Market Bizzz

HDFC AMC’s Roshi Jain believes near-term market volatility is not a concern for long-term investors. Indian markets offer opportunities. Jain expects earnings growth to remain in double digits. Government capex may slow, but private sector investment is picking up. The auto sector and banks are promising areas for growth. India’s growth story remains intact.

Hindustan Unilever’s board has approved the demerger of its ice cream business, including brands like Kwality Wall’s and Magnum, into a separate listed entity. Current HUL shareholders will receive shares in the new company. This decision follows a similar move by HUL’s UK parent and aims to maximize shareholder value, given the ice cream business’s distinct operating model.

S Naren, a top executive at ICICI Prudential AMC, shares his approach to investing in new companies. He waits to see how they perform after their IPO. He is also excited about a new fund focused on investing in low-risk stocks, especially from the Nifty index. This fund aims to provide steady returns for investors.

Probably, I think market has started to factor in that this quarter earnings are now off the shelf. The next couple of quarters there will be an improvement in one government spending. Second, we also know the consumption on the bottom of the pyramid in the rural areas they also seem to start to come back.

Goldman Sachs predicts a tough financial environment for India in the near future, with a slowdown in growth and earnings. However, they anticipate a turnaround in the latter half of the next calendar year, driven by stabilizing consumption, RBI rate cuts, and improved earnings visibility in sectors like auto, telecom, and financials.

The BJP’s significant win in the Maharashtra assembly elections is predicted to cause a surge in the stock market, reflecting renewed investor confidence in the government’s economic policies. Experts believe this decisive victory will lead to stability and growth, particularly in sectors like infrastructure and manufacturing.

InterGlobe Aviation has experienced a 22% drop from its 3-month high, currently priced at Rs 3,890.

In October, FPIs sold shares worth Rs 94,017 crore after a September purchase, where FPIs bought domestic equities worth Rs 57,724 crore. While in August, they had purchased shares worth Rs 7,322 crore which was down month-on-month from July when the total buying figures stood at Rs 32,359 crore.

Sanghi Industries, Ambuja Cements and ACC rose 3-4% on Friday and were among the top gainers. Adani Enterprises, the group’s flagship company, gained 2.2%.

Adani Ports and Special Economic Zone (APSEZ) bonds, which fell from 96 cents to 92 cents Thursday, were trading at 90-91 cents Friday evening. Adani Green Energy’s 6.7% March-issued bonds, which traded at 84/85 cents Thursday, held steady at the same levels Friday evening.