- 5 months ago
Autos have already seen a sharp rally, while consumer durables, FMCG, PSU banks, and infrastructure are also emerging as areas to watch.
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NewsTranscript
00:00Thank you Anjali, good afternoon and welcome to market closing on our brand new collab show between Business Today and India Today Television.
00:23I'm Sakshi Batra and it's 3pm and we are here to get you all the market closing action right now.
00:29First up, let's take a look at what's hot in the world of corporate as well as financial space.
00:38Tech FMCG consumer durable stocks continue to fall for the second day in a row.
00:43Autos and banks, however, and the metal sectors keep the indices out of the red.
00:47Wild volatility in the sensex as well as the nifty rupee hits an all-time low of 88.8 to the dollar even as gold and silver continue to scale new highs.
00:59Private sector activity in India expands at a slower pace in September with both manufacturing and services PMI showing a drop from 17-year highs in August.
01:13HSBC attributes the fall to slower rise in export orders because of the 50% Trump tariffs that kicked in in early August.
01:20Two more Indians rise to the top position in the U.S. Srinivasan Gupalan to head T-Mobile from November and brewing giant Molson Coors appoints Rahul Goyal to steer it through the economic climate.
01:38Both leadership and more Indian faces to the American CXO list and come at a time when Indian talent is under attack by the Trump administration.
01:47Swiggy Food Marketplace CEO Rohit Kapoor exudes optimism as the festive season gets underway.
02:00Tells Business Today Television in an exclusive conversation that the company is on a strong footing with deals and promotions lined up.
02:07Claims new GST charges on deliveries are too small to impact food prices remains bullish about the prospects of quick commerce.
02:17Government working to ensure GST cut benefits are passed on to the consumers.
02:25Central Board of Indirect Taxes and Customs says it is watchful of profiteering by the company's ads.
02:31Fuel ATF will not be brought under GST for at least another year till the rate cut dust has settled.
02:37All right viewers let's start off by looking at how the markets are trading in the last half an hour of trade.
02:49Well remember we have been looking at some pressure building up into the markets right from yesterday right after we've been hit by that $100,000 H-1B visa fee that pulled down the IT sector lower.
03:02The Nifty again has been pretty choppy through the course of the day as well although we pulled up from the day's lowest point.
03:08The Nifty Bank however has managed to pull up into the green 0.3% higher in trade but it's the IT index that continues to slip for the second day in a row this week and you've seen a 0.7% decline on that front.
03:20What is however picking up pace and bucking the trend is the PSU banks that's the state-owned banking stocks over a percent higher now.
03:27This is the top moving sectoral index followed by metals that are shining bright again a percent higher in trade.
03:33You have the auto stocks that are continuing to reflect the GST rationalization benefit and enthusiasm into the stock prices.
03:40Look at the auto space it's up by 0.6% in trade even the banking space remember when there is a demand for more cars more consumer durables this festive season.
03:49There will also be more demand and higher demand for financing that and that is a job that banks and NBFCs do at large and therefore you see some uptick on the banking and the NBFC space as well.
04:02Which are the top stocks that are doing well today?
04:04You have Indescent Bank up by 2.6% top mover in trade.
04:08Access Bank that had got brokerage houses updates today 2% higher.
04:12Adani Enterprises continues to move up. Remember the third day of a move on the higher side for the Adani Group flagship major.
04:19JSW Steel and Bajaj Finance and even Maruti Suzuki hit a record high level in trade today void by the enthusiasm of the festive sales cheering on day one of Navratri itself.
04:29But what's on the back foot? Again some IT names there.
04:32You have Tech Mahindra that's down in trade.
04:34You have Trent from the retail space. Profit taking now here.
04:37You can also look at SBI Live, Nestle and HUL from the FMCG space that's on the back foot right now.
04:43But let's welcome our guest on board.
04:44Devarsh Vakil, Deputy Head of Retail Research at HDFC Securities is now joining in on the program.
04:50Devarsh, good afternoon to you.
04:52Help us understand what's your take in the markets.
04:54We have seen everything that is going right in the economy.
04:58Look at the GST cuts that have taken place.
05:00The reforms push is continuing.
05:02We have had in the past the GDP growth also pushing in higher.
05:06But whatever right could happen is happening.
05:08But the markets are actually still struggling.
05:11What do you think is the key reason?
05:16Right. Just a correction.
05:18I am the Head of Prime Research.
05:20The designation is a little old.
05:21But anyway, so the markets have been struggling.
05:27There are three, four key reasons why the markets have been underperforming.
05:33If you see the last one year, we have more or less flat.
05:37The reason I could see are primarily three reasons we can point out.
05:42The first is the earnings growth.
05:46We have seen that the last one year, the Nifty on aggregate, we have earned about 8% or so,
05:52which is little below market expectation.
05:55So that is the reason why the prices have been consolidated after the rally.
05:59The second is the valuation.
06:01See, compared to the emerging markets, the Indian MSCI, Indian index is trading about 20 times next year.
06:09Earnings compared to MSCI, emerging market is about 12 times.
06:13So earlier, in the beginning of year, we were at about 85% premium to the other emerging markets.
06:19Now, the premium has narrowed down.
06:21Now, we are at about 65% premium.
06:23But long-term averages are down 50% premium.
06:26So there is still some premium loss may happen compared to other emerging markets.
06:33And third is, as you just mentioned, there are some geopolitical concerns,
06:37the trade policy concerns and the recent one, which is the H1B visa you spoke about.
06:43So these are the reasons why our markets have been consolidating for the last one year.
06:47So Devash, what are you doing at this point in time?
06:50And what are you advising investors to do at this point in time?
06:53Take this as an opportunity, the consolidation in the markets and start accumulating stocks
06:58or maybe even sectors, focus on your SIP, mutual funds as well at this point in time
07:04to continue to take the benefit of the consolidation in the markets
07:07or should one hold on to the cash that they have?
07:13No, I think this is an excellent opportunity.
07:16This consolidation is an excellent buying opportunity for the overall longer-term market.
07:20See, Indian structural growth story is still intact.
07:24We were actually moved, prices moved a little ahead of the fundamentals and we are consolidating now.
07:30The earnings will revive in the second half.
07:33We have already seen the income tax cut, GST cut, monsoons have been good.
07:39And now we are also seeing that the revival in the consumption like yesterday we saw on the
07:47first day of February 3, record buying has been seen across various categories.
07:51So I think the second half is expected to be good.
07:55Those, I think rupee has also depreciated.
07:58So one of the concerns which FII had, that also has played out.
08:01And going forward, we think that the selling will abate and that should also help the market
08:06stabilize and move ahead.
08:08So if you are a long-term investor, if you are doing investing or building a portfolio
08:13through systematic investment plans, SIP, then there is no better time than this to keep
08:19acclimating those units.
08:21Eventually, prices are slaved to the earnings.
08:24And as India's demographic, India's growth story will pine out, prices will move higher
08:28and that will help you generate wealth.
08:31Okay, so Devash, we have also got this data today.
08:33India's private sector activity seems to have lost some momentum in September.
08:37It has slipped from record highs that we saw a month ago.
08:40The September flash of a composite PMI output index has fallen to 61.9 from 63.2 in August.
08:48While the manufacturing PMI has also slipped to 58.5, services have also slowed down to 61.6.
08:54So these are all the numbers.
08:55But help us and our viewers understand what does it really mean?
08:59Will this also pass?
09:01Because is it only a blip in September?
09:04Will we again get to see on the manufacturing services data going forward from here reflect
09:09what you pointed out, the GST rationalization?
09:11Correct.
09:14So there are some seasonal factors also.
09:17We had heavier than usual monsoon and that do impact the logistics and the manufacturing sector
09:24for the last couple of weeks.
09:25But I think we are at the fag end of this.
09:28We are already seeing other high frequency data improving.
09:32And when we actually will see the October number one, when the second quarter earnings will
09:39come out, we are hopeful that it will be a much higher earnings that should support the
09:44prices.
09:45So these little blips which are there, it is part and parcel of the markets.
09:50Yes, the data will not move in one straight line.
09:54But obviously, there will be some bumps across the road.
09:57But we have to keep an eye on the longer term.
09:59And I think we are at a good juncture to start accumulating stocks.
10:04Fair point.
10:05Divash, hold that thought there.
10:06We are going to be now focusing our attention to the entire auto sector, which you also
10:11pointed out in your opening comments, has been reflecting off the kind of demand we have
10:15seen because of the next generation GST reforms on day one of Navaratri as well.
10:20Some record numbers have been shared by a lot of OEMs as well.
10:24And we are now going to be trying to understand how the auto sector is, you know, hoping for
10:29this entire festive season to really pan out in trade.
10:32We are now joined by a special guest, Mr. Sai Giridhar.
10:35He is the Vice President of ADA and he joins in to share with us what exactly has panned
10:39out till now.
10:41Mr. Giridhar, a warm welcome to you.
10:43Geraf Noon, help us understand, first one and a half days has passed on from this GST
10:48cuts.
10:49There was a huge anticipation in the auto sector of these dates.
10:52We were waiting with weighted breath.
10:53What have you observed in terms of key numbers, in terms of key metrics that you can explain
10:58to our viewers, sir?
11:00First of all, thanks for having us here.
11:03It's better than expected.
11:04That's what I can say.
11:05We were expecting a surge because the inquiries were actually on an all-time record high.
11:11But the bookings were not happening to that extent.
11:13So the inquiry to booking ratio was not to the level of expectation.
11:18But yesterday was a record-breaking day for us.
11:21And in fact, I believe most of the OEMs, most of the dealers, our members across India
11:27would have probably, this would be the record month for them in last, what, five odd years.
11:31Okay, record month, it is going to pan out in five odd years if you compare with the kind
11:37of numbers that are floating in already.
11:39Can you give us a breakup on day one across dealerships?
11:43What have you seen in terms of where has the demand been seen maximum?
11:48Is it the entry-level vehicles?
11:50Is it the mid-size or the luxury ones?
11:52How have you looked at that aspect?
11:55So this time, it's a bit different.
11:57It's all across.
11:58It's not limited to two-wheels or four-wheels or even six-wheels, eight-wheels.
12:02It is all across because the GST benefit is across segment.
12:06It is ranging from two-wheeler to entry-level cars and even to luxury segment.
12:11So even luxury segment, generally, over the years, what we've seen is we've never seen
12:16this kind of a drastic reduction in price.
12:19At least in my entire automobile career, I've never seen this type of a drop in prices.
12:24We've always anticipated an increase in price.
12:28Budget is coming.
12:29The prices will go up.
12:30This is the first time that we are experiencing this.
12:33So probably the budget more, sir, as our Prime Minister is calling it and terming it, probably
12:38that's what is quite evident all across the showrooms across India.
12:43Absolutely.
12:43So now, Mr. Givinder, you…
12:45Yeah, yeah, yeah.
12:45Please go on.
12:46The only and only concern which I want to raise a flag out here is probably it would be
12:51on the terms of logistics because, see, most of the dealers also were holding back on
12:55their wholesales from the OEMs.
12:57Even the wholesales have started yesterday.
13:00So, how soon those vehicles will reach the dealership and the balance wholesales, which
13:05will probably be done in the next few days.
13:07Yes, that's the exact point that I wanted to actually come to you for.
13:10We've also seen a lot of, you know, visuals from yesterday that there were queues outside
13:15dealerships right from the morning.
13:18You know, your phones kept on ringing for multiple inquiries.
13:21Even your online inquiries have crossed all kinds of parameters on day one of Navaratri
13:27as well.
13:28So, what will happen if people are waiting for their vehicles to be delivered?
13:32Will they get delayed because of such a huge demand?
13:35So, to the best of my knowledge, as on day, we are still hopeful that we will be able to
13:41deliver because, see, we knew that this particular thing will happen.
13:44All the OEMs knew that this is what is in store with us.
13:48So, everyone had made arrangements for this.
13:50So, like I have spoken to a few of the manufacturers.
13:53They had anticipated that they have to dispatch and they have done 2x, 3x preparations for
14:00their dispatches.
14:01But the main issue would be in next probably four or five days because you will again require
14:06those crawlers back to your plan to dispatch the next lot of vehicles.
14:10Then it will become a problem.
14:11From the banker's point of view, if you talk about on the retail finance, they need to process
14:16all these because what we are talking about is we are talking about 2x or 3x of business
14:21which we had done last year during those same Navaratris.
14:25So, if I can just throw some numbers.
14:27Last year, it was around about 8.5 lakh odd vehicles which got registered during these nine
14:32days of Navaratris.
14:33This time, we are talking about at least what between 17 lakhs to above 20 lakh vehicles we
14:40are targeting.
14:41So, it's a huge number.
14:42It requires a lot of logistics, it requires banks to remit the payments, the circulation
14:47has to be there for everything.
14:49So, it's a huge task.
14:51So, there you have it viewers.
14:53That's the key headline that Mr. Giridhar has mentioned.
14:56Last Navaratri, the nine days cumulatively led to 8.5 lakh vehicles getting registered.
15:03But this time around, the number is expected to swell to over 17 lakh to even up to 20 lakh
15:10units getting registered in just nine days and that is led by the GST cards.
15:16Mr. Giridhar, just hold that thought there.
15:18I'm also going to be going across to my colleague, Chetan Bhutani, who is joining in, who covers
15:23the auto sector for us.
15:25This momentum is not just limited to the new cars and new vehicles.
15:30The demand is also trickling into the used car markets as well.
15:35Go on, Chetan.
15:35Tell us, what have you found out?
15:37Well, I was pretty surprised when we got to hear from those numbers from Cars24 about the
15:42massive surge in demand in used car segment as well.
15:45So, it's just not new cars.
15:46We have demand from the old car segment as well.
15:48You know, in fact, used cars 24s.
15:51In fact, the co-founder had tweeted that were 400% deliveries done on the first day of the
15:57Navratra.
15:57In fact, the inquiries had also surged 5 to 10x and a whole lot of numbers coming out
16:03from the used car segment.
16:04In fact, so if you see when somebody plans to buy a used car, you definitely have to
16:10get that car inspected.
16:11So, Cars24 on the first day of Navratras undertook about 5,000 plus inspections, which amounts
16:17to literally doubling of inspections that they do on an average, you know, festive season.
16:22So, clearly, strong demands coming in from the metros like Ahmedabad, Pune, Delhi, NCR,
16:27Bangalore and Calcutta as well.
16:28So, clearly, all in all, the whole automobile segment is getting that demand that we were
16:33talking about.
16:34Absolutely, Chetan.
16:35Thanks for tracking that for us.
16:36Mr. Geridir, coming back to you towards the end, help our viewers understand.
16:40For those who have still not, you know, gone out to the nearby dealerships to inquire about
16:45the bookings, maybe they haven't made up their mind yet, you know, and are probably facing
16:50a lot of FOMO as well.
16:52Maybe they have this thought that they must buy.
16:55Will they get a car?
16:56Will they get their choice of vehicle if they go now?
16:59And what is the best time to go ahead and probably go to a nearby dealership and book
17:05that vehicle now?
17:07We've been telling this from last, what, 10 odd days that the best time is now.
17:13Go to your dealership, book your car if you have the variant and the color of your choice.
17:18Don't even blink.
17:19Just book that car because it will be too late.
17:22You'll not get the vehicles by this Diwali also.
17:24If you decide or you still keep on waiting or holding your horses.
17:28Okay, fair point.
17:29Thank you so much, Mr. Geridir, for giving us all of those insights.
17:32So the best time is now.
17:34Do not wait if you've made up your mind that you have to go ahead and purchase your vehicle
17:38of your choice because of the GST rationalization.
17:41Otherwise, the wait will be too long.
17:43You might not even get your choice of vehicle by Diwali.
17:46The demand is absolutely unprecedented.
17:48Thank you so much, Mr. Geridir, for sharing with us all those insights.
17:52Going back to Devarsh now.
17:53Devarsh, you've heard the entire auto experts and as to how they are talking about the huge
18:00unprecedented demand here, we've already seen the auto segment reflecting this in the stock
18:06prices from last one month, 15 to 30 percent of a rally in individual stocks has already
18:11come in.
18:12Maruti Suzuki has hit a record high in trade today.
18:15In fact, what we are also given to understand is that there's a one lakh crore boom on the
18:20market cap front.
18:22Maruti Suzuki on the stock market front has turned out to be the biggest GST winner with
18:26a 26 percent rally that we've seen across last one month.
18:29What's exactly your thought on the auto space and what would be your choice of stocks be
18:33there?
18:36Sure.
18:37So, as you said, the demand outlook remained positive.
18:40We actually prefer the two-wheeler and the tractor side of the markets.
18:46Most of the OEMs are suggesting mid-single-digit growth.
18:49Earlier, they had a price pressure and now the favorable interest rate cut, the GST cut,
18:56the softening in push costs.
18:57All this will lead to the boost of the margins.
19:00So, we have been bullish on some two-wheeler stocks, some four-wheeler stocks.
19:06In fact, for 2025 year, the yearly pick, one of the picks were Maruti, which has done
19:12phenomenally well.
19:13Still, from these prices, I think Ashok Leland in the commercial vehicle side, still there
19:20is 25-25 percent upside left from our target price.
19:24Maruti has run up, as you just mentioned.
19:27There is some still 13-14 percent upside left from our target.
19:30There is some upside left.
19:31And one can look at TVS Motors and Ayesha also.
19:38Okay, hold that thought there.
19:39We have a breaking news coming in and I want to highlight for our viewers, this is good news.
19:44Big thumbs up for India's economic growth story.
19:47OECD has raised India F526 growth forecast by 40 basis points to now 6.7 percent.
19:55Most of our internal targets were 6.5 percent, be it of RBI and our own government's forecast
20:01as well.
20:02Remember, these are the external agencies of the world that are now bullish on India.
20:07OECD has also cut India's F526, that's the financial year of 2026.
20:13Inflation forecast by 120 basis points to 2.9 percent as well, which means they are bullish,
20:20growth will increase and inflation will dip further from here.
20:25OECD has said that U.S. tariffs will be weighing on India's export sector.
20:30However, OECD believes economy is supported by the monetary fiscal policy easing and the
20:37GST reforms are a big support for India's growth going forward.
20:41So right a day after GST 2.0 rollout has been seen, there are external agencies in the
20:48world who are betting big on the India growth story.
20:51Also believing that GST cuts will lead to lower inflation and good news for the common
20:58man as well.
20:59Coming back to Devarsh on the front.
21:01So definitely there are hopes global agencies have penciled in that India's economy is going
21:06to get a fillip, a support from all these reforms oriented push that we are getting.
21:11How are you looking at some of the other consumption oriented sectors beyond autos, consumer durables,
21:16for instance?
21:17How are you looking at FMCG, for instance?
21:19Maybe even leather goods, retail space.
21:21People will be going to buy their footwear, clothes as well, which have got cheaper.
21:26People will be buying a lot of personal care products that have got cheaper as well.
21:30How are you looking at all of these sectors now?
21:33So as you mentioned, because of the GST cut and interest rate cut and good monsoons, we
21:45are expecting that the urban demand, which was slow, should start picking up and we have
21:50seen the early signs in the yesterday's sales.
21:53So yes, we are expecting a good second half for all these companies.
21:58There are many sectors which you mentioned.
22:01I'll take one of them, say consumer durables.
22:03There are some stocks like Umbar Enterprises, Crompton Consumer and Symphony, where we have
22:12our coverage and the targets are higher from market prices.
22:17So if somebody were to look to invest in this, they can have a look at these names for a long
22:22term industry.
22:22Okay, let's also look at how the festivities are being seen by the quick commerce segment
22:29as well.
22:30With the festive season underway, Swiggy is seeing strong momentum, particularly on Instamart,
22:35where lower prices and GST cuts are actually giving consumers an edge as well.
22:39In an exclusive conversation with Business Today Television's Abha Bakaya, CEO of Swiggy
22:45Food Marketplace, Rohit Kapoor, had this to say.
22:47Let's listen in.
22:48Just, you know, an update from you, Rohit, you know, with the GST council bringing delivery
22:53charges under Section 9, platforms will now be directly liable.
22:57So will Swiggy absorb the cost or pass it on?
23:00Any impact you foresee on margins, order volumes?
23:03Just your reaction to the changes in GST.
23:06No, I think overall, look, I think because I always look at these measures not in specific
23:13to the company that I'm running right now, but also what's doing to the economy because
23:17any extra money in the hands of the consumers is net good, right, for us.
23:23So that way, I think the GST regulations and the changes which have come across are very,
23:27very welcome because it just puts money in the back of, in the hands of the consumer in
23:30a big way across categories, right?
23:34For us, I think the impact is not that large.
23:37So I don't think it's a material, on the food delivery side, it's a material impact.
23:41I think we are still, we are following whatever has come.
23:44And I think on the Instamart side, especially, I think there's a lot of goods which are not
23:50cheaper, right, simply because it is, and that's the bulk.
23:54Actually, if you see the, what, what impacts consumers coming out of our platform, it's
24:00far more of the, I know Delphi is more talked about, but definitely it is the reduction in,
24:06in, in the price of goods, which we, you know, where Instamart is a marketplace, that's
24:13being impacted a lot more in a positive way.
24:15So I think net, net from the platform, what you're seeing is coming out is probably a
24:19cheaper proposition to the consumers because of the GST changes.
24:22Very, very welcome at this point in time, yeah.
24:26Rohit, I know you said you don't necessarily give outlook, but it is a festive season and
24:30we're, you know, watching the impact across the board as consumption picks up on auto,
24:36you know, gold financiers, you know, several segments of the economy, as you mentioned.
24:41And, you know, just a closing comment from you on really what Swiggy is looking forward
24:45to seeing this festive season.
24:48It is a big one for all players.
24:50And I'm sure you're also looking for this quarter to, of course, be lifted on the back
24:54of that.
24:55So, O&D is a quarter where I think the weather is better and everything is better, right,
25:01typically.
25:02We are, we actually kicked it off quite in earnest with the Quick India Moment sale, which
25:07is going on till 28th and huge deals offers on Instamart there.
25:12But I do expect that we are riding into the quarter reasonably on strong footing.
25:17So, and it's just, it's just more strong footing on ops, on supply, on categories, everything.
25:27So, look, I always believe ABBA, the macro, we never control, right?
25:31It's very hard for us to control the macro or even think about it beyond the point because
25:35it doesn't, it matters a lot, but it's only that much you can influence.
25:42But overall, I see the sentiment picking up.
25:45I also see hopefully the GST changes will come into place on 22nd of this month will also
25:53help.
25:53Very positive.
25:55Also, it's a great quarter usually for a lot of action and activity and excitement.
26:02So, I look forward to it always.
26:04But I don't see this, honestly, as any big difference from last O&D in terms of just opportunity
26:10size.
26:12Ship focused to the market closing.
26:14The markets have shut shop on a lower note at 25,169, one-tenths percent of a loss there
26:19with FMCG, real estate, IT sectors losing in trade, but PSU banks, metals, private banks
26:26as well and financial services, banks taking the lead today.
26:29Remember, it's the weekly contract on the nifty, so the banks have really pulled up higher,
26:33but the consumption-oriented sectors have seen some profit booking take place.
26:37Top movers, Indusin Bank, Axis Bank, Bajaj Finance, JSW Steel and Maruti Suzuki.
26:42Of course, a keynote record closing highs for this one.
26:46And towards the end, when we look at the lagarts, Tech Mahindra, Trent, SPI Life from the insurance
26:51space, Ultratech Cement and even FMCG players, fast-moving consumer goods, Nestle and HUL
26:56seeing some profits being taken off the table as well.
26:59But let's go back to Devash to try and understand what are the questions that are coming in from
27:04our viewers today.
27:05Devash, we have two questions from our viewers who've asked you.
27:09Tanushree Bhatinda wants to know about which is the best sector to invest in in the festive season.
27:16So, we should look at investment with a little longer-term perspective, not just for the festive season.
27:23And I think a couple of sectors which do look attractive from now.
27:29One is the PSU banks, which we mentioned, we have discussed.
27:35There, the possibility of earnings growth and eventually mergers and acquisition will make it attractive
27:41for longer-term investors.
27:43Another one is the government focus on infrastructure and the healthy revenue growth we are seeing
27:48in the cement sector.
27:49I think volume-lit growth plus price hike and the reduction in the GST rates will make a strong
27:58quarter for these companies, particularly in the east and the northeast region.
28:02We are seeing a lot of growth.
28:03So, cement, maybe pharmaceutical and PSU banks, these are the three sectors.
28:10If I were to look at new capital, I would look at these sectors now.
28:14Okay.
28:14The next one that we have is from Kolkata.
28:17Rana asks you, for long-term, should I invest in large caps, mid caps or small caps as well?
28:23Not a definition of what is a long-term, but if one has to say that if somebody is a long-term
28:29investor, what would you vouch for?
28:33So, it depends upon his risk appetite and his return expectations.
28:38The large caps are usually stable.
28:40They have a steady business model and they are well-known companies.
28:44So, you get the information about corporate developments so you can track your investment
28:49easily.
28:50But if you are looking for higher returns, then eventually the smaller or the mid-cap
28:54companies do become larger and they give you more return.
28:57So, I would say depending upon your age and the risk profile, you can look at these large
29:02cap or mid-cap allocation accordingly.
29:05If we were actually very cautious on the mid-cap and small cap at the beginning of the year,
29:10now I think the time has come when we can take more risk and have a look at mid-cap, small
29:15cap and a large cap, maybe equal mix of both.
29:17All right.
29:18Devarsh, thank you so much for sparing your time and sharing all those wonderful insights
29:23on the markets.
29:24That's a wrap, viewers, on the closing edition of Business Today Show.
29:27And in case you do have questions about investments in mutual funds, SIPs, stocks or gold-related
29:32queries, then please do send them to us on the number that's flashing on your screens.
29:36And of course, catch all the market action in the morning at 9 a.m. with Abba Bakayana.
29:41We'll see you next time.
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