Consumption took centre stage, while some sectors got more attention than others. But Nirmala Sitharaman’s budget failed to enthuse the markets.
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Vijay Shekhar Sharma has focused on improving compliance, cutting costs and recovering market share after the RBI shut down his payments bank last year. The fintech major is yet to recover to its earlier highs, but its turnaround is gathering momentum.
Picking Zomato and Jio Financial Services for inclusion in the benchmark index is part of a larger trend where NSE opts for expensive stocks. Meanwhile, cheaper Chinese equities beckon investors.
The P2P lending platform is the only one that is still doing substantial business after the central bank tightened the rules last August, virtually shutting down the sector. It has carried on as though the new rules don’t exist.