SECOND-RUNG STOCKS in the domestic equity market returned with a bang in the first half of 2023 after a lull in 2022. Consider this: While the BSE Midcap and Smallcap indices soared nearly 14 percent and 13 percent, respectively, on a year-to-date (YTD) basis till June 30, the benchmark BSE Sensex gained a relatively meagre 6 percent. The performance is even more impressive when compared with last year, when the BSE Smallcap index plunged 1.80 percent, while the BSE Midcap and Sensex gained 1.38 percent and 4.44 percent, respectively.
Buoyed by the current rally, the BSE Midcap, Smallcap, and Sensex also ended the first half (H1) at fresh record closing highs of 28,776.20, 32,602.14, and 64,718.56, respectively. Market watchers believe the recent outperformance in the broader markets will continue and factors such as formalisation and digitalisation of the economy, lower input costs, improved availability of credit, and expanding valuation multiples will support investor sentiment.
D-STREET STARS
Data showed that firms across sectors delivered in H1. With a jump of 66 percent YTD, Aurobindo Pharma was the top gainer in the mid-cap space, while One97 Communications (Paytm), PB Fintech, KPIT Technologies and Power Finance Corporation surged over 50 percent. In the large-cap space, ABB India jumped 65 percent YTD, followed by Cholamandalam Investment and Finance Company (up 58 percent), Tata Motors (up 53 percent), Hindustan Aeronautics (up 50 percent) and ITC (up 36 percent). However, heavyweights like Reliance Industries (up o.10 percent) and IT major Tata Consultancy Services (up 1.27 percent) saw almost no gains.
This story is from the July 23, 2023 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 23, 2023 edition of Business Today India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
DE-RISKING THE BOOKS
INDIAN BANKS ARE BEGINNING TO TAKE BABY STEPS TOWARDS ADDRESSING CLIMATE-RELATED FINANCIAL RISKS IN THEIR BOOKS. BUT THEY MUST PUT THEIR FOOT ON THE PEDAL AND ENHANCE PREPAREDNESS
PAYING FOR CHANGE
WITH EXTREME WEATHER INCREASINGLY PUTTING THE COUNTRY AND ITS ECONOMY AT RISK, INDIA SHOULD EXPLORE CLIMATE FINANCE PATHWAYS TO FUND ITS NET-ZERO JOURNEY TOWARDS A GREENER FUTURE
BEYOND THE BLIP
ESG HAS BEEN UNDER SCRUTINY GLOBALLY AMID ALLEGATIONS OF GREENWASHING AND RECORD REDEMPTIONS FROM ESG FUNDS. BUT THAT MAY JUST BE ONE SIDE OF THE STORY, SINCE SUSTAINABLE PRACTICES HAVE BECOME CORE COMPONENTS OF COMPANIES' STRATEGIES
BANDHAN AT A CROSSROADS
THE BELEAGUERED LENDER, LED BY CHANDRA SHEKHAR GHOSH, HAS FACED A HOST OF CHALLENGES IN RECENT TIMES. IT HAS READIED A BLUEPRINT TO DEAL WITH THEM. BUT WILL IT SUCCEED WITHOUT GHOSH AT THE HELM?
RESULT AND REPERCUSSIONS
After the verdict, the Street has turned cautious with analysts expecting the new government to reassess some of its policy priorities
D-STREET ANGELS
FACED WITH A DEARTH OF PURE-PLAY THEMES IN THE SECONDARY MARKETS, SEASONED INVESTORS LIKE VIJAY KEDIA, MUKUL MAHAVIR AGRAWAL, AND THE JHUNJHUNWALAS HAVE TRAINED THEIR SIGHTS ON THE START-UP
A Man of Multitudes
IN A NEW BOOK, CAPTAINS OF INDIA INC. AND OTHERS PAY TRIBUTE TO RAHUL BAJAJ, THE TITAN OF INDIAN INDUSTRY
HOUSE OF THE RISING SUN
WITH THE GOVERNMENT OFFERING SUBSIDIES UNDER THE PM SURYA GHAR MUFT BIJLI YOJANA, MANY HOUSEHOLDS HAVE TAKEN A SHINE TO SOLAR ROOFTOP PANELS. BUT HOW MUCH DO THEY COST?
FROM GREY TO GREEN
WITH THE CLIMATE CRISIS BECOMING MORE ACUTE, GREEN HYDROGEN COULD BE AN IMPORTANT SOLUTION
ECO CHAMBER
DATA CENTRES ARE A VERY VITAL PART OF THE DIGITAL TRANSFORMATION THAT IS UNDERWAY, BUT THERE'S A PROBLEM: THEY CONSUME TOO MUCH ENERGY. AS DEMAND FOR SUCH CENTRES INCREASES IN INDIA, IT HAS NO OPTION BUT TO EMBRACE GREEN SOLUTIONS
