Defence stocks have been on a tear, with the Nifty India Defence index hitting all-time highs. Over the past week, the index jumped around 7 per cent, far outpacing the flat performance of the Nifty 50. Over the past month, its 12 per cent gain has trebled the benchmark's return.
''The outcome of the state polls may lead to some strategy-related permutations and combinations and the markets may extrapolate it to the likely outcome in the general elections.'
Over the past three trading sessions, the stock of Cummins India has gained about nine per cent on strong January-March quarter (Q4) results and good near-term prospects. Its Q4 performance was led by a healthy 29 per cent revenue growth over the year ago quarter. This was largely on the back of a 33 per cent jump in domestic revenues while exports witnessed a growth of 17 per cent.
Despite near-term headwinds of rising input costs and the possibility of lower demand for products as Covid dented rural & urban India, and impacts both production & consumption, analysts remain bullish on stocks of fast moving consumer goods (FMCG) companies and expect the index to relatively outperform its peers in the second half of fiscal 2021-22 (FY22). In the past one year, prices of key commodities such as groundnut oil, mustard oil, Vanaspati, soya oil, sunflower oil and palm oil have shot up in the range of 20 per cent to 60 per cent, data show. The FMCG sector macros in this backdrop, according to analysts, have further deteriorated because of weakness in consumer demand and likely margin pressure due to elevated crude oil, palm oil and global food prices.
The divestment process, however, will not be an easy affair as there are multiple stakeholders, including the employee unions, whose concerns will have to be addressed.
What stocks will gain from a normal monsoon?
The Uttar Pradesh Police had said on Saturday that it would invoke the stringent National Security Act and Gangster Act against those accused in the killing of the 46-year-old man.
Hours after taking a 'U-turn' by informing the high court that it is withdrawing its notification dissolving all gram panchayats in the state, the Punjab government suspended two senior Indian Administrative Service (IAS) officers on Thursday for a 'technically-flawed' decision.
Of late, crime, politics, corruption and hate have been leaking out of every streaming platform. By the time Garmi drops, fatigue has already set in, observes Deepa Gahlot.
It was a unique celebration; there is no other instance where Harijans were feted to celebrate India's Independence, says Prakash Bhandari.
Given the controversy over Uttar Pradesh's population control moves, Hemant Shivsaran/Rediff.com digs deep to find out how many children BJP MLAs in UP have.
India Inc's earnings seem to have gathered momentum with a surge in the BSE Sensex over the past two quarters.
The double-decker bus belonged to Awadh Depot and was going to New Delhi from Lucknow.
Ramdev's Patanjali is a low-cost, low-margin business that gets away with pretty much what it wants because wily old Ramdev knows how to get around all politicians, says Vir Sanghvi.
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