Page 85 - Stock Market

Goldman raises global equities to 'overweight' on economic growth prospects

"We expect growth to become a more important driver of risk appetite and equity/bond correlations should be more negative this year," Goldman said in a note dated Feb 16

Global trends to guide mkts this week amid lack of local triggers: Analysts

Indian stock markets are expected to be driven mostly by global factors this week amid a lack of local triggers and earnings season largely coming to an end, say analysts. Crude oil prices, rupee movement and US Federal Reserve meeting minutes to be released this week will also influence the market sentiment. "With the earnings season behind us, global cues would largely dictate the trend in the coming week," Ajit Mishra, SVP - Technical Research, Religare Broking Ltd, said. Markets traded volatile in the continuation to the prevailing consolidation phase but managed to edge higher. The beginning was subdued, however, gradual recovery in the following sessions not only pared losses but also helped the index to close around the week's high, Mishra said. Due to robust macroeconomic data, domestic markets concluded the previous week on a positive note, with the frontline indices gaining more than a per cent. Sensex settled at 72,426.64 and Nifty at 22,040.70. The markets also got sup

Q3 review: Listed AMCs on strong wicket but most positives factored in

The companies are likely to remain on the growth path in the coming quarters too, say brokerages

Sensex ends 376 pts up, Nifty above 22K; Auto stocks rally, SpiceJet up 11%

Stock market highlights on February 16, 2024: Sensex, Nifty gain for fourth day; Paytm snapped its three-day decline to close at the 5 per cent upper circuit

BSE cautions stock market investors against fake social media accounts

Leading stock exchange BSE on Thursday cautioned investors against falling prey to misleading social media handles claiming association with the bourse. This came after the exchange noted that some unauthorized and fake social media handles on platforms such as LinkedIn, Twitter, YouTube, Facebook, and Instagram, are misleading the investors by impersonating BSE's official identity and falsely claiming association with the exchange. Such unscrupulous persons or entities masquerading as BSE are indulging into misusing the name and reputation of the exchange for their personal gains, the bourse said. In a statement, BSE cautioned "investors and the public at large against falling prey to such misleading social media handles/ entities and advises the investors/ public to verify the authenticity of social media handles claiming to be associated / to represent BSE." Also, it asked investors to only engage with BSE's officially verified social media handles.

Juniper Hotels' Rs 1,800 crore IPO to open on for bidding on February 21

Juniper Hotels Ltd, which runs hotels under the "Hyatt" brand, on Thursday fixed a price band of Rs 342-360 per share for its Rs 1,800-crore initial public offering (IPO). The maiden public issue will open for subscription on February 21 and close on February 23, the company said in a statement. The IPO is entirely a fresh issue of equity shares worth Rs 1,800 crore with no Offer For Sale (OFS) component. Of the total proceeds, funds to the tune of Rs 1,500 crore will be utilised for payment of debt availed by the company and subsidiaries -- Chartered Hotels Private Limited and Chartered Hampi Hotels Private Limited. Besides, a portion will be used for general corporate purposes. Juniper Hotels is promoted by Saraf Hotels Ltd and its affiliate-- Juniper Investments Ltd-- and Two Seas Holdings Ltd, an indirect subsidiary of a global hospitality company Hyatt Hotels Corporation. The hospitality firm has a portfolio of seven hotels and serviced apartments and operates 1,836 keys ac

Analysts hopeful for Hindalco despite Novelis' capex revised upwards

Analysts maintained consensus 'buy' rating on Hindalco though the stock lost over 12 per cent post Q3 on Tuesday, mainly due to the sharp increase in Novelis' capex, and ended flat on Wednesday

Smallcap selloff weighs on sentiment causing dull debut for new listings

Jana, Capital Small Finance Bank slip below IPO price

Mutual Funds' Rs 13k cr balm as FPIs bleed out HDFC Bank in January

MFs bought 88.2 million shares in January after selling 53.3 million shares during the November-December period

Investors subscribe Vibhor Steel Tubes IPO 101 times on day 2 of bidding

The initial public offer of steel pipes manufacturer Vibhor Steel Tubes Ltd was subscribed by a whopping 101.30 times on the second day of bidding on Wednesday. The IPO received bids for 36,39,20,733 shares against 35,92,445 shares on offer, garnering a 101.30 times subscription, as per NSE data. The portion for non-institutional investors subscribed 252.07 times, while the quota for retail individual investors (RIIs) received 90.11 times subscription. The category for qualified institutional buyers (QIBs) subscribed 8.52 times. On Monday, Vibhor Steel Tubes collected nearly Rs 22 crore from anchor investors. The price band has been fixed at Rs 141-151 per share. The IPO will close on Thursday, February 15. The Haryana-based Vibhor Steel Tubes's initial public offering (IPO) comprises a fresh issue of equity shares with a face value of Rs 10 each, aggregating to an issue size of up to Rs 72.17 crore through the book-building route. Proceeds from the issue will be utilised for wor

Travel portal Ixigo's parent firm files draft papers with Sebi to float IPO

Le Travenues Technology Ltd, which operates travel booking platform ixigo, on Wednesday filed preliminary papers with Sebi to raise funds through an initial public offering. The Gurugram-based company's Initial Public Offering (IPO) will be a combination of fresh issue of equity shares worth Rs 120 crore and an Offer For Sale (OFS) of 6.66 crore equity shares by existing shareholders, according to the Draft Red Herring Prospectus (DRHP). SAIF Partners India IV Ltd, Peak XV Partners Investments V (formerly known as SCI Investments V), Micromax Informatics Ltd, Placid Holdings, Catalyst Trusteeship Ltd, Madison India Capital HC, Aloke Bajpai and Rajnish Kumar will be selling shares through the OFS. Proceeds worth Rs 45 crore from the fresh issue will be used to fund the company's working capital requirements and Rs 26 crore will be utilised for investments in technology as well as data science, including on cloud and server hosting, technology on artificial intelligence and customer

Vedanta's parent may sell $1 billion worth shares to GQG Partners: Report

Saddled with $6.4 bn in outstanding debt, including $4.5 bn payment due by fiscal 2025, Vedanta Resources has been attempting to shore up finances, including through recent debt restructuring

Sony plans IPO for financial arm in Oct 2025 after PS5 sales falter

The company revealed plans for the partial sale after reporting earnings and revising its forecasts for the fiscal year through March

Esconet Tech IPO to open on February 16, price band at Rs 80-84 per share

IT system integrator firm Esconet Technologies on Wednesday fixed the price band at Rs 80-84 apiece for its Rs 28.22 crore initial public offering which will open for subscription on February 16. Esconet proposes to utilise Rs 16 crore of the IPO proceeds towards funding its long-term working capital requirements, besides investing Rs 2.5 crore in its wholly-owned subsidiary, ZeaCloud Services Private Limited to acquire additional hardware and software. The issue will comprise a fresh issue of 33,60,000 equity shares with a face value of Rs 10 through the book-building route. The company has reserved 9.53 lakh equity shares for the anchor portion, 1.76 lakh equity shares for market makers, 4.78 lakh equity shares allocated for high net-worth individuals, 6.36 lakh equity shares for qualified institutional buyers, and Retail portion accounts for 11.15 lakh equity shares. The anchor portion will be opened on February 15, and the issue will conclude on February 20. The company intends

Ipca Labs Q3 results: Profit up 67% at Rs 180 cr, revenue at Rs 2,053 cr

Ipca Laboratories on Wednesday reported 67 per cent increase in consolidated net profit at Rs 180 crore for the third quarter ended December 31, 2023. The drugmaker had reported a net profit of Rs 108 crore for October-December FY23. Revenue from operations rose to Rs 2,053 crore from Rs 1,546 crore in the year-ago period, Ipca Laboratories said in a regulatory filing. Shares of the company were trading 0.86 per cent down at Rs 1,150.15 apiece on the BSE.

Crude oil prices hold firm on Opec demand forecast, US fuel stocks

Brent crude futures rose 6 cents, or 0.07%, to $82.83 a barrel by 0953 GMT. US West Texas Intermediate (WTI) crude futures were flat at $77.87

Wall street analysts racing to boost targets of Nvidia after $560 bn rally

The chip giant's shares have surged 46% this year and added about $560 billion in market value as of Monday, when they closed at a record around $722

Red-hot smallcaps, PSUs run into rough weather; Sensex falls 523 points

Profit-taking on valuation concerns triggers collapse

The listing dilemma

When deciding between listing in India and the US, founders should prioritise long-term considerations over listing price

Inflation, industrial production data to drive market trends: Analysts

Stock markets would take cues from the upcoming macroeconomic data announcements and global trends besides keeping a watch on the trading activity of foreign investors, analysts said. The last batch of the ongoing earnings calendar would trigger stock-specific action, traders said. "This week, we have to deal with macroeconomic data on both the domestic and global front. Our IIP and retail inflation numbers will be released on February 12, while WPI will be released on February 14. The US CPI numbers will be released on February 13, while their retail sales numbers will be announced on February 15. "Amid these numbers, the movement in US bond yields and the dollar index will be watched. Apart from this, movement of crude oil and flows from institutional investors will be other important factors. The last batch of Q3 earnings can lead to stock-specific movements," said Santosh Meena, Head of Research, Swastika Investmart Ltd. NHPC, SAIL, BHEL, Hindustan Copper, Mahindra & Mahindra,