EQUITY INVESTORS
Rekha Jhunjhunwala-backed Baazar Style Retail raises Rs 250 crore from anchor investors
Value fashion retailer Baazar Style Retail Ltd has raised Rs 250 crore from anchor investors ahead of its IPO opening for public subscription. The Rs 835-crore IPO, with a price band of Rs 370-389 per share, opens on August 30 and closes on September 3. Funds will be used for debt repayment and corporate purposes.
Banks versus markets: The scramble for India's retail investor
India's largest lender, SBI, hopes a stock market correction will drive depositors back to banks. As retail investors seek higher returns in equities, deposit growth lags credit growth, forcing banks to raise rates. The Reserve Bank of India is concerned about the widening credit-deposit gap, which poses systemic risks.
Aeron Composite raises Rs 15.17 crore from anchor investors
Aeron Composite Ltd, an Ahmedabad-based fibreglass reinforced polymer products supplier, has raised Rs 15.17 crore from anchor investors as part of its IPO. They have allocated 12,14,000 equity shares at Rs 125 per share. The IPO, targeting Rs 56.10 crore, will close on August 30. Funds will support a new manufacturing unit in Mehsana, Gujarat.
NIIT shares surge 19% to fresh 52-week high; stock up 54% since Damani's picked stake
NIIT Share Price: Shares of NIIT have surged 54% on the BSE since ace investor Ramesh Damani acquired a 0.59% stake in the company through an open market transaction on Friday. The stock gained 18.51% in Tuesday's session, hitting a 52-week high of Rs 182.90. Damani's stake, valued at Rs 10.02 crore, involved purchasing 8 lakh shares at Rs 127.55 each through a bulk deal on the NSE.
Ashish Kacholia invests in AI-based wealthtech platform
InvestorAi, an AI-based equity investment platform, secured Rs 80 crores in a Series A funding round from Ashish Kacholia and his associates. The investment aims to scale the business and introduce new products. The platform provides stock recommendations through several brokers and has maintained a solid track record of strong investment returns.
Looking to diversify your portfolio? Be a global citizen & a global investor
The Union Budget 2024 has reformed the tax structure for International Fund of Funds (FoFs) to a 12.5% long-term capital gains tax if sold post 24 months. With assets under International FoFs surging significantly, investors may consider global equities for diversification and reducing market-specific risks.
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Should investors book some profits, or just stay invested? Vinay Paharia explains
Vinay Paharia, CIO of PGIM India MF, highlighted a growing bubble in low-quality and low-growth market segments, urging investors to steer clear. He advocated for portfolios featuring high-growth, high-quality companies. PGIM’s multi-cap fund targets these companies in various market segments, with a keen eye on sectors like healthcare, consumer discretionary, and financials.
RBI buying back SGBs: Should you tender?
The Reserve Bank of India has decided to offer early redemptions for 30 Sovereign Gold Bond series maturing from October 2024 to March 2025. Investors can choose to withdraw early starting September 2024. Financial experts advise against early redemption to maximize benefits, as past bond holders earned an average return of 10.94%.
Retirement planning: How and where to invest if you want to retire at 50
The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. The advice given is based on the performance of the funds, the risk profile of the investor as well as his financial goals.
What are exchange-traded funds (ETFs)
ETFs are available for various asset classes like equity, debt and commodities.
PSUs' M-cap grows by 4% in 2 years, now comprises 15% of India's total market capitalisation
Public Sector Undertakings (PSUs) in India have seen their market capitalisation rise by 4% over 24 months, and now represent 15% of the market. Despite unchanged earnings metrics, their valuation multiples have expanded significantly. ROE is improving, and substantial capex suggests future growth.
InvestorAi secures Rs 80 crore in equity funding from Ashish Kacholia
InvestorAi has secured Rs 80 crore in funding from investor Ashish Kacholia. The capital will be used to grow its business operations and enhance product offerings.
Big movers on D-Street: What should investors do with ICICI Securities, Reliance Power and Nykaa?
The equity indices rose on Wednesday, buoyed by FMCG, consumer durables, and healthcare sectors with strong domestic institutional support. ICICI Securities dropped 7.52%, while Reliance Power climbed 5% and Nykaa soared 9.65%. Analysts suggest focusing on key support and resistance levels for these stocks to harness potential gains.
FPIs turn to the primary market amid soaring valuations in the secondary market
FPIs have turned to the primary market, investing $6.4 billion in Indian equities via IPOs and QIBs up to August 19, 2024, amid high secondary market valuations. They have been net buyers in the primary market for 11 consecutive months but net sellers in the secondary market during seven of the past twelve months.
Sapphire Foods announces record date for 1:5 stock split. Shares surge 4%
Sapphire Foods saw a 4.4% rise in share prices after announcing a 1:5 stock split with September 5, 2024, as the record date. Each Rs 10 share will be divided into five Rs 2 shares to increase market liquidity and attract more retail investors. This is the company's first stock split.
Zerodha's Nithin Kamath on why ULIPs may not be a smart investment choice for investors
Zerodha's Nithin Kamath argued that ULIPs are the worst when looking for investment and insurance at the same time, and cited the high commissions and limited insurance coverage. He recommended investing in direct mutual funds and purchasing term insurance separately.
FPIs pull out Rs 21,201 crore from equities in August so far
In August, foreign investors sold Indian shares worth ₹21,201 crore, reversing inflows seen in July and June. The sell-off was influenced by global factors like the unwinding of the Yen carry trade, recession fears, and geopolitical tensions. Additionally, profit-booking after recent market gains contributed to the outflow.
Chinese stock investors lose a key indicator to gauge sentiment
Starting Monday, China's stock exchanges ceased providing daily data on overseas fund flows to curb market volatility and focus on long-term indicators. The CSI 300 Index faced significant declines this year due to disappointing earnings and insufficient policy support. This decision highlights continued foreign fund withdrawals and a bleak outlook for economic recovery.
FPIs turn net sellers; pull out Rs 21,201 crore from equities in Aug so far
In August, foreign investors withdrew Rs 21,201 crore from Indian equity markets, influenced by the unwinding of the yen carry trade, US recession worries, and geopolitical tensions.
Foreigners turn short Indian shares for first time in two months
Foreign investors have shifted their stance on Indian shares, driven by volatility, lackluster earnings, and a surprise tax hike on equities. They became net sellers, offloading nearly $2 billion worth of stocks in August, after a period of buying in June and July. The NSE Nifty 50 Index still trades at high valuations despite recent dips.
Flexiloans to raise $35 million in a fresh equity
US-based nonprofit Accion and Infosys cofounder Nandan Nilekani’s Fundamentum could participate in this round, sources told us. Mumbai-based lending firm Flexiloans, backed by Sanjay Nayar, focuses on lending to small businesses through digital channels.
India set to close in on China as emerging-market stock anchor
A higher weighting for India will position it to become the new anchor for emerging market equities, likely driving increased flows into the country. Fund managers say that India’s rising heft may make the EM gauge more appealing to global investors who have been wary due to China’s sway over the index.
FIIs sold Indian stocks worth $1.3 billion this week. Will the sell-off deepen?
However, buying of around $2.2 billion worth of equities by domestic institutional investors last week limited the downside on Dalal Street. Sensex ended 1.6% lower on a weekly basis as global markets recouped losses after ' Black Monday' sell-off.
India will remain top choice for private equity investments despite external shocks: Jefferies
The report noted that despite the challenges faced by the private equity industry, including a liquidity squeeze and declining distributions from major firms, India remains a favorable environment for capital raising and investment opportunities.
D-Street indices rise over 1% on global rebound after BOJ’s dovish talk
India's stock indices rebounded by over 1% after three losing days as the Bank of Japan vowed to maintain stable interest rates. The Nifty rose 304.95 points, closing at 24,297, and the Sensex climbed 874.94 points to 79,468. Domestic institutional investors were net buyers, while foreign investors sold shares worth ₹3,315 crore.
Global market rout has more to do with end of cheap funding than US economy
The recent turbulence in global equity markets is mainly due to the unwinding of carry trades and not a dramatic shift in the U.S. economic outlook. Weak U.S. jobs data sparked the sell-off, compounded by yen appreciation. Analysts indicate hedge funds' adjustments intensified market moves, but economic recovery expectations may be overstated.
Global market rout has more to do with end of cheap funding than US economy
While Friday's weaker-than-expected U.S. jobs data was the catalyst for the market sell-off, with Japan's blue-chip Nikkei index on Monday suffering its biggest one-day rout since the 1987 Black Monday selloff, the employment report alone wasn't weak enough to be the main driver of such violent moves, they added.
FPIs begin August as net sellers, offload Indian equities worth Rs 1,027 crore in two sessions
FPIs purchased a significant amount of domestic shares in July 2024, amounting to Rs 32,365 crore. This buying trend continued from June, where they also invested heavily. However, there was a period of net selling in April and May, where they offloaded shares. The year began with a negative trend in January, but February and March saw them return as net buyers, making significant investments in the market.
Adani Energy’s $1-billion QIP subscribed over 6 times
Duquesne Family Office, Driehaus Capital Management, and Jennison Associates have invested in Adani Energy Solutions' $1-billion qualified institutional placement. This marked their first venture into Indian equities. The oversubscribed QIP, attracting over ₹50,000 crore, will fund capital expenditure, smart meters, debt repayment, and other corporate needs.
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