Latest news with #Sabharwal
Economic Times
5 days ago
- Business
- Economic Times
Promoters selling stakes bigger threat in the market: Sandip Sabharwal
Synopsis Sandip Sabharwal highlights promoter selling, particularly in mid and small-cap companies, as a key market risk, overshadowing a generally positive macro environment. While larger sales like SingTel and ITC impact liquidity, smaller promoter exits raise concerns about confidence in company growth prospects at high valuations. Defence and railway sectors have seen recent activity, but sustainability remains uncertain. Sandip Sabharwal, says the risk in the market is just the kind of promoter selling which we are seeing in the markets starting with the larger ones like SingTel, InterGlobe Aviation as well as ITC and then a slew of mid and smallcap promoters selling their stakes. I think that is the risk to the markets. Ex of that, the overall macro scenario looks okay. While Sabharwal is more concerned about the small and midcap promoter sales rather than the bigger ones, even the bigger ones take out liquidity from the system and restrict market upside. ADVERTISEMENT What kind of sectors are you looking for at this point in time? A lot of sectoral churning is underway. The theme of this particular month has been defence, and also some of the counters from the railway side. But what is looking good to you right now? Sandip Sabharwal: Defence stocks rallied following the Indo-Pak conflict and potential increase in orders. Some of the companies came out with very good results like Bharat Electronics, while results from some others were subdued. Railways stocks have bounced back from extreme oversold levels, like from last year levels, many of the railway-related stocks got sold off a lot, but there is no clear change in the railway investment theme at this point of time in terms of the railways picking up steam in terms of investing more like it did 2022 onwards. So, these could be just bounces because the stocks have gotten sold off a lot. The results picture which has been pretty okay and in line with expectations. Some companies have performed above, some below and so there is nothing much out there. Markets are decently placed. The risk in the market is just the kind of promoter selling which we are seeing in the markets starting with the larger ones like SingTel, InterGlobe Aviation as well as ITC and then a slew of mid and smallcap promoters selling their stakes. I think that is the risk to the markets. Ex of that, the overall macro scenario looks okay. What is the trend you draw up from the promoter exits that are happening? These are ripe valuations in the market and could not get any better. Is it warranting caution now? Sandip Sabharwal: In some of these stocks, I would say yes, because if many of these companies are giving very strong outlook for growth for their companies and are coming out and selling huge quantity of their stocks at very high valuation and are getting absorbed by the institutional investors because the companies have given very strong guidance, that itself is a dichotomy because if you are so confident, why are you selling? On the other hand, for some of the larger companies like InterGlobe or BAT for ITC, etc, there we cannot surmise the same thing because in InterGlobe Aviation we have seen continuous sales by Rakesh Gangwal over the last few years and now we are coming to the end stage of that. So, hopefully over the next one year, all of that will get sold out. For ITC also, BAT needed the money and so they have sold. I would be more concerned about the small and midcap promoter sales rather than the bigger ones. 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Time of India
5 days ago
- Business
- Time of India
Promoters selling stakes bigger threat in the market: Sandip Sabharwal
Sandip Sabharwal , says the risk in the market is just the kind of promoter selling which we are seeing in the markets starting with the larger ones like SingTel, InterGlobe Aviation as well as ITC and then a slew of mid and smallcap promoters selling their stakes. I think that is the risk to the markets. Ex of that, the overall macro scenario looks okay. While Sabharwal is more concerned about the small and midcap promoter sales rather than the bigger ones, even the bigger ones take out liquidity from the system and restrict market upside. What kind of sectors are you looking for at this point in time? A lot of sectoral churning is underway. The theme of this particular month has been defence, and also some of the counters from the railway side. But what is looking good to you right now? Sandip Sabharwal: Defence stocks rallied following the Indo-Pak conflict and potential increase in orders. Some of the companies came out with very good results like Bharat Electronics , while results from some others were subdued. Railways stocks have bounced back from extreme oversold levels, like from last year levels, many of the railway-related stocks got sold off a lot, but there is no clear change in the railway investment theme at this point of time in terms of the railways picking up steam in terms of investing more like it did 2022 onwards. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dental Implant Balintawak Cost Might Be More Affordable Than Ever! Dental implant | Search Ads Learn More So, these could be just bounces because the stocks have gotten sold off a lot. The results picture which has been pretty okay and in line with expectations. Some companies have performed above, some below and so there is nothing much out there. Markets are decently placed. The risk in the market is just the kind of promoter selling which we are seeing in the markets starting with the larger ones like SingTel, InterGlobe Aviation as well as ITC and then a slew of mid and smallcap promoters selling their stakes. I think that is the risk to the markets. Ex of that, the overall macro scenario looks okay. What is the trend you draw up from the promoter exits that are happening? These are ripe valuations in the market and could not get any better. Is it warranting caution now? Sandip Sabharwal: In some of these stocks, I would say yes, because if many of these companies are giving very strong outlook for growth for their companies and are coming out and selling huge quantity of their stocks at very high valuation and are getting absorbed by the institutional investors because the companies have given very strong guidance, that itself is a dichotomy because if you are so confident, why are you selling? On the other hand, for some of the larger companies like InterGlobe or BAT for ITC, etc, there we cannot surmise the same thing because in InterGlobe Aviation we have seen continuous sales by Rakesh Gangwal over the last few years and now we are coming to the end stage of that. So, hopefully over the next one year, all of that will get sold out. For ITC also, BAT needed the money and so they have sold. I would be more concerned about the small and midcap promoter sales rather than the bigger ones. But that said, even the bigger ones take out liquidity from the system and restrict market upside. You Might Also Like: PG Electroplast shares in focus as promoters plan Rs 1,177 crore stake sale via block deal Gangwal family to sell 3.4% stake in IndiGo via Rs 6,831-crore block deal
The Print
03-05-2025
- Politics
- The Print
Pakistan's offer of ‘neutral probe' into Pahalgam attack is ‘diversionary'. 26/11, Pathankot show why
From allowing a judicial committee to record statements and cross-examine witnesses of the 2008 Mumbai terror attack, to taking an investigation team from Pakistan to the site of the Pathankot airbase attack in March 2016, India has tried at least twice to seek Pakistan's help in bringing the perpetrators of such crimes to justice. While India is yet to respond to this officially, it has tried the option of cooperating with Pakistan in the past to investigate terror attacks, with little success. New Delhi: Four days after 26 tourists were killed in the Pahalgam terror attack, Pakistan Prime Minister Shehbaz Sharif had said his country was willing to take part in a 'neutral, transparent and credible' investigation into the massacre. The 10 terrorists who carried out the four-day carnage in 2008, in which more than 160 people were killed, were all members of the Pakistan-based Lashkar-e-Taiba (LeT). The same outfit is believed to have orchestrated the Pahalgam attack. In the 2016 Pathankot attack, Pakistan-based terror outfit Jaish-e-Mohammad (JeM) was reported to have been involved. Former Indian High Commissioner to Pakistan Sharat Sabharwal believes that Pakistan's offer to participate in a neutral investigation is a 'diversionary tactic'. Instead, India should investigate the attack thoroughly and share evidence with its key allies to ensure Pakistan is held accountable, he told ThePrint. Sabharwal was posted in Islamabad between April 2009 and June 2013, when India had handed out dossiers to Pakistan on the terrorists behind the 26/11 attack. Pakistan had launched an 'investigation' and started a 'judicial process'. 'The proposal for a neutral probe is a diversionary tactic. In the past, Pakistan has blatantly denied its involvement even in the face of hard facts. We should gather all possible evidence, share it with our key partners and hold Pakistan accountable,' Sabharwal said. Here's a look at how previous joint probes by the two nations have fared. Also Read: Nishikant to Himanta, BJP leaders back 'free Balochistan, split Pakistan' after Pahalgam attack 26/11 attack eyewash Under immense pressure from the international community after the Mumbai attack in November 2008, Pakistan on 7 December that year detained over 20 operatives and senior leaders of terrorist groups such as the Lashkar-e-Taiba and Jamaat-ud-Dawa from a training camp in Muzaffarabad in Pakistan-occupied-Kashmir. Over the next year, till November 2009, India shared at least seven dossiers with Pakistan containing information on Lashkar operatives behind the attack in Mumbai. The first of these dossiers was shared in January 2009, the same month Pakistan announced that it had constituted a three-member committee of the Federal Investigation Agency (FIA) to probe the case. The committee was headed by the agency's additional director general, Javed Iqbal. Pakistan went on to demand more information and access from the Indian government to the sites of the attack as well as a joint investigation. The first admission of involvement of Pakistani nationals came when the FIA arrested and booked eight suspects, including then number two in the LeT Zakiur Rehman Lakhvi, and the terror group's communication expert Zarar Shah, based on info provided by India. They were booked under sections of the nation's 1997 Anti-Terrorism Act, the Prevention of Electronic Crimes Ordinance 2008, and sections of the Pakistan Penal Code. India had identified Lakhvi as the Mumbai attack mastermind, while Shah was suspected to be the primary handler of the terrorists who had unleashed terror in Mumbai. In November 2009, then Minister of State for External Affairs, Shashi Tharoor, informed Parliament that between January and November, Indian authorities had shared a total of seven dossiers with Pakistan, the last of which was shared the same month. The same month, FIA chargesheeted seven suspects—Lakhvi, Abdul Wajid, Mazhar Iqbal, Hamad Amin Sadiq, Shahid Jameel Riaz, Jamil Ahmed, and Ahmed Younis Anjum—for involvement in the 2008 attack. Trial commenced in a Rawalpindi anti-terrorism court against these seven accused. In November 2010, then Minister for External Affairs S.M. Krishna informed Parliament that Pakistan had proposed sending an eight-member judicial commission to India to record statements of the Additional Chief Metropolitan Magistrate and the Chief Investigating Officer, who had recorded the confession of terrorist Ajmal Kasab, and the two doctors who had conducted a post-mortem exam of nine other slain terrorists. The commission visited India from 14 to 21 March, 2012, and recorded the statements. However, their cross-examination was denied. In March 2013, India stated that 'substantive and verifiable progress' had not been made in the trial of the 2008 terror accused in Pakistan, despite its extensive cooperation. In May that year, FIA prosecutor Chaudhry Zulfikar Ali, who was dealing with the Mumbai terror attack case and assassination case of former Pakistan PM Benazir Bhutto, was shot dead in Karachi. The Pakistani judicial commission again visited Mumbai in September 2013 and cross-examined four witnesses whose statements had been previously recorded. In December 2014, Lakhvi was granted bail by a Pakistani court, causing outrage in India. The next day, he was detained again under the Maintenance of Public Order. The Islamabad High Court suspended his detention, an order that the nation's Supreme Court later overturned. Lakhvi was released from jail on bail in April 2015. In August 2015, in an opinion article for Pakistani national daily Dawn, former FIA DG Tariq Khosa conceded that dilatory tactics by the defendants, frequent change of trial judges, assassination of the case prosecutor as well as retraction from original testimony by some key witnesses had been serious setbacks for prosecutors in Pakistan in the 26/11 case. There has been no conviction from Pakistan's side in the 26/11 matter, so far. In 2019 and 2021, Pakistan arrested LeT chief Hafiz Saeed and Lakhvi, respectively, under pressure from the inter-governmental agency Financial Action Task Force (FATF). Similarly, a key planner of the 26/11 attack, Sajid Mir, was arrested in April 2022 and sentenced by an anti-terrorism court in Lahore on terror-financing charges just a month later, and right before a plenary of the FATF. The Pathankot varnish In January 2016, a group of terrorists said to be of the JeM attacked the Pathankot airbase of the Indian Air Force. The attack left seven security personnel dead and more than 30 people injured. All four terrorists involved were killed in an operation led by the Indian Army. Around mid-February, the Pakistan government filed an FIR related to the airbase attack at Gujranwala. It constituted a joint investigation team (JIT) to conduct a probe based on information shared by Indian investigating agencies. The five-member team visited India between 27 March and 1 April, and was taken to the scene of crime in Pathankot. The Ministry of Home Affairs in July 2016 informed Parliament that the Pakistani probe team was permitted to interact with India's counterterrorism body National Investigation Agency (NIA) by the terms of reference mutually agreed upon based on reciprocity. 'The exercise was aimed at providing evidence to the JIT so that all those guilty of Pathankot attack could be prosecuted effectively in Pakistan. The NIA briefed the JIT on investigations carried out in the Pathankot airbase terror attack. The Pakistan JIT, in turn, shared with the NIA the results of investigations carried out by them in Pakistan,' the ministry stated. The NIA had handed over crucial details such as DNA reports of terrorists killed in the operation at the airbase and requested the JIT to match them with DNA of family members of the terrorists. The team had assured of full cooperation and promised to execute letters rogatory issued by Indian courts. However, the NIA was never allowed to go to Pakistan to investigate the case, and the agency has received no information from Pakistan on the status of the Pathankot probe. In December 2016, the NIA filed a chargesheet against JeM chief Maulana Masood Azhar, his brother and Jaish deputy chief Mufti Abdul Rauf Asghar, top commander Shahid Latif and primary handler of the Pathankot attackers Kashif Jan, a resident of Charsada in Pakistan. The JeM was also said to be behind an attack on a security convoy in February 2019 that killed 40 personnel of the Central Reserve Police Force (CRPF) in Kashmir's Pulwama. (Edited by Nida Fatima Siddiqui) Also Read: 'Taj was overbooked after 26/11. If tourists stay away from Kashmir, terrorists win'—NC MP Ruhullah Mehdi
India.com
30-04-2025
- Politics
- India.com
Bad news for IAS officer Smita Sabharwal as she faces action for resharing AI image
Hyderabad: A senior IAS officer, Smita Sabharwal, who was in news recently for resharing an AI-generated post on Kancha Gachibowli land row on X, was transferred by the Telangana government on Sunday, April 27, 2025. Sabharwal recently served notice as a witness by the police over the resharing of an AI-generated image of a 400-acre land here next to the University of Hyderabad (UoH), was transferred and posted as Member Secretary. In a reshuffle of the IAS officers on Sunday night, the state government posted Shashank Goel, Director General, Dr MCR HRD Institute, as Vice Chairman, Centre for Good Governance. Jayesh Ranjan, Special Chief Secretary, IT and Sports department, was posted as CEO, Industry and Investment Cell in CMO. Among others, Greater Hyderabad Municipal Corporation (GHMC) Commissioner Ilambarithi K was posted as Secretary, Metropolitan Area and Urban Development department (HMDA limits). RV Karnan, Director, Health and Family Welfare, was posted as GHMC Commissioner. Who is Smita Sabharwal? Smita Sabharwal had been serving as the Principal Secretary (Youth Affairs, Tourism and Culture) of the Telangana government. She was appointed as Secretary to the Government for Youth Advancement, Tourism & Culture on November 11, 2024. Smita Sabharwal was born on June 19, 1977 and is a 2001-batch IAS officer of the then Andhra Pradesh cadre. Her maiden name is Smita Das. She was born into a Bengali family in Darjeeling, West Bengal. Her father, Colonel Pranab Das, served in the Indian Army, and her mother is Purabi Das. Sabharwal completed her schooling at St. Ann's High School in Secunderabad, where she topped the ICSE examination nationally. She pursued a commerce degree from St. Francis College for Women in Hyderabad. At the age of 22, she cleared the UPSC Civil Services Examination in 2000, securing the All India 4th rank. In 2001, she underwent administrative training at the Lal Bahadur Shastri National Academy of Administration in Mussoorie, followed by her district-level training in Adilabad during probation. Her first independent posting was as a sub-collector in Madanapalle, Chittoor, where she gained practical experience in land revenue management and district administration. She later worked in the rural development sector as the Project Director of the District Rural Development Agency (DRDA) in Kadapa. As the municipal commissioner of Warangal, she introduced the 'Fund your City' initiative, which enabled the development of public infrastructure such as traffic junctions, bus stops, foot-overbridges, and parks through public-private partnerships. She subsequently served as the deputy commissioner for commercial taxes in Visakhapatnam.
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Business Standard
28-04-2025
- Politics
- Business Standard
Telangana transfers IAS officer who reshared Hyderabad land row AI image
In a major rejig of the state's bureaucracy, the Telangana government has transferred several at least 20 Indian Administrative Service (IAS) officers. Among the transferred officers is Smita Sabharwal, who recently stoked a controversy by sharing an AI-generated image connected to the Kancha Gachibowli land dispute. The bureaucrat had shared a Studio Ghibli-style image related to the disputed land a few weeks ago, which resulted in the Gachibowli police issuing summons to her. The image, which she had posted on her X account, depicted the ongoing land controversy near Hyderabad Central University. After recording her statement with the police, Sabharwal posted on X, 'The post was reshared by 2,000 individuals on this platform. I sought clarification on whether the same action is initiated for all! If not, this raises concern about selective targeting, that in turn compromises the principles of natural justice and equality before the law.' Sabharwal's transfer has drawn particular attention, considering her prominence during the previous K Chandrashekar Rao-led Bharat Rashtra Samithi government. Sabharwal was serving as the special chief secretary for youth advancement, tourism and culture (YAT&C), which is looking after the arrangements for the Miss World Beauty pageant 2025. Sabharwal has been transferred with the contest set to begin in two weeks. She has been reassigned as the member secretary of the Telangana Finance Commission, a position she previously held before her stint in YAT&C. Also Read Earlier, Sabharwal had questioned the provision of reservations for differently-abled persons in the civil services, which led to a major controversy. "With all due respect to the Differently Abled. Does an Airline hire a pilot with a disability? Or would you trust a surgeon with a disability? The nature of the #AIS (IAS/IPS/IFoS) is field work, long taxing hours, and listening first-hand to people's grievances-which requires physical fitness. Why does this premier service need this Quota in the first place," Sabharwal said in a post on X. Her statements came after the controversy over the selection of Puja Khedkar, an ex-trainee IAS officer of Maharashtra cadre, who allegedly availed concessions for physical disability and OBC candidacy fraudulently.
