Connect with us
हिंदी اردو
Wednesday,22-January-2025
Breaking News

Business

Market volatility to continue with some initial surge in markets

Published

3 years ago

on

The week began with a bang with new closing highs recorded on both the BSESENSEX and NIFTY on the very first trading day of the week. Alas! The good news ended there and markets fell on each of the remaining four days to end with losses for the week. BSESENSEX lost 1,282.69 points or 2.14 per cent to close at 58,765.78 points while NIFTY lost 321.15 points or 1.80 per cent to close at 17,532.05 points. The broader indices saw BSE100, BSE200 and BSE500 lose 1.65 per cent, 1.38 per cent and 1.19 per cent, respectively. BSEMIDCAP gained 0.12 per cent, while BSESMALLCAP gained 0.69 per cent. The closing high recorded during the week was 60,077.88 made on September 27 while the intraday high made was in the previous week at, 60,412.32 points, also made the same day. On NIFTY, the closing high made on the same day was 17,855.10 points while the intra-day high made was on the previous September 24at 17,947.65 points.

The Indian Rupee lost 42 paisa or 0.57 per cent to close at Rs 74.12 to the US Dollar. Dow Jones lost 471.54 points or 1.36 per cent to close at 34,326.46 points. A large part of the losses was reversed on Friday when Dow Jones gained 482 points. Had that not happened, loses would have been close to 950 points.

September series expired on the last trading day of the month at 17,618.15 points, a gain of 981.25 points or 5.90 per cent for the month. Markets were under pressure this week and surrendered quite a bit and gave in to the bears.

The opening day of October series began on a weak note and continued with the prevailing weakness of the previous three days. NIFTY on the first day of the series lost 86.10 points and began on a weak note. The last time we saw such a trend was in the May 21 series which began on a weak note, losing 263 points on the opening day, April 30. The May series ended with gains of 442.95 points or 2.97 per cent. Using this as empirical evidence would suggest that though we began the first day of a new series on a weak note, we would in all probability end with gains for the series.

During the week we saw, bids for Air India being opened, and in all probability, it appears that the wheel has come a full circle. Air India which was nationalised way back in 1952-53, It is likely to be again owned and operated by the house of Tatas. While full details of the same are yet awaited, Tatas with their interest in newly acquired Air India which includes Air India, erstwhile Alliance Air, Air India Express and Indian Airlines along with their existing JV’s with Vistara and Air Asia would become a key and dominant player in aviation in India going forward.

In primary market news, the issue from Aditya Birla Sun Life AMC Limited closed for subscription and was subscribed 5.25 times. QIB portion was subscribed 10.36 times, HNI portion 4.39 times, Retail portion was subscribed 3.24 times and Shareholder preferential quota was subscribed 1.68 times. There were 15.66 lac applications.

On the side-lines of this issue, Standard Life sold 1.06 cr shares of HDFC AMC while this issue was on and garnered close to Rs 3,000 cr. The size of their sale was more than the amount raised by Aditya Birla AMC through their issue.

Shares of Paras Defence and Space Technologies Limited which is the highest response receiving issue since 2007, debuted on the bourses on Friday and had a lift-off on day one. Shares which were issued at Rs 175 closed at the upper circuit of Rs 498.75 on BSE, a gain of Rs 323.75 or 185 per cent. It’s a great start and the last time one saw anything near this kind of gains was in the case of IRCTC in October 2019.

Reserve Bank of India meets for its bi-monthly monetary policy review between Wednesday to Friday with the announcement on Friday. There maybe a minor hardening of repo rates

to reduce the excess liquidity in the system, but the expectation is not necessarily a consensus view. Barring this, the consensus is rates are expected to remain status-quo.

Calendar year 2021 has been the year of the primary markets but with one major difference. This year 75 per cent of the funds raised or more have been in the form of divestment by mainly the PE players and some portion of this by promoters. Growth capital or capital infusion into the company has been less than a fourth of the funds raised. PE investors invest money into a company through SPV’s where the name of the entity is different in each company where they invest and it is difficult for an investor to understand who is behind the company. In such a scenario like in the case of merchant bankers who give a track record of three years of their performance in new issues, a similar exercise should be mandated by SEBI for PE investors. This will help in a big way to make investors smarter and benefit in their understanding of value and valuations of a company. This will also give an idea in which PE Investor’s divestment is something left on the table.

On the covid-19 front, the world saw 23,54,35,786 patients, 48,11868 deaths and 21,22,44,299 patients who had recovered. In India we saw 3,38,13,903 patients, 4,48,846 deaths and 3,30,94,529 patients who had recovered. Compared to the previous week, the world saw 21,42,991 new patients, 54,291 deaths and 33,36,047 patients who had recovered. In India we saw 1,61,158 new patients, 1,898 deaths and 1,92,178 patients who had recovered. In terms of vaccinations, 88.94 cr vaccinations have been administered. This number includes the first and second vaccination combined.

Coming to markets in the week ahead, there should be some upward movement in the early part of the week on the back of sharp correction witnessed during the last week. This is also on account of the weakness in global markets led by Dow and the disturbing news coming from China on many fronts. The sharp rally witnessed on Dow on Friday should influence market opening on Monday but may not be enough for the rest of the week.

Considering the vulnerability and extreme volatility witnessed last week, it makes sense to continue the strategy of buy on sharp dips and sell on strong rallies. Keep some amount of money in cash as opportunities are available as was the case last week. Secondly with results reporting season beginning there would be higher stock specific action visible from next week onwards. On the back of results from the leaders, one would get a fair idea of how the sector is behaving. Use this analysis to play the markets.

Trade cautiously and curb temptation.

(Arun Kejriwal is the founder of Kejriwal Research and Investment Services. The views expressed are personal)

Post Views: 58
Related Tags:

Business

Bharat Mobility Global Expo 2025: Toyota & Lexus Unveil Future Projects In Indian Portfolio; Images Below

Published

5 hours ago

on

January 22, 2025

By

New Delhi: Japanese car maker Toyota and it’s luxury arm, Lexus have showcased some of their future models from their respective India portfolios at the Bharat Mobility Global Expo 2025. Toyota’s standout concepts include the X-Van, bZ4X, and Urban EV, while Lexus has captivated audiences with the ROV Concept 2 and LF-ZC.

Toyota’s star studded lineup

Moreover, Toyota showcased some of its updated and facelifted models during the autoshow. The Japanese car maker features included the Prius Flexi-Fuel PHEV, the Hilux FCEV, and a detailed cross-section of the Innova Hycross hybrid. Additional highlights include the striking Hilux Black Edition and the Land Cruiser 300 GR Sports, adding excitement to the brand’s lineup.

Toyota X-Van (Concept)

The X-Van, envisioned as a futuristic MPV, is designed to redefine spaciousness and versatility to meet diverse customer needs. This boxy, three-row utility vehicle eliminates the B-pillar, resulting in an expansive glasshouse and flexible seating configurations, available in 1-3-2 or 2-2-2 layouts. It features sliding suicide doors, a three-pane sunroof, and robust plastic cladding on the lower sections, adding a rugged and bold aesthetic to its innovative design.

Toyota BZ4X

The bZ4X electric SUV concept, first unveiled in 2021, is built on the e-TNGA architecture developed with Subaru. Its design features sharp styling, chunky black wheel-arch trim, a contrasting roof, and a silhouette influenced by the popular RAV4 SUV. The front showcases Toyota’s ‘Hammerhead’ design language, reminiscent of the latest Camry sold in India.

In global markets, the production-spec bZ4X comes with a 71.4kWh battery, offering a WLTP range of 450km. It’s available in two variants: a single-motor version (204hp, 265Nm) and a twin-motor AWD version (218hp, 336Nm).

Lexus LF-ZC (Concept)

The Lexus LF-ZC concept offers a glimpse into the premium electric sedan slated for international launch next year. Designed with a modular structure, its centrally placed batteries free up space for versatile front and rear configurations, supporting both single- and dual-motor setups. Lexus claims the top-spec LF-ZC will deliver a range exceeding 1,000km upon production.

The concept features Lexus’s latest design language, emphasizing sharp, aerodynamic styling. Inside, it boasts a futuristic cockpit with a steering yoke incorporating steer-by-wire technology and digital control pads seamlessly integrated across the cabin.

Post Views: 48,821
Continue Reading

Business

Maha govt signs 31 MoUs for investment proposals worth Rs 6,25,457 crore at Davos

Published

10 hours ago

on

January 22, 2025

By

Mumbai, Jan 22: The Maharashtra government has signed a record 31 MoUs with investment proposals worth Rs 6,25,457 crore in the field of steel, metals, renewable energy, infrastructure, cement, Lithium-Ion Batteries and Solar Modules on the sidelines of World Economic Forum summit at Davos.

The MoUs were signed on Tuesday in the presence of Chief Minister Devendra Fadnavis and senior government officers.

CM Fadnavis said, “The MoU signed today paves the way for Maharashtra’s comprehensive growth and development.” He further stated that this marks a new record for securing such a significant investment amount in a single day. Similarly, several investment agreements are expected on the second day as well.

Of the Rs 6,25,457 crore, JSW will invest a record Rs 3 lakh crore for Maharashtra’s Green Transformation and Tata Group will also make an investment of Rs 30,000 crore in multiple sectors.

The Chief Minister met with key executives of several companies and invited them to invest in Maharashtra. Among these, Tata Group Chairman N. Chandrasekaran held discussions with CM Fadnavis during which it was confirmed that the Group would invest Rs 30,000 crore in the state. The CM also met Carlsberg Group CEO Jacob Aarup-Andersen, who expressed interest in investing in Maharashtra.

The Chief Minister assured him of full cooperation for the group’s plans. Additionally, M.A. Yusuff Ali, Managing Director of the Lulu Group, conveyed interest in investing in Nagpur and expanding operations in Maharashtra.

CM Fadnavis held discussions with ReNew Power Chairman and CEO Sumant Sinha about a 15,000 MW pipeline and wind energy projects in the Beed district. Schneider Electric India’s Managing Director and CEO Deepak Sharma also met the Chief Minister. Discussions included the use of AI in the energy sector and strengthening ITIs in the state with assistance from the World Bank. Expansion plans in Ahilyanagar and Nashik were also hinted at. Mastercard APAC President Ling Hai held talks with CM Fadnavis, while Louis Dreyfus Company CEO Michael Gelchie discussed opportunities in agriculture, food processing, international shipping, and financial sectors. Emphasis was placed on enhancing collaboration in agriculture. The CM also met Cognizant CEO Ravi Kumar S. and discussed potential investments and opportunities.

“The series of meetings highlighted Maharashtra’s focus on attracting substantial global investments and fostering economic development,” said the Chief Minister’s Office in a release.

CM Fadnavis in his post on X said, “Extremely happy to witness the historic Rs 3,00,000 crore MoU signing between Govt of Maharashtra & JSW Group, with an employment generation of 10,000 in the regions of Chhatrapati Sambhajinagar, Gadchiroli, and Nagpur. Very much thankful to Sajjan Jindal ji for being a part of this historic moment at Davos, which will give a huge boost to Maharashtra’s industrial environment. It will give a big boost to Maharashtra’s industrial environment. The areas of this investment like Renewable Energy, Infrastructure, Cement, Lithium-Ion Batteries, and Solar Modules will play a huge role in our mission ‘Green Maharashtra.”

The government signed an MoU with Waaree Energy with a total investment of Rs 30,000 crore in green energy and solar components. it will create 7,500 jobs. The company chairman Hitesh Joshi was present.

The government inked an MoU with Blackstone-Panchshil Realty for an investment of Rs 25,000 crore for the development of the data centre. It will generate 500 jobs. Further, Blackstone will invest Rs 25,000 crore in Information Technology in the Mumbai Metropolitan Region. It will create 1,000 jobs.

The government inked an MoU with Erulearning Solutions for an investment worth Rs 20,000 crore in education. The government signed an MoU with ZR2 Group for investment worth Rs 17,500 crore in automobiles and EVs in Pune region to generate 4,000 jobs.

The state government and Balasore Alloys Ltd signed an MoU for investment of Rs 17,000 crore in steel and metals. The venture will generate 3,200 jobs. The company was represented by Satish Kaushik at the time of the signing of the MoU.

The state government and Reliance Infrastructure Ltd signed an MoU for investment worth Rs 16,500 crore in the defence sector. It will generate 2,450 jobs. The company was represented by Sateesh Seth.

Powerin Urjaa will invest Rs 15,299 crore in green energy and generate 4,000 jobs. Open Origin India Inc will invest Rs 15,000 crore in green energy to create 1,000 jobs.

Viraj Profiles Pvt Ltd and the state government inked an MoU for the investment of Rs 12,000 crore in steel and metals to generate 3,500 jobs. Neeraj Raja Kochhar, Chairman and MD of Viraj Profiles was present at the time of the signing of the MoU.

Avani Power Batteries will make investment of Rs 10,521 crore in electronics to generate 5,000 jobs in Chhatrapati Sambhajinagar. H2e Power will invest 10,750 crore in green energy to create 1,850 jobs in Pune region.

The government signed an MoU with Rural Enhancers for investment worth Rs 10,000 crore in social sectors including hospitals.

The government inked an MoU with Welspun for an investment worth Rs 8,500 crore in logistics to generate 17,300 jobs.

Essar in partnership with Blue Energy will invest Rs 8,000 crore in green energy to create 2,000 jobs.

Further, United Phosphorus will make an investment of Rs 6,500 crore in green energy to generate 3,000 jobs. The government signed an MoU with Olectra EV for investment worth Rs 3,000 crore in automotive and EV to generate 3,000 jobs.

Kalyani Group will invest Rs 5,250 crore in defence, steel and EV. It will create 4,000 jobs. The MoU was signed in the presence of CM Fadnavis and Vice-Chairman & Joint MD of Bharat Forge Limited Amit Kalyani. “Thank you Amit Kalyani for joining this MoU signing at Davos! This investment is special because it is coming to Gadchiroli, which will give better lives to so many,” said the chief minister.

Gensol will invest Ra 4,000 crore in electronics in Chhatrapati Sambhajinagar to create 500 jobs. The government inked an MoU with & El Mont for the investment of Rs 2,000 crore in infrastructure. It will generate 5,000 jobs. The company director Kabir Bhandari was present.

BookMyShow will invest Rs 1,700 crore in the entertainment sector to generate 500 jobs. Further, the government signed an MoU with Tembo for an investment worth Rs 1,000 crore in the defence sector. It will create 300 jobs. The company director Shabbir Merchant was present on the occasion.

The government also inked an MoU with AB InBev in the F&B segment for investment worth Rs 750 crore. Kartikeya Sharma, President, India & South East Asia of AB InBev was present on the occasion.

Moreover, the government inked an MoU with CEAT Limited for investment worth Rs 500 crore in automotive and EC to generate 500 jobs.

Bisleri International will invest Rs 250 crore in food and beverages in the Mumbai Metropolitan Region to create 600 jobs. The MoU signed paves the way for Maharashtra’s comprehensive growth and development.

Post Views: 48,862
Continue Reading

Business

India sees surge in deal activity at record $116 billion in 2024

Published

1 day ago

on

January 21, 2025

By

New Delhi, Jan 21: India’s deal-making landscape witnessed a landmark year in 2024, with a record 2,186 deals valued at $116 billion, marking a 33 per cent increase in volumes and 76 per cent surge in values (year-over-year), a report showed on Tuesday.

Driven by India’s status as the fastest-growing G20 economy, with a 7 per cent growth rate driven by robust domestic demand, the country’s deal-making activity reached new heights, defying global economic uncertainty, and demonstrating the resilience of its economy, according to the Grant Thornton Bharat ‘Annual Dealtracker 2024’.

“As we look ahead to 2025, we are optimistic about the prospects for continued robust deal activity, fuelled by government reforms, a stable economy, and a thriving tech ecosystem, making India an attractive destination for investors despite global uncertainties,” said Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat.

The mergers and acquisition landscape witnessed a record-breaking year, with 683 deals valued at $44.1 billion, marking a 37 per cent increase in volumes and a 75 per cent surge in values compared to the previous year.

Domestic consolidation drove growth, with 479 deals amounting to $23.5 billion, a 64 per cent increase in values, led by Indian conglomerates such as Adani Group, Aditya Birla Group and Nazara Technologies.

Outbound M&A also witnessed significant growth, with 121 deals valuing $16.9 billion, driven by two billion-dollar deals, according to the report.

The private equity landscape demonstrated resilience in 2024, with 1,298 deals raising $31 billion, up from 1,046 deals valuing $27.4 billion in 2023.

The year witnessed a 26 per cent rise in high-value deals (estimated at and over $100 million) and two billion-dollar deals.

The initial public offerings (IPO) activity reached unprecedented heights in 2024, defying global economic headwinds, with 86 listings raising a record $21 billion, more than triple the $6.2 billion raised in 2023, said the report.

Post Views: 48,897
Continue Reading
Advertisement
Advertisement

Trending