As many as 27 small and medium enterprises (SMEs) got listed on capital markets with public issues worth Rs 182 crore in the first six months of the current fiscal. (Graphic: Sanjay Tambe)

As many as 27 small and medium enterprises (SMEs) got listed on capital markets with public issues worth Rs 182 crore in the first six months of the current fiscal.

In comparison, 21 SMEs had launched initial public offers (IPOs) and raised Rs 180 crore during the April-September period of the previous fiscal, 2014-15.

According to the data available with Sebi, 10 SMEs came out with public issues in September, raising a total of Rs 48 crore, while three companies had hit the capital markets in August to mop-up Rs 21 crore.

Further, five firms had launched their public offerings in July to mobilise Rs 69 crore, eight SME had hit the markets with an IPO worth Rs 39 crore in June, one firm had launched its public issue in May, while no issue was launched in April.

These companies are from sectors like trading, steel, manufacturing, textile and finance and are spread across the country, according to a report by Knowledge and News Network, a media platform that focuses on micro and SMEs.

BSE and the National Stock Exchange (NSE) had launched SME platforms in March 2012, becoming the only two bourses to offer such a segment in the country.

These platforms provide opportunity to entrepreneurs to raise equity capital for growth and expansion. It also provides immense opportunity for investors to identify and invest in good SMEs at an early stage.

BSE has about 117 companies listed on its SME platform, with a total market capitalisation of over Rs 7,615 crore. Of this 117, eight companies have migrated to the main board.

Further, the stock exchange is expecting about 100 IPO issues on its SME segment during the current fiscal. The NSE has nine companies trading on its SME platform.

Bata India shares slumped over 3 per cent in the noon trade on Thursday after the footwear major posted weak Q2 results on Wednesday post market hours. (Express Photo)

Bata India shares slumped over 3 per cent in the noon trade on Thursday after the footwear major posted weak Q2 results on Wednesday post market hours. For the second quarter ended September 30 2015, Bata India posted net sales of Rs 575.15 crore, up 5.02 per cent, against Rs 547.64 crore in the same quarter last year.

At 12.11 pm, the share price of Bata India was down 2.92 per cent at Rs 471.75. The scrip opened at Rs 468 and had touched a high and low of Rs 473.80 and Rs 464.50, respectively, in trade so far.

Religare in a research report said, “Bata India reported a poor set of Q2 numbers as net sales edged up 5 per cent year-on-year (YOY) on a muted same store sales growth (SSSg) of 2 per cent YoY (est) amid weak demand conditions.”

The company reported a 38.74 per cent rise in net profit at Rs 54.11 crore for the quarter under review. It posted net profit of Rs 39 crore during the same period of previous fiscal.

“Despite economic slowdown and a lower consumer sentiment, our second quarter performance for the period July-Sept 2015 has seen a growth of 5 per cent compared to the same period last year,” Bata India, group managing director, South Asia, Rajeev Gopalakrishnan said.

The company will be expanding its product offering, focusing on the same-store growth and strengthening e-commerce business to reach out to a larger consumer base, he added.

Post the announcement of Q2 results, Relgare said, “We pare our FY15-FY18 EPS by 6-8 per cent to build in the slower-than-expected recovery in demand. Valuations however at 32.2x/24.0x FY16/FY17 earnings look sustainable. We maintain ‘buy’ on Bata India shares with revised September 2016 target price of Rs 680 (Rs 725 earlier).”

(With inputs from PTI)

The BSE Sensex and NSE Nifty opened on a flat note on Thursday. Sensex opened 4.88 points up at 26,557.80. Nifty opened 9.85 points up at 8,030.35.(Express Photo)

9.53 am: Sensex was down 101 points at 26451. According to the data released by the NSE, the Foreign Institutional Investors (FIIs) were net sellers of Rs 487.39 crore in index futures and options segments, as per Wednesday’s data, November 04, 2015.

FIIs were net sellers of index futures to the tune of Rs 293.97 crore and they sold index options worth Rs 193.42 crore. In the stock segment, FII’s were net sellers of stock futures worth Rs 34.48 crore, while they bought stock options worth Rs 84.33 crore.

9.44 am: The rupee fell by 16 paise to 65.65 against the dollar in early trade due to fresh demand for the American currency from importers.

9.31 am: State-owned IDBI Bank on Wednesday post market hours said it plans to raise Rs 2,800 crore from foreign investors or public offer, a move that will bring down the stake of the government in the lender. The share price of IDBI Bank was down 0.71 per cent down at Rs 84.20. 

9.18 am: Sensex was down 101.56 points down 26,451. Tata Steel, Bharti Airtel and Sun Pharma were trading over 1 per cent down in the early trade.

The BSE Sensex and NSE Nifty opened on a flat note on Thursday. Sensex opened 4.88 points up at 26,557.80. Nifty opened 9.85 points up at 8,030.35.

Asian shares stumbled on Thursday after Federal Reserve Chair Janet Yellen said a December interest rate hike in the United States is a “live possibility”, sending short-term US bond yields to 4-1/2-year highs and pushing the dollar broadly up.

Wall Street shares also slipped on Wednesday, with S&P 500 Index falling 0.4 percent from a three-month high touched on Tuesday, driven by losses in the energy sector after a fall in oil prices.

Back home, Sensex closed 37.67 points down at 26,552.92 on Wednesday while NSE Nifty closed 20.50 points down at 8,040.20.

Companies like KEI, Allcargo Logistics, Jubilant Food, JBF Ind, Alembic Ltd, Aban, Amrutanjan, Cummins Ind, Sona steer, Gujarat gas, Nitin Spin, Tata Steel, Tata Global and Sunil Hitech may announce their earnings on Thursday.

Shares of Bata India and Ashok Leyland will remain in focus on Thursday as they announced their Q2 results on Wednesday post market hours. Footwear major Bata India reported a 38.74 per cent rise in net profit at Rs 54.11 crore for the second quarter ended September 30.

Hinduja group flagship firm Ashok Leyland on Thursday reported over two-fold rise in net profit at Rs 287 crore for the second quarter ended September 30, 2015.

(With inputs from agencies)

The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Thursday tracking SGX Nifty and global markets. (Express Photo)

The BSE Sensex and NSE Nifty are likely to open flat with negative bias on Thursday tracking SGX Nifty and global markets.

At 8.30 am (IST), SGX Nifty was down 6 points, or 0.07 per cent at 8,060.

Asian shares stumbled on Thursday after Federal Reserve Chair Janet Yellen said a December interest rate hike in the United States is a “live possibility”, sending short-term US bond yields to 4-1/2-year highs and pushing the dollar broadly up.

Wall Street shares also slipped on Wednesday, with S&P 500 Index falling 0.4 percent from a three-month high touched on Tuesday, driven by losses in the energy sector after a fall in oil prices.

Back home, key bechmark indices erased their initial gains in the last 30 minutes of trade and closed in red on Wednesday. The BSE Sensex closed 37.67 points down at 26,552.92 while NSE Nifty closed 20.50 points down at 8,040.20.

Companies like KEI, Allcargo Logistics, Jubilant Food, JBF Ind, Alembic Ltd, Aban, Amrutanjan, Cummins Ind, Sona steer, Gujarat gas, Nitin Spin, Tata Steel, Tata Global and Sunil Hitech may announce their earnings on Thursday.

Shares of Bata India and Ashok Leyland will remain in focus on Thursday as they announced their Q2 results on Wednesday post market hours. Footwear major Bata India reported a 38.74 per cent rise in net profit at Rs 54.11 crore for the second quarter ended September 30.

Hinduja group flagship firm Ashok Leyland on Thursday reported over two-fold rise in net profit at Rs 287 crore for the second quarter ended September 30, 2015.

(With inputs from agencies)

Foreign portfolio investors (FPIs) have been continuous sellers of Indian debt for the last six days , leading to a net outflow of $548.07 million. A continuous selloff of this kind was last seen in May when FPIs sold paper worth $1.46 billion over eight days starting May 5.

Ashish Vaidya, executive director and head of ALM and trading at DBS Bank India, said the fear of a rate hike in the US, along with a portfolio churn during the year-end, might be the reason behind the selloff.

“The continuous selloff in the Indian debt market by FPIs for the past six days is probably because of the fear of a possible rate hike in the US and the portfolio churn and risk reduction towards the end of the calendar year by FPIs.

I think this can continue for a few more days after which it will stabilise,” he said.

Investors in the US are anxiously watching out for every word that the Federal Reserve chair Janet Yellen would be saying in her Congressional Testimony later in the day.

Every economic data out of the US and words from Fed officials will be quite significant considering that the two-day Federal Open Market Committee (FOMC) meet commences in mid-December.

“The exact impact of the US rate hike cannot be assessed as of now. Most of it is has already been factored into the system, but what will actually happen on the ground if the Fed hikes the rates is something that will evolve over a period of time,” Vaidya said.

Foreign investors, however, do not seem to have a negative outlook on Indian debt considering that they were willing to pay a premium of 82 bps to acquire limits on government securities that were put up for auction on October 12. At the last auction on Monday, foreign investors put in bids worth twice the notified amount and were ready to pay a premium as high as 62 bps to acquire G-Sec limits.

FPI interest in the corporate bond market, however, has remained subdued since the beginning of the fiscal. Data from the depositories show that foreign investors have utilised just 75.98% of the $51-billion quota in corporate bonds. At the beginning of April, this figure stood at 77.43%. So far, FPIs have poured $8.45 billion into Indian debt while equities have seen just $4.33 billion worth of inflows.

On the whole, the highest net outflows in Indian debt securities came in May when FPIs sold debt worth $1.28 billion where as the highest inflows came in January at $3.72 billion. The highest inflows in a single day was on June 15 when foreign investors poured $1.46 billion into debt securities. The highest outflow in a day happened on June 12 at $510.98 million.