GOVERNMENT REFORMS
Path towards structural reforms and fiscal prudence will continue in Budget 2024: Navneet Munot
Markets are at a new high. It is definitely a cause of celebration. It reflects India's macroeconomic fundamentals. It reflects that India has got political stability, macroeconomic stability, financial stability. There is tremendous faith on the government's policy continuity.
GST collection rises 8 pc to Rs 1.74 lakh cr in Jun
The June 2024 GST collection reached Rs 1.74 lakh crore, marking an 8% increase from May 2024. EY India Tax Partner, Saurabh Agarwal, emphasized the need for the next wave of GST reforms to tackle working capital blockages and implement sector-specific solutions.
NITI Aayog calls for policy and legal reforms to regulate use of facial recognition technology (FRT) in India
In a report, prepared by the Vidhi Centre for Legal Policy on behalf of the Aayog, it had proposed imposing liability and the extent of liability arising from any harms or damages caused by the use of facial recognition technology (FRT) system. Besides, the Aayog has suggested a need for an ethical committee to address issues pertaining to transparency, accountability, and biases emanating from the use of such systems in India.
UK government warns of Russian interference in general election
Farage -- an admirer of former US president Donald Trump -- dismissed claims that Russian bots might interfere in the election as "cobblers", using a British slang term for nonsense. He has been criticised in the campaign for saying that the West provoked Russia's invasion of its neighbour Ukraine.
8% GDP growth not sustainable yet; bond index inclusion may see short-term volatility: Abheek Barua
After the inclusion in the JP Morgan global bond index, in the short term. we need to prepare for volatility. But in the long term, the collateral and the second-round benefits are huge, says Abheek Barua. He expects this to lead to an improvement in the fixed-income ecosystem, which unfortunately has not taken off that well
Fiscal discipline key to India's growth prospects: Sanjay Nayar
So, we will have to also think about how we channel the energies towards more advanced and more modern techniques and technology, because that is what we need right now.
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Post Nifty@24000, is it time for profit-booking? Sunil Subramaniam answers
The widening gap in valuations between the mid-cap as well as the small cap pack and the largecap pack means that this is a wonderful opportunity to rotate it and bring down the average one-year forward PE of the portfolio by buying good quality, solid, robust largecaps, says Sunil Subramaniam.
ETMarkets Smart Talk: Reforms to attract FDI, simplification of tax regime & green energy likely in Budget 2024: Gurpreet Sidana
The positive trends in global markets, favourable domestic economic data, and optimism regarding corporate earnings growth have further bolstered market sentiment.
What will be the key focus areas in the Budget? Ajay Bagga answers
Infrastructure building, indigenisation on imports of institution as well as raising the levels of employment, rural demand, I think all those will remain focus areas.
ETMarkets Smart Talk: FMCG & IT stocks provide valuation comfort compared to historical valuations: Vipul Bhowar
Populist policies will likely take precedence to secure victory in a coalition setup. Key cabinet portfolios, particularly those related to finance, defence, and infrastructure, will be closely monitored.
Chakri Lokapriya's top midcap stock picks for near term
I think defence, semiconductor, industrial, infra are easy reforms for the current government in the current shape to continue because even the allies, for instance, Naidu is a very reform-oriented person.
ETMarkets Smart Talk: Roads, railways, and defence should be in focus in Budget session of Modi 3.0
The sharp 6% fall in markets was a result of people expecting for a BJP majority based on the exit polls, with the actual results turning out to be a black swan event.
ETMarkets Smart Talk: Housing, building material & related sector might be a dark horse in Modi 3.0
Whether the thrust on railway, defence & environment for capex would pan is not clear at this point, and markets hate uncertainty & de-rating happens when growth is not certain
AMCs, insurance stocks offering good money-making proposition: Deven Choksey
I believe that the market is going to remain positive. Investors are going to be remaining confident. Maybe these numbers are going to be forgotten after a couple of days once the ministries and the governments are formed.
Is it prudent to chase FMCG stocks or wait for correction? Gurmeet Chadha answers
The tougher reforms I think might take a bit of a backseat or probably would require more manoeuvring but the normal policy reforms like the price to be given for defence or power solar panels or auto and in general the economic reforms which are more BAU and not really needs coalition dharma will continue.
Expect some degree of volatility till the Budget: Sunil Subramaniam
But I now expect consumption to redress the balance and you will get a far more broad-based recovery, that is number one. Number two is I think that now with the lessons of what happened in this election, we expect the BJP itself to take necessary corrective action since it has got power for the next five years so that the very next election they will be in a position.
Past reforms will continue to drive economy over next 2 years: Neelkanth Mishra
In fact, with the RBI dividend being significantly better than what was budgeted, I would not be surprised if in the July budget, the government chooses to bring down its FY25 fiscal deficit target from 5.1% to 4.9% because that money is there.
Infra sector going to be challenged; time to take a pause: Rupal Bhansali
Ironically, I actually think it is a very healthy development. I know the market reacted quite negatively. Obviously, vis-a-vis expectations, it was certainly an upset loss.
Market will wait for policy recalibration before taking a portfolio call: Nilesh Shah
One policy recalibration which probably will happen is that there will be more support to consumption at the bottom end of the pyramid and for mass market product. Now, with that kind of policy recalibration, markets will then adjust to a new level and try to build scenario.
Don't see any material changes in policies going ahead: Rajeev Thakkar
And if we step back what does the election outcome mean for the markets? So, barring the pre-election and post-election for a week, 10 days, people will move on.
Hold your horses! Wait for real results before making big moves: Swaminathan Aiyar
In Modi 1, he, for instance tried to take on land acquisition. He retreated. Again, in Modi 2, one of the things that he retreated on perhaps was whether we have a national register of citizens, which the Muslim community is extremely afraid of, that is a non-economic subject. But I mean, these were some of the areas Mr Modi has shown that he is capable of retreating when he comes across a very serious resistance.
We are poised to open a minimum of 25 hotels this year: Puneet Chhatwal, IHCL
I think as things are beginning to normalise, this global travel will also start coming back. And as of this October, we should see us getting close to the pre-COVID level. And it is only next year that India will cross the international arrival numbers that it had prior to COVID.
India well poised to benefit from great opportunities coming from hotels and hospitality sector: Puneet Chhatwal, IHCL
And if things keep going this way, and it is anybody's guess, I know that there is a new book coming out in the market which predicts India at 47, with more than 50 trillion economy and there are others that are predicting at 27 or 28.
India has potential to capture a large share of global defense market: Mark Matthews
I think there is scope for further expansion if the earnings grow and if the economy grows, then the earnings will grow. If the economy grows by let us say 6-7-8% per year, then I think it is reasonable to assume earnings grow by 12-13-14% per year and if you compound that a couple of years, then actually India is not expensive.
Hemang Jani's top stock bet from pharma sector
But nonetheless, I think even when it has not performed so much, I think if somebody has to put fresh money, I think it surely makes a lot of sense given the performance, valuation comfort, I do not see much of a challenge over there. And recently, the fact bond yields went down when you had that big dividend payout, I think there was a bit of an outperformance. So, I think you could look for some more outperformance at least over the next 6 to 12 months.
Can Vodafone Idea stock trade above Rs 20 in next one year? Hemang Jani answers
I think there is a growth in terms of volume, given the kind of appetite that people have for jewellery and also, we feel that you will see stable margins once there is a little bit of stability in the gold prices. So, valuations, I do not think is too much of an issue. It is all about how big the opportunities and how Titan can deliver growth. We have a positive view. I think it is a part of the core portfolio.
What should investors do with RIL and ITC? Amnish Aggarwal answers
Elections is a very important event and we are now just I think three trading days away from it. We had issued a note to our clients in which we had identified a few sectors and the scripts which would be doing well irrespective of the outcome of elections.
India will continue to be a 'buy on dips' market: N Jayakumar
My own assessment is that, especially even as investors, the local investors have now got a higher percentage of company holdings than foreigners. To my mind the big takeaway of the last five years. has been the pre-eminence of the Indian retail investor, unspoken, unsung, unknown investor through SIPs and through his investments and largely through mutual funds has remained an increasingly important constituent of the markets.
In a ‘no-option’ election, despite absence of a Modi wave, he remains the central factor: Neerja Chowdhury
Neerja Chowdhury says: "While the voices of dissatisfaction against BJP government have increased, whether it is with unemployment, rising prices, Agniveers programme, exam leaks, a whole host of issues. But it did not look like an anger election, what is called dissatisfaction versus anger and that makes a lot of difference."
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