Covid 2.0 clips wings of D-Street biggies; midcaps fly high
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Even since BSE Sensex came off its February 16 high and Covid cases started surging, the 10 most-valued stocks on Dalal Street have continuously underperformed the broader market.
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NEW DELHI: Covid 2.0 seems to have its target set in the stock market: the 10 most valued stocks.
Even since BSE Sensex came off its February 16 high and Covid cases started surging, the 10 most-valued stocks on Dalal Street have continuously underperformed the broader market. A breakup of the BSE500 stocks suggests as one goes further down the market-cap order, stock performances have improved incrementally.
Power Grid InvIT mops up ₹ 3,480 crore from 47 anchor investors
K.R.Srivats
New Delhi |
Updated on
April 29, 2021
Public issue of Power Grid InvIT opens today; price band is ₹ 99-100 per unit Maharana company Power Grid Corporation’s InvIT offering got off to a strong start, with the anchor book seeing a mop-up of ₹ 3,480 crore on Wednesday from 47 institutional investors that included many international and leading domestic funds. The amount mobilised through the anchor book accounted for nearly 45 per cent of the targeted ₹ 7,735 crore from the public issue.
The public issue of this InvIT, first ever from a public sector company, opens on Thursday and has a price band of ₹ 99-100 per unit.
Stocks that helped PMSes focused on smallcaps, midcaps outperform in March
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Saurabh Mukherjea, Founder, Marcellus Investment Managers, thinks Indian specialty chemicals today is where the pharma sector stood in the mid-1990s on the cusp of a golden 20-year run.
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Some multicap PMSes, which have larger allocation to midcap and smallcap stocks, also performed well in March, continuing from the earlier months. That was even when their benchmarks finished largely flat for the month.
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NEW DELHI: Smallcap and midcap-focused PMS schemes outperformed their peers by a vast margin for yet another month, as the equity market favoured smaller names vis-à-vis the larger ones in March.
Are we going through that phase of the market where there is universal acceptance that things will look up but the market is not due for a time wise and a price wise correction? All our assumptions in the corona front, global front and liquidity are getting challenged.
This is the second wave. There are lots of learnings from the first wave. A lot of missteps of the first wave will not be repeated in tackling the second wave. You are already seeing how the response is now local as opposed to global in terms of a lockdown. Each state is doing one on its own.
S Krishnakumar CIO Sundaram MF moves out
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His exit comes as Sundaram is set to buyout the Indian asset management business of US-based financial services group Principal in an all cash transaction, which is waiting for approval from the markets regulator.
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Sundaram has begun search for a fund manager to fill his position, said managing director Sunil Subramaniam.
S Krishna Kumar, chief investment officer equity at
Sundaram Mutual Fund has resigned after a 17-year-stint at the fund house. Krishna Kumar is likely to start his own firm.
Sundaram has begun search for a fund manager to fill his position, said managing director Sunil Subramaniam.