The share of state companies, which generally trail their privately run peers on valuations, surged to about 13% of India’s total market capitalisation in the 551 trading sessions the Sensex took to reach the latest milestone, reflecting the investor perception of a reforms-driven government agenda for state companies in industries as diverse as banking, insurance, infrastructure and manufacturing.
India beats a hasty retreat from a crucial market reform
India’s market-closing auction reform, designed by Sebi to curb price manipulation, has faced volatility and investor backlash within weeks. The regulator may weaken or abandon