ET HEADLINES
We are happy with Q1 results but not in a position to say TCS is on a growth path again: CEO
TCS foresees FY25 outperforming FY24, leveraging AI and cost optimization despite market volatility, BFSI challenges, and election impacts. With Q1 achievements, reduced attrition, strategic headcount growth, and strong India business, performance remains robust. Investments in talent, discretionary project validation, and technology adaptation sustain a healthy order book, even amid fewer mega deals and extended decision-making cycles.
Financials & utilities are the cheapest sectors; IT overpriced: Neelkanth Mishra
Neelkanth Mishra highlights undervalued financial and utility sectors compared to the overpriced IT sector. The Budget is expected to focus on rural support and fiscal prudence, with emphasis on Viksit Bharat 2047 initiatives. However, GDP growth may slow down, impacting FMCG sector earnings. Mishra expects consumption by the lower income households will grow slower than the GDP on average,
Strong dollar will continue to cause problems for emerging markets and commodities in 2024: Adrian Mowat
The Emerging Market funds that have been doing well have been very overweight in India and they may not feel comfortable in increasing that overweight. The Indian bull market is very much a story of strong domestic fundamentals and a robust savings pool in India buying its market, says Adrian Mowat
Decoding momentum funds: What you need to know
Momentum funds select stocks based on recent performance for continuity. The 17 funds in this category include both index funds and ETFs, with a tracking error of 0.3 to 0.5% in passive funds. High-risk investors are ideal for these funds, with recommended asset allocation of 80% in equity and 20% in debt, says Chirag Muni.
India VIX cools off 30% to sub-20 levels as market gets back lost ground
India VIX fell below 20 on Wednesday amidst election outcome favoring NDA with a comfortable majority. Modi 2.0 government held its last cabinet meeting amid positive market sentiments.
India's growth outlook: Economy to get a blockbuster release this Friday? But that's too late to stream in poll campaigns
GDP Q4: As the country buzzes with election excitement, India is set to release its GDP growth numbers for the fourth quarter of FY24 this Friday, alongside the full fiscal year figures. Analysts are eagerly awaiting to see if the January to March quarter numbers surpass expectations, fueling hopes of a surprising uptick in growth.
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After consolidating around current levels, market to deliver healthy returns over 3-5 years: Jitendra Arora
Jitendra Arora of ICICI Prudential discusses market consolidation, challenges in valuations, and investment strategies emphasizing long-term growth over short-term gains. He provides insights on sectors like private banks and real estate for potential investment opportunities. Arora says: "Private bank is one pocket where we find a lot of comfort as a house in terms of the valuations."
Ben Affleck divorce rumors spread as he attends daughter's graduation party without Jennifer Lopez
Jennifer Lopez and Ben Affleck may be going through a rough patch, it seems, as they are not being spotted together on several trivial occasions. Amid divorce rumors around the couple, Affleck recently attended his daughter Violet's graduation party without the music star.
PSU banks, select HFC & NBFCs to see tailwinds in earnings in next few quarters & years: Anshul Saigal
Anshul Saigal, Founder of Saigal Capital, discusses the potential impact of the continuation of the current dispensation on the Indian market and the preference for individual investors over diversified portfolio managers. He mentions insights from a CIO poll regarding sector preferences, highlighting the lack of interest in FMCG and auto sectors.
Investing is an infinite game and you cannot play it with a finite mindset; learn to think long term: Utpal Sheth
Utpal Sheth envisions India's terminal value in 2024 as a continuation of the structural and secular bull market, with a higher probability of success. He emphasizes the long-term perspective and the ongoing evolution of India's market positioning within the global landscape. Sheth also talks about terminal value investing, where they are pursuing a very different value.
GDP likely expanded 6.8% in Q4; FY24 print may hit 7.8%
The strong March quarter print could lift overall gross domestic product (GDP) growth for the full fiscal year to 7.8% against 7.6% assessed in the government's first advance estimates released in February. The International Monetary Fund (IMF) has also forecast 7.8% growth for FY24. The government will release fourth-quarter growth numbers and provisional GDP data for FY24 on May 31.
Will Mahindra 3XO manage to beat Maruti Brezza and Tata Nexon? Hormazd Sorabjee answers
Hormazd Sorabjee discusses the government's stance on hybrid vehicle incentives and Maruti's strategy. He explains Maruti's proactive approach with hybrid plans, emphasizing the cost-effective series hybrid technology. The discussion touches on the potential impact of government incentives on Maruti's EV and hybrid game. He also talks about the Mahindra 3XO vs Maruti Brezza and TataNexon
Pirates of the Caribbean reboot cast, release date, female lead: What we know so far
After the epic Barbie carnage by Margot Robbie with her notable performance last year, the actress is again in the headlines as Pirates of the Caribbean-reboot producer Jerry Bruckheimer has revealed some promising details around the upcoming film where she will be cast as a female lead.
We wish to grow in SOBO market which will see resurgence of residential developments: Boman Rustom Irani, Keystone Realtors
Keystone Realtors, led by Boman Rustom Irani, are expanding into SOBO due to city infrastructure growth. FY25 outlook is positive, with FY24 surpassing expectations. Strong OCF, acquisitions, and partnerships contribute to the company's success. The real estate sector in Mumbai is poised for growth, driven by infrastructure development and a surge in redevelopment projects.
JP Morgan’s Rajiv Batra on why FIIs are selling and how to position portfolio now
Rajiv Batra of JP Morgan discusses the positive macroeconomic indicators in India, including PMI prints, the Sagar Mala initiative for waterways, and upgraded GDP forecasts. He highlights the growth potential in sectors like water transportation and domestic manufacturing. Batra says: "We are much more positioned on domestic cyclicals, domestic demand, which keeps us overweight on still financials, autos and real estate overall."
India's retail inflation eases marginally to 11-month low of 4.83 per cent in April
In April, India's retail inflation slightly decreased to 4.83 percent annually from 4.85 percent the previous month, as per government data released on Monday. According to a Reuters poll of 44 economists, the estimated figure was 4.80 percent.
Travis Kelce pampers girlfriend Taylor Swift with expensive gifts including $11.7k Chanel bag amid her Eras tour
American football star Travis Kelce has recently purchased a $11.7k Chanel bag along with $736 worth of macarons for his music legend girlfriend Taylor Swift as she resumes her Eras Tour in Europe.
New sectors to take GDP trajectory higher; a large part of allocations should be in midcaps: Harendra Kumar
Harendra Kumar anticipates GDP growth over the next five to ten years to come from sectors that traditionally never existed in India. For example, EMS players are doing really well. A huge semiconductor ecosystem is going to come. We are going to see a listing of EV players. Midcaps show greater growth potential. Auto sector expected to yield big returns.
Markets & Mandate: How would you prepare your portfolio for Modi 3.0?
Nilesh Shah discusses India's economic trajectory, comparing it to the US and China. Shah says: "The template should be what the United States has done over 50 or 100 years rather than what China has done over the last 10 or 20 years." He highlights the importance of consumer, digital, and physical economy sectors for the next 5 to 10 years, emphasizing India's positive market outlook post-COVID.
Even with fund infusion, Vi balance sheet will continue to be weak: Nitin Soni
Nitin Soni of Fitch Ratings emphasizes Vodafone Idea's necessity for tariff hikes to improve cash flow amid upcoming payments. Government debt-to-equity conversion and inadequate capex investment pose challenges for Vodafone Idea's weak balance sheet.
If you do not treat me well as an investor, I do not care what the macro story is for India: Ajit Dayal, Quantum Advisors
Ajit Dayal of Quantum Advisors cautions about the dangers of high allocations in smallcap funds due to liquidity concerns and stresses the importance of governance in investments to ensure profitability and mitigate risks in the Indian market. Dayal also says: "European capital for India is also important and European capital is increasingly trying to find alternatives to be in other nations besides China."
Voda Idea, Indiabulls RE to be stocks of the year; 2 more stocks to buy: Sanjiv Bhasin
Sanjiv Bhasin from IIFL Securities offers insights on various stocks and sectors. He recommends Idea, Vedanta, Maruti, Indiabulls Real Estate, and Vodafone Idea. Bhasin says: "For me, today belongs to Vodafone Idea. This FPO is the only opportunity to get the stock at Rs 11. This is going to be the stock of the year." His analysis covers HDFC Bank, Reliance Industries, GAIL, Wipro, and HCL Tech among others.
Iran-Israel war: Wait & watch now, will buy more aggressively when Nifty nears 21K, says Sandip Sabharwal
Sandip Sabharwal advises caution in volatile markets due to Middle East tensions and evolving global trends. Market dips should be carefully assessed for investment opportunities. "The first level where I would like to start buying more aggressively will be more near 21,000 of the Nifty and if by chance it falls further to between 20,000 and 20,500, then I would like to be fully deployed at that stage."
Iran-Israel war: Do not panic sell and do not catch falling knife: Anurag Singh
Anurag Singh advises against panic selling in Indian markets, recommending holding cash due to uncertain valuations. He says Indian and all other emerging markets face a little bit of danger because whenever oil spikes, dollar flight happens. But, he says, market recovery is anticipated sooner with strong back channel talks despite geopolitical risks.
If you have to go for IT at all, TCS a better bet: Hemang Jani
Hemang Jani remains cautious on the IT sector. He says "the only positive takeaway is that the market is already sensing that there would be a significant negative growth of about 1% to 1.8% in terms of quarterly revenue growth for Infosys. The next year guidance was anywhere from 3% to 5%, which is mediocre. So, it would be best to stay away from IT till we get more colour on growth."
ET Poll: RBI likely to maintain status quo on key rates
This would mark the seventh consecutive time the repo rate, currently at 6.50%, remains steady. Economists suggest that the RBI may wait until August 2024 for any rate changes, citing the need for clarity on monsoon outcomes, sustained economic growth, and US Federal Reserve decisions.
ET Awards 2023: No link between ED actions and electoral bond purchases, says Sitharaman
Sitharaman addressed misconceptions on ED-bond ties and advocated for comprehensive reforms involving states and local bodies. Finance minister Nirmala Sitharaman also pointed to govt’s next-gen reforms plan, said not enough data on private investments in sunrise sectors and job creation, asserts inflation under control.
ET Explains: Difference between core and non-core inflation in India
Core inflation represents the long-term trend in the price level and is impacted by monetary policy measures. On the other hand, non-core inflation is driven by supply side factors such as food and fuel prices, and monetary policy measures have limited impact on it. Both core and non-core inflation contribute to headline inflation.
2023 Year in Review: Secondary rounds may headline deal flow at startups next year too
Risk investors ET spoke with said secondary share sales are likely to continue in 2024, as the focus would be on the limited number of good assets where existing investors are looking to part-sell their stake.
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