&w=3840&q=100)
Investors should look at defensive plays for now: Achin Goel, Bonanza
As March 2025 quarter earnings season nears close, ACHIN GOEL, fund manager, Bonanza Portfolio, tells Sirali Gupta in an email interview that India Inc. is expected to see a recovery in the coming quarters, particularly in the consumer sector, driven by a revival in rural demand. Edited excerpts:
Is border tension between India and Pakistan still a concern for the market?
Indian markets have shown surprising resilience despite the recent border tensions. This is because investors were betting against a major escalation between India and Pakistan. The ceasefire is holding, but it's not just about border politics – several other positive factors are supporting the market's steady performance: progress on multiple international trade deals, encouraging AMFI data that's boosting retail participation, and growing buzz about foreign institutional investors increasing their India allocations. All these elements together explain why markets remain stable despite what could have been a major destabilising event.
Easing border tensions between India and Pakistan is a significant positive for Indian investors; however, we can expect volatility due to ongoing earnings season and global uncertainties, especially tariff-related developments. We advise investors to adopt a balanced strategy focusing on defensive sectors like consumer goods and healthcare for stability, while selectively increasing exposure to domestic manufacturing sectors poised to benefit from shifting supply chains and potential policy support. Government-focused sectors like defence, renewable energy, and electric vehicle (EV) can be also considered to look into for long-term investment.
What about financials?
Given the current environment, the focus remains on domestic businesses, particularly within the financial sector. Banks, non-bank lenders, and other financial services continue to present compelling opportunities due to their strong fundamentals and growth potential. This sector's robust performance and critical role in the economy make it a key area of interest.
How would you assess India Inc.'s performance in the March 2025 quarter (Q4-FY25)?
India Inc.'s Q4-FY25 is likely to see revenue grow by 5-6 per cent, which was accelerated by consumer-driven sectors. The overall revenue for FY25 is estimated at 5 per cent, which is likely to be driven by strong performance in consumer-driven sectors like consumer discretionary products, services, and retail. The automobile sector's revenue is likely to grow 6 per cent in FY25, as retail momentum for passenger vehicles picked up and realizations rose owing to a change in the product mix and an increasing share of exports. Despite relatively flat revenue growth, operating profit margins are expected to widen, potentially reaching 8 per cent.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
23 minutes ago
- The Hindu
Goyal optimistic about signing first tranche of U.S. trade deal before July 9
As the clock ticks towards U.S. President Donald Trump's 'reciprocal tariffs' to kick in on July 9, Commerce Minister Piyush Goyal has expressed optimism that India and the U.S. could sign a preliminary or early tranche of a larger trade deal before that date, though he stopped short of confirming a deal would be signed. 'We are in continuous dialogue. I have always been an optimist,' Mr Goyal said in an interview with The Hindu on the fringes of a conference organized by the India Global Forum 2025 in London. Also Read | India-U.S. trade deal faces delays, original fall deadline back on the table 'I'm very confident that, given that the US and India are very friendly countries, trusted partners, both wanting to have resilient, reliable, trusted supply chains, both vibrant democracies, we will be able to come up with a win-win for the businesses of both countries,' Mr Goyal added. Failure to sign such a deal would , as things stand, would result in Indian goods entering the U.S. being tariffed at 26% starting in early July. Also Read | What is the significance of the India-U.K. free trade agreement? Mr Goyal did not comment on whether a deal on the sensitive dairy and agricultural goods sectors would form part of the preliminary tranche of the Bilateral Trade Agreement (BTA) under discussion with the U.S. 'I think negotiations are best left to the negotiators and the negotiating table. We will, of course, inform the media at the right time,' he said. Mr. Goyal also did not want to comment on the impact of the U.S.'s Trade Promotion Authority, which is a process in the U.S. Congress to delegate authority to the U.S. President to negotiate trade deals, including deals that offer below Most Favoured Nation (MFN) tariff rates to some trading partners of the U.S. Earlier, Mr Goyal had participated in a moderated discussion with his U.K. counterpart, Business and Trade Secretary Jonathan Reynolds. The two countries had announced a free trade agreement on May 6. Mr Goyal said the UK and India were successful in concluding a deal because the sides had agreed to be sensitive to one another's concerns, setting aside issues that could not be negotiated easily. On the India-EU trade talks, Mr Goyal said the sides were looking to conclude a trade deal by the end of this calendar year, when asked whether they would announce a full-scale trade deal or an interim agreement first. 'There's that famous English phrase…since we are in Great Britain …'the air is pregnant with possibilities', he said adding he did not know what size and shape the agreement would have. On weather the Trump administration's return to the White House had impacted the speed and direction of India's trade talks with the E.U., Mr Goyal suggested that third parties did not impact bilateral deals. Last week the E.U.'s foreign minister , Kaja Kallas, had said at a joint press conference with External Affairs Minister S Jaishankar that the E.U. was a 'reliable, predictable and credible partner for India'. Countries have been seeking to recalibrate their relationship with the U.S. since the return of U.S. President Donald Trump and his 'America First' philosophy to the White House. 'I don't think there's any impact of any other situation on a negotiation between two countries, because these negotiations are not a short term arrangement. These are like long-term marriages you are negotiating after crystal-gazing … 25 years, 50 years, into the future,' Mr Goyal said. India wants WTO strengthened On the relevance of the World Trade Organization given the change in the U.S. administration and its retrenchment from multilateralism, Mr Goyal said the world trade body had an 'important' role to play and that India believed 'very strongly' in multilateralism. '[ India ] believes we have to strengthen the WTO over the next few years through dialogue and discussions and will continue to play an increasingly important role to promote multilateralism,' he said. Tata Steel Not Discussed with the UK Mr Goyal also said that India had not made an intervention with the U.K. on behalf of Tata Steel which owns the Port Talbot steel plant in south Wales. The plant has had to import raw material from India and Europe following the closure of its blast furnace last year as it prepares to operationalize an electric-arc furnace in 2027. This may mean it runs afoul of the U.S.'s rules on inputs to qualify for any tariff reductions that the U.K. and U.S. agree to. The Trump administration has threatened to fully or partially maintain tariffs of 25% on British steel unless the U.K. provides guarantees on Tata Steel's inputs, as per a report in the Guardian. 'That, the U.K., has to negotiate with the U.S.,' Mr Goyal said.
Mint
26 minutes ago
- Mint
Independence Day: Toll relief, annual pass for pvt vehicles on highways from 15 Aug
New Delhi: The government on Wednesday announced a FASTag-based annual pass priced at ₹ 3,000, effective from 15 August, offering commuters relief from having to paying frequent hefty toll charges on national highways. The new pass, which will be valid for a year from the date of activation or 200 trips—whichever comes first—is designed exclusively for non-commercial private vehicles such as cars, jeeps, and vans to facilitate hassle-free, faster and smoother travel experience for millions, minister of road transport and highways Nitin Gadkari said in a post on X. 'In a transformative step towards hassle-free highway travel, we are introducing a FASTag-based Annual Pass priced at F3,000, effective from 15th August 2025… The Annual Pass will enable seamless and cost-effective travel across National Highways throughout the country. A dedicated link for activation and renewal will soon be made available on the Rajmarg Yatra App as well as on the official websites of NHAI and MoRTH,' Gadkari said. Mint reported in February on a plan for annual discounted toll passes for private vehicles on national highways. Travellers will also get a discount on the toll on certain national highway stretches. 'This policy addresses long-standing concerns regarding toll plazas located within a 60 km range and simplifies toll payments through a single, affordable transaction. By reducing wait times, easing congestion, and minimizing disputes at toll plazas, the Annual Pass aims to deliver a faster and smoother travel experience for millions of private vehicle owners,' the minister's post said. The move follows rising concern over high toll charges on Indian highways. Several new stretches have a string of toll booths that make travelling on them extremely expensive for both personal and commercial vehicles. It is estimated that toll charges for a one-way journey on the 1,386-km Delhi-Mumbai expressway, which is still under construction, could range between ₹ 1,000 and ₹ 3,000 depending on the type of vehicle. The toll is determined on the basis of distance as well as the road structure. For instance, it is higher on routes with more railway overpasses. Toll charges grew by over 3% in FY25 and are projected to grow by 3.5-4.2% in FY2026, according to an Icra report. The annual pass has been designed in a way that it does not impact the revenue of concessionaires operating highway stretches. This means that any loss in projected revenue from highway stretches would be covered by the government. The toll pass could significantly reduce travel costs for frequent commuters and enhance ease of movement. Several states, including Maharashtra and Tamil Nadu, have already tried out monthly toll passes, which demonstrated their feasibility. The loss of revenue from discounting is expected to be limited given that private vehicles contribute just about 26% of annual toll collection, while 74% share is with commercial vehicles. The user fee collection or toll collection at plazas on national highways stood at ₹ 55,882.12 crore in FY24. This was a jump over the ₹ 48,032.40 crore collected in FY23 and ₹ 33,928.66 crore in FY22. In FY25, the ministry of road transport and highways is targeting toll collection of ₹ 70,000 crore. As on October, 2024, there were a total of 1,015 user-fee plazas on national highways. A 3-5% traffic growth is likely to see toll collection grow by 7-9% in FY2026, the Icra report said. The ministry will also implement a barrier-less global navigation satellite system (GNSS)-based toll collection system on certain stretches of national highways as an added facility along with FASTag. A GNSS-based toll collection system would do away with the need for toll plazas on those highways stretches, facilitate smooth movement of vehicles and enable distance-based tolling so users pay only for the stretches they have travelled.
India Gazette
27 minutes ago
- India Gazette
From Silver to Smart Investment: How Eternal Handicrafts Is Turning Royal Elegance into a Modern Asset
SMPL New Delhi [India], June 18: While most people still invest in wooden furniture that loses its shine and value over time, savvy buyers are now turning to silver furniture -- a timeless combination of beauty, durability, and real monetary worth. And when it comes to handcrafted silver furniture in India, one name stands out: Eternal Handicrafts, founded by Naman Nahata in the heart of Rajasthan's royal city, Udaipur. 'Silver isn't just decor -- it's a growing asset. In the last two years alone, the price of silver has jumped by over 1 lakh per kg,' says Mr. Nahata. 'At Eternal, we help you decorate your home while growing your wealth.' Why Choose Silver Furniture Over Wood? Wooden furniture may be common, but it depreciates quickly, requires regular maintenance, and loses charm over time. On the other hand, silver and German silver furniture: -Appreciates in value -- just like gold - Requires minimal upkeep (no termites, no warping) - Looks regal and unique - Lasts generations -- both structurally and in terms of resale worth Example: In 2023, silver was around 60,000/kg. By mid-2025, it crossed 1,10,000/kg. Why invest in wood when you can own functional wealth? Why Eternal Handicrafts? With over 35 years of experience, Eternal Handicrafts isn't just another luxury brand -- it's a cultural powerhouse. Based in Rajasthan, the land of royals, Eternal brings the essence of Indian heritage into modern interiors through its handcrafted silver masterpieces. What makes them different? -Legacy of Craftsmanship - Since 1991, built by master artisans from Udaipur - Skilled Workforce - Team of local artisans trained in traditional Rajasthani techniques - Timely Deliveries - Luxury, delivered with precision - Customization Experts - From concept to creation, built to fit your vision - Global Reach - Proudly exporting to clients across the USA, UAE, UK, and beyond 'From a swing for your palace to a temple for your home -- if you can imagine it in silver, we can build it.' What Do They Make? Eternal Handicrafts offers a wide, ever-evolving portfolio of silver and German silver furniture, including: - Designer chairs, sofas, and tables - Royal jhoolas (swings) and diwans - Maharaja-style beds and side tables - Pooja temples, chowkis, and thrones - Decorative mirrors, consoles, and dressers - Customised wedding gifts and statement showpieces - Corporate gifting and bulk orders Every product is unique -- handcrafted, not factory-made -- blending traditional design with modern sensibilities. Key Highlights - 11,000 sq ft luxury showroom in Udaipur - 10,000 sq ft manufacturing unit with 50+ artisans - Wide export network across 10+ countries - Products made from precious metals (silver & German silver) - Highly customisable designs for homes, hotels, and collectors - Proudly Made in India, admired globally About Eternal Handicrafts Originally launched as Jai Bhikshu Enterprises in 1991, Eternal Handicrafts has grown into one of India's most renowned names in silver and German silver furniture. From its roots in Udaipur's Amberi region, the company now operates a world-class facility that brings together tradition, technology, and talent. Their mission? To preserve heritage, empower artisans, and deliver handcrafted luxury that appreciates in value. About the Founder - Mr. Naman Nahata A visionary with a deep passion for Indian culture and design, Naman Nahata has spent decades building Eternal Handicrafts into a brand that blends legacy with innovation. Known for his eye for detail and dedication to excellence, he continues to lead the company toward a global future while staying rooted in Rajasthan's artisanal pride. 'At Eternal, we don't just make furniture -- we craft legacies. Each piece is made to outlive trends and become a treasured part of your story.' - Naman Nahata For showroom visits, custom orders, or to request a product catalogue, connect with us at: (ADVERTORIAL DISCLAIMER: The above press release has been provided by SMPL. ANI will not be responsible in any way for the content of the same)
