WHV-EAM International Small Cap Equity Fund bought a stake in Lux Industries on Wednesday, which was followed up by Abakkus and GMO buying shares in Rupa & Company on Thursday.
The index is now back to the level it was in mid-February when the government was touting its victory over the pandemic and the market was still high on the steroid shot provided by the Budget.
Market Movers: Consumer stocks get some attention as hotels rally on hope
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From quick-service restaurants to jewellery makers, from biscuit makers to premium motorcycle producers, investors showered some love on the stocks of these companies. The smile on the faces of consumer-facing companies came at the cost of frowns on the long faces of banks, who were painted in the red.
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MUMBAI: Consumer-facing companies are steadily becoming the flavor of the market as investors can sense the joy of being let out of their self-quarantined chambers and out in the world of consumerism.
Sassiness aside, Concor s management also said that the company has cleaned up its accounts to prepare themselves for the eventual divestment that the government has scheduled for them.
SBI s extraordinary performance on asset quality as well as surprisingly low slippages of around Rs 5,500 crore bodes well for the stock markets attempt at reclaiming its record high.