ETMarkets PMS Talk: How investing in sector leaders early help this fund manager earn multibagger returns
Elections do bring volatility. If one were to look at data for the last 30 years, despite the short-term volatility around pre and post election results, markets have given positive returns in almost all the terms of different political parties across this period. Given that we have had a good run up in the recent past, our guess is that we may see higher volatility as the election season comes closer. Key Points
Economic TimesAssocham to organise B2B meetings with delegation from UAE
The meetings, themed 'Expanding Your Business Globally with SAIF Zone', are scheduled to take place on November 7-8 in Chandigarh, a release said here on Sunday. he B2B (business-to-business) meetings aim to provide city-based industrialists with a deep understanding of the benefits of establishing businesses in the free trade zones of the UAE and how Indian companies can capitalise on this opportunity to expand their operations and increase exports worldwide. Key Points
Economic TimesHow family businesses in India are driving innovation and economic growth
Family businesses in India are driving innovation and economic growth by blending tradition with modernity. These businesses, which often operate in sectors like manufacturing, textiles, agriculture, and retail, are embracing new-age technology and investing heavily in research and development. They are also collaborating with start-ups and academia to accelerate innovation efforts. Family businesses play a significant role in job creation and fostering economic growth, particularly in rural areas. Key Points
Economic TimesWholesale VoIP Providers: My Country Mobile, The Undisputed Carrier Advancing Connectivity Worldwide
My Country Mobile offers advanced and affordable communication solutions for businesses worldwide. They are the leading wholesale VoIP providers. Key Points
Hindustan TimesSanjiv Bhasin bullish on 3 new age stocks for next 3 years; backs 3 auto stocks
My dark horse play is IEX. You cannot have a trading platform which has 93% market share and lose trade at this valuation. I am looking at volume growing at not 10, but 12, but 15 times, maybe more in the next three years and the platform is brilliant. So, you cannot have a better play than IEX. Avoid the noise. This is the time to be in IEX and IRCTC, which are two brilliant blue chip businesses. Key Points
Economic Times
Will RIL AGM change fortunes of 36 lakh shareholders? Here's a 5-point wish list
Investors are eagerly awaiting the conglomerate's management to highlight the way forward for monetisation of Jio and retail businesses. Within the operating businesses, we believe Retail is the most interesting, but also the more opaque of RILs businesses given the lack of granular details, JP Morgan's Pinakin Parekh said. Key Points
Economic TimesTurning attention to largecaps; 3 stocks on radar: Sanjiv Bhasin
My top pick is Larsen & Toubro. There is a new tie up with Hindustan Aeronautics. Defence now taken centrestage after Chandrayaan 3. And Larsen & Toubro fits the bill perfectly. It is a must-have in a portfolio. Use this correction to buy. Two, I have been very bullish on Apollo Hospital and that could be a very good play for a target of 6,000. Third, I am very bullish on LTIM. In IT, there will be a re-rating and it will be led by LTIM. Key Points
Economic TimesMahindra has a strong growth trajectory: Anish Shah, MD
We had talked about getting to 18% RoE across the group and at that point we had said we'll do it in three to five years. But we got there in 18 months. We've also talked about 15%-20% EPS growth from FY21 and we are 3x the profits of FY21 right now. Key Points
Economic TimesAI and MSMEs – oxymoron or magic?
Technology for MSMEs: MSMEs have to optimise their resources to stay competitive. AI-powered tools can help businesses streamline their operations, reduce manual processes, and increase efficiency. Key Points
FinancialexpressCBIC extends deadline for filing April GST return for Manipur-based biz till May 31
Registered businesses in Manipur, a north-eastern state in India affected by ethnic clashes, have been granted an extension until 31 May to file monthly GST returns. The previously specified deadline dates had been due in May but have been pushed back due to ongoing political violence. The filing of GSTR-1, the statement of outward supplies, was postponed from 11 May, while GSTR-3B, the monthly tax payment form, and GSTR-7, for businesses that deduct tax at source, were set for 20 May and 10 May, respectively. Key Points
Economic Times
Stay away from Paytm & Zomato; wait for right moment to enter Nykaa, Delhivery: Sudip Bandyopadhyay
Sudip Bandyopadhyay suggests waiting to see whether the long-run performance of businesses such as Nykaa and Delhivery and any significant changes to their valuations will occur. He also admires the cement industry, specifically Birla Corporation and Larsen & Toubro, and advises cautiousness with Paytm and Zomato due to their unestablished models. Additionally, he finds the intermittent selling of businesses to foreign-holding company parents from Siemens and ABB, respectively, concerning. Key Points
Economic TimesShould one worry about OMC stocks as election nears? Sachin Shah answers
Today, 50% of power cable sales come from the export side. There is opportunity from the North America market and the Europe market because in the Europe market, renewable energy is a very big thing. They need to establish much more new transmission capacities for renewable power and in North America, they need to completely rebuild their infrastructure. There is probably annually a $20 billion opportunity. So, the business outlook is looking very strong. Key Points
Economic TimesLook at Pidilite’s yearly or Q-o-Q growth as our 4 quarters are not equal: MD
Pidilite Industries reported healthy growth in its core businesses, which helped drive overall performance. The consumer businesses grew over 20% in value and double digits in volume. The B2B growth was around 13%. Rural and semi-urban areas are gradually returning to demand, creating a greater growth rate than urban areas. The pigments business has faced an impact due to the near-recession in western markets. Key Points
Economic TimesFamily-run businesses survives if they adapt to changes, allow professionals from outside: Deepak Parekh
Family-run businesses should embrace change, practice proper governance, and develop a succession plan to ensure their long-term survival, according to HDFC chairman Deepak Parekh. Speaking at an event at the Center for Family Business and Entrepreneurship, Parekh noted that achieving success in such businesses often depends on the ability to invite professionals on board and embrace education. Key Points
Economic TimesVedanta’s QIP oversubscribed: Rs 8,000 crore offers receives Rs 23,000 crore in bids, FIIs & MFs show strong appetite
The QIP witnessed significant interest from Foreign Institutional Investors (FIIs), mutual funds, insurance companies and other investors. Apart from MFs, other investors include foreign portfolio investors and UHNIs from India. Key Points
Business Today
Amazon CEO cuts 9000 more jobs, informs employees through email: Read full note from Andy Jassy
Amazon has announced second round of layoffs after completing the internal evaluation of employees. The US-based tech giant is firing 9,000 more employees across the departments. Key Points
India TodayRising trend of female involvement is observed in family businesses, says report
A rising trend of female involvement is observed, particularly in managerial roles in Indian family businesses, a new report has revealed. However, female representation at the CEO and senior leadership levels remains limited. Key Points
Business TodayTata Motors' board approves demerging CV, PV businesses into two separate listed companies
Tata Motors' board approved the demerger of its business into two entities: commercial vehicles and passenger vehicle business. This follows the earlier subsidiarization of PV and EV businesses. The move aims to empower businesses for higher growth, agility, and accountability. The demerger will be implemented through an NCLT scheme, requiring approvals from the board, shareholders, creditors, and regulators. Key Points
Economic TimesElon Musk reduces gold tick fee for businesses on X, here is what it costs now
Elon Musk has reduced the cost of gold tick for businesses on Twitter, now called X. The new plan now costs USD 200 per month. Key Points
India TodayTepid demand hits businesses across segments as inflation-hit consumers tighten purse strings
The demand situation is posing a challenge, as mentioned by a significant number of companies in their Q1 earnings statement. businesses have now pinned their hopes on the festive season for a likely spending revival, the report said. Key Points
Economic Times
SP Group creates holding companies for infra and realty verticals to improve cash flows
The move will help improve operating cash flows since investments in long-lead businesses like infrastructure and real estate create timing mismatch, which puts debt burden on the balance sheet, officials said. Earlier all its diverse businesses, ranging from real estate and construction to oil and gas, were housed under one holding company - Shapoorji Pallonji and Co (SPCPL). Key Points
Economic TimesThere is no shareholder representation on Religare board; the idea is to create value, not destroy it: Moh
“We have to be very careful in what categories we enter because I still want Eveready to be a B2C business, which we are good at running. All our businesses are B2C businesses. And plus we want to get into categories which now do not have very strong sort of players.” Key Points
Economic TimesWhat family and non-family businesses can learn from each other
Family-owned business is the dominant form of business organisation in India. Ranging from large industrial houses to medium and small enterprises, family businesses form the backbone of the Indian economy. Over 90% of all listed firms in India are family-owned businesses. Key Points
Economic TimesIndian businesses fear higher taxes over unsettled dues to small vendors as March 31 deadline inches close
Indian businesses are facing a higher tax outgo due to a new law that requires them to clear outstanding dues to small and micro vendors within 45 days. The law, passed in 2023 and unchanged in the 2024 budget, treats incurred expenditures as income on which tax must be paid for FY 24-25. Many businesses are consulting auditors and tax experts to estimate the extent of the impact and find ways to avoid a tax blow. Some small units are even considering surrendering their 'small and micro' registrations to protect their order books. Key Points
Economic TimesHow ready are Indian businesses for the AI era?
Overall, according to to the Cisco AI Readiness Index 2023, only 26% of organisations in India are fully prepared to deploy and leverage AI – but this is higher than the global average of 14%. 42% are moderately prepared, 31% have limited preparedness, while 1% are unprepared. Key Points
Economic Times
Indian businesses need to stop looking for China fix: S Jaishankar
Indian External Affairs Minister S Jaishankar has called on Indian businesses to stop seeking a China solution while highlighting the strategic importance of the Make in India programme in boosting the country's manufacturing sector. Speaking at the release of Amitabh Kant's book Made in India: 75 Years Of Business and Enterprise, Jaishankar noted that the domestic change brought about by a robust manufacturing sector was essential for sustainable economic growth. Key Points
Economic TimesNew businesses and their strange new rules: What should an investor do
Now, we have created a business and investment environment where companies that have never made a profit and appear incapable of doing so are bloated and inefficient. Their solution is to change accounting rules. Key Points
Economic TimesBetting on capex story as it has strong legs and can go on for many years: Chirag Setalvad
Chirag Setalvad, Head of Equities at HDFC AMC, discusses the positive impact of government spending on infrastructure, the potential for private capex to pick up, and the outlook for the consumption space and manufacturing sector in India. He emphasizes the importance of investing for the long term. The capex story according to him has strong legs and many years to go. Clear tailwinds are visible there. Key Points
Economic TimesRazorpayX launches new solution to provide escrow accounts to merchants for easy money transfers
Technology for MSMEs: The new solution provides businesses with an Escrow trustee, in partnership with Axis Trustee Services, who are vetted and on-boarded by RazorpayX. It also offers merchants an Escrow account to route funds they are receiving on behalf of end beneficiaries to ensure the right tax treatment and reporting. Key Points
FinancialexpressMarket is uptrending; wait for the bull market corrections: Nitin Raheja
Nitin Raheja says: “The consumer companies are great businesses with great cash flows and great returns. But growth is missing. Typically we look at businesses in high growth mode. We like to invest in businesses where we believe earnings can grow and double at almost 15% to 16% compounded over the next five years. We do not find that in some of these businesses.” Key Points
Economic Times
How has the Adani Group fared so far and what is the value now? Deven Choksey answers
Coming to Adani Enterprises, instead of retail investors, this kind of business is definitely more meaningful if you are an institutional investor like pension fund, insurance fund, sovereign fund or a large-sized hedge fund, because it is producing unlocking of value in coming years. Also, I see the entire infrastructure portfolio of the company at the group level to begin with and then respective companies thereafter. Key Points
Economic TimesSpreading Diwali cheer: Devang Mehta is bullish on these 3 sectors
If you want to play, the banking sector is a proxy play for economic growth. Yes, these are good candidates. So on a down day, when you feel that the banking sector has sort of underperformed the overall market, these are good times to build definitive and gradual positions in these businesses. Key Points
Economic TimesRisk of existential viability of Earth has to be kept above business viability: Uday Kotak
Kotak Mahindra Bank Chairman Uday Kotak on Saturday pitched for businesses to finance climate transition with the government supporting them in terms of gap-funding. Stating that the risk of existential viability of the Earth has to be kept above the business viability, Kotak said businesses need to go beyond capital which expects returns and opt for capital that is ready to take losses. Key Points
Economic Times‘Business confidence improved in June qtr’
Business confidence in India has improved in Q2 2019, according to a survey by the Confederation of Indian Industry (CII). The CII's Business Confidence Index increased to 66.1 in Q2, up from 64 in the previous quarter. The survey also found that businesses are optimistic about prospects for fresh private investments, with the majority of respondents expecting the economy to grow at 6-7% this fiscal year. However, concerns were raised over slowing growth in developed economies and geopolitical risks impacting economic growth in the future. Key Points
mintMultiple rerating over in defence, railway stocks, but these are sustainable businesses: Prashant Jain
Prashant Jain, believes defence stocks are highly sustainable businesses with growth tailwinds and government support, but their PE multiples have already rerated. Jain is optimistic about large, technology-driven financial institutions like SBI and ICICI, which are well-placed to leverage the current digital environment. While defence manufacturing and railways are long cycle businesses, Jain anticipates they will still grow between 10-15% per year over the next 5 to 10 years, even if there is no further increase in PE multiples. Key Points
Economic Times
GST E-invoicing: A new era of efficiency and accountability in Indian taxation
The e-invoicing system has been mandatory for any businesses that report an annual turnover of over Rs 5 crores with effect from 01.08.2023. Key Points
FinancialexpressFounder of Indian trading company says AI will take away jobs, but assures employees he will not fire them
Will AI lead to employment loss for many humans who do the work that ChatGPT and Google Bard etc can do in future? Yes, thinks Zerodha founder and CEO Nithin Kamath. But not at Zerodha as Kamath promised in a Twitter thread that he would put employees first and would not fire just because their work could be done by AI. Key Points
India TodayMukesh Ambani’s Reliance has stock analysts most bullish in 7 years
The stock is down 3% so far in 2023 compared with a gain of 1.5% in the S&P BSE Sensex Index, hurt in part by a decline in crude prices. Thirty-three of the 38 analysts that cover the conglomerate have buy ratings, with many citing attractive valuations as well as optimism for its various oil-related, consumer and telecom businesses. Key Points
Economic TimesWhere to look for compounders & what to avoid? Mehul Bhatt explains
OysterRock Capital is a venture capital firm that is bullish on the market and believes that there are many opportunities to be found in the market at this time. They believe that the market is expensive right now, but that is changing and they are seeing better prices for their investments. They also believe that there are many opportunities to be found in the market in terms of acquisitions and capex. They advise investors to look for companies with good growth prospects and good underlying financials. Key Points
Economic TimesTop PMS fund manager explains his BMV model of picking stocks
Under the business filter, we aim to identify strong businesses that have the potential to grow rapidly, wherein we identify industries that can grow faster than the GDP and companies that can grow faster than competitors in those industries. The second focus is on companies with an enduring moat, or companies with a sustainable competitive advantage. Key Points
Economic Times
After retail and telecom, Ambani casts eye on financial services, new energy business
Billionaire Mukesh Ambani aims to make his recently demerged Jio Financial Services the largest non-banking lender in India, according to Reliance Industries' latest annual report. The unit plans to leverage digital and retail businesses technological capabilities to democratically provide financial services to citizens. It recently partnered with BlackRock to set up a mutual funds business and has little revenue, but owns 6.1% of Reliance. Key Points
Economic TimesThe British are coming for your white-collar job
American businesses are sending all types of work across the Atlantic, drawn by depressed U.K. salaries, tax incentives and a weak currency. Key Points
mintZoho Corporation launches Zakya for POS solutions
India Business News: Zoho Corporation has launched Zakya, a modern POS solution for retail stores. The cloud-based POS solution helps small and medium-sized retailers streamline their day-to-day operations with improved inventory management, omnichannel sales, and customer experience. Key Points
Times Of IndiaMeesho registers 25,000 non-GST sellers in 2 months
Kolkata, Dec 15 (PTI) E-commerce platform Meesho on Friday said it has onboarded more than 25,000 non-GST businesses in two months. With an eye on 15-20 million non-GST registered sellers, the SoftBank-backed platform opened up its platform to onboard such businesses on October 1. The GST Council in July exempted small businesses making intra-state supplies […] Key Points
ThePrintMoody's affirms RIL's Baa2 ratings; outlook stable
Moody's expects RIL's consolidated EBITDA to grow by around 14% to Rs 1.7 lakh crore (around $21 billion) for the fiscal year ending March 2024, supported by strong growth in its consumer businesses, comprising digital services and retail, as well as its upstream oil and gas segment. Key Points
Economic Times
Extreme weather events to stay, businesses should fine-tune strategies towards ESG: Sanjiv Puri
ITC Chairman Sanjiv Puri emphasized the need for businesses to adjust their strategies in response to increasing extreme weather events and environmental concerns. He highlighted the impact of extreme weather on nature, urban infrastructure, and the Global South. Puri also stressed the importance of adapting and fine-tuning strategies in a dynamic manner, as well as the urgency of addressing gaps in ESG frameworks and regulations. Key Points
Economic Times