Companies and Markets

Companies & Markets

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.

For investors, debt free is low risk investment

With corporate India reeling under a huge debt burden, investors are now looking for debt-free or low debt companies with high cash on their books for investments.
According to analysts, many investors now preferring to invest in companies with zero or low debt as profitability of these firms are generally more than high debt companies as high interest rates affect companies’ operating costs and profit margins.

Sensex climbs 168 pts on RIL earnings; positive global cues

The benchmark BSE Sensex climbed almost 168 points in early session today as sentiments rose with Reliance Industries' better-than-expected fourth quarter earnings numbers which were announced yesterday.

This apart, a firming trend in other Asian markets, taking strong cues from the US and European markets following Emmanuel Macron's first round presidential election win in France, boosted trading sentiments here.

Reliance beats D Street estimates with higher refining margins

Reliance Industries (RIL) on Monday beat the street estimates by posting a 12.3 per cent rise in its fourth quarter net profit at Rs 8,046 crore on the back of a higher-than-expected gross refining margin (GRM) of $11.5 per barrel.
The consolidated revenue rose 45.2 per cent to Rs 92,889 crore from Rs 63,954 crore a year earlier.
For the full year, the company recorded its highest ever annual profit at Rs 29,901 crore, 18.8 per cent higher than the previous year.