Market Walk

World markets are going through the worst losing streak since the global financial crisis of 2008

World markets are going through the worst losing streak since the global financial crisis of 2008

D-Mart reported 7% increase in standalone net profits at Rs466 crore for Q4FY22

D-Mart reported 7% increase in standalone net profits at Rs466 crore for Q4FY22. Revenues for Q4 were up a robust 18% at Rs8,606 crore. During the quarter, the company had faced a disruption due to the Omicron wave which resulted in sales tapering. D-Mart has a total of 214 stores that are older than 2 years and these stores reported 16.7% yoy sales growth. In FY22, D-Mart added another 50 stores. D-Mart has an omnichannel approach and will offer ecommerce and brick-and-mortar experiences simultaneously.

The global benchmark, MSCI ACWI, has fallen 6 straight weeks

World markets are going through the worst losing streak since the global financial crisis of 2008 with more than $11 trillion wiped out from global markets. NASDAQ has fallen more than 30%. Analysts expect the global markets to fall further on high inflation, central bank hawkishness and weak growth. While some are seeing pockets of value, most analysts remain sceptical about value traps. The global benchmark, MSCI ACWI, has fallen 6 straight weeks. Amid fears of tepid GDP growth, defensive stocks are in heavy demand.

Paytm has started FY23 on a sound footing with lending business touching Rs.20,000 crore

Paytm has started FY23 on a sound footing with lending business touching Rs.20,000 crore and device deployment beyond the 32 lakh mark. Loan growth may appear impressive, but it is on a very small base. The monthly transacting users (MTU) came in at 7.35 crore in April, up 44% yoy. If one looks at the gross merchandise value (GMV) processed through Paytm in April 2022, it was up by an impressive 102% yoy. However, the stock price of Paytm continues to languish nearly 70% below the IPO price of Rs.2,150/share.

FPIs pulled out Rs25,200 crore from Indian equities in the first half of May 2022

Foreign portfolio investors (FPIs) pulled out Rs25,200 crore from Indian equities in the first half of May 2022, showing little respite. FPIs have been worried about Fed hawkishness, rampant inflation and the resurgence of COVID in China. If one combines equity and debt, foreign investors have sold nearly Rs2.10 trillion since the start of October 2021. Apart from India, even the other emerging markets like Taiwan, South Korea, and the Philippines have witnessed outflow in May, on a clear risk-off approach by the FPIs.

Adani will pay Rs.81,300 crore for the 63.2% stake that Holcim holds in Ambuja Cements

The battle for the stake in Gujarat Ambuja has finally been sealed with the Adani group emerging the winner. Adani will pay $10.5 billion or Rs.81,300 crore for the 63.2% stake that Holcim holds in Ambuja Cements. In addition, Holcim also holds 4.48% in ACC while Ambuja owns 50.05% in ACC. Post this deal, Adani will make an open offer to non-promoter shareholders to acquire 26% of these companies. At the end of the deal, Adani will emerge as the second largest cement player in India with the capacity of nearly 65 MTPA.

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