The bull rally in equities in the last quarter saw atleast 20 smallcap stocks turning multibaggers in just three months. But what’s interesting to note is that, some of them sustained the rally despite selling by both mutual funds and foreign investors. An analysis of the change in the shareholding of FIIs and MFs in the December quarter filtered out four such smallcap stocks that more.
Open FlipStating that the Modi government's commitment to cut fiscal deficit to 4.5% of GDP by FY26 limits the total expenditure growth to about 8% YoY, global investment banking firm Jefferies on Thursday said a potential slowdown in capex in the interim Budget can disappoint investors. The central government capex has tripled over the last five years. FY25E growth could be limited to 7-8%, as fiscal.
Open FlipAce investor Dolly Khanna trimmed stakes in multibagger Chennai Petroleum Corporation in the December quarter, whereas she increased her holdings in smallcaps KCP Sugar & Industries and Mangalore Chemicals during the three months.Khanna reduced her share in Chennai Petroleum by 30 bps in Q3 to 1.32% from 1.62%. Shares of Chennai Petroleum Corporation have yielded returns of 273% over 1 year.
Open FlipThree in five (59 percent) of companies in India are undergoing a board refresh or hiring a new director in the next 12-18 months, revealed a report by executive search firm Heidrick & Struggles. About three-quarters (74 percent) cite the retirement of a director as the reason they are undergoing a refresh, and one in two (48 percent) aim to infuse new skill sets into their boards.
Open FlipMoneycontrol Policy Next summit Live: Delve into the policy measures needed to realize the country's ambition of a '$10 trillion economy'. Esteemed voices from various sectors will share their perspectives on the matter.
Open FlipBy Subash Gangadharan Markets correct sharply Nifty has broken the recent highs of 21764 and reversed the recent short-term uptrend. Crucial supports are now at 21448. A close below these levels could trigger a bigger fall that could take the Nifty towards the 21000 levels, where we have the 50-day SMA. Any pullback rallies could find resistance at 21851.
Open FlipGMR Group and IndiGo Airlines on Thursday announced a strategic collaboration forming a digital consortium aimed at reshaping the landscape of the Indian aviation industry. A press release from GMR said the partnership brings together the diverse strengths of GMR's infrastructure expertise and IndiGo Airlines' innovative approach to air travel. The consortium will focus on deploying technology.
Open FlipITC is a great growth story and is reasonably valued, GQG Partners CIO Rajiv Jain has said after his investment firm raised stake in the conglomerate in the December quarter after having owned the stock for two years. At the current level of 23x earnings, ITC's valuation is “incredibly attractive” and the stock should see lower double-digit earnings as well, Jain said in an interview with CNBC.
Open FlipICICI Bank, the country's second largest private lender, is likely to report a 20 percent year-on-year (YoY) growth in standalone net profit at Rs 9,946 crore for the December quarter of the current financial year. According to a poll of brokerages, net interest income is set to rise 12 percent from the year-ago period to Rs 18,431 crore when the private lender reports its numbers on January 20.
Open FlipAnalysts recommended that long-term investors consider capitalising on the HDFC Bank stock’s steep decline, and use this dip as a buying opportunity for the long term due to attractive valuation, recovery in lending portfolio mix, and merger gains. However, they warned that the lender's shares could potentially extend their two-day drop of 11 percent. HDFC Bank shares tumbled.
Open FlipPolycab India on January 18 reported a 15.3 percent jump in net profit for the December quarter to Rs 416.51 crore against Rs 361.69 crore a year ago. Net sales for the quarter stood at Rs 4,340.47 crore, up 16.8 percent from a year ago, the cables and wires maker said in an exchange filing. Total cost jumped 19 percent to Rs 3,865.06 crore. Wire and cable revenue jumped to Rs 3,900 crore.
Open FlipIt will not be an understatement to say the Indian economy's performance in 2023-24 has been a positive surprise. After clocking a growth rate of 7.2 percent in 2022-23, the world's fastest growing large economy was expected to slow down this year, with even the government and the Reserve Bank of India's (RBI) start-of-the-year forecasts of 6.5 percent seen as rather optimistic.
Open FlipThe Reserve Bank of India (RBI) has a dual mandate. While easing inflation makes a case for lower interest rates, robust growth momentum provides room to the central bank's Monetary Policy Committee (MPC) to stay vigilant and err on the side of caution. After all, headline retail inflation has been above the medium-term target of 4 percent for more than four years now.
Open FlipBears dominated Dalal Street on January 18 as benchmark indices Sensex and Nifty fell for the third straight session, dragged by banking, energy and IT stocks. The Sensex closed 314 points or 0.44 percent at 71,187, and the Nifty fell 92.80 points or 0.43 percent at 21,479. About 1,483 shares advanced, 1,734 shares declined, and 71 shares unchanged. Broader markets fell ended flat.
Open FlipThe Cabinet Committee on Economic Affairs on Thursday approved equity investments of Rs 5,607 crore by state-owned South Eastern Coalfields and Mahanadi Coalfields to set up two thermal power projects with total generation capacities of 2,260 MW. The decision was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Thursday.
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