We could see the biggest bull run for next five years; stay invested: Varun Saboo
“Power is a multi-year story. The power stocks have just started reacting. There can be a very sharp run from here also. Although we do not have any formal coverage, I am again highlighting that this space itself is becoming very attractive. So, the power story can be interesting. ” Key Points
Economic TimesAre FIIs and their favourite largecap banks going to lead the next leg of market rally? Mayuresh Joshi ans
“A proxy to the Indian economy, L&T has been playing this very, very well over the last few years and will continue to do so over the next few years. And with the visibility that we are seeing in terms of capex and infrastructure spending, Sanghvi Movers can be one stock where utilization levels can inch up even higher, creating a better yield. So, L&T from largecaps, Sanghvi Mover from the midcaps.” Key Points
Economic TimesPositive on Q3 due to deferred festive demand, expect to get back to double digit volume growth: Amit Syng
“We have done well in the Middle East market and parts of Africa which is Ethiopia; however, the overall market in Asia has been hit very strongly, especially markets of Nepal and Bangladesh. We feel that the global markets will be slow to recover and we are not seeing an immediate recovery in Q3 in terms of the global markets.” Key Points
Economic TimesIs there any fresh trigger for Reliance Industries other than value unlocking? Mayuresh Joshi explains
“There is a lot of value that the Street is probably giving to both these elements of businesses as well. For Jio, the equity value is probably coming out anywhere between Rs 725 to 775 on a standalone basis. For Reliance Retail, anywhere between Rs 1,250-1,350. So there is a broad construct in terms of the expected SOTP valuations within the entire group itself.” Key Points
Economic TimesMarket likely to settle down after the big correction and a sectoral rotation will be at play: Mayuresh Jo
Our sense is that the markets might just settle down after the big correction that we have probably seen and a typical sectoral rotation will be at play. We have already seen pharma starting to hog the limelight. More defensives will probably come up in terms of the sectoral rotation as we consolidate over the next few days. Key Points
Economic Times
Automobile industry to find growth a bit more challenging this year: Mahantesh Sabarad
Auto sales are rising sharply due to the pent-up demand caused by the Covid effect, but many auto companies have not met expectations in terms of results. For the year ahead, the automobile industry may find growth more challenging, with a muted volume and profitability growth. On the other hand, electronic manufacturing services have seen strong growth, driven by the new PLI scheme and a sharp increase in demand for electronic components and items. Key Points
Economic TimesOurs is going to be a second half story; I would be a buyer on any kind of dips: Andrew Holland
Andrew Holland expects earnings to improve in the second half of the year for the Indian market, boosted by decreased input prices for raw materials, metals, and oil, along with increased government and private spending for the capital expenditure. He is optimistic about the banking sector and believes the banking index will take the lead in pushing the financial sector higher in India. While he does not recommend buying NBFCs, he sees potential in the premiumisation of beverage consumption and is keen on investing in the electronics industry. 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 TimesOverweight on defence, very positive on banks: Vipul Prasad
India's fundamental backdrop, coupled with disciplined stimulus during the Covid-19 pandemic and graded monetary policy from the RBI, positions the country well for future growth, says the Founder & CEO of Magadh Capital. While the market is expected to be volatile for the next six months, India's infrastructure build-up, gains from the reform process, and economic strength make it look good from a 2-3 year perspective. Key Points
Economic TimesMarket to remain volatile, better to be in these 4 sectors: Shibani Sircar Kurian
“The domestic facing companies and sectors continue to be better placed in this volatile market. So, banks, industrials, automobiles, cement are some of the segments where we continue to remain positive as compared to the global cyclicals. We have to be pretty much stock specific in FY24 as a whole.” Key Points
Economic Times
What are the sectors to position in for the next market upcycle? Abhishek Basumallick answers
Banking, NBFCs, and MFIs are good places to invest as the Indian banking sector has cleaned up its books, making credit growth pick up significantly. Capital goods and power sector are well-poised for growth in the next 2-3 years with high government investment in railways, highways, and airports. Companies in the capital goods sector, despite some trading at high price-to-earnings ratios, are expected to contract PEs due to anticipated high growth in the next few quarters. Additionally, the pharma sector is expected to show strong earnings growth in the next 2-3 years. Key Points
Economic TimesRoku is disabling users' smart TVs and streaming devices, here's why
Roku, the device and smart TV platform, has come under fire for its controversial decision to disable users' devices until they agree to the company's updated dispute resolution terms. The move has left many users frustrated and unable to access their TVs and streaming devices. Key Points
Times Of IndiaFMCG stocks may face both time and price correction: Mayuresh Joshi
FMCG companies such as HUL and Nestle may need to increase their advertising spending to drive volume and value growth. The anticipated volume growth for HUL and Nestle has been lower than expected due to moderate rural discretionary spending. However, analysts believe there will be a strong rural recovery in the second half of the year, which will benefit FMCG players. Valuations for HUL and Nestle are not cheap, so their stocks may experience corrections. ITC has reported reasonable numbers, with the cigarette volume growth being a key factor to watch. Key Points
Economic TimesMayuresh 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 TimesAvoiding Mamaearth IPO; IT in value zone but near term future clouded: Hemang Jani
According to Hemang Jani, Independent Market Expert, the IT sector has entered a value zone, making it attractive for investors with a medium to long-term view. However, he cautions that the near term will continue to be affected by sluggishness in growth and tech spending sentiment. Jubilant Food's weak demand environment is expected to weigh on margins and earnings growth. Jani advises caution when considering the Honasa IPO, as the company is still loss-making. IndusInd Bank has been a strong performer and is seen as an attractive option in the banking sector. Key Points
Economic Times
Shibani 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 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 TimesAfter churning out multibaggers, OG fund manager Rajeev Thakkar says it’s time to be a conservative invest
“A Nifty 21 multiple may not seem very, very expensive. But when you look at the individual company valuations, some trading at 70, 80, 100 times earnings or some of the newer listings coming on prospects of future profitability and just focusing on growth, that environment has changed and one should be cautious on that front.” Key Points
Economic TimesNifty financial service index stocks: Are headwinds slowing down?
In the last three years, different segments of financial service have witnessed very different trends. Trend not in terms of business but in terms of headwinds or tailwinds. While the large private banks have stagnated, some of the small private sectors have come back into the limelight. PSU banks as a pack have made a comeback, insurance companies are still searching for direction, asset management companies have been able to get their mojo back while NBFC are facing new challenges in terms of higher provisions to regulatory. So,each to own it probably defines when it comes head or tailwinds. But what is the common factor is that most of these have a high FPI holding. Now FPIs have largely been the seller in the Indian markets, occasionally they have made a comeback for a short period of time. At this point of time, they are neither major buyers or sellers, but this equilibrium will change. When that happens, it is this set of 20 stocks which will signal which way the wind is blowing for which segment. Key Points
Economic TimesWhat could be the big themes for 2024? Pawan Parakh answers
Pawan Parakh says: “Banks are one space which should bounce back in the next calendar year. Apart from that, the capex cycle recovery is a theme which is very strong out here. So, industrials, infrastructure is another theme which we think should continue to do well and when I say that, I also include a lot of these allied spaces like power, power ancillary, defence kind of stocks.” Key Points
Economic Times
See eventual split in platforms for ICE, electric passenger vehicles: Tata Motors' Martin Uhlarik
Tata Motors plans to eventually split the platforms for its conventional engine and electric vehicles to create unique products and fully harness the potential of electric vehicles. The company's Global Head of Design, Martin Uhlarik, stated that electric vehicles developed on traditional platforms are hindered in terms of range and battery layout. Key Points
Economic TimesHow should your portfolio be positioned in a risk-off environment? Rahul Singh answers
Rahul Singh of Tata Mutual Fund, emphasizes the importance of asset allocation and balanced portfolios in managing risks in the current market scenario. While global factors such as rising yields and the strengthening dollar index are impacting valuations, India's strong fundamentals and growth potential are expected to limit sharp corrections. Singh advises investors to focus on the right asset allocation and maintain a balanced portfolio. 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 TimesFor long-term investors looking for midcap exposure: 4 stocks with right PEG ratio
The problem with PE ratio is that it not only creates a mirage in terms of buying of a stock. But even selling stocks just because P/E is high is also something which leads to selling wealth creators early and then regretting or buying them at a point when they are expensive in real terms. So it is better to use peg ratio, which comes with its own challenges, which are still worth taking. Key Points
Economic TimesExpect RBI to cut rates in first half of next calendar year: Shibani Sircar Kurian
“Our best guess in terms of RBI's rate action would be that possibly the central bank would wait to see how the US Fed is reacting and then take a view in terms of rates. So, yes, sometimes maybe in the first half of next calendar year, our best guess would be at this point in time.” Key Points
Economic Times
We will see slightly better growth at Infosys than at TCS in near term: Sumeet Jain
So, I guess it is a wait and watch mode as of now. But if you talk about digital transformation and the cloud migration tailwinds, that are pretty much intact. Key Points
Economic TimesDon’t expect recovery in FMCG before FY25: Abneesh Roy
Abneesh Roy says: “In our view, in Q3, most of the companies will see flat to low-single digit volume growth in the rural areas while urban areas will be growing faster. Even in Q4, we do not see a big recovery in rural demand currently. Our sense is the recovery will happen in FY25, based on Rs 1 lakh crore election spending, government stimulus, freebies, etc.” Key Points
Economic TimesDeal values plummet 78 pc between January -June due to economic challenges: Report
India's deal-making activities declined in the first half of 2023 due to uncertainty causing supply chain disruptions, leading to inflation and fluctuating interest rates, according to a report by Grant Thornton Bharat. Only 676 deals with a total value of $ 23 billion occurred in this period, representing a decline of 78% and 42% in value and volume, respectively. Key Points
Economic TimesBillion-dollar club: 49 firms exit, 23 make entry
The rupee, it is worth noting, depreciated 8.43% against the greenback during the financial year. Key Points
FinancialexpressMid and smallcap rally continues; capex linked sectors may grow 30-40%: Vinit Sambre
“Segments which are linked to the broader capex side of the story, are showing good growth and the narratives are very strong. As we look towards the economic upcycle over the next few years, some of these companies are going to grow meaningfully 30-40% higher from where they are in terms of their business revenues. ” Key Points
Economic Times
Top 10 companies in the world by market value
Uday Kotak tweeted to say 9 American, 1 Saudi. no European, Chinese or Indian company as the top 10 companies in the world in terms of market cap. Key Points
mintWill Tata Motors enjoy a twin-engine effect for the next 2-3 years? Here’s what CFO Balaji says
“India PV business continues with their plan because we do expect that even if we assume that 30% of the auto market will become electric, the remaining 70% is still ICE. Therefore, we will continue to have offerings on that front. There is a clear rub-off from the EV business onto the PV business in terms of brand salience, as well as the brand imagery.” Key Points
Economic TimesInvesting long-term? Start accumulating stocks which have been hammered 20-40%: Rahul Sharma
Rahul Sharma suggests focusing on largecaps for alpha generation, while considering smallcaps and midcaps at discounted prices. Nifty's positive trend and sector leaders' performance support an optimistic outlook for FY25. Sharma says: As we have seen in the past, corrections have been bought into and this time also, it does not seem any different. Key Points
Economic TimesNo, India’s richest don’t live in metros. These findings may surprise you
India News: Discover the surprising findings about where India's richest live and how they earn their money. Get insights into the profile of the richest 20% and the need to recalibrate popular assumptions. Find out why lazy marketing needs to rethink its assumptions and accept the reality. Read more. Key Points
Times Of IndiaIs it time for them to get re-rated? Only for moderate risk takers, 5 mid & small-sized PSU banks
When a sector gets re-rated, it is the leader of that particular sector which tends to get the attention in the first leg. If the fundamentals of that sector continue to improve, then companies which are lower than in terms of scale and size are the ones which tend to get re-rated. If one looks at the re-rating of PSU banking space, the likes of SBI, BoB had started to do well some time back. But the mid and smaller PSU banks, not smaller when one looks at the market cap, but in terms of geographical presence and overall size of the business are likely to get more attention now. There are multiple reasons for it: GDP growth rate has a strong correlation with credit off take, which will be visible even in the books of these banks. Some of these banks started their digital journey late, the impact of which will be visible in the coming quarter. Key Points
Economic Times
Starting out in tech stocks? Start with small tranches within midcap IT, says Mayuresh Joshi
“Anybody who is not invested to answer your questions can start with small tranches within the midcap IT space. We like a couple of names which we hold in our global list. Cyient we continue to like because of its diversified book, expectations of stable revenue growth and Firstsource Solutions meets a lot of our criteria in terms of revenue expectations, capacity utilisations, decent amount of DSO days and a decent amount of diversified book.” Key Points
Economic TimesQ3 is definitely looking better for Bajaj Electricals: Anuj Poddar
“In the current quarter, we have had a contraction in general trade. A lot of that is led by weakness in the rural markets. But if we look at all our alternate channels, whether it is e-commerce, modern trade, institutional sales, they have all seen extremely healthy double digit growth for us, which is why again, I am confident. Key Points
Economic TimesGo for banks strong in corporate banking: Mahantesh Sabarad
Mahantesh Sabarad, suggests that the outlook for the banking sector could favour those banks that are better positioned in terms of their corporate banking vertical, as corporate banking is expected to show faster growth, even in terms of overall NIMs. Most banks have reported steadier or improved asset quality numbers. In terms of the private banking names, Sabarad suggests that banks like Kotak Bank and HDFC Bank are better positioned in personal banking and loans, whereas ICICI Bank and SBI are better in terms of corporate banking. Key Points
Economic TimesThere's no fear that we are slipping into a bearish stock market: Sunil Subramaniam
“Emerging market flows could be under pressure and which is what we have been seeing for quite a few months. India was the last man standing, most emerging markets had been getting outflows from three-four months back, India held down till end August and it was only in September that we got a little bit of a shock in terms of outflows.” Key Points
Economic TimesTCS management is confident that FY25 will be better than FY24. Here’s why
K Krithivasan says: You cannot look at the deal wins in the same lens as revenue. It does not follow the same revenue trajectory because there is always a certain amount of lumpiness as a timing issue. You need to look at over a long period of time, over the last four quarters, how the deal wins have been very strong. And this quarter, it is not aided by any mega deals because mega deals tend to be lumpy and all come from mid-sized deals. We are very happy with what we achieved in terms of deal wins. Key Points
Economic Times
Wipro has margin headroom available in terms of improvement ahead: Mahantesh Sabarad
Mahantesh Sabarad notes that while there was no QoQ growth, the margin beat of 16% is surprising. He attributes this to the restructuring of Wipro's businesses and reallocations of costs. The margin beat is led by strong operational improvements and automation-led efficiencies. Sabarad expects the beat to sustain due to continuing deal wins. 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 TimesFrom fintechs to NBFCs – A bridge too far, and other top tech & startup stories this week
After the issues with IL&FS and DHFL, the regulator has become very concerned about the NBFC sector. Also, a clutch of unscrupulous Chinese players playing around in the lending space without any formal regulatory nod sent alarm bells ringing at the RBI. As a result, fintechs find themselves under tremendous scrutiny when they apply for an NBFC licence. Key Points
Economic TimesIf market gives up 1,000 points in Oct-Nov, one can start fresh allocations: Sandip Sabharwal
In the near term, my personal view was that the market should remain fine till September. Market moved up from 16,800 to 20,000, a 3200-point move. In October-November, if we get a deeper correction and if the markets give up around 1,000 points of gains, then we could be looking to start buying in terms of fresh allocations. Key Points
Economic TimesIs it time to invest in the urban consumption theme? Siddhartha Khemka answers
Retail and leisure companies in India have seen a gradual improvement in overall demand with the easing of cost pressures and some companies taking up price hikes to improve profitability. Companies such as QSR, retail and leisure segments, such as Trent, Shopper's Stop, Sapphire, and Devyani, have recovered due to strong discretionary spending from consumers. Key Points
Economic Times
Bias of volatility may have changed: 5 largecap stocks from different sector with upside potential of up t
Somehow word volatility got associated with bearish trend, while it might appear strange to some, the fact is that even volatility has a bias and that can be toward bulls also. In the last few sessions that bias has changed toward bulls. Broader market indices have been able to recover sharply from their lows when they have opened down lower. At this point of time when sectors like banks are leading it, there is a high probability that we might see more of it in the coming weeks. The only caveat is that the earning season which will be starting with large cap IT companies deliver extremely bad surprises then all bets are off. But don't lower guard in terms of stocks selection, stay with the one where the sectoral macros are positive and individual companies have a track record both in terms of financial and management ability. Key Points
Economic TimesElon Musk's Lawsuit Against a Group That Found Hate Speech on X Isn't Going Well
X alleges that the Center for Countering Digital Hate cost it millions by showing that hate speech was spreading on the platform. In a hearing Thursday, a federal judge sounded skeptical of those claims. Key Points
WIREDMaruti to hike prices in January across models; sedan inventory continues to be high: Shashank Srivastava
“I would expect December 1 stock levels to be the same as November 1. November 1 was a little more confident because we had 15 days of auspicious period. So it really requires that the inventory levels should come down from here and that means that the wholesale numbers for December should be low in the industry.” Key Points
Economic TimesFor volatile markets bearish bias: 5 largecap stocks from different sectors with upside potential of up to
Ranging from high valuation to event risks in the current quarter in terms of state elections, the global issues, both geo- political tension and high probability of hike in US interest rates. These all things were being ignored by the markets as the liquidity was ensuring that markets move upward very sharply. Finally, markets are waking up to some reality, there is a very likelihood that as adjustment of the global flows continues to happen, we might have more volatile movement. During this phase, if one is looking for investing, it might be better to stick with large caps as they would be better placed weather the volatility. 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 TimesFor bearish bias in volatile market: 5 largecap stocks from different sectors with upside potential of up
Even markets are volatile, there is an underlying bias to volatility, it could be bullish or bearish. This bias is reflected in two things, first the market breadth which is essentially how many stocks are moving upward or downward. On a large number of days, market breadth is showing that its bias is toward bears. Because this correction is coming at a time when the global situation is not so good, both in terms of interest rate and also higher geopolitical risks, it would be better that “caution” should be added when decisions are taken about investing and sticking to largecap. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks that fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market. Key Points
Economic Times
Expect 21% growth in Nifty earnings for this quarter: Siddhartha Khemka
“In terms of valuations, wWithin the cable and wire segment, PolyCab and KEI are the two companies which have been come up with consistent earnings delivery. Those are the places to play the housing theme or the real estate theme. These two companies could be the preferred picks within the segment. ” Key Points
Economic TimesSecond & better attempt; 5 Indian pharma stocks with upside potential of up to 31%
Both, in terms of bottomline and stock price performance, pharma stocks had been under pressure for a long time. Partly this under performance was due to over valuation at which these companies were trading since 2015. Also stocks came in the overowned category for both the institutional and retail investors portfolio. Last but not the least, close to 2014, USFDA inspections became both more in numbers and stricter, many companies which assumed that they can take care of anything, got a rude shock. After all the head and tailwinds, many companies which had changed their focus, fruits are visible in terms of them moving into new markets and better financials. 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 TimesIn times of volatility: 5 largecap stocks from different sectors with upside potential of up to 31%
Last three weeks have seen a sharper correction both in terms of what nifty and sensex have witnessed but also in terms of market breadth coming underpressure. Now because this correction is coming at a time, when some events risks are on the domestic front and also because of developments in the US. It would be better that caution should be added to the decision making in the stock market. 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 TimesIn times of volatility: 6 largecap stocks from different sectors with upside potential of up to 35%
Last three weeks have seen a correction both in terms of what nifty and sensex have witnessed but also in terms of market breadth coming underpressure. 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
Be slightly cautious and take some money off the table: Varun Lohchab
Market experts suggest that the current earnings season in India has been lacklustre, neither a big hit nor a miss. While largecaps do better when inflation is high, midcaps and smallcaps might do better this quarter on account of easing commodity inflation pressure. However, the overall upside in the market looks capped for the rest of the year, and it may be time to reduce equity exposure. Consumer discretionary, capital goods, and some autos and cement stocks are starting to look expensive and overbought. Key Points
Economic TimesNeutral on IT; prefer Tata Motors & Ashok Leyland in auto: Siddhartha Khemka
According to Siddhartha Khemka, Tata Motors and Ashok Leyland are the preferred picks within the overall OEM space, with commercial vehicles performing particularly well. Although the IT sector has reported weaker results, midcap and tier II companies have reported strong numbers and growth outlooks. Pecking order for tech majors places TCS and HCL Tech in the lead among large caps and Persistent and Cyient among midcaps. Key Points
Economic TimesUPI volume, value rise to record highs in April
FASTag transactions in April rose 15% y-o-y to 305 million in April. In terms of value, it 22% y-o-y to Rs 5,149 crore. Key Points
FinancialexpressThe curious case of outsiders in Bollywood. Are they really the 'outsiders'?-Entertainment News , Firstpost
Having made a grand entry in the industry, these actors are an integral part of multiple big-budget films, despite their low screen value. Neither can they attract good footfalls in the theaters nor can they shoulder a film alone at the box office. Key Points
Firstpost2023 will be a volatile year; use stock rotation and buy on dips: Sandeep Tandon
Stock rotation is the theme to play within a volatile market, according to Sandeep Tandon, Founder of Quant Broking. He believes that the buy on dips strategy should work now and that any events unfolding because of the global situation should be used as a buying opportunity. Tandon also explained that Quant Broking has experienced AUM growth due to the trust of lakhs of investors and distributors in their processes, risk management system, and investment framework Key Points
Economic Times
Indian economy gaining momentum since second quarter, emerges from pandemic stronger
RBIs economic research wing headed by deputy governor Michael Debabrata Patra argued that the sequential slowing down in successive quarters of 2022-23 is due to base effect. As for the data, Indias gross domestic product (GDP) for the October-December quarter moderated to a three-quarter low of 4.4%, according to data released by the ministry of statistics earlier in the month. Key Points
Economic TimesWe are overweight on 3 sectors; largecaps attractive but opportunities in mid and smallcaps too: Karthik K
The market is experiencing stock specific movements, leading to uncertainty for investors. It is a time of indecision, as investors are unsure whether to enter the market or book profits. The current market movement can be seen as a healthy correction following a strong 2023. Additionally, the January to March quarter historically has negative returns. Key Points
Economic TimesRetail, O2C scored, longer term, it is green for Reliance: Mayuresh Joshi
Reliance Industries' oil and gas exploration segment has shown a significant jump in performance, with a 22% increase on a sequential basis and a 50% increase on a YoY basis. The current EBITDA number for the segment stands at close to Rs 5,800 crore. Mayuresh Joshi, Head-Equity Research-India at William O'Neil, expects the numbers to remain stable and increase at a reasonable pace. Key Points
Economic TimesKeep looking at opportunities and valuations around them: Harsha Upadhyaya, Kotak AMC
“Assuming that you are a medium to long-term investor, you enter in a disciplined manner on a staggered basis, a larger midcap fund is a good allocation that you can make in your portfolio. And it should give you stability of largecaps and also potential kick-up from midcaps with a reasonable control on the volatility overall.” Key Points
Economic TimesWe are very confident that H2 will be better than H1 of FY24: LTIMindtree CEO
“Our pipeline is very strong. We are closing deals every quarter. But having said that, we need to also account for the fact that many of the deals the decision cycles are very long. That is something which is worrying us and typically there is always a budget flush in Q3 because clients try to spend a little more but this particular year, we are not seeing that.” Key Points
Economic Times
After broader market, languishing largecaps will reverse: Mahantesh Sabarad
The big trigger now is that corporates will start looking at better performance ahead. One of the biggest inflation triggers is on the commodity side. Many of the companies, be it on the industrial side be or on the capital goods sides, are exposed to a large inflation footprint that came in with the commodities surge. That is now gradually abating and could provide the next possible trigger for most of the goods manufacturing companies. Key Points
Economic TimesIndia is in a longer term uptrend in both dollar and local currency terms: Laurence Balanco, CLSA
“If you look at the 20-day moving average, it has been a great card for that accelerated trend in the midcap index. By mid September, we started to test that 20-day moving average again. Two weeks ago, we broke below it and now we are seeing some choppy volatility around it.” Key Points
Economic TimesIn auto, prefer two-wheelers; Hero Moto top pick: Siddhartha Khemka
Sun Pharma reported better-than-expected earnings with EBITDA margins beating expectations. The stock reacted positively to the news. Voltas had weak performance, particularly in the project business, but the market reacted positively, possibly due to short covering. Blue Star, on the other hand, had strong results and a positive outlook. Battery companies like Exide and Amara Raja are showing good traction, but we have a neutral rating on them and prefer to invest directly in the OEMs. Our top picks are two-wheelers, with Hero Moto leading the pack. Key Points
Economic TimesShould we expect inline performance from IT majors in Q3? Mahantesh Sabarad answers
Mahantesh Sabarad says: “A mixture of events that has caused this underperformance on HDFC Bank overall. And within that mixture one cannot wish away what is happening to the banking sector per se. The banking sector is now on a high in terms of credit growth. The YoY credit growth number is upwards of 16% thereabouts.” Key Points
Economic TimesI see greater opportunity in largecap banks rather than chasing IPOs at high prices: Hemang Jani
“Typically when we see this kind of an exuberance and when the IPO listing happens at a much higher price than what people would have thought, this kind of a momentum is not great news for people who are looking to buy into the market having some sort of a missed out feeling. I would certainly say that let us not get too gung-ho on what is happening in the IPO market.” Key Points
Economic Times
Earnings 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 TimesWhat QIA investment means for Reliance Retail & Reliance?
The Qatar Investment Authority is set to invest $1 billion in Reliance Retail Ventures, valuing the company at $100 billion. This is a significant increase from its previous valuation of $43 billion in 2020. The investment reflects the growth and potential of Reliance Retail Ventures, which has seen an increase in its customer base and operates through an integrated offline and online network. The deal is seen as a positive development for Reliance Industries and highlights the strength of its retail business. Key Points
Economic TimesByju's interest cost on term loan may jump by $50-60 million a year under new terms
Edtech firm Byju's may have to pay an additional $50-60 million annually in interest on its $1.2 billion term-loan facility as part of new terms with lenders, people aware of the matter said. Key Points
Economic TimesYou don’t mean that: Sadness is not depression, restlessness is not ADHD...
But you already knew that. See why these terms are everywhere, and trace the very valid history of semantic inflation. Key Points
Hindustan TimesIn Q3, Berger Paints had 9.1% growth; in Q4 trends should be similar: Abhijit Roy
Abhijit Roy says: We have always had big competition within the industry. There are major players there already both domestic and international and we have been fighting. So I do not see anything majorly changing, of course, there is a very big player coming in in March-April and that might shift a little bit in terms of the growth rates but it is not going to be a very tangible effect on the overall revenue or profit growth. Key Points
Economic Times