Companies flock to public markets as IPO fundraising jumps 19% to nearly Rs 62,000 cr in FY24
While FY24 saw firms from varied sectors tapping the IPO market, BFSI had a limited presence, with just Rs 9,655 crore being raised by companies from this sector. This accounts for about 18% of the total IPO fundraising, compared with 51% in FY23.
NSE Rejig: $94 million cumulative passive inflows seen in NTPC, 2 other PSU stocks, says Nuvama
NTPC’s weight on the Nifty CPSE is expected to go up 20% versus the current weight of 17.9%. As for NHPC and NLC, the new weights post the readjustment will likely be 4.6% and 1.2%, respectively, versus 4.2% and 0.9%, now.
Nuvama bullish on SMIDs, lists top 6 midcap stock picks
“The current scenario has reached an oversold condition at key support levels and we recommend taking long positions. The broader market, which was overheated, has seen a healthy decline and it appears that the price correction phase is over and will likely lead to a bottoming and a resumption of the bull phase,” it added.
Tech View: Nifty stuck in narrow range. What should traders do on Wednesday
One needs to take an open-minded approach in such a scenario. Support for the Nifty is now seen at 22,000 and 21,800-850 levels. On the higher side, immediate resistance for Nifty is at 22,075 levels and the next resistance is at 22,200-250 levels, said Tejas Shah, Technical Research, JM Financial & BlinkX.
Abrdn adds Indian bonds amid index Inclusion, attractive yields
India’s debt market is projected to attract up to $40 billion of new money with JPMorgan Chase & Co set to add the country’s bonds into its indexes from June. Foreigners currently hold just a fraction of Indian debt.
Mankind Pharma stock falls 3% as PE investors likely sell 1.3 crore shares
PE firm ChrysCapital’s affiliate entity Beige Ltd was reported to have issued a term sheet via its broker to sell up to 1.16 crore shares of Mankind Pharma at a price range of Rs 2,103.21 to Rs 2,214 per share.
Bharti Hexacom sets price band at Rs 542-570 for IPO, issue opens on April 3
The Bharti Hexacom IPO consists solely of an OFS component, without any fresh issue of shares. The anchor book of the first public issue of the new financial year FY2024-25 will be open for a day on April 2. The company aims to raise Rs 4,275 crore from the stake sale.
Calm over polls leaves India option traders exposed to surprises
While NSE Nifty 50 Index’s monthly options expiring just after the election have risen slightly in value relative to shorter-term contracts as the world’s largest democratic exercise approaches, their premium over April is 61% smaller than it was before the May 2019 vote, data compiled by Bloomberg showed.
Technical picks: Bajaj Finserv, LTIMindtree among 8 stocks that can rally up to 22% in short term
India’s blue-chip indices Nifty and Sensex surged marginally on Friday last week, led by auto, financial, and metal stocks.
Passive mutual funds deliver up to 98% returns in FY24. Is active investing useless?
We calculated returns offered by passive mutual fund schemes during the financial year 2023-24. Returns were calculated starting from April 1, 2023, to March 18, 2024.