India Inc’s strategy to build bigger cash reserves comes at a time when companies worldwide are grappling with economic uncertainties stemming from high interest rates, supply-chain realignments, tariff wars and geopolitical disruptions
Domestic brokerage JM Financial expects a strong rally in the BSE 500 index over the next one to six months, urging investors to buy on dips.
None of the companies saw their promoters pledging more than 75 percent of their holdings in the March quarter, similar to the previous two quarters.
Indian equity benchmarks turn cautious ahead of the FOMC meet outcome and saw some profit booking on December 12. Overall, the Nifty50 still remained rangebound with taking support at 20,850-20,800 levels and facing resistance at 21,000-21,100 levels, hence as long as the index holds this immediate support, the rangebound trade may continue and if it trades above 21,000 for few days, then another leg of rally can be possible, experts said. On December 12, the BSE Sensex fell 378 points to 69,551, while the Nifty50 declined 91 points to 20,906. The market breadth was in favour of bears, but the broader markets had a mixed trend. About 1,371 equity shares declined against 758 advancing shares on the NSE. The Nifty Midcap 100 index was up 0.4 percent and Smallcap 100 index gained 0.03 percent. This morning global cues are sanguine despite an uptick in US core inflation and ahead of the US Fed rate decision tonight. The Gift Nifty hints at a mildly higher start. Also among stocks in focus today, we put the spotlight on Axis Bank, Pharma Companies amid US FDA setback and PI Industries among others. Catch Nandita Khemka in conversation with Kush Bohra, Founder, kushbohra.com and Purvi Shah, DVP (Fundamental Research) – Pharma Analyst, Kotak Securities.
BSE 500 index represents over 90 percent of the total market capitalisation on BSE and covers all major industries. These stocks are usually traded daily and have ample liquidity. This slideshow is part of seres that will analyse Q2 performance of these companies.
Within the small-cap realm, relatively smaller market capitalisation companies have experienced higher average returns, along with a greater proportion of companies providing returns exceeding 100 percent
Profit-booking seems to be catching up with second line shares as well, though it is early to call a trend
India's Nifty 50 declined led by a slide in high-weightage financials as caution prevailed across global equities a day ahead of U.S. Federal Reserve Chair Jerome Powell's congressional testimony. Eight of the 13 major sectoral indexes declined with financials losing 0.5%. Broader indexes outperformed their larger peers with the midcaps little changed and smallcaps gaining 0.2%. Nandita Khemka and Yatin Mota discuss the newsmakers on their radar including Indigo, Bank of Baroda among others only on closing bell.
The fourth quarter performance of infrastructure companies didn’t disappoint investors but it didn’t give enough comfort as well. In the BSE 500 population, infrastructure firms reported a neat 66.6 percent year-on-year growth in net profit at the aggregate level.
The market rally was orchestrated by strong retail participation, better-than-expected earnings and positive outlooks shared by the management of companies.
Sustained FPI inflows, stimulus talks, signs of economic recovery and positive developments on the front of the COVID-19 vaccine continued supporting the market.Sustained FPI inflows, stimulus talks, signs of economic recovery and positive developments on the front of the COVID-19 vaccine continued supporting the market.
From the BSE 500 list, 216 companies have announced their September-quarter results so far. Along with index performance, we also analyse each sector's quarterly earnings.
The S&P BSE Sensex lost more than 30 percent so far in the year 2020 or nearly 13000 points, and about 33 percent from the record high of 42,273 registered on 20 January 2020.
The S&P BSE Sensex plunged 5.96 percent while the Nifty50 was down 6.21 percent in the month of February making it one of the worst monthly fall since September 2018, data showed.
Proxy advisory firm IiAS today also said that with Ind-AS (Indian Accounting Standards) requirements and mandatory auditor rotation catching up simultaneously with corporate India, meeting deadlines would become challenging.
Leading stock exchange BSE today said rebalancing of the indices -- Sensex, BSE 100, BSE 200 and BSE 500 -- will depend on six months reference period from December onwards.
BSE 500 was at an all-time high yesterday as the index jumped 1.5 percent to 12,036, and Chris Roberts of Asianomics expect to see an eventual doubling from the old ceiling which would see the index reach levels of 16,000-18,000.
The ratings agency added that it is all the more crucial for enhanced public spending to drive growth till corporate earnings recover fully. If the government decides to go for fiscal loosening in the Budget, the BSE 500 companies can achieve 12-14 percent pre-tax profits, it said in a statement.
Further, Asia Index said CCL International Ltd "will be dropped from the index effective December 2 on account of suspension due to consolidation, instead of December 21".
Drugmaker Lupin will replace private sector electricity producer Tata Power on the BSE benchmark index Sensex from tomorrow.
Only substantial improvements at the operational level would cause a meaningful improvement in their credit profile, given the high leverage levels and negligible cash generation ability of corporates in these sectors.
"The reason we are confident about India, not just looking at 2014 but for the next 5 years, is really because of what's happening in Indian companies over the last year or so, Jim Walker told CNBC-TV18.
India Ratings & Research (Ind-Ra) says that the number of stressed corporates in BSE 500 may creep up to 10.7 percent from 9.5 percent (currently) from the 25bp increase in repo rate.
There were lots of stocks on the S&P, BSE 500 which hit its 52 week high and some stocks on 52 week lows as well.