The latest BT500 research report properly reflects the current market emotions, as the total valuation of the top 500 companies on the list has increased.But the increase is not as amazing in 2022, reflecting the emotions of investors
A strange thing happened in the second week of October.After experiencing a strong September, the Indian stock market fell into a downturn. The benchmark Standard Base Sensex Index and the Nifty 50 Index all reached their respective historical highs in September.
Although India’s domestic stock market faces anti -winds due to geopolitics and macroeconomic concerns, Global Financial Giants Lyon Securities (CLSA) said that due to strong credit stimulus, improvement of external balance, GDP and earnings per share (EPS), increased profitability to increase profitabilityAs well as factors such as macroeconomic prospects, the company is raising its investment portfolio in India.When Lyon Securities made a bullish speech, there was a trace of optimism in this pessimistic month.October is the worst month in fiscal 2023, and the Sensex index fell nearly 3%.
What is the reason for this dual -point method? In short, the Indian stock market is witnessing the convergence of an emotion -the continuous beliefs and short -term fluctuations of long -term growth stories have increased, leading to an increase in uncertainty in the investment community.
Compared with last year, the cumulative valuation growth of 500 companies with the largest market value has slowed down this year. Although there are more companies with rising market value compared to companies with a valuation shrinking.Some large companies on the business rankings, although their revenue and profits are rising, the valuation is declining, which reflects the uneasy emotions of investors.
However, the business list is not only the list of the largest companies; it has also studied the performance of these companies in important indicators such as income, profit, debt and other financial ratios.The ranking is based on the average market value of the 12 months from October 1, 2022 to September 30, 2023.Kolkata Stocks
In general, the comprehensive average market value of the company on the list of business lists this year was 2.61.53 trillion rupees, an increase of 4%compared with 25.1333 trillion last year.More importantly, this is far lower than the increase in the average market value of 26%of the total market value of the Fortune 500 companies last year.
However, it is important that, at the time of the almost leveling of the valuation, the Sensex index continued to innovate -during the business list research, the index rose nearly 15%, that is, about 8,400 points.In addition, although the market value of more than 300 companies has risen in this year’s business list, more than 50 companies have increased their profits in 23 fiscal years over the previous fiscal year, but the stock price has risen slightly.Essence
Another interesting trend this year is about the new entryrs. Compared with last year’s research, most new entrants are much smaller.But first of all, let’s take a look at the top companies, including the most promising companies in Wall Street -these companies have been the most popular companies for many years -although the valuation of some large companies has declined, and the early scale is smallA lot of companies surpass.
The top three rankings of the business list have not changedNew Delhi Stock Exchange. Xinshi Industry Co., Ltd. (RIL) tops the list, followed by Tata Consulting Service Company (TCS) and HDFC Bank.During the report, the average market value of this private sector bank increased by 19.4%, while the valuations of the other two banks decreased.
At the same time, the Indian Industrial Credit Investment Bank (ICICI Bank) jumped two places this year, ranking fourth, ranking among the top five, and Fast Consumer Giant India, India, Lianlihua (HUL), ranked fifth.Followed by Infosys and the National Bank of India (SBI), ITC was squeezed into the top ten, ranking eighth; fast consumer products ranked 13th in 2022, and its valuation rose increase54.3%.Bharti Airtel and Bajaj Finance are ranked 9th and 10th, respectively.
In terms of valuation, four of the top ten companies -RIL, TCS, Infosys, and Bajaj Financial, their respective market value, have declined, although the total valuation of these 10 companies has increased by 6%.Insurance Giant Life Insurance Company (LIC) made a high -profile appearance in the 9th place in 2022. It ranked 11th this year, with a valuation of 10.8%.
Another interesting trend is the performance of the Adidi Group’s company.Last year, the market value of most group companies has increased significantly, but this year, except for Adani Enterprises, Adani Power, and Ambuja Cement, the valuations of other companies have decreased.Therefore, the ranking on the business list has declined.
This year’s business list is an obvious trend. Why is the valuation growth slow? Market participants attribute it to various factors, including soaring crude oil prices and geopolitical concerns."People have always worried about crude oil prices at R. Venkataraman, chairman of IIFL Securities. Although the price of Brent crude oil has returned to $ 80, it was still more than $ 85 recently. Since India is a major crude oil importer, these levels have begun to make these levels began to orderMarket concerns. "He explained that crude oil prices soared because of the deterioration of geopolitical situations, and the war between Russia and Ukraine continued, and the conflict between Israel and Hamas was intensified.He added: "In addition, the Fed initially published another longer high -time remarks that led the market to plummet and then changed to a more gentle position. There are not many worrying Indian specific economic factors, but for the Indian peopleThe party cannot get obvious concerns of a majority of seats in the election next year. "
This also explains that over the years, more importantly, in recent years, the country’s market value to GDP has changed impermanence.A recent report of Motilla Oswal Financial Services emphasizes this trend and pointed out that this ratio has decreased from 113%and 103%of fiscal year in the 22nd to 95%in fiscal year.According to the analysis of the domestic brokerage profession, in the current fiscal year, this ratio is 107%, a long -term average of about 80%.
In addition to valuations, the research on the business list also put forward interesting opinions on the overall health status of the country’s largest company.For example, 47 companies in the business list this year have more than double the after -tax profit (PAT) of the 23rd fiscal year.However, this is lower than last year’s research, and there are 77 examples last year.
Some well -known enterprises have doubled in PAT in the 23rd fiscal year.On the other hand, SAIL, BPCL, Tata Steel, JSW Steel, Glenmak Pharmaceutical, Kings Steel and Electric Power, Gail (India), Indian Petroleum Corporation, ACC, NMDC and Wenda TowerCompared with the 22nd fiscal year, it has decreased significantly.
"The 23rd fiscal year is the strong profit of cars, capital goods, NBFC, insurance companies and banks, and tires, real estate and other industries.With the impact of global currency tightening in 2022 and 2023, it will affect the profit growth of Indian companies, and the Indian industry is expected to further slow down. "
On the other hand, the cumulative debt of BFSI before the business list was 3.3334 trillion in T on to fiscal year, while cash and bank balances were close to 80 trillion rupees.Some companies with the greatest increase in debt levels include Sun Pharma, TV18 Broadcast, Hindustan Zinc, BIOCON, JSW Energy, Network 18 Media & Investments, Gail (INDIA), and Aurobindo Pharma.At the same time, DLF, Mangalore Refinery & PetroChemicals, INDUS TOWERS, Adidan Power, Tata Chemical, Tata Automobile, Apollo Tire, and Adidan have reduced absolute debt in the 23rd fiscal year.
As far as the largest debt volume (excluding BFSI) is concerned, Xinshi has topped the list with nearly 3.14 trillion rupees, followed by NTPC (2.2 trillion rupees), Vodafone India (2.02 trillion rupees), and Batty Telecom (166 trillion rupees) and Indian Petroleum Corporation (1.4 trillion rupees).
However, among companies with the highest total income, Ril and Indian Petroleum also occupy the top two respectively.The total revenue of RIL and Indian Petroleum in 23 fiscal year was 89.1 trillion rupees and 8.46 trillion rupees, respectively. Both were stronger than the 22nd fiscal year.
The research on the business list has captured important indicators every year, and it also provides insights on those companies with serious losses.It is not surprising that there are many digital giants in the new era on the list of companies with the largest losses.For example, Paytm’s parent company ONE97 Communication Co., Ltd. had a net loss of 1.777 billion rupees in the 23rd fiscal year, although below 2.396 billion rupees in the previous fiscal year.Deliveroo, Zomato and PB Fintech (PolicyBazaar) are also among the best on the list of business list companies, although their losses in 23 fiscal year have declined.In addition to these companies, old -fashioned economic companies in the fields of energy, infrastructure and public utilities also appear on the losses list.
However, in general, only 30 companies in the BT500 list are in a state of losing money, which clearly shows that whether it is the research or Indian company, there are strong fundamental companies for investors to choose from.This is of great significance because experts believe that although the stock market is facing backwind, there are many smooth winds.
"The flow of funds in emerging markets will remain unstable, and India may continue to have outflows of funds. But for us, the mid -term prospects seem to be very goodHyderabad Stocks. Maybe more than ten years later, as inflation cools down, the Fed has 550 basis points loosely loosely.Ability, which is a good sign for global liquidity, interest rates and economic growth, "Vencatraman said.He added that India will also benefit from strong geopolitics.He said: "In general, all these factors are positive." He added that the result of the upcoming election is still the biggest risk facing the market.
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