Sensex tanks 736 pts, Nifty slides below 22K
Benchmark Sensex tanked 736 points while Nifty fell below the 22,000 level on Tuesday following a sell-off in index majors TCS, Infosys and RIL and weak Asian trends as Japan's central bank hiked rates for the first time in 17 years. Photograph: Danish Siddiqui/Reuters The 30-share BSE Sensex tanked 736.37 points or 1.01 per cent to settle at more than a month's low of 72,012.05. As many as 23 Sensex shares declined while seven advanced. The index declined by 815.07 points or 1.12 per cent to ...Smallcap funds sit on over Rs 15,000 crore dry powder
Fund managers are keeping cash in hand amid strong inflows and elevated valuations in the small and midcap space. Illustration: Uttam Ghosh/Rediff.com Stress data shows that nearly half of the schemes in the smallcap space are holding cash of 5 per cent or more at the end of February 2024. By comparison, only 20 per cent of the midcap schemes had over 5 per cent cash in their portfolio during the same period. As of February 2024, smallcap funds had Rs 15,226 crore in cash. The amount is ...Bharti Airtel, State Bank of India, Zomato on Jefferies hotlist for 5 years
Jefferies has identified 11 stocks set to benefit from long-term macro trends like capital expenditures, government manufacturing initiatives, and financialisation. Photograph: Eduardo Munoz/Reuters The brokerage expects these equities to more than double by 2029. “The capex cycle theme drives several of our top picks (Ambuja, Axis, JSW Energy, L&T, Macrotech). Other themes to play include government manufacturing push (Amber), PSU reforms (SBI), penetration stories (Max ...After 17 years of toil, India is finally ready for tryst with semiconductors
The exclusive club that dominates the global semiconductor fab scenario is about to get a new member. Photograph: Kim Kyung-Hoon/Reuters Taiwan, South Korea, and China control nearly 70 per cent of the global capacity. SEMI, the global industry body for semiconductor and electronics design and manufacturing, projects all fabs collectively will churn out 30 million wafers a month this year. Soon there will be a new entrant into this cosey club. After 17 years of ...40-year-old fintech gurus need 60-year-olds to handhold them
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay. Illustration: Dominic Xavier/Rediff.com It's difficult to pinpoint who invented the car, but Karl Benz is most often identified as the inventor. He patented the three-wheeled motor car -- called “Motorwagen” -- in 1886. It was the first modern automobile. A century later, ...What to make of sharp variations in GDP numbers in election year
Questions will be raised over why those changes take place and whether non-economic factors are at play, says A K Bhattacharya. Illustration: Dominic Xavier/Rediff.com India's gross domestic product (GDP) numbers, released recently, surprised most analysts. The economy grew at 8.4 per cent in the third quarter (October-December) -- a six-quarter high -- and the second advance estimate (SAE) for 2023-24 placed GDP growth at 7.6 per cent, up sharply from the first advance estimate (FAE) of 7.3 ...In absence of black swans, markets may rise further
Since March 2020, when the Nifty50 plummeted to 7,511 following the announcement of a nationwide lockdown, the stock market has been on an upward trajectory. Illustration: Dominic Xavier/Rediff.com Over the next four years, the major market index has delivered a remarkable compounded annual growth rate (CAGR) of over 31.5 per cent. In the past year alone, the Nifty50 has gained by 27 per cent, hitting a succession of record highs. During this period, the benchmark largecap index has been ...New scheme for EVs may put global majors in fast lane
The new scheme, promoting manufacturing of electric vehicles (EVs) by global majors, will give a fillip to companies like Tesla and its upstart rival Vinfast, both of whom have lobbied for lower import duties from the Centre. Photograph: Hannah McKay/Reuters While Vinfast has already announced an investment of Rs 4,000 crore to set up an electric vehicle (EV) plant in Tamil Nadu, Tesla’s next move will be watched carefully. Four years ago, Musk announced that his company would come to ...Tata Sons' net debt burden at eight-year low as cash reserves swell
Tata Sons Private Limited, the holding company of the Tata group, witnessed a precipitous drop in its net debt to Rs 5,656 crore in the 10 months ended January this year, as its cash reserves burgeoned to Rs 9,516 crore during this period. Photograph: Danish Siddiqui/Reuters Eight years ago, in 2015-16, Tata Sons reported a net debt of Rs 5,132 crore; from March 2017 until March 2023, this figure was above the Rs 14,700 mark, peaking at Rs 27,437 crore at the end of March 2019, according to ...Top six smallcap MFs to take over 20 days to liquidate 50% portfolio
The country’s six largest smallcap schemes would require more than 20 days to liquidate half of their holdings, despite most of them maintaining high cash levels and having considerable exposure to more liquid largecap stocks, stress tests conducted by fund houses reveal. Illustration: Uttam Ghosh/Rediff.com For midcap funds, the time required to sell half of the assets of the top six schemes varies between seven and 34 days, according to disclosures made by asset management companies.Click to show more