Skip to content
Research Capview Gaining Momentum – June 2023

Gaining Momentum – June 2023

Written by - Fisdom Research

June 16, 2023 3 minutes

Letter to investor

Dear Investors,

Greetings! We’re thrilled to bring you another edition of The Capview, brimming with exhilarating insights into the Indian capital market and economy, both of which are surging forward hand-in-hand.

Firstly, our external debt situation remains comfortable, allowing more fiscal room and stability. Inflation has also been kept in check, with Consumer Price Index (CPI) trends consistently remaining below the Reserve Bank of India’s upper limit.

The confidence of foreign investors in India’s growth story is evident in the rejuvenated Foreign Portfolio Investments (FPI) which have infused over Rs. 60,000 crore into our economy in the last three months. This has been paralleled by record-breaking domestic flows, with FY23 seeing the highest-ever inflows of Rs. 2.5 lakh crore.

Our position in the global economic landscape is further bolstered by our forex reserves, which currently rank fourth globally. This represents a strong buffer to balance the impact of any external shocks.

India Inc is also witnessing robust corporate earnings growth, consistently posting double-digit growth for the last eleven quarters. This is indicative of a healthy and vibrant corporate sector, boding well for continued capital market strength.

Macro indicators such as the public capital expenditure in India, government’s commitment to infrastructure development and job creation, which will stimulate further economic growth, and new project announcements have seen new highs during FY23 further underlining the positive business sentiment. We have also outperformed other countries in manufacturing growth.

Along with this the GST collections are demonstrating the resilience and recovery of the Indian economy. Additionally, the Market Cap to GDP ratio being below 100 suggests that the market is valued fairly and is not overpriced.

And finally, amid the global uncertainty due to the interest rate hikes and other geopolitical risks, the Indian rupee has shown tremendous resilience, further demonstrating the inherent strengths of the Indian economy.

In conclusion, we believe these factors bode well for a promising outlook for our economy and capital markets.

India’s golden era: unlocking a decade of incredible possibilities

Fundamental Tracker

Key Themes for FY24:

  • Capital Expenditure(Capex)
  • Energy Transition/De-carbonization
  • 5G Roll Out
  • Re-rating for banks
  • Mix of value & growth
  • Quality fixed income over credit

Media is cluttered; clear before you consume! If you can’t clear it, stop consuming the clutter at all!

Indian economy shows no signs of recession.

Source: Bloomberg, Kotak AMC, Fisdom Research

India’s forex reserves stand strong vs. global pack

Source: Wikipedia, Fisdom Research. The latest available number for each country has been considered

Download the full report to get the complete coverage

Download Full Report

Share the article

Get exclusive content and expert advice

Subscribe to fisdom to get regular updates in the finance world delivered to your inbox each month

Other Post

Periodic Report

Moil’s Impressive Growth, Renewable Energy Policy Shifts Impact Inox Wind &Suzlon, BHEL Surges on NTPC Project Approval and more

Periodic Report

Godrej: 62-acre Bengaluru project, NTPC: Rs 17,195.31 crore for Singrauli, SJVN: 200 MW solar Gujarat, Vedanta aims $3B debt cut.

The Signal

New Entertainment Behemoth Born!

Periodic Report

Aurobindo Pharma gains 4% on USFDA nod, Hero Motocorp up 1.56% in Feb sales, Asian Paints advances with new facility land.

Periodic Report

Paytm Bank fined, Infosys partners PROG Holdings, Disney-Reliance merger faces scrutiny, JSW Steel Italy relaunches Piombino plant.

Periodic Report

 ICICI surges, Paytm rises on board nod, Suven Pharma climbs, Dr. Reddy’s dips in US antitrust case


SEBI diktat on mid and smallcaps: MF positioning

Periodic Report

Adani sells Vizag Tech Park, Godrej boosts stake, Vedanta’s plea dismissed, TVS Motor acquires shares in Killwatt GmbH

Periodic Report

Suzlon Energy gains 4.98% with Gujarat project win, Lumax Auto up 6% on major deal, BEML shares dip 3.7% despite big order

Periodic Report

Reliance-Disney Media Merger, Coal India’s Joint Venture, PB Fintech’s Insurance Approval

Periodic Report

Asian Paints Decline, Vodafone Idea Fundraising Caution, and Zee’s Allegation Panel and more

Periodic Report

Vodafone Idea plans Rs 45,000 Cr fundraising, Titan acquires 0.36% stake in CaratLane, Patanjali faces SC notice, Baring PE exits CMS for ₹1,503.8 Cr.

Related Articles

Download one of India's best wealth management apps

Join more than one million investors and take control of your wealth

Download app