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Gulf Today
7 days ago
- Business
- Gulf Today
BHM Capital extends its heartfelt congratulations to Lulu Retail Holding on the occasion of its inclusion in the FTSE Emerging Markets Index
Gulf Network BHM Capital extends its heartfelt congratulations to the Board of Directors and Executive Management of Lulu Retail Holding on the occasion of its inclusion in the FTSE Emerging Markets Index—a new milestone that reflects the company's leading position in the retail sector and affirms global market confidence in its performance. This achievement comes as part of a series of successes by several listed companies that have entrusted and appointed BHM Capital as the stablizing agent and/or liquidity provider. The list includes companies listed in DFM and ADX such as Gulf Navigation Holding, Waha Capital, Taaleem, Ajman Bank, Abu Dhabi National Hotels, Abu Dhabi Catering and Hotels, Phoenix, Dubai Taxi, and Spinneys. The inclusion of listed companies in any of the global indecies is a highly recognized and significant step toward expanding the investor base and enhancing the presence of UAE companies on the investment map of international investors. On this occasion, we once again extend our sincere thanks and appreciation to the Boards of Directors and Executive Management of these leading companies for their trust in BHM Capital as a reliable partner in supporting their investment strategies, and for their active role in the development of the UAE's capital markets.
Mint
21-04-2025
- Business
- Mint
Eternal share price volatile on foreign shareholding cap: What does it mean for business and MSCI weightage? EXPLAINED
Eternal, formerly known as Zomato, shares were volatile on Monday following the company's decision to cap foreign shareholding at 49.5%. Eternal share price initially fell over 2% but later recovered, rising as much as 1.48% to an intraday high of ₹ 235.20 on the BSE. The company's board approved the proposal on April 18, which now awaits shareholder approval via postal ballot, with results expected by May 21, 2025. Once approved, the cap will be implemented immediately. As of March 31, 2025, Foreign Institutional Investors (FIIs) held 44.88% in Eternal, while Indian ownership stood at 55% — meeting the requirement to qualify as an Indian - Owned - and - Controlled Entity (IOCC). Eternal said the move aims to preserve its IOCC status, aligning with regulatory norms and enabling greater operational flexibility — especially for its quick commerce arm, Blinkit. Currently, Blinkit operates as a marketplace with third-party sellers. As an IOCC, Blinkit can transition to an inventory-led model — owning and managing its own stock. According to Kotak Institutional Equities, this shift would allow Blinkit to expand into new categories such as home décor, gourmet foods, toys, and seasonal products. While the change would increase working capital requirements, it is expected to boost margins and return on capital employed (ROCE) over the long term. Kotak estimates a 40–50 basis points improvement in margins, even though it would lead to a heavier balance sheet. Blinkit, as an IOCC, will stand on par with domestic retail giants like Reliance and DMart, and gain a potential edge if future regulations favor IOCCs. Among e-commerce players, Blinkit would be the only IOCC, while competitors like Swiggy, Zepto, Flipkart, and Amazon have significantly lower domestic ownership. Analysts warn that capping foreign ownership could reduce Eternal's weight in global indices, prompting passive fund outflows. MSCI Impact: Eternal's weight in the MSCI Standard Index (currently 1.33%) may be halved due to reduced FII headroom. This could lead to outflows of ~$600 million or around 226 million shares, equal to 2.7 days of trading volume. FTSE Impact: Eternal could be fully removed from the FTSE Emerging Markets Index. Outflows may total ~$100 million per quarter (37 million shares), spread across 4–5 quarterly reviews. However, if FII headroom improves above 10%, further reductions could be paused. While index-related outflows may cause short-term pressure on the stock, analysts see no major long-term derating risk. 'A potential price correction of approximately 5%+/- may result from this development. However, I don't perceive this as a significant derating scenario for the stock. Based on my interactions with domestic clients, there's evident interest in accumulating the stock should it decline below ₹ 205 or ₹ 210, compared to the current market price of ₹ 230,' said Abhilash Pagaria of Nuvama Alternative & Quantitative Research. Eternal share price has risen 2.5% in one month and more than 8% in three months. Over the past six months, Eternal shares declined 12%, while the stock rallied 23% in one year. Eternal stock price has delivered multibagger returns of 316% in two years. At 12:35 PM, Eternal shares were trading 0.58% higher at ₹ 233.10 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions. First Published: 21 Apr 2025, 12:36 PM IST
Al Bawaba
17-04-2025
- Business
- Al Bawaba
Markaz Market Maker Desk Solidifies Leadership with Strong 2024 Performance
Kuwait Financial Centre 'Markaz' has reinforced its financial market leadership through the exceptional performance of its Market Maker Desk in 2024. The desk successfully traded KD 762 million, accounting for 33.4%, on average, of the total trading value within the market maker portfolio, and representing 5.1% of the total market trading value on Boursa Kuwait. These results highlight Markaz's expertise in market making and its ability to drive liquidity, enhance market efficiency, and create tangible value for a diverse range of blue chip and small-sized companies. With a diversified portfolio encompassing 15 listed companies across various sectors, Markaz continues to lead among Kuwait's largest market 2024, Markaz played a leading role in maintaining or securing Premier Market positions for 10 listed companies in Kuwait. Two additional companies, Combined Group Contracting Co. and Al Eid Food Co., also entered the watchlist for Premier Market eligibility. These achievements demonstrate the effectiveness of Markaz's market-making strategies in strengthening the market positioning of its portfolio by deep sectoral expertise and advanced trading infrastructure, Markaz is one of the largest market-making desks in Kuwait. The company continues to lead in providing financial solutions that enhance stability, price discovery, and overall trading activity. Markaz was also among the first financial institutions in Kuwait to obtain a Market Maker license from the Capital Markets Authority (CMA), reflecting its commitment to fostering a well-functioning and liquid financial market. The company's approach to market making is rooted in a data-driven strategy that ensures listed companies meet liquidity requirements for Premier Market status while simultaneously contributing to a dynamic and efficient trading Azzam B. Al-Otaibi, Assistant Vice President, MENA Equities at Markaz said: 'We are proud to be among the first financial institutions to obtain a Market Maker license from Kuwait's Capital Market Authority (CMA). Today, our market maker portfolio comprises of a diverse set of 15 companies across different segments of Boursa Kuwait, 10 of which are listed on the Premier Market. Over the past year, we have played a key role in supporting consistent trading activity and enhancing overall trading efficiency across our portfolio.'Mr. Al-Otaibi added: 'Market making continues to have a profound impact, not only on local investors and the Kuwaiti market but also on the international stage. Increased trading activity has helped position companies in our portfolio for inclusion in key global indices, such as the FTSE Emerging Markets Index and the KIA Shariah Index, further reinforcing Kuwait's position in the global financial landscape.'With over 50 years of leadership in financial services, Markaz has consistently been at the forefront of investment banking and asset management in the region. The company has pioneered a range of innovative financial products and services, including Mumtaz, Kuwait's first domestic mutual fund; MREF, the first real estate investment fund in Kuwait; and Forsa Financial Fund, the first options market maker in the GCC since 2005. Markaz also launched the GCC Momentum Fund, the first passive fund of its kind in Kuwait and the wider GCC, which was awarded Best Momentum Fund Innovation by Global Finance in its first year. Its commitment to excellence and strategic market-making expertise continues to support the growth and development of Kuwait's capital markets, reinforcing its reputation as a leader in financial innovation. As Kuwait's capital markets evolve, Markaz remains committed to expanding its market-making role and empowering listed companies with the tools needed to thrive in a competitive financial environment. Markaz's role as market maker is based on its firm belief in the importance of this tool on the financial markets and the shares of listed companies. The market maker service aim to create a balance between supply and demand, bridge the gap between the buying and selling prices, thus narrowing down bid-ask spreads to enhance trading efficiency. Market making can positively affect companies' borrowing costs, and aids in price discovery. Market making services also support the overall development of the Kuwaiti economy by motivating companies to list their shares on the national stock exchange.
Arab Times
16-04-2025
- Business
- Arab Times
Markaz Market Maker Desk Solidifies Leadership with Strong 2024 Performance
KUWAIT CITY, Apr 16: Kuwait Financial Centre 'Markaz' has reinforced its financial market leadership through the exceptional performance of its Market Maker Desk in 2024. The desk successfully traded KD 762 million, accounting for 33.4%, on average, of the total trading value within the market maker portfolio, and representing 5.1% of the total market trading value on Boursa Kuwait. These results highlight Markaz's expertise in market making and its ability to drive liquidity, enhance market efficiency, and create tangible value for a diverse range of blue chip and small-sized a diversified portfolio encompassing 15 listed companies across various sectors, Markaz continues to lead among Kuwait's largest market makers. Throughout 2024, Markaz played a leading role in maintaining or securing Premier Market positions for 10 listed companies in Kuwait. Two additional companies, Combined Group Contracting Co. and Al Eid Food Co., also entered the watchlist for Premier Market eligibility. These achievements demonstrate the effectiveness of Markaz's market-making strategies in strengthening the market positioning of its portfolio companies. Backed by deep sectoral expertise and advanced trading infrastructure, Markaz is one of the largest market-making desks in Kuwait. The company continues to lead in providing financial solutions that enhance stability, price discovery, and overall trading activity. Markaz was also among the first financial institutions in Kuwait to obtain a Market Maker license from the Capital Markets Authority (CMA), reflecting its commitment to fostering a well-functioning and liquid financial market. The company's approach to market making is rooted in a data-driven strategy that ensures listed companies meet liquidity requirements for Premier Market status while simultaneously contributing to a dynamic and efficient trading environment. Mr. Azzam B. Al-Otaibi, Assistant Vice President, MENA Equities at Markaz said: 'We are proud to be among the first financial institutions to obtain a Market Maker license from Kuwait's Capital Market Authority (CMA). Today, our market maker portfolio comprises of a diverse set of 15 companies across different segments of Boursa Kuwait, 10 of which are listed on the Premier Market. Over the past year, we have played a key role in supporting consistent trading activity and enhancing overall trading efficiency across our portfolio.' Mr. Al-Otaibiadded: 'Market making continues to have a profound impact, not only on local investors and the Kuwaiti market but also on the international stage. Increased trading activityhas helped position companies in our portfolio for inclusion in key global indices, such as the FTSE Emerging Markets Index and the KIA Shariah Index, further reinforcing Kuwait's position in the global financial landscape.' With over 50 years of leadership in financial services, Markaz has consistently been at the forefront of investment banking and asset management in the region. The company has pioneered a range of innovative financial products and services, including Mumtaz, Kuwait's first domestic mutual fund; MREF, the first real estate investment fund in Kuwait; and Forsa Financial Fund, the first options market maker in the GCC since 2005. Markaz also launched the GCC Momentum Fund, the first passive fund of its kind in Kuwait and the wider GCC, which was awarded Best Momentum Fund Innovation by Global Finance in its first year. Its commitment to excellence and strategic market-making expertise continues to support the growth and development of Kuwait's capital markets, reinforcing its reputation as a leader in financial innovation. As Kuwait's capital markets evolve, Markaz remains committed to expanding its market-making role and empowering listed companies with the tools needed to thrive in a competitive financial role as market maker is based on its firm belief in the importance of this tool on the financial markets and the shares of listed companies. The market maker service aim to create a balance between supply and demand, bridge the gap between the buying and selling prices, thus narrowing down bid-ask spreads to enhance trading efficiency. Market making can positively affect companies' borrowing costs, andaids in price discovery. Market making services also support the overall development of the Kuwaiti economy by motivating companies to list their shares on the national stock exchange.
Zawya
16-04-2025
- Business
- Zawya
Markaz Market Maker Desk solidifies leadership with strong 2024 performance
Kuwait: Kuwait Financial Centre 'Markaz' has reinforced its financial market leadership through the exceptional performance of its Market Maker Desk in 2024. The desk successfully traded KD 762 million, accounting for 33.4%, on average, of the total trading value within the market maker portfolio, and representing 5.1% of the total market trading value on Boursa Kuwait. These results highlight Markaz's expertise in market making and its ability to drive liquidity, enhance market efficiency, and create tangible value for a diverse range of blue chip and small-sized companies. With a diversified portfolio encompassing 15 listed companies across various sectors, Markaz continues to lead among Kuwait's largest market makers. Throughout 2024, Markaz played a leading role in maintaining or securing Premier Market positions for 10 listed companies in Kuwait. Two additional companies, Combined Group Contracting Co. and Al Eid Food Co., also entered the watchlist for Premier Market eligibility. These achievements demonstrate the effectiveness of Markaz's market-making strategies in strengthening the market positioning of its portfolio companies. Backed by deep sectoral expertise and advanced trading infrastructure, Markaz is one of the largest market-making desks in Kuwait. The company continues to lead in providing financial solutions that enhance stability, price discovery, and overall trading activity. Markaz was also among the first financial institutions in Kuwait to obtain a Market Maker license from the Capital Markets Authority (CMA), reflecting its commitment to fostering a well-functioning and liquid financial market. The company's approach to market making is rooted in a data-driven strategy that ensures listed companies meet liquidity requirements for Premier Market status while simultaneously contributing to a dynamic and efficient trading environment. Mr. Azzam B. Al-Otaibi, Assistant Vice President, MENA Equities at Markaz said: 'We are proud to be among the first financial institutions to obtain a Market Maker license from Kuwait's Capital Market Authority (CMA). Today, our market maker portfolio comprises of a diverse set of 15 companies across different segments of Boursa Kuwait, 10 of which are listed on the Premier Market. Over the past year, we have played a key role in supporting consistent trading activity and enhancing overall trading efficiency across our portfolio.' Mr. Al-Otaibi added: 'Market making continues to have a profound impact, not only on local investors and the Kuwaiti market but also on the international stage. Increased trading activity has helped position companies in our portfolio for inclusion in key global indices, such as the FTSE Emerging Markets Index and the KIA Shariah Index, further reinforcing Kuwait's position in the global financial landscape.' With over 50 years of leadership in financial services, Markaz has consistently been at the forefront of investment banking and asset management in the region. The company has pioneered a range of innovative financial products and services, including Mumtaz, Kuwait's first domestic mutual fund; MREF, the first real estate investment fund in Kuwait; and Forsa Financial Fund, the first options market maker in the GCC since 2005. Markaz also launched the GCC Momentum Fund, the first passive fund of its kind in Kuwait and the wider GCC, which was awarded Best Momentum Fund Innovation by Global Finance in its first year. Its commitment to excellence and strategic market-making expertise continues to support the growth and development of Kuwait's capital markets, reinforcing its reputation as a leader in financial innovation. As Kuwait's capital markets evolve, Markaz remains committed to expanding its market-making role and empowering listed companies with the tools needed to thrive in a competitive financial environment. Markaz's role as market maker is based on its firm belief in the importance of this tool on the financial markets and the shares of listed companies. The market maker service aim to create a balance between supply and demand, bridge the gap between the buying and selling prices, thus narrowing down bid-ask spreads to enhance trading efficiency. Market making can positively affect companies' borrowing costs, and aids in price discovery. Market making services also support the overall development of the Kuwaiti economy by motivating companies to list their shares on the national stock exchange. About Kuwait Financial Centre 'Markaz' Established in 1974, Kuwait Financial Centre K.P.S.C 'Markaz' is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.41 billion (USD 4.57 billion) as of 31 December 2024. Markaz was listed on the Boursa Kuwait in 1997. Over the years, Markaz has pioneered innovation through the creation of new investment channels. These channels enjoy unique characteristics and helped Markaz widen investors' horizons. Examples include Mumtaz (the first domestic mutual fund), MREF (the first real estate investment fund in Kuwait), Forsa Financial Fund (the first options market maker in the GCC since 2005), and the GCC Momentum Fund (the first passive fund of its kind in Kuwait and across GCC that follows the momentum methodology), all conceptualized, established, and managed by Markaz.
