Latest news with #RMS
Yahoo
3 days ago
- Business
- Yahoo
TG Therapeutics Announces Data Presentations for BRIUMVI in Multiple Sclerosis at the 2025 Consortium of Multiple Sclerosis Centers Annual Meeting
NEW YORK, May 30, 2025 (GLOBE NEWSWIRE) -- TG Therapeutics, Inc. (NASDAQ: TGTX), today announced the presentations of data highlighting BRIUMVI® (ublituximab-xiiy) in patients with relapsing forms of multiple sclerosis (RMS), at the 2025 Consortium of Multiple Sclerosis Centers (CMSC) annual meeting. Links to each presentation are included below. 'We were pleased to present three encore presentations yesterday during the CMSC conference. We continue to be impressed by the BRIUMVI data and look forward to continuing to present updated data throughout the year.'TG PRESENTATIONS:Title: No Association between Decreases in Serum Immunoglobulin Levels and Serious Infections with Long-Term Ublituximab Treatment in Patients with Relapsing Multiple Sclerosis Presenting Author: Dr. Bruce Cree - Weill Institute for Neurosciences, University of California, San Francisco, CA Title: Retrospective Evaluation of Infusion Tolerability: Ublituximab Real-World Observational Survey (ENAMOR) Presenting Author: Dr. Edward Fox – TG Therapeutics - National Physician Liaison – VP, MS Global Operations Title: Safety and Tolerability of 30-Minute Ublituximab Infusions: Updates from the ENHANCE Study Presenting Author: Dr. John Foley – Rocky Mountain Multiple Sclerosis, Salt Lake City, Utah Following the presentations, the data presented will be available on the Publications page, located within the Pipeline section, of the Company's website at ABOUT THE ULTIMATE I & II PHASE 3 TRIALSULTIMATE I & II are two randomized, double-blind, double-dummy, parallel group, active comparator-controlled clinical trials of identical design, in patients with RMS treated for 96 weeks. Patients were randomized to receive either BRIUMVI, given as an IV infusion of 150 mg administered in four hours, 450 mg two weeks after the first infusion administered in one hour, and 450 mg every 24 weeks administered in one hour, with oral placebo administered daily; or teriflunomide, the active comparator, given orally as a 14 mg daily dose with IV placebo administered on the same schedule as BRIUMVI. Both studies enrolled patients who had experienced at least one relapse in the previous year, two relapses in the previous two years, or had the presence of a T1 gadolinium (Gd)-enhancing lesion in the previous year. Patients were also required to have an Expanded Disability Status Scale (EDSS) score from 0 to 5.5 at baseline. The ULTIMATE I & II trials enrolled a total of 1,094 patients with RMS across 10 countries. These trials were led by Lawrence Steinman, MD, Zimmermann Professor of Neurology & Neurological Sciences, and Pediatrics at Stanford University. Additional information on these clinical trials can be found at (NCT03277261; NCT03277248). ABOUT BRIUMVI® (ublituximab-xiiy) 150 mg/6 mL Injection for IVBRIUMVI is a novel monoclonal antibody that targets a unique epitope on CD20-expressing B-cells. Targeting CD20 using monoclonal antibodies has proven to be an important therapeutic approach for the management of autoimmune disorders, such as RMS. BRIUMVI is uniquely designed to lack certain sugar molecules normally expressed on the antibody. Removal of these sugar molecules, a process called glycoengineering, allows for efficient B-cell depletion at low doses. BRIUMVI is indicated for the treatment of adults with relapsing forms of multiple sclerosis (RMS), to include clinically isolated syndrome, relapsing- remitting disease, and active secondary progressive disease. A list of authorized specialty distributors can be found at IMPORTANT SAFETY INFORMATIONContraindications: BRIUMVI is contraindicated in patients with: Active Hepatitis B Virus infection A history of life-threatening infusion reaction to BRIUMVI WARNINGS AND PRECAUTIONS Infusion Reactions: BRIUMVI can cause infusion reactions, which can include pyrexia, chills, headache, influenza-like illness, tachycardia, nausea, throat irritation, erythema, and an anaphylactic reaction. In MS clinical trials, the incidence of infusion reactions in BRIUMVI-treated patients who received infusion reaction-limiting premedication prior to each infusion was 48%, with the highest incidence within 24 hours of the first infusion. 0.6% of BRIUMVI-treated patients experienced infusion reactions that were serious, some requiring hospitalization. Observe treated patients for infusion reactions during the infusion and for at least one hour after the completion of the first two infusions unless infusion reaction and/or hypersensitivity has been observed in association with the current or any prior infusion. Inform patients that infusion reactions can occur up to 24 hours after the infusion. Administer the recommended pre-medication to reduce the frequency and severity of infusion reactions. If life-threatening, stop the infusion immediately, permanently discontinue BRIUMVI, and administer appropriate supportive treatment. Less severe infusion reactions may involve temporarily stopping the infusion, reducing the infusion rate, and/or administering symptomatic treatment. Infections: Serious, life-threatening or fatal, bacterial and viral infections have been reported in BRIUMVI-treated patients. In MS clinical trials, the overall rate of infections in BRIUMVI-treated patients was 56% compared to 54% in teriflunomide-treated patients. The rate of serious infections was 5% compared to 3% respectively. There were 3 infection-related deaths in BRIUMVI-treated patients. The most common infections in BRIUMVI- treated patients included upper respiratory tract infection (45%) and urinary tract infection (10%). Delay BRIUMVI administration in patients with an active infection until the infection is resolved. Consider the potential for increased immunosuppressive effects when initiating BRIUMVI after immunosuppressive therapy or initiating an immunosuppressive therapy after BRIUMVI. HBV reactivation occurred in an MS patient treated with BRIUMVI in clinical trials. Fulminant hepatitis, hepatic failure, and death caused by HBV reactivation have occurred in patients treated with anti-CD20 antibodies. Perform HBV screening in all patients before initiation of treatment with BRIUMVI. Do not start treatment with BRIUMVI in patients with active HBV confirmed by positive results for HB surface antigen (HBsAg) and anti-HB tests. For patients who are negative for HBsAg and positive for HB core antibody [HBcAb+] or are carriers of HBV [HBsAg+], consult a liver disease expert before starting and during treatment. Although no cases of PML have occurred in BRIUMVI-treated MS patients, JCV infection resulting in PML has been observed in patients treated with other anti-CD20 antibodies and other MS therapies. If PML is suspected, withhold BRIUMVI and perform an appropriate diagnostic evaluation. Typical symptoms associated with PML are diverse, progress over days to weeks, and include progressive weakness on one side of the body or clumsiness of limbs, disturbance of vision, and changes in thinking, memory, and orientation leading to confusion and personality changes. MRI findings may be apparent before clinical signs or symptoms; monitoring for signs consistent with PML may be useful. Further investigate suspicious findings to allow for an early diagnosis of PML, if present. Following discontinuation of another MS medication associated with PML, lower PML-related mortality and morbidity have been reported in patients who were initially asymptomatic at diagnosis compared to patients who had characteristic clinical signs and symptoms at diagnosis. If PML is confirmed, treatment with BRIUMVI should be discontinued. Administer all immunizations according to immunization guidelines: for live or live-attenuated vaccines at least 4 weeks and, whenever possible at least 2 weeks prior to initiation of BRIUMVI for non-live vaccines. BRIUMVI may interfere with the effectiveness of non-live vaccines. The safety of immunization with live or live-attenuated vaccines during or following administration of BRIUMVI has not been studied. Vaccination with live virus vaccines is not recommended during treatment and until B-cell repletion. In infants of mothers exposed to BRIUMVI during pregnancy, assess B-cell counts prior to administration of live or live-attenuated vaccines as measured by CD19+ B-cells. Depletion of B-cells in these infants may increase the risks from live or live-attenuated vaccines. Inactivated or non-live vaccines may be administered prior to B-cell recovery. Assessment of vaccine immune responses, including consultation with a qualified specialist, should be considered to determine whether a protective immune response was mounted. Fetal Risk: Based on data from animal studies, BRIUMVI may cause fetal harm when administered to a pregnant woman. Transient peripheral B-cell depletion and lymphocytopenia have been reported in infants born to mothers exposed to other anti-CD20 B-cell depleting antibodies during pregnancy. A pregnancy test is recommended in females of reproductive potential prior to each infusion. Advise females of reproductive potential to use effective contraception during BRIUMVI treatment and for 6 months after the last dose. Reduction in Immunoglobulins: As expected with any B-cell depleting therapy, decreased immunoglobulin levels were observed. Decrease in immunoglobulin M (IgM) was reported in 0.6% of BRIUMVI-treated patients compared to none of the patients treated with teriflunomide in RMS clinical trials. Monitor the levels of quantitative serum immunoglobulins during treatment, especially in patients with opportunistic or recurrent infections, and after discontinuation of therapy until B-cell repletion. Consider discontinuing BRIUMVI therapy if a patient with low immunoglobulins develops a serious opportunistic infection or recurrent infections, or if prolonged hypogammaglobulinemia requires treatment with intravenous immunoglobulins. Most Common Adverse Reactions: The most common adverse reactions in RMS trials (incidence of at least 10%) were infusion reactions and upper respiratory tract infections. Physicians, pharmacists, or other healthcare professionals with questions about BRIUMVI should visit ABOUT BRIUMVI PATIENT SUPPORTBRIUMVI Patient Support is a flexible program designed by TG Therapeutics to support U.S. patients through their treatment journey in a way that works best for them. More information about the BRIUMVI Patient Support program can be accessed at ABOUT MULTIPLE SCLEROSISRelapsing multiple sclerosis (RMS) is a chronic demyelinating disease of the central nervous system (CNS) and includes people with relapsing- remitting multiple sclerosis (RRMS) and people with secondary progressive multiple sclerosis (SPMS) who continue to experience relapses. RRMS is the most common form of multiple sclerosis (MS) and is characterized by episodes of new or worsening signs or symptoms (relapses) followed by periods of recovery. It is estimated that nearly 1 million people are living with MS in the United States and approximately 85% are initially diagnosed with RRMS.1,2 The majority of people who are diagnosed with RRMS will eventually transition to SPMS, in which they experience steadily worsening disability over time. Worldwide, more than 2.3 million people have a diagnosis of MS.1 ABOUT TG THERAPEUTICSTG Therapeutics is a fully integrated, commercial stage, biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for B-cell diseases. In addition to a research pipeline including several investigational medicines, TG has received U.S. Food and Drug Administration (FDA) approval for BRIUMVI® (ublituximab-xiiy), for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, as well as approval by the European Commission (EC) and the Medicines and Healthcare Products Regulatory Agency (MHRA) for BRIUMVI to treat adult patients with RMS who have active disease defined by clinical or imaging features in Europe and the United Kingdom, respectively. For more information, visit and follow us on X (formerly Twitter) @TGTherapeutics and on LinkedIn. BRIUMVI® is a registered trademark of TG Therapeutics, Inc. Cautionary StatementThis press release contains forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release. In addition to the risk factors identified from time to time in our reports filed with the U.S. Securities and Exchange Commission (SEC), factors that could cause our actual results to differ materially include the below. Such forward looking statements include but are not limited to statements regarding the results of the ULTIMATE I & II Phase 3 studies, the ENHANCE Phase 3b study, and BRIUMVI as a treatment for relapsing forms of multiple sclerosis (RMS). Additional factors that could cause our actual results to differ materially include the following: the risk that the data from the ULTIMATE I & II or ENHANCE trials that we announce or publish may change, or the product profile of BRIUMVI may be impacted, as more data or additional endpoints are analyzed; the risk that data may emerge from future clinical studies or from adverse event reporting that may affect the safety and tolerability profile and commercial potential of BRIUMVI; the risk that any individual patient's clinical experience in the post-marketing setting, or the aggregate patient experience in the post-marketing setting, may differ from that demonstrated in controlled clinical trials such as ULTIMATE I and II; the risk that BRIUMVI will not be commercially successful; our ability to expand our commercial infrastructure, and successfully market and sell BRIUMVI in RMS; the Company's reliance on third parties for manufacturing, distribution and supply, and a range of other support functions for our commercial and clinical products, including BRIUMVI, and the ability of the Company and its manufacturers and suppliers to produce and deliver BRIUMVI to meet the market demand for BRIUMVI; the failure to obtain and maintain requisite regulatory approvals, including the risk that the Company fails to satisfy post-approval regulatory requirements; the uncertainties inherent in research and development; and general political, economic and business conditions. i Further discussion about these and other risks and uncertainties can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in our other filings with the U.S. Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at The information found on our website is not incorporated by reference into this press release and is included for reference purposes only. CONTACT: Investor RelationsEmail: ir@ (8489), Option 4 Media Relations:Email: media@ (8489), Option 6 1. MS Prevalence. National Multiple Sclerosis Society website: Accessed October 26, 2020. 2. Multiple Sclerosis International Federation, 2013 via Datamonitor in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Economic Times
3 days ago
- Business
- Economic Times
Can India become the services factory of the world? Gautam Trivedi explains
Gautam Trivedi, Co-Founder & Managing Partner, Nepean Capital, says the Electronic Manufacturing Services (RMS) sector is expected to remain strong. India has the potential to become a global manufacturing hub. Companies like Dixon are showing significant growth potential. They could evolve beyond assembly to full-fledged manufacturing. Investors are optimistic about the EMS sector's future. High valuations are expected to continue, offering potential returns. Trivedi also says the power sector is a multi-decadal story in India. They also have a lot of focus on wind energy.. ADVERTISEMENT Your body language tells me that you have been having a lot of fun in the market. Gains have been strong, right? Gautam Trivedi: Well, gains have been strong in very select stocks, but I am also smiling because I just got back from the US where I attended my first ever trip to Omaha to listen to Warren Buffett and little did I know it would be his last as a CEO. I hope he shows up next year, but yes, I am just back from there. Promoters selling stakes bigger threat in the market: Sandip Sabharwal That got over a month ago. After that Omaha retreat, what did you do? Gautam Trivedi: I did a lot. I spent time in New York. I met a whole bunch of fund managers, asset allocators, and went to Yellowstone National Park. There is a lot out there that I want to talk about as well if I may. What should we start with? Gautam Trivedi: So, a couple of things. The US economy clearly is robust and is absolutely thriving. I mean, whether it is hotels or restaurants, eating out, everything is not only expensive but full and I am not referring to just the city of New York because that clearly does not truly represent what is happening in the rest of America. But the fact is inflation in general is raging. I mean, a simple celery and cucumber juice, for example, cost me $15. There was a time eight-nine years ago, when I could have a full breakfast for $15, but for that one can only get one juice now and that is how expensive things have become. But if you look at the overall economy, just like in our country, travel is booming in the US. For the Memorial Day weekend that just ended, AAA estimated that 45 million Americans drove or travelled 50 miles or more from their respective homes, which itself is a new record and that is the way they measure travel. So, every hotel that I took with my family in the three weeks that we were there, we took eight flights, every seat was sold out. So, with respect to finance and economics, the ability of the Fed to cut interest rates in the US is quite limited at this point until inflation really does not cool down. I am talking inflation relative to pre-Covid. I am not talking year-on-year because that may optically look a little less, but that is not the right way to look at it. ADVERTISEMENT Translate that for us in India because while global inflation indirectly is bad news for us, does that also mean that more flows will come back into emerging markets as the dollar will remain weak and will the search for yield start again? In that case a market like India would benefit. Am I summarising it correctly? Gautam Trivedi: You are mostly right, but there is one other way to look at this as well. If you look at the domestic economy which I just explained, that is obviously strong; but if you look at corporate earnings, it shocked me and I am sure it will surprise most of us. While sitting in India, we pride ourselves for having 13% to 14% earnings growth, that is always the estimates at the start of a new fiscal year and obviously for the last few years we have seen them pruned down. But the first quarter earnings for the S&P 500 were as strong as 12%. Now, you may ask me that, hang on, the Mag-7 accounts for a bulk of it. Yes, the Mag-7's earnings growth was 28%, but the balance 493 companies reported an average growth of 9%, so that is still very strong for an economy that is as large as the United States. So, keep that factor in mind. ADVERTISEMENT The other interesting report that I read was from a US sell-side firm. It said that 50% of the largecap mutual funds in the United States that have a combined AUM of $3.5 trillion and 50% of them have outperformed the benchmark year to date versus the long-term average of around 37% of the funds. So, things are pretty good back in the States both from an economic standpoint as well as performance from the domestic equity markets. As you rightly said, one thing that will force money to leave the United States will, of course, be the weakness of the dollar. At this point of time, foreigners own 18% of US equities and that is a record high as well. So, any significant or a prolonged weakness in the US dollar will clearly have money flowing out of the United States into Europe and, of course, emerging markets. ADVERTISEMENT The last time you connected with us, you believed it would take time for the FIIs to return. But that was back in January. But now, we are seeing that FIIs are again getting into the Indian markets in a staggered manner. There has been a bit of a buying in the cash segment. But are they here to stay and in which sectors do you believe the investment can trickle in? Gautam Trivedi: I think they are here to stay for the longer term. Let us get real. Of the $5.2 trillion of India's total market cap, foreigners own almost a trillion dollars, so that is a huge amount in itself in absolute numbers. So, they are pretty much here to stay from that standpoint. The question really is the timing of returning back with a lot of money and the feedback that I got for the most part was that India has gone from very expensive to expensive. Will it go moderately expensive? I do not see that happening until domestic flows do not slow down. Year-to-date, foreigners have been net sellers of about $10 to $10.5 billion, but domestic mutual funds and insurance companies have ploughed in about $32 billion. That is the velocity of the money that is coming into the equity markets from domestic flows and until that does not slow down, I do not see the Indian market getting cheaper unless, of course, there is a significant improvement in earnings growth which we have not seen as yet. So, the market remains elevated from a valuation perspective. ADVERTISEMENT When I asked everybody about where they would put their incremental money, India or China, they said if the relationship between China and the US were to improve, incrementally China looks definitely more attractive than India because it is trading at half the valuation and also has pretty strong earnings growth. But let us come back to India. The US-China relationship is conjuncture. But what we know is that there are a lot of themes in India. I was just looking at exchanges and financial themes ex banks, which is mutual funds, stockholding companies and brokerages. Where are you picking your spot in this entire financial inclusion theme now? Gautam Trivedi: The NBFCs have had a tough run. We have invested recently in a gold loan company only because a large private equity fund is taking a solid position and pretty much where the promoter is stepping back. So, we are a special SITS fund and we look for that special situation in a company which makes it attractive for us and a potential for re-rating, so that is what we have done within the financial space. Having said that, financials are our largest bet as a sectoral allocation. 31% of our AUMs are in financials. I am talking about exchanges – BSE, NSE. I am talking about mutual fund companies. There is Nippon, there is HDFC AMC, there is UTI, that is the other theme. Then, there are fee-based companies, wealth management companies, Nuvama, 360, and then last but not the least, some of the brokerages like Angel, Motilal Oswal. Are you picking up anything which is in the non-NBFC or the lending basket? Gautam Trivedi: No, we have not actually and we find even their valuations are not cheap. So, we have basically stayed away at this point from venturing into any of these non-BFSI spaces, but within the overall umbrella of financials. Any interesting sunrise theme which you would say right now is at a niche stage but has potential to become big? Three years ago, solar was a niche theme, defence five years ago was a very niche theme, EVs five years ago again were known but relatively unknown in terms of market presence. Today, they have become the mainstay for a lot of companies. Anything which is small, could become big, or anything that is young could become tall and strong. Gautam Trivedi: I would love to say AI, but people ask me what is the best way to play it? Is it through Indian IT companies? Frankly, we have not seen evidence of that as yet of Indian IT companies developing expertise to a great extent in AI as yet and I am sure there is something that is happening behind the scenes, we do not know yet, but that could be potentially a story. Having said that, our sunrise sector, and again it is not new really, but the one sector that is our second biggest sectoral allocation is power which we believe is a multi-decadal story. So, we are very strong in power. And the one thing that you forgot to mention is, that was also almost history but has had a huge turnaround is, wind energy. So, we have seen a lot of focus on that as well. But like you highlighted that from India being very expensive, it is moderately expensive now and all thanks to the domestic fund flow. But there are some concerns on the valuations of a couple of sectors that have been trading at higher valuation, case in point being EMS, that was I believe also one of the stories that you have been liking. But do you believe that the valuations of these companies will be at these levels, there is not much headroom for the valuations to come back to moderate levels and investors should be really prepared for that. Gautam Trivedi: So, let us talk about Dixon. We do not own the stock, but I just want to talk about it. It is really the poster child of the EMS business. We have seen a lot of copycats come in and people thinking they can match Dixon's execution, scale, and the ability to actually get some of the biggest customers that are out there. But the fact is that the market continues to reward a stock like Dixon, which is trading at north of 80 times one year forward earnings. And it is every quarter delivering 90% to 100% topline growth. Now at what point would the market say hang on a second, this is way too expensive? The day or the quarter when we see the earnings growth falter, the market is quite unforgiving. In the last 12 months or so, even a slight disappointment has ended up with stocks getting punished quite ruthlessly. So, my view is that the EMS space is here to stay. Can India become the services factory of the world? Clearly, I think it can happen. Companies like Dixon have clearly shown that this is where Hon Hai was 20 years ago and look how big that company has become. They have grown from just assembling phones to actually starting to make the phones. So, if you look at the evolution of where a Dixon or an Amber or any of these EMS companies could be five or ten years from now, it could be very different. The market to some extent is betting on that and second, of course, is rewarding the growth. I do not see valuations for EMS companies coming down. Question is are you as an investor comfortable at a 75 or 80 times one-year forward PE and if you are, you will make money in these stocks.
Time of India
3 days ago
- Business
- Time of India
Can India become the services factory of the world? Gautam Trivedi explains
Live Events You Might Also Like: Promoters selling stakes bigger threat in the market: Sandip Sabharwal (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel , Co-Founder & Managing Partner,, says the Electronic Manufacturing Services (RMS) sector is expected to remain strong. India has the potential to become a global manufacturing hub. Companies like Dixon are showing significant growth potential. They could evolve beyond assembly to full-fledged manufacturing. Investors are optimistic about the EMS sector's future. High valuations are expected to continue, offering potential returns. Trivedi also says the power sector is a multi-decadal story in India. They also have a lot of focus on wind gains have been strong in very select stocks, but I am also smiling because I just got back from the US where I attended my first ever trip to Omaha to listen to Warren Buffett and little did I know it would be his last as a CEO. I hope he shows up next year, but yes, I am just back from there.I did a lot. I spent time in New York. I met a whole bunch of fund managers, asset allocators, and went to Yellowstone National Park. There is a lot out there that I want to talk about as well if I a couple of things. The US economy clearly is robust and is absolutely thriving. I mean, whether it is hotels or restaurants, eating out, everything is not only expensive but full and I am not referring to just the city of New York because that clearly does not truly represent what is happening in the rest of America. But the fact is inflation in general is raging. I mean, a simple celery and cucumber juice, for example, cost me $15. There was a time eight-nine years ago, when I could have a full breakfast for $15, but for that one can only get one juice now and that is how expensive things have if you look at the overall economy, just like in our country, travel is booming in the US. For the Memorial Day weekend that just ended, AAA estimated that 45 million Americans drove or travelled 50 miles or more from their respective homes, which itself is a new record and that is the way they measure travel. So, every hotel that I took with my family in the three weeks that we were there, we took eight flights, every seat was sold with respect to finance and economics, the ability of the Fed to cut interest rates in the US is quite limited at this point until inflation really does not cool down. I am talking inflation relative to pre-Covid. I am not talking year-on-year because that may optically look a little less, but that is not the right way to look at are mostly right, but there is one other way to look at this as well. If you look at the domestic economy which I just explained, that is obviously strong; but if you look at corporate earnings, it shocked me and I am sure it will surprise most of us. While sitting in India, we pride ourselves for having 13% to 14% earnings growth, that is always the estimates at the start of a new fiscal year and obviously for the last few years we have seen them pruned down. But the first quarter earnings for the S&P 500 were as strong as 12%.Now, you may ask me that, hang on, the Mag-7 accounts for a bulk of it. Yes, the Mag-7's earnings growth was 28%, but the balance 493 companies reported an average growth of 9%, so that is still very strong for an economy that is as large as the United States. So, keep that factor in other interesting report that I read was from a US sell-side firm. It said that 50% of the largecap mutual funds in the United States that have a combined AUM of $3.5 trillion and 50% of them have outperformed the benchmark year to date versus the long-term average of around 37% of the funds. So, things are pretty good back in the States both from an economic standpoint as well as performance from the domestic equity you rightly said, one thing that will force money to leave the United States will, of course, be the weakness of the dollar. At this point of time, foreigners own 18% of US equities and that is a record high as well. So, any significant or a prolonged weakness in the US dollar will clearly have money flowing out of the United States into Europe and, of course, emerging markets.I think they are here to stay for the longer term. Let us get real. Of the $5.2 trillion of India's total market cap, foreigners own almost a trillion dollars, so that is a huge amount in itself in absolute numbers. So, they are pretty much here to stay from that standpoint. The question really is the timing of returning back with a lot of money and the feedback that I got for the most part was that India has gone from very expensive to expensive. Will it go moderately expensive? I do not see that happening until domestic flows do not slow foreigners have been net sellers of about $10 to $10.5 billion, but domestic mutual funds and insurance companies have ploughed in about $32 billion. That is the velocity of the money that is coming into the equity markets from domestic flows and until that does not slow down, I do not see the Indian market getting cheaper unless, of course, there is a significant improvement in earnings growth which we have not seen as yet. So, the market remains elevated from a valuation I asked everybody about where they would put their incremental money, India or China, they said if the relationship between China and the US were to improve, incrementally China looks definitely more attractive than India because it is trading at half the valuation and also has pretty strong earnings NBFCs have had a tough run. We have invested recently in a gold loan company only because a large private equity fund is taking a solid position and pretty much where the promoter is stepping back. So, we are a special SITS fund and we look for that special situation in a company which makes it attractive for us and a potential for re-rating, so that is what we have done within the financial space. Having said that, financials are our largest bet as a sectoral allocation. 31% of our AUMs are in we have not actually and we find even their valuations are not cheap. So, we have basically stayed away at this point from venturing into any of these non-BFSI spaces, but within the overall umbrella of financials.I would love to say AI, but people ask me what is the best way to play it? Is it through Indian IT companies? Frankly, we have not seen evidence of that as yet of Indian IT companies developing expertise to a great extent in AI as yet and I am sure there is something that is happening behind the scenes, we do not know yet, but that could be potentially a story. Having said that, our sunrise sector, and again it is not new really, but the one sector that is our second biggest sectoral allocation is power which we believe is a multi-decadal we are very strong in power. And the one thing that you forgot to mention is, that was also almost history but has had a huge turnaround is, wind energy. So, we have seen a lot of focus on that as let us talk about Dixon. We do not own the stock, but I just want to talk about it. It is really the poster child of the EMS business. We have seen a lot of copycats come in and people thinking they can match Dixon's execution, scale, and the ability to actually get some of the biggest customers that are out there. But the fact is that the market continues to reward a stock like Dixon, which is trading at north of 80 times one year forward earnings. And it is every quarter delivering 90% to 100% topline at what point would the market say hang on a second, this is way too expensive? The day or the quarter when we see the earnings growth falter, the market is quite unforgiving. In the last 12 months or so, even a slight disappointment has ended up with stocks getting punished quite ruthlessly. So, my view is that the EMS space is here to stay. Can India become the services factory of the world? Clearly, I think it can happen. Companies like Dixon have clearly shown that this is where Hon Hai was 20 years ago and look how big that company has become. They have grown from just assembling phones to actually starting to make the if you look at the evolution of where a Dixon or an Amber or any of these EMS companies could be five or ten years from now, it could be very different. The market to some extent is betting on that and second, of course, is rewarding the growth. I do not see valuations for EMS companies coming down. Question is are you as an investor comfortable at a 75 or 80 times one-year forward PE and if you are, you will make money in these stocks.
Yahoo
4 days ago
- Business
- Yahoo
Albany/Dougherty County Makes Transition to CentralSquare's Cloud-Hosted RMS & JMS Offering
CentralSquare's ONESolution Enables Modern, Cloud-Based Infrastructure to Enhance Security, Efficiency, and Resilience LAKE MARY, Fla., May 29, 2025--(BUSINESS WIRE)--CentralSquare Technologies, a leading provider of public sector software, announced that Albany/Dougherty County, GA has successfully moved to the cloud with CentralSquare's ONESolution for records management system (RMS) and jail management system (JMS). As the first agency to transition to the cloud-based ONESolution powered by AWS, this marks a major milestone for the county in its shift toward modern, scalable, and secure public safety infrastructure. "We've faced serious challenges with our on-premises servers, particularly with our basement server room flooding. Moving to the cloud is not a simple technology upgrade, it's a way to literally keep our data dry and ensure uninterrupted access to our critical systems," said Colonel John Ostrander, Albany/Dougherty County's Chief Jailer. "We've trusted CentralSquare for more than 10 years, and transitioning to their cloud platform is the next step in strengthening that partnership." Following cybersecurity incidents in 2024 that disrupted on-premises public administration systems in the county, the move to CentralSquare's ONESolution comes at a crucial time. Albany/Dougherty County now benefits from enhanced data security, built-in redundancies, and increased system accessibility, ensuring that essential operations remain uninterrupted, including through cyber threats or natural disasters. "CentralSquare's ONESolution has enabled customers like Albany/Dougherty County to transition to the cloud while bolstering cybersecurity capabilities that ensure systems remain functional in all situations," said Dustin DeVoe, Senior Account Manager at CentralSquare. "As more agencies look to modernize their technology, this partnership shows how the cloud can provide the capabilities departments need to serve their communities with confidence." The fully integrated system allows personnel to efficiently update and access records in real-time, reducing administrative burdens while improving data accuracy across multiple agencies, including law enforcement and the county jail. About CentralSquare Technologies: CentralSquare Technologies is the leading provider of public sector software in North America. The best-run communities rely on CentralSquare to manage all aspects of their state and local governments – from public safety to public works. Our comprehensive software suite includes modern cloud-based solutions to support police, fire, finance, payments, permits, utility billing and much more. With more than 40 years of dedication to the public sector, today we proudly serve over 8,000 customers. Learn more at View source version on Contacts CentralSquarePR@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
4 days ago
- Business
- Business Wire
Albany/Dougherty County Makes Transition to CentralSquare's Cloud-Hosted RMS & JMS Offering
LAKE MARY, Fla.--(BUSINESS WIRE)-- CentralSquare Technologies, a leading provider of public sector software, announced that Albany/Dougherty County, GA has successfully moved to the cloud with CentralSquare's ONESolution for records management system (RMS) and jail management system (JMS). As the first agency to transition to the cloud-based ONESolution powered by AWS, this marks a major milestone for the county in its shift toward modern, scalable, and secure public safety infrastructure. 'CentralSquare's ONESolution has enabled customers like Albany/Dougherty County to transition to the cloud while bolstering cybersecurity capabilities that ensure systems remain functional in all situations,' said Dustin DeVoe, Senior AM at CentralSquare Share 'We've faced serious challenges with our on-premises servers, particularly with our basement server room flooding. Moving to the cloud is not a simple technology upgrade, it's a way to literally keep our data dry and ensure uninterrupted access to our critical systems,' said Colonel John Ostrander, Albany/Dougherty County's Chief Jailer. "We've trusted CentralSquare for more than 10 years, and transitioning to their cloud platform is the next step in strengthening that partnership.' Following cybersecurity incidents in 2024 that disrupted on-premises public administration systems in the county, the move to CentralSquare's ONESolution comes at a crucial time. Albany/Dougherty County now benefits from enhanced data security, built-in redundancies, and increased system accessibility, ensuring that essential operations remain uninterrupted, including through cyber threats or natural disasters. 'CentralSquare's ONESolution has enabled customers like Albany/Dougherty County to transition to the cloud while bolstering cybersecurity capabilities that ensure systems remain functional in all situations,' said Dustin DeVoe, Senior Account Manager at CentralSquare. 'As more agencies look to modernize their technology, this partnership shows how the cloud can provide the capabilities departments need to serve their communities with confidence.' The fully integrated system allows personnel to efficiently update and access records in real-time, reducing administrative burdens while improving data accuracy across multiple agencies, including law enforcement and the county jail. About CentralSquare Technologies: CentralSquare Technologies is the leading provider of public sector software in North America. The best-run communities rely on CentralSquare to manage all aspects of their state and local governments – from public safety to public works. Our comprehensive software suite includes modern cloud-based solutions to support police, fire, finance, payments, permits, utility billing and much more. With more than 40 years of dedication to the public sector, today we proudly serve over 8,000 customers. Learn more at
