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Hello everyone! Good day! 

Let us dive into some news from past week 

Dive in!

IPO market FY25 is up for Rs 70,000 pipeline

In the fiscal year 2024, companies raised Rs 62,000 crore through initial share sales, and the pipeline for the upcoming fiscal year looks robust. Upcoming offerings worth as much as Rs 70,000 crore are anticipated to enter the market next fiscal, with several prominent names in the mix. Currently, 19 companies with offerings totaling Rs 25,000 crore await SEBI approval, while another 37 companies, planning Rs 45,000 crore, have filed their prospectus papers with the regulator and are waiting for approval. Among these 56 companies, 9 are new-age tech firms aiming to raise approximately Rs 21,000 crore. 

Despite the approaching general elections, experts suggest that the next few months may still witness the launch of several IPOs. Notable IPOs to watch out for include Bharti Hexacom IPO, Go Digit Insurance IPO, Ola Electric IPO, Brainbees Solutions IPO, Waaree Energies IPO, Tata Electric IPO, Swiggy IPO, and others. 

Surge in the Indian Service Sector Marks a High of Over 13 and a Half Years: 

In March, India's services sector witnessed a significant upsurge, fueled by a surge in demand that propelled the sector to achieve remarkable growth rates. The HSBC Purchasing Managers’ Index (PMI), which is seasonally adjusted, increased from 60.6 in February to 61.2 in March, marking one of the strongest growth rates seen in over 13-and-a-half years. 

This upturn was primarily attributed to robust demand conditions, efficiency gains, and positive sales developments. Companies indicated a substantial improvement in new order intakes during March, with the growth rate being one of the best since June 2010. Moreover, new export business rose at the fastest rate since the series began in September 2014. Survey participants reported gains from Africa, Asia, Australia, Europe, the Americas, and the Middle East. 

The heightened pressure on the capacity of service providers contributed to the joint-fastest rise in employment since November 2022. 

What is leading the recent gold and oil price rally?  

Of late, gold prices are in the news for breaking records with each passing day. Oil price too is ticking upwards. Let us decode what is causing this rally.  

Gold has always had the reputation of being a safe haven for individuals, institutions, and countries for that matter. Whenever there is an economic or geopolitical crisis, investors divert their funds to gold, and hence gold price increases. Right now, the world is facing the Russia-Ukraine War, the Middle East conflict, and tensions cropping up in every part of the world between nations. That is one reason. But these issues have been there for some time now and what explains the most recent gold rally? The most recent rally is due to the result of some key developments. Countries have maintained a high-interest rate to tackle post-pandemic inflation. It is more or less confirmed that the rates are to be cut by June. As a result, the government bond interest rates would not be as attractive, and investors want safe assets with better returns. Gold is the perfect alternative. Another reason is China buying boatloads of gold to up its reserve.  

Oil, on the other hand, was going through a lull period. But, the cartel of oil-producing nations, OPEC+ has reduced the production to raise the prices. Also, the news about USA’s lower oil inventory has raised the prices. Additionally, when interest rates are expected to fall in the near term, businesses can get loans at cheaper interest rates. This will improve business activity and demand for oil. Hence, the upswing seen in oil prices.  

More news from the week ...

  • RBI interest rates : RBI has kept the interest rate unchanged at 6.5% during the recent Monetary Policy Meeting. The Central Bank is remaining cautious about food inflation and rising oil prices.  

  • RBI wants the speculators out of the currency derivatives market : From 5th April, RBI has instructed the currency derivatives should be used by those parties who genuinely want to hedge their positions. This will remove 70% of the derivatives participants who are speculators. This move is believed to reduce the volatility in the Indian currency.

  • Delhi CM arrested by ED : Chief Minister of Delhi, Arvind Kejriwal, has been arrested by the Enforcement Directorate after conducting searches at his official residence for money laundering linked to the excise policy case. However, the court has stated that it is Kejriwal's decision on whether to continue as CM or not and declined to entertain any plea seeking the removal of Arvind Kejriwal.

  • Commodity Price Surge : Restaurant Costs Rise - Dining out and ordering from restaurants are about to get costly, with bills expected to increase by 5-8% starting this month. This marks the first significant increase in approximately a year and a half. Prices for cocoa and coffee have reached unprecedented highs, and palm oil has seen a year-on-year rise of 10%. 

Check out the awesome content from Ambrela 

Visual of the Week

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In the early hours of Wednesday, Taiwan was rocked by a powerful 7.4 magnitude earthquake, triggering tsunami warnings across Taiwan, southern Japan, and the Philippines. The quake has resulted in 87,000 homes losing electricity, claimed nine lives, and trapped at least 143 individuals under rubble and debris. Overnight, over 70 quarry workers remained trapped, while more than 900 people sustained injuries, primarily from falling objects. 

Test you knowledge !

Can you guess the country with the largest gold reserves in the world ?

[A]   USA  

[B]   China  

[C]   India  

[D]   Russia   

With 8,133 tones of gold in its gold reserves, the USA tops the list. Out of which more than half is found in Fort Knox, Kentucky. US is followed by Germany, Italy and France in that order. India ranks 9th in the list with 801 tones of gold reserves.  

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