Companies and Markets

Companies & Markets

Hudco IPO priced at Rs 56-60; opens on May 8

The Initial public offering of Housing and Urban Development Corporation (Hudco) opens on May 8 in the price band of Rs 56-Rs 60 per equity share of Rs10 face value.
The government will raise close to Rs 1,200 crore by divesting a 10.19 per cent stake in Hudco. Retail individual investors and employees of the company bidding in the retail category will be offered a discount of Rs 2 on the offer price.
Huco is a wholly owned government company providing loans for housing and urban infrastructure projects in India for more than 46 years now.

Maruti posts record profit for FY17; Q4 net up 16%

Driven by premium models, Maruti Suzuki India (MSI) on Thursday reported 36.6 per cent jump in its annual profit to a record Rs 7,511 crore for the last fiscal, while fourth-quarter net rose by 15.8 per cent.
The company's net profit in 2015-16 was Rs 5,497.2 crore. Its net sales for 2016-17 were at Rs 66,909.4 crore, up 18.5 per cent from the previous fiscal.
Volumes for the financial year ended March 31, 2017 were up 9.8 per cent to 15,68,603 units. Of this, exports were at 124,062 units, MSI said. The company had posted record annual profit and sales in 2015-16 as well.

Sensex slips from record, edges down on F&O expiry

Stock markets came off their peak and turned weak today after three back-to-back sessions of gains as the benchmark Sensex slipped in view of April derivatives expiry.
Besides, weak Asian cues weighed on sentiment. Investors are looking forward to US President Donald Trump's plan for the US tax system.
The 30-share index hit yet another record high (intra- day) of 30,184.22 points, but slumped to quote down 32.44 points, or 0.11 per cent, at 30,100.91 as profit-booking set in.

Indian stocks world-beating as indices hit all-time highs

With benchmark indices BSE Sensex and NSE Nifty 50 hitting new life-time highs, foreign portfolio investors (FPIs) in Indian equity markets have made a killing. The 30-share index and its broader counterpart have given year-to-date(YTD) return of 13.17 per cent and 14.24 per cent respectively. The actual gain is an astonishing 19 per cent if one takes into account 5.66 per cent appreciation in rupee’s exchange value against dollar.

Investors can buy MF units through digi wallets: Sebi

The board of the Securities and Exchange Board of India (Sebi) on Wednesday approved a slew of proposals, including allowing investors to buy mutual fund units through digital wallets. It also disallowed domestic residents and NRIs from investing through the P-Note route, apart from giving QIB status to NBFCs.

Sensex, Nifty scale lifetime highs on fund inflow, Asian cues

The BSE Sensex shot up by over 128 points to 30,071.61 and the NSE Nifty scaled 9,343.15 -- both lifetime highs -- in opening trade today on sustained buying by retail investors amid high foreign fund inflows.
Encouraging earnings and positive Asian cues also contributed to the stellar show of the bourses.
Besides, the rupee appreciating agaisnt the dollar to trade at a near 21-month high of 64.07 fuelled the bull run of the bourses.The 30-share BSE index reclaimed the 30,000-mark to trade at a newrecord high of 30,071.61 by surging 128.37 points, or 0.42 per cent.

Nifty sets new record, Sensex stuck at 30,024

The broader stock market index NSE Nifty 50 on Tuesday set an all-time high of 9,306.60 on buying support triggered by corporate earnings. Curiously enough, its BSE counterpart 30-share Sensex failed to set any new record, though it did register a gain of nearly 290 points. What made the difference is 21 scrips that aren’t common constituents of the 2 indices.

IRB InvIT Fund’s Rs 4,300cr IPO to open on May 3

Mumbai-based toll road developer IRB Infrastructure Developers will come out with India’s first initial public offering (IPO) by an infrastructure investment trust, or InvIT, on May 3.
Announcing this, IRB Infrastructure Developers said on Tuesday it has set a price band of Rs 100 to Rs 102 per unit in the IPO of IRB InvIT Fund.

Ex-chair Anuj Puri buys JLL India’s residential brokerage business

The former chairman and country head of JLL India, Anuj Puri (in pic), has now bought the residential brokerage arm of JLL India – Jones Lang LaSalle Residential (JLLR) for an undisclosed sum. Puri, who left JLL India on February 28 this year, will now lead the team of 200 residential brokers across eight Indian cities.
JLL is India’s largest real estate consulting firm with an extensive geographic footprint across 11 Indian cities and over 9,000 employees. It provides a range of services to investors, developers, domestic and multinational corporates.

Success mantra: Low debt and high sales growth

An increasing number of Indian companies are finding themselves in a debt trap as their entire operating profit now is not sufficient to meet their finance charges. Worst still, a large number of these companies have negative operating profits and a huge interest burden on top of that. In such a scenario, finding a company with zero or minimal debt (mostly working capital) is the biggest challenge, as these companies are considered multi-baggers.