Mumbai: Domestic mutual funds reduced their exposure to many public sector stocks in the March quarter following a sharp rally in the pack over the past year. Of the 25 public sector undertakings (PSUs) that published their shareholding for the March quarter, 11 saw a decline in mutual fund holdings, while only three stocks saw … Read more
State-run NTPC, NHPC and NLC India will see their weights go up on the Nifty CPSE following a semi-annual rejig in the index, effective from Thursday, March 28. The adjustment will likely trigger passive cumulative inflows of $94 million according to estimates by Nuvama. A lion’s share will be contributed by NTPC ($71 million) followed … Read more
Mumbai: Indian stocks rose on Thursday, tracking the strength in global markets, as the US Federal Reserve’s policymakers reaffirmed that there could be three interest rate cuts this year fuelled optimism among investors. The Nifty closed above 22,000, considered a psychologically important level, while the beaten-down mid-cap, small-cap and PSU stocks rebounded the most in … Read more
Are good days for public sector stocks nearing an end? It may not be the case for the entire pack but some of the stocks not only saw a double-digit correction but also a reduction in mutual fund holdings. Mutual funds reduced exposure in 14 public sector stocks in February, of which, seven of them … Read more
Investors who followed a ‘stock tip’ given by none other than Prime Minister Narendra Modi on the floor of the Parliament six months ago are now laughing their way to the bank. Since Modi’s speech on August 10 telling investors to “daav laga dijiye” or bet on PSU stocks, at least 22 of them have … Read more
Siddhartha Khemka, Head-Retail Research, MOFSL, says “the quarterly results would be the next trigger for the market. In terms of overall valuations, we see that markets are comfortable, especially the large caps. The Nifty is trading at a one-year forward PE of 19-19.5, which is still at a discount to its last 10-year average of … Read more
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