PSU THEME
ET Alpha Wealth Summit Masterclass | 'When you zoom out, things look very good;" Vikas Khemani on the India story every investor needs to hear now
India has built a strong foundation for growth over the past decade, according to Vikas Khemani of Carnelian Asset Management. He highlighted robust digital and physical infrastructure, alongside regulatory reforms. With a young demographic and a diversified economy, India is poised for significant wealth creation, particularly in manufacturing, financials, consumption, services, and infrastructure over the next decade.
Sectoral and thematic fund inflows plunge 67% to Rs 647 crore. Are investors turning away from thematic bets?
Sectoral and thematic mutual fund inflows saw a significant drop in May, falling by 67%. This decline suggests investors are moving away from concentrated bets towards diversified strategies. Experts believe this trend reflects a natural shift during market uncertainty. While some sectors show strong performance, others lag, making sector selection challenging.
Full impact of inflation not yet in earnings; may reflect next quarter, warns Unmesh Sharma
HDFC Securities' Unmesh Sharma anticipates the full impact of inflation on corporate earnings will surface in the June quarter, potentially compressing consumer wallets and eroding pricing power. He highlights monsoon and the Ukraine war as key risks that could lead to single-digit earnings growth, revising the firm's full-year estimate to 10-11%.
AI threat overblown: Why Invesco’s Hiten Jain is doubling down on IT stocks
Invesco Mutual Fund's Hiten Jain offers a contrarian view, identifying the tech rout as a significant buying opportunity and dismissing broad PSU rallies. He highlights smart money's movement towards large-cap financials and IT services, anticipating earnings growth driven by credit expansion and AI adoption.
US economy remains strong, India must accelerate reforms and AI adoption: Ajay Srivastava
Market veteran Ajay Srivastava highlights the U.S. economy's robust performance, contrasting it with Indian investors' perceptions. He emphasizes the global economy's resilience despite geopolitical tensions and urges India to focus on its own economic development and embrace global diversification, particularly in AI adoption.
Is India's 1991 economic model dead? Why 'reforms' aren't enough & the state must step in
India faces economic headwinds from global events and domestic investor wariness. The traditional reform model is no longer sufficient. Strategic sectors like energy and green tech need state intervention. This involves public investment and risk absorption. New models can emerge, moving beyond past PSU issues. Intelligent state intervention is key for industrialization and competition.
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Indian market at 11% discount to long-term average; Anshul Saigal says it's a buyer's market for 3–5 year investors
Market confusion presents a rare chance for patient investors. Anshul Saigal believes current valuations offer significant gains for those buying over the next three to five years. Earnings slowdown is seen as temporary, with reacceleration expected. India's long-term growth story remains strong, with opportunities in AI data centres, energy transition, PSU banks, and housing finance.
Markets poised for a positive run if geopolitical risks ease: Ambareesh Baliga
Market veteran Ambareesh Baliga sees Indian equities well-positioned if geopolitical tensions ease and macro conditions remain supportive. He highlights potential for a US-Iran accord, resilient corporate expectations, and a normal monsoon as key drivers for a positive medium-term outlook, especially for metals and private banks.
India's households lose Rs 12.6 lakh crore in brutal Q4 equity selloff as FIIs flee
The report said the ownership gap between individuals and FPIs has reversed sharply over the last decade. "In March 2014, the gap stood at 11 percentage points in favour of FPIs. It has now reversed to 2.9 percentage points in favour of individuals."
Rupee can hit 100, balance of payments already under stress: Diviya Nagarajan, UBS
India faces mounting economic challenges, with UBS warning of a potential rupee slide to 100 and a $50 billion balance of payments stress. GDP growth could dip to 5.5% in a worst-case scenario, while earnings outlook remains uncertain. Banks are better positioned, but power and renewables offer a bright spot.
JP Morgan warns of FY27 earnings risk, says Nifty can fall to 20,500 in bear case
JP Morgan has cautioned that India’s FY27 earnings face significant risks from an extended energy and logistics shock linked to the Middle East conflict. The brokerage warned that the Nifty50 could slip to 20,500 in a bear case, even as it maintains a 27,000 base-case target amid fragile macro signals.
Rural India, agro chemicals, and value retail: Where Aniruddha Naha is putting money to work
Aniruddha Naha of PGIM India sees opportunity in rural India's revival. He advises investors to build portfolios now for a stronger FY28. Naha is avoiding lenders and infrastructure sectors. He believes mid and smallcaps show resilience. The next two quarters may be challenging for earnings. However, clarity on global events could boost markets for FY28.
ETMarkets PMS Talk | From Rs 1 crore to Rs 85 crore in 24 years - the power of high-conviction investing, says Alok Agarwal
Alchemy Capital Management's Alok Agarwal highlights how a high-conviction, benchmark-agnostic approach has yielded extraordinary long-term wealth. A ₹1 crore investment in 2002 grew to ₹85 crore by April 2026, significantly outperforming the BSE 500 TRI. The strategy focuses on identifying structural growth themes and maintaining disciplined exits, proving its mettle over 24 years.
Gold stocks still overvalued despite market correction: Aditya Shah
Indian markets experienced volatility as geopolitical tensions and rising fuel prices fueled investor caution, leading to a shift towards defensive sectors. Despite near-term range-bound trading, long-term opportunities are seen in select sectors, though gold stocks and capital goods face valuation concerns.
Sectoral & thematic mutual funds see decline of 28% in monthly inflows in April. Are investors turning cautious?
Sectoral and thematic mutual fund inflows dropped 28% in April, raising investor caution. Experts suggest this trend reflects investors chasing hot themes and then moving on. While some sectors like defence and manufacturing show continued interest, diversified funds are recommended for long-term stability. SIPs in these funds can be continued with controlled exposure.
2026 market turmoil? These 10 classic investing rules still hold the key
Bob Farrell's investing rules remain relevant today. Markets revert to the mean and excesses lead to opposite extremes. There are no new eras, and sharp rises lead to sharp corrections. The crowd often gets it wrong at extremes, driven by fear and greed. Strong markets are broad-based, and bear markets have phases.
Nifty headed to 29,000–30,000 by Aug-Sept 2026, crude crash to $64 will be the catalyst: Jai Bala
A leading chart analyst predicts Indian stocks will reach new heights by late 2026. This optimistic outlook hinges on a significant drop in crude oil prices. Falling oil is expected to reduce inflation and geopolitical risks, boosting markets. Key sectors like Capital Goods and Realty are highlighted for potential gains, while FMCG is advised against.
Market in consolidation phase, break above 24,600 crucial for trend shift: Gautam Shah
Indian stock markets are seeing a shift. Leadership is narrowing, with energy, PSU, metals, real estate, and pharma sectors poised for growth. The auto sector faces pressure. Broader indices may consolidate. Investors should focus on specific sectors and companies with clear earnings visibility for the next three to five years.
Coal India, CESC and other power stocks: JM Financial analyst explains impact of Bengal elections
JM Financial views the West Bengal election outcome as a potential boost for power sector governance, driven by expectations of reform under a BJP-led government. While this could create headwinds for CESC, it may benefit Coal India and other central utilities
BHEL shares jump 3%, rally 10% in two days after Q4 results. What Morgan Stanley, other brokerages say
Bharat Heavy Electricals (BHEL) share price surged over 10% in two days following robust Q4 FY26 earnings, with net profit soaring 156% year-on-year. The company also recommended a final dividend of Rs 1.40 per share. Brokerages like JM Financial and Morgan Stanley maintained 'Buy' and 'Overweight' ratings, respectively, raising their target prices.
Markets likely near bottom range; stay invested: Devina Mehra
Devina Mehra of First Global believes Indian equity markets are in a bottoming zone, advising investors to stay invested. She anticipates 2026 will be a better year than 2025, with sector rotation continuing. While acknowledging earnings disruptions, she remains constructive, seeing power as a key growth area and the IT sector as evolving, not dead.
Nifty stays range bound as volatility rises; breakout awaited
Nifty 50 traded within a narrow range, closing slightly higher amid rising volatility and weak momentum indicators. Markets remain in consolidation, with key resistance and support levels intact, while sector rotation suggests selective opportunities despite the absence of strong directional trends.
Supply chain stress to reflect in earnings over next few quarters: Raunak Onkar
Markets are oscillating between sentiment and fundamentals, with global disruptions impacting near-term earnings. Raunak Onkar of PPFAS Mutual Fund highlights that while growth expectations are long-term, supply chain issues may affect upcoming quarters. He remains positive on the structural trajectory of financial services and technology, despite AI concerns.
Banking, financials remain strong play despite near-term volatility: Sunil Subramaniam
Crude oil prices and UAE's role in OPEC+ are influencing Indian markets. Experts suggest oil prices may fall in the medium term, easing concerns for India's economy. The banking and financial sector shows resilience, with rural and auto demand supporting lending. The pharmaceutical sector sees opportunities in generic drugs like Semaglutide.
Power, auto ancillary, and mid-size banks: Where Motilal Oswal Private Wealth is putting money now
Motilal Oswal Private Wealth is investing cash into key sectors. Power is a top pick due to rising demand. Auto ancillary firms are set to benefit from trade deals. Mid-size private banks show strong growth metrics. IT valuations are attractive but execution is a concern. Indirect AI plays include data centres and rare earth companies.
Are metals turning defensive? 5-year returns rival, even beat traditional safe havens
Metal stocks are outperforming defensive sectors, delivering strong returns driven by structural demand shifts and supply constraints. Factors like EV adoption, infrastructure, and energy transition are fueling this sustained growth, attracting significant FII interest despite broader market caution. Valuations are mixed, emphasizing the need for selective stock picking.
Now is the time to start deploying money into markets, says Nitin Raheja; here's where to look
Indian markets present attractive long-term investment opportunities following recent corrections, according to Nitin Raheja of Julius Baer. He advises staggered investing, highlighting power and energy, PSU banks, insurance, and defence as key sectors. While near-term volatility persists, Raheja believes the earnings outlook remains robust, with potential for a shift into the next financial year.
Stick to defensive and quality themes amid volatile global setup: Mayuresh Joshi
Indian stock markets are showing a strong rebound. Investors are now carefully selecting companies with good earnings and strong finances. Key sectors like power and pharmaceuticals are attracting attention. Mid-cap PSU banks are also seen as promising. Niche engineering and manufacturing firms are expected to perform well. This selective approach is driven by evolving global demand and input costs.
Indian market faces AI narrative problem; it'll be smallcaps over largecaps for next 5 years: Manish Gunwani
Indian stock market valuations are attractive. However, global investor focus on Artificial Intelligence is diverting capital away from emerging markets like India. Foreign institutional investor flows are expected to remain subdued unless the AI theme slows or India implements significant structural reforms. Bandhan AMC is investing in manufacturing exporters and metals. The IT sector faces a long-term slowdown.
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