Tanla Platforms announces Rs 175 crore buyback at Rs 875/share, offering 33% premium
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Hans India
13 minutes ago
- Hans India
Indian equities outperform global markets in May: Report
Mumbai: The Indian stock markets continued their upward journey in May, supported by a strong economic backdrop and broad-based buying across sectors, a new report said on Tuesday. The Indian equities outperformed several global peers, particularly in the mid- and small-cap segments, driven by solid macro fundamentals and improving investor sentiment, according to PL Asset Management's latest report. Siddharth Vora, Head of Quant Investment Strategies at PL Asset Management, said India's solid economic fundamentals and improved global sentiment offer a positive environment for investors. 'India's resilient macroeconomic landscape, coupled with improving global sentiment, presents a constructive backdrop for equity investors,' Vora added. While the Nifty rose 1.7 per cent to close near the 24,800 mark, mid- and small-cap indices recorded sharper gains. The Nifty Midcap 150 jumped 6.5 per cent and the Smallcap 250 surged by an impressive 9.5 per cent. This strong performance was backed by cyclical sectors like defence, metals and public sector banks, as well as increased retail investor participation. The report noted that India's macro indicators remained healthy, with steady tax collections, easing inflation, robust Purchasing Managers' Index (PMI) data, and rising foreign exchange reserves. These factors helped build confidence among both domestic and foreign investors. The broader market also showed encouraging signs of recovery. The Nifty 500 rose 3.5 per cent, while the Nifty 500 Equal Weight Index outperformed significantly with an 8.5 per cent jump. This suggests that gains were more evenly spread across stocks, rather than being limited to a few large players. Valuations have risen with this rally. The Nifty's price-to-earnings (PE) ratio climbed to 22.3 times, while the price-to-book (PB) ratio stood at 3.6 times. Though mid- and small-cap valuations remain above their five-year averages, PL noted they are still within reasonable one-year bands -- indicating normalisation rather than overheating. In terms of investment styles, quality, momentum, and high-beta stocks were the top performers in May. The Nifty 500 Equal Weight Index gained 8.5 per cent, outperforming the market-cap weighted index. High-beta and momentum strategies rose 8 per cent and 5 per cent respectively, supported by sectoral rotation and improving sentiment. Quality stocks also saw strong interest, gaining 8.5 per cent on the back of good earnings and safe-haven appeal, the report stated.
Business Standard
an hour ago
- Business Standard
Gland Pharma Ltd gains for third consecutive session
Gland Pharma Ltd is quoting at Rs 1793.5, up 1.28% on the day as on 12:49 IST on the NSE. The stock is down 2.51% in last one year as compared to a 5.44% spurt in NIFTY and a 9.39% spurt in the Nifty Pharma index. Gland Pharma Ltd is up for a third straight session in a row. The stock is quoting at Rs 1793.5, up 1.28% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.43% on the day, quoting at 24840.25. The Sensex is at 81449.59, down 0.42%. Gland Pharma Ltd has risen around 20.86% in last one month. Meanwhile, Nifty Pharma index of which Gland Pharma Ltd is a constituent, has risen around 0.24% in last one month and is currently quoting at 22039.45, down 1.59% on the day. The volume in the stock stood at 2.97 lakh shares today, compared to the daily average of 1.95 lakh shares in last one month. The PE of the stock is 26.75 based on TTM earnings ending March 25.
Mint
an hour ago
- Mint
Reliance share price jumps 17% YTD: Can India's most valuable stock deliver more gains or is it time to book profits?
Reliance Industries' share price has posted healthy gains so far this year, supported by comfortable valuations, strong growth prospects, and investors' preference for quality large-cap stocks amid market volatility. Reliance is India's largest stock with a market capitalisation of nearly ₹ 19.5 lakh crore. India's most valuable stock has gained over 17 per cent year-to-date (YTD) against a 4 per cent gain in equity benchmark Sensex. On Tuesday, June 17, the heavyweight stock dropped nearly 1 per cent in intraday trade. Meanwhile, on a monthly scale, Reliance share price has been on a winning streak since March this year, even though it hit a 52-week low of ₹ 1,115.55 on April 7. Reliance shares hit their 52-week highs of ₹ 1,608.95 on July 8 last year. (This is a developing story. Please check back for fresh updates.)
