Biz Updates: Top 8 companies’ capital rises by 1.53 lakh crore; IIHL’s delayed resolution plan slows down
New Delhi| The capital of the top eight companies listed in the market increased by 1.53 lakh crore last week. During this period, Bombay Stock Sensex rose 1,279 points to close at an all-time high of 82,365. According to the data, Airtel’s capital increased the most during this period by Rs 47,195 crore. It has crossed 9 lakh crores. Infosys’ capital has grown by Rs 33,611 crore to Rs 8.07 lakh crore. Foreign institutional investors have bought shares worth a net 7,320 crore in the Indian market in August. They have invested 17,960 crore in the debt market. In July they had bought shares worth 32,365 crores and in June they had bought shares worth 26,565 crores. These investors have opportunities to invest in very cheap markets. That’s why they are investing money in other markets too.
The basic reason for the low interest of these investors compared to the last two months is the high valuations in the Indian market. Nifty is now the most expensive market in the world with trading at 20 times FY2025 estimated earnings. Lenders of debt-ridden Reliance Capital alleged that IIHL was delaying. This is delaying the adoption of the resolution plan. The Hinduja Group company responded by saying it was following due process. Mauritius-based IndusInd International Holdings Limited (IIHL) has emerged as a successful bidder to acquire Reliance Capital. IIHL sources said, all the allegations are false.
