Mark to Market

DHFL’s acquisition would be a positive for Piramal Enterprises despite the short-term requirement of a large capital infusion. Even so, Piramal Enterprises must guard against buyer’s remorse as it sets to acquire DHFL. Why is that? Tune in here to find out.

Automobile companies have benefited from a strong festival season show. This is expected to reflect in the December quarter results but higher input costs could play spoilsport.

It has been 13 days into the New Year and some old trends are still playing out. One is that of dollar outflows from India’s bond markets. India’s equity market continues to see record dollar inflows but foreign investors are still exiting bonds. What gives? Tune in here to find out more.

Avenue Supermarts' is recovering at a faster pace than expected. Q3FY21 revenues grew by 10%, marking a reversal in the trend of revenue drop seen in the first half of FY21. Tune in here to find out more.

Banking shares have been one of the biggest gainers in the recent equity market rally. But can banks show the performance to justify the gains? December quarter results may show mostly healthy numbers but stress is still lurking in the balance sheets of lenders.

Shares of Info Edge (India) have risen about 11% so far in 2021, taking its rise compared to the lows of March to over 200%. Many analysts are struggling to justify valuations. What are the reasons behind the meteoric rise in the stock price? Tune in here to find out.

After forging several JV with Ford is the latest move in this regard. What are the implications? Listen in to find out. 

Larsen & Toubro Ltd's market cap is currently at Rs 1.8 trillion, the exact same levels as three years ago. Actually, things would have been far worse, but for the stellar performance of its IT services subsidiaries. Why is that? The details are in this podcast. Listen in.

The aviation sector has been among the worst hit in 2020. Will 2021 bring any respite? Tune in here to find out what the new year can bring for Indian airlines.

The US government announced a stimulus package of $900 billion. While the jury is still out on whether this is enough to move the needle on recovery, it does pave the way for further US dollar weakness. Find out more about the US dollar outlook in this podcast.

With the final clutch of suitors competing intensely, the plot has turned in favor of DHFL's financial creditors. The valuation of DHFL has also gone up with revised bids. Listen in for more details on DHFL's resolution.

The RBI’s rate-setting committee is worried over inflation far more than its statement on 6 December showed. Minutes of the meeting reveal that members are closely monitoring the elevated inflationary pressures.

Going into 2021, emerging market (EM) equities are finding their lost charm again among investors. What is contributing to this rising popularity? What are the risks? Tune in here to find out more

Tata Consultancy Services stock has been seeing a good run in 2020 and is pricing in new opportunities, including cloud technology. Even so, the TCS stock has risen over 25% compared to pre-covid highs in February and valuations are not inexpensive. For more details, listen in.

ITC shares have surpassed the psychological barrier of Rs200 per share this week. But will the momentum sustain given the ESG concerns? Listen in, to find out.

A Mint report said Walmart is working towards an IPO for Flipkart, at a valuation of $40 billion. While the valuation seems like a stretch, note that share prices of some listed e-commerce firms in emerging markets have skyrocketed this year, helped by covid-19 led growth. But is that enough? Tune in to find out more. 

RBI has left its policy rate and stance untouched in its latest meeting. Contrary to market expectation, it has not indicated a change in its liquidity stance either. While this has relieved markets, economists are calling it curtains down for rate cuts.

Auto stocks have shown sharp gains in anticipation of positive data in November. Auto sales from passenger vehicles to commercial vehicles are growing fast and much of this is already priced in. It means that any negative surprises may hurt investor sentiment.

L&T’s shares have fired up off late? Investors are appreciating the firm’s efforts to deal with elevated debt and order inflows. Large order wins by the company have helped the stock but worries over margins remain.

Market research firm Nielsen predicts a mere 1.6% value growth for the FMCG sector for the September quarter. This goes against the aggregate growth reported by listed companies for the quarter. Who is right? Listen in to find out

Whoever stuck their neck out in the Gland Pharma IPO is already sitting on decent gains. For an issue that offered full allotment for every application in the non-institutional category, it’s been among the best-performing IPOs for investors. Tune in here for more details.

About a year ago, BPCL's shares had rallied to more than ₹500 on the back of hopes around its proposed privatization. But since then, the stock has lost about 20%. Tune in here to find out more about the BPCL stock.

Banking regulator RBI is likely to revisit the idea of allowing big industrial houses to enter the banking system. An internal working group has made some key recommendations which the regulator is likely to adopt. But before it gives out licences, the RBI may allow big NBFCs to turn themselves into banks first

Lakshmi Vilas Bank would be the third bank to get rescued by the RBI in a span of just a year. The fact that three banks went under highlights the unsavoury weak points of India’s banking system. What are the key takeaways? Listen in for details.

Investors are banking on Aurobindo’s US pharma revenues getting a boost on the back of improving injectable sales in the second quarter. But a part of that growth already seems to be reflecting in the stock price gains of about 86% in 2020. Find more details in this podcast. Listen in.

Indigo’s stock leads global airlines in big valuation gains. Increasing daily traffic, market share gains and a vaccine in the works is making Indigo fly higher than its pre-covid levels. The gush of liquidity in the equity markets is not hurting either.

Divi’s Laboratories stock has gained a whopping 83%. The firm’s capital expenditure plans has cheered investors. Its September quarter results too support the boost to valuations of the stock.

Gold loan companies are reaping benefits of a rise in gold prices and demand for emergency finance amid a pandemic. Both Manappuram Finance and Muthoot Finance reported a rise in asset under management growth for the September quarter. But will volatile gold prices upset this healthy trend?

HDFC, India’s largest mortgage lender showed quick recovery from the impact of Covid-19 pandemic in the September quarter. Collections efficiencies are close to pre-covid levels. Loan disbursements are looking up. All the lender now needs is to sustain this momentum for its premium valuations to stick.

Bharti Airtel stock’s one-year returns stood at over 100% in mid-February. But since Reliance Industries began its relentless fund raising spree, things have turned adverse for Airtel. Airtel’s Q2 results have shown the company’s resilience but its shares still trail that of Reliance Industries. Tune in to know more.

Axis Bank kept up with its cautious approach to asset quality in the September quarter notwithstanding encouraging signs of recovery in its balance sheet. Tune in to our podcast to find out more about the third largest private sector lender's performance last quarter.

Kotak Mahindra Bank kept to its conservative approach amid a pandemic, choosing to shrink its loan book to stave off risk in the September quarter. To find the key trends during Q2, listen to our podcast here:

RBI's newly minted rate-setting committee is looking beyond short-term boosts to growth. Minutes show that the MPC discussed the sovereign yield curve and its implications on investment. The focus was not limited to fixing the demand shock but of how to revive investments.

Consumer lender Bajaj Finance's September quarter performance showed that recovery from the covid-19 pandemic could be sluggish and long drawn. Tune in to find out more.

For a stock that trades at an exorbitant multiple of 149 times trailing twelve-month earnings, Avenue Supermarts Ltd's September quarter results are a bit disappointing. Avenue, runs the DMart chain of retail stores, reported a 12% drop in revenues year-on-year. Listen in to our podcasts to find out more.

Global IT giant Accenture is double the size of India's largest IT company TCS. Yet Accenture's valuations are comparatively far modest. What explains this divergence? Indian investors are far more excited about the prospects of IT companies than in the US. The difference, it seems, lies in the composition of Indian and US markets.

Infosys Ltd has been beating Tata Consultancy Services Ltd on growth metrics for a while now. Post-covid, the extent of outperformance has only increased. Listen in to our podcast to find out more details.

Finance minister Nirmala Sitharaman’s fiscal stimulus announcements in a press conference on Monday turned out to be a bit of a damp squib. What gives? Give our podcast a listen to find out more.

The RBI announced a series of measures on Friday that would give big benefits to the bond market. In fact, every prayer of the bond market got answered on Friday, even the silent ones. So what has the RBI done? 

The COVID-19 pandemic is said to have altered consumer behaviour drastically. For a consumer lender such as Bajaj Finance, the implications of this are already visible. Here's why. Tune in to our podcast by @PallaviPengonda to find out more.

Distressed Indians may soon get a relief on compound interest charged on their loans during the six-month moratorium period if the Govt.'s proposal gets legal sanction. But the Nifty bank index rose only slightly on Monday. What explains the muted sentiments?

The Embassy Office Parks real estate investment trust (REIT) has been performing well despite a post-covid world giving rise to the work from home culture. REITs such as Embassy Office Parks own, operate and finance real estate properties, mostly commercial real estate properties such as large office spaces, malls etc.

The initial public offering of Mazagon Dock Shipbuilders Ltd has kindled more retail interest than UTI Asset Management's public offer. What gives? Listen in to @livemint_m2m podcast by @PallaviPengonda to find out more.

The RBI needs to pick up the ball quickly and put in place a plan to revive Lakshmi Vilas Bank. Clearly, its prompt corrective action (PCA) hasn’t worked. So what is the best course of action? Tune in to find out the details.

The latest results of the global IT company Accenture PLC has given reasons to cheer to the investors of Indian IT companies. Outsourcing is where Indian companies have a greater presence. Analysts believe that India’s IT firms are likely to see a good run in the coming quarters. Tune in and find out. 

Shares of Bharti Airtel fell about 8% on Wednesday. This is after Reliance Jio announced new tariff plans in the postpaid mobile services segment with a number of freebies. For more details on the impact on telcos, tune in here with Pallavi Pengonda.

At the offer price, valuations of the CAMS stock may appear a bit stiff at about 35 times FY20 earnings. But given the current frenzy for initial public offerings (IPOs), the issue is expected to sail through. For more details on this IPO, do tune in here.

The 10-year benchmark government bond yield is an important metric that is tracked by everyone in the markets. This 10-year bond yield has risen by 25 basis points to about 6% in the last two months. In other words, risk-free borrowing cost has gone up and has increased other borrowing costs. Tune in for more..

Apollo Hospitals Enterprises Ltd’s Q1FY21 revenue contraction is no surprise amid the pandemic. While the firm has done well on the cost front, the stock's pricey valuations seem to factor the brighter picture adequately. You can find more details by tuning in here

Stocks of IT services companies got a shot in the arm after HCL Technologies Ltd surprised the Street with its pre-quarter earnings update. HCL’s better prospects raised hopes of an improvement in the entire industry’s performance in Q2. Unsurprisingly, HCL stock jumped by over 10% on Monday and the Nifty IT index rose 4.7%, making it the biggest gainer among sectoral indices on the NSE.

Shares of Tata Motors continue to underperform the benchmark Nifty Auto index even as the company is seeing a meaningful recovery in sales. To find out more tune in with Aparna in this episode of Mark to Market on Tata Motors.