BUSINESS
India market-cap at striking distance from Hong Kong. How long before India overtakes?
With the steady rise in Indian stocks taking BSE’s market-cap to $5 trillion, it is now within striking distance of Hong Kong, which commands a market-cap of $5.39 trillion currently
BUSINESS
IPOs soar to 8-month high in May with Rs 9,600 crore raised
Five companies have collectively raised Rs 9,606.15 crore through IPOs in May so far. This is the largest fundraising since September 2023
INDIA
Market cap of BSE-listed companies hits $5 trillion first time ever
The total market cap of all BSE-listed companies reached $5 trillion or over Rs 414.46 trillion, showing a climb of over $633 billion since the start of the year.
BUSINESS
FIIs dump financial, IT, construction, oil & gas, FMCG holdings in first half of May
According to analysts, the huge selling was due to election-related concerns, turning risk-averse, and reducing equity exposure to avoid surprises.
BUSINESS
Kotak Mahindra Bank sees MFs pick up shares worth Rs 8,100 crore in April
The mutual fund purchases in Kotak Mahindra Bank followed a significant sell-off triggered by the Reserve Bank of India's ban on new customer onboarding by the bank via online and mobile banking, along with the suspension of new credit card issuance.
INDIA
FIIs shed over $2 billion in equities in first six sessions of May
FIIs sold about $800 million in domestic equities from May 2 to May 7, according to data from the National Securities Depository Ltd.
INDIA
F&O turnover hits a five-month low as low volatility diminishes opportunities for traders
The combined cash market turnover also saw only a modest rise, which was the lowest in five months
BUSINESS
Kotak Bank’s loss is Federal Bank’s gain
The exit of Joint Managing Director KVS Manian dragged Kotak Bank’s stock by 3 percent. But Federal Bank, where he is tipped to join as per reports, gained 3 percent
BUSINESS
Kotak Bank on a losing streak as analyst downgrades accelerate
The exit of KVS Manian re-ignites fears of more exits at the senior and mid-management levels
INDIA
BSE MidCap, SmallCap indices brave headwinds, put up strong show in April
In April so far, the BSE MidCap index rose 5.7 percent, its highest since December 2023, while the BSE SmallCap Index surged over 9.7 percent, marking its biggest jump since February 2021
INDIA
Foreign investors cut stakes in FMCG firms as soaring input cost threatens Q4 earnings
Varun Beverages and Britannia Industries hit a six-week low in FII ownership, while Dabur India and Godrej Consumer Products recorded their lowest FII ownership since December 2015.
INDIA
Foreign investors brave smallcap corrections, raise stakes in March quarter
FIIs raised stakes in almost 60 percent of firms on the BSE SmallCap index in the March quarter. Out of 1,000 BSE SmallCap index stocks, 596 saw a rise in FII holding
INDIA
FIIs rush in for power sector shares in April, sell off FMCG, IT stocks
The FIIs made substantial investments in the financial services sector at Rs 3,212 crore, consumer services sector at Rs 1,713 crore, and automotive and telecommunications sectors at Rs 1,660 crore each
BUSINESS
Adani Group releases Rs 26,500 crore pledged shares in FY24
In FY24, Adani Power saw the largest release of promoter pledge shares, followed by Adani Ports & SEZ and Adani Green Energy. In March 2023, Adani Power had pledged 72.72 crore promoter shares, which has now reduced to 44.56 crore
INDIA
Big bet gets bigger. GQG bough additional shares worth Rs 8,300 crore in Adani Group companies in March quarter
As of the March 2024 quarter, GQG Partners' stakes in the six Adani Group firms were valued at around Rs 54,300 crore, after surging 33 percent from Rs 40,480 crore in the previous quarter. The companies are Adani Enterprises Ltd, Adani Energy Solutions Ltd, Adani Green Energy Ltd, Adani Ports and SEZ, Adani Power Ltd and Ambuja Cement Ltd.
INDIA
ICICI Pru MF alone picks up Rs 5,822-crore ITC shares in March block deals
ICICI Prudential bought around 13.85 crore shares in ITC in block deals valued at Rs 12,695 crore. As many as 32 other mutual funds bought around Rs 2,991-crore shares in ITC in March
INDIA
Groww grabs market share from rival discount brokers, traditional platforms
Groww’s active investor base swelled to 9.5 million active investors in March 2024, up 77.5 percent from a year ago, according to NSE data. Its market share has expanded to 23.4 percent, from 16.5 percent last year.
BUSINESS
Midcap, smallcap stocks see MFs buying on dips during March correction
Several analysts have cautioned investors to stay away from the midcap and smallcap stocks for now and, instead, focus on quality stocks only
BUSINESS
Only four stocks contribute 60% to the 5,000-point rally in Sensex to Summit 75K
The market cap of these four stocks increased by Rs 7.31 lakh crore, with Reliance Industries alone contributing over 29 percent to the surge in Sensex
INDIA
Historic moment: BSE-listed firms' m-cap hits Rs 400 lakh crore for first time ever
The market capitalisation of BSE-listed companies crossed Rs 400 lakh crore for the first time to hit a lifetime high on 8 April 2024, with continued rally in blue-chip, mid-cap and small-cap indices.
INDIA
Fab four for foreign investors corner 60% of FII inflows in FY24
In FY24, Indian equities saw a total foreign inflow of Rs 2.08 lakh crore. Capital goods received the largest share at around Rs 46,935 crore, followed by consumer services, auto, and financial services with inflows worth Rs 32,186 crore, Rs 29,862 crore, and Rs 28,793 crore, respectively
INDIA
Demat account additions reach a record 3.7 crore in FY24
the number of Rs 1-trillion mcap stocks has increased to 80 from 48 last fiscal year, accompanied by a significant rise in coverage by sell-side analysts, with 250 stocks now covered by at least 10 analysts
INDIA
Gold underperforms flagship Sensex, Nifty in FY24
In FY24, Sensex and Nifty surged around 25% and 29% respectively, while MCX Gold and international gold saw gains of 12.5% and 13.2%, respectively. This marks the seventh consecutive year of positive returns for MCX gold and the fourth consecutive year for international gold
INDIA
The trillion rupee club: 80 firms with Rs 1 trilion in marketcap in FY24, up from 48 previous fiscal
This figure marks a notable increase from FY23 and FY22, with 48 firms achieving a market capitalisation exceeding Rs 1 lakh crore each year. In FY21, the count stood at merely 36. Contrastingly, FY20 saw 19 such firms, a decrease from FY19 and FY18 when 29 and 27 listed companies reached this milestone, respectively
