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Mumbai: India’s stock benchmarks Nifty and Sensex are trading at record high valuations but there are pockets in the market where stocks are not as expensive as the main indices. Pharmaceutical, cement and select state-owned stocks are among the undervalued stocks within the BSE 500 universe going by their current Price to Earnings (PE) ratio a popular valuation measure - vis-a-vis their 10-year averages, data compiled by ETIG Database showed.
Analysts believe cyclicals like cement are likely to do well as economy attempts to come out of the Covid-inflicted damage, while pharmaceutical stocks will return to favour whenever uncertainty heightens.
NEW DELHI: Ace investor Rakesh Jhunjhunwala, who recently reduced his stake in Titan, says cyclical stocks and the most battered smallcaps and midcaps will outperform favoured blue chips like HDFC and Titan over the next 4-5 years.
“If you look at the valuations of cement stocks and metal stocks, and if you look at the prospect of metal stocks, there is a huge divergence there. I don’t understand it yet. I think there is a great opportunity there. I am a large investor there,” Jhunjhunwala said at an AIMA Conclave on Tuesday.
Arguing that the most battered stocks, and smallcaps and midcaps are going to give biggest returns from here on, the ace investor said: It s not going to be the HDFCs and the Titans and the most favoured stocks. It is the battered and cyclical stocks which will give the best returns over the next 4-5 years.
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NEW YORK (Reuters) -A U.S. regulator barred a former Goldman Sachs & Co research analyst from the brokerage industry for insider trading in two companies that the company was about to upgrade, and for lying about his trading.
FILE PHOTO: Signage is seen outside of the Financial Industry Regulatory Authority (FINRA) offices in Manhattan, New York City, U.S., September 11, 2020. REUTERS/Andrew Kelly/File Photo
The Financial Industry Regulatory Authority (FINRA) said Brian Maguire bought $850,000 worth of shares in two companies last April and June after receiving internal emails that a fellow analyst would soon raise the companies’ ratings to “buy” from “neutral.”
Trading Post shuts down in wake of volunteer burnout
Warkworth will miss the Wednesday sales.
Mahu Community Trading Post, on the corner of Mill Lane and Whitaker Road, will shut down permanently on June 30. Chairperson John Carr says it was a tough decision to close.
“Our team of volunteers has reached burnout point with the volume of work involved in the weekly sales. The increase in operating costs has also contributed to this decision,” he says.
The shop, which sells donated secondhand goods, has given away a total of $320,000 to community causes since opening in September 2018. John says there will still be money in the kitty for future applicants when the store closes.