Posts in category Business Standard
Nifty Outlook: Broader mkts participation to boost benchmarks to new highs (06-05-2024)
The benchmark index stayed put on the higher grounds, registering fresh highs, but the intense bout of profit booking on the last day led Nifty to have a subdued weekly closure at 22475, procuring a m
Nifty trading at upper-band levels, nearing breakout: Check key levels here (06-05-2024)
The Nifty 50 Index is currently trading within a short-term range of 22,800 to 21,700. A breakout above or below this range could signal the next directional move for the index
Belstar Microfinance files DRHP with Sebi for Rs 1,300 crore IPO (05-05-2024)
According to the DRHP, the fresh issue of equity shares is worth Rs 1000 crore, and the offer-for-sale (OFS) is Rs 300 crore by existing investors
Indian market has ‘unexplored’ opportunities, says Warren Buffett (05-05-2024)
Billionaire investor Warren Buffett said that the Indian market has unexplored opportunities which his conglomerate holding company, Berkshire Hathaway, would like to explore in the future".
Buffett's remarks came at Berkshire's annual meeting on Friday when Rajeev Agarwal of DoorDarshi Advisors, a US-based hedge fund that invests in Indian equities, asked him about the possibility of Berkshire exploring in India, the world's fifth-largest economy.
It is a very good question. I am sure there are loads of opportunities in countries like India," he said.
The question, however, is whether we have any advantage or insights into those businesses in India or any contacts that will make possible transactions that Berkshire would like to participate in. That is something a more energetic management at Berkshire could pursue, the co-founder, chairman and CEO of Berkshire Hathaway said.
Buffett, 93, said Berkshire has a great reputation around the world. He said, his Japanese experience has
Three firms set to drive primary mkt with Rs 6,400 cr IPO blitz this week (05-05-2024)
The primary market is gearing up for significant activity this week, with three companies -- Blackstone-backed Aadhar Housing Finance, healthcare tech firm Indegene and travel distribution firm TBO Tek -- poised to float IPOs aiming to collectively raise nearly Rs 6,400 crore.
Before that, JNK India garnered Rs 650 crore through its initial share-sale last month.
Since 2004, there hasn't been a single IPO launch during May in the last four general election cycles. Typically, the April to June period during these years has been slow for the primary markets due to election uncertainty, said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors.
However, this trend has changed now with the launch of three mainboard initial public offerings (IPOs) next week.
Samir Bahl, CEO of Anand Rathi Advisors told PTI that the new trend is a positive sign indicating the maturing of the Indian capital markets and confidence in India's long-term growth story irrespective of political ...
Muthoot Finance’s arm Belstar Microfinance files Rs 1,300-cr IPO with Sebi (05-05-2024)
Muthoot Finance's microfinance arm, Belstar Microfinance Ltd, on Sunday filed preliminary papers with capital markets regulator Sebi to raise Rs 1,300 crore through an initial public offering (IPO).
The Chennai-based entity's IPO is a combination of fresh issue of equity shares worth Rs 1,000 crore and an offer-for-sale (OFS) of Rs 300 crore by investor shareholders, according to the draft red herring prospectus (DRHP).
As a part of the OFS, Danish asset management firm MAJ Invest aims to sell shares to the tune of Rs 175 crore, followed by Arum Holdings Ltd (Rs 97 crore) and Augusta Investments Zero Pte Ltd (Rs 28 crore).
Maj Invest had first invested in Belstar Microfinance in 2018 and again in 2022.
At present, Muthoot Finance, which is one the promoters, holds a little over 66 per cent stake in Belstar Microfinance.
Proceeds from the fresh issue worth Rs 760 crore will be used to meet future capital requirements towards onward lending and the remaining amount will be used for
FPIs get cautious amid ongoing Lok Sabha polls; inject Rs 1,156 cr in May (05-05-2024)
Foreign investors have adopted a "wait and watch" stance amidst the ongoing general elections and have infused just Rs 1,156 crore in the first two trading sessions of this month.
This came after FPIs dumped equities worth Rs 8,700 crore in April, on concerns over a tweak in India's tax treaty with Mauritius and a sustained rise in US bond yields. Before that, FPIs made a net investment of Rs 35,098 crore in March and Rs 1,539 crore in February.
In the two days of trading in May, Foreign Portfolio Investors (FPIs) have invested Rs 1,156 crore in equity and sold Rs 1,726 crore in debt, data with the depositories showed.
"With general elections in full swing in India, foreign investors have adopted a wait and watch approach, until the election results are out," Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Research India, said.
Additionally, a mixed batch of US data has barely shaken the perceptions that the economy remains robust, indicating that
Mcap of 6 of top 10 firms declines by Rs 68,417 cr; Airtel biggest laggard (05-05-2024)
The combined market valuation of six of the top-10 most valued firms declined by Rs 68,417.14 crore in a holiday-shortened last week, with Bharti Airtel and Reliance Industries taking the biggest hit.
While Reliance Industries, Bharti Airtel, Life Insurance Corporation of India (LIC), Infosys, ITC and Hindustan Unilever were the laggards, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank and State Bank of India emerged as the gainers.
Last week, the BSE benchmark climbed 147.99 points or 0.20 per cent.
Domestic equity markets were closed on Wednesday on account of Maharashtra Day.
The market capitalisation (mcap) of Bharti Airtel fell by Rs 27,635.65 crore to Rs 7,23,770.70 crore.
The valuation of Reliance Industries declined by Rs 23,341.56 crore to Rs 19,40,738.40 crore.
The mcap of LIC dropped by Rs 5,724.13 crore to Rs 6,19,217.27 crore, and that of Infosys went lower by Rs 5,686.69 crore to Rs 5,87,949.62 crore.
ITC's valuation eroded by Rs 4,619.35 crore to Rs 5,44,64
Kansai Nerolac Paints standalone net profit rises 8.03% in the March 2024 quarter (04-05-2024)
Sales rise 3.53% to Rs 1661.70 crore
Tata Tech Q4 PAT drops to Rs 157 cr (04-05-2024)
Tata Technologies reported 7.63% decline in consolidated net profit to Rs 157.24 crore in Q4 FY24 as compared with Rs 170.22 crore in Q3 FY24.