Its borrower profile includes self-employed non-professionals (51%) and salaried individuals (49% of total loan, it caters to the small ticket-size segment (average ticket size of Rs 12 lakh).
The Nifty gained 0.34% or 74.7 points to close at 22,196 after making a lifetime high of 22,215. The BSE Sensex gained 0.48% or 349.2 points to close at 73,057. The index is still 370 points away from its all-time high of 73,427.
In the past three months, the Nifty PSE index surged close to 48%, while the Small-cap 250 and Mid-cap 100 indices rose about 21%. Analysts said the rally in public sector stocks has led to a surge in participation by individual traders, who have mounted bullish bets on them with borrowed money.
Hindware expanded its addressable market to Rs 50,000 crore in 2022 from Rs 4,000 crore in 2012 by extending its established brand ‘Hindware’ through new product categories.