Latest news with #SiddarthBhamre
Time of India
3 days ago
- Business
- Time of India
Indices decline 1% amid rising crude prices and geopolitical tensions
Indian equity markets experienced a 1% decline on Thursday, triggered by escalating tensions in West Asia and the subsequent surge in crude oil prices. Geopolitical uncertainty, coupled with a plane crash, dampened investor sentiment, leading to significant selling pressure from foreign portfolio investors. While domestic institutions provided some support, broader market indices reflected the prevailing caution. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: India's equity indices shed 1% on Thursday as a flare-up in tensions in West Asia and a resultant rebound in crude prices soured investor US on Wednesday withdrew personnel from West Asia, citing heightened security risks in the region, which resulted in Brent crude futures rising by 4% before they pulled back on Thursday. According to news reports, Israel is preparing to mount an attack on Iran, a move that is seen as destabilising the Middle Sensex fell 823 points to close at 81,692. The Nifty declined 253 points to end at 24,888."The market was already weak in the morning today because of the geopolitical tensions, but the sharper sell-off happened after the unfortunate plane crash in the afternoon. Though there is no direct correlation, that had an impact on sentiment," said Siddarth Bhamre, head of institutional research at Asit C Mehta Investment Intermediates. Foreign portfolio investors continued to sell, dumping shares worth ₹3,831 crore on Thursday. Domestic institutions were buyers of ₹9,394 crore. The flows from local institutions included the purchase of Asian Paints in the block deal that was transacted on in Asia, China ended almost flat, Hong Kong fell 1.4% and Taiwan dropped 0.8%. South Korea rose 0.5%. The pan-Europe index Stoxx 600 was down 0.6% at the time of going to home, NSE's Volatility Index, or VIX, firmed up 2.5% to 14, reflecting the caution in the market. The next major support for the Nifty is at 24,700, while 25,000 could be a hurdle for the Midcap 150 dropped 1.5% and Nifty Small-cap 250 fell 1.4%. Of the 4,151 shares traded on BSE, 2,780 declined, while 1,226 advanced."There is a fair bit of rotation happening between small-cap, mid-cap and large-caps as investors are looking to churn at every opportunity available," said Jani, director, Finazenn - an investment advisory, does not see this as a start of a trend reversal."Broadly, there are no major downside risks in the market unless geopolitical risks escalate," he said.
Time of India
05-05-2025
- Business
- Time of India
End of Lock-in: Investors may sit tight, but supply can limit upside
Mumbai: The lock-in period for shares of 20 companies that mostly made their stock market debuts in the past 3-6 months is set to end in May. These shares, part of the placements to promoters and investors done before the initial public offerings (IPOs), are worth about $13.5 billion, according to Nuvama Alternative . The lifting of the lock-in does not mean all these investors will rush to offload their holdings. But the risk of supply of shares could put a lid on their gains in the near term. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Of the total $13.5 billion set to be unlocked this month, Nuvama estimates shares of Swiggy make up for more than half, or over $7 billion, in value. Swiggy shares worth about $7 billion are set to be freed up on May 13 that constitutes nearly 85% of the company's outstanding shares, said Nuvama. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Sagility India , Niva Bupa Health Insurance, Aadhar Housing Finance and Tata Technologies are among the other large companies whose lock-in period for pre-IPO shareholders is coming to an end. "Investors in IPOs, whose shares will be unlocked in the coming weeks, will evaluate alternative investment opportunities and their cost of capital before deciding to sell," said Siddarth Bhamre, head of institutional Research at Asit C Mehta. "Many of these investors are currently sitting on losses and so, there is no immediate pressure to sell." Live Events Agencies Between April 30 and July 28, a total of 58 companies are slated to have their pre-listing shareholder lock-ins worth $26 billion lifted, said Abhilash Pagaria, Head - Nuvama Alternative & Quantitative Research. "It's important to note that not all of these shares will come for sale as a sizeable portion of these shares are also held by the promoter and the group," he said. According to regulations, anchor investors in an IPO face a lock-in period of 90 days for 50% of their allotted shares from the date of allotment and 30 days for the remaining 50%. Other investors have a lock-in period of six months, while for promoters, the lock-in requirement is 18 months for allotments up to 20% of the post-issue paid-up capital. For allotments exceeding 20%, the lock-in period is six months. Pagaria said Swiggy has underperformed since listing, and had many high networth individuals (HNIs) as its pre-IPO investors. The stock is down nearly 22% from its debut on November 13. The demand for recently-listed stocks is relatively muted, said Apurva Sheth, head of research at Samco Securities. "In general, there is less demand for these stocks, and they may not move up for the next few months until this supply is absorbed by the markets," said Sheth. Bhamre said any rise in share prices could prompt some selling, potentially capping further upside in the near term, but significant selling pressure could be limited.
