Weak economy and high interest rates in India, which have adversely affected cash flows and debt-servicing ability, have prompted the companies to improve their financial profiles.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
Broader market underperformed with the BSE Midcap and the BSE Smallcap indices losing up to 0.2%
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
India's sovereign credit ratings do not reflect the economy's fundamentals, the Economic Survey said on Friday and nudged the global agencies to become more transparent and less subjective in their ratings. The Economic Survey 2020-21, tabled in Parliament, said that sovereign credit ratings methodology must be amended to reflect economies' ability and willingness to pay their debt obligations, and suggested that developing economies must come together to address this bias and subjectivity inherent in sovereign credit ratings methodology. "Never in the history of sovereign credit ratings has the fifth largest economy in the world been rated as the lowest rung of the investment-grade (BBB-/Baa3). While sovereign credit ratings do not reflect the Indian economy's fundamentals, noisy, opaque and biased credit ratings damage FPI flows," the survey said.
Thus far in 2017-18, FIIs and MFs have invested Rs 198.91 billion and Rs 1,119.49 billion in the Indian equity markets. Of this, around Rs 152.46 billion has come in January alone.
BSE Auto index fell over 0.5% after reports that automobiles might get costlier post GST
NTPC, Sun Pharma Coal India and Asian Paints were among top losers on BSE Sensex
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
His portfolio was worth Rs 12,333 crore at the end of June 2018. It was worth Rs 10,633 crore at the end of the September quarter. Smallcaps account for the largest number of his stock-picks. Such a fall has now happened for the third quarter in a row.
BSE Midcap and BSE Smallcap indices hit their fresh lifetime highs for the second day in a row
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
S&P is the only of the three major credit agencies with a 'negative' outlook on India.
The market breadth, indicating the overall health of the market was strong
There is immense pressure on Biyani to go ahead with the RIL offer after FRL defaulted on its interest payments of Rs 100 crore on July 22.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
On BSE, 1,469 shares fell and 1,200 shares rose. A total of 190 shares were unchanged.
Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
The S&P BSE Midcap and S&P BSE Smallcap indices hit a new lifetime high
Aptech, Lumax Industries, Vedanta, Indian Bank, Venky's India have appreciated over 200% in a year
L&T was the top gainer in the Sensex pack, rising over 3 per cent, followed by Bajaj Finance, Reliance Industries, IndusInd Bank, SBI and HDFC Bank. NSE Nifty surged 168.05 points to 14,653.05.
After a stellar run that saw the frontline indices - the S&P BSE Sensex and the Nifty 50 - clock gains of around 21 per cent and 24 per cent respectively in calendar year 2021 (CY21), the year gone by in real sense belonged to the mid-and small-cap segments. Thus far in CY21, the mid-and small-cap indexes on the BSE have far outpaced the run in the frontline indices and notched up a gain of around 38 per cent and 61 per cent, respectively during this period. Though analysts expect the outperformance to continue in 2022, they caution against the multiple headwinds in the year ahead that may dent the overall market sentiment.
Global forecasting firm Oxford Economics on Monday revised downwards its India GDP growth forecast for 2021 to 10.2 per cent from 11.8 per cent previously, citing the country's escalating health burden, faltering vaccination rate and lack of a convincing government strategy to contain the pandemic. Oxford Economics also said that notwithstanding the likelihood of further mobility restrictions, it expects India's targeted lockdown approach, less stringent restrictions, and resilient consumer and business behaviour to mitigate the economic impact of the second wave.
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
Broader market outperformed the frontline indices with the Smallcap and Midcap gaining up to 1%
The Dow has never lost more than 800 points in a day.
As regards India, FIIs have pumped in over Rs 34,400 crore in the Indian stocks in calendar year 2021.
In the Sensex pack, HDFC, ONGC, Bharti Airtel, Titan, Asian Paints, Mahindra and Mahindra and TCS were the prominent gainers. On the other hand, ICICI Bank, IndusInd Bank, NTPC, UltraTech Cement, Tech Mahindra and SBI were among the major laggards. On the other hand, HCL Tech, Tech Mahindra, HUL, Bharti Airtel and ICICI Bank were trading in the red.
Broader gains were capped as investors awaited corporate results from major firms
How did marquee Dalal Street investors fare in the Jan-Mar quarter that saw the BSE Sensex tank 10 per cent?
Post partnership with S&P, the exchange is looking at launching a slew of international products, too.
East European countries have better rating than India though their economies are not as stable as the latter.
Sahai, who did his master's in economics from the University of Delhi, is currently head of Citi's Securities and Fund Services business.
S&P in November ruled out an upgrade in the country's rating for some considerable period, citing India's low per capita GDP and relatively high fiscal deficit.
IndusInd Bank was down nearly 1% even after it reported a 21% rise in its fourth-quarter profit
Investors with high risk appetite must stay invested while risk-averse investors can consider profit booking.
India deserves a rating upgrade in view of improvement in macro-economic situation, the conservative outlook of Standard & Poor's notwithstanding, Finance Minister P Chidambaram said.
It believes that there had been "little progress" in structural reforms.
S&P warned about spending on subsidies and heavy government debt.
After a stellar run in 2021 that saw the S&P BSE Sensex and the Nifty50 clock gains of 20 per cent and 22 per cent respectively, global equity markets, including India, are gearing up to welcome 2022 on a cautious note. For one, new variants of the Covid -19 infection that make current vaccines less effective is one of the key risks worth flagging, analysts said. Inflation was also a risk for this asset class in 2021, although most market participants expect that the current elevated inflation levels will be transitory.
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