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Katya Naidu
01 Jun 2023, 16:19

Coal India OFS: Institutional buyers portion oversubscribed but stock falls

Coal India OFS: Institutional buyers portion oversubscribed but stock falls

Coal India OFS: Institutional buyers portion oversubscribed but stock falls

The Indian government is planning to sell up to 3% of its stake in Coal India through an offer-for-sale (OFS), which began this week, while the company's board has approved an 8% price hike on higher grade coal that analysts predict could provide significant benefits. As institutional buyers oversubscribed for the shares reserved for them, the stock price fell 4.4%. Bidding will remain open to investors until the end of trading on Friday, but market prices suggest the government will raise approximately $540m if the sale is fully subscribed.

Kotak report sounds a warning for the ‘nonchalant’ Indian market investor
Katya Naidu
01 Jun 2023, 12:27

Kotak report sounds a warning for the ‘nonchalant’ Indian market investor

Kotak Institutional Equities has warned that Indian markets are failing to account for the disruption risks that certain sectors will face over the next two to three years. The report identifies construction materials and auto industries as being among the most vulnerable. Although the consumer staples and oil, gas and consumable fuels sectors are also expected to face disruption, it may take longer to occur. The report highlighted the “selective attitude” of investors toward disruption risks in different sectors and stocks despite evidence to the contrary.

Global trends, macroeconomic data to drive equity markets this week: Analysts
28 May 2023, 10:44

Global trends, macroeconomic data to drive equity markets this week: Analysts

Stock markets would be largely driven by macroeconomic data, auto sales numbers, FII inflows and global trends this week, an...