India Financial News

Most of the PSU stocks continued their dream run this week too, and as rightly put, it appears that FOMO is creeping amongst the investors as many of the PSU stocks, in defence, power, financials, infrastructure, have turned out to become multibaggers, significantly adding to the wealth of the investors, Aamar Deo Singh, Senior Vice President-Equity, Commodity & Currency at said, advising investors to remain alert and look at investing light. This analyst spells-out strategy in previous week’s major movers viz. Cochin Shipyard, Zomato and Global Health (Medanta) and three more stocks. Here’s what he recommends: Edited excerpts:

market is likely to see a renewed wave of IPO rush in the next three to four months with the general elections out the way. Data and multiple reports suggest that over 30 companies are ready to hit the market in the few months, aiming to raise over Rs 50,000 crore. Analysts said there are as many as 24 companies planning to launch IPOs worth Rs 30,000 crore.

IT sector is currently a dark horse, influenced more by the global economic regime than India's policy framework,” says Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS. In an interview with ETMarkets, Kulkarni said: “The stock markets will likely trend upward in the next six months. The upcoming budget will be a critical factor to watch out for,” Edited excerpts:

VIX has now cooled off and the investors have readjusted to all the sentiments that were out during the last two weeks. The 50 component index Nifty50, ended the week by closing near its upward-moving channel. The index closed at 23,465, after making a new all-time high on Friday. On the other hand, Bank Nifty is still somewhere in the middle of its upward channel, giving a close at 50,002.

BJP falling short of majority by 32 seats, an uncertainty persists over who the ruling (NDA) alliance’s candidate will be. The Opposition INDIA bloc have demanded that the position goes to NDA allies including the Janata Dal (United) and the Telugu Desam Party (TDP). This has led to a difference in opinions within the saffron party-led coalition, as per a TOI report. In the 2024 Lok Sabha polls, the BJP secured 240 seats, falling short of a majority by 32 seats. However, with 16 seats won by N Chandrababu Naidu's TDP and 12 by Nitish Kumar's JD(U), these allies became crucial in forming the government at the Centre. Their support has been instrumental in paving the way for Prime Minister Narendra Modi's third term, earning them the title of kingmakers.

NEW DELHI : Private retail chains and online grocers such as D-Mart, Reliance Retail, BigBasket, Amazon and Flipkart must now declare the amount of pulses they stock twice a week, as the government tries to curb the sharp rise in their prices. The government recently directed millers, retailers, wholesalers, big retail chains, importers, processors and stockists across the country to disclose stocks every week. However, the norm has recently been changed to twice a week for big private retail chains.

Upcoming IPOs this week: Three mainboard initial public offerings (IPOs) — DEE Development Engineers IPO, Stanley Lifestyles IPO, and Akme Fintrade India IPO — will hit the Indian primary market this week. Out of these three upcoming IPOs, DEE Development Engineers IPO will be the first to hit the Indian primary market this week. DEE Development Engineers IPO will open on 19th June 2024, Stanley Lifestyles IPO subscription will open on 21st June 2024, and bidding for Akme Fintrade India IPO will begin on 19th June 2024.

India Today.He added, “We have a good bunch of players. We've to go home, chat and see where we lack, and then come back. Couldn't finish off close games, as a team we weren't good as a team," as quoted by ANI.He evaluated both his and the Pakistan team's performance across all aspects of the game, noting that they particularly struggled in the batting department."We finished well.

₹249 every month. The rest of the platform remains free for transactions. In 2023, Sebi introduced a circular asking RIA platforms with transaction-only clients to move to so-called execution-only platform (EOP) status.

Bikaji Foods International sells its products primarily through general trade, modern trade, and ecommerce platform, as well as exports. Over the years, the company has developed a large Pan-India distribution network.

Edited excerpts: Though the market is a bit volatile at this point, those who adopt a long-term perspective are likely to see good returns and achieve significant wealth creation for themselves and their families. Additionally, after analyzing the last eight elections since 1991, I have observed an interesting pattern: there's often a feverish speculation among investors about the election outcome. However, in the long term, the market stabilizes based on the financial performance of companies, macroeconomic factors, and turning points of sectors.

Nikhil Gupta, who is suspected by the US of involvement in an unsuccessful plot to kill Khalistani terrorist Gurpatwant Singh Pannun on American soil, has been extradited from the Czech Republic, media reports said on Sunday. Gupta, aged 52, was apprehended in the Czech Republic last year following a request from the US government. He faces charges related to a conspiracy to assassinate Sikh separatist leader Gurpatwant Singh Pannun. Gupta is scheduled to appear before a federal court in New York on Monday. Currently, Gupta is held at the federal Metropolitan Detention Centre in Brooklyn, where he is recorded as an inmate. His extradition was initially reported by The Washington Post

India Inc was less generous with dividends in FY24 than in previous 9 years amid an increase in capital expenditure with average capacity utilisation exceeding the long-term average. The dividend payout ratio was 34% in FY24, down from 43% in FY23 and 37% in FY22. Including buybacks, the payout was 38% in FY24 compared with 44% in FY23 or 41% in FY22. The dividend payout ratio is the proportion of a company's earnings paid to shareholders as dividends. This payout tends to be lower in times when companies spend more on expansion. Companies with a high cash flow in mature industries tend to have higher dividend payout ratios. About 1,300 companies paid ₹4.15 lakh crore in dividends in FY24, compared with their standalone net profit of ₹12.24 lakh crore. Additionally, 41 companies spent around ₹50,750 crore on share buybacks in FY24. The dividends paid in FY23 amounted to ₹4.44 lakh crore, while money spent on share buybacks was ₹21,500 crore.

NEW DELHI : Private investments are taking off, and household consumption, which has crossed pre-pandemic levels, is growing, unlike in many countries, according to Sanjiv Puri, president of the Confederation of Indian Industry (CII) and chairman and managing director of consumer goods conglomerate ITC Ltd. Puri added that with global trade expected to do much better in 2024-25, India’s consumption and growth story will get further impetus. Quoting data from the ministry of statistics, Puri said investments in fixed assets like plant and machinery in nominal terms was at 23.8% of gross domestic product (GDP) in 2022-23 compared to 22.4% in the pre-pandemic year of 2019-20.

₹3,360 crore. The money will be used to expand its hospitality businesses and other developing businesses.InterGlobe Enterprises said in an exchange filing on 11 June that “the proceeds will be utilised for scaling up IGE’s hospitality and other businesses it is incubating, as well as for general corporate purposes." On being asked how this money will be put back into the UK company, a spokesperson said this was the only statement it had on the sale of shares.

₹1.5 trillion, the asking P-E is 25.6," said Aditya Kondawar, partner, Complete Circle Capital, a wealth management firm. “The IPO will be critical for both investors and the company, since India is Hyundai’s third-largest revenue generator after the US and South Korea," Kondawar added. Hyundai Motor’s IPO, the largest in India after Life Insurance Corporation of India’s ₹20,000 crore-plus share sale in 2022, will be the country’s first automobile IPO in two decades.

Cold War II is worsening. The G7 summit held in Italy ended with a stiff warning aimed at China over its alleged role in “enabling" Russia’s war in Ukraine by means of dual-use tech transfers, a charge Beijing denied.

Every child’s first hero is likely to be their dad. As Australian poet Pam Brown rightly says, “Dads are most ordinary men turned by love into heroes, adventurers, storytellers, and singers of song." The acknowledgments are plenty whenever someone ruminates on the role of a father in their success. Of course, mothers are also darned good at doing all of this—keeping the fire of ambition going alongside the one at home, and may even outscore dads—but fathers do play a special role in shaping a person’s career.

MUMBAI : Foreign investors have closed out almost all of their bearish bets on index futures since the day of the election results, powering Nifty and Bank Nifty to historic closing highs. From holding the second-highest cumulative net short positions of 355,379 contracts on 4 June, they held just 24,415 short contracts on 14 June. The highest net shorts they held were 392,756 contracts on 22 March.

ixigo IPO: The listing date of the initial public offering (IPO) of 'ixigo' brand parent company Le Travenues Technology Limited, a pivotal moment for investors, has been set for 18th June 2024. This date, as per the information available on the Indian stock market exchanges, has been strategically chosen for the listing of ixigo IPO.

Tata Motors Ltd has laid out an aggressive road map for the next few years, aiming to jack up its market share on the back of new launches andsharper focus on electric vehicles (EVs), though more competition and margin pressure may throw a wrench in its plans. In the domestic passenger vehicles (PV) business, Tata Motors plans to launch 5-6 new models, including four EVs, over the next two years starting with Curvv in FY25. The management expects India’s PV industry to touch 6 million units by FY30, a compound annual growth rate (CAGR) of 6%.