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On Episode 569 of The Core Report, financial journalist Govindraj Ethiraj talks to Anindya Banerjee, Head of Research for Forex and interest rates at Kotak Securities as well as Pushan Sharma, Director-Research at Crisil Limited.SHOW NOTES(00:00) Stories of the Day(01:00) The markets rise on positive undertone but struggle against border tensions(03:24) The rupee swings wildly hits calendar high even as value of forex reserves jumps(10:22) Build on Blockchain(15:39) India Inc revenue up around 5% for over 400 companies studied by Crisil Intelligence, 1/3rd of companies do well(28:06) US braces for supply shocks as shop shelves could start running empty in weeks now(32:23) China announces more nuclear power generation capacityREGISTER for Accenture's Data and AI WeekListeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
On Episode 539 of The Core Report, financial journalist Govindraj Ethiraj talks to Garima Kapoor, Economist and Executive Vice President at Elara Securities (India) as well as Anindya Banerjee, Head of Research for Forex and Interest Rates at Kotak Securities.SHOW NOTES(00:00) Stories of the Day(01:08) The stockmarkets pull back their entire 2025 losses(04:43) The Rupee gains for ninth session, recovers 2025 losses(05:49) Understanding the dramatic turnaround in the Rupee, the best performing Asian currency this month(12:23) What is changing in the backdrop to the Indian economy that is changing the outlook as well?(21:15) Private capital expenditure's share in the overall investments in the economy dipped to a decadal low of 33 per cent in FY24(23:14) And the one area where the US may not impose tariffs - eggs, which are running outListeners! We await your feedback....The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirementsFor more of our coverage check out thecore.inJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
Margin trading facility (MTF) allows you to borrow funds from your broker to buy more shares than what your capital would allow. In today's episode of Why Not Mint Money, we are in conversation with Ashish Nanda, president and digital business head at Kotak Securities, to tell us more about it.
In today's episode of Market Minutes, Vaibhavi Ranjan breaks down the key market trends for March 3. After a sharp sell-off wiped out nearly Rs 8.8 lakh crore in market capitalization on Friday, Indian equities look poised for a mild recovery, with GIFT Nifty signaling a positive start. Will this rebound hold, or is more downside ahead? Meanwhile, auto stocks like Tata Motors, Maruti Suzuki, and M&M are in focus as investors react to monthly sales data, while IT stocks remain under pressure amid global slowdown fears. In the Voice of the Day segment, we're joined by Shrikant Chouhan of Kotak Securities who is here to share his views on whether the markets have hit a bottom. Stay tuned for expert insights, stock updates, and all the market buzz!
On Episode 474 of The Core Report, financial journalist Govindraj Ethiraj talks to Anindya Banerjee, Head Of Research for FX and Interest Rates at Kotak Securities as well as Dr Ishwar Gilada, infectious diseases expert and Secretary General at the People's Health Organisation-India. SHOW NOTES (00:00) Stories Of The Day (00:50) Markets fall sharply as sellers take charge. (03:28) Rupee hits another low, decoding India's foreign exchange strategy. (11:18) Indian meal prices are up but unusually more for non vegetarians. (15:03) The HMPV virus spooked the stockmarkets yesterday, an infectious disease expert view on what it really means. India Energy Week, Feb 11-14 Listeners! We await your feedback.... The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirements For more of our coverage check out thecore.in Join and Interact anonymously on our whatsapp channel Subscribe to our Newsletter Follow us on: Twitter | Instagram | Facebook | Linkedin | Youtube
Welcome to CNBC-TV18's Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of December 20 -The key question today is can bulls turn the tide now that the Nifty is facing its worst week in three months. On Thursday, the Nifty violated almost every near-term support from 24,100, 24,000, and at one point, even 23,900, although it managed to reclaim the latter towards the close of the session. -Going ahead, market participants are keeping an eye on the Bank of England policy meeting and Q3 US GDP numbers due later on Thursday. -This morning, the GIFT Nifty was trading with a discount of nearly 90 points from Nifty Futures' Thursday close, indicating a gap-down start for Indian market. -Om Mehra of SAMCO Securities says that after the steep correction, there might be mean reversion, and the Nifty may see a relief rally in the coming session and that the next support level remains at 23,600. Shrikant Chouhan of Kotak Securities believes the short-term market sentiment remains on the weak side; however, due to temporary oversold conditions, a quick pullback rally from the current levels could be seen. -Stocks to watch: IT stocks, Hyundai Motor India, IndiGo, AU Small Finance Bank, KPI Green, GE Vernova, BASF -Asian stocks declined as investors awaited the release of the Federal Reserve's preferred inflation gauge for fresh clues about its policy outlook. A key index of regional shares shed 0.2%, with losses in Australia and South Korea. Japan was an outlier after the yen weakened earlier. Hong Kong and mainland Chinese equities fluctuated in opening trade. US futures fell after both the S&P 500 and the Nasdaq 100 dropped. -The focus is now on US personal consumption expenditures for November due later Friday, the last major piece of data for the year, after the Fed's latest hawkish policy pivot. Data released Thursday, including faster-than-expected expansion for gross domestic product and stronger consumer spending, weakened the case for imminent rate cuts. -Elsewhere, the Republican-led House rejected a temporary funding plan backed by President-elect Donald Trump on Thursday with just over 24 hours to go before a US government shutdown. Tune in to the Marketbuzz Podcast for more cues
In this episode of Market Minutes, Neeshita Beura highlights the surge in real estate stocks as investors bet on strong housing demand for 2025. The podcast also unpacks the IT sector's decline following cautious brokerage calls, the metal index's slump on weak Chinese data, and smallcaps and midcaps bucking the trend with gains. Stocks like Rail Vikas Nigam, Varun Beverages, and Wipro will be in focus today due to fresh project wins, acquisitions, and strategic moves. In the Voice of the Day segment, Pankaj Kumar, VP of Fundamental Research at Kotak Securities, shares insights on real estate stocks and his preferred picks in the sector. Market Minutes is a morning podcast, putting the spotlight on trending stocks, crucial data points, and evolving market trends.
In this episode of Market Minutes, Neeshita Beura breaks down the factors influencing today's market opening as domestic indices look to recover from seven consecutive sessions of losses. From the Fed's cautious rate stance and its ripple effects on IT stocks to key developments in Britannia Industries and NTPC Green Energy's IPO debut, this episode covers it all. In the Voice of the Day segment, Sumit Pokharna, Vice President of Fundamental Research at Kotak Securities, shares his views on the Fed's policy outlook and its impact on Indian equities. Market Minutes is a morning podcast, putting the spotlight on trending stocks, crucial data points, and evolving market trends.
In this episode of Market Minutes, Nandita Khemka talks about the key factors to watch out for today. The Indian markets snapped a three-day losing streak with the Nifty rallying over 300 points to end near the key 24,300 level. Broad-based buying was seen across sectors ahead of the RBI monetary policy outcome. The central bank will announce its bi-monthly interest rate decision today. Economists expect RBI to hold rates and maintain stance at withdrawal of accommodation. Meanwhile, there is renewed weakness in the global markets with Wall Street ending with cuts of over a percent. Asian markets too are on the backfoot and the GIFT Nifty is down nearly 200 points. Can India markets show resilience? Among stocks to watch, Hindalco, Eicher Motors, Godrej Consumer, Protean eGov Tech will be in focus. Meanwhile, infrastructure construction company Ceigall India is slated to list on the bourses today. Also catch Shrikant Chouhan of Kotak Securities in the Voice of the Day segment. Market M
Welcome to CNBC-TV18's Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of July 29 -The big question today is whether or not the Nifty will surpass 25,000 after almost every index heavyweight, be it Reliance Industries, Infosys, TCS, ITC put their hand up on Friday to take the Nifty to a new record high of 24,861. -While IT and Reliance have been contributors through and through, what further aided Friday's move was a recovery in banks. The Nifty Bank index recovered nearly 900 points from the lows of the day and barring HDFC Bank, most of the index constituents contributed to the rally on the upside. Infosys, trading at the highest level in two years, is also nearing a record high. -The banking sector will again be in focus today as a slew of earnings reactions will be seen during the trading session. -Stocks to watch: IndusInd Bank, Bandhan bank, Power Grid, KEC International, Kaynes Tech, ICICI Bank, PNB, IDFC First Bank, Anant Raj, MCX, Dr Reddy's Laboratories, Genus Power, UltraTech and India Cements -Earnings: ACC, BEL, Adani Total Gas, CSB Bank, Data Patterns, HPCL, Kansai Nerolac, Strides Pharma -Both foreign and domestic institutions were net buyers in the cash market on Friday. The numbers may also be skewed due to the block deal that took place in Sobha on Friday morning. -Kotak Securities' Amol Athawale expects 25,000 to be a key hurdle for the bulls but crossing that can take the Nifty to 25,150 levels. 24,675 - 24,600 on the downside now becomes an important support, below which, the sentiment could change. -In terms of global cues, Asian shares snapped three days of losses to rise on Monday morning, before a week of key central bank decisions in Japan, the US and the UK, as well as some big tech earnings releases. -The Fed is likely to signal its plans to cut in September at the conclusion of its meeting on Wednesday, according to economists surveyed by Bloomberg News, a move they say will kick off reductions each quarter through 2025. -Oil rose ahead of a key OPEC+ meeting this week, with analysts divided over whether the group will proceed with plans to boost supplies next quarter. -OLA Electric Mobility is set to launch its Rs 5,500 cr IPO on August 2 -Manu Bhaker has won bronze in air-pistol, bagging India's first medal at Paris Olympics -Gift Nifty was trading 0.3% higher from friday's close this morning, indicating a start in the green for the Indian market Tune in to the Marketbuzz Podcast for more cues
On Episode 321 of The Core Report, financial journalist Govindraj Ethiraj talks to Anindya Banerjee, Head of Research for FX and Interest Rates at Kotak Securities as well as Kapil Kaul, CEO of CAPA India.SHOW NOTES(00:00) The Take: Indians(04:00) Stories Of The Day(04:41) Markets gain steam again(06:46) Rupee hits an all time low, why that is happening despite inflows(12:14) Risk at acceptable levels, says RBI Gov(15:19) Why India's aviation sector will remain one of the hottest in the worldListeners! We await your feedback....For more of our coverage check out thecore.in--Support the Core Report--Join and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
On today's episode, financial journalist Govindraj Ethiraj talks to Anindya Banerjee, Head of Research for Forex and Interest Rates at Kotak Securities.SHOW NOTES(00:00) Stories Of The Day(01:09) Low Liquidity Hits Major Markets In Holiday Shortened Week(08:04) India Forced To Switch To US Crude Oil As Sanctions On Russia Tighten(09:44) What Goes Down Must Go Up To, The China Factor At Work(12:34) Why Indian Banks' Cost Of Capital Will Go Up(15:06) Mumbai Is Fastest Growing Billionaire Capital In The World(17:08) Adani Group Acquires Yet Another Port, This Time In Orissa(17:55) Can India Choose Between Subsidies For Manufacturing Semiconductors And Spending On Higher Education?(19:54) Why Chocolate Prices Will Rise, Global Coca Prices Hit New RecordsFor more of our coverage check out thecore.in--Support the Core Report--Join and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
On today's episode, financial journalist Govindraj Ethiraj talks to Anindya Banerjee Head of Research for Forex at Kotak Securities. SHOW NOTES(00:00) Stories Of The Day(03:38) ADB raises India growth projection to 6.7%(04:35) COP28 concludes with a first ever agreement to phase out fossil fuels.(06:20) All positive pressures notwithstanding, the rupee is still weak (12:18) Tesla to recall 2 million cars on autopilot failures(14:14) Netflix's Night Agent most watched title on netflix globallyFor more of our coverage check out thecore.in--Support the Core Report--Head to www.indiaenergyweek.comJoin and Interact anonymously on our whatsapp channelSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
Welcome to ELI, where we bring you inspiring stories of successful entrepreneurs making a difference in their industries. In this episode, we have the privilege of sitting down with Ashish Kukreja, the visionary founder of Homesfy - India's pioneering real estate advisory and brokerage platform. Join us as Ashish takes us on a journey through his pre-entrepreneurial life, growing up in the small town of Karnal, Haryana, and his educational pursuits in commerce and finance in Hyderabad. Discover the valuable experiences he gained while working with renowned companies like Kotak Securities and Unicorn Investment Solutions before embarking on his own entrepreneurial venture. Homesfy, under Ashish's leadership, has been revolutionizing the real estate sector in India by offering a technology-driven, end-to-end customer experience. Unlike traditional brokers, Homesfy is dedicated to providing top-notch service, empowering both buyers and sellers with reliable information and transparent processes. Learn how Ashish and his team are filling the void in the market, where trusted real estate brands with excellent customer service are scarce. Moreover, Ashish is not just focused on his own business; he believes in sharing knowledge and empowering others in the industry. Discover his brainchild, MyMagnet, a tech-based platform that collaborates with small brokers to support their growth and enhance their services through cutting-edge digital tools and strategic investments. Don't miss this insightful conversation with a true entrepreneur who is shaping the future of real estate in India. Join us in learning from Ashish's journey, the challenges he faced, and the vision he has for the future of Homesfy and MyMagnet. If you're passionate about entrepreneurship, real estate, or seeking inspiration to drive positive change in your industry, this interview is a must-watch! #EntrepreneurSpotlight #Homesfy #RealEstateEntrepreneur #MyMagnet #Entrepreneurship #Inspiration #BusinessSuccess #RealEstateIndia #TechInnovation #StartupStories
On today's episode, financial journalist Govindraj Ethiraj talks to Anindya Banerjee, Head of Research for Forex and Interest Rates for Kotak Securities as well as Girish Vanvari of Transaction Square, a tax regulatory and business advisory firm. SHOW NOTES[00:00] Stories Of The Day[00:50] What Jamie Dimon Said But Did Not Make Headlines[03:58] The dollar is at its strongest in 2023 and the Rupee is fighting back.[08:46] Massive GST notices are being thrown at gambling/gaming companies. Is the law on course?[19:32] New disclosure guidelines for unicorns are likelyFor more of our coverage check out thecore.inInteract with us or ask us questions on TelegramSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
In this episode of Market Minutes, Sucheta Anchaliya talks about all the important factors to watch today, from Gift Nifty setting record turnover, Natco Pharma, Aeroflex Industries listing to global market setup. Also catch Ravindra Rao of Kotak Securities in Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, keys data points and developing trends.
In this episode of Market Minutes, Shailaja Mohapatra talks about LTIMindtree results, Sheela Foam's Kurlon acquisition and the global market setup. Also, catch Shrikant Chouhan of Kotak Securities in Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, keys data points and developing trends.
On today's episode, financial journalist Govindraj Ethiraj talks to M B Mahesh, Director at Kotak Securities.SHOW NOTES[00:51] Three of HDFC's Top Brass Are Gone. What Will HDFC Bank's New Culture Be Like?[08:46] India's bank deposit profile shifts as people put money for shorter periods. An Analysis with M B Mahesh [20:47] Do You Have An India Strategy, the latest Bullish Report, From Academics This Time[26:14] Apple Hits $3 TrillionFor more of our coverage check out thecore.inSubscribe to our NewsletterFollow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
Worldwide IT spending is projected to touch $4.6 trillion in 2023, increasing by 5.5 percent over 2022, according to the latest forecast by Gartner, widely seen as the top IT market forecaster advising enterprise CIOs. While the devices segment is expected to contract the most among the various categories, the IT services segment is now expected to grow faster. Gartner forecasts IT services spending in 2023 to increase by 9.1 percent, compared with its January forecast of 5.5 percent. Capital markets analysts in India are hoping for “front-ended” guidance from Infosys. Notes: Worldwide IT spending is projected to total $4.6 trillion in 2023, an increase of 5.5 percent from 2022, according to the latest forecast by Gartner, widely seen as the top IT market researcher advising enterprise CIOs on their tech spending. Despite continued global economic turbulence, all regions worldwide are projected to have positive IT spending growth in 2023, Gartner said in a press release on April 6. The latest forecast is more than double the 2.4 percent estimate from January, and also higher than the 5.1 percent projection Gartner had made six months ago. The IT services segment is now expected to grow even faster. Gartner forecasts IT services spending in 2023 to increase by 9.1 percent over 2022, compared with its January forecast of 5.5 percent and its October 2022 estimate of 7.9 percent growth. This is good news for India's IT services companies ahead of their fiscal fourth quarter and full-year results expected later this week. “Macroeconomic headwinds are not slowing digital transformation,” said John-David Lovelock, Distinguished VP Analyst at Gartner. “IT spending will remain strong, even as many countries are projected to have near-flat gross domestic product (GDP) growth and high inflation in 2023.” Prioritization will be critical as CIOs look to optimize spend while using digital technology to transform their businesses' value proposition, revenue and client interactions, the analyst notes. The IT services segment will continue its growth trajectory through 2024, largely driven by the infrastructure-as-a-service market, which is projected to reach over 30 percent growth this year. For the first time, price is a key driver of increased spend for cloud services segments, rather than just increased usage, according to Gartner. India's top two IT services companies are expected to report their earnings this week. Tata Consultancy Services will report its Q4 and FY23 results on April 12. Infosys will report its results on April 13. For the fourth quarter, which is the January to March 2023 period, TCS will likely lead its peers, analysts at Kotak Securities write in their latest IT preview report, dated March 31. The analysts expect TCS to report fiscal Q4 revenue growth of 1.1 percent versus the previous quarter, and an 11.2 percent increase over the same period a year earlier, in constant currency terms, which eliminates the impact of currency exchange rate fluctuations.
Infosys yesterday raised its revenue outlook for FY23 citing strong growth momentum from the first nine of the fiscal year and a record order book, even as a recession looms large in its biggest markets. The company's numbers beat street expectations and CEO Salil Parekh said its strong capabilities in cloud technologies and automation had helped Infosys win the highest number of large contracts in a quarter in the company's history. He also flagged signs of an economic slowdown and delays in decision-making among clients in investment banking, telecom, hi-tech and retail. Notes: Infosys yesterday raised its revenue outlook citing strong growth momentum from the first nine months of the current fiscal year and a record order book, even as a recession looms large in its biggest markets. The company beat analysts' expectations for its fiscal third-quarter revenues and profit. Revenue for the three months ended December 31, rose 2.4 percent from the previous quarter in constant-currency terms, which eliminates the effect of currency rate variations. Sales rose 13.7 percent to $4.66 billion for the December quarter versus $4.25 billion for the same quarter a year ago, Infosys said in a statement. In comparison, analysts at Kotak Securities, for example, were expecting Infosys to turn in sequential growth of 1.1 percent and a year-on-year increase of 11.6 percent in constant currency terms. “This is a seasonally weak quarter for us and amid a changing global economy,” CEO Salil Parekh told reporters in a conference in Bengaluru on Jan. 12. “We continue to take market share. We continue to benefit from consolidation.” Growth was broad-based with most industries and geographies growing in double digits in constant currency terms, Parekh added. The company reported its large-deals order book at $3.3 billion, the highest in eight quarters, with 32 large deals. “This is the largest number of large deals in a quarter in our history,” CEO Parekh said. More than a third of the large deals won were “net new,” at 36 percent, he said. “Driven by the growth of 17.8 percent in constant currency for the first nine months of FY23 and the strong large deal value for Q3,” the company is increasing its revenue growth guidance from the October range of 15-16 percent to 16-16.5 percent for the full financial year. “This is despite the changing global conditions,” Parekh said. The company is retaining its operating margin guidance for FY 23 at 21-22 percent. For Q3, Infosys reported operating margins at 21.5, which was within the range CFO Nilanjan Roy had projected in October, but slightly below street expectations. He reiterated his expectation that Infosys will end the year with margins closer to the lower end of its estimate. Staff churn, an important metric in the services business, came down strongly during the quarter. Voluntary quarterly annualized attrition continues to decline. It was reduced by six percentage points sequentially to well below 20 percent for this quarter, CEO Parekh said. CEO Salil Parekh also pointed out that the coming quarters will be tough. “While we are encouraged by the immense confidence and trust our clients have in us, the signs around are showing a slowing global economy,” he said. Some areas, such as mortgages and investment banking in the financial services industry, telecom, hi-tech and retail are more impacted and that is leading to delays in decision-making and uncertainty in spending in these areas, he said.
HCL Technologies, yesterday, beat fiscal second-quarter revenue expectations and increased its guidance for the full fiscal year, signalling demand remains strong for its services in cloud, engineering, and digital technologies amid a global economic slowdown. At Wipro, Q2 revenues matched street expectations, but profits for the September quarter fell nearly 10 percent versus the same period a year ago. Notes: HCL Technologies, yesterday, beat revenue expectations and increased its guidance for the fiscal year, signalling demand remains strong for its services in cloud, engineering, and digital technologies amid a global economic slowdown. The company's shares were higher by more than 2 percent in early Mumbai trading. Shares at Wipro, however, fell as much as 5.4 percent after the company reported a 10 percent decline in profits. HCL Tech's revenue for its fiscal second quarter rose 3.8 percent in constant currency terms, versus the first quarter and 15.8 percent from the year-earlier period. Revenues rose 1.9 percent in reported terms to $3,082 million from $3,025 million, India's third-biggest IT services company said in an investor release. Analysts at Kotak Securities, for example, were expecting HCL Tech to report a 2.9 percent increase in revenues in constant currency, on a sequential basis. “Our bookings and pipeline continue to be very strong,” chief executive C Vijayakumar said. The company added $2.4 billion in new contracts in Q2, a six percent increase over the previous quarter and 16 percent from a year earlier. Revenues for the full fiscal year that ends March 31, 2023, are now expected to be in the range of 13.5 percent to 14.5 percent, HCL Tech said, surprising analysts who were expecting it to retain its July projection of a 12-14 percent increase over FY22. At fourth-ranked Wipro, revenues were in line with analyst expectations, increasing 4.1 percent quarter on quarter to $2.8 billion for Q2 and 12.9 percent from a year earlier, in constant currency. India's top IT companies continue to be highly profitable, but margins are under pressure across the sector due to attrition rates that are twice as high as last year. HCL Tech reported operating margins of 18 percent for Q2, compared with 19 percent a year earlier, but higher than the previous quarter's 17 percent. Profits, for the Noida headquartered company, for the three months ended Sep. 30 rose to 7 percent to Rs. 34.89 billion from the year-earlier period. At Wipro, the Q2 operating margin was 15.1 percent versus 17.8 percent a year earlier. And profits fell nearly 10 percent to Rs. 26.5 billion rupees for Q2 from Rs. 29.3 billion a year earlier. Attrition, or staff churn, remains high at both companies, at 23.8 percent at HCL Tech and 23 percent at Wipro, on a 12-months basis, reflecting the trend in the industry. Top-ranked TCS, on Monday, reported attrition of 21.5 percent. Infosys, India's second-biggest IT company reports its earnings after markets today. Apple and Samsung Electronics are among the companies that will upgrade software for their 5G-enabled smartphones in India by December, Reuters reports. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds
Tata Consultancy Services reported quarterly earnings yesterday that show India's biggest IT services company is still seeing strong demand for its services with an order book of more than $8 billion garnered during its fiscal second quarter. The rate of growth, however, seems to have moderated, with the more than 600,000-strong company growing at less than half the pace at which it grew last year from one quarter to the next. Shares were little changed in early Mumbai trading. Notes: Tata Consultancy Services reported quarterly earnings yesterday that show India's biggest IT services company is still seeing strong demand for its services with an order book of more than $8 billion garnered during its fiscal second quarter. The rate of growth, however, seems to have moderated, with the more than 600,000-strong company growing at less than half the pace at which it grew last year, from one quarter to the next. Shares were little changed in early Mumbai trading. TCS reported its fiscal second quarter revenues rose to $6.877 billion for the three months ended Sep. 30, which is a 1.43 percent increase over the April-June period, missing estimates at some top brokerages in Mumbai. Analysts at ICICI Securities were expecting a 1.5 percent increase for TCS, while those at Kotak Securities had projected a 2.5-3.5 percent sequential increase for India's top IT companies. In Q1, TCS had sequential growth of 1.25 percent, the lowest in at least six quarters. In comparison, the Mumbai headquartered crown jewel of the Tata Group grew revenues at an average quarter-on-quarter rate of 2.8 percent in the fiscal year that ended March 31, 2022. Demand for cloud services which had shot up last year, following the Covid pandemic, could now be growing at a slightly slower rate as businesses around the world are returning pre-Covid ways of work, including asking employees to get back to the office. Clients are “preparing for a more challenging environment ahead,” TCS CEO and MD Rajesh Gopinathan said in a press release yesterday. Demand remains “very strong,” he said. Revenues for Q2 rose 15.4 percent in constant currency from the same period a year earlier. Profits for the quarter were at $1.3 billion, which was the same as for the year-ago period. Operating margins narrowed by 160 basis points to 24 percent from Q2 of FY22. During the quarter, TCS booked orders worth more than $8 billion, which is the same as the value of contracts won in Q2 last year. Some of the contracts it won came from customers such as Sainsbury's, Catalent, PostNord, Bane Nor, Northern Powergrid, Prorail, Tap Air Portugal, and Boots. The company added close to 10,000 recruits to end the September quarter with 616,171 employees. In comparison, the company added close to 20,000 recruits during the same quarter last year. Attrition, or staff churn, was at 21.5 percent at the end of Q2 on a 12-months basis, compared with 11.9 percent a year earlier. “Attrition has peaked in Q2, and we should see it taper down from this point, while compensation expectations of experienced professionals moderate,” Milind Lakkad, TCS's chief human resources officer, said in the press release. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds
Why do we need natural gas? Natural gas is used to generate electricity and make fertilisers. It is also converted into CNG which is used to run automobiles. It is converted to LNG and is imported by countries to meet their energy requirements. So natural gas is as essential as oil. Why is it in short supply? Russia was the largest exporter of natural gas in 2021. But its invasion of Ukraine changed the equations, and plunged Europe into an energy crisis. And the effect of Europe's energy crisis is slowly being felt in India too. It is threatening to derail its gas economy. Russia used to supply 40% of Europe's gas requirement before the Ukraine invasion, but it came down to 9%. Gas supplies to Germany were also hit as Russia cited Nord Stream 1 maintenance. The pipe, which runs under the Baltic Sea, is Germany's gas supply backbone and accounts for over one-third of Europe's gas supplies. This means that Europe is looking to get gas from other sources, which leaves very little for Asia. For instance, Russian gas producer Gazprom's supply to India has been dwindling since the start of the war. Europe is now expecting 90% more LNG on the spot market than they have secured under long-term contracts. Compared with last winter, European LNG imports are expected to be up 16%. So the spot LNG prices have soared and hit price-sensitive emerging markets badly. European gas futures are more than four times the price a year ago, according to ICE data. Europe's TTF gas futures benchmark, a gas trading platform in the Netherlands, went as high as €346.5 per megawatt hour (Mwh) on August 26, jumping over 23 times from Covid-affected October 2020. According to reports, India is now looking for alternatives and has reached out to Iraq, Saudi Arabia, UAE, and the US to secure liquified natural gas (LNG) at affordable prices. Although the price declined towards the later end of September, it was still 27 times more than what Indian importers paid for spot supplies of the fuel in late 2020. In India, spot LNG prices were around Rs 742 per million British thermal units at August end, 135% higher than a year ago and 285% higher than two years ago. According to analysts, strong demand for LNG will make it difficult for India to compete in the global natural gas market. Matthew Carr, head of CarrZee, a London-based clean energy intelligence provider, said that crazy high prices will slow the developing world's attempt to improve access to energy and electricity. Research analyst Sumit Pokharna tells more Sumit Pokharna, Research Analyst and Vice-President, Kotak Securities says 50% of India's gas requirements is met from imports. Situation may get grave in the coming winter. Double whammy is that rupee has also depreciated. High gas prices have dent India's imports as Europe is sourcing most supplies by paying record prices ahead of the winter. In April-August period, India's LNG imports fell 10 per cent. Domestic natural gas production rose to 34 billion cubic meters in FY22, from 28.3 billion cubic metres in FY21. Gas consumption too fell by 10 per cent in August from a year earlier. In the first quarter of current fiscal, gas consumption fell 2.5 per cent. India's gas consumption is largely accounted by fertilisers, city gas distribution, power and other sectors. Meanwhile, in India, local gas prices, which are revised twice every year, are linked to global benchmarks. So, higher global benchmark prices mean that domestic prices would also rise. In line with that, the price of natural gas has been raised by 40% to a record high last Saturday. The record high local natural gas prices are likely to make CNG and PNG cost more. PNG prices have already risen 70 per cent in the last one year. According to a report in the leading financial daily, Indian automakers have cut their production target for CNG-powered vehicles by 25 to 30 per cent. City gas distribution companies are deliberati
Is it the beginning of the end of diesel cars in India? Indian roads were once dominated by four-wheelers propelled by diesel engines. And for long they have been the preferred choice of Indian consumers. However, with a push for electric vehicles and stricter emission norms, the outlook is looking bleak for diesel-powered cars. As the new BS-VI emission norms kicked in 2020, many carmakers trimmed diesel engine vehicles from their portfolio. India's biggest carmaker Maruti has completely discontinued diesel models. Tata Motors has discontinued smaller-capacity diesel engines. Honda India recently said it would most likely discontinue its diesel-engine cars. At present, Honda offers diesel variants of City, Amaze and its Jazz Premium Hatchback. Other carmakers like Volkswagen, Skoda, Nissan and Renault have also reduced diesel portfolios. Compared with petrol vehicles, carmakers have faced many problems with upgradation to new emission standards and the costs shot up. Come March 2023, a new phase of emission norms will kick-in and this is further making carmakers vary of diesel engine cars. Maruti had earlier said that the second phase of emission norms will further raise costs and impact sales. Under the second phase of BS-VI norms, vehicles must meet emission norms in the real world, as opposed to a laboratory. The focus will be on increasing fuel efficiency and, in turn, reducing emissions as well. Diesel engine vehicles commanded a market share of over 50% in the passenger vehicle segment in 2012-13, but it has reduced drastically over the years. It has come down to 18% in FY22, according to data from Federation of Automobile Dealers Associations. The drop has been sharp particularly since the BS-VI emission norms were introduced in 2020. The market share in the PV segment almost halved from 33% in 2019. However, the rise in sport utility vehicles (SUVs) is giving a lease of life to diesel variant engines. GFX in – please show the rise of SUVs - Graph 2 in excel sheet attached According to industry estimates, the share of SUVs in overall passenger vehicles has risen from just 18% in 2016 to 40% in FY22. According to analysts and automakers, consumers prefer diesel engines in SUVs as due to their relatively higher pulling power at low engine speeds, making it an easier and quicker take off from the go. According to reports, the sales share of diesel-engine variants is 35-40 per cent in compact SUVs, 55-60 per cent in the midsize SUV segment, and even higher in the large SUV segment. But, the overall picture is not good for diesel variant engines. Apart from the stricter emission norms, the surge in electric vehicles sales has also spelled doom for diesel engine cars. NITI Aayog has set a target of EV sales penetration at 70% for all commercial cars, 30% for private cars, 40% for buses and 80% for two and three-wheelers by 2030. The narrowing down of petrol and diesel prices over the last few years has further reduced diesel cars appeal as the government reduced subsidies on the diesel. So is it the beginning of the end of diesel in India? Arun Agarwal, Deputy Vice-President - Fundamental Research, Kotak Securities says entry-level PV segment is dominated by petrol vehicles, but diesel still has presence in compact and mid-size segment. In the last two-three years, the demand for diesel was range bound and more or less stabilised. In the interim, diesel engines will continue in some segments, and eventually, there will be a shift towards cleaner fuel. Some automakers still see a future for diesel engines. Diesel is still a major component of automakers like Mahindra, Toyota, Jeep and KIA due to their SUV/MUV/Crossover product portfolio. A Toyota official even went on to say that diesel demand is stronger than ever in India. Mahindra too echoed the same sentiment recently. Hyundai is still seeing a strong demand for diesel SUVs. The share of diesel variants in the overall sales mix at Hyundai
For the first time since early February, international crude benchmark Brent went below $90 a barrel last week. This level was last seen prior to Russia's invasion of Ukraine. The recent decline came amid expectations of weaker global demand and US dollar strength. Indian refiners have also been securing discounted supplies from Russia as sanctions prompted many oil importers to stop trade with Moscow. Russia rose to become India's second biggest supplier of oil. India too became Russia's second major oil buyer after China, although India's monthly oil imports from Russia have been declining after hitting a record in June. Only in August did Saudi Arabia overtake Russia by a thin margin to once again become the second-biggest oil supplier to India, after a three-month gap. Between April to August, Russian oil accounted for about 16% of India's overall imports, compared with just a 0.5% share a year ago. Yet, Indian refiners are not passing on the cost savings derived from purchasing discounted Russian crude oil to the end-users of diesel and petrol. Petrol currently costs Rs 96.72 a litre and diesel Rs 89.62 in the national capital. If one excludes the impact of excise duty cuts in May, prices of petrol and diesel have been unchanged at fuel station since April 6, for a record 166 days. Early this month, Minister for Petroleum and Natural Gas Hardeep Singh Puri had linked no revision of fuel prices to the losses that state-owned fuel retailers incurred in keeping the fuel prices unchanged when international oil prices surged to multi-year highs. “Have we recouped all our losses?” Puri went on to ask. The three retailers posted a combined net loss of Rs 18,480 crore in June quarter. At one point, oil marketing companies were losing Rs 20-25 per litre on diesel and Rs 14-18 a litre on petrol as international oil prices soared. These losses have been trimmed with the fall in oil prices. Sumit Pokharna, Research Analyst (IT and Oil & Gas) - Vice-President, Kotak Securities says, govt kept prices low to tame inflation when crude was high. Despite high gross refining margin, OMCs incurred losses. Benefit of falling crude offset by negative refining margin After Monday's fall in crude oil prices, Pokharna says, OMCs are still incurring a loss of Rs 8 per litre on diesel though this is down from Rs 15 in Q1 and Rs 13 in the ongoing Q2 up until last week. For petrol, the marketing margin turned positive yesterday to Rs 6.5 per litre. This compares to a negative Rs 11 in Q1 and a negative Rs 3 per litre until last week. Oil Minister Puri had indicated international oil prices need to stay at $88 per barrel or below to bring some relief. Although there is no under-recovery on petrol now, for diesel it may take longer. As a prudent measure, OMCs will be allowed to recover the past losses before the benefit of any further fall in crude price can be passed on to the consumers.
Oil prices have slipped below 100 dollars a barrel in the past couple of days. Weighing on crude price is the US Energy Information Administration's weekly inventory report, which suggested an unexpected increase in US crude oil stocks and drop in gasoline demand, despite ongoing summer driving season in the US. While global central banks, especially the US Federal Reserve, has hiked rates to tame inflation and kill demand, OPEC+ has decided to raise its oil output goal by 100,000 barrels per day starting September. The increase is equivalent to 0.1 per cent of global demand. It follows weeks of speculation that Biden's trip to the Middle East and Washington's clearance of missile defence system sales to Riyadh and the United Arab Emirates will bring more oil to the world market. Notably, the increase of 100,000 bpd will be one of the smallest since OPEC quotas were introduced in 1982. Ravindra Rao of Kotak Securities, for instance, expects prices to slip further in the immediate short-term. “Crude has hit fresh lows which indicates weaker sentiment. However, supply concerns may keep a floor to price close to $90/bbl level,” says Ravindra Rao, VP & Head of Commodity Research, Kotak Securities Brent prices have been volatile thus far in 2022, as the oil market reacted to the geopolitical developments amid recession fears. Paul Hickin, Director of S&P Global Commodity Insights expects the Brent oil to climb and remain in a range of 100 - 120 dollars a barrel in the medium-term. Speaking to Business Standard, Hickin said, OPEC+ decision is a symbolic nod to the US. Spare capacity is at historic lows. Weak demand amid recession fears in the US and Europe. Russian supply has not come off as expected. Oil likely to stay over $100/barrel. On Friday, all eyes will be on the outcome of the Reserve Bank of India's meeting on interest rates. Analysts expect the Indian central bank to hike repo rate between 35 - 50 basis points. That apart, stock specific action will continue amid the ongoing result season.
In this era, the important necessity for everyone is money. But do you know about financial management? Financial Management is the process of planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It basically means to apply general management principles to financial resources of the enterprise. Imagine how your life would turn out to be if you don't know how to manage finances. You would be short of money. You would feel unsatisfied. You will have to compromise on many things that could have made you happier, right? You would have wished for a hand to help in managing your financial goals. One such help is from the Yudhajit Financial Service which helps in achieving financial goals. They have already helped more than 1000 families globally to achieve their financial goals. Time Stamp based show notes for insights on Managing personal Finances: 00:00:00 Introduction 00:03:31 Career Journey. 00:06:00 Top 3 things that helped as an entrepreneur. 00:10:17 The beginning of managing personal finance. 00:11:48 Few options which people overlook for saving tax from the Indian Tax perspective. 00:15:51 Common mistakes students make in the early career stage. 00:19:22 Advice for students on financial planning. 00:22:32 Resources to learn more on financial planning. 00:25:13 Rapid Fire round. 00:31:35 One Piece of advice for those aspiring to GROW in their career. About the speaker (Yudhajit): After working close to a decade in multinational banks like Barclays, Standard Chartered, HSBC and broking houses like Kotak Securities, Yudhajit founded Yudhajit financial services (YFS) in 2012 to provide comprehensive financial advisory services to individual and institutional clients. Under his leadership YFS has fostered relationships with clients globally and in all major cities in our country. They have already helped more than 1000 families globally to achieve their financial goals. A proponent of financial literacy Yudhajit has conducted more than 1000 hours of workshops and seminars on financial literacy and investor awareness. Yudhajit's articles have also featured in Economic times (https://bit.ly/3kyr0rm) a popular business newspaper in India Connect with the guest on LinkedIn: https://www.linkedin.com/in/yudhajitbaul/ Connect with the hosts on LinkedIn: Naveen Samala: https://www.linkedin.com/mwlite/in/na... Sudhakar Nagandla: https://www.linkedin.com/in/nvsudhakar Twitter: @naveensamala @s_nagandla @guidingvoice Don't forget to mail your suggestions and feedback. Email: theguidingvoice4u@gmail.com WhatsApp: +91 9494 587 187 Follow our social media for upcoming events and episodes. #FinanceManagement #PersonalFinance #Accounting #FinancialFreedom #financebasics #FinancialEducation #FinancialIndependence #Tax #FinanceTips #FinanceManagement, #savings plan in India, #save money, #Personal Finance, #earn money smartly, #Financial Freedom, #Smart Money, #side income, #finance basics, #Financial Education, #Financial Independence, #Tax, #tax savings, #Finance Tips
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The Desi VC: Indian Venture Capital | Angel Investors | Startups | VC
Shashank Khade is the Equity specialist of Entrust with over 20 years of cumulative professional experience in listed and unlisted equity investment management. Till September 2013, Shashank was the Senior Vice-President and Head of Portfolio Management Services division of Kotak Mutual Fund. His stint with Kotak entities including Kotak Securities and Kotak Asset Management Company was over 11 years. He headed the Portfolio Management services business since 2006 and was managing over INR 2000 Cr across various portfolio management schemes. He was part of the team conceptualizing some of the best performing PMS schemes like the Fortune Series while at Kotak. Prior to Kotak Securities, Shashank Khade worked with Infrastructure Leasing & Financial Services Limited's private equity arm IL&FS Investment Managers Ltd (then IL&FS Venture Corporation) for 5 years. Shashank's passion in equity as an asset class is known by his in-depth knowledge of Indian companies across sectors and market caps. Given his past experience, he is equipped to understand and evaluate both un-listed and listed equity opportunities. Shashank Khade has a Bachelors' degree in Mechanical Engineering (B.E. Mechanical) from Sardar Patel College, Mumbai and a Masters in Management Studies (Finance) from Jamnalal Bajaj Institute of Management Studies (JBIMS).In this episode, we will cover:1. Looking back at the year that was 2021 (4:32)2. In spite of the economic slow down, the Indian tech industry and stock market has performed beyond expectations. What does Shashank think about the current market dynamics and its appetite? (9:54)3. Thoughts on rising valuation in India today and how do we justify it from an LP point of view? (18:18)4. How do we sustain the growth in the ecosystem from a funding pov? (28:52)5. How do family offices asses risk with respect to venture capital? (36:32)6. What type of funds should first time family offices be evaluating and how do you do so? (44:57)7 . Vintage funds or emerging small-sized funds –– Where does the interest lie when it comes to family offices investments? (50:52)?8. How do family offices evaluate funds? (55:38)9. Advice to fund managers building their funds (1:08:43)
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Tune in to the 9th episode of Emkay Alpha Mavens with none other than Mr. Jaideep Hansraj, the MD & CEO of Kotak Securities, as he dives into the very interesting subject of 'Vision & Strategic intents of Wealth Management firms in the $5 trillion economy'. To register for the upcoming episodes of Emkay Alpha Mavens, log in to https://www.pmsaifworld.com/emkay-alpha-mavens/
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Investors booked profit at the bourses for the third consecutive day as lack of fresh triggers left participants directionless about the markets. While the indices did start higher on Wednesday, last-hour sell-off in all but IT space pushed the markets in the red. The frontline S&P BSE Sensex cooled off 393 points from day's high to end at 52,483 levels, down 67 points or 0.13 per cent. The Nifty50 also eased 27 points, or 0.17 per cent, to settle at 15,721 level. Index heavyweights Reliance Industries, Infosys, Maruti Suzuki, TCS, and Nestle India gained between 0.6 per cent and 1.2 per cent to support the indices even as losses in ICICI Bank, HDFC, HUL, HDFC Bank, Bajaj Finserv, Tata Steel, and Tech Mahindra capped gains. Trend in the broader markets was mixed. The BSE MidCap index slipped 0.03 per cent while the BSE SmallCap index ended 0.56 per cent up. Individually, shares of Cipla hit a record high of Rs 997.20 as they rose nearly 2 per cent on the BSE in intra-day trade after Drugs Controller General of India (DCGI) permitted the firm to import Moderna's Covid Vaccine with emergency use authorisation in India. In the past two days, the scrip has gained 4 per cent. That apart, Uflex shares also hit a fresh lifetime high after they zoomed 20 per cent to Rs 573 on the BSE in intra-day trade on the back of a robust March quarter (Q4FY21) result. India's largest multinational flexible packaging company and a global player in polymer sciences posted a 163 per cent year on year (YoY) jump in its consolidated net profit at Rs 264.7 crore supported by healthy operational performance. On the downside, shares of listed airline players InterGlobe Aviation and SpiceJet slipped 0.3 per cent and 1.5 per cent, respectively after the government extended ban on international passenger flights till July 31, 2021. Sectorally, the Nifty IT index ended 0.6 per cent higher with Happiest Minds, Coforge, Mphasis, Infosys, Tech M, and Wipro rallying up to 7.5 per cent. Analysts at Kotak Securities expect robust revenue growth of 3-4.5 per cent sequentially for Tier-1 companies except HCL Tech. As regards Midcaps, the brokerage expects growth rates ranging from 3.5-7 per cent QoQ. Revenue growth, it says, is expected to climb between 9-19 per cent on a YoY basis courtesy of strong recovery and low base of June 2020. All other indices settled lower with the Nifty Media index down 0.8 per cent and the Nifty Bank index down 0.7 per cent. According to a report by S&P, Indian banks face systemic risks as the country wades through the aftermath of the Covid-19 second wave. The banking sector's weak loans are likely to remain elevated at 11-12 per cent of gross loans in the next 12-18 months. The second wave, it says, will impair the performance of Indian financial institutions in the first half of fiscal 2022, with much resting on the effectiveness of government measures to address this problem. Global markets US stock futures indicated a flat-to-negative start on Wall Street later in the day. Dow Jones Futures were down 50 points, or 0.16 per cent, at 4:30 PM while S&P 500 Futures and Nasdaq Composite Futures slipped 0.1 per cent each. In Europe as well, shares fell on Wednesday as worries about rising inflation and the Delta variant of the novel coronavirus hit economically sensitive sectors. The pan-European Stoxx 600 fell 0.9 per cent by mid-morning, with autos tumbling 2.4 per cent. In Asia, shares ended mixed. Japan's Nikkei dipped 0.07 per cent but South Korea's Kospi and China's Shanghai Composite added 0.3 per cent and 0.5 per cent, respectively.
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In episode 2 of Emkay Alpha Mavens, listen to Karan Bhagat, the Founder, MD & CEO of IIFL Wealth and Asset Management, as he talks about his journey to entrepreneurship, investment and wealth creation. Karan was initially offered a consulting role in a company based in Spain; but destiny had other plans as he had to join Kotak Securities because his overseas offer got revoked, due to 9/11 and the dot com crash. Owing to his earlier experience in the markets of Calcutta at age of 17 running a travel agency, he had decided, he won't do a sales job ever. In the hindsight, now he believes that in the making of an entrepreneur the key roles are played by – Luck, Immediate Surroundings, Hard work, Passion, & Perseverance in that order. Joining him are - Vikaas M Sachdeva, CEO of Emkay Investment Managers Ltd., and Sachin Shah, Fund Manager at Emkay Investment Managers Ltd. Listen to the three for some great insights on the topic. Register for upcoming events in the series here: https://www.pmsaifworld.com/emkay-alpha-mavens/
The BFSI industry acts as the bedrock of a nation's economy. During the current times dictated by lockdowns, social distancing, and work from home; interacting with customers through digital platforms has become the norm. Established in 1994, Kotak Securities is one of the oldest and largest Equity Broking Houses in India. As a subsidiary of Kotak Mahindra Bank Ltd., they bring opportunities in capital markets by empowering their customers through knowledge and technology...and, have always believed in being #DigitalFirst. To understand how Netcore's Marketing Automation platform is helping Kotak Securities achieve their goal of engaging and retaining their customers at scale, we caught up with Janika Tiwari, Associate Vice President - Third Party Products at Kotak Securities. Janika highlights the following: The genesis and growth story of Kotak Securities Why and how to invest globally with Kotak Securities How Netcore's Omnichannel Marketing Automation solution is helping Kotak Securities drive contextual customer engagement Evolving consumer behavior trends in the BFSI space in a post COVID-19 world Tune in to gain insights on how the BFSI industry is adapting to change by engaging intelligently with their customers across channels and platforms.
The US pharmaceutical market has gone through a structural change. Analysts expect growth of this sector in the US to moderate at around 2 or 3 percent per year as against 8 to 9 percent seen earlier. In this episode, Ekta Batra discusses the pharmaceutical market with Chirag Talati, associate director, Kotak Securities. #TheMedicineBox on CNBCTV18.com aims to give you an insight into all things pharma and health – from discussing trends in the industry to key issues in health with all the relevant experts. The third series of #TheMedicineBox focuses on pharmaceutical space. In this series, Batra talks to the top sell-side analysts covering the pharma and healthcare sector. They share their views on the big emerging trends, the big growth markets, R&D, and more.