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Mint’s analysis reveals a net decline in promoter pledges across sectors including energy, infrastructure, IT, pharmaceutical, and retail.Jindal Stainless, Jindal Steel, Adani Power, Vedanta, Suzlon Energy, and Tata Motors witnessed significant decreases in pledged holdings in FY24
According to the report, of all the companies with equity shares listed on the NSE main board, the Big 6 Indian audit firms secured 637 assignments out of 1,961. This accounted for approximately 32.48% of the total, up slightly from 32.14% the previous fiscal year. Auditor details were missing for 47 organisations. A key standout has been the strong performance of Grant Thornton and MSKA affiliates who have established themselves as strong alternatives to the Big Four firms in audit business.
The indexs performance is also its second-best in the previous 10 years. Mid- and small-cap stocks were the top performers in the April-March period, while the financial year witnessed the resurgence of investment themes such as power, capital goods, and PSUs, which were mostly out of favour since 2008.
In comparison, the S&P 500, MSCI Emerging Markets, and MSCI EAFE (Developed Markets ex-US) have demonstrated an annualised growth rates of 15.4%, 6.1%, and 7.9%, respectively, during the same period.
The tech-heavy Nasdaq 100 gave investors total returns of around 21.5 percent over the past 10 years