ETMarkets Smart Talk- Double digit earnings growth! Indian market likely to outperform peers in 2023: Rakesh Parekh
However, we are trading close to the last 5-year averages of around 20x forward P/E. Our expected earnings growth will be around 15% CAGR in the next two years, which is clearly on the upswing compared to the rest of the world.
Concord Biotech’s niche API play holds promise for growth
ET Intelligence Group: Ahmedabad-based Concord Biotech is a global supplier of bio-pharmaceutical APIs and formulations, serving more than 70 countries, including regulated markets like the United States, Europe and Japan.
Indian economy’s size to double by FY31, growth to average 6.7%: S&P Global
Indian economy will average 6.7% growth between FY24 and FY31, S&P said in a report. India will also double the size of the economy to $6.7 trillion within the next eight years. It forecasted India’s per capita GDP to increase to $4,500 by FY31. It further pointed that geopolitics can provide potential tailwinds for India’s […]
Apple sees sales slump continuing, shares drop 2%
Apple shares dropped about 2% after the mixed results and outlook. Strength in services drove the profit beat in the third quarter, but weaker than expected sales of Apple’s most famous device, the iPhone, underwhelmed investors. Executives said iPhone sales would improve but did not say how much.
Morgan Stanley upgrades India, downgrades China
“With GDP per capita only $2.5k per capita (vs. $12.7k for China) and positive demographic trends, India is arguably at the start of a long wave boom at the same time as China may be ending one,” said Morgan Stanley’s equity strategists, including Jonathan F Garner, in a note to clients.
Sebi puts NSDL’s proposed Rs 3,000-cr IPO in abeyance
The capital markets regulator said in a notification that the “issuance of observations (has been) kept in abeyance.” It did not provide further details. NSDL last month filed its draft red herring prospectus with the Sebi for an IPO which is entirely an offer for sale (OFS) of 57,260,001 shares by existing investors such as […]
Companies line up IPOs to raise around Rs 8,000 cr in August
Companies such as SBFC Finance, Concord Biotech, Jupiter LifeLine Hospitals, TVS Supply Chain Solutions, Balaji Speciality Chemicals, Yatra Online, Innova Captab, Aeroflex Industries, Rishabh Instruments, and Vishnu Prakash R Punglia are likely to launch their maiden public issue this month.