Latest news with #PankajPandey
Economic Times
02-08-2025
- Business
- Economic Times
No Iron Don to protect D-Street, indices slump 1% under US fire
India's equity indices ended almost 1% lower on Friday, marking their fifth straight week of losses-the longest losing streak in two years-as concerns over the fallout of US tariffs on Indian exports weighed on sentiment. ADVERTISEMENT The NSE Nifty fell 0.8% or 203 points to finish at 24,565.35. The BSE Sensex moved 0.7% or 585.67 points lower at 80,599.91. Both indices declined 1.1% in the past week. "The structural long-term trend is dictated by the earnings, which are around expectations; however, the challenge is the lack of enough clarity on the tariff front, and this uncertainty is expected to linger," said Pankaj Pandey, head of retail research at ICICI Direct. "From that perspective, the market is lacking a near-term trigger for a decisive move." The recent losing run, initially triggered by fatigue after a strong rebound, has been exacerbated by Donald Trump's announcement that the US will impose 25% tariffs on Indian exports, along with an additional non-tariff penalty for buying crude oil and military equipment from said a pullback was due after Nifty's surge from 22,000 levels to almost 25,700 levels in the last couple of months. ADVERTISEMENT "The five consecutive weeks of losses in Nifty were marked by foreign selling with the overseas investors remaining 90% short on index futures-a multi-month low that added selling pressure amid tariff imposition concerns," said Nilesh Jain, head of derivatives and technical research at Centrum are watching whether the Nifty is able to hold above a key support of 24,000. ADVERTISEMENT "A further dip towards the 200-day moving average of 24,000 levels could be a short-term bottom, and investors can accumulate quality stocks," said Jain. "A sharp and sustainable rebound is expected around 24,000 levels, but it may take some more time to materialise." The Nifty Midcap 150 and the Smallcap 250 indices declined 1.3% and 1.6%, respectively, on Friday. Out of the 4,169 shares traded on the BSE, 1,297 advanced, while 2,718 declined. In the past week, the mid-cap index shed 1.9% while the small-cap index tumbled 3%. ADVERTISEMENT Pharma stocks were among the top losers on reports that Trump has asked 17 of the world's biggest pharmaceutical majors to lower prices of existing drugs. Sun Pharmaceutical Industries tumbled 4.5% on Friday, emerging as the biggest loser on the index, after the first-quarter net profit fell 20%. The Nifty Pharma index dropped 3.3%Foreign portfolio investors (FPIs) sold shares worth a net of ₹3,366.4 crore on Friday. Their domestic counterparts bought shares worth ₹3,186.9 crore. In July, overseas investors dumped shares worth 38,214.5 crore- the highest selling since February this home, the Volatility Index or VIX-the market's fear gauge-gained 3.7% to almost 12 on Friday, indicating traders expect higher risks in the near term. ADVERTISEMENT Elsewhere in Asia, South Korea tumbled almost 4%, while Hong Kong and Japan fell 1.1% and 0.7%, respectively. China and Taiwan declined around 0.5% each.
Time of India
02-08-2025
- Business
- Time of India
No Iron Don to protect D-Street, indices slump 1% under US fire
India's equity indices ended almost 1% lower on Friday, marking their fifth straight week of losses-the longest losing streak in two years-as concerns over the fallout of US tariffs on Indian exports weighed on sentiment. The NSE Nifty fell 0.8% or 203 points to finish at 24,565.35. The BSE Sensex moved 0.7% or 585.67 points lower at 80,599.91. Both indices declined 1.1% in the past week. Explore courses from Top Institutes in Please select course: Select a Course Category MBA others healthcare Design Thinking MCA Management Operations Management CXO Project Management Healthcare Technology Product Management Data Science Digital Marketing Leadership Finance Data Analytics Data Science Public Policy Artificial Intelligence PGDM Others Degree Cybersecurity Skills you'll gain: Financial Management Team Leadership & Collaboration Financial Reporting & Analysis Advocacy Strategies for Leadership Duration: 18 Months UMass Global Master of Business Administration (MBA) Starts on May 13, 2024 Get Details Skills you'll gain: Analytical Skills Financial Literacy Leadership and Management Skills Strategic Thinking Duration: 24 Months Vellore Institute of Technology VIT Online MBA Starts on Aug 14, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Roof Repair or Replacement? Compare the Cost Now Roofing Services | Search Ads Learn More Undo "The structural long-term trend is dictated by the earnings, which are around expectations; however, the challenge is the lack of enough clarity on the tariff front, and this uncertainty is expected to linger," said Pankaj Pandey, head of retail research at ICICI Direct. "From that perspective, the market is lacking a near-term trigger for a decisive move." The recent losing run, initially triggered by fatigue after a strong rebound, has been exacerbated by Donald Trump's announcement that the US will impose 25% tariffs on Indian exports, along with an additional non-tariff penalty for buying crude oil and military equipment from Russia. Analysts said a pullback was due after Nifty's surge from 22,000 levels to almost 25,700 levels in the last couple of months. Live Events "The five consecutive weeks of losses in Nifty were marked by foreign selling with the overseas investors remaining 90% short on index futures-a multi-month low that added selling pressure amid tariff imposition concerns," said Nilesh Jain, head of derivatives and technical research at Centrum Broking. Traders are watching whether the Nifty is able to hold above a key support of 24,000. "A further dip towards the 200-day moving average of 24,000 levels could be a short-term bottom, and investors can accumulate quality stocks," said Jain. "A sharp and sustainable rebound is expected around 24,000 levels, but it may take some more time to materialise." The Nifty Midcap 150 and the Smallcap 250 indices declined 1.3% and 1.6%, respectively, on Friday. Out of the 4,169 shares traded on the BSE, 1,297 advanced, while 2,718 declined. In the past week, the mid-cap index shed 1.9% while the small-cap index tumbled 3%. Pharma stocks were among the top losers on reports that Trump has asked 17 of the world's biggest pharmaceutical majors to lower prices of existing drugs. Sun Pharmaceutical Industries tumbled 4.5% on Friday, emerging as the biggest loser on the index, after the first-quarter net profit fell 20%. The Nifty Pharma index dropped 3.3% Foreign portfolio investors (FPIs) sold shares worth a net of ₹3,366.4 crore on Friday. Their domestic counterparts bought shares worth ₹3,186.9 crore. In July, overseas investors dumped shares worth 38,214.5 crore- the highest selling since February this year. At home, the Volatility Index or VIX-the market's fear gauge-gained 3.7% to almost 12 on Friday, indicating traders expect higher risks in the near term. Elsewhere in Asia, South Korea tumbled almost 4%, while Hong Kong and Japan fell 1.1% and 0.7%, respectively. China and Taiwan declined around 0.5% each.
Economic Times
01-08-2025
- Automotive
- Economic Times
No structural negative in Indian pharma seen, FMCG companies chasing margin: Pankaj Pandey
Pankaj Pandey shares insights on various sectors. Pharma companies are focusing on specialty products. Generic drug pricing pressure is expected to continue. FMCG companies are shifting strategies to chase margins. Cement sector is showing better numbers. Hotel sector is also performing well. Auto sector is selectively positive. Food segment is expected to show double digit growth. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads , Head Research,, says Indian pharma companies are focusing on specialty products for growth. Generic drug pricing pressure is expected to continue. FMCG companies are shifting strategies to chase margins. Global sectors may face pressure, making FMCG a better trading option. The food segment is expected to show double digit growth. Indian pharma faces US exposure, but structural negatives are not expected.I do not have coverage on Swiggy or even Eternal and so would not be able to comment. But some of the numbers which I have liked like Ambuja are again talking of Rs 350 per tonne of improvement and the volume growth is higher than the industry. So, cement as a pack has been coming out with a better set of numbers. We have been liking most of them and then Chalet again came up with a very good set of numbers. So, it is not really comparable from a YoY basis, but if you look at the hotel piece specifically, we have seen a high teen kind of a growth in the revenues for hotel business, margins have improved, so that is fact, we like hotels as a pack and overall most of the numbers have come out on expected auto, we are selectively positive. In Maruti, again a muted set of numbers. The only reason we are positive on Maruti is because we are hopeful of the fact that probably in the festive season, even Maruti might be able to deliver better growth than the industry. That is the only Eicher Motors came out with a decent set of numbers and they are also looking quite constructively, especially in the festive season and TVS also came out with a good set of numbers. From that perspective, one needs to be very selective in the overall results. But the result in general is lacking the spark to lift the market higher and which is why we are continuing to see consolidation in the market because of tariff-related the pharma side, all global majors will have a lot more challenges given the fact that some of them are housed in Ireland which again is a tax haven and obviously there are some challenges with respect to pricing which is what Trump is domestic manufacturers or even for exporters, largely the template seems cut out. For example, most of the companies have started to focus on the speciality side, like we have seen in the case of Sun Pharma and their global specialty sales have grown at about 17 odd percent. Domestic growth was 14 odd percent. From that perspective, overall, our sense is that companies have started to become selective in terms of growth and generic is where we do not expect much of a pricing leeway that India can is why we are not too worried from that perspective because all these tariff related noises are going to continue for a good period of time even for countries which have done the trade deal. A lot of details are still not available. You cannot pencil down your numbers on this basis and mark down the the sense is that though Indian pharma is exposed to the US and a sizable chunk too, there are no major alternatives for generic medicines like what US might be expecting. So, from that perspective, a knee-jerk or sentimental reaction can happen. But we do not see a structural negative that is going to pan out in pharma the FMCG front, they have changed the template. Earlier the growth was driven by premiumisation which is where we have seen volume growth tapering off for even a big player like HUL and as a result, the margins were on an elevated they are looking to chase margins and which is why we have seen for a company like HUL, quarter-on-quarter volume incremental improvement of about a percent. So, my sense is again given the fact that some of the global oriented sectors are expected to witness some kind of a pressure, so your FMCG becomes a better trading I am still not very convinced in terms of a very high growth rate for this sector, and so a sum total both pricing and volume growth is still going to be low single digits or probably mid-single or slightly higher depending on the case but in general this sector is not expected to outperform. Selectively, we are positive on a company like say Tata Consumer or Marico . The food segment is again expected to deliver double digit kind of growth and that looks sustainable, otherwise one needs to be very selective in FMCG as overall space.
Time of India
01-08-2025
- Business
- Time of India
No structural negative in Indian pharma seen, FMCG companies chasing margin: Pankaj Pandey
Pankaj Pandey , Head Research, , says Indian pharma companies are focusing on specialty products for growth. Generic drug pricing pressure is expected to continue. FMCG companies are shifting strategies to chase margins. Global sectors may face pressure, making FMCG a better trading option. The food segment is expected to show double digit growth. Indian pharma faces US exposure, but structural negatives are not expected. How are you analysing some of these numbers? Let me start off with Swiggy. Seems like an impressive number this quarter. Pankaj Pandey: I do not have coverage on Swiggy or even Eternal and so would not be able to comment. But some of the numbers which I have liked like Ambuja are again talking of Rs 350 per tonne of improvement and the volume growth is higher than the industry. So, cement as a pack has been coming out with a better set of numbers. We have been liking most of them and then Chalet again came up with a very good set of numbers. So, it is not really comparable from a YoY basis, but if you look at the hotel piece specifically, we have seen a high teen kind of a growth in the revenues for hotel business, margins have improved, so that is another. Explore courses from Top Institutes in Please select course: Select a Course Category Data Analytics Operations Management Project Management Cybersecurity Public Policy PGDM MCA Design Thinking others Product Management Management Leadership Degree Data Science healthcare Artificial Intelligence Technology Finance Others Digital Marketing MBA Data Science Healthcare CXO Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Quote In fact, we like hotels as a pack and overall most of the numbers have come out on expected lines. In auto, we are selectively positive. In Maruti, again a muted set of numbers. The only reason we are positive on Maruti is because we are hopeful of the fact that probably in the festive season, even Maruti might be able to deliver better growth than the industry. That is the only thing. Otherwise, Eicher Motors came out with a decent set of numbers and they are also looking quite constructively, especially in the festive season and TVS also came out with a good set of numbers. From that perspective, one needs to be very selective in the overall results. But the result in general is lacking the spark to lift the market higher and which is why we are continuing to see consolidation in the market because of tariff-related challenges. Live Events You Might Also Like: A three-part deal with US can be explored; India unlikely to eliminate all tariffs on American exports: Sunil Subramaniam How is the entire pharma piece going to pan out? There are question marks on pharma prices, but yes, Trump has issued a very bold ultimatum to big pharma saying slash US drug prices or face consequences. Pankaj Pandey: On the pharma side, all global majors will have a lot more challenges given the fact that some of them are housed in Ireland which again is a tax haven and obviously there are some challenges with respect to pricing which is what Trump is highlighting. For domestic manufacturers or even for exporters, largely the template seems cut out. For example, most of the companies have started to focus on the speciality side, like we have seen in the case of Sun Pharma and their global specialty sales have grown at about 17 odd percent. Domestic growth was 14 odd percent. From that perspective, overall, our sense is that companies have started to become selective in terms of growth and generic is where we do not expect much of a pricing leeway that India can offer. That is why we are not too worried from that perspective because all these tariff related noises are going to continue for a good period of time even for countries which have done the trade deal. A lot of details are still not available. You cannot pencil down your numbers on this basis and mark down the prices. Overall the sense is that though Indian pharma is exposed to the US and a sizable chunk too, there are no major alternatives for generic medicines like what US might be expecting. So, from that perspective, a knee-jerk or sentimental reaction can happen. But we do not see a structural negative that is going to pan out in pharma overall. You Might Also Like: IT and pharma out of picture at present; FMCG turning out to be the only defensive play: Rohit Srivastava What about the FMCG space? It started out in terms of earnings rather softly, but it has been surprising the last couple of days for FMCG counters like HUL which has come out with a strong set of numbers. Dabur has done phenomenally well, so has Emami . It is mostly the rural facing themes that are doing better than the urban ones right now. What is your take on the demand uptake we are seeing? Pankaj Pandey: On the FMCG front, they have changed the template. Earlier the growth was driven by premiumisation which is where we have seen volume growth tapering off for even a big player like HUL and as a result, the margins were on an elevated level. Now they are looking to chase margins and which is why we have seen for a company like HUL, quarter-on-quarter volume incremental improvement of about a percent. So, my sense is again given the fact that some of the global oriented sectors are expected to witness some kind of a pressure, so your FMCG becomes a better trading bet. Somehow, I am still not very convinced in terms of a very high growth rate for this sector, and so a sum total both pricing and volume growth is still going to be low single digits or probably mid-single or slightly higher depending on the case but in general this sector is not expected to outperform. Selectively, we are positive on a company like say Tata Consumer or Marico . The food segment is again expected to deliver double digit kind of growth and that looks sustainable, otherwise one needs to be very selective in FMCG as overall space.
Business Recorder
31-07-2025
- Business
- Business Recorder
Indian shares trim losses as investors see US tariff threat as bargaining chip
Indian benchmark stock indexes trimmed losses on Thursday, recovering from a sharp drop in early trade, as investors viewed the U.S. tariff threat as a pressure tactic and hoped for lower rates once negotiations conclude. The Nifty 50 fell 0.35% to 24,768.35 points and the BSE Sensex lost 0.36% to 81,185.58. The benchmarks fell nearly 1% in morning trade after U.S. President Donald Trump announced 25% tariffs on India, along with an unspecified penalty, from August 1, and added that the U.S. is still negotiating with the Asian country on trade. Pankaj Pandey, head of retail research at ICICI Securities, said the initial market reaction was knee-jerk. The intraday recovery indicates that the 'market is thinking of this as a pressure tactic. Something similar happened with South Korea, which reached a deal with the U.S. today at much lower 15% tariffs', he said. Nomura too said the elevated tariffs were unlikely to be permanent, and that the best-case outcome would be tariffs in the range of 15%-20%. India's equity benchmarks little changed ahead of Fed decision; tariff worries linger Fourteen of the 16 major sectors ended lower on the day. The broader mid-caps and small-caps lost about 1% each. For the month, the benchmark indexes fell about 3% each, and the broader market underperformed, on persistent selling by foreign investors and as investors digested lacklustre earnings from IT companies and most financials. Textile manufacturers such as Welspun Living, Vardhman Textiles, KPR Mills and Gokaldas Exports lost between 3.2% and 5.1% on the day, and were the worst hit by Trump's tariff threat. Adani Enterprises lost 4% after posting a drop in first-quarter profit due to weak coal demand. Consumer goods sector jumped 1.4% and was the biggest sectoral gainer, led by heavyweight Hindustan Unilever. The company added 3.4% after rural demand recovery and portfolio revamp supported its first quarter earnings. Graphite electrode maker HEG gained 7.3% after posting a multi-fold jump in first-quarter profit.
