EXPERT VIEW
SME IPOs: Why tighter norms are needed for merchant bankers & social media, says Ashvin Parekh
Ashvin Parekh highlights the critical need for enhanced regulations and transparency in India's SME IPO market. He emphasizes the roles of regulators, merchant bankers, and social media in mitigating misuse and protecting investors to ensure the market retains its credibility and does not suffer due to fraudulent activities and misinformation.
We have 0% exposure in defence stocks, have started nibbling into banks: Jyotivardhan Jaipuria
Jyotivardhan Jaipuria from Valentis Advisors shares insights on investments in bank stocks due to their undervaluation. He says, over time, one has to buy bank stocks because it is one of the few cheap places left in the market today. He discusses challenges in the cement and IT sectors, the high valuations of defense stocks, and emphasizes a long-term strategy for profitability as industries consolidate and recover.
Once rates are cut, will commodities & high-growth companies face reversal? Dinshaw Irani answers
Dinshaw Irani, CEO of Helios MF, discusses India's high real interest rates and their impact on private sector capital expenditure. He believes the private sector will wait for interest rates to decline before investing. He also highlights the stability of the banking sector and platform companies with globally established formulas as key investment areas.
Helios has been adding IT stocks & platform cos since July-end. Dinshaw Irani explains why
Dinshaw Irani, CEO of Helios MF, shares insights on the Indian stock market, focusing on the re-rating of India's PEs and the potential in the IT sector. Helios emerged positive on IT after TCS' results in July-end, noting growth opportunities compared to FMCG. Concerns were raised about the valuations and growth in other sectors.
After warning about SME IPOs, Sebi expected to take a lot of action: Ashvin Parekh
SEBI is set to enforce stricter regulations and penalties for misleading disclosures and social media activities by SMEs, which have led to financial losses for retail investors. The warning follows a surge in oversubscribed SME IPOs, raising concerns about inflated stock prices and non-compliance with governance standards. This heightened action aims to protect investor interests.
Got fresh money to invest? Don’t go chasing momentum; look at quality largecaps: Anshul Saigal
Anshul Saigal, founder of Saigal Capital, advises investors to focus on Nifty 50 and large-caps for new investments. He cautions against chasing recent market returns and identifies opportunities in the banking, pharma, and sub-premium real estate sectors. Saigal further stresses the importance of avoiding overpriced market segments to minimize risk.
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Don’t expect valuations to be cheap anytime soon; sector rotation keeping market healthy: Abhishek Basumallick
Abhishek Basumallick of Intelsense Capital discusses the Indian market's health and sectoral prospects. With a focus on IT, chemicals, pharma, auto, and manufacturing sectors, he anticipates steady growth over the next decade. He advises caution as valuations remain high but sees opportunities in new IPOs and rural consumption trends improving.
What does the scrappage policy mean for auto companies? Abhishek Gaoshinde explains
Abhishek Gaoshinde says India's scrappage policy aims to transition from an unorganized to an organized system, providing incentives for replacing older vehicles with new ones to curb pollution and foster a recycled economy. The policy remains voluntary, with its success contingent upon the value perceived by vehicle owners opting for the scheme.
IT & FMCG offer good value now; bide your time in pvt banks, chemicals: Nilesh Shah
Nilesh Shah of Kotak AMC advises focusing on quality over momentum in stocks and advocates for high-floating stocks and diversified ownership shares. He emphasizes the current reasonable valuations in the IT and FMCG sectors while suggesting a wait-and-watch approach for private banks and chemicals. He cautions against overpaying for small-cap stocks driven by market froth.
Play the rally with newer sectors; metals, 2 more sectors the dark horse for next 12 months: Gautam Shah
Gautam Shah from Goldilocks Premium Research highlights the shift towards newer sectors like metals, NBFCs, and chemicals in the market. He discusses sector rotations, noting the promising performance of quality mid-caps and small-caps. Shah praises the market's resilience amid global economic concerns and outlines a positive outlook and study risk-reward to pick sectors.
Want stocks that can offer 20-30% CAGR? Look for these 2 factors: Rahul Rathi
Rahul Rathi, Chairman & Fund Manager at Purnartha PMS, discusses his bullish outlook on India's energy sector, capital goods, and industrials. He emphasizes the significance of operational efficiencies and internal demand for driving company's earnings growth, highlighting investment opportunities in companies like GAIL and Tech Mahindra, which exhibit strong margin expansion and operational improvements.
Stock picking: 3 factors that are driving Rahul Rathi’s investment strategy
Rahul Rathi, Chairman & Fund Manager at Purnartha PMS, emphasizes their investment strategy focusing on volume growth, operating margin expansion, and valuation. The strategy shift accounts for changes in the interest rate environment. Key investments include GAIL, Bajaj Finance, and HDFC Bank. They aim for steady returns through a consistent, data-driven approach.
Trideep Bhattacharya sees value in these 3 pockets now
Edelweiss MF's Trideep Bhattacharya stated that in the past six months, they increased their portfolio's allocation towards IT services, consumption, and rate-sensitive financials. He also mentioned profit-booking from defence and capital goods sectors. Bhattacharya expressed optimism towards traditional two-wheelers with EV exposure and platform-based tech firms showing cash flows and profits.
Quality of companies coming for IPO far superior to what we saw 20 years ago: Pranav Haldea
Pranav Haldea from Prime Database Group stated that exits worth Rs 4.27 lakh crore this year mark a maturing capital market. Such exits allow for new capital deployment. Over Rs 16,000 crore was raised in August, hinting at strong ongoing market momentum with numerous companies filing for IPOs in 2024.
Why is Bengaluru and Hyderabad real estate booming? What’s making micro markets surge? Anuj Puri answers
Anuj Puri from Anarock Group highlighted the surge in real estate demand in India due to Global Capability Centres from the US and a thriving startup ecosystem. Cities like Bengaluru and Hyderabad have experienced notable growth. He emphasized that the market remains balanced between supply and demand, supported by better infrastructure and connectivity.
Chakri Lokapriya on 4 power stocks to bet on, top midcap recommendation
Chakri Lokapriya noted that the power sector, particularly companies like NTPC and Power Grid, would thrive with a mix of thermal and renewable energy, projecting significant capacity additions. He also discussed Ola's electric vehicle market position and valuation, the challenges in the pharma sector, FMCG's ongoing weakness, and promising midcap stocks like Tata Elxsi.
PSU banks on strong footing; Railways better situated than defence: Chakri Lokapriya
Chakri Lokapriya highlighted the strong footing of PSU banks with improving net interest margins and loan growth rates. He mentioned Canara Bank and State Bank of India as top picks. The real estate sector also saw significant gains, while the pharma sector continued to benefit from product innovation. Recent IPOs like Premier in the solar industry caught attention.
Fed rate cut in Sept may not bring in FII money immediately; RBI may not lower rates before CY25: Harsha Upadhyaya
Harsha Upadhyaya of Kotak AMC highlighted that a U.S. Fed rate cut could have limited impact on Indian markets, as this possibility may already be considered. He suggested that India's rate cuts might occur post-December or in 2025, with the current market reflecting these expectations. The interest rate climate usually favors valuations and sensitive sectors.
Everything is in a bubble, only precious metals are relatively safe: Marc Faber
Marc Faber, author of The Gloom, Boom & Doom Report, highlighted that everything, including FAANG stocks and collectibles, is inflated. He predicted negative returns on US equities in real terms over the next seven years and suggested investing in precious metals to maintain purchasing power. He advised focusing on capital protection rather than high returns.
Marc Faber on bad news and where to find a good bargain now
Marc Faber noted a five-year bear market in Thai stocks, now bottoming out. He considered Hong Kong properties and stocks undervalued. Faber linked low-value Chinese stocks to ongoing criticism from the US and European media. He also discussed inflation and currency issues, predicting a rise in gold and other commodities.
Should investors book some profits, or just stay invested? Vinay Paharia explains
Vinay Paharia, CIO of PGIM India MF, highlighted a growing bubble in low-quality and low-growth market segments, urging investors to steer clear. He advocated for portfolios featuring high-growth, high-quality companies. PGIM’s multi-cap fund targets these companies in various market segments, with a keen eye on sectors like healthcare, consumer discretionary, and financials.
Should you be booking profit in capital market plays? This is what Rajesh Bhatia has to say
Rajesh Bhatia, CIO of ITI MF, addressed the future growth and current valuations in sectors like defence, railways, domestic pharma, and electric vehicles. He cautioned about the high beta and cyclical nature of capital market plays. Bhatia also noted the ongoing structural shifts and challenges within these sectors, urging a careful approach to investments.
India flavour of the world now; hope RBI cuts rate this year: Rajeev Agarwal
Rajeev Agarwal from DoorDarshi India Fund discussed the potential impact of anticipated rate cuts by the Fed and the RBI on the economy. With reduced inflation and strong agricultural output, India is well-positioned for a rate cut. The banking and finance sectors are highlighted as promising due to good asset quality and capital adequacy.
Fed rate cut possibility has moved from if to when to how much, says Ajay Bagga
Market expert Ajay Bagga noted that Fed Chairman Jerome Powell reassured the market by signaling readiness to cut rates due to labor market concerns. With rate cuts almost certain by September, bond yields dropped, stocks rose, the dollar weakened, and gold prices increased. This was expected amid the substantial fiscal deficit buffering economic errors.
Should you start worrying about Trump trade vs Kamala trade? Arnab Das answers
Arnab Das, Global Macro Strategist at Invesco, emphasized that a September Fed rate cut is highly likely. He examined the differing economic implications of the upcoming American election. Das also discussed India's strong economic performance and noted the global investor sentiment. He detailed the impacts of global market volatility on currencies and tactical trades.
When it comes to SIP, look at the gross inflows, not net, says AMFI's Venkat Nageswar Chalasani
AMFI's Chief Executive Venkat Nageswar Chalasani discussed the robust growth in mutual fund investments, with 9.34 crore accounts raising Rs 24,000 crore in a month. He underscored the importance of gross inflows in the sector's evaluation and forecasted continued growth, citing India's promising economic outlook and increasing retail investor participation.
In an uncertain time like this, up to 15% of your portfolio can be in gold: Prathamesh Mallya
Prathamesh Mallya of Ange One suggests allocating 10-15% of your portfolio to gold during uncertain times and highlights silver's rising industrial demand. He also says if you have both gold and silver, in normal times they should each be 6% of your portfolio. He advises opting for digital investments like ETFs and sovereign gold bonds for better returns. Physical gold remains popular but less favorable for investment purposes.
What should be the CAGR return expectation from the Indian market for next three years? Rajiv Batra answers
Rajiv Batra from JPMorgan predicts a difficult Q2 for India due to weather impacting demand but remains confident about long-term growth prospects. He favors healthcare, especially pharma and hospitals. Autos face stiff competition. Batra expects Indian markets to have a 13-15% CAGR and anticipates FII flows stabilizing after the US elections.
Sectoral churns to continue till Nov-Dec; still overweight on FMCG, underweight on IT: Rajiv Batra
Rajiv Batra from JPMorgan discusses the robust performance of Indian equity markets and the current trend of sectoral rotation among investors. He notes the shift towards private banks, IT, and FMCG stocks. Batra advises considering rural demand growth over premiumisation and long-term investments in selective PSU stocks due to government initiatives.
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