After a long time, IPO investors made decent money on the IRCTC issue as it had left enough for them on the table, unlike most private sector IPOs which are usually squeezed dry of value before they hit the market. Yet, sadly, PSU IPOs have a history of defusing such investor enthusiasm post listing. Many PSU IPOs that delivered large premiums at listing have since turned duds. That's because as long as the government holds majority stake, it continues the stranglehold to the detriment of the business.
STREET PULSE: Where we stand Asian stocks inched higher on Tuesday as some investors held out hope that Britain still had a chance to avoid a messy exit from the EU at key negotiations this week.
Read More  | SGX Nifty traded nearly 23 points higher at 7 am (IST), signalling a positive start for Dalal Street. MSCI index for Asia-Pacific shares outside Japan rose 0.01%. Australian shares were up 0.12%, while Japan's Nikkei gained 1.38%. |
| US stocks ended flat in overnight trade amid continued uncertainty over a "phase one" trade deal with China. Dow ended slightly lower, while the Nasdaq was barely positive and S&P500 fell around 0.1%. |
WTI crude dipped 0.22% to $53.47 a barrel following a 2% decline overnight due to worries that global energy demand will remain weak. Brent fell 0.29% to $59.18.
Read More | LOOK WHO'S |  |
Made in India... Indian-American Abhijit Banerjee, along with Esther Duflo and Michael Kremer, won the 2019 economics Nobel for their work on finding new ways to tackle poverty. Duflo, a French-American, and Banerjee have been married for four years. They teach in Massachusetts Institute of Technology. They are the first couple to win the economics Nobel, and the sixth Nobel-winning couple. Kremer is with Harvard University.
Read More Up & Ahead… Two decades after India opened its insurance industry to private competition, LIC has continued to surge ahead of its rivals, logging a 6% jump in market share in FY20, even as the impact of state firms in other service-focused sectors such as telecom and aviation has become rather negligible.
Read More Total Entry… French energy giant Total will buy 37.4% stake in Adani Gas, marking another big-ticket entry of a global major in India's energy market after Shell and BP which are already in India, and Reliance Industries' talks for a possible sale of 20% of its core oil-to-chemicals division to Saudi Aramco.
Read More | WHO'S |  |
DHFL Roadblock… Differences between RBI and Sebi may delay or possibly even scupper resolution plans of defaulting firms such as DHFL, experts and industry insiders have warned. While RBI's word is binding on banks, mutual funds, who are also prominent lenders to many firms, are regulated by Sebi. The market regulator's views on certain aspects of the resolution proposed by banks are different from that of RBI and the clash may lead to delays.
Read More Price Scare... Retail inflation inched closer to the RBI's medium-term target of 4% in September for the first time in 14 months on higher food prices, although economists maintain that the economic slowdown will prompt a sixth consecutive interest rate cut in December. Wholesale inflation eased to its lowest level in more than three years.
Read More Meanwhile... China wants to hold more talks this month to hammer out the details of the "phase one" trade deal touted by Donald Trump before Xi Jinping agrees to sign it. Beijing may send a delegation led by Vice Premier Liu He, China's top negotiator, to finalise a written deal that could be signed by the presidents at the Asia-Pacific Economic Cooperation summit next month in Chile.
Read More 
Buy
No comments:
Post a Comment