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Market Walk
The forecast is likely to be pegged at 6.1% in the 8th June MPC meet
RBI is reportedly planning to raise its inflation projections for rate hikes RBI is reportedly planning to raise its inflation projections and also trigger a series of rate hikes, which could be announced in the June 2022 MPC meeting. RBI had already hiked rates by 40 bps in a special MPC meet held in May. In April, RBI had raised…
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Market Walk
Core inflation has spiked sharply paving the way for more rate hikes by the RBI
Vodafone Idea reported a narrowing of losses to Rs-6,563 crore in Q4 FY2022 Vodafone Idea reported narrowing of losses to Rs-6,563 crore in Q4 FY2022. Overall revenues for the fourth quarter increased by 6.5% to Rs.10,239 crore while EBITDA for the quarter was up 5.4% at Rs.4,649 crore. Average revenues per user (ARPU) was up 7.5% sequentially at Rs.124, which…
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Market Walk
LIC IPO saw 73.3 lakh retail applications an all-time record
The rupee falls 60 paise against the US Dollar, reaching an all-time low of 77.50. It was a sharp slump for the Indian rupee as it touched a new all-time low of 77.50/$. The rupee fell by 60 paisa as the US dollar touched a 20-year high. Apart from the dollar strength, the sharp outflows by FPIs has also led…
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Market Walk
FPIs withdrew Rs.1.65 trillion from Indian equities
FPIs withdrew Rs.6,400 crore from Indian equity markets in just 4 trading sessions Foreign portfolio investors (FPIs) withdrew Rs.6,400 crore from Indian equity markets in just 4 trading sessions after the RBI hiked rates by 40 bps. Other headwinds, like crude prices, OPM pressures and US Fed hawkishness also played a part. April was the seventh consecutive month the FPIs…
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Market Walk
Nirmala Sitharaman had committed 25,000 KM of national highways
Minister for Road Transport and Highways, has promised a record 18,000 KM of highways in FY23 Nitin Gadkari, the ubiquitous Minister for Road Transport and Highways, has promised a record 18,000 KM of highways in FY23 at the rate of 50 KM per day. The daily target is 50% higher than last year. He also added that the 1400-km trunk…
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Market Walk
RBI’s proactively raising the repo rates by 40 bps
RBI’s unexpected repo rate to 4.40% while the SDF rate moved up to 4.15% and the bank rate to 4.65% On Wednesday, RBI stole the thunder from the Fed by pre-empting the monetary dilemma and proactively raising repo rates by 40 bps. This took the repo rates to 4.40% while the SDF rate moved up to 4.15% and the bank…
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Market Walk
LIC’s $2.7 billion IPO is expected to be the fifth-largest in the world in CY22
LIC IPO that opens on 04th May, is likely to set records domestically and also globally The LIC IPO that opens on 04ths May, is likely to set records domestically and also globally. The $2.7 billion IPO will be the fifth-largest IPO in CY22 so far. LG Energy Solutions of South Korea had the biggest IPO this year of $10.8…
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Market Walk
FPIs are expecting aggressive rate hikes in the US, which may result in risk-off flows out of India
GST revenues in April 2022 touched an all-time high of Rs.1.68 trillion GST revenues in April 2022 touched an all-time high of Rs.1.68 trillion. That is nearly 20% higher on a yoy basis. However, it must be remembered that April GST revenues actually pertain to March economic activity. According to the GST Council, a total of 1.06 crore GST returns…
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Market Walk
Equity IPO process largely streamlined,SEBI is to streamline the process for REITs and INVITs
Vedanta saw pressure on its profits in Q4 it is planning to spend $2 billion on CAPEX in FY24 Even as Vedanta saw pressure on its profits in Q4, it is planning to spend $2 billion on capex in FY24. That would entail doubling of capex over FY23. For the quarter, revenues were up but profits fell 5% due to…
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Market Walk
LIC is likely to list on the stock markets on 17th May
LIC IPO will open on 04th May with a price band of Rs.902 to Rs.949 It is finally official that LIC IPO will open on 04th May and close on 09th May with a price band of Rs.902 to Rs.949. It is expected that at these valuations the LIC IPO would not crowd out other IPOs. LIC is likely to…
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