MARKET CAPITALIZATIONS
Aditya Birla Capital’s legal head Amber Gupta joins stock-exchange NSE as head of legal
NSE India has appointed Amber Gupta as senior vice president and head of legal. Gupta, a University of Lucknow alumnus, previously worked with several firms. He is known for being pragmatic, detail-oriented, and a good team player. In April, Yukti Sharma joined Kinara Capital as vice president, while Angel One Ltd appointed Meenal Maheshwari Shah as general counsel in February.
Yen bounces, traders wary of more Japan intervention
The yen jumped against the dollar on Friday, with traders on high alert for signs of fresh intervention by authorities, after a surge in the Japanese currency on Thursday that was likely the result of official buying.
IMF says emerging market capital inflows recover to 2018 levels
The IMF's External Sector Report indicated gross capital inflows into emerging markets, excluding China, hit $110 billion or 0.6% of GDP last year, the highest since 2018, amidst high U.S. interest rates. These markets showed resilience. China faced net outflows and negative FDI. Net portfolio inflows dipped; FDI held steady. (David Lawder; Franklin Paul)
How will TCS stock perform post its Q1 results? Sandip Sabharwal answers
The results do not do much for the stock. It creates a moderate upside in the near term in my view because the TCV order bookings were strong over the last two quarters. This quarter has been a bit lower than expected, but then the past orders could start getting implemented going forward.
Where in the market can we expect post-result selloff? Sandip Sabharwal answers
Sandip Sabharwal predicts selloffs in overvalued defence, infrastructure, and capital goods stocks, contrasting low expectations in consumer and tech sectors. He highlights issues with AMCs' AUM hunger, limited defence stock options, valuation concerns, and India's lagging infrastructure growth. Trent's strong performance and insights on shipyard frenzy, durables, and the Alcobev sector are also discussed, emphasizing cash holding during results season.
India Inc raises record $30 billion in 6 months, riding FPO wave
Indian companies have raised a record $29.5 billion in the equity market through IPOs & FPOs in the first half of 2024, more than double the amount raised last year. Follow-on public offers accounted for 85% of the total proceeds. Analysts anticipate a potential record year for equity issuances.
Sebi invites public comments on proposed amendments to REIT, InvIT rules
Capital markets regulator Sebi on Tuesday said it has sought public views on the proposed amendments to the master circulars for REITs and InvITs. In a consultation paper, Sebi said these amendments will provide clarity on the nomination rights of directors to the boards of REIT (Real Estate Investment Trusts) and InvIT (Infrastructure Investment Trusts) managers.
Equity market investors: A new powerful political constituency
India's financial shift includes 13.6 crore investors, about 10% affluent, driven by SEBI and smartphones. Participation extends beyond Maharashtra and Gujarat to states like Uttar Pradesh and Madhya Pradesh. Individual investor opinions shape economic policies. Retail investors hold an 18.5% listed share, contributing ₹25,000 crore via Securities Transaction Tax, despite risky leveraged positions.
Expect the market to rally more toward Budget date: Andrew Holland
Andrew Holland, CEO of Avendus Capital Public Markets Alternate Strategies, anticipates a pre-Budget rally in IT, banking, FMCG, and power sectors, aided by post-election gains, rural spending, and renewables. Key areas include consumer stocks, affordable housing finance, and power financers like PFC and REC. Power cables and the beverage sector also appear promising with increasing power orders.
Sebi puts SK Finance's Rs 2,200-cr IPO in abeyance
Capital markets regulator Sebi has kept in 'abeyance' the proposed initial share sale of vehicle finance and business loan-focused non-bank lender SK Finance. Without disclosing the reason, Securities and Exchange Board of India (Sebi) said "issuance of observations (has been) kept in abeyance" with regard to the IPO of SK Finance, an updated showed on the regulator's website on Monday.
Rise of Telegram-friendly chain spurs talk of crypto super app
The Open Network (TON) blockchain has seized the crypto spotlight even amid a broader rally in the sector that saw Bitcoin hit new heights before a recent selloff.
US market would like a not-too-strong mandate for either Democrats or Republicans: Arvind Sanger
If there is a continued easing in the US labour market, then what Chairman Powell said at this central bankers meeting in Europe a couple of days ago would hold true, that the Fed is headed towards easing and the consensus seems to be thinking that it might happen by September, says Arvind Sanger.
Sebi chief Madhabi Buch urges investors to identify mischief makers in the market
Recalling her own experience as an industry participant, Buch said it is "frustrating" for the law-abiding participant when he or she discovers an industry peer gaining using bad practices.
When the stock market is a one-way street
Post-pandemic central bank policies have spurred a robust, seemingly perpetual equity rally, challenging traditional cycles. Despite economic growth concerns, instability, and geopolitical risks, markets remain resilient due to low interest rates and high liquidity. Household investments and mutual funds, driven by past returns, fuel this illusion of growth, defying expectations of a market correction.
Carlyle, CVC & Hillhouse in the fray for GeBBS
Global private equity firms including Carlyle Group, Hillhouse Investment and CVC Capital Partners have been shortlisted to acquire ChrysCapital-owned GeBBS Healthcare Solutions, said people familiar with the development. The deal proposes to value the Los Angeles-based healthcare business process outsourcing firm at $800 million. The firms, shortlisted after the initial round, will submit a binding offer by mid-July, said one of the persons, who did not wish to be identified.
Capitalism hasn’t failed — we’ve actually greatly benefited from freer market
Schumpeterians believe that government attempts to help, help and help again are the root cause of all that has gone wrong. They link this to declining GDP growth, angst among workers that 'decent jobs' are disappearing, rising inequalities, a soaring number of billionaires, rising inflation, crazy stock market valuations, Trumpist populism, protectionism and soaring fiscal deficits.
Raselle Capital VCC pays Rs 1.23 cr to settle FPI violation case with Sebi
Foreign portfolio investor Raselle Capital VCC has settled a case related to the alleged violation of FPI rules with capital markets regulator Sebi after paying Rs 1.23 crore as settlement charges.
Want a slice of AI pie? Here's what it will cost stock market investors
Retail investors are now viewing AI as a promising investment frontier, with significant potential for gains by investing in leading companies in this field. Nvidia, a maker of AI chips, has seen its stock surge threefold in the past year, making it one of the most valuable companies in the world with a market capitalisation over $3 trillion.
Bosch weighs offer for appliance maker Whirlpool, say sources
German engineering group Robert Bosch is weighing a bid for U.S. appliances manufacturer Whirlpool, according to three people familiar with the matter, a move that would boost its position in the household appliances market.
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