A Rs 23,000-crore production-linked incentive (PLI) scheme for electronic components may boost margins and enable a broader product mix.
India's iconic Vande Bharat train project may finally find a solution to its two Russian-related issues.
'We expect the bull-market phase to still persist, but now led by large-caps which offer better valuation and benefit from FII inflows.'
'We expect continued pressure on midcaps, but any sharp correction looks unlikely from here on.'
Investments worth more than Rs 80 trillion are expected in roads, railways and urban infrastructure between now and FY30 and the supply chains helping to build this core infrastructure are also readying to cash in on the growth. In the first half of the current financial year, orders worth more than Rs 2.6 trillion were tendered in the roads and railways segment alone, according to data sourced from ICRA Ratings and Research. "India's transportation infrastructure sector is in high gear, and we enjoy a sizable share of it," said S V Desai, whole time director and senior executive vice president (Civil Infrastructure) for Larsen & Toubro.
The dream-run in railway stocks may soon run out of steam, caution analysts. The rally, which has lasted nearly a year, may meet time-wise correction post the Union Budget announcements as investors begin scalping profits. "There is going to be a build-up in expectations for the sector from the Union Budget, which is still two-odd months away.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
The recent rally in small and midcap (SMID) stocks is not backed by fundamentals and is a case of irrational exuberance, analysts at Kotak Institutional Equities said in a recent report. The fundamentals of most of these companies have, in fact, worsened over the last few months, they noted. Yet, some analysts expect the bull run in these stocks to continue amid intermittent corrections.
Analysts seem to be generally pessimistic about Bharat Heavy Electricals (BHEL). Out of 15 brokerages with recommendations since May this year, two have 'buy' while five have 'sell' and eight have 'underweight'/'reduce'/'underperform'/'hold' recommendations. The average target price of the public sector undertaking (PSU) is Rs 61. However, the stock has been consistently hitting new highs, which indicates that there is some kind of valuation mismatch.
After a sharp outperformance in the mid-and small-cap segments in the first half of calendar year 2023 (H1-CY23), analysts are now turning cautious on these two market segments and suggest investors stay selective and look for valuation comfort and earnings visibility before investing. The S&P BSE Midcap index has surged 13.7 per cent in H1-CY23, and the S&P BSE Small-cap index gained 12.7 per cent during this period, data shows. The S&P BSE Sensex, in comparison, has moved up 6.4 per cent.
Notwithstanding the risk involved, analysts are upbeat on micro-cap investing as India remains in a firm bull market. Moreover, these stocks are available at relatively cheaper valuations compared to large, mid and small caps, assuring alpha returns. With a market-capitalisation (market-cap) of up to Rs 10,000 crore, micro-cap stocks are outside the purview of Nifty 500 stocks, and are ranked from 501 to 750 in the market-cap ladder.
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
Days after senior West Bengal minister Partha Chatterjee was arrested by the Enforcement Directorate in connection with the school recruitment scam, Chief Minister Mamata Banerjee on Wednesday slammed the media for allegedly launching a "malicious campaign" against her party.
'When one was with Mother, one realised you were with somebody who was the nearest person to God.' 'She must have been God incarnate.'
The train arrived at Nagpur at 8.10 pm, bringing some relief to the state which is reeling under a surge in coronavirus cases and shortages of medical oxygen.
Private equity fund manager, ChrysCapital, has acquired a 10 per cent stake in Kolkata-based Titagarh Wagons and plans to invest over $500 million (Rs 2,3.4 billion) in India, over the next 2-3 years.
Ahead of Friendship Day, Rediff readers tell us about their best friends.
Expectations of muted expenditure on railway infrastructure and the assumption that there would be no further fare hikes may have contributed to the fall, according to analysts.
The railway minister said the target of 700 km of new lines in the current year (2012-13) had to be scaled down to 470 km due to inadequate resources.
The only flag bearers of Bengal Inc were Umesh Choudhury, vice-chairman, Titagarh Wagon; Sanjay Bansal, head, Ambootia Tea, S K Banerjee, head, Makaibari Tea.
Hours before the counting for West Bengal assembly polls, four Trinamool workers were on Thursday injured when some unidentified men hurled bombs at the party office in Titagarh area of North 24 Parganas district.
Incessant rains lashed the metropolis for the second consecutive day today killing two persons and injuring eight others, besides throwing normal life out ofgear. Police said Zahira Khatun, 35, was electrocuted after she came in contact with a galvanised wire near her shelter at Entally in central Kolkata.
There is a lot of optimism as regards the defence, railway and manufacturing sectors.
Rail stocks on Thursday fell by up to 8.6 per cent on the Bombay Stock Exchange (BSE) as cautious investors offloaded shares ahead of the Railway Budget, 2011-2012 to be presented on Friday.
Shares of engineering and wagon manufacturing firms surged by up to 4 per cent on the Bombay Stock Exchange in early trade on Friday ahead of the Railway Budget 2009-10. KK Birla Group company Texmaco, which is in the business of wagon manufacturing, gained 2.53 per cent to hit a high of Rs 123.50 within minutes of opening trade. Kalindee Rail Nirman rose by 2.80 per cent to Rs 229.30.
Experts caution that the rally in these stocks may fizzle out soon, as the overall market sentiment still remains weak.
Thousands of BJP workers from Kolkata and Howrah began marching towards Nabanna to protest the "worsening" law and order in the state.
Over 1.03 crore voters will decide the political fate of 306 candidates in this phase.
Railways Minister Sadananda Gowda will present his maiden Rail Budget on July 8 in Parliament.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
One person was shot dead while another suffered bullet injury in Burdwan and North 24 Parganas districts as voting began in 91 municipalities across West Bengal on Saturday.
In order to mark the sainthood of Mother Teresa, the government of India granted the trade mark registration.
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Most of the railway-related stocks, which had seen smart gains in the past few days ahead of the Rail Budget, saw profit-booking as Railway Minister Sadananda Gowda presented the Budget.
Sensex was up 184 points at 25,580 and the Nifty added 71 points to end the day at 7,654
The 30-share barometer started higher, but lost its way soon after the railway budget.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
State owned banks SBI and PNB were the top Nifty gainers along with ICICI Bank and auto shares.
The constitution of the Missionaries of Charity that declares, 'We shall not impose our Catholic faith on anyone, but have profound respect for all religions.'
Ricoh India, the largest gainer among these pack, has rallied 192 per cent from Rs 294 to Rs 859 on the BSE so far in the current calendar year.
Sensex slumped 518 points to end the day at 25,582 and the Nifty slipped 164 points to close at 7,623.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
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