Salasar Techno Engineering Q4 net profit grows 30 pc to Rs 20 cr
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We now expect the indices to face some near-term downward pressure as a lot of global developments are keeping markets on tenterhooks. However, a good and timely monsoon coupled which could spur rural demand, tax breaks for the middle classes in the Union Budget and globally, positive developments on tariff wars could keep the markets positively biased. We expect Nifty to have reached its fair value around current levels, but momentum could carry these higher especially if the US dollar corrects from 99 levels towards 92 or so. Any rate cuts by RBI beyond expectations could of course have a much stronger positive impact Q) What is the sense you are making from the March quarter results? Are downgrades more than upgrades this time around? A) While the overall earnings season has shown resilience in certain sectors, the prevalence of downgrades suggests caution among investors. 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ADVERTISEMENT Stock is trading at 0.8x on Mar'27 ABV; we maintain multiple at 0.9x but cut TP to Rs780 from Rs860. Retain HOLD. Q) What is the long-term outlook for Indian equities over the next few years?A) Markets seem to have digested the uncertainty related to global tariff wars on hopes of lesser disruption and trade agreements by major an end to global turmoil is not in sight as Chinese growth is slowing down, US interest rates are holding steady and interest rates in Japan are moving up. ADVERTISEMENT Overall, the scenario is ripe for another 50bps rate cut by RBI over the next 6 months, however the declining rate differential with US and other large economies is a key factor to watch out for. Q) Which sectors are expected to deliver strong returns going forward? Any safe bets which investors can consider? A) We expect benefits for Auto, Hotels, Airlines, Durables/ electronics, QSR, Apparel, Footwear, Building Material, Household Goods, Paints and addition, Capital Goods, Defence, Hospitals, Pharma, EMS, Travel and Telecom continue to have positive added Sun Pharmaceutical Industries, Rainbow Children's Medicare and Hindustan Aeronautics in conviction picks. Q) How can high-net-worth individuals effectively build wealth in the current market environment? A) We believe larger investors should have a slightly large cap biased portfolio – from the NSE 100 index typically, apart from some exposure to quality stocks like Hinduja Finance, NSE etc in the unlisted are not very confident that the evolving situation is ideal for weak balance sheets or internationally exposed companies and for that reason, we recommend staying invested in well-known also believe longer tenor bond funds could be looked at as we possibly are headed towards a decline in long duration interest rates especially if GDP growth doesn't pick up speed and inflation remain under conservative investors may want to look at dynamic bond funds and gold in their portfolios from a 2-year perspective Q) What is your take on Gold? Recently, it crossed Rs 1 lakh in the physical market. Right time to increase allocation or investors should wait for some cool off? 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