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Look who was swimming naked! Most newly-listed stocks take a hard knock SECTIONS Share Synopsis Price data shows as many as seven listings of this calendar, many of which happened to be from the Covid-hit sectors, have fallen up to 27 per cent from their issue price. Others, too, have trimmed their post-listing gains. When Kalyan Jewellers India IPO hit the market, analysts had cited a weak balance sheet, poor capital allocation and poor track record of jewellery listings in the past to warn investors against subscribing to the issue. Yet the issue sailed through. (Representative image) Related NEW DELHI: Warren Buffett says, “You only find out who is swimming naked when the tide goes out.” ....
Ashmore Investmentsays value investing is never fun, it is very painful. There are businesses out there in retail, in entertainment, in travel and tourism, in hospitality which will survive and they will emerge stronger because the competition will be weaker. These are the times when you buy these stocks. What is your outlook when it comes to the recent spate of IPOs that have hit the markets? Quite a few non-conventional names have come into the market playing the overall digitisation play. Is there anything in particular that catches your eye? There are two questions embedded there and let me separate them; one is demand and supply of paper. Typically when markets are very strong, supply of paper increases and usually the market tops are accompanied by buyers stepping away and lower quality issues increasing at the margin. That is a typical development at the top of the market. This time around, most of the issues are unique. Some of them are in areas which were not open ....
Explore Now Kolkata: Marquee investors and bond funds including Pacific Investment Management (Pimco), Goldman Sachs Asset Management, Fidelity, BlackRock, TIAA, Loomis Sayles, Nan Shan Life, Ashmore Investment and Amundi Asset Management are believed to have participated in Bharti Airtel’s $1.25-billion overseas fundraise through a mix of senior and perpetual bonds. “Proceeds will be used for capex, repayment of existing indebtedness, and/or any other purpose in compliance with end-use guidelines set forth in FEMA ECB regulations and all other applicable laws and regulations,” Airtel said in an exchange filing on Thursday. The Sunil Mittal-led telco said it priced $750 million worth of senior 10.25-year bonds at a yield of 187.5 basis points for an implied coupon of 3.250%. Network i2i, Airtel’s wholly owned Mauritius arm, in turn, priced $500 million of guaranteed subordinated perpetual 5.25-year bonds at a coupon of 3.975%. ....
airtel | goldman sachs: PIMCO, Goldman Sachs, Fidelity, BlackRock subscribe to Airtel's overseas bonds indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Financials to be big beneficiary of economic revival: Ashwini Agarwal SECTIONS Last Updated: Feb 23, 2021, 05:36 PM IST Share Synopsis The co-founder of Ashmore Investment says markets are not in any danger. He also says shift to domestic economy linked stocks is not over yet. ETMarkets.com NSE A compulsive bull like you would always try to call it a minor adjustment but looking at what is happening to crude and how metal prices have gone higher and how bond yields have sold off in the US, are we in a spot of bother now? I do not think so. We may see a correction in the broad market simply because we have had such a strong run without any meaningful correction all the way from May 2020 till now. It is possible that the correction continues purely because it needs a breather. I am not worried that the rising oil price or rising metal prices can play a significant spoilsport to the earnings forecast that we see going ahead. First of all, just to ....