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Day after VP Dhankhar's resignation, Rajya Sabha Deputy Chairman Harivansh calls on President Murmu

Day after VP Dhankhar's resignation, Rajya Sabha Deputy Chairman Harivansh calls on President Murmu

Time of India6 days ago
Rajya Sabha Deputy Chairman
Harivansh on Tuesday called on
President Droupadi Murmu
at the
Rashtrapati Bhavan
, her office said.
The meeting comes a day after Vice President
Jagdeep Dhankhar
, who is also the ex-officio chairperson of Rajya Sabha, tendered his resignation to Murmu.
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The Rashtrapati Bhavan also shared a picture of the meeting on X.
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"Shri Harivansh, Deputy Chairman, Rajya Sabha, called on President Droupadi
Murmu
at Rashtrapati Bhavan," it said.
Dhankhar, 74, assumed office in August 2022 and his tenure was till August 2027.
Live Events
The abrupt resignation of Dhankhar came on the first day of the Monsoon session of Parliament.
Harivansh chaired the proceedings of the morning session in the Rajya Sabha on Tuesday.
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Are current market valuations hiding opportunities or risks? Christy Mathai explains
Are current market valuations hiding opportunities or risks? Christy Mathai explains

Time of India

time34 minutes ago

  • Time of India

Are current market valuations hiding opportunities or risks? Christy Mathai explains

Christy Mathai , Fund Manager - Equity , Quantum AMC , says they like buying underpriced companies, aiming to buy at a 25% discount to their intrinsic value. Currently, IT and banking sectors present opportunities due to earnings not reflecting their normalized potential. Relative valuation within sectors, particularly among second or third-tier players, offers prospects. Insurance and AMCs are also viewed favorably. A lot of factors are impacting the market at present – be it the global or local factors, but a clear trigger to boost the market is still missing. The earnings are also not trying to help the market at present. What is your short, medium, and longer-term view on the market? Christy Mathai: When we look at the markets at the current juncture, we are in an easing cycle monetarily. The central bank is trying to revive the credit growth which is lagging from the past couple of quarters and also to stimulate growth in the economy. Broadly some of those can come through because we are sitting at a lower base versus last year but from a normalised perspective, it is nothing so great. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Operations Management Cybersecurity MCA Healthcare Finance Product Management Degree Data Analytics Digital Marketing Data Science others Artificial Intelligence Technology PGDM Management Data Science CXO MBA Project Management Public Policy Others Leadership Design Thinking Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo Coming to the tariff issue , in the last few days, several deals have been done and it looks like the peak uncertainty with respect to tariffs is over even though the India part is not yet solved. So, at the current juncture, given where the valuations are, the market is looking at the earnings trend. If you were to look at some of the numbers that have come out, it seems to be a mixed bag. So, there is no certain acceleration in the company reported numbers. Looking short-term, it is very difficult to say as it is all a function of flows, possibly if the FIIs come back in a big way, we will see some rally, but it is very difficult to call out. But from a medium and long-term perspective, given where valuations are, it will be driven by the earnings trends and in its absence, there is a general expectation of earnings inching up. If that were not to come through, we would be in a state of consolidation for some time. What is your investment philosophy and what are the sectors currently on your radar? Your investment philosophy says that you buy stocks of companies that are at a minimum 25% discount from their intrinsic or fair value. Having said that, these opportunities come when the market, especially in the short term, is fixated and when there are disappointments. Looking at the current trajectory of the market, how are you placed in sectors or the companies that you are looking at, especially the midcaps and smallcaps ? Christy Mathai: Our philosophy is typically trying to buy underpriced companies. If 100 is supposed to be the intrinsic value, we would want to buy it at least 25% cheaper; that is our philosophy. In a way, we run a value style here. From that framework, if you were to look at the current juncture, not a lot of sectors fit into that bucket because many of those sectors are trading at fair or above fair in terms of valuations. Live Events You Might Also Like: Mark Matthews on why FTA with UK, US trade deal shouldn't matter much for India If we were to look at what should be a normalised earnings for a company two to three years out and, some of the sectors like IT, the current two-year, three-year earnings have been somewhere in the vicinity of mid-single digit. Do we think this is where the normalised earnings would be? We think not. We are more exposed to that sector. Same is the case with banking where the recent earnings print is not reflective of what their normalised earnings should be. In this case, there is book value growth. We think those are the opportune sectors to get in. This is a market of relative valuation. In a great sector, the top player would be perfectly priced, but when you move down to the second player or third player, relative to the valuation that the market accords, there could be some opportunities. Hence we are present in some of those names. We think in sectors like insurance, AMCs, etc, those will be some of the great opportunities. Now from a relative market cap segmentation, an investor should have exposure across the breadth. It is how you want and what percentage you want in terms of an exposure. In smallcaps and midcaps, you have to be extremely selective and that is what we are trying to do in some of our funds. We are not exposed much to the euphoric part of the markets –be it capital goods, defence, and so on and so forth, but we are trying to minimise the risk from that perspective. At any point in time, you should have that perfect asset allocation to help you navigate these markets. You Might Also Like: Keep investment goals in mind; focus on a five-year horizon for better results: Shiv Chanani Recently India-UK FTA has been signed. and I want to understand from you, will you be redrawing your strategies in the aftermath of this deal and more importantly you mentioned about the India-US trade deal as well which looks like round the corner, how do you view it? Christy Mathai: We just talked about the India-UK tariff deal, and so we just look from a market perspective. Some of the sectors get impacted, not really much, though it would be great from an economic standpoint that now some of the barriers are out of the way, but not much from a market perspective. 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US-EU trade deal wards off further escalation but will raise costs for companies and consumers
US-EU trade deal wards off further escalation but will raise costs for companies and consumers

Time of India

time36 minutes ago

  • Time of India

US-EU trade deal wards off further escalation but will raise costs for companies and consumers

President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal that imposes 15% tariffs on most European goods, warding off Trump's threat of a 30% rate if no deal had been reached by Aug. 1. The tariffs, or import taxes, paid when Americans buy European products could raise prices for U.S. consumers and dent profits for European companies and their partners who bring goods into the country. Explore courses from Top Institutes in Please select course: Select a Course Category Design Thinking Management Artificial Intelligence Cybersecurity Data Analytics MCA Digital Marketing Product Management healthcare PGDM Leadership others Others Finance CXO Healthcare Technology Data Science Operations Management Degree MBA Project Management Public Policy Data Science Skills you'll gain: Duration: 25 Weeks IIM Kozhikode CERT-IIMK PCP DTIM Async India Starts on undefined Get Details Skills you'll gain: Duration: 22 Weeks IIM Indore CERT-IIMI DTAI Async India Starts on undefined Get Details Here are some things to know about the trade deal between the United States and the European Union: by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pirates Climb Aboard Cargo Ship - Watch What The Captain Did Next Tips and Tricks Undo Many details remain to be decided Trump and von der Leyen's announcement, made during Trump's visit to one of his golf courses in Scotland, leaves many details to be filled in. 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Additionally, the EU side would purchase what Trump said was $750 billion (638 billion euros) worth of natural gas, oil and nuclear fuel to replace Russian energy supplies, and Europeans would invest an additional $600 billion (511 billion euros) in the U.S. 50% U.S. tariff on steel stays and others might, too Trump said the 50% U.S. tariff on imported steel would remain; von der Leyen said the two sides agreed to further negotiations to fight a global steel glut, reduce tariffs and establish import quotas - that is, set amounts that can be imported, often at a lower rate. Trump said pharmaceuticals were not included in the deal. Von der Leyen said the pharmaceuticals issue was "on a separate sheet of paper" from Sunday's deal. Where the $600 billion for additional investment would come from was not specified. And von der Leyen said that when it came to farm products, the EU side made clear that "there were tariffs that could not be lowered," without specifying which products. 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Trump had cited the trade gap with Europe Before Trump returned to office, the U.S. and the EU maintained generally low tariff levels in what is the largest bilateral trading relationship in the world, with some 1.7 trillion euros ($2 trillion) in annual trade. Together the U.S. and the EU have 44% of the global economy. The U.S. rate averaged 1.47% for European goods, while the EU's averaged 1.35% for American products, according to the Bruegel think tank in Brussels. Trump has complained about the EU's 198 billion-euro trade surplus in goods, which shows Americans buy more from European businesses than the other way around, and has said the European market is not open enough for U.S.-made cars. However, American companies fill some of the trade gap by outselling the EU when it comes to services such as cloud computing, travel bookings, and legal and financial services. And some 30% of European imports are from American-owned companies, according to the European Central Bank .

Repono IPO opens for subscription: Check GMP, price band and other details
Repono IPO opens for subscription: Check GMP, price band and other details

Time of India

time39 minutes ago

  • Time of India

Repono IPO opens for subscription: Check GMP, price band and other details

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