According to data from Prime Database, Adani Wilmar, which was publicly listed in January this year, returned 15.30 percent on the trading day and a return of 155.59 percent at the market price as of Dec. 21.
Venus Pipes returned 128.53 percent, while Hariom Pipe Industries returned 112.58 percent after listing, while Veranda Learning returned 93.80 percent.
Among the post-listing negative returns, LIC posted negative returns of 26 percent, Delhivery 31 percent and Inox Green Energy 26 percent.
In terms of trading day performance, DCX Systems had the highest return at 49.18 percent, followed by Harsha Engineers at 47.24 percent and Hariom Pipe Industries at 46.86 percent trading day returns.
Prime Database Managing Director Pranav Haldea said that all IPOs that were able to obtain the required subscription were successful. Even if an IPO is subscribed 1 time, it shows that there was enough demand for the IPO at that price. After the IPO, Haldea said they are like any publicly traded company and their performance depends on the economy, sector and company performance.
Keyur Majmudar, Managing Partner at Bay Capital, said the year-on-year exuberance in IPOs was rightly tempered in 2022. Many IPOs scheduled for earlier in the year have been pushed back further into the year due to the macro scenario and geopolitical factors. Despite the challenges, investors continued to look for cheap IPOs, and a number of IPOs since the middle of the year have met with a good response. While investor appetite has been good for certain types of companies, it has been largely muted for internet-based and digitally-focused companies.
India outshone global markets in 2022 as it was resilient to multiple global headwinds such as: high inflation, rising interest rates, currency fluctuations, geopolitical uncertainties and the rush of FII selling, according to Motilal Oswal Broking and Distribution.
This resilience has been spearheaded by several structural tailwinds that have made India a bright spot on the world map.
Despite a rollercoaster ride, Nifty is up 7 percent for the year as of Dec. 12, compared to a 10 to 20 percent decline for most global indices. In fact, it hit a new lifetime high of 18,888 on November 22. The Nifty Midcap Index also remained resilient, gaining 7 percent year-to-date.
However, the Nifty Smallcap Index was the hardest hit, falling -11 percent. PSU banks have been a clear outlier, staging a 72 percent year-to-date rally, the report said.
India stands out as an oasis in the desert where the rest of the world faces numerous challenges. Domestic flows also remained strong and now FIIs have turned into buyers. Nifty is now trading at a 1-year forward P/E of 20x, which we think seems fair.
In CY23, global factors such as recession fears, geopolitical risks and rising Covid cases in China could keep equity markets volatile. Federal Reserve policy actions in 2023, along with those of the RBI, would matter where any moderation could encourage markets to gain momentum, the report said.
“We expect two themes to play out in CY23, viz. Credit growth and capital spending and therefore sectors like BFSI, capital goods, infrastructure, cement, housing, defense and rail could be the focus,” she added.
Anmol Das, Head of Research, Teji Mandi, said that 2022 could be due to the revival of the PSU banking space, which gained more than 60-65 percent from last year’s prices in private sector banks, which were higher in previous rallies Banks were laggards.
Although falling steel and metals prices took the shine off the metals sector last year, downstream companies in the metals indices continued to rally after multiple rounds of product price hikes blamed the rise in commodity prices along with supply-side challenges.
The pent-up demand during the pandemic years, as well as the resolution of semiconductor availability issues, led to selective good returns in the auto sector, while the opening of all Covid restrictions led to an increase in consumption volumes, giving FMCG companies one last breather.
George Thomas, equity fund manager at Quantum AMC, said 2022 had been an eventful year as the global economy experienced the downside of easy cash flow (quantitative easing). Inflation around the world tested multiple decade highs, forcing global central banks into a rate hike frenzy. As a result, the US Federal Reserve raised interest rates to their highest level in 15 years.
Amidst all this, India proved to be an outlier as most global markets posted negative returns. The relatively stable stock market in India was the result of a smart economic recovery from the pandemic shock and the growing dominance of retail investors.
-IANS
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