Posts in category Economic Times
MSCI Rejig: India may see $2.5 billion FII inflows (16-05-2024)
Global passive funds, such as exchange-traded funds, structure their portfolios based on these indices. Any change in composition prompts these funds to adjust their allocations. The newly included stocks are JSW Energy, Canara Bank, Indus Towers, PB Fintech, Sundaram Finance, and NHPC. Berger Paints has been dropped, while Indraprastha Gas and Paytm's parent, One 97 Communications, have been downgraded to the small-cap index.
Pre-market action: Here’s the trade setup for today’s session (16-05-2024)
"We expect the market to consolidate in a broader range as the election polling progresses and the result season nears the end," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial
Stocks in news: M&M, Vodafone Idea, Biocon, Mankind Pharma, Dixon Tech (16-05-2024)
HDFC Life announced its highest-ever bonus of Rs 3,722 crore on participating plans. This bonus will benefit over 22.23 lakh policyholders.
CEO of Brazil’s Petrobras steps down after dividend dispute (16-05-2024)
Petrobras opted not to pay extraordinary dividends to its shareholders earlier this year, souring relations between Petrobras CEO Jean Paul Prates and Brazil's President Luiz Inacio Lula da Silva.
Aadhar Housing Finance makes a flat debut (16-05-2024)
"Although the company made a debut with a flat opening, its wide geographical distribution network and strong fundamentals offer good opportunity for the long-term as its target customers are low-income groups from rural and semi-urban areas," said Raj Gaikar, analyst, Samco Securities. "The housing finance credit share of rural and semi-urban locations is rising continuously, giving housing finance companies (HFC) an opportunity to expand their operations."
LIC gets more time for 10% public holding (16-05-2024)
Earlier, LIC had got a one-time exemption to meet a 25% minimum public shareholding within 10 years by May 2032 of its listing in May 2022. The government divested the stake through an offer for sale (OFS) and raised ₹21,000 crore by selling a 3.5% stake then.
BlackRock’s India bond ETF ‘One-Stop-Shop’ for foreigners (16-05-2024)
Pointing out that global bond markets are still largely over-the-counter institutions, Koay said that for foreign investors looking to invest in Indian bonds, there are four layers at present - setting up a specific account to access bonds located here, determining the exchange rate considerations, procuring the bonds and posting margin considerations while looking at tax considerations.
Go Digit retail portion subscribed 1.4 times (16-05-2024)
The portion for non-institutional investors was subscribed 0.3 times. Overall, on day 1, the insurtech company's issue was subscribed 0.36 times. Fairfax-backed Go Digit General Insurance, which runs Digit Insurance, had already raised ₹1,176.5 crore from anchor investors a day ahead of its IPO.
UBS bullish on PI Industries and Navin Fluorine (16-05-2024)
“We think investors may be ignoring Indian chemicals companies’ strong niche positions and growth opportunities within the context of the worst global destocking cycle in chemicals over the past 30 years, but we see signs of modest volume recovery,” said the brokerage’s analysts in a note to clients.