NSE chief urges focus on business growth over share prices

NSE MD and CEO Ashish Chauhan has urged companies to prioritize building sustainable businesses and long-term value over solely chasing share prices.

Chauhan emphasized that market valuation should reflect genuine business performance and growth. He advised entrepreneurs to concentrate on their core operations instead of short-term market movements.

Consistent profitability and innovation remain central to his message. Even small improvements in these areas can attract market recognition and unlock significant growth opportunities over time.

The comments highlight a broader push for companies to build enduring value through operational focus rather than valuation metrics alone.

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BSE trading floor during Sensex and Nifty rally on US-Iran ceasefire relief, with cheering traders amid rising indices and cautious expressions over fragile peace.
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Indian markets rally on US-Iran ceasefire relief but caution persists

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Indian equity benchmarks Sensex and Nifty posted their strongest single-day gains in years on Wednesday, driven by a US-Iran ceasefire that eased oil prices and inflation fears. The market capitalization of BSE-listed companies rose by ₹16.1 lakh crore. However, Asian stocks turned cautious as the ceasefire showed signs of fragility.

Top investors Ramesh Damani and Sunil Singhania say India’s fundamental growth drivers remain strong despite temporary market challenges from foreign outflows and geopolitical concerns.

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BNP Paribas analyst Kumar Rakesh has cautioned investors against viewing largecap Indian IT stocks as a straightforward value play. He points to weak FY27 guidance, AI-led disruptions, and stalled client spending as major challenges. Buybacks and dividends offer some support, but earnings risks remain high.

Indian equities have posted losses in recent sessions while markets in neighboring countries recorded gains. The divergence stems from a global surge in artificial intelligence spending that has boosted chip manufacturers elsewhere in Asia.

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Indian IT exporters have seen their stock valuations drop to levels last seen during the 2008-09 subprime crisis. The companies now trade at price-to-earnings multiples of 15 to 18 after losing nearly 30 percent in 2026. AI advancements and new competition are cited as key drivers of the decline.

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