In anticipation of the IPOs of FCH and RPL, investors were seen off loading small and mid-cap stocks heavily.
The combined market capitalisation (m-cap) of five of the country's top10 firms grew by Rs 35,237.57 crore (Rs 352.37 billion) during last week, with Coal India emerging as the second most valued company after Reliance Industries.
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).
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
In the list of top-five domestic firms, RIL was placed at the top of the pack followed by TCS, HDFC Bank (Rs 6,50,136.04 crore), HDFC (Rs 3,85,207.96 crore) and HUL (Rs 3,76,545.49 crore).
Among the Sensex constituents, as many as 16 stocks closed with losses with Nestle India, Kotak Mahindra Bank, IndusInd Bank, Bajaj Finserve, Titan and JSW Steel being the major laggards. Index major Reliance, Hindustan Unilever, Maruti and Tata Steel also declined due to selling pressure. In contrast, NTPC, TCS, Tech Mahindra, Bajaj Finance bucked the trend and ended the day in green. Axis Bank, Bharti Airtel, Mahindra & Mahindra and Tata Motors also defied the trend.
The Sensex finally closed with a gain of 52 points at 7,944 on the first day of the Samvat year 2062.\n
In line with the broader market, shares of ONGC on Tuesday surged nearly one per cent to touch an intra-day high of Rs 1,415 thus, fuelling the market capitalisation of the firm to a whopping Rs 3,00,511 crore (Rs 3,005.11 billion) in the morning trade.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
Good growth prospects and reasonable valuations will help select mid-caps deliver superior returns, say experts.
Three fund managers share their views and state where they are looking for value.
While Tata Consultancy Services, HUL, ITC and Infosys saw a rise in their market capitalisation (m-cap) for the week ended Friday, RIL, HDFC Bank, HDFC, Maruti Suzuki India, SBI and Kotak Mahindra Bank suffered losses.
Shares of CDMA technology pioneer Qualcomm have come under tremendous pressure over the past one month, losing a market cap of $11.7 billion on the back of Reliance Communication, one of its major customers, mulling the option of switching to GSM.
Among the Sensex constituents, 20 stocks ended the session in green with HDFC Bank, Titan, Tech Mahindra, and Asian Paints being the major gainers. TCS, Maruti, Kotak Mahindra Bank and Bajaj Finserve were the other gainers. In contrast, SBI, Bharti Airtel, JSW Steel, PowerGrid, ITC and Reliance closed the trading with losses.
Monday's steep fall turned Sensex's yearly returns to - 2.57%, but only two large-cap funds did worse.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
Shares of RIL rose by over 1 per cent to a multi-year high of Rs 1,410 on BSE
'In India, managers and the leadership almost glorify overworking.'
In 2008, the 13 companies on the list accounted for 34 per cent of the overall m-cap.
Gross refining margins may decline sequentially but improving petro-chem margins will boost earnings
RTL is part of Europe's largest media firm, Bertelsmann AG, and has a market cap of $15.5 billion (Rs 69,900 crore).
Tata Steel, Tech Mahindra, NTPC, JSW Steel, Power Grid, UltraTech Cement, HCL Technologies and HDFC Bank were among the major gainers. Bharti Airtel, Hindustan Unilever, Axis Bank, Reliance Industries, Kotak Mahindra Bank, ICICI Bank and IndusInd Bank were among the laggards.
Trai has announced that it may fix prices of pay channels on the direct-to-home (DTH) platform in line with the Rs 5 per channel cap on conditional access system (CAS) services in Delhi, Mumbai and Kolkata. This move will lower the fees but hit the income of broadcasters from DTH companies. However, new DTH entrants will benefit from the move as their cost of content will decrease. For the 2 existing DTH companies, Dish TV & Tata Sky, the current rates are likely to continue.
Actively-managed large-cap mutual fund (MF) schemes have managed to regain some lost sheen this year after faring poorly in the 2022 calendar year (CY22). At the end of the first six months (H1) of CY23, 78 per cent of the active large-cap schemes were ahead of the Nifty50 index funds as against just 26 per cent in 2022. When compared to the Sensex index funds, 61 per cent active funds have delivered better returns, shows an analysis of Value Research data.
Trai had asked the Attorney General for views on Jio's free voice and data offering till March 2017, that rivals have termed predatory.
RIL was placed at number one position, followed by TCS, HDFC Bank, HUL, HDFC, ITC, State Bank of India, Infosys, Kotak Mahindra Bank and ICICI Bank.
In dollar terms, TCS' market valuation rose to $84 billion.
TCS, HDFC Bank, Infosys and Kotak Mahindra Bank were the other firms in the top-10 list which witnessed a rise in their market capitalisation. On the other hand, HUL, HDFC, Bharti Airtel, ITC and ICICI Bank finished with losses.
Five of the 10 most valued firms added Rs 62,508.32 crore to their total market valuation last week, with Reliance Industries emerging as the biggest gainer. Hindustan Unilever Limited, HDFC, State Bank of India and Bharti Airtel were the other gainers while Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank and Bajaj Finance took a hit in their market valuation. The market capitalisation (mcap) of Reliance Industries jumped Rs 23,582.73 crore to reach Rs 15,37,600.23 crore at close on Thursday, becoming the biggest gainer among the top-10 firms.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
Investors in Anil Ambani group firm Reliance Communications have reaped a windfall with the company adding over Rs 50,000 crore (Rs 500 billion) in its market cap since its listing on the bourses last year.
At a time when exchange-traded funds (ETFs) were unloading Jio Financial Services from their portfolios, some active fund managers were placing large bets on the demerged financial services arm of Reliance Industries Ltd (RIL), a report by Nuvama Alternative & Quantitative Research shows. Motilal Oswal Mutual Fund and Quant Mutual Fund were the top MF buyers of the stock in August. They bought around 60 million shares each, together investing around Rs 2,800 crore.
'The government is encouraging consumption through fiscal spending in a bid to push up economic growth in the face of a slowdown in corporate investment and exports.'
To be fair, one year is too short a period to judge the schemes' performance.
The Reliance Group and the Tata Group have emerged as first and the second largest wealth creators in the private sector for the financial year 2003-04 based on market capitalisation of group entities.
