Venture debt deals largely loan-driven
With venture debt funds shying away from subscribing to equity warrants at high valuations, most start-ups are closing out pure-debt deals at high coupon rates. “Start-ups are taking on debt at higher than the usual 14-15.5%. Interest rates on these can go as high as 18-20%,”said an investor.
The number of deals, with an equity upside, has fallen sharply. Compared with 38 deals in 2022 and 49, the year before, Tracxn data shows that startups have closed out only 17 venture debt deals this year so far.
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Pranav Parikh, Managing Partner- Private Equity at Nuvama Asset Management confirmed that deals with warrants are falling through because of the lower- than- expecte…
Stocks to watch- Adani Enterprises, Rail Vikas Nigam, Raymond, Updater Services
Stocks in Focus: GIFT Nifty traded flat at 19,443.5, down marginally 0.04%, indicating a flat opening for domestic indices NSE Nifty 50 and BSE Sensex. On Tuesday, the benchmark domestic indices ended in red. The NSE Nifty 50 fell 0.56% to settle at 19,528.75, while the BSE Sensex tumbled 316.31 points to 65,512.10.
“Bearish sentiment prevailed through the trading session as weak Asian cues triggered corrections in automobile, oil & gas and metal stocks. Globally, the dollar’s continued strength against major currencies, including rupee has resulted in a flight of capital to safe haven dollar securities, thus making investors jittery. Ahead of the RBI’s credit policy outcome on Friday, markets may witness sideways movement, with focus likel…
Rupee closes at record low
The rupee fell 6 paise against the dollar to close at a record low of Rs 83.57 on Tuesday, weighed down by a strong dollar. The weakness in the local currency was in sync with that of other Asian currencies and comes ahead of the US Federal Reserve’s rate decision this week.
The local currency plunged to as low as 83.5725, near to its previous record low of 83.5750 touched in April, but likely intervention from the Reserve Bank of India (RBI) prevented any further fall in the rupee.
“Stronger than expected US data and political uncertainty after the French president called for snap elections pushed euro-US dollar pair lower and the dollar index higher. Oil demand and rising crude oil prices are further adding to rupee weakness,” Kunal Sodhani, vice-pr…
Stocks to watch- Reliance Industries, TCS, Adani Ent., Maruti Suzuki, Bharti Airtel, Wipro
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Wednesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded down 24 points or 0.12% at 19,824.50, indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 gains 89 points or 0.45% to settle at 19,783.40, while the BSE Sensex gained 275.63 points or 0.42% to 65,930.78.
“Markets snapped the recent losing streak and ended higher despite a mixed trend in other Asian indices and weakness in European gauges. Cautious optimism prevailed in the market as investors resorted to selective buying in an uncertain market. Corporate earnings season is …
Stocks To Watch- HUL, Zomato, Jio Financial Services, Unichem Laboratories, HDFC Life
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a gap down opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lower as the index was down 34.50 points or 0.14% at 24,620 indicating a lower start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 rose 85 points or 0.35% to settle at 24,587, while the BSE Sensex advanced 145 points or 0.18% to close at 80,665.
Stocks to watch on July 16, 2024
HUL
Hindustan Unilever Limited (HUL) on Monday announced that it has signed an agreement for the sale of its Pureit business in India. In a regulatory filing, HUL said …
Will Nifty continue to trade above 19000 or slip in trade- See GIFT Nifty, FII data, crude, more before market opens
GIFT Nifty traded flat at 19,218 down merely 7.5 points or 0.04%, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously on Monday, the NSE Nifty 50 soared 93.65 points or 0.49% to settle at 19,140.90, while the BSE Sensex climbed 329.85 points or 0.52% to 64,112.65.
“Markets extended rebound and gained nearly half a percent, in continuation to Friday’s move. After the initial fall, Nifty gradually inched higher as the session progressed and settled around the day’s high at 19,140.90 level. Meanwhile, the rebound in select heavyweights, especially from the energy and banking space, contributed the maximum while the broader indices closed almost unchanged,” said Ajit Mishra, SVP – Technical Research, Religare B…
UBS bullish on TCS, sees as market leader in revenue growth; raises rating and target price; Here’s why-
Tata Consultancy Services outperformed peers in revenue growth as it bagged large deals in the managed services space, said UBS Securities in its research report. The brokerage house said the company will “lead its peers in revenue growth by 100-150 basis points along with improvement in margins in FY25.”
The brokerage has given a “Buy” rating on the stock of TCS from “Neutral” earlier. It has also lifted the target price to Rs 4,700, an increase of 16% from the previous price target of Rs 4,050.
“We believe the market is not pricing this in, given a divided consensus and the stock remaining at the lower end of its long-term trading premium vs peers,” the report said.
Ola Electric shares jump over 16% after flat listing PFC gains…
Rate of rupee depreciation coming down- Goyal
Commerce and Industry Minister Piyush Goyal on Saturday said the rate of rupee depreciation has come down and expressed hope that after 8-10 years, it will start appreciating against US dollar, helping the Indian economy to grow at faster pace.
Unlike in the past, Goyal said, the Reserve Bank of India and the finance ministry are working together to push the growth of the country. The government has taken a series of measures to boost economic growth and now India has become the fifth largest economy of the world.
Rupee has stabilised now, otherwise it used to depreciate at a rate of…
Will Nifty trade above 22,000 mark to hit a fresh high- See GIFT Nifty, FII data, F&O ban, crude, more before market opens
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Monday. Here is all you need to know before the market opens.
GIFT Nifty traded up by 69 points or 0.31% at 22,044 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 gained 247.35 points or 1.14% to settle at 21,894.55, while the BSE Sensex ended higher by 847.27 points or 1.18% to 72,568.45.
“Market ended a 2-week long consolidation phase on Friday and gained over a percent. Buoyancy in the IT heavyweights triggered a firm start, which further strengthened with buying in heavyweights across sectors. Consequently, the Nifty index settled around the day’s high at 21,89…
Stocks To Watch- Infosys, Wipro, HAL, Tata Motors, CCI
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a gap up opening on Wednesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded higher as the index was up 137 points or 0.62% at 22,084 indicating a positive start for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 dipped 1,379.40 points or 5.93% to settle at 21,884.50, while the BSE Sensex tanked 4,389.73 points or 5.74% to close at 72,079.
Stocks to watch on June 05, 2024
Infosys
Infosys on Tuesday announced its collaboration with Nihon Chouzai (TSE), Japan’s dispensing pharmacy chain, in order to expand healthcare access in…