- 2 weeks ago
Markets may not hit 26,000 in the near term and the action will be more stock-specific, believes the expert.
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NewsTranscript
00:00It's the battle of Bihar heating up even further.
00:03We'll continue to get you more updates from the state of Polva and Bihar and much more news for the moment.
00:08I'm going straight across to my colleague Sakshi Batra from Business Today Television.
00:12She has, as always, all the updates of the markets.
00:15Over to you, Sakshi.
00:30Hello and good afternoon and welcome to the Market Closing Show.
00:37This is our brand new collab show between Business Today and India Today Television.
00:40It's 3 p.m. We're here to get you all the market closing action.
00:44First up, let's take a look at what's hot in the corporate and the financial space.
00:52After two days of losses, markets recover from the day's lows.
00:55Since it's flat near 83,350, the Nifty is up by 20 points at 25,500.
01:02Metals lead the gains while PSU banks and financial stocks buzz after.
01:06Finance Minister hints at possible PSU banks' merger.
01:10Also, Nifty is still 200 points lower this week.
01:18Auto industry logs its best-ever festive season
01:22with retail sales jumping 40% on a year-on-year basis
01:26to nearly 40 lakh units in October.
01:30Festive demand, GST 2.0 rollout and rural recovery
01:34powered the surge.
01:36Led by two-wheelers that are up 52%
01:38while passenger vehicle sales rose 11%.
01:41L.I. Lilly's anti-obesity and diabetes drug Monjaro surges.
01:51It is now India's number one pharma brand by value in October.
01:55Monjaro hits Rs. 100 crore in monthly sales
01:58as it overtakes GSK's antibiotic Augmentin
02:02just seven months after launch.
02:04The IPO action heats up on Dalal Street.
02:12Fine Labs' Rs. 3,900 crore IPO opens for subscription
02:16with a price span of 210 to Rs. 221 per share
02:19and is subscribed about 12% so far on day one.
02:23Meanwhile, Gro's Rs. 6,600 crore IPO still open on its final day
02:28is subscribed nearly 10 times.
02:34The Supreme Court will hear the plea filed
02:38by the father of Air India AI-171 pilot
02:42Captain Sumit Sabarwal
02:43seeking an independent probe into the June 12th Ahmedabad crash.
02:47The bench noted the preliminary report
02:50does not blame the pilot.
03:04Let's straight away look at how the stock markets are trading
03:07at the last half an hour in trade.
03:09Well, we are better off than what we had started off the day with.
03:12We are at the near high point of the day.
03:15You can see one-tenth percent of a loss.
03:17But despite that, we have actually recovered
03:19from lows of nearly 25,320 and thereabouts.
03:23Right now at 25,479, what's pulled up in trade?
03:27It's the metal stocks that are shining bright,
03:29the top-moving sector.
03:31Look at the banks, especially led by the PSU Bank,
03:33that are also supporting the rally in trade.
03:36Also, financial services, autos have also driven the sentiment up.
03:40We're also looking at the mid and the small caps
03:43as the stocks have also recovered from the day's low.
03:46What continues to be under pressure?
03:48IT stocks, pharma stocks, FMCG, real estate, infrastructure stocks.
03:54These are the sectors that have actually continued
03:56to reel under some pressure.
03:58On the nifty, what are the top gainers
04:00as we inch closer to the end of the session
04:02and this trading week?
04:04Tridham Finance, 3.5% up in trade.
04:07Top mover.
04:08Adani Enterprises, Bajaj Finance, Tata Steel, M&M
04:11as all the stocks that are up and about in trade.
04:14On the lower end, you have Bharti Airtel,
04:16Tata Consumer Products, Indigo, Apollo Hospitals,
04:19Tech Mahindra, about 2% lower each
04:21for all of these stocks in trade as of now.
04:24You're also looking at some PSU buzz among BPCL, NMDC, BHEL
04:29as all the stocks that are still continuing
04:31to be hovering higher in trade.
04:34So that's the opening action.
04:35But let's quickly look at welcoming our guest.
04:38Mr. Avinash Korakshaka, market expert,
04:40is now joining in to share with us
04:42his opening comments on the markets
04:43and of course sharing with us an outlook
04:46going forward from here.
04:47Welcome to you, Avinash.
04:48Good to have you with us.
04:50Well, slowly and gradually inching up in trade.
04:52Any suggestion, any indication
04:55that we are slowly and gradually coming out
04:57of this lackluster week?
05:00Yeah, I think good afternoon, Sakshi.
05:02I think particularly, you know,
05:04the market has seen a good bounce back
05:06from the morning session.
05:07Yesterday, you know, I think the key reason
05:09for markets to open week today morning
05:11was the sell-off in the US markets
05:14largely on the AI stocks and the technology stocks.
05:17So I think markets have now bounced back
05:19considering the fact that, you know,
05:21I think in India, there are very few companies
05:23which are in pure traditional intelligence
05:26kind of segment.
05:27And I think, you know, the quantity numbers
05:29which have come out,
05:30which I've been pointing out on your shows regularly,
05:32that these have been much better
05:33than what the street expectations are.
05:36And hopefully, you know,
05:37I think the primary market issue,
05:39you know, pipeline gets a little,
05:40you know, slower.
05:42Because, you know, this month
05:43is also going to be a very hectic issue.
05:44So there's a lot of supply of new paper
05:46in the market.
05:48And that actually also is leading to a lot of pressure
05:50on the secondary market side.
05:52So I think the bounce back is very positive.
05:54I think it means that there's been
05:55a lot of value buying today,
05:57especially in stocks like autos,
05:59auto conference, capital goods.
06:01I think on the negative side,
06:02you've been setting some pressure
06:03on the IT company side.
06:05Largely because, you know,
06:06there have been some concerns
06:07that whether the US-India trading
06:09happens this month or next month.
06:11And mostly, you know,
06:12most of these stocks were actually
06:13rated highly up to the 2-2 numbers.
06:16So I think nothing to worry fundamentally there.
06:18There's some sort of profit
06:19looking happening there.
06:20So I think next that, you know,
06:21you need to take a stock-specific one.
06:24I think broadly,
06:24the index is not going to see
06:2626,000 immediately.
06:27I think you would see the market
06:29in a very small way.
06:30And considering the fact that now,
06:32typically next week is also
06:33going to be a result heavy week.
06:35You'll see more action, you know,
06:36on a stock-specific basis.
06:38Okay.
06:39Since you started talking about
06:41the IPO space, Avinash,
06:42have you been looking at
06:43any IPO closely?
06:45Have you looked at it
06:46as a positive opportunity?
06:48Or do you think most IPOs are actually,
06:51you know, as the buzz in the town is,
06:53you know, coming at lofty valuations
06:56and one needs to give them time?
06:58We've seen Studs IPO make a,
07:00you know, just about muted debut.
07:02Today, Pine Labs has just got off
07:04to a slow start in terms of subscription.
07:07Grow, in fact, has got a good demand.
07:09And there, we've also seen
07:10huge subscriptions
07:11for the recently closed Lenskart.
07:14Any IPO that comes to your mind
07:15that you would want to believe
07:17as an opportunity
07:18that you would like to track?
07:21I think two IPOs that you mentioned,
07:24Sakshi, one is Grow
07:25and second is MoneyLens.
07:26See, Grow has been looking at,
07:29you know, looking at the kind of response
07:31and the kind of opportunity
07:32in the online working space.
07:34The management here clearly
07:36does not want to remain only a broker.
07:37They want to get into wealth management
07:39and entire, you know,
07:41financial services space.
07:42So this will be an interesting bet.
07:44And I think despite the fact
07:45that capital markets are down,
07:47you know, I think they've done something
07:49as good or much better than zero
07:51which is not listed.
07:52So I think this would be
07:53an encouraging kind of,
07:54you know, company to watch out
07:55post-listing.
07:56And of course, FineLabs
07:57which is into the POS category.
07:59I think this is also a FinTech company
08:01and I think looking at
08:01a kind of opportunity in FinTech,
08:03FineLabs is also something
08:05which can look at,
08:06you know, from a longer term perspective.
08:07So I think, you know,
08:08we have been telling our clients
08:09to look at these two companies.
08:10I think as far as Lenskart is concerned,
08:12we would expect the same
08:13lukewarm listing, you know,
08:15for this company.
08:16But thereafter, I think we'll have to see
08:17how the company performed
08:18on the numbers, you know,
08:19because typically the management commentary,
08:22the financials,
08:22I think these will be things
08:23which will be very actively
08:24tracked for Lenskart.
08:26Absolutely.
08:27Let's now shift focus
08:29to the pharma space.
08:30There's enough and more buzz there,
08:32especially in India's
08:33weight loss drug market
08:35which is heating up
08:36and heating up fast.
08:37L.I. Lilly's blockbuster therapy,
08:39Munjaro, has now surged
08:41to number one spot,
08:43clocking 100 crore rupees
08:45in October in sales.
08:46Also, over 333 crores
08:49as far as since debut
08:51in March is concerned.
08:53The demand for metabolic
08:54and diabetes treatment
08:56is also rising sharply
08:57and competition is now intensifying
08:59with Novo Nordisk's
09:01Ozempic getting approval
09:02and Vigobi already
09:04in the market as well.
09:05To break down
09:06what's driving this rapid uptake
09:08and the big pharma battle
09:09shaping up,
09:10let's actually go across
09:11to my colleague,
09:12Neetu Chandra.
09:13Neetu,
09:13what's driving the Sharps rally
09:15within just seven months
09:17of the launch
09:18for L.I. Lilly?
09:20So, yes, Sakshi,
09:22L.I. Lilly's Munjaro
09:23has emerged
09:24as the top selling brand
09:25in the Indian pharmaceutical market
09:27and this has clogged
09:28nearly 100 crore
09:30in sales in October alone.
09:32So, since its launch
09:33in the March of 2025,
09:34the brand has already crossed
09:36rupees 333 crore
09:38in cumulative revenue
09:39which is extraordinary
09:40for such a short span.
09:42So, the growth
09:43has been driven primarily
09:44by rapid adoption
09:46in diabetes
09:46and obesity management.
09:48Areas where Indian specialists
09:49are increasingly shifting
09:51to newer generation drugs
09:53like GLP-1
09:54and dual GLP
09:55and GIP agonists
09:57which L.I. Lilly's Munjaro is.
09:59These drugs
10:00don't just control blood sugar
10:01but they also address
10:02weight reduction
10:03making them highly attractive
10:05to both physicians
10:06and patients.
10:07So, additionally,
10:08if you look at the pricing,
10:10the premium pricing
10:11and the early acceptance
10:12in metros
10:13has actually fueled
10:14its strong value growth
10:16even with limited volumes.
10:18So, Munjaro's success
10:19also shows
10:19that there's a changing trend
10:21in the Indian market
10:22where innovative
10:23science-driven therapies
10:24are breaking through
10:25in which
10:25one's generics-dominated space
10:27it used to be,
10:28Bakshi.
10:29Right, so, Neetu,
10:30while Munjaro leads the charge,
10:32Novo Nordisk's
10:32obesity therapy,
10:33Vigobi,
10:34is also gaining visibility globally.
10:36What's the outlook
10:36for the space in India
10:38and can Vigobi
10:39really challenge
10:39Munjaro's momentum?
10:42Yeah, now,
10:43that's the key question.
10:45While the pharma track data
10:46confirms Munjaro's
10:47dominance in India,
10:49the next competitive phase
10:50will be defined
10:51by Novo Nordisk,
10:52Vigobi,
10:52which is semaglutide,
10:54which has reshaped
10:55obesity care worldwide.
10:57So, Vigobi targets
10:58the same patient group
10:59as Munjaro,
11:00those struggling
11:01with diabetes
11:02and obesity
11:02but with a different
11:03molecular pathway
11:04and strong
11:05global outcomes data
11:06which is backed
11:08by a better data.
11:09But in India,
11:10Vigobi's entry
11:11has been slower
11:12mainly due to
11:13supply constraints
11:14and its import-linked pricing
11:16but awareness
11:16among specialists
11:17and urban consumers
11:19is growing rapidly.
11:20It's very fast
11:21and as access expands,
11:23it could open up
11:24a new therapeutic category
11:25in the country
11:26where like obesity treatment
11:28beyond diabetes.
11:30Absolutely.
11:31However,
11:31LIL has the early
11:33mover advantage
11:34with Munjaro,
11:35a brand that already
11:36commands trust against
11:38among the endocrinologists
11:39but if Vigobi
11:41enters in larger volumes
11:43and price points
11:44are rationalized,
11:45we could see
11:46both the brands
11:46driving double-digit growth
11:48in the anti-diabetic
11:49and metabolic disorder segment.
11:51So,
11:51this is one of the
11:52fastest-growing therapy
11:53areas in Indian
11:54pharmaceutical market today
11:55and that becomes
11:57very important
11:57for the obese population
11:59which is increasing
12:00in a country like India.
12:03that is there,
12:05Sakshi.
12:06Absolutely.
12:07Thanks a lot for that,
12:08Neetu.
12:09On that front,
12:10we will continue
12:10to watch out for
12:11how the competition
12:12is intensifying there.
12:13Remember, viewers,
12:14we are also going to be
12:15focusing on the earnings front
12:17as far as pharma companies
12:19are concerned.
12:20Pharma company Lupin
12:21has reported stellar performance
12:22this quarter.
12:23The company's net profit
12:24has jumped 73% year-on-year
12:25to now 1,478 crore rupees.
12:28This is largely driven
12:29by the strong growth
12:30in US market
12:31and higher sales
12:32in complex respiratory products
12:34as well.
12:34Revenues have also jumped
12:35by 24%,
12:36reflecting steady traction
12:38across geographies.
12:39In fact,
12:39the management now
12:40remains optimistic
12:41about the coming quarters,
12:43backed by its robust
12:44product pipeline
12:45and focus on
12:46high-value therapies as well.
12:47Earlier,
12:48Neetu Chandra also spoke
12:49to Ramesh S.,
12:50Executive Director
12:51and Global CFO
12:53on the outlook for FI26.
12:54Let's listen in
12:55to what he had to say.
12:57When you speak
12:58about the US business,
13:00what has changed
13:01for Lupin
13:01in this particular market?
13:03Because numbers
13:04are showing really great.
13:07No,
13:07I think it's just
13:08a progression
13:08of the last several quarters,
13:11so to speak.
13:12We have been,
13:12the last several quarters,
13:14we've been focusing
13:15on delivering
13:15on the respiratory portfolio
13:17and pretty complex products.
13:20So essentially,
13:21we began with Albutrol,
13:22then followed up
13:23with Spiriva.
13:25We also had,
13:26in the last few quarters,
13:28in fact,
13:28products like Mirror Big Ron
13:30and this particular quarter
13:31ramping up of 12 often.
13:33So it's clearly
13:34because of our focus
13:35on, in fact,
13:36delivering big hitters,
13:38which bring in value.
13:40That's actually contributed
13:41tremendously
13:42to the ramp up
13:43of the sales in America.
13:45So when we look
13:46at the India market,
13:47there's been
13:48a modest growth.
13:50So what is holding back
13:51the domestic business
13:52and what's your strategy
13:53to revive momentum
13:54in this particular market?
13:57I wouldn't call it
13:58actually a modest growth
13:59because I think
14:00it's about the industry figure,
14:01so to speak.
14:02You know,
14:02the industry is about 7.2 odd
14:04and we have been doing
14:05about 8.8.
14:06So clearly,
14:06it's much about the industry.
14:09It's on the back of,
14:10in fact,
14:11a five-prong strategy for me.
14:12The first is,
14:13of course,
14:14more feet on the ground
14:15accompanied by,
14:16in fact,
14:17productivity gains as well.
14:18Second is having,
14:19in fact,
14:19a robust portfolio
14:20of products,
14:21part of it,
14:22which is in license,
14:23but a chunk
14:24which is actually brought
14:25in from our own stable.
14:27Case in point
14:28is, in fact,
14:29the triple-duck combination
14:30that we brought in,
14:31you know,
14:31LABA, LAMA,
14:32ICDS combination.
14:33The fourth is
14:34looking at judicious,
14:35you know,
14:36MN days from time to time.
14:38So all of this
14:39have contributed,
14:40you know,
14:40and of course,
14:41accompanied by
14:42sophistication
14:43in terms of
14:43a technology pack.
14:45So it's clearly,
14:46you know,
14:46a patient-centric approach
14:47that we have followed
14:48in India,
14:49which has actually helped
14:50in growing the business
14:51over the last several years.
14:53And clearly,
14:54that's going to be the focus
14:55for the years to come as well.
14:57I would like to ask you,
14:57what is the outlook
14:58of the company
14:59in the next quarters
15:00and coming years?
15:01And are you also looking
15:03for expansion
15:03in portfolio?
15:05Clearly,
15:06we are pretty bullish
15:06about the future
15:07with the kind of products
15:09that you're building up.
15:09the focus on,
15:11you know,
15:12delivering value
15:13through respiratory portfolio,
15:14complex injectables,
15:16the biosimilars
15:16and the like,
15:17apart from speciality.
15:19I'm not sure
15:20what you mean by saying
15:21diversifying
15:22our therapy focus.
15:24Clearly,
15:25speciality is of interest
15:26to us.
15:27But,
15:27you know,
15:28so we just got into
15:29ophthalmology
15:30through a buy
15:30in Europe.
15:32And clearly,
15:33we would be looking
15:34at supplementing that
15:35through further acquisitions.
15:37All right,
15:38let's go across
15:38to our guest now,
15:40Avinash,
15:40who's with us.
15:41Avinash,
15:42how have you assessed
15:43the entire pharma story
15:45thus far?
15:46On the one hand,
15:47the earnings are coming in
15:49for some of these
15:50large cap companies.
15:51How are they panning out?
15:53Of course,
15:53apart from this,
15:54the entire buzz
15:55around growing sales
15:57of the anti-obesity drugs,
16:01keeping all these
16:01foreign-owned companies
16:03in the limelight.
16:04There are so many
16:05Indian-owned companies
16:06that are dealing
16:08with distribution
16:09as far as
16:10these anti-obesity drugs
16:11as well are concerned.
16:12So,
16:13are they also reaping
16:14the benefits there?
16:15How are you looking
16:15at the entire sector?
16:18I think,
16:19Sakshi,
16:20if you look at
16:20the numbers from Lupin,
16:21I think one major
16:22trigger point
16:23has been the
16:24strong growth
16:25in the US market
16:26and other emerging markets.
16:27And I think,
16:28you know,
16:28if you look at
16:29EBITDA margins
16:30and the kind of commentary
16:31given by the Lupin management,
16:33it very clearly indicates
16:34that the second half
16:35is equally going to be better
16:36or significantly,
16:38you know,
16:38stronger
16:39in terms of both
16:40top-line
16:41as well as profits.
16:41And I think
16:42this is definitely
16:43a good sign
16:43because after a very long period,
16:45you know,
16:46pharma companies operate
16:47in a very strict
16:48regulatory environment.
16:49So,
16:49this is definitely
16:50a good sign.
16:51Other companies
16:51which should do well
16:52are typically companies
16:53like Sun Pharma
16:54or typically
16:55even Dr. Redis,
16:57you know,
16:57because our sense is that
16:58the US market
16:59now presents
17:00a big opportunity
17:01and despite
17:01the tariff threat,
17:03fortunately,
17:04you know,
17:04this sector
17:05has not been touched
17:05by the US government.
17:07But my sense is
17:08typically,
17:09you know,
17:09the US market
17:10is slowly recovering.
17:11It is giving chances
17:12to most of the Indian
17:13well-established
17:14pharma companies
17:15to scale up
17:15their operations.
17:16So,
17:16I think for investors,
17:17one should definitely
17:18use this opportunity
17:19to accumulate,
17:20you know,
17:20these kind of
17:21large cap companies.
17:22Our sense is that
17:22you will probably see
17:23a very strong
17:24FY26
17:25via the second half number
17:26and 27 should also be good
17:28because several companies
17:30are now in the process
17:30of launching new drugs
17:32and molecules
17:32and which I think
17:33should obviously
17:34materialize in the
17:35coming 12 to 15 months.
17:36So,
17:36I think net-net
17:36structurally,
17:37we are very positive here.
17:39Okay,
17:39got that.
17:40So,
17:40from the pharma story,
17:41we are actually
17:42moving forward
17:43and trying to understand
17:44what's happening
17:45on the aviation space.
17:46Remember,
17:46this morning,
17:47we started to tell you
17:48in our breaking coverage
17:49that chaos is continuing
17:50at Delhi's
17:51Intra Gandhi International Airport
17:53after major technical
17:54snag crippled ATC,
17:56that's the air traffic
17:57control system,
17:57disrupting flight operations
17:59and impacting
18:00over 300 flights now.
18:02With the system down,
18:03controllers have now
18:04switched to manual processing
18:05of flight plans,
18:06leading to widespread delays
18:07and congestion as well.
18:09In fact,
18:09airlines have now reported
18:10multiple flight disruptions
18:12with passengers facing
18:14long waits,
18:15both inside terminals
18:16and on grounded aircraft
18:18as well.
18:19The Delhi Airport Management,
18:21in coordination with
18:22the Airport Authority
18:23of India and DIAL,
18:25has indicated that
18:26technical teams are
18:27working around the clock
18:28to restore normal operations
18:29at the earliest.
18:30For more on this,
18:31we are now joined
18:32by my colleague Karishma Sudhani
18:33who tracks this very,
18:34very closely.
18:35Karishma,
18:36what's the update now?
18:37We're given to understand
18:38delays across 300 flights,
18:40etc.
18:41Now,
18:41what is the time duration?
18:42It was 53 minutes
18:43when we had checked
18:44in the morning with you.
18:45What is the situation
18:46on ground as of now?
18:47Sakshi,
18:49if we go by data
18:50from flight radar,
18:52then it's a 55-minute
18:53departure delay
18:54and a 40-minute arrival delay
18:55that we are currently
18:56looking at.
18:57More than 300 flights
18:59have been impacted
19:00since morning
19:01and this has caused
19:03a lot of chaos
19:05when it comes
19:05to on-ground handling
19:06because,
19:07Sakshi,
19:07if we look at this,
19:08if there are delays
19:09in departure,
19:09which means that
19:10most of the parking slots
19:12which actually have
19:13a prescribed time limit
19:14are occupied
19:15by these delays
19:17and that does not let
19:18the arrivals also happen
19:19on time
19:19and the further flights
19:21to take on time.
19:21So,
19:22a lot of airlines
19:22are planning to cancel
19:23their evening flights
19:24post 6 p.m.
19:25and passengers
19:26have also been instructed
19:27to recheck
19:28and if it is not
19:29an urgent travel
19:30then they've been asked
19:31to reschedule their tickets
19:32especially with the elderly
19:33passengers
19:33and families
19:35with infants.
19:36Now,
19:36technically what has
19:37gone wrong
19:38is that there has been
19:39an error with the
19:39automatic message
19:41switching system
19:42which is ideally
19:42responsible for
19:44all the weather report
19:45data
19:45and informing
19:46maintaining communication
19:47between the ATS,
19:49ATCs
19:49and informing them
19:51on the departure
19:52and arrival plan.
19:54Okay,
19:54thanks a lot
19:55Karishma for all that.
19:56Keep an eye out
19:57on all those developments,
19:58important coverage
19:59for all those consumers
20:00who have been planning
20:01to fly in and out of Delhi.
20:03This is news
20:04that is clearly
20:05impacting you
20:06but we hope
20:07that normalcy returns
20:09to the ATC
20:10in terms of operations
20:11as well.
20:12Let's go back
20:12to Avinash.
20:13Avinash,
20:14what else is really
20:15ticking positively
20:16in the markets?
20:17Where do you think
20:18your focus is?
20:19We are already
20:20seeing a slight attempt
20:22from the markets
20:22to go back
20:23above 25,500.
20:25Volatility is still there
20:26but what is keeping
20:28you busy
20:28in terms of
20:29opportunities
20:30and scouting
20:30for them?
20:33I think
20:33within the
20:34opportunities
20:35bracket,
20:37I think banks
20:37are looking interesting.
20:38I think
20:39public sector banks
20:40still continue
20:41to be very attractive
20:42if one looks
20:43at the kind
20:43of credit growth
20:44which is going
20:45to happen
20:45in the third
20:46and the fourth quarter.
20:47I think
20:47GST number
20:49for October
20:50was a pleasant surprise
20:51despite the cuts
20:52in GST
20:52but I think
20:53overall the PSU banks
20:55are now all ready
20:55to disburse credit
20:56and I think
20:57you will see
20:57a big bump up
20:58in the numbers
20:59for most of
20:59the public sector banks
21:01specifically
21:01the larger banks
21:03like Bank of Aruda,
21:04Canara Bank,
21:04SBI.
21:06Numbers have been
21:06very reassuring
21:07and I think
21:07the second half
21:08is typically
21:09a busy season
21:09period for the banks
21:10so I think
21:11you could expect
21:11a good amount
21:12of traction
21:13in the third quarter
21:14as well as
21:14the fourth quarter
21:15and of course
21:16other specific
21:17segments like
21:18the hospital stocks,
21:20hospitality stocks
21:21these are sectors
21:22where I think
21:22you are going to see
21:23a secular growth story
21:24although Indian hotels
21:25reported a slightly
21:26disappointing performance
21:27the commentary
21:28for the second half
21:29has been very solid
21:29they expect a very
21:31strong traction
21:31in the second half
21:32so I think
21:32hospitality and hospitals
21:34Apollo hospitals
21:35reported a very
21:36strong number
21:37and I think
21:37you could see
21:37the performance
21:38getting repeated
21:39or getting better
21:40in the second half
21:41so I think
21:41investors should
21:42use such opportunities
21:43when the market
21:44corrects for whatever
21:45reason
21:45to accumulate
21:47these stocks
21:47either in lump sum
21:48or SIP
21:48because our sense
21:50is that
21:50FI27 now looks
21:51a little stronger
21:52and once you get
21:53the December quarter
21:53numbers
21:54you will probably
21:55see that
21:55I think
21:56the confidence
21:57in the markets
21:57will come back
21:58and surely
21:58I think
21:59if not immediately
22:00but at least
22:00in the medium term
22:0126,000
22:02looks very much
22:03possible
22:03maybe it will
22:03take some time
22:04but looks
22:05very much
22:05possible
22:06okay
22:06you know
22:07I wanted to
22:07also ask you
22:08on the mid
22:08and the small
22:09cap spaces
22:10that are still
22:11continuing to be
22:12a lot more
22:12volatile than
22:13the large cap
22:13story at this
22:14point in time
22:15how are you
22:16advising clients
22:16on their approach
22:17towards the mid
22:18and the small
22:19cap since a
22:19large part of
22:20retail investors
22:21portfolios are
22:22filled with a lot
22:23of mid and
22:23small cap names
22:24and even their
22:25exposure towards
22:26mutual funds
22:27is also largely
22:28driven by these
22:29two sectors
22:30but they have
22:30largely underperformed
22:31the large caps
22:32is there any
22:33sign of their
22:34turning red
22:35or turning green
22:36no I think
22:38see probably
22:39you'll see
22:40this happening
22:40from the
22:41December quarter
22:42because you know
22:42typically within
22:43the small cap
22:44and the mid cap
22:45space I think
22:45we have seen
22:46some recovery
22:47happening compared
22:47to the quarter
22:48one and I think
22:49you know you're
22:49right in saying
22:50most of the
22:50retail investors
22:51either have
22:52invested in
22:52mutual funds
22:53which represent
22:54the small cap
22:55and the you know
22:55mid cap kind
22:56of category of
22:57stocks and
22:57these stocks
22:58typically take
22:58some time
22:59you know initially
22:59the large caps
23:00start moving
23:01and once large
23:02caps
23:02get
23:03value
23:06and the
23:07second best
23:08working the
23:09mid cap
23:09and the
23:09small cap
23:10space
23:10so I think
23:11definitely
23:11worthwhile
23:12you know
23:12accumulating
23:12now but
23:13for the
23:13longer
23:13time
23:14absolutely
23:15Avinash
23:15thank you
23:15so much
23:16for being
23:16with us
23:16on the
23:17program
23:17today
23:17and for
23:18sharing
23:18all those
23:19wonderful
23:19insights
23:19that you
23:20always do
23:20with all
23:21our viewers
23:21with that
23:21viewers
23:22it's a wrap
23:22on the
23:23business
23:23today's
23:23show
23:24but don't
23:25forget
23:25to catch
23:26up
23:26Monday
23:26morning
23:27opening
23:28action
23:28with
23:28Abba Baka
23:29at 9am
23:29for
23:30business
23:30today's
23:31show
23:31you
23:33you
23:33you
23:35you
23:37you
23:38you
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