Sachin Relekar from Axis Mutual Fund shares insights on India's equity markets. He highlights consumption and defense as key sectors for long-term growth. Relekar notes recent market volatility due to global events. He suggests a positive outlook for Indian equities, driven by domestic manufacturing and healthy corporate balance sheets.
Rajat Sharma of Sana Securities advises caution on defence and real estate due to high valuations, despite positive market sentiment. He expresses concerns about real estate balance sheets and the unsustainability of current valuations. Sharma favours ITC and alcohol stocks within the FMCG sector, highlighting their resilience against quick commerce and attractive valuations.
Bajaj Auto is facing potential electric scooter production disruptions starting in July due to China's restrictions on rare earth magnet exports, a critical component for EV motors. Despite submitting numerous applications, no clearances have been received, raising concerns about meeting production targets.
US equity-index futures slipped 0.2% after the S&P 500 Index trimmed most of an advance that earlier approached 1%. Contracts for Australia, Japan and Hong Kong pointed to a loss. The dollar was steady in early trading Friday after a gauge of the currencys strength weakened 0.4%.
Shareholders are selling company stakes. This follows a stock market recovery. Over 50,000 crore in shares have been sold this month. Deals involve companies like ITC, Bharti Airtel and IndiGo. Experts believe this trend will continue. Positive market sentiment and easing global concerns are driving the sales. Several companies are planning to raise funds soon.
Life Insurance Corporation of India invested in Adani Ports. LIC purchased 5,000-crore non-convertible debentures. This investment supports Adani Ports' plan to refinance debt. The company aims for longer-term borrowings at lower rates. The 15-year bond has a 7.75% coupon. Adani Ports will use the funds for capital expenditure. Refinancing existing debt is another purpose.
