Companies and Markets

Companies & Markets

HNIs’ appetite for IPOs grows as most give handsome returns

Initial public offers are once again drawing the interest of high networth individuals (HNIs). At a time when the secondary market is very expensive and big returns are unlikely in short-term, HNIs are betting big on initial public offers (IPO). Moreover, real estate and gold are not looking attractive enough either.

Markets pause record run on profit-booking, muted earnings

Markets took a breather after four back to back record-setting sessions as the benchmark Sensex today hit an all-time high of 32,110 but ended with a paltry loss.
But on a weekly basis, both key indices Sensex and Nifty rose significantly by 660.12 points, or 2.10 per cent, and 220.55 points, or 2.28 per cent, respectively, largely driven by the successful rollout of the Goods and Services Tax (GST) and inflation staying subdued, offering the RBI headroom for a lower policy rate at its policy next month.

Nifty hits 9,900 mark, Sensex at new high post Infy results

The benchmark Nifty today raced past the 9,900 milestone for the first time and the Sensex climbed yet another peak 32,110 as Infosys maintained its 2017-18 revenue growth guidance.
IT, healthcare, consumer durables, oil and gas stocks were among the big gainers. Asian cues remained mixed though.
The 50-issue Nifty crossed the 9,900 level for the first time by gaining 21.60 points, or 0.21 per cent, to trade at an all-time high of 9,913.30, within striking distance of 10,000. It surpassed its previous intra-day high of 9,897.25 touched yesterday.

NCLT notice to Bhushan Steel as insolvency process begins

The National Company Law Tribunal (NCLT) on Thursday issued notices to Bhushan Steel and Bhushan Steel and Power over insolvency proceedings initiated by their lenders State Bank of India and Punjab National Bank. The principal bench of the NCLT headed by its president justice MM Kumar has directed Bhushan Steel and Bhushan Steel and Power to file their reply. The tribunal has posted the matter for the next hearing on July 19.

DIIs are stars in this bull market

The benchmark BSE Sensex breached the psychological mark of 32,000-level for the first time on Thursday, much to the joy of investors. Contrary to the popular belief that foreign investors have propelled the index to dazzling heights, it is the domestic institutional investors (DIIs), who have played the anchor role in Sensex zooming past this all-time high level.

TCS net profit falls 5.9% in Q1, misses estimates

Hit by currency fluctuations and continued sluggishness in BFSI and retail businesses, India’s largest software services exporter Tata Consultancy Services on Thursday reported a 5.9 per cent drop in net profit to Rs 5,945 crore in the first quarter of FY18.
The company’s revenue rose a paltry 1 per cent to Rs 29,584 crore during the period, much below the street expectations.
The currency-wage double whammy shaved off the IT giant’s operating margins by 2.30 percentage points to 23.4 per cent, missing the 26-28 per cent target.

Market poised for RECORD INFLOWS

The Indian stock market could see record inflows from domestic and foreign institutional players this year.
Experts say both FPI and domestic mutual funds are flushed with funds. Domestic asset management companies (AMCs) have seen an inflow of over Rs 28,000 crore into their equity funds in April-June 2017, a surge of nearly three times the flow of the year-ago period, underscoring the growing investor confidence in the market.

High leverage a cause of concern for markets

Even as the market is touching new highs, the leverage ratios of Indian companies is not as enthusing. Our survey based on annual interim financials of 2,300 companies show that for the second year in a row, there has been progress, albeit modest, in deleveraging corporate balance sheets.

Sensex breaches 32k-mark, Nifty at a fresh high too

Breaking boundaries, the benchmark Sensex breached the 32,000 mark for the first time and the NSE Nifty hit a new peak of 9,879 today on strong buzz that a policy rate cut may be on the anvil after inflation touched a "record low".
A positive lead from Asia after US Federal Reserve chief indicated a gradual approach to raising US interest rates made investors here go in for fresh bets.
The 30-share index zoomed 215.60 points, or 0.67 per cent, to hit a new peak of 32,020.42, surpassing previous intra-day record of 31,885.11 reached on July 11.

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