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Economic Times | 22 Nov, 2019 | 09.24PM IST

ETMGS: Go local to realise $5 trillion economy, say experts

Catch all updates from ETMarkets Global Summit 2019.

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02:21 PM

Salil Pitale, JMD & Co-CEO, Axis Capital at ETMGS

Salil Pitale, JMD & Co-CEO, Axis Capital at ETMGS
02:20 PM

You need to give money to public for formalisation of economy. You can not just work on supply side but also need to work on demand side

- Vaibhav Sanghavi, Co-CEO, Avendus

02:20 PM

Very few countries with $5 trillion economy, says Radhika Rao, Vice Senior President and Economist at DBS Bank

Very few countries with $5 trillion economy, says Radhika Rao, Vice Senior President and Economist at DBS Bank
02:15 PM

Nilesh Shah, MD, Kotak AMC at ETMGS

Nilesh Shah, MD, Kotak AMC at ETMGS
02:13 PM

Sebi invites applications from agencies to process, maintain investor complaints

The Securities and Exchange Board of India (Sebi) is planning to rope in an agency to process and maintain records of investor complaints received by the regulator. The mandate for the agency is to receive grievances from investors through physical or electronic mode and categorise them. Also, the agency will be responsible for tracking complaints' status online and conduct follow-ups, besides preparing action taken reports (ATRs) and updating the status of grievances on Sebi's online platform for complaints, SCORES.
01:28 PM

Buy and hold -- I think investing delivers far more returns than trading. Investing is far more secure way of making money you must buy sustainable businesses

- Prashant Jain

01:28 PM

When everyone wants to buy the same stocks in the market, you will find value in other stocks. This is contra-investing

- Prashant Jain

01:27 PM

HUL is a great company, but has grown broadly at the same rate as before. I don't believe in contra investing, I believe in value investing

- Prashant Jain

01:26 PM

I think when the global firms come to India, merchandise exports will also rise. Over time, banks will be able to cater to small consumer loans

- Prashant Jain

01:25 PM

CSB Bank IPO subscribed 30% till 1 pm

CSB Bank's initial public offerings (IPO) got subscribed by 30 per cent on the first day of offer till 1 pm. The public offer received bids for 34,28,175 shares so far against the total issue size of 1,15,54,987. Meanwhile, the quote reserved for retail individual investors was also subscribed by over 100 per cent at around the same time.
01:24 PM

I think investment should outgrow consumption in india. Household debt has gone up very sharply.

- Prashant Jain

01:23 PM

ETMGS 2019: Look at high dividend yield companies in low interest rate environment, says Mark Mobius

01:21 PM

Tax cut has come at a very opportune time. Wages have gone up in China, and for the first time cost of manufacturing is now cheaper than China

- Prashant Jain

01:16 PM

Gold, silver advance in futures trade amid strong demand

Gold prices on Friday rose by Rs 36 to Rs 37,989 per 10 gram in futures trade as speculators widened their bets, tracking a firm trend overseas. Silver futures on Friday advanced by Rs 7 to Rs 44,745 per kg as investors raised their positions supported by positive global trend.
01:11 PM

I think all is not lost. Indian firms in chemicals, textiles - they tell us the cost of manufacturing is cheaper in india

- Prashant Jain

01:11 PM

Prashant Jain, ED & CIO, HDFC MF at ETMGS

When we made those big leaps on services, China went decades ahead of us in manufacturing. It shows up in our GDP composition
Prashant Jain, ED & CIO, HDFC MF at ETMGS
01:09 PM

If you bought FMCG firms in 1995, they delivered 0% returns. Consumption stocks are trading at very high multiples. Many of these businesses are matured businesses

- Prashant Jain

01:08 PM

South Korean stocks end higher on Sino-US trade deal optimism, HK uncertainty caps gains

South Korean shares snapped four days of losses on Friday, as China's remarks raised hopes for a preliminary trade deal with the United States, although worries over U.S. human rights bills on Hong Kong capped gains. The Korean won weakened, while the benchmark bond yield rose. The KOSPI index ended up 5.36 points, or 0.26%, to 2,101.96. The benchmark index shed 2.79% for the week, and recorded its first weekly decline in seven weeks. The index also marked its worst weekly loss since Aug. 9.
01:05 PM

I don't subscribe to the view that good business is a good investment at any price. Price must be good also

- Prashant Jain

01:02 PM

Some businesses are fundamentally less capital intensive, where cuts will not prompt them to spend more. As long as existing assets are available cheaper, I don't think new assets will find buyers

- Prashant Jain

01:02 PM

Investments via P-notes rise in Oct after registering fall for 4 months

After declining for four consecutive months, investments through participatory notes (P-notes) in the Indian capital market marginally rose to Rs 76,773 crore at the end of October. Before registering gain in October, investments through P-notes had been declining continuously since June, according to the latest data from markets regulator Sebi.
01:01 PM

White collar wage growth in India is degrowing significantly. Serious attempts should be made to get global companies to set up shop in India

- Prashant Jain

01:00 PM

I think india growth will bounce back, but it will take some time

- Prashant Jain

12:59 PM

It is a misnomer that the private sector pays more; not true at all

- Prashant Jain ED & CIO, HDFC MF

12:58 PM

White collar wage growth in India is degrowing significantly

- Prashant Jain

12:58 PM

Equities are a very simple asset class, but what is simple is often not easy

- Prashant Jain, ED & CIO, HDFC MF

12:57 PM

Learnings from 25 years of fund management on Dalal Street: Nikunj Dalmia of ETNOW in conversation with Prashant Jain ED & CIO, HDFC MF at ETMGS

Learnings from 25 years of fund management on Dalal Street: Nikunj Dalmia of ETNOW in conversation with Prashant Jain ED & CIO, HDFC MF at ETMGS
12:54 PM

In India, we can have differentiated interest rates

- Ashima Goyal, Member, PMEAC

12:54 PM

If vegatable prices normalise, headline inflation will fall

- Samiran Chakraborty

12:51 PM

Anchoring of inflation expectations very important. We are sensitive to oil, which moves headline inflation

- Ashima Goyal

12:50 PM

Do not read inflation on month to month basis

- Indranil Sen Gupta, Director & Senior Economist, BankofAmerica

12:50 PM

We need to distinguish between headline inflation and core inflation

- Ashima Goyal, Member, PMEAC

12:49 PM

Sensex, Nifty trade lower; Infosys slips 3%

The 30-share Sensex was down 223.26 points, or 0.55 per cent, at 40,351.91 in afternoon trade, while the 50-share Nifty index traded 65.15 points lower at 11,903.25.
12:49 PM

It is well understood that the share of capital has gone up significantly over the past several years and the share of labour has gone down

- Samiran Chakraborty, Chief Economist, Citibank

12:48 PM

Govt, RBI took various measures, but transmission can't happen overnight, it will take 6-9 months

- Indranil Sen Gupta, Director & Senior Economist, Bank of America

12:48 PM

Crude oil futures fall on weak global cues

Crude oil futures on Friday fell 0.26 per cent to Rs 4,180 per barrel in line with a weak trend in overseas market. Crude oil contracts for December delivery traded lower by Rs 11, or 0.26 per cent, at Rs 4,180 per barrel with a business volume of 16,649 lots on the Multi Commodity Exchange.
12:47 PM

In any downturn, risk appetite reduces, but excess liquidity has to come to the market

- Samiran Chakraborty

12:47 PM

In any cyclical downturn, you will have risk appetite reducing

- Samiran Chakraborty, Chief Economist, Citibank

12:47 PM

So called real policy rate is the second highest in Asia, term period is 50-60 bps more than last 5-6 years average

Samiran Chakraborty, Chief Economist, Citibank
So called real policy rate is the second highest in Asia, term period is 50-60 bps more than last 5-6 years average
12:45 PM

At some stage, RBI may come out with some direct measures to bring down real interest rates

- Indranil Sen Gupta

12:44 PM

Collapse of commodity prices, WPI inflation is down by 250 bps, MCLR down 40 bps.. average lending rate has not come down

- Indranil Sen Gupta, Director & Senior Economist, Bank of America

12:44 PM

Problems we face today had the Genesis in what happened last year: Indranil Sen Gupta, Director & Senior Economist, Bank of America

Problems we face today had the Genesis in what happened last year: Indranil Sen Gupta, Director & Senior Economist, Bank of America
12:42 PM

Central banks sole provider of liquidity

- Ashima Goyal

12:40 PM

Japanese stocks gain on hopes for truce in US-China trade row

Japanese shares gained on Friday as cautious optimism about the prospect of the United States and China reaching a trade agreement lifted investors' risk appetite. The Nikkei index ended up 0.32 per cent at 23,112.88 points as exporters in the IT sector and the industrial equipment sector paced gains.
12:40 PM

Australia shares lifted by energy and miners, NZ slips

Australian shares finished firmer on Friday, helped by energy and mining stock gains but worries about the financial sector weighed after Goldman Sachs cut its target price on Westpac, which faces an explosive lawsuit over financial breaches. The S&P/ASX 200 index closed 0.6 per cent higher at 6,709.80, while marking its biggest weekly loss in almost two months. The benchmark fell 0.7 per cent on Thursday.
12:38 PM

Global financial crisis originated in US, and they were the one to get out of it first: Ashima Goyal, Member, PMEAC

Global financial crisis originated in US, and they were the one to get out of it first: Ashima Goyal, Member, PMEAC
12:35 PM

The real capital asset that should be taxed is real estate

- Jamal Mecklai

12:35 PM

One could eliminate individual income tax, levy taxes of individual who earn 200 times the minimum salary

- Jamal Mecklai

12:34 PM

ETMGS 2019: Welcome Address by Deepak Ajwani

12:33 PM

Global economies in a mess. There is too much capital in the world, says Jamal Mecklai, Founder & CEO, Mecklai Financial Services

Global economies in a mess. There is too much capital in the world, says Jamal Mecklai, Founder & CEO, Mecklai Financial Services
12:32 PM

Nifty Financial Services index down; Edelweiss dips 3%

The Nifty Financial Services index was down with its components trading lower in Friday's afternoon session. Shares of Edelweiss Financial Services (down 2.65 per cent ) , ICICI Lombard General Insurance Company (down 1.94 per cent ) , Kotak Mahindra Bank (down 1.37 per cent ) and Cholamandalam Investment & Finance Company (down 1.09 per cent ) were trading lower. Axis Bank (down 0.99 per cent ) , HDFC Bank (down 0.96 per cent ) , Bajaj Finance (down 0.76 per cent ) and HDFC Life Insurance Company (down 0.55 per cent ) too were the top losers in the index. The Nifty Financial Services index was trading 0.44 per cent down at 13957.9 around 12:26 pm.
12:28 PM

There is a debate that a third of firms at the bottom of investable grade in US are not investable

- Viral Acharya

12:27 PM

Central banks globally undershot inflation forecast

- Viral Acharya

12:27 PM

Viral Acharya at ETMGS

If transmission to the real economy is not happening after 10 years... there can be 2 things..

  1. You are hitting a dead end
  2. You can be pragmatic to understand that monetary policy is not meant to address the structural problems of economy
12:14 PM

Media shares gain; Network 18 surges 12%

Media shares were trading with gains in Friday's afternoon session. Shares of Network 18 Media & Investments (up 11.53 per cent) , Zee Media Corporation (up 4.85 per cent) , Saregama India (up 3.89 per cent) and TV18 Broadcast (up 3.67 per cent) were trading with gains. Zee Entertainment Enterprises (up 3.27 per cent) , Music Broadcast (up 1.70 per cent) , Jagran Prakashan (up 1.28 per cent) and Dish TV India (up 1.26 per cent) too were among the top gainers. The Nifty Media index was trading 1.88 per cent up at 1975.55 around 12:07 pm.
12:07 PM

Fitch Rating says tariff hikes, recent govt relief won’t offset impact of AGR dues

"Fitch has a negative outlook on the sector for 2020 primarily due to heightened financial risk associated with the large unpaid AGR-related dues,” it stated. Fitch says Vodafone Idea and Bharti will benefit the most as their negative free cash flow will reduce by $1.7 billion and $850 million a year, respectively, for the financial year ending March 2021 (FY21) and FY22.
12:06 PM

BSE Capital Goods index down; Siemens slips 4%

The S&P BSE Capital Goods index was down in Friday's afternoon session. Shares of Siemens (down 3.61 per cent), SKF India (down 2.83 per cent), Schaeffler India (down 2.37 per cent) and NBCC (India) (down 2.01 per cent) were trading with losses. Lakshmi Machine Works (down 1.72 per cent), Havells India (down 1.66 per cent), ABB India (down 1.64 per cent) and Larsen & Toubro (down 1.42 per cent) too were the top losers in the index. The S&P BSE Capital Goods index was trading 1.25 per cent down at 17,678.02 around 11:59 am.
12:00 PM

Viral Acharya, Ex-Deputy Governor of RBI at ETMGS 2019

Monetary policies are meant to address only the cyclical shocks
Viral Acharya, Ex-Deputy Governor of RBI at ETMGS 2019
11:55 AM

Global brokerages see up to 30% upside in this PSU

The power major jumped after foreign financial firm Morgan Stanley upgraded the company’s shares to ‘Overweight’ from ‘Equal-Weight’ earlier with a target price of Rs 152 (Rs 147 earlier). The target price suggested an upside of nearly 30 per cent against the current market price.
11:50 AM

Telecom shares mixed; Tejas Networks plunges 9%

Telecom shares were trading on a mixed note in Friday's morning session. Shares of Reliance Communications (up 4.76 per cent) , GTL Infrastructure (up 4.44 per cent) , Vodafone Idea (up 1.96 per cent) and Mahanagar Telephone Nigam (up 0.64 per cent) were trading higher. While Tejas Networks (down 8.60 per cent ) , Optiemus Infracom (down 4.98 per cent ) , Bharti Infratel (down 4.82 per cent ) and Bharti Airtel (down 0.63 per cent ) were the top losers in the index. The S&P BSE Telecom index was trading 1.23 per cent down at 1044.64 around 11:44 am.
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