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Upgrades are seen in PSUs, pharma and auto companies in the last few quarters, but there have been disappointments in sectors like consumer staples, IT services and metals
Upgrades are seen in PSUs, pharma and auto companies in the last few quarters, but there have been disappointments in sectors like consumer staples, IT services and metals
Foreign investors who have been largely sellers of Indian shares for the second straight month in May, led Thursday's rally. Market experts believe the rally could continue over the two weeks leading into the Lok Sabha election results on 4 June.
Analysts see room for more gains in the stock on expectations of a tariff hike, higher average revenue per user (ARPU) - a measure of earnings generated from each user - and lower capex.
Consumer spending (after GST) on mobile services rose 2.5% sequentially to around Rs 54,750 crore during the period —the third quarter of FY24 — as per the latest sector performance data released by Trai. In the fiscal second quarter, this growth was 1.84%. Spending on data was Rs 47,560.3 crore, up 3.4% from the previous quarter when the sequential growth was 3%.