Mark to Market

The domestic Indian pharma market has seen a pickup in sales growth in November over last year, although stock market cheer is muted.

In the latest episode of Mark to Market, we take a look at why Reliance Jio is the biggest gainer post the tariff hikes. Jio revised tariffs are at a meaning discounts to the tariffs announced by Vodafone Idea and Bharti Airtel. Post the tariff hikes, Vodafone Idea and Airtel shares have given up more than half their gains for the week. Some analysts are also beginning to worry about the possibility of downtrading among some customers. Vodafone Idea remains vulnerable given its relatively...

India’s GDP growth has fallen to 6-year low in September quarter and all eyes are on Reserve Bank of India’s monetary policy for a rate cut. Considering food inflation is on upswing, markets fear this could be the last of the cuts from the RBI. However, a big challenge for RBI is to unclog the credit flow and resolve the NBFC crisis. Markets will watch for commentary on credit flow, NBFC crisis and forecasts of GDP and inflation on Thursday when the committee puts out its vote on policy...

The stock markets are at all-time highs when the economy is at a multi-year low. What is happening?

SpiceJet has denied a news report that it plans to raise Rs750 crore through a qualified institutional place (QIP). Whether or not the company is looking to raise money, the fact is that the airline has extremely low amounts of cash on its books, and needs to bolster its balance sheet with a fund-raise sooner than later. As on 30 September, the airline had cash and cash equivalents worth Rs93 crore and a negative networth of about Rs850 crore.

Shares of Sterling and Wilson Solar, a solar engineering, procurement, and construction company, touched the lower circuit again on Tuesday on the National Stock Exchange. With this, the stock has fallen over 60% from its issue price of Rs780 apiece during the initial public offering (IPO). What gives? The promoters have sought an extension for repayment of loans taken from Sterling and Wilson. Promoters had originally promised to clear the dues within 90 days of listing and investors are...

Vodafone Idea shares fell below Rs 3 on Thursday, on news that the govt has demanded its dues in the AGR case. The dues could be as high as Rs 40,000 crore, while the company has a cash balance of about Rs 20,000 crore. Reports suggest both promoter groups of the company are unwilling to infuse fresh capital. The government will be a major loser if the company goes into liquidation, as the company owes it over Rs 90,000 crore.

The FMCG sector's second-quarter results were largely in-line with estimates barring a few companies.

The Midcap index was up last month outpacing the frontline Nifty 50. Some limited churn also seems to be happening from large-caps to midcaps. While, midcaps earnings tend to expand when GDP growth is strong, the weak economic growth will weigh on the midcap stocks. So what’s next for midcaps? Listen to this podcast to find out.

Reliance Industries has said it will infuse Rs1.08 trillion into its telecom subsidiary, which the latter will use to reduce debt. As a result, Reliance Jio's debt to equity ratio will fall from about 2.5 times to 0.3 times. In contrast, other telcos have been burdened further after a Supreme Court ruling, which has asked them to pay license fee dues and penalties. Traders fear Vodafone Idea may end up in bankruptcy, since the penalty amount is higher than the cash on its books. While Jio's...