Valuation of PSU stocks has become less attractive, says Akhil Kalluri of Franklin Templeton. The rally in small caps can be attributed to retail liquidity and the deployment of excess cash. Kalluri discusses the valuation risk in the broader market and the March quarter earnings. He also comments on the possibility of a re-rating if BJP comes back to power. Kalluri highlights power, defence, and capex as hot investment themes. He further mentions the future prospects of financial giants and suggests an ideal asset allocation strategy with a long holding period.
India’s stock benchmarks jumped over 1% on Monday, led by gains in bank shares after ICICI Bank’s better-than-expected fourth-quarter results. The market may be on course to scale records though the spike in the Volatility Index or VIX, a fear gauge, shows that traders see risks to equities at current levels. The outcome of the US Federal Reserve’s rate-setting meeting on Wednesday is expected to determine the direction of equities in the foreseeable future.
Markets took a breather after the recent surge and ended marginally higher on Wednesday. Shares of Bajaj Finance, Nestle, Tech Mahindra, IndusInd Bank, Axis Bank, HUL, Kotak Bank among others will be in focus due to various related developments or quarterly earnings. Read more.
The consumer commission in Mumbai has ordered Axis Bank and New India Assurance to pay an insurance claim of Rs 30 lakh with interest to a policeman who suffered permanent disabilities in an accident in 2017. The commission found that the claimant’s insurance claim was arbitrarily rejected and repudiated. The bank and insurance company were in agreement to provide insurance cover to police personnel as per the Memorandum of Understanding (MoU) between the bank and the Mumbai Police. The commission also directed the payment of compensation for mental agony and litigation costs.
Get the latest share prices of top companies in India, including Apollo Hospitals Enterprise, Nestle India, SBI Life Insurance Company, Cipla, and more. Stay informed about the stock market and make smart investment decisions. Read more to get detailed information about their share prices.
Equity benchmark indices declined in early trade on Tuesday after rallying in the past four days amid weak trends from global markets and foreign fund outflows. The BSE Sensex declined 297.97 points to 73,574.32, while the Nifty dipped 86.05 points to 22,319.55. Major laggards include HCL Technologies, Tata Consultancy Services, ICICI Bank, Infosys, Axis Bank, and Reliance Industries.
Max Financial Services has received approval from IRDAI for a capital infusion of Rs 1,612 crore by Axis Bank into its material subsidiary, Max Life Insurance. As part of the deal, Axis Bank will invest in Max Life Insurance by acquiring equity shares.
Samsung is offering discounts and cashback on its Galaxy A54 5G and Galaxy A34 5G smartphones. Consumers can now purchase the Galaxy A34 5G at an effective price of Rs 25999 and the Galaxy A54 5G at just Rs 33499. The article provides specifications and details of these smartphones, including the display, processor, camera setup, and battery.
Prime Minister Narendra Modi is working to strengthen cooperatives in rural areas, with a focus on sectors like agriculture and fisheries. Ayodhya railway junction has been renamed to Ayodhya Dham. President Vladimir Putin invites PM Modi to visit Russia next year. Congress reviews the readiness of state units for the upcoming Lok Sabha election. Amrit Bharat Express introduces higher fares for second and sleeper class travellers.
Sensex and Nifty erased early gains and closed in the red. Index heavyweights such as HDFC Bank, Reliance Industries, and Infosys dragged the indices. Gainers and losers in the stock market were also discussed, including Yes Bank and Jammu & Kashmir Bank. Global market trends, oil prices, and updates on the rupee were also provided.
