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Dalal Street also smokes peace pipe, ends in green for 4th week in row
Indian stock markets concluded their fourth consecutive week of gains, buoyed by declining crude oil prices and improved geopolitical sentiment. Analysts anticipate further upward movement for the Nifty 50, with upcoming quarterly earnings reports expected to guide market direction. Sectoral strength was observed in Realty, Pharma, Healthcare, and Cement, while broader market indices showed mixed performance. Foreign investors were net buyers, contrasting with domestic institutional selling.
Why is Bank of Baroda paying $600 million to settle a case?
While the bank has asserted that the settlement was reached without any admission of liability, it has revived allegations by NMC founder B.R. Shetty, who has long accused senior Bank of Baroda officials of colluding with former NMC executives in a fraud that caused the healthcare group’s collapse.
Manipal Health gets SEBI approval for up to $1.2 billion IPO, listing likely in late July
Manipal Health Enterprises has secured regulatory approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering, according to sources familiar with the development. The hospital operator is targeting a market debut in late July or early August, subject to prevailing market conditions. The company had filed IPO papers in March to raise up to $1.2 billion, positioning the issue among the largest healthcare listings in India. The planned offering comes at a challenging time for the primary market, with geopolitical tensions and sustained foreign portfolio outflows weighing on investor sentiment. Despite market volatility, the listing is expected to be closely tracked given growing demand for healthcare services and Manipal Health's scale in the hospital sector.
Pulse of the Street: Realty and healthcare lifts markets, but weak rupee clouds rally
Markets rose nearly 1% this week as softer crude oil prices, easing volatility and buying in real estate, healthcare and consumption stocks lifted sentiment. However, weakness in capital goods and power, along with continued pressure on the rupee, showed that the recovery remained selective
Fortis Healthcare enters Odisha, to run 300-bed hospital in Cuttack
Fortis Healthcare has signed an agreement with Dion Group to operate a 300-bed multi-specialty hospital in Cuttack, marking its entry into Odisha. The upcoming facility aims to improve access to advanced medical care for patients across the state and reduce the need to travel elsewhere for specialised treatment.
Benchmarks gain for third day on positive global cues; Nifty closes at 24,271
Key benchmark indices extended gains for a third consecutive session on Friday, supported by positive global cues. Weaker-than-expected US jobs data strengthened expectations of a Federal Reserve interest rate cut at its upcoming policy meeting. The Nifty closed at 24,270.85, led by gains in IT, healthcare and metal stocks. However, profit booking in the second half trimmed intraday gains, while broader markets lagged the benchmark indices.
Market strategy: How should investors rebalance portfolios for H2CY26? Analysts favour banks, auto, metals, healthcare - livemint.com
Market strategy: How should investors rebalance portfolios for H2CY26? Analysts favour banks, auto, metals, healthcarelivemint.com
India's IPO pipeline in the second half may touch $40 billion as billion-dollar listings line up: JPMorgan
Abhinav Bharti, Managing Director and Head of India ECM at JPMorgan said the Indian market has sufficient depth to absorb multiple large IPOs simultaneously, while global investor interest remains strong for sizeable IPOs across consumer, consumer tech and healthcare sectors.
Stock Alert: Mphasis, RailTel Corp, Ramco Systems, Texmaco Rail, Aster DM Healthcare
RailTel Corporation has secured a Rs 16.20 crore contract from the Haryana State Electronics Development Corporation for the management of the Haryana State Wide Area Network (HSWAN).
Govt brings stem cell, gene therapies under central licensing framework
India's drug regulations have been updated to include advanced treatments like cell, stem cell, gene therapies, and xenografts under central licensing. This move aims to bolster oversight for these complex, evolving medical technologies, ensuring patient safety and uniform standards nationwide. The amendment signifies a commitment to public health while fostering innovation and faster adoption of cutting-edge healthcare solutions.
Aster DM Quality Care begins operations after Aster DM Healthcare, Blackstone's Quality Care merge
Aster DM Quality Care has officially launched following the merger of Aster DM Healthcare and Blackstone-backed Quality Care India. This integration unites four major healthcare brands, aiming to significantly boost procurement power and operational efficiency. The combined entity, boasting over 10,600 beds across 39 hospitals, is poised to become a top-tier hospital chain in India, with ambitious plans for future expansion.
Bank of Baroda slumps after settling NMC Health litigation for $600 million
Bank of Baroda tumbled 4.31% to Rs 259.80 after the bank said that it has entered into an out-of-court settlement with the joint administrators of NMC Health PLC, NMC Healthcare Ltd and NMC Holding Ltd.