Companies and Markets

Companies & Markets

Market to remain in cautious mood

The market witnessed a highly volatile session of trade, with benchmark indices ending in the negative territory. The Sensex was down 174.95 points, or 0.53 per cent, to settle at 33,053.04, while the Nifty 50 lost 47.20 points, or 0.46 per cent to close at 10,192.95. Among the sectors, realty and metal stocks were in the red and blue-chip shares like L&T, Infosys and State Bank dragged the index down.

Outlook for today

Small, mid-cap stocks record best returns in ’17

The best stock market performance in 2017 has come from small-cap and mid-cap stocks and the rally in these scrips is likely to continue in 2018.

The top 25 small-cap stocks from the BSE small-cap index list have given year-to-date (YTD) return in the range of 225 per cent to 1,100 per cent in 2017, according to a study of Capitaline data. The significance of such high returns is only compounded when compared to 25 per cent return recorded by benchmark indices BSE Sensex and NSE Nifty 50 during the same period.

New high: 122 IPOs raised Rs 70K cr in 2017

Fund raising through new offerings has hit an all-time high of Rs 70,000 crore so far this year. The staggering amount was mobilised through 122 initial public offers (IPOs), making it one of the best years for the primary market. This has also helped the market cap to GDP ratio touch a seven-year high of 85 per cent.

Companies from 18 different industries raise

Airtel to sell 20% stake in DTH arm to Warburg Pincus

Bharti Airtel, India's largest listed telecom service provider on Tuesday, announced that Warburg Pincus, a global private equity firm, plans to acquire up to 20 per cent equity stake in Bharti Telemedia Ltd, the DTH arm of Airtel, for around $350 million.

Immediate hurdle seen at 10,300-10,350

After three days of gains, the market witnessed profit-booking with the key indices ending lower. The Sensex fell 227.80 points, or 0.68 per cent to close at 33,227, while the Nifty plunged 82.10 points, or 0.80 per cent, to settle at 10,240.15. Both the indices were in negative through the trading session as heavyweights like ITC, HDFC Bank and Coal India traded lower.

Rising crude oil takes fizz out of equities

The Sensex snapped three days of gains on Tuesday as crude oil rebounded above $65 per barrel--the first time since June 2015--on caution over tightening market supply as a major pipeline in the UK's North Sea may be shut for repairs.

Further, India's volatility index rose to 10-month high, up 8 per cent at 15, on account of a fall in Indian shares.

Rs 10K crore tax demand on IT firms set aside

In a major relief to IT companies, the tax department has set aside a Rs 10,000 crore service tax demand notices on dozens of companies.

The department had slapped the service tax demand notices on about 200 IT and IT-enabled services (ITeS) companies in the country. It had asked them to return export benefits claimed between 2012 and 2016 on software provided to clients outside India.

RJio may be listed by early 2019

Reliance Industries, the promoters of Reliance Jio, is mulling listing in late 2018 or early 2019 of the company that has disrupted the telecom market and led to large-scale consolidation in the industry.

RJio is in a sweet spot for the initial public offering given the market share it has gained and profitability that it has started showing since the last quarter, feel brokers and analysts.

The telecom arm of RIL claimed to have a market share of 12.39 per cent in October and around 14.59 crore 4G subscribers.

Title insurance covers on the cards

With the Central Real Estate Regulation and Development Act (RERA) mandating builders/developers to buy title insurance covers for their projects, a host of insurance companies are sensing a big business opportunity in this untouched segment. Several top non-life insurance companies including New India Assurance, ICICI Lombard general insurance, SBI General Insurance told FC that they would be filing title insurance covers with the insurance regulator soon.