Dhan Manage

Tag: #share news

  • Reliance Jio Prepares for India’s Biggest IPO, Estimated at ₹35,000-40,000 Crores

    Key Highlights:

    • Reliance Jio Infocomm, Mukesh Ambani’s telecom company, is gearing up for its Initial Public Offering (IPO).
    • The IPO size is expected to range between ₹35,000-40,000 crores, potentially making it India’s largest-ever IPO.
    • The offering is set to include a mix of fresh issues, offer-for-sale components, and pre-IPO placements.

    Launch Timeline and Structure

    According to The Hindu BusinessLine, Reliance Group plans to launch the IPO in the second half of the year. Sources indicate the IPO will feature both fresh issues and an offer for sale, with a pre-IPO placement also being considered.

    Investment bankers remain optimistic, stating there should be no difficulty in securing subscriptions due to strong demand. The division between the fresh issue and offer-for-sale components is still under discussion, and the size of the pre-IPO placement will depend on the structure of the fresh issue.

    Foreign Investment in Jio Platforms

    Reliance Jio operates under Jio Platforms, which has a 33% stake held by foreign investors. In 2020, Reliance raised $18 billion by selling stakes in Jio Platforms to major global funds, including Abu Dhabi Investment Authority, KKR, Mubadala, and Silver Lake.

    Valuation Estimates

    Brokerages estimate Reliance Jio’s valuation to be around $100 billion, with some sources suggesting it could reach $120 billion. The company’s investments in cutting-edge technologies, such as artificial intelligence and satellite internet services, are expected to enhance its competitive position.

    Recently, Jio Platforms announced a partnership with global technology leader Nvidia to develop AI language models, signaling its focus on innovation. Additionally, RJio has received regulatory approval to launch satellite internet services, further expanding its technological capabilities.

    Market Leadership

    Reliance Jio is India’s largest telecom operator, boasting 460 million wireless subscribers as of October. Over the past five years, Reliance Industries Limited (RIL) has invested approximately $3 billion into building its telecom, internet, and digital businesses.

    With its focus on technology, partnerships, and market dominance, Reliance Jio’s IPO is set to be a landmark event in the Indian equity market.

  • Wall Street ends lower on first trading session of 2025; Tesla weighs

    U.S. stocks finished lower on the first trading day of the year after opening the session higher.

    Wall Street ends lower on first trading session of 2025; Tesla weighs

    • Summary
    • Companies
    • Weekly jobless claims at 211,000, below estimates
    • Tesla slides after deliveries data
    • Crypto stocks rise along with Bitcoin
    • Energy follows oil higher on China optimism
    • Indexes down: Dow 0.36%, S&P 0.22%, Nasdaq 0.16%

    NEW YORK, Jan 2 – Wall Street see-sawed to a lower close on Thursday amid choppy trading, as investors embarked on the new year facing the cross-currents of solid labor market data, a rising dollar and tumbling Tesla shares.

    All three major U.S. stocks ended the session in negative territory, a reversal of an earlier rally but off session lows.

    “We had some macro news but somewhat mixed and you know we have a very strong dollar today,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. “There are a few hurdles over the next couple of weeks and those are next Friday’s employment data and the beginning of fourth quarter earnings.”

    “In the short term, we’re looking at choppiness and a struggle for direction until we get those hurdles out of the way,” Cardillo added.

    Shares of Tesla (TSLA.O), opens new tab sank 6.1% after reporting its first annual drop in deliveries, as incentives failed to stem a decline in demand for its aging line-up of electric vehicles.

    A report from the Labor Department showed initial and continuing claims for unemployment benefits both fell last week, supporting the narrative of a solid jobs market and adding weight to the possibility that the U.S. central bank could let its key interest rate stand at this month’s policy meeting.

    Looking past uncertainties regarding the pace of interest rate cuts from the Federal Reserve, policies to be enacted by the incoming Donald Trump administration and various hot spots of geopolitical unrest, market participants chose to focus on the strength of the United States economy.

    Wall Street’s main indexes notched double-digit gains in 2024, with the benchmark S&P 500 recording its best two-year run since 1997-1998. Those gains were driven by the U.S. Federal Reserve’s first rate cuts in three-and-a-half years, the ongoing artificial intelligence boom and expectations of pro-business policies from the incoming Trump administration.

  • Bajaj Finance and Bajaj Finserv Shares Surge Up : Here’s Why

    Shares of Bajaj Finance Ltd and Bajaj Finserv Ltd rose sharply by up to 9% in early trading today, emerging as top gainers on both the Sensex and Nifty indices. The surge came after global brokerage firm Citi reiterated a bullish outlook on Bajaj Finance, maintaining a “Buy” rating with a target price of ₹8,150. Citi also placed the stock on a ‘90-day catalyst watch,’ anticipating strong Q3 results for the company.

    Bajaj Finance Performance

    The stock of Bajaj Finance gained 6% intraday, reaching ₹7,749.95, compared to its previous close of ₹6,936.65 on the BSE.

    Key performance indicators for Bajaj Finance include:

    • Relative Strength Index (RSI): At 52.5, indicating the stock is neither oversold nor overbought. (An RSI below 30 signals oversold, while above 70 signals overbought.)
    • Beta: At 1.1, reflecting higher-than-average volatility over the past year.
    • Moving Averages: Bajaj Finance shares are trading above the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 200-day moving averages, signaling positive momentum.

    The stock has lost 1.32% over the past year but has gained 5.72% since the beginning of 2025. A total of 0.96 lakh shares changed hands today, amounting to a turnover of ₹69.86 crore, while the company’s market capitalization increased to ₹4.53 lakh crore on the BSE.

    Bajaj Finserv Performance

    Similarly, Bajaj Finserv shares jumped 8.92% intraday, hitting ₹1,717.45 on the BSE.

    Key performance indicators for Bajaj Finserv include:

    • Relative Strength Index (RSI): At 38.6, signaling the stock is neither oversold nor overbought.
    • Beta: At 1, indicating average volatility over the past year.
    • Moving Averages: The stock is trading above the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, and 200-day moving averages, demonstrating strong momentum.

    A total of 1.76 lakh shares were traded, amounting to a turnover of ₹29.41 crore, and the firm’s market capitalization rose to ₹2.73 lakh crore.

    Citi’s Observations and Forecasts

    Citi highlighted key factors driving the rally:

    • Asset Under Management (AUM) Growth: Expected to rise 6% quarter-on-quarter (QoQ) and 7% year-on-year (YoY) in Q3, driven by robust performance across segments such as mortgages, sales financing, securities lending, and new business ventures.
    • Credit Costs: Marginally higher, forecasted at 2.2–2.5%, but still manageable.
    • Supportive Segments: Mortgage financing, sales financing, and new business initiatives remain key growth drivers.

    Market Outlook

    Citi’s optimism on Bajaj Finance and Bajaj Finserv reflects confidence in their ability to deliver strong Q3 results, driven by diverse growth segments and operational efficiency. Both stocks are currently riding positive market sentiment, bolstered by their favorable technical indicators and anticipated financial performance.

    Investors should closely monitor upcoming results and market movements to assess the sustainability of this rally.