BUDGET WISHLIST MADHU KELA
5 insights on Budget 2024 from market veteran Madhu Kela
Kela said that, over the years, the budget's significance has diminished, given the government's continuous policy changes throughout the year. Despite being a vote on account, Kela speculates that this year's budget might be a comprehensive presentation, considering the government's confidence in continuity
Quality of the Budget should be fabulous as Modiji will not go for a very populist one: Madhu Kela
Madhusudan Kela, a market veteran, discusses the importance of being prepared for market corrections and delinking research from execution. He believes in the long-term potential of the Indian economy and the consensus agreement on the Indian stock market. The budget's significance has diminished over the years, but Kela expects a fabulous quality budget with a focus on fiscal consolidation. He predicts a realistic fiscal deficit of 5.2-5.4% and emphasizes the potential of strategic disinvestment in PSU companies. Kela also highlights the opportunities in infrastructure and PSU banks due to their undervaluation and deposit advantage.
Diwali Dhamaka: 5 market wizards on how to invest in Samvat 2080
India remains in a sweet spot going into the new Samvat 2080 with a strong balance sheet of corporate India and improving health of the domestic banking sector. ETMarkets brings views of five market wizards viz. Raamdeo Agrawal, Sanjiv Bhasin, Madhu Kela, Prashant Jain and Christopher Wood, who piece together the likely triggers that may impact stock markets, individual sectors and stocks through the new year.
There is merit in rationalizing the taxes but should it be done this year? Madhu Kela answers
"Logically speaking, given that markets have also become normal, given the context that there is talk of global recession and we need very healthy capital markets, it should not get distorted. Having said this, if the time frame changes and for LTCG tax, long term goes from one year to two years, I do not see a meaningful impact on the markets."
If 20% of total expenditure is capex, it will be a big boost for a lot of sectors: Madhu Kela
“The government has Rs 1.5 lakh crore of surplus from subsidy. The RBI has the legroom to give at least Rs 80,000 crore to Rs 1 lakh crore more by way of dividend to the government. If I take both of this into account, there will roughly be Rs 2.25 lakh to Rs 2.5 lakh crore of extra ammunition right in this Budget which was not there last year.”
Post Budget, outperformance by select sectors and companies will continue: Madhu Kela
“A lot more money will come into India – whether it is equity or fixed income – over a medium term of two-three years timeframe because I cannot think of any other investment destination in the world. wherein fundamentals are so strong, government position is so strong. ”
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Indian market may continue to outperform but temper return expectations: Madhu Kela
“The outperformance is here to stay but we should not fool ourselves, we should not extrapolate the kind of money, which has been made in the market in the last two years, can continue because this is an abnormal situation.”
Can Budget 2022 spark a rally? Madhu Kela’s bullish on manufacturing & cyclicals
“Markets have corrected 10%. So many companies have corrected significantly. I can clearly see bottom-up opportunities in this market now. Overall, there will be a lot of action on PSUs, on sectors which are linked to the economy and also sectors which are benefitting from manufacturing, specifically out of exports.”
Budget could positively surprise: Madhu Kela
This time around, there is really no expectation. There is not much talk.
Madhu Kela says Budget 2021 can surprise D-Street positively, bats for aggressive divestments
Kela said that the government needs to elaborate the details of the divestment targets that the FM sets for FY22, as there are good chances that the government would miss the disinvestment number for FY21 as well.
ETMGS 2021 to see best of global, D-Street brains ideate on Budget & markets
ETMarkets Global Summit, Dalal Street's most awaited event, goes virtual this year in view of the Covid-19 pandemic. The event kicks off on January 20, Wednesday
It might be easy for FM to cheer Mr Market this time: Here’s why
It would be better if the government abolishes long-term capital gains tax, said Jhunjhunwala.
Extrapolating 2 years' profit to 20 years' returns biggest mistake we make in midcaps : Rakesh Jhunjhunwala
Life is not about regrets, life is about learnings, Jhunjhunwala told market veteran Madhu Kela.
Market will be volatile but trend will be upwards: Madhu Kela
“Budget 2018 could be a one-day event depending on the changes”
Come chop or churn, Madhu Kela is bullish on 2 spaces in long term
"We are bottom up investors and I am proud of calling myself an opportunistic investor"
Equities best asset class compared to gold, fixed deposits in Samvat 2071: Madhusudan Kela
"We are in a very-very good situation because a lot of macro variables such as inflation coming down, crude prices hitting a low, etc, are looking good."
Budget 2013: Roadmap to achieve fiscal deficit, GDP nos. credible, says Madhu Kela, Reliance Capital
It could have been a far more populist budget, but he has broadly delivered the numbers that look very-very credible.
Biggest trigger for markets is lower stock prices: Madhusudan Kela, Reliance Capital
Instead of the budget I am looking at the budget session and what happens in the session, says Madhusudan Kela.
Expect significant returns in markets over next 3 years: Madhusudan Kela, Reliance Capital
"The market has climbed through all the walls of worries and that was one reason why the market did not give any return," says Madhusudan Kela.
Budget with ET NOW - Markets first
Tune in to India's No 1 markets channel ET NOW on Budget Day for the best market recommendations and analyses.
Our med-term outlook for equity is positive: Madhu Kela
ET NOW Exclusive: Our medium-term outlook for equity is decisively positive for India, says Madhu Kela, Head-Equity Investment, Reliance MF.
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