'The long-term impact of elections is minimal.'
Equity supply may hit Rs 6 trillion soon.
'The correction in the markets in the initial part of August provided investors a good buying opportunity.'
Many promoters still consider the cash in the company as their money and are averse to sharing this pie with minority investors, points out Akash Prakash.
Shares of Tata Consultancy Services (TCS) jumped 4 per cent on Tuesday, taking its market valuation to above Rs 15 lakh crore mark. The stock of the country's second most valued firm by market valuation jumped 4.05 per cent to settle at Rs 4,133.45 apiece on the BSE. During the day, shares of the company climbed 4.45 per cent to Rs 4,149.75 -- its all-time high.
Shares of Avenue Supermarts (DMart) have gained about 5 per cent over the past week on better than expected June quarter (Q1FY25) performance, hopes of a recovery in discretionary demand, and margin gains going ahead. The key takeaway from the results was the robust gross margin performance. Riding on improving mix, DMart posted a 34 basis point year-on-year (Y-o-Y) improvement in gross margins to 14.9 per cent.
'Ratan had the quality that JRD and Russi Mody had -- they could walk with kings and never lose the common touch.'
Power generation decelerated 4.7 per cent year-on-year (Y-o-Y) to 155 billion units (BU) in August 2024. This was the first downtrend in many years, albeit on a high base - generation had increased 19 per cent Y-o-Y to 163 billion units (BU) in August 2023. The dip was partly due to excess rainfall, which pared cooling demand and also reduced need for irrigation.
'Higher valuation remains the only spoiler for equities.'
'...which is possible through flexicap and multicap funds.' 'The latter has a better balance between large, mid and smallcap stocks.'
During the dot-com bubble, it had touched a high of 1.9.
'We expect the bull-market phase to still persist, but now led by large-caps which offer better valuation and benefit from FII inflows.'
'We expect continued pressure on midcaps, but any sharp correction looks unlikely from here on.'
The listed information technology (IT) subsidiaries of engineering giant Larsen & Toubro (L&T), LTIMindtree (LTIM) and L&T Technology Services, have seen sharp upmoves over the past fortnight, with returns ranging from 14 to 18 per cent. Both have outperformed the peer index, the National Stock Exchange Nifty IT, which has gained about 8 per cent, while the benchmark Nifty 50 is up 4 per cent during this period.
Edtech major Byju's top official on Wednesday said the company's $200 million rights issue has been fully subscribed and asked all shareholders to participate in the "renewed mission". Think and Learn Private Limited, which operates under Byju's brand name, has floated $200 million rights issue at less than 99 per cent enterprise valuation compared to its peak valuation of $22 billion. "Our rights issue is fully subscribed and my gratitude to my shareholders remains strong.
'Many do not have robust business models, and their prospects of survival and long-term growth are poor.'
Arjun Mohan, CEO of India operations of Think and Learn, which owns Byju's brand, has resigned from the beleaguered firm, which on Monday also announced a business rejig consolidating its operations into three verticals. Mohan had joined Byju's in July last year as the CEO for international business after quitting rival UpGrad in February as CEO. Later, he was given charge of India operations in September after Byju's then CEO Mrinal Mohit resigned. After taking over the charge, Mohan undertook restructuring of the organisation which led to layoffs of around 4,000 employees at Byju's.
'Exposure to small and midcap stocks exceeded desired levels in many portfolios, prompting rebalancing.'
Competition Commission of India on Wednesday said it has approved the merger of the media assets of Reliance Industries and Walt Disney Co to create the country's largest media empire. The deal, announced six months ago, has been cleared by the CCI with certain modifications proposed by the two parties.
'Despite the animosity shown by some of the investors in pursuing uncalled for legal actions, we continue to show good faith towards all our shareholders.'
Food and grocery delivery major Zomato has pulled the plug on its plan to enter the lending business. Zomato Financial Services, a wholly-owned subsidiary of Zomato, has withdrawn its application for a non-banking financial company (NBFC) licence with the Reserve Bank of India (RBI), stating that the company does not have plans to pursue lending in the future. "There is no material impact on the revenue/operations of the company and this disclosure is being made voluntarily," the Gurgaon-based company said in a regulatory filing on Tuesday.
'For experienced and risk-taking investors, now may be the time to go all in.' 'By 'experienced and risk-taking', I refer to those who remained net buyers in equities during the early stages of the 2020 pandemic.' 'On the other hand, those who exited the markets during the pandemic may go the SIP way.'
Flush with funds, quick commerce unicorn Zepto is planning to relocate from Powai in Mumbai to a larger office space in Bengaluru's Sarjapur to accommodate its imminent new hires. While the company will maintain an office in Mumbai, its primary operations will shift to the new space in Bengaluru. A spokesperson for Zepto confirmed the development
Companies like Flipkart, Amazon and Meesho as well as quick commerce ones like Blinkit, Zepto and Swiggy Instamart may create hundreds of thousands of seasonal jobs for the coming festival season.
While near-term performance is difficult to predict after a huge run-up, fund managers believe the PSU theme's prospects remain sound over the medium to long term.
The outflows could be a result of a mix of factors led by the underperformance of some of the larger funds amid elevated return expectations.
The edtech major promised a learning revolution, offering hope to millions of under-educated youth. Now, those dreams are shattered, observes Devangshu Datta.
While BlackRock is an existing investor in Byju's, T Rowe joined as a new investor.
The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.
Market players attribute the rally in small and midcaps to flows from retail investors and domestic institutions.
Shares of Le Travenues, which operates online travel booking platform ixigo, soared 78 per cent on their market debut (June 18) and surged 80.4 per cent in the three days over their issue price. Ixigo has joined competitors EaseMyTrip and Yatra on the bourses. Analysts believe the blockbuster response to ixigo may lead to greater scrutiny of the financial performance of other online travel aggregators (OTAs) like Easy Trip Planners, and Yatra Online.
This makes it the most valued fintech company in the country after Paytm and Walmart-owned PhonePe.
'Despite the current uncertainties, the long-term outlook remains constructive due to strong fundamentals, government initiatives, and a stable banking sector.'
Venture capital (VC) and private equity (PE) funding for Indian startups in the artificial intelligence sector has seen a dramatic decrease with deal sizes shrinking, notwithstanding the buzz around the country's potential as a major AI hub. Data from research agency Traxcn, which tracks PE/VC investments, shows that total funding for AI startups in India, which started with a bang in 2022 at $599 million, dropped sharply in 2023 to $168.4 million - a decrease of over 71 per cent.
Hong Kong has regained its spot as the world's fourth-largest market following a broad market rout in Indian equities. Currently, the Chinese territory's market capitalisation stands at $4.9 trillion versus India's $4.75 trillion, according to data compiled by Bloomberg. In January, the domestic equity markets' market capitalisation had surpassed that of Hong Kong following a spectacular rally in the small- and midcap stocks.
From the Sensex basket, Power Grid, IndusInd Bank, Tata Motors, JSW Steel, NTPC, HCL Technologies, Tata Steel, ICICI Bank, Mahindra & Mahindra, Axis Bank, HDFC Bank and Reliance Industries were among the major laggards. Among the gainers, Hindustan Unilever climbed over 5 per cent. Tech Mahindra, Nestle, ITC, Wipro, Tata Consultancy Services and Kotak Mahindra Bank were the other major gainers.
'Subject to any worldwide economic collapse.'
'It is advisable to stay away from the markets for now and buy only on a dip.'
Food delivery platform Zomato has laid the foundation for its third vertical of growth by agreeing to acquire Paytm's entertainment and ticketing business, said analysts on Thursday (August 22). Zomato, which also runs a quick commerce business called Blinkit, will strengthen its 'going out' offering but the acquisition may take time to yield results, they said. "Paytm's entertainment and ticketing arm will be part of Zomato's District app, which is due to be launched in the coming weeks.
With the IPL kicking off, speculations are rife that the former Indian cricket team captain M S Dhoni will hang up his boots after handing over the captaincy of Chennai Super Kings (CSK) to Ruturaj Gaikwad. However, brand experts believe this is not the end of the road for Dhoni as a celebrity, and he still has some mileage left even if he completely retires. Dhoni is expected to continue being associated with CSK even after retirement, according to a media report.
The froth in the small and midcap (SMID) space is limited to a few pockets, but regulatory scrutiny could lead to sustained volatility, observe India's top-drawer wealth managers. They add that they have been advising clients to reduce their exposure to smallcaps. Anand Rathi Wealth, which manages investor wealth through mutual funds (MFs), reports that its exposure to smallcap stocks, both through MFs and directly, has decreased by nearly 7 percentage points in the past few months, now standing at 23 per cent.
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