Devang Mehta, believes that the Nifty will cross 24,000 in 2024. He states that there are a confluence of factors, including macros, sentiment towards equities, and earnings growth, that support this possibility. Mehta emphasizes the importance of earnings-led rally rather than a rally of everything. He also discusses the potential of Reliance s financial business model and the shift towards financial assets.
Since it’s long been Warren Buffett’s favorite sector, it’s fascinating to see life insurance stocks doing so well lately with more than just a few now hitting 52-week.
Insurance as a product has been existing for ages, but still the industry was growing at a very slow pace. The awareness and the need to have insurance on which companies had been spending tons of money got created without them spending even a penny, due to covid. But it came with its set of problems, more claims, more requirements of capital. Then came changes in tax laws, which was another big blow. Given the fact that the overall size of the markets, a number of these problems will get resolved over a period of time. So does the current phase of consolidation is an opportunity for investors looking for a long term investment opportunity?
Mazagon Dock Shipbuilders emerges as the top performer among PSU companies, delivering consistent impressive returns since its listing in October 2020. Rail Vikas Nigam registered a remarkable return of 170% this year, while IRFC and IRCTC also showed strong performance.