In today’s briefing:
- Who Is Moving Indian Markets?
- #107 India Insight: PhonePe Plans IPO, Adani Sees Growth, Gujarat Budget Boosts Economy
- AUCTUS ON FRIDAY – 21/02/2025
Who Is Moving Indian Markets?
- Domestic investors (DIIs, retail, and HNIs) now hold 26.67% of non-promoter shares, narrowing the gap with FIIs, whose stakes have dropped to a 12-year low.
- This shift signifies growing domestic confidence and a stabilizing market environment, reducing dependency on volatile FII flows amid global uncertainties.
- Movement of the stock prices mostly dependent on FII moves rather than DII or Retail Investors.
#107 India Insight: PhonePe Plans IPO, Adani Sees Growth, Gujarat Budget Boosts Economy
- PhonePe, India’s largest digital payments player, begins IPO preparations after redomiciling to India in December 2022. With impressive growth and profitability.
- Adani Group reassures investors and creditors with strong cash reserves and double-digit EBITDA growth.
- Gujarat’s Rs 3.70 trillion budget for 2025-26 includes no new taxes. Focus is on infrastructure, green growth, human development, and economic activities, with new projects.
AUCTUS ON FRIDAY – 21/02/2025
- Condor Energies (CDR CN)C; Target price of C$5.60 per share: Very high flow rate at bypassed zone boosts production and unlocks reserves – A potential bypassed 60 m gas pay section, identified using advanced cased-hole logging tools and reprocessed existing 3-D seismic data, was put in production over a 23 m perforated interval at a rate of 1,100 boe/d, increasing to 1,300 boe/d over the past five days as the completion fluid has been recovered.
- The flow rate is above expectations and unlocks reserves.
- This result showcases the potential upside at Condor’s Uzbekistan assets.
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