IndusInd Bank and Hero MotoCorp may be dropped from the Nifty50 in the September review, with Max Healthcare and IndiGo likely replacements, according to Nuvama. Max could see $400 million in passive inflows if included. BSE is unlikely to enter the Nifty50 or even the Nifty Next 50 unless its stock surges over 40% and sustains the rally through July.
Ankur Jhaveri of JM Financial highlights India's potential gains from the China+1 strategy amid global manufacturing shifts. He anticipates rural consumption and domestic manufacturing as key growth drivers, while geopolitical events and trade deals remain crucial market factors. Jhaveri suggests a bottom-up investment approach, favoring companies with solid earnings and reasonable valuations, particularly within the banking sector.
Barclays has announced executive appointments in its Asia Pacific investment banking division, aiming to boost regional growth amidst a global capital allocation review. Richard Satchwell will lead Capital Markets Financing for APAC, while Ee-Ching Tay becomes the chief of Merger and Acquisition for the region. These changes follow Avinash Thakur's appointment as head of the division.
Moving Media Entertainment debuted on the NSE SME platform with a 1.4% premium, listing at Rs 71 against an issue price of Rs 70. The IPO, a fresh issue of 62 lakh shares, saw strong revenue growth in FY25. Proceeds will fund advanced camera solutions, debt repayment, and general corporate needs.
The Initial Public Offering of Happy Square Outsourcing Services, known as White Force, is set to open today. The IPO aims to raise Rupees 24.25 crore. The company specializes in HR outsourcing solutions. The share price is between Rupees 72 to Rupees 76. The IPO has already raised Rupees 6.6 crore from anchor investors.
Gold prices dipped as U.S.-Vietnam trade de-escalation boosted market sentiment. Investors are keenly awaiting the U.S. payroll data for insights into the Federal Reserve's future policy decisions. The U.S. will impose a lower tariff on Vietnamese goods, while negotiations with India face hurdles over agricultural exports. U.S. private payrolls saw an unexpected decline, heightening anticipation for the non-farm payrolls report.
Indian startups are increasingly eyeing local stock exchanges for their listings, driven by robust valuation multiples in the public markets and growing maturity of the domestic startup ecosystem, analyst and investment bankers pointed out. Smaller companies are opting for the IPO route not only to raise capital, but also to provide exit to their investors.
HDB Financial Services debuted strongly on the NSE at 835, a 13% premium over its IPO price. Despite closing slightly higher at 840.25, analysts suggest current investors hold for the long term, while new investors await dips due to concerns about FY25 performance. The IPO, heavily subscribed and backed by HDFC Bank, marks a significant event in the NBFC sector.
