Posts in category Business Standard
Boult planning to get listed by next year, says co-founder Varun Gupta (28-04-2024)
Indian consumer tech brand Boult plans to go public next year, with a revenue benchmark of Rs 1,000 crore in FY25, as it expands into international markets and new categories, according to its co-founder Varun Gupta.
In an exclusive interview with PTI, Gupta spoke in detail about his vision to make the Indian company global, listing out the homegrown brand, and his ambitious targets for this fiscal year.
"We are not focusing on IPO this year, our primary focus is to foray into offline markets, international geographies, and new categories, but possibly in the next year," he said.
The young entrepreneur said the company has set an internal touchstone for itself before it goes public.
"... We have an internal benchmark, when we hit a Rs 1,000 crore revenue, that's when we want to go for an IPO. Technically, we're eligible to go for an IPO today because we're profitable and comfortably over Rs 500 crore. But we have an internal milestone of Rs 1,000 crore, and that is when we will ...
Capital cover drive: India’s $100 billion knock evens score with China (28-04-2024)
Its capitalisation leapfrog surpasses South Korea and Taiwan, establishing dominance in EM pitch
Monetary policy expectations impact stocks more than rate moves: RBI paper (28-04-2024)
Equity markets are impacted more by the expectations of future monetary policy than the policy rate surprises on the day of announcement of the policy by the Reserve Bank, said an analysis.
According to a working paper prepared by RBI officials, the regulatory and development measures which are announced along with the monetary policy too impact the stock markets.
"...equity markets are affected more by the changes in the market's expectations of future monetary policy (path factor) than the policy rate surprise (target factor) which is in agreement with the conventional thinking that equity markets are forward-looking," the paper said.
The volatility in equity markets on the day of policy announcement, it said, "is affected by both target and path factors, as markets digest the policy announcements and traders adjust their portfolios throughout the day".
RBI Working Paper on 'Equity Markets and Monetary Policy Surprises' is prepared by Mayank Gupta, Amit Pawar, Satyam Kumar, ...
FIU notifies fresh terror financing reporting alerts for capital markets (28-04-2024)
A fresh set of 'alert indicators' have been issued by India's financial intelligence unit (FIU) for capital markets, insurance companies, online payment gateway intermediaries and crypto currency service providers for effective checking of suspicious transactions in their channels as part of the anti-money laundering and counter-terrorism financing regime.
These new guidelines have been issued under the provisions of the Prevention of Money Laundering Act (PMLA) during the 2022-23 financial year and published in a recently released report that has been accessed by PTI.
This is part of the anti-money laundering (AML) and combating the financing of terrorism (CFT) regime followed by the country as part of which financial institutions and intermediaries are mandated to share suspicious transaction reports (STRs) with the FIU which subsequently analyses them and shares them for action with various investigative and intelligence agencies.
FIU proactively engages with the financial sector
Corporate earnings, Fed interest rate decision to drive markets: Analysts (28-04-2024)
Quarterly earnings from corporates, the US Fed interest rate decision and other global trends will be the major driving factors for determining movement in the domestic equity market in a holiday-shortened week ahead, analysts said.
Besides, factors like trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also influence trading.
Domestic equity markets would remain closed on Wednesday on account of Maharashtra Day.
"Domestically, the next batch of Q4 earnings reports will drive stock-specific movements," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
Monthly auto sales figures will be announced at the beginning of May, and the next phase of voting will be significant, he said.
"On the global front, the outcome of the US Federal Open Market Committee (FOMC) meeting on May 1st will be important. Economic data releases from China and the US, along with movement in the global currency market, will also be the factors to
CII-IGBC expects surge in private capex, FDI after Lok Sabha polls (28-04-2024)
It says top priority for new govt should be to strike balance between economic growth and environmental sustainability
FPIs dump Indian equities worth Rs 6,300 cr in Apr as US bond yields rise (28-04-2024)
Foreign investors pulled out domestic equities worth Rs 6,300 crore in April on concerns over tweaks in India's tax treaty with Mauritius and sustained rise in US bond yields.
This came following a whopping net investment of Rs 35,098 crore in March and Rs 1,539 crore in February, data with the depositories showed.
Foreign Portfolio Investors (FPIs) made a net outflow of Rs 6,304 crore in Indian equities this month (till April 26), the data showed.
"The trigger for this renewed FPI selling, in both equity and debt, is sustained rise in US bond yields. The 10-year bond yield now stands at around 4.7 per cent, which is hugely attractive for foreign investors," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
While the tweak in India's tax treaty with Mauritius on investments made in India via the island nation continues to bother foreign investors, weak cues from the global markets with uncertain macro and interest rate outlook didn't augur well for ...
Mcap of 6 most valued firms rise Rs 1.30 trn; SBI, ICICI Bank top gainers (28-04-2024)
The combined market valuation of six of the top-10 most valued firms increased Rs 1,30,734.57 crore last week, with State Bank of India and ICICI Bank emerging as the biggest gainers in line with an overall positive trend in equities.
Last week, the BSE benchmark advanced 641.83 points or 0.87 per cent.
The valuation of the State Bank of India rallied Rs 45,158.54 crore to Rs 7,15,218.40 crore.
ICICI Bank's market valuation rose Rs 28,726.33 crore to Rs 7,77,750.22 crore.
Bharti Airtel added Rs 20,747.99 crore to Rs 7,51,406.35 crore, and that of ITC jumped Rs 18,914.35 crore to Rs 5,49,265.32 crore.
The market capitalisation (mcap) of Life Insurance Corporation of India (LIC) advanced by Rs 9,487.5 crore to Rs 6,24,941.40 crore, and that of Infosys went up by Rs 7,699.86 crore to Rs 5,93,636.31 crore.
However, the mcap of Reliance Industries declined by Rs 26,115.56 crore to Rs 19,64,079.96 crore.
The valuation of HDFC Bank dipped by Rs 16,371.34 crore to Rs 11,46,943.59 crore.
ICICI Bank consolidated net profit rises 18.46% in the March 2024 quarter (27-04-2024)
Total Operating Income rise 23.72% to Rs 42606.72 crore
IDFC First Bank consolidated net profit declines 10.32% in the March 2024 quarter (27-04-2024)
Total Operating Income rise 27.96% to Rs 8220.48 crore