BEL Share Price: BEL rises 0.38% as Sensex slides
The stock traded at a P/E multiple of 40.48, while the price-to-book value ratio stood at 5.14.
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The stock traded at a P/E multiple of 40.48, while the price-to-book value ratio stood at 5.14.
The rejig exercise will also see significant inflows in six other stocks viz. NTPC ($66 million), Power Finance Corporation (PFC, $45 million), REC ($43 million), Mahindra & Mahindra (M&M, $42 million) Bharti Airtel ($26 million) and Indian Railway Finance Corporation (IRFC $23 million).
NTPC's weight on the Nifty CPSE is expected to go up 20% versus the current weight of 17.9%. As for NHPC and NLC, the new weights post the readjustment will likely be 4.6% and 1.2%, respectively, versus 4.2% and 0.9%, now.
In today’s edition of Pro Panorama: A long-term value play, India’s pandemic readiness, life gets harder for forgings exporters and more
Dharmesh Shah, Head-Technical at ICICI Direct, suggests viewing PSU corrections positively as buying opportunities. He also anticipates that Nifty momentum will sustain and has a positive outlook on Nifty auto index and Maruti. He further recommends accumulation in the IT sector for medium-term gains as he expects a gradual recovery in the IT index.