Overseas investors are identifying opportunities in India's industrials, healthcare, and telecommunications sectors, despite record outflows from local shares exceeding $2 billion last month. This shift comes as global funds retreat from banks, consumer, and energy sectors, reflecting a broader trend towards investment-led growth. The recent $3.3 billion IPO of Hyundai Motor India highlights the potential in specific areas, even as overall market momentum slows.
Australia's Prime Minister Anthony Albanese is shifting into election mode, aiming to regain voter trust in his government's ability to address rising living costs, especially in housing. This comes after a significant legislative push to clear the way for future initiatives.
Enviro Infra Engineers shares made a strong debut on November 29, opening at Rs 218 on the BSE, a 47.29% premium over the IPO price, while the NSE saw an opening at Rs 220, reflecting a 48.65% premium. The company's Rs 650-crore IPO was highly successful, with a subscription rate of 89.90 times during its three-day bidding period.
Allied Blenders & Distillers shares surged 5% to Rs 339 after ICICI Securities initiated coverage with a 'buy' rating, projecting a 24% upside to Rs 400. Despite a recent decline, analysts highlight the company's focus on premium segments and expect double-digit growth in the Prestige & Above category.
Stress is mounting on microlenders, with Q2 marking the second consecutive quarter of disappointing earnings. Following the RBI's crackdown on unsecured lending growth, signs of strain are becoming evident in microlenders' financials, highlighting the impact of regulatory measures introduced in 2022.
On November 29, the Sensex surged over 400 points, while the Nifty reclaimed 24,000, driven by strong gains in pharma and energy stocks. This rebound follows a significant decline the previous day, as markets adjust to expectations of a slower pace of rate cuts amid persistent inflation concerns. By 9:45 am, the Sensex rose 407.27 points to 79,451.01, and the Nifty increased by 129.50 points to 24,043.70, with 1,793 shares advancing against 1,041 declining.
Japanese banks, including Mizuho Financial Group, Sumitomo Mitsui Financial Group, and Mitsubishi UFJ Financial Group, are maintaining their support for Gautam Adani despite recent US bribery charges against him. These institutions believe the situation will not have a lasting impact and are open to future financing opportunities. In contrast, global firms like Barclays are reassessing their ties to the Adani Group, which has denied the allegations and is actively engaging with lenders to clarify its position.
The Reserve Bank of India (RBI) will hold its Monetary Policy Committee meeting on December 6, with expectations that the repo rate will remain at 6.5%. Home loan interest rates and EMIs will stay unchanged if the status quo is maintained. Additionally, Axis Bank is introducing a redemption fee for EDGE Rewards and revising credit card charges, while AU Small Finance Bank is updating its reward point policy for the Ixigo AU credit card, prompting cardholders to review the new terms.
In India’s evolving financial landscape, Share.Market, a PhonePe initiative, is transforming retail trading by introducing Sheets, a feature designed to empower traders with actionable market insights. This innovation allows users to analyze vast financial data swiftly, enabling informed decision-making and leveling the playing field for all investors. As the number of demat accounts skyrockets, Share.Market is at the forefront of this retail investment revolution.
Delivery Hero SE has priced the initial public offering of its Middle Eastern unit, Talabat Holding, at AED 1.60 ($0.44) per share, marking it as the largest listing in the United Arab Emirates for the year. The pricing was set at the top of the anticipated range, reflecting strong investor interest.
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