The trailing 12-month EPS of the Nifty50 has risen just 2.8 per cent sequentially during the quarter. Further, earnings are still down 14.5 per cent year-on-year (YoY)
Earnings contraction, coupled with poor return on net worth (RoNW), weighs on the stock valuation of these PSUs
Market cap of government companies has remained unchanged in the past 8 years
Mobility and traffic congestion see a drop
Improvement in goods carried moderated shows latest rail data
BSE-listed companies' market capitalisation reached Rs 197.7 trillion on Thursday, against India's nominal GDP of Rs 190 trillion during 12 months ended December 2020
Even as index firms' earnings and RoE 20% below pre-Covid high
Other indicators such as traffic and mobility, have been more resilient
Combined net profit of 50 index firms estimated at Rs 1.14 trillion, led by commodity producers
Telcos have rallied 28% and 25%, respectively, since October 1, 2020
Rally fuelled by global rise in iron prices; stock trading at P/E multiple of 13x
Created 7 billionaires in 2020; now 17 super-rich promoters in the sector with combined wealth of Rs 4.35 trillion
Monday morning traffic is still over 40% below 2019 levels in key cities
Export subsidy announcement a positive but high valuation could restrict gains
Salary bill of firms below top 200 in net sales was down 10.3% in H1
Workplace visits are rising again
Based on current valuation ratio of listed holding companies, Tata Sons now valued at Rs 5.08 trn
BSE FMCG Index is up 7.3% since Nov end, against 4.1% rally in Sensex
Power generation was up four per cent on average on year-on-year basis during the week ended December 7, indicating a rise in energy demand from the commercial and household sector
Metal & mining firms to gain; others may see margins contract