Daily Market Analysis – 18th June 2021 (Insurance)
Religare plans ₹2,000cr IPO for Care Health Insurance Religare Enterprises is considering an initial public offer (IPO) of up to ₹2,000 crores for its health insurance subsidiary Care Health Insurance, where it plans to issue fresh shares, market insiders said. Management of REL is in discussions with investment banks for the proposed listing of the shares of Care Health and the IPO may...
Daily Market Analysis – 17th June 2021 (Dividend)
1. The government has mopped up 26,104.37 crores as dividend from 23 listed PSUs in FY21 so far, a 123.63% increase over the previous fiscal year, bringing welcome relief to a treasury that has taken a massive hit from two waves of the coronavirus pandemic. Bharat Petroleum Corp. Ltd (BPCL) leads the largest dividend-paying companies for the fiscal year 2021 with a dividend of ₹8,759.71...
Daily Market Analysis – 16th June 2021 (Company)
Sona Comstar’s ₹5,550 crore IPO subscribed 27% on day 2. At a price band of ₹285-291, the IPO of the company is roughly valued at 76 times one-year forward earnings, making it one of the most expensive issues to hit the primary market in recent times. Analysts said Sona BLW is a play on the electric vehicle theme. They said while the IPO valuation appears rich but the auto component maker is...
Daily Market Analysis – 14th June 2021 (Adani)
The infrastructure push in the country has been gaining momentum steadily. Last week Reliance Infra raised up to Rs.550 crore by preferential allotment of shares to reduce debt and fund future growth. Adani group has incorporated a new wholly-owned subsidiary Adani Cement Industries increasing the competitiveness in the booming cement sector which is expected to do well in the coming years....
Daily Market Analysis – 11th June 2021 (Tata)
Tata Digital is set to acquire majority stake in e-pharmacy 1MG This investment is in line with Tata group’s vision of creating a digital ecosystem that specifically addresses consumer needs across various categories. This is the second major investment of the company in an Indian startup. Recently they announced a $75 million investment in fitness startup Curefit and the current deal is a...
Daily Market Analysis – 10th June 2021 (Adani)
Adani Group plans launch IPO and hive off it’s airport business The Adani Group has begun preliminary talks to separate its airport business from the holding entity Adani Enterprises Ltd. It is expected to raise $500 million through a private placement of shares in Adani Airports Holdings. Adani controls Mumbai airport, India’s second busiest, as well as six regional facilities –...
Daily Market Analysis – 9th June 2021 (ICICI)
Axis MF added most folios in FY21; followed by ICICI, whereas HDFC loses client base The Axis Mutual Fund beat the top three mutual funds in the industry to record its largest addition to new folios in FY-21. It added 20,42,150 new folios in FY-21 whereas ICICI added 20,42,016 new folios. In this, ICICI remained the winner in the top three which include HDFC Mutual fund & SBI Mutual...
Daily Market Analysis – 8th June 2021 (Mutual Funds)
Franklin Templeton AMC slapped with a fine of 5 crore; Banned from launching new debt mutual funds The SEBI has banned Franklin Templeton AMC from launching debt schemes for the next two years. Rs 5 crore penalty has been levied for “several irregularities” in the running of its six debt schemes that were wound up in April 2020. The irregularities extend to failures to exercise adequate...
Daily Market Analysis – 4th June 2021 (Flipkart)
3 Years after exit, SoftBank looking to reinvest in Flipkart SoftBank Vision Fund has held discussions with Flipkart to invest around $600-700 million, three years after the Japanese group exited the Indian online retailer by selling shares to Walmart Inc. This would mean that Flipkart will stay on as a private company for longer than what was being earlier talked about going Public early...
