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CapEx boost by big PSUs

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smallcases Rebalanced

Thematic, model-based, sectoral & Smart Beta smallcases with a quarterly schedule have been rebalanced on December 13, 2019. These smallcases are now in mint condition. Rebalancing ensures the underlying idea of the smallcases remains intact.

You can apply updates to your invested smallcases and invest in rebalanced smallcases which are now fresher than ever.

1/3rd of all investments in 2019 flowed into Infra

Last week, Finance Minister Nirmala Sitharaman announced that 32 Maharatna and Navratna public sector units (PSUs) have undertaken a capital expenditure of ₹98,000 crores till November in the current financial year. These PSUs are expected to pump in ₹60,000 crores during the remaining part of the year.

Apart from this expenditure, railways and the ministry of road transport and highways are projected to undertake a CapEx of ₹2.46 trillion by the end of the month.

In an interview, Chairman of State Bank of India Rajnish Kumar confirmed that credit demand from the road sector, oil & gas sector and solar power projects was firming up.

In related news, according to IVCA – EY data, total PE/VC investments in India on a year-to-date basis stands at $44.2 billion, which is 1% higher than the previous high of $37.4 billion recorded in the entire 2018. One-third of all investments in 2019 has flowed into the infrastructure sector.

The Infra Tracker smallcase comprises construction & engineering, water management, cables, ports and cement companies to allow investors to efficiently track and invest in the infra sector.

Markets Update

Benchmark indices continued their upward movement during the week. After hitting fresh life-time highs for three consecutive days, the indices closed the week in green.

Nifty gained 1.53% since the previous Friday and ended at 12,271.8. During the same period, Sensex gained 1.64% ending at 41,681.5.

Wholesale prices in India rose by 0.58% year-on-year in November of 2019, accelerating from a 0.16% gain in the previous month and compared with market expectations of a 0.74% rise.

Data released last week showed that Consumer Price Index inflation jumped to 5.54% in November 2019 compared to 4.62% in October.

Abhishek Jadon

VP, Investment Products at Windmill Capital.

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