Payments Industry to touch $49 trillion by 2028: BCG
The Indian payments industry is projected to grow to $49 trillion in value by 2028 from $30 trillion in 2023, with transaction volumes expected to increase to 434 billion. Revenue growth in this sector is forecasted at 11%, with credit cards and fund transfers leading the expansion.
For Canadian funds, India’s the goose laying golden nest eggs
The Canada Pension Plan Investment Board (CPPIB), the largest Canadian investor in India, has been trimming its stakes in Indian stocks over the past year, while other funds Caisse de Depot et Placement du Quebec (CDPQ) and British Columbia Investment Management have kept their holdings in the country unchanged.
Coffee Can Investing may not be a good idea for mega IPOs
Out of the country’s 30 largest IPOs with issue sizes between ₹4,000 crore and ₹20,000 crore so far, 18 have lagged the performance of the Nifty 500 index, according to a study by Capitalmind Financial Services.
Hyundai IPO: Bids at 42% on Day 2
The non-institutional investor (NII) portion, primarily high-net-worth individuals, was subscribed 0.26 times, while the retail investor portion saw a subscription of 0.38 times. The employee reserved portion, offered at a discount of Rs 186 per share, was oversubscribed at 1.31 times (130%). Meanwhile, the qualified institutional buyer (QIB) portion was subscribed 0.58 times.
Tech view: Nifty faces resistance from short-term moving averages, forms small negative candle. How to trade tomorrow
After acting as support for months, the 10 and 20-day exponential moving averages (EMAs) have recently been breached. These EMAs now pose resistance around 25,150-25,200, indicating a potential shift in momentum. This change in polarity suggests a cautious approach as the market navigates this critical juncture.
RIL sets October 28 as record date for 1:1 bonus share
Reliance Industries received shareholders’ approval for 1:1 bonus share and increased authorized share capital. The total percentage of votes cast in favor of the bonus issue resolution was 99.92% with just 0.07% votes against it.
New policy surrender rules, intense competition likely to affect HDFC Life’s H2 performance
The stock of HDFC Life recovered partially on Wednesday, gaining 1.9% after sliding by nearly 4% the previous day following the insurer’s second quarter result announcement. The stock reported weakness despite the double digit growth in premiums and improving market share.
Axis Bank Q2 results preview: Double-digit NII growth may drive PAT higher by 8% YoY
Axis Bank is predicted to report an 8% increase in net profit for Q2 FY24, driven by a 10% rise in net interest income and a reduction in slippages on a sequential basis. Loan growth is expected at 11% year-on-year, while slippages are projected to increase by 29% year-on-year.
Sebi mulls allowing Associations of Persons to open demat accounts
Markets regulator Sebi on Wednesday proposed allowing Associations of Persons (AOPs) to open demat accounts in their name to hold certain securities, excluding equity shares.
Govt to exercise greenshoe option in Cochin Shipyard OFS after receiving bids worth Rs 1,900 crore
The Centre has decided to exercise the greenshoe option in the Cochin Shipyard OFS after it received bids worth over Rs 1,900 crore from institutional investors on Wednesday. Institutional investors oversubscribed the portion of shares by placing bids for 1.28 crore shares as against 59.19 lakh shares offered.