Posts in category Business Standard
Street signs: Nifty hits a speed hump, MF industry on tax tightrope, more (16-06-2024)
The mutual fund (MF) industry is concerned that the upcoming Union Budget may bring another tax blow
IIFL Finance Q4 results: Profit down 6% to Rs 430.6 cr on higher provisions (16-06-2024)
For FY24, its consolidated net profit rose by 23 per cent to Rs 1,974.2 crore from Rs 1,607.5 crore in FY23. Its NII rose by 38 per cent Y-o-Y to Rs 4,153.8 crore in FY24
PwC India expects rise in small, mid-size merger & acquisition transactions (16-06-2024)
PwC India anticipates an upswing in the India markets, especially in small to mid-size M&A (merger and acquisition) transactions and growth fundings driven by increasing investors' confidence.
The year 2023 witnessed the emergence of a nuanced M&A landscape, with investors showing interests in diverse strategies and larger-scale ventures, even amid an overall decrease in PE investment, said Sanjeev Krishan, Chairperson, PwC in India.
While PE deals were higher in volume, strategic deals dominated the top deals -- and domestic deals with group-level consolidations were a prominent theme. The first quarter of 2024 marked a resurgence in deal value and volume.
According to a PwC report, top 10 deals of 2023 included JV buyouts, strategic investments, PE buyouts, and stock mergers, and contributed to 21 per cent of the total deal value. While PE deals were higher in volume overall, strategic deals dominated the top deals with domestic deals and group-level consolidations as a ...
Mutual funds industry adds 8.1 mn new investor accounts in Apr-May FY25 (16-06-2024)
The mutual fund industry has added over 81 lakh investors' accounts in the first two months of the current fiscal (FY25), mainly due to consistent marketing efforts, celebrity endorsements and dedicated work of the distribution network.
Additionally, changing perceptions about fixed deposits, which no longer offer competitive returns compared to mutual funds, and the rise in income levels and accessibility to financial markets have also contributed to the rise in new investors, Trivesh D, COO of stock trading platform Tradejini, told PTI.
Going ahead, the outlook for mutual fund folios remains strong, supported by the ongoing bull run in the stock market, solid risk management practices, continuous investor education, and consistent marketing efforts, he added.
Moreover, the industry will continue to see decent growth as savers increasingly look for alternative avenues to create wealth for their long-term goals, experts said.
"As India's per capita income grows, investors will look
Mcap of 5 of top-10 valued firms jumps Rs 85,582 cr; LIC biggest gainer (16-06-2024)
Five of the top-10 most valued firms together added Rs 85,582.21 crore in market valuation last week, with Life Insurance Corporation of India (LIC) emerging as the biggest gainer, in-line with positive trend in equities.
Last week, BSE benchmark Sensex climbed 299.41 points or 0.39 per cent. The 30-share barometer hit its all-time high of 77,145.46 on June 13.
While Reliance Industries, HDFC Bank, Bharti Airtel, State Bank of India and LIC were the gainers, Tata Consultancy Services (TCS), ICICI Bank, Infosys, Hindustan Unilever and ITC faced erosion from their market valuation. The five firms together lost Rs 84,704.81 crore from market valuation.
The valuation of LIC jumped Rs 46,425.48 crore to Rs 6,74,877.25 crore, the most among the top-10 firms.
The market capitalisation (mcap) of HDFC Bank rallied Rs 18,639.61 crore to Rs 12,14,965.13 crore.
Reliance Industries added Rs 10,216.41 crore, taking its valuation to Rs 19,98,957.88 crore.
The mcap of State Bank of India climbed
Global trends to drive markets in holiday-shortened week, say analysts (16-06-2024)
With the absence of any major immediate domestic trigger in sight, investors would focus on global trends and trading activity of foreign investors for further cues in a holiday-shortened week ahead, analysts said.
Movement of global oil benchmark Brent crude and rupee-dollar trend would also guide the market.
"This week is a truncated one with no major triggers expected. However, we anticipate sector-specific movements amid budget-related buzz. Key factors to watch will be progress of monsoon and institutional flows," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
On the global front, data from China, movement in the dollar index, and US bond yields will be crucial, he added.
Equity markets will remain closed on Monday on account of Bakri Id.
"This week, shortened by a holiday on Monday, will see participants looking to global markets, particularly the US, for cues in the absence of major events," Ajit Mishra SVP, Research, Religare Broking Ltd, said.
Last week,
Marshall Machines reports standalone net loss of Rs 1.31 crore in the March 2024 quarter (15-06-2024)
Sales decline 54.68% to Rs 5.52 crore
AI Champdany Industries reports consolidated net loss of Rs 41.05 crore in the March 2024 quarter (15-06-2024)
Sales decline 44.59% to Rs 9.17 crore
Jnk India bags order from Reliance Inds (15-06-2024)
Jnk India said that it has received mega order from Reliance Industries (RIL) for Gas Cracker Unit (GCU) de-bottlenecking (DBN) project at RIL's Dahej Manufacturing Division (DMD), Gujarat in India.
Jnk India bags order from Reliance Inds (15-06-2024)
Jnk India said that it has received mega order from Reliance Industries (RIL) for Gas Cracker Unit (GCU) de-bottlenecking (DBN) project at RIL's Dahej Manufacturing Division (DMD), Gujarat in India.