Vibrant Gujarat, Prime Minister Narendra Modi's event showcasing Gujarat as an investment destination for over a decade, is likely to make its national debut as Vibrant India, said people in the know. The event is organised in January every alternate year. The last was held in 2013. According to sources, the next event is likely to be held in January 2015 in which all states are expected to participate and showcase investment opportunities in their respective regions. Since its inception, Vibrant Gujarat has become a very successful event. Last year, 21 Congress and BJP-ruled states participated in the event.
Still lot of juice left in PSU stocks
While there was heavy profit-booking in public sector stocks last week, market players say that there is still a lot of interest in them. Investors, including foreign institutional players, have started aggressively adding PSU stocks (ex-banking) to their portfolios because the new government is expected to end the policy paralysis that was prevailing in the past few years. Consequently, stocks such as NTPC, NMDC, and others have become favourite picks of many institutional players. Though the valuations of some of these stocks have gone up recently, there is a strong belief that there is still a lot of juice left in them.
GMO bullish on infra stocks
GMO, a foreign institutional investor managing $112 billion in assets, has been lapping up infrastructure stocks. In the past few weeks, it has struck four big bulk deals - two with J Kumar Infrastructure, one with Ashoka Buildcon and another with Gayatri Projects. While the value of these deals are slightly over Rs 50 crore, market players say it has also been buying in smaller quantities in many other companies.
