FIVE Financial News

Is the Indian Market Index expensive? The easiest answer which comes to ones’ mind is “Yes”. Nifty is at all-time high and trading at ~20x one year forward, hence on an absolute basis in line with its last five years’ average. On a relative basis, it trades at a premium of ~88% to MSCI EM and 26% to MSCI World index, making India arguably one of the costlier markets. However, a) The Quality of Earnings and macro situation is not similar to India’s past b) Indices are not comparable to their historic past. The Indian economy is going from strength to strength with most economists increasing their estimates from 5-6% to 7-8%. If one were to add 4-5% as inflation, Nominal GDP could grow at 11-13%. India is adding US$ US$ 1 trillion in 3 years so assuming a MCap to GDP ratio it can add >US$ 1.25 trillion incrementally every 2-3 years, for the broader markets or over 10-15% p.a. The PAT as % of GDP to has increased from 1.9% lows in F2020 to over 5% currently and we will not be surprised if it doubles in the next 5 years if the profit growth is twice the GDP growth in a blue sky environment. Then one could argue of a higher MCap to GDP multiplier of 1.5-1.75 x. Our bottom up analysis in JM PMS estimates NIFTY 50 to grow at 15% plus p.a., with broader base contribution from many industries as against the financial industry historically. The indices have had material changes in the last decade, almost 17 stocks or 35% of the no. of stocks have been reshuffled in the Nifty 50, and in most cases the stocks which have entered are much higher PEs.

positive trend in the market, with the BSE benchmark surging 542.3 points or 0.75 percent. Five out of the top 10 most-valued firms collectively gained ₹1,99,111.06 crore in market valuation, buoyed by bullish sentiments. Reliance Industries (RIL) retained its position as the most-valued firm, followed by Tata Consultancy Services (TCS) , HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, Hindustan Unilever (HUL), ITC, State Bank of India (SBI), and the Life Insurance Corporation of India (LIC).

Reliance Industries emerging as the biggest gainer, in-tandem with bullish sentiments. Last week, the BSE benchmark jumped 542.3 points or 0.75 per cent. Benchmark equity indices Sensex and Nifty surged over 1 per cent to hit their fresh all-time highs on Friday.

Shaun Marsh on Sunday announced his retirement from all forms of cricket with Melbourne Renegades' final game of the BBL season against Sydney Thunder to be the last of his career. «I have loved playing for the Renegades, I've met some great people over the last five years and the friendships I've made will last a lifetime. This playing group is special.

Ardern steered New Zealand through natural disasters, the Covid-19 pandemic and the 2019 Christchurch mosque massacre. Ardern for the past six month has been undertaking three fellowships at Harvard University.

Union Civil Aviation Minister Jyotiraditya Scindia has said the Navi Mumbai international airport will be commercially operational by March 2025. The upcoming airport is not just an important infrastructure project for Mumbai or Maharashtra but is a project of pride for the entire nation, he told reporters on Saturday. He inspected the progress of the work connected to the airport, which is being built in five phases.

Ecuador prison officials taken hostage by inmates have been freed, the prisons authority said Saturday, as the country grapples with a brutal campaign of gang terror. The 24 guards and 17 administrative employees had been «released,» the SNAI prisons agency said without providing details, while 133 guards and three employees continue to be held hostage.

Why did Bengaluru CEO Suchana Seth kill her 4-year-old son? Here's what police say The estranged couple, currently undergoing divorce proceedings, engaged in what the police described as a "blame game" when they met face to face. Venkat Raman questioned Seth about the alleged killing of their child, expressing his anguish. According to police statements, Seth denied any involvement, stating she had not committed the crime.

Russian missile attack in the early hours of Saturday, its air force said, adding that Moscow had fired some of its most fearsome hypersonic missiles. Air defences shot down Russian missiles in at least five regions across Ukraine, according to local officials from those provinces. However, no details were given on whether any targets were hit, and far less information about the attack than usual was provided by officials. Ukraine's air force warned during the attack that Russia had fired Kinzhal missiles — perhaps the hardest conventional Russian missile to shoot down, moving at several times the speed of sound. Police in the northern region of Chernihiv posted a picture of a large crater made by a downed missile. «As a result of being hit by the debris of an enemy missile, several private homes and non-residential buildings were damaged, one building was practically destroyed,» the police wrote, adding that a dog had been killed but no people were hurt.

WELLINGTON: After almost five years of engagement and a postponement due to the coronavirus pandemic, former New Zealand Prime Minister Jacinda Ardern married longtime partner Clarke Gayford in a private ceremony Saturday. Details of the event were closely held by the pair, but the ceremony is reported to have been staged at a luxury vineyard in the scenic Hawke's Bay region, 325 kilometers (200 miles) from New Zealand's capital, Wellington.

2020 Tokyo Olympics bronze medal match — was it. India’s Olympics campaign had hit the wall and the team failed to make the final despite a brilliant effort. And the girls, understandably, were inconsolable. The men’s team was giving them a rousing ovation from the stands.

Maharashtra but is a project of pride for the entire nation, Union Civil Aviation Minister Jyotiraditya Scindia said here on Saturday. He inspected the progress of the work connected to the airport, which is being built in five phases. «The physical and financial completion is 55 to 60 per cent.

Bihar Chief Minister Nitish Kumar on Saturday asserted that his government was looking forward to not just achieving but «exceeding» the target of creating 10 lakh government jobs in the state. Speaking at a function organised for the distribution of appointment letters to newly recruited teachers, Kumar said his government provided appointment letters to 96,823 newly recruited teachers at all district headquarters in the state during the day. «Here at Gandhi Maidan, a total of 26,935 newly recruited teachers are getting their appointment letters.

Maldives President Mohamed Muizzu said on Saturday that China, largest external creditor to the country, has agreed to consider restructuring the repayment of loans taken by his country and the governments will initiate negotiations soon. He told the media in Male after his return from a five-day high-profile state visit to China that he has directly appealed to Chinese President Xi Jinping to restructure the loans provided to the Maldives. He said that the loans were direct loans and that a technical team from China's Finance Ministry will travel to Maldives soon «to research and decide the way to offer a grace period in loan repayments over next five years, Maldives news portal Sun online reported.

ministry of labour and employment has reconstituted the central board of trustees (CBT) of the Employees’ Provident Fund Organisation, two months after the tenure of the last board came to an end in November 2023. The CBT is constituted for a period of five years and the last board was notified on November 9, 2018.

MOSCOW (Reuters) -A huge fire tore through a warehouse belonging to one of Russia's biggest online retailers in St. Petersburg on Saturday, the Ministry of Emergency Situations said, saying firefighters had succeeded in halting it spreading further.

global support for India's permanent membership at the United Nations Security Council (UNSC), External Affairs Minister S Jaishankar said that sometimes things are not given generously and one has to seize it. «With each passing year, the feeling in the world is that India should be there, and I can feel that support...The world does not give things easily and generously; sometimes you have to take them,» the EAM said on a question regarding a permanent seat for India at the UNSC. The EAM was speaking at 'Manthan': Townhall meeting in Maharashtra's Nagpur. Jaishankar then pointed that India which has showed the capability of conducting a successful G20 presidency, that brought out " New Delhi Declaration" despite of diferences within the member nations,will contribute in the UNSC. «If a country has such a capability, such a country in the UNSC can actually contribute as well,» he added. On the relevance of the UN, the EAM said that in many ways, the limitations of the UN are now showing and that the organisation used to be more relevant in the 1950s-60s. United Nations (UN) is getting more and more ineffective in confronting key issues, he said, «The UN used to be more relevant in the 1950s-60s, but as the number of country's grew, it was easier for the permanent members to dominate the smaller countries.

commerce ministry has called a high-level inter-ministerial meeting on January 17 to discuss the way forward on the trade front in the wake of ongoing problems in the Red Sea, a senior official said on Saturday. Senior officials from five ministries — external affairs, defence, shipping and finance (department of financial services) and commerce — will participate in the deliberations. The commerce ministry has also set up an internal strategic group, comprising additional secretaries of the ministry, to discuss global issues impacting the country's trade on a daily basis and prepare a strategy so that India's response can be quick and decisive.

Nagaland becoming the latest of the 17 states and Union territories to have detected its presence, according to INSACOG on Saturday. Data compiled by the Indian SARS-CoV-2 Genomics Consortium (INSACOG) showed Karnataka has reported the highest number of JN.1 cases at 215, followed by Andhra Pradesh (189), Maharashtra (170), Kerala (154), West Bengal (96), Goa (90), Tamil Nadu (88) and Gujarat (76).

DMart Q3 Results: Ace investor Radhakishan Damani-backed Avenue Supermarts which operates the retail chain DMart, announced its October-December quarter results for fiscal 2023-24 (Q3FY24), reporting a rise of 17 per cent in its consolidated net profit at ₹690.61 crore, compared to ₹589.68 crore in the year-ago period. The hypermarket chain operator reported a 17.31 per cent rise in consolidated revenue from operations at ₹13,572.47 crore, compared to ₹11,569.05 crore in the corresponding period last year. The company's basic earnings per share (EPS) for the December quarter stood at Rs.

By Tim Reid, Nathan Layne and James Oliphant