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AHMEDABAD: Gujarat’s billion-dollar-plus market cap club has grown bigger on the back of stock markets rally since last June. The number of listed companies having m-cap of more than a billion dollar (approximately Rs 7,532 crore) has now increased to 22 from 17 within a year since April 2020.
Although the equity indices have turned volatile currently amid growing cases of Covid-19 cases and its impact on various sectors, bull run on bourses since June last year has helped Gujarat-based companies enter the coveted billion-dollar club, said stock analysts.
According to analysis of the Gujarati firms listed on BSE, the entities that made it to the billion-dollar (one billion dollar is approximately Rs 7,532 crore considering the value of rupee against dollar at 75.32) m-cap club in past one year are Deepak Nitrite Limited, Ratnamani Metals and Tubes Ltd, Gujarat Fluorochemicals Limited, Symphony Ltd and Eris Lifesciences Limited.
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The ESG (environmental, social, governance) trend continues, with more than half of institutional investors now saying that such factors directly impact their decision to invest with a hedge fund. To determine this statistic, HFM Insights held interviews and surveys with 65 fund selectors during the fourth quarter. It also looked at analysis of its other data and data from the United Nations Principles for Responsible Investment (UNPRI).
ESG becoming important in hedge fund selection
In a recent report, HFM Insights said there s a distinct regional divide by geographical region in the importance of ESG for hedge fund selection. The firm found that 58% of European investors incorporate ESG into their fund selection process, while only 35% of North American investors and 20% of Asia-Pacific investors do.