AVENDUS MARKET NEUTRAL FUND
Budget 2024: MSME data stack, alternative credit assessment models can bridge $530 bn credit gap, says industry
Industry experts highlight the pressing need to tackle the issue of cash flow problems for the MSME sector in the upcoming Budget on July 23.
Industrials strong, but be careful about valuations: Hiren Dasani of Goldman Sachs Asset Mgmt
"Emerging market equities, as an asset class, are not seeing inflows. They have seen outflows. The US is doing much better than the broader emerging market. The other dynamic is there is also a very strong AI (artificial intelligence)-driven theme that is driving the markets like Taiwan, which is a global supply chain for the entire AI-related and semiconductor segments"
How hedge funds are affecting Bitcoin prices
Bitcoin ETFs and hedge funds are driving significant inflows, sparking debates among investors. The surge in investment is influenced by hedge fund strategies, impacting Bitcoin's price dynamics.
Uzbekistan's ambitious green economy drive: New Bonds, air quality initiatives, & corporate collaborations
In October 2023, Uzbekistan issued its first international sovereign bonds for green financing, raising UZS 4.25 trillion (about USD 336 million). Additionally, the government is launching a nationwide initiative to measure and monitor air quality, driven by President Shavkat Mirziyoyev. This includes installing automatic air monitoring stations, supported by local businesses like Uzum, which is installing monitors at its locations in 30 cities. These efforts aim to provide real-time air quality data to address pollution effectively.
Leading Indian hedge fund Avendus Capital sees banking as a top bet
Avendus Capital CEO Holland uncertain about pre-budget rally, mentions potential capital gains tax change ahead of India's full budget presentation in July
Sebi forms committee to review ownership, economic structure of clearing corporations
Sebi forms committee chaired by Usha Thorat to review ownership and economic structure of clearing corporations for resilience and neutrality.
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Why Sanjiv Bhasin is betting big on this IT stock
Commodities, metals, wherever the left out feeling. I am not saying that they are going to fall overnight. See the risk on the table is less. You do not want to be burned right at the top and then see a 15% correction and then forward. So, I think taking money there off. But private banks, like I told you, UltraTech, a lot of those like ABFRL, Vodafone and Rattan Power that Rs 9.50 stock is locked at 20.25.
Cryptocurrency price on June 3: Bitcoin approaches $69k on renewed US rate cut hopes
Cryptocurrencies surge as U.S. inflation stabilizes, hinting at Fed rate cuts. BTC and ETH prices rise with a market cap at $2.56 trillion. CEOs anticipate positive momentum amid moderate growth and weak consumer spending.
ETMarkets PMS Talk: We will see a strong build up for India as a single-country destination for FII flows: Tridib Pathak
India’s growth gap over the rest of the world is widening and India will be the fastest-growing major economy in the world over the next 5 years at least.
Cryptocurrency Price on May 28: Bitcoin below $68,000; Ethereum, Toncoin decline up to 2%
In addition to Bitcoin and Ethereum, other crypto tokens like BNB, Cardano, Toncoin, Polkadot, and Tron also declined up to 2%. Conversely, Solana, Shiba Inu, Chainlink, and XRP surged up to 6%. The market cap of Bitcoin, the world's largest cryptocurrency, decreased to $1.337 trillion in the past 24 hours.
Where is the maximum margin of safety over the next 4-5 years? Trideep Bhattacharya explains
Trideep Bhattacharya highlights India Inc's earnings resilience, capex cycle indicators, and real estate sector trends for market insights. Bhattacharya further says that earnings for India Inc are likely to be robust going ahead and within that pool, stock picking is what will be doing the talking for the fund managers.
Bitcoin slips below $67.2k; Ethereum falls over 4% despite approval of spot Ether ETFs in US
Cryptocurrency markets, including Bitcoin and Ethereum, were trading lower on Friday due to profit-taking. BTC fell to $67,143, while Ethereum declined to $3,655. Edul Patel from Mudrex commented on the market movements.
2 sectoral bets from Ganeshram Jayaraman for next 2 years
This has led to a very positive capex cycle, likely to start private sector capex cycle. This very good profit growth also led to strong government capex because tax collections were buoyant. So, it was a very strong demand, supply, earnings and valuations cycle.
Banking sector is the place to be, don’t be put off by FII selling: Andrew Holland
Andrew Holland, CEO of Avendus Capital Public Markets Alternate Strategies LLP, discusses the impact of FII selling on bank stocks and the upcoming market trends post-elections. Coming to pharma, Holland says the bottom was hit some months back for the whole sector and the prospects are starting to look better not just locally but overseas as well.
A $90 billion fund says Indian bonds underpricing index move
India will be included in JPMorgan Chase & Co.’s key emerging market bond index as of next month, and foreigners have sent a net $8.2 billion into the eligible bonds since the announcement in September.
Foreign-themed mutual funds rally up to 80% in a year. Should you go international?
International funds, including top performers like Mirae Asset NYSE FANG+ETF FoF, showed strong growth. However, concerns arise with Sebi's restrictions on overseas ETF investments and varying earnings growth in indices like Hang Seng and CSI 300.
ETMarkets Fund Manager Talk: Q4 results in line with expectations, domestic cyclicals leading the way: Shibani Sircar Kurian
The March quarter earnings growth was driven by BFSI, Auto, technology, and oil and gas, with smallcaps rallying on retail liquidity. Shibani Sircar Kurian discussed the risk in the broader market for FY25. Nifty companies reported 13% earnings growth. PSUs are favored pre-elections. Capex in power, defence, and infrastructure is expected to continue.
Bulls beat a path to China stock shop but foreigners dare not go in
Share prices have rebounded from multi-year lows in February on signs of more official support. The benchmark Shanghai index has climbed more than 3% since reports of the property rescue surfaced on Thursday, taking its gains to a fifth in 3-1/2 months, though the rally stalled on Tuesday as investors awaited more details on how the funding would work. Hong Kong-listed Chinese shares are up nearly 38%
Fund Manager Talk: Why Mahesh Patil isn’t the one to time election outcome
The March quarter has seen a slowdown in the topline growth across sectors as the nominal growth has moderated on the high base of last year and cooling off of inflation.
Nifty bulls get fresh backing from Citi which upgrades India and downgrades China
The recent rebound in the Chinese stock market has come despite worsening fundamentals, while India is delivering solid profits, Citigroup strategists wrote in a report while downgrading China and upgrading India in emerging market allocation.
These midcap stocks with ‘Strong buy’ & ‘Buy’ recos can rally over 25%, according to analysts
The Q4 earning season is clearly showing its impact on parts of the market. Given the fact that the valuations are high, if there is a slight miss by the company on its expected numbers, the street is being uncharitable in its reaction. On the face of it this might appear to be negative but the fact is that the street is also rewarding the stocks where there is either a positive surprise in Q4 earnings or any of the problems are getting solved. Like in the case of some companies which are seeing the lifting of restrictions by the RBI. So the street is at equilibrium level where it clearly shows that while there is no dearth of money for performers but at the same time if the valuations are high and there is no major positive surprise then it is probably time to shed some weight. Keep an eye on the market breadth in coming days and on the mutual fund numbers which are going to come today to figure out what will be the trend of mid-caps in the short term. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.
Cryptocurrency Price on May 7: Bitcoin falls below $63,700; Shiba Inu, Dogecoin tank 5%
As of 12:14 p.m., Bitcoin was trading 1% lower at $63,649, while Ethereum experienced a 3.5% drop to $3,068. Additionally, altcoins like BNB (-1.1%), Dogecoin (-4.9%), Toncoin (2.6%), Cardano (3.3%), Avalanche (-3.1%), and Shiba Inu (-5.2%) followed suit in the downward trend.
Neutral on RBL Bank, target price Rs 280: Motilal Oswal
RBL Bank Ltd., incorporated in the year 1943, is a banking company (having a market cap of Rs 16083.83 Crore).
Adding more to bank stocks; IT still not giving confidence: Andrew Holland
Avendus Capital CEO, Andrew Holland, optimistic about banking sector recovery. IT sector linked to US interest rates. Global factors influence market sentiment. Nifty levels may rise pre-election. Confidence returning post-turmoil, with focus on consumer spending and small banks. Holland further says: "The largecap banks will perform and if the commentary in the results season is more positive that the worst is over,"
Global PE investors eye bigger pie of India’s software services sector
The number of PE firms holding majority stake in Indian IT services companies had doubled between 2019 and 2022 to more than 50, as per Avendus Capital data.
Five years on, Morgan Stanley PE to exit cardiac stent maker SMT
Existing investor Samara Capital and the promoter, Dhirajlal Kotadia and his family, are also likely to sell an about 15-20% stake between them. The potential deal is likely to value SMT at ₹3,500-4,000 crore and the process will be launched by the end of April, said the people. In 2018, Morgan Stanley acquired its 17% stake in SMT with an investment of ₹160 crore. Samara Capital holds a 32% stake, while Kotak Pre IPO Opportunities Fund owns 6% and the promoters hold the remaining 45%.
Mubadala leads Rs 1100 crore funding round in Avanse
Avanse is the second largest domestic private sector NBFC in the education loan segment with assets under management (AUM) of Rs 8,646 crore in FY23. The firm's total disbursement in FY23 stood at Rs 6,143 crore, a 2.1x increase over the previous financial year. The company has disbursed loans to over 3.5 lakh students and provided working capital to 1200 institutions.
Neutral on Axis Bank, target price Rs 1175: Motilal Oswal
Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 335926.78 Crore).
ETMarkets PMS Talk: Don’t wait for correction; India’s narrative is changing, and it is changing fast: Tridib Pathak
Tridib Pathak says: "FII flows will remain volatile and will continue to be influenced by global monetary conditions in the short to medium term. Most of the FII flows in India have been as a part of an allocation to emerging market /Asia funds and very less is direct as an India-dedicated/country-specific exposure."
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