Krishna Kant

All stories by Krishna Kant

From HUL to Britannia, FMCG companies continue to lag India Inc peers

From HUL to Britannia, FMCG companies continue to lag India Inc peers

Rediff.com1 days ago

Big, listed FMCG (fast-moving consumer goods) companies such as Hindustan Unilever, ITC, Nestl, and Britannia have been top-performing stocks on the bourses in recent weeks. The Nifty FMCG index, which tracks the share prices of the country's top 15 listed FMCG companies, is up 1.9 per cent month-to-date in May compared to a 2.4 per cent decline in the benchmark Nifty 50 in the period.

Gap in stock prices, corporate earnings at highest level since 1990

Gap in stock prices, corporate earnings at highest level since 1990

Rediff.com22 Apr 2024

As the Indian equity markets scale a new high, the gap between stock prices and the underlying corporate earnings has widened to its highest level in more than 30 years. At its current level, the benchmark BSE Sensex has run up nearly 31 per cent more than the growth in its underlying earnings per share (EPS) in the past 20 years. Most of the divergence between share prices and underlying earnings growth occurred in the past 10 years.

Nifty cos' profit growth seen at slowest in 5 qtrs

Nifty cos' profit growth seen at slowest in 5 qtrs

Rediff.com16 Apr 2024

The brokerage earnings estimate for the January-March 2024 quarter (Q4FY24) for Nifty 50 companies hints at a slowdown in corporate profit growth while revenue increase is likely to be in low single digits as in the previous two quarters. According to various brokerage estimates, the companies' combined net profits are expected to grow 3.1 per cent year-on-year (Y-o-Y) in Q4FY24, the slowest in the last five quarters. For comparison, the index companies' combined net profits were up 8.2 per cent Y-o-Y in Q3FY24 and 3.4 per cent Y-o-Y in Q4FY23.

Earnings of India's top 500 firms growing faster than US peers'

Earnings of India's top 500 firms growing faster than US peers'

Rediff.com13 Apr 2024

Profits of India's top listed companies have been growing at a faster pace than those of their American peers, but when it comes to revenue growth, the order has reversed recently. The combined net profit of the S&P 500 companies was up 14.1 per cent year-on-year (Y-o-Y) during the trailing 12 months (TTM) ended December 2023, as against 17.4 per cent profit growth logged by the BSE 500 companies in the same period. This is the second consecutive year of faster profit growth for the BSE 500 companies.

How Many Sensex Companies Bought Electoral Bonds?

How Many Sensex Companies Bought Electoral Bonds?

Rediff.com30 Mar 2024

Collectively, these companies spent Rs 628 crore (Rs 6.28 billion) on political contributions in the past five years, according to their annual reports.

How companies show electoral donations in annual reports

How companies show electoral donations in annual reports

Rediff.com20 Mar 2024

A reading of the reports suggests that there is no standard practice for reporting political contributions and it is left to the company's discretion to report them as they find fit.

Home Is Where The Revenue Is, Find India's Biggest MNCs

Home Is Where The Revenue Is, Find India's Biggest MNCs

Rediff.com8 Mar 2024

In FY23, Indian operations accounted for 41.6 per cent of the consolidated revenue of India's top five multinationals, up from 34 per cent in FY18 and 33.2 per cent and 34.2 per cent in FY21.

Margin gains propel India Inc's Q3 profit

Margin gains propel India Inc's Q3 profit

Rediff.com24 Feb 2024

Corporate India reported high double-digit growth in net profit for the fourth consecutive quarter in October-December 2023 (Q3FY24), driven by margin gains from lower prices of raw material and energy.

TCS mcap share in Tata group falls below 50%, a first in more than a decade

TCS mcap share in Tata group falls below 50%, a first in more than a decade

Rediff.com19 Feb 2024

Tata Consultancy Services' (TCS') contribution to the overall market capitalisation (mcap) of listed Tata group companies has slipped below 50 per cent for the first time in over a decade. This has happened amid a rally in other Tata stocks, led by smaller companies, even as TCS, the group's largest company by mcap, has lagged. In recent quarters, Tata's listed firms have emerged as leading performers on the bourses, with the group's combined mcap crossing Rs 30 trillion early last week - a first for a private sector conglomerate.

Decline in volume, revenue growth drags FMCG players

Decline in volume, revenue growth drags FMCG players

Rediff.com14 Feb 2024

The slowdown in private consumption in the economy is taking a toll on the growth of fast-moving consumer goods (FMCG). The net sales growth of listed FMCG companies hit a 14-quarter low of 2.5 per cent in October-December 2023 (Q3FY24). This is the lowest revenue growth for the industry since the June 2020 quarter, when the FMCG firms in the Business Standard sample had reported a 13.2 per cent Y-o-Y decline in combined net sales owing to the lockdown.

Banks' valuation discount to Sensex hits 10-year high

Banks' valuation discount to Sensex hits 10-year high

Rediff.com8 Feb 2024

Banks, the biggest component of the Indian equity market, are now trading at a big discount to the benchmark indicesThe BSE Bankex index, which tracks the share price of the 10 top listed banks, is trading at a trailing price to earnings (P/E) multiple of 15.3X, nearly a 40 per cent discount to the BSE Sensex current P/E of 24.37X. This is the biggest valuation gap between the two indices in at least 10 years. Similarly, the BSE Bankex price to book ratio (P/B) of 2.22X is 40 per cent lower than the current Sensex P/B ratio of 3.61X.

BFSI weighting in Nifty50 hits 7-year low as HDFC slips

BFSI weighting in Nifty50 hits 7-year low as HDFC slips

Rediff.com29 Jan 2024

After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.

Earnings-equity valuation gap of Indian IT companies widens

Earnings-equity valuation gap of Indian IT companies widens

Rediff.com23 Jan 2024

The Nifty IT index rose by 5.14 per cent on Friday (January 12), marking its best performance in a day since July 2020, followed by another 1.9 per cent rally on Monday. With this, the index, which tracks the share prices of India's 10 biggest information technology (IT) services companies, has increased 7.1 per cent in the past two sessions. However, the substantial rally in the index occurred at a time when India's four largest IT companies reported their worst quarterly performance in over five years.

Mcap club: Tata group remains No 1; Murugappa, JSW in top 10

Mcap club: Tata group remains No 1; Murugappa, JSW in top 10

Rediff.com15 Jan 2024

Tata Group remained India's largest business conglomerate in market capitalisation in calendar year 2023 while the Mukesh Ambani camp raced ahead of the Adani businesses to become the second-largest. The Tata companies ended 2023 with a combined group market capitalisation of Rs 28.68 trillion, up 35 per cent from the Rs 21.2 trillion at the end of December 2022. Ambani's group mcap is Rs 19.42 trillion at the end of CY23, up 10.7 per cent from the Rs 17.6 trillion a year ago.

Adani Dethrones Ambani Again

Adani Dethrones Ambani Again

Rediff.com12 Jan 2024

The combined market capitalisation of Adani group companies increased to Rs 15.11 trillion last week. As a result, Gautam Adani's family raced ahead of Mukesh Ambani of Reliance Industries, reclaiming the title of India's wealthiest promoter.

India's Billionaire Club Has New Entrants

India's Billionaire Club Has New Entrants

Rediff.com9 Jan 2024

The IPO boom in 2023 added four new promoters to the billionaires' list.

Bharat Forge rides on diverse product mix, customer base

Bharat Forge rides on diverse product mix, customer base

Rediff.com3 Jan 2024

Bharat Forge, the Pune-based automotive component maker, has been one of the top-performing companies in its segment. The company's stock price is up 39.3 per cent since the beginning of the 2023 calendar year, surpassing other leading automotive component makers such as Bosch and Samvardhana Motherson International. The stock also outperformed the benchmark BSE Sensex, which is up 17.3 per cent year to date so far.

Banks, finance companies lose weight despite record earnings

Banks, finance companies lose weight despite record earnings

Rediff.com27 Dec 2023

Even as banks and finance companies are reporting record-high earnings, their weighting in the benchmark National Stock Exchange Nifty50 Index has seen a downward trajectory. Investors expect a stronger performance from other sectors in the new year. Currently, banking, financial services and insurance (BFSI) companies collectively hold a weighting of 34.5 per cent, down from 36.7 per cent at the end of December 2022 and a record high of 40.6 per cent at the end of December 2019. This represents the sector's lowest weighting in the index since December 2021 when it stood at 33.7 per cent.

Equity market valuation rises as US bond yields ease

Equity market valuation rises as US bond yields ease

Rediff.com18 Dec 2023

The Indian equity market valuation has been moving in tandem with the US 10-year treasury yield. While the benchmark US bond yield has witnessed a nearly 70 basis point decline since the end of October this year, dropping from 4.93 per cent to 4.23 per cent on Friday, the Sensex earnings yield has slipped by nearly 45 basis points - from 4.5 per cent to 4.05 per cent. Previously, Indian equities' earnings yields rose in sync with the US bond yields.

Realty sector's inventory surges to over Rs 1 trn, outpacing sales growth

Realty sector's inventory surges to over Rs 1 trn, outpacing sales growth

Rediff.com13 Dec 2023

The past 18 months have seen a resurgence in the real estate industry, with developers regaining the ground lost to the Covid-19 pandemic. But it is once again adding inventory at a pace faster than sales. The industry's inventory rose by 28 per cent year-on-year (Y-o-Y) in H1FY24, com-pared to a 25.5 per cent year-on-year increase in net sales during the same period.

Next