MARKET RISK
Where are the spots of opportunity and excesses in this market? Prateek Agrawal answers
"We are sustainable growth investors. On a relative basis, the highest growth part of the market offers a competitive advantage versus the index. So, all the highest growing spaces – renewables, new tech, EMS spaces, etc, are where the growth quotient is very high," says Prateek Agrawal
What to do with Vodafone Idea, Paytm, RailTel and 3 other stocks? Aamar Deo of Angel One decodes
With Infosys and Wipro Q1 results expected this week, investors are keenly awaiting them as that would set the trend for the overall IT sector. Expectations of the Q1 results of these companies are overall positive, but markets are known to react in mysterious ways at times, so better wait and watch.
Mix and match? Looking for beaten-down and also momentum stocks: Aveek Mitra
Aveek Mitra of Aveksat Financial Advisory has been spreading bets defensively post-election, keeping minimal cash. Focusing on chemicals, IT, and pharma, he emphasizes risk management over returns. Highlighting investments in mid-smallcap, consolidation phases, and API, Mitra addresses rising investor expectations and remains adaptable, leveraging a client base built without promotion.
Fully invested in market; banks continue to remain reasonably priced: Anand Shah
Today we have 65% of population living in rural India, 35% of people in urban India. It is very difficult to improve per capita income and consumption for somebody who still remains in the rural part because to take factories, to take jobs to the rural India will be very difficult.
Strong domestic liquidity and earnings growth helping markets to stay higher: Anand Shah
We all debate what are the risks in the market, what can go wrong in the markets, the fact of the matter is the large corrections in market do not come because of the known risks, generally they come from the unknown risks.
Earnings, Budget to drive market; risk-reward favours largecaps & midcaps vis-a-vis smallcaps: Shibani Sircar Kurian
Boost to overall infra space and the investment-led growth will possibly continue. 'We will have to wait and see what allocations are made to specific industries and segments, which we will get to know shortly, and the second factor of course will be what happens in terms of rural as well as allocations to boost demand at the bottom of the pyramid," says Shibani Sircar Kurian
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Options trading: How to protect investors and take care of market liquidity? Deepak Shenoy answers
Increasing the lot size for options trading would probably make sure that there will be people who will have to put a little more money to play in, slightly more capitalised. In an extreme leverage situation, people need capital to cover extreme events and that retail participants may not have, says Deepak Shenoy
Want to balance risk-return now and not just focus on returns: Siddharth Vora
Other than valuations which seem to provide some sort of caution, volatility has come off very significantly post elections. All the macro data points around India are very robust. From a macro perspective, there are no major red flags. We are not seeing any major systemic risk for Indian equities as well andit is very clear that this is still a broad-based bull market, Siddharth Vora.
Critics will agree that Indian stock market is not very expensive: Nilesh Shah
While India’s market capitalization to GDP ratio is at an all-time high level, valuations are not at an all-time high, Dalal Street’s veteran stock picker Nilesh Shah said at AIF & PMS Conclave 2.0 on Wednesday.
High yield credit investing due for exponential growth in India
High Yield Credit funds, also called 'Performing Credit' funds, primarily invest in bonds issued by SMEs or structured corporate issuances. These bonds are typically bilateral agreements between issuers and investors, characterized by low liquidity, which translates into higher yields for investors.
Fund Manager Talk | Rally in rail, defence stocks at execution risk: Krishnan VR
The portfolio was up 1.7% in May compared to 0.8% for the benchmark BSE 500 total return index. Because many portfolio companies reported their fourth quarter (and full year) results last month, the performance was partly driven by positive earnings surprises
What can be the risk to the India bull case scenario? Jonathan Garner answers
There has been unprecedented heat in SoutheastAsia also over the last couple of months. So, I would highlight that as really quite a pressing issue at the moment. I think some of the traditional issues around, let us say, oil import bill and that sort of thing or vulnerability to Fed cycles, they have been much diminished now that the current and capital account situation in India is so much stronger.
3 stocks Viral Shah is bullish on from NBFC sector
I think a lot of analysts and investors have kind of built this in in their numbers and the impact is going to be actually gradual. Given that these are two-three years fixed rate loans, so the impact is always on an incremental basis. So, it will take two to three years for it to play out fully in terms of the financials. And the quantum of it also would vary. If it is a 50 or 100 base points kind of a rate cut, in the kind of the construct of the ROAs that MFIs make, it should be easily digestible.
Why is it right time to reshuffle your portfolio? Feroze Azeez answers
Now if you come to the contemporary situation that general election is over, the mandate of the new government is also reasonably clear, the NDA is going to form a government in 99% of the situations, which is going to be a stable government because you have 292 seats on a pre-poll alliance, UPA 1, UPA 2 also you would not see one single party having a majority greater than 272, 273, so it is a stable government, that is one thing behind us now.
Valuations in PSU capital goods, infra & defence remain expensive: Pratik Gupta
The macro environment is extremely stable, whether it is the fiscal deficit, the current account deficit, inflation, forex reserves, so that is really one of the big attractions for both global as well as domestic investors.
How should investors reshuffle their portfolio? Arnav Pandya answers
There are two things. One is that there is political posturing which obviously happens because they are going to go into a negotiation. But till the date on which that swearing can happens, the ministers take oath, all this is just in the whole realm of speculation, so one should not make any investment decisions based on this. The second part here and which is the important thing is that if you look closely at what Mr Narendra Modi said in the victory speech, it is very clear that the road to Viksit Bharat, he said, will continue.
Stay patient; don't dabble in risk right away: Maneesh Dangi
It is still likely that Modi would return, but the best case scenario for the market would be a Vajpayee like Modi versus one which continues to have animosity with state because that setup would be very-very bad for market.
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.
Bank Nifty better poised to head higher right now: Rohit Srivastava
A lot of the recent action is due to what we are seeing in global markets as well. So, I am not sure how much of it is solely related to the upcoming elections. However, there is some short-term risk if we close below, say, 22,550, where we are right now.
ETMarkets AIF Talk: This Rs 300 crore fund manager unveils M.E.R.I.T strategy to pick investments for portfolio
Himanshu Kohli, Co-founder of Client Associates, discusses identifying themes early for investors and the fund philosophy emphasizing value in business with strong fundamentals and execution. He mentions raising Rs 300 crore in AUM.
Risk-reward out of favour but a collapse less likely in pre-election week: Anand James
Anand James shares insights on specific stocks like HAL, Coal India, BEL, and the impact of oil refining companies on PSU stocks. James says volatility has been persistent and VIX has been holding steady in the vicinity of or above 20 for nine days. Downside marker may be placed at 22983, for an aggressive positioning, with further support seen at 22800.
What is an 'alpha' in a portfolio? Why is it important?
Learn about the importance of alpha in investing and how it relates to active management. Chirag Muni of Anand Rathi Wealth explains how alpha measures excess returns against benchmarks, emphasizing the value it adds to investment decisions. Muni says alpha on a standalone basis may not be enough as one also needs to factor in risk, this is where beta comes into the picture.
Swaminathan Aiyar wonders how RBI managed to give Rs 2.1 lakh cr dividend to govt, says it will make a huge difference to July Budget
Finance Minister aims to reduce fiscal deficit from 5.8% to 4.5% in two years, relying on non-revenue RBI transfer. This strategy facilitates reaching 5.1% deficit this year. Challenges remain in sustaining revenue deficit reductions alongside fiscal targets. Aiyar says it is not very clear at this point what has resulted in this rise in the RBI dividend. Once we have greater clarity on that, we will be able to find out what are the consequences for different parts of the economy.
Stay put? Raise cash? What should be your portfolio strategy in runup to the Budget?
Kunj Bansal, NISM, recommends a divided investment approach, focusing on long-term and trading portfolios. He elaborates on portfolio strategies pre-Budget, the pharma sector's defensive appeal, and recent underperformance driving market interest. The IT sectoe has corrected significantly and depending on how things shape up we might see the buying interest coming back.
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.
The small-cap landscape, while being challenging, looks somewhat better: Chirag Setalvad
Valuations have moved up but they have to be viewed in the context of the overall growth environment. Large-cap share valuations are at a relatively modest 10-15% premium to their historical averages.
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.
Risk-adjusted returns in rural-linked stocks could be quite significant: Anshul Saigal
Lots of segments are monopolies in this space and there is bound to be interest in this space. There will be further interest in this space and there could be further upsides. Again, easy money has been made, but there is still money on the table and one will have to choose pockets.
ETMarkets Fund Manager Talk: Valuation of PSU stocks isn't as attractive, says Franklin Templeton’s Akhil Kalluri
Akhil Kalluri, VP at Franklin Templeton, discusses PSU stocks, retail liquidity impact, and broader market valuation risks. He also comments on tech stocks, consumption names, and industrial sectors' performance in the March quarter. Kalluri points out that the aggregate topline & EBITDA growth for Nifty 50 names in 4QFY24 so far are relatively muted, in high single digits.
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