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[ad_1] Vedant Fashions, the owner of the ethnic and celebration wear brands, Manyavar, Mohey and Manthan, will launch its initial public offering (IPO) on February 4, the company said on Friday. It has set the price band for the IPO at Rs 824-866 per share. At the upper end of the band, the company expects to raise Rs 3,149 crore. The anchor book will be announced on February 3, and the company is likely to list on the exchanges on February 16. The IPO, purely an offer for sale of up to 3.64 crore equity shares by promoters and existing shareholders, will conclude on February 8. Bids can be made for a minimum of 17 equity shares and in multiples of 17 equity shares thereafter. As the selling shareholders will be entitled to the entire proceeds after deducting the offer expenses and relevant taxes thereon, Vedant Fashions will not receive any proceeds from the IPO. Axis Capital, Edelweiss Financial Services, ICICI Securities, IIFL Securities and Kotak Mahindra Capital are the book running lead managers of the issue. The offer consists of 36,364,838 equity shares of face value of `1 each, comprising up to 17,459,392 shares by Rhine Holdings, up to 723,014 shares by Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF 1 and up to 18,182,432 shares by the Ravi Modi Family Trust. The promoters of Vedant Fashions are Ravi Modi, Shilpi Modi and Ravi Modi Family Trust acting through its trustee, Modi Fiduciary Services. Ravi Modi is the founder, chairman and managing director of the company. Based on the FY21 earnings, the price-to-earnings (P/E) multiple works out to be 161.57x, which seems expensive, according to experts. Notably, not more than 50% of the offer will be available for allocation on a proportionate basis to qualified institutional buyers. Further, not less than 15% of the offer will be available for allocation on a proportionate basis to non-institutional investors and not less than 35% of the offer will be available for allocation to retail individual investors. In the red herring prospectus, the company said, “We are now focused on further enhancing our leadership position and establishing our dominance in the premium and value segments of the men’s Indian wedding and celebration wear market through our brands, Twamev and Manthan. Parallelly, we are also focused on expanding our presence in the women’s Indian wedding and celebration wear market through our brand, Mohey.” [ad_2] Source link

[ad_1] The controversial author Christopher Booker suggested in a tome-length book, that all narratives belong to one of seven types. In his conception, all of history’s fiction is reducible to seven story typologies. In other words, there are no new stories in the world, only variations on already-worn themes. The same can be said of business models. Despite the constant talk of innovation and disruption, new companies all hew to some variation of tried and tested business designs. While there are differences in degree and in execution, it is safe to say that “there is nothing new under the sun.” Fintech is rife with these stories of mimicry. And in fintech, there is no better example than “Buy Now Pay Later” (BNPL) — an idea that has taken the investment world by storm but is in fact a model as old as mankind itself. Whatever the circumstances, BNPL is a huge trend and is spawning tens of billions of dollars of investment; it is also minting new unicorns. Reality, however, is often (always?) different than advertising slogans. In addition, investors, despite their sophistication in certain aspects, are not immune to the herd mentality. Instead, they love to jump into trends just because they are, well, trends. Even in Tulip mania, mid-stage investors made money, as long as they weren’t left holding the bag (or the flower) at the end. The power of BNPL But cracks are appearing. In an excellent story, FinLedger’s Joe Burns quoted an executive at Credit Karma, suggesting that “debt is debt,” even if it’s instigated by BNPL. Ultimately, in the absence of infinite credit and de minimus payment schedules — neither of which exists — the purchase itself triggers a potential avalanche of default and cascading defaults cause financial meltdowns. With the jury out on BNPL, it is worth exploring if there are ways to make the provision of liquidity sustainable, fair and overall positive for the ecosystem. Here, we can turn to the housing ecosystem as an exemplar both of what is possible but also what possibilities are being missed. A quick romance with the numbers is called for. In the U.S., the total housing stock is worth a staggering $40 trillion. In fiscal 2021, Q2 alone, total house equity increased a whopping $2.9 trillion. In some states like California and Washington, 2021 saw the average equity per home increase over $100,000. Furthermore, Goldman Sachs predicts that in the last quarter of fiscal 2021, homes will rise another 16% in value. If we consider the baseline value of $40 trillion, about 55% of that — or $22 trillion — is equity belonging to homeowners. The remaining 45% is mortgage debt. To put the $22 trillion in context, U.S. GDP is $21 trillion. While this number constitutes only about 17% of the total “net worth” of U.S. households, the latter number is skewed by the concentration of wealth at the top. To understand that, it is worth remembering that the median household net worth in 2020 was $121,000. For the average U.S. household, their home equity is about 75% of their net-worth. A lot to digest indeed, but a very telling picture. Homeownership in the U.S. is fairly widespread and systemic provisions have been made to ensure it is so. From mortgage debt availability to the favorability of homeownership in the tax code, the majority of U.S. families live in structures they at least partially own. About one-third of Americans fully own their homes. Still, vast swaths of the U.S. population — even those who “own” their homes — are cash-poor. Atlantic Magazine did a sweeping survey of Americans in 2016 and found that 50% of them suggested that they would not be able to find an extra $400 in an emergency. Combining all of these into one pithy statement is not easy, but it suffices to say that a vast swath of Americans are “house poor.” Where’s the money? Enter the brisk real estate market and we start to see both a conundrum and, in that conundrum, an opportunity. Recent statistics show that more than half (and up to three-quarters) of houses that sell were subject to bidding war price escalations. In some hot markets, the demand outstrips the supply of houses by 2 to 1. It’s a sellers’ paradise in many cities. Still, despite this imbalance, real estate agents suggest that most of their listings could benefit from upgrades and refurbishments. Tomes of data indicate that upgrades to bathrooms, kitchens, cabinetry and other areas pay off handsomely at sale — not only with higher prices (often at several multiples of the invested money) but also with both increased sales velocity and demand in the house as measured by number of offers. The conundrum here raises its head. Despite owning equity in their houses, American families are hard-pressed to find the money to hire contractors to make the changes that will result in these benefits. In this conundrum lies an opportunity and a dream — to help homeowners maximize their pay-out when selling houses while not undercutting agents and service professionals who together form a healthy ecosystem. The question then remains: How does one quickly, easily, securely and fairly help homeowners to get the requisite changes done so that they can successfully sell their houses and realize the potential of their stored equity? Re-enter BNPL, but with a twist. Can we do the “PL” without the typical “BN?” In other words, can we imagine “UNPL” as Upgrade Now Pay Later? This way, instead of increasing consumerism and debt burdens, we help families in fact alleviate debt via increased realized equity in their homes. And that with no outlay of precious and scarce cash resources. I Is UNPL the superhero that American homeowners need? I think so. This article was first featured in the Dec/Jan HousingWire Magazine issue. To read the full issue, go here. Romi Mahajan is an expert in the fintech marketing space. His previous roles include serving as CMO at Quantarium. This column

[ad_1] Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.  U.S. earnings season, with tech biggies to the rescue Earnings have been very strong thanks to continued economic recovery as we move through, and out, of the pandemic. And earnings season is in full stride in the U.S. The tech giants are releasing their reports, including Microsoft (MSFT) and Apple (AAPL). And we’re getting a read on other sectors thanks to earnings from Visa (V), McDonalds (MCD), Mastercard (MA), Johnson & Johnson (JNJ), Chevron (CVX), General Electric (GE), Boeing (BA) and Tesla (TSLA).  Here are some highlights. All figures are courtesy of Seeking Alpha. Microsoft surged on Wednesday, after beating estimates for earnings and revenue. It said it earned $2.48 a share on $51.7 billion in revenue, up 20% year-over-year. The consensus from Wall Street analysts was for Microsoft to earn $2.32 per share on $50.78 billion in revenue, up 17.9% year-over-year.  Microsoft is buying Activision (NASDAQ:ATVI) for $68.7 billion in one of the biggest moves it has made in the video game market.  Tesla  Tesla, another one of the giants in the U.S. market, continues to roll. Revenue of $17.72 billion was up 65.0% year over year and the electronic vehicle manufacturer beat estimates by $1.08 billion. Non-generally accepted accounting principles (non-GAAP) earnings per share of $2.54 beat by $0.16. (GAAP means the company follows prescriptive accounting practices, and non-GAAP means it does not. More here.) The growth is incredible considering supply chain constraints. In September, I wrote about how we were out of chips and that the world runs on chips (semiconductors).  Tesla reports it produced 305,840 vehicles in Q4 (+70% Y/Y) and delivered 308,650 vehicles (+71%). However, the stock is down over 11% year to date. Tesla says it’s on pace for 50% annual growth.  McDonalds The fast food giant stacked up $6 billion revenue, an increase of 13.0% year over year. That missed estimates by $30 million. That is a very solid performance for such a massive and mature company. McDonalds is certainly one of the strongest brands and most recognized companies on the planet.  It delivered non-GAAP earnings per share of $2.23, missing by $0.11. That stock is down almost 7% year-to-date, as most everything sells off in early 2022.  Apple  “The world’s most valuable company” topped estimates for revenues and earnings. The company is not likely to give up that “most valuable” status anytime soon.  Apple earned $2.10 a share on $123.95 billion in revenue, led by strength in its iPhone, which generated $71.6 billion in sales. The iPhone represents 58% of total revenue. Analysts had expected the company to earn $1.89 a share on $118.4 billion in revenue during the quarter.  Total revenue was up 11% year over year.  Disclosure: My wife and I have positions in Apple, Microsoft and Johnson & Johnson.  Stock markets in a sour mood The Apple results might not be enough to satisfy the markets—they continue to be in a sour mood in 2022.  Stocks continue to sell off lead by the more-expensive tech stocks. And leading the tech rout are the tech stocks with no earnings or those that are “earnings challenged.” You find many of those companies in the once high-flying ARKK Innovation ETF. “ARKK has sunk,” goes the recent narrative.  A hedge against the sell-off is the SARK ETF. It shorts the ARKK tech ETF, managed by Cathie Wood.  Here’s a tweet that frames the drawdown by style and sectors, for U.S. stocks.  Returns from 52w High by asset class, sectors and factors R.I.P. Small Cap Growth pic.twitter.com/u158x5FvY8 — Adrián Hernández (@adrivalue) January 21, 2022 Central banks wait to fight inflation This week’s headlines were dominated by the central bankers in Canada and the U.S.: North of the border, we have the Bank of Canada; and in the U.S. the central bank is known as the Federal Reserve System, often referred to as the Fed.  Both banks made rate decisions this week. Many market analysts and economists were suggesting that the banks would announce rate hikes as soon as this week.  Bill Ackman, CEO of Pershing Square Capital Management, even suggested it was time for some shock and awe:  whether 3 to 4 would therefore be enough. The @federalreserve could work to restore its credibility with an initial 50 bps surprise move to shock and awe the market, which would demonstrate its resolve on inflation. The Fed is losing the inflation battle and is behind where it — Bill Ackman (@BillAckman) January 15, 2022 Rate hikes will increase borrowing costs and help to cool economies and suppress economic growth and soaring inflation.  Both central bankers put away their rate-hike buttons and stood pat. Canadian governor Tiff Macklem and Fed chair Jerome Powell each offered that a series of rate hikes are on the way in Canada and the U.S. And Macklem and Powell both signalled that rate hikes are likely to begin in March 2022. This quote comes from a Canadian Press article via CTV News:  “ ‘How far and how fast—those are decisions we will take at each meeting, depending on economic developments, depending on our outlook for inflation, and what we judge is needed to bring inflation back to target,’ Macklem told reporters.” The Bank of Canada’s mandate was achieved. We have very solid economic growth and employment is near full capacity. Furthermore, the Bank of Canada’s second in command suggests “thanks” to Omicron and the potential end of the pandemic, even more growth is around the corner. This is also from that same CTV article: “Carolyn Rogers, the bank’s new second-in-command, said Omicron will also weigh on domestic growth, but the effects should be short-lived because of high vaccination rates and businesses learning to adapt to restrictions. “ ‘If that proves to be true, we think an economic rebound is around the corner,” said Rogers, the bank’s senior deputy governor.” Jerome Powell places his foot firmly in his mouth  South of the border,

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[ad_1] Dial down the Russian war talk to save our economy, Ukraine tells West [ad_2] Source link

[ad_1] The finance ministry on Friday granted additional borrowing permission of Rs 7,309 crore to two states for undertaking stipulated power sector reforms. Rajasthan and Andhra Pradesh have been allowed to borrow additional Rs 5,186 crore and Rs 2,123 crore, respectively. “Department of Expenditure has granted additional borrowing permission of Rs. 7,309 crore to two States for undertaking the stipulated reforms in the power sector,” an official statement said. The ministry, based on the recommendations of the 15th Finance Commission, has decided to grant additional borrowing space of up to 0.5 percent of the Gross State Domestic Product (GSDP) to the states every year for a four-year period from 2021-22 to 2024-25 based on reforms undertaken by them in the power sector. This will make available additional resources of more than Rs 1 lakh crore every year to the states. The objectives of the additional borrowing permissions are to improve the operational and economic efficiency of the sector, and promote a sustained increase in paid electricity consumption, the statement added. Apart from Rajasthan and Andhra Pradesh, nine states — Assam, Goa, Kerala, Manipur, Meghalaya, Odisha, Sikkim, Tamil Nadu and Uttar Pradesh — have also submitted their proposals to the Ministry of Power, which are under examination. Additional borrowing permission will be issued to eligible states on receipt of recommendation from the power ministry, the statement added. [ad_2] Source link

[ad_1] The post 7 Best Tech Stocks to Invest In Right Now appeared first on Millennial Money. These companies are some of the most important in the tech space and could make great additions to your portfolio if you’re looking to add some tech stocks. Technology stocks can be a fantastic sector for investors to grow their wealth. But traditionally, they can also be a volatile corner of the market.  That’s because the very nature of technology companies involves trying to disrupt their peers, which creates a lot of competition. The companies that are successful at outpacing their rivals can be fantastic investments. But the ones that don’t keep pace can cause big losses in your portfolio.  That said, selecting the best technology stocks with the potential for long-term growth isn’t impossible. And to help you get started, we’ve compiled a list of some of the best tech stocks to invest in.  You may recognize many of the companies on this list because they have long track records of innovation and continue to expand into new markets. Others are bigger bets on emerging tech trends that have lots of upside potential, but with more risk involved.  In either case, we think you’ll find at least a few stocks on this list that fit your investing strategy. So let’s dive in! 7 Top Tech Stocks Nvidia  Amazon  Shopify  Microsoft  Block  Ethereum  Apple 1. Nvidia (NASDAQ: NVDA) Nvidia (NASDAQ:NVDA) Price: $219.44 (as of close Jan 26, 2022) Market Cap: $569.3B document.addEventListener(“DOMContentLoaded”, function(event) { Highcharts.stockChart(“stockChart-da7efd09e13e1c4d82501a2e83222df5”,{rangeSelector:{selected:1},title:{text:”Nvidia (NASDAQ:NVDA)Closing Stock Price”},subtitle: {text: “Historical Data”},navigator: { enabled: false },scrollbar: { enabled: false },credits: { enabled: false },xAxis: { type: “datetime”, labels: { formatter: function() { return Highcharts.dateFormat(“%m %d, %Y”, this.value); }}},colors: [“#118b4e”],rangeSelector : { enabled: false 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“%A, %B %e, %Y”}}]}); }); Let’s kick off this list with one of the best tech hardware stocks around. Nvidia’s graphics processing units (GPUs) are second to none in the gaming industry. But over the years, the company has evolved far beyond just rendering graphics for games.  Companies including Alphabet’s Google use Nvidia’s GPUs for artificial intelligence (AI) processing power in their servers. In fact, Nvidia’s chips hold about 80% of the AI processor market right now. And as the AI chip market expands into a $91 billion market by 2025, Nvidia is poised to benefit.  Chips for the gaming market still make up the bulk of Nvidia’s sales, but data center chips (for AI and other uses) are closing in. Investors looking for a hardware tech company that’s hitting home runs in gaming, data centers, AI, and even the crypto space will have a hard time finding a better company than Nvidia.  2. Amazon (NASDAQ: AMZN) Amazon (NASDAQ:AMZN) Price: $2792.75 (as of close Jan 27, 2022) Market Cap: $1.416T document.addEventListener(“DOMContentLoaded”, function(event) { Highcharts.stockChart(“stockChart-284b86d4dfee5a0a39af5fb4af871665”,{rangeSelector:{selected:1},title:{text:”Amazon (NASDAQ:AMZN)Closing Stock Price”},subtitle: {text: “Historical Data”},navigator: { enabled: false },scrollbar: { enabled: false },credits: { enabled: false },xAxis: { type: “datetime”, labels: { formatter: function() { return Highcharts.dateFormat(“%m %d, %Y”, this.value); }}},colors: [“#118b4e”],rangeSelector : { enabled: false 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“%A, %B %e, %Y”}}]}); }); If there were ever a question of whether or not customers need a massive online store that delivers everything from toilet paper to sofas to their front doors, 2020 put it to rest.  With the pandemic surging over the past couple of years, customers flocked to Amazon for many of their household needs. The company’s leading position in the space is incomparable.  Amazon has a whopping 41% of the U.S. e-commerce market right now. Its closest competitor — a small mom-and-pop store called Walmart — holds just 6.6%!  But that’s not Amazon’s only long-term tech advantage. The company also holds the leading position in the public cloud computing space with its Amazon Web Services (AWS) offering. Amazon sells everything from web hosting to AI services to companies and developers through AWS. It has 32% of the cloud infrastructure market — more than the combined market share of both Microsoft and Google.  With cloud computing and e-commerce still fast-growing markets with lots of growth potential, long-term investors would be wise to add this tech giant to their portfolios.  3. Shopify (NYSE: SHOP)  Shopify (NYSE:SHOP) Price: $815.76 (as of close Jan 27, 2022) Market Cap: $102.46B document.addEventListener(“DOMContentLoaded”, function(event) { Highcharts.stockChart(“stockChart-2b3a8da2fc0e753e61358bd78dfed4ca”,{rangeSelector:{selected:1},title:{text:”Shopify (NYSE:SHOP)Closing Stock Price”},subtitle: {text: “Historical Data”},navigator: { enabled: false },scrollbar: { enabled: false },credits: { enabled: false },xAxis: { type: “datetime”, labels: { formatter: function() { return Highcharts.dateFormat(“%m %d, %Y”, this.value); }}},colors: [“#118b4e”],rangeSelector : { enabled: false 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“%A, %B %e, %Y”}}]}); }); While we’re on the subject of e-commerce, let’s take a look at another fantastic tech stock that’s carving out its niche in this space: Shopify.  Shopify helps mainly small- and medium-sized businesses build out their e-commerce storefronts while also providing services to large companies, including Kraft Heinz and Allbirds.  Nearly 2 million businesses across 175 companies use the company’s platform for their e-commerce needs. And there’s likely more room for this company to grow.  The U.S. Census Bureau estimates that about 13% of all retail sales in the U.S. occurred online toward the end of 2021, up from 10% at the beginning of 2019. Not only does that show significant e-commerce growth over the past few years, but it also shows that there’s a lot more room for online sales to expand as well.  The pandemic proved that even small businesses need an online store. And Shopify is one of the best ways for them — or any business — to set one up.  4. Microsoft (NASDAQ: MSFT) Microsoft (NASDAQ:MSFT) Price: $299.84 (as of close Jan 26, 2022) Market Cap: $2.224T document.addEventListener(“DOMContentLoaded”, function(event) { Highcharts.stockChart(“stockChart-878b1a896da87e3cc1e9223d8549c321”,{rangeSelector:{selected:1},title:{text:”Microsoft (NASDAQ:MSFT)Closing Stock Price”},subtitle: {text: “Historical Data”},navigator: { enabled: false },scrollbar: { enabled: false },credits: { enabled: false },xAxis: { type: “datetime”, labels: { formatter: function() { return Highcharts.dateFormat(“%m %d, %Y”, this.value); }}},colors: [“#118b4e”],rangeSelector : { enabled: false 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[ad_1] Dalal Street headline indices started the day in the green but failed to hold on to their gains amid yet another volatile trading session. S&P BSE Sensex ended 76.71 points or 0.13% lower at 57,200 while Nifty 50 closed at 17,101.95, down 8.2 points or 0.05%. NTPC was the top gainer, up 3.82%, followed by Sun Pharma, IndusInd Bank, and ITC. Down in the red was Maruti Suzuki, falling 3.04%, accompanied by Tech Mahindra, Power Grid Corporation, and ICICI Bank. Broader markets outperformed and closed with gains. India VIX closed 1.76% lower while Bank Nifty fell 0.77%.  Deepak Jasani, Head of Retail Research, HDFC Securities – “Asian stock markets were mixed Friday and mostly weakened from high opening levels through the day. Europe’s main bourses fell again on Friday as worries about a sudden stop to central bank stimulus and rising tensions between Western powers and Moscow continued to drive world stocks to one of their worst ever starts to a year. Nifty closed the week, lower by 2.92% recording the second-worst week in 2022. Nifty pulled back after facing resistance at close to 17400. FPI selling seems relentless even after the F&O expiry on the previous day. This seems to be more global decision than pertaining to just India. 16998- 17374 could be the band in the near term while this band could widen on and post the Budget day next week.” Palak Kothari, Research Associate, Choice Broking “On the technical front, the index has confirmed the bearish engulfing candlestick pattern on the weekly chart but it has taken support from 78.6% RL of its previous up rally which suggests sustained above the same can show bounce back movement in the counter. At present, the Index has support at 16830 levels while resistance comes at 17450 levels, crossing either side can suggest further direction. On the other hand, Bank nifty has support at 37000 levels while resistance at 38500 levels.” Rupak De, Senior Technical Analyst at LKP Securities – “Nifty remained volatile during the day as it found resistance around 17400 before falling towards 17050. Going forward the volatility is likely to continue; on the higher end, 17400 may remain as crucial resistance. On the lower end, 17050-17000 may act as support for the falling Nifty, below which the index may drift down towards recent swing low of 16836.” Yesha Shah, Head of Equity Research, Samco Securities – “Global markets were in the midst of a selloff this week, primarily due to the expectations of Fed’s stance and mounting concerns in Ukraine about a potential war with Russia. Moving in sync, Dalal Street was painted red as the Indices began the week with their biggest decline since April 21. Nifty closed negative for the week and is trading around its 100 day EMA on the daily chart. The recovery in the last trading session indicates that the index seems to have found a cushion at the previously established demand zone of 16,850.” [ad_2] Source link