Thursday, October 15
The recent ferocious rally in defence stocks post the recent skirmish is yet another example of greed or FOMO taking over the rational investing behavior, says Atul Bhole, EVP & Fund Manager, Kotak Mahindra Asset Management Company."Since Operation Sindoor, defence stocks bounced back significantly and are again trading at much higher valuations than can be justified by fundamentals. While companies could deliver sustainable growth over many years, the street seemed to have factored in a lot, in a very short period. Hence there can be some cooling-off or longer consolidation in stock prices," he said in a chat with ET Markets.Edited excerpts:Markets are dancing near lifetime highs. How much of this is driven by fundamentals and how much by FOMO?India’s macro fundamentals are in a rea
Health officials are keeping a close watch as Covid-19 cases slowly rise in parts of India, at a time when countries like Hong Kong and Singapore are also seeing more infections.Although the total number of cases is still low compared to earlier waves, cities like Mumbai, Chennai and Ahmedabad have seen a noticeable increase.Mumbai Sees Cluster of CasesMumbai has reported 95 new Covid-19 cases in May, according to the Maharashtra health department. This is a sharp jump, as the state has recorded just 106 cases since January.Currently, 16 people are in hospital, with many being moved from KEM Hospital to Seven Hills Hospital to stop the spread of infection.Health workers are now testing all patients showing flu-like symptoms or severe breathing problems for Covid-19.Pune on Alert, But No Ac
