Rishabh Instruments is set to list on the exchanges on Monday, with an expected 13.4% premium over their issue price. The IPO has been heavily subscribed - 31.65 times overall, and 8.43 times by retail investors. It provides energy efficiency solutions with diverse applications, and analysts recommend long-term investment as it may command a scarcity premium.
Open FlipThe Adani Group, led by billionaire Gautam Adani, has increased its stake in two of its listed companies in what's being seen as a comeback strategy after a damaging US report. This includes raising the stake in Adani Enterprises to 71.93% and that in Adani Ports and Special Economic Zone Ltd to 65.23%. US short-seller Hindenburg Research had alleged accounting fraud against the group.
Open FlipIndian equity market logged its best week in the last two months, with the Nifty 50 and the Sensex rising 1.98 percent and 2.64 percent at the close on September 8. The Nifty 50 managed to close beyond the crucial 19,800 mark at 19,819.95, while Sensex closed at 66,598.91. Going ahead, as August inflation numbers trickle in, it is important to monitor if the market momentum can sustain.
Open FlipThis December, the NPCI will celebrate its 15 year anniversary, but for the most part, many of us only became familiar with NPCI because of fintech and UPI. And that’s only in the last 7-8 years. But today it’s much more than UPI. It might as well be the backbone of fintech in India and in many ways, the gatekeeper of fintech innovation.
Open FlipBarclays is planning to cut hundreds of jobs due to their cost trimming and wider strategy review. 400 positions in their domestic retail business could be lost, though that number is not final yet. It's unrelated to the investment bank cuts during annual performance assessments. While Morgan Stanley, Goldman Sachs and Citibank have also reduced staff this year.
Open FlipThe Sensex and Nifty shot up last week due to strong economic outlook and encouraging macroeconomic data. Analysts are looking at 20,000 level this week and mid- and small-cap stocks gained significant traction. Factors this week may be FIIs flow, crude oil prices, macro data, IPO watch, and technical factors.
Open FlipIndia’s direct-to-consumer (D2C) market, which is likely to reach a size of $100 Bn by 2025, has grown exponentially in the last few years. Several factors including the Covid pandemic, higher internet penetration, growth of digital infrastructure and rise in the number of millennials, among others, have shored up the D2C brands.
Open FlipThis week the new-age tech stocks continued their uptrend due to positive business-specific updates and a bull run in the domestic market. Nine out of 16 stocks saw an increase in share prices led by Nazara which rose 15.5%. Paytm, Nykaa, and Zomato also saw a rise while the other 7 stocks saw a decline. The stocks have performed well this year and sentiments remain positive.
Open FlipThe G20 has called for the urgent revival of the Black Sea grain initiative,due to the war which caused food prices to skyrocket in many developing and least developed countries. The Mandate ensures that food commodities will be exported from three Ukrainian Black Sea ports to several countries across three continents.
Open FlipAt the G20 summit, members declared their commitment to re-establish the WTO's dispute-settlement system by 2024. The body was disbanded in 1995 when the US blocked appointments to it, leaving violations of WTO norms unresolved. The Ministerial Conference will be held in Abu Dhabi in February 2024, and members have pledged to work constructively towards achieving positive outcomes at that event.
Open FlipIndia has seen a 700% jump in electric vehicle registrations since 2020, resulting in over 28L registrations and a 6% market share. This growth is mainly attributed to increased awareness, innovation, availability and policy revamps. There have been incidents of EV fires due to low-quality Chinese batteries and stiff competition from petrol/diesel vehicles.
Open FlipReal estate investors can protect a significant part of their earnings by utilizing tax benefits in Sections 54 and 54F of Income Tax Act. These sections of the law provide exemptions that help reduce taxable income, allowing more of the profit to stay with the investor. Utilizing these exemptions is an effective way to maximize profits while maintaining compliance with governmental regulations.
Open FlipG20 leaders have expressed support for the regulatory framework outlined in the IMF-FSB Synthesis Paper on cryptocurrencies, which includes measures to manage money laundering and terrorism financing risks. They endorse the FSB’s recommendations regarding crypto assets activities and markets and global stablecoin arrangements.
Open FlipWith its proactive policies and ample investment in the EV sector, India has emerged as a leading example of sustainable transportation. To create a healthier future, the Government is encouraging green energy production and 10,000+ km transmission lines for charging infrastructure. Alongside, venture debt provides crucial working capital to EV startups, fostering innovation and mutual growth.
Open FlipInvestor interest in PSU stocks has been extremely high, with many stocks turning out to be multi-baggers. Markets clearly indicate that the correction witnessed in August was but a consolidation phase prior to a prolonged bull run. Investors should look at reaping profits on stocks which have already seen strong returns while cases of underperforming stocks should be analysed.
Open Flip