Market Bizzz

But as you move down the curve from Nifty to midcap, midcap to small, small to micro, that worry increases, where the bulk of the gains are valuation-led and not so much supported by earnings in the near term. Clearly, that is a zone where valuation excesses are more prevalent in micro caps and small caps. But large caps do offer quite a bit of valu

“The first quarter of the fiscal was a challenging one for the company. The long drawn seven phase general elections, severe heat wave across the country and higher attrition in select geographies posed a challenge to the quality of the portfolio,” managing director Shalabh Saxena said.

Additionally the company has also announced that each American Depositary Share (ADS) will still represent 1 equity share. As a result, the number of ADSs held by each American Depositary Receipt holder will increase in proportion to the increase in equity shares.

Sebi’s order relates to actions by L&T asset management company, which was acquired by HSBC Group last year in May and was merged with its asset management company in October 2023.

The NSE Nifty rose 428.75 points, or 1.76%, to close at a record of 24,834.85. The index hit a lifetime high of 24,861.15 during the day. The BSE Sensex rose 1,293 points, or 1.62%, to end at 81,333 after hitting a high of 81,427.18. The index fell 10 points short of the all-time closing level of 81,343.

The net interest income – the difference between interest earned and paid – rose 11.1% to ₹5,408 crore. Net interest margin (NIM) for the June quarter came in at 4.25%.

Mayuresh Joshi from Marketsmith India shared insights on favored pharma stocks like Natco, Morepen, Cipla, and Dr Reddy’s, emphasizing strong performance and promising pipelines. Energy sector outlook for HPCL, IOCL, ONGC, and Selan Exploration was also positive, predicting stable trajectories and significant investments. Joshi also says that the market is now moving on post the budget and looking at earnings.

The market returns will revert to what the corporate earnings growth rate is and I do believe that corporate earnings long-term growth rate should be about 14% or so in India and that is what a good long-term investor in the market should get, says Rashesh Shah, Chairman, Edelweiss Group.

The fund house’s market share in total AUM fell marginally to 5.27% during the quarter from 5.76% in the previous year.