- 2 days ago
While many investors still chase familiar names, experts caution that the real traction ahead will come from companies priced right, with fundamentals to back them up.
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00:00good afternoon and welcome to the market closing on our collab show between business today and
00:20india today television i'm sakshi patra it's 3pm and we are here to get you all the market
00:24closing action let's first take a look at what's hot in the corporate and the financial world
00:30andhra pradesh signs 15 billion dollars deal with google largest in south asia to build a one gigawatt
00:39ai and data center hub in vishaka patna madani enterprises and bharti etl join as partners for
00:45india's biggest data campus lg electronics india makes a blockbuster stock market debut listing
00:56at 1715 rupees per share of 50 premium over its 1140 rupees issue price remember the market cap
01:04has now surpassed the korean parent as well marking a historic milestone
01:08gold and silver on a joyride prices hit record highs on mcx's global demand surges in new delhi we are
01:19seeing 24 carat gold prices are now trading at 1.26 lakh rupees per 10 grams silver is at around
01:261.88 lakh rupees per kilogram after the dream rally international gold and silver spot prices
01:33although have cooled off slightly
01:34stock market slipped from early highs on weekly nse expiry sensex is down by 500 points and the nifty
01:44is now below 25 100 odd mark the mid cap and the small cap indices have fallen by one percent
01:49with metals psu banks pharma and consumer durables dragging in trade
01:53data motors shares have adjusted for demerger of its commercial vehicle business shares opened at 400
02:04rupees after a special price discovery session this morning the one is to one demerger has created two
02:10entities now tata motors passenger vehicles which is now reflected in the stock price today and the
02:15other company tata motors commercial vehicles which will be listed separately on the stock markets
02:20approximately a month later
02:22let's straight away look at how the markets are trading at this point in time well all the sectors
02:33have actually come under now pressure and remember it's the weekly expiry of the nse contracts
02:37although we are seeing some moves among the stock stocks from the pharma pack from the it pack and
02:43even from the metals pack as well at this point in time max healthcare is the top mover you have
02:48vipro tech maindra from the it pack apollo hospitals again from the healthcare basket power grid on gc and
02:53bajaj auto as among those top movers in trade right now on the downside however you have dr reddy's
02:59bajaj finance pharat electronics ntpc and tata consultancy services as among those stocks that are down
03:05in trade but it's time now to welcome our guest on board mr arshu madhan the md of jm financial is
03:10now joining in to share with us his views on the markets warm welcome to you mr madhan thank you so
03:15much for taking the time out season's greetings to you for the upcoming festivities of diwali
03:19tell us why is the festive cheer missing on d street but
03:22so sakshi thank you for having me first of all and another thanks to you that for not asking me what is
03:29the view on gold and silver because that's what most of the clients and family members are asking
03:34nowadays nobody's talking about equity markets so see uh sakshi we i mean good thing is that there
03:41is a continuity and we've been talking since last couple of fortnights uh so it's in the range market
03:47is not going anywhere market the only thing uh who it's like that trump and tariff would not let you
03:53live and domestic flows and mutual fund and retail will let you not let you go down so that's what is
04:04happening in the market so we'll continue to hover around the broad range of 24 500 and 25 500
04:10sakshi the interesting thing will be at 20 500 some things or nothing will happen and you will see a
04:17correction of 500 000 points and you will we keep wondering that what has happened that we have i mean
04:21corrected and suddenly without any reason there's a pullback also i think it has happened multiple
04:26times in the last few months and probably it will continue to happen multiple times in future also
04:31so net in net we are not going anywhere uh plus also sakshi very important thing is that earlier the
04:37extreme longs and shorts we used to conclude a view that there could be a short covering the market
04:42or there could be profit booking in the market now the new normal is that the extreme shorts and extreme
04:47longs can continue for long so that is what is happening in the market and between that between
04:52that i mean some sectors here and there so in a broad range sakshi we'll keep talking unless it breaks
04:58out either side uh we are not going anywhere we're not going anywhere well although mr madhan you know
05:03you do see that the secondary markets are kind of lackluster at this point in time you marked out the
05:08reasons for us as well but it's the primary market that is actually seeing a lot of spark
05:13this festive season look at what's happened with lg electronics of 50 percent uh you know subscription
05:1854 subscription 50 premium of a listing and uh you know the investors are a happy lot although a few
05:25of them only got the allotment and that's the biggest uh kind of a grudge at this point in time
05:31among most of the investors that they did not get the allotment for this um you know outperforming
05:35ipo at large as well in fact with this kind of a surge we've seen lg electronics the india
05:41company now surpassing in market capitalization vis-a-vis the korean major as well so how are
05:46you looking at this exuberance in the ipo space and what was your call now on lg sir
05:51so sakshi this is a lesson learned for everyone that when the when the company or fundamentals are
05:56strong and there is there is there is a right valuation there are takers also and the profit
06:01will be made so i mean hats off to lg for coming out with these valuations otherwise we keep blaming i
06:06mean majority of the ipos we are seeing we keep blaming merchant bankers promoters or probably the
06:12people they are not aware of so i think thanks to lg for reviving that sentiment and the that's not
06:17euphoria i mean that's the real money which have been made and it is very heartening to see genuine
06:21retail investors making money otherwise i mean 60 70 percent of the ipo is a decent past people have
06:27have been stuck yeah so i think it's a lesson learned for i mean it's a lesson for everyone that if
06:32there's on the table i mean ipo market can really expand this market and one should use that tool
06:36but not to just i mean make fool of a retail investor absolutely one more question on the
06:43ipo space you know how are you looking at this divergent trend between what happened with tata
06:47capital it's today slipped even below the issue price as well and what's happened with lg electronics
06:52and how should investors therefore decide out of even large conglomerate names that are coming up
06:57with the ipos where to put in their money see that is the problem sakshi again the valuation
07:02people get carried away by the i mean the murky murky name attached to it and that is where they
07:09have to consult and a professional advisor for the valuation see all said and done what is the
07:14problem in our market since last i mean four quarters or five quarters or six quarters it is the
07:21earnings and valuation so ultimately the thumb rule or probably the uh i mean the real mantra or
07:27probably the sacred thing is valuation and earnings if that those things are not supporting you i mean
07:33for a short while we can we can see some exuberance we can see some uh some kind of a spike but
07:39ultimately that is the backbone that is the platform the market has to be built on that so i think
07:44next couple of quarters are very crucial for the recovery to be seen in the market other than that
07:49it is very difficult and same goes for the ipos i mean as i said that lg has given us one of the i
07:54mean the prime example if the valuations are right and if you leave something on the table
07:57this exuberant can can can go much higher also but people get dejected because because when they
08:03get stuck in the most of the uh companies and tata capital again is a prime example of a company which
08:09is which is a brand in its own and in in any case all tata group majority of tata group stocks
08:14are struggling but if you look if you look at i mean not just the listing sakshi i mean i'm sure
08:19you're lacking this market i mean at much higher valuation people have bought that stock in an
08:25unlisted market so what kind of losses they are nursing on to so again for for example there are
08:31two or three success stories they get floated around the whatsapp industries glorify that those
08:36success stories and then there are another 70 percent that people get stuck in and tata capital is
08:41another prime example of that okay got that you know but the tata group is also in focus today
08:49and has been over the last couple of sessions for a lot of developments as well the other stock from
08:54the tata group that's in focus today is that tata motors shares have adjusted today uh following the
09:00demerger of its commercial vehicles business as well now right in the morning when people saw uh the
09:05prices slip by 40 percent they were uh you know caught uh unfound and that was the reason was that
09:10the company has now split into two tata motors passenger vehicles business is now um you know
09:16the price discovery happened this morning it opened at 400 odd levels right now trading at 395
09:21remember the commercial vehicles business is going to be listed later but i have my colleague
09:26chetan bhutani who's now joining in on the show with me to help us understand and all our viewers as
09:32well what exactly should one be really looking at the stock markets of course are trying to adjust
09:38to the prices at this point in time but chetan tata motors will be split into two different
09:42companies which means investors who have had tata motors shares in their portfolios will be getting
09:48one free for one each held for tata motors passenger vehicles business eventually and of course we'll be
09:55waiting by maybe in a month or so we will get to see how tata motors commercial vehicles business
10:00also gets adjusted but tell us uh you know what is uh the kind of expectation that investors must have
10:06from both these businesses now oh well you know sakshi let me break it down very simply for our
10:10viewers you know tata motors has now officially split into two companies one is for the car which
10:15is the passengers and evs one is for trucks and buses which is on the commercial vehicle side
10:18from 1st of october 2025 this would be called the tata motors passenger vehicles limited that's the
10:23companies whose shares majority of the people hold well the truck and the bus business will become a
10:28separate listed company later so shareholders of tata motors will also get shares in the new
10:33company once that it is listed and for today 14th october is the recorded meaning that stock
10:37exchanges has officially uh you know recorded the rate at which the prices of tata motors share has
10:42been listed so it's completely normal nothing for the consumers or the shareholders to be worried
10:46about that the company has not lost its value in fact on the contrary it's good news because
10:50eventually with times to come you would be getting almost like a free share for tata motors
10:55commercial vehicle business because if you hold a tata motors passenger vehicle
10:58uh business right now share you actually get complimentary and the same amount that you hold
11:03for tata motors as well so the total value of investments actually remains the same it's just
11:07that now you get you know one share you get another share almost free so it's kind of a good deal
11:11for the shareholders and of course nothing to worry about as far as the consumers and of course
11:15the tata motors shareholders are present so okay thanks a lot shetan for that let me uh take this
11:20conversation to mr badan and uh help our viewers understand sir when it comes to the choice now there
11:25will be a choice of two tata motors companies to really look at from eventually after a month
11:30right now it's only the passenger vehicles business that is getting a reflection on the
11:34stock market so far the you know kind of consolidated business in this year tata motors shares have
11:40disappointed the street as well they have remained in a very narrow band of a trade what to expect from
11:46here on of course shareholders who had the stock will have the luxury of having both the businesses in
11:52their portfolios for those who may be now mulling to invest a fresh should they put in fresh money
11:57in tata motors passenger vehicles starting today or should they hold their funds for the commercial
12:01business which business is doing better and what stock performance that you expect on that front
12:06is actually incidentally i mean first of all like you said it has been in a range range after 40
12:12percent correction i mean we have seen 1100 after 1100 it has been in a range of 700 people i mean
12:18started higher levels are already creeping but uh to come to the point i mean sakshi uh the real bread
12:26and butter or probably the uh the the alpha beta for tata motor is the jlr business so i mean one has
12:33to keep a track on that business otherwise in the past also tata motor was underperforming for many
12:39years it was one of the legard of tata group but once jlr started doing good covid and post covid and
12:44we have seen the kind of a unprecedented run-up in tata motor and likewise there was a correction of
12:5140 percent so i would say that anybody somebody who has to bank on has to bank on the jlr business because
12:56that's where the real valuation lies in and that's where their strength is so if that business is doing
13:02good i mean i i don't think so commercial vehicle should be a very uh fruitful business at this point of
13:07point in time i mean passenger vehicle and that too led by jlr so i think the uh the moving part is
13:14probably jlr and if that business is doing good then probably tata motors passenger vehicle business
13:19will do good okay fair point so that's the uh suggestion that you have viewers now you've identified
13:24where the opportunities can exist or in case you've been looking at this new development as a trigger
13:30point for you to look at both these companies as an opportunity as well but the earning season is
13:35also now gathering pace viewers which started off last week uh you know today we've also had anand
13:41rati wealth's uh earnings uh reaction that we have seen for the stock as well strong q2 earnings net
13:46profit jumping by 31 percent and aum at 91 568 odd crore rupees in fact we've had an exclusive earnings
13:53conversation uh which um my colleague shail bhattnagar has done with anand rati wealth's joint ceo
13:59as he has decoded the key drivers behind the strong earnings as well let's listen into what
14:04he had to say there are four legs of growth uh one is client's return increases my revenue if my
14:12clients make 10 return next year my earnings is automatically growing by 10 that's the first leg
14:17of great second is more clients per rm that also contributed significantly we hit the maximum number
14:23of clients you acquired in a month which was 200 we did that so the rate of client acquisition has gone
14:28up uh clients uh giving us more wallet share we don't force people to start big we tell them you
14:34you start with a crore as long as you have 10 crores to give us if we do our bit you will give us more
14:38money so penetration also played a very very key role new rms didn't play so much of a role because
14:44we didn't expand our team too much because we wanted to bite as much as we could chew so three
14:49cylinders out of four uh fired and that's where the 31 summed up to mr madan how are you assessing
14:56some of the earnings that have already come in we've had it majors and now anand rati wealth one
15:01of the early ones this stock has definitely been an outperformer wealth creator from the time it came
15:06out with the ipo and you know you were alluding to it that there are very few ipos that have actually
15:11done really well in the stock markets in the listed sphere and this is one of them as well
15:15how are you assessing some of the earnings that have come in anything that stood out for you
15:19not really i mean they're all in line with the expectation muted nothing exciting but at the
15:25same time the good part is i mean it is just a it's an onset of a season so i'm expecting that
15:30there should not be any accidents but talking about this wealth business so satya i mean now
15:36as far as market infrastructure stocks are concerned also i would say that there are now
15:40they should be further syndicated into two buckets which is i mean a broking led business and a wealth
15:46business so what we have seen in the past is i mean you see the reports of how many demat accounts
15:51are getting closed and all these discount brokerages i mean lax and lax accounts of getting
15:56inactive i mean that's because the uh the closure of that ban nifty expiries and virtually i mean after
16:03that the market correction i mean a lot of people are getting disillusioned by this direct trading of
16:09the market but at the same time the beneficiary of this is they don't want to leave the market they
16:14understand this market but then they start starting realizing that the skill set to take trade in
16:19derivatives and futures and action future and options market and probably being an active trader is a
16:26difficult task so that that AUM is being shifted towards mutual funds and probably PMS and wealth
16:33products so at the same time within the basket of market infrastructure stocks one segment probably
16:40is doing better and the other segment is uh struggling i mean you would have read the tweets
16:46which i mean zero that keeps coming out with that the kind of struggle everyone is facing so now that
16:53the again i mean the buzz is back about the closure of VP expiries i mean that is a something that's that is
16:59something a very i mean bad sword hanging on us whether they are to be closed or not to be closed or when
17:05to be closed or how to be closed or i mean the too much of speculation is happening and one media
17:10channel comes up with x report and another media channel comes up with a y report and then sebi
17:15comes and denies everything so i don't know what is happening on that but that will be one decisive
17:19thing sakshi going ahead which will decide the future of probably exchange and broking led stocks
17:26which is very important that i mean one should get clarity on that absolutely one must get clarity
17:31on this entire space and capital market stocks brokerages and amc is definitely in focus because
17:36of that let me also ask you on the it sector that started to report its numbers what's your sense
17:42here do you think there is some amount of green shoot that is visible at this stage we have seen
17:47already many quarters where the muted set of numbers have already come in this time around slightly
17:52better than expectations for both tcs and hcl tech on some parameters that we saw would this change
17:58in terms of how one has been looking at the it sector amidst all this underperformance will
18:03things start will the ball start to move again not really i mean as you rightly said slightly better
18:10and that slightly better is also because of the very muted expectations and price correction so again
18:16they'll probably i'm not saying that they'll go down but they'll be consolidating in this range only
18:22because now another disruption is ai how things pan out on ai front which companies are embracing it
18:28and converting it and using it and so it's a very difficult it's a it's a space which is very
18:34difficult to predict right now and there would be certain pockets which will emerge heroes out of it
18:40and and many of them will keep struggling also so how they shift their focus and probably are able to
18:46achieve through ai what is happening in the market but that's a very big disruption everyone is facing
18:51and uh the things we will all witness how it gets absolutely absolutely since you talk about ai and
18:57the new technologies what we are seeing today also viewers is that the biggest ever investment in south
19:03asia has taken place google has actually announced a 15 billion dollar investment in vishaka patnam this
19:08investment is planned jointly with adani connex and bharti et al this will be spread over five years google will
19:14set up a one gigawatt artificial intelligence data center in wisac and according to google the
19:21infrastructure will be the largest for its ai operations outside of the united states of america as well
19:27now state officials had earlier also estimated the investment at around 10 billion dollars for the one
19:31center one which is expected to generate around 1.9 lakh jobs as well and that's what is clearly in the focus right now
19:39it's the largest ai hub that we are going to be investing in anywhere in the world uh outside of the us
19:52it represents a capital investment over the next five years of 15 billion dollars
19:57and will scale to multiple gigawatts
20:10it is a part of a global network of ai centers in 12 different countries but it is as i said
20:17the largest one that we will be building anywhere in the world outside the us
20:22in addition to that we are also pleased that we will be making vishaka patnam a global connectivity hub
20:34we will house data locally to meet sovereign ai requirements we will bring our own models
20:42and by our own models gemini imagine veo and all of our models as well as our ai platform
20:51and the ability to build agents and applications with it so it's designed to provide a full ai
20:58you know infrastructure and it is designed to serve not just our own needs but the needs of entrepreneurs
21:07enterprises and commercial organizations here in india all right let's actually go across to mr
21:16madhan now since you've been talking about the entire ai-led disruption we're also seeing that
21:21india is also welcoming global tech giants to also expand their ai presence set up data centers back home
21:28this actually uh is a major shift that's taking place have you been assessing this as an also an
21:34opportunity for market participants as well as a theme that could be the next gen theme or the next five
21:40year 10 year kind of a theme that could emerge and therefore have you already started to put uh
21:45some amount of funds into this theme uh yes actually i mean this this theme will not i don't know about
21:52five ten years but next couple of years as for market perspective is concerned this will be the buzzword
21:57i mean it's a new kid on the block like couple of years back it was ev ev and then it was semiconductor
22:03so now it will be data center and ai so obviously the this is the buzzing sector and immediately
22:10for the next two years i think the data center stocks and probably these ai led stocks will perform
22:16well obviously at the end of the day the results will come after three years four years who will
22:22survive what will happen but i think next couple of years this is an exciting space to be in and
22:28and then definitely an opportunity once any key stocks that you are bullish on sir uh right now
22:35i mean because of compliance i won't be able to talk about stocks but as a sector i can certainly say
22:40the next two years could be buzzing and one should make use this opportunity instead of nursing the
22:45doubt because the first mover at one advantage one should never lose one should never lose all right
22:50one minute to go before the market start shop so we'll focus on the market closing bit now
22:55103 points lower in trade 25 121 uh you know at this point in time as far as the nifty is concerned
23:02all the sectors viewers have slipped into the red come under some pressure on the weekly options
23:07expiry of the nsc and you can actually see a 2.7 uptick for the india wicks as well which are the top
23:13movers well there are a handful of them about 10 odd stocks that are still holding up into the green at
23:18this point towards the end of the session uh we have max healthcare tech mahindra wipro from the it pack
23:24we also have apollo hospitals bajaj auto it's among all those stocks that are holding up among the
23:29top movers some banking names like icic bank maybe even hul that's holding up but a large part of the
23:35nifty stocks have actually slipped lower you have dr reddy's from the pharma pack bajaj finance bel from
23:41the defense pack trend you also have tcs and tata steel tata motors at least three of the stocks are from
23:47the tata group that are among the top 10 losers in trade at this point in time and there you go it's
23:53330 25 120 to 104 points lower in trade but we did have some uh movers from the nifty 500 basket as
24:01well today we had a lot of them uh you know up and about in momentum we had of course lg electronics
24:07the debut stock that ends uh the session with about 47 gains of course after the premium listing it did
24:14not go higher but it managed to hold on a large part of that move mtr tech also 11 higher landmark cars
24:20about 10 percent up ce infosystems continues with its up move another 10 odd move here kernex microsystems
24:27we also had names uh like websol vikram solar along all of these stocks that also pulled up into the
24:35trade as far as the nifty 500 movers are concerned but remember it's the diwali season and we are getting
24:40you uh top market masters also share their views for the new somewhat in our diwali special edition of
24:47market masters vijay kedia the md of kedia securities in an exclusive conversation with my
24:52colleagues are bhakaya and shell fatnagar revealed that the sectors is going to be betting big on in
24:58the new summer let's listen into that sectoral wise uh vijay structurally where do you see things
25:05shifting which are the themes that you're most optimistic about i personally feel now this this year
25:11tourism industry should do well in india because we are actually lagging behind people go abroad and
25:16today also i got i did some uh some article in his paper i don't know how many billions we are
25:21spending and going abroad and seeing that would put up building or year or so many things we are
25:27seeing i think india has everything india has got heritage also india has good beaches also india
25:33has desert also india greenery also india sparks also india is everything architecture also but the
25:40only problem india has that is the lack of infrastructure we do not have the uh good infrastructure
25:45good connectivity good hotel good hygiene and maybe the lack of marketing people don't understand
25:51their own heritage so this is what i feel now government is awakening and now government is
25:55connecting to three four days back i read somewhere that government is what you call uh making over
26:02or whatever they are doing some 13 1400 railway stations they are modernizing or something like
26:07this now connectivity of uh this uh airports uh are also uh rising so i think india has all these
26:16ingredients to become a tourist destinations not only from the domestic tablets from abroad as well
26:21so i think tourism industry has a good good future is a standardized industry if you ask me
26:26and so many companies will be benefited with maybe airport or maybe airlines and maybe hotels and but
26:34none of them are cheap let me tell you if you uh valuation by uh valuation why none of them are cheap
26:40you know because i usually have a tendency of investing in cheaper company like below 10 copy or
26:45chep copy so those things are not here so you have to take a call you have to take a risk if market will
26:52fall they will also fall so that is that's what tourism one thing i like and second thing i like hospital
26:57industry because the awareness is rising people now want to keep them themselves you know healthy
27:04and all people are understanding now by and by the value of good health so i think this and there is
27:11consolidation is also happening in hospital industry so many overseas people are coming and vcs are coming
27:19and investing in indian hospital industry so new technology will come and new money will come which
27:24will expand the capacity of the beds and all and technology so i think hospital industry should
27:30hospital industry should do well but again they are none of them are cheap all are quoting above 30 40 50p
27:37so that one has to take a call according to one's uh their own mental capacity all right that was mr
27:45vijay kharia let's go back to mr madan now mr madan vijay kharia is betting big on the tourism space are you
27:51also bullish uh like your friend is on this sector or are there other sectors that you're betting big
27:56on for the new summer yeah anything to do with i mean discretionary consumption we are positive on
28:02and i mean to add to what he said i mean we are bullish on these online retail portals also like
28:06eternal swiggy nika ptm and sakshi you will see i mean blink it started with one of the smallest small
28:14subsidiary kind of a stuff stuff and now it has become a part of our life and i mean it will become
28:19indispensable in the times to come so stuff like that so wherever there's an audience huge audience
28:24and they are very happy so those kind of platforms retail platform are the way to go so i mean these
28:29are the stocks one should accumulate hold with patience for a couple of years because they are
28:34there to remain probably expand become much bigger and you will not even realize that where the stock
28:39prices have gone i mean time flies something like that so can one still invest at these levels
28:45yes absolutely absolutely sakshi i mean anything as i said that all this eternal nika swiggy
28:51even pety i mean in spite of i mean uh all the controversies went down came up and uh people will
28:58keep nursing their doubts that whether it is a right to invest because it is already up eternal
29:02is already up as long as you're doubting you're missing the bus so somewhere you have to take a plan
29:06and i would say these are the stocks you can you can tang i mean they're tangibly you can see what is
29:11happening i mean how how penetrated i mean into our lives and become indispensable so these are
29:17no-brainers i mean obviously as he rightly said things will be expensive and but uh they'll continue
29:22to be expensive fantastic thank you so much mr madan for being with us happy diwali to you and that's a
29:27wrap viewers on the business today's show and in case you too have any questions about the investments
29:32that you have in stocks or gold or in mutual funds then send them to us on the number flashing on
29:37your screens and don't forget to catch the market opening action tomorrow morning at 9 a.m with ababa kaya
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