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Time of India
01-07-2025
- Business
- Time of India
Investors seek safety in large-caps amid global uncertainty in H1 2025
Indian equity investors have favoured large cap companies in the first six months of the year—which saw high market volatility amid multiple geopolitical tensions , erratic energy prices, and imposition and later pause of reciprocal tariffs by the US. Agencies The mid- and small-cap benchmark indices, which gained 4% and 0.3% in the first six months, respectively, have largely underperformed the Nifty and Sensex in the January to June period this year compared with double-digit returns in the same period last year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now On the sectoral front, the Nifty Defence index made a comeback amid rising IndoPak tensions, after taking a beating in the first two months of the year. It was the top performer in the first half, followed by capital markets and financial indices . Agencies Nifty IT index was the top loser during this period. Defence company Garden Reach Shipbuilders almost doubled in the sixmonth period and emerged as the top gainer of the Nifty 500 index. Agencies After facing intense competition and falling volumes, Ola Electric shares declined the most at 50%. The IPO rally of 2024 also cooled down in the first six months of 2025, with 23 companies raising Rs 31,470 crore from the primary market so far, down from 60 companies which raised Rs 1.3 lakh crore in July-December, 2024.
Mint
24-06-2025
- Business
- Mint
BEML, GRSE to Zen Tech: Defence stocks fall over 6% on signs of de-escalation in Israel-Iran war after ceasefire
Defence stocks in focus today: Defence stocks including BEML, Paras Defence, Garden Reach Shipbuilders, Cochin Shipyard and HAL came under selling pressure in Tuesday's trade, June 24, after having remained in high-flying mode in recent sessions on the Indian stock market amid rising tensions in the Middle East. However, as signs of de-escalation between Iran and Israel appear to be emerging, investors chose to book profits in these counters. Seventeen out of eighteen constituents in the Nifty Defence index began the session in the red, dropping up to over 5% in early trade. BEML was the top laggard, falling 6.4% to hit an intraday low of ₹ ₹ 4,481, while Garden Reach Shipbuilders was the second-biggest drag, slipping 5.2% to ₹ 3,313 apiece. Other major defence stocks, including Mishra Dhatu Nigam, Astra Microwave, Paras Defence, Bharat Dynamics, Data Patterns, Zen Technologies, Unimech Aerospace, and Cochin Shipyard, also declined over 2%. The broader fall led the Nifty Defence index to crack 2.2%, hitting a day's low of ₹ 8,868, marking its second-biggest intraday drop in June so far.
Mint
13-06-2025
- Business
- Mint
Israel-Iran war buzz: Defence stocks rally despite weak market sentiments; Ideaforge up 8%
Israel-Iran war buzz: The Indian defence companies saw a significant rally in Friday's trading session despite stock market crash, following a wave of military strikes by Israel on Iran, concerns about a wider conflict have resurfaced, prompting increased investor interest in defense-related companies. Shares of Ideaforge Technology surged by up to 8.1 per cent on the BSE, reaching ₹ 599.60, emerging as the top gainer among Indian defence stocks. Meanwhile, Bharat Dynamics share price rallied 4.6 per cent to ₹ 1930.40 on July 13. Shares of Garden Reach Shipbuilders rose by 6%, while Zen Technologies and Cochin Shipyard are up by 4% to 5%. Other defence stocks like Paras Defence, Hindustan Aeronautics (HAL), Bharat Electronics (BEL) shares were also up between 1-3 per cent. As of 09:30 AM, the Nifty India Defence index was the only sectoral index in the green, rising 0.6 per cent, while the Nifty 50 dropped 1.1 per cent. Earlier today, Israel carried out targeted attacks on Iran's nuclear facilities, resulting in several casualties. In response, Iran has pledged to retaliate, with reports suggesting that it has launched as many as 100 drones toward Israel. In the early hours of Friday, Israel carried out a "preemptive strike" on Iran's capital, Tehran, according to Defence Minister Israel Katz. Loud explosions were reported across the city that morning. 'Moments ago, Israel launched Operation Rising Lion, a targeted military operation to roll back the Iranian threat to Israel's very survival. This operation will continue for as many days as it takes to remove this threat," Israel's Prime Minister Benjamin Netanyahu was quoted as saying in a video message. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
04-06-2025
- Business
- Mint
Multibagger defence stock GRSE hits fresh high on pact with Norway-based Kongsberg, up 100% YTD. More upside on cards?
Multibagger defence stock Garden Reach Shipbuilders (GRSE) surged over 7% in intra-day deals on Wednesday, June 4, to a fresh high following an order win from Norway-based Kongsberg. This agreement between Norway's Kongsberg and GRSE will pave the way for India to build its first-ever Polar Research Vessel (PRV) indigenously, according to an official statement. "The MoU between GRSE and Knogsberg marks an important milestone for India's shipbuilding sector as it will receive design expertise for developing the PRV, while taking into account the requirement of National Centre for Polar and Ocean Research (NCOPR), who will use it for research activities in the polar and southern ocean realms," the statement said. GRSE, with its rich experience of constructing complex maritime platforms like warships, survey and research vessels, will build this PRV in its yard in Kolkata, ensuring a boost to the government's Make In India initiative, it added. The defence public sector undertaking (PSU) stock opened the day at ₹ 3184, higher than its last close of ₹ 3149.90. It gained further to scale a new high of ₹ 3374, an upside of 7.11%.
Economic Times
02-06-2025
- Business
- Economic Times
Smallcap stocks are doubling money like it's 2024 once again. Should you jump in?
Money is doubling fast and it's not in the Sensex or Nifty. Smallcap stocks are once again stealing the spotlight in Indian markets, posting a stunning rally that has investors rushing back into the segment. ADVERTISEMENT The BSE Smallcap Index has jumped 21% in just three months, comfortably outpacing the Nifty's 12% gain in the same period. Several individual names have delivered astonishing returns — NACL Industries has soared 192%, while Garden Reach Shipbuilders (GRSE) is up 147%. Stocks like Suven Life, Centum Electronics, Cosmo First, Bharat Dynamics, Zen Tech, and Mangalore Chemicals have either doubled or come close. The smallcap momentum is unmistakable and it's being powered by both macro conditions and strong flows, just like what Dalal Street saw in 2024. 'We firmly believe that over the long-term in a growth economy like India, smallcap stocks could outperform largecaps,' said Venugopal Manghat, CIO – Equity at HSBC Mutual Fund. 'Smaller companies tend to thrive in expanding economic cycles leading to higher earnings growth. The environment is conducive — low inflation, falling interest rates, improving liquidity and strong tailwinds in manufacturing, infrastructure and financialization.'A mix of economic recovery, liquidity inflows and earnings optimism is fuelling the rally. But alongside the euphoria, voices of caution are growing louder. Also read: Don't ignore smallcaps: HSBC MF CIO on where growth lies in FY26 ADVERTISEMENT 'Despite the sharp upmove recently, largecaps currently offer a better balance of earnings visibility and valuation comfort on a forward-looking basis,' warned Krishna Appala, Fund Manager at Capitalmind PMS. 'The divergence between earnings and valuations in the broader market calls for greater selectivity. The environment today rewards fundamentals and discipline over broad-based exposure — especially when mid and smallcap multiples leave little room for error.'Indeed, valuations are no longer cheap. Trideep Bhattacharya of Edelweiss estimates that 'mid and small caps are trading at a 17% to 25% premium to their 10-year averages.' He emphasizes the importance of being selective: 'We advise that where there is a valuation premium, it must be matched with an earnings growth premium. Stocks with faltering growth but high valuations are in the penalty box.' ADVERTISEMENT Bhattacharya also advocates tailoring investment strategy to individual risk appetites: 'For conservative investors, we recommend flexicap funds. For moderate risk-takers, multicap funds. And for those with higher risk appetite and a 5–10 year horizon, midcap funds are ideal.'Fundamentals are showing signs of support. Some sectors posted better-than-expected numbers in the March quarter. 'There were a few pockets where Q4 results exceeded expectations,' said Sneha Poddar of Motilal Oswal. 'Raw material prices remained stable, global demand was supportive, and FMCG companies managed weaker urban demand with price hikes. Overall, demand wasn't as weak as feared.' ADVERTISEMENT Also read | Smallcap mania is back. But do Q4 earnings really justify the multibagger hype? Still, market veterans warn that the easy money may already be made. After a relentless three-month rally, the risks of overpaying in the smallcap space are rising, particularly in stocks where future earnings may not live up to the newly inflated real test now lies in sustainability. Will earnings keep pace with valuations? Will global liquidity remain supportive? And perhaps most importantly, will investors stay disciplined when the next correction hits? ADVERTISEMENT 'The divergence between earnings and valuations in the broader market calls for greater selectivity. The environment today rewards fundamentals and discipline over broad-based exposure — especially when mid and smallcap multiples leave little room for error,' Apala said. For now, the fireworks in smallcaps are lighting up investor portfolios. But those looking to join the party now may need to tread carefully. In this market, growth and discipline, not just price charts, will separate the winners from the rest. (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
