Looking at neglected sectors elsewhere in rather than investing in PSUs: KR Senthilnathan
KR Senthilnathan from NAFA Asset Managers explores investment opportunities in undervalued sectors like PSUs and the ICE segment in auto. He emphasizes the importance of sector rotation, stock selection, and the potential for long-term returns. He further says: Other than private banks, even other sectors also offer opportunities. There are certain stocks which are available at a 20-30% discount from the peak levels and a slight change in the earnings can surprise us. Key Points
Economic TimesOn track: Core growth at 3-month high of 6.7% in Feb
India's core sectors saw a 6.7% growth in February, with various industries showing positive trends. Steel output increased, while fertiliser production contracted. Economists predict a 4-6.5% expansion in the Index of Industrial Production for February. Key Points
Economic TimesHealthcare, education, fintech to be key beneficiaries of India-UAE pact: CII President
CII President R Dinesh believes the ambitious USD 100 billion non-oil trade target between India and the UAE by 2030 is achievable. The 2022 free trade agreement has already spurred significant bilateral trade and investments, with the UAE now India's top non-oil trading partner. The comprehensive pact covers various sectors, fostering growth, and facilitating global supply chains. Key Points
Economic TimesWe have a Nifty target of 24,000 in CY24, a 9% upside from current levels: Seshadri Sen
Seshadri Sen of Emkay Global Financial Services is bullish on the manufacturing-led cycle in India, particularly in the industrials, consumer discretionary, and materials sectors. He expects moderate gains in the larger cap space and plans to overweight IT when valuations become favorable. He says: We will be overweight IT when valuations revert back to our side when the large caps maybe touch the low 20s or even below. Key Points
Economic TimesReady for re-rating once again? 4 stocks from textile sector with upside potential of up to 24%
In past 3 years, a host of sectors have been making a comeback. There are two kinds of comebacks, first is in terms of macro structure of the business witnessing an improvement and hence the bottomline showing an improvement and second is in the stock price performance. Both are very different and that's the most important needed to be taken into account. In last 8-9 years, there has been a policy-level effort to revive sectors like textiles for two reasons. First, it is a labor-intensive sector and impacts a large number of people. Second, there was an opportunity to cut imports and push exports. All the policy efforts were having a moderate impact but then came Covid and China plus one came into the picture, changing the whole picture externally. Internally, help came in the form of the PLI scheme which helped some companies reduce cost of capital and resources for expanding. This list is drawn from Stock Reports Plus, powered by Refinitiv, with over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum. Key Points
Economic Times
Budget 2024 expectations: PLI to generate industrial capex of Rs 3-3.5 lakh crore
Budget 2024 expectations: The Production Linked Incentive (PLI) scheme in Budget 2024 is expected to generate industrial capital expenditure (capex) of Rs 3-3.5 lakh crore. The scheme will offer incentives amounting to Rs 1.8-1.9 lakh crore and generate incremental revenue of about Rs 30 lakh crore. Key Points
Times Of IndiaGovt mulls tweaking PLI schemes in textiles, food processing, pharma: Official
The scheme was announced in 2021 for 14 sectors, including telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones and pharma with an outlay of Rs 1.97 lakh crore. Key Points
Economic TimesKey infrastructure sectors’ growth up at 7.8% in Nov
The output of eight key infrastructure sectors increased by 7.8% in November 2023 against a 5.7% expansion in the year-ago period, according to the official dat Key Points
The Tribune IndiaGovt targeting $500 bn exports from 10-11 sectors by 2030: Official
The Indian government aims to boost domestic manufacturing and increase exports to USD 500 billion by 2030 from 10-11 sectors, including automobiles, pharma, textiles, medical devices, and chemicals. The Commerce and Industry Ministry held a meeting to discuss these issues, which were discussed during the Chintan Shivir for Manufacturing. The 11 sectors include auto components, automobiles, capital goods, chemicals, drones, medical devices, aerospace and defense, leather and footwear, textiles, and space. Key Points
Economic TimesMake in India 2.0: DPIIT working closely with 24 sub-sectors to promote manufacturing, exports, cut import
On Tuesday, the Ministry of Commerce and Industry highlighted the significant achievements of the 'Make in India' initiative since its inception. The current emphasis is on 27 sectors as part of 'Make in India 2.0.' The Department for Promotion of Industry and Internal Trade (DPIIT) is actively overseeing action plans for 15 manufacturing sectors, while the Department of Commerce is coordinating efforts for 12 service sectors. Key Points
Economic Times
Market at record high again! 4 of top experts list out sectors to pick and avoid
The Sensex rose over 720 points to its new high of 71,234.63, whereas the broader Nifty50 index advanced 214.4 points to its record high of 21,397.10. Key Points
mintIndia's infrastructure output growth quickens to 12.1 per cent in October
In October, India's eight crucial infrastructure sectors experienced a 12.1% growth on a YoY basis, up from September's 9.2%, as per official data. The Index of Eight Core Industries (ICI), evaluating sectors like cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products, and steel, showed positive growth for all sectors compared to the same period last year. Key Points
Economic TimesETMarkets Smart Talk: Planning to invest Rs 10 lakh in Samvat 2080? Allocate nearly 50% in interest rate-s
We are positive on interest rate-sensitive sectors from a 12-month perspective as interest rates seem to be peaking. NBFCs, banks, and real estate are likely to perform well in a falling interest-rate environment. Secondly, the defence sector could continue to be in the spotlight, considering a projected 2-3% spending as a percentage of GDP over the next decade. Key Points
Economic TimesNiti Aayog to identify a dozen sectors for global manufacturing hub status
India is set to identify several sectors with the potential to become global manufacturing hubs and will adjust policies and provide infrastructure support accordingly. Niti Aayog is conducting an exercise to pinpoint these sectors, evaluating their export potential and proposing strategies to develop them into global manufacturing champions. Key Points
Economic TimesCarlyle pulls back from US consumer bets as part of strategic overhaul -source
Private equity firm Carlyle Group (CG.O) plans to pull back from investing in U.S.-based consumer, media and retail companies as it looks to focus on other key sectors such as technology and financial services, according to a person familiar with the matter. Key Points
Reuters
Cabinet secretary reviews progress of PLI scheme in certain sectors; another meeting likely soon
Cabinet secretary Rajiv Gauba on Thursday reviewed the progress of the production-linked incentive scheme (PLI) for sectors that are generally doing very well like pharma and electronics, a senior official said. Another such review is expected for the remaining sectors, the official said. Key Points
Economic TimesStay invested but be selective as market pricing in full-blown recovery: Pawan Parakh
Investors should be selective while participating in the market as some sectors are overvalued. However, many sectors and stocks are showing growth after years of stagnation and are available at reasonably good valuations, making it a good time to invest. The staple and chemical sectors are showing some signs of overvaluation, as are some pockets of the tech sector. In contrast, the utility sector looks interesting due to lack of investment in renewables or power in the last few years. Key Points
Economic TimesCore sectors’ growth slips to six-month low of 3.5% in April
Marking the slowest pace in six months with half of the sectors, India’s eight core sectors’ output growth slid from 3.6% in March to 3.5% in April Key Points
The HinduPLI schemes for labour-intensive toys, leather sector on the cards
PLI scheme is showing significant dividends across many sectors. The intention is to also roll out this PLI scheme for more labour-intensive sectors such as toys, leather and footwear and other such sectors where employment benefits will be more significant, Singh said at an industry interaction. Key Points
Economic TimesETMarkets Smart Talk: India to enter a manufacturing decade; Renewables likely to produce next wealth crea
The Indian manufacturing sector is expected to witness significant growth in the upcoming years due to the government's focus on the sector, according to Arvind Kothari, the Founder of Niveshaay. Kothari expects renewable energy, recycling, and electronics manufacturing to emerge as promising potential wealth creators for the decade. In contrast, companies with poor cash flow and low visibility in earning growth could underperform in FY24, despite a strong earnings recovery season in Q4 anticipated. Key Points
Economic Times
ETMarkets Smart Talk: We like manufacturing, logistics, telecom & real estate companies: Anand Shah
ICICI Prudential AMC's Head of PMS and AIF Investments, Anand Shah, believes that sectors such as manufacturing, manufacturing allied, telecoms, and real estate are currently offering opportunities.According to Shah these companies have held their own during challenging macroeconomic times, and FY24 is looking positive for them. ICICI Prudential Alternate Investments predominantly invests in equities- with an inherent level of risks for sophisticated investors Key Points
Economic TimesNear term outlook for India a little more positive than it was a month ago: Anand Tandon
Anand Tandon sees a positive near-term outlook for India as incremental news flow has been positive and the RBI has put off raising interest rates. The challenge is to identify cheap sectors as those with high earning visibility have already performed well. Banking, the largest driver for earnings for the current year, has done quite well, hence the challenge is to find new sectors to invest in Key Points
Economic TimesAfter a brief surge, private investment & hiring has again turned cautious. Focus is on cutting debt
Financial year 2022-23 saw private investments & hiring surge, but since then firms are using cash to reduce debt. General elections didn’t help matters, either. Key Points
ThePrintEV, AI, semicon favourites for VCs amid sluggish startup funding
Investments in the three sectors -- deep tech (including AI startups) climate tech and semiconductors -- have totalled $1.58 billion in 2023, in five months itself, according to data from Tracxn. Key Points
Economic TimesNot geopolitical tension, worried more about higher for longer rates: Sampath Reddy
“The domestic facing sectors have been currently doing much better especially the financials. The export-oriented sectors, especially IT, are still facing challenges in terms of overall growth. That is why the domestic facing sectors are much preferred. But within the exports, especially the pharmaceutical export, the generic pharmaceutical exports segment continues to do well. ” Key Points
Economic Times
High five! These 5 sectors gave double-digit returns in H12023
Real estate and manufacturing sectors outperformed cyclical sectors in the first half of 2023 in India. The realty sector registered about 20% returns in January-June 2023, against negative results of 19% in the same period last year, with the residential segment recording significant sales and sales launches during the same period. The S&P BSE Capital Goods index rose 20% from June 2022, riding on the governments focus on infrastructure and local manufacturing. Meanwhile, the power and oil and gas sectors saw almost no gains as the S&P BSE Power index dipped by 9%, while the S&P BSE Oil and Gas index saw a fall of over 10%. Key Points
Economic TimesTrends shaping the future of jobs amid layoffs
Despite confusion surrounding market conditions, layoffs, and AI impact, some Indian companies are hiring judiciously. Ernst and Young's Future of Pay report identified positive hiring sectors including cement, steel, auto components, renewable energy, and healthcare. A TeamLease Digital report for Q2 2023 found increased hiring intent in telecom, financial services, e-commerce, healthcare, pharma, FMCG, and infrastructure. Key Points
Economic TimesDisbursement of Rs 79 crore incentives under PLI for white goods expected in last quarter of this fiscal
Indian government is set to disburse around Rs 79 crore in fiscal incentives under the Production Linked Incentive (PLI) scheme for white goods in the last quarter of the financial year. The PLI scheme for white goods aims to promote domestic manufacturing of air conditioners and LED light components. Some selected beneficiary firms have already started production, contributing to the disbursement target. Key Points
Economic TimesNew PPP model on cards to woo infra investors
The frameworks emphasize the viability and bankability of such projects to make them financially attractive to private investors. Metro projects in cities like Bengaluru, Hyderabad and Pune, which bundle real estate with cash-generating potential, are being studied. User charges may be levied in sectors such as telecom, port and airports to make them more attractive to private investors. Key Points
Economic TimesGovt mulls tweaks to PLI for textile, pharma & food processing
The government is in the process of modifying the production-linked incentive (PLI) schemes for textiles, food processing, and pharmaceuticals. A cabinet note has been finalized to make these sectors more attractive for companies participating in the PLI program. The move aims to enhance investment in sectors beyond electronics, pharma, food processing, and telecom, which have been the primary beneficiaries of the PLI schemes so far. A ₹1.97 lakh crore PLI scheme covering 14 sectors, including textiles and pharmaceuticals, was announced in 2021. Key Points
Economic Times
Cabinet secretary to review progress of PLI scheme in all 14 sectors on Thursday
Cabinet secretary Rajiv Gauba is expected to review the progress of the production linked incentive scheme (PLI) for all the 14 sectors on Thursday, sources said. The meeting assumed significance as the government disbursed only Rs 2,900 crore till March 2023 out of Rs 3,400 crore claims received under the scheme. Key Points
Economic TimesThese 5 sectors gave superlative returns to investors in June; are the gains sustainable?
In June, the best-performing sectors in the Indian market were consumer discretionary, realty, healthcare, automobiles, and capital goods. The S&P BSE Realty, Healthcare, and Capital Goods sectors saw 9-10% upside. Smallcap stocks in the automobile and auto ancillary sector also performed well. Analysts remain bullish on the auto ancillary space due to strong automobile demand. In the capital goods space, 31 smallcap stocks had double-digit returns. The healthcare sector also gave good returns, with several stocks experiencing significant gains. However, banks, financials, information technology, and oil and gas sectors underperformed. Key Points
Economic TimesPLI scheme for leather sector on the cards
The government has announced PLI policy in 2020 with a potential outlay of Rs 1.97 trillion. It started with sectors like Active Pharmaceutical Ingredients and drug intermediaries, medical devices and large–scale electronics manufacturing. Key Points
FinancialexpressCore sector output dips to 5-month low of 3.6% in March
For the full financial year 2022-23, core sectors recorded a 7.6% growth compared to 10.4% in 2021-22 Key Points
The HinduCXO hiring unfazed by downturn in job market
Even hiring in technology sector - which has seen a sharp comedown overall - continues at senior levels, especially for niche skills in areas such as cloud, artificial intelligence and automation, as companies across sectors focus on digitising businesses. IT services firms with strong global ambitions are still hiring as well. Key Points
Economic Times
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 TimesETMarkets Smart Talk: Microcap space looks a little overvalued; auto, pharma, banks likely to lead next le
Sushant Bhansali, CEO of Ambit Asset Management, states that the microcap space appears overvalued and could experience a significant correction. He remains positive on sectors such as autos, pharma, banks, discretionary consumption, and chemicals. Bhansali believes that the Indian economy's fundamentals are strong, with expectations of continued double-digit growth for the Nifty index. He mentions that rising crude oil prices may delay rate cuts but is not overly concerned due to stable currency and strong economic fundamentals. Key Points
Economic TimesIndia needs 8% growth to topple China as global driver, Barclays says
Barclays estimates that India's economy needs to grow at a rate of 8% per year in order to surpass China as the largest contributor to the global economy. To achieve this, the country should focus on investing in traditional sectors such as mining, utilities, transport, and storage, which have stronger spillover effects on the broader economy. The government needs to increase investment in these sectors, which have been neglected in favor of newer industries. Higher investment in traditional sectors can also have a positive impact on employment and household income. Key Points
Economic TimesNew stars will emerge in rail & defence sectors: Harshad Patil, Tata AIA
Harshad Patil of Tata AIA foresees sustained government momentum in infrastructure amidst the 2024 election year. Anticipates emergence of new stars in investment landscape, focusing on roads, railways, and defense sectors for value creation opportunities. Patil also says would identify companies in bank and IT sectors with stronger growth potential and favourable risk rewards. Key Points
Economic Times3 sectors Atul Suri is bullish on for multi-year outperformance
Fund manager Atul Suri is underweight on banks and is betting on sectors making new heights like electrical equipment, engineering, and defence. sectors that have underperformed for a long time could be opportunities for multiyear or multi-quarter outperformance. Getting themes right is 70% of the work done in picking stocks. Key Points
Economic Times
Sugar, FMCG sectors can be part of the portfolio now: Anshul Saigal
Kotak Mahindra AMC's CIO, Anshul Saigal, believes that the sugar industry is attractively poised due to rising prices and improved industry structure from the ethanol policy. However, the agrarian stocks like UPL, Rallis, and Tata Chemicals have consistently failed to deliver despite their potential. Saigal suggests splitting the sector into various buckets, such as agrochemicals, food-related sectors, and those that benefit from food price increases, and investing in the sectors that suit an investor's needs at a given time. Key Points
Economic TimesETMarkets Smart Talk: Market could decline 20-25% from current levels by end of FY25: Amit Goel
Amit Goel predicts a global bear market, advises a multi-asset approach. He also warns of overvaluation in defensive sectors and discusses post-election sector performance. Goel further anticipates minimal crude oil impact on equity markets amid global rate cuts. Goel says: We would advise our investors to be extremely underweight in mod and smallcap segments and have a multi-asset approach in their portfolio Key Points
Economic TimesPLI scheme allocation hiked by 33% in Budget 2024
BUDGET ANNOUNCEMENT: The Narendra Modi government has increased the budget for the Production-Linked Incentive (PLI) scheme to Rs 6,200 crore for FY25. The scheme, which currently covers 14 sectors, has attracted investments of over Rs 1.03 lakh crore and generated employment for over 6.78 lakh individuals. However, concerns have been raised about limited employment generation in sectors like leather, garment, handicrafts, and jewelry. Key Points
Economic TimesEMarkets Smart Talk: Looking for wealth creation ideas? Sandeep Bagla lists 8 themes for future investing
Sectors like banking and financial services, railways, infrastructure, and defence are likely to continue being favored sectors. Select manufacturing companies could perform well due to PLI schemes and production base diversification. The themes for the next few years are manufacturing, renewables, digitisation, infrastructure, urbanization, premium consumption, financialization of savings, and the rise of equity savings cult. Key Points
Economic TimesAI in India: Jobs evolved, not erased - opportunity and reskilling key, experts claim
AI in India: India's job landscape is experiencing a seismic shift driven by Artificial Intelligence (AI). While routine tasks in sectors like data entry and call centres face automation, a surge of opportunities is blossoming in data science, engineering, and machine learning. Key Points
mint
Rs 53,500 cr PLI investment till December 2022, govt disbursed Rs 2,874.71 cr till March
PLI schemes for 14 sectors were announced during the Covid pandemic in 2020 with an outlay of Rs 1.97 lakh crore to boost domestic manufacturing and exports. Key Points
Economic TimesRs 53,500 cr PLI investment till Dec’22, govt disbursed Rs Rs 2,874.71 cr till March
PLI schemes for 14 sectors were announced during the Covid pandemic in 2020 with an outlay of Rs 1.97 lakh crore to boost domestic manufacturing and exports. Key Points
Economic TimesETMarkets Smart Talk: Old economy sectors likely to drive markets for next 2 years: Anirudh Garg
In 2021, the market underestimated the Feds inflation warnings. Today, as the Fed signals a shift towards reducing interest rates, we are at the cusp of a new phase in the economic cycle. After a strong run fueled by defence, railways, power, and infrastructure sectors, we foresee support coming from interest rate-sensitive sectors. Key Points
Economic TimesHidden gems? Harish Krishnan on 4 dark horse sectors worth betting on now
Harish Krishnan suggests potential dark horse sectors for investors, highlighting pharmaceuticals, metals, consumer durables, media. Real estate and select sectors in the investment cycle show positive momentum, while market expected to shift towards growth and quality sectors. Krishnan says far more sanguine about the growth-oriented and quality-oriented sectors. There is always going to be an intersection of some of the PSUs within that pack. Key Points
Economic TimesChina hints of more targeted stimulus to boost economy
China's central bank plans to guide money into key sectors to boost the economy, following an unexpected reserve requirement ratio cut. The bank is expected to steer credit into select areas, reduce cash reserves for banks, and implement modest policy-rate cuts. Key Points
mint
Next one to get re-rated? 7 PSU banks with upside potential of up to 38%
There are many sectors which have seen a re-rating in the last nine years. Especially in sectors like railways, defence where both the policy direction and funds both come from the government have seen a strong performance. There is another sector where policy making has an impact but it takes more to show its impact that is PSU banking space. With better than expected GDP numbers and the fact that state elections have thrown results, which street would take a sign of continuation of the current policies of clean up of the sector, will PSU banks see another round of push. ? Key Points
Economic TimesValuations of largecap stocks reasonable and returns to be in line with earnings growth: TRUST MF
Valuations in Indian largecaps are reasonable and we expect 15% or more earnings growth in the next couple of years. sectors and sub-sectors like capital goods, defence, railways capex, electronics and durable manufacturing, construction, renewable power, power transmission & distribution, China-plus-one theme plays, beneficiaries of the production-linked schemes, chemical and pharma companies etc. are mostly represented only in the mid and smallcap space. Key Points
Economic TimesPrivate capex yet to get broad-based, experts differ on next year’s trajectory
“It can be concluded that investment activity is not yet broad-based. It is in limited pockets. In terms of overall share, around 43% of the industries by size of fixed assets performed better than the average. Five major sectors, however, continue to trail, which includes power and telecom,” said Madan Sabnavis, chief economist of Bank of Baroda. Key Points
Economic TimesGood days are back? 5 stocks from capital goods and engineering sector with upside potential of up to 35%
Capital goods and engineering companies had faced tough times for many years. The reason, there was hardly any capex in many sectors of the Indian economy. This changed in 2014, when the new government took over. Road and infrastructure sector got a big push and all the companies in that sector saw their order book growing sharply. Over a period of nine years, many other sectors have seen a sharp increase in their capex. Right from railways to defence all of them have seen increased outlays leading to sharp improvement in the bottomline of the companies in the whole chain of companies. Given the capacity utilisation which some other sectors might see in near term, some more engineering and capital goods may come into focus. Key Points
Economic TimesShibani Sircar Kurian on 4 sectors one can be positive about now
Within banks, if you look at the way the entire segment has played out, the larger private banks, despite the fact that they have seen improvement in terms of profitability, have not seen multiples re-rate. Therefore, their multiples remain at long-term average levels, despite seeing significant improvement over the last couple of years where return ratios are concerned. Key Points
Economic Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/A7FMK4CORRPNZHRSJGMM5PWRLA.jpg)
Bumper earnings will broaden a narrow tech-led stocks rally, analysts say
A handful of technology firms and last year’s laggards have so far driven the heady rise in U.S. and global stock markets this year, but bumper earnings surprises could now lift more sectors and stocks and broaden the rally, analysts say. Key Points
ReutersOne-way street! As Nifty defies gravity, equity investors risk turbulence
While the headline valuation may not look very expensive, it could be misleading due to the large contribution of banks to overall profits of Nifty. A sectoral break-up of net profits of Nifty50 index across shows that the contribution of banks has gone up from 21% in 2022 to 27% in 2023. Key Points
Economic TimesCentre not considering any new PLI schemes: DPIIT secretary
The focus now is to strengthen and support the existing PLI schemes across 14 key sectors. But the decision will be a setback for sectors like port and shipping, heavy industries, steel and mining sectors, which were looking at new PLI schemes to manufacture import substitution products. Key Points
mintIs all the bad news and views priced in ? 4 stocks from the natural gas sector for contrarian trade.
Gas stocks have been underperforming the market for quite some time. The argument against them has been multifold, right from stagnation in terms of volume growth, companies not being able to expand in newer areas and the latest one being the threat from EV. Couple of months back, an announcement about pushing the electric vehicle (EV) more aggressively in Delhi, brought pressure on the stocks like IGL. While there is no doubt that over a period of time, EV will dominate, does it mean the end of the business of the gas companies? The answer is probably no, there are many other use cases and narrative about negative impact might be over stretched. Also the street might be ignoring the fact that these companies have enough cash on the balance sheet and also cash flows from existing lines of business to move into new areas which are part of the EV eco system. Key Points
Economic TimesRevaluation call: Don’t write off businesses challenged by sunrise rivalry
Market players should take a rational relook at what such challenged industries are really worth. They may spot hidden value. Key Points
mint
Stay invested, we are not in a bubble zone, but remain watchful: Sumit Poddar, Tikona Capital
Sumit Poddar discusses the mixed outlook of the market, strong SIP flows, Q3 results, opportunities in smallcaps, and his view on the paint sector, including the entry of Grasim and the importance of the distribution side for competition. Poddar also says rather than looking at the size of the company, we are looking at the opportunity that these companies are offering. We are not necessarily buying it because it is either a smallcap or a midcap. Key Points
Economic TimesSectoral tailwinds and stronger balance sheets: 5 largecap stocks with right mix of two important ratios
There are some sectors where large players have an edge, because the nature of the business is such that there are phases where ability to stay in the game and cash on the balance sheet matter most. When the tide turns in favor of that sector, these large companies are able to make most of it. One sector which has gone through a phase of realignment of business and readjustment of valuations for many years and has once again come in limelight is the pharma space. Right from ability to deal with USFDA, not rely just on product segment to how to deal with uncertainty of supply chain which is dependent on China, Indian pharma companies have come a long way. Key Points
Economic TimesRs 95,000 cr investment in PLI till Nov: DPIIT review
As per the review, the government has approved 746 PLI applications till November 2023 and established PLI units in more than 150 districts across 24 states. Moreover, import substitution of 60% has been achieved in the telecom sector and India has become almost self–reliant in Antennae, GPON (Gigabit Passive Optical Network) & CPE (Customer Premises Equipment). Key Points
Economic TimesNext in line to get re-rated? 6 fertilizer stock ideas with four having buy reco and upside potential of u
While it has been slower as compared to other sectors, even the fertilizer sector has been witnessing policy changes which have intended to plug loopholes and increase the operational efficiency of the companies. Given the policy measures, it would be worth bringing them to watchlist because if a re-rating takes place then we could see a sharp move. But one thing which one needs to remember is that in such sectors some time invested capital can underperform for some time. Key Points
Economic TimesHelped by continuation of policy push: 5 largecap stocks from different sectors with upside potential of u
There are many sectors which have been able to do well because of policy push by the government. Many may not realize that “Tipper” which is a kind of light commercial vehicle ( LCV) did extremely well due to the fact that it is used in road construction and in the last eight years, that has done extremely well. Similarly a tile company did well because there was a housing boom and auto ancillary which was focussed on EV did well due to push to EV. Now with increased probability of continuation of policy push, some of these sectors and companies are likely to see continued tailwinds. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market. Key Points
Economic Times
Indian Stock Market at record highs. sectors and stocks that experts are betting on
Stock Market today- Indian Stock Market gained and indices hit record highs for second straight day. Analysts remain positive of domestic focused stocks. PSU banks and PSU stocks in power, energy, defence, cap goods, NBFCs, as- well-as sectors as real estate and Cement are where experts see value. Key Points
mintWells Fargo sees economic "soft patch" capping further S&P 500 gains
An upcoming "economic soft patch" will likely weigh on the recent U.S. equity rally and stall sectors such as consumer discretionary and small-cap stocks, strategists at the Wells Fargo Investment Institute warned in a note on Monday. Key Points
ReutersDomestic factors keep India's white-collar job market resilient despite overall slowdown in job creation
Companies in sectors including manufacturing, BFSI (banking, financial services and insurance), oil & gas, real estate & construction, auto & auto ancillary, FMCG (fast-moving consumer goods), retail, electric vehicles (EV), telecom, and travel & hospitality are looking to hire this quarter, experts said. Interestingly, while IT/ITeS and startups have seen a sharp comedown from last year's hiring frenzy, tech talent continues to be the most in demand as non-tech industries are undergoing a digital transformation. Key Points
Economic TimesIndia’s private capex to see a material uptick over FY23-24, but risks remain: Fitch
Corporates in India are likely to step up their capital expenditure plans in the coming few years, materially higher than in the previous two fiscals with a focus on capacity expansion across industrial sectors, Fitch Ratings said. Capex was flat over FY19 to FY21 and grew 16% in FY22. The forecasts are for the 8 state-owned enterprises and 21 privately held Fitch-rated corporates in the country. Key Points
Economic TimesHardeep Puri hosts 'Vishesh Sampark Abhiyan'; leaders, experts discuss digital revolution under PM Modi
New Delhi [India], May 20 (ANI): Union Minister Hardeep Singh Puri hosted a ‘Vishesh Sampark Abhiyan’ event at his residence on Monday. The event brought together leading IT professionals, innovators, startup leaders, and intellectuals to discuss the country’s digital transformation and future potential under the visionary leadership of Prime Minister Narendra Modi. Show Full Article […] Key Points
ThePrint
Ram Mandir economy: Tourism, hospitality sectors get temple boost in Ayodhya
The Ram Mandir will provide a massive boost to several sectors in Ayodhya, including tourism and hospitality. Here is all you need to know. Key Points
India TodayPSUs, Govt bodies sensitised to Chinese investment, tech
PSUs have also advised not to source from China for sectors such as atomic energy, broadcasting, print and digital media. defence, space, and telecommunications. Certain other sectors including power, civil aviation, mining, railways, health, and urban transportation are also considered sensitive where procurement from China has been discouraged, ET has learnt. Key Points
Economic TimesJapanese and Korean cities to be developed in Noida, authority allocates land. Here are details
Authority has allocated two sectors for the establishment of 'Japanese' and 'Korean' cities in Noida. The 'Japanese City' will span 395 hectares, while the 'Korean City' will cover 365 hectares. The proximity to the Noida International Airport in Jewar is expected to enhance connectivity. The projects will also include residential units, schools, hospitals, and other amenities. Key Points
Economic TimesSalary hikes likely to remain flat this year
Engineering firms and non-banking financing companies (NBFCs) are likely to give hikes of over 10%, according to Aon. This set is followed by automobiles, financial institutions, fast-moving consumer goods (FMCG), tech platforms & products, professional services and global capability centres (GCCs), where increases are seen in the 9.5-9.9% range. Key sectors that see increases slowing include ecommerce (to 9.2% from 9.6%), retail (8.4% from 9.2%), startups (8.5% from 9%), and tech consulting & services (8.2% to 9.1%). Key Points
Economic Times