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.
The study focuses solely on persons with a net worth of $30 million and above (after accounting for shares in public and private companies, residential and investment properties, art collections, planes, cash and other assets).
That bliss is set to end soon, with the finance ministry planning to make it mandatory for individuals and Hindu undivided families to report assets and liabilities in income-tax return forms.
A new generation of investors has taken to stock trading on mobile phones with a renewed zeal, driven mainly by social changes after the Covid-19 pandemic breakout. The proportion of the cash market turnover ascribed to mobile phones has jumped from 5.3 per cent in June 2019 to 18.7 per cent in June this year, reveals BSE data. The share of mobile trading on the National Stock Exchange (NSE) for June this year stood at 19.5 per cent.
Despite its recent underperformance, gold must be a part of your portfolio.
'Whenever markets rally, the IPO pricing gets aligned to the prevailing market conditions.'
With an aim to further liberalise the capital market, the government is contemplating to allow foreign individuals - Qualified Foreign Investors (QFIs) - to buy equities directly in stock markets, a senior Finance Ministry official said.
Private lenders like Federal Bank and Axis Bank have set up branches that have special areas for children, with books, toys and video games to keep them engaged while their parents are busy doing banking transactions.
Products structured on real estate and promising over 20 per cent annual returns are gaining popularity among wealthy investors.
Barely two weeks after opening a special branch for high networth individuals, the State Bank of India (SBI) on Monday launched an exclusive branch for corporate salary accounts at the DLF Cyber Centre at Gachibowli in Hyderabad - its first in the state.
Alternate investment guidelines protect investors against fraud, but the risks for HNIs have increased.
The local police on Tuesday registered an FIR naming Indian-born global CEO of the bank Vikram Pandit and 10 other officials in the Rs 300-crore (Rs 3 billion) Citibank fraud case.
These investors were lured into investing funds on promise of high returns by Puri, the main accused in the Rs 300-crore (Rs 3-billion) scam.
The alleged mastermind of Rs 300 crore (Rs 3 billion) Citibank fraud, Shivraj Puri, invested most of the funds raised from corporate entities and high networth individuals in derivative instruments in stock markets.
Private banking refers to customised service, including wealth management, provided to high networth individuals.
After wooing the urban poor here with its 'One Rupee Bank' account, State Bank of India is now aggressively targeting the crorepatis.
Gland Pharma, promoted by China's Fosun, has extended its gains, is up 40 per cent since its listing.
Several investors opine that mutual funds have been making a distinction between subscribers based on their investment values. Investors with high value net investments are charged nil or lesser entry & exit loads. The MFs have been justifying this by saying that it helps them to get more subscriptions and enables them to invest in large-cap and high-value Sensex stocks.
For high networth individuals, IRFs could be a good hedge against loans or existing fixed deposits.
The wealthiest have the lowest level of giving at 1.6 % of household income.
With India fast emerging as an important leisure marine market, traders at the Mumbai International Boat Show (MIBS) 2010 hope to sell around 100 small boats and luxury yachts to high networth individuals (HNIs) in the country.
Money invested in real estate, for income and capital growth, provides stable and predictable returns similar to bonds offering a regular return on investment, if the property is rented, as well as capital appreciation.
The broader NSE Nifty sank 252.55 points, or 2.14 per cent, to 11,558.60.
During a verification of electronic returns, the department found that as many as 1,714 taxpayers under the self-assessment scheme (where tax-payers determine their tax liability and pay accordingly) had not paid their tax dues. In a few cases, the amount due was around Rs 100 crore (Rs 1 billion). The government made it compulsory for companies to file their returns online from 2006.
After the biggest aviation extravaganza in Bangalore, it's time now for the biggest boat show in the financial capital of the country.
Realty major Unitech has sold a hotel in Gurgaon for Rs 200 crore (Rs 2 billion) and is close to selling another hospitality project by June-end for a similar amount, as part of its exercise to raise funds for reducing debt.
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).
Puravankara Projects scores better than its peers on growth and profitability.
Your net worth indicates your financial health; here is a little help on how to get going.
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.
Indian HNIs registered the second fastest growth of 20.5 per cent, says the Asia-Pacific Wealth Report released by Merril Lynch and consulting firm Capgemini.
Expecting the Indian economy to sustain 7 to 9 per cent growth, leading French bank Societe Generale on Wednesday launched a private banking facility to tap $560 billion assets of the growing upper class Indians.
News broadcaster New Delhi Television's initial public offering has received bids about 17 times the issue size at the close of bidding on Wednesday.
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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