Page 34 - Stock Markets

5 reasons why Goldman Sachs is bullish on CreditAccess Grameen

Despite a slight decline earlier in the year, the stock has soared by an impressive 58.19 per cent over the past year

Sensex closes above 75,000 mark for first time, RIL and ITC gains

But hotter-than-expected US inflation may put brakes on the rally

Experts suggest to keep low-cost Nifty 50 index fund at core of portfolio

If risk appetite permits, consider active midcap and smallcap funds, and factor funds in satellite portfolio

Markets scale new peaks in FY25 kickoff; Sensex ends 363 points higher

Optimism soars as slowing US inflation sparks Fed rate cut hopes this financial year

Kross, Saraswati Saree Depot gets Sebi's approval to raise funds via IPO

Auto parts manufacturer Kross Ltd and Saraswati Saree Depot Ltd have received Sebi's go ahead to raise funds through initial public offerings. The two companies filed their preliminary initial public offering (IPO) papers with the capital markets regulator between October and December 2023 and obtained their regulatory observation during March 22-27, an update with the Securities and Exchange Board of India (Sebi) showed on Monday. As per the draft papers, Kross' maiden public issue is a mix of a fresh issue of shares worth up to Rs 250 crore and an Offer for Sale (OFS) of shares aggregating up to Rs 250 crore by promoters. The OFS portion consists of equity shares to the tune of up to Rs 168 crore by Sudhir Rai and Rs 82 crore by Anita Rai. The Jamshedpur-based company proposes to utilise the net proceeds of the fresh issue for the purchase of machinery and equipment, payment of debt, and funding the working capital requirements of the company. Saraswati Saree Depot's IPO comprise

RBI's rate decision, macro data to dictate market trends this week: Analyst

The Reserve Bank of India's interest rate decision, macroeconomic data and global trends will drive investors' sentiment this week, with markets hoping to continue the positive momentum after ending FY24 on a buoyant note, analysts said. In addition, the trading activity of foreign investors, the rupee-dollar trend and the movement of global oil benchmark Brent crude would also influence trading in equity markets. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in the 2023-24. The benchmark hit its all-time high of 74,245.17 on March 7. In 2023-24, the Nifty soared 4,967.15 points or 28.61 per cent. "The RBI's Monetary Policy Committee (MPC) is set to start its three-day meeting deliberating interest rates and analysing the state of the economy on April 3 and will end on April 5. Auto stocks will be in focus as companies will announce the monthly sales numbers for March starting from April 1, 2024. "Additionally, people will be watching how the rupee fares again

Muthoot Microfin raises $75 million via external commercial borrowing

Muthoot Microfin on Thursday said it has raised USD 75 million by way of external commercial borrowing for on-lending and financing of social loans. Standard Chartered Bank, Doha Bank, RakBank (National Bank of Ras Al Khaimah), Union Bank of India (UK) Ltd, and Canara Bank, GIFT City participated in the funding, the microfinance firm said in a regulatory filing. "Muthoot Microfin has announced a syndicated social term loan of USD 75 million in the form of an ECB (External Commercial Borrowing)," it said, adding that the funds raised will be utilised for on-lending and financing of eligible social loans. The loan has been tied up for a 3-year and 3-month tenor and benchmarked to a 3-month Term SOFR (Secured Overnight Financing Rate) with a margin of 2.85 per cent, which will be serviced at a quarterly frequency. Muthoot Microfin CEO Sadaf Sayeed said, "This strategic move not only opens avenues for international partnerships but also introduces the MFI sector to diverse internationa

Smallcap stock zooms 10% as SBI MF buys 3% stake; HDFC MF holds 7% equity

Among non-promoter public shareholders, HDFC Mutual fund (via HDFC Balanced Advantage Fund) held 7.4 per cent stake in Savita Oil, according to data on BSE

BSE announces 25 stocks eligible for T+0 settlement cycle from Thursday

Among stocks eligible for the T+0 settlement cycle are Ambuja Cements, Ashok Leyland, Bank of Baroda, Cipla,

Sensex snaps 3-day winning run, ends 362 pts down; Airtel, HDFC Bank drag

Market wrap on March 26, 2024: The NSE Nifty 50 shed 92 points, but managed to end above 22,000-mark. The BSE MidCap index, outperformed and finished with a gain of 0.7 per cent.

Hong Kong regains fourth-largest market spot after rout in Indian equities

India cedes position as broader market rout shaves off $180 bn in mcap; China & Hong Kong markets have rebounded over 12 per cent

Street Signs: Shriram Finance and NTPC in spotlight, IPO blues, and more

According to IIFL Alternatives, Shriram Finance is expected to see inflows of nearly Rs 1,300 cr (over 3 days of volumes), while UPL could see outflows of over Rs 700 cr (nearly 5 days of volumes)

Sensex swings 728 pts intraday, ends 90 pts up ahead of US Fed outcome

Stock market highlights on March 20: In the broader markets, the BSE MidCap and SmallCap indices ended mixed. The former added 0.05 per cent, but the latter shed 0.14 per cent

Sebi moots audio-visual representation of disclosures made in offer docs

Markets watchdog Sebi on Tuesday proposed introducing audio-visual representation of disclosures made by companies in their offer documents for public issues, a move that will help investors have an easier understanding about the key features of an offer. Comments from stakeholders have been sought on the proposal till April 9. "It is proposed that the disclosures made in the DRHP (Draft Red Herring Prospectus) and RHP (Red Herring Prospectus) of public issues shall also be made available in Audio Visual (AV) format by the issuer companies desiring to list on the main board. "Further, the AV on the public issues will be in bilingual version i.e. English and Hindi and made available in the public domain," Sebi said in a circular. According to the regulator, it is expected that the AV will provide ease in understanding the salient features and also provide reference to various disclosures of the proposed public issue. The regulator has suggested that the duration of each bilingual .

Markets end flat after choppy session; Metals, auto stocks shine, IT slide

Stock market highlights on March 18: Choppiness continued in the broader markets, too, with the BSE MidCap and Smallcap indices settling flat after see-sawing between gains and losses

Markets to remain volatile amid US Fed rate decision speculations: Analysts

Stock markets would take cues from the biggest event of the week -- the US Fed interest rate decision, besides tracking the trends in global markets and trading activity of foreign investors, analysts said. Last week, a heavy decline in smallcap, midcap firms, foreign fund outflows and elevated crude oil prices in the international market dented investors' sentiments. Experts said equity markets may remain volatile in the near-term amid a host of global central bank's monetary policy decisions lined up during the week. "This week will place a significant focus on monetary policy, as the Fed will begin its two-day policy meeting on March 19. The US Federal Reserve will announce its interest rate decision after its two-day policy meeting on March 20, 2024," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. Additionally, China will announce the loan prime rate for 1-year and 5-year loans, and the Bank of Japan (BoJ) will announce its interest rate decision on March

Biocon slips 5% on plan to sell branded formulation biz to Eris

Shares of Biocon slipped 5 per cent to Rs 254.15 on the BSE in Friday's intra-day trade as the company's unit Biocon Biologics will sell its Indian branded formulations businesses to Eris Lifesciences

Mutual funds sell 25% in Paytm holding, continue to lap up HDFC Bank

Reliance Industries along with HDFC Bank remain the top mutual funds buys for 2nd straight month

Smallcaps slip into 'correction' zone; index down 10% from February

The drop in the smallcap index comes even as the benchmark Nifty logged a fresh record high in an earlier session

NSE to cut cash, derivatives transaction charges by 1% from April 1

Bourse also approves sale of its non-core tech business