'As valuations of large-caps appeared to be out of whack, investors started lapping up quality mid-caps and small-caps, which were available at relatively comfortable valuations.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Premiumisation, improving demand aid realisation growth at most large firms
The combined dividend payout by early-bird companies -- those that have declared their results for FY21 -- is up 8.9 per cent, lower than the 21.9 per cent rise in in FY20 but ahead of the underlying growth in India Inc business last year. Combined net sales of these early birds were down 1.8 per cent last financial year while net profit was up 27.3 per cent in FY21. Some top companies that have stepped up dividend payout in FY21 include Hindustan Unilever, Indus Towers, Tata Steel, Ultratech Cement, Larsen & Toubro, Dabur, Asian Paints, and UPL. In contrast, banks have skipped dividends under an RBI diktat while companies such as Marico, TCS, Maruti Suzuki, and Godrej Consumer are paying lower dividends for FY21.
In the Sensex pack, Vedanta took the biggest hit (5.55 per cent), followed by Tata Motors, SBI, Yes Bank, Bharti Airtel and Infosys, which lost up to 4.50 per cent.
RCom has also tied-up with select credit card providers for its latest offering.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Despite the large economic impact of the Covid-19 pandemic, the markets have recovered sharply even though the performance among individual stocks has been quite polarised.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The total value of M&As involving Indian companies surged nearly 63 per cent to $7.8 billion in the first three months of 2016, primarily spurred by big-ticket divestment transactions.
Mukesh Ambani-controlled Reliance companies' market cap now exceeds $100 billion (as also Arcelor Mittal's). The new generation winners operate in a myriad sectors, including telecom, commodities such as steel and cement.
Making the things worse, those hitting their record low share prices included big names like Reliance Power, Cipla, Ranbaxy, Ambuja Cement, Hindalco, Indian Hotels, Jaiprakash Associates, Jet Airways, Suzlon Energy and Idea Cellular. Realty majors DLF Ltd, Unitech, Parsvnath, Sobha Developers, Omaxe and Puravankara also plunged to their all-time lows.
The Aditya Birla group is close to buying the Reddy family's 66.32 per cent stake in Apollo Sindhoori Capital Investments (ASCIL), marking a re-entry of the group into the broking business.
The Sensex zoomed past the 3,800-mark and closed with a gain of 65 points at 3,807.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
After opening lower at 5,168, the Sensex slipped a bit to touch a low of 5,158. However, fresh buying at these lower levels led the index spurt to a high of 5,191
The index, however, could not hold gains as persistent selling in banking, cement and realty stocks dragged the index into the negative zone. Heavy selling in the Reliance counter in late noon trades saw the index slide to a low of 13,405 - down 467 points from the day's high. The NSE Nifty shed 96 points to end at 4,041.
Within IIP, the capital goods sub-index has contracted for seven continuous months, suggesting investment demand continues to be weak.
A study of the top ten mutual funds' equity portfolios as on March 30 reveals that funds bought huge chunks of metal major SAIL, engineering stock KEC Infrastructures, while diluted their exposure to FMCG major ITC.
Mutual funds continued to buy into oil and gas, banking and finance, telecom, and media stocks in April
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Sensex opened marginally lower at 13,139, down 20 points.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
Forbes said Prime Minister Narendra Modi's "economic experiments" barely affected India's billionaires while none gained more than oil-and-gas tycoon Mukesh Ambani, who cemented his decade-long hold on the top slot by adding a staggering USD 15.3 billion (67 per cent) to his last year's wealth to become one of Asia's top five richest.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
The Nifty advanced 21 points to to close at 2,144. Reliance Energy vaulted 11.33% (Rs 67) to Rs 658. Reliance Industries zoomed 4.92% (Rs 30) to Rs 630.\n\n
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Sensex, after moving in a narrow-range throughout the trading session, ended 10 points lower at 3,612.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Sensex registered a healthy gain of 29 points to open at 5,955, and spurted to a high of 5,992 on all-round buying support. The index is firm and is currently up 59 points at 5,975.
