Anuj Kapoor of JM Financial discusses the tax efficiency of arbitrage funds for HNIs and the growth of new millionaires in Tier 2 and Tier 3 cities. He highlights the interest in unlisted opportunities, strategic advisory for family businesses, and the impact of market volatility on investments. Kapoor says: "Funds focussed on the manufacturing, defence, PSUs, which have been underperformers over the last decade, have shown strong performance and have delivered stellar returns."
Amit Goel says Indian stocks are one of the greatest bubbles ever in the history of global capital markets. He anticipates that over the next 3-4 years, huge downsides are going to open up in Indian equities. Goel advises diversifying from Indian equities to other asset classes amid market volatility. He recommends a macro top-down strategy for better protection and returns.
Aditya Sood of InCred Asset Management anticipates high market valuation with strong earnings growth in Nifty50 companies. India s stock market premium valuations are supported by superior ROE and high growth potential over the next decade. Sood says: "The market return is going to be a function of earnings growth rather than multiple expansion."
Dr Joseph Thomas from Emkay Wealth Management discusses Indian economy growth and corporate profitability. He analyzes market trends, including small & midcap valuation, and crude oil demand-supply factors affecting market dynamics. Dr Thomas further says: "The market yields are rising day by day and in this context, it is important to note that the rise in the indexes in the last three months has been quite rapid."
Chandraprakash Padiyar expects FY25 as a consolidation year for markets, emphasizing better risk-reward in banking and housing sectors. Valuations in mid-cap space are high, while small-cap offers more stock picking opportunities at reasonable valuations. Padiyar says: "We believe the banking sector along with housing related sectors have better risk-to-rewards in our markets for the foreseeable future."