Week Financial News

Maruti Suzuki and Kotak Mahindra Bank will trade ex-dividend, while Piramal Pharma's rights issue's ex-date is fixed this week. The ex-dividend date is when the price of the equity shares of a company gets adjusted for the dividend payout. It is one or two working days before the record date. All the shareholders whose names appear in the company's list by the end of the record date will be eligible to receive dividends.Brigade Enterprises (Rs 2/share), EIH Associated Hotels (Rs 5/share) Voltamp Transformers (Rs 60/share) and VRl Logistics (Rs 5/share) will trade ex-dividend on Monday 31st July. Whereas, DB Corp (Rs 3/share), Exide Industries (Rs 2/share), JK Cement (Rs 15/share), Rupa & Company (Rs 3/share), Sharda Cropchem (Rs 3/share) and SRF (Rs 3.6/share) will trade ex-dividend on Tuesday 1st August. On Wednesday 2nd August, Ador Welding (Rs 17.5/share), Bajaj Consumer Care (Rs 5/share), Crisil (Rs 8/share), Data Pattern (Rs 4.5/share), Hawkins Cookers (Rs 100/share), L&T (Rs 6/share), and Styrenix Performance Materials (Rs 24/share) will trade ex-dividend. Meanwhile, United Breweries (Rs 7.7/share), UPL (Rs 10/share), Bata India (Rs 13.5/share), Coforge (Rs 19/share), Honeywell Automation (Rs 95/share), Maruti Suzuki (Rs 90/share) and Usha Martin (Rs 2.5/share) will trade ex-dividend on 3rd August 2023. Also, Aditya Birla Sun Life AMC (Rs 5.25/share), Ajanta Pharma (Rs 25/share), Apar Industries (Rs 40/share), Kirloskar Industries (Rs 13.5/share), Berger Paints (Rs 3.2/share), BSE (Rs 12/share) and Kotak Mahindra Bank (Rs 1.5/share), Symphony, Timken India, and Kalyan Jewellers will trade ex-dividend on 4th August 2023.

The domestic stock market finished lower on Friday (July 28) due to selling in auto sector, financial services, and information technology sector companies. At the closing, the Nifty 50 was down 13.85 points at 19,646.05, and the Sensex was down 106.62 points at 66,160.2.

foreign portfolio investors triggered a sharp rally in Indian equities and took benchmark indices to all-time highs. However, the buying frenzy among the big bulls seems to be ebbing.FPIs net invested a mere Rs 468 crore in domestic markets during the week ended July 28, compared to Rs 7,804 crore in the preceding week.Benchmarks Sensex and Nifty 50 registered their first weekly loss after four consecutive gains, as investors booked partial profits. But on a monthly basis, inflows from FPIs were positive for the fourth consecutive month in July. They net invested over $4 billion in July, but this was lower than the over $6 billion inflows in June. Since March this year, FPIs have net invested nearly $19 billion in Indian equities, which is more than the $18 billion of outflows witnessed in the whole of 2022.

IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance. Dalal Street is gearing up for another busy week in the primary market as five main board and small and medium enterprises (SME) IPOs to hit the primary market this week.SBFC FinanceThe initial public offer (IPO) of non-banking lender SBFC Finance will open for public subscription on August 3 and closes on August 7. The allocation to anchor investors will be done on August 2. It has fixed price band at Rs 54-57 per share for the issue. The initial share sale comprises fresh issuance of equity shares worth Rs 600 crore and an Offer for Sale (OFS) of Rs 425 crore. The company had filed preliminary IPO papers with Sebi in November last year. Under the OFS, selling shareholders include Arpwood Partners Investment Advisors who will offload equity worth Rs 306 crore, Arpwood Capital, Eight45 Services will sell up to Rs 75 and Rs 43 crore, respectively. The proceeds from the fresh issuance worth Rs 600 crore will be used to boost its capital base to meet future capital requirements.

H-1B visas each year. In March 2023, USCIS conducted the initial random selection process on properly submitted electronic registrations for the FY 2024 H-1B cap. That way, only around 70% of the authorised quota had been issued, leaving a significant number of available visas.

The week ahead is also expected to be a busy one for Dalal Street investors, as a slew of companies are scheduled to release quarterly earnings. This is likely to keep action extremely stock-centric. Moreover, foreign investors have slowed down their pace of buying. While the overall trajectory for markets remains positive, consolidation is likely on cards after the strong rally in the recent months. “In the coming days, domestic earnings will remain a crucial driver, while global cues will also play a vital role in shaping market trends,” said Vinod Nair, head of research, Geojit Financial Services.

Heavyweight HDFC Bank ended as the top drag on Sensex, followed by Infosys, TCS and Axis Bank. However, mid and smallcaps outperformed the benchmark index. The BSE Midcap index closed 0.55 per cent higher at 30,159.82 after hitting its record high of 30,178.22.

Exide Industries, JK Lakshmi Cement, United Breweries, among many others will trade ex-dividend in the coming week, starting from Monday, August 31. Also, shares of Kamdhenu Ventures and NINTech Systems will trade ex bonus next week, according to data on stock exchanges.

IPOs Next Week: The primary market witnessed some major listings in both main board and SME IPOs this month, which kept investors engaged with subscriptions and listings. Moving on, the upcoming week sees the start of the new month, which is similarly packed with new listings and IPO issues, that are available for subscription. Let's take a look at some of the companies that are opening for subscription this week, along with few that are getting listed on the bourses.

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Byju's key investors Peak XV Partners (formerly Sequoia Capital India) and Prosus flagged corporate governance issues at the Byju Raveendran-founded firm. In fact, we had an exclusive story on how Peak XV sent a communication to its limited partners (sponsors in the fund) saying it’ll be significantly writing down the value of its investment in Byju’s.

Buy or sell stocks: After being pulled down by weak global market sentiments, Indian stock market ended lower for second straight session. NSE Nifty finished 13 points lower at 19,646 levels, BSE Sensex shed 106 points and closed at 66,160 mark while Bank Nifty index nosedived 211 points and ended at 45,468 levels. However, broad market indices outperformed key benchmark indices as small-ca index surged 0.49 per cent whereas mid-cap index went up 0.55 per cent.

Tata Power, LIC Housing Finance and NCC are 3 stock ideas from Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities. Keeping a watchful eye on price action and employing appropriate risk management strategies is essential to navigate through such periods of uncertainty in the market, he said.

During the week, as many as 60 smallcap stocks have delivered double digit weekly returns with seven of them offering over 25% returns.Thangamayil Jewellery was the top gainer in the smallcap pack with over 50% return, followed by MSP Steel and Power (48.95%), Foseco India (29.07%), and Indo Borax (28.8%). About six stocks including Jai Balaji, Mukand, Jagsonpal, Vesuvius India, Gallantt Ispat, Texmaco Rail have offered returns between 20-25% during the week. In the midcap segment, about 10 stocks including REC, GMR Airports, Ajanta Pharma among others have risen in double digits.

gold closed with a loss of $1 at $1959.20 in an eventful week. Gold got some boost from the peak rate narrative as both the European Central Bank and the US Federal Reserve made it clear that they would adopt a data-dependent approach in deciding their monetary policies going forward. However, the much anticipated Federal Reserve pause is still elusive.

bond yields jumped to a three-week high Friday, pushing up borrowing costs in the broader economy, as concerns over US interest rates remaining at elevated levels and apprehensions over hardening domestic price pressures soured the view on sovereign debt. Yield on the 10-year benchmark bond settled at 7.16% on Friday, four basis points higher than its previous close and the highest closing level since July 7, Bloomberg data showed. Bond prices and yields move inversely.

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

Investing.com — Non-stop chanting about Saudi output cuts; forecast-beating U.S. economic growth and fewer Americans filing unemployment claims despite moderating jobs growth — oil has little reason not to rally.

small investors turned net sellers in the June quarter despite a market rally of 14%.

Indian government bond yields tracked a spike in U.S. peers on Friday, with the benchmark bond yield posting its biggest single-session rise in nearly a month as the government's debt auction added to fresh supply. The benchmark 7.26% 2033 bond yield ended at 7.1614%, compared to its previous close of 7.1227%.

Earnings season is in full swing, and next week, we've got our sights set on the healthcare sector, specifically pharmaceutical and biotechnology companies, as they get ready to reveal their quarterly results.