seen an average listing day gain of 49 per cent. IPO applicants have made money on all the deals, barring two, which saw modest declines on listing day.
In other debt-oriented funds, retail assets jumped from about Rs 45,000 crore to Rs 64,000 crore.
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