Reliance delivered on everything they said. I don’t think there is a risk in Reliance’s current valuations. I still think there is a long way to for Reliance both on the digital and the retail given where India is in that journey. I think this is a beginning of a very long move up. Of course we will have corrections but I don’t think you can take away from compelling story that Reliance has now compared to what it was two years ago.
Andrew Holland, chief executive officer at Avendus Capital Alternate Strategies
NBFCs are facing a problem on the assets side. There can be some stress in the near term. Some of these large NBFCs are in a better position to absorb these losses because of their inherent operating profitability across the capital level but you will see stress even emanating in the NBFC portfolio.
Suresh Ganapathy of Macquarie Capital Securities
We certainly think this is beginning of the downturn and not just a technical correction. Recently, the VIX was really over-weighted for a market that was also going up especially the big tech stocks in the NASDAQ and NASDAQ 100. It is the tech stocks that were really getting pretty frothy. The market is truly record overvalued in the US, higher than the tech bubble. Valuations are higher than 1929 and so we think it is a beginning of something.
Kevin C Smith, CFA-Founder, CEO & CIO of Crescat Capital
Around Rs 25,000-26,000 are going out from liquid and overnight funds and some of the recent returns on that have not been in the right side of investors and the stamp duty of course playing in the minds of many investors. But I do not think that is the reason for redemptions. It is due to a month-end phenomenon and some amount of money has gone out.
Swarup Mohanty, CEO, Mirae Asset Global Investment
If you look at the restructuring circular, it talks about outstanding as on March 1, 2020 being less than 30 days. Obviously all these accounts are performing accounts. So if you look at it from that perspective, I don’t see too many of those accounts coming up for restructuring though they might have taken the first and the second moratorium.
V Srinivasa Rangan, Executive Director, HDFC
In Q1 the net-new total contract value (TCV) was a little lower than what we have announced in the last few quarters. We did see some delays in the pipeline closure, but hopefully we will be able to give some good news on large deals in Q2. We can definitely see that there are some marginal delays but customers are sticking on to large deals being continued. We do hope in Q2 we would be able to announce a few.
Sanjay Jalona, MD & CEO, L&T Infotech
Recently we have come quite close to getting the order for Akash weapon systems. So by year-end we are going to get a big order from Indian army on third and fourth regiment of the Akash weapon systems and also the Astra – air-to-air missiles which are going to come. So including both Astra as well as Akash weapon system, we will get an order of almost Rs 13,000 crore this year. Right now we have got order book of Rs 7,700 crore.
Siddharth Mishra, Chairman & MD, Bharat Dynamics