While the wider indexes can face almost-term pressure, Raichura believes the momentum of Indian equities unrelated, driven by a combination of structural structures and ridicule.
In a meaningful conversation, he or she designed why auto, QSR (easy service restaurants), and how investors processed in long ports of long haul. Edited quotes –
Q) Thanks for getting out of time outside. May May start with a quick note with benchmark indexes witnessing wild swings on either side. How are you markets?
A) We first predicted a repair from the level of 22K to 25k level at the moment. We now expect indexes to deal with some near high pressure as a large amount of worldwears guard the markets of tilehooks.
However, a good and timely tenant can encourage rural needs, tax merchants for union believers and positive advances in tariff markets positive in markets.
We look forward to the well reaches its fair value at the present level, but the momentum can bring it especially if US dollar corrects from 99 levels of 92 or more. Any rate cut by RBI is more than expectation can be a more powerful positive effect
Q) What is the meaning you make from quarter results in March? Reduces more than upgrade at this time around?
A) While the total income period reflects the strength of certain sectors, the spread of suffering suggests to take care of investors with engagement of involvement of upgrading. Earnings upgrades-to-downgrade ratio stands 0.3x, the lowest since Q1FY21.Q) We see the banks of indusind, and many skeletons can exit the closet near future. What do investors do to do these types of companies with corporate management issues?
A) Our meaning is that most lapses are corrected, and no significant deviations are expected. For FY26 / 27E we refer to debt progress at 5% / 2% to 8% / 11% and after Cascading Effect Cut Ni 15% / 13%.
This will result in an income cut by 31% / 26% and ABV reduction in Avg. 8.6%. The RBI asked the suggestions for the New CEO appointment on the 30th Jun’25; Near the medium terms to go to the pedigree in the future CEO and respective methods to improve management, credibility and bases.
Stock is trading at 0.8x at Mar’27 abv; We maintain several 0.9x but cut TP to RS780 from RS860. Hold hold.
Q) What is long views for India equities over the next few years?
A) Markets Seem to have digested the uncertainty related to Global Tariff Wars on Hopes of lesser disruption and trade agreements by major economies.
However, an end of global unrest found as China’s growth is slow, US interest rates maintained Japan’s interest rates in transit.
Overall, the scenario is ripe for another value of 50bps to cut the RBI in the next 6 months, however reduced rates of a monitoring rate.
Q) Which sectors are expected to give a strong return forward? Any secure bets that investors can think about?
A) We look forward to benefits for auto, hotels, airlines, durable, QSR, foot clothes, building tools, household appliances, paintings and amc.
In addition, capital goods, defenses, pharma, pharma, ems, travel and telecom continue to have a positive outlook.
We add industries to Sun Pharmaceutional, Medicare to captives of captives and the aeronautics of the convictions selected.
Q) How can high amounts of individuals effectively build wealth at the present market environment?
A) We Believe Larger Investors Should have a slightly large cap biased portfolio – from the NSE 100 Index Typically, Apart from some exposure to Quality Stocks Like Hinduja Finance, NSE etc in the unlisted space.
We are unreliable that the developing situation is ideal for weak sheets of balance or international revealed companies and to that reason, we recommend drawing popular names.
We also believe that tenor bond funds can be viewed to go to a decrease in high-doubt interest rates especially if GDP progress is not blocked.
Many conservative investors may want to look at dynamic funds in bond and gold in their portfolios from a 2-year view
Q) What do you get in gold? Recently, it crosses Rs 1 lakh in the physical market. Right time to add allocation or investors should wait for some cool?
A) Gold is in a bull run structure and continued buying central banks from USD 2200 levels continue to be maintained.
We believe that we are for major changes in the way of each other’s trades and of course, Ukraine Russia Constantant will also remain gold.
USD denials can also support positive moves. We believe that gold must be at least 5% of client portfolios either at current level.
(Disclaim: Recommendations, suggestions, views, and opinions given to experts themselves. It does not represent views of economic times)
