Notwithstanding concerns about lofty valuations, smallcaps recorded their most significant monthly gain in nearly three years in November. The National Stock Exchange Nifty Smallcap 100 finished the month with a 12 per cent gain, the most since February 2021 when it rose by 12.2 per cent. After declining by 4.1 per cent in the preceding month, the Nifty Midcap 100 rose by 10.4 per cent, the most since July 2022.
Bharat Heavy Electricals Ltd (BHEL) is India's largest engineering and manufacturing enterprise, operating across energy, industry, and infrastructure sectors. The investment path for the stock is based on a large order backlog, continued strong order inflows, and rising power demand, which should push demand for BHEL's equipment and services. BHEL has historically held over 70 per cent market share in power projects.
Power equipment major Bharat Heavy Electricals on Monday announced an investment of upto Rs 1,000 crore (Rs 10 billion) in the next two years for expanding capacities to meet requirements of 11th and 12th five year plans.
A number of private companies have contributed to the development of ISRO's Chandrayaan-3 spacecraft which successfully landed near the south pole of the Moon on Wednesday evening.
Presenting the Union Budget, Sitharaman announced that the government will partner with the private sector to set up Bharat Small Reactors and in the research and development of small modular reactors.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
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.
Indian Railway Catering and Tourism Corporation (IRCTC) and Bharat Heavy Electricals (BHEL) are in talks for a partnership to run private trains. According to officials in the know, the two public sector undertakings (PSUs) are planning to form a special purpose vehicle (SPV) to run passenger trains on routes for which IRCTC has put in bids. "BHEL will be putting in the money required for private rail service, while IRCTC is going to focus on operational requirements," an official said. "IRCTC's business model has not been capital expenditure-focussed. It has built only operational enhancements," he added. Bids for public private partnerships (PPPs) in passenger train operations were opened last month.
Public-sector enterprise stocks have seen a good run thus far in 2023-24 (FY24), with the S&P BSE PSU Index surging by over 26 per cent during the period, compared to an 11 per cent increase in the benchmark S&P BSE Sensex.
The last year has seen public sector undertakings (PSUs) outperforming the Nifty50, albeit by a small degree. But PSU valuations are still, on average, less than half of private sector peers at price-to-equity or PE 8.7x for the Nifty PSU Index versus 20.9x for the Nifty50. There are several reasons for lower valuation.
Overall, volume growth is likely to be in the range of 3-8 per cent for two-wheelers and 5-7 per cent for passenger vehicles owing to healthy demand from urban and rural areas and pending order books.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
'If private capex has to kick in, there should at least be 2-3 years of visibility.'
Government-owned companies are more generous in rewarding their shareholders with dividends.
The divestment department has lined up a host of companies.
Over the past week, the BSE Sensex ended on a muted note, showing a marginal gain of 2.25 points at 28,114.56.
India Inc could be embarking upon a new phase of capital expenditure (capex) cycle, observed analysts, and suggest its revival would lead to a rerating of industrial stocks. Assisted by a property upcycle, analysts at Jefferies said several government initiatives were likely to drive capex. Indicators, they said, include a private project announcement at Rs 25 trillion for 2022-23 (up 150 per cent from pre-pandemic levels) and credit growth at about 16 per cent, which is closer to pre-pandemic highs.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Oil explorer ONGC again emerged as the highest profit-making PSU of the country during 2012-13 while telecom major BSNL turned out to be the biggest loss-making enterprise, says the Economic Survey.
Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
Wipro, Steel Authority of India, HDFC Bank, Mahanagar Telephone Nigam, Bharat Heavy Electricals and Reliance Commnications among companies reporting a decline in headcount in FY17.
Ministries such as road transport and heavy industries are learnt to have objected to NITI Aayog's attempts to become an implementing body for the EV programme.
Investors should await consistent growth metrics before looking at an investment in the company.
Israel has expressed interest in sharing its expertise on water purification and waste water treatment under Prime Minister Narendra Modi's pet project for cleaning river Ganga.
In the past 10 trading sessions, shares of the state-owned company have shot up more than 50 per cent.
In the prevailing difficult circumstances, the Congress is the only party that can provide capable and decisive leadership to the country, Kharge asserted.
Time and cost overruns are endemic to most Indian warship building projects. A central reason is the Indian Navy's operational assessment that it is better to get a warship late and ov
Venkataraman Krishnamurthy, who is considered as the turnaround man of several Indian corporate houses like BHEL, Maruti Udyog, SAIL and Gail (India), passed away on Sunday at the age of 97. Krishnamurthy is considered as "the father of public sector undertakings in India" by many in India Inc. Born in the temple town of Tamil Nadu's Karuveli, he started his career as an airfield technician during the Second World War.
The army, air force and navy will all benefit from the defence ministry's approval of 'Make in India' equipment.
The rumour verification process would now be triggered by changes in price or 'material price movements', as the paper defines it. What this means is that companies would need to verify rumours only if the share price moves significantly.
In a bid to strengthen their bilateral economic ties, India and Indonesia plan to explore opportunities for co-operation in oil and gas, and railway sectors, among other areas.
There is a lot of optimism as regards the defence, railway and manufacturing sectors.
According to research by IHS Markit, for an ecosystem still grappling with infrastructure issues -- the high cost of EVs and a greater OEM (original equipment manufacturer) focus on electrifying two-wheelers and commercial vehicles first -- the share of such vehicles is expected to be 4 per cent by 2030, reports Pavan Lall.
The home minister said the northeast and the Left-wing extremism-affected areas in the country are tribal-dominated regions and security is a precursor to development there.
Completed projects saw an improvement of 29.2 per cent over the June quarter, which is valued at Rs 0.31 trillion.
If cleared, the ONGC arm will become the first subsidiary company of an existing Maharatna to get into this superior league among government-owned entities.
The Rs 63,000-cr Mumbai-Ahmedabad high-speed corridor and Rs 14,000-cr CSTM-Panvel suburban corridor are two of the largest projects.
In 2008, the 13 companies on the list accounted for 34 per cent of the overall m-cap.
Capital goods stocks rallied nearly 16 per cent since January on purchases by foreign institutional investors and in anticipation of a change of government at the Centre.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances