Markets at a New High – Sensex at 44K levels
Keeping aside the Corona & Lockdown fear, our economy & the stock markets are upbeat on the future and the surge continues. Some of the indicators from today’s Economic Times, to Cheer us up 😉.
Business recovery at a New High: The Nomura India Business resumption index (NIBRI) touched 87.1 for the last week, against 84.4 the previous week.
Car industry on a High Gear: Maruti being the market leader, has revised its annual production target recently, based on demand & long order book in hand. Earlier it was expecting a 20% decline, with analysts predicting 13-14%, which they have revised it to 5-8% now. Other manufacturers like Hyundai, M&M & Tata, all are all sitting on a strong order book & demand, thereby helping the passenger vehicle industry to an early revival.
IPO Market warms up: Come December, and we have half a dozen companies eyeing for raising funds through IPO. So far in 2020, 12 companies have raised funds through IPO, with the majority of them yielding handsome returns.
Companies likely to raise (IPO) in Dec: Kalyan Jewellers – 1750crs, Suryoday Small Fin Bank – 1000crs, ESAF Small Finance Bank – 1000crs, Nazara Technologies – 950crs, Burger King – 900crs, RailTel – 700crs, & Antony Waste Management – 350crs.
Photo Credit: Economics Times