INSTITUTIONAL INVESTOR ADVISORY SERVICES
Global firms buy PB Fintech stakes from early backers
Foreign portfolio investors (FPIs) have lapped up shares in Gurugram-based listed fintech firm PB Fintech, as its founders and early investors sold their shares, in full or in part, in multiple tranches. These transactions happened through bulk deals when several early-stage investors of the company exited the firm fully or partly after 2021, when it went public.
Institutional investment in Indian real estate at $2.5 billion in Q2, marking a 3-year high
Private equity investments in Indian real estate hit a three-year high in Q2 2024, totaling $2.5 billion. The industrial and warehousing segment led with 61% of the total investments ($1.5 billion), driven by large deals. The residential segment saw a 7.5x increase from Q2 2023, making up 21% of total inflows. Office assets received $0.3 billion, showing a significant annual decline.
HDFC Bank shares jump 3% to fresh high, investors eye Rs 1,900-level on MSCI boost
HDFC Bank's shares surged approximately 3% to reach a new 52-week high on Wednesday. Investors reacted positively to news suggesting a potential increase in the bank's weightage in the MSCI Emerging Markets index. Doubling lenders' weightage in the global index can attract FII flows, ranging from $3.2 bn to $4 bn.
FPIs invest Rs 26,565 crore in Indian equities in Jun
After two months of net outflow, foreign investors turned buyers in June, infusing Rs 26,565 crore in Indian equities, driven by political stability and a sharp rebound in markets.
Vraj Iron and Steel IPO booked 1.5 times so far on Day 1. Check subscription, GMP and other details
Vraj Iron and Steel's IPO sees strong demand with retail investors leading subscription. The fresh equity issue aims to fund the Bilaspur Plant expansion. The company offers a range of products and operates manufacturing plants in Chhattisgarh. Aryaman Financial Services manages the IPO with a price band of Rs 195-207 per share.
Bandhan investors cautious ahead of leadership change
Analysts view the central bank move as administrative in nature to ensure a smooth leadership transition in the Kolkata-based lender, but concerns over Bandhan Bank's asset quality perhaps kept investors anxious.
FPIs turn net buyers of Indian equities at Rs 12,170 crore in June so far after two months of selling
Foreign investors stage a comeback in holiday-shortened week, slashing net selling from 14,794 crore in June first week to Rs 3,064 crore at the end of second week.
Elon Musk wins back his huge Tesla payday in shareholder vote
Tesla shareholders voted to reinstate CEO Elon Musk's $44.9 billion pay package, previously rejected by a Delaware judge. The package remains tied up in court as Tesla appeals the decision.
Big tech is driving the S&P rally. The rest have to step up soon
Tech stocks face diverging performances as Nvidia leads the pack, while Apple struggles, causing a profit cool down and an emerging asymmetry among Big Tech stocks, affecting the overall earnings potential in 2024.
FPIs net sellers of Indian equities at Rs 14,794 crore in June so far
Foreign portfolio investors were as unenthusiastic in June so far, as they were in April and May when they offloaded shares worth Rs 38,158 crore. Domestic institutional investors, however, continued to repose their faith in D-Street and remained on the buying side.
CoinDCX launches CoinDCX Prime for HNIs, targets $100 million AUM by 2025
CoinDCX, a major Indian crypto exchange, launches CoinDCX Prime to cater to High-Net-Worth Individuals and institutions, targeting $100 million in assets by 2025. Prime offers tailored services, prioritizing compliance and personalized support, aiming to attract substantial investment.
Tesla stands by Musk pay after ISS urges shareholders to reject package
Tesla defended Musk's pay package, disputed ISS criticism, and mentioned potentially costlier new compensation for shareholders.
'Aayega To Modi' becomes new ATM strategy for stock investors before election result
Investors are capitalizing on the "Aayega To Modi" (ATM) strategy, as optimism surges with predictions of Prime Minister Modi's return. Bullish sentiment prevails, backed by favorable fundamentals and technicals, signaling potential gains across various sectors, particularly in infrastructure and manufacturing.
Markets optimistic but 'mistakenly euphoric', says Kotak Institutional Equities
Kotak Institutional Equities analyzes the Indian market's optimism and sector valuations, predicting market reactions to BJP and NDA outcomes with a focus on corrections in specific sectors and the stability of major indices.
TA FDI investors lowers stake in Prudent Corporate
Canara Robeco Mutual Fund, DSP Mutual Fund and Kotak Mutual Fund were among some of the buyers in the deal. Shares fell 5.21% to close at ₹1,640 on Tuesday. In the last one month, the company's shares gained 6.11% against an up-move of 0.35% in BSE SmallCap Index in the same period.
Minority shareholders to benefit from ITC Hotels demerger: Proxy advisory firms
"The structure will enable ITC Hotels to operate with an optimal capital structure with the ability to access capital to fund its growth requirements.
Pakistan reports third polio case amid concerns of widespread transmission
The latest victim, a 12-year-old girl from the Kili Malak Haqdad area of Darozai union council in Balochistan's Killa Abdullah district, succumbed to the relentless grip of polio.
Making independence count
Sebi recently fined two independent directors (IDs) ₹10 lakh each for neglecting their statutory duties and failing to protect shareholders' interests, highlighting the increasing scrutiny on IDs. The role of IDs has evolved to encompass crisis management, risk assessment, and sustainability, as per CII guidelines. There's a call for robust evaluation mechanisms for IDs and legal safeguards to protect them from personal liability. Sebi's decision coincides with the tenure rule for IDs introduced by the Companies Act, raising concerns about the independence of IDs, especially those with ties to the promoter group or former employees.
Wall Street Week Ahead: Stock market's record-setting rebound may have further to go
Fresh signs of a cooling economy calmed inflation worries in May, helping all three major U.S. stock indexes rise to records this week. The benchmark S&P 500, which fell over 4% in April, is now up 11% year-to-date.
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