Zero-yield bullion tends to do well in a lower interest rate environment

Electronic manufacturing services provider Avalon Technologies and construction firm Udayshivakumar Infra have received capital markets regulator Sebi’s go ahead to raise funds through initial public offerings (IPOs).
The two companies, which filed their respective preliminary IPO papers with the markets regulator during August and September 2022, obtained observation letters from it on January 16, an update with the Securities and Exchange Board of India (Sebi) showed on Monday.
In Sebi’s parlance, its observation implies its go ahead to launch the initial share-sale.
Going by the draft papers, the IPO of Avalon Technologies comprises fresh issue of equity shares worth up to Rs 400 crore and an Offer-for-Sale (OFS) aggregating up to Rs 625 crore by promoters and existing shareholders.
The company may consider raising Rs 80 crore through a pre-IPO placement, and if such a placement is undertaken, the size of the fresh issue will be reduced.
Proceeds from the fresh issue would be u

Investment in the Indian capital markets through participatory notes slightly dropped to Rs 96,292 crore at the end of December 2022 from the preceding month on higher valuation of domestic markets.
Before the decline, the investment through the route had been on an increasing trend since July because of a slump in prices of oil and other commodities and relative outperformance of Indian equity markets.
Participatory notes (P-notes) are issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process.
According to Sebi data, the value of P-note investments in Indian markets — equity, debt, and hybrid securities — stood at Rs 96,292 crore at December-end, as compared to Rs 99,315 crore at the end of November.
The investment level through the route was at Rs 97,784 crore at October-end, Rs 88,813 crore at September-end, Rs .

The company’s strong performance in recent years, healthy order book, and strong deal pipeline indicate an encouraging demand trend, said Motilal Oswal

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