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Time of India
2 days ago
- Business
- Time of India
Technology to drive consolidation in broking and asset management: Saurabh Mukherjea
Saurabh Mukherjea , Founder, Marcellus Investment Managers , discusses his views on the AMC space, potential tariffs on India and China, and the impact of technology on broking and asset management. Mukherjea says the Reserve Bank of India's banking regulations favour incumbents. However, broking and asset management are experiencing tech-driven disruption. Zerodha and Groww exemplify this shift. Digitization allows even smaller players to thrive. Technology will drive consolidation in broking and asset management. New AMCs may use fintech to disrupt the space. The key fact for the Indian markets is that domestic liquidity is very strong right now. SIP numbers are once again hitting highs. But one of the sectors that is likely to be beneficiary of this trend rather than which is already in the making, is the AMC space. What is your take on that as we are seeing this liquidity driven movement in select sectors. Can AMCs be a good bet? Saurabh Mukherjea: I would like to say that as a shareholder in my own AMC, I have to be realistic here. Given that some really big boys are entering the AMC space with lots of capital, many billions of dollars, I have a feeling that we are going to see profit margin compression in the years ahead. This is a classic capital cycle playing out where lots of AMCs are coming up and plenty of capital is coming in. So, coming back to our portfolios, we have sold out on our stock market plays, whether it is AMC, wealth management, the infrastructure which is the stock market. So caution is a relevant part of investing and looking at the juicy valuations in that space, we have sold out on the stock market related to the wealth management, asset management related plays in our portfolios. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo But last time we interacted, we had just received the first sprint of tariffs on India and now that situation has escalated so much because right now temporarily even though that may be the case, we are still at 50%. What could be the impact on the markets if this number were to continue to be above 25% even after the meeting that we are all watching very closely? Saurabh Mukherjea: My reading is much of this is negotiation and hardballing of India. The critical negotiation here as you are alluding to is the Putin-Trump negotiation. Clearly to my mind, the American president is putting pressure on Russia by punishing India for buying Russian oil. Hopefully, the Putin-Trump negotiation ends up in something fruitful whether it is Ukraine, whether it is some sort of broader deal between Russia and America. Once that piece is off the table, tariffs will come down. A 20% tariff on India and 30% on China will be a decent outcome. It will give India an advantage vis-à-vis China. It will give China plus one theme a fillip. It will allow America to reduce its dependence on China. So, 20% tariff on India and 30% on China seems to be the steady state that we will end up say four-five months out once the Putin-Trump negotiations reach some logical end. What about the new-age tech? I have been chatting with many market experts and everyone is scratching their head to figure out what could be the next banks. Now, it is going to take some time to reach that kind of weightage that banks cherish in share right now, but where can leadership emerge and give banks a stiff competition in years to come? Saurabh Mukherjea: In banking, the RBI does in a way helped the incumbents by blocking new entry. So, AU Finance got the first universal bank license in 10 or 11 years. In 30 years, India has had three new universal banks. But the RBI blocks entry into banking and that in a way makes the job of the incumbents slightly easier. But in broking, in asset management, there is no such blocking of entry and the sweeping up of the broking asset management space on the back of tech disruption of asset management and broking is upon us. Live Events You Might Also Like: Investment strategy: Saurabh Mukherjea on 3 ways to approach consumption basket We have seen the impact of firms like Zerodha, Groww. The digitisation of broking and asset management is reasonably easy to fathom and even small players like us have not built a single branch and yet we have been able to grow the business reasonably smoothly just by focusing on high net worth investors. So, the tech broking, tech asset management space, the use of fintech to drive broking and asset management will be a big theme for the next decade. In any such construct, where technology is being used, the big will get bigger and better and therefore, the smaller players, especially the players who do not have technology, will fall behind. We will see consolidation in broking and asset management driven by technology and it will be very interesting to see that the newer entrants into the AMC space will be able to use fintech to disrupt the space. We have not seen much of this interestingly in America and the broking that we saw Robinhood do in America. In a way, Robinhood's counterpart here would be a Zerodha, but in American asset management, we have not seen tech play a disruptive role in consolidating American asset management. It will be interesting to see whether the new-age Indian AMCs are able to do that. But broking seems relatively clear and I think AMCs will also consolidate on the back of fintech. You Might Also Like: For next 3-4 months, US Fed has runway to cut rates; tariff pass-on to consumers to happen over next 1 year: Taimur Baig
Time of India
2 days ago
- Business
- Time of India
Stock plunge at Monday.com sends shockwaves - here's the troubling reason you need to know
stock took a sharp tumble recently, sending ripples across the software industry and raising fresh concerns about how artificial intelligence (AI) is reshaping the sector's future, as per a report. The project management software company's stock dropped 26.5% after reporting second-quarter results that beat expectations, but then issuing a cautious revenue forecast that left investors uneasy, according to Stock Story. Revenue Guidance Falls Short of Expectations The key worry is that guidance for the third quarter fell short of Wall Street's anticipation, signaling a possible slowdown in growth, as per the report. The company projected revenue between $311 million and $313 million, just below analysts' estimates. On top of that, profitability showed signs of strain, with the GAAP operating margin slipping to -3.9% from a positive 0.8% a year earlier, according to Stock Story. Free cash flow margin also declined 20.1% compared to last year, as per the report. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program ALSO READ: VA hospitals in crisis! Audit exposes every center faces severe staffing shortages - are veterans at risk? by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy the Dip: Top 5 Dividend Stocks with Growth Potential Seeking Alpha Read Now AI Fears Trigger Major Selloff in Shares This combination of weaker future outlook and shrinking margins spooked investors, despite solid recent performance, as per the Stock Story report. The steep selloff in its shares reflects broader fears across the software industry about the disruptive power of AI, which many worry could upend traditional business models by enabling faster, cheaper software development, according to Bloomberg. has dropped 21.5% since the beginning of the year, and at $181.31 per share on Monday, it is trading 44.7% below its 52-week high of $327.92 from February 2025, as reported by Stock Story. While Morgan Stanley analyst Josh Baer raised his rating on to overweight on Tuesday, highlighting that the stock's pullback 'more than incorporates' risks of AI disrupting search advertising and performance marketing, as reported by Bloomberg. Live Events ALSO READ: Kevin O'Leary says legendary investor Charlie Munger nailed everything, except this one investing move Is Artificial Intelligence Disrupting the Software Business Model? The stock market reaction wasn't limited to alone, even European software giants, including SAP, biggest company by market value, saw its shares fall sharply, as per the Bloomberg report. SAP dropped more than 7% in Frankfurt, wiping out nearly €22 billion ($26 billion) in market value in a single session, according to Bloomberg. Other industry players like Sage Group and Dassault Systemes also slid amid mounting concerns that AI could spell tough competition ahead, as per the report. RBC Capital Markets analysts led by Matthew Hedberg, said that, 'Software valuations remain under pressure from the 'death of software due to AI' narrative, which likely drives continued volatility in the short term,' as quoted in the Bloomberg report. Jefferies analyst Brent Thill pointed out that, 'Investors are fearing that AI is going to eat software and multiples are going to fall apart,' adding, 'I think the fear is overblown, but nevertheless we are living through a period right now where investors just really don't care about the group,' as quoted in the report. ALSO READ: Is it AI or Trump's policies? US sees brutal 140% layoff spike in July, worst surge since early COVID chaos FAQs Why did stock drop ? Because its Q3 revenue forecast fell short of expectations, despite strong Q2 earnings, as per the Stock Story report. How much has stock fallen this year? It's down 21.5% in 2025 and about 45% off its February high.
Time of India
2 days ago
- Health
- Time of India
Pimple popping lands woman in hospital. What ‘Triangle of Death' means and why its deadly
A simple attempt to squeeze a facial blemish turned into a frightening medical emergency for Lish Marie, a mother of three from New York. After popping a cystic pimple just below her nostril—a region dermatologists refer to as the 'triangle of death'—she was rushed to urgent care and prescribed four medications, including antibiotics and steroids. Within hours, the left side of her face had swollen dramatically, making her unable to move it symmetrically. 'Only one side of my face could move,' she recalled, as per New York Post. Marie described the severe pain of the infection, which prompted immediate medical intervention. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program Understanding the 'Triangle of Death' The area from the bridge of the nose to the corners of the mouth is medically known as the 'danger triangle of the face,' or the 'triangle of death,' due to its unique vascular connections. In a social media clip, Dr. Mark Strom, a New York-based dermatologist, said that veins in this zone connect directly to the brain via the cavernous sinus. Popping a pimple here creates an open wound that allows bacteria to enter the bloodstream, potentially leading to life-threatening complications such as blindness, stroke, paralysis, and even death. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 21st Century Skills Start with Confident Communication Planet Spark Learn More Undo Similarly, Cleveland Clinic explains that infections in this region, though rare, can travel quickly to the brain, causing conditions like brain abscesses, meningitis, or septic cavernous sinus thrombosis. While modern antibiotics have made such outcomes treatable if caught early, these infections remain serious. Cases of Severe Complications Lish's experience is not isolated. Another TikTok user, Hope, shared that a pimple in the same area led to a staph infection so severe it left a scar. Commenters online reported similar incidents, including hospitalizations and surgeries due to infections from popped facial pimples. In Australia, Stephanie Warkotsch's attempt to pop what she thought was a simple pimple revealed a growing sebaceous cyst that eventually required surgical removal after becoming infected. Expert Advice on Safe Care Dermatologists consistently advise against manipulating pimples in this high-risk zone. Dr. Mamina Turegano suggests in an Instagram video that if a blemish must be drained, it should be done with sterilized tools, minimal pressure, and preferably under professional supervision. Otherwise, she recommends using topical treatments, pimple patches, or consulting a dermatologist to prevent dangerous infections. As per the Cleveland Clinic, Dr. Alok Vij also stresses that avoiding popping pimples in the danger triangle minimizes risks of severe infection, scarring, and long-term facial complications. For minor blemishes, warm compresses, overnight zit stickers, or professional treatments can help manage them safely. Lish Marie noted that early medical attention saved her from more serious consequences. Within three days, she was fully recovered, though she emphasized the pain and risk involved in what seemed like a simple cosmetic choice.
Time of India
2 days ago
- Politics
- Time of India
Forget Canada! D.C. mayor taunts Trump, says US capital should be America's 51st state instead
Washington, D.C., Mayor Muriel Bowser has fiercely delivered a sharp rebuke to President Trump's unprecedented decision to take control of the city's police department and deploy National Guard troops, calling it a direct threat to the city's democratic autonomy. Seizing the moment to amplify her long-standing campaign for the District to become the 51st state. Bowser mentioned that only full independence can protect the rights of more than 700,000 residents. Federal takeover amid declining crime rates On August 11, 2025, Trump invoked Section 740 of the Home Rule Act , giving him authority to assume command of the Metropolitan Police Department and authorize the deployment of 800 National Guard members under Title 32 status. At present, between 100 and 200 guardsmen remain active, managing support functions such as traffic management and crowd control. They have no arrest powers. As per the law, the federal control is restricted to 30 days unless Congress votes to extend it. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program Trump justified the action by warning of the rise of violence in the city, but crime data presents a different angle. Washington, D.C., recorded a 35% drop in violent crime in 2024, and homicides have fallen by 26% in 2025. City officials credit targeted policing strategies and community programs for these declines, calling the president's move unnecessary and politically motivated. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Secure Your Child's Future with Strong English Fluency Planet Spark Learn More Undo Bowser calls it a Political Theater Labeling the takeover 'unsettling and unprecedented,' Bowser emphasized the intervention had little to do with public safety and more to do with political theater. She stressed that the city does not need federal oversight, but equal representation and control over its own governance. In a pointed jab, she quipped that the president 'doesn't have to look north to Canada for a fight — he's found one right here in the capital.' Partisan divide deepens The move has deepened partisan rifts. Democrats say the federal intervention is proof of why D.C. should become the 51st state, noting residents pay federal taxes and serve in the military yet have no voting representation in Congress. Republicans, however, support Trump's decision, mentioning recent high-profile crimes and accusing local leaders of being soft on enforcement. Congress has scheduled hearings to examine the city's safety record and governance. Live Events Guard's limited role Despite their visible presence of National Guard members across the city, their role is largely supportive. They are coordinating with logistics and crowd control but leaving law enforcement to the Metropolitan Police Department. Even during local coordination, the guardsmen have to finally answer the federal authority for the duration of the takeover. Statehood debate reignited This high-profile clash has reignited the debate for D.C. statehood . Past proposals, like the Washington, D.C. Admission Act has cleared the House but failed in the Senate. Advocates say statehood would end the capital's vulnerability to sudden federal control , while critics caution it could shift the political balance in Congress. What's next? The Federal control will end in early September unless extended. Legal experts are already weighing whether Trump's actions could face constitutional challenges over executive authority in a jurisdiction that is not a state. Bowser says her administration will continue ensuring safety while protecting the city's autonomy. 'Our residents deserve the same rights as everyone else,' she stated, insisting that true security will come not from federal oversight, but in full statehood for the District of Columbia. FAQs: Q1. Who is Muriel Bowser? A1. Muriel Bowser is the mayor of Washington, D.C. Q2. What is the Home Rule Act? A2. A law that grants D.C. a degree of self-governance but allows federal intervention in certain circumstances.
Time of India
2 days ago
- Health
- Time of India
Booze too is injurious to health! Record number of Americans are rejecting alcohol drinking. New trend rising in USA?
Fewer Americans are reporting that they drink alcohol amid a growing belief that even moderate alcohol consumption is a health risk, according to a Gallup poll released Wednesday. A record high percentage of U.S. adults, 53 per cent, now say moderate drinking is bad for their health, up from 28 per cent in 2015. The uptick in doubt about alcohol's benefits is largely driven by young adults — the age group that is most likely to believe drinking 'one or two drinks a day' can cause health hazards — but older adults are also now increasingly likely to think moderate drinking carries risks, as per a report. As concerns about health impacts rise, fewer Americans are reporting that they drink. The survey finds that 54 per cent of U.S. adults say they drink alcoholic beverages such as liquor, wine or beer. That's lower than at any other point in the past three decades. The findings of the poll, which was conducted in July, indicate that after years of many believing that moderate drinking was harmless — or even beneficial — worries about alcohol consumption are taking hold. According to Gallup's data, even those who consume alcohol are drinking less, AP reported. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program The federal government is updating new dietary guidelines, including those around alcohol. Before the COVID-19 pandemic, government data showed U.S. alcohol consumption was trending up. But other government surveys have shown a decline in certain types of drinking, particularly among teenagers and young adults. This comes alongside a new drumbeat of information about alcohol's risks. While moderate drinking was once thought to have benefits for heart health, health professionals in recent years have pointed to overwhelming evidence that alcohol consumption leads to negative health outcomes and is a leading cause of cancer. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Skepticism about Alcohol's Benefits Younger adults have been quicker than older Americans to accept that drinking is harmful, but older adults are coming around to the same view. About two-thirds of 18- to 34-year-olds believe moderate drinking is unhealthy, according to the poll, up from about 4 in 10 in 2015. Older adults are less likely to see alcohol as harmful — about half of Americans age 55 or older believe this — but that's a substantial increase, too. In 2015, only about 2 in 10 adults age 55 or older thought alcohol was bad for their health. Live Events In the past, moderate drinking was thought to have some benefits. That idea came from imperfect studies that largely didn't include younger people and couldn't prove cause and effect. Now the scientific consensus has shifted, and several countries recently lowered their alcohol consumption recommendations. Earlier this year, the outgoing U.S. surgeon general, Vivek Murthy, recommended a label on bottles of beer, wine and liquor that would clearly outline the link between alcohol consumption and cancer. The federal government's current dietary guidelines recommend Americans not drink or, if they do consume alcohol, men should limit themselves to two drinks a day or fewer while women should stick to one or fewer. Gallup's director of U.S. social research, Lydia Saad, said shifting health advice throughout older Americans' lives may be a reason they have been more gradual than young adults to recognize alcohol as harmful. The government is expected to release new guidelines later this year, under the directive of health secretary Robert F. Kennedy Jr., who has promised big changes. Kennedy has not hinted at how the alcohol recommendations may shift. Drinking Rates Fall to Decade Low Slightly more than half of Americans, 54 per cent, report that they drink alcohol — a low in Gallup's data that is especially pronounced among women and young adults. Young Americans' alcohol consumption has been trending downward for years, accelerating the overall decline in alcohol consumption. In sharp contrast with Gallup's findings two decades ago, when young adults were likeliest to report drinking, young adults' drinking rate is now slightly below middle-aged and older adults. Americans' reported drinking is among the lowest since the question was first asked in 1939. For most of the last few decades, at least 6 in 10 Americans have reported drinking alcoholic beverages, only dipping below that point a few times in the question's history. Americans are Consuming Less Even if concerns about health risks aren't causing some adults to give up alcohol entirely, these worries could be influencing how often they drink. The survey found that adults who think moderate drinking is bad for one's health are just as likely as people who don't share those concerns to report that they drink, but fewer of the people with health worries had consumed alcohol recently. About half of those who worry moderate drinking is unhealthy said they had a drink in the previous week, compared with about 7 in 10 who did not think drinking was bad for their health. Overall, only about one-quarter of Americans who drink said they had consumed alcohol in the prior 24 hours, a record low in the survey. Roughly 4 in 10 said that it had been more than a week since they had poured a drink. FAQs Q1. How much alcohol is considered safe to drink? A1. Moderate alcohol consumption is generally considered safe for most adults. According to health guidelines (like those from the CDC or WHO). Q2. What are the long-term effects of regular alcohol use? A2. Long-term or heavy alcohol use can lead to serious health issues, including: Liver damage (e.g., fatty liver, hepatitis, cirrhosis), Increased risk of heart disease, stroke, and high blood pressure, Increased risk of several cancers (e.g., mouth, liver, breast), Mental health problems like depression and anxiety, Dependence or alcohol use disorder (AUD).
