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.
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.
