Market Bizzz

India’s megacap stocks are making a comeback, with their share of total market capitalization increasing to 21%. Nifty50’s share is also rising, reflecting this trend. Experts believe this is a natural market cycle and could continue. Emerging sectors like tech and fintech are gaining prominence, while traditional sectors experience slower growth.

ICICI Securities has raised its rating on GlaxoSmithKline Pharmaceuticals to Add from Hold with a new target price of Rs 2250. GSK Pharma’s earnings are expected to see a CAGR of 15.3% over FY24-27. The company has an asset-light and cash-rich balance sheet, which could improve its return on equity and return on capital employed.

Axis Securities recommends buying shares of Genus Power Infrastructures with a revised target price of Rs 380. Genus Power reported a total income of Rs 617.06 crore for the quarter ended December 2024, showing significant growth. The company is expanding its capacity and expects to maintain a strong financial performance in the coming years.

Zomato’s CEO Deepinder Goyal has introduced Nugget, an AI-supported customer support platform for its food delivery, Blinkit, and Hyperpure segments. Developed over three years, Nugget manages over 15 million interactions monthly and is open to global businesses. Zomato plans to rebrand as Eternal Ltd, consolidating its four main businesses under this new name.

Paytm has partnered with SBI Mutual Fund to launch the JanNivesh ₹250 SIP initiative. This scheme aims to promote financial inclusion by enabling small, regular investments. It supports the Government of India’s vision for economic growth and anticipates growing the mutual funds market significantly.

M&M shares might dip momentarily, but their medium-term outlook remains positive with robust performance in the auto sector. Pharma, particularly generics, biosimilars, and CDMO, is expected to do well. Consumer stocks poised for growth, especially discretionary spending, will benefit from reduced income tax and monsoons, bolstering demand in Q2 onwards.

Glenmark Pharmaceuticals reported a net profit of Rs 348 crore for Q3FY25, a significant turnaround from a Rs 351 crore loss in the previous year. Revenue increased by 35% YoY to Rs 3,388 crore. Strong performance in the India and Europe markets contributed to the growth.

Shibani Sircar Kurian of Kotak Mahindra Asset Management highlights that large private and select public sector banks, the healthcare sector, technology sector, and discretionary consumption brands focused on rural and middle-class segments show promising growth. Financial stability, earnings growth in healthcare, and technology advancements are key positive indicators amidst market volatility favoring large-cap investments.

Here’s a look at the top 10 worst-performing stocks from the BSE Smallcap index during the week