Weekend Wrap: From NHPC to IDBI Bank, top market movers this week

Top News

• In FY 23, the direct tax-to-GDP ratio reached a record high of 6.1%, up from 5.62% in FY 14. The number of income tax returns filed in FY 23 doubled to 77.8 million, compared to 38 million filed in FY 14.
• India overtakes Hong Kong as the world’s fourth largest stock market. The combined value of shares listed on Indian exchanges reached $4.33 trillion versus $4.29 trillion for Hong Kong as of closing on 22 Jan’24.
• Shares of Medi Assist Healthcare Ltd got listed at a premium of 11% over issue price of ₹418 while IPO of EPACK Durable got oversubscribed by 16.79 times.
• PGIM AMC launched the NFO for PGIM India Large & Mid Cap Growth Fund. The NFO closes on 7th February 2024.