Despite a weak start to 2023, 163 Indian companies with a minimum market capitalisation of Rs 1,000 crore have hit all-time highs year-to-date, according to data from Ace Equity analysed by ETMarkets. Industrial companies topped the list, followed by automakers and metal firms. Four of the Nifty 50 – ITC, L&T, Mahindra & Mahindra and Axis Bank – have scaled new records.
Memory stocks face headwinds as ‘smart money’ walks out
Memory stocks showed initial promise but are now faltering, weighed down by anxiety surrounding the artificial intelligence market. Sandisk and Western Digital reported declines, while