INDIA
RBI Monetary Policy: 10-year bond yield hits 7%, first time since June 2019
Introduction of standing deposit facility that will serve as the floor rate is in effect a raise of 40 bps
BUSINESS
Adani Group becomes third Indian conglomerate to cross $200 billion Mcap
Analysts said that stock prices of Adani Group firms surged after they expanded and diversified into multiple businesses leading to earnings visibility in the future
EARNINGS
Once merged, HDFC twins to pop into global club of 100 most valued firms led by Apple
The combined entity will be the 63rd most valued firm globally, according to Bloomberg data.
MARKETS
10-year government bond yield rises to 33-month high
In the first half of the fiscal year 2023, the government plans to borrow a gross Rs 8.45 trillion, which amounts to 59% of the target for the full year
IPO
Kfin Tech files draft papers with Sebi for Rs 2,400-crore IPO
The IPO will be a pure offer for sale of upto Rs 2,400 crore by its existing promoters General Atlantic Singapore Fund Pte Ltd. Currently, General Atlantic Singapore Fund Pte holds 74.94% stake in the firm.
INDIA
Amid war and volatility, India’s stock market finds earnings candle
Earnings per share (EPS) estimates of Nifty50 companies have been raised, led by key sectors such as banks and commodities. EPS estimates rose 5.8 percent in the current quarter, Bloomberg data showed. For the 30-stock BSE Sensex, the EPS target rose by 4.55 percent.
EARNINGS
ITC surges 17% in March, the most in 16 months
This comes as peers have dropped on fears of margin pressure due to rising input costs
IPO
Tight-leashing of Ruchi Soya seen as watchdog getting protective of investors in wake of recent meltdowns
In a first, the Securities and Exchange Board of India has allowed investors to withdraw their applications to the company’s follow-on public offer after reports of unsolicited messages advertising the FPO surfaced
BUSINESS
Bharti Airtel buys Vodafone's 4.7% stake in Indus Tower for Rs 2,388 crore
The firm acquired 4.7% stake in Indus Towers at Rs 187.88 a share, it said in a notice to exchanges. This deal was on the condition that funds will be used by Vodafone, as fresh equity in Vodafone Idea and simultaneously remitted to Indus to clear VIdea’s outstanding dues.
INDIA
IPO-bound Oyo files request for exemption with SEBI amid delay in listing
The request is under process according to the posting on SEBI's website, which did not provide details on the type of exemption sought.
IPO
Joyalukkas India files draft papers to raise Rs 2,300 crore via IPO
The proceeds from the Joyalukkas India issue worth Rs 1,400 crore will be used to repay debt. As of 28 February 2022, the total outstanding debt of the firm was at Rs 1,524.47 crore.
IPO
Hariom Pipe Industries prices IPO at Rs 144-153 a share
The IPO will open on 30 March and close on 5 April. Allotment will be on 8 April and initiation of refunds on 11 April. The issue will be listed on 13 April.
INDIA
PVR, Inox Leisure hit 25-month high as RRR hits cinemas
Analysts say revival is on the cards for the multiplex industry as Covid restrictions go. Spending per head and the average ticket price have already gone past pre-Covid levels
INDIA
PKH Ventures files draft papers for IPO
Proceeds will be used by the firm’s arm Halaipani Hydro Project Pvt Ltd among others
INDIA
Vikram Solar files draft papers to raise funds via IPO
The IPO consists of a fresh issue of Rs 1,500 crore and offer for sale of upto five million shares by its existing shareholders and promoters. The firm may consider a pre-IPO placement of Rs 300 crore, the firm said in its DRHP.
IPO
Veranda Learning sets IPO price band of Rs 130-137 a share
The basis of allotment will be on April 5 and allotment and refunds will be on April 6. The firm plans to list on exchanges on April 7.
IPO
Uma Exports sets IPO price band at Rs 65-68 a share
Initiation of refunds and credit of equity shares to demat accounts of allottees will be on 5 April. Uma Exports had filed draft papers in September 2021.
IPO
Ruchi Soya prices its follow-on public offering at Rs 615-650 a share
The higher end of the price band – Rs 650 a share – represents a 35 percent discount from Thursday's closing price
IPO
Paytm free fall hurts, Vijay Shekhar Sharma no longer a billionaire
According to Forbes, Sharma's wealth stands at $999 million from its peak of $2.35 billion before the finetch listed on November 18, 2021. Since then, Sharma has been losing around Rs 88 crore a day
IPO
Bleeding IPO stocks tell the story of how Fed, Russia popped the bubble
Expected policy tightening by the Fed, coupled with the Russia-Ukraine war, means the dollars that chased emerging market stocks are no longer doing so. The fall in valuations of Indian IPOs have clearly shown the froth that dollar liquidity created
IPO
Nasdaq-listed Ebix Inc's Indian subsidiary files for IPO to raise Rs 6,000 crore
The firm may consider a pre-IPO placement of as much as Rs 1,200 crore
INDIA
With $3.16674 trillion MCap, Indian stock market beats its British peer
India lost nearly $357.05 billion in market cap (MCap) since the geopolitical tensions flared up last month, while the British markets suffered an erosion of $410 billion
MARKETS
Dish TV India to challenge in SAT the SEBI order to disclose outcome of December AGM
SEBI on March 7 gave Dish TV India 24 hours to disclose the results of AGM voting held on December 30. It also ordered depositories to freeze the demat accounts of the directors and the company's compliance officer
MARKETS
Nifty MidCap100, SmallCap100 turns in bear territory; falls over 20% from high
Nifty MidCap 100 hit a record high of 33243.50 on 19 October 2021. Since it's all-time high, Nifty MidCap 100 has fallen 20.18%. For Nifty SmallCap100, the index is down nearly 21% from its record high. Nifty SmallCap100 hit an all time high of 12047.45 points on 18 January 2022.
