Tag: india inc

Factors like ample liquidity, solid earnings by India Inc, and a conducive global mood fired up stocks on Dalal Street today(4th August 2021) with benchmarks claiming fresh record peaks for the second consecutive day. The frontline BSE Sensex zoomed 510 points to quote at 54,333 levels after hitting a new peak of 54,340.5-mark in early deals. Its NSE counterpart, on the other hand, traded at 16,270 levels, up 130 points. In the intra-day session, it hit a new peak of 16,271. In the broader markets, the BSE MidCap and SmallCap indices also claimed new lifetime highs, adding 0.3 percent and 0.6 percent, respectively. About 70 companies, including State Bank of India, Titan Company, Godrej Consumer Products, HPCL, and PNB Housing Finance, that are slated to report their June quarterly result. Read more

Indian conglomerates bought and sold companies in record-breaking deals despite a majority of smaller firms ending the year on a dull note. Many corporate India is ending 2020 with battered sales and profits due to the pandemic while a few top companies saw a phenomenal rise in their market valuation. The year 2020 will be remembered for the billions of dollars’ worth of investments reported by Reliance Industries by selling a stake in its telecom services arm, Jio Platforms. As soon as the Mukesh Ambani-led firm stopped selling stakes in Jio, global investors queued up to invest in its organised retail arm, making the company virtually debt-free. Backed by billions of dollars of investments from marque global investors, Ambani then acquired Future group’s entire retail and wholesale business for Rs 25,000 crore, giving the group a significant lead in organised retail. Read more

The current dividend season has turned out to be unexpectedly generous despite a poor show by India Inc in the fourth quarter and fiscal year ended March 2020. The combined dividend payout by India’s top listed companies, which are part of the BSE500 Index, for FY20 was up 6.5 percent, the fastest growth in the past three years. And, equity investors should thank cash-rich biggies such as Tata Consultancy Services (TCS), ITC, Hindustan Unilever, Nestlé, and Bajaj Auto for this. However, excluding consumer and software services companies, dividend payout is down 17.6 percent year-on-year (YoY) to Rs 1.12 trillion in FY20, from Rs 1.36 trillion a year ago. In contrast, these firms had raised the payout by 5.3 percent in FY19. Read more