21 Apr 2017

IPO of Avenue Supermarkets

FPIs bought a net $4.7bn in cash equities in March, the highest monthly volume ever. Domestic interest in the market was sustained in the IPO of Avenue Supermarkets, which was oversubscribed by 104 times. Finally, Infosys reported fourth quarter sales ahead by 3.4% and flat earnings, in spite of headwinds from INR appreciation and visa issues in the US. China has reported quarterly growth of 6.9% which will be compared with India’s Q4 number soon; forecasts suggest a number in the low sixes, for an annual rate of 6.7%. The RBI is forecasting 7.4% for FY18. India is already domestic demand driven, something for which China is striving.

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