On 12 September, small and mid-cap stock (Smids) indices in India recorded their biggest single day fall of the year. And investors in these shares lost ₹5.5 trillion. But this hasn’t bothered Rohit Verma, a tech professional in his mid-50s with a big consulting firm, much.
“A 10% plus correction after such a stupendous rally in Smids isn’t abnormal. But I believe the structural story in areas like renewables is intact," Verma said.
A retail investor, who like most of his ilk hunts for eye-popping returns in the Smids space, Verma lapped up Inox Green Energy Services and KPI Green Energy sometime in April this year, when the current rally gathered pace. Since April, the Inox Green share has delivered an 85% return while KPI Green returned 60%.
Inox Green is a wind power operation and maintenance services company. KPI Green Energy is a solar power producer.
Verma doesn’t plan to offload his shares yet, but won’t add more. “For me, the alarm bells will ring only if there is across-the-board selling, an election upset, or if corporate governance issues crop up in a particular stock I hold, and I don’t envisage such events," he said.
By elections, he means India’s general election, expected to be held between April and May next year.
Bu hikaye Mint Mumbai dergisinin September 15, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Mint Mumbai dergisinin September 15, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
India in economic sweet spot, inflation to moderate: Moody's
India's economy is in a sweet spot and its inflation is expected to moderate despite a temporary spurt, Moody's said, projecting optimism about the country's growth prospects despite recent underwhelming data.
Incentive engine to drive modern ships
Subsidies for green, high-tech ships under ₹18,000 cr policy
Cement firms wage war on costs as competition soars
India's cement makers who once flexed their pricing muscles are caught in a bruising price war, eroding margins at a time of rising demand.
Saudi Arabia doesn’t have enough money for its futuristic city
The giant futuristic planned city of Neom is proving a headache for Saudi Arabia. Costs are up, schedules are delayed, and in recent days the world’s largest construction project replaced its chief executive of six years.
EV adoption is a marathon, not a sprint: Audi India
The slowdown in electric vehicle (EV) sales is temporary, and the industry will grow over time, Audi India head Balbir Singh Dhillon said, pointing to the need for extensive charging networks and supportive government policies.
India's trade gap with China soars in Apr-Oct
The country's green transition increases reliance on Chinese imports
14 nations eye India's generic drug model
Countries will specify their requirements, with HLL and MEA coordinating with them for the pharma exports
India urges $1.3 tn annual climate grant
Intervening on behalf of like-minded developing countries (LMDCs), India said that developed countries need to commit to provide and mobilise at least $1.3 trillion every year in the New Collective Quantified Goal (NCQG) till 2030.
Over 600 mn cyberattacks daily, AI can secure devices
Microsoft is developing a password-free authentication process to eliminate the risk of breaches
Small businesses ramping up cybersecurity, thanks to AI
Rising AI adoption is helping cybersecurity providers hike their marketable base in India
