Latest news with #PradeepGupta
Time of India
3 days ago
- Time of India
FIRs filed against 67 for wrong-side driving in D'vli
Kalyan: Manpada police registered FIRs against 67 motorists for driving on the wrong side of Kalyan-Shil Road on Wednesday based on video footage provided by Dombivli traffic police. Due to the Metro 12 (Kalyan-Taloja) work, the area has been witnessing severe traffic snarls. On Wednesday evening, traffic police inspector Sachin Shanbhor received an alert about congestion near Manpada junction. He noticed several motorists driving on the wrong side of the road to avoid the traffic jam and causing congestion in the opposite direction. He told his staff to shoot videos of the violators and file a police complaint. — Pradeep Gupta
Time of India
20-05-2025
- Time of India
Floor collapses during repair in Kalyan bldg, leaves 6 dead
Kalyan: Six people died Tuesday afternoon while 6 were left injured, 2 of them seriously, after a 6-foot-wide concrete slab from a fourth-floor flat in a 31-year-old Kalyan (E) building partially collapsed right to the ground floor. Police suspect that the slab at Saptashrungi building in Karpewadi area collapsed during ongoing flooring repair work in the hall of a flat, reports Pradeep Gupta. KDMC's deputy municipal commissioner Awdhoot Tawade said while the building was not on the list of 513 dangerous structures in Kalyan-Dombivli, four days ago, KDMC staff had visited it and observed it was not in a fit condition to live in, and asked the building residents to get a structural audit done. Locals said upon hearing the deafening noise of the crash, they alerted the ward officer as well as the Kolsewadi police, who arrived at the spot within a few minutes The six deceased in the Kalyan building's fourth-floor slab collapse have been identified as Pramila Sahu (56) and her daughters Sunita Sahu (38) and Sujata Padhi (32), two-year-old Namashri Shelar and her grandmother's sister Sushila Gujar (78), and Vyankat Chavan (42). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 임플란트 36만원 아니면 전화 끊으셔도 됩니다 과잉진료 없는 치과 지금 예약 Undo Chavan was one of the two daily wage workers engaged in flooring repair work at the fourth-floor flat. Namashri and her mother were visiting Gujar when tragedy struck. Five of the victims are female and one male, as the incident took place around 1.45pm when most men were out at work. Most residents of the building do odd jobs for a living. Chief minister Devendra Fadnavis has announced Rs 5 lakh compensation to each family of the deceased. BJP's state executive president Ravindra Chavan visited the spot and instructed KDMC to make temporary arrangements for the stay of all affected families. Locals said after the incident, the other residents immediately rushed out of the building through the staircase. The rescue team faced difficulty in reaching the site since the building is situated in the middle of a slum pocket and has no direct access to the road. The team later rescued two injured individuals while six others who were sent to hospitals were declared dead on arrival. The six injured are undergoing treatment at two different private hospitals. The rescue operation continued until 6.30pm, after which KDMC continued removing belongings of residents with the intention to seal the building thereafter so that it could be demolished to avoid any further mishaps, also considering it is situated in the middle of slums. Rain caused difficulty during the rescue operation while the police were seen controlling the crowds that had gathered at the site. The building had around 40 flats; most residents lived in their own flats while a few were on rent. After the incident, KDMC has appealed to residents of the 513 dangerous buildings to vacate or else they will have to use police force. They have also appealed to other buildings like Saptashrungi, which are not on the dangerous buildings list, to get a structural audit done immediately. Kalyanji Ghete, assistant commissioner of police, said, "Six persons died and six are injured. The process of registration of an accidental death report is also on. The team will record residents' statements to find out the reason behind the accident, and as per the findings, further action will be taken." Santosh Gupta
Economic Times
02-05-2025
- Business
- Economic Times
ETMarkets Smart Talk: Gold is more than a safe haven now - Pradeep Gupta on the rise of a new asset class leader
In this edition of ETMarkets Smart Talk, we catch up with Pradeep Gupta, Executive Director and India Head of Investment at Lighthouse Canton, to decode the shifting dynamics in global markets. Amid rising geopolitical tensions, volatile equity markets, and weakening confidence in traditional safe havens, gold has emerged not just as a hedge—but as a serious contender for alpha generation. Gupta shares why gold's role in portfolios is evolving, how macroeconomic uncertainties and central bank actions are fuelling its rise, and what investors should keep in mind while allocating to this asset. From equity allocations to FII flows and small-cap strategies, he also outlines the key factors driving investment decisions in FY26. Edited Excerpts – ADVERTISEMENT Q) Thanks for taking the time out. We are seeing some volatile swings in the markets, thanks to the back-and-forth from Trump on tariffs and now some geopolitical concerns amid tensions between India and Pakistan. How are you looking at all this?A) We are in the camp that these elevated tariffs may not really sustain for long, and a middle path via trade negotiations will eventually come into play. India has already started on a positive note on that front. We expect much of the concerns around tariffs to start settling in 2nd half of this year. As far as escalating tensions between India & Pak are considered, it remains a wait & watch mode for now. Markets will remain cautious & volatile in coming few days. Historically speaking, Indian markets have never experienced a correction of more than 2% during times of elevated tension with Pakistan except for 2001 parliament attack (got amplified due to correction in S&P 500).One will have to assess the balance between restraint & course of action. There are still many unknowns & overall sentiments will get anchored accordingly. ADVERTISEMENT While we don't envisage a prolonged impact for now, things can escalate very quickly & so will be the impact on overall markets.Q) It looks like we have entered a low-interest-rate environment. What should the asset allocation strategy be for an individual in the age bracket of 30–40 years?A) Investors within this age bucket should/ or rather are better placed with growth orientation in their overall portfolio construct. ADVERTISEMENT A 70%-20%-10% portfolio between Equity (comprising of global equities), Debt & Gold will be a prudent one to move ahead with. Q) What is your take on the results that have come out from India Inc., and what are your expectations for the next few quarters? ADVERTISEMENT A) While the earnings announcements are still underway, we were of the view that profit growth is likely to remain weak as we head into this quarter as earnings growth is likely to be between 4%-5% (excluding OMC's & Metal) thus providing a low base for the earnings as head into new fiscal. We expect Y-o-Y top line growth to be anywhere between 5%-6% range for ongoing quarter. Our expectations are that NIFTY earning is likely to grow between 12%-13% for the next 2 years. ADVERTISEMENT Q) How should one be looking at the small- and mid-cap space in FY26?A) Selectivity is the need of the hour. Given the widespread distortion (nearly 55% of the small cap universe is down by 50% or more), it eventually comes down to bottom up/ selective with ongoing corrections, small cap as a segment trades above historical average thus not imparting sizeable entry cushion. Market Cap-to-PAT ratio is still 50% above the historical clearly, there is a merit in buying into ongoing correction of this magnitude as suggested historically as well. We would advise to closely watch out for market liquidity while secularity and durability of earnings profile with quality centricity are the small cap idea pool one should look to take exposure driven stock rally is behind us while any material BETA offtake must be done gradually. Q) Where is the value in the market after the recent fall we have seen? A) Quite clearly, Large cap space given that valuations are back to historical average along with downside cushion that eventually comes into play till macroeconomic stability kicks is trading at a P/B multiple of 2.7x on a 1 year forward basis & a 1 year forward PE of 18x which is closer to its long-term averages. On an earnings yield to bond yield ratio, NIFTY has started to look far as the SMID segment is concerned, it's not a blanket call yet but select pockets have started to look a top-down perspective, staples & discretionary consumption part of the opportunity appears to be well poised given the expectations around normal monsoon, tax rebate, rural recovery 60% of our GDP is domestic oriented which is relatively shielded from tariff & remains resilient. In addition, current valuation comfort offers an attractive entry point. We continue to be positive on banks, domestic healthcare Pharma (minus US generics) as well. Q) Gold is back in the limelight as it hit the Rs 1 lakh mark in the physical market. Is it no longer just a safe haven but also a money-making machine? It has been outperforming equities for the past couple of years. A) That's precisely how Gold as an asset class has moved over the course of last few years. While its difficult to call out the top even though not so conventional valuation template like BSE Sensex -GOLD ratio stands at 1.06 times vis-à-vis its long-term average of us, gold remains one of the most well-placed hedging mechanisms against potential risk emanating from combination of stagflation, recession, debasement and US policy risks facing macro environment remains perfectly poised for both sustained & elevated levels of purchases by central banks (nearly 900 tonnes forecasted in 2025) coupled with a further expansion in investor holdings, particularly from ETFs and central banks, the combination of economic, trade, and US policy uncertainty along with unpredictable geopolitical distortions will continue to maintain gold buying. Current tailwind also gained momentum as confidence in other safe havens has been shaken to a large extent. Q) How are FIIs viewing Indian markets? We have seen some net buying in the past few sessions, but for the month, FIIs have pulled out more than Rs 13,000 crore from the cash segment of Indian equity markets. A) FII's behaviour thus far aren't quite reflective of overall India positioning as we speak. They are currently underweight India. Larger part of the excesses has been taken out from Indian are back to neutral territory & have started to look attractive. India now trades at a premium of 75% to the EM Index- not too far from long-term averages of 61%. NIFTY still holds an earnings projection of 12%-13% for the next 2 is off its peak with weakening USD. India continues to be in a better position as against China when it comes to tariff related turmoil. We expect the flow rotation from China to India to start taking place soon while overall intensity of FII selling is also likely to start coming down. Q) Have you made any changes to your strategy or portfolio to balance out the volatility arising from external factors such as tariffs or geopolitical concerns? A) Portfolio manoeuvring does become complex and tricky during times like this. However, it is important to remain rational and have a fair assessment of where one weren't comfortable with the valuations, cyclical slowdown, and the deteriorating earnings landscape in India. Consequently, we started pruning BETA exposure and, in parallel, ring-fenced client portfolios with a quality tilt by investing in defensive names with solid earnings material exposure to narrative stocks was exited where the fundamentals weren't quite in the magnitude of the correction India has witnessed and valuations for large caps returning to neutral territory, we have once again started building exposure for clients, albeit even more selectively for mid and small exposure with export orientation or sensitive to tariff related turmoil has been pruned gradually. It will be a while before the dust settles on the ongoing global turmoil due to the tariff are in the camp that these tariffs may not really sustain for long, and a middle path via trade negotiations will eventually come into are a whole lot of moving variables in play as we speak, thus warranting caution- but not necessarily panic. Quality centricity is the need of the hour, and we would look to judiciously deploy as the macroeconomic distortions start taking concrete shape. (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
02-05-2025
- Business
- Time of India
ETMarkets Smart Talk: Gold is more than a safe haven now - Pradeep Gupta on the rise of a new asset class leader
In this edition of ETMarkets Smart Talk, we catch up with Pradeep Gupta , Executive Director and India Head of Investment at Lighthouse Canton, to decode the shifting dynamics in global markets. Amid rising geopolitical tensions, volatile equity markets, and weakening confidence in traditional safe havens, gold has emerged not just as a hedge—but as a serious contender for alpha generation. Gupta shares why gold's role in portfolios is evolving, how macroeconomic uncertainties and central bank actions are fuelling its rise, and what investors should keep in mind while allocating to this asset. From equity allocations to FII flows and small-cap strategies, he also outlines the key factors driving investment decisions in FY26. Edited Excerpts – Q) Thanks for taking the time out. We are seeing some volatile swings in the markets, thanks to the back-and-forth from Trump on tariffs and now some geopolitical concerns amid tensions between India and Pakistan. How are you looking at all this? A) We are in the camp that these elevated tariffs may not really sustain for long, and a middle path via trade negotiations will eventually come into play. India has already started on a positive note on that front. We expect much of the concerns around tariffs to start settling in 2nd half of this year. As far as escalating tensions between India & Pak are considered, it remains a wait & watch mode for now. Markets will remain cautious & volatile in coming few days. Historically speaking, Indian markets have never experienced a correction of more than 2% during times of elevated tension with Pakistan except for 2001 parliament attack (got amplified due to correction in S&P 500). One will have to assess the balance between restraint & course of action. There are still many unknowns & overall sentiments will get anchored accordingly. While we don't envisage a prolonged impact for now, things can escalate very quickly & so will be the impact on overall markets. Q) It looks like we have entered a low-interest-rate environment. What should the asset allocation strategy be for an individual in the age bracket of 30–40 years? A) Investors within this age bucket should/ or rather are better placed with growth orientation in their overall portfolio construct. A 70%-20%-10% portfolio between Equity (comprising of global equities), Debt & Gold will be a prudent one to move ahead with. Q) What is your take on the results that have come out from India Inc., and what are your expectations for the next few quarters? A) While the earnings announcements are still underway, we were of the view that profit growth is likely to remain weak as we head into this quarter as well. FY25 earnings growth is likely to be between 4%-5% (excluding OMC's & Metal) thus providing a low base for the earnings as head into new fiscal. We expect Y-o-Y top line growth to be anywhere between 5%-6% range for ongoing quarter. Our expectations are that NIFTY earning is likely to grow between 12%-13% for the next 2 years. Q) How should one be looking at the small- and mid-cap space in FY26? A) Selectivity is the need of the hour. Given the widespread distortion (nearly 55% of the small cap universe is down by 50% or more), it eventually comes down to bottom up/ selective pickings. Even with ongoing corrections, small cap as a segment trades above historical average thus not imparting sizeable entry cushion. Market Cap-to-PAT ratio is still 50% above the historical median. But clearly, there is a merit in buying into ongoing correction of this magnitude as suggested historically as well. We would advise to closely watch out for market liquidity while secularity and durability of earnings profile with quality centricity are the small cap idea pool one should look to take exposure into. Narrative driven stock rally is behind us while any material BETA offtake must be done gradually. Q) Where is the value in the market after the recent fall we have seen? A) Quite clearly, Large cap space given that valuations are back to historical average along with downside cushion that eventually comes into play till macroeconomic stability kicks in. Nifty is trading at a P/B multiple of 2.7x on a 1 year forward basis & a 1 year forward PE of 18x which is closer to its long-term averages. On an earnings yield to bond yield ratio, NIFTY has started to look attractive. As far as the SMID segment is concerned, it's not a blanket call yet but select pockets have started to look attractive. From a top-down perspective, staples & discretionary consumption part of the opportunity appears to be well poised given the expectations around normal monsoon, tax rebate, rural recovery etc. Nearly 60% of our GDP is domestic oriented which is relatively shielded from tariff & remains resilient. In addition, current valuation comfort offers an attractive entry point. We continue to be positive on banks, domestic healthcare Pharma (minus US generics) as well. Q) Gold is back in the limelight as it hit the Rs 1 lakh mark in the physical market. Is it no longer just a safe haven but also a money-making machine? It has been outperforming equities for the past couple of years. A) That's precisely how Gold as an asset class has moved over the course of last few years. While its difficult to call out the top even though not so conventional valuation template like BSE Sensex -GOLD ratio stands at 1.06 times vis-à-vis its long-term average of 0.70. For us, gold remains one of the most well-placed hedging mechanisms against potential risk emanating from combination of stagflation, recession, debasement and US policy risks facing markets. The macro environment remains perfectly poised for both sustained & elevated levels of purchases by central banks (nearly 900 tonnes forecasted in 2025) coupled with a further expansion in investor holdings, particularly from ETFs and China. For central banks, the combination of economic, trade, and US policy uncertainty along with unpredictable geopolitical distortions will continue to maintain gold buying. Current tailwind also gained momentum as confidence in other safe havens has been shaken to a large extent. Q) How are FIIs viewing Indian markets? We have seen some net buying in the past few sessions, but for the month, FIIs have pulled out more than Rs 13,000 crore from the cash segment of Indian equity markets. A) FII's behaviour thus far aren't quite reflective of overall India positioning as we speak. They are currently underweight India. Larger part of the excesses has been taken out from Indian markets. Valuations are back to neutral territory & have started to look attractive. India now trades at a premium of 75% to the EM Index- not too far from long-term averages of 61%. NIFTY still holds an earnings projection of 12%-13% for the next 2 years. DXY is off its peak with weakening USD. India continues to be in a better position as against China when it comes to tariff related turmoil. We expect the flow rotation from China to India to start taking place soon while overall intensity of FII selling is also likely to start coming down. Q) Have you made any changes to your strategy or portfolio to balance out the volatility arising from external factors such as tariffs or geopolitical concerns? A) Portfolio manoeuvring does become complex and tricky during times like this. However, it is important to remain rational and have a fair assessment of where one stands. We weren't comfortable with the valuations, cyclical slowdown, and the deteriorating earnings landscape in India. Consequently, we started pruning BETA exposure and, in parallel, ring-fenced client portfolios with a quality tilt by investing in defensive names with solid earnings trajectories. Any material exposure to narrative stocks was exited where the fundamentals weren't quite in sync. Given the magnitude of the correction India has witnessed and valuations for large caps returning to neutral territory, we have once again started building exposure for clients, albeit even more selectively for mid and small caps. Any exposure with export orientation or sensitive to tariff related turmoil has been pruned gradually. It will be a while before the dust settles on the ongoing global turmoil due to the tariff war. We are in the camp that these tariffs may not really sustain for long, and a middle path via trade negotiations will eventually come into play. There are a whole lot of moving variables in play as we speak, thus warranting caution- but not necessarily panic. Quality centricity is the need of the hour, and we would look to judiciously deploy as the macroeconomic distortions start taking concrete shape.
Time of India
01-05-2025
- Business
- Time of India
Rs 37,600 crore in 11 days! FIIs are flooding Indian stocks with cash but will it last?
For 11 straight sessions, foreign investors have been on a stock-buying spree in India, pumping a staggering Rs 37,600 crore into local equities. It's the kind of bullish streak that turns heads on Dalal Street—and it's happening as the rupee flexes its muscles and the dollar shows signs of fatigue. The Indian currency soared 77 paise against the greenback on Wednesday, closing at a five-month high of 84.49. That's the sharpest single-day gain since November 2022. The tailwinds? A cooling crude oil market and this relentless wave of foreign institutional investor (FII) inflows. The mood in the global macro theater is adding to the India cheer. According to Emkay Global , 'The DXY correction of ~10% from its peak is meaningful, now below 100 after 100 days of Trump's tumultuous tenure. Tariff risks appear largely priced in, with the path ahead skewed toward constructive trade negotiations broadly favorable for India.' Emkay also noted that the majority of their clients 'concurred with our positive view on India. The RBI easing puts India in a more favorable cyclical position, especially as worries around a deep recession in the US abate. This is also resulting in India seeing disproportionate flows vs other emerging markets.' Also read | Nifty traders, don't sell in May - just sway. Here's why the May myth crashes on Dalal Street That conviction is showing up in the numbers—and the narrative. 'Valuations are back to neutral territory & have started to look attractive,' said Pradeep Gupta, Executive Director and India Head of Investment at Lighthouse Canton. 'India now trades at a premium of 75% to the EM Index—not too far from long-term averages of 61%.' Gupta added that while FIIs remain underweight on India for now, that positioning may not hold for long. 'We expect the flow rotation from China to India to start taking place soon, while overall intensity of FII selling is also likely to start coming down.' The weakness of the dollar and India's macro resilience have turned the country into a magnet for global capital. 'FIIs are positive on the India story,' said Vikram Kasat, Head of Advisory at PL Capital, 'but they remain cautious about high valuations.' With India still trading at a premium to its EM peers, foreign investors are zeroing in on quality names and sectors, steering clear of indiscriminate buying. Still, this doesn't look like hot money just passing through. The sustained inflows suggest conviction—especially in the face of tepid Q4 earnings and geopolitical tensions with Pakistan. Vinod Nair, Head of Research at Geojit Investments, struck a balanced note. 'The broad market performed well this month, driven by reduced tariff risks, a potential US-India trade deal, and strong FII inflows ,' he said. 'However, momentum is being capped by rising tensions between India and Pakistan and muted Q4 results. This negative bias is expected to persist in the near term... but the long-term outlook remains positive.' The Rs 37,600 crore question: Is this a lasting trend or just a tactical bet? For now, the smart money is betting on India—and not looking back.
