Market News
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Banks remain top sector bet, see value in IT at current valuations: UTI AMC's Vetri Subramanian
UTI AMC CEO Vetri Subramanian said banking and financial stocks remain his highest-conviction investment idea as favourable valuations, healthy balance sheets and sustained credit growth could support earnings growth and a valuation re-rating. He also said current IT valuations justify staying invested, with AI integration likely to create opportunities for Indian technology companies, while urging caution on sectors trading at elevated valuations such as defence.
TCS, Infosys crash up to 55%: Why India's largest mutual fund scheme is still buying
India's largest mutual fund scheme is buying more shares of TCS and Infosys. This buying occurs even as these IT stocks experience significant market value losses. The fund manager's conviction rests on current cash flows rather than future AI narratives. While AI disruption pressures revenue, it also creates new technology spending opportunities. The sector is no longer considered expensive, but earnings visibility remains a concern.
Market's worst phase is over; focus on picking the right stocks, says Quant Mutual Fund's Sandeep Tandon
Sandeep Tandon believes the next few months will reward investors who pick strong companies rather than simply betting on the broader market, with infrastructure, power and select energy stocks among his top bets.
Top Gainers & Losers on 6 July: Swan Corp, Zen Tech, HFCL, HDFC Bank, Thermax, Hitachi Energy among top gainers
Indian stock markets rose on July 6, with benchmark indices gaining over 0.60%. The Nifty 50 closed 0.66% higher at 24,420, while Sensex advanced 0.67% to 78,236. HDFC Bank and Axis Bank drove gains, while Nifty Realty led sectoral increases with a 2% rise.
India's power sector enters "value chain" reset led by transmission, storage and demand growth: Report
India's power sector is undergoing a overhaul, with transmission infrastructure and energy storage identified as key drivers for the next decade. Projections show installed capacity soaring to 900GW by FY32, supported by continued coal use and a surge in renewables. This expansion hinges on deploying increased energy storage to manage grid stability and meet rising demand from industries and new sectors.
HDFC Bank reports 15% loan and deposit growth from last year in Q1
HDFC Bank's gross advances increased 15.4% to ₹30.61 lakh crore. Its current account savings account (CASA) deposits were up 9.4% to ₹10.25 lakh crore.
Healthcare, banks and EVs remain long-term bets: Invesco Mutual Fund's Taher Badshah
Taher Badshah, Chief Investment Officer at Invesco Mutual Fund, expects EV adoption to increase gradually with policy support, while opportunities are emerging in power distribution alongside transmission. Badshah also said SIP inflows remain stable and mutual fund industry trends are not showing signs of concern.
Vinay Rajani of HDFC Sec suggests L&T Finance, Welspun Enterprises shares to buy in near-term
Indian equity benchmarks, Nifty 50 and Sensex, declined due to geopolitical tensions impacting investor sentiment. The BSE Sensex fell over 400 pts, and Nifty 50 dropped around 115 pts. Upcoming domestic macroeconomic indicators will guide investors amid concerns over US-Iran military exchanges.
2 years, zero returns: Is it time for Nifty investors to be fearful or greedy?
Nifty investors face two years of flat returns, mirroring past periods that historically led to significant market recoveries. Data shows that after similar stagnation, one-year gains ranged from 5% to 50%. Valuations have become attractive, and earnings growth is projected to accelerate. Despite some concerns, the current market setup suggests a potential for strong returns as economic fundamentals improve.
PFC, REC boards approve merger scheme, share exchange ratio at 88 PFC shares for every 100 REC shares
Power Finance Corporation and REC Ltd boards have greenlit their merger, creating India's largest power financier with over Rs 11 lakh crore in loans. The approved share swap ratio is 88 PFC shares for every 100 REC shares. This consolidation aims to boost operational efficiency and bolster the balance sheet, positioning the combined entity to significantly fund India's energy transition and infrastructure growth.
PFC, REC boards approve merger scheme, share exchange ratio at 88 PFC shares for every 100 REC shares
Power Finance Corporation and REC Ltd boards have greenlit their merger, creating India's largest power financier with over Rs 11 lakh crore in loans. The approved share swap ratio is 88 PFC shares for every 100 REC shares. This consolidation aims to boost operational efficiency and bolster the balance sheet, positioning the combined entity to significantly fund India's energy transition and infrastructure growth.
Six of top-10 firms add ₹88,678 crore in mcap, ICICI Bank biggest winner
The combined market valuation of 6 of the top-10 most valued companies went up by Rs 88,678.1 crore in a holiday-shortened last week, with ICICI Bank emerging as the biggest winner. Last week, the BSE benchmark Sensex climbed 297.57 points, or 0.38 per cent, and the NSE Nifty went up by 42.9 points, or 0.17 per cent. "Markets ended the holiday-shortened week with modest gains, advancing in three of the four trading sessions. Sentiment remained constructive, supported by easing crude oil prices, improving geopolitical developments in West Asia, and selective buying by foreign institutional investors (FIIs)," Ajit Mishra, SVP, Research, Religare Broking Ltd, said. While Reliance Industries, HDFC Bank, ICICI Bank, State Bank of India, Bajaj Finance and Larsen & Toubro were the gainers, Bharti Airtel, Tata Consultancy Services (TCS), Life Insurance Corporation of India (LIC) and Hindustan Unilever faced erosion from their valuation. The market valuation of ICICI Bank jumped Rs ...