The state with the most people has displaced the state with the largest economy in terms of investor additions. Uttar Pradesh (UP) added 126,000 new investors in April, reveals National Stock Exchange (NSE) disclosures. This is higher than Maharashtra’s 118,000. Maharashtra, which is home to India’s financial capital of Mumbai, has traditionally been the biggest source of investors.
Posts tagged Rediff
BSE Smallcap index hits record high; more upside seen (15-06-2023)
The S and P BSE Smallcap index hit a record high 31,396.64, gaining nearly 1 per cent on the BSE in intra-day trade on June 7 after a strong rally in railway, auto and hospitals stocks. In the process, the index surpassed its previous high of 31,304.44, touched on January 18, 2022. In the past one month, the S and P BSE Smallcap index has outperformed the market surging by 6.6 per cent, as compared to 5.9 per cent rise in the S and P BSE Midcap index and 1.9 per cent gain in the S and P BSE Sensex.
‘If BJP Is Not Re-Elected, Foreign Investors May Sell’ (15-06-2023)
‘The biggest risk to the Indian markets from a 12-18-month view is that the current government does not get re-elected, or loses in a way that is not represented at all in the next central government.’
Half of top-priced stocks have outperformed indices (14-06-2023)
Half of India’s top-priced stocks have outperformed the benchmark indices this year. On a year-to-date basis (YTD), the Sensex has gained 3.8 per cent and the Nifty50 3.4 per cent. The stocks which have outperformed the indices include 3M India, Nestle India, MRF, Shree Cement and Bosch while those who have underperformed the benchmarks include Page Industries (-10.4 per cent), Procter and Gamble (-4 per cent), Honeywell Automation (-0.9) and Lakshmi Machine Works, which gained 1.3 per cent.
Sensex, Nifty rise on gains in metal, commodity stocks (14-06-2023)
Tata Steel was the biggest gainer in the Sensex chart, rising 2.39 per cent, followed by Tata Motors, Power Grid, Reliance Industries, UltraTech Cement, NTPC, Nestle, HUL, Mahindra and Mahindra, Wipro, Kotak Mahindra Bank and Asian Paints. In contrast, Bajaj Finance, IndusInd Bank, Axis Bank, Bharti Airtel, Bajaj Finserv, ICICI Bank, Infosys and Titan were among the laggards.
Wholesale price-based inflation hits 3-year low in May (14-06-2023)
Wholesale price-based inflation rate fell to a 3-year low of (-) 3.48 per cent in May on easing prices of food, fuel and manufactured items, strengthening the case for continuing with the pause in rate hike in the coming months of the current fiscal. This is the second straight month when WPI has been in the negative zone mainly on account of a higher base and falling prices of fuel and manufactured goods. Food prices also eased during May. In May, 2022 WPI inflation was at 16.63 per cent. Last month, it was (-) 0.92 per cent.
War Over Amul’s Plans For South India (14-06-2023)
‘As long as Amul was coming in with products it was not a problem because it was something value added and with a shelf life.’ ‘When it gets into the local market by procuring locally, it cuts into the market-share of local cooperatives.’
Better chip supply fuels PV production by 16%: Siam (14-06-2023)
Amid better semiconductor chip supplies, the Indian automotive industry posted an 8 percent growth in production of vehicles across categories for the month of May, with three-wheelers (20 per cent) and passenger vehicles (16 per cent) leading the pack. Exports, however, dipped 21 per cent at an industry level. The industry also recorded its highest-ever May wholesales of domestic passenger vehicles (334,802 units), riding on high demand for sport utility vehicles (SUVs) and better supplies of semiconductor chips.
Firms let IPO nods lapse on pricing mismatch (14-06-2023)
The initial public offering (IPO) market has seen some momentum of late with robust responses to recent issues. However, only some have been able to ride the wave. So far in 2023, 23 companies have let their approval granted by the markets regulator – the Securities and Exchange Board of India (Sebi) – lapse.
Equities overvalued, investors must tame expectations (14-06-2023)
India’s largest asset manager SBI Funds Management on Tuesday said they are negative on equities from a shorter-term perspective as valuations have risen above the comfort zone. “We are not positive on equities. We think valuations are expensive. “The market has gone up a lot more than the earnings have grown,” said R Srinivasan, Chief Investment Officer (CIO) – Equity at SBI Mutual Fund, at the launch of asset management companies’ (AMC) yearly report on the market outlook.