Manish Sonthalia on why India markets cannot fall big & how to find value in growth market
Manish Sonthalia says: “Indian markets cannot fall big. The earning season is unlikely to disappoint majorly on the downside, as expected for the Q3, if the earnings trajectory numbers are going to be something like a 10-12% growth. Those numbers would be broadly achieved, if not outperformed. I do not really foresee how numbers can terribly disappoint for FY25.” Key Points
Economic TimesTitan and Balrampur Chini are high conviction buys for Hemang Jani. Here’s why
“I would buy real estate stocks if there is a small correction of about 5%, 10%. These are all high beta stocks. Interest rates have not really gone down. I am a little surprised that even at higher interest rates, these kinds of numbers are being delivered. So I want to have some exposure. But purely from a momentum perspective, on a dip.” Key Points
Economic TimesSupreme Court issues important warning for WhatsApp users, here are the details
The Supreme Court of India has issued a significant warning to WhatsApp users, particularly those with prepaid mobile numbers who plan to change their phone numbers. Here are the details. Key Points
India TodayEarnings season held up well; positive on Cipla and Sun Pharma: Mayuresh Joshi
The BFSI space has held up well. Midcap IT has produced another quarter of stupendous earnings and management commentaries are pointing out towards no damage to probably come from either the pricing action or demand dynamics at least at this juncture. A few of the capital good companies obviously have reported a strong set of numbers and though cement companies have disappointed, the reason is obvious. Q2 is expected to be weak for monsoons. Key Points
Economic TimesMaruti posts 13% margin. Can Tata Motors and M&M follow?
“It will vary from one company to another company. M&M has a completely different mix of products. M&M, of course, has a very large tractor portfolio and farm equipment portfolio, so that has a meaningful impact on revenues. We will have to wait and watch what exactly the auto companies report in terms of their overall numbers.” Key Points
Economic Times
IOC, BPCL & SBI Card three picks for next one month: Sanjiv Bhasin
Sanjiv Bhasin, Director at IIFL Securities, recommends considering oil marketing companies, as well as TCS, which he believes will continue to perform well despite mixed numbers and a lower-than-expected buyback. Bhasin is bullish on Zomato and the fintech space, and suggests considering cement companies like ACC, Ambuja, UltraTech, and Dalmia Bharat. He also praises Nestle for its bullish outlook on India. Key Points
Economic Times3 stocks to buy in pharma; PFC and REC good proxies for power: Rahul Shah
“The entire power sector is going to get rerated and there could be a lot of room for them, especially PFC and REC. If somebody wants to play a proxy to power, then these are the companies with a limited downside and there could be a good upside from here also.” Key Points
Economic TimesGiven the valuations,there is a reasonable chance of a correction in Indian market: Anand Tandon
There is potential market correction due to weakening global flows and the market's high valuation relative to long-term fundamental numbers. While India's domestic flows remain resilient, even mutual funds show a slight easing off in fresh investments into equity funds. Global weakness, whether due to China or the US, will eventually catch up with India, as the country's growth depends on external factors. Key Points
Economic TimesGot a buying list in this down cycle? Here are some of Dipan Mehta’s favourites
Investors in India are reportedly waiting to buy stocks after expecting a market correction. Dipan Mehta, Director of Elixir Equities, said 90% of people spoken to in the last two months were cautious, expecting a correction and the bulls have been waiting for an opportunity like this. In terms of sectors, Mehta believes there is a better chance of a decent return in inward-looking industries such as banking, capital goods, real estate, and hospitality, rather than export-oriented businesses. Key Points
Economic TimesWill Fitch cut in the US ratings impact Indian market? Hemang Jani answers
The Indian earnings season is going well with about 33 Nifty companies delivering decent numbers. Despite the downgrade of the US rating by Fitch Ratings from AAA to AA+, there is no need to be too concerned as the broader trend for the Indian market is positive. The hospitality industry is looking particularly good with strong traction in occupancy and pricing. Key Points
Economic Times
Angel numbers list and their meaning: Decode mystical messages
Angel numbers can appear in various everyday situations, such as receipts, license plates, clocks, bank statements, or invoices. The frequent occurrence of angel numbers is often seen as a sign from the spiritual universe, guiding and supporting you on your journey. Key Points
Economic TimesWhat numbers do you see in this circle at first glance?
A picture of an optical illusion was shared on Twitter. The post has left people baffled. | Trending Key Points
Hindustan TimesWhatsApp scam calls: Centre tells platform to submit details of telcos
It is understood that once WhatsApp shares the report with the IT Ministry, it could take action against those telecom carriers’ phone numbers. WhatsApp has agreed to share the report with the government, it is learnt. Key Points
The Indian ExpressShweta Basu Prasad feels ‘mediocrity’ is celebrated in Indian showbiz: A PR said my social media isn’t like that of an actor
Actor Shweta Basu Prasad says social media popularity and following is a ‘hoax’. She adds that mediocrity in the form of actors being cast due to social media numbers, is ‘celebrated’. | Bollywood Key Points
Hindustan TimesBehind spurt in WhatsApp missed calls: Fake numbers, shadowy sites
Those who call or text back are usually promised “work from home” jobs involving “liking” certain products online. Only, it’s a slippery slope and the person ends up being defrauded of money. Key Points
The Indian Express
Deven Choksey decodes Reliance’s ‘better-than-expected’ earnings in Q4
Reliance Industries reported a 19% YoY jump in Q4 profit to Rs 19,299 crore ($2.5bn), with the group's digital unit, Jio, benefiting from a 13% rise in net profit to Rs 4,716 crore for the quarter, above estimates. Similarly, consolidated revenue grew by 2% YoY to Rs 2.16 lakh crore. Meanwhile, Reliance Retail saw a 13% increase in net profit for Q1 2021 on a yearly basis, to Rs 2,415 crore. The expansion in margins rose to almost 18%, surpassing a previously estimated 16.5%. Key Points
Economic Times3 midcap banks with ‘strong buy’ and ‘buy’ recos have up to 49% upside potential
It is now three quarters in a row that numbers from banks have shown an improvement. Quite a few of the mid-sized bank number’s were better than what the street had estimated. After facing many headwinds, finally PSU banking space is appearing to be at a stage where all their efforts may start yielding sustained results for the bottomline and shareholders. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or strong buy . Key Points
Economic TimesCovid 19: Cases rise but experts say no cause for worry
Deaths are trending up too, but numbers are very low so far. As in the past, Maharashtra, Kerala, Gujarat, Karnataka, Delhi and Tamil Nadu are worst hit. Himachal Pradesh, the most vaccinated state, is witnessing a surprise increase, likely because it is a tourist hotspot. Key Points
Economic TimesThe numbers that are too big to imagine
When you move beyond trillions, there are some extremely mind-bending numbers, says Richard Fisher. Some of them are too large to fit in the mind – or even within the known Universe. Key Points
BBCWill Budget provide some relief for the common man on income tax front?
The government's revenue collections are robust, with a 12% increase in GST collections and a 17-18% increase in direct tax collections. The fiscal deficit numbers are expected to be better than estimated for FY24, and the revised target for FY25 will be lower based on a projected nominal GDP growth of 10.5% to 11%. There may be a rebalancing from capex to subsidies, which would benefit the common man by providing relief from high food inflation. Key Points
Economic Times
We are headed to 19,700-20,000 by Diwali; 4 sectors to drive market higher: Sanjiv Bhasin
“I am of the opinion that we are just passing time and consolidation is very healthy for the market. But the real action will start today. It is going to be metals, banks, and construction and autos which will drive the market higher. So cheers to a new sparkling Diwali which comes next week. I am very bullish on the market.” Key Points
Economic TimesRetailers may soon be asked to not demand customer phone numbers
Taking the numbers of customers without their "express consent" is a breach and encroachment of privacy, said the official, without wanting to be identified. The official added that such a move will be classified as an unfair trading practice defined as any business practice or act that is deceptive, fraudulent, or causes injury to a consumer. Key Points
The Economic TimesIndex numbers for social issues need to be impartial by design
The recent interest in index numbers has raised questions about their usefulness and validity. The history and principles of index numbers are discussed, highlighting the importance of a clear theoretical framework, adherence to data quality principles, and transparency. Recent examples of indices related to hunger, press freedom or democracy are criticized for their reliance on 'expert opinions' and 'preference surveys', which can be manipulable and lack transparency. Poorly constructed indices risk discrediting the entire discussion on important social issues. Key Points
mintReliance net debt continues to rise from YoY perspective despite capex declining sharply QoQ: Probal Sen
Reliance Q3 numbers were fairly strong with performance in several segments offsetting weakness in the gas exploration and O2C segments. Net debt continues to rise despite declining capex. Retail showed a 23% YoY growth in revenue and a 30% improvement in EBITDA, but return ratios remain below 10% due to increased capital allocation. Optimism remains for Jio's ARPUs with traction expected from enterprise and fiber to home business, 5G investments, and tariff monetization. Stock price outlook is neutral with a fair price of Rs 2600-2700. Key Points
Economic TimesVery steady growth likely in industrial pack; improving margin in FMCG: Shibani Sircar Kurian
“As of now, the earnings season has been panning out pretty much in line with estimates. Financials continue to show fairly strong numbers, especially some of the private sector banks which have reported numbers so far. Overall, it is pretty much a good set of numbers. The IT sector has seen a muted set of numbers but that was again more or less in line with estimates.” Key Points
Economic Times
Nitish Kumar set for another U-turn? How numbers stack up in Bihar
India News: The RJD-JD(U)-Congress Grand Alliance in Bihar is on the verge of falling apart amid reports that chief minister Nitish Kumar is set to return to the BJP-led NDA fold. Explore the potential consequences and political dynamics of this development. Key Points
Times Of IndiaAt the right time, money can be made in pharma; hold on to HDFC Bank: Mayuresh Joshi
NIM contraction might be very marginal in HDFC Bank. Advances growth should be extremely strong. Again, purely in terms of their advances and deposit growth, the numbers are pretty humongous . All the tech issues are largely behind them. Even if valuations are at a premium, which it has always commanded, the second half numbers should be relatively better. Key Points
Economic TimesAll you need to know about Centre's ‘Chakshu’ and ‘DIP’ platforms to combat online fraud
The Chakshu portal introduced under the Sanchar Sathi initiative allows users to report fraudulent activities, preventing losses of approximately ₹1000 crore. ₹1008 crore frozen in bank accounts linked to fraud. Key Points
mintChandigarh: Register for fancy vehicle numbers from March 11
Applicants interested in Chandigarh’s new fancy vehicle numbers series can register on https://vahan.parivahan.gov.in/fancy Key Points
Hindustan TimesRohit Sharma to retire from limited overs cricket? Indian skipper says ‘I will retire straightaway but..’
Indian skipper Rohit Sharma addresses retirement rumors and emphasizes playing cricket with freedom and without focusing on statistics. He advises youngsters in the team to play fearlessly and let the numbers take care of themselves. Key Points
mint
Mayuresh Joshi on 3 Adani Group stocks that can be bought on dips now
Mayuresh Joshi, Head of Research -India, William O'Neil, says earnings are expected to hold up the market because that is ultimately the crux on which the markets hinge upon. The market looks in fine fettle as we speak and both the macros and micros as far as India is concerned are holding out pretty well for the markets. Key Points
Economic TimesNifty Auto index stocks: Festive season is a test for EV inflection point
In some segments like cars and two wheelers do have witnessing rising sales in festive season. But this time in case of even in these two segments, what would be more interesting to watch would be the fact how much sales the EV segment is able to get. If there is a sharp jump in EV numbers then it would mean that the final inflection point as far as the price is concerned will be higher than what has been estimated earlier. Which means early adoption. So when companies announce their sales numbers for the following months, October, November and December, it would throw a light on possible winners for next year. Key Points
Economic TimesCement good for next 2 years; top 2 bets in banks: Devang Mehta
“In terms of pecking order in banks, we like HDFC Bank. After the merger with HDFC, the economies of scale have come into the picture and no one can ignore the strength and the large size and the skill it brings to the table. The second is ICICI Bank with an excellent set of numbers, expansion in ROEs and good profitability.” Key Points
Economic TimesQ4 results this week: ITC, SBI, Zomato, IndiGo, Indian Oil, Airtel and others
Several Indian companies, such as Indian Oil, SBI, Bharti Airtel, and ITC, are set to announce their fourth-quarter results this week. The investor community is keenly waiting for these numbers amid mixed quarterly results from IT firms but strong numbers from banking and financial institutes. Listed companies like Punjab National Bank, Divi's Labs, Power Grid, Muthoot Finance, and FMCG major ITC will disclose their earnings between May 18 and May 20. Key Points
Economic TimesExpect a deeper correction; not buying anything at this point of time: Dipan Mehta
Dipan Mehta predicts a tough earnings season with volatility and muted earnings for blue chip companies due to high expectations and the base effect. He advises trimming positions and not investing further at these levels. He expects a deeper market correction and suggests booking profits, especially in stocks with suspect fundamentals. Mehta believes that financials may face minor headwinds, but the longer-term positive trends in NBFCs and banks will not change. He advises waiting for earnings results before making investment decisions. Key Points
Economic Times
Never say never in the market; Sanjiv Bhasin on 3 value buys even as Nifty conquers 22K
Sanjiv Bhasin says markets are all about fine-tuning. IT has proven that whatever seems infeasible becomes feasible over time. Wipro and HCL Tech have led from the front, causing shorts to get squeezed. Wipro's stock is expected to reach at least Rs 550. The index is expected to reach 22,000, but stock selection is crucial. State Bank and other stocks like Indigo, Ashok Leyland, and ABSL AMC are value buys. It is better to stay with reasonably valued stocks like Reliance, SBI, ICICI, and IT. Key Points
Economic TimesCore GRMs not a concern, Reliance better off in terms of alternate feedstock in O2C biz: Mayuresh Joshi
Volatility in the Gross Refinery Margins (GRM) for Reliance Industries Limited's O2C business should not be a concern for investors, according to Mayuresh Joshi of William O Neil India. He said the company had other feedstocks at its disposal to absorb the volatility, and that on the whole, the investment community was aware of this. Joshi added that retail had held up well, and that O2C had met expectations, while the market could expect an increase in ARPU from the country's telecommunications industry. Key Points
Economic TimesRIL shares flat after in-line Q3 results. Buy, sell or hold?
RIL's profit after tax stood at Rs 19,641 crore, surpassing D-Street expectations. Brokerages have mixed views, with Citigroup downgrading RIL but raising the target price. Sharekhan maintains a Buy rating, emphasizing strong long-term prospects. Emkay Global maintains its earnings outlook and raises the SOTP-based target price. Key Points
Economic TimesIT stocks having their own Chandrayaan-3 moment. Did you miss the fineprint in Q1 results?
While TCS' June quarter numbers did not lead to upgrades, HCL Tech's figures were an all-round miss and Wipro's weak guidance drew bearish comments. But stock prices have another story to tell. Led by 7% weekly jump in Infosys and 5.6% rise in TCS, Nifty IT index ended last week higher by 4.7%. Key Points
Economic Times‘Numbers weak but pipeline strongest ever,' says HCLTech CFO; company to defer hikes for senior employees
The CFO believes that the strong pipeline would reflect in numbers in the second half of the current fiscal. “Despite the weak Q1, our guidance remains unchanged at 6-8 per cent for the company level and 6.5-8.5 per cent for services. We are confident in our pipeline, which is expected to deliver good revenue in the second half,” Aggarwal noted. Key Points
Business Today
EXCLUSIVE INTERVIEW WITH AKSHAY KUMAR: Audiences tell us when we are right and where we are wrong – That’s reflected in box office numbers
Akshay Kumar: If a film does not work, that means people didn’t come to see it, which in turn means that they didn’t connect to it. And it means that’s the time for you to change. Which I think we as an entire industry are trying to do. Key Points
FinancialexpressWhen will LIC snap out of Adani induced decline? Deepak Shenoy answers
“There is a lot of fear and, I do not think the LIC management is helping by not giving a lot of clear indications about all of this. So, I think in the longer term it will recover. There is a big portion of another part of the profit pool which should come into play in the January to March quarter.” Key Points
Economic TimesTRAI issues alert on mobile disconnection scam calls, says these calls are illegal do not pick
TRAI has recently been alerted about a new scam involving fraudsters posing as government representatives. The fraudsters are falsely claiming that the mobile numbers of individuals are being disconnected due to misuse and urging them to join Skype calls. Key Points
India TodayHemang Jani’s top 6 bets in cement and bank stocks
Hemang Jani, Equity Strategist & Senior Group VP at MOFSL,expects passenger vehicles and commercial vehicles to continue seeing growth, but there may be suppressed performance in the tractor industry. Kotak Bank has performed well with strong loan growth, NII, and asset quality. UltraTech is best positioned in the cement sector and expected to experience strong volume growth. Key Points
Economic TimesSahil Kapoor on two numbers the market would watch out for in Interim Budget
Sahil Kapoor of DSP Mutual Fund, discusses the upcoming budget and its impact on the market. He highlights two important numbers to watch out for: overall expenditure and gross market borrowing. The state wants to know how strongly the government will go on the path of fiscal consolidation and what kind of capex they promise. There may be a slowdown in capex expenditure compared to the last two-three years, but the overall number is expected to be closer to the previous years. Key Points
Economic Times
Why DEA Secretary is upbeat about India's Q2 GDP numbers
The GDP numbers for the second quarter are scheduled to be released on Thursday. The economy grew at 7.8 per cent in the first quarter (April-June) of the current financial year. The Budget 2023-24 proposes to bring down the fiscal deficit to 5.9 per cent of the GDP from 6.4 per cent in the previous financial year. Key Points
Economic TimesDuring festivals. the rural customer has spent money on 2-wheelers or 4-wheelers: FADA President
“What is unique about two-wheelers is the kind of double-digit growth we see. I can confidently say that we will be seeing a growth of somewhere between 20% and 25% in the two-wheeler segment. That can only happen when the entry-level has delivered the requisite numbers. So, that is the good part.” Key Points
Economic TimesSBI's NPAs are not a worry; stock facing unfair treatment: Mahantesh Sabarad
At least from the headline numbers of NPA, it tells us that there does not seem to be any worry. We will have to look at the granularity in terms of what are the slippages and what are the upgrades. Possibly the upgrades would have been better this time around relative to the other quarters. Key Points
Economic TimesSanjiv Bhasin on 3 pedigree stocks that are must-haves in your portfolio
“Pedigree stocks with business outlook and transparency and forward-looking guidance will always trade perfect to prices and supersede those prices. So, for Maruti, 12,000 is very much on the card. For Nestle 27,000 is a possibility. And thirdly, there is Indian Hotels .If you want to participate in the India story with a slightly longer-term view, these three stocks are a must in your portfolio. ” Key Points
Economic TimesBharti Airtel ARPU touching 200 an encouraging sign: Naveen Kulkarni
Axis Securities' CIO Naveen Kulkarni says the Nigerian currency devaluation losses reported in Bharti Airtel's African business were not unexpected. Kulkarni explains analysts expected a significant impact on the company's transnational effect on African revenues, however, the Rs 200 ARPU number is an encouraging sign. The stock is expected to open slightly higher based on Bharti's results, Kulkarni said, and added the internal details and management commentary must be reviewed. Key Points
Economic Times
Maruti Suzuki Q1 margins slightly lower than expected: Naveen Kulkarni
Maruti Suzuki's margin of 9.2% is lower than expected, according to Naveen Kulkarni, CIO of Axis Securities. While the company's progress in small car sales is being hindered by lacklustre growth, Kulkarni suggests there may still be hope for improved margins in the future, thanks to low commodity prices and a boosted production of premium models. However, it is early to tell how things will develop, and the gross margin and other factors must be considered. Key Points
Economic TimesDoT taps Meta amid rise in spam calls on WhatsApp
The action from the government assumes significance amid a lot of complaints by users that they have started receiving spam calls from international numbers. Many also complained of getting messages for job offers and product advertisements etc. Key Points
FE Tech BytesShekhar Kapur recalls ‘hating’ mathematics in school due to dyslexia, reveals how AI has helped him ‘love visual maths’
Shekhar Kapur had opened up about having attention deficit disorder and dyslexia in 2018. Recently, he shared how he has started loving numbers because of AI. Key Points
The Indian ExpressOver 1 crore mobile numbers linked with Aadhaar in Feb
"Over 10.97 million mobile numbers were seeded in Aadhaar following requests from residents in the month of February 2023, a jump of more than 93 per cent over the previous month," the statement said. Key Points
FinancialexpressSiddhartha Khemka on why Bajaj Finance saw a sell-off post results
Mumbai-based MOFSL's Siddhartha Khemka says he has a positive view on Bajaj Finance despite the recent sell-off in response to its in-line Q1 results. He said the addition of new products to its range of services should help the firm grow. Khemka also expects broad-based improvement in India's healthcare market, adding that the regulatory uncertainty which has hung over the sector has eased somewhat, with some pharma firms already reporting better numbers. Khemka says he prefers Sun Pharma rather than Cipla or other local pharma names. Key Points
Economic Times
Is there a case for de-rating Nifty EPS estimates for the full year? Sanjeev Prasad answers
Among the sectors which are still to report earnings numbers, auto is an important one because on an incremental basis, it is driving the net profits of coverage and that is also in the Nifty 50 Index quite significantly. Then, one will have to wait and see how some of the other larger companies report, especially on the consumer side and consumption demand is not looking that great at this point in time. Key Points
Economic TimesThis report card budget has given positive signals for equity markets: Sunil Subramaniam
The reduction in interest rates in the debt market is leading to increased flow of money into hybrid funds, which provide a tax-efficient way to participate in the reducing debt market. This has positive implications for the private sector as it reduces the crowding out effect of the government, leaving more capital for private sector borrowing. The lower borrowing program announced by the government also reduces pressure on yields, resulting in mark-to-market gains for banks and mutual funds. Key Points
Economic TimesNifty will cross 20,000 before Diwali; next 2-3 years belong to midcaps: Sanjiv Bhasin
As a basket of stocks, midcaps are still going to rule the roost and we are closer to year end where again the Diwali effect, the left out feeling is going to be humongous. So, the next two-three years belong to midcaps and we will take it from here till the election and Budget that they can still outperform. Key Points
Economic TimesWhere should you buy the dip in this market? Sunil Subramaniam answers
Sunil Subramaniam, MD & CEO of Sundaram Mutual, predicts rapid rises and falls in sectors such as IT, pharma, metals, global cyclicals, and energy. He suggests that declines will likely occur in sectors that have experienced recent rapid growth due to news flows rather than fundamental factors. Subramaniam also advises caution in infrastructure-related sectors, as the market may have overestimated their potential. Key Points
Economic TimesWith no top winner in Friday’s drawing, Mega Millions jackpot rises to $1.05 billion: Report
The lottery on Saturday said that now the estimated jackpot for the next drawing on Tuesday night will be around $1.05 billion. This will be equal to the fourth-largest prize in Mega Millions’ history. Key Points
mint
Brain Teaser: Can you crack the code and open this lock?
A brain teaser featuring a four-digit code has been puzzling Twitter users. While many suggest the code is 3841, but some argue it could be 4891. | Trending Key Points
Hindustan TimesGDP growth estimated to cross 7%, what’s in it for the markets?
The numbers beat market expectations; however, the benchmark Sensex at the BSE fell 193 points or 0.3% on Thursday. Key Points
The Indian Express