This correction has given a good entry for long-term investors. One should buy quality stocks and those with growth potential.

Buybacks tend to boost returns on equity and earnings per share (EPS) as the number of outstanding shares decreases. However, this has not translated into the performance of the stock price for many companies. Sundar Sethuraman reports.

Of the 854 stocks that quoted less than Rs 20 on March 23, 2020 - when the Sensex hit more than a three-year low - 482 have doubled.

RailTel Corporation of India, Indigo Paints, Home First Finance Company, Indian Railway Finance Corporation, and Suryoday Small Finance Bank are among the companies looking to tap the market.

So far this month, another $4.5 billion (Rs 33,000 crore) has flown into domestic stocks.

The so-called high networth individual portion saw 620x more demand than shares on offer.

Through the IPO, Burger King has raised Rs 450 crore, which will be used to rollout new outlets and retire debt.

Last week, govt sold shares worth Rs 220 crore in the open market without making a formal announcement. The deal came to light only this week.

Gland Pharma, promoted by China's Fosun, has extended its gains, is up 40 per cent since its listing.

The brokerage believes the economic growth cycle is not fully priced in. It has revised upwards the earnings per share (EPS) estimate for Sensex.

Sebi has said investment banks should direct investors to original sources such as stock exchanges, where data is publicly available.

More cos could join the likes of Burger King and Antony Waste in giving listing another shot.

Rakesh Jhunjhunwala has picked up a 1.29 per cent stake in Tata Motors. The September quarter shareholding pattern disclosed by the automaker showed Jhunjhunwala holding 40 million shares.

IPO

Many are now hoping the markets remain in good stead as they look to finalise the dates for IPOs, such as UTI MF, Computer Age Management Services, Happiest Mind, and Angel Broking. Most of the issues are expected to come to the market in the second half of September.

About Rs 4,257 crore worth of bids have been received so far and the Centre hopes that retail investors - those investing up to Rs 2 lakh - will place bids worth at least Rs 750 crore.

In the past four months, $7.5 billion has flowed back into domestic stocks, helping the benchmark indices bounce back more than 40 per cent from their 2020 lows.

What worked for the markets was favourable global investor sentiment and encouraging flows into the emerging markets following stimulus measures taken by central banks.

The government holds 90 per cent stake in ITI which is valued at Rs 7,550 crore.

The Street was hoping that investors will lap up shares of high-dividend companies on optimism that their payouts will increase further, thanks to the 20 per cent tax saving. However, the trade failed to materialise as wealthy investors stayed away fearing high tax outgo, and experts raised doubts on whether companies would actually increase cash dole outs.