Tuesday, August 18
Bharat Coking Coal Limited (BCCL), a wholly owned subsidiary of Coal India, is drawing strong investor interest ahead of its IPO opening for subscription on January 9. Strong market buzz around the issue is evident in the grey market, where the IPO is currently trading at a premium of around Rs 12 per share. Based on the upper end of the price band at Rs 23, this translates into a potential upside of nearly 50%, indicating an expected listing price of about Rs 34.50 per share.The Bharat Coking Coal IPO is a book-built issue valued at Rs 1,071.11 crore. The buzz around the issue involves an offer sale of 46.57 crore equity shares, which results in no fresh funds being raised by the company, and the proceeds will go to the selling shareholder, Coal India Limited. Meanwhile, the price band fo
As 2026 begins, billionaire investor Ray Dalio argues that the dominant market narrative of the past year had been widely misunderstood. While much of the focus has been on the rally in US equities, particularly artificial intelligence-linked stocks, Dalio says the real story lay elsewhere, in the sharp changes in the value of money itself and the relative underperformance of US assets when measured against stronger currencies and gold.In a year-end reflection shared by Dalio, the founder of Bridgewater Associates, he notes that gold emerged as the single best-performing major asset class, returning about 65% in dollar terms. By comparison, the S&P 500 rose roughly 18%. When measured in gold terms, however, US equities effectively declined by about 28%, underscoring how currency deprec
A day after Reliance Industries (RIL) shares fell 4.4%, erasing Rs 94,000 crore in market value, global brokerage Jefferies raised its target price on the bluechip Nifty stock, citing a likely tariff hike at Jio and a potential IPO of the telecom arm as the next major re‑rating triggers for the conglomerate.Jefferies has maintained its Buy rating on RIL and lifted the 12‑month price target to Rs 1,830 per share, rolling forward its sum‑of‑the‑parts valuation to March 2027, implying about 21% upside from the previous close of Rs 1,507.The brokerage’s base‑case assumes 21% EBITDA CAGR at Jio, 14% at Retail, and 6% at the oil‑to‑chemicals (O2C) business over FY25–28, valuing core offline retail at 28x EV/EBITDA and India telecom at 15x on FY27–28 estimates.Also Read | Fr
