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The government has set an ambitious target of raising Rs 1.75 lakh crore from divestment in 2021-22, higher than Rs 38,000 crore it raised last fiscal. Most disinvestment proceeds will be raised by selling stake and management control in companies like Bharat Petroleum Corp Ltd, Air India, Shipping Corp of India and by listing Life Insurance Corp.

The initial public offer (IPO) of healthcare chain Vijaya Diagnostic Centre and specialty chemicals maker Ami Organics will open for subscription on September 1 and conclude on September 3. So far in the current fiscal, a total of 20 companies have mopped up more than Rs 45,000 crore through IPOs. This is much higher than Rs 31,277 crore raised by 30 firms in the entire 2020-21.

Prospective bidders, who intend to subscribe to the scheme, can bid for a minimum of 1 gm of gold at Rs 4,732 per gram against Rs 4,790 per gram for the previous tranche. There will be a Rs 50 discount for prospective investors that will bid online. The issue closes on Friday, September 3. The Certificate of Bond(s) will be issued on September 7.

“Some correction had to happen in midcaps that is what we are seeing right now. Post this correction, good quality midcaps should start doing very well and will give good returns over the next one year.”

In the coming week, the market expects the release of key economic data such as Q1 GDP growth rate and Manufacturing & Service PMI. The Q1 GDP is expected to show a sharp growth owing to a low base and recovery in economic activities towards the end of the quarter. Two IPOs will also keep the primary market buzzing.

“We will continue to see volatility in the metal stocks, especially steel, after a fantastic runup. More runup left in midcap indices in next couple of quarters ”

Tech companies from India, South Korea and Southeast Asia have raised $8 billion from first-time share sales this year, already blowing past the previous annual peak. The tally is poised to get bigger with planned listings by companies including Indian fintech giant Paytm and Indonesian internet conglomerate GoTo. Investors are already boosting exposure to markets outside China, with some buying into IPOs from countries like India and Indonesia for the first time.

The yield curve just posted its first week of steepening since July, rebounding from its flattest level in a year after a highly anticipated speech by Federal Reserve Chair Jerome Powell. He stressed that the central bank could start slowing its debt purchases in 2021, though it won’t rush to begin raising rates thereafter.

On the progress towards Fed’s objectives of greater than 2% inflation and maximum employment, the expressions were far emphatic than earlier; he confirmed that conditions of “substantial further progress” towards meeting these goals have been met.

Current reports suggest that the San Francisco based company will partner up with ​Equitas Small Finance Bank for the deposits. Other banks are expected to join too, with Ujjivan Small Finance Bank and AU Small Finance Bank rumoured to be next in line.