PSUS
6 Adani stocks, LIC, and 3 PSUs slip below 20 & 50 DMAs: What should investors do?
Despite 77% of Nifty 100 stocks trading above their 20-day DMAs and 63% above their 50-DMAs, 16 stocks, including six Adani Group stocks and several PSUs, have fallen below both moving averages. According to Ace Equity data, this indicates generally favorable trends for large-cap stocks.
Play the rally with newer sectors; metals, 2 more sectors the dark horse for next 12 months: Gautam Shah
Gautam Shah from Goldilocks Premium Research highlights the shift towards newer sectors like metals, NBFCs, and chemicals in the market. He discusses sector rotations, noting the promising performance of quality mid-caps and small-caps. Shah praises the market's resilience amid global economic concerns and outlines a positive outlook and study risk-reward to pick sectors.
PSUs' M-cap grows by 4% in 2 years, now comprises 15% of India's total market capitalisation
Public Sector Undertakings (PSUs) in India have seen their market capitalisation rise by 4% over 24 months, and now represent 15% of the market. Despite unchanged earnings metrics, their valuation multiples have expanded significantly. ROE is improving, and substantial capex suggests future growth.
PNGRB seeks common carrier status for PSUs' ATF pipelines
The Petroleum and Natural Gas Regulatory Board (PNGRB) aims to declare major oil companies' jet fuel pipelines to key airports as common carriers. This move could allow private sector players to utilize these pipelines, potentially lowering transport costs and creating a more competitive jet fuel market.
It will be frustrating for anybody waiting for a sharp fall in market: Raamdeo Agrawal
Raamdeo Agrawal, chairman of Motilal Oswal Financial Services, discussed the current unique market cycle driven by political stability and a strong economy. He predicted bullish trends with limited corrections, acknowledging the overvaluation in mid- and small-cap stocks. Agrawal also addressed the challenges in the banking sector, IT stocks' stability, and potential in new-age businesses.
EndureAir joins hands with 5 defence PSUs to establish advanced testing facilities under DIT Scheme
EndureAir has joined forces with five defence PSUs to create advanced testing facilities under the Defence Ministry's DIT Scheme. Located within the Uttar Pradesh Defence Industrial Corridor, these facilities are intended to push technological advancements in unmanned aerial systems. The initiative will promote indigenous defence production and aim for self-reliance in military equipment.
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Go Digit to be a great compounding story for next 10-15 years : Sumeet Nagar
We also try to engage with the companies and try to help them along the way in terms of building up their governance standards, the board structure, in terms of transparency to the market, communication to the market and this is a long-term journey.
Time to be a bit on the back foot and evaluate every stock on its merit: Sumeet Nagar
The PSUs have clearly outperformed over the last couple of years, but it is after almost a decade of underperforming. So, as a result, they probably got beaten down too much. They were very cheaply valued and some sort of bounce back or reversion to the mean was probably warranted and so that is what you saw playing out
Mining royalty case: Setback for mining operators as SC rules states can impose levies retrospectively
The Supreme Court has ruled that states can collect past dues on royalty for mineral-bearing land from the Centre and mining companies starting from April 1, 2005. This decision was announced on Wednesday when Chief Justice of India DY Chandrachud delivered the verdict.
Should PSUs be considered an essential part of portfolio? Vikas Khemani answers
Over the last ten years, Indian public sector enterprises have shown major improvements in governance and operation, raising their market value. PSU banks have enhanced their return on equity to 16-17%. Defense and gas sectors are performing well, though oil marketing units still face hurdles. This shift has generated significant wealth for shareholders.
CEO club with Rs 50 cr+ pay sees 2x addition
In FY24, the proportion of CEOs and managing directors at Nifty 50 companies earning over Rs 50 crore doubled from FY19, reaching 22%. This increase is notable among non-promoter CEOs, whose median pay surged by 19.6% to Rs 22.6 crore, compared to a 6.9% rise for promoter CEOs. Median CEO compensation has grown from Rs 13.1 crore in FY19 to Rs 22.6 crore in FY24.
PSUs not an asset class; the overvaluation could last longer: Venugopal Garre
Venugopal Garre of Bernstein remarked that PSU stock valuations were excessively high relative to long-term growth expectations. He advised that this might be a good time for government divestment but noted a lack of such signals. Garre further commented on the uncertain sustainability of economic recovery despite some positive trends in current indicators.
SC verdict on Aug 14 on effect of judgement on state's power to tax mineral rights
A nine-judge constitution bench headed by Chief Justice DY Chandrachud was told by the Centre that it opposed the demand of states for refund of royalty levied on mines and minerals since 1989, saying it will impact the citizens and the PSUs will have to empty their coffers by Rs 70,000 crore according to initial estimates.
HMT vs Karnataka: Kumaraswamy defies Forest Minister Khandre, rules out returning PSU’s land
Union Minister HD Kumaraswamy criticized Karnataka Forest Minister Eshwar Khandre for attempting to reclaim 599 acres of HMT land, arguing it was legally acquired by the PSU. Kumaraswamy warned against harassment and legal action, accusing Khandre of potentially seeking to reallocate the land to builders. The dispute has heightened tensions and concern.
Buy and hold not working now; it pays to be nimble, says Manish Gunwani. Here’s what he is betting on
Manish Gunwani from Bandhan AMC discussed market strategies, highlighting a cautious stance due to regulatory shifts. The firm has limited PSU investments, focusing instead on healthcare, internet, telecom, real estate, power, and capex sectors. Gunwani underscored the importance of a diverse and nimble approach in the current volatile market environment.
PSU stocks: Retail rebels rule as FIIs, MFs retreat in June quarter
During the June quarter, retail investors increased their holdings in PSU stocks while mutual funds and FIIs reduced theirs. Stocks like Bharat Electronics Ltd, HAL, and RITES saw higher retail ownership. Analysts noted potential overvaluation in some sectors but highlighted the overall reasonable valuation of PSUs, driven by strong earnings growth and government reforms.
2 top stock recommendations from Rahul Sharma
If there is a dip, look to be a buy-on-dip. The structure of the market is pretty much bullish and there are no real signs of exhaustion or any sort of fatigue that is setting in, especially in terms of the sectoral strength.
FM Nirmala Sitharaman clears air on the budget proposals that got everyone talking
In a detailed interview, the Finance minister discusses the moves made in Budget -- from politics to reforms and the broader economy.
Financialization a mega trend; it is here to stay: Ajay Bagga
What happened in the COVID period, there was a gamification. The trading became a video game. You got access through online brokerages and the cost of access with this zero brokerage without realising the STT, the GST in terms of IGST, the exchange charges, the government charges, the stamp duty, all those if you add in it was a hefty sum as well.
Should market be worried about frothiness in some PSU stocks? Hiren Ved answers
If you add 15,000 crores that has been given to Andhra plus another 26,000 crores that has been allocated to Bihar, which are also in turn for infrastructure projects. There is ultra mega power plant in AP. There are irrigation facilities to be set up in AP and there is allocation for roads for Bihar and therefore in many senses while it may seem that, oh, this is for two states, but if you add 15 and 26 that is another capex allocation that has happened.
Govt retains 14 pc rise in capital investment of Rs 67,000 cr by 8 power PSUs in FY25
The government has announced a significant increase in capital investments by eight state-owned power companies for the upcoming fiscal year. Various companies like Power Grid Corporation, NTPC Ltd, and NHPC Ltd are set to boost their investments compared to previous years.
It is a struggle to invest money in short-term now, says Madhu Kela; points to best way to regulate F&O market
The smartest way to regulate the F&O market is to increase the lot size so that the retail people cannot get in basically, says Madhu Kela. You do not want to kill the market. Already there is so much taxation that is unreal. There is STT, income tax, dividend distribution tax, buyback tax, long-term capital gains tax and short-term capital gains tax.
Leaders of past cycles hardly ever lead in the next cycle but financials’ spot in the sun will come: Hiren Ved
Hiren Ved of Alchemy Capital discusses sector rotation, skeptical about large-cap private banks' leadership in the bull market. He advises against market timing, suggests balanced portfolios, and highlights FII potential. Ved sees opportunities in pharma, consumption, chemicals, and defensive sectors, addressing historical performance, valuation concerns, consumer lending growth, cyclical sectors' appeal, and high-quality companies.
Union Budget 2024: Expectations in pursuit of national happiness
The seventh budget of Finance Minister Nirmala Sitharaman is expected to do a tightrope walk between consumption and investment. Although there may be a push towards consumption-led economic growth for immediate results, sustainable long-term growth requires prioritizing investment as it drives innovation, improves infrastructure, and creates enduring job opportunities, ensuring economic resilience.
Selection of PSUs for listing in the works to unlock value
National Seeds Corporation and Central Warehousing Corporation could be among the first set of candidates for listing, as per preliminary discussions, according to the people. Meanwhile, the proposed listing of ECGC, which has an 85% share in India's export credit insurance market, is being expedited, they said. There are 170 unlisted non-financial central public sector enterprises (CPSEs), according to the Department of Investment and Public Asset Management (DIPAM) data.
Petroleum Minister Hardeep Puri hails ONGC after share price skyrockets to all-time high
Oil and Natural Gas Corporation (ONGC) made history as its share price surged past Rs 323 with a 5.18 per cent intraday gain, boosting its market capitalisation to Rs 4.06 lakh crore. This remarkable performance underscores ONGC's financial strength and strategic direction, echoing a broader trend of positive gains in the oil and gas sector. The Indian government, under Prime Minister Narendra Modi's leadership, has implemented reforms to bolster the sector, driving growth and profitability for companies like ONGC.
Govt should continue their medium-term focus on infrastructure, public capex: Surendra Goyal
But overall, we think that they are in a fairly comfortable position and the medium-term focus on infrastructure, public capex, etc, that should continue.
Q1 result season begins: 30 companies may report over 100% growth in profit
Nifty may report 4% Q1 earnings growth driven by BFSI, auto, metals, healthcare, and real estate, with Trent and Zomato showing significant consumption sector growth. Pharmaceuticals Glenmark Pharma and Laurus Labs have high growth, private and PSU banks lower. Motilal Oswal and Kotak predict 30 companies may report over 100% profit growth.
Fund Manager Talk | 8 structural themes that remain relevant in a raging bull market
Presently, our economy is witnessing several structural themes that offer compelling long-term investment prospects. While the easiest gains may have been captured and valuations could be somewhat stretched, market still offers pockets of investment opportunities where quality companies can be found at reasonable valuations.
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