BUSINESS
Rupee trades at record low of 76.96 a dollar on soaring crude prices
According to a Kotak Institutional Equities report, an average crude price of $120a barrel will cost the Indian economy an incremental $70 billion, translating to 1.9 percent of the GDP, in FY2023 versus FY2022
IPO
Fino PayTech shares fall 53% in unlisted market over four months after listing of payments bank unit
In the mid-November 2021, the stock hit an all time high and was trading in the range of Rs 400 to 425 in unlisted space when subsidiary Fino Payments Bank made a debut on the bourses.
MARKETS
Vodafone Idea to raise Rs 4,500 crore by issuing shares to promoters
The board also approved the issue of shares or securities convertible into equity shares, global depository receipts, American depository receipts, foreign currency convertible bonds, non-convertible and convertible debentures, warrants etc worth Rs 10,000 crore in one or more tranches.
MARKETS
Negative Breakout: 420 stocks out of BSE 500 settle below their 200-DMAs
The 200-DMA is considered a major support level for an index or stock since it is a long-term average.
ECONOMY
Global bond yields drop as Russia-Ukraine conflict puts US Fed in a tight spot
The yield on 10-year U.S. notes dropped as much as 13 basis points (bps) to 1.86%. Yields on 10-year Australian securities fell as much as 12 bps to 2.15%. The rate on similar-maturity New Zealand debt fell three bps to 2.76%. Singapore 10 year bond yield fell 6 bps to 1.88%. One basis point is one-hundredth of a percentage point.
BUSINESS
Fear index hits 20-month high as Russia launches military action against Ukraine
India VIX Index hit a high of 33.97 -- a level last seen on 17 June 2020. At 10.15am, it was trading at 31.94, up 30.14% from its previous close. The VIX, which tracks investors’ perceptions of volatility for at least a month ahead, is up 107% year-to-date.
BUSINESS
Bikaji Foods International files draft papers with SEBI to raise funds via IPO
The IPO consists of a pure offer for sale of upto 29.37 million shares by its existing promoters and shareholders.
POLITICS
Crude, resurgence of bond supply may push India’s 10-year bond yield up
Bond yields may rise again as global crude oil prices pose a risk to the inflation outlook
BUSINESS
API Holdings falls 44% over 3 months in unlisted market; firm valued at $6.35 billion
The stock is trading at around Rs 76-78 and is valued at Rs 47,565 crore ($6.35 billion), which analysts feel is still expensive. In October, the firm was reportedly valued at $5.4 billion
BUSINESS
Federal Bank arm FedFina IPO to float Rs 900-crore fresh shares, says draft papers with SEBI
Federal Bank says it will continue to own more than 51 percent of the outstanding share capital post the completion of this offering
BUSINESS
Zomato slides below issue price for first time since listing
The stock hit a low of Rs 75.75 on BSE, down 8% from its issue price. It has been down for four consecutive sessions falling around 20% in this period.
BUSINESS
Vijay Shekhar Sharma’s Paytm stake value falls below $1 billion
Sharma’s stake in Paytm owner One97 Communications was 8.9% as of December quarter. Additionally, Axis Trustee Services held a 4.8% stake on Sharma’s behalf.
BUSINESS
Manufacturing firms' profit margins continue to shrink on higher cost
The third quarter was marked by high commodity prices, elevated inflation, delayed kharif (monsoon) crop harvesting due to unseasonal rains and global central banks signalling monetary policy tightening.
BUSINESS
LIC IPO | LIC sits on over Rs 21,000 crore unclaimed funds
In FY21, the unclaimed amount was at Rs 18495.32 crore versus Rs 16052.65 crore in FY20. In FY19 , this amount was at Rs 13843.70 crore.
INDIA
LIC IPO | Company invests around 37% of total AUM in central govt securities, 24.77% in equities
LIC IPO | total AUM as of September 2021 was at Rs 39.56 trillion against Rs 36.76 trillion as of fiscal year 2021. In FY20, total AUM was at Rs 30.74 trillion.
BUSINESS
LIC IPO | Public issue to make LIC the 8th largest life insurer in asset value among global peers
LIC IPO | As of December 2020, Ping An Insurance holds around $1.38 trillion in total assets while Allianz SE and AXA SA have $1.27 trillion and $965.51 billion, respectively.
BUSINESS
LIC IPO | Draft papers filed. Here are the highlights of DRHP
The IPO consists of an offer for sale of upto 316.25 million shares by the government of India.
BUSINESS
Indian MF industry's AUM may reach Rs 90 trillion by 2030, says Jefferies' Chris Wood
HDFC Asset Management is an interesting investment play, the Greed & Fear report said, adding that it does not, for now, have any of the Indian listed fund houses in the Indian long-only portfolio.
INDIA
Rupee weakens most in four months against US dollar
The currency's sharp drop came after the biggest annual increase in US inflation in 40 years and the RBI’s dovish stance
IPO
Fed tightening may delay listing of unicorns in India: Chris Wood
The arrival of a growing number of listed digital plays is clearly coming, which will add another dimension to the stock market, said Wood.
BUSINESS
MC Interview | Barclays India's Rahul Bajoria: RBI is prioritising growth
Inflation is expected to moderate in FY23, although rising international commodity prices – especially crude oil – remain a source of key upside risk, Barclays India's Rahul Bajoria said.
BUSINESS
MC Interview: Banks' appetite for bonds keeps markets concerned, says India Ratings' Soumyajit Niyogi
In case tightening of monetary conditions in advanced economies gains more traction, adopting calibrated reactions by developing economies will be difficult
BUSINESS
Why is the mood swinging so much on markets? Here's a look at the factors driving volatility
In the morning trade both Sensex and Nifty fell around 1% before rebounding. Now the indices have declined around 0.4%.
BUSINESS
Business resumption recovers from Omicron woes, finds Nomura study
The Nomura India Business Resumption Index recovered nearly 11.5pp to 113.20 for the week ended February 6 versus 104.80 in the previous week, the Japanese financial holding company said
