ASHWINI AGARWAL
New bubble? Why are smallcaps and PSU stocks rebounding strongly from June 4 lows? Ashwini Agarwal answers
Ashwini Agarwal says he cannot get himself to agree that the PSU valuations have become quite eye-popping and has room for further upside. But bubbles have their own mind and bubbles can get a lot bigger before they burst. So, there may be a lot of upside.
Pune Porsche accident: Parents of teen involved in car crash sent to judicial custody for 14 days
Friday's decision comes after a May 19 accident in which a Porsche, driven by the teenage son of builder Vishal Agrawal, crashed into a motorbike in the early hours of the day, killed IT professionals Anish Awadhiya and Ashwini Koshta, both hailing from Madhya Pradesh, in Pune's Kalyani Nagar.
Pune car crash: Parents of deceased techies demand SC monitored probe, trial in MP
The parents of two software engineers killed in the Pune car accident demanded Supreme Court monitoring of the probe and trial. They also asked for the trial to be held in Madhya Pradesh. Anish Awadhiya and Ashwini Koshta died in a collision involving a speeding Porsche allegedly driven by a 17-year-old. The victims' families demanded that the accused be tried as an adult.
Teen involved in accident gets quick bail with order to write essay; cops seek to try him as adult
In Pune, a teenager involved in a car accident that killed two people has been granted bail by the Juvenile Justice Board, which also ordered him to write a 300-word essay on road accidents and their solutions. The police, claiming the 17-year-old was drunk, intend to prosecute him as an adult. A case has also been filed against his father and the bar that served him alcohol. The accident occurred when the Porsche, driven by the teen, hit a motorbike, killing two IT professionals, Anis Awadhiya and Ashwini Costa.
Pune Accident: 2 bike riders killed by speeding Porsche driven by builder's juvenile son; Bystanders thrash driver, video goes viral
Pune Accident (Google Trends): In a tragic Pune accident, two bike riders lost their lives when a speeding luxury Porsche, reportedly driven by the son of construction company owner Vishal Agarwal, collided with their motorcycle. The incident occurred around 3.15 am in Kalyani Nagar. A viral video showed bystanders assaulting the driver, who was later handed over to the police. Authorities are investigating the case.
Pune hit and run case: Father of the accused teenager detained
The Pune Police detained Vishal Agarwal, the father of the minor involved in a fatal hit and run case, from Sambhajinagar. The incident near Kalyani Nagar led to the deaths of Anis Awadhiya and Ashwini Costa. The minor driver was granted bail with rehabilitation conditions. Legal efforts are underway to try the juvenile accused as an adult.
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India will remain a rewarding market on a bottom-up basis: Ashwini Agarwal
I think there was a lot of disruption in the rural disposable income on account of the disruption in jobs in the urban area on a post COVID basis. But I think with manufacturing picking up several of those jobs are coming back and those transfers from urban to rural India might be getting back.
Foreign investors staying away from India due to expensive valuations: Ashwini Agarwal
And if you go back in history and see the longer-term trajectory of the market, it is very unnatural. I mean, typically through the noughties, which is 2000 to 2010 period, I mean we would see a 10% correction every quarter and every year we would see a correction closer to 20%.
Ashwini Agarwal on 3 sectors to look for bottom-up opportunities in this market
Ashwini Agarwal of Demeter Advisors hopes for a more even recovery in the Indian economy, rather than just benefiting the rich. He expects the release of government capex to ease liquidity and boost consumption. He sees opportunities in attractive consumer staples stocks with benign raw material prices and constructive margin outlook.
It’s a good time to hold some cash as a deeper market correction is possible: Ashwini Agarwal
Ashwini Agarwal says “booms and busts all produce extraordinary gains and extraordinary losses and this is part and parcel of it. I do not think it damages the underlying story for India or the global sentiment on India in any way. That is how I look at it. So it is not such a big deal in my personal opinion.”
Ashwini Agarwal on why Buffett Indicator of market cap to GDP may not apply to India
“We are pretty much at a peak but this market cap to GDP is a misnomer in my view because large parts of the GDP are not listed. So, how do you correlate market cap to GDP? Our agriculture, which is a large part of the GDP, does not trade ; a large part of the SME sector does not trade; a large part of government services which make up the GDP do not trade.”
There is not much room for upside in the market: Ashwini Agarwal
So that is kind of putting some pressure in terms of where the funds can go. So if you take all of this into account, my sense is that the domestic sentiment will not allow the market to sink a lot unless the domestic sentiment caves in for some reason and there is not much room for upside either.
PM Narendra Modi wants to make India a chipmaking superpower. Can he?
According to India's government, the microprocessor chips that power all things digital will soon be fully made in India. It's an ambition as unlikely as it is bold, and speaks volumes about Modi's belief that he can propel India into the top tier of advanced technology manufacturing.
Chemicals and pharma could be the theme for next 2-3 years: Ashwini Agarwal
“I continue to look for ideas in the small and midcap space because the overall economic growth environment in India is going to be very conducive. I continue to find opportunities both in the lagging frontline names with good prospects as well as select smallcap industrial names or even some of the services names.”
Enjoy the bull market but take money off the stocks that are too expensive: Ashwini Agarwal
“Historically we found that the further out into the future that you are willing to discount, the more are chances of disappointment. Obviously, some of these prices have stopped making sense a while ago and it is a bull market so who knows where these go but I would be very worried as to what the outlook for these stocks will be at some point.”
Hope to approve two high-quality semiconductor chip fabrication proposals in 12 months: Ashwini Vaishnaw
In an interview with Aashish Aryan, the minister said the India Semiconductor Mission will ensure that companies set up shop in India as a natural business decision, not just on geopolitical and supply chain considerations.
Foxconn, Vedanta committed to semicon mission, make in India: Union Minister Ashwini Vaishnaw
Taiwan's Foxconn has withdrawn from a $19.5 billion (about Rs 1.5 lakh crore) semiconductor joint venture with mining baron Anil Agarwal's Vedanta Ltd as the venture struggled to get a technology partner to make chips.
Here's why Ashwini Agarwal is bullish on pharma sector
You have to pick and choose as to what you like and where you wish to invest because each one of us has our own biases in terms of what we like and what we do not. But the simple point is that smaller companies are still not expensive, notwithstanding the kind of participation we have seen.
Banking sector should be the next big mover going ahead: Ashwini Agarwal
So the point that I am making is that India is certainly an attention of the world and there are multiple drivers to that. One is that we are growing quite well and do not have any macroeconomic imbalances unlike several other markets in the world.
What should be the tactical allocation towards equities? Ashwini Agarwal answers
Within sectors, I think manufacturing is what I am quite positive about and within that autos and pharmaceuticals in particular because you will see a significant tailwind to margins from normalising raw material costs.
Ashwini Agarwal decodes 3 reasons why market has bounced back in last few weeks
I think where people were worried that look is this a repeat of 2008 and are we starting to see a big sell-off? I think now zooming out a little bit, people believe that financials are not significantly at risk especially the larger ones.
Is the Adani stocks' selloff overhang over for the market? Ashwini Agarwal answers
“Hopefully, at some point in time during the year, we will start seeing an end of the rate hiking cycle of the last year or so. Hopefully, with growth expectations moderating, we will get into a situation where earnings growth will start meeting expectations and the extraordinary amount of capital expenditure that the government is putting into the ground will start to have a knock-on effect on aggregate demand.”
Value emerging in banking and pharma; India continues to be compelling in mid term: Ashwini Agarwal
“As North Asia starts to look a little bit better, you might see a little bit of a pause in inflows coming to India as far as foreign investors are concerned. This is a very short term phenomena. Medium term, in one or two years, the macroeconomic opportunity in India is very compelling and that keeps me very excited about the prospect of India outperforming other opportunities elsewhere in the world.”
If one were to buy the Nifty at 17,600, one may not make any money one year out: Ashwini Agarwal
“We had a huge amount of restructuring going on in India as a result of the reforms that were undertaken in 1991. We are in a similar situation at this point. I would say that this is not a 10-year story but over the next one or two years, it is quite possible that the market does not really go anywhere.”
Unnatural for Indian market to decouple from global sentiment; expect FII flows to slow down: Ashwini Agarwal
“It is very unnatural for one market to “decouple” from the global sentiment. What we saw in September and in August was some correction of the massive amount of foreign selling that had happened in the preceding seven or eight months. But going forward, if the global environment remains as poor as it is right now, I would expect foreign inflows to slow down a little bit.”
Trading rally is possible but globally, a storm is still raging: Ashwini Agarwal
“One has to find ideas and keep adding to them gradually as we go long. We do not know when markets will bottom, how deep they will go but the fundamentals of the Indian economy, relative to the rest of the world are in very good shape and that is the positive news.”
Don’t see massive downgrades in Nifty earnings in Q4: Ashwini Agarwal
“The aggregate market and Nifty earnings might not see massive downgrades because of the composition of the index. Banking and financial space, IT services, the oil and gas pack and telecom make up nearly two-thirds of the index. I do not see any significant downgrade there. Metals may see a little upgrade. So, significant downgrade in frontline Nifty earnings is unlikely.”
Look for deep contra bets in financials: Ashwini Agarwal
“Leaving out the top three four banks, the entire lending space is trading at book value.”
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