Page 21 - Patel Engineering News Today : Breaking News, Live Updates & Top Stories | Vimarsana

After a sharp outperformance in the mid-and small-cap segments in the first half of calendar year 2023 (H1-CY23), analysts are now turning cautious on these two market segments and suggest investors stay selective and look for valuation comfort and earnings visibility before investing. The S&P BSE Midcap index has surged 13.7 per cent in H1-CY23, and the S&P BSE Small-cap index gained 12.7 per cent during this period, data shows. The S&P BSE Sensex, in comparison, has moved up 6.4 per cent.

In the June quarter the benchmark BSE Sensex advanced nearly 10 per cent, while the BSE Midcap and BSE Smallcap jumped 19.57 per cent and 20.94 per cent, respectively.

The company is majority public owned with 55.79% stake, while promoters own the remaining 39.41%. Among public shareholders, mutual funds have no stake, while foreign investors own a marginal 2.38%.

Litigation Head at Reliance industries limited, Hiten Sampat has quit to join Patel Engineering Ltd as General Counsel.

Vijay Kedia, has sold his shares in Canara Bank, Federal Bank and BOB to invest in midcap illiquid stocks. He also disclosed his investment in airline stocks, particularly IndiGo, which he believes is a sunrise industry despite the unpredictable cost of oil. Kedia remains invested in Vaibhav Global despite a 70% fall from its highs, citing his investment approach of chasing the story behind a stock rather than focusing on money. He also highlighted the emergence of infrastructure companies as a new sunrise industry.