The 100-stock largecap basket of Mutual funds (MFs) has seen a major reshuffle in the latest semi-annual reclassification with seven midcap stocks and four new listings earning the largecap tag. According to a report from Nuvama Alternative & Quantitative Research, the midcap stocks that have been upgraded include CG Power, Rail Vikas Nigam, ICICI Prudential Life Insurance, Polycab India, Indus Towers, Cummins India, and Info Edge.
The newly inaugurated Pamban Bridge in Rameshwaram, Tamil Nadu, is designed to withstand cyclones of greater intensity than the 1964 disaster that significantly damaged the old bridge. The new bridge features a vertical lift spanner and is built to withstand wind speeds of 230 kmph and considerable seismic loading, according to a senior official from the Rail Vikas Nigam Limited (RVNL). The bridge's construction incorporated several safety protocols, including a seated lift spanner and girders positioned well above sea level, ensuring minimal risk from high tides and cyclones.
The government is looking to give Bharat Global Ports a certain amount of domestic exposure after it set up the state-owned consortium to increase India's global maritime heft, officials aware of the development said. The intended domestic exposure is meant to give the consortium experience and build its credentials for international projects.
The market capitalisation (mcap) cutoff to qualify for mutual funds' (MFs') largecap universe is likely to go up for the fifth consecutive time to touch the Rs 1 trillion mark for the first time. A fresh list of largecap, midcap, and smallcap stocks is set to be released by the Association of Mutual Funds in India (Amfi) in the first week of January.
The new Vande Bharat Express train is specially designed to operate seamlessly in Jammu & Kashmir's challenging winter conditions for the upcoming Katra-Srinagar rail route.
Domestic institutional investors (DIIs) have infused a record Rs 4.6 trillion into Indian equities over the course of Samvat 2080, marking the highest net annual investment in any Samvat to date. This robust domestic inflow has effectively counterbalanced the comparatively subdued investments from foreign portfolio investors (FPIs), who contributed a net Rs 90,956 crore within the same timeframe. Against this backdrop, the Nifty 50 and BSE Sensex indices are on track to achieve their best performance in three Samvat years, despite recent market corrections.
The Indian equity markets will soon account for over a fifth of a key emerging market (EM) benchmark tracked by funds with assets exceeding $500 billion. This development is expected to funnel as much as $3 billion into the domestic markets. Following the latest review undertaken by global index provider MSCI, India's weighting in the MSCI EM index will surpass 20 per cent for the first time, narrowing its gap with the current top-weighted China to fewer than 400 basis points.
Notwithstanding the recent sharp decline in the stocks of public sector companies, analysts at Jefferies remain bullish on this segment. State Bank of India, Coal India, and NTPC are their top picks in this space, they said in a recent note. The public sector undertaking (PSU) or state-owned enterprise (SOE) index, with a 70-percentage-point outperformance versus the National Stock Exchange Nifty50 over the past 12 months, comes after a decade of underperformance before 2020.
India's iconic Vande Bharat train project may finally find a solution to its two Russian-related issues.
He further said that the "focus is on horizontal drilling" as rock formation has created challenges for vertical drilling.
Rescue work at the collapsed Silkyara tunnel in Uttarakhand was virtually on hold Sunday as the agencies involved in the effort set themselves up for the next stage -- adopting multiple approaches to reach the 41 men trapped inside for a week.
The 41 workers trapped in Uttarakhand's Silkyara tunnel for the last 11 days are likely to be rescued in the next few hours or by tomorrow, National Disaster Management Authority (NDMA) member Lt Gen (retd) Syed Ata Hasnain said on Thursday evening.
As many as 267 of 453 companies from the BSE500 index are trading above their consensus price targets, according to the data compiled by Bloomberg. Not all companies in the BSE500 index are tracked by analysts.
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 dream-run in railway stocks may soon run out of steam, caution analysts. The rally, which has lasted nearly a year, may meet time-wise correction post the Union Budget announcements as investors begin scalping profits. "There is going to be a build-up in expectations for the sector from the Union Budget, which is still two-odd months away.
Ending the line at Pipalkoti will mean the army will have to cover a longer distance to the China border by road than it would have needed to had the rail link gone up to Joshimath.
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The estimated market borrowing by these two companies during current fiscal were pegged at Rs 13,800 crore (Rs 138 billion) from markets, as per the interim Railway Budget for 2014-15 tabled in February.
In the current fiscal, as per the revised estimate, these two companies raised Rs 14,942 crore (Rs 149.42 billion) from markets.
In line with Prime Minister Narendra Modi's vision to introduce bullet trains in the country, a team of Railway officials will visit Beijing on November 24 to take forward the Delhi-Chennai high-speed corridor project, the longest in India.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.
India Inc very keen to do business in Gujarat.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The training was expected to begin soon.
It will also provide support to the government for finalising the financial and implementation models.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Railways is expecting investment through various partnerships.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The proposal, in preliminary stages, is likely to be finalised within a couple of months.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Half a dozen companies looking to tap the market as the Indian rupee stabilises and oil prices cool down.
IRCTC used to charge Rs 40 per ticket for bookings in AC classes, Rs 20 per ticket in sleeper class
Pawan Hans, Dredging Corp on list to meet target of Rs 800 bn for 2018-19
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Many of the PPPs have not evinced interest, Prabhu said.
Rail ministry pinning hopes on foreign partner and private capital
In a significant development, Indian Railways on Thursday joined hands with China to increase speed in its existing rail network, modernise stations and enhance mutual cooperation in the sector in the country.
An eyewitness said some people in a minibus and private cars were trapped.
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