PMS TALK
Metals, hospitality in focus as GST cuts reshape market themes, cautious on NBFCs: Ashish Chaturmohta
The recent GST rate cuts have sparked a rally across consumption-linked sectors, with NBFCs, metals, hospitality and cement stocks emerging as key talking points for investors.
ETMarkets PMS Talk| REITs and InvITs poised for multi-decade structural growth in India, says Alt’s Rahul Jain
Rahul Jain from Alt highlights the rise of REITs and InvITs as mainstream assets for Indian HNIs, boasting a near ₹4 trillion market cap. These listed real assets offer a blend of stable income, liquidity, and diversification, poised for significant growth due to regulatory reforms and increasing retail participation. An inflection point has been reached, mirroring global trends.
PM Narendra Modi and Chinese President Xi Jinping likely to hold one-on-one meeting on Sunday
Narendra Modi is expected to meet Xi Jinping in Tianjin. This marks Modi's first China visit in seven years. Discussions will aim to rebuild India-China ties. Direct flights between the two nations may resume in September. Talks will cover border de-escalation and trade. The meeting follows previous discussions in Kazan last year. It occurs amid US tariffs on Indian goods.
ETMarkets Smart Talk| Smallcaps in oversold zone; likely to outperform in next 12 months: Naveen Kulkarni
Indian markets are showing positive economic signs. Inflation is easing and rate cuts are expected. Naveen Kulkarni of Axis Securities PMS suggests smallcaps are undervalued. GST reforms could boost consumption. Sectors like autos, hospitality, and BFSI are in focus. Growth stocks may outperform value stocks. Investors are eyeing opportunities beyond largecaps for better returns in the coming months.
Will not tolerate insult to Bengali language or motherland: West Bengal CM Mamata Banerjee
Mamata Banerjee asserted her commitment to protecting West Bengal from perceived attacks on its language and culture, particularly concerning the treatment of migrant workers and accusations of infiltration. She criticized the central government's alleged economic blockade and divisive tactics, while highlighting Bengal's historical contributions and cultural significance.
ETMarkets Smart Talk - GST rationalisation a game-changer for consumption, says Anil Rego
India's markets are poised for growth, fueled by structural reforms and a recent sovereign rating upgrade. GST rationalization is expected to boost consumption, benefiting consumer staples, autos, and retail. Increased foreign capital inflows are anticipated, favoring infrastructure, manufacturing, and financials, while domestic cyclicals and mid-caps present compelling investment opportunities.
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F&O Talk| Nifty breaks 6-week losing streak, reclaims 24,600 but struggles for momentum: Sudeep Shah
Nifty ended a six-week losing streak with a 1.1% gain, reclaiming 24,600, but still struggling for momentum, says Sudeep Shah of SBI Securities. Bank Nifty remains range-bound, while OI data points to consolidation. Select stocks like Muthoot Finance and Apollo Hospitals show bullish setups.
ETMarkets PMS talk | Alternative managers gaining ground: 70% of PMS capital now with non-institutional players, says Manish Bhandari
Manish Bhandari highlights PMS sector growth driven by independent managers, with 70% of institutional capital managed outside traditional institutions. He sees economic benefits in closer India–China–Russia ties, favours infrastructure, cement, healthcare, and selective auto ancillary plays, stressing valuation discipline and diverse strategies.
ETMarkets PMS Talk: Indian equities fairly valued but need earnings boost, says Sanjay Chawla
Sanjay Chawla of Baroda BNP Paribas Mutual Fund believes Indian markets are fairly valued. Earnings growth is crucial to justify current valuations. He downplays the impact of US tariffs on Indian exports. Retail investors show resilience amid foreign portfolio outflows. Consumption and healthcare sectors offer potential. Geopolitical and macroeconomic uncertainties persist. Festive demand may improve earnings in coming quarters.
ETMarkets PMS Talk | PMS strategies set to outperform mutual funds in next couple of years: Sushant Bhansali
Ambit Asset Management believes PMS will beat mutual funds soon. Concentrated portfolios can better capture alpha. Only select companies will show high earnings growth. Consumption stocks may rise with tax breaks and rural recovery. Good monsoon may boost rural demand. Earnings have been in line, but expectations were muted. High single-digit earnings growth is expected from Q3 onwards.
Early retirement: Here’s how 3 people achieved financial freedom, quit rat race to pursue their dream jobs in second innings
Quit the grind, not your goals. Lessons in financial freedom from those who are living life on their own terms.
ETMarkets PMS Talk: From Rs 1 crore to Rs 8.8 crore – Sameeksha Capital’s 26% TWRR journey over a decade, Bhavin Shah decodes
Sameeksha Capital’s India Equity Fund has delivered a stellar 26% annualized return since its 2016 launch, growing Rs 1 crore to Rs 8.8 crore by mid-2025. Under Bhavin Shah’s disciplined bottom-up approach with strong risk management, the fund consistently outperforms, delivering alpha across market cycles and excelling even during downturns, with selective bets in IT, chemicals, and digital sectors.
ETMarkets PMS Talk: From PE to public markets — Sonal Minhas on finding the next big winners
Sonal Minhas shares insights on India's investment potential at the APMI conference in Mumbai. He suggests that while India shows economic growth, high nominal growth expectations are unlikely. Minhas recommends focusing on small and mid-cap stocks for alpha generation. He highlights specialty chemicals, MSME-focused banking, and auto ancillary as promising sectors.
Don't blindly trust any brand, company to last forever, track new flows to better investing, advises this MF house CEO
Capitalmind Mutual Fund, the newest entrant in the Rs.75 tn Indian MF industry, relies on quant-based, data-driven strategies over subjective calls. Momentum is a key pillar, but the approach remains flexible. Deepak Shenoy, CEO, Capitalmind MF, tells ET Wealth what investors can expect from the fund house and its latest flexi-cap fund offering.
Time to buy may be good or bad, but business should be good: 5 mid-caps from different sectors with upside potential of up to 25%
A consistent dividend (or thoughtful buybacks) is less about the cheque you receive and more about capital allocation: It signals a management’s willingness to share cash when reinvestment opportunities are absent, and it often points to better governance. In short, prefer mid-caps that demonstrate the repeatability of returns on capital, fund growth largely from internal accruals, convert profits to free cash flows, and treat minority shareholders fairly; these traits won’t eliminate drawdowns, but they tilt the odds toward resilience and faster recovery when the cycle turns.
ETMarkets AIF Talk | Rs 1 crore in 2017 would have grown meaningfully today: Bhavdeep Bhatt, CEO, Northern Arc Investment Managers on consistent credit AIF returns
Northern Arc Investment Managers highlights the consistent double-digit returns delivered by credit AIFs, emphasizing strong underwriting and data-driven risk management. Their flagship fund has shown significant growth since 2017, with no capital erosion. As India's bond market expands amid falling interest rates, the firm advocates for investors to consider this resilient asset class, noting increased corporate bond issuances.
Thailand Cambodia border clash: Thailand says over 100,000 civilians flee amid clashes with Cambodia
Intense fighting between Thailand and Cambodia has displaced over 100,000 people, prompting international calls for a ceasefire. The clashes, involving heavy weaponry and air power, have resulted in a rising death toll and an emergency UN Security Council meeting. Both sides accuse each other of initiating the violence, escalating a long-standing border dispute.
ETMarkets PMS Talk | Cash flow, return on capital key to identifying wealth creators: Priyankar Sarkar of Square 64
Priyankar Sarkar's Square 64 Capital Advisors LLP's multicap fund has delivered impressive returns, emphasizing consistent cash flow and ROCE. Their investment strategy focuses on value-oriented, high-quality businesses overlooked by the market. The fund maintains diversification through sector limits and tactical cash positions, navigating volatile markets with a cautious approach to valuations.
Anand Shah on why he remains positive on metal pack, manufacturing
ICICI Prudential AMC's Anand Shah notes muted global ferrous metal profitability due to strong Chinese exports, impacting steel company earnings. He is optimistic about margin recovery in select chemicals and metals, citing attractive valuations. While positive on manufacturing, particularly defense and railways, valuations are becoming less appealing. Cement sector consolidation and potential demand growth offer opportunities.
The Golden Thumbrule: From Hated to Hot - Aniruddha Sarkar on spotting sector turnarounds before the crowd
Aniruddha Sarkar shares his thumb rule for wealth creation in Indian equities. He emphasizes identifying sectoral themes early. Sarkar highlights capital allocation, consumer behavior, and technological shifts. Government policy also plays a key role. He differentiates between cyclical and secular trends. Sarkar recalls identifying opportunities in PSU, defence, and power sectors.
Analysts see sustained FPI inflows, await clarity on tariffs and global rate cuts
The auto sector in India attracted significant foreign investment in late June. This surge followed earlier outflows. Other sectors like oil & gas and financials also saw increased investment. Telecommunication and IT sectors experienced fund infusions too. Analysts anticipate continued foreign inflows. Tariff outcomes and global rate cuts will influence future investment trends. Sector-specific and valuation-driven approaches are expected.
ETMarkets PMS Talk: Smart beta and quantitative investing are becoming mainstream: Rakesh Pujara on the future of investing
The interview discusses the rapid evolution of India's options market, regulatory measures, and the role of derivatives. It covers Smallcases' performance, systematic investing, and market outlook for 2025, favoring large caps. It also explores momentum investing risks, algorithmic trading advancements, and the growing adoption of rule-based investing. Lastly, it highlights the launch of CWA Smart Select.
ETMarkets PMS Talk: Why InCred Healthcare PMS is overweight on hospitals and diagnostics for 2025
InCred healthcare portfolio offers a structural investment product that invests in 5 different baskets of businesses like Branded Generics, Hospitals, Diagnostics, CDMO/API, Generics. The investment framework follows a bottom-up strategy to prepare a concentrated portfolio of 15-20 stocks, which are expected to deliver high double-digit earnings growth with a potential for valuation multiple expansion.
PMS Talk: Anirudh Garg turns Rs 50 lakh to Rs 2.5 cr since 2020; secures place in top 10 PMS funds in FY24
Anirudh Garg from INVasset PMS shares insights on market trends, strategic shifts, and investment performance, emphasizing the importance of identifying new leaders during bull runs and adapting promptly to sector changes for optimal returns.
ETMarkets PMS Talk: Value, visibility & validation help this fund manager pick stocks for PMS fund
Hemant Shah of Seven Islands PMS prioritizes growth opportunities in investments, focusing on value, visibility, and validation. The fund's performance, market analysis, investor criteria, stock selection, and risk management strategies reflect a comprehensive approach to investment management. Shah says: "Market sentiment appears to be driven by profit-taking due to steep valuations rather than negative external factors."
ETMarkets Fund Manager Talk: Why is this Rs 1,900-crore PMS manager still bullish on midcaps and smallcaps?
Amit Gupta says: "Energy transition, Make in India and capex would be the key themes, going forward. Over FY22-23, the capex cycle was primarily driven by household investments in real estate and the central government. Consequently, all the engines of the capex cycle have now started to fire (centre, state, corporates and households)."
ETMarkets PMS Talk: This 600-cr fund manager focuses on price value gaps to identify stocks for portfolio & manage risk
"We are bottom-up stock selectors. We look for market inefficiencies to identify opportunities, and we believe in market efficiency for these opportunities to turn profitable. We like to identify ‘change’ in business fundamentals which can lead to ‘change’ in growth or ‘change’ in valuation – or both. We are long-term investors with a minimum of 3–5-year horizon."
ETMarkets PMS Talk: How investing in sector leaders early help this fund manager earn multibagger returns
"Elections do bring volatility. If one were to look at data for the last 30 years, despite the short-term volatility around pre and post election results, markets have given positive returns in almost all the terms of different political parties across this period. Given that we have had a good run up in the recent past, our guess is that we may see higher volatility as the election season comes closer."
ETMarkets PMS Talk: Anil Rego explains framework for stocks that could turn multibaggers in 3-5 years
"We have a multibagger framework which we use to identify equities which might turn multi-baggers in a 3-5 year timeline. We use the GARV (Growth at reasonable valuation) style to identify potential multibaggers which again are aligned to sectors of growth. The major effort is in identifying companies with a strong strategic moat."
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