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Time of India
4 days ago
- Automotive
- Time of India
Overcharging, arguments affect commuters as cabs, autos go on strike in city
Arguments with passengers and overcharging marred the indefinite strike called by aggregator app-based cab and auto drivers from Friday in the city. Among the worst affected were flyers arriving at the airport and struggling to find further travel options. A woman on her way to a doctor near Amanora Mall said she was mistreated by some autorickshaw drivers on strike. "I had hailed an auto and was on my way to the doctor when a group of other autorickshaw drivers stopped the driver. They snatched his cellphone and forcibly tried to pull me out of the vehicle, stating that a strike was on," she told TOI, choosing anonymity. "They paid no heed even when I said I had a doctor's appointment. When I screamed, they backed off a bit. The auto driver took the opportunity to drive off. How can they indulge in violence like this?" she said. Indian Gig Workers Front has called the strike in Pune, Mumbai and Nagpur demanding fare-by-meter system acknowledgement by state govt and scrapping of e-bike taxis . This story continues on page 4 in the newspaper. For your reading convenience we have added it below. No relief likely from cab & auto strike till Tuesday Pune: The strike called by cab and auto drivers affiliated to aggregator apps led to major inconvenience for commuters in the city on Friday. For instance, in the morning hours, a ride from NIBM Road to Pune airport (around 15km) by auto showed a fare of Rs430 against the normal Rs240 on the Uber app. If one booked an Uber XL, the fare reflected a whopping Rs1,461, and a ride via an Uber Sedan showed a fare of Rs777. A ride via UberGo showed a fare of Rs739, and if one wanted to ride in the Uber Premier category, the fare showed Rs1,096. Elsewhere in the city as well, auto prices almost doubled - a short ride from Karve Road to FC Road cost at least Rs70-80 by auto, versus the usual average of Rs40-50 on aggregator apps. By meter, the same cost comes to around Rs30. Arriving flyers at the airport in the early hours of Friday were especially hassled. Vivek Purekar, who had to go to Kothrud from the airport, said, "I booked an Uber cab, for which the fare is locked advance. Upon reaching the AeroMall from the arrival area, I was told that cab drivers were on strike and I had to take another mode of transportation. Many other flyers besides me were clueless about this. I then wasted around 30 minutes trying to cancel the pre-paid ride and had to take pre-paid autorickshaw to my destination." Ajinkya Bhavane, who came from Delhi and wanted to go to Kalyaninagar, was in for a shock too. "The cab pickup area at the AeroMall was practically empty, and even after repeated attempts over 30 minutes, I couldn't get any cabs. I came outside with my luggage and found an auto driver who asked me to pay Rs500 for the short distance, saying that there was a strike going on. I was in a hurryand had no choice," he rued. Ankit Rai, a Pune resident, wrote on X, "There are no cabs available to commute to work. The aggregator applications are showing triple times surge, and striking drivers are stopping cabs and assaulting the non-striking drivers and also passengers, resulting in passengers being left stranded on the road." Sonu Pandey, who was at the airport late on Thursday evening, also shared his plight on X and posted: "Last night, I witnessed five or six individuals acting like thugs, threatening and physically assaulting cab drivers, forcing them to cancel rides. Meanwhile, regular cabs were charging exorbitant fares - upwards of Rs2,000 for a mere 10km ride. This is a complete disaster." Keshav Kshirsagar, president of the Indian Gig Workers Front, accepted that incidents of violence occurred. "We have been appealing to striking drivers not to indulge in any violence and will continue to do so. On Friday, we also met some officials of the transport department who said they could arrange a meeting with all stakeholders by Tuesday. So, at present, the strike will be on until Tuesday at least until our demands are met," he told TOI. Earlier this year, the Indian Gig Workers Front announced that from May 1, cabs of Ola, Uber and Rapido should charge fares as per state govt-approved rates. App companies had said that for autos, they had already switched to a SaaS (software as a service) model, wherein commuters could book autos via the apps but then fares would be decided by mutual understanding. On May 1, the Gig Workers Front launched the website ' on which govt approved fares would reflect when details were entered. Pune RTO officials had told TOI that once the state aggregator policy comes into effect, this confusion will be cleared. "Once it comes into play, apps will have to adhere to norms and apply for a licence," Pune deputy RTO Swapnil Bhosle had earlier told TOI.
Time of India
5 days ago
- Automotive
- Time of India
Overcharging, arguments affect commuters as cabs, autos go on strike in Pune
Pune: Arguments with passengers and overcharging marred the indefinite strike called by aggregator app-based cab and auto drivers from Friday in the city. Among the worst affected were flyers arriving at the airport and struggling to find further travel options. A woman on her way to a doctor near Amanora Mall said she was mistreated by some autorickshaw drivers on strike. "I had hailed an auto and was on my way to the doctor when a group of other autorickshaw drivers stopped the driver. They snatched his cellphone and forcibly tried to pull me out of the vehicle, stating that a strike was on," she told TOI, choosing anonymity. "They paid no heed even when I said I had a doctor's appointment. When I screamed, they backed off a bit. The auto driver took the opportunity to drive off. How can they indulge in violence like this?" she said. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune Indian Gig Workers Front has called the strike in Pune, Mumbai and Nagpur demanding fare-by-meter system acknowledgement by state govt and scrapping of e-bike taxis . The strike called by cab and auto drivers affiliated to aggregator apps led to major inconvenience for commuters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You To Read in 2025 Blinkist: Warren Buffett's Reading List Undo For instance, in the morning hours, a ride from NIBM Road to Pune airport (around 15km) by auto showed a fare of Rs430 against the normal Rs240 on the Uber app. If one booked an Uber XL, the fare reflected a whopping Rs1,461, and a ride via an Uber Sedan showed a fare of Rs777. A ride via UberGo showed a fare of Rs739, and if one wanted to ride in the Uber Premier category, the fare showed Rs1,096. Elsewhere in the city as well, auto prices almost doubled — a short ride from Karve Road to FC Road cost at least Rs70-80 by auto, versus the usual average of Rs40-50 on aggregator apps. By meter, the same cost comes to around Rs30. Arriving flyers at the airport in the early hours of Friday were especially hassled. Vivek Purekar, who had to go to Kothrud from the airport, said, "I booked an Uber cab, for which the fare is locked advance. Upon reaching the AeroMall from the arrival area, I was told that cab drivers were on strike and I had to take another mode of transportation. Many other flyers besides me were clueless about this. I then wasted around 30 minutes trying to cancel the pre-paid ride and had to take pre-paid autorickshaw to my destination. " Ajinkya Bhavane, who came from Delhi and wanted to go to Kalyaninagar, was in for a shock too. "The cab pickup area at the AeroMall was practically empty, and even after repeated attempts over 30 minutes, I couldn't get any cabs. I came outside with my luggage and found an auto driver who asked me to pay Rs500 for the short distance, saying that there was a strike going on. I was in a hurryand had no choice," he rued. Ankit Rai, a Pune resident, wrote on X, "There are no cabs available to commute to work. The aggregator applications are showing triple times surge, and striking drivers are stopping cabs and assaulting the non-striking drivers and also passengers, resulting in passengers being left stranded on the road." Sonu Pandey, who was at the airport late on Thursday evening, also shared his plight on X and posted: "Last night, I witnessed five or six individuals acting like thugs, threatening and physically assaulting cab drivers, forcing them to cancel rides. Meanwhile, regular cabs were charging exorbitant fares — upwards of Rs2,000 for a mere 10km ride. This is a complete disaster." Keshav Kshirsagar, president of the Indian Gig Workers Front, accepted that incidents of violence occurred. "We have been appealing to striking drivers not to indulge in any violence and will continue to do so. On Friday, we also met some officials of the transport department who said they could arrange a meeting with all stakeholders by Tuesday. So, at present, the strike will be on until Tuesday at least until our demands are met," he told TOI. Earlier this year, the Indian Gig Workers Front announced that from May 1, cabs of Ola, Uber and Rapido should charge fares as per state govt-approved rates. App companies had said that for autos, they had already switched to a SaaS (software as a service) model, wherein commuters could book autos via the apps but then fares would be decided by mutual understanding. On May 1, the Gig Workers Front launched the website ' on which govt approved fares would reflect when details were entered. Pune RTO officials had told TOI that once the state aggregator policy comes into effect, this confusion will be cleared. "Once it comes into play, apps will have to adhere to norms and apply for a licence," Pune deputy RTO Swapnil Bhosle had earlier said.
Time of India
5 days ago
- Automotive
- Time of India
Arguments, fleecing affect passengers during cab and autorickshaw strike in Pune
1 2 Pune: Sporadic instances of arguments and fleecing in several parts of the city marred the strike called by aggregator app-based cab and auto drivers from Friday onwards. In particular, arriving flyers at the airport were majorly inconvenienced by the lack of options to travel to city areas. A woman on her way to a doctor near Amanora Mall said she was mistreated by a group of autorickshaw drivers on strike. "I hailed an auto on the road and was on my way to the doctor when a group of other autowallahs stopped the driver. They snatched away his cellphone and tried to pull me out of the vehicle forcibly, stating that a strike was on. They paid no heed even when I said I had a doctor's appointment. When I screamed, they backed off a bit. The auto driver took the opportunity to drive off. How can they indulge in violence like this?" she told TOI, choosing anonymity. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune The indefinite strike has been called by the Indian Gig Workers Front in Pune, Mumbai and Nagpur. They demand that the fare-by-meter system in cabs be acknowledged as legal by state govt and the decision to operate e-bike taxis also be repealed. The strike led to major inconvenience for scores of commuters in Pune. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Only 2% Intraday Trader Do Market Profile & Book Maximum Profit. TradeWise Learn More Undo For instance, in the morning hours, a ride from NIBM Road to Pune airport (around 15km) by auto showed a fare of Rs430 against the normal Rs240 on the Uber app. If one booked an Uber XL, the fare reflected a whopping Rs1,461, and a ride via an Uber Sedan showed a fare of Rs777. A ride via UberGo showed a fare of Rs739, and if one wanted to ride in the Uber Premier category, the fare showed Rs1,096. Elsewhere in the city as well, auto prices almost doubled — a short ride from Karve Road to FC Road cost at least Rs70-80 by auto, versus the usual average of Rs40-50 on aggregator apps. By meter, the same cost comes to around Rs30. Arriving flyers at the airport in the early hours of Friday were especially hassled. Vivek Purekar, who had to go to Kothrud from the airport, said, "I booked an Uber cab, for which the fare is locked advance. Upon reaching the AeroMall from the arrival area, I was told that cab drivers were on strike and I had to take another mode of transportation. Many other flyers besides me were clueless about this. I then wasted around 30 minutes trying to cancel the pre-paid ride and had to take pre-paid autorickshaw to my destination. " Ajinkya Bhavane, who came from Delhi and wanted to go to Kalyaninagar, was in for a shock too. "The cab pickup area at the AeroMall was practically empty, and even after repeated attempts over 30 minutes, I couldn't get any cabs. I came outside with my luggage and found an auto driver who asked me to pay Rs500 for the short distance, saying that there was a strike going on. I was in a hurry to reach home and had no choice," he rued. Ankit Rai, a Pune resident, wrote on X, "There are no cabs available to commute to work. The aggregator applications are showing triple times surge, and striking drivers are stopping cabs and assaulting the non-striking drivers and also passengers, resulting in passengers being left stranded by the roadsides." Sonu Pandey, who was at the airport late on Thursday evening, also shared his plight on X and posted: "Last night, I witnessed five or six individuals acting like thugs, threatening and physically assaulting cab drivers, forcing them to cancel rides. Meanwhile, regular cabs were charging exorbitant fares — upwards of Rs2,000 for a mere 10km ride. This is a complete disaster." Keshav Kshirsagar, president of the Indian Gig Workers Front, accepted that incidents of violence occurred. "We have been appealing to striking drivers not to indulge in any violence and will continue to do so. On Friday, we also met some officials of the transport department who said they could arrange a meeting with all stakeholders by Tuesday. So, at present, the strike will be on until Tuesday at least until our demands are met," he told TOI. Earlier this year, the Indian Gig Workers Front announced that from May 1, cabs of Ola, Uber and Rapido should charge fares as per state govt-approved rates rather than fares reflecting on apps. App companies had said that for autos, they had already switched to a SaaS (software as a service) model, wherein commuters could book autos via the apps but then fares would be decided by mutual understanding between drivers and commuters. On May 1, the Gig Workers Front launched the website ' on which govt approved fares would reflect when details were entered. At present, many auto and cab drivers have been demanding fares as per the website, but this has created arguments between drivers and customers. State govt has not yet said whether the website is legal. Pune RTO officials had told TOI that once the state aggregator policy comes into effect, this confusion will be cleared. "We should have tightened the noose on aggregator-based vehicles moving without licence but we didn't so that customers don't feel the pinch. Now, we are waiting for the policy. Once it comes into play, apps will have to adhere to norms and apply for a licence," Pune deputy RTO Swapnil Bhosle had earlier told TOI. The Gig Workers Front has stated that since app-based services are operating without licences, the fare-by-meter system must be legally recognised by state govt.
Time of India
01-07-2025
- Business
- Time of India
Sensex zooms 12,000 points in just 3 months! Is the Rs 72 lakh crore stock market rally sustainable? Here's what investors should focus on
The Sensex and Nifty have shown positive performance for four successive months. (AI image) India's benchmark Sensex has witnessed an exceptional increase of 12,000 points within three months resulting in a Rs 72 lakh crore rally. The remarkable 17% increase from April 7's low of 71,425 has driven markets near their peak levels again. The Sensex and Nifty have shown positive performance for four successive months, with domestic institutional investors investing Rs 3.5 lakh crore whilst foreign institutional investors maintained positive net purchases across the quarter. The total market capitalisation of BSE-listed companies has increased by Rs 72 lakh crore, reaching Rs 461 lakh crore, according to an ET report. Investors who remained in cash positions now face significant opportunity costs as both domestic and international capital flows into equities ahead of crucial events, including Trump's July 9 tariff deadline and the upcoming Q1 earnings announcements. Stock market rally: What's the danger? The most important point to note is that the excessive capital inflows have generated concerning disparities between market values and core business metrics, as market experts note that all segments - from large to small capitalization stocks - are currently valued significantly above their historical averages. Market experts are expressing serious concerns about inflated valuations, urging caution as the market approaches crucial deadlines for tariffs and corporate earnings announcements, despite the prevailing optimistic sentiment. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo "We believe this is basically running on liquidity," warns Venkatesh Balasubramaniam of JM Financial Institutional Securities according to the ET report. "Domestic flows have been very strong with monthly SIP numbers over Rs 26,000 crore per month. Since March onwards, FII inflows have turned positive. Definitely this is running on flows." Additionally, mutual funds maintain substantial cash reserves, with May's holdings at Rs 2.17 lakh crore. Also Read | Clearing NSE IPO hurdles: National Stock Exchange offers Rs 1,388 crore to SEBI; aims to settle co-location and dark fibre cases What should investors do? "The first and foremost recommendation to investors is to moderate return expectations," cautions Nilesh Shah, MD of Kotak AMC. "Last five years returns are unlikely to be repeated in the next two to three years. Markets are fairly valued or a little bit over fairly valued, and re-rating is unlikely, which means returns will be linked with earnings growth likely in high single digit, low double digit,' he was quoted as saying. Shah suggests a broader investment approach: "Outside of equity, there are asset classes—REITs, InvITs, debt mutual funds, performing credit, AIFs, precious metals, index or ETFs. Please maintain your asset allocation across debt, equity, commodity, and real estate. Do not put everything in equity." Past data indicates positive prospects for July, with favourable returns recorded in nine out of the previous ten years, averaging 3.6%. Recent performance data shows returns of 3.92% in 2024 and 2.94% in 2023, supporting the month's positive trend. The RBI's recent monetary policy actions, including rate reductions and an unexpected CRR cut, have significantly enhanced domestic liquidity conditions, with the financial sector emerging as the primary beneficiary. "Lower interest rates are helping banks and NBFCs. Credit growth remains strong, and asset quality is stable," notes Krishna Appala of Capitalmind PMS, highlighting financials as a constructive outlook area. According to the report, Karthick Jonagadla of Quantace Research identifies specific opportunities in infrastructure financing: "Lower policy rates and relaxed provisioning norms boost credit growth. PFC and REC leapt ~4% when the RBI's new rules landed, and PSU-bank indices hit six-month highs." Also Read | Top stocks to buy this week: Spotlight on the bulls - check stock recommendations with a 3-month horizon In the ongoing market recovery led by capital expenditure and financial sectors , Mihir Vora of TRUST Mutual Fund observes that "in financials, we have seen capital market plays doing well but banks and NBFCs have lagged" and suggests potential improvement in their performance. Technology stocks, which have underperformed considerably this year, are drawing value-focused interest as price levels become more compelling and business metrics indicate positive momentum. "One can keep an eye on the IT sector which has not performed particularly well year-to-date," advises Atul Bhole of Kotak Mutual Fund. "After every major technology adoption, Indian vendors have actually experienced more volume of work. Large-caps are trading at relatively reasonable valuations and provide dividend yield support of 2-2.5%." The industry's prospects are bolstered by anticipated return to standard business patterns, with Bhole stating that "assuming normal business cycle returning, IT spends can come back" as worries regarding the US economy and AI-driven changes might be excessive. The chemicals industry is garnering renewed attention following a severe market decline over two years, with initial indicators of price stabilisation suggesting potential recovery. "The persistent price fall of 2 years seems to be over and prices are stabilizing now. There are initial hopes for revival by companies," notes Bhole. "Companies are continuously investing behind products, client engagements and facilities. It may need some more patience, but provides a good opportunity to accumulate select chemical stocks." Nevertheless, export-focused pharmaceutical and chemical enterprises might encounter challenges due to US tariff uncertainties, necessitating careful selection of investments within these sectors. Numerous industry segments that previously underperformed compared to the broader market are now displaying positive momentum as domestic consumption strengthens alongside continued policy backing, the ET report said. " Consumer discretionary segments like automobiles (two-wheelers as well as four-wheelers), white goods have lagged and can now start performing," highlights Vora, whilst pointing to better rural demand and consistent urban spending patterns. Also Read | Gold price prediction today: Where are gold rates headed on July 1, 2025 and in the near-term? Appala identifies prospects across consumption categories: "Rural demand is improving, and urban consumption is steady. FMCG, two-wheelers, and discretionary segments are showing healthy trends." The manufacturing and industrial sectors benefit from sustained government capital expenditure, with the PLI scheme bolstering domestic production. "Infrastructure and capital goods companies are seeing strong demand," states Appala, whilst Jonagadla notes that "order books are overflowing—L&T reported a record ₹1 trillion intake in Q4 FY25." The defence sector maintains its strong long-term potential, however recent significant price increases have resulted in valuations that discourage new investments. Defence remains an attractive long-term investment theme, although current elevated price levels and sharp gains warrant caution regarding new positions, as per Appala's assessment. With markets focused on Trump's 9 July tariff deadline and first quarter performance reports, analysts anticipate further gains despite high valuations. Also Read | India-US interim trade deal may be finalised this week, claims report; India hardens stance on agriculture - says 'red lines will not be crossed' "While valuations are elevated in parts, the broader context remains supportive," argues Vora. "Earnings are coming through, liquidity is abundant, and policy remains growth-focused. The uptrend looks sustainable, though we do expect pockets of volatility." Investors should consider strategic allocation across banking sector, value-oriented technology shares, rebounding chemical companies and domestic consumption sectors whilst maintaining balanced portfolios, as the market rally driven by surplus liquidity seeks support from core business performance.
Time of India
01-07-2025
- Business
- Time of India
Rs 72 lakh crore stock market boom flashes valuation warning. Where's the smart money going?
India's equity benchmark Sensex has rocketed an extraordinary 12,000 points in less than three months in a Rs 72 lakh crore rally, leaving cash-sitting investors nursing deep regrets as domestic and foreign money floods into stocks ahead of critical trigger points including Trump's July 9 tariff deadline and the looming Q1 earnings season. The blistering 17% surge from April 7's low of 71,425 has propelled markets to near all-time high once again, with the Sensex and Nifty rallying for four consecutive months as domestic institutional investors splurged Rs 3.5 lakh crore while foreign institutional investors turned net buyers across all three months. During the period, the combined market capitalization of all BSE-listed stocks has soared by Rs 72 lakh crore to Rs 461 lakh crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo "We believe this is basically running on liquidity," warns Venkatesh Balasubramaniam of JM Financial Institutional Securities. "Domestic flows have been very strong with monthly SIP numbers over Rs 26,000 crore per month. Since March onwards, FII inflows have turned positive. Definitely this is running on flows." Besides, mutual funds have been sitting on large amounts of cash with May month's pile at Rs 2.17 lakh crore. The relentless money flow has created a dangerous disconnect between valuations and fundamentals, with analysts cautioning that all market segments, large caps, mid caps, and small caps, are now trading at one standard deviation or more above their mean valuations. Despite the euphoria, seasoned market watchers are sounding alarm bells about stretched valuations and the need for moderated expectations ahead of the tariff deadline and earnings season. Live Events "The first and foremost recommendation to investors is to moderate return expectations," cautions Nilesh Shah, MD of Kotak AMC. "Last five years returns are unlikely to be repeated in the next two to three years. Markets are fairly valued or a little bit over fairly valued, and re-rating is unlikely, which means returns will be linked with earnings growth likely in high single digit, low double digit." Shah advocates diversification beyond equities: "Outside of equity, there are asset classes—REITs, InvITs, debt mutual funds, performing credit, AIFs, precious metals, index or ETFs. Please maintain your asset allocation across debt, equity, commodity, and real estate. Do not put everything in equity." History, however, appears to favor continued gains entering July, with the month delivering positive returns in nine of the last 10 years and an average gain of 3.6%. Recent July performances include 2024's 3.92% return and 2023's 2.94% gain, reinforcing the month's bullish bias. Also Read | 6,000-point Sensex rally overshadows market's real story: Smallcaps are staging a revolt Which sectors to invest in? The Reserve Bank of India's aggressive monetary support through recent rate cuts and a surprise CRR reduction has turbocharged domestic liquidity, with financials emerging as the top beneficiary sector. "Lower interest rates are helping banks and NBFCs. Credit growth remains strong, and asset quality is stable," notes Krishna Appala of Capitalmind PMS, highlighting financials as a constructive outlook area. Karthick Jonagadla of Quantace Research sees particular opportunity in infrastructure financiers: "Lower policy rates and relaxed provisioning norms boost credit growth. PFC and REC leapt ~4% when the RBI's new rules landed, and PSU-bank indices hit six-month highs." While capex and financials have led the recovery, Mihir Vora of TRUST Mutual Fund notes that "in financials, we have seen capital market plays doing well but banks and NBFCs have lagged" and could now start performing. Technology stocks, which have lagged significantly year-to-date, are attracting contrarian interest as valuations turn attractive and fundamentals show signs of improvement. "One can keep an eye on the IT sector which has not performed particularly well year-to-date," advises Atul Bhole of Kotak Mutual Fund. "After every major technology adoption, Indian vendors have actually experienced more volume of work. Large-caps are trading at relatively reasonable valuations and provide dividend yield support of 2-2.5%." Also Read | July's magic touch: Nifty has failed only once in last 10 years. Will history repeat? The sector's appeal is enhanced by expectations of a normal business cycle returning, with Bhole noting that "assuming normal business cycle returning, IT spends can come back" as concerns over US economy and AI-led disruption may be overdone. The chemical sector is attracting contrarian interest after enduring a brutal two-year downcycle, with early signs of price stabilization offering hope for revival. "The persistent price fall of 2 years seems to be over and prices are stabilizing now. There are initial hopes for revival by companies," notes Bhole. "Companies are continuously investing behind products, client engagements and facilities. It may need some more patience, but provides a good opportunity to accumulate select chemical stocks." However, export-oriented pharma and chemicals could face headwinds amid U.S. tariff uncertainty, requiring selective stock picking within the sector. Several sectors that have lagged the broader rally are now showing signs of life as domestic demand improves and policy support continues. "Consumer discretionary segments like automobiles (two-wheelers as well as four-wheelers), white goods have lagged and can now start performing," highlights Vora, noting improving rural demand and steady urban consumption. Appala sees opportunity in consumption broadly: "Rural demand is improving, and urban consumption is steady. FMCG, two-wheelers, and discretionary segments are showing healthy trends." In manufacturing and industrials, government capital expenditure remains high with the PLI scheme supporting domestic production. "Infrastructure and capital goods companies are seeing strong demand," notes Appala, with Jonagadla adding that "order books are overflowing—L&T reported a record ₹1 trillion intake in Q4 FY25." While defence remains a compelling long-term theme, recent sharp rallies have made valuations prohibitive for fresh investments. "We continue to like defence as a long-term theme. However, after a sharp rally and expensive valuations, we are cautious on adding fresh exposure at current levels," warns Appala. As markets navigate Trump's July 9 tariff deadline and Q1 earnings season, the consensus points toward continued upside potential despite elevated valuations. "While valuations are elevated in parts, the broader context remains supportive," argues Vora. "Earnings are coming through, liquidity is abundant, and policy remains growth-focused. The uptrend looks sustainable, though we do expect pockets of volatility." The key for investors lies in selective positioning across financials, underperforming IT stocks, recovering chemicals, and domestic consumption plays while maintaining diversified portfolios as the liquidity-driven rally seeks fundamental validation. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
