Latest news with #KotakAlternateAssetManagers
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Business Standard
03-08-2025
- Business
- Business Standard
Use any tariff-triggered market correction to buy, says Jitendra Gohil
India is in a unique position where the return on equity for BSE 500 companies is among the best globally, second only to the US, says Gohil Listen to This Article Foreign investors are increasingly viewing India as a distinct market rather than a subset of the broader emerging market (EM) basket, says Jitendra Gohil, chief investment strategist, Kotak Alternate Asset Managers, in an email interview with Puneet Wadhwa. Edited excerpts: How do you interpret Donald Trump's tariffs on India from a market standpoint? A 25 per cent tariff could spark some knee-jerk market reaction. The rupee might weaken further. Still, given India's limited reliance on exports, this alone is unlikely to throw its macroeconomic (macro) stability or growth prospects off course. Tariffs should also be viewed in the context of
The Wire
04-07-2025
- Business
- The Wire
Marathon Nextgen Realty Raises Rs. 900 Crore Through Qualified Institutions Placement
Overwhelming Response from Premier Domestic and International Institutional Investors Validates Company's Growth Strategy MUMBAI, India, July 4, 2025 /PRNewswire/ -- Marathon Nextgen Realty Ltd (BSE: 503101) (NSE: MARATHON) ("MNRL"), one of Mumbai's leading real estate development companies, has successfully completed a Qualified Institutions Placement (QIP), raising Rs. 900 crore (US$ 105 million). The QIP proceeds will primarily be used as growth capital, enabling the company to expand its development pipeline and invest in high-potential opportunities across the Mumbai Metropolitan Region. This capital infusion will further strengthen the company's financial foundation with its net debt-to-equity ratio expected to reduce further from the current 0.46 following the planned debt reduction. The QIP was executed through the issuance of 1,62,12,406 equity shares at ₹555.13 per share (face value ₹5 each). The offering, which closed on June 30, 2025, attracted strong participation from leading institutional investors including Quant Mutual Fund, Kotak Alternate Asset Managers, and Samco Mutual Fund, among others. This QIP has significantly enhanced MNRL's institutional investor base, with Foreign Institutional Investor (FII) holding increasing to 9.9% and Domestic Institutional Investor (DII) holding rising to 16.66% post-issue. Management Commentary Mr. Chetan Shah, CMD of MNRL, said, "This successful capital raise of Rs. 900 crore represents a decisive vote of confidence from marquee institutional investors in our strategic vision and execution capabilities. The Indian real estate sector is witnessing unprecedented momentum creating substantial opportunities for well-positioned players like MNRL. Our demonstrated track record of delivering projects on time, coupled with our strategic land bank and robust project pipeline, positions us exceptionally well to capitalize on this sector upswing. Additionally, our recently approved amalgamation scheme—bringing promoter group entities and their assets under the MNRL—will consolidate our land bank, projects and inventory, creating an efficient operating structure with better corporate governance. We are at a strategic inflection point, equipped with the right capital, a robust asset base, and a clear long-term vision to drive the next phase of MNRL's evolution." Use of Proceeds The proceeds from the QIP will be utilized strategically across the following areas: Strategic Priority Allocation Percentage Debt Reduction ₹340 crore 38 % Land Acquisition and development rights ₹300 crore 33 % Fund on-going projects ₹160 crore 18 % General Corporate Purposes ₹100 crore 11 % Distinguished Investor Participation The QIP saw participation from a prestigious group of domestic and international institutional investors, including: Domestic Institutional Investors: Foreign Institutional Investors: Quant Mutual Fund Samco Mutual Fund Kotak Alternate Asset Managers SageOne Investment Managers Buoyant Capital Brescon Opportunities Fund Maybank Securities Morgan Stanley Asia Citigroup Global Markets Nomura Singapore Limited North Star Opportunities Fund Zeta Global Funds Eminence Global Fund PCC Necta Bloom VCC The complete Placement Document is available for detailed information About Marathon Group For over 53 years now, Marathon Group has been helping shape Mumbai's skyline. Founded in 1969 by Ramniklal Zaverbhai Shah, the Group has completed over 100 projects in the city with a portfolio encompassing townships, affordable housing, luxury residential, retail, small business spaces, and corporate parks. Marathon is design-driven and engineering-focused with a leadership team comprising of technocrats. Mr. Chetan Shah, Chairman & Mr. Mayur Shah, Vice-Chairman, have completed their engineering from US and the third generation of the company comprising of the three heads of projects –Mr. Kaivalya Shah, Mr. Parmeet Shah, and Mr. Samyag Shah are highly qualified having completed their education from US and bring decades of real estate experience. Marathon has strong in-house capabilities in design, engineering, execution, marketing, and sales, and prides itself on its transparency and customer-centricity. The Group has ongoing projects and land banks at Lower Parel, Byculla, Mulund, Bhandup, Thane, Dombivli and Panvel. More information is available at Disclaimer Some of the statements in this communication may be 'forward-looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the company's operations include changes in the industry structure, significant changes in the political and economic environment in India and overseas, tax laws, duties, litigation, and labour relations. Photo: Logo: (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.).
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Business Standard
23-06-2025
- Business
- Business Standard
Israel's TA-125 at new peak even as tensions flare with US strikes on Iran
Rising tensions in West Asia have not deterred the Israeli stock market, with the benchmark index surging to record highs despite fresh concerns following US strikes on Iran. Israel's TA-125 rose 2.2 per cent on Sunday to a fresh high of 2,931.9, just after the US struck three nuclear sites in Iran. Since the beginning of the latest attacks on June 13, the index has risen nearly 7.5 per cent, while the MSCI Asia ex Japan has fallen by 0.63 per cent. In the year so far, the TA-125 index has risen 18.9 per cent, while the MSCI Asia ex Japan and MSCI World indices are up 11.2 per cent and 4.83 per cent, respectively. Over the weekend, the US struck three nuclear sites in Iran with bunker-busting bombs, ending speculation of its involvement in the ongoing conflict in the region. US President Donald Trump declared the three facilities 'totally obliterated,' and warned of greater attacks unless Iran makes peace with Israel. Following the strikes, Iran vowed to retaliate, warning the US of "dire consequences" and has reportedly approved the closure of the Strait of Hormuz. Asked about the Strait, Iran's Foreign Minister Seyed Abbas Aragchi said that 'a variety of options" are available to Iran, adding that the country would defend itself by all means necessary. Why is Israeli stock market surging? The market is rising as investors and global markets bet on a contained conflict and limited escalation following the US strikes on Iran, according to analysts. There was initial concern that oil prices would spike and Asian markets would open sharply lower. However, that didn't happen, according to G Chokkalingam, founder and chief investment officer at Equinomics Research. He believes this indicates that both the equity and oil markets expect the situation to de-escalate, possibly leading to negotiations rather than a broader conflict. Regarding the Israeli market, its total market capitalisation is only around $429 billion, with equities accounting for $216 billion, Chokkalingam said. "This means even small domestic or foreign inflows can significantly impact the index." Additionally, confidence may stem from the US backing of Israel, which reassures investors that the economic impact will be limited, Chokkalingam said. "Unlike during the Ukraine war, when oil jumped nearly 30 per cent, the Israel-Iran conflict has caused only an 11 per cent rise in oil prices, reinforcing the belief that the war may remain localised and short-lived." Further, it is a preconceived notion that geopolitical tensions may lead to stock market corrections, analysts had noted earlier. "In fact, heightened geopolitical tensions can lead to more fiscal and monetary easing, and the market loves loose policies," according to Jitendra Gohil, chief investment strategist at Kotak Alternate Asset Managers. Back home, stock markets fell over 1 per cent in early trade, tracking cues from their Asian peers. As of 12:40 PM, the BSE Sensex index was at 81,828.57, lower by 575.47 points or 0.70 per cent, while the Nifty50 was at 24,942.95, down 169.45 points or 0.67 per cent.
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Business Standard
17-06-2025
- Business
- Business Standard
Israel stock market shrugs off war concerns as TA-125 trades near record
Equity markets in Israel remained resilient, with benchmark indices hitting record highs despite continued deadly missile strikes exchanged with Iran for the fourth straight day. Even as the West Asia conflict sent shock waves to global stock market and sent crude oil prices soaring, Israel's TA-125 rose 2.7 per cent on Monday to a fresh high of 2,790.07. Since the beginning of the latest attacks on June 13, the index has risen nearly 3 per cent, while the MSCI Asia ex Japan has seen a mere 0.7 per cent gain. In the year so far, the TA-125 index has risen 14 per cent, while the MSCI Asia ex Japan and MSCI World indices are up 12 per cent and 6 per cent, respectively. Israel's stock market is at an all-time high, said Jitendra Gohil, chief investment strategist at Kotak Alternate Asset Managers, and it is a preconceived notion that geopolitical tensions may lead to stock market corrections. "In fact, heightened geopolitical tensions can lead to more fiscal and monetary easing, and the market loves loose policies. This won't be true in the case of countries that face sanctions (Iran, Venezuela, etc.), but today the US's ability to effectively implement sanctions has eroded. Look at Russia. The world is a very different place today, with multipolar forces emerging," Gohil said. On Friday, the Israeli military began airstrikes against Iran, targeting nuclear locations to block Tehran from developing atomic weapons, in an operation dubbed 'Rising Lion'. Israel's Defence Minister, Israel Katz, declared a state of emergency shortly after the strikes. The head of the Islamic Revolutionary Guard Corps, Hossein Salami, was killed in the strikes. The risk-off sentiment soared with oil prices spiking over 10 per cent, making it the biggest weekly gain since 2022. Brent prices can touch $150 a barrel (bbl) — up a whopping 103 per cent from the current levels — in the worst-case scenario if the Israel–Iran geopolitical tensions escalate, suggest analysts. Read more Back home, stock markets remained cautious on hopes that high oil prices would not always dampen market sentiment. The BSE Sensex index was at 81,604.18, lower by 192 points or 0.23 per cent, while the Nifty50 was at 24,890.2, down 56 points or 0.22 per cent. Despite the escalation of the Iran-Israel conflict globally, stock markets are steady and resilient, according to VK Vijayakumar, Chief Investment Strategist, Geojit Investments. "The decline in the US volatility index CBOE suggests that markets are unlikely to correct sharply unless the conflict takes a dramatic turn for the worse."
Time of India
12-05-2025
- Business
- Time of India
Markets could Start a Relief Rally amid India-Pak Pause
Equity indices are poised for a relief rally Monday after the weekend announcement of a 'pause' in hostilities with Pakistan, although the breather could well be short-lived if the situation along the border were to worsen yet again. #Operation Sindoor India responds to Pak's ceasefire violation; All that happened India-Pakistan ceasefire reactions: Who said what Punjab's hopes for normalcy dimmed by fresh violations Both benchmark indices declined around 1.3% over the past week, including a 1.1% fall on Friday, as concerns of a full-scale conflict prompted traders to liquidate their bets ahead of the weekend. 'There was apprehension among investors, especially at the fag end of the week, due to the rising tensions between India and Pakistan, which led to lightened positions,' said Lakshmi Iyer, CEO–Investment & Strategy, Kotak Alternate Asset Managers. 'The ceasefire is a big respite and is expected to trigger a relief rally on Monday.' Iyer noted that while markets may react positively to de-escalation, a sharp upmove is unlikely. Trading could remain choppy in the near term as geopolitical developments continue to weigh on sentiment, according to Iyer. The truce between India and Pakistan is shrouded in an uneasy calm, as both countries have accused each other of violating the ceasefire. The Volatility Index (VIX), often referred to as the market's fear gauge, surged 16.4% to 21.63 over the past five sessions, indicating heightened risk perception among traders. Foreign portfolio investors (FPIs) sold shares worth a net ₹3,798 crore on Friday—turning sellers for the first time in 16 trading sessions. Domestic institutional investors (DIIs) bought shares worth ₹7,278 crore. So far in May, FPIs have bought equities worth ₹9,257.95 crore after purchasing ₹3,416.08 crore in April. 'The markets were holding up despite the geopolitical noise. Now that some uncertainty has receded, they are expected to breathe a little easier,' said Mahesh Patil, CIO, Aditya Birla Sun Life AMC. Patil said traders who built bearish positions ahead of the weekend could not rush to liquidate their positions and that could push the markets higher. Still, he warned that current valuations remain elevated, which may limit any sharp rally. Iyer also expects the upside to be capped. 'When the conflict first broke out, the markets didn't crash in a big way. So while there may not be a sharp rebound, respite buying is expected now that some uncertainty is out of the way,' Iyer said. Patil noted that domestic investors had been cautious in deploying funds, and this withheld capital could gradually enter the markets in the coming days.
