EARNINGS
Sensex, Nifty decline 5% in June alone, steepest in 27 months, as FIIs flee Indian equities
In June, Sensex and Nifty lost 4.9 percent each, its steepest fall since March 2020. Both the indices hovered near one-year lows. The rupee at the same time lost 1.8% and the 10-year bond yields stayed flat
COMPANIES-2
Buybacks likely to slow down as market uncertainty continues
Companies would rather hold cash to fund working capital requirements or potential acquisition opportunities.
EARNINGS
Wipro and IT shares lose charm, but banks are courting investors
Since the start of 2020, Covid-led disruptions had been a blessing in disguise for IT and consumer goods stocks, spurring increased adoption of digital technology and demand for consumer products. Such demand has slackened
IPO
Officer's Choice whisky maker Allied Blenders files papers for Rs 2,000-crore IPO
The IPO will consist of a fresh issue of Rs 1,000 crore and an offer for sale of shares worth up to Rs 1,000 crore by promoters and shareholders
COMPANIES-2
Past is no guide for traders looking to manoeuvre around US Fed rate hikes
The current quantum and pace of rate hikes is unprecedented. This could have far-reaching repercussions on the global economy, experts say.
BUSINESS
Rupee continues to tumble, BofA now sees it at 81 to a dollar by December
This year, the Indian currency has already declined 5% due to continuous dollar outflows from local markets. Foreign investors have sold equities worth around $27.22 billion, so far, this year
BUSINESS
Bear Market Woes: 83% of Nifty 500 stocks give negative returns in 2022
While the Nifty 500 lost 12 percent, the BSE Sensex and Nifty 50 have declined nearly 9 percent each. However, long-term investors are viewing this as an opportunity to buy good growth stocks at attractive valuations.
BUSINESS
Consumer durable stocks slide on falling demand, slowdown fears
The BSE consumer durables index has fallen more than 11% in the last 15 sessions and analysts expect the pain to continue
BUSINESS
Domestic institutional investors pump record Rs 2 trillion into equity market so far this year
Investors have been taking advantage of the correction in the market; also DIIs have been net buyers for 16 consecutive months even as FIIs have been net sellers.
MARKETS
Rupee hits fresh record low, weakens past 78 a dollar on global equity slump, inflation worries
FII's sold $23.87 billion in domestic equities so far this year amid higher crude that continues to stock worries about higher inflation and fiscal deficit.
IPO
Rustomjee group firm Keystone Realtors files IPO papers to raise Rs 850 crore
Keystone Realtors IPO | The issue comprises a fresh issue of Rs 700 crore and an offer for sale of upto Rs 150 crore by its existing shareholders and promoters.
BUSINESS
Rupee hits fresh low against dollar as FIIs continue selling
The currency opened at 77.75 and touched a fresh record low of 77.8075 a dollar. At 12.32 pm, it was trading at 77.80 a dollar, down 0.08% from its previous close.
BUSINESS
RBI’s rate hikes herald testing period for India Inc’s debt-servicing heft
Companies could be hurt by the rising cost of money and input cost pressures that are crimping their profit margins
INDIA
Bond market shows faith and fortitude after RBI hikes repo rate by 50 bps
Ten-year bond yields fell 7 basis points to 7.451 percent from its previous close of 7.518 percent, while shorter four-year bond yields dropped 12 basis points, three-year bond yields lost 9 bps and two-year yields erased over 14 basis points
BUSINESS
Indian shares lag Asian peers in dollar terms, clouded by oil prices, liquidity tightening
The pace at which Indian equities have fallen has not been as fast as the Asian markets when measured in the local currency.
INDIA
10-year bond yields hit 7.5% as surging crude prices stoke inflation worries
The RBI will announce its policy on June 8. Analysts expect a 50bps hike in the repo rate to 4.9 percent this week and 25bps in August to reach the first milestone of the pre-pandemic level of 5.15 percent
BUSINESS
Volatility index declines 22% through 5 sessions of market rally
The India volatility index (VIX), often referred to as a fear gauge, fell nearly 22% in the last five sessions to 20 from 25.63 on 24 May.
BUSINESS
Into the red, yet 11 companies thrash out dividend plans for this fiscal
The payouts, subject to shareholder approval, in the bulk of the cases benefit the companies’ promoters the most.
BUSINESS
PayMate India files draft papers to raise Rs 1500 crore via IPO
ICICI Securities, HSBC Securities and Capital Markets India, JM Financial and SBI Capital Markets are the lead managers to the issue.
EARNINGS
Average Nifty 50 stock offers 26% upside after sharp decline in 2022
The upside is from the fair value of the stock, measured by the average of price targets for the counter
BUSINESS
IndiGo shares jump 10% as airline plans to hike fares with focus on profitability
The firm reported a consolidated net loss of Rs 1,681.80 crore . Revenue of the company jumped 29% from a year ago to Rs 8,020.75 crore. Operating profit margin contracted sharply to 2.1% in the quarter from 10.4% a year ago.
BUSINESS
Paint stocks in the red after Grasim doubles capex plan
Grasim has accelerated the execution of paints capacity of 1.33 billion litres, with commissioning of plants to start in phases starting fourth quarter of FY24
BUSINESS
Metal stocks melt down as government imposes export duties
ICICI Securities has said it is an "extremely negative development" for the steel sector and it expects broad-based multiple de-rating
POLITICS
Bond prices and rupee fall as fuel tax cut sparks fiscal slippage worries
According to Barclays, tax cuts on motor fuels, cooking gas subsidies and duty cuts on imports could ease prices but widen fiscal deficit to 6.9% of GDP, significantly overshooting budgetary estimates of 6.4%.
