'The market's sharp decline recently has shaken the confidence of retail investors, leading to increased selling.'
Higher valuation creation in companies beyond the top 100 has given the domestic markets a shot at a $4 trillion market capitalisation (mcap) - a club exclusive to three countries currently. On November 23, the mcap of all BSE-listed stocks finished at a new record of Rs 328.33 trillion ($3.94 trillion), despite the benchmark indices ending with losses. The mcap was propelled by gains in the broader market, including small and midcap stocks - a trend dominant this year.
The stock exchange on which they are traded boasts higher profits than most of the companies whose shares are hitting new highs. Only 37 of approximately 2,000 listed companies with comparable data for 2022-23 (FY23) reported higher profits, while the rest had lower profits. Despite rising corporate profitability, the universe of companies that outperform the National Stock Exchange (NSE) in terms of profitability has been shrinking of late, according to an analysis of companies with comparable data over the past seven years.
The Adani Group led in adding net fixed assets, which are up more than 90 per cent since September 2019 or before COVID-19.
From the peak of $3.67 trillion in January, India's market cap has eroded by $676 billion amid rising bond yields and a record-breaking sell-off by overseas investors.
Thirteen companies have joined the Rs 1-trillion-plus market capitalisation club this year, so far. This even as the benchmark Sensex has gained less than 3 per cent on a year-to-date basis, underscoring the bullish undercurrent in the broader market. The trend shows a harsh second wave of Covid-19, subsequent lockdowns, and hit to the economic activity has made little dent into India Inc or shareholders' wealth. At the start of the year, there were 29 companies with a market value of more than Rs 1 trillion.
This year is set to be the third consecutive year when India's share of IPOs has fallen relative to the rest of the world.
In rupee terms, India's market cap is currently about Rs 184 trillion - 90 per cent of the GDP of Rs 203 trillion for FY20 at current prices.
As a result, the deadline for filing June quarter results ends on August 15. However, only 1,538 companies out of the 4,000-odd listed firms managed to declare their results within the usual deadline.
China is the world's second-largest - both in terms of GDP and m-cap. At $10 trillion, its m-cap is second only to the US at $38 trillion.
The COVID-19 pandemic and the ensuing lockdown may have put the best of funds on a backfoot of deal activity, RIL, however, has been an outlier. With 10 different investors brought in for its telecom venture Jio Platforms, RIL undertook 12 different transactions since April this year.
An analysis of S&P BSE 500 companies suggests that promoters of Indian private-sector companies in particular could end up paying at least 20 per cent more as additional tax on the same dividend income.
Session-wise data indicates small investors have taken money off the table in more sessions than they have pumped in additional capital.
Titan accounted for 59.6 per cent of his disclosed portfolio at Rs 8,355 crore. This is more than 10 times the next biggest holding, Federal Bank, at Rs 619 crore.
Twenty-three of the 31 stocks in his publicly disclosed portfolio consist small-cap stocks. jhunjhunwala's portfolio rose 15.2% in Q3.
Insurer has also made fresh investments since December 2015 quarter when RBI told banks to recognise bad loans
Sebi had given an extension last year for PSUs to meet 25% minimum public shareholding rule
As the 2019 election draws near, investors focus on long-dated options.
With more firms now offering stock options to their chief executives, the salaries of these managers are sky-rocketing.
In ITC, LIC has invested Rs 38,358.66 crore, according to Capitaline data.
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