Tuesday, April 16, 2024

Arthavarta: Highest increase in 'Ya' shares leader


* In the last week, the Nifty and Sensex indices increased by a total of 115.15 points and 313.24 points respectively, both indices closed at 22493.55 points and 74119.39 points respectively. The Nifty gained 0.51 percent, while the Sensex also rose. Both indices closed at their all-time highs. Top gainers include Bajaj Auto (12.3 percent), Tata Steel (11.6 percent), Tata Motors (9.4 percent), HDFC Life (6.9 percent). Also, top losers during the week included Infosys (-3.4 percent), LTI Mind Tree (-3.4 percent), SBI Life (-2.7 percent), Ultratech Cement (-2.2 percent), Mahindra & Mahindra (-1.8 percent). . The Federal Reserve, the US central bank, is likely to cut interest rates in June. Due to this, it is predicted that the cycle of inflation rate hike and alternatively interest rate hike, which has been going on for the last one and a half to two years, will end. Due to this there is a bullish atmosphere in the international and mainly in the Indian market. Similarly, various global financial institutions like JP Morgan, Bloom Group decided to include Indian bonds in their emerging market index. Due to this, India's international currency reserve (Forex kitty) will be added to a large extent. All these combined had a positive impact on the Indian capital market.

* While registering the bonds in the market, the Reserve Bank and SEBI have found that commercial banks and other financial institutions are doing illegal things like finding investors and providing loans to the company bringing the bonds and guaranteeing profit after registration (Profitable exit offer listing). A fund of 20 thousand crores has been raised through public issue in the financial year 2024. After taking action against JM Finance in this regard, SEBI and RBI have started a thorough investigation in other cases as well.

* RBI strike on IIFL company. Ban on disbursement of Gold Loan till further orders. RBI's explanation of action taken for non-compliance with loan disbursement norms. IIFL (Finance) portfolio (value) stands at 24692 crores as on 31st December. Sonetaran is the second largest loan disbursing company in the country. Shares of IIFL tumbled 35 per cent in two sessions on news of RBI restrictions. But the shares recovered as Canadian billionaire Prem Vats' Fairfax India Hold'ems prepared to invest $200 million.

* Major investor Rakesh Gangawal in IndiGo Airlines will sell 3.3 percent stake for Rs 3700 crore. Rakesh Gangawal total 25 percent stake in IndiGo's InterGlobe Aviation. It is understood that the offer for sale price has been fixed at Rs 2925 this time. In February 2022, Gangawal stepped down from the board of directors of InterGlobe Aviation. After this, he had announced to sell his and his family's entire 25 percent stake in Interglobe Aviation in phases over the next five years. As a part of this plan, this sale is currently being carried out.

* Last week, Singapore Telecommunications (Sing Tel) sold 0.8 percent stake in Bharti Airtel in Thursday's session. A total of 5850 crore shares were sold to the American company GQG Partners. After this transaction, Singtel will have a 29 percent stake in Airtel worth a total of $33 billion (Rs 2 lakh crore).

* 4.4 percent stake in Motherson Sumi Company was sold by Japanese company Sumitomo Wiring for 3633 crores. A total of 300 million shares were traded at Rs 121.03 to Rs 121.25 per share. This reduced Sumitomo Wiring's stake in Motherson Sumi to 9.72 percent.

* International Bloomberg Index Services has announced the inclusion of Government of India Securities (G-sec) in the Emerging Markets Local Currency Index. This created the possibility of another 5 to 7 billion dollars of foreign exchange investment in India. In Indian currency rupees, this investment will be around 50 to 60 thousand crores. After January 31, 2025, these bonds will be phased in over the next 10 months. Recently, JPMorgan, an international company, announced that it will include Indian bonds in its emerging index fund from June. Within months, Bloomberg also announced its decision to position Indian bonds. This shows the increasing dominance of Indian economy at the international level.

* Several major Indian apps were removed from the Google Play Store. The apps were reactivated after the intervention of Ashwini Vaishnav, Minister of Communications and IT. It had famous Indian apps like InfoAge, Shaadi.com, Bharat Matrimony, KukuFM. There was a dispute between the two sides over the royalties Google had to pay the apps.

* Capital market regulator SEBI has taken strict action after Reserve Bank slapped JM Financial Company. As a result, JM Financial will not be able to act as lead manager for any public debt issue until further notice. However, concession to act as lead manager for the next 60 days has also been given for the existing debt issue. IPO Kink NCDs are introduced through lead managers when they are marketed. In such a case, JM Financial has been accused of engaging in illegal behavior like getting individual investors, making funds available to them and guaranteeing exit with profit as soon as it is registered (Listing). The investigation in this regard will be done in the next six months. Also, JM Financial has assured full assistance to the investigating agencies in all these processes.

* Investments in Indian capital markets through SIPs set a new record in February. 19187 crores were invested through SIP in the month of February. Out of the last 17 months, investment through SIP has increased in 14 consecutive months.

* Gold and silver prices at record highs Gold prices touched Rs 65,298 per 10 gram on the MCX stock exchange in Friday's session. In the international market, this price reached 2,152 dollars. Silver rates also touched the mark of 74 thousand per kg. In the month of June, the US Federal Reserve has signaled an interest rate cut. Analysts believe that this has created a bullish environment in the global market.

* 17 percent increase in salary of government bank employees. A total fund of 12,449 crores will be spent for this. The hike will be implemented with retrospective effect from November 1, 2022. This creates a happy atmosphere among the employees.

* India's foreign exchange reserves hit a two-year high of $625.6 billion in the week ended March 1. Reserves increased by $6.6 billion in just one week.

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