‘Investors should explore MFs as FDs offer low real rate of returns’
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Vinay M. Tonse, MD and CEO at SBI Mutual Fund, is a veteran SBI banker. He was posted as CEO of SBI’s Osaka branch in Japan from 2009 to 2013. In previous assignments with the bank, he oversaw treasury, focusing on equities and mutual funds, giving him a chance to evaluate mutual funds from an investor’s point of view. He then managed large corporate relationships for SBI. His last posting was in Chennai in retail banking before taking over the helm of SBI Mutual Fund in August 2020. Tonse spoke to
Pandemic concerns this time won’t extend beyond 2-3 months: A Balasubramanian of Aditya Birla Sun Life AMC
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Pandemic concerns this time won’t extend beyond 2-3 months: A Balasubramanian of Aditya Birla Sun Life AMC
A Balasubramanian, Managing Director and CEO of Aditya Birla Sun Life AMC - Manoej Paateel
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Fiscal stimulus, friendly monetary policy and firm commodity prices point towards normalcy, says the MD and CEO of Aditya Birla Sun Life AMC
The resurgence of Covid has shaken up a seemingly invincible equity market with a broad-based correction now underway. The recent monetary policy review seems to have halted rate increases in their tracks. A hands-on money manager who has seen the Indian stock and bond markets weather three complete cycles, A Balasubramanian, Managing Director and CEO of Aditya Birla Sun Life AMC, offers his views on the strategies that both equity and debt investors must follow now, in an exclusive interaction.
Bought by: SBI MF
Besides the qualified institutional placement (QIP), a key factor which has caught fund manager’s attention towards the stock of Max Healthcare is its buying of 42.8 per cent stake in Saket City Hospitals (South Delhi) from Kayak Investments Holding. The company already had 57.2 per cent in Saket City Hospitals. This increase in stake has come at a time India’s healthcare sector is growing given the increasing demand for beds and other ailments associated with the pandemic. The company has 16 healthcare facilities. Analysts estimate that the company is likely to maintain its return on capital employed in the range of 24-25 per cent for the next one year given its strong presence in metros, relatively high free cash flows and improving occupancy levels.
FY21 has been a paradoxical year for the equity markets. While the pandemic played havoc with economic activity across the world, stock markets showed a diagonally opposite behaviour. Amid the new highs scaled by the markets during the year, we are yet to see a sizeable and sustainable pickup in economic activity.
Green shoots are emerging and over the past two quarters growth is apparently coming back on a low-base effect and pent-up demand.
The domestic equity market continues to be riding higher with intermittent bouts of decline. The Sensex has gone up from 37,000 in late September 2020 to trade around 50,000 level currently. The scorching pace at which the market has scaled all-time high levels has been perplexing to many retail investors. India’s market-cap-to-GDP ratio was now at a 20-year high of 104 as on March 18, 2021. The ratio was at 56 in March 2020, which was the sharpest decline in it. Even on price to earnings (PE) ratio, the current valuations are way above hist
India Business News: Banks that depend on additional tier-1 (AT1) bonds to meet their capital needs may not be out of the woods yet. This, despite a finance ministry memo