9:04 AM
Hyundai Motor IPO: Here are the top 10 biggest IPOs in Indian history
Hyundai Motor India Limited, a subsidiary of South Korean auto giant Hyundai Motor Co., plans to offer approximately 17.5 per cent of its stake in an initial public offering (IPO), aiming to raise around $3 billion (approximately Rs 25,000 crore), according to reports. READ MORE
8:56 AM
Market undercurrent remains bullish, says V K Vijayakumar of Geojit Financial Services
V K Vijayakumar, chief investment strategist, Geojit Financial Services on Indian stock market:
— Undercurrent of the market continues to be bullish; Sustained domestic flows principal driver of this rally
— Fundamental support to the rally from strong economic growth, good corporate earnings
— Global support from the mother market US, which is setting new records
— Nifty trading at around 21x FY25 estimated earnings; no room for further sharp rally
— Liquidity flows may sustain the outperformance of the broader market. But valuation comfort is extremely low
— Focus on fairly valued large-caps, particularly in the banking, auto, where high valuations can be justified by their growth prospects