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India is pushing for a valuation of about 15 trillion rupees ($203 billion) for a state-owned insurer that’s soon expected to file for the nation’s biggest initial public offering, people familiar with the matter said, even as arrangers awaited a final report on the firm’s estimated worth. The so-called embedded value of Life Insurance Corp. of India is likely to be more than 4 trillion rupees, and its market value could be about four times Read More
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Pure-play data analytics and insights compay Course5 Intelligence Ltd has filed preliminary documents with markets regulator Sebi to raise Rs 600 crore through an initial share-sale. The initial public offering (IPO) comprises a fresh issue of equity shares aggregating up to Rs 300 crore and an Offer For Sale of equity shares aggregating up to Rs 300 crore, according to the draft red herring prospectus (DRHP). As part of the OFS, promoter entities — Ashwin Read More
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Capital markets regulator Sebi on Friday came out with a list of defaulters entities, including individuals, who are found to be untraceable. Publishing the details of untraceable defaulters on its website, Sebi said the recovery certificates were drawn up against these entities by the regulator’s recovery officer. However, these notices could not be served on the defaulters at their last known addresses. These notices were served from April 2015 to July 2021, the Securities and Read More
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NSE Nifty 50 surged 24 per cent in CY21, significantly better than the returns it posted in the previous three years, said analysts at Axis Securities. The domestic brokerage firm also maintained its Nifty 50 target for December 2022 at 20,200, valuing it at 22x FY24E earnings. The target implies about 15% upside from current levels. Last year’s bull run was led by outperformance in the broader market. Indian share markets were volatile in the Read More
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Bulls dominated the first trading session of 2022, forcing Dalal Street higher. S&P BSE Sensex soared 929 points or 1.6% to settle at 59,183 while the NSE Nifty 50 closed 271 points or 1.57% higher at 17,625. Bajaj Finance ended as the top Sensex gainer, up 3.5%, followed by Bajaj Finserv, ICICI Bank, and Axis Bank. On the other hand, Dr. Reddy’s was down 1.13%, accompanied by Mahindra & Mahindra, Tech Mahindra, and Nestle India. Read More
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