<ul><li>KIMS is a Hyderabad-based company that operates multi-specialty hospitals in Telangana and Andhra Pradesh.</li><li>It has nine hospitals across the two states with an aggregate bed capacity of over 3,000.</li><li>It intends to use the proceeds of the IPO towards expanding its operations in adjacent areas like Bengaluru, Chennai, Bhubaneshwar and even Central India.</li></ul>The Hyderabad-based <keyword id="137580" type="ORGANIZATION" weightage="20" keywordseo="Krishna-Institute-of-Medical-Sciences">Krishna Institute of Medical Sciences</keyword> (KIMS) is banking on a bullish market to mop up ₹2,100 crore from its initial public offering (IPO), as it looks to pare its debt and become more agile. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Issue opens </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">June 16, 2021 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Issue closes </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">June 18, 2021 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹815-825 per share </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Market lot </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">18 shares </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Minimum order value </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹14,850 </td></tr></tbody></table> The Hyderabad-based company filed its draft red herring prospectus (DRHP) in April this year, with plans to raise ₹200 crore from the IPO via a fresh issue of equity shares. In addition to this, the company’s existing investors, US equity giant General Atlantic and the promoters, will offer 21.3 million shares totaling to ₹1,950 crore. With over two decades of history, KIMS is one of the largest private hospital chains in Andhra Pradesh and Telangana. It currently operates nine multi-specialty hospitals under the KIMS Hospitals brand. Also read: <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-2021-in-india/slidelist/82766975.cms">IPO watch: List of upcoming public issues in 2021 – from Zomato to GoAir, over a dozen companies have filed for a listing</a> In total, KIMS has a bed capacity of 3,064, out of which 2,500 were operational as of December 31, 2020. <div type="image" title="KIMS IPO Revenue Profits." msid="83426697" hostid="261" caption="&amp;lt;p&amp;gt;KIMS revenues and profits over the last four years&amp;lt;/p&amp;gt;"></div> According to an Axis Capital report, the 3-year compounded annual growth rate (CAGR) of KIMS is the best amongst major hospital players. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">CAGR (2017-2020) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">KIMS </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">26% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Narayana Hrudayalaya </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Manipal Hospitals </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Healthcare Global </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr></tbody></table>Source: Axis Capital <cmsannotation type="cmsannotation" annotationid="Using the bullish equity market to pare its debt" comment="subhead" text="Using the bullish equity market to pare its debt">Using the bullish equity market to pare its debt</cmsannotation> The IPO proceeds worth INR 200 crore will go to the company. Of this, it intends to repay ₹150 crore worth borrowing. The remaining ₹50 crore will go towards general corporate purposes, which can include capital expenditure, partnerships, among other things. <cmsannotation type="cmsannotation" annotationid="Expansion plans get a shot in the arm" comment="subhead" text="Expansion plans get a shot in the arm">Expansion plans get a shot in the arm</cmsannotation> KIMS wants to ride the bull run in India’s equity markets to expand its operations to adjacent areas like Karnataka, Odisha, Tamil Nadu and even central India. Among these, Bengaluru and Chennai could be the next big markets for KIMS. Apart from this, the liquidity boost could help KIMS expand its bed capacity and healthcare equipment to augment its operations. <cmsannotation type="cmsannotation" annotationid="Revenue concentration remains a key area of concern for KIMS" comment="subhead" text="Revenue concentration remains a key area of concern for KIMS">Revenue concentration remains a key area of concern for KIMS</cmsannotation> The hospital’s two branches, namely KIMS Kondapur and KIMS Secunderabad – both located in Hyderabad – contribute nearly two-thirds to the total revenue of the company. A high concentration of revenue could hamper the company’s prospects if it cannot expand and diversify in a meaningful manner. <cmsannotation type="cmsannotation" annotationid="KIMS says COVID-19 had a noticeable adverse impact on its operations" comment="subhead" text="KIMS says COVID-19 had a noticeable adverse impact on its operations">KIMS says COVID-19 had a noticeable adverse impact on its operations</cmsannotation> Despite a surge in revenue and profit, KIMS says that the COVID-19 pandemic had an adverse impact on its operations. The company says that in March 2020 and more so in April 2020, it witnessed a substantial decline in in-patient and out-patient volumes. When compared to February 2020, its inpatient volumes fell by more than half in April 2020. It also notes that some patients were reluctant to visit hospitals due to a perceived notion of increased risk of infection. Heightened risk of its doctors, nurses and other healthcare workers, and a resulting increase in costs to ensure their safety also remains another area of concern for the company. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-would-be-the-largest-ever-for-an-automotive-component-maker-in-india/articleshow/83369745.cms">Blackstone-backed Sona Comstar’s ₹5,500 crore IPO could open next week, reports suggest</a> <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-2021-in-india/slidelist/82766975.cms">IPO watch: List of upcoming public issues in 2021 – from Zomato to GoAir, over a dozen companies have filed for a listing</a> <a href="https://www.businessinsider.in/business/startups/news/softbank-backed-paytm-pivots-to-a-3-billion-ipo-plan-a-year-into-the-pandemic-it-could-be-the-largest-market-debut-in-india/articleshow/83000446.cms">Softbank-backed Paytm fast tracks IPO plan a year into the pandemic ⁠— a $3 billion fundraising could be the biggest market debut in India</a>

KIMS IPO: The Hyderabad-based hospital chain is banking on the bull run in the markets to pare its debt and expand its operations

Today, I'm breaking down how policy and inflation are weighing on major stock indexes — but first, let's start with a separate matter. Among some of my colleagues, there's been chatter about <a href="https://markets.businessinsider.com/news/stocks/student-loan-forgiveness-stock-market-pandemic-stimulus-checks-stimmy-biden-2022-9">President Biden's student loan forgiveness plan</a>. Some feel relieved; others confused. Specific to us markets folks, though, there is a stock market angle to this story. Experts say that while it may free up cash for millions of Americans, the $300 billion move won't spark a stock-buying spree <a href="https://markets.businessinsider.com/news/stocks/student-loan-forgiveness-stock-market-pandemic-stimulus-checks-stimmy-biden-2022-9">like the pandemic stimmy checks did</a>. Still, as a form of stimulus not totally unlike free money, there could be some heightened inflows into stocks. <a href="https://markets.businessinsider.com/news/stocks/student-loan-forgiveness-stock-market-pandemic-stimulus-checks-stimmy-biden-2022-9">You can read the full analysis here.</a>And one more thing before we begin: Everyone's talking about "quiet quitting" right now. <a href="https://www.businessinsider.com/conan-obrien-assistant-movsesian-career-advice-quiet-quitting-being-mediocre-2022-9">Conan O'Brien's assistant Sona Movsesian</a> told The Refresh from Insider how she's been doing it for over a decade. Listen to her talk about doing the "<a href="https://share.spooler.fm/ZVvWpO/V1MxPV.html">minimal amount of work possible</a>."Okay, let's get to today's market updates. This post first appeared in 10 Before the Opening Bell, a newsletter by Insider that brings you the inside scoop on what traders are talking about — delivered daily to your inbox. Sign up <a href="https://www.businessinsider.com/subscription/newsletter/10-things-opening-bell?r=US&amp;IR=T">here</a>. Download Insider's app <a href="https://link.insider.com/click/27645591.160803/aHR0cHM6Ly93d3cuaW5zaWRlci5jb20vYXBwP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Bf9c9aa56">here.</a><a href="https://markets.businessinsider.com/news/stocks/august-goldilocks-jobs-report-confirms-75-basis-point-fed-hike-2022-9"></a>1. The fast inflation spike is leading to a slow recession shock, and Bank of America said that can <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-fast-inflation-slow-recession-shocks-roil-stocks-2022-9">push the stock market to new lows</a>. The firm's analysts expect <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-fast-inflation-slow-recession-shocks-roil-stocks-2022-9">stocks to crumble</a> and Treasury yields to pop following Jerome Powell's hawkish and brief remarks in Wyoming. "Jackson Hole marked the end of 'Mission Accomplished' summer trade of peak CPI, peak yields, [and expected] Fed cuts in 2023," BofA said in a Friday note.The combination of inflation, fiscal stimulus, and prior era of wealth accumulation — not to mention the new era of "<a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-fast-inflation-slow-recession-shocks-roil-stocks-2022-9">economic cancel culture</a>" — are set to tip the economy into a recession, the strategists noted. All that has left BofA anticipating a <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-fast-inflation-slow-recession-shocks-roil-stocks-2022-9">bearish trajectory</a> for the S&amp;P 500 toward 3,300. And Friday's "Goldilocks" jobs data suggests that <a href="https://markets.businessinsider.com/news/stocks/august-goldilocks-jobs-report-confirms-75-basis-point-fed-hike-2022-9">more outsized rate hikes loom</a>, too, according to ING, a move that would weigh further on the stock market. Despite the economy being in a technical recession, ING analysts said, 3.5 million jobs were created. Both ING and BlackRock's Rick Rieder <a href="https://markets.businessinsider.com/news/stocks/august-goldilocks-jobs-report-confirms-75-basis-point-fed-hike-2022-9">forecasted that easing inflation</a> can allow the Fed to slow its pace of rate hikes."The Fed has described a willingness, and in fact a desire to reduce demand in the system, with somewhat higher levels of unemployment as an offshoot of the need to address high and persistent levels of inflation head-on," Rieder said. What's your prediction for August CPI figures ahead of the next Fed meeting? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>. In other news:<a href="https://markets.businessinsider.com/news/stocks/russian-stocks-rally-moex-economy-gdp-ruble-ukraine-sanctions-2022-9"></a><div type="image" title="Russian president Vladimir Putin in Iran" height="2529" width="5058" msid="94027531" hostid="261"></div>2. US stock futures rise early Tuesday. Meanwhile, oil prices are losing ground as investors weigh the OPEC+ move Monday to cut quotas by 100,000 barrels of crude a day. Russia has also vowed to <a href="https://markets.businessinsider.com/news/commodities/russia-not-resume-nord-stream-gas-flow-until-sanctions-lifted-2022-9" target="_blank" rel="noopener noreferrer">keep Nord Stream 1 natural-gas flows to Europe frozen</a> until the "collective West" lifts sanctions against Moscow. <a href="https://markets.businessinsider.com/premarket" target="_blank" rel="noopener noreferrer">Here are the latest market moves.</a>3. On the docket: Ashtead plc, Guidewire Software Inc, and HealthEquity Inc, all <a href="https://markets.businessinsider.com/earnings-calendar">reporting</a>. Plus, look out for the ISM report on business services PMI, due to be released by the Institute for Supply Management later this morning. 4. A top 1% portfolio manager recommended these stocks picks to invest like a contrarian. James Davolos, who has beaten the majority of his competitors over the last 10 years, broke down his investment process. <a href="https://www.businessinsider.com/stock-picks-to-buy-now-recession-federal-reserve-market-crash-2022-9">See the six stocks he's eyeing right now. </a>5. Bridgewater, Renaissance, and other top hedge funds bought nearly $1 billion of Berkshire Hathaway stock in the second quarter, according to a report. Even amid the broader market downturn, Warren Buffett's company has lost a modest 6% this year — <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-stock-hedge-funds-1-billion-q2-2022-9">far better than the S&amp;P 500, which has tumbled 17%. </a>6. Commodities could help pare losses for the traditional 60/40 investment strategy. The classic stocks and bonds mix is down 14% through August, but portfolios that add in commodities would be only down 1.1% this year, according to Bespoke Investment Group. <a href="https://markets.businessinsider.com/news/commodities/stocks-commodities-investing-strategy-portfolio-bonds-returns-60-40-markets-2022-9">This is what the strategists recommend. </a>7. Stocks in Russia have climbed to a three-month high. The MOEX index reached its highest level since May, even as economists debate the strength of the Russian economy. <a href="https://markets.businessinsider.com/news/stocks/russian-stocks-rally-moex-economy-gdp-ruble-ukraine-sanctions-2022-9">Here's what you want to know.</a>8. Goldman Sachs said home-price increases will "stall completely" as the bank turns bearish on the housing market. Economists from the firm expect property prices to stagnate nationwide, with declines likely in certain areas. <a href="https://www.businessinsider.com/housing-real-estate-market-outlook-home-price-declines-goldman-sachs-2022-9">Find out what parts of the country could see the biggest drops.</a> 9. A portfolio manager with 29 years of experience shared four stocks he thinks investors are severely underestimating. "We think the market will be in a much better place" by the end of October, according to Max Wasserman of Miramar Capital. <a href="https://www.businessinsider.com/stock-picks-to-buy-right-now-dividends-sp500-market-bottom-2022-9">Here's why the veteran investor expects stocks to bottom out next month.</a><a href="https://www.businessinsider.com/august-jobs-report-315000-payrolls-hiring-trends-unemployment-rate-2022-8"></a><div type="image" title="nonfarm jobs" height="837" width="1129" msid="94027538" hostid="261"></div>10. The latest jobs report suggests the Fed's plan to fight inflation might just be working. Job growth eased throughout last month, which hints that the economy is settling into a phase of weaker growth amid rising interest rates. <a href="https://www.businessinsider.com/august-jobs-report-315000-payrolls-hiring-trends-unemployment-rate-2022-8">Dig into the data here.</a>Keep up with the latest markets news throughout your day by checking out <a href="https://link.chtbl.com/therefresh">The Refresh from Insider</a>, a dynamic audio news brief from the Insider newsroom. <a href="https://link.chtbl.com/therefresh">Listen here.</a>Curated by Phil Rosen in New York. (Feedback or tips? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>).Edited by Max Adams (<a href="https://twitter.com/maxradams">@maxradams</a>) in New York and Hallam Bullock (<a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

How the rapid inflation spike can cause a recession shock - and what that means for your portfolio.

<ul><li><keyword id="46156" type="General" weightage="20" keywordseo="tvs-motor" source="Orion">TVS Motor</keyword> is reportedly in talks with a clutch of global private equity investors to raise $300-500 million for its electric vehicle subsidiary.</li><li>The two-wheeler automaker had recently announced its plans to create a wholly owned subsidiary for electric mobility business.</li><li>Shares of TVS Motor have surged 40% in the last one month as investors are excited about the company’s growth plans in the EV space.</li></ul>At present, Indian investors are very much excited about the emerging electric vehicle (EV) industry since one of the largest automakers <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> expanded its EV business with a $1 billion investment from a US-based private equity firm. Now another automaker <a href="https://economictimes.indiatimes.com/industry/renewables/tvs-in-talks-to-raise-up-to-500-million-for-ev-subsidiary/articleshow/87595707.cms">reportedly </a>in line to raise funds from global private equity investors for the EV business is south India-based two-wheeler maker TVS Motor. The company has garnered quite a lot of investors attention since it announced its plans to enter into the electric vehicle space. On October 21, the two-wheeler automaker had announced the incorporation of a wholly owned subsidiary for electric mobility business. The Economic Times report said that TVS Motor, India's third largest two-wheeler maker, is in talks with a clutch of global private equity investors to raise $300-500 million (₹2,220-3,700 crore) for its electric vehicle subsidiary at a valuation of $3.5-4 billion. This report triggered the stock for good as it surged 9% in a single day on November 9. In the last one month, shares of TVS Motor have surged 40%. <div type="image" title="TVS motor" height="900" width="1200" msid="87603542" hostid="261"></div> <a href="https://www.cnbctv18.com/market/stocks/tvs-motor-up-11-on-reports-of-company-exploring-investment-for-ev-arm-11390992.htm">Reportedly</a>, TVS Motor currently sells around 500 EV units a month (5-month average) and has about 4% market share in EVs. On October 13, private equity firm TPG’s Rise Climate Fund along with Abu Dhabi Development Holding announced an investment worth ₹7500 crore (around $1 billion at current prices) in Tata Motors’ electric vehicles (EV) segment. Tata Motors’ stock has been on a rising spree in the last couple of months on its strong hold in the EV industry. <div type="image" title="tata motors ch" height="900" width="1200" msid="87603626" hostid="261"></div> Companies involved into manufacturing of EV are flavour of the season Currently, investors are rewarding companies involved in manufacturing EV business as the demand for electric vehicles is booming with the government’s efforts to focus on alternatives to fuel based vehicles. On November 9, TVS Motor’s stock was the top gainer in the Nifty Auto index along with several auto component makers, whose stocks <a href="https://www.businessinsider.in/stock-market/news/tata-power-minda-corporation-bharat-forge-are-good-stocks-if-you-are-looking-to-invest-in-electric-vehicle-industry/slidelist/86059175.cms">have also been rallying </a>on involvement in the manufacturing of certain components for electric vehicles. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Auto companies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% return in 2021 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Olectra Greentech </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">395% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tata Power </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">215% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">175% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minda Corporation </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">92% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sona BLW Precisions </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">90% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bharat Forge </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">53% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TVS Motor </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">51% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Motherson Sumi </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">45% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/profit-margin-of-britannia-declines-in-q2-of-fy-2022/articleshow/87600806.cms">Britannia is unable to improve its profit despite a price increase — what’s next</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sapphire-foods-will-capture-the-wave-of-change-in-eating-habits-say-analysts/articleshow/87598674.cms">Sapphire Foods will capture the wave of change in eating habits, say analysts</a>

After Tata Motors, TVS Motor may raise money to run EV business

Hi, I'm Matt Turner, the editor in chief of business at Insider. Welcome back to Insider Weekly, a roundup of some of our top stories. <h3>On the agenda today:</h3><ul><li>After 28 years, "Day 2" has <a href="https://www.businessinsider.com/amazon-ceo-andy-jassy-day-2-culture-first-year-ceo-2022-8">finally arrived at Amazon</a>.</li><li>Will a recession spell <a href="https://www.businessinsider.com/recession-remote-work-supercharge-office-layoffs-2022-8">the end of working from home</a>?</li><li>Pandemic boomtowns from Boise to Phoenix <a href="https://www.businessinsider.com/pandemic-boom-towns-housing-market-slowdown-real-estate-agents-2022-8">are starting to go bust</a>. </li><li>Restaurant owners are fleeing <a href="https://www.businessinsider.com/travis-kalanick-cloudkitchens-ghost-kitchens-restaurateurs-fleeing-2022-8">Travis Kalanick's CloudKitchens</a>.</li></ul>But first: One of the biggest stories this week has been President Joe Biden's new <a href="https://www.businessinsider.com/student-loan-forgiveness-faq-what-you-need-to-know-eligibility-2022-8">student-loan-forgiveness policy</a>. Here to break down the dollars and cents of it all is our senior economic policy reporter Ayelet Sheffey.<a href="https://www.businessinsider.com/subscription/newsletter/insider-weekly">Sign up here to get our Insider Weekly newsletter in your inbox each Sunday.</a><h3><a href="https://www.businessinsider.com/student-loan-forgiveness-faq-what-you-need-to-know-eligibility-2022-8">The economics of student-loan forgiveness</a></h3><a href="https://www.businessinsider.com/student-loan-forgiveness-faq-what-you-need-to-know-eligibility-2022-8"></a>The day millions of student-loan borrowers have been waiting for arrived: On August 24, President Joe Biden <a href="https://www.businessinsider.com/biden-cancels-student-loan-debt-100000-people-making-125k-income-2022-5?esd">announced</a> he would be canceling up to $20,000 of their student debt, Insider senior reporter Ayelet Sheffey writes.But as always, the devil is in the details, and not everyone will qualify: <ul><li><a href="https://www.businessinsider.com/biden-canceled-20000-in-student-debt-for-pell-grant-recipients-2022-8">Pell Grant recipients</a> making under $125,000 a year will be eligible for up to $20,000 in debt relief.</li><li>All other federal borrowers making under $125,000 a year can get up to $10,000 in loan forgiveness. </li></ul>The announcement was coupled with <a href="https://www.businessinsider.com/are-student-loan-payments-resuming-pause-extended-debt-relief-2022-7">Biden's fifth extension of the student-loan-payment pause</a> through December 31, and if you still have a remaining student-debt balance after getting up to $20,000 knocked off, the president also has a proposal for that. His Education Department wants to introduce a <a href="https://www.businessinsider.com/get-lower-monthly-student-loan-payments-income-driven-biden-forgiveness-2022-08">new, income-driven repayment plan</a> to lower your monthly bills.Details on <a href="https://www.businessinsider.com/how-to-get-student-loan-debt-forgiveness-biden-just-announced-2022-8">how to access this relief</a> are minimal at this point, and the economic impact of this relief remains to be seen. But there are a range of estimates out there: The Penn Wharton Budget Model <a href="https://www.businessinsider.com/student-loan-debt-forgiveness-would-cost-300-billion-less-defense-2022-8">predicts</a> $10,000 in forgiveness will cost about $300 billion this year, and the White House <a href="https://www.whitehouse.gov/briefing-room/press-briefings/2022/08/24/press-briefing-by-press-secretary-karine-jean-pierre-domestic-policy-advisor-susan-rice-and-nec-deputy-director-bharat-ramamurti/">affirmed</a> that it doesn't expect this to have a meaningful impact on inflation — but it will make a dent in the $1.7 trillion student-debt crisis.<a href="https://www.businessinsider.com/student-loan-forgiveness-faq-what-you-need-to-know-eligibility-2022-8">Check out our FAQ on student-loan forgiveness.</a>Now, on to this week's top stories.<h3><a href="https://www.businessinsider.com/amazon-ceo-andy-jassy-day-2-culture-first-year-ceo-2022-8">A "Day 2" mentality is creeping into Amazon </a></h3><a href="https://www.businessinsider.com/amazon-ceo-andy-jassy-day-2-culture-first-year-ceo-2022-8"></a><div type="image" title="Andy Jassy next to logos for Amazon, Fresh, and AWS, and Prime boxes covered in cobwebs" height="600" width="1200" msid="93835294" hostid="261"></div>When he started Amazon in 1994, Jeff Bezos preached the importance of a "<a href="https://www.businessinsider.com/jeff-bezos-says-always-day-1-amazon-philosophy-2019-12">Day 1</a>" mindset: No matter how old a company, it should always preserve the speedy, risk-taking entrepreneurial zeal of that founding moment. But according to more than a dozen current and former Amazon employees, "Day 2" has finally arrived — and it's set to be a big challenge for CEO Andy Jassy.<a href="https://www.businessinsider.com/amazon-ceo-andy-jassy-day-2-culture-first-year-ceo-2022-8">Why Amazon is losing its "Day 1" intensity.</a><h3><a href="https://www.businessinsider.com/recession-remote-work-supercharge-office-layoffs-2022-8">What does a recession mean for the WFH revolution?</a></h3><a href="https://www.businessinsider.com/recession-remote-work-supercharge-office-layoffs-2022-8"></a><div type="image" title="WFH remote work" height="1000" width="1333" msid="93835296" hostid="261"></div>As a new downturn looms, millions of Americans are beginning to worry they could lose their newfound freedom to work from home. Bosses hate remote work — and if workers fear getting laid off, the thinking goes, they'll be forced to submit to whatever their employers demand.But senior correspondent Aki Ito argues the opposite: Rather than ending the work from home revolution, a recession could actually supercharge the country's transition away from the office.<a href="https://www.businessinsider.com/recession-remote-work-supercharge-office-layoffs-2022-8">Four ways a recession could save WFH.</a><h3><a href="https://www.businessinsider.com/pandemic-boom-towns-housing-market-slowdown-real-estate-agents-2022-8">Pandemic boomtowns are starting to go bust</a></h3><a href="https://www.businessinsider.com/pandemic-boom-towns-housing-market-slowdown-real-estate-agents-2022-8"></a><div type="image" title="Hot air balloons in Boise, Idaho reflect on a lake next to tree-filled park. Skies are blue." height="3072" width="4096" msid="93835298" hostid="261"></div>During the pandemic, homebuyers flocked to cities like Denver and Boise, which have less expensive homes and ample outdoor space. Now, those red-hot housing markets are cooling.In Boise, 70% of home sellers dropped their asking prices in July. There are more homes for sale, and they're lingering on the market longer before being sold. Insider spoke with brokers in seven hot spots, who shared the signs of slowdowns they're seeing.<a href="https://www.businessinsider.com/pandemic-boom-towns-housing-market-slowdown-real-estate-agents-2022-8">Signs of the housing slowdown.</a><h3><a href="https://www.businessinsider.com/travis-kalanick-cloudkitchens-ghost-kitchens-restaurateurs-fleeing-2022-8">Restaurant owners open up about CloudKitchens</a></h3><a href="https://www.businessinsider.com/travis-kalanick-cloudkitchens-ghost-kitchens-restaurateurs-fleeing-2022-8"></a><div type="image" title="Two Atlanta CloudKitchens operators, Anita and Chudi Orubele,hold their children" height="1335" width="1780" msid="93835300" hostid="261"></div>The company, founded in 2016 and run by the ex-Uber CEO Travis Kalanick, promises would-be restaurateurs a space in addition to amenities like nightly cleaning, marketing and sales advice, and tech integration with delivery platforms including DoorDash. But several CloudKitchens operators told Insider the company failed to deliver on those promises — and five people said they'd lost their savings trying to operate successful businesses inside CloudKitchens' spaces. <a href="https://www.businessinsider.com/travis-kalanick-cloudkitchens-ghost-kitchens-restaurateurs-fleeing-2022-8">Read our full report here.</a><h3>This week's quote:</h3>"I feel like I've made myself indispensable in my job — and therefore, I get away with a lot while working for Conan. I push the boundaries of what a normal assistant should and shouldn't do. A lot."<ul><li>Sona Movsesian, Conan O'Brien's assistant, <a href="https://www.businessinsider.com/conan-obrien-assistant-sona-movsesian-family-job-podcast-2022-8">on her working relationship with the TV host</a>.</li></ul><h3>More of this week's top reads:</h3><ul><li>Meet the Oracle exec some employees are calling <a href="https://www.businessinsider.com/oracle-marketing-layoffs-revenue-operations-mandate-cut-costs-netsuite-leaders-2022-8">"the hatchet man."</a></li><li>It's a really <a href="https://www.businessinsider.com/why-my-home-renovation-taking-forever-supply-chain-labor-shortages-2022-8">bad time to renovate your house</a>. </li><li>A newly approved depression drug might <a href="https://www.businessinsider.com/axsome-therapeutics-new-depression-drug-auvelity-mental-health-market-2022-8">disrupt the mental-health market.</a></li><li>Amazon's "Lord of the Rings" series could make or break <a href="https://www.businessinsider.com/amazon-lord-rings-power-billion-dollar-prequel-streaming-hollywood-2022-8">the company's streaming future</a>.</li><li>A 28-year-old shares how he and his wife make <a href="https://www.businessinsider.com/starting-airbnb-business-vacation-rental-superhosts-florida-tennessee">$118,000 a month from Airbnb</a>.</li><li>The world's richest people <a href="https://www.businessinsider.com/family-office-women-cio-investments-bezos-expeditions-brin-bayshore-2022-8">trust women to manage their personal investments</a>. </li><li>A UPS driver speaks out about having to go to the ER because <a href="https://www.businessinsider.com/ups-driver-heat-exhaustion-er-no-ac-in-trucks-2022-8">their truck has no AC and can reach 130 degrees.</a></li><li>Twitter insiders reluctantly agree with <a href="https://www.businessinsider.com/twitter-insiders-reluctantly-agree-with-some-whistleblower-revelations-peiter-zatko-2022-8">some of the whistleblower's revelations</a>.</li></ul>Plus: Keep updated with the latest business news throughout your weekdays by checking out <a href="https://link.chtbl.com/therefresh">The Refresh from Insider</a>, a dynamic audio news brief from the Insider newsroom. <a href="https://link.chtbl.com/therefresh">Listen here tomorrow.</a>Curated by Matt Turner. Edited by Jordan Parker Erb and Lisa Ryan. <a href="https://www.businessinsider.com/subscription/newsletter">Sign up for more Insider newsletters here.</a>

Biden announced his student-debt-forgiveness plans. Here's how much he canceled and what it might mean for the economy.

<ul><li>As the year of most IPOs in India comes to an end, another one kicks off.</li><li>The excitement for IPOs, particularly from retail investors, is likely to be a lot sober in 2022, says <keyword id="1038160" type="General" weightage="20" keywordseo="ajay-saraf" source="Orion">Ajay Saraf</keyword>, head of investment banking and institutional equities at ICICI Securities.</li><li>That would mean companies would be less confident in demanding high valuations, leaving more profit on the table for small investors in good companies.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them</li></ul>The bull run in Indian equities that continued from mid-2020 up until late 2021 had drawn in hordes of companies, including the likes of <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>, <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> and <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, who wanted to make the best of the brimming optimism and get the best price for their shares. Millions of retail investors wanted a part of the boom in Asia’s best performing stock market, and a lot of IPOs benefited from the frenzy. That kind of unbridled enthusiasm is unlikely in 2022, according to Ajay Saraf, head of investment banking and institutional equities at ICICI Securities in an interview to Business Insider. Saraf is not alone. Srinivas Rao Ravuri, chief investment officer at PGIM India Mutual Fund also <a href="https://www.moneycontrol.com/news/business/markets/daily-voice-2022-would-be-a-challenging-year-for-investors-and-companies-planning-ipos-says-srinivas-rao-ravuri-of-pgim-india-mf-7856261.html">reportedly</a> believes that 2022 would be a challenging year for investors and companies planning IPOs. But that’s not entirely a bad thing. If the cautious mood makes good companies, who need to raise money, tone down the pricing it may leave more profit on the table for small investors. There were 63 initial public offerings (IPO) in 2021 and they raised a cumulative <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-year-2022-in-india-ags-transact-adani-wilmar-prudent-corporate-advisory/slidelist/88492728.cms">₹1.18 lakh crore from investors</a> [hyperlink]. And, some of them doubled, or more, the <keyword id="1184176" type="General" weightage="20" keywordseo="ipo-investors" source="Orion">IPO investors</keyword>’ money on listing itself. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top performing IPOs of 2020 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% of listing gains </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Macrotech Developers </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">159% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Laxmi Organics </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">152% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Easy Trip Planners </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">151% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Barbeque Nation Hospitality </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">125% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nureca </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">116% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">StoveKraft </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">115% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">MTAR Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">110% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sona BLW Precision Forgings </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">102% </td></tr></tbody></table> But, 2022 is likely to be different. “My sense is 2022 could be more volatile… and the issue would be stuff like hike in global interest rates, tapering, central bank prioritising inflation over growth and increasing interest rate earlier than expected, which might make the market volatile and IPOs may not be as smooth and great as 2021,” said Saraf. Here’s an <a href="https://www.businessinsider.in/stock-market/markets/news/heres-why-the-spike-in-inflation-in-the-us-may-worry-markets-in-india/articleshow/82597218.cms">explainer</a> on why the rising inflation, and the expected hike in interest rates, in the US may affect markets in India. If the market mood is uncertain, then the companies planning IPOs are likely to be less confident in seeking high valuations. Startups like <keyword id="143842" type="General" weightage="20" keywordseo="mobikwik" source="Orion">Mobikwik</keyword> are already waiting patiently before they launch the IPO to get the best price. Founder Upasana Taku told Business Insider that she is <a href="https://www.businessinsider.in/business/startups/news/mobikwik-founder-says-they-are-not-selling-any-shares-in-the-ipo/articleshow/88392998.cms">waiting for the market conditions to improve</a> even though she has the SEBI approval to launch the IPO. Legendary investor Warren Buffet has said in the past that he has never invested in an IPO. “The idea of saying the best place in the world where I can put money is something where all the selling, and their commissions are higher, the animal spirits are rising, that’s going to be better than a thousand other things I can where there is no similar selling enthusiasm, and the desire to get the deal done and earn some commissions. That’s the best thing to buy in a single day?,” Buffett <a href="https://www.cnbc.com/video/2019/05/06/warren-buffett-on-why-hes-never-bought-an-ipo.html">asked in an interview</a> in May 2019. In 2022, the animal spirits will be lower i.e. the emotional trigger for investments will be contained and therefore the valuations may be cheaper. “Valuation will become a bit more in favour of investors and that is the trend which we will see (next year),” said Saraf. If the IPOs are priced cheaper, it is likely that the headroom for profit is higher for investors, particularly for those who invest for the longer term. While this is general wisdom, it may so happen that the excitement may be lesser for some companies and higher for others. “Consumer tech and BFSI will lead the overall IPOs in terms of sector concentration in 2022,” said Saraf. Here’s a list of IPOs expected to open in 2022 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Description </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AGS Transact </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Payment solution providers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Wilmar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fast moving consumer goods </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prudent Corporate Advisory </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail wealth management firm </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emcure Pharmaceuticals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacture of pharma products in areas -- gynaecology, cardiology, blood- related, oncology, respiratory, CNS &amp; HIV </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shri Bajrang Power &amp; Ispat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Integrated steel manufacturer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sahajanand Medical Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Medical devices company </td></tr></tbody></table>Does lesser excitement for IPOs mean that loss-making startups have no hope in 2022? Saraf doesn’t think so. “I think Indian investors, given how the year 2021 was, they are willing to put money into companies who are still not breaking even or whose profitability may be few years away...and this trend will continue,” said Saraf. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-year-2022-in-india-ags-transact-adani-wilmar-prudent-corporate-advisory/slidelist/88492728.cms">LIC, AGS Transact, Adani Wilmar and other IPOs coming up in early 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/mobikwik-founder-says-they-are-not-selling-any-shares-in-the-ipo/articleshow/88392998.cms">Mobikwik founder says they are not selling any shares in the IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/snapdeal-ipo-paper-reveals-that-it-is-going-offline/articleshow/88408081.cms">Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion</a>

The IPO excitement may be softer in 2022 but that can be a good thing for investors

Markets were on an uptrend last week and the long awaited and overdue lifetime high on BSESENSEX was finally achieved. BSESENSEX gained 374.71 points or 0.72 per cent to close at 52,474.76 points while NIFTY gained 129.10 points or 0.82 per cent to close at 15,799.35 points. The broader indices saw BSE100, BSE200 and BSE500 gain 0.93 per cent, 1.10 per cent and 1.30 per cent, respectively. BSEMIDCAP gained 1.85 per cent while BSESMALLCAP fared much better gaining 3.52 per cent. The action is certainly in the midcap and smallcap space and is borne out by the number of stocks hitting 52 weeks high on a daily basis. The India Rupee lost 7 paisa and was down 0.10 per cent to close at Rs 73.07 to the US Dollar. Dow Jones began the week with losses for the first three days and managed to recover partially, gaining on the remaining two days but closed with losses of 276.79 points or 0.80 per cent to close at 34,479.60 points. Dow Jones is looking tired after a spectacular rally and one should not get surprised if one sees the same correcting in the coming days ahead. BSESENSEX finally managed to hit a lifetime high and did so on Friday touching 52,641.53 points. This crossed the previous high made on February 16 of 52,516.76 points. Incidentally NIFTY had made a lifetime high on May 28 and it took a fortnight for the BSESENSEX to achieve the same, something which has not happened in a very long time. Trading in shares of DHFL has been suspended with effect from Monday June 14 on account of the resolution plan of the NCLT which has approved and ascribed no value to the shares of DHFL. While the step of suspension is appreciated, something of this nature should have been acted upon much earlier, as many proposals in NCLT have resolution plans where the listed shares have zero value. Once things become clear, such shares should be suspended from trading on the bourses and small investors hard earned money should be preserved. Monsoon has advanced into Mumbai and Maharashtra and the onset was led by a sharp downpour this time. Coinciding with the monsoon arrival, one is also seeing a deluge of primary market issues with four companies tapping the markets in the week beginning June 14. There would be two issues opening on Monday and closing on Wednesday the 16th of June while the remaining two would open on Wednesday the June 16 and close on June 18. Difficult to understand why such a bunching of issues has happened other than the fact that there was a hiatus in primary issuances for the last 10 weeks or so during April-May to mid June. Shyam Metalics and Energy Limited is tapping the capital markets with its primary issue and offer for sale. The issue consists of a fresh issue of Rs 657 crs and an offer for sale of Rs 252 crs in a price band of Rs 303-306. The issue opens on Monday the 14th of June and closes on Wednesday the 16th of June. The company is a steel producer and has capacities to make pellets, sponge iron, billets, TMT Bars and ferro alloys. The total capacity is 5.71 million tons per annum with a saleable steel capacity of 3 mtpa. The same is being expanded over the next three to three and a half years to double at 11.6 mtpa and a saleable steel capacity of 6 mtpa. In this capacity the company would be adding ductile pipes and aluminium foil as well. The company enjoys healthy margins at the EBITDA and PAT levels as compared to its peers. The EBITDA margins for the year ended March 2020 were at 14.5 per cent while they were at 6.5 per cent at the PAT level. In the first nine months ended December 2020, the same EBITDA has improved to 18.2 per cent and PAT to 11.5 per cent. The total income of the company which was at Rs 4,400 crs for the year ended March 2020 have improved to Rs 4,000 crs in the nine months ended December 2020. The EPS for the year ended March 2020 is Rs 14.57. The same has increased significantly to Rs 19.53 for the nine months ended December 20. The price earnings multiple based on March 20 numbers is at Rs 20.80-21 times. The same PE multiple, based on nine months annualised numbers for the year ended March 2021 would be 11.63-11.75. The share is attractively priced and offers appreciation for flippers-, medium- and long-term players as well. The remaining three issues which would be covered during the course of the week are from Sona BLW Precision Forgings Limited which has an issue size of Rs 5,550 crs. The next issue is from Dodla Dairy Limited which has an issue size of Rs 520 crs. The fourth and final issue is from Krishna Institute of Medical Sciences Limited of Rs 2,144 crs. On the Covid-19 front the world saw 17,64,22,387 patients, 38,10,952 deaths and 16,03,96,300 patients recovering. In India we saw 2,94,39,989 patients, 3,70,407 deaths and 2,80,43,446 patients recovering. Compared to the previous week, the world saw 26,95,291 new patients, 74,543 deaths and 37,90,303 patients recovering. In India we saw 6,30,650 new patients, 23,623 deaths and 10,58,665 patients recovering. The number of deaths in India seems much higher than normal because many of the states have corrected their number of deaths for earlier periods. About 25 cr vaccinations have been done in the country so far and hopefully the pace of vaccination would continue to pick up going forward. Coming to the markets in the week ahead, the immediate objective of a lifetime high on the BSESENSEX has been achieved. In the past, one has experienced euphoria once such a feat is achieved. The same is missing this time around. Whether it will happen in the week ahead or will give a miss this time around is unclear. The strategy for investors would be to continue to buy on sharp dips and sell on rallies. Secondly ensure that the quality of stocks one invests in has fundamentals and are not those which consist of just momentum. Markets have not had a correction for a long time and whenever they begin could be long and deep in terms of time and value. Prepare for the same and be nimble footed in the marketplace. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/delhi-unlock-restaurants-to-reopen-with-50-capacity-malls-markets-to-open-daily-says-arvind-kejriwal/articleshow/83479496.cms">Delhi unlock: Restaurants to reopen with 50% capacity; malls, markets to open daily, says Arvind Kejriwal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/weekly-crypto-roundup-wazirx-under-scrutiny-el-salvador-makes-bitcoin-legal-tender-and-more/slidelist/83478577.cms">Weekly crypto roundup: WazirX under scrutiny, El Salvador makes Bitcoin legal tender and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/dodla-dairys-520-crore-ipo-is-set-to-hit-the-market-on-june-16-check-out-all-details/articleshow/83433293.cms">Dodla Dairy's ₹520 crore IPO isn't to expand into new markets, but to strengthen its foothold where it already exists</a>

Sensex has hit a new record but it's not clear if it will trek higher

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><ul><li>In her upcoming book, Stephanie Clifford, aka Stormy Daniels, compared President Trump's penis to Toad, a beloved character from Nintendo's "Mario Kart."</li><li>This is gross, but excellent for democracy.</li></ul>Apologies if I'm the first one to inform you that Stephanie Clifford, aka Stormy Daniels, the adult entertainment star who was paid $130,000 to stay quiet about her affair with President Donald Trump, is about to publish a book.And in that book she <a href="https://www.businessinsider.com/stormy-daniels-discusses-trumps-intimate-anatomy-in-new-tell-all-2018-9" target="_blank" rel="noopener">describes the president's penis</a> as such <a href="https://www.theguardian.com/us-news/2018/sep/18/stormy-daniels-tell-all-book-on-trump-salacious-detail-and-claims-of-cheating">(via The Guardian):&#xa0;</a>"He knows he has an unusual penis. ... It has a huge mushroom head. Like a toadstool. …&#xa0;I lay there, annoyed that I was getting f----- by a guy with Yeti pubes and a d--- like the mushroom character in Mario Kart. ..."It may have been the least impressive sex I'd ever had, but clearly, he didn't share that <keyword id="6356002" type="UNKNOWN" weightage="100" keywordseo="opinion">opinion</keyword>."Naturally, you're disgusted. Toad is a joyful, innocent cartoon character and should in no way be used to represent what a grown man's sex organ looks like - let alone one that belongs to the president of the United States.But man, that sure is funny.Since an excerpt of her book hit the internet, "Toad" and "Mario Kart" have been trending on social media, and the <a href="https://www.businessinsider.com/donald-trump-toad-mario-kart-2018-9" target="_blank" rel="noopener">internet is generating memes mocking this situation</a> at a rapid clip. This is not only because what Daniels wrote is hilarious, it is because it is more than that, it's the chatter of a healthy democracy.At a time when Americans are worried about the strength of our democracy - when many sense Trump's personal penchant for authoritarianism creeping into our daily political discourse at all levels - the fact we can all laugh at something this personal to him is a great sign.&#xa0;It shows that Americans still know our leaders are not perfect individuals, that they are not omniscient or impervious. In fact, they can be questioned, and they can (and must) be ridiculed.Our democracy depends on it.<h2>I'm funny, but I'm not joking</h2>Trump - if you believe <a href="https://www.businessinsider.com/bob-woodward-explosive-trump-book-what-you-need-to-know-2018-9" target="_blank" rel="noopener">accounts by journalists like Bob Woodward</a> and Michael Wolff - doesn't quite grasp the importance of checks and balances that form the backbone of our democracy. Americans have found this alarming.More than that, his White House has experienced a number of&#xa0; setbacks for trying to claim sweeping authority it doesn't have. Like the time it tried to bar transgender Americans from the military, or, at the very outset of the administration - when it attempted to ban immigration from certain Middle Eastern and African countries. (It eventually succeeded in <a href="https://www.businessinsider.com/supreme-court-upholds-trump-travel-ban-2018-6" target="_blank" rel="noopener">implementing a version</a> of this.)Trump has openly expressed his admiration for authoritarian leaders like Russian President Vladimir Putin and North Korean dictator Kim Jong-un. He envies the image of a strong, unequivocal head of state in the form of say, China's president, Xi Jinping.Of course, that comes at a price, part of which is laughter. <a href="https://www.theguardian.com/world/2018/aug/07/china-bans-winnie-the-pooh-film-to-stop-comparisons-to-president-xi">Back in August, China banned the children's film Christopher Robin</a>. That is&#xa0;because, ever since Chinese netizens started using Winnie the Pooh to mock Xi on social media, he has been Pooh-sona non grata in China.Authoritarian leaders cannot suffer anyone laughing at their expense for very practical reasons. It takes away from their ability to make a populace fear them, and so it cannot be tolerated. As such, humor in authoritarian countries has historically taken on a different character.Instead of being about the man in charge, as this essay from <a href="https://www.hoover.org/research/when-politics-laughing-matter">The Hoover Institution</a> notes, humor in dictatorships is about the system and the individual's powerlessness in it. The essay points to a "classic Soviet joke":"One secret policeman asks another, 'So, what do you think of the government?' His colleague looks around before replying, 'The same as you, comrade,' whereupon Policeman No. 1 declares, 'In that case, it is my duty to arrest you.'"Daniels's joke, meanwhile, strikes directly at the heart of something for which Trump has always prided himself - his prowess with women. This is how political humor can and should work in a democracy, as a vehicle for humanizing and normalizing those in power.So laugh at this mushroom penis joke, people. It's good for us.&#xa0;And come on. This is funny:&#xa0;<div></div><div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/ray-dalio-bridgewater-debt-crisis-downturn-coming-about-two-years-2018-9">Ray Dalio says the economy looks like 1937 and a downturn is coming in about two years</a></h3> <div> </div> </div></hr>

Actually, Stormy Daniels making fun about Trump's penis is great for democracy

<div class="KonaFilter image-container display-table float_right"><div><div class="image">REUTERS/Erik De CastroPolice take up positions behind anti-riot shields as protesters try to remove a police barricade while Philippine President Benigno Aquino delivers his fifth State of the Nation Address (SONA) during the joint session of the 16th Congress at the House of Representatives of the Philippines in Quezon city, Metro Manila.</div></div></div>Stocks closed the session mixed, but little changed, as some economic data reported this morning came in mixed, another wave of corporate earnings were reported, and the U.S. and EU announced sanctions against Russian companies.
First, the scoreboard:
<ul>
<li>Dow: 16,923.67, -58.9, (-0.4%)</li>
<li>S&amp;P 500: 1,970.85, -8.1, (-0.4%)</li>
<li>Nasdaq: 4,444.50, -0.2, (0%)</li>
</ul>
And now, the top stories on Tuesday:
1. The Conference Board's <a href="http://www.businessinsider.com/consumer-confidence-july-2014-2014-7">consumer confidence index</a> for July rose to 90.9 from 85.2 in June, the index's highest reading sicne October 2007. Economists were expected the index to come in at 85.4. Along with the report, the Conference Board's Lynn Franco said, "Strong job growth helped boost consumers' assessment of current conditions, while brighter short-term outlooks for the economy and jobs, and to a lesser extent personal income, drove the gain in expectations. Recent improvements in consumer confidence, in particular expectations, suggest the recent strengthening in growth is likely to continue into the second half of this year."
2. On the housing front, the S&amp;P/Case-Shiller <a href="http://www.businessinsider.com/case-shiller-home-prices-may-2014-2014-7">home price index</a> fell 0.3% month-over-month in May, missing economists' expectations for a 0.3% gain. This was the index's first month-over-month decline since January 2012. On a year-over-year basis, prices rose 9.3%, also shy of the 9.9% that was expected. "The slowdown in price appears to be indicative of the weakening in housing activity more generally, particularly after the very slow start to the spring selling season," said TD Securities' Millan Mulraine.
3. Both the European Union, and later the U.S., announced round of economic sanctions against Russia, with the <a href="http://www.businessinsider.com/diplomats-eu-governments-are-going-after-russian-banks-over-ukraine-2014-7">EU's sanctions</a> marking the first action by the economic bloc against its eastern neighbor. The EU's sanctions included imposing sanctions on Russia's banking, technology, and arms sectors. The U.S.'s latest sanctions also targeted the same areas. BI's Brett LoGiurato has the <a href="http://www.businessinsider.com/obama-russian-sanctions-ukraine-statement-july-29-2014-7">full rundown here</a>. 
4. A number of major companies announced corporate earnings today, including shipping giant <a href="http://www.businessinsider.com/ups-q2-earnings-2014-7">UPS</a>, which saw shares fall more than 3% after its quarterly profit, and full-year earnings outlook, came in below expectations. Pharmaceutical giants Pfizer and Merck also reported earnings, with both companies reporting bottom-line profits that topped estimates on sales that declined over the prior year. 
5. Earnings are expected to continue rolling after the market close, with <a href="http://www.businessinsider.com/twitter-q2-earnings-2014-7">Twitter</a> expected to headline. Analysts are looking for Twitter to lost $0.01 per share and book revenue of $283.07 million. 
6. Windstream Holdings and Frontier Communications were the S&amp;P 500's biggest gainers after <a href="http://www.businessinsider.com/windstream-shares-explode-july-29-2014-7">Windstream announced</a> that it received a favorable ruling from the IRS to spin-off its fiber and copper network assets into a real estate investment trust, or REIT. Following the news, Timothy Horan, an analyst at Oppenheimer, said the announcement is positive for the whole communication infrastructure sector. Shares of Windstream gained nearly 14%, while Frontier gained 11%. 
7. Investors and market watchers are turning their attention to a busy day for economic data tomorrow, with the initial read on Q2 GDP expected at 8:30 am ET, and the results from the Federal Reserve's latest Federal Open Market Committee meeting expected at 2:00 pm ET. 
Don't Miss: <a href="http://www.businessinsider.com/corporate-debt-outstanding-2014-7">Corporate America Is Borrowing Like Crazy »</a>

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