When is the best time to buy your own house? Harsh Roongta answers
It is also a social signalling tool. You are signalling to the rest of the society that, see, I not only have the amount for the down payment, but I am also confident of my prospects, income earning prospects in the future.
Sona BLW Precision shares slip over 5% amid block deal buzz
Shares of Sona BLW Precision Forgings (Sona Comstar) fell over 5% to Rs 505.2 in Wednesday's trade amid reports of a large block deal executed on the counter. The promoter Aureus Investment was likely to sell a 3.25% stake in Sona BLW Precision Forgings via a block deal. In Q4FY23, the company reported a strong revenue of Rs 744 crore with 35% YoY growth, while the revenue share from Battery Electric Vehicles (BEV) stood at 28%, a growth of 37% YoY.
Indian NBFCs double fundraising via bonds in five days as bank rate gap widens
Indian non-banking financial companies (NBFC) have raised around INR 100bn ($1.21bn) in the past five days from bond issues, double that of the preceding work week. More issues are expected as interest rates in the debt market continue to be low, leading to demand picking up as lending rates drop. Meanwhile, the Reserve Bank of Indias recent move to withdraw INR 2,000 notes is expected to boost liquidity and lead to shorter tenor yields improving.
HDFC Bank may buy 1.6% in HDFC Life from JV partner
In a similar move, ICICI Bank this week approved a proposal to increase its shareholding in ICICI Lombard General Insurance, aiming to establish the company as a subsidiary of India's second-biggest lender by market capitalisation.
Promoter group Abrdn likely to offload entire stake in HDFC Life via block deal: Report
UK-based Abrdn is set to sell its 1.66% stake in HDFC Life via a block deal, which will take place on Wednesday. The stake is being sold at a price of INR563-585 ($7.62-$7.92) per share. During Q1 2021, HDFC Life Insurance posted a net profit of INR359 crore. Its net premium income for Q1 stood at INR19,426 crore, compared to INR14,290 crore year on year. Public shareholders have a 49.66% overall stake in the company, while mutual funds own around 4.09% and foreign investors have nearly 30%.
Aureus Investment to sell 3.2% stake in Sona BLW via block deal on Wednesday: Report
Aureus Investment Pvt Ltd plans to sell a 3.25% stake in Sona BLW Precision Forgings for INR950 crore ($115m) through a block deal, with the floor price for the sale being INR500 a share. The sale will involve up to 19 million shares, with the base size of 12 million shares, and the block will take place on 23 June. In March, private equity company Blackstone sold its remaining 20.5% stake in Sona BLW, which resulted in strong demand from foreign investors.
HDFC's education finance arm bondholders fret over stake sale -sources
HDFC Credila Financial Services bondholders are concerned about potential write-downs after the company's ownership transfer from its AAA-rated parent company to a potentially lower-rated private equity firm, at least five institutional bondholders told Reuters. HDFC is selling 90% of the company to Baring EQT to comply with a regulatory directive, which has caused anxiety among its creditors and bondholders. The move follows a downward rating for HDFC's Affordable housing finance unit, Gruh Finance, after its 2019 takeover by lower-rated Bandhan Bank. Bondholders are reportedly looking to seek assurances from HDFC.
4 sectors Andrew Holland is bullish on for near term
So anything, any economic-related sector which is vulnerable has really kind of seen a big fall over the past six months as well. Whereas in India, you mentioned before that the small cap index has hit new highs.
These 5 flexi-cap mutual funds have given investors inflation-beating returns
Flexi-cap mutual funds invest in companies with different market capitalizations and are suitable for aggressive investors. Here are five funds with inflation-beating returns over 3-5 years: HDFC Retirement Savings Fund Equity Plan Direct-Growth Fund, HDFC Focused 30 Fund Direct Plan-Growth Fund, ICICI Prudential India Equity FOF Direct - Growth Fund, PGIM India Flexi Cap Fund Direct-Growth Fund, and 360 ONE Focused Equity Fund Direct-Growth Fund. They have different NAV, returns, AUM, expense ratios, and minimum investments.
Sensex rises for 3rd day, ends 345 pts higher; Nifty around 18,600
In the Sensex pack, M&M, Titan, and Tata Steel were the gainers, rising 2-3%. HDFC, UltraTech Cement, SBI, ITC, and IndusInd Bank also closed with gains. On the flip side, HCL Tech, Power Grid, Maruti, Wipro, TCS, and ICICI Bank closed with cuts.
So if you look at Repco Homes, we have seen consistent formation of higher tops, higher bottoms on the daily charts so the trend is shaping up quite well. However, if you look at slightly longer period, it is about to witness a hurdle that will be around levels of Rs 245.
Nifty Bank hits record high, Sensex eyeing uncharted territory. Should you go with the flow?
Nifty Bank soared to a new record high on Monday, crossing the 44,400 level, due to non-stop buying by foreign institutional investors and optimism surrounding the US debt ceiling deal. The banking index has rallied around 400 points, while Nifty50 and Sensex are approaching their previous peaks. HDFC twins were the biggest contributors to the upside in both Sensex and Nifty, and all 12 counters in the banking index were in the green. Analysts warn against the urge to buy on the higher side, with valuations difficult to justify at higher market levels and the possibility of selling pressure.
Sensex surges 500 points, Nifty above 18,600 on US debt ceiling deal
From the Sensex pack, M&M, HDFC, Kotak Bank, IndusInd Bank and HDFC Bank were the top gainers, rising 1-3%. Bajaj Finserv, NTPC, and Nestle also opened higher. Whereas, only Sun Pharma and Power Grid opened in the red.
Baring EQT set to buy HDFC's education loan arm Credila for up to $1.5 billion
The buyout fund will be buying 90% of the company, with the housing finance company retaining a 10% stake that it may sell over a two-year period. A formal announcement is expected by June end, ahead of the mega merger between HDFC Bank and HDFC to create the worlds fourth-largest bank. Both sides are finalising legal documentation, said the people cited above.
Mcap of 7 of top-10 most valued firms jumps Rs 1.51 lakh crore; Reliance, TCS biggest gainers
The combined market valuation of seven of the top-ten most valued firms jumped Rs 1,51,140.39 crore last week, with Reliance Industries and Tata Consultancy Services emerging as the biggest gainers. While Reliance Industries, Tata Consultancy Services (TCS), Hindustan Unilever, ITC, Infosys, State Bank of India and Bharti Airtel made gains in their market valuation, HDFC Bank, ICICI Bank and HDFC faced erosion
Adani Enterprises gains most from block deals this week. Know how ITC, Airtel, HDFC, others performed?
Adani Enterprises was the best performer on the Nifty50, gaining over 30% in the week ending May 26, on the back of 61 block deals that brought in INR1,021 crore for the company. Star Health Insurance was the top loser, seeing its stock fall 8.8%. The market featured buying and selling, with Adani Transmission, ITC, Bharti Airtel, and Max Healthcare Institute all experiencing significant bulk deal action. In the week, Nifty50 gained 1.63% and was the second-best performing index among MSCI Emerging Market peers.
TCS among top 3 trading calls for next week: Rupak De of LKP Securities
Nifty futures showed bullish optimism with high rollover rates in May. Nifty Bank saw lower rollover numbers, signaling investors are booking profits. Auto, Cement, Pharma, PSU Banks and Realty sectors are more likely to perform better in the next series, with Grasim and Berger Paints receiving the highest rollover, ONGC, ICICI Lombard and Hero Motor having the least. The Nifty's upside potential could reach 18,800 to 19,000 in the coming period. FIIs remain confident in the Indian markets, while RIL's rally was influenced mostly because of a consolidation breakout and double-bottom formation.
Looking to invest in index funds? Consider these 5 schemes that gave over 20% returns in 3 years
Index mutual funds provide exposure to equities through tracking a selected equity index with low management fees. Although they offer lower returns, risk-averse investors may consider them. Five funds that have yielded returns of over 20% within a 3-5 year period are Motilal Oswal Nifty Smallcap 250 Index Fund, Bandhan Nifty 50 Index Fund, Motilal Oswal Nifty 50 Index Fund, HDFC Index S&P BSE Sensex Direct Plan-Growth Fund, and Nippon India Index Fund S&P BSE Sensex Plan Direct-Growth Fund. Each fund has varied minimum investment requirements, management fees, and AUM.
MedGenome, backed by Sequoia Capital, acquires Delhi-NCR based Prognosis Laboratories
MedGenome, backed by Sequoia Capital, LeapFrog Investments, Novo Holdings, Sofina, HDFC, Emerge Ventures, Zodius Capital and International Finance Corporation, offers genetic testing services, genomics Research and drug discovery solutions.
Value buys? These 20 Nifty stocks trading below 10-year PEs
Although Indian stock market valuations have dropped to their 5-year and 10-year historical averages, analysts still lack comfort in recommending investors to put money aggressively. However, nearly 50% of index stocks are below their 10-year averages, which can offer decent returns. UPL has the highest upside at 35% despite brokerage Prabhudas Lilladher slashing its FY24E/25E estimates by 16%/12% and target multiple from 14x earlier to 12x. Meanwhile, HDFC Bank, SBI, Axis Bank, and M&M have upwards of 20% upside potential each in the next 12 months.
Should you use an NFO for tactical allocation? Mrin Agarwal answers
Look at the whole pharmaceutical theme or the healthcare theme which was so big in 2020 but 2021, 2022 healthcare stocks have been right at the bottom. So, the main thing is that if you are planning to do a tactical allocation, you need to be very clear about what sector you want to do it in and it has to tie-in with your risk profile and your investment strategy.
Stay in stocks, Peak 19K is coming; time to own both IndusInd and HDFC Bank: Sanjiv Bhasin
IIFL Securities' Sanjiv Bhasin recommends owning both IndusInd and HDFC Bank because of their strong return on equity, return on capital, and branch expansions. He also believes that Zomato is a "no-brainer" for the restaurant business and Paytm can be a huge outperformer with its financial arm in the offing. Bhasin agrees that the electronics manufacturing industry is in a sweet spot and companies like Havells and Voltas are doing extremely well. Additionally, he prefers IndusInd Bank, which he has personally invested in.
Sensex, Nifty open in red, dragged by bank, IT stocks
Indian stock markets traded lower on Wednesday, following the negative global market sentiments. Banking and IT stocks observed significant selling. Power Grid, Bajaj Auto, Dr Reddys, and Britannia experienced gains, while Adani Ports, ICICI Bank, Hindalco, HDFC, and Indusind Bank were among the top laggards in the Nifty50 pack. Global markets also traded lower due to the uncertainties surrounding the US debt ceiling crisis. Meanwhile, the Indian rupee was at Rs 82.80 against the US dollar.
Will your mutual funds be able to charge performance-linked fees?
Sebi wanted to cap the Total Expense Ratio charged by mutual funds as the total costs incurred by investors were way above the prescribed fee. The Sebi also proposed a performance-linked fee. Will it make a big difference to mutual fund investors?
MC Exclusive | Race for HDFC Credila: Consortium of BPEA EQT, Chrys Capital & Faering Capital in the lead
Set up in 2006, HDFC Credila is India's first dedicated education loan company. HDFC acquired control of the firm through two stake buys in 2009 and 2019 from DSP Merrill Lynch Capital Ltd and the Bohora family
Mcap of 6 of top 10 valued firms erodes by Rs 70,486.95 cr; Reliance, TCS biggest laggards
Six of the top 10 most valued companies witnessed a decrease of Rs 70,486.95 crore in their market valuation last week. The weak trend in equities caused Reliance Industries and Tata Consultancy Services (TCS) to suffer the biggest loss. ICICI Bank, Hindustan Unilever, Infosys and Bharti Airtel were the only gainers while Reliance Industries continued to dominate the list of most valued firms followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, State Bank of India, HDFC Bank, and Bharti Airtel.
Odisha Chief Minister Naveen Patnaik owns property worth Rs 65.40cr
Patnaik owned movable property worth Rs 12.52 crore, which included bank accounts in New Delhi, Bhubaneswar, Hinjilicut, and Bargarh, along with jewellery and a four-wheeler. Patnaik has fixed deposits worth Rs 1 crore in HDFC, RBI bonds of Rs 9 crore, and a deposit of Rs 1.50 crore in a post office.
2 top stock recommendations from Swati Ananda Hotkar
So, on every rise, we are witnessing a selling pressure, vice versa on every bottom we are getting some buying or pullback rally, so which shows that the Nifty has got stuck within the range of 300 to 400 points.