Power stocks surge amid policy push to drive demand for energy
Analysts believe the favourable government policies for the sector, continued peak power deficits and the country’s shift towards clean energy will drive the re-rating of power stocks. Tata Power, NTPC, CESC, NHPC, and SJVN are among the preferred stock picks.
Improving order books draw FPIs to capital goods companies, weight at record high in August
Drawn by the burgeoning order books of capital goods companies, FPIs have invested close to $2.8 billion in the sector on a year-to-date basis accounting for nearly one-fifth of the total FPI inflow during the period. Barring one fortnight in the current year, FPIs have been net buyers in the capital goods sector.
Jio Financial’s exclusion from key indices deferred
“JFSL will now be removed from all the S&P BSE indices effective prior to the opening of trading on Tuesday, August 29, 2023. Should JFSL continue to hit the lower circuit in the next two days, the removal date will be deferred by another three days,” BSE said in a circular.