PE
At $4.2 billion, Q2 2024 IPO size records its highest growth in 2 years
QIPs saw a rise in both value and volume compared to the previous quarter, with 20 issues raising $2.3 billion. This marks the second-highest volume since Q4 2017. The retail and consumer sector led deal activity, with an 18% increase in value over Q1 2024, despite a 7% decrease in volume.
PE funds line up to take a bite of Belgian Waffle
The Mumbai-based firm, owned and operated by Bloombay Enterprises, competes with players like Theobroma and other western dessert players such as Baskin Robbins and Mad Over Donuts in a growing local F&B market.
India Inc registers 501 deals valued at USD 21.4 bn in Q2 2024: Grant Thornton
Grant Thornton Bharat's Q2 2024 report shows 501 deals worth USD 21.4 billion. Despite a 28% value decrease post Reliance-Disney mega-merger, domestic investment and private equity remain strong. High-value deals (over USD 100 million) rose 58% with 30 significant deals. Political stability and policy clarity boosted traditional sectors like pharma and manufacturing, states Shanthi Vijetha.
NCERT to recreate PM's 'Pariksha pe Charcha' for virtual exhibition
PM Modi's 'Pariksha Pe Charcha' might become virtual with NCERT's portal, featuring interactive 2D/3D environments. Amid NEET exam irregularities, NCERT's Expression of Interest aims for one crore annual visitors. The virtual exhibition includes a hall, Modi's speeches, selfie zones. Launched in February 2018, PPC addresses exam stress concerns.
NCERT to recreate PM Modi's 'Pariksha pe Charcha' for virtual exhibition
The NCERT is working on a proposal to create a virtual platform for PM Modi's 'Pariksha pe Charcha' initiative. The platform will feature interactive 2D/3D environments for student engagement, selfie opportunities with the PM, and exhibition of student projects.
Financials & utilities are the cheapest sectors; IT overpriced: Neelkanth Mishra
Neelkanth Mishra highlights undervalued financial and utility sectors compared to the overpriced IT sector. The Budget is expected to focus on rural support and fiscal prudence, with emphasis on Viksit Bharat 2047 initiatives. However, GDP growth may slow down, impacting FMCG sector earnings. Mishra expects consumption by the lower income households will grow slower than the GDP on average,
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CXO-level shifts rearrange top deck at Indian startups
The world of startups witnessed a series of top-level movements in the first half of 2024, including Naveen Tahilyani taking the helm as CEO of Tata Digital and the resignation of Surinder Chawla, managing director and chief executive officer of Paytm Payments Bank.
Tough to sustain GDP growth above 7.5%; time-wise correction in market likely: Neelkanth Mishra
As mutual funds are sitting with Rs 1 lakh crore of cash, whenever there is a 4-5% drop from the peak, there is a spate of buying. So equities as an asset class are not seeing sharp drawdowns and in the short term make it safer to invest in and attract more funds. That is the cycle we are in, says Neelkanth Mishra.
Tata Equity P/E Fund turned Rs 10,000 monthly SIP into Rs 1.82 crore in 20 years
Launched in June 2004, the scheme has consistently outperformed its benchmark, the Nifty 500 - TRI, delivering impressive returns. Over a decade, the scheme provided a 17.04% return compared to the benchmark's 15.27%. In the past five years, it yielded 21.14%, surpassing the benchmark's 19.76%. The scheme achieved a remarkable 25.78% return over three years, whereas the benchmark returned 19.81%.
Fintechs' secure credit play; New Jersey turns IT hub
Happy Monday! Fintech companies like Cred, PhonePe and Paytm are seeking partnerships with NBFCs to enter the secured credit market. This and more in today’s ETtech Morning Dispatch.
Axis Securities initiates coverage on Inox Wind, sees upside potential of 30%
Domestic brokerage firm ICICI Securities initiated coverage on Inox Wind (IWL) with a target price of Rs 185 stating that the company is well-positioned to benefit from the tailwinds in the wind sector.
Hindustan Foods shares zoom 15% after stake sale via block deal
Shares of the FMCG major Hindustan Foods (HFL) surged 15% today on BSE to Rs 582.50 after a likely equity stake sale of 11.1% via a block deal on Wednesday. The deal size is said to be approximately worth Rs 720 crore.
Flipkart, PhonePe on path to profitability: Walmart CFO
Walmart CFO David Rainey said ecommerce company Flipkart and PhonePe are on the path to profitability. Flipkart’s losses in the ecommerce segment have been improving, he said at an investor conference. He also said this “gives us a lot of confidence in what the overall financial profile of this business looks like a few years from now”.
Sebi’s diktat on IPO-bound companies gives a jolt to PE investors
Sebi is intending to advance the timing of terminating special rights, from the date of listing of IPO shares to the date of filing of updated DRHP.
Sebi relief for IPO-bound PE investors
It had earlier in an advisory to merchant bankers said that private equity investors would have to cancel their special rights when the investee company files its updated IPO document with Sebi. Securities lawyers had said the requirement would expose PE investors to risks if IPOs of their investee companies fail to materialise.
Ixigo extends ties with PhonePe to offer flight, bus booking services
The expanded partnership will enable over 54 crore PhonePe users to experience more comprehensive travel booking and utility services for flights, trains and buses, ixigo said.
These 8 smallcap stocks with low PE ratios can rally up to 25%
Low PE stocks, often regarded as value stocks, are typically favoured for long-term investments. According to Trendlyne data, Narayana Hrudayalaya, CreditAccess Grameen, and PNB Housing Finance are currently trading at lower PE ratios compared to their respective industry averages. Despite belonging to different sectors, these stocks have the potential to rally by up to 25%, as suggested by Trendlyne data. Here is a list of 8 smallcap stocks from the Nifty Smallcap100 index with below industry PE levels that can rally up to 25%:
This ratio helps in avoiding mirage of value in bullish time: 5 stocks from different sectors for long-term investors
Given the high probability that bulls will be soon seen all over the street. It would be better to just be a bit more cautious while taking incremental exposure. One thing which investors need to take into consideration is that there is a big difference in what is value and what looks cheap due to one financial ratio, more often than not, relying on PE may lead to wrong investment decisions. When looking for long term investment, it is better to use PEG ratio, though finding the right ratio is itself a challenge. PEG ratio is much better compared to the commonly used P/E ratio. It helps in avoiding stocks which might appear cheap but actually are not value buys. Also in sectors which are cyclical in nature, looking at the price earning matrix may lead to wrong decisions.
Screaming value? 34 stocks with consistent earnings growth still trading below 5-year PE
34 stocks with consistent earnings growth, including Trent, are trading below 5-year PE. Axis Securities recommends buying Trent at Rs 4,800. 5 Nifty index cos, like ICICI Bank and Maruti Suzuki, are also undervalued.
Canara Bank, Bandhan Bank among 10 lenders that saw decrease in NPAs in Q4
A debt that has been past due and unpaid for a predetermined period is known as a non-performing asset (NPA). According to Trendlyne Data, Canara Bank, Punjab & Sind Bank, Bandhan Bank, and Central Bank of India are the top banks that saw a decrease in NPA in Q4FY24. Here's a list:
TPG Asia sells entire stake in RR Kabel in Rs 958 crore block deal
Marquee funds, including Edelweiss MF, Tata MF, Goldman Sachs, Citigroup, Morgan Stanley, ICICI Pru MF, Blackstone Aqua, Reliance Nippon Life, and HDFC Standard Life, among others, bought stakes in the transaction.
TPG Asia to sell entire stake in RR Kabel via Rs 957 crore block deal today
The private equity firm acquired a 21% stake in RR Kabel five years prior to the IPO, which was launched in the latter half of 2023. Since then, it has continuously reduced its stake.
TPG Asia to exit RR Kabel, offload stocks worth Rs 1,000 crore in block deal: Report
TPG Asia had acquired around 21% stake in RR Kabel five years before the IPO, which was launched in late 2023. Since then, the PE firm has gradually cut its stake in the company.
8 midcap stocks that are below industry PE levels can rally up to 21%
Low PE stocks, often regarded as value stocks, are typically favoured for long-term investment strategies. According to Trendlyne data, PI Industries, ACC and Federal Bank are currently trading at lower PE ratios compared to their respective industry averages. Despite belonging to different sectors, these stocks have the potential to rally by up to 21%, as suggested by Trendlyne data. Here is a list of 8 midcap stocks from the BSE Midcap index with below industry PE levels that can rally up to 21%:
Ecommerce in slow lane; PhonePe-BharatPe truce
Happy Monday! Online sales haven’t picked up during the final quarter of FY24, industry officials said. This and more in today’s ETtech Morning Dispatch.
PhonePe, BharatPe settle legal dispute over 'Pe'
The legal battle began in 2018 when PhonePe issued a legal notice to BharatPe, asking the latter to stop using 'Pe' in Devanagari script in their brand name.
8 largecap stocks that are below industry PE levels can surge up to 13%
Low PE stocks, often regarded as value stocks, are typically favoured for long-term investment strategies. According to Trendlyne data, SBI, LIC, Infosys, HCL Tech, and L&T are currently trading at lower PE ratios compared to their respective industry averages. Despite belonging to different sectors, these stocks have the potential to rally by up to 13%, as suggested by Trendlyne data.
More PE firms gearing up for India debut
The US PE firm Platinum Equity is exploring investments in a range of sectors.
Warburg Pincus exits Apollo Tyres by offloading Rs 1,072 crore worth stake
The leading global PE firm offloaded about 3.5% stake or 2.24 crore shares. Goldman Sachs, Morgan Stabley, Mirae Asset MF, Societe Generale, Citigroup, ICICI Pru MF bought stakes. Mutual funds have a significant 16.77% stake and foreign investors hold about 17.61% stake as of March 2024.
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