All stories by Samie Modak
I-bankers earn record Rs 493 crore from Hyundai IPO
Rediff.com21 Oct 2024Hyundai Motor India Limited's (HMIL's) record Rs 27,870 crore initial public offering (IPO) may not have set the primary market alight with sky-high subscription levels, but it has spelled a windfall for the five investment banks steering the share sale. The Indian arm of the South Korean carmaker paid Rs 493 crore - 1.77 per cent of the issue size - in fees and commissions to the book running lead managers (BRLMs), marking the largest-ever payout for an IPO in the country.
IPO-bound Hyundai Motor India raises Rs 8,315 cr from anchor investors
Rediff.com15 Oct 2024Hyundai Motor India (HMIL) raised Rs 8,315 crore from anchor investors on Monday, setting the stage for the country's biggest-ever maiden share sale. The Indian arm of the South Korean carmaker Hyundai Motor Company (HMC) allotted 42.4 million shares to 225 funds at Rs 1,960 apiece, the higher end of its price band. Among the investors receiving allotments were the Singapore government's sovereign wealth fund (GIC), New World Fund, and Fidelity.
India-focused funds log first weekly redemption in 19 mths
Rediff.com14 Oct 2024India's stock markets are experiencing a shift in investor sentiment, with a 30 per cent surge in Chinese stocks, prompting investors to move money from domestic markets to China. This reversal of fortunes is a notable change from the past three years, where China's losses benefited India.
India Breaks $1 Trillion FPI Mark
Rediff.com8 Oct 2024The Indian markets have delivered high long-term returns, second only to the US.
Trent may replace Bajaj Finserv in Sensex rejig in December
Rediff.com24 Sep 2024Bajaj Housing Finance Ltd's impressive stock market debut has brought cheer to the 100-year-old Bajaj Group, but the conglomerate faces the prospect of Bajaj Finserv being removed from the benchmark Sensex index. According to market expectations, Trent, a Tata group-owned fashion retailer, is likely to replace Bajaj Finserv during the upcoming index rebalancing in December.
IPO Investors Sell IPO Shares In A Week!
Rediff.com7 Sep 2024The greater the post-listing gains, the higher the number of investors looking to sell.
India just shy of top-weight China in MSCI EM after rejig
Rediff.com14 Aug 2024The Indian equity markets will soon account for over a fifth of a key emerging market (EM) benchmark tracked by funds with assets exceeding $500 billion. This development is expected to funnel as much as $3 billion into the domestic markets. Following the latest review undertaken by global index provider MSCI, India's weighting in the MSCI EM index will surpass 20 per cent for the first time, narrowing its gap with the current top-weighted China to fewer than 400 basis points.
71% intra-day traders pay the price chasing quick gains
Rediff.com25 Jul 2024Over 70 per cent of individual investors who engage in intraday trading incurred an average loss of Rs 5,371 during 2022-23 (FY23), according to a study conducted by the Securities and Exchange Board of India (Sebi). Intraday trades involve buying and selling securities within the same trading day. The study covered nearly 7 million investors trading in the equity cash segment.
'Nifty 50 Index Is A Bit Of A Mirage'
Rediff.com18 Jul 2024About two-thirds of the incremental net income of the Nifty 50 over FY19-24 has come from companies in relatively low-valued sectors such as banks, diversified financials, IT services, and metals and mining.
Equity capital market fee pool at 17-year high as activity up 2.5x
Rediff.com18 Jul 2024The fee pocketed by investment banks for handling equity share sales stood at $244 million during the first half of calendar year 2024. This was the highest first half figure since 2007, according to LSEG Data & Analytics, a provider of financial markets data. Capital mobilised via equity capital market (ECM) activity jumped 2.5 times to $29.5 billion - the highest-ever semi-annual total in terms of proceeds.
Rs 2,000 Crore Raised Daily Jan-Jun 2024!
Rediff.com12 Jul 2024Equity supply may hit Rs 6 trillion soon.
Nifty may sport new look after Sebi's F&O tweak, expand to over 200 firms
Rediff.com6 Jul 2024The Nifty 50 index is poised for a revamp as the revised futures and options (F&O) stock selection criteria is seen paving the way for newly listed companies to join the benchmark index, which is tracked by passive funds with combined assets under management of more than ~3.5 trillion ($44 billion). For the first time in six years, the market regulator Securities and Exchange Board of India (Sebi) has tweaked the stock selection process for the derivatives segment that clocks a turnover of ~400 trillion daily.
Promoters Sold Rs 87,000 Crore Of Shares
Rediff.com2 Jul 2024Prominent exits by promoters included a Rs 15,300 crore share sale in Indus Tower by Vodafone Plc, a Rs 9,300 crore share sale by the Tata group in Tata Consultancy Services.
'Indian rupee best-performing Asian currency this year'
Rediff.com29 Jun 2024'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
Unlisted Shares Market Is Buzzing
Rediff.com29 Jun 2024The dealers operating in the space have jumped nearly three times over the past two years.
'I Hope We Don't Get A Bubble Too Soon'
Rediff.com21 Jun 2024'China is struggling to get out of its property bubble.' 'Japan took 35 years to walk out of its equity bubble.' 'Bubbles can be difficult to forecast.'
'Market Is Pricing In Comfortable BJP Majority'
Rediff.com30 May 2024'While any figure above 272 would provide the BJP with a stable platform for the next five years, a number below 303 would suggest the BJP has possibly peaked.'
'Market Assumes Modi's Easy Re-Election'
Rediff.com29 May 2024'We emphasise the importance of not basing investment decisions solely on electoral outcomes.' 'Instead, focusing on investing in high-quality businesses capable of prospering regardless of the political landscape is paramount.'
BSE now corners a fifth of derivatives market share
Rediff.com9 May 2024BSE (formerly Bombay Stock Exchange) has seen its market share go past the critical 20 per cent mark in the derivatives segment, intensifying its battle with bigger rival - the National Stock Exchange (NSE) - which, less than a year ago, had a monopoly in this space. In April, the average daily trading volume (ADTV) for BSE stood at Rs 89 trillion, accounting for 20.6 per cent of the overall ADTV of Rs 432 trillion (based on notional volumes for options).
Changing complexion: Adani stocks now have prominent investor base
Rediff.com24 Apr 2024Amid intense scrutiny from short-sellers and regulators, Adani group stocks have seen a significant shift in their shareholder base: Relatively opaque foreign portfolio investors (FPIs) have given way to more recognisable investors and broad-based funds. The list of large public shareholders - those directly holding at least 1 per cent - is now dominated by entities, such as the state-owned Life Insurance Corporation (LIC), US-based GQG Partners, Abu Dhabi-based International Holding Company, and Qatar Investment Authority's INQ Holding.