“The pain of very large corporate NPAs that they recognised over the last four-five years has now gone away and they are going through a period of normalisation. We are a little more comfortable with the higher-quality PSUs and I think SBI clearly stands out out there.”
"The IPO market is clearly very hot. Given the fact that these are primary issuances, I would rather not speak about specific IPOs. But I think given the fact that market sentiment is overall very strong, retail participation is aggressive, small and midcaps are kind of doing very well."
In Wipro, TCS, LTIMindtree and Infosys, FII stakes are 2-3 percentage points below the peak holding during rate hike cycle. For Tech Mahindra, the difference is as wide as 9 percentage points. With rate cycle turning, the view is big deal wins will soon resume from large clients
When Nykaa was listed Zomato, Paytm, all of these were highly loss-making and none of them had a clear path to profitability. Nykaa, Info Edge and EaseMyTrip were the very few digital platforms that could actually make money. When listed market participants were trying to value companies, it was a lot easier to value a company which was profit making.”
"We need to increase defence spending and also de-risk. Therefore we have seen a lot of traction in the Make in India programme. Now, this is very beneficial for both defence PSUs as well as companies such as Bharat Forge, et cetera, which are starting to build out their defence practices. For Bharat Forge, this is particularly important given that a reasonable part of the businesses are still dependent on internal combustion engine kind of lines of business."