Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.
Leading non-banking financial company (NBFC) Shriram Finance on Friday said Japan-based MUFG Bank would invest Rs 39,618 crore, or $4.4 billion, to acquire a 20 per cent stake on a fully diluted basis through a preferential issue of equity shares.
Udaan, India's largest business-to-business (B2B) e-commerce company, has received approval from the National Company Law Tribunal (NCLT) for its internal corporate restructuring plan, according to sources. By consolidating into a single entity, the restructuring will enhance Udaan's agility and pave the way for various financing options, including the ability to pursue an initial public offering (IPO) in India by 2026, according to people familiar with the matter.
Foreign portfolio investors (FPIs) have net sold domestic shares worth over $10 billion so far this month amid a shift to China, which not only offers attractive valuations compared to India but has also announced several measures to support the economy and the stock market in recent weeks. If the trend doesn't reverse, this will be the first time that overseas funds will yank out more than $10 billion from Indian equity markets in a month.
On a five-day rolling basis, FPI selling is the highest in 24 years.
The domestic equity markets are expected to extend gains following the strong showing of the Narendra Modi-led Bharatiya Janata Party (BJP) in the state elections - a crucial precursor to the general elections in May. The BJP decisively secured victories in three of the four key states - Madhya Pradesh, Rajasthan, and Chhattisgarh. While the battles in these three states were closely contested, the scale of the BJP's triumph has surprised many, heightening expectations for regime continuity in 2024 - a positive catalyst for the markets.
'Investors need to be stock specific and should not rush to buy stocks at the current levels.'
Foreign portfolio investors (FPIs) sold shares worth Rs 20,170 crore ($2.4 billion) recently. This marked the fifth-highest weekly outflow from overseas funds since the beginning of 2008 and the largest since the last week of March 2020. Due to the Covid scare, FPIs had sold shares worth Rs 21,951 crore during that week, causing the market to decline by nearly 20 per cent.
'Earnings will be the catalyst for markets to march higher from here on out.'
Fast-moving consumer goods major Dabur India is set to enter the branded spices and seasoning category. It has signed an agreement to acquire 51 per cent in Badshah Masala for a cash consideration of Rs 587.52 crore. The acquisition, the company says, is in line with its strategic intent to expand its food biz to Rs 500 crore in three years.
Rating agency Fitch on Tuesday downgraded the US government's top credit rating to AA+ from AAA, citing fiscal deterioration over the next three years and repeated debt ceiling negotiations. The development caused a flutter across equity markets, with most leading frontline global equity indices trading weak. Back home, the S&P BSE Sensex and the Nifty50 lost over 1 per cent each in intra-day deals to hit a low of 65,751.53 and 19,517.55 levels, respectively.
Foreign portfolio investors (FPI) flows have turned positive on a trailing 12-month (TTM) basis for the first time since December 2021. Thanks to robust inflows over the past three months, the TTM overseas flows into domestic equities stand at over $7.3 billion-the most since November 2021. This has helped propel one-year Nifty returns to 12 per cent.
FPIs have turned net sellers in 2022 after being net buyers in the last three years.
Foreign portfolio investors (FPIs) turned net buyers in October after being net sellers in the previous month. In October, FPIs bought shares worth nearly Rs 8,430 crore ($1 billion) against net selling of Rs 13,405 crore ($1.6 billion) in September. Positive flows during three of the previous four months have pushed the domestic markets towards fresh all-time highs. At present, the Sensex and Nifty are less than 2 per cent shy of breaching record highs logged in October 2021. A rally in equity markets in the US and Europe is in hopes that the Federal Reserve may go soft on rate hikes after its November meeting.
In August, domestic equity markets garnered one of the highest foreign portfolio investor (FPI) flows since the outbreak of the pandemic in 2020, despite the US Federal Reserve standing firm on unwinding its stimulus measures to control inflation. FPIs pumped in over Rs 51,000 crore ($6.4 billion) in August, the most since December 2020 and the third-highest tally since March 2020-the month the Covid-19 pandemic roiled global markets. This was the second consecutive month of positive foreign flows. In the preceding nine months, FPIs had yanked out over $32 billion or Rs 2.2 trillion.
Maharashtra is looking for potential investment from the US electric car major Tesla in the state and has held discussions with the company, weeks after Tesla revealed its plans to enter the Indian market.
The faster-than-expected rise in interest rates by the US Federal Reserve (US Fed) shook global financial markets in early 2022. And now the ongoing war between Russia and Ukraine has lifted commodity prices, with Brent crude oil hitting a 14-year high of $139 a barrel in intraday trade. All these developments have sent the equity markets across the world into a tailspin.
Banking technology start-up Zeta is the latest entrant to the unicorn club after raising $250 million in its Series C round from SoftBank Vision Fund 2. Sodexo participated as an additional minority investor in the round. Founded by serial entrepreneur and billionaire Bhavin Thurakia, the startup is now valued at $1.4 billion. It is the 14th company this year to cross the $1 billion valuation mark after Meesho, Cred, Pharmeasy, ShareChat, Moglix and others.
IIM Lucknow has concluded its 2020-21 final placements.
The deluge of offerings in the primary market, a muted results season and increasing talks of a Fed taper may quicken the pace of overseas investors selling Indian equities in the near term. The next few weeks may see a dozen companies tap the market for initial public offerings and raise about Rs 30,000 crore. These include the likes of Zomato, Glenmark Life Sciences, Utkarsh Small Finance Bank and Seven Islands Shipping.
India's scandal-hit Satyam Computer Services is to invite formal bids from potential suitors this week, pushing ahead with a possible sale - even though it could be months before its accounts are restated.
Quant funds have a very short track record, and have underperformed so far, reveals Sarbajeet K Sen.
The market breadth has turned sharply positive since May amid hopes that a decline in Covid-19 infections will lead to a revival in the economy. At 3.8, the advance-decline ratio (ADR) for May was the best since June 2020. So far this month, the ratio has remained above three - in simpler words, for every declining stock, there were nearly four advancing stocks in May and three this month. ADR is a popular market breadth indicator, with a ratio of more than two signalling an extremely bullish undercurrent.
Recent days have seen a clutch of local brokerage houses, including Way2Wealth, Fortune Financial Services, Antique Stock Broking, Centrum Capital, Avendus Capital and Ambit Capital, luring analysts and senior executives from foreign brokerage houses and leading local equity broking firms by offering meaningful equity stakes.
Domestic equity markets are in elite company. In May, Indian markets joined select developed markets (DMs) such as the US, UK and Germany to record new all-time highs. Among emerging markets (EMs), Brazil is the other market to have logged new highs this month. Asian peers such as South Korea, Taiwan and New Zealand are currently between 2 per cent and 10 per cent below their previous highs made earlier this year. The domestic markets were among the worst-performing major global markets in April amid a lethal second-wave of covid-19 infections.
147 domestic and international recruiters -- including Ola, Amazon, Flipkart and Xiaomi -- hired all 460 graduates.
So far this month, another $4.5 billion (Rs 33,000 crore) has flown into domestic stocks.
Experts said banking is a play on the economy and the latest buying into this space is underpinned by hopes of a sharper-than-expected recovery in the economy.
A weak economy coupled with rising Covid-19 cases and inflation that is above RBI's comfort zone, geopolitical developments, and upcoming India Inc's second quarter results for FY21 could impact sentiment, analysts say.
The new round values the company at $2.5 billion, more than double the over $1 billion valuation Dream 11 enjoyed in April 2019 when it was declared the country's first gaming unicorn.
The V-shaped rebound has been aided by a gush of liquidity flooding the global financial system, thanks to balance sheet expansion.
The markets have been unable to sustain at higher levels as a rise in bond yields globally, especially in the US have dented sentiment. Surging commodity prices, especially crude oil that have now hit $70 a barrel (Brent) coupled with inflation woes and fear of sporadic lockdown across major economic hubs back home as Covid cases rise have chased the bulls away. In the short-term, analysts expect the markets to remain volatile as they react to news flow - both from overseas and developments back home. Investors, they say, need to keep a tab on how the US treasury yields move, which in turn will have a ripple effect on how big money moves across developed (DMs) and emerging markets (EMs), including India.
In the past four months, $7.5 billion has flowed back into domestic stocks, helping the benchmark indices bounce back more than 40 per cent from their 2020 lows.
They have been on an unbroken selling streak since the Union Budget, spooked by increase in income-tax surcharge, taxes on buybacks, and lack of stimulus to prop up the economy.
In about a year, top e-commerce companies are expected to raise as much funds as the three sector leaders raised in about five years.
While FIIs have pumped in nearly Rs 17,000 crore, MFs have been net buyers to the tune of Rs 9,000 crore.
The weakness in the rupee and broader markets has led to evaporation in the market cap.
After turning net buyers for the fifth straight month till June, foreign portfolio investors (FPIs) withdrew a net of Rs 11,743 crore ($1.7 billion) in July. This was their highest outflow since October 2018.
After last year's lull, number of offers jump by 15%.
E-commerce firms like Amazon, Flipkart, Myntra and others witnessed successful festive season sales this year, Experts say e-commerce adoption in the country is accelerating by multiple years or what it would have looked like in 2025.
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