Page 22 - Latest Updates on Stock Market
Subdued equity market slows mutual fund penetration, shows data
Mutual funds fail to carry high growth momentum of FY22 due to changed market conditions
 "Subdued equity market slows mutual fund penetration, shows data")
Vedanta stock slips over dip in commodity prices despite in-line Q2 show
Soft prices of commodities including metals is weighing on investor sentiment
 "Vedanta stock slips over dip in commodity prices despite in-line Q2 show")
Busiest week for IPOs this year with four offers set to hit market
The last time four IPOs had hit market was in Dec 2021; latest rush notwithstanding, year 2022 has been lukewarm for IPOs with sustained FPI outflows, spike in volatility, correction in broader mkts
 "Busiest week for IPOs this year with four offers set to hit market")
Reduce the behaviour gap with a higher exposure to diversified funds
Avoid trying to time entry and exit from funds; hold for at least one complete cycle
 "Reduce the behaviour gap with a higher exposure to diversified funds")
Uncertainty on revenue growth, margin outlook hits Gland Pharma stock
The injectable manufacturing company expects the margin pressure to persist due to cost pressures and negative operating leverage.
 "Uncertainty on revenue growth, margin outlook hits Gland Pharma stock")
Nykaa and Policy Bazaar slide as one-year lock-in period nears end
Selling pressure is seen whenever the lock-in period meant for IPO anchor investors ends, particularly in companies backed by private equity investors
 "Nykaa and Policy Bazaar slide as one-year lock-in period nears end")
Debt MFs face lower risk, may put up a better show in Samvat 2079
Analysts advice investors to stay away from longer-duration funds yet, or consider a staggered plan
 "Debt MFs face lower risk, may put up a better show in Samvat 2079")
Eight of top-10 firms add Rs 2 trn in market valuation; Reliance leads
Eight of the 10 most valued firms together added Rs 2,03,335.28 crore in market valuation last week amid an overall positive trend in equities, with Reliance Industries emerging as the biggest gainer
 "Eight of top-10 firms add Rs 2 trn in market valuation; Reliance leads")
ITC Q2 net profit rises 24% to Rs 4,619.77 crore; revenue up 24.4%
The company attributed the performance to strong and broad-based growth across markets and channels
 "ITC Q2 net profit rises 24% to Rs 4,619.77 crore; revenue up 24.4%")
Bajaj Finance Q2 results: Net profit jumps 88% to Rs 2,781 crore
The company booked 6.76 million loans in Q2FY23, up 7 per cent YoY compared to 6.33 million loans booked in the year-ago period
 "Bajaj Finance Q2 results: Net profit jumps 88% to Rs 2,781 crore")
Axis Bank Q2 net profit rises 70% to Rs 5,329 crore; NII jumps 31%
Not looking to raise capital immediately for Citi deal: MD-CEO
 "Axis Bank Q2 net profit rises 70% to Rs 5,329 crore; NII jumps 31%")
Nestle India could sustain sales growth outperformance in coming quarters
Near-term margins, however, may remain under pressure
 "Nestle India could sustain sales growth outperformance in coming quarters")
Asian Paints Q2 results: Net profit rises 31% to Rs 783 cr, sales up 18.8%
The initial capacity to be set up would be 265,000 tonnes per annum. In addition, clinker grinding would be set up in India as well
 "Asian Paints Q2 results: Net profit rises 31% to Rs 783 cr, sales up 18.8%")
Piramal Pharma ends at Rs 192 on debut, valued at Rs 22,882 cr at close
Domestic brokerage Motilal Oswal has set a price target of Rs 210 for the stock
 "Piramal Pharma ends at Rs 192 on debut, valued at Rs 22,882 cr at close")
Suzlon rights issue subscribed 90% a day ahead of close, stock up 20%
The company is issuing 2.4 billion new shares at Rs 5 apiece; proceeds will be used pare debt, which currently stands at Rs 3,272 crore
 "Suzlon rights issue subscribed 90% a day ahead of close, stock up 20%")
Equity MFs favoured over debt funds despite negative stock mkt returns
The number debt scheme folios down 6% in 12 months to September 2022, equity MF folios have surged 21%; Passive schemes, which includes ETFs and index funds, have grown the fastest at 56%
 "Equity MFs favoured over debt funds despite negative stock mkt returns")
ACC logs surprise net loss of Rs 87.35 crore on high fuel, power costs
Net sales up 7%; royalty agreement with Holcim terminated on Sept 16; paid Rs 264 cr as royalty and technical fees in CY21
 "ACC logs surprise net loss of Rs 87.35 crore on high fuel, power costs")
Electronics Mart soars 42% at close on debut after strong response to IPO
Shares worth Rs 766 crore changed hands on NSE; offering had garnered more than 72x subscription
 "Electronics Mart soars 42% at close on debut after strong response to IPO")
Sensex up 491 pts, Nifty closes above 17,300 as banking shares advance
The 30-share BSE Sensex jumped 491.01 points or 0.85 per cent to settle at 58,410.98 as 24 of its components advanced
 "Sensex up 491 pts, Nifty closes above 17,300 as banking shares advance")
Activist investors: Pushing for change, quietly
From active selection and passive ownership to passive selection and active ownership, activist investors adopt a different tone in India
