The Ministry of Defence (MoD) on March 30 signed contracts with Indian shipyards, Bharat Dynamics, Bharat Electronics, and BrahMos Aerospace for equipments worth over Rs 35,000 crore.
Posts in category Business Standard
Stock Market Live: SGX Nifty flat; Asia-Pacific shares edge higher (31-03-2023)
Stock market live updates: As of 7:40 am, the SGX Nifty suggested a muted start at 17,251 levels
Nifty Commodities show bearish trend, suggest ‘sell-on-rise’: Ravi Nathani (31-03-2023)
The technical analyst recommends traders to employ a “sell on the rise” strategy when trading Nifty Commodities, given that its short-term pattern appears to be trading within a range of 5,600-5,400
Stocks to watch: RIL, Tata Power, Hero MotoCorp, Shakti Pumps, BDL, RVNL (31-03-2023)
Stocks to watch today: From Reliance Industries to Hero MotoCorp, here are stocks to watch in Friday’s trading session
After worst streak in 22 years, India’s $3 trn mkt positioned for a rebound (31-03-2023)
After outperforming over the past two years, Indian stocks are Asia’s worst performers in 2023 amid concerns over monetary policy tightening and weak sentiment due to value erosion at the Adani Group
No stop to the drop: Markets set for fourth straight monthly decline (30-03-2023)
If the Nifty finishes in the red for the month, this will be the first time in over two decades that the index has fallen for four straight months
Equity fund raising slumps amid sharp market volatility in FY23 (30-03-2023)
IPO mop-up down 52%; QIPs plunge 92%
Small stocks lag behind in FY23, take bigger hit than bluechip firms (30-03-2023)
Small stocks have lagged behind the equity benchmark Sensex in 2022-23, falling nearly 6 per cent amid a host of negative factors like higher interest rate regime, high inflation and the Russian-Ukraine war.
According to market analysts, it was a tumultuous year for the Indian equity market.
The Russian-Ukraine war made the first quarter of the Indian equity market particularly difficult, but the second and third quarters witnessed a respectable rebound, they noted.
Headwinds such as high inflation, the Russia-Ukraine war and higher interest rates hit investors’ appetite for small stocks.
With just one day of trading left in the current fiscal, the BSE smallcap gauge has fallen by 1,616.93 points or 5.73 per cent so far in 2022-23. The midcap index is down 270.29 points or 1.12 per cent in the 2022-23 financial year.
In comparison, the BSE Sensex has declined 608.42 points or 1.03 per cent.
“Many factors contributed to the underperformance of the Indian stock market in FY23. The
Domestic steel demand will continue to see healthy growth till FY25: CRISIL (30-03-2023)
The domestic stainless steel demand is expected to grow at a compound annual growth rate (CAGR) of 9 per cent till 2024-25 financial year, according to Crisil Ratings.
The domestic demand for stainless steel was at 4 million tonnes (MT) in fiscal 2021-2022, the ratings agency said in a report on Thursday.
“Domestic demand for stainless steel is projected to log a healthy compound annual growth rate of 9 per cent in the three fiscals through 2025, double the 4.5 per cent pace of the past five fiscals,” the Crisil Ratings report said.
The demand will be driven by increasing adoption of stainless steel in railways which is a focus area for government infrastructure spending, and rising application in the automobile and construction sectors.
The demand growth, in turn, will spur capacity additions.
However, the credit profiles of players are expected to remain comfortable, given stable profit levels and healthier balance sheets.
“Adoption of stainless steel is increasing because of i
Fund raise via IPO more than halves to Rs 52,116 cr in FY23 from FY22 (30-03-2023)
The total amount raised through initial public offerings (IPOs) more than halved to Rs 52,116 crore in FY23 from an all-time high collection of Rs 1,11,547 crore in the previous fiscal, according to an analysis.
According to Prime Database, just 37 companies hit the main board listing process in FY23, much lower than 53 IPOs in FY22.
Pranav Haldea, managing director of Prime Database Group, said Rs 20,557 crore which is 39 per cent of the total amount raised in FY23 was by LIC alone, without which the IPO fundraising would have been just Rs 31,559 crore in the year. Yet, FY23 is still the third highest in terms of IPO fund-raise, he said.
Overall public equity fundraising also dropped by 56 per cent to Rs 76,076 crore in the reporting year from Rs 1,73,728 crore in FY22.
While IPOs were worth Rs 54,344 crore (including SME issues) in the year, total fund raising through the capital markets stood at Rs 85,021 crore, of which Rs 11,231 crore were from the OFS (offer for sale) route,