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Economic Times
27-06-2025
- Business
- Economic Times
FIIs to return in a big way post BTA with US; IT a big pick for next 18 months: Sunil Subramaniam
Sunil Subramaniam, Market Expert, anticipates a significant return of Foreign Institutional Investors to India after the BTA signing with the US. He suggests focusing on the IT sector for short-term gains, expecting a continued catch-up rally. Private sector lenders, including banks, NBFCs, and gold financing companies, are also highlighted. ADVERTISEMENT The markets are doing really great. Benchmarks as well as the broader markets are throwing up good opportunities. But no matter how much strength the Indian markets show, the foreign institutional investors are not coming back. Do you think the nervousness of FIIs is temporary and they will also come back to Indian markets just like the DIIs? Sunil Subramaniam: Yes, I think so. Over the last six months, there has been so much geopolitical uncertainty, apart from the tariff situation where it does affect India. The Indo-Pak war was India specific and then even in the Israel-Iran war, there was the oil price spike and the fears around that. As a result, internationally, there has been news which has given rise to concern on the short-term implications of this geopolitics on India. That is why compared with the previous time when the Hamas attack or the Russia-Ukraine war, FIIs were not so nervous about the Indian markets, because it was a distance away from India. But this time, it is closer to home, especially considering oil. Now that a ceasefire looks very probable and so from the fact that right from the budget onwards, we have had only positive news around the India front coming through. But the FIIs have not been able to take advantage of this because they were worried. For example, oil has a big impact on multiple sectors, fiscal deficit, everything. So, when you look at an FII, they largely look at India as a stock. And when you put in the risk factors in the stock, oil has a big weightage there and it is very hard for an individual FII to go against the numbers because they do a lot of algorithmic trading. The computer feeds in a lot of negatives about India which are perceived to be negatives. And until they get clarity, they cannot take a call. But now that the oil situation looks to be easing from an uncertain point of view, I think the FIIs are poised to come back to the country in a reasonably big way. But there still remains one uncertain event which will probably be the final trigger post wherein I expect a flood of FIIs money to come in and that is the signing of the BTA. I think there is still uncertainty because the US has gone ahead and signed with the UK. They have kind of done a deal with China. But with India specifically, there has been a lot of action, a lot of bilateral trade meetings happening, both the initial Modi-Trump meeting and even the latest one, Mr Trump said, oh, I am going to do a trade deal with Modi, but it has to be signed and delivered. Meanwhile, in July, the 90-day pause is coming to an end and to that extent, FIIs will still be a bit cautious because they would not want to take a sector call. ADVERTISEMENT In which sector will India come out a winner and where the US will extract some concessions from India is still out in the open. So, they would not like to take that risk now and they would rather wait for the uncertainty to go away before they come back. Otherwise, domestically there is nothing that is a hindrance to their coming in, a very supportive RBI through multiple actions, a supportive fiscal action through putting money in the hands of the middle class, a good monsoon forecast, as well as the ground level GST numbers, the PMI numbers all of which are coming positive. That is why domestic fund managers this month have deployed their cash in a big way. They were also uncertain through the earning season up until the end of May, and now those earnings have come out, it seemed that sequentially all the earnings have done better. Yes, against expectations, it was mixed, but at least that uncertainty is over now. ADVERTISEMENT I want to understand one of your comments which you made on the oil front. You said the situation has eased, and even the price is reflecting that. But in sectors like paints, aviation, what outlook do you hold now? Is it the right time to enter or should one wait and watch? Sunil Subramaniam: When you look at it purely from an oil related perspective, you would say an easing would make sense. But the point is that only one part of aviation, the paints, is the demand side of the business and there is no concern. I see aviation demand really going through quite well and then, you have also seen paints as a part of discretionary. I expect it to do well with the housing sector gaining momentum. So, yes, given that this uncertainty has led to some volatility in the price, it is a good time to accumulate those stocks. But having said so, if one is considering creating a portfolio, doing investment for a longer term, how should one create a mutual fund like portfolio in this market uncertainty. Yes, the undertone of the domestic market is certain, the undertone is bullish, but what are the sectors one should consider? Sunil Subramaniam: I would put this into two buckets. The first is the portfolio for a one, one-and-a-half year period and second is a portfolio for a three, five, seven-year period. The reason I am separating these two out is because in the short run, there have been sectors which have underperformed over the last six months and I expect them to play a catch-up, especially where FIIs have interest because as we just spoke, I expect FII return to happen in a big way post the BTA signing. ADVERTISEMENT So, from a shorter-term perspective, my vote would be to go for IT. I have been saying that for the last couple of weeks. On a six-month basis, the underperformance of the Nifty IT index is about 10% to the Nifty, whereas just a few weeks ago it was 17%. So, already there has been a 7% catchup rally. I expect this to sustain and for it is a next one-and-a-half-year call. IT is a big pick. The second would be private sector lenders whether they are private banks or good quality NBFCs or even gold financing and other companies because the impact of the tax breaks plus the RBI rate cut in terms of reducing EMIs will be felt within the realty, auto, consumer durable space and there the private lenders will do well. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
21-06-2025
- Business
- Time of India
Why UK's F-35 still stranded in India, defence sources explain
Why UK's F-35 still stranded in India, defence sources explain Modi-Trump presser: US to sell F-35 stealth fighter jets, India ready for deeper cooperation US F-35 Jets: A game changer for IAF? All you need to know about fighter jets No formal acquisition for F-35 aircraft as yet: MEA spokesperson Randhir Jaiswal Air India Express flight makes emergency landing in Trichy after mid-air scare Aero India'25 to showcase aviation giants from IAF's CATS warrior, to US F-35, watch! MiG-29 fighter jet crashes near Agra after mid-air system glitch; pilot ejects to safety Uttarakhand airlift failure: Chopper falls off mid-air amidst an airlift by Indian army's MI-17 helicopter
Time of India
18-06-2025
- Politics
- Time of India
Top Headlines of the Day
PM Modi in Canada: Biggest Diplomatic Push Since Operation Sindoor, Set to Face Trump at G7 Summit Prime Minister Narendra Modi has embarked on a strategic three-nation tour to Cyprus, Canada, and Croatia, marking his first foreign visit after India's precision strikes under Operation Sindoor. The tour holds significance as it includes PM Modi's first direct encounter with US President Donald Trump since the ceasefire between India and Pakistan — a truce Trump controversially claimed to have brokered, a claim India flatly denies. The centre-piece of the visit is the G7 Summit in Kananaskis, Canada, on June 16–17, at the invitation of Canadian PM Mark Carney. This tour also offers India a chance to reset strained ties with Canada post-Trudeau, especially over the Hardeep Singh Nijjar controversy. With global eyes on Modi-Trump dynamics, diplomatic recalibration with Canada, and India's strong post-Operation Sindoor posture, the trip could redefine New Delhi's foreign engagements on multiple fronts.#pmmodi #donaldtrump #moditrump #moditrump meeting #modi3nationtour #operationsindoor #moditrumpg7 #indiacanadaties #g7summit2025 #markcarney #modicarneymeeting #modivisit #khalistancontroversy #diplomaticreset #indianforeignpolicy #toi #toibharat #bharat #breakingnews #indianews 81.2K views | 2 days ago
Time of India
16-06-2025
- Politics
- Time of India
PM Modi in Canada: Biggest Diplomatic Push Since Operation Sindoor, Set to Face Trump at G7 Summit
Prime Minister Narendra Modi has embarked on a strategic three-nation tour to Cyprus, Canada, and Croatia, marking his first foreign visit after India's precision strikes under Operation Sindoor. The tour holds significance as it includes PM Modi's first direct encounter with US President Donald Trump since the ceasefire between India and Pakistan — a truce Trump controversially claimed to have brokered, a claim India flatly denies. The centre-piece of the visit is the G7 Summit in Kananaskis, Canada, on June 16–17, at the invitation of Canadian PM Mark Carney. This tour also offers India a chance to reset strained ties with Canada post-Trudeau, especially over the Hardeep Singh Nijjar controversy. With global eyes on Modi-Trump dynamics, diplomatic recalibration with Canada, and India's strong post-Operation Sindoor posture, the trip could redefine New Delhi's foreign engagements on multiple fronts.#pmmodi #donaldtrump #moditrump #moditrump meeting #modi3nationtour #operationsindoor #moditrumpg7 #indiacanadaties #g7summit2025 #markcarney #modicarneymeeting #modivisit #khalistancontroversy #diplomaticreset #indianforeignpolicy #toi #toibharat #bharat #breakingnews #indianews
Hans India
11-06-2025
- Politics
- Hans India
MyVoice: Views of our readers 11th June 2025
Handcuffing incident exposes arrogance of US administration The handcuffing incident exposes the arrogance of U. S. administration, epically while dealing with India and its citizens. The hapless Indian student did not commit any treason, but is facing deportation, for which, he need not be handcuffed. I don't know why parents from India want their children to pursue higher studies in the United States, which has ceased to be an 'Eldorado'. In fact, it is gripped with internal strife, rising violence and racial discrimination. USA may be a superpower, but its administration must not ignore the fact that India is an 'emerging superpower'. R J Janardhana Rao, Gudimalkapur road, Hyderabad-28. An in human act The disturbing incident at Newark has expectedly sparked widespread outrage. Handcuffing an Indian student and pinning him to the ground prior to his deportation is as an 'inhuman' act. Unfortunately, such incidents have been occurring with an alarming frequency. The Modi-Trump friendship should have at least ensured a dignified deportation, rather than treating the student like a criminal or a terrorist. It's imperative that the Indian Government uses its good offices to facilitate smooth deportations of students, without subjecting them to a traumatic treatment that may haunt them all through their life. Ganti Venkata Sudhir, Secunderabad Railways should invest in technology upgrade After every train accident, the railway minister and administrators come up with their versions about how and what led to the mishap. Compensation is released to families of victims immediately. I suggest that the railways should invest more on technology upgrade to ensure safety of drivers, passengers and trains. All engines shall have display screens with aural and visual warning generators. The display screens have to indicate the track ahead, gates, signals and the train ahead along with the speed, acceleration and vibration levels. Audio and visual warnings alert at least one of the drivers and they can work out corrective actions. Moreover, drivers shall be provided with both internal and external communication facilities. Using an internal system, they can update passengers and the guard about the actual facts. Gudipati Anirudh, New Bowenpalli, Secunderabad-11 India returns to space India is poised to script a remarkable chapter in its space journey as Group Captain Shubhanshu Shukla leads the Axiom 4 mission to the International Space Station. More than a scientific venture, this launch symbolises India's growing global stature, scientific ambition, and readiness for long-duration human spaceflight. With ISRO's active support and the Indian Air Force's proud endorsement, it marks a historic return to space by an Indian after four decades. The mission's research will not only advance space science but also lay vital groundwork for India's Gaganyaan program. This is a proud moment—where technology, vision, and national aspirations go beyond the sky. Mohammad Asad, Mumbai Axiom -4 Mission Heartiest congratulations to Group Captain Subhanshu Shukla for his space journey, following in the footsteps of Wing Commander Rakesh Sharma, who ventured into space in 1984. The entire nation is proud of you and supports the team in conducting a series of scientific experiments aimed at enhancing knowledge in microgravity, life sciences, and material sciences, in collaboration with scientists from over 30 countries N S K Prasad, Saket Colony, Hyderabad-62 High five on AI The present era can truly be called the age of artificial intelligence (AI), which is making deep inroads into every aspect of our daily lives- from education to healthcare and from business to industry. In this context, it has become essential for individuals from all walks of life-students, professionals, entrepreneurs, and educators-to understand the appropriate and ethical use of AI. However, the reality is that there are now numerous accessible platforms available to learn the fundamentals and practical applications of AI-such as online courses, webinars, e-learning platforms, and various training programs. Importantly, the knowledge of AI is not limited to technologists alone. It has become an essential skill for students from arts, commerce, and science streams, as well as for working professionals and entrepreneurs. The more people understand and responsibly apply AI, the more it can simplify life, save time, and enhance productivity. We the media to give greater importance to spreading awareness about this transformative technology so that the society can stay informed and empowered, while at the same time removing the misconceptions that exist. Jayanthy Subramaniam, Sion East, Mumbai-22
