The word on the street is that the market is fueled with bullishness. While some are rejoicing the bull run, the others are waiting for it to end so they can make bumper profits. In either case, the truth is nobody can time the market. Enjoy the ride while you can! Joining the ride are India’s some of the biggest conglomerates, making investors richer with each passing day.
Bulls Riding The Market
Two weeks earlier, global head of equity strategy at Jefferies Christopher Wood said that the structural bull run in India remains intact. He further said that the job generation is promising in India, and so is the spending cycle. Economy is steadily coming back into shape, and this has benefitted the market big-time. The Sensex and Nifty indexes, representing the Indian stock market performance, have rallied to their all-time high levels showcasing the enthusiasm among investors.
Moreover, the never-ending IPO pipeline further cements the fact that India is indeed in the phase of a bull-run.
‘Trillion Market Cap’ Mode On
The business media channels are hooked on to the Titan’s trillion mark today. The company crossed Rs 2 trillion mark on the back of a strong recovery in its Q2 earnings. This was enough to fill ace investor Rakesh Jhunjhunwala’s pockets, who made around Rs 800 crore profit today. Moving on, the ‘trillion’ race was introduced by Reliance Industries, which hit Rs 17.46 lakh crore market capitalisation just two days back. Joining the race are Tata Motors and ONGC, who hit a record-high market cap.
One point to be noted here - the primary reason behind these companies hitting a trillion market cap is due to their business developments. For instance, ONGC’s shares rose due to the rising domestic gas supply. The crude oil hit a three-year high, thus marking a huge profit for ONGC’s investors.
Trending Of All
Titan remained trending in the market, after the company reported a 78% YoY revenue growth during the July-September quarter. The stock hit the market cap of Rs 2 trillion, which remained another trigger for the share rise. The company in its quarterly business update, stated that most of the stores are fully operational. It is currently working on its retail network expansion. All these factors were enough to drive the stock high.
Will This Race Continue?
Possibly. As long as the bull run continues and the liquidity in the market is flooded, Indian companies will continue to surpass such record-breaking paths. While inflation is burning a hole in common people's pockets, it’s helping companies to bear their input costs. This will only help them to expand their business after a two-year long lull. So while we are at it, let’s enjoy the ride!