IPO debutants strike rich; 25 out of 37 firms give double-digit returns

The IPO market has rewarded investors in a big way. Companies that made their debut in the market in 2017 have offered gains ranging from 25-370 per cent.

Out of the 37 IPOs that have hit the market in 2017, 25 have given double-digit returns while 12 have ended in the red.

Topping the IPO return chart for this year is Apex Frozen Foods with a gain of 377 per cent from its offer price followed by Shankara Building Products  (295 per cent) and Avenue Supermart (285 per cent).

Bond yields continue to rise

The Indian 10-year bond yields have been rising for the past five months, driven by strong supply, but weaker demand as rising crude oil prices pose risk to inflation and fiscal dynamics.

Mahindra picks stake in Bayside Sports

Mahindra Group chairman Anand Mahindra has picked a 16.7 per cent equity in Bayside Sports, a city-based multi-sports academy and sports event provider.

The company said Mahindra made the investment in his personal capacity through his family office.

Bayside Sports was founded by childhood friends Vishal Gokani and Kyan Bharucha in January 2013 with the objective of helping people and families bond over sports with just three students at a single location in south Mumbai.

E-comm market may cross $50b in 2018

The digital commerce market in the country is expected to cross $50 billion in value by the end of 2018 from the current level of $38.5 billion, on the back of a growing internet population and increased online shoppers, says a recent study. The digital commerce market in India has grown steadily from $19.7 billion in 2015 to $13.6 billion in 2014, as per a joint study conducted by Assocham and Deloitte.

1,110 more FPIs register with Sebi, indicates rising interest in capital market

Foreign investors’ interest in In­dian markets continues. Over 1,100 fresh foreign portfolio investors (FPIs) were registered with market regulator Securities and Exchange Board of India (Sebi) in 2017-18, revealing their continued interest in the Indian capital market.

The number of FPIs with the market regulator climbed to 8,871 at the end of November from 7,807 at March-end, resulting in an addition of 1,100, Sebi data reveals. This comes close to 3,500 new FPIs registering with Sebi in the past fiscal.

Staying bullish

Even as recovery is underway, risks to inflation, current account and fiscal dynamics, in the midst of rising oil prices will impact the rupee which could depreciate to 68 levels in 2018. The rupee traded on a strong note this year, appreciating by 5.3 per cent.

The central bank has purchased $17.1 billion in the first seven months of the year to rein in the volatility compared to $ 10.3 billion during the same period of last year. On January 2, 2017 the rupee was at 68.22 while on December 22, it closed at 64.04 levels.

Foreign fund inflows to be robust in 2018; Rs 2 lakh crore came in 2017

Foreign fund inflows into the Indian markets are expected to be robust in the coming year, with some moderation after the spectacular inflows in 2017.

Foreign funds have pumped in close to Rs 2 lakh crore in 2017 with Rs 53,800 crore into equities and another Rs 1.46 lakh crore into debt markets.

According to analysts, inflows into India may continue in the New Year, especially after the upgrade by Moody’s, even though globally the outlook is not that rosy.

HDFC M-cap of Rs 8.52 L cr is 2nd only to Tatas

HDFC Group's current market capitalisation of Rs 8.52 lakh crore is the second largest among the Indian business houses after Tata Group's Rs 9.43 lakh crore as on December 22, 2017. Chances are high that HDFC Group may soar ahead of Tata Group in the near future.

HDFC Group is likely to list its mutual fund subsidiary (HDFC Asset Management), general insurance subsidiary (HDFC Ergo General Insurance) and education loan subsidiary (Credila) among its several unlisted subsidiaries which will add to their market cap going forward.

Shilpa Shetty apologises for using casteist term

Shilpa Shetty has apologised for allegedly using a casteist term in a recent interview, saying her words had been misconstrued and it was not her intention to hurt anyone's feelings.The Mumbai Police yesterday said they were looking into a complaint, seeking the filing of an offence against Shetty and Salman Khan for allegedly using a casteist phrase. The 42-year-old actor issued an apology on Twitter.

Insurance for insolvency professionals next month

The country’s largest general insurer, New India Assurance, will launch an insurance cover for insolvency professionals (IP) next month. Several private non-life insurance companies are also working on launching indemnity policy for IPs.