Mid, smallcaps likely to outperform in September; Nifty seen range-bound: Analysts
September historically favors mid- and small-cap stocks over large-caps. Analysts anticipate this trend continuing, expecting limited upside for the Nifty. Heavyweight sectors show recent weakness, and foreign investor selling has resumed. Domestic fund flows remain concentrated in mid- and small-cap stocks. Market action is expected to remain stock-specific until fresh triggers emerge.
FPIs stay open to IPO bets despite equity exodus
Foreign investors have shown a strong preference for India’s primary market, channeling $4.9 billion into initial public offerings, which sharply contrasts with the $28.9 billion outflow from the secondary market. The momentum in primary market inflows picked up after July, highlighted by substantial contributions to major IPOs. Alongside this, domestic fundraising from a plethora of […]
IPO rush: India Inc to seek up to Rs 25,000 crore more in Sept
India’s primary market anticipates a strong September with IPOs worth twenty to twenty-five thousand crore. Nearly twenty-five companies are preparing to launch offerings before their approvals expire. This surge reflects improved issuer sentiment after a cautious first half of the year. Companies are capitalizing on better market conditions and recent successful listings. This activity aims […]
Global Market Today: Asian bonds fall as geopolitical risks lift oil, yields
Brent crude extended gains in early Asian trading to over $91 a barrel after renewed fighting in the Middle East. The US and Iran exchanged strikes for the first time in about a month as American forces hit an island in the Strait of Hormuz and the Islamic Republic responded by launching attacks on the […]
Muthoot Finance approves Muthoot Money merger to create larger gold loan business
In a move to strengthen its market position, Muthoot Finance plans to incorporate Muthoot Money, its wholly-owned subsidiary, into its operations. This merger is designed to foster operational synergies and improve resource allocation. It is expected to streamline the management structure and optimize operational costs, thereby building a more competitive gold loan venture. The plan […]
Rajesh Exports repays ₹510 crore dues to Canara Bank after DRT order
Canara Bank recovered all dues totaling ₹510 crore from Rajesh Exports. This recovery followed an order by a debt recovery tribunal. The bank initiated this action after the company blocked other recovery attempts. Rajesh Exports faced allegations of financial misrepresentation from SEBI. The bank was the largest creditor for the gold and jewellery exporter.
Pace of gold loan expansion slows as banks adjust to new regulations
Bank gold loans grew significantly, though at a slower pace. Personal loans also saw increased growth, driven by housing and vehicle financing. New regulations adjusted loan-to-value ratios and repayment tenures for gold loans. Housing and vehicle loans experienced notable year-on-year increases in their outstanding amounts. Overall bank credit expanded robustly, with services sector leading the […]
HDFC’s search for a new CEO may go beyond its inner circle
HDFC Bank’s board faces a difficult CEO succession task with a thin internal leadership pipeline. Regulatory tenure limits may push the bank towards a wider external executive search. Analysts suggest candidates from other banks and NBFCs could be considered. Jagdishan’s exit offers an opportunity for a strategic reset and narrative change. The bank’s strong franchise […]
New trade rules raise compliance worries for banks over cross-border payments
As of October first, banks will bear the new burden of overseeing cross-border payment transactions. They are required to confirm the validity of service contracts and foreign entities involved. Furthermore, banks will also be tasked with tracking export revenues and handling overdue export bills, creating a challenging landscape in service imports and exports aimed at […]