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#763 Daily Money Show
Original: # 763 Daily Money Show | Money Purse Stock Market News
Takeaway
Q3 GDP at 8.4% triggered upgrades; Tata Sons IPO at Rs 11 trillion could be the largest ever and a liquidity event.
Summary
- Market: Sensex +1,245 to 73,745; Nifty +355 to 22,338; Bank Nifty +2.53% after Q3 GDP of 8.4% beat expectations
- Analysts raised FY24 GDP forecast by 110 bps to 7.8%; Manufacturing PMI rose to 56.9 (5-month uptrend)
- Feb auto sales strong: Tata Motors PV +19% YoY, Mahindra & Mahindra +40%, Maruti Suzuki good growth
- Feb GST collections +12.5% YoY but -3.3% MoM vs January
- Vimark India SME stock - SEBI banned promoter and 12 entities for price manipulation worth Rs 6.38 cr through high-volume orders; warns SME segment is high-risk for retail
- Tata Sons must IPO by Sept 2025 per RBI norms; Kotak Securities values it at Rs 11 trillion, 5% stake sale could raise Rs 55,000 cr - largest IPO ever, will squeeze liquidity
- Suven Pharma board approved merger with Cohance Lifesciences (also CDMO) - 11 Suven shares per 295 Cohance shares; 12-15 months to close
GDPTata SonsSuven Pharma
Original description
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