It's not only the Indian markets that command a valuation premium over their global peers; shares of subsidiaries of India-listed multinational companies (MNCs) also trade at rich valuations compared to their parent companies. An analysis of 12-month forward price-to-earnings (P/E) and price-to-book (P/B) multiples of domestically listed MNCs shows that most quotes have a premium ranging from 2.1x to 6x that of their parent. Similarly, P/B, in most cases, is significantly higher in the domestic market.
Indian cueist Pankaj Advani rallied to win the IBSF World Billiards Championship title in Doha on Tuesday for a staggering 26th time, beating compatriot Sourav Kothari in the final.
The 33-year-old, who steered his party to an impressive show in the Bihar assembly polls last year thereby emerging out of the shadow of his father Lalu Prasad, underscored that the opposition needed to bring in "dhaar" (edge) and "nayaapan" (novelty) in its electoral issues.
Armin Kremer took the FIA APRC title after a courageous drive into second place.
Sentiment in the market will also be guided by other major market movers like trend in the rupee, Brent crude and foreign capital flows.
The brief drive through Rockville Pike in Bethesda, a Maryland suburb of Washington DC, that separates the National Institute of Health and Walter Reed National Military Medical Center, brought cheers to his supporters who have been praying for the 74-year-old president's health ahead of the presidential election next month.
HCL Tech was the top gainer in the Sensex pack, rising over 4 per cent, followed by HDFC Bank, Infosys, NTPC, Nestle India, TCS and HUL. NSE Nifty surged 337.80 points to 14,845.10.
Axis Bank was the top gainer in the Sensex pack, rising around 3 per cent, followed by Sun Pharma, Reliance Industries, ONGC, HDFC, ICICI Bank, Kotak Bank and Bharti Airtel. On the other hand, Infosys, IndusInd Bank, HCL Tech, Nestle India and Tech Mahindra were among the laggards.
Tracking losses in the broader market that has seen the Nifty Smallcap 250 index and the Nifty Midcap 100 indices slip 9 per cent 6.1 per cent in the last three sessions, the frontline Nifty 50 index has remained resilient and registered a fall of 2.2 per cent during this period. Going ahead, can the nervousness in the mid- and small-cap universe spread to the large-cap peers? Most analysts do not think so. They expect a minor dip and a sharp recovery as investors flock to the large-caps in search of safety and value buying as the mid-and small-caps falter.
The Carrera 4S is a brilliant, every day, all-weather supercar that punches way above its weight and teaches you the finer nuances of what makes a good car great.
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
From Instagram to X, social media platforms, in the run-up to the polls have seen bitter poster wars and even bitter meme battles for political one-upmanship.
Half-centuries from captain Uday Saharan and Sachin Dhas steered India to their ninth Under-19 World Cup final.
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.
Stocks of Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL) have more headroom left despite the sharp run in the last few weeks, suggests a recent report from Morgan Stanley. Stocks of these oil refining and marketing companies (OMCs), it believes, are seeing multiples re-rate as investors reassess long-term growth prospects. "IOCL trades at one year forward P/BV of 1.2x, 19 per cent below +1 standard deviation (SD); BPCL trades at one year forward P/BV of 1.5x, near historical averages; HPCL trades at one year forward P/BV of 1.5x, near +1SD," Morgan Stanley said.
Maruti was the top gainer in the Sensex pack, rising around 6 per cent, followed by Tech Mahindra, Infosys, UltraTech Cement, PowerGrid and NTPC. On the other hand, IndusInd Bank, Bharti Airtel, SBI, ITC and HDFC were the laggards.
West Bengal Chief Minister Mamata Banerjee on Thursday termed the cancellation of over 25,000 school jobs as 'gross injustice' and alleged that it was a ploy by the Bharatiya Janata Party to stop these job losers from being deployed in poll duty.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
More than 20 national leaders will attend the meeting, TMC sources said. Most of them have already arrived in Kolkata.
'We like certain stocks from banking, insurance, retail, hospitals and capital goods.' 'Though some of these stocks may seem expensive, they will compound well over the long term, thus justifying their current multiples.'
Strong equity flows from domestic institutions, not foreign inflows, will be the real driver of the expected bull rally
Since the start of this financial year (FY24), the stock of Aurobindo Pharma has been one of the top pharma gainers, enhancing investor wealth by over 68 per cent, with a third of those gains coming in the last three months. The stock is riding on multiple triggers given its investments in the production-linked incentive or PLI scheme, biosimilars, injectables and vaccines, which should drive revenues and profits over the medium term. Better than expected performance after the June quarter results led to a revision of earnings estimates for FY24 and FY25.
He held two massive roadshows in Rajasthan and one in Madhya Pradesh and his entries in many of rally venues were marked by a drive through cheering supporters.
Shivam Dube smashed a quickfire half-century to power India to a thumping six-wicket victory against Afghanistan in the first T20 International.
Tata Steel was the top gainer in the Sensex pack, rising around 5 per cent, followed by Bajaj Finance, Bajaj Auto, HDFC, HCL Tech and Titan. On the other hand, Maruti, ONGC, IndusInd Bank and Tech Mahindra were among the laggards.
Foreign portfolio investors' (FPIs') net investments in the domestic debt market surged in December, marking a 77-month high, that is, since July 2017. According to market participants, this significant uptick in FPI inflows can be attributed to the post-domestic policy outcome and the US Federal Reserve's dovish stance at the December policy. FPI inflows into debt stood at Rs 18,393 crore in December against Rs 14,106 crore in November, according to data on the National Securities Depository Limited.
Jia Min was happy to execute her plan but acknowledged that her opponent was not at her best shape.
The sharp rally in the midcap stocks has made valuations expensive, and there is room for a correction, wrote Christopher Wood, global head of equity strategy at Jefferies in his latest note to investors, GREED & fear. The midcap index, Wood said, now trades at 24.1x 12-month forward earnings compared with 18.7x for the Nifty. Rising crude oil prices, he believes, are another worry for India, which imports nearly 80 per cent of its annual crude oil requirement.
A weak return from Prannoy was disposed off quickly as Ka Long lead 17-8. Prannoy tried to up the pace only to falter at the net.
Water projects firm Vishnu Prakash R Punglia, the 20th company to launch its IPO in the current year, saw its shares closing at a 47 per cent gain over its issue price on Tuesday. Such a huge one-day pop is considered rare; however, it has become the norm this year. The average listing-day gain for these 20 IPOs in 2023 is 34 per cent, and their average gain to date stands at 46 per cent.
The Manipur police said all personnel of the force from top to bottom are united and any attack on anyone and use of social media to target any officer or unit will be taken seriously and stringent action will be taken.
If you are a motorsport enthusiast and have a Mitsubishi Pajero, here's a chance to test the capabilities of your vehicle to the fullest and enjoy a good time out in the open at the same time. HM-Mitsubishi Motors in association with Sportscraft is organizing 'Heart in Mouth', an off-road driving rally around Belapur in Navi Mumbai on September 6.
'As China's reopening euphoria fizzled out on the back of some disappointing economic data, we saw inflows coming back to India with full force in the past 3-4 months.'
Taking potshots at the Bharatiya Janata Party, some opposition leaders also wondered if Goel resigned to contest the Lok Sabha polls on its ticket like former Calcutta high court judge Abhijit Gangopadhyay.
After a sharp outperformance in the mid-and small-cap segments in the first half of calendar year 2023 (H1-CY23), analysts are now turning cautious on these two market segments and suggest investors stay selective and look for valuation comfort and earnings visibility before investing. The S&P BSE Midcap index has surged 13.7 per cent in H1-CY23, and the S&P BSE Small-cap index gained 12.7 per cent during this period, data shows. The S&P BSE Sensex, in comparison, has moved up 6.4 per cent.
On the Sensex chart, HCL Tech, HDFC, Tech Mahindra, TCS, RIL, Sun Pharma and SBI were the major gainers, rising as much as 4.3 per cent. NSE Nifty gained 52.45 points to end at 18,055.75.
Eleven companies have launched their initial public offerings (IPOs) in December 2023, making this month the second-best December for public offerings since 1996. Collectively, they are raising Rs 8,182.7 crore this month. In December 2021, 11 companies raised Rs 9,534 crore. However, excluding December 2021, this month marks the best December for IPOs since 1996.
Former Formula One driver Robert Kubica will drive a Citroen in the European and world rally championships this year as he continues his comeback from a near-fatal rally accident.
Six-time national rally champion Naren Kumar will debut for an Indian team, 'Team Sidvin India', in the 2008 FIA World Rally Championship, in the Production Class in June, in Greece.
Farmer leaders on Sunday appealed to those participating in the Republic Day tractor march to carry enough ration for 24 hours and ensure that the rally remains peaceful.
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