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[hfe_template id='11223'] [ad_1] Notwithstanding skepticism around the future outlook of PSU stocks following a fractured mandate for the Modi government in Lok Sabha elections, the structural story of public sector companies is far from being over, according to analysts. Following a 16% crash on June 4, when election results was announced, in the BSE PSU index, the stocks have been on a recovery path non-stop for the last 6 trading sessions. Initially investors were apprehensive that the premium PSU stocks enjoyed due to BJP's ability to make structural reforms and decisions swiftly will go away as coalition partners may not give PM Modi a free hand over such decisions. But now the focus is now back to fundamentals. Also read | Sensex nearly doubled during Nirmala Sitharaman's first tenure as FM. Next target: 1 lakh! Here are 4 key reasons why investors are not willing to turn their back on PSU stocks: 1) Turnaround in PSU banks The sharp 190% rally seen in Nift...

[hfe_template id='11223'] [ad_1] Shares of housing finance and infrastructure project firms surged up to 9% in Tuesday's trade on the BSE after the newly formed NDA government, in its first cabinet meeting on Monday, decided to provide assistance to 3 crore additional rural and urban households for the construction of houses, to meet the housing requirements arising out of the increase in the number of eligible families. "A boost for ‘Ease of Living’ and dignity for crores of Indians! The cabinet has decided to further expand the Pradhan Mantri Awas Yojana and construct 3 crore additional rural and urban houses. This decision underscores the government's commitment to addressing the housing needs of our nation and ensuring that every citizen leads a better quality of life. The expansion of PMAY also highlights our government's commitment to inclusive growth and social welfare," said Prime Minister Narendra Modi. Following this development, Home Firs...

[hfe_template id='11223'] [ad_1] With Prime Minister Narendra Modi-led BJP failing to secure a simple majority on its own in the Lok Sabha election, global brokerage firm CLSA has tweaked its India portfolio to make it more defensive. It has replaced L&T with HCL Tech in India-focus portfolio. "Recognising these uncertainties, we take out L&T from our India focus portfolio and replace it with HCL Tech. L&T has been in our portfolio since its inception in January 2021 and outperformed by a huge 106.2ppt. ITC remains our preferred staples name," CLSA said. The brokerage is now clearly overweight banks, commodities, and IT along with insurance and staples. "Our exposure to Modi stocks is limited to ONGC and Reliance as these have rerated by less than 15% in the last six months. We fear de-rating in the expensive discretionary and capex space and prefer the valuation support in private banks," it said. On Modi stocks, it said the rally was led...

[hfe_template id='11223'] [ad_1] Even as initial election verdict trends triggered a bloodbath in domestic markets, around 270 stocks including Hindustan Unilever (HUL), Dabur, DMart, Marico resisted the negative sentiments. Early trends suggested that NDA is in pole position to form the government for the third consecutive term but unlikely to gain a brute majority of over 400 seats. This led to benchmark indices Sensex and Nifty losing over 7% in what is the biggest intraday fall in over 2 years. While HUL was the top gainer in the Nifty pack with over 4% jump, Dabur and Dmart were up over 1%. In the overall market, around 3465 stocks are trading with cuts. Around 82 stocks are locked in the upper circuit limit, while 855 names are locked in lower circuit. Some others which are seeing a rally despite the market freefall include Data Infrastructure, Ashiana Ispat, Sanwaria Consumer, Titaanium Ten Enterprises, Icon Engineers, Soni Medicare and others. Overall, if the NDA...

[hfe_template id='11223'] [ad_1] As the exit polls are flashing a clear advantage to the Bharatiya Janata Party (BJP) led NDA faction, top voices on Dalal Street see a continuation of reform policies in Prime Minister Narendra Modi's third term. They expect the government's focus on infrastructure, defence, railways and other sectors to continue. According to the poll-of-polls, the National Democratic Alliance (NDA) is projected to secure over 350 seats out of the 542 contested, spanning seven phases over 48 days. While exit polls are estimates, the counting of votes will take place on June 4, Tuesday. Here's what experts said: CLSA Even as the exit polls give BJP a poll position, the final outcome is yet to come. Hong Kong brokerage CLSA said that a favourable outcome would raise investor confidence in India’s economic growth. This could encourage investors to play this growth beyond Modi stocks, which are direct policy plays.It has gone ahead to identify 54...

[hfe_template id='11223'] [ad_1] Mumbai: Indian equities are poised to rise on Monday, with exit polls predicting a victory for the BJP-led National Democratic Alliance (NDA) in the general election, easing investor uncertainty over the ruling coalition's performance, analysts said. Benchmark indices may rise about 2% Monday as foreign investors could reduce bearish bets, giving the market a boost. Shares of public sector and manufacturing companies, beneficiaries of the Narendra Modi-led BJP government's Make in India theme, could lead the likely advance, they said. "Most exit polls are indicating a win for the NDA, which should trigger short covering on Monday," said Sriram Velayudhan, senior vice president, IIFL Securities. Uncertainty had set in over the past few weeks and foreign portfolio investor (FPI) short positions in index futures were at record highs, he said. FPIs' record bearish derivative bets and selling of shares have weighed down t...

[hfe_template id='11223'] [ad_1] More than earnings, elections are keeping investors on the edge of their chairs with low voter turnout and numbers from the betting markets of Phalodi Satta Bazar fuelling pessimism on Dalal Street. So far in the month, Sensex is down over 1,700 points with FIIs pulling out Rs 28,000 crore from Dalal Street. At the end of the fourth phase, voting is now over in around 70% of the 540 Lok Sabha seats. The remaining 163 constituencies will vote in the next three phases which will be over by June 1. The lower voter turnout seems to have caught markets by surprise, given the wider expectation that BJP would be able to garner an overwhelming groundswell of support, as was the case in the previous 2019 elections, analysts say. On a weighted average basis, voter turnout so far has been 66.9%, which is lower than the 69% turnout in the first four phases of the previous 2019 elections. "The betting markets (Phalodi Satta Bazar) are indicating ...