The filing of offer documents with the capital markets regulator – Securities and Exchange Board of India – has more than halved this financial year (2022-23, or FY23) as the outlook for new share sales has worsened, following correction in the secondary market. So far in FY23, 66 companies filed their draft red herring prospectus (DRHP), as opposed to 144 in the preceding financial year (2021-22, or FY22).
Posts tagged Rediff
Fund managers expect the market to tread sideways (23-03-2023)
Mutual funds’ average cash holdings in equity schemes topped 6 per cent in February as fund managers went slow on deployment of new inflows on expectations of better buying opportunities amid uncertainties in the market.
Mutual Funds’ Rs 100 Trn Opportunity (23-03-2023)
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
Good news for those in US on business or tourist visa (23-03-2023)
The US has announced that individuals travelling to the country on a business or tourist visa – B-1 and B-2 – can apply for new jobs and even appear in interviews, but the prospective employees must ensure that they have changed their visa status before starting a new role. B-1 and B-2 visas are generally referred to as “B visas”, and they are the most common types of visa issued for a wide range of uses in the United States. The B-1 visa is issued mainly for short-term business trips, while the B-2 visa is issued mainly travelling for tourism purposes.
‘Markets Won’t Enter Bear Territory’ (23-03-2023)
‘Markets could face uncertainty in the short to medium term.’ ‘It would be prudent to invest in alternative asset classes, especially debt, for about a year.’ ‘Bank fixed deposits are offering rates as high as 9 per cent per annum and these can be used as a great hedging tool until equity markets stabilise.’
Untimely rain in March damages rabi crops (22-03-2023)
Untimely rains during March have caused damage to rabi crops and may result in lower yields, a report said on Wednesday. Between March 1 and 21, cumulative rains have been 20 per cent more than normal, and in the past four days, it was 3-4 times more than usual, according to a report by Crisil Market Intelligence and Analytics. On March 21, the rain volume in central India was 1,600 per cent more than normal, the report said, adding that unfortunately, this ongoing harvest window for rabi crops has been lashed by an untimely torrent.
Governance, funding info key to Adani ratings: S and P (22-03-2023)
Weeks after it revised the rating outlook of two companies of embattled Adani group, S and P Global Ratings on Wednesday said it is watching for additional information on the conglomerate’s governance and funding for any ratings action. Investors, it said, seek clarity on the credit impact of a string of allegations against the group in a short-seller report published in late January, and on the findings of a recently launched Supreme Court investigation. S and P Global published an FAQ-style commentary titled, “Adani Group: The Known Unknowns”.
Factors that will sustain Abbott outperformance (22-03-2023)
Abbott India outperformed the Indian pharmaceutical market (IPM) with a year-on-year (YoY) growth of 23 per cent in February. The domestic market grew at a robust 20 per cent on a low base, primarily led by volume growth and price hikes. Abbott continued to outperform the sector in the anti-diabetic space with a growth of 20 per cent and key brands such as Thyronorm (hypothyroidism), biliary agent Udiliv, insulin Ryzodeg posted robust growth.
Markets end higher for 2nd day amid firm global trend (22-03-2023)
Among the Sensex stocks, Bajaj Finance, Bajaj Finserv, Sun Pharma, IndusInd Bank, Tata Motors, ICICI Bank, Tata Consultancy Services, Hindustan Unilever and Power Grid were the major gainers. NTPC, Axis Bank, Nestle, HCL Technologies and HDFC Bank were the major laggards.
Will India manage to grow at 6.8% in FY24? (22-03-2023)
The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession.