BUSINESS
MC CEO Pay Report: How much were India Inc top bosses paid in FY24?
Among the Nifty 50 companies, there are three top bosses - Thierry Delaporte of Wipro, who resigned in April, Pawan Munjal of Hero MotoCorp, and Rajeev Jain of Bajaj Finance - who took home in excess of Rs 100 crore each in FY24
BUSINESS
Twelve IPOs will compete to raise over $1 billion next week
Among the main board IPOs, the four firms that will compete for investor attention are Bajaj Housing Finance, which will raise around Rs 6560 crore, Tolins Tyres (Rs 230 crore), Kross Ltd (Rs 500 crore) and P N Gadgil Jewellers (Rs 1100 crore).
INDIA
India’s demat count now exceeds population of countries like Russia, Mexico and Japan
A total of 42.3 lakh new demat accounts were opened in August, pushing the total to 17.11 crore. Data from depositories showed that the addition was marginally lower on MoM basis, but was significantly higher compared to last year.
BUSINESS
IPO fund raising soars to 27-month high in August
As many as 10 firms collectively raised Rs 17,000 crore through IPOs in August, marking the largest primary market fundraising since May 2022.
INDIA
Analysts advise caution as Nifty extends record rally to 13th session
The 50-share benchmark rose on each of the trading sessions starting August 13 till September 3 with the cumulative gains pegged at around five percent. The benchmark has surpassed its previous longest rally of 11 days in October 2007
BUSINESS
Tolins Tyres sets price band of Rs 215-226 a share for its Rs 430 cr issue
Finalisation of allotment will be on September 12, refunds and credit of equity shares will be on September 13, and the stock will list on September 16.
BUSINESS
Bajaj Housing Finance sets price band of Rs 66-70 a share for its IPO
The anchor bidding will start on September 6 and the issue will close on September 11. Basis of allotment will be on September 12, refunds will be made on September 13 and the stock will list on exchanges on September 16.
INDIA
September swing: What can help Sensex defy the odds?
September has been a volatile month that has delivered more negative returns than positive one in the last 10 years. This time, however, the FOMC and upcoming festive season is being positioned as key events that may drive inflows.
INDIA
Retail investors outpace FIIs with Rs 10,000 crore buying spree in August
In comparison, the net buying of foreign investors was pegged at around Rs 9,200 crore in August while banks bought shares worth Rs 1,083 crore and insurance companies invested Rs 3,973 crore in Indian equities.
INDIA
India sees steepest fall in m-cap since Feb 2023 even as other markets gain
In August so far, India’s market capitalisation in dollar terms stood at $5 trillion, down 3.43 percent, its steepest fall since February 2023. It was pegged at $5.18 trillion a month ago, according to Bloomberg data.
BUSINESS
FIIs bought $1.6 billion in Indian markets over the last week
Between August 16-27, FIIs poured more than $1.6 billion into Indian equities, as per NSDL data. During this period, FIIs were sellers in only two sessions -- on 19 August and August 21. During this period, benchmark indices Sensex and Nifty rose over 1.4% each, while BSE MidCap and SmallCap gained 1.8% and 2.4%, respectively.
BUSINESS
For SME IPOs, 2024 has been a record fundraising year
As many as 173 SME IPOs raised Rs 5,965 crore so far this year, higher than the Rs 4,686 crore raised by 183 SMEs in the entire 2023.
INDIA
Grey market premiums point towards strong listing for upcoming IPOs
Orient Technologies, which is set to list on August 28, has a grey market premium (GMP) of Rs 82 against its price band of Rs 195-206 per share. Premier Energies, which plans to list on September 3, shows a GMP of Rs 330 against its price band of Rs 427-450 per share.
INDIA
FPIs sell NSE shares on IPO uncertainty, derivatives volume concerns
July saw the second-highest volume of NSE shares trade in the current calendar year and in terms of value, a turnover of Rs 4,377.66 crore was recorded.
BUSINESS
Some strong 2024 IPOs see erosion in gains; others rebound after tepid debut
Around 54 companies have gone public, raising around Rs 51,000 crore, since the start of the year
BUSINESS
Mutual funds invest over Rs 2,000 crore in Adani group stocks in July
More importantly, the quantum of mutual fund buying has been consistently rising over the past few months. In June, the group saw Rs 990 crore net buying from mutual funds, which was higher than May when the buying was pegged at Rs 880 crore.
BUSINESS
Despite challenges, midcaps & smallcaps improve debt servicing ability in June quarter
An analysis of 92 companies from BSE Midcap index and another 856 from BSE Smallcap index revealed that ICR - an indicator of a company's ability to pay interest on debt from earnings - reached a multi-year high in June quarter.
INDIA
Volatility aside, retail investors buy shares worth over Rs 10,500 crore in August till date
Date from NSE shows that retail investors were net buyers in each of the trading sessions in August so far, except just one day -- 7th -- when they were net sellers at a little over Rs 100 crore. In sharp contrast, FPIs have been net buyers only on only two occasions in the current month -- 1st and 8th -- and ended as net sellers in all other sessions, as per NSDL data.
BUSINESS
Quant MF buys ITC shares worth Rs 3,669 crore in July, trims HDFC Bank stake
Quant Mutual Fund purchased shares worth Rs 3,669 crore in ITC in July. Simultaneously, the fund sold 2.95 crore shares in HDFC Bank, worth Rs 4,763 crore.
BUSINESS
Mutual funds absorb FII selling in finance stocks in July
For mutual funds, the top buys in the space were HDFC Bank wherein they bought shares worth Rs 2,648 crore, followed by Axis Bank (Rs 2,143 crore), State Bank of India (Rs 1,468 crore), and Punjab National Bank (Rs 780 crore).
INDIA
QIPs gain traction to hit four-year high in July
Data from Prime Database shows that 10 companies tapped the market in July with QIPs to raise a cumulative amount of Rs 21,800 crore, which is the highest since September 2020, when six issues raised a total of Rs 39,032 crore.
INDIA
Amidst volatility, new demat accounts continue a strong surge
The quantum of new demat account openings surged to a six-month high in July as data from the two depositories – CDSL and NSDL – shows that over 44.41 lakh demat accounts were opened in July, which was the highest since January 2024 when 46.8 lakh demat accounts were opened.
BUSINESS
End of rally or buying opportunity in mid/small-cap space? Here's what analysts are saying
The BSE Midcap index lost 3.6 percent on Monday while the BSE SmallCap barometer fell 4.21 percent even as the Sensex lost 2.74 percent. For both the broader indices, it was the biggest single-day decline since June 4.
INDIA
LIC net buys Rs 17,000 crore of shares in Q1; check out 11 new additions to portfolio
In the June quarter, mutual funds invested approximately Rs 1.1 lakh crore, while insurance companies and banks made net purchases of Rs 5,035 crore and Rs 628 crore, respectively. Retail investors were net buyers at around Rs 39,278 crore. In sharp contrast, foreign investors offloaded shares worth about Rs 8,495 crore during the same period.
