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New Indian Express
17 hours ago
- Business
- New Indian Express
Indian markets close lower amid global trade concerns and tepid earnings
CHENNAI: Indian equity markets ended in the red on Tuesday (June 3) as investor sentiment was dampened by escalating global trade tensions and subdued corporate earnings. Market Performance BSE Sensex closed at 80,737.51, down 636.24 points or 0.78%, and Nifty 50 settled at 24,542.50, declining by 174.10 points or 0.70%. Sectoral Trends The broader markets also faced pressure, with the BSE MidCap index falling by 0.32% and the BSE SmallCap index declining by 0.0048%. Key Influencing Factors Adani Group shares witnessed broad-based declines during Tuesday's trade following reports suggesting alleged links to Iranian LPG shipments, which the company strongly denied.
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Business Standard
18 hours ago
- Business
- Business Standard
ISGEC Heavy Engineering jumps 5% on resuming ops at Muzaffarnagar unit
ISGEC Heavy Engineering share price: ISGEC Heavy Engineering share price was in demand in a weak market on Tuesday, June 3, 2025, with the scrip rising as much as 4.79 per cent to hit an intraday high of ₹1,258.95 per share. However, by 12:40 PM, ISGEC Heavy Engineering share price was off day's high, and was trading merely 0.18 per cent higher at ₹1,203.55. In comparison, BSE Sensex was trading 0.51 per cent lower at 80,955.45 levels. Why did ISGEC Heavy Engineering share price rise today? ISGEC Heavy Engineering share price rose after the company announced that it has been granted permission by National Green Tribunal, New Delhi, to resume operations at its unit situated at Village Nara, Meerut Road, Muzaffarnagar, Uttar Pradesh. In an exchange filing, ISGEC Heavy Engineering said, 'We would like to give an update that National Green Tribunal, New Delhi, vide its order dated May 30, 2025 (Copy received today, i.e., June 2, 2025), has granted permission to resume operations at the Unit, subject to compliance with the provisions outlined in the Tribunal's order.' Earlier, Air Quality Management in National Capital Region Adjoining Areas, New Delhi (Commission), had ordered to close down all industrial operations / activities for the factory / unit of the company situated at Village Nara, Meerut Road, Muzaffarnagar, Uttar Pradesh (Unit), until further orders for resumption. 'The Company will submit a detailed reply to the Commission. After reviewing the submission and providing an opportunity for a hearing, the Commission will issue a fresh order in this matter,' ISGEC Heavy Engineering said, in a statement. About ISGEC Heavy Engineering ISGEC Heavy Engineering is a multifaceted company engaged in the design, manufacturing, and execution of complex engineering projects. With a strong foundation in heavy engineering, ISGEC produces a wide array of industrial equipment, including process plant equipment, hydraulic and stamping presses, steel and iron castings, and boiler components such as panels and piping. The company also provides contract manufacturing services, catering to the diverse needs of industries across the globe. In addition to its manufacturing capabilities, ISGEC is a key player in the Engineering, Procurement, and Construction (EPC) sector. It delivers turnkey solutions for a range of industrial projects, including boilers, power plants, sugar plants, and distilleries. The company also provides specialised services in air pollution control, industrial wastewater treatment, bulk material handling, and civil construction, reflecting its expertise in end-to-end project execution and infrastructure development. Last checked, the market capitalisation of ISGEC Heavy Engineering was ₹8,849.64 crore, BSE data showed. The company falls under the BSE SmallCap index.
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Business Standard
7 days ago
- Business
- Business Standard
What drove SEPC share price 11% higher on Wednesday, May 28? Find out here
SEPC share price: SEPC shares were in demand in a weak market, with the stock rallying up to 10.51 per cent to an intraday high of ₹15.76 per share. However, at 1:03 PM, SEPC shares were off day's high, and were trading 7.22 per cent higher at ₹15.29 apiece. In comparison, BSE Sensex was trading flat 81,515.37 levels. Catch Stock Market Updates Today LIVE What triggered an 11% rally in SEPC share price today? SEPC share price rose after it announced that arm, SEPC FZE, Sharjah, has secured a contract by Lauren Engineers & Constructors INC worth ₹75.6 crore (equivalent to $8.9 million). In an exchange filing, SEPC said, 'This is to inform you that SEPC FZE, Sharjah, UAE, our wholly owned subsidiary, has been awarded a contract by Lauren Engineers & Constructors INC for the construction, supply and installation of four units of 45,000 litre capacity steel tanks for a total consideration of $8.9 Million (equivalent to ₹756 million). Under the terms of the order, SEPC will be responsible for the construction, supply and installation of four units of 45,000 litre capacity steel tanks. Notably, the construction will take place in Fujairah, United Arab Emirates. The project is expected to be delivered within 15 months from the start of the project (including commissioning). SEPC Q4 results The SEPC board of directors is scheduled to meet on Thursday, May 29, 2025, to consider and approve the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2025 (Q4FY25 & FY25). About SEPC SEPC, founded in June 2000, is among the leading providers of integrated Engineering, Procurement, and Construction (EPC) services. The company engages in delivering end-to-end solutions across a wide range of sectors, including water, infrastructure, metallurgy, and process industries. SEPC offers multidisciplinary services that cover design, engineering, procurement, construction, commissioning, and project management. SEPC operates in two main business areas including infrastructure and industrial EPC. In the infrastructure sector, the company is involved in projects such as drinking water systems, sewerage systems, and road construction for the Ministry of Road Transport & Highways. ALSO READ | The industrial EPC division focuses on steel plants, deep shaft mining, power plants, and process plants. SEPC has a diverse client base, including major organisations like Tata Steel, NMDC Ltd, and Delhi Jal Board, showcasing its capabilities across a variety of industries. Last checked on BSE, SEPC's market capitalisation stood at ₹2,913 crore. It falls under the BSE SmallCap category.
Economic Times
26-05-2025
- Business
- Economic Times
Rs 7 lakh crore boom in just 10 days! Is the smallcap stocks party getting out of hand?
Smallcap stocks have surged, adding Rs 7.3 lakh crore to investor wealth in just 10 sessions, fueled by sectoral tailwinds and retail investor enthusiasm. Synopsis Smallcap stocks have surged, adding Rs 7.3 lakh crore to investor wealth in just 10 sessions, fueled by stock-specific triggers and retail investor enthusiasm. While some experts see justified valuations due to growth, others caution against stretched valuations and potential herd behavior, highlighting the risks of chasing momentum after a prior correction. The rally's sustainability remains questionable. As small is turning out to be beautiful once again, smallcap stocks have added a jaw-dropping Rs 7.3 lakh crore to investor wealth in just 10 trading sessions — a 10% surge in the BSE SmallCap index that has caught both retail and institutional investors off guard. The sharp rally, led by explosive moves in names like Nelcast and Cosmo First (both up 65%) and GRSE (up 55%), has sparked fresh debate: is this a sustainable rebound or another round of frothy FOMO? ADVERTISEMENT A total of 46 stocks have surged at least 30% in the last 10 days, with names such as TTML, IFCI, BLS E-Services, NDTV, Inox Green Energy, Zen Tech, Angel One and Titagarh Rail among the standout performers. The breadth of the rally has been remarkable — out of nearly 980 stocks in the BSE SmallCap index, fewer than 70 have delivered negative returns during this period. The rally, while widespread, has been driven by a combination of stock-specific triggers, sectoral tailwinds, particularly in defence and railways, and liquidity-led buying from retail investors eager to ride the next big wave. 'The recent ferocious rally in defence stocks post the recent skirmish (Operation Sindoor) is yet another example of greed or FOMO taking over rational investing behaviour,' said Atul Bhole, EVP & Fund Manager at Kotak Mahindra AMC. He noted that several small and midcap (SMID) stocks had earlier suffered value erosion of 40-60% between mid-2024 and early 2025, largely due to momentum-driven buying without fundamental backing. Also read | Smallcap surge or mere illusion? Rupak De decodes trends in broader market Bhole warns that while mutual funds and institutional investors have sidestepped many of these traps, retail participants may not have learned their lesson: 'The market is like a voting machine in the short term and keeps attracting new investors or making the same investors repeat newer mistakes.' ADVERTISEMENT Dhiraj Relli, MD & CEO of HDFC Securities, said the rally comes on the heels of a brutal correction: 'Midcap and small cap indices corrected 20-22% earlier this year, with many stocks falling 25-40%, which made valuations more attractive.' Sectors like railways, defence, and metals have since staged sharp rebounds. ADVERTISEMENT Still, Relli cautioned that investors chasing momentum need to tread carefully. 'Valuations in several segments have again become expensive. While smallcaps offer high return potential, they also come with high risk.'Rupak De, Senior Technical Analyst at LKP Securities, argued the current rally might be masking deeper issues. 'Many broader market stocks continue to look vulnerable to selling pressure. A handful of quality names are pulling up the smallcap and midcap indices, creating the illusion of broad strength.' ADVERTISEMENT He emphasized that this isn't 2023 anymore: 'This time around, the market will truly test your stock-picking skills.' Despite concerns, some strategists see merit in the rally. Seshadri Sen of Emkay Global noted that high valuations in the SMID space may not be as alarming as they appear. 'We do not see any bubble in SMIDs. High valuations are supported by growth and improved earnings quality,' he said. Sector composition differences between large caps and small/midcaps, he argues, explain much of the divergence in price-to-earnings ratios. ADVERTISEMENT Yet, not everyone is buying the Equities flagged that 30% of new mutual fund investors have entered the markets in the past two years, with disproportionate flows into midcap, smallcap, and thematic funds — a pattern that raises red flags around sustainability. Many of these investors are still heavily invested in 'narrative' stocks, despite last year's harsh Rs 7.3 lakh crore question is not whether smallcaps can rally but whether this rally is built on solid ground or destined to unravel under the weight of stretched valuations and herd behaviour. For now, momentum is in control — but fundamentals may soon have their say. (Data: Ritesh Presswala) Also read | Can Sensex hit 1 lakh in 1 year? Morgan Stanley gives new target (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? 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Time of India
26-05-2025
- Business
- Time of India
Rs 7 lakh crore boom in just 10 days! Is the smallcap stocks party getting out of hand?
Smallcap stocks have surged, adding Rs 7.3 lakh crore to investor wealth in just 10 sessions, fueled by stock-specific triggers and retail investor enthusiasm. While some experts see justified valuations due to growth, others caution against stretched valuations and potential herd behavior, highlighting the risks of chasing momentum after a prior correction. The rally's sustainability remains questionable. Tired of too many ads? Remove Ads Momentum Meets Narrative Tired of too many ads? Remove Ads A Bounce from the Bottom Not a Rising Tide for All Are Valuations Justified? Tired of too many ads? Remove Ads As small is turning out to be beautiful once again, smallcap stocks have added a jaw-dropping Rs 7.3 lakh crore to investor wealth in just 10 trading sessions — a 10% surge in the BSE SmallCap index that has caught both retail and institutional investors off guard. The sharp rally, led by explosive moves in names like Nelcast and Cosmo First (both up 65%) and GRSE (up 55%), has sparked fresh debate: is this a sustainable rebound or another round of frothy FOMO?A total of 46 stocks have surged at least 30% in the last 10 days, with names such as TTML Angel One and Titagarh Rail among the standout performers. The breadth of the rally has been remarkable — out of nearly 980 stocks in the BSE SmallCap index, fewer than 70 have delivered negative returns during this rally, while widespread, has been driven by a combination of stock-specific triggers, sectoral tailwinds, particularly in defence and railways, and liquidity-led buying from retail investors eager to ride the next big wave.'The recent ferocious rally in defence stocks post the recent skirmish (Operation Sindoor) is yet another example of greed or FOMO taking over rational investing behaviour,' said Atul Bhole, EVP & Fund Manager at Kotak Mahindra AMC. He noted that several small and midcap (SMID) stocks had earlier suffered value erosion of 40-60% between mid-2024 and early 2025, largely due to momentum-driven buying without fundamental warns that while mutual funds and institutional investors have sidestepped many of these traps, retail participants may not have learned their lesson: 'The market is like a voting machine in the short term and keeps attracting new investors or making the same investors repeat newer mistakes.'Dhiraj Relli, MD & CEO of HDFC Securities, said the rally comes on the heels of a brutal correction: 'Midcap and small cap indices corrected 20-22% earlier this year, with many stocks falling 25-40%, which made valuations more attractive.' Sectors like railways, defence, and metals have since staged sharp Relli cautioned that investors chasing momentum need to tread carefully. 'Valuations in several segments have again become expensive. While smallcaps offer high return potential, they also come with high risk.'Rupak De, Senior Technical Analyst at LKP Securities, argued the current rally might be masking deeper issues. 'Many broader market stocks continue to look vulnerable to selling pressure. A handful of quality names are pulling up the smallcap and midcap indices, creating the illusion of broad strength.'He emphasized that this isn't 2023 anymore: 'This time around, the market will truly test your stock-picking skills.'Despite concerns, some strategists see merit in the rally. Seshadri Sen of Emkay Global noted that high valuations in the SMID space may not be as alarming as they appear. 'We do not see any bubble in SMIDs. High valuations are supported by growth and improved earnings quality,' he said. Sector composition differences between large caps and small/midcaps, he argues, explain much of the divergence in price-to-earnings not everyone is buying the Equities flagged that 30% of new mutual fund investors have entered the markets in the past two years, with disproportionate flows into midcap, smallcap, and thematic funds — a pattern that raises red flags around sustainability. Many of these investors are still heavily invested in 'narrative' stocks, despite last year's harsh Rs 7.3 lakh crore question is not whether smallcaps can rally but whether this rally is built on solid ground or destined to unravel under the weight of stretched valuations and herd behaviour. For now, momentum is in control — but fundamentals may soon have their say.(Data: Ritesh Presswala): Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
