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Economic Times
27-06-2025
- Business
- Economic Times
Looking for narrative stocks? These four themes look promising: Anand Radhakrishnan
Live Events You Might Also Like: Expect positive trend as benefits of rate cuts & consumption boost trickle down: Anand Radhakrishnan You Might Also Like: FIIs to return in a big way post BTA with US; IT a big pick for next 18 months: Sunil Subramaniam (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel , MD,, says Indian markets show interesting trends. Sustainability efforts gain traction. Manufacturing , especially defence, sees strength. Premium goods and services experience rising demand. Technology-based disruption companies emerge in logistics, e-commerce and fintech. These new-age companies show volatility. But some establish strong market presence. Sustainability, premiumization , manufacturing, and technology disruption offer opportunities. These four themes look promising for the currently there are multiple themes in the market. One is on the sustainability theme where not only in India, but globally, there has been a concerted effort to push towards decarbonization, alternate energy, electrification, recycling, etc. In India also, some of the companies which have been engaged in these spaces generally have got some tailwind. Though at the margin we have seen some moderation in the global push towards sustainability because of various policy issues globally, we have seen that in the domestic market there is a reasonable continued tailwind on are other themes also which have been currently focused. One is on the manufacturing side; we have seen defence being a subset of the Atmanirbhar or Make for India theme. We have seen reasonable strength. The companies have been declaring good numbers on the manufacturing side, be it the industrial goods companies as well as defence manufacturing companies. Some of the companies that supply ancillaries and equipment to railways, have been declaring good numbers and have healthy order books. That theme continues to remain fairly third theme which we feel is gaining a little bit momentum is the so-called premiumization trend. As the income levels go up, the demand for goods and services especially on the premium end of the market has been going up – be it in automobiles, financial services, wealth management, apparel, retailing system, in short multiple sectors. The companies that are engaged in the manufacturing and the delivery of premium goods and premium services have been trending at a faster growth rate and that is why the companies are less volatile, their earnings more resilient and provide very good multi-year growth the fourth trend which we see in the market is the technology-based disruption companies, like Eternal, Swiggy, Policybazaar, etc. We also expect more companies in logistics, delivery systems, e-commerce, fintech, food tech and healthcare technology. Though some of these new-age companies tend to be more volatile, there is a lot of uncertainty around their profitability, the business models are nascent and evolving but some of them are pretty strong and have established a moat and footprint in the marketplace. So, we would remain very constructive. A combination of all these four themes, sustainability, premiumization, manufacturing, and technology-based disruption look pretty interesting as the markets stand the earnings growth is little healthier as we go down the cap curve and largecap companies declared earnings growth are less than the mid and small-sized earnings growth. So, to that extent, one can justify a growth-led premium as we go down the cap curve. But growth is not the only reason why stock should value, there are stabilities, qualities, capital efficiency, transparency, there are many issues where we still have to justify why we should pay a significant premium to small we go down, while the growth gets more interesting, the valuations make it a very tight rope walk for us and therefore, we need to trade off between good growth companies which are valued very richly and moderate growth companies that are valued a lot more moderately in the marketplace. Yes, we are sacrificing growth for some margin of safety, but from a portfolio perspective, that is a very tricky trade off fund managers have to make while they are investing down the cap the largecap, we do see pockets of dull growth. For example, IT companies have been growing at low single digits and the visibility seems to be still very challenging for them. Some of the commodity companies continue to be volatile in earnings and there is no clear trend on global commodity prices which makes it tough for one to allocate big money. Similarly, the utility companies are little bit low growth. So, within the basket of largecaps, the proportion of moderately growing companies is very high whereas in the mid and small-sized stocks, we see the breadth being pretty healthy, more point on valuation is growth-led valuation, and the other is liquidity-led valuation. As we speak today, the mid and smalls-sized companies seem to be predominantly supported by the domestic investors, not so much by the foreign institutional investors per se. We need to be a little careful and watchful of the domestic liquidity conditions.
Time of India
27-06-2025
- Business
- Time of India
Looking for narrative stocks? These four themes look promising: Anand Radhakrishnan
Anand Radhakrishnan , MD, Sundaram Mutual Fund , says Indian markets show interesting trends. Sustainability efforts gain traction. Manufacturing , especially defence, sees strength. Premium goods and services experience rising demand. Technology-based disruption companies emerge in logistics, e-commerce and fintech. These new-age companies show volatility. But some establish strong market presence. Sustainability, premiumization , manufacturing, and technology disruption offer opportunities. These four themes look promising for the markets. There are a lot of themes in this market, solar, EV, defence. They are called narrative stocks . Where are these strong narratives moving because that is where a lot of fresh money is moved into defence stocks , railway stocks, solar stocks and EV stocks? Anand Radhakrishnan: Yes, currently there are multiple themes in the market. One is on the sustainability theme where not only in India, but globally, there has been a concerted effort to push towards decarbonization, alternate energy, electrification, recycling, etc. In India also, some of the companies which have been engaged in these spaces generally have got some tailwind. Though at the margin we have seen some moderation in the global push towards sustainability because of various policy issues globally, we have seen that in the domestic market there is a reasonable continued tailwind on that. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Alarmes Esse novo alarme com câmera é quase gratuito em Barra Mansa (consulte o preço) Alarmes There are other themes also which have been currently focused. One is on the manufacturing side; we have seen defence being a subset of the Atmanirbhar or Make for India theme. We have seen reasonable strength. The companies have been declaring good numbers on the manufacturing side, be it the industrial goods companies as well as defence manufacturing companies. Some of the companies that supply ancillaries and equipment to railways, have been declaring good numbers and have healthy order books. That theme continues to remain fairly strong. The third theme which we feel is gaining a little bit momentum is the so-called premiumization trend. As the income levels go up, the demand for goods and services especially on the premium end of the market has been going up – be it in automobiles, financial services, wealth management, apparel, retailing system, in short multiple sectors. The companies that are engaged in the manufacturing and the delivery of premium goods and premium services have been trending at a faster growth rate and that is why the companies are less volatile, their earnings more resilient and provide very good multi-year growth opportunities. Finally, the fourth trend which we see in the market is the technology-based disruption companies, like Eternal, Swiggy, Policybazaar, etc. We also expect more companies in logistics, delivery systems, e-commerce, fintech, food tech and healthcare technology. Though some of these new-age companies tend to be more volatile, there is a lot of uncertainty around their profitability, the business models are nascent and evolving but some of them are pretty strong and have established a moat and footprint in the marketplace. So, we would remain very constructive. A combination of all these four themes, sustainability, premiumization, manufacturing, and technology-based disruption look pretty interesting as the markets stand today. Live Events You Might Also Like: Expect positive trend as benefits of rate cuts & consumption boost trickle down: Anand Radhakrishnan The valuations for the broader end of the market continues to remain higher than their historical averages and barring the last couple of trading sessions, we have seen outperformance from the SMID basket. Where do you believe the broader end is placed in terms of valuations and what is your outlook on large versus the SMID stocks ? Anand Radhakrishnan: Clearly the earnings growth is little healthier as we go down the cap curve and largecap companies declared earnings growth are less than the mid and small-sized earnings growth. So, to that extent, one can justify a growth-led premium as we go down the cap curve. But growth is not the only reason why stock should value, there are stabilities, qualities, capital efficiency, transparency, there are many issues where we still have to justify why we should pay a significant premium to small companies. As we go down, while the growth gets more interesting, the valuations make it a very tight rope walk for us and therefore, we need to trade off between good growth companies which are valued very richly and moderate growth companies that are valued a lot more moderately in the marketplace. Yes, we are sacrificing growth for some margin of safety, but from a portfolio perspective, that is a very tricky trade off fund managers have to make while they are investing down the cap curve. Within the largecap, we do see pockets of dull growth. For example, IT companies have been growing at low single digits and the visibility seems to be still very challenging for them. Some of the commodity companies continue to be volatile in earnings and there is no clear trend on global commodity prices which makes it tough for one to allocate big money. Similarly, the utility companies are little bit low growth. So, within the basket of largecaps, the proportion of moderately growing companies is very high whereas in the mid and small-sized stocks, we see the breadth being pretty healthy, etc. One more point on valuation is growth-led valuation, and the other is liquidity-led valuation. As we speak today, the mid and smalls-sized companies seem to be predominantly supported by the domestic investors, not so much by the foreign institutional investors per se. We need to be a little careful and watchful of the domestic liquidity conditions. You Might Also Like: FIIs to return in a big way post BTA with US; IT a big pick for next 18 months: Sunil Subramaniam
Time of India
17-06-2025
- Business
- Time of India
India's growth under PM Modi: Viksit Bharat 2047, $30 trillion goal, key reforms and welfare milestones
People of the country have been reposing the confidence on Namo for three consecutive terms as the Prime Minister continuously. The spirit of the governance in the Union Government carrying with timely reforms to excute the finance, Industry, services pertaining to the ease of living and Infrastructure in sphere of Antyodaya has been marching towards Vikasit Bharat 2047 with Atmanirbhar under the dynamic leadership of Narendra Modi. As we know the our country size of Economy was 11th largest in the world in ranking when Narendra Modi took charge as the Prime Minister of our country, it has been reached to 4th rank with 4.20 Trillion Dollars Economy and experts are projecting as 3rd rank in the next 3 years by surpassing Germany. Prime Minister Narendra Modi's target is to achieve a $30 trillion economy and per capita income of $26,000 by 2047, this is possible only when there are job will have inclusive growth in the lives of the all sections of the people in the country. As per the statistics from the NITI Aayog , nearly 25 crore people have come out from the acute poverty. Now the Union Government objective is to attain the target towards increase in the per capita GDP and Income with its relentless efforts for the achievement of Vikasit Bharat. Despite the past 11 years, the economies of many developed countries in the world have collapsed or underperformed or slow downed due to the prevailing global conditions, India is the only country that has managed to withstand the pressure and register the highest growth rate. Even under such severe international economic pressure, the World Bank estimates that India will achieve the highest growth rate in the world at 6.7% for the current fiscal year 2025 - 26. Prime Minister Narendra Modi governance beauty is balancing the development and welfare intandem along with the reforms and proper fiscal measures. During the Modi regime, between 2014-19, the reforms focused on improving the systems and creating basic infrastructure. In this process, between 2019-24, the 111 Lakh Crores Gati Shakti Yojana and Atmanirbhar Bharat saved the country from the uncertainty of Corona and the supply chain disruption due to the Ukraine-Russia war. It is the significant development that India's Atmanirbhar in weapons enhanced brand image of our country in the national defense systems, particularly in ' Opertaion Sindoor ' precision strikes in POK and Pakistan terrorists points post Pahalgam terror attacks that our country has become quality indegenous defense equipment supplier in the global arms market. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Costco Faces Worst Nightmare As 87¢ ED Pill Takes Over Friday Plans Get Offer Undo We can be experienced physically about the development and welfare programmes have been implementing with the spirit of Antyodaya for last 11 years and continuing the same. During the 11 years of Namo givernsnce, over Rs 42.54 lakh crore cash transfers under various schemes have been deposited in 55 crore Jan Dhan accounts linked with Aadhar and mobile phones of beneficiaries without any leakages. Swachh Bharat initiative was in the year 2014 for the construction of toilets have been completed 12 Crores in 5.64 lakh villages under ODF till now, Houses for poor and needed 1.3 crore urban poor and 2.8 crore rural poor prople have been completed through PMAY, safe drinking water has been provided to 15.54 crore rural households through Jal Jeevan Mission, drinking water and infrastructure in cities through the expenditure of AMRUT scheme for Rs. and now AMRUT 2.0 is commencing with Rs. , 7,555 projects have been completed under Smart City at a cost of Rs 1.51 lakh crore, free rice has been provided to 80 crore people in the last 5 years through Garib Kalyan Anna Yojana, 49.56 crore Mudra loans have been sanctioned, 9.35 crore people have been provided medical treatment through PM Ayushman Bharat, 7.57 lakh km of roads have been built through Gramin Sadak Yojana. Live Events In addition to above, 6 thousand per year to 11 crore farmers under PM Kisan Samman Nidhi for agriculture inputs, crores of metric tons of urea subsidy have been distributed, through Fasal Bima Yojana Compensation for farmers on their crop losses, Per Drop More Crop through Krishi Sanchai Yojana, Skill training for youth, PM Svanidhi for street vendors, PM Vishwakarma for artisans, Lakpati Didi - Drone Didi for the SHG women, PM Surya Ghar Yojana for current bill control, and many more welfare programs are being implemented among 140 crore people with the spirit of Antyodaya. One important initiation from the Union Government under the leadership of the Prime Minister Narendra Modi is ' PM JANMAN ' programme for construction of houses with additional financial assistance, construction of roads to connect the unconnected habitations, safer drinking water network, solar power installations, schools and hospitals as a priority in the 'Particularly Vulnerable Tribal Group ( PVTG) areas for uplifting the lives of the trible population living far away in forests and hill terrains without any livable infrastructure As far as development projects in the governance of Prime Minister Narendra Modi is concerned , remarakable achievement attained by reaching the total length of national highways in India is 146,195 km by December 2024, it was 91,287 km in 2014. In Railway lines: The total length of railway tracks in India was 1,16,765 km in 2014, and by 2024, it has reached to 135,207 km of track length. Indian Railways operates as the fourth largest national railway system in terms of size. As of August 2024, 96.59% of the broad-gauge network has been electrified in the country. The Ministry of Railways has initiated the redevelopment of 1275 stations across the country in 2023 as Amrit Bharat stations. In which, 103 stations were inaugurated by Prime Minister Narendra Modi recently, and work is underway on the remaining stations. The construction of airports, seaports and industrial corridors have been done and is going on at a record pace and Green and renewable energy is utmost priority for the environment protection and cost effective for the consumers, Prime Minister Narendra Modi sets target 500 giga watt Renewable energy by 2030 as part of the Vikasit Bharat effort by 2047, to establish India as a Viswa Guru, it is possible only if every state in the country develops and contributes it's share. Prime Minister Modi's Vikasit Bharat goal is, anticipated the significant growth in the per capita GDP and Income to contribute in the projected 30 Trillion Dollars Economy by 2047 from the existing 4.20 Trillion Dollars Economy. As a Chairman of the Twenty Points Programme Implementation, Andhr Pradesh that I request to make necessary reforms and change the name as PM Vikasit Bharat Implementation Programme with the blessings of Prime Minister Narendra Modi by restructuring the existing Twenty Points Programme for monitoring, review and reporting on the implementation of the current centrally sponsored schemes and projects aligning with the State Governments for the performance assessment of NITI Aayog recommended SDGs. Prime Minister Narendra Modi recalls ' Reform - Perform - Transform ' with the transparent system to render the services to the public in the spirit of Janata Janardan. (Lanka Dinakar, Chairman for Twenty Points Programme Implementation)
India Gazette
11-06-2025
- Business
- India Gazette
Gujarat CM Bhupendra Patel to attend 'Khedut Sammelan' as part of 150th birth anniversary celebrations of Sardar Vallabhbhai Patel tomorrow
Gandhinagar (Gujarat) [India], June 11 (ANI): Gujarat Chief Minister Bhupendra Patel will preside over the Khedut Sammelan to be held on Thursday in Bardoli -- the 'Karma Bhumi' of Sardar Saheb -- as part of the 150th birth anniversary celebrations of Sardar Vallabhbhai Patel. Inspired by Prime Minister Narendra Modi, the 150th birth anniversary of Sardar Saheb is being celebrated across the country with various programs embodying the vision of 'Ek Bharat, Shreshtha Bharat', according to a release from the CMO. Under the leadership of the Prime Minister, the Viksit Krishi Sankalp Abhiyan, held across various states from May 29 to June 12, is paving the way for making farmers and the agriculture sector truly Atmanirbhar. The Viksit Krishi Sankalp Abhiyan was launched by Union Agriculture Minister Shivraj Singh Chouhan on 29th May from Odisha. The campaign will now conclude in the presence of the Union Agriculture Minister on Thursday, 12th June, at Bardoli -- the 'Karma Bhumi' of Sardar Saheb -- along with the Khedut Sammelan, the release added. Fulfilling the vision of Prime Minister Narendra Modi for AtmaNirbhar Krishi and AtmaNirbhar Kisan, the Viksit Krishi Sankalp Abhiyan has aimed to bring agricultural technology to villages and create awareness among farmers about the proper use of micro-nutrients and other technologies. Under this campaign, more than 4 lakh farmers across 2,250 rural clusters in 31 districts of Gujarat have been covered. On this occasion, Chief Minister Bhupendra Patel and Union Agriculture Minister Shivraj Singh Chouhan will e-inaugurate the Centre of Excellence for Horticultural Crops in Porbandar district, the Centre of Excellence for Banana and Vegetables in Petlad taluka, and the Primary Processing Centre which has become operational in Kutch, for the benefit of farmers in the state. Additionally, the e-inauguration of 14 godowns with a total storage capacity of 25,000 metric tonnes and the e-Foundation Stone Laying of the Centre of Excellence for Sugarcane in Bardoli will also be held during the Khedut Sammelan. The Khedut Sammelan, organised by the State Government's Department of Agriculture, Farmers' Welfare and Cooperation, will take place on Thursday, 12th June, at 10:00 AM at the Sankari BAPS Mandir Complex in Bardoli. Agriculture Minister Shri Raghavji Bhai Patel will also grace the event, the release added. (ANI)
The Hindu
11-06-2025
- Business
- The Hindu
Cabinet approves two multitracking projects across Jharkhand, Karnataka and Andhra Pradesh
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved on Wednesday (June 11, 2025) two railway projects covering seven districts in Jharkhand, Karnataka and Andhra Pradesh with a total cost of ₹6,405 crore. One of them is the doubling of the 133-km-long Koderma-Barkakana track, which not only passes through a major coal-producing area of Jharkhand but also serves as the shortest and a more efficient rail link between Patna and Ranchi. The second project is the doubling of the 185-km Ballari-Chikjajur track that traverses through Ballari and Chitradurga districts of Karnataka and Anantapur district of Andhra Pradesh. According to the government, the approved multi-tracking project will enhance connectivity to approximately 1,408 villages, which have a population of about 28.19 lakh. 'These are essential routes for transportation of commodities such as coal, iron ore, finished steel, cement, fertilisers, agricultural commodities, petroleum products, etc. The capacity augmentation works will result in additional freight traffic of magnitude 49 MTPA (Million Tonnes Per Annum),' it said. The increased line capacity will significantly enhance mobility, resulting in improved operational efficiency and service reliability for Indian Railways. These multi-tracking proposals are poised to streamline operations and alleviate congestion, a government press note said. 'The projects are in line with Prime Minister Narendra Modiji's vision of a New India, which will make people of the region 'Atmanirbhar' by way of comprehensive development in the area which will enhance their employment/self-employment opportunities,' it said. The Railway Ministry said that the projects are a result of the PM-Gati Shakti National Master Plan for multi-modal connectivity which have been possible through integrated planning and will provide seamless connectivity for the movement of people, goods and services. 'The two projects covering seven districts across the states of Jharkhand, Karnataka and Andhra Pradesh, will increase the existing network of Indian Railways by about 318 Kms,' the Ministry added. Talking about their environmental benefits, the Ministry said that the Railways, being an environmentally friendly and energy-efficient mode of transportation, will help both in achieving climate goals and minimising the logistics cost of the country, reduce oil imports (52 crore litres) and lower CO 2 emissions (264 crore kg), which is equivalent to the plantation of 11 crore trees.
