Market Outlook: Check Out Major Factors Driving Stock Market This Week
Major companies, such as HCL Tech, Nelco, Tata Technologies, Tejas Networks, AWL Agri Business, HDFC Life, Bank of Maharashtra, ITC Hotels, Axis Bank, HDFC AMC, Indian Hotels, Polycab, Wipro, and JSW Steel are scheduled to announce their Q1 results during the week.
On the macroeconomic front, inflation data for June -- both wholesale and retail -- will be released on July 14, which could influence investor mood.
According to Bajaj Broking Research, globally, US inflation data is expected on July 15, followed by industrial production numbers on July 16 and jobless claims on July 17.
These indicators will also play a role in shaping global risk sentiment.
Sudip Shah, Head of Technical and Derivatives Research at SBI Securities, said the Indian market is currently underperforming compared to global peers, many of which are witnessing strong rallies.
This, he added, reflects a phase of consolidation and cautious trading in domestic equities.
He also pointed out that two major factors could drive market direction in the coming sessions -- fresh updates on tariffs and the Q1 earnings season.
The previous week was marked by volatility, with the Nifty slipping 311.15 points or 1.22 per cent to close at 25,149.85, and the Sensex losing 932.42 points or 1.12 per cent to settle at 82,500.47.
IT stocks led the decline, dragging the Nifty IT index down by 3.76 per cent. The Nifty Auto index fell 2.03 per cent, while Nifty Infra and Nifty Energy declined 1.88 per cent and 1.13 per cent, respectively.
However, FMCG stocks saw buying interest, with the Nifty FMCG index ending 2.15 per cent higher.
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Economic Times
5 minutes ago
- Economic Times
Astronomer CEO Andy Byron resigns after Coldplay kiss cam clip with HR head Kristin Cabot
Andy Byron has resigned as CEO of Astronomer, a US-based AI and data platform company, after a viral video showed him embracing colleague Kristin Cabot at a Coldplay concert. The clip sparked online speculation, especially after it was revealed both are married to other people. Byron was placed on leave before his resignation was formally accepted. Cabot's job status remains unclear. The firm says its operations continue unchanged and that it remains committed to its stated values. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Coldplay moment Speculation and silence Leadership vacuum and online reaction Tired of too many ads? Remove Ads Where the company stands now Andy Byron, chief executive of Astronomer Inc. , has resigned following widespread backlash from a viral video taken at a Coldplay concert. In the footage, Byron was seen closely embracing the company's Chief People Officer, Kristin Cabot . Both are married. The company confirmed his resignation in a public statement released on Saturday.'Astronomer is committed to the values and culture that have guided us since our founding,' the company wrote on LinkedIn. 'Our leaders are expected to set the standard in both conduct and accountability, and recently, that standard was not met. Andy Byron has tendered his resignation, and the Board of Directors has accepted. The Board will begin a search for our next Chief Executive as Cofounder and Chief Product Officer Pete DeJoy continues to serve as interim CEO.'The incident and its fallout have placed Astronomer in an unrelenting media spotlight. The company, known for its Astro platform built on Apache Airflow , insists its product and client work remain unaffected.'While awareness of our company may have changed overnight, our product and our work for our customers have not. We're continuing to do what we do best: helping our customers with their toughest data and AI problems,' the company story began on Wednesday night at Gillette Stadium in Foxborough, Massachusetts. During a Coldplay concert, Byron and Cabot appeared on the venue's kiss cam. As the camera panned to them, the pair were seen hugging. Byron quickly ducked out of frame and Cabot spun around, covering her face with her lead singer Chris Martin, noticing the pair on screen, commented to the crowd, 'Either they're having an affair or they're just very shy.' That single line lit the clip spread rapidly across social media. Within hours, online users had identified the pair through their professional profiles. The clip didn't just spark gossip — it brought with it Thursday, both Byron and Cabot had been placed on administrative leave. Astronomer responded swiftly, releasing a statement reiterating its commitment to accountability: 'The Board of Directors has initiated a formal investigation into this matter, and we will have additional details to share very shortly.'Neither Byron nor Cabot has issued any public comment since the incident. What fuelled the public interest further was that both hold senior roles and are publicly known to be married. Byron's wife is marketing professional Megan Kerrigan, while Cabot is married to Andrew Cabot, CEO of Privateer company spokesperson confirmed that only the two individuals involved were employees of Astronomer. However, when asked specifically about Cabot's job status, the spokesperson declined to comment. As of now, she remains on leave, and no decision has been did clarify that online rumours wrongly identified the woman in the video as Vice President of Human Resources Alyssa Stoddard. The woman shown was in fact Kristin had only been CEO of Astronomer since July 2023. Cabot joined in November 2024 as Chief People Officer, overseeing the company's HR and workplace culture functions. Both were considered central to the company's recent restructuring and the days since the video went viral, Astronomer's social media has been flooded with comments and speculation, including demands for Cabot's resignation.'I wonder if Kristin Cabot will also resign,' one user posted on X (formerly Twitter). Another wrote, 'You'd have to think that Kristin Cabot will resign or be terminated also. My heart goes out to Megan Kerrigan and her two teen sons. The fallout of this date is devastatingly wild.'The board has not commented publicly on whether further action is the storm, Astronomer has made clear it's not changing course. In its public communications, the company has focused on distancing its work from the controversy and doubling down on its mission in the data and AI DeJoy, now interim CEO, is expected to lead while the board conducts its executive search. No timeline has been provided for when a permanent CEO will be internal investigation is still now, Astronomer appears determined to close the chapter and return focus to its product. Whether the public and its clients see it the same way remains to be seen.(With inputs from Reuters)
Economic Times
35 minutes ago
- Economic Times
New dilemma looms for India's private hospitals: More beds, but few can lie in them
Live Events MUTED PROFITABILITY INVESTOR LINEUP RISE OF SPECIALISED CARE (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel There is a new dichotomy looming on the horizon for India's private hospitals Capacity expansion lined up by top players and recent record investments and blockbuster deals in the sector may result in a transition from capacity crunch to overcapacity in a short span in major urban areas, even as the number of beds continue to be an issue in small cities and to estimates by leading healthcare consultants and industry experts, more than 50,000 beds are likely to be added in the organised hospitals sector in the next three-four years, with chains like Apollo Healthcare, Aster DM Healthcare, Fortis Healthcare and Max Healthcare leading the affordability problems persist, though the situation is improving. While the addition of more beds can help close the gap in India's poor bed to patient ratio—1.4 beds to 1,000 people—data shows that 75% of the healthcare infrastructure in metro cities is catering to a third of their World Health Organization(WHO) recommends about three beds per 1,000 people; Indian public health standards recommend a minimum of one bed, desirably India's metros, there are 2.5-3.5 beds per 1,000 people, but when it comes to quality, the bed density varies from as low as 0.4 to 1.0, estimates Kaivaan Movdawalla, partner and Healthcare Sector leader at EY-Parthenon numbers point to the need for more affordable healthcare delivery from private hospitals, something that can enable an increase in capacity utilisation and drive long-term good news is that demand for private healthcare has been growing. 'Post Covid, we are seeing a much greater momentum towards organised quality private healthcare,' said Movdawalla.'The key supply drivers are the high disease burden, expanding middle class and unlocking of demand for the bottom of the pyramid through social insurance,' he added.'A discernible shift of demand towards organised quality hospital segments is evident now. We see a demand-supply gap for quality beds to the tune of 25-40%,' he without affordability, filling them might remain a also warn that the flow of investment and the wave of capacity expansion lined up by leading chains in the next 3-4 years could weigh on profitability and margins of the leading hospital financial services firm Macquarie in a recent report maintained a cautious stance on Indian hospitals due to an upcoming capacity deluge with organic bed addition in the next four years slated to be four times that of what was added in the last five years. The report stated that profitability improvement in existing hospitals remained muted and even small bed capacity expansion was driving profitability compression. 'We expect private hospitals to add 40% capacity organically in the next 3 years… Eight large-listed hospital chains are slated to add over 15,000 beds in the next 3-5 years versus addition of about 3,400 in the last five years,' the report notwithstanding, the sector which has seen a flurry of investments in the last few years — especially post Covid — continues to remain a private equity favourite. Last week, Bengaluru-based Manipal Hospitals bought Pune-based Sahyadri Hospitals Group from Canada's Ontario Teachers' Pension Plan (OTPP) for around ?6,000 crore. Integration of Sahyadri with it will take Manipal's total capacity to about 12,000 Bengaluru-based hospital chain, Aster DM Healthcare, recently became the second largest healthcare chain in the country in terms of revenue after its merger with Blackstone-backed Quality Care. The company is eyeing the number one position, deputy managing director Alisha Moopen told terms of bed capacity, Aster DM may be leading by a whisker with a total of 10,300 beds after the merger compared with the country's largest pan India hospital chain by revenue, Apollo Hospitals, which has a bed capacity of 10, DM plans to add 3,300 beds in the next couple of years, taking the total number of beds to 13,600. Apollo Hospitals plans to invest ?6,000 crore to add 4,300 beds. 'In the short-term, supply will outpace demand,' said an analyst with a leading brokerage. 'The primary growth driver for most multispecialty hospitals was not volume but it was ARPOB (average revenue per occupied bed — an industry metric), which was led by rate hikes of beds and procedures,' the person from private equity firm Avendus shows that the hospital market in India is estimated to grow to $110 billion in the next 3-4 years from the current $76 billion, growing at a compounded annual rate of 10% driven by strong tailwinds from a rise in lifestyle diseases and increasing affordability. In 2019, or pre-Covid, the healthcare delivery market was $47 billion. Private hospitals and trusts currently constitute a 67% market share. Experts say that rising demand for quality healthcare, higher disposable income in small towns and rural areas and increasing insurance coverage will continue to drive more consolidation and M&As with a sharper focus on patient-centric large multispecialty hospitals are expanding through a combination of greenfield and brownfield expansion, single-specialty hospitals are increasingly gaining traction with rising demand from small towns.'The share of single specialty will become larger in the next four years and the organised players will more than double,' said Anshul Gupta, managing director and head of healthcare investment banking at Avendus single-specialty format, where a hospital typically would have 40-50 beds, presents an opportunity for greater geographical depth compared to multispecialty hospitals where the average size is about 250-300 beds. Specialisations seeing demand include mother and child care, IVF and is sparking consolidation. Large eye care chains like Dr Agarwal's Eye Hospital, Maxivision and others with PE backing have been acquiring anywhere between eight and 10 smaller players every year.'Demand for quality care is going up in rural areas with rising disposable income and for quality care there will be takers. There are a lot of untapped cities where there is demand,' said Bhanu Prakash, partner and Healthcare Services Industry leader at Grant Thornton. 'Focus will be on optimising capacity utilisation and improving ARPOBs,' he said. This is where single-specialty models will play a crucial role, he private equity investments in the single-specialty sector crossed $3.7 billion, accounting for over 35% of total hospital investments in the last 10 years. About 70% of these investments have gone to established specialties such as IVF, eyecare, mother & childcare, dialysis and is also a significant growth opportunity — especially for single specialty hospitals — in smaller cities such as Lucknow, Vizag, Jaipur, Kochi, Siliguri, Guwahati, Bhubaneswar, Patna, among others, with an increasing number of consumers wanting access to quality healthcare closer rising demand and lack of supply are prompting larger players also to expand in non-metros. Aster DM, for instance, will expand operations to cities such as Indore, Raipur, Aurangabad and Bhubaneshwar.
Economic Times
35 minutes ago
- Economic Times
Divorce in the air, marriages for the rich built on ‘trust'
Synopsis As prenuptial agreements lack legal standing in India, affluent families are increasingly utilizing private family discretionary trusts to safeguard assets during marital breakdowns. This trend, initially favored by the ultra-rich, now extends to the upper-middle-class, offering protection against financial risks associated with divorce and ensuring family wealth remains secure, especially in inter-caste or inter-religious marriages. TIL Creatives Representative Image Mumbai: With prenuptial agreements still not legally enforceable in India, the rich are finding new ways to shield themselves from the financial blow of a marital breakdown. The 'private family discretionary trust' is one such arrangement being repurposed to meet this need. A Delhi-based garment exporter, whose son's marriage soured very soon, said, 'Thanks to the trust we'd set up before the wedding, his business interest and family home remained untouched.'Similarly, a leading jeweller in Mumbai placed all real estate assets in a discretionary trust, naming his son as beneficiary. When the son filed for divorce, the wife could lay no claim on the properties she once thought she'd co-own. 'By definition, a trust protects the interest of the beneficiaries through the trustee ' said Rajat Dutta, founder of Inheritance Needs Services. 'In case a borrower defaults in financial obligations to lenders, then the assets in the trust cannot be attached by the lender, though the borrower is one of the trustees and also one of the beneficiaries,' said trend, once limited to the ultra-high net worth individuals in India, is now spreading to the upper-middle-class, as people look to protect their earnings and save the family from litigation, especially in case of a divorce. The trust also protects women. According to a lawyer, a woman who often had to deal with her husband's irrational demand for financial support, was able to protect her financial assets as they were in the trust which her father had created for his daughter and her to legal experts, this arrangement is also being adopted by traditional, business-oriented families which want to protect their enterprises, and parents of non-resident Indians who are in mixed marriages. SHIELDING SONS, SIDE-STEPPING BIAS Ashvini Chopra, head of family office solutions at Avendus Wealth Management, said many families are setting up trusts to shield the males from financial exposure after marriage, more so if it's not within the same caste and structured prudently, allow families to ensure that the male child technically doesn't own any asset and is just a beneficiary, thereby reducing the scope of a claim in case of a divorce.'Indian parents being possessive of family wealth wish to protect inherited wealth and de -risk future perceived risks of breakups' said Dutta of Inheritance Needs said that trust deeds are now being drafted keeping potential divorce in mind—a shift from their traditional inheritance-focused intent. In some recent highprofile divorces, judgments have varied widely, largely because there's no clear legislative framework—like a prenup—to guide settlements. Citing a case, a Mumbai-based family lawyer said, "A family business was nearly halved after a divorce settlement. Had the assets been placed in a properly drafted discretionary trust, they would have been out of legal reach.'A Mumbai-based estate planner spoke of a wealthy retired bureaucrat from Delhi who, on learning that his son wished to marry a divorcee with a girl child, put his entire wealth in a also a future-facing angle to this trust trend.
