Swift gains on Dalal Street this year have also led to a sharp surge in shares of equity market intermediaries like depositories, exchanges, and registrar and transfer Agents (RTAs).
The stock prices of BSE, CDSL, CAMS, and KFin Technologies are up 24-283 per cent so far in 2023 when compared to a 9 per cent rise in the benchmark Nifty index.
With the market buoyancy expected to keep up the pace, analysts believe these stocks are a good long-term bet despite the sharp rally, which can trigger an intermittent correction.
India Business News: Delta Corp's stock fell 20% on Monday, to its lowest level since January 2021, after the firm said that it has received a notice to pay Rs 11,140 cror
HDFC Asset Management Company shares fell 1.50 per cent, while UTI Asset Management fell 0.87 per cent. Aditya Birla Sun Life AMC also fell 0.68 per cent.
After rallying over 40% in the last 6 months, ITC shares ended about 4% lower at Rs 470.90 on BSE after the FMCG major announced that it will hive off the hotels business into a new subsidiary. By doing this, ITC management has begun the process of addressing the biggest investor concern around the demerger of its non-cigarette business like hotels, agri and IT