Mumbai: India’s benchmark indices soared to fresh all-time highs on Thursday as the Reserve Bank of India’s larger-than-expected dividend payment to the government prompted traders to cover some of their bearish bets. Receding uncertainty over the BJP’s performance in the general elections also bolstered sentiment, with the NSE Nifty ending a whisker away from 23,000. … Read more
Shares of multibagger HDFC Asset Management Company (AMC) have been downgraded by Kotak Institutional Equities despite growth tailwinds remaining the strongest. The company’s outperformance over its peers is fully priced in at the current valuations, Kotak said in a note as it slashed the stock’s fair value to Rs 3,750, a 1.5% climbdown from Tuesday’s … Read more
ET Intelligence Group: Integrated marketing services provider RK Swamy plans to raise up to ₹423.5 crore through an initial public offering (IPO). This includes a fresh issue of ₹173 crore and an offer for sale (OFS) of ₹250.5 crore. Promoters Srinivasan K Swamy and Narasimhan Krishnaswamy and investors such as Evanston Pioneer Fund LP and … Read more
As a pivotal year for India’s bond market gets underway, its top money managers are debating the best way to position for inflows that may hit $40 billion, according to some estimates. Aditya Birla Sun Life Asset Management prefers government bonds with maturities of seven to 14 years, while Bandhan Asset favors securities that have … Read more
