Grasim Q1 profit jumps 32% YoY to Rs 1,419 crore on chemicals, cement boost
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Hans India
24 minutes ago
- Hans India
Markets stage rebound after 6th week decline
Mumbai: Markets stage rebound after 6th week declineBenchmarkBSE Sensex rallied 746 points to close above the 80,000 mark following buying in oil, auto and banking shares amid fresh foreign fund inflows. The 30-share Sensex jumped 746.29 points or 0.93 per cent to settle at 80,604.08 with 26 of its constituents ending higher. During the day, it surged 778.26 points or 0.97 per cent to 80,636.05. The 50-share NSE Nifty jumped by 221.75 points or 0.91 per cent to 24,585.05. 'The market saw a relief rally post a 3-month low; positive global cues and a gradual return of FIIs supported the sentiment. Investors are positively assessing the upcoming US-Russia Summit this week, which may possibly give way to a de-escalation in geopolitical tensions. While a near-term caution may still prevail, the more definite assessment of the US trade and growth impact is yet to be assessed fully,' Vinod Nair, Head of Research, Geojit Investments Ltd, said. As many as 2,237 stocks advanced, while 1,930 declined and 170 remained unchanged on the BSE. 'Markets started the week on an upbeat note, gaining nearly a percent and providing a breather after the recent decline. The tone was positive from the outset and further strengthened in the latter half, supported by a noticeable recovery in heavyweights across sectors,' said Ajit Mishra, Sr V-P (research), Religare Broking. Among Sensex firms, Tata Motors, Eternal, Trent, State Bank of India, UltraTech Cement and Larsen & Toubro were the major gainers. However, Bharat Electronics, Bharti Airtel and Maruti were the laggards. The BSE midcap gauge climbed 0.79 per cent and the smallcap index rose by 0.35 per cent. The majority of the BSE sectoral indices ended higher. Realty surged the most by 1.86 per cent, followed by bankex (1.13 per cent), healthcare (1.12 per cent), auto (1.03 per cent), financial services (1 per cent), utilities (0.92 per cent), services (0.90 per cent) and power (0.85 per cent). Consumer Durables emerged as the only laggard. Foreign Institutional Investors (FIIs) bought equities worth Rs1,932.81 crore on Friday, according to exchange data.
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Business Standard
24 minutes ago
- Business Standard
Indian Largecap IT stocks: A relative safe haven amid market volatility?
Indian largecap IT stocks, once trading at premium valuations, have seen a sharp derating amid a sectoral slowdown, persistent negative news flow, and an uncertain global demand outlook. Industry bellwether Tata Consultancy Services (TCS) has seen its trailing twelve-month price-to-earnings (PE) ratio fall from 41x to around 20x, even as its profit CAGR stood at 8.5% and stock CAGR at about 6% over the past five years. While the Nifty IT Total Return Index (TRI) and sectoral earnings per share (EPS) have compounded at roughly 12.5% annually over the past two decades, the index has lagged the broader Nifty over the last three to five years. Analysts at DSP Mutual Fund note that IT's weight in the Nifty is now hovering near decade lows, but the sector's fundamentals remain robust, with top-tier companies continuing to deliver return on invested capital (ROIC) above 40%. This could set the stage for relative outperformance if valuations correct further. However, this positioning is more about relative safety than absolute return potential. Market strategists at DSP MF suggest that in the current volatile environment, a defensive portfolio comprising largecap IT, banks, and select other blue-chip stocks could help investors weather short-term turbulence while preserving capital. "With IT's weight in the Nifty near decade lows, and leading firms still generating ROICs above 40%, the sector may offer relative outperformance if valuations fall further. This doesn't signal that these stocks can deliver absolute returns, but when compared to the rest of the market, this may act as a relatively better investment avenue. The defensive bucket of IT, Banks and a few other largecap stocks can be used to tide over the market volatility," said Sahil Kapoor, Market Strategist and Head of Products at DSP Mutual Fund. What's driving this opportunity? IT's weight in the Nifty is near decade lows Leading firms are still generating ROICs above 40% The sector may offer relative outperformance if valuations fall further The defensive bucket of IT, Banks and a few other largecap stocks can be used to tide over the market volatility
Economic Times
an hour ago
- Economic Times
Regaal Resources IPO opens for subscription; GMP at 22%. Should you bid?
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