PSE SPACE
ETMarkets Smart Talk: Why FIIs are turning net sellers in Indian markets and it not because of election jitteriness, explains Niraj Kumar
While the incumbent government securing its third term bodes well for market stability, it does juxtapose them with some dependency on allies for imperative policy decisions.
ETMarkets Smart Talk: Rural consumption could top priority in Modi 3.0’s final Budget in July: Vinay Jaising
The BJP led NDA alliance is confident of forming the government for the third time consecutively which has not happened in India since 1962 when the Nehru led Congress was in Power; and an extremely spectacular event.
ETMarkets Smart Talk: Modi 3.0 unlikely to be over-populist at the cost of compromising fiscal discipline: Amar Ambani
In my opinion, the election event is done and dusted, and the market won’t read too much into it, to endure drastic corrections akin to the knee jerk reactions seen on poll outcome day.
Capital goods, defence, railways segment should continue to do well in PSU space: Mihir Vora
See, the good part is that the election has voted for continuity. So, there is no change in the ruling regime, so that is a big positive because what the market and the economy were expecting is continuation of the growth policies for various segments that the earlier government had been working on.
A confident NDA can propel Nifty towards 26,300: Rupak De of LKP Securities
In the midst of a tumultuous political scenario, the market may find reason to correct back to recent lows or even lower in the medium to long term. Conversely, a confident NDA could propel the Nifty towards 26300 and beyond in the medium to long term.
D-Street Week Ahead: More pullback can be expected, says expert
Vaishnav analysis highlights Nifty's volatile week, concerns about market breadth and resistance levels, bearish signals in the MACD, and defensive setups in sectors like FMCG and Pharma.
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Stock Radar: Multibagger returns in less than 1 year! This green NBFC player is poised for continued growth
IREDA has rallied by about 190% since its November 2023 listing. After reaching 215 in February, the momentum in the stock fizzled out. It continued to drift lower and found support above 120 levels in March. The stock is trading well above most of the crucial moving averages such as 5,10,30,50 and 100-DMA on the daily charts.
2 public sector companies in the energy space line up with 5-8% gains
Nifty hit a high soon after opening but could not maintain the altitude due to selling pressure. It dipped into negative and closed with a loss.
Smallcaps’ resilient show in April has 500 stocks offering double-digit returns. How to navigate May
The BSE smallcap index rallied nearly 10%, while the midcap index jumped over 7%. Within the smallcap space, over 500 stocks have delivered double-digit returns with the highest gain (Puravankara) going as high as 86%.
Aditya Arora on where money can be made in pharma space
Aditya Arora of Adlytick maintains a cautious view on the market due to the lack of broad-based rally. Smallcaps are correcting while safe havens like gold and pharma are performing well. Money can be made on the long side of the pharma space and the short side of high beta counters.
Market may remain in corrective phase till March: Rohit Srivastava
It usually does not unwind in a matter of days. It takes several months of consolidation before you can actually take out the highs of such a point where such an event has actually happened.
PSUs lose Rs 4 lakh crore in 2 sessions, may fall more
The Nifty PSE (Public Sector Enterprises) index plummeted almost 4% on Monday, its highest single-day decline since January 23, when the index fell 4.3%. The index dropped 2.7% on Friday.
PSUs lead mid and smallcap stocks' sell-off on Dalal Street
In the past three months, the Nifty PSE index surged close to 48%, while the Small-cap 250 and Mid-cap 100 indices rose about 21%. Analysts said the rally in public sector stocks has led to a surge in participation by individual traders, who have mounted bullish bets on them with borrowed money.
Book some profit in GAIL, Bhel; a buy on Granules India: Aditya Arora
Aditya Arora says: “The high beta counters have been little overstretched and valuation is hitting the roof, Nifty Pharma index is looking pretty good and components of the same are looking pretty good. In 2024, pharma index can dominate the trend. So, my stock pick would be Granules, which could be bought at Rs 414; Rs 390 should be the stop loss and Rs 460 should be the target.”
Q2 Review: Profits of 9 PSUs grow faster than sales; which stocks should you bet on?
The companies that saw profits grow faster than sales were REC, Power Finance Corporation, Coal India, NTPC, Bharat Electronics, IRCTC, Container Corporation of India, Gail India, and Oil and Natural Gas Corporation.
PSE aerospace firm & e-marketplace offer around 5% gain each
The Nifty traded in a capped range in the first half of the session but managed to end the day with gains.
Valuation comfort makes PSUs attractive
ONGC, Indian Oil, Power Finance Corporation (PFC), REC, SAIL, General Insurance, Oil India, and New India Assurance are among the PSUs trading below their book value. ONGC, which rallied 10% in the last six months, is trading at a book value of 0.71 times. According to the Bloomberg Consensus estimates, the stock is expected to yield 18% in a year.
Govt not in 'crazy rush' to sell everything: FM Sitharaman
The policy, she added, "is not a crazy rushing out to sell everything..nor it is saying that the government will run the business of producing pins to crops to everything. So where the government doesn't have to be, it won't. But where because of strategic interests you have to be, it will be there like telecom for instance.
Stock Radar: BPCL trading in rising channel in which MFs have raised stake during Q3
The oil & gas stock hit a 52-week high of Rs 399.80 on January 31, 2022, but failed to hold on to the momentum. The stock bounced back after hitting a low of Rs 288 on October 20, 2022.
Improve on professionalism, reduce expenditure, Sitharaman tells PSEs
"It is now time for PSEs to show that you are very keen to improve on your professionalism as much as you have done between 1991 and now. And where possible, in order to bring down the overheads, it might be worth looking at private participation together with what you are doing...you can benefit from the efficiency of the private sector," Sitharaman said.
Dalal Street Week Ahead: Any runaway move for Nifty highly unlikely in holiday-truncated week
Weekly options data show high call writing activities between 17,800-18,000 levels. This means that there are very little chances of Nifty moving past this zone in the next week. The downsides too may be limited; Nifty is likely to continue to stay in a defined consolidation range.
Trade setup: PSBs, select lenders to see traction; avoid creating shorts
Given the next week’s options data, the levels of 17,600 will act as an inflection point as it holds the highest Put and Call OI accumulation
Major port trusts, AAI out of the scope of PSE strategic divestment policy
The new Public Sector Enterprise (PSE) policy for Aatmanirbhar Bharat, which classifies public sector commercial enterprises as strategic and non-strategic sector, would be limited to central public sector enterprises, public sector banks and public sector insurance companies.
Ongoing strategic disinvestments of CPSEs to be outside PSE policy purview
Strategic disinvestments of Air India, Bharat Petroleum Corp Ltd, Shipping Corporation of India and BEML announced during FY21, are in various stages of advancement. The government is expecting to conclude these transactions in FY22.
Cabinet to soon consider new PSE policy: DEA Secretary
Under the policy, a list of strategic sectors will be notified where there will be at least one and a maximum of four public sector enterprise, apart from private sector companies.
Valuation of several PSU scrips are reasonable now: Here are 8 PSU stocks worth betting on
Though there is tremendous untapped value in the PSU space, investors should not jump in to buy anything and everything. Here is a list of stocks with at least 15 buy recommendations and with at least 20% potential upside from current levels.
Departing from the past: Cabinet may soon consider big bang privatisation policy
The Department of Investment and Public Asset Management (Dipam) is expected to shortly finalise a draft that will designate various sectors as strategic or non-strategic, officials told ET. Banking, petroleum, atomic energy, defence, space, and ports are likely to be part of the strategic list.
Govt 'clear and unapologetic' about privatisation of PSUs: Sanjeev Sanyal
The Cabinet also approved 'The Farming Produce Trade and Commerce (Promotion and Facilitation) Ordinance, 2020' to ensure barrier free trade in agriculture produce.
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