Market Mania

Market Mania

2/6/2025, 2:30:20 AM

Mumbai couple Sanjay and Alpana Dangi are worth $2.3 billion Dangi says days of easy money in Indian stocks are over Shares of Authum Investment & Infrastructure Ltd., a shadow bank controlled by Dangi, have surged 900% in the past three years. Authum, which invests in mid- and small-sized companies, has a market capitalization of about 288 billion rupees ($3.3 billion) making it more valuable than London-based Man Group Plc, the world’s biggest publicly traded hedge fund, despite having only a fraction of its assets. In addition, the 54-year-old’s purchase in 2022 and 2023 of two shadow banks — Reliance Commercial Finance and Reliance Home Finance from Anil Ambani, the younger brother of Asia’s richest man Mukesh Ambani — has made people notice him. By acquiring the two shadow banks, Authum gained access to Reliance’s lending infrastructure, employees and IT system that would otherwise take time and money to build from scratch, Dangi said. Of the 450 employees on Authum’s payroll, 400 are working to recover loans.

Market Mania

2/6/2025, 3:52:40 AM

Jefferies says India Q3 corporate earnings “better than feared” Q3 IT results were mostly in-line but outlook has substantially improved on rising discretionary demand in the U.S. Given that the corporate earnings delivery in H1FY25 has been muted, the consensus earnings growth estimates for FY25 now stands in mid - single digits, while expectations remain of mid-teens earnings growth in FY26. This deceleration in earnings in FY25 can be attributed to the slowdown in consumption (especially urban consumption), near term deceleration in government capex, and credit growth easing from 16-17% to ~11-12% at present. From here on, the trajectory of earnings growth in FY26 would depend to a great extent on the revival of demand and resumption of government spending. In that context, the key driver for earnings in FY26 would have to be topline growth as most of the margin levers has been largely exhausted.

Market Mania

2/6/2025, 1:58:20 AM

“Although RBI has recently turned proactive in liquidity infusion, much more is required in our view,” said Suyash Choudhary, head of fixed income at Bandhan AMC Ltd. “This is especially if any potential rate cut has to be transmitted into lending rates.”

Market Mania

2/1/2025, 3:22:55 AM

#UnionBudget2025: #StockMarket to remain open for trading today Regular trading hours to apply, #NSE and #BSE confirm