Page 419 - Markets

FPIs shift focus back on Indian market; invests Rs 7,600 cr in a week

Foreign investors seem to have shifted their focus back on the Indian equity markets as they turned net buyers last week with an investment of over Rs 7,600 crore. This came following a net outflow of Rs 3,920 crore by foreign portfolio investors (FPIs) from equities in the preceding week (February 7-12), data with the depositories showed. "As the markets began to recover from the Adani shock, the flows from FPIs also improved, suggesting their renewed interest in the prospects of the Indian equity markets," Himanshu Srivastava, Associate Director - Manager Research at Morningstar India, said. It appears that the sustained selling in India witnessed from early January is over but they might sell again at higher levels, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. As per the data, FPIs have purchased equities worth a net sum of Rs 7,666 crore in the week ended February 17. Given a more stable economy, strong macros and prospects of higher economic

'Fake Ebitda' masks risk in debt-laden companies, says report

The S&P analysts this week said the latest data reinforces their view that those Ebitda figures are "not a realistic indication of future Ebitda

Adani credit facilities expose collateral web full of red flags

Since short-seller Hindenburg Research published its critical report on Jan 24, investors have responded to its allegations of fraud and market manipulation by selling Adani shares

Mcap of five of top-10 most valued firms jump Rs 95,337 cr last week

Five of the top 10 valued firms together added Rs 95,337.95 crore in their market valuation last week, with index major Reliance Industries Ltd contributing the most. Last week, the BSE benchmark climbed 319.87 points or 0.52 per cent. While Reliance Industries, ICICI Bank, HDFC, ITC and Bharti Airtel were the gainers from the top-10 pack, Tata Consultancy Services (TCS), HDFC Bank, Infosys, Hindustan Unilever and State Bank of India were the laggards. The market valuation of Reliance Industries rallied Rs 70,023.18 crore to Rs 16,50,677.12 crore. ITC's market capitalisation (mcap) jumped Rs 14,834.74 crore to Rs 4,75,767.12 crore. The valuation of ICICI Bank climbed Rs 6,034.51 crore to Rs 6,01,920.14 crore and that of Bharti Airtel advanced Rs 3,288.43 crore to Rs 4,32,763.25 crore. HDFC's mcap gained Rs 1,157.09 crore to Rs 4,92,237.09 crore. However, State Bank of India's valuation eroded by Rs 19,678.77 crore to Rs 4,73,807.64 crore. The mcap of Hindustan Unilever tanked R

Crypto wrap: 'Surprise rally' in crypto market on US inflation data

The US inflation, according to data released on Wednesday, continued to fall for the seventh straight month in January to 6.4%

Bajaj Steel extends rally on sale of plastic division; stock spurts 13%

In the past six months, the stock price of Bajaj Steel has zoomed 107 per cent, as against 1 per cent rise in the S&P BSE Sensex

Ipca Labs slips 5%, hits 52-week low on weak December quarter results

In Q3, Ipca's operating profit margin was lowest since FY19, impacted by lower gross margins, and continued higher overheads.

New tax norm to hurt insurers; stocks attractive for the long run: Analysts

Analysts expect stocks to remain under pressure in the near-term as the government's new tax regime push, with no tax saving deductions, could hurt demand for insurance products

Markets eke out gains amid volatile trade; Sensex rises 44 points

Markets ended marginally higher in a trading session marked by extreme volatility

FPI surpass retail in getting investment calls right in Dec 2022 quarter

Hike stakes in 639 companies to gain an average 6.4%, prune holdings in 700 underperformers; retail investors, on the other hand, get many of their calls wrong

FCI sells 385,000 tonnes wheat in open market via e-auction, control prices

Food Corporation of India (FCI) sold 3.85 lakh tonnes of wheat to bulk consumers in the second round of e-auction, as part of its efforts to boost domestic supplies and control prices of wheat and atta (wheat flour). Last month, the government announced plans to sell 30 lakh tonnes of wheat in the open market from its buffer stock under the Open Market Sale Scheme (OMSS). Out of the 30 lakh tonnes, the Food Corporation of India will sell 25 lakh (2.5 million) tonnes to bulk consumers like flour millers through e-auction and 2 lakh tonnes will be given to states/union territories. As much as 3 lakh tonnes of wheat are being provided to institutions and state PSUs at a concession for converting wheat into wheat flour. "More than 1,060 bidders participated and 3.85 LT (lakh tonnes) wheat was sold during the second e-auction organised by the Food Corporation of India (FCI) on February 15," an official statement said. FCI, the government's nodal agency for procurement and distribution o

Gokaldas Exports hits 4-month high, rallies 15% in one week post Q3 results

Once FTA with the UK happens, India can potentially see USD1bn of exports from this region

IT shares in focus; TCS hits 9-mth high; Tech Mahindra surges 11% in 2 days

Thus far in calendar year 2023, the Nifty IT index has outperformed the market by surging 10 per cent, as compared to 0.55 per cent decline in the Nifty 50

InterGlobe Aviation slips 5% after 4% equity changes hands via block deal

Rakesh Gangwal was set to pare his stake in IndiGo by a further 4 per cent via block deals on Thursday. The block deal was said to be for 1.56 crore shares worth Rs 2,930 crore

Aero India Show: Defence stocks a good long-term bet, say analysts

In the near-term, analysts believe a drop in the defence budget for financial year 2023-24, coupled with premium valuations of related stocks, could weigh on the sentiment

Rupa & Co, Dollar Ind, Kitex Garments hit 52-wk lows on weak Q3 results

However, Kitex Garments said the company's order book in queue for 2023-24 indicates achieving a better performance in Q1 and normal performance by Q2

Cement demand climbs up, not unusual profitability for Indian cos: Moody's

The infrastructure led investments in India will drive up the demand for cement and other building materials, said Moody's Investors Service in a report.

Siemens gains 3%, hits record high on strong operational performance in Q1

Overall, Siemens is expected to further strengthen its leadership position through further penetration of automation and digitization products & services across segments, ICICI Securities said

Bharat Forge dips 7% on weak performance of overseas subsidiaries in Q3

The company's overseas operations posted an EBITDA loss of Rs 62 crore in December quarter due to ramp up related issues of the new Al forgings capacities in Germany and the US

Sensex surges 600 points to scale 61,000-mark; ITC and RIL sparkle

The BSE benchmark Sensex surged 600 points on Tuesday, propelled by market heavyweight RIL, ITC, banking and IT shares amid positive global cues. Sliding crude oil prices in the international markets and buying by foreign investors also bolstered sentiment, traders said. The 30-share BSE Sensex ended 600.42 points or 0.99 per cent higher at 61,032.26. During the session, the index witnessed a high of 61,102.74 and a low of 60,550.25. The broader NSE Nifty surged 158.95 points or 0.89 per cent to finish at 17,929.85. ITC topped the Sensex gainers' chart with a jump of 3.31 per cent, followed by Reliance Industries, Bajaj Finance, ICICI Bank, Infosys, Axis Bank and Wipro. On the other hand, NTPC, UltraTech Cement, L&T, Sun Pharma, Asian Paints and Maruti were among the major laggards, shedding as much as 1.10 per cent. "Domestic indices edged higher, inspired by their global counterparts, as investors await the US inflation numbers today. The whammy over India's retail inflation ..