The IPL's overall valuation fell by 8 per cent to Rs 76,100 crore in 2025.
Analysts are increasingly optimistic about India's capital markets, with HDFC AMC, CAMS, and KFin Technologies identified as top investment picks. This optimism stems from a structural shift in household savings towards financial instruments and an expected multi-year earnings expansion for market infrastructure providers and asset management companies.
Reliance Industries Limited (RIL) faced a challenging fourth quarter, with its energy business experiencing significant headwinds, leading to overall muted results and prompting analysts to adjust their outlook, even as consumer segments like Jio and retail demonstrated robust growth.
ICICI Securities expects Jio Platforms' ensuing IPO to fetch "premium valuations", as was the case in the high-profile equity raise of FY21, and has pegged the company's equity value at $148 billion by September 2027.
With duties at 15%, GST at 3%, and making charges running as high as 20% -- the gap between a smart purchase and a careless one can easily be Rs 30,000 to Rs 50,000 on every Rs 1 lakh invested. And most of that gap is entirely avoidable. Ramalingam Kalirajan explains the math.
The market valuation of ITC slumped Rs 18,863 cr to Rs 2,68,725 cr, taking the steepest hit among the top 10 firms.
Since August 9, RIL shares have gone up by over 11 per cent.
Foreign portfolio investors withdrew over Rs 22,530 crore ($2.5 billion) from Indian equities so far this month amid rising US bond yields and a stronger dollar, continuing their selling streak from last year. This came following an outflow of Rs 1.66 lakh crore ($18.9 billion) recorded in 2025, triggered by volatile currency movements, global trade tensions and concerns over potential US tariffs and stretched market valuations.
'Given that India underperformed emerging markets by 28 per cent in 2025, the worst performance in over 30 years, the timing of the sharp STT hike could have been better.'
Indian equities on Dalal Street saw volatility as global market trends and fresh tariff concerns linked to Donald Trump impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for Feb 24, 2026.
'The bigger unknown remains global geopolitics, which is inherently unpredictable, including developments in our neighbourhood.' 'Another concern is the increasing tilt of government finances towards welfare subsidies, especially at the state level.' 'This could constrain capital expenditure, which is critical for long-term growth.'
Domestic institutional investors, on the other hand, made a net investment of Rs 1.13 trillion during this period.
Global brokerage Bernstein has issued a cautionary note, stating that India risks 'under-delivering on its potential' unless it addresses key policy bottlenecks and structural risks, including employment challenges from AI, limited manufacturing gains, and rising welfare spending.
'The danger is that when the music stops, the fall will be sudden, faster, and deeper than anyone expects,' warns Debashis Basu.
India's privatisation push, once projected as a cornerstone of economic reform, has suffered another setback, with the Centre set to call off the IDBI Bank stake sale, highlighting the political and structural constraints shaping the country's disinvestment policy, experts say.
Global risks include a potential delay in the US-India trade agreement, the possibility of a sharp correction in US equity markets, and renewed geopolitical tensions.
Despite recent share price dips, Bharti Airtel is strategically positioned for growth, driven by investments in data centres via Nxtra, a potential tariff hike, and strong performance in Africa, alongside efforts to deleverage and expand its subscriber base in underpenetrated rural markets.
'The next phase of India's IPO cycle will be defined by quality, pricing discipline and investor selectivity.'
Foreign Portfolio Investors (FPIs) remained in a selling mode in January, withdrawing nearly Rs 36,000 crore (about $3.97 billion) as global uncertainties persisted. Meanwhile, a higher securities transaction tax (STT) proposed in the Union Budget may weigh on overseas investor participation in the near future.
Foreign portfolio investors have started 2026 on a cautious note, extending their selling streak from last year by withdrawing Rs 7,608 crore ($846 million) from Indian equities in the first two trading sessions of January. The withdrawal of funds followed the largest outflow of Rs 1.66 lakh crore ($18.9 billion) recorded in 2025, triggered by volatile currency movements, global trade tensions and concerns over potential US tariffs, and stretched market valuations.
Only 2.5 per cent of the equity in Jio Platforms will be offloaded through the OFS route -- meant for secondary share sale.
TCS and SBI emerged as the biggest gainers
India's market landscape is undergoing significant shifts, with bank-backed brokerages potentially regaining dominance over discount platforms due to regulatory changes and increased taxes, while the IPO pipeline faces a slowdown amid heightened global volatility.
There are vexing questions around the disconnect between Nifty returns and portfolio returns, between economic growth and earnings growth, and finally, between earnings growth and market returns, points out Debashis Basu.
10 stocks from the Nifty 200 index that offer good growth potential and scope to deliver decent returns from current levels, based on brokerage estimates.
'The first time India has seen two consecutive blockbuster IPO years.'
TCS emerged as the biggest gainer among the top-10 firms
The National Stock Exchange (NSE) will launch Dated Brent Crude Oil (Platts) futures on April 13, offering a new hedging tool for market participants.
Foreign portfolio investors (FPIs) withdrew a substantial amount from Indian equities in the first half of March, driven by geopolitical tensions, rupee depreciation, and concerns about crude oil prices.
TCS took the steepest hit among the top-10 firms as its m-cap plunged Rs 17,334 cr
Retail investors' equity portfolios have significantly underperformed benchmark indices over the past 16 to 18 months.
Indian hotel companies are experiencing a sharp correction in share prices due to the Iran war and broader geopolitical tensions, leading analysts to cut operating profit expectations and valuations, despite structurally positive medium-term prospects.
Info Edge (India) shares fell 2.9 per cent after the company reported muted growth in recruitment billings for Q4 FY26, leading brokerages to expect impacted operating performance and potential margin contraction.
TCS, HDFC Bank, Hindustan Unilever Limited (HUL), HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and SBI closed the week with losses.
IT major TCS worst hit; it's m-cap slumped by Rs 11,811.13 cr to Rs 4,92,042.26 cr
Fixed deposits from nationalised banks delivered higher returns than equities, outperforming both inflation and stock market benchmarks.
TransUnion Cibil CEO Bhavesh Jain highlights the improved retail portfolio quality in January but stresses the need for lenders to continuously engage with borrowers on credit usage and repayment, similar to the approach taken during the Covid-19 pandemic, as the impact of the Iran war on credit quality is still being assessed.
'Except for extremely conservative investors, others can consider allocating 10 to 20 per cent of their portfolio to small caps.'
TCS, HDFC Bank, Infosys and ONGC saw a squeeze in their market capitalisation in holiday-shortened last week
Infosys shares experienced a significant drop, hitting a 52-week low, after the company announced its Q4FY26 results and provided a modest revenue growth guidance of 1.5-3.5 per cent in constant currency for FY27, falling below market expectations and raising concerns about AI-led deflation and margin pressures.
