Latest news with #SudipBandyopadhyay
Economic Times
3 days ago
- Business
- Economic Times
Is a market rally sustainable now and how soon will it see a correction? Sudip Bandyopadhyay explains
Sudip Bandyopadhyay, Group Chairman, Inditrade Capital, anticipates continued market volatility due to tariff uncertainties and geopolitical tensions, including the ongoing Ukraine-Russia war. Despite this volatility, the Indian market demonstrates resilience and a positive bias, fueled by consistent inflows from both global and domestic investors. This sustained inflow supports a generally optimistic outlook for the Indian market. The bulls are back. The market seems to be taking volatility in its stride, climbing the walls of worry since the past few days. Why are we seeing this kind of optimism on the street? Sudip Bandyopadhyay: A couple of things: One, the war cloud over West Asia dissipating was good news for the global equity markets and the positive mood which was prevailing in the world markets did percolate back to India as well. So, there was cheer all around. Of course, India gets more enthused when the oil prices start coming down and oil prices where they are is definitely good news for India. Apart from that, what acted in favour of Indian markets was that Thursday was the monthly F&O expiry day and that led to a lot of short covering in the markets. A cumulation of these factors – general positive sentiment prevailing all over, global oil prices coming down, rupee appreciating, and the short covering seen in the market led to the rally which took Nifty past 25,500. But the big question on everybody's mind is that will there be steam ahead for the bulls to surge and is this rally sustainable and how soon will the market see correction? Sudip Bandyopadhyay: Well, a couple of things I would like to point out very clearly. One, the global markets and Indian markets will continue to remain volatile. The volatility will stem from the tariff-related uncertainties and the future shenanigans around the tariff. We will also have a lot of tension on the geopolitical front. As you rightly pointed out, temporarily there is a ceasefire, and one cannot rule out a flare up once again. The Ukraine-Russia war is still continuing. There is a lot of stress in different parts of the world. So, yes, the volatility will be there and that volatility will affect global equity markets including India. So, we should be prepared for volatility. We should not assume that the market will be on an absolutely peaceful one-way trajectory. The second point is that, in spite of volatility, the way the markets have behaved over the last few months, there is a certain amount of resilience and a certain amount of positive bias for the Indian market. So, the mood is definitely positive. Whether we talk about the global investors or the domestic investors, their outlook on India continues to be positive. The flows into the market – be it domestic, mutual fund, or other funds, flow into the market on a continuous basis is significant and that to an extent is leading to this kind of inflow into the market which is sustaining a continuous positive bias for the markets. So, when you talk about these perceived volatilities that we will perhaps see because of the kind of tensions that may emanate out of the global geopolitical setup, but domestically one would believe that due to a good monsoon that could be in store for Indian companies, it is going to be a big positive factor and of course, the onset of the festive season is coming soon. What is your medium-term view in terms of the kind of moves that we are likely to see as far as the Indian markets are concerned? Are you comfortable with the valuations at present? Sudip Bandyopadhyay: A couple of points that you touched upon are very important. The domestic factors do look good. They are still not very good, but there are hopes of things improving. One is definitely a good monsoon will lead to significant upside in rural consumption which definitely corporate India needs. We will also see the spillover impact of that positive rural consumption on urban and semi-urban India, and this is absolutely critical for us. We are already seeing the capital expenditure promised by the government in the union budget getting implemented and that is absolutely good news. Corporate India has tightened belts. Cost efficiencies have increased significantly. So, we are all waiting for the quarterly numbers or the performance of the corporates to improve significantly from here on. Now, whether the improvement comes in Q2 or Q3, Q4 we will have to wait and watch and a lot of factors will determine that. The inflation is under control and that is leading to RBI being able to cut interest rates, that is good for growth and good for the corporate performance. So, overall, we think the groundwork which is being laid at this stage for corporate performance is very positive. Under these circumstances while the valuation even today does look a bit rich in multiple pockets, the opportunity of valuation or the corporate performance catching up with valuation in the near future is definitely there. Having said that, I will also say that the market works in the future. If there is an expectation of good numbers and good performance going forward, markets will start discounting that very-very soon. So, we have to remember that valuation always moves ahead of actual performance. There is nothing wrong with that. The next point I would like to mention is that there are still pockets in the Indian market where the valuation is attractive. So, if one is coming into the market, there are pockets, there are stocks, there are segments where even now buying looks attractive. As far as today's session is concerned, we did see some profit taking in defence stocks with BEL and Mazagon Dock and HAL, they fell in the range of 2% to 3%. Why do you think investors are not looking at defence with a long-term view? Sudip Bandyopadhyay: Investors always look at defence with a long-term view. I do not think there is any problem with that. When a war starts anywhere in the world and that gets wide publicity, defence stocks all over the world go up. And when the war ends, defence stocks correct to an extent. This is absolutely normal par for the course. So, we should not read too much into that. The moment this war flared up, whether it is the India-Pakistan skirmish or this West Asia conflict, defence stocks went up significantly from where they were and once the war stops, the stocks do correct. There is a saying that you buy defence stocks when there is peace and sell defence stocks when the war starts, that is how you should manage your portfolio for optimum returns.
Time of India
3 days ago
- Business
- Time of India
Is a market rally sustainable now and how soon will it see a correction? Sudip Bandyopadhyay explains
Sudip Bandyopadhyay , Group Chairman, Inditrade Capital , anticipates continued market volatility due to tariff uncertainties and geopolitical tensions , including the ongoing Ukraine-Russia war. Despite this volatility, the Indian market demonstrates resilience and a positive bias, fueled by consistent inflows from both global and domestic investors. This sustained inflow supports a generally optimistic outlook for the Indian market. The bulls are back. The market seems to be taking volatility in its stride, climbing the walls of worry since the past few days. Why are we seeing this kind of optimism on the street? Sudip Bandyopadhyay: A couple of things: One, the war cloud over West Asia dissipating was good news for the global equity markets and the positive mood which was prevailing in the world markets did percolate back to India as well. So, there was cheer all around. Of course, India gets more enthused when the oil prices start coming down and oil prices where they are is definitely good news for India. Apart from that, what acted in favour of Indian markets was that Thursday was the monthly F&O expiry day and that led to a lot of short covering in the markets. A cumulation of these factors – general positive sentiment prevailing all over, global oil prices coming down, rupee appreciating, and the short covering seen in the market led to the rally which took Nifty past 25,500. But the big question on everybody's mind is that will there be steam ahead for the bulls to surge and is this rally sustainable and how soon will the market see correction? Sudip Bandyopadhyay: Well, a couple of things I would like to point out very clearly. One, the global markets and Indian markets will continue to remain volatile. The volatility will stem from the tariff-related uncertainties and the future shenanigans around the tariff. We will also have a lot of tension on the geopolitical front. As you rightly pointed out, temporarily there is a ceasefire, and one cannot rule out a flare up once again. The Ukraine-Russia war is still continuing. There is a lot of stress in different parts of the world. So, yes, the volatility will be there and that volatility will affect global equity markets including India. So, we should be prepared for volatility. We should not assume that the market will be on an absolutely peaceful one-way trajectory. Live Events You Might Also Like: Overall situation rosier than expected; we are getting into peace, not war & India is in a sweet spot: Swaminathan Aiyar The second point is that, in spite of volatility, the way the markets have behaved over the last few months, there is a certain amount of resilience and a certain amount of positive bias for the Indian market. So, the mood is definitely positive. Whether we talk about the global investors or the domestic investors, their outlook on India continues to be positive. The flows into the market – be it domestic, mutual fund, or other funds, flow into the market on a continuous basis is significant and that to an extent is leading to this kind of inflow into the market which is sustaining a continuous positive bias for the markets. So, when you talk about these perceived volatilities that we will perhaps see because of the kind of tensions that may emanate out of the global geopolitical setup, but domestically one would believe that due to a good monsoon that could be in store for Indian companies, it is going to be a big positive factor and of course, the onset of the festive season is coming soon. What is your medium-term view in terms of the kind of moves that we are likely to see as far as the Indian markets are concerned? Are you comfortable with the valuations at present? Sudip Bandyopadhyay: A couple of points that you touched upon are very important. The domestic factors do look good. They are still not very good, but there are hopes of things improving. One is definitely a good monsoon will lead to significant upside in rural consumption which definitely corporate India needs. We will also see the spillover impact of that positive rural consumption on urban and semi-urban India, and this is absolutely critical for us. We are already seeing the capital expenditure promised by the government in the union budget getting implemented and that is absolutely good news. Corporate India has tightened belts. Cost efficiencies have increased significantly. So, we are all waiting for the quarterly numbers or the performance of the corporates to improve significantly from here on. Now, whether the improvement comes in Q2 or Q3, Q4 we will have to wait and watch and a lot of factors will determine that. The inflation is under control and that is leading to RBI being able to cut interest rates, that is good for growth and good for the corporate performance. You Might Also Like: Where should you pick stocks within strong structural trends? Dhiraj Agarwal explains So, overall, we think the groundwork which is being laid at this stage for corporate performance is very positive. Under these circumstances while the valuation even today does look a bit rich in multiple pockets, the opportunity of valuation or the corporate performance catching up with valuation in the near future is definitely there. Having said that, I will also say that the market works in the future. If there is an expectation of good numbers and good performance going forward, markets will start discounting that very-very soon. So, we have to remember that valuation always moves ahead of actual performance. There is nothing wrong with that. The next point I would like to mention is that there are still pockets in the Indian market where the valuation is attractive. So, if one is coming into the market, there are pockets, there are stocks, there are segments where even now buying looks attractive. As far as today's session is concerned, we did see some profit taking in defence stocks with BEL and Mazagon Dock and HAL, they fell in the range of 2% to 3%. Why do you think investors are not looking at defence with a long-term view? Sudip Bandyopadhyay: Investors always look at defence with a long-term view. I do not think there is any problem with that. When a war starts anywhere in the world and that gets wide publicity, defence stocks all over the world go up. And when the war ends, defence stocks correct to an extent. This is absolutely normal par for the course. So, we should not read too much into that. The moment this war flared up, whether it is the India-Pakistan skirmish or this West Asia conflict, defence stocks went up significantly from where they were and once the war stops, the stocks do correct. There is a saying that you buy defence stocks when there is peace and sell defence stocks when the war starts, that is how you should manage your portfolio for optimum returns.
Time of India
4 days ago
- Business
- Time of India
Be cautious on Voda; Bharti Airtel & Bharti Hexacom better investment options: Sudip Bandyopadhyay
Sudip Bandyopadhyay , Group Chairman, Inditrade Capital , says Vodafone's AGR dues and operational struggles continue despite some positive developments. The company faces significant financial challenges with substantial dues and ongoing customer losses. So, Vodafone remains a speculative stock. Bandyopadhyay recommends Bharti Airtel or Bharti Hexacom as better investment options in the telecom sector due to their strong performance and potential benefits from future price hikes. Let's talk about the telecom space and everything we are seeing happening with Vodafone on one hand, while on the other hand, Bharti Airtel was at a life-time high yesterday. What are you making of the telecom space especially after the minister's comments that they prefer that the Indian telecom market is not a duopoly? Sudip Bandyopadhyay : The statement is definitely a welcome development from a Vodafone perspective. But we have seen too many flip-flops and too many things changing as far as Vodafone and this entire AGR due related issue. Of course, conceptually we should not have a duopoly and we should have more players and competition, but the reality is Vodafone has been suffering for a very long time. And beyond all these dues, operationally also Vodafone has not been performing well. They are still losing customers on a monthly basis and that definitely points to operational weakness. Yes, the rate of loss of customers on a monthly basis has come down, but the fact remains that they are still losing customers and that definitely is not a good sign. Of course, the balance sheet needs major amendment, because even at the end of this year, unless something is done, their AGR dues is about Rs 16,000 crore and there is no way Vodafone can pay this amount through internal accruals. So, they need either a waiver or a postponement by the government or some kind of major fund infusion because bank loans are very difficult for them to get. Under these circumstances, Vodafone still remains a speculative stock and if one has to play the telecom space, they should look at Bharti Airtel or Bharti Hexacom. Both are doing well and are definitely good buys. Even if we look at the last price hike which the telecom companies took, the biggest beneficiary has been Bharti Airtel. The flow into the P&L has been best for Bharti. One more hike is expected during the current fiscal and that should benefit Bharti Airtel disproportionately. Under these circumstances that is one stock one should look at. We have seen a lot of new regulations coming into play with respect to the life insurance companies and insurance as a whole. They are also undertaking a big campaign when it comes to the life insurance side of the business. What do you make of the insurance pack? How do you see things moving from here because everyone is talking about the big opportunity in growth for these insurance players? But a lot really has to come into the numbers as well. Sudip Bandyopadhyay: Insurance is humongous and we are just scratching the surface. But the reality is, as you rightly said, these have not flown into the numbers of the listed companies at least and under these circumstances, one has to take a slightly long-term view if you are investing in insurance companies. Life insurance is a sector which has got significant potential and amongst the listed companies, LIC merits attention for multiple factors. While the performance has not been anything great in the recent past compared to private peers, the fact remains that the potential is huge and things have started improving at LIC's level and valuation-wise it still definitely seems attractive compared with private peers. Live Events You Might Also Like: Telecom industry AGR shows modest 1.7% rise in Q4 FY25 So, LIC from a long-term perspective can be definitely looked at. One can look at SBI Life as well and it also offers value for money opportunity at this stage considering the strength in bancassurance and the strength of channel business as far as this insurance is concerned. You Might Also Like: Duopoly not good, must have competition in every sector: Jyotiraditya Scindia Not received communication from govt regarding considering relief of Rs 84,000 cr, says Vodafone Idea ETMarkets WhatsApp channel )
Indian Express
14-06-2025
- Politics
- Indian Express
Mamata to feature on TMC's July 21 rally posters
TMC has decided that the image of Chief Minister and party supremo Mamata Banerjee will feature on all official posters for the July 21 Martyrs' Day rally. The party's state leadership, during a meeting at the party's Bhabanipur office on Saturday said that they will design the poster for the July 21 rally and send it to every district committees. It, further, directed that the party should follow the poster design across the state. The poster which has already been published in social media only features Mamata Banerjee's face. Senior TMC MP Sudip Bandyopadhyay said, 'The poster for July 21 rally contains only Mamata Banerjee's photo. Abhishek Banerjee himself said his photo should not be there as he was not part of the original movement in 1993,' adding, '…The tradition will continue this year also. '
Time of India
14-06-2025
- Politics
- Time of India
TMC ignores Sudip ‘requirement' remark
Kolkata: Trinamool Kolkata North MP Sudip Bandyopadhyay on Saturday said that he would convene the party's north Kolkata core committee meeting "whenever (he felt) it was required". Reacting to this, TMC spokesperson Kunal Ghosh said, "I cannot speak on what has been said. The core committee members may speak on it." In May, TMC removed the MP from north Kolkata president's post and tasked decision-making to a nine-member core committee. Bandyopadhyay was made the party's north Kolkata chairperson. The core committee comprises Atin Ghosh, Jibon Saha, Nayana Bandyopadhyay, Paresh Paul, Shashi Panja, Supti Pandey, Swapan Samaddar, Swarna Kamal Saha and Vivek Gupta. Bandyopadhyay's reply was to a question as to when a meeting of the core committee would be called. In the run-up to the 2024 Lok Sabha polls, TMC's north Kolkata unit was troubled by dissent against Bandyopadhyay. It led to the defection of then-MLA Tapas Roy. While TMC was successful in handling the dissent and scripting Bandyopadhyay's record fourth win from the LS seat, the veteran neta's role — or the lack of it — raised eyebrows as the party battled against the protests following the RG Kar rape and murder. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
