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  • Indian firms raise over Rs 3 lakh crore from stock market in 2024

    Indian firms raise over Rs 3 lakh crore from stock market in 2024

    IANS

    The year 2024 has been historic for the Indian stock market as companies have raised a record capital of over Rs 3 lakh crore so far this year through Initial Public Offerings (IPOs), Qualified Institutional Placements (QIPs), and Rights Issues, breaking the previous record of raising capital – Rs 1.88 lakh crore in 2021.

    According to reports, 90 companies have raised or announced fundraising of Rs 1.62 lakh crore so far this year, which is 2.2 times more than last year’s Rs 49,436 crore.

    The amount raised through new issues in 2024 is around Rs 70,000 crore, compared to Rs 43,300 crore in 2021.

    So far in 2024, 88 companies have raised Rs 1.3 lakh crore through QIPs. Earlier, the highest amount of Rs 80,816 crore was raised through QIPs by 25 companies in 2020.

    So far, 20 companies have raised about Rs 18,000 crore through rights issues. Last year, this figure was Rs 7,266 crore and in 2022 it was Rs 3,884 crore.

    Indian firms raise over Rs 3 lakh crore from stock market in 2024

    IANS

    This figure is also expected to increase in the last two weeks of 2024, as this week, IPOs of companies like DAM Capital Advisors, Ventive Hospitality, Carraro India, Senores Pharmaceuticals, Transrail Lighting, Concord Enviro Systems, Sanathan Textiles, and Mamta Machinery are open.

    Experts say that the reason for the large amount of funds raised by the companies is the high economic growth rate, due to which companies are making more capital expenditures for expansion. It also shows the increasing confidence of the investors in the equity market.

    The growth rate of the Indian economy was 8.2 per cent in the financial year (FY) 2023-24. According to the Reserve Bank of India, the growth rate is estimated to be 6.6 per cent in the current financial year (FY 2024-25).

    (With inputs from IANS)

  • Indian stocks open lower as market awaits US Fed meet

    Sensex and Nifty crash by 1 pc, IndusInd Bank top loser

    Indian share market opens lower, all eyes on US Fed meetIANS

    The Indian stock market opened in red on Tuesday as selling was seen in Nifty’s PSU Bank, financial service, FMCG and metal sectors.

    At around 9:33 am, Sensex was trading at 81,548.45 after declining 200.12 points or 0.24 per cent, while the Nifty was trading at 24,605.5 after dropping 62.70 points or 0.25 per cent.

    The market trend remained positive. On the National Stock Exchange (NSE), 1,263 stocks were trading in green, while 989 stocks were in red.

    Nifty Bank was down 133.10 points or 0.25 per cent at 53,448.25. Nifty Midcap 100 index was trading at 59,587.30 after rising144.25 points or 0.24 per cent. Nifty Smallcap 100 index was at 19,575.45 after rising 44.40 points or 0.23 per cent.

    Sensex sheds over 900 points, all eyes on US election and Fed data

    Asian markets, except Japan, the markets of China, Hong Kong, Bangkok, Seoul and Jakarta were trading in redIANS

    In the Sensex pack, Reliance, Nestle India, Bharti Airtel, JSW Steel, HDFC Bank and Infosys were the top losers. Tata Motors, Adani Ports, Hindustan Unilever Limited, HCL and Tech Mahindra were the top gainers.

    Globally, markets will be looking forward to the Federal Open Market Committee outcome on Wednesday. Markets have already discounted a 25bp rate cut and, therefore, the focus will be on the Fed chief’s commentary, said experts.

    The US services PMI coming strong at 58.5 per cent indicates a resilient economy, which augurs well for the market.

    In the Asian markets, except Japan, the markets of China, Hong Kong, Bangkok, Seoul and Jakarta were trading in red.

    In US stock markets, the Nasdaq Composite and S&P 500 ended 1.24 per cent and 0.38 per cent higher respectively and Dow Jones Industrial Average ended 0.25 per cent down in the previous trading session.

    Foreign institutional investors (FIIs) sold equities worth Rs 278.70 crore in India on December 16, while domestic institutional investors sold equities worth Rs 234.25 crore on the same day.

    (With inputs from IANS)

  • Multi Cap Funds: Top 5 mutual fund schemes that gave the highest returns in 5 years

    Top Multi Cap Funds: Through mutual funds, you get the option to invest your money in different sectors, companies, asset classes. There are many categories of mutual funds and multi cap funds are one of these categories.

    The money invested in multi cap funds goes into all three types of companies – large cap, mid cap and small cap. Here we will know about those multi cap funds which have given the highest returns in the last 5 years.

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    Baroda BNP Paribas Multi Cap Fund

    According to AMFI data, the direct plan of Baroda BNP Paribas Multi Cap Fund has given a return of 25.42 percent in the last 5 years. If a lump sum investment of Rs 1 lakh was made in this scheme 5 years ago, then today that money would have grown to Rs 3,10,337.

    Invesco India Multi Cap Fund

    The direct plan of ICICI India Multi Cap Fund has given a return of 25.55 percent in the last 5 years. If a lump sum investment of Rs 1 lakh was made in this scheme 5 years ago, then today that money would have grown to Rs 3,11,949.

    Nippon India Multi Cap Fund

    The direct plan of Nippon India Multi Cap Fund has given a return of 26.52 percent in the last 5 years. If a lump sum investment of Rs 1 lakh was made in this scheme 5 years ago, then today that money would have grown to Rs 3,24,187.

    Mahindra Manulife Multi Cap Fund

    Mahindra Manulife Multi Cap Fund’s direct plan has given a return of 27.40 percent in the last 5 years. If a lump sum investment of Rs 1 lakh was made in this scheme 5 years ago, then today that money would have grown to Rs 3,35,619.

    Quant Active Fund

    Quant Active Fund is a multi-cap fund. Its direct plan has given a return of 30.83 percent in the last 5 years. If a lump sum investment of Rs 1 lakh was made in this scheme 5 years ago, then today that money would have grown to Rs 3,75,512.

    According to SEBI rules, under multi-cap funds, mutual fund companies have to invest at least 25 percent of their money in large cap, mid cap and small cap. They can invest the remaining 25 percent anywhere as per their choice.

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  • Tata Chemicals recognized among CII Top 20 Innovative Companies 2024 Award

    Dr. Richard Lobo

    Chandigarh, December 17, 2024: Tata Chemicals Limited has been honored with the prestigious CII Top 20 Innovative Companies 2024 Award at the Technology Conclave held during the CII Annual Summit on Technology, IP & Industry-Academia Partnership in New Delhi today. This accolade underscores the company’s commitment to fostering innovation and advancing sustainable solutions through cutting-edge research and development.

    The recognition is a testament to the consistent efforts of Tata Chemicals’ R&D teams, especially at the Innovation Centre in Pune, which has been pivotal in driving the company’s innovation agenda. Their pioneering work continues to redefine industry standards by focusing on green chemistry and sustainable practices.

    Speaking about the recognition, Dr. Richard Lobo, Head of Innovation, R&D, Business Excellence, and Chief Ethics Counsellor at Tata Chemicals, said, “We are most humbled to receive this recognition and dedicate this to the tireless pursuit of excellence and the culture of Innovation by our people and our customers. We continue to remain focused on developing sustainable, next-generation science, rooted in green chemistries, whilst collaborating with the best of academia and R&D labs in India and globally. This recognition by the Grand Jury at CII further fuels our passion to keep innovating at the cutting edge of Science and Technology.”

    The CII Industrial Innovation Awards recognize organizations for their innovative contributions to the Indian industrial landscape. They evaluate innovations across products, processes, services, and technologies that drive industry growth. By showcasing groundbreaking ideas and practices, these awards aim to enhance competitiveness and foster a culture of innovation.

    Tata Chemicals’ recognition underlines its alignment with the CII Enterprise Innovation Maturity Framework, which benchmarks organizations for their innovation practices and contributions. This achievement reaffirms Tata Chemicals’ position as a leader in promoting sustainable, science-driven innovation in India.


    Sujata

  • Maha Kumbh 2025: Indian Railways will run two special trains on this route, check routes and timings

    The railways have geared up for the Maha Kumbh to be held in Prayagraj, Uttar Pradesh early next year. Several special trains have been announced by the railways to ensure that passengers do not face any problems during the Maha Kumbh.

    In this series, special trains have now been announced from Madhya Pradesh to Varanasi. The first special train will run between Rani Kamlapati-Varanasi of Madhya Pradesh’s capital Bhopal and the second special train will run between Sogaria-Varanasi.

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    Rani Kamlapati-Varanasi Special Train Time Table

    Rani Kamlapati- Varanasi Special Train (01661) will run from Rani Kamlapati Railway Station on 16 January, 20 January, 23 January, 6 February, 17 February and 20 February. The train will leave from Bhopal at 11:10 am and will reach Banaras at 10:15 am the next day. In return, train number 01662 will run from Varanasi on 17 January, 21 January, 24 January, 7 February, 18 February and 21 February. The train will depart from Banaras at 02.45 pm and reach Rani Kamlapati Railway Station at 11.30 am.

    Rani Kamlapati-Varanasi special train will stop at these stations

    Rani Kamlapati-Varanasi-Rani Kamlapati Special train will get stoppages on both sides at Manikpur, Prayagraj Chheoki, Mirzapur, Chunar in UP via Mandideep, Obedullaganj, Budni, Narmadapuram, Itarsi, Sohagpur, Pipariya, Gadarwara, Kareli, Narsinghpur, Shridham, Madanmahal, Jabalpur Junction, Deori, Sihora Road, Katni Junction, Jhukehi, Maihar, Satna Junction, Jaitwar, Majhgawan in Madhya Pradesh.

    Timings and stoppages of Sogaria-Varanasi special train

    Sogaria – Varanasi Special Train (09801) The train will run from Sogaria on 17, 21, 24 January, 7, 14, 18 and 21 February 2025, and from Banaras on 18, 22, 25 January, 8, 15, 19, and 22 February 2025. The train will leave Sogaria at 8:15 am on Tuesday and Friday and reach Banaras Railway Station at 10:15 am the next day. The train will stop at Anta, Baran, Atru, Chhabra, Gugor, Ruthiyai, Guna, Ashok Nagar, Mungawali, Malkhedi, Khurai, Naryavali, Sagar, Girwar, Ganeshganj, Patharia, Damoh, Bandakpur, Rethi, Katni, Jhukehi, Maihar, Satna, Jaitwar, Majhgawan, Manikpur, Prayagraj Chheoki, Mirzapur and Chunar stations.

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  • Impact of Suspension of Agri Commodities on Food Prices and Agri Ecosystem

    17th December 2024  New Delhi, Delhi, India  Birla Institute of Management Technology (BIMTECH), Noida, one of the leading B-school in India and the Shailesh J. Mehta School of Management (SJMSOM), IIT Bombay conducted two separate studies investigating the impact of suspension of future derivatives contracts on Exchange Traded Commodities (ETCDs). BIMTECH study titled – Impact of Commodity Derivatives Suspension on Underlying Commodity Market is based on empirical data from January 2016 to April 2024 for Mustard Seed, Soybean including Soy Oil, Mustard Oil and Palm oil. It conclusively reports that that suspension of ETCDs (Exchange Traded Commodities) leads to absence of reference price for physical market, and that in turn results in scattered and higher price variance across mandis. SJMSOM, IIT Bombay study titled – Impact of Suspension of Commodity Derivatives on the Agri Ecosystem combines primary and secondary research through survey and in-depth interview of physical market participants (including farmers and FPOs) in three states i.e. Maharashtra, Rajasthan, and Madhya Pradesh with focus on Mustard Seed, Soya Oil, Soybean, Chana and Wheat. The study underlines that derivatives contracts serve as an important tool of price discovery and price risk management for farmer/FPOs and other value chain participants in managing the price volatility and inherent risks in the agro economic space.

    Two separate studies bust the prevalent market myth ‘Commodity Derivatives trading leads to inflation

    In 2021, SEBI suspended derivatives trading in seven agricultural commodity/commodity groups, in what can be termed as largest ever clampdown on Indian commodity derivatives market since the modern electronic versions of commodity exchanges came into existence in 2003. Though a specific reason wasn’t attributed to suspension, however, it is widely believed that the decision was taken with the objective of taming the rising prices due to underlying belief that derivatives trading contributes to price rise. In this context, the two esteemed institutes of India undertook a comprehensive study , evaluating the impact of suspension of commodity derivatives on the commodity ecosystem.

    The BIMTECH study, conducted by Dr Prabina Rajib, Dr. Ruchi Arora from BIMTECH & Dr Parama Barai from IIT, Kharagpur focused on three perspectives

    • Impact of unavailability of price anchors for local mandis
    • Impact on edible oil prices at wholesale and retail level
    • Hedging efficiency in the international markets for the suspended commodities

    Commenting on the study Prof Prabina Rajib said, “Periodic suspension of commodity derivative contracts has been a recurring theme in India that is not only hampering the growth of the derivative sector but also the growth of the overall commodity ecosystem. Though, world over commodity exchanges have continued to offer uninterrupted commodity derivatives contracts even in the face of supply-demand mismatch and variations in price. Hence, it was intriguing to deep-dive into the underlying prevalent belief system behind suspensions in India via empirical research and understand its impact on the foremost entity – our farmers and value chain participants. Our study articulates that the belief about derivatives futures trading leads to price inflation may be misplaced. Our analysis of retail and wholesale price determines that specifically for edible oils, not only have prices increased across categories during the post-suspension period, retail consumers are paying even higher prices.”

    The IIT Bombay Shailesh J Mehta School of Management study conducted by Associate Professor (Economics) Sarthak Gaurav and Assistant Professor Piyush Pandey (Finance) focused on four specific objectives.

    • To examine how price discovery and risk hedging were affected following the suspension of five ETCDs
    • To examine the relationship between futures and spot prices, volume, and volatility and to present commodity-specific price variation associated with the suspension
    • To understand if speculation in specific suspended commodities is actually even a matter of concern.
    • To gain insights pertaining to futures trading for physical market participants including the farming community whose experiences in the context of futures trading remain understudied.

    Speaking about their research Profs. Sarthak Gaurav commented, “Our research finds that there is no evidence of a positive relationship between Commodity Futures trading and spot market prices for five suspended commodities, suggesting that relationship between futures trading and food inflation for the commodities and time period of analysis is misplaced. In fact, the study based on statistical analysis of commodity futures and spot prices data and surveys in three states – Maharashtra, Madhya Pradesh, and Gujarat – firmly establishes that prices of both suspended and non-suspended commodities remained high after the suspension and that both domestic and international demand and supply factors influence retail prices of commodities.” He further states that, “Commodity derivative contracts play an important role in price discovery and risk hedging, which is apparent from the analysis. The suspension of futures commodities trading has negatively impacted better price realization because of the absence of reference pricing mechanism and thus also disrupted price risk management practices of participants in the commodity value chain. Consequently, the agri-ecosystem in whole has been affected due to hurdles in market access, participation and securing fair prices.”

    Adding to viewpoint brought forth by the two studies, Mr. Sanjay Rawal, President of the Commodity Participants Association of India (CPAI) said, “Suspensions of commodities and derivatives trading not only negatively impacts the agri value chain, it breaks the inherent trust in the mechanism in the long term. Hence, it is pertinent to note that such decisions have long lasting consequences for our commodity market both physical & financial. Such actions should be evaluated in the light of potential fundamental price influencing factors like international markets, geo-political environment, weather anomalies, supply chain disruptions etc. on the domestic retail prices.” He further elaborated that, “Derivatives trading offers an anchor price for the futures market for price discovery and price risk management. Even Indian Economic Survey 2023-24 has emphasized the important role played by the agriculture derivatives market. I sincerely believe that the commodity futures market can effectively contribute to price discovery only when many consumers, producers, traders, and aggregators use these markets to hedge their risk.”

    Dr. Rakesh Arrawatia, Professor, and Coordinator, Center of Excellence in Commodity Markets at the Institute of Rural Management Anand (IRMA) opined, “Commodity derivatives are market driven tools, that serve as shields during volatile times – safeguarding the interest of value chain participants and bringing sustainability to the commodity markets. Since these are relatively new tools, there is understandably a certain level of trepidation about them. However, the Government should utilize these tools to help the farmers manage their price risk even in the face of price volatility, encouraging them to actively participate, thereby boosting volumes and bolstering market confidence.”


    Rabindra

  • India’s WPI inflation eases to 1.89% in November

    India's WPI inflation eases to 1.89 pc in November

    IANS

    India’s annual rate of inflation based on the Wholesale Price Index (WPI) eased to 1.89 per cent in November compared to 2.36 per cent in October as the rise in food prices slowed during the month with the fresh crop arriving in the market, data released by the Commerce and Industry Ministry on Monday showed.

    “The positive rate of inflation in November 2024 is primarily due to an increase in prices of food articles, food products, other manufacturing, textiles, machinery & equipment,” according to an official statement.

    Food inflation slowed to 8.29 per cent from 11.59 per cent in October as vegetable prices, which had skyrocketed by as much as 63 per cent, went up by a lower 28.57 per cent during the month. Onion prices, for instance, rose by a mere 2.85 per cent in November, compared to 39.25 per cent in October.

    Fuel prices declined by (-) 5.83 per cent during the month slowing the overall rise in inflation.

    India’s WPI inflation eases to 1.89 pc in November

    IANS

    The inflation in manufactured goods edged up to 2 per cent in November from 1.5 per cent in October.

    Wholesale price inflation also has a direct bearing on CPI inflation as cheaper wholesale prices also translate into lower retail prices.

    Official figures released last week showed that India’s retail price inflation declined to 5.48 per cent in November as the increase in prices of food items eased during the month bringing relief to household budgets.

    The slowing inflation marks a reversal of the increasing trend in the previous two months when the inflation rate touched 6.21 per cent in October.

    The easing in inflation is a welcome sign as it was the first time that the rate of retail inflation crossed the RBI’s upper limit of 6 per cent. in October. The RBI is waiting for retail inflation to come down to 4 per cent on a durable basis before it can go in for an interest rate cut to propel growth.

    The Reserve Bank of India (RBI) earlier this month slashed the cash reserve ratio (CRR) for banks by 0.5 per cent to make more funds available for lending to spur economic growth but kept the key policy repo rate unchanged at 6.5 per cent with an eye on inflation.

    The CRR has been reduced from 4.5 per cent to 4 per cent which will infuse Rs 1.16 lakh crore into the banking system and bring down market interest rates.

    The monetary policy decision maintains a delicate balance between controlling inflation and pushing up the growth rate in a slowing economy,

    In his last monetary policy view, former RBI Governor Shaktikanta Das said, “India’s growth story is still intact. Inflation is on the declining path, but we cannot overlook the significant risks in the outlook. This risk cannot be underestimated.”

    He was optimistic about the outlook for the economy, observing that “the balance between inflation and growth is well poised”.

    (With inputs from IANS)

  • New speed limits on Noida, Yamuna Expressways – Know new limits, fines and more

    Yamuna Expressways New Speed ​​Limits: Overspeeding on Noida-Greater Noida and Yamuna Expressway can now prove costly. The government has reduced the speed limit on Greater Noida and Yamuna Expressway from today.

    This decision has been taken keeping in mind road safety, especially in the winter months when the risk of accidents increases due to fog and slippery roads. The aim of the new rules is to make traffic safe and reduce the number of accidents.

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    According to a report by NDTV, visibility reduces on foggy winter mornings and roads become slippery due to cold. In such a situation, high speed of vehicles becomes the main cause of accidents. Experts say that driving slowly is the safest solution in these circumstances. For this reason, it has been decided to reduce the speed limit.

    What is the new speed limit?

    Under the new rules, the speed limit for light vehicles on the Noida-Greater Noida Expressway has been reduced from 100 kmph to 75 kmph. For heavy vehicles, this limit has been reduced from 60 kmph to 50 kmph. On the other hand, the new speed limit for light vehicles on the Yamuna Expressway has been reduced from 100 kmph to 75 kmph and for heavy vehicles from 80 kmph to 60 kmph.

    Any driver who violates the new speed limit will have to pay a fine. The fine amount has been fixed at Rs 2,000 for light vehicles and Rs 4,000 for heavy vehicles. The aim of this strict step is to motivate drivers to follow the rules and make the road safe.

    What was the speed limit earlier?

    Till now, the speed limit on the Noida-Greater Noida Expressway was 100 kmph for light vehicles and 60 kmph for heavy vehicles. On the Yamuna Expressway, the limit was 100 and 80 kmph respectively. The new speed limit will be effective till the winter season and will be strictly enforced to give priority to safety.

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  • India’s trend GDP growth to move closer to 6.5-7 pc in FY25: Crisil

    India's trend GDP growth to move closer to 6.5-7 pc in FY25: Crisil

    IANS

    The main macro drivers remain healthy and India’s GDP growth is likely to move closer to the trend growth of 6.5-7 per cent this fiscal, a Crisil Insight report said on Monday.

    Trend GDP growth is the average sustainable rate of economic growth over time.

    Private consumption growth in the country has fared better than last year in the first half of the current fiscal (FY25).

    “While investment growth has moderated relative to last year, its share of GDP remains higher than the pre-pandemic decade,” the report mentioned.

    Technical factors contributed to an above-trend GDP growth last year. They are expected to have a moderating effect on GDP growth this current fiscal as they normalise.

    GDP growth

    IANS

    “GDP growth had averaged 6.6 per cent in the pre-pandemic decade. This fiscal is likely to see GDP growth move closer to trend growth of 6.5-7 per cent,” according to the report.

    It is worth noting that the main macro drivers of growth remain healthy. Private consumption grew 6.7 per cent on average in the first half of this fiscal, compared with 4.1 per cent in the corresponding period last year. Its share in GDP at 56.3 per cent this fiscal has been higher than 56.1 per cent in the pre-pandemic decade.

    The Wholesale Price Index (WPI) inflation has also been normalising. The last fiscal saw a decline in WPI inflation to -0.7 per cent. This fiscal WPI inflation has averaged 2.7 per cent, closer to the pre-pandemic 5-year average of 3.2 per cent.

    In November, India’s annual rate of inflation based on WPI eased to 1.89 per cent, compared to 2.36 per cent in October, as the rise in food prices slowed during the month with the fresh crop arriving in the market.

    “We expect improving consumption demand to drive growth momentum this fiscal. In particular, agriculture and rural demand are poised to improve after a healthy monsoon. This means growth will be more balanced this fiscal, even if it is lower than last year,” said the Crisil report.

    (With inputs from IANS)

  • Sensex settles at 81,748 amid mixed global cues

    Sensex and Nifty crash by 1 pc, IndusInd Bank top loser

    Sensex settles at 81,748 amid mixed global cuesIANS

    The Indian stock market closed lower on Monday amid mixed global cues.

    At closing, Sensex settled at 81,748.57, down by 384.55 points, or 0.47 per cent, and Nifty ended at 24,668.25, down by 100.05 points, or 0.40 per cent.

    The national market traded in a range-bound manner while the realty sector outperformed in expectation of growing demand and a potential rate cut cycle in 2025, said market experts.

    A rise in manufacturing and service PMI suggests a positive turnaround in H2 FY25 earnings, which may limit further downgrades in FY25 earnings.

    “Rising US 10-year bond yields and a strengthening dollar led investors to remain watchful of the upcoming US Fed policy and its commentary for 2025 rates,” the experts said.

    Nifty Bank ended at 53,581.35, down by 2.45 points, or 0.00 per cent. The Nifty Midcap 100 index closed at 59,443 at the end of trading after rising 451.50 points or 0.77 per cent.

    Nifty Smallcap 100 index closed at 19,531.05 after rising 123.75 points, or 0.64 per cent.

    On the Bombay Stock Exchange (BSE), 2,338 shares ended in green and 1,802 in red, whereas there was no change in 100 shares.

    Indian stock market opens flat, PSU bank shares lead

    Indian stock market closed lower on Monday amid mixed global cuesIANS

    On the sectoral front, buying was witnessed in the Auto, PSU Bank, Pharma, Realty, Media, and Private Bank sectors of Nifty.

    In the Sensex pack, Titan, UltraTech Cement, NTPC, TCS, Bharti Airtel, Tech Mahindra, Infosys, Hindustan Unilever, JSW Steel, HCL Tech, Tata Steel, Tata Motors, HDFC Bank, and Nestle India were the top losers. IndusInd Bank, Bajaj Finance, Power Grid, M&M, and Axis Bank were the top gainers.

    The market is currently waiting for the US Federal Reserve (FED) scheduled for December 17-18. The rupee traded at 84.87 as the dollar strengthened, holding above the $106.50 mark. The rupee’s trading range is expected to remain between 84.75 and 85.00 amid these developments, said experts.

    (With inputs from IANS)