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Here's what key voices from the world of business and markets told CNBC-TV18 today


Here is what market gurus and industry captains told CNBC-TV18 today on how they see the near-term play out.

Here's what key voices from the world of business and markets told CNBC-TV18 today
We have seen concentration at high levels in the market now for a while. We see an acceleration in growth and as growth accelerates, smaller firms do better. We think the economy is heading for better times in the next couple of years and if that is happening then the broad market outperforms the narrow market going into 2021.
Ridham Desai, Head of India Equity Research & India Equity Strategist, Morgan Stanley
As per the given advisory, the consistent dividend policy needs to be followed in the following respects. First, 30 percent should not be treated as a maximum kind of a thing, it is a minimum so they should strive to give more dividends. The second is the frequency of the interim dividend could be higher and 90 percent of the projected dividend should be paid as an interim dividend. This will ensure that the shareholders can keep the money as dividends as they go.
Tuhin Kanta Pandey, DIPAM Secy
The construction sector happens to be one such sector which creates lots of employment. So that seems to be the focus of the government stimulus package and anything relating to the construction sector, infrastructure creation etc – that is the broad overall theme for the stimulus.
Dinesh Kumar Khara, Chairman at State Bank of India (SBI)
I would expect a widening and broadening of the market performance. For the first time we are seeing an earnings upgrade cycle across the board in India, more importantly, that should continue for the next 2-3 years. If that happens, then the entire widening and broadening of the market which I am hoping for will definitely come through.
Sandeep Bhatia, Head of Cash Equities, India, Commodities and Global Markets at Macquarie Group
This market peaked out at 11,800 in September 2018. However since then, we have made several higher highs but those are irregular B-wave patterns which indicate that there will be substantially larger up moves further over the next 5 years but in between, the kind of hara-kiri that we saw in the first of 2020, I am unable to rule out a repeat of that, at least getting down to something like 8,000 also going forward over the next 6 months.
Sushil Kedia Founder of Kedianomics
Even though the banks have been on a bit of a tear over the last month or two, the fact remains that year-to-date it has been one of the underperformers. If you look at the valuations, we continue on a bottom-up basis to find the valuations in some of these banks and financial institutions, to be quite attractive.
Vetri Subramaniam, Group President & Head-Equity, UTI AMC
We are waiting for clearance from the government of Karnataka to commence our mining operations. There is an amendment to be made in MMR Act which we will have to ensure that there is a premium to be paid. We expect to commence operations in Q3 of FY21. The prices are at a discounted to imported landed prices, but then most of our sales are in the domestic market and prices are competitive with respect to other miners. Prices are on an uptick, steel prices are going up and we hope to increase prices also in the near future.
Sumit Deb, Chairman & Managing Director, NMDC
We expect that we may not be able to catch up with last year's performance on an overall basis. Revenue should be 20-25 percent lower than last year. The company has participated in domestic RFPs worth Rs 23,000 crore and around Rs 3,500 crore in the international market. We expect some positive responses against these RFPs.
Sanjeev Singhal, Director Finance, Mazagon Dock Shipbuilders
We think that the NPAs would not have increased even if the SC dispensation had not come. Our NPAs are at a four-year low and last year we were able to resolve two projects with an exposure of Rs 2,850 and this year we were able to resolve two more projects for Rs 1,350 and we are in the process of resolving two more state projects with the amount of Rs 5,300. So the impact on the book for different projects is of a different kind.
Ravinder Singh Dhillon, CMD, Power Finance Company
Considering the sharp run-up which we have seen and the announcements which have come, I expect possibly the larger banks to relatively underperform the Bank Nifty at least in the very short term. I think the third quarter will be the real answer as to how the banks are ultimately going to come out. As far as stock price performance goes, I think I will not be in a hurry to buy now, especially after the sharp run-up which we have seen. The impact of the announcements of the government’s stimulus may be that it could possibly provide a slight dent as far as the stock price performance of banks goes at least in the near future.
Mehraboon J Irani, MD & CEO, Gini Gems
Our priority and focus in the current financial year is to bring down net debt levels because that had gone up a little above our comfort level during Q1 because of the COVID-related disruptions. The Production-linked incentive (PLI) scheme is a very good initiative by the government to encourage domestic manufacturing and investment. There are a lot of original equipment manufacturing (OEMs) looking to localise to reduce the uncertainty in the supply chain. The company is in active discussion with them to set up capacities.
TR Srinivasan, CFO, Varroc Engineering
We will definitely look at the price hike at the end of Q3, every year we do that to maintain our margins. Going forward if the raw material prices increase then we will have to look at the annual price increase to maintain the EBITDA margins of around 21 percent so we have to wait and watch.
K Chandrasekar, CFO, Page Industries
The reforms that were announced yesterday will certainly help unlock some amount of liquidity for EPC players and infra developers and that is a welcome move. I think the liquidity situation is improving, the banks are coming forth to and give credit limits - that part is looking good. In terms of the business as such, the tolling numbers have shown great resilience, the revenues have bounce backed tremendously on the tolling side. In the quarter gone by, the toll revenues have improved from Rs 291 crore to Rs 391 crore, it is almost Rs 100 crore jump that we witnessed.
VD Mhaiskar, CMD, IRB Infra
We have had a phenomenal bull rally from the bottom of March and it has been one of the best bull rallies that we have seen after 2009 across the world. Having said that, we have to accept that this has been a bull rally engineered by the global central banks led by the Federal Reserve and while I do agree that we are going to have a broadening of the market rally that we have seen because it was a very narrow rally.
Naren, ED & CIO, ICICI Prudential AMC
Digital is a really exciting chapter for us. It was already a significant part of our business close to 15 percent last year. In Q2, almost 40-50 percent of our business has been online and it is growing 20 percent year-on-year.
Kulin Lalbhai, Director, Arvind Fashions
If you take all the stimulus together, it is about 2 percent of GDP and that is the maximum space in my view that the government can do at this stage without damaging the fiscal deficit too much. The government has not said that this is the last round. So I think it is okay for the economy given that we are seeing a recovery of growth and in February we should be expecting more announcements from the government and that should help the growth momentum to sustain in the medium term.
Kaushik Das, Chief Economist at Deutsche Bank
There is huge growth happening in the online space and in this COVID era, we have seen traffic on the website is much higher and their time that spends on eJOHRI has gone by 3x and 4x on the website. So there is a lot of positivity happening in the last two months. Being an omnichannel, customers have got choices to buy online or buy directly at the store. The majority of the transaction online shopping is Rs 50,000 and below, so there are ticket sizes transaction also happening like Rs 2-3 lakh but the number of those transactions are less. But online ticket size is growing every year, in the last couple of years every year, it is growing at least 20-25 percent.
Jitandra Singh, co-founder & CEO, eJOHRI
My sense is some consolidation can happen and should happen. We have seen a sharp run-up, we are seeing some rotation also from pharmaceutical, IT, and COVID themes to some value and non-COVID depressing themes. Banking and financials have been one of the beneficiaries of this move. So some consolidation will happen. I think a lot of positives are getting priced in.
Gurmeet Chadha, co-founder and CEO, Complete Circle Consultants
We found the home improvement category rebounding much faster than estimates. We also found that granular data on the velocity of sales of affordable housing to be much brighter than imagined. So on all fronts, the CERA brand and the brand promise that has been created over 40 years has delivered.
Ayush Bagla, Executive Director, CERA Sanitaryware

Market Movers

Titan Company1,840.20 68.65 3.88
HDFC2,554.65 92.60 3.76
IndusInd Bank1,022.05 34.05 3.45
Nestle18,284.10 569.45 3.21
SBI446.50 11.60 2.67
Titan Company1,839.15 68.90 3.89
HDFC2,553.95 91.65 3.72
Nestle18,318.00 608.95 3.44
IndusInd Bank1,021.45 33.50 3.39
UltraTechCement7,850.00 210.40 2.75
JSW Steel740.30 -6.40 -0.86
Bajaj Auto3,828.20 -13.35 -0.35
Shree Cements29,203.50 -90.75 -0.31
Tata Steel1,407.20 -2.85 -0.20
NTPC117.65 -0.10 -0.08
Bajaj Auto3,828.00 -12.65 -0.33
Tata Steel1,407.10 -2.85 -0.20
NTPC117.60 -0.20 -0.17


Rupee-100 Yen0.68020.00030.05