Tag: now

Mirae Asset Investment Managers are bullish on India\’s economy, emphasizing growth prospects. Ankit Jain sees opportunities in midcap companies, consumer, and financial services sectors. Positive outlook despite stretched valuations, with focus on earnings growth and investment opportunities in various sectors. Jain says: \”The 1-year forward P/E ratio for Nifty stands at 22.5x, while for the Midcap 100, it is 24.5x, representing a premium of 12-15% over their respective 10-year averages.\”

Deven Choksey emphasizes individual stock investments over market view, focusing on sectors like IT, specialty chemicals, and pharma. He remains cautious on market exuberance and suggests strategic investments during corrections for long-term gains. Choksey says: \”The market is scaling up too quickly and too early, maybe that is where one is not fully comfortable.\”

Nestle India reported a 37% increase in net profit for the quarter ending September 30, 2023, reaching Rs 908.1 crore. Revenue from operations also rose by 9.4% YoY to Rs 5,036.82 crore. The company achieved a milestone of crossing Rs 5,000 crore in turnover for the quarter and recorded a double-digit domestic sales growth of 10.3%. Nestle India announced a second interim dividend of Rs 140 per share and approved a stock split.