Markets headed for new highs by Diwali, says Nischal Maheshwari; calls every dip a buying opportunity
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Time of India
16 minutes ago
- Time of India
From LG to NSDL: India IPO market gears up for $2.4 billion in offerings in July as confidence rebounds
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Indian firms could raise some $2.4 billion through IPOs in July, investment bankers said, raising hopes of a sustained revival in primary offerings after demand was dented by the U.S. trade war and global geopolitical tensions earlier this amount would mark the strongest month since December and would follow a robust $2 billion raised in June, though most of that was raised by one company, HDB Financial loan provider Credila Financial Services, National Securities Depository Ltd (NSDL), surveillance firm Aditya Infotech and power-transmission-goods maker M&B Engineering are conducting roadshows and are expected to go public this month, bankers spoke on condition of anonymity as the companies have yet to make the timing of their IPOs and other details public. The companies did not respond to Reuters requests for IPO market had its best-ever year in 2024, with $20.5 billion raised, second only to the U.S., riding high on money inflows from domestic investors who have become wealthier on growth in the world's fifth-largest economy and were optimistic about more economic year was widely expected to be another record year but U.S. President Donald Trump's trade war, tensions with Pakistan and in the Middle East took much wind out of those IPO sails. South Korean conglomerate LG Electronics' India unit and other companies ended up delaying their capital raising now look to be getting back on track, particularly with the Nifty 50 and Sensex having regained lost ground to trade about 3% off from their peaks."The IPO market has come back.... The absence of most of the negatives is driving the market more than anything else," said Suraj Krishnaswamy, the managing director of investment banking at Axis Capital So far this year, India continues to the world's No. 2 IPO market with $5.86 billion raised, accounting for the 12% of total proceeds globally, LSEG data largest offering this month is likely to be Credila, which has said it is seeking $584 India's largest stock depository, is looking to raise $400 million, according to a received its regulatory nod for a listing as far back as September but market sentiment trended lower not long after on concerns about slower growth for the economy and corporate about the two firms' valuations and IPO dates could be announced soon, bankers major offerings in the pipeline are LG Electronics India's $1.8 billion IPO, and issues from JSW Cement and defence equipment maker SMPP worth around $470 million each, they offering could come in late July or early August, according to one banker. The timing of the other two was less to PRIME Database, there are 143 Indian IPOs being planned worth a potential $26 billion. Of those, 73 have been approved by regulators."We expect the upcoming months to be the best for Indian IPO market as compared to what we have seen so far this year," Bhavesh Shah, the managing director and head of investment banking at however, were more cautious in their optimism, saying that participation from high net worth individuals and ordinary retail investors is unlikely to be as strong as it was last year."Investors have become far more selective and are now much more mindful about where they see higher potential for returns," said Umesh Agrawal, fund manager at 360 ONE Asset.
Economic Times
16 minutes ago
- Economic Times
Stock market update: Nifty Auto index falls 0.2%
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Economic Times
20 minutes ago
- Economic Times
Stock market update: Nifty Pharma index advances 0.01%
NEW DELHI: The Nifty Pharma index closed on a positive note on Tuesday. ADVERTISEMENT Shares of Laurus Labs Ltd.(up 2.93 per cent), Gland Pharma Ltd.(up 2.43 per cent), Biocon Ltd.(up 1.92 per cent), Zydus Lifesciences Ltd.(up 1.27 per cent) and Lupin Ltd.(up 1.19 per cent) ended the day as top gainers in the pack. On the other hand, Abbott India Ltd.(down 2.82 per cent), Ajanta Pharma Ltd.(down 2.78 per cent), J B Chemicals & Pharmaceuticals Ltd.(down 2.01 per cent), Alkem Laboratories Ltd.(down 1.83 per cent) and Mankind Pharma Ltd.(down 1.42 per cent) finished as the top losers of the day. The Nifty Pharma index closed 0.01 per cent up at 22041.25. Benchmark NSE Nifty50 index ended up 24.75 points at 25541.8, while the BSE Sensex stood up 90.83 points at 83697.29. Among the 50 stocks in the Nifty index, 24 ended in the green, while 26 closed in the red. ADVERTISEMENT Shares of Vodafone Idea, RattanIndia Power, IDFC First Bank, JP Power and YES Bank were among the most traded shares on the NSE. Shares of Gabriel India, TN Telecom, Zota Healthcare, Innovana Thinklabs and Sindhu Trade hit their fresh 52-week highs in today's trade, while Stampede Cap(DVR), Arisinfra Solutions, Sadhana Nitro, Ola Electric Mobilit and Ganga Forging hit their fresh 52-week lows. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
