FY21
Billion-dollar specialists! Persistent, KPIT to outperform with up to 30% returns, says Bernstein
Bernstein has an outperform rating for Persistent Systems and KPIT, setting a target price of Rs 5,920 for Persistent, reflecting a 30% upside scope, and Rs 2,120 for KPIT, indicating a 25% upside potential.
Bansal Wire share price falls marginally post robust listing. Should you hold or exit?
Bansal Wire Industries debuted with a 39% premium on its issue price, driven by robust investor demand. Post-listing, shares dipped slightly but traded 36% above the IPO price at Rs 349.5. Analysts highlight strong customer diversification and a diverse product portfolio, mitigating revenue risks across sectors.
Bansal Wire shares list at 39% premium over IPO price
Bansal Wire listed at Rs 356 on NSE with a 39% premium. Pre-listing unlisted premium was Rs 63. IPO funds will repay debt.
Will Budget 2024 pivot to populism? Here’s what Goldman Sachs analysts predict
Amid investor concerns over potential fiscal policy shifts towards welfare spending, Goldman Sachs holds a contrary view, citing limited fiscal room due to high public debt. They emphasize India's infrastructure improvements, suggesting policymakers may prioritize sustained growth over short-term boosts.
How balanced is the surplus Balance of Payments!
RBI's BoP data shows a $5.7 bn surplus for March 2024, driven by service exports and $107 bn remittances. It reverses an $8.7 bn deficit. Fiscal year's deficit is $23.3 bn. Merchandise trade deficit narrowed. Despite the surplus, net FDI flows dropped, and rupee appreciation is unlikely. Global Captive Centers indicate services expansion, but domestic manufacturing growth remains subdued.
Bansal Wire IPO booked 59.5 times on last day. Check GMP and other details
The overall subscription stood at 18.78x so far. The categories reserved for NII and QIB investors were subscribed 34 times and 21 times, respectively. Meanwhile, the retail portion of the issue was subscribed the least at 10.54 times.
Bansal Wire IPO to open for subscription on Wednesday. Here's what GMP indicates
The company aims to raise approximately Rs 745 crore at the upper end of its price band. Investors can bid for a minimum of 58 shares per lot, with the option to bid in multiples of this lot size. Prior to the IPO subscription, the company's shares were trading at a premium of Rs 65 in the unlisted market.
Extent and frequency of tariff revisions crucial for financial health of telcos
Following the increase in tariffs, the stock of Reliance Industries rose by 2.3% on Friday to close at Rs 3,131.9. On the other hand, stocks of Bharti Airtel and VIL were under pressure, falling by 1.8% to Rs 1,445.4 and by 3.4% to Rs 17.9 in that order amid profit booking after a recent surge in their prices.
Why cement biggies like to take inorganic route to grow
This was followed by more prominent deals in recent times. In 2022, Adani Group acquired ACC and Ambuja Cements from Holcim. The acquisition of ACC-Ambuja cement assets was valued at ₹81,400 crore.
Budget Preview: Govt could use part of RBI dividend to reduce fiscal deficit, says Motilal Oswal
A transfer of Rs 2.11 lakh crore by the RBI implies excess receipts of about Rs 1.5 lakh crore in FY25, the MOFSL note said. MOFSL sees the new government largely retaining its tax and non-debt capital receipt (including disinvestment) projections as presented during the interim Budget in February.
Muthoot Microfin to stay on the radar with a few tailwinds
A part of Muthoot Pappachan Group, the company provides micro loans to women with a focus on rural areas. It had 1,508 branches in 353 districts across 18 states of India as of March 2024. Its AUM grew by 32.4% year-on-year to ₹12,193.5 crore in FY24.
Go Digit stock likely to face pressure amid elevated combined ratio
After gaining over 24% within three weeks since listing on bourses on May 23, the stock of Go Digit General Insurance has remained range bound following weak performance in the March quarter, which was declared on June 11.
Stanley Lifestyles high on luxury quotient, raises Rs 161 cr from anchors
Private equity-backed Stanley Lifestyles, the fourth-largest player in India's home furniture market, is set to launch a ₹537 crore IPO. The company's revenues have more than doubled, and net profit has grown significantly in recent years.
A 60% fall! Does falling FDI call for policy recalibration?
RBI reported a 62% drop in net FDI flows into India to USD 10.6 bn in FY24, the lowest since 2007. Select sectors benefit from the "China+1" trend, attracting opportunistic foreign investments. India requires comprehensive policy recalibration, aligning with sectoral strengths, and genuine market access.
Healthy credit-deposit ratio needed
State Bank of India and other public sector lenders are urging the government to allow incentives to boost deposits, addressing a slump in credit flows.
Wait for Ixigo to list before taking a call
Le Travenues Technology, the promoter of Ixigo, is raising ₹740 crore through an IPO, with a fresh issue of ₹120 crore and an OFS of ₹620 crore.
Top IT companies focus on employee productivity amid demand uncertainties
Amid revenue deceleration, shrinking margins and lower headcount, a silver lining for the top tier IT exporters is the rising employee productivity aided by streamlining of human resources through meticulous bench management.
Samsung to finally get its FY21 incentives under PLI scheme
The Indian government has cleared over ₹500 crore claims for South Korean smartphone manufacturer Samsung for the first year of the smartphone production-linked incentive (PLI) scheme, which was granted after over two years of revisions due to discrepancies in the original paperwork. Samsung had initially filed for ₹900 crore, claiming to have achieved a target of ₹15,000 crore worth of incremental sales for FY21.
Government lost Rs 1 lakh crore in taxes in FY'21 due to corporate tax cut, says MoS Finance
The Indian government lost over INR 1 lakh crore in FY 2020-21 due to a cut in corporate taxes announced in September 2019. The base corporate tax for existing companies was reduced to 22%, while for new manufacturing firms it was cut to 15%. Companies opting for these new rates had to give up all exemptions and incentives.
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