Accel-backed Rentomojo files for India IPO
Online furniture rental platform Rentomojo has filed for an initial public offering in Mumbai, according to a draft prospectus dated Friday.
Finance minister Nirmala Sitharaman assures fiscal vigil amid oil spike
India’s Finance Minister Nirmala Sitharaman is boosting efforts to raise funds and control the fiscal deficit. The government is protecting citizens from rising crude oil prices. Lockdowns are not planned. She urged leaders to avoid spreading rumors. Excise duty on petrol and diesel has been cut to manage domestic inflation and volatility.
India, US review next steps in trade pact talks
Commerce and Industry Minister Piyush Goyal met with US Trade Representative Jamieson Greer and Chinese counterpart Wang Wentao on the sidelines of the WTO Ministerial Conference. Discussions focused on the proposed India-US bilateral trade agreement and bilateral trade matters with China, amidst India’s growing trade deficit with the latter.
India may face credit stress if Gulf conflict drags on: Moody’s
A Moody’s report warns that India and other Asia-Pacific economies face rising credit stress due to the ongoing Gulf conflict. Higher energy prices and supply disruptions, particularly for fuel, food, and industrial inputs, will impact import-dependent nations. Producers heavily reliant on Middle Eastern oil and naphtha are most exposed.
Mukesh Ambani’s mega IPO Reliance Jio is said to set bank fees in line with NSE
Reliance Industries Ltd. is planning a massive IPO for its telecom arm, Jio Platforms Ltd. The company is setting investment banking fees at a competitive 0.65% of the issue size. This move is in line with the National Stock Exchange of India Ltd.’s proposed fees. The Jio IPO could be India’s largest ever.
SAEL Industries, Vishvaraj Environment, Symbiotec Pharmalab and 3 others get Sebi nod to launch IPO
Securities and Exchange Board of India approved IPOs of six companies, including Vishvaraj Environment and SAEL Industries. Firms span sectors like renewable energy, chemicals and SaaS, while Jindal Supreme withdrew its draft papers, reflecting active primary market momentum.
GLP-1 impact: Jefferies sees these 3 stocks as winners in the race for Ozempic, Wegovy generics
Indian drug makers are launching affordable generic Semaglutide, the active ingredient in popular weight-loss drugs. Sun Pharma, Lupin, and Torrent Pharma are identified as potential market leaders. Despite initial stockouts online, companies are adjusting supply. The market for these diabetes and obesity drugs is expected to grow significantly in India.
Valuations now attractive, says Sahil Kapoor; sees opportunity in banks and IT
Indian stocks are presenting new opportunities as valuations have corrected significantly. Sahil Kapoor of DSP Mutual Fund highlights that while earnings growth is moderate, lower stock prices offer a chance for long-term investors. Financials, especially private banks, and select IT companies are seen as attractive. The market is becoming more constructive for global investors.
Rupee under pressure: Macro headwinds signal further weakness ahead, says Navneet Damani
The Indian rupee is experiencing a significant decline. Global economic shifts and domestic challenges are driving this depreciation. Analysts point to a stronger US dollar and rising US bond yields. Elevated crude oil prices also pose a risk. This situation complicates the Reserve Bank of India’s policy outlook. The rupee may remain under pressure in […]
Govt’s fuel duty cut seen as timely cushion; markets may have passed peak panic: Deven Choksey
India’s fuel excise duty cut is a timely move to curb inflation and bolster consumer demand amid global turmoil. Experts believe this proactive step, similar to COVID-19 responses, offers a cushion for consumers and oil companies.