Morgan Stanley expects more IPOs and follow-on offerings in the coming months as companies raise growth and balance sheet repair capital. Year to date, equity issuances stand at USD 8.7 billion (Jan to July) versus USD 5.6 billion for the same period last year. “Also, we are arguing for an M&A cycle in the coming months, and combined with a continuing bid from domestic households, it appears to be an environment where demand for equities exceeds supply,” it said. The research house said, “Domestic flows remain a key debate in the marketplace with several market participants continuing to be skeptics of the surge in domestic liquidity contrary to our view.” Mahindra and Mahindra (M&M) today announced foray into construction equipment business by launching its first motor grader.
The Mumbai-based company today rolled out its first motor grader — Mahindra RoadMaster G75 — under the business vertical. “We are targeting to sell around 200 units over the next one year. We already have orders for 50 motor graders as of now,” M&M President Automotive Sector Rajan Wadhera told PTI.