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WeChat Owner Tencent’s Shares Surge Over 5%

17May By Lavina TolaniNo Comments

Market

WeChat Owner Tencent’s Shares Surge Over 5%

Chinese Tech Major, Tencent Holdings shares in Hong Kong surged over 5 percent Thursday after it posted a record quarterly profit for the three months to March. WeChat owner Tencent has its market capitalisation floating at over $22 billion as shares traded at 416.4 Hong Kong dollars ($53) during afternoon trade. Even Company's online games which are intensely popular like Honour of Kings have boosted revenues by 26%. The company in its official statement said, The growth in our payment solution business was mainly contributed by the rapidly increasing offline commercial transaction volumes and consumer cash withdrawal fees. WeChat which resembles WhatsApp in functionality to a lot of extents has now become China's biggest social network. The messaging app is an important source...

Indostar Capital Finance IPO subscribed two-thirds on Day 2

12May By Lavina TolaniNo Comments

Market

Indostar Capital Finance IPO subscribed two-thirds on Day 2

The Initial Public Offering of a Non-banking financial company backed by Everstone Capital-IndoStar Capital Finance Ltd. was subscribed 69% on the second day of bidding on Thursday. According to stock exchange data, the public issue of 22.57 million shares which excludes the allotment of anchor investors received bids for nearly 46.46 million shares. The category Qualified institutional buyers (QIBs) which was set aside also witnessed a subscription for over 1.80 times non-institutional investors 3% and retail investors 34%. Much ahead of the offering, this Mumbai based firm has successfully raised Rs 553.2 crore from prominent anchor investors including East Bridge Capital and Fidelity among others. The IPO will witness partial exit of promoters as well as co-investors. The of...

7May By Lavina TolaniNo Comments

Market

How IPO’s from Last Six Months Performed in Indian Stock Market

The Stock Market is one dynamic landscape where one can never be sure of what might take shape the very next moment. Last few months have witnessed a large number of IPO's getting SEBI's approval for public listing. But, how have they performed? Surprisingly, more than half of the listed Initial Public Offerings (IPO) stocks in last six months are trading below their issue price indicating that long-term capital chase in primary offers has not been put to good use. Out of 13 long-term IPOs since December 2017, seven of them have investors sitting with losses upto 29%. Investment bankers and Institutional investors believe that there have been many cases where rich valuations were sought in the IPO by promoters citing previous examples. Moreover, the topsy-turvy secondary market to ha...

Apple Shares Reach Record High after Warren Buffet Buys 75Mn Shares

5May By Lavina TolaniNo Comments

Market

Apple Shares Reach Record High after Warren Buffet Buys 75Mn Shares

American multinational conglomerate, Berkshire Hathaway Inc has bought an additional 75 million shares of Apple Inc. in the first quarter while dumping its remaining stake in International Business Machines Corp., Chairman Warren Buffett informed in an interview. Buffet's announcement has come just after Apple had reported its quarterly sales and profit rose higher superseding all analysts estimations in more than two years. The news also did away with fears in Apple shares amidst the concerns that its iPhone flagship was struggling to woe customers in the market. Apple purchase which would otherwise cost between $11 billion and $14 billion, now adds to the almost 170 million shares that Berkshire Hathaway owned at the end of 2017 which was then Buffet's biggest shareholding. The add...

Delhi-based E2E Networks’ IPO crosses one-third mark on First Day

5May By Lavina TolaniNo Comments

Market

Delhi-based E2E Networks’ IPO crosses one-third mark on First Day

Delhi-based Cloud Service Provider, E2E Networks Ltd. which is backed by Blume Venture Advisors witnessed its initial public offering cross the one-third mark on its first day itself. Post the IPO listing, the company is looking forward to entering on National Stock Exchange’s Emerge platform for small and medium enterprises. According to stock exchange data, the IPO received bids for 1.47 million shares against 3.86 million shares on offer. The book which currently does not have an anchor allotment saw 38% subscription at the end of the first day. Holani Consultants Pvt. Ltd, the merchant banker managing the IPO informed that about half of the IPO was reserved under non-institutional category comprising of wealthy individuals and corporate bodies. E2E is promoted by Tarun Dua and...

Xiaomi Files for “World’s Biggest” IPO Application in Four Years

4May By Lavina TolaniNo Comments

Market

Xiaomi Files for “World’s Biggest” IPO Application in Four Years

China's Leading Smartphone and Device Maker Xiaomi has filed for Hong Kong initial public offering on Thursday, which is being considered as one of the largest listings by a Chinese organization in almost four years i.e since 2014. The announcement came right after company's official revenue posting that stood at 114.62 billion yuan (USD 18 billion) in 2017, up from 67.5 percent from 2016. The company also reported a net loss of 43.89 billion yuan in 2016. Xiaomi's IPO will mark the first listing in Hong Kong to happen after new rules (dual-class shares implementation) that will target to garner more tech listings, in the backdrop of a competition ongoing between Hong Kong, New York, and the Chinese Mainland. As per sources obtained from Hong Kong Exchanges & Clearing Limited,...

IndiGo Stocks Witness 3% Fall Ahead of March Quarter Results

2May By Lavina TolaniNo Comments

Market

IndiGo Stocks Witness 3% Fall Ahead of March Quarter Results

Largest Airline Service in India in terms of passenger and fleet size, InterGlobe Aviation( IndiGo) had its shares fell by more than 3 percent today morning. The shares of the company have plunged just ahead of the announcement of its March quarter earnings scheduled to release later today. While the shares of the company opened at Rs 1,420, they were too quick to lose ground and felt low at Rs 1,353, accounting a 3.34 perecnt downgrade against the previous closing price. The Aviation Company witnessed a similar fate on NSE too where the shares that opened at 1,412.80 fell to a low of Rs 1,351, down by 3.69 percent over its previous closing price. Earlier in a regulatory filing, IndiGo had informed about a meeting of the board of directors to be held today to consider the approval...

L&T signs Rs.14000 crore agreement with Schneider

2May By Lavina TolaniNo Comments

Market

L&T signs Rs.14000 crore agreement with Schneider

Engineering and Construction Leader, Larsen & Turbo has signed a definitive agreement with Schneider Electric aimed at strategic divestment of its electrical and automation (E&A) business for an all-cash deal of Rs 14,000 crore. While the deal is subjected to regulatory approvals, the firm has reported a net revenue of Rs. 5,038 crore in last fiscal. Management has said that divestment of E&A business is in-line with L&T’s intent of unlocking value within the existing business portfolio and will fabricate capital and management focus for creating long-term value for stakeholders. The proposed transaction has incorporated all current segments of E&A excluding marine switchgear and Servowatch Systems. AM Naik, Group Chairman, Larsen & Toubro sai...

Mahindra Financial to raise Rs. 15,000 Crore via Bond Sales

1May By Lavina TolaniNo Comments

Market

Mahindra Financial to raise Rs. 15,000 Crore via Bond Sales

Mahindra and Mahindra Financial Services Ltd. are looking to raise Rs. 10,000-15,000 crore this fiscal year via multiple routes including a bond sale, informed Ramesh G.Iyer, company's vice chairman and managing director on Monday. Mahindra Financial is expecting Rs. 24,000 to come from the repayment of loans. The balance has been strategized to raise from the sale of bonds, banks, and financial institutions. The company is looking forward to injecting fresh capital that could reinforce lending to Rs. 35,000-37,000 crore this year, Iyer informed. The company’s shareholders have already cleared an enabling resolution to raise up to Rs. 40,000 crore and the rural non-banking finance firm has plans to raise up to $300 million from rupee-denominated offshore debt instruments. Iyer ...

TCS Becomes India’s First $100 Billion Company

23Apr By Lavina TolaniNo Comments

Market

TCS Becomes India’s First $100 Billion Company

India's largest IT giant, TCS has now become the country's most valued firm in terms of market capitalization as it market cap crossed the crucial USD 100 billion mark ( approximately Rs. 6.60 lakh crore) on Monday. The company has successfully superseeded Accenture's market cap which was at USD 98 billion. TCS's market cap now stands at the zenith and exceeds more than that of all other IT companies together. The company had become a USD 25 billion backed firms in 2010 and has never looked back since. It successfully crossed the USD 50 billion mark in 2013, followed by the USD 75 billion mark in 2004. The upsurge in IT major's script fortune has come just after it recorded a rise of 4.5 percent in Q4 profit. To recap, In the firs...

Best Penny and Small Cap Stocks To Buy in 2018

22Apr By Lavina TolaniNo Comments

Market

Best Penny and Small Cap Stocks To Buy in 2018

If you are an active share market investor in India, chances are there that at least at some point of time in your share/trading career you would have coaxed yourself into buying a stock that is trading at a very low price, say Rs. 10 or Rs. 20? The decision of buying such a low stock also called "penny stocks" would definitely not crop after a rational or judicious analysis of share market, rather would arise from an emotional perspective such as something like-" The stock is any way trading so low, how long can it go from here"? "Act Like an Investor, Not a Trader" While dealing with penny stocks it is important to think for investment for a longer term and not solely focusing on short-term profits. This is perhaps the very reason why stock market gurus never look at the market price of...

TCS Records Highest Q4 Performance, Rewarded 1:1 Bonus Share

20Apr By Lavina TolaniNo Comments

Market

TCS Records Highest Q4 Performance, Rewarded 1:1 Bonus Share

Country's largest IT firm, Tata Consultancy Services March Quarter(Q4) earnings reported a stellar performance on Thursday beating all expectations that analysts had estimated both on revenue and profitability. This double-digit growth quarter has come after the backdrop of 13 straight quarters of underperformance and the board members of Mumbai based company immediately rewarded shareholders with one on one bonus issue establishing the final dividend of Rs. 29 per share. The Mumbai based IT giant has posted a consolidated profit at Rs. 6,904 crores for Q4 quarter registering a 5.7 percent growth as compared to 4.5 percent (Rs. 6531 crores for the previous quarter) in the previous year. The Tata Group firm has reported a consolidated profit at Rs 6,904 cr...