Sebi is developing a 'when listed' concept for trading shares of companies post-IPO bidding closure to counteract the grey market's influence. This initiative aims to formalize the trading of yet-to-be-listed stocks in a regulated manner. Sebi is also streamlining the IPO submission process using AI tools to handle the anticipated surge in IPO applications effectively.
Related news
Indian stock markets are rallying due to a weakening US dollar and lower crude oil prices. The Sensex has risen nearly 1,000 points, while the BSE Smallcap index has surged 5.6% in three days. Analysts expect continued momentum, citing improved GDP growth and earnings recovery. However, global uncertainties and potential volatility remain concerns.
India's coal imports rose by 2% to 182.02 million tonnes between April and November this year. Monthly imports for November dropped to 19.57 MT due to sufficient domestic supply, leading to reduced demand. Coking coal imports also decreased slightly as the government pushes for increased domestic production.
The Maha Kumbh Mela in Prayagraj is driving a significant increase in trucking activity, with up to a 40% surge anticipated. Truck rentals have risen sharply, particularly on the Delhi to Prayagraj route. The highest demand is seen for transporting FMCG, fruits, vegetables, textiles, and petro products. CNG transport is also increasing due to event-specific requirements.
Aditya Birla Group's UltraTech Cement is set to acquire Wonder Cement's white cement business for Rs 235 crore. This acquisition will enhance UltraTech's production capacity, leveraging Wonder Cement's strategically located plant and booming turnover in the competitive putty manufacturing market.
India needs a tax buoyancy of 1.2-1.5 to achieve a 6.5-7% growth rate, according to an EY report. To support this growth, the government may need to boost the tax-to-GDP ratio to 14% by FY31. Enhancing tax buoyancy, managing expenditures, and continuing structural reforms are crucial for sustainable growth. India's projected GDP growth for the next fiscal is 6.3-6.8%.
Industry and law firms have suggested increasing the FDI cap for R&D and security agencies, liberalizing regulations for agriculture, and streamlining investment rules from China. These suggestions were discussed in a DPIIT consultation to make the overall investment regime in India more attractive, ahead of the Union Budget on February 1.
Infosys chairman Nandan Nilekani envisions a future where energy is traded in small amounts similar to digital payments. Households will produce, store, and trade energy, transforming the energy landscape. Regulatory reforms and formalisation are necessary to enable this shift, which could create millions of energy entrepreneurs and unlock massive opportunities in India.
Goldman Sachs has cut price targets for Indian IT stocks due to anticipated lower revenue growth amid US economic uncertainty. With significant revenue from the US, companies like LTIMindtree were downgraded while TCS is viewed more favorably. The brokerage highlighted ongoing challenges including muted discretionary spending and potential project delays due to macroeconomic conditions.
Indian IT firms generated $20 billion in free cash flows last year with over 75% returned to shareholders. Experts highlight the need for a reset as AI disrupts traditional business models. They suggest reinvesting in innovation and strategic investments to leverage future opportunities rather than focusing only on short-term shareholder returns.
Adani Total Gas Limited (ATGL) posted a net profit of Rs 142.38 crore for Q4 2024, marking a 19.4% decline YoY. However, revenues from operations increased by 12.5% YoY. Despite reduced APM gas allocation, ATGL ensured uninterrupted CNG supply and focused on expanding its network, adding new CNG stations and connections, including the new Jalandhar GA.