ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • India
    • Economy
    • Politics
    • Markets
  • World
    • Economy
    • Politics
    • Markets
  • Companies
    • Auto
    • Banking & Financial Services
    • Pharma
    • Energy
    • Infrastructure
    • Media
    • IT
    • Telecom
    • Consumer Products
    • Aviation
    • FMCG
  • Personal Finance
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
  • Mutual Funds
  • Technology
  • Automobile
    • Cars
    • Bikes
  • Small Business
    • SME
    • Startups
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
    • AUTHORS
Home » India News

Hopes of Modi's focus on small companies send shares soaring

Last year, the government had allocated Rs 3300 crore to MSME sector, the highest amount any sector has received.

  • Twitter
  • Facebook
  • GPlus
Hopes of Modi's focus on small companies send shares soaring
Nifty50, in April-May of 2014 hovered around 6700-mark. Photo: IANS
By Hitisha Jain
Updated: Wed, Sep 21, 2016
04:10 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
NSE gets Sebi nod to launch weekly options on Nifty 50 index NSE gets Sebi nod to launch weekly options on Nifty 50 index
Assembly election results: BSE Sensex closes 190 points up at 35,150; Nifty50 surges 61 points at 10,549 Assembly election results: BSE Sensex closes 190 points up at 35,150; Nifty50 surges 61 points at 10,549
Indian equities to seek direction from macro-data, global cues next week Indian equities to seek direction from macro-data, global cues next week
Sensex closes below 34,000, Nifty fails to hold 10,500 Sensex closes below 34,000, Nifty fails to hold 10,500
Indices recover, yet remain below previous day's close  Indices recover, yet remain below previous day's close

Prime Minister Narendra Modi's efforts to revive India's small and medium enterprises (SMEs) has had its impact--atleast on the stock market. 

S&P BSE MidCap and SmallCap have comprehensively outperformed the broader Indian stock markets since Narendra Modi took oath as India's prime minister in 2014. 

Winning the election on the agenda of development, the Government has done some work to improve business efficiency of small industries and traders. Schemes, especially, MUDRA (Micro Units Development & Refinance Agency Ltd), have been designed to aid SME sector have been introduced. 

Last year, the government had allocated Rs 3300 crore to MSME sector, the highest amount any sector has received.

Clearly, markets anticipate that going forward, MSME which accounts for over 37% of the GDP and over 42% of total exports, will play a bigger role in India's economic growth.  

Nifty50 is currently trading at a near 18-month high, crossing 8,900-mark last week before retreating. However, S&P BSE MidCap has gained 85% and since May 2014, the S&P's SmallCap index is up over 80%. 

Nifty50, in April-May of 2014 hovered around 6700-mark.

According to the data available, the S&P BSE Small-cap index which was trading around 7,200-mark on 1 April, 2014, presently, it is trading at 12,797.66, a jump of 80%. 

While, the S&P BSE Midcap Index, which was trading at 7,198 during Modi's election period, has now crossed 13,000-mark, registering a rise of 85.16%.

According to the Ministry of Micro, Small and Medium Enterprises (MSME), last year, PM Modi had said, "While many think that large companies dominate, in reality, it is over 5.5 crore (55 million) small units like yours (MSMEs), which drive our economy through small, manufacturing, trading and service businesses…You (Ministry of MSME) should be able to run your business easily, not be harassed by officials, and get loans for your day-to-day activities, material for your operations and markets for your product.”

TAGS:
Nifty50S&P Small CapS&P Mid CapSensexNarendra ModiMicro Small Medium EnterprisesMarkets
RELATED NEWS
NSE gets Sebi nod to launch weekly options on Nifty 50 index NSE gets Sebi nod to launch weekly options on Nifty 50 index
Assembly election results: BSE Sensex closes 190 points up at 35,150; Nifty50 surges 61 points at 10,549 Assembly election results: BSE Sensex closes 190 points up at 35,150; Nifty50 surges 61 points at 10,549
Indian equities to seek direction from macro-data, global cues next week Indian equities to seek direction from macro-data, global cues next week
Sensex closes below 34,000, Nifty fails to hold 10,500 Sensex closes below 34,000, Nifty fails to hold 10,500
Indices recover, yet remain below previous day's close  Indices recover, yet remain below previous day's close

LATEST NEWS

Gully Boy box office collection: Ranveer Singh-Alia Bhatt film enters Rs 100-crore club

RRB NTPC Recruitment Notification 2019: Check salary, qualification, application fee, age limit, reservation details for 1.3 lakh posts

Loan against LIC policy: Get money fast at very low interest rate

Experts explain: Why VPF is a good investment option for retirement planning

India is one of the fastest-growing emerging markets for Airbnb: Blecharczyk

Zomato delists 5,000 restaurants in Feb for failing to meet hygiene standards

Income Tax Payment 2019: Got an expensive gift? Here's why you should keep a documentary proof

Chit fund scam killer: This Modi government move will keep poor safe from ponzi schemes

Trump says he's inclined to extend China trade deadline and meet Xi soon

Global Markets: US-China trade hopes lift stocks; oil hits three-month high

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • Amazon Prime Day
  • Income Tax
  • Bharti Airtel
  • NPA
  • Home Loan

Trending Topics

  • Farm Loans
  • 7th Pay Commission
  • Sanitary Pads
  • National Stock Exchange
  • GST

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved