This is first time in 25 years that a benchmark equity index in India is trading at a P/E multiple of 40x or higher.
Indian equities are no longer cheap vis-a-vis global markets, and only a short distance away from being the most expensive they have ever been.
The country's m-cap is now 4.3x India's, whose m-cap grew just 17 per cent to $2.5 trillion in CY20 -- 2.4 per cent of the global m-cap.. Ashley Coutinho reports.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
More people seemed to be returning to their workplaces towards the end of the year, even as railway and electricity numbers disappointed. Most other indicators held on to their gains.
According to the new proposals, resident promoters or a foreign promoter from a FATF jurisdiction can set up a market infrastructure institution.
The unlocking of the economy since June led to a significant recovery in various macro, micro and high-frequency data points, resulting in the equity markets surpassing their previous lifetime highs.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
The new entrants comprise Asian Paints, Britannia, Titan, Nestl, Bajaj Finance and Bajaj Finserv.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
Polarisation and the increase in index weight of a few a stocks have weighed on performance. The worst performers include Nippon India Large Cap and HDFC Top 100 (2.6 per cent).
Rs 1,000 now buys $13.5 against $14 a year ago.
The new PN3 norms and lack of clarity on what constitutes beneficial ownership are the primary reasons for the decline in investments from China and Hong Kong.
Assets under management of India-dedicated funds have slid 20 per cent in the year to November to $35.2 billion.
Fund managers may end up losing out on crucial information during market hours, leading to information asymmetry vis-a-vis other institutional investors such as alternative investment funds, insurance players, or foreign portfolio investors.
Some analysts see more upside in FMCG stocks given the performance gap between the sector and the market.
While the amount collected is a tad lower than last two years, it may surpass the previous two years' collections by the end of the year.
Business Standard tracks pollution levels, goods ferried by the Indian Railways and consumer visits to various categories of places, in addition to power generation and traffic numbers to understand the fast-changing situation on the ground.
In the past few years, MFs have emerged as significant institutional buyers, often offsetting the selling by FPIs.
There is positive correlation between crude oil prices and Indian equities and investors can expect more upside after the recent rally in Brent crude price.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances