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Economic Times
3 days ago
- Business
- Economic Times
ETMarkets Smart Talk: Why Gurpreet Sidana Says Real Wealth Is Built on Strategy, Not Speculation
Tired of too many ads? Remove Ads Q) Thanks for taking the time out. Let me get your perspective on the market. We have seen a lot of action on D-Street amid tariff and geopolitical situation between India & Pakistan. How do you manage to dodge the volatility? Tired of too many ads? Remove Ads Q) How are you reading the micro and earnings picture for the next few quarters? Tired of too many ads? Remove Ads Q) Amid the volatility, what are the queries that you are receiving from your clients? Q) Mutual funds increase cash allocation by Rs 17,300 crore to Rs 2.23 lakh crore in April. Are you also following a similar trend and using dips to enter markets? Q) How fixed income market will move in 2025 amid the rate cut cycle? Q) How should one play the small & midcap space? Q) Defence stocks have come back on the table after the recent dip amid rising tensions between India & Pakistan. Do you see the trend to continue? Q) The US-China tariff announcement supported risk-on sentiment and we saw a quick rally and even the FIIs are also making a comeback. How do you see the global picture evolving in the next few months? Q) What is your take on Gold, especially after a stellar run we have seen for the past 3 years? Q) Which sectors are now looking attractive? In an exclusive interaction with ETMarkets Smart Talk series, Gurpreet Sidana , CEO of Religare Broking Ltd., shares his insights on navigating market volatility, managing investor sentiment, and identifying long-term opportunities amid geopolitical tensions and shifting macro the importance of discipline and data-driven decision-making, Sidana cautions against chasing momentum and urges investors to focus on building resilient portfolios backed by defence and cement to fixed income and gold, he outlines the key sectors and strategies that can help investors create real, sustainable wealth in an unpredictable market environment. Edited Excerpts –It is always a pleasure interacting with you!Volatility is an intrinsic part of the capital markets, and it is particularly evident during events like geopolitical flare-ups or tariff uncertainties. For a broking house, it's never about predicting the next headline. It's about staying prepared, always!In periods of high tension, like the recent India-Pakistan developments, we rely on data-driven insights—especially stock beta analysis—to gauge market sensitivity and adjust exposure helps to stay aligned with long-term goals while managing real-time risk. There is no one-size-fits-all formula for retail participants. Markets reward resilience, not should you chase the momentum—but build on mechanisms. The real wealth is built on strategy, not a volatile start to 2025, Indian equities have staged a strong rebound, supported by easing geopolitical tensions, renewed FII inflows and more favourable trade the macroeconomic environment is becoming increasingly supportive—retail inflation has declined to 3.16%, credit growth is projected to grow above 12%, and the RBI has initiated its rate-cut cycle, improving overall liquidity. The IMD's forecast of an above-normal monsoon is also positive for lifting rural the earnings front, the March quarter results have largely met expectations, showcasing broad-based sectoral strength. Looking ahead, we expect corporate earnings to remain resilient, with Nifty50 earnings likely to grow by 11–13% in global headwinds, India's strong fundamentals and policy tailwinds continue to support its premium valuation narrative in global this environment of heightened volatility, clients are primarily seeking clarity and direction on how to navigate the uncertain conditions. Capital protection is top of mind, with many asking whether it makes sense to partially move into debt or hybrid also strong interest in the sharp rally we have seen in sectors like defence and railways. Investors are keen to understand whether these moves are sustainable and where the next opportunities might are also getting a lot of technical queries—around hedging strategies using options, insights from open interest build-up, and how FIIs are positioned in index and stock the same time, many investors are seeking guidance on whether to stay the course with their SIPs and how to think about sector rotation in this evolving market we are observing this trend closely. The rise in mutual funds' cash allocations reflects a cautious yet opportunistic approach in the face of ongoing market volatility. Elevated cash levels suggest that fund managers are staying nimble, ready to deploy capital during market our side, we're advising clients to remain selective and use market dips strategically—particularly in sectors with strong fundamentals and continued momentum, such as defence and fixed income market in 2025 is certainly offering a favourable phase for risk averse investors. With inflation easing to 3.16% in April '25 and the RBI lowering the repo rate to 6%, there is room for further policy yields soften, we expect strong interest in medium- to long-duration bonds, and see this as a good window for clients to lock in attractive consolidation, India's inclusion in global bond indices, and a stable macro environment are further strengthening the some relief from recent market consolidation, valuation concerns persist in certain small and mid-cap segments, as many stocks remain disconnected from their earnings growth this environment, the best approach is to be highly selective and focus on quality, fundamentally strong companies with robust financials and sustainable business chasing momentum or liquidity-driven rallies, as overvalued names remain vulnerable to corrections, especially if triggered by global or domestic stocks have rallied nearly 45% since April 7, 2025, driven by the success of indigenous defence equipment during the India-Pakistan tensions and robust government support for promoting domestic defence the sharp rally has led to stretched valuations, the sector remains a compelling long-term investment geopolitical uncertainties and security challenges are expected to push India's defence budget—currently at 1.9% of GDP—higher in the coming years, providing further momentum to the said, investors should stay selective and stick to companies with strong fundamentals and long-term growth don't wait for certainty—they move with clarity. The US-China tariff rollback has provided just that, sparking a rally in equities and pulling FIIs back into the cooling-off period is good news for trade flows and investor sentiment, at least through mid-August. But beyond the headlines, the bigger picture will be shaped by how global policymakers and central banks maintain supportive geopolitical risks and inflation remain key concerns, improving macroeconomic indicators and easing trade tensions could support sustained global equity now, momentum has returned—staying selective and globally aware will separate the noise from the real times of uncertainty, gold shines brightest. The yellow metal did its job. Over the past three years, it has gained over 56% on domestic exchanges, driven by global volatility, safe-haven demand, and a weaker recent easing in geopolitical tensions has led to some cooling, the long-term outlook remains strong. Any dips should be viewed as buying said, with inflationary risks and global uncertainty still in play, gold remains a strategic portfolio asset—not just a tactical sectors are showing promising opportunities as the market gains momentum. We are seeing a turnaround in cement, driven by volume growth and easing competition, which is improving insurance is becoming more attractive with valuations stabilizing and regulatory concerns housing finance also stands out, supported by expected rate cuts and strong asset quality. On the broader market front, defence and autos have led recent gains, while IT shows signs of renewed strength after early-year said, FMCG remains cautious territory given margin pressures and uncertain demand. For investors, selective exposure backed by strong fundamentals will be a key to navigating this evolving this market, stay disciplined—no shortcuts. Quality is the way to win.: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
3 days ago
- Business
- Time of India
ETMarkets Smart Talk: Why Gurpreet Sidana Says Real Wealth Is Built on Strategy, Not Speculation
Q) Thanks for taking the time out. Let me get your perspective on the market. We have seen a lot of action on D-Street amid tariff and geopolitical situation between India & Pakistan. How do you manage to dodge the volatility? Live Events Q) How are you reading the micro and earnings picture for the next few quarters? Q) Amid the volatility, what are the queries that you are receiving from your clients? Q) Mutual funds increase cash allocation by Rs 17,300 crore to Rs 2.23 lakh crore in April. Are you also following a similar trend and using dips to enter markets? Q) How fixed income market will move in 2025 amid the rate cut cycle? Q) How should one play the small & midcap space? Q) Defence stocks have come back on the table after the recent dip amid rising tensions between India & Pakistan. Do you see the trend to continue? Q) The US-China tariff announcement supported risk-on sentiment and we saw a quick rally and even the FIIs are also making a comeback. How do you see the global picture evolving in the next few months? Q) What is your take on Gold, especially after a stellar run we have seen for the past 3 years? Q) Which sectors are now looking attractive? (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel In an exclusive interaction with ETMarkets Smart Talk series, Gurpreet Sidana , CEO of Religare Broking Ltd., shares his insights on navigating market volatility, managing investor sentiment, and identifying long-term opportunities amid geopolitical tensions and shifting macro the importance of discipline and data-driven decision-making, Sidana cautions against chasing momentum and urges investors to focus on building resilient portfolios backed by defence and cement to fixed income and gold, he outlines the key sectors and strategies that can help investors create real, sustainable wealth in an unpredictable market environment. Edited Excerpts –It is always a pleasure interacting with you!Volatility is an intrinsic part of the capital markets, and it is particularly evident during events like geopolitical flare-ups or tariff uncertainties. For a broking house, it's never about predicting the next headline. It's about staying prepared, always!In periods of high tension, like the recent India-Pakistan developments, we rely on data-driven insights—especially stock beta analysis—to gauge market sensitivity and adjust exposure helps to stay aligned with long-term goals while managing real-time risk. There is no one-size-fits-all formula for retail participants. Markets reward resilience, not should you chase the momentum—but build on mechanisms. The real wealth is built on strategy, not a volatile start to 2025, Indian equities have staged a strong rebound, supported by easing geopolitical tensions, renewed FII inflows and more favourable trade the macroeconomic environment is becoming increasingly supportive—retail inflation has declined to 3.16%, credit growth is projected to grow above 12%, and the RBI has initiated its rate-cut cycle, improving overall liquidity. The IMD's forecast of an above-normal monsoon is also positive for lifting rural the earnings front, the March quarter results have largely met expectations, showcasing broad-based sectoral strength. Looking ahead, we expect corporate earnings to remain resilient, with Nifty50 earnings likely to grow by 11–13% in global headwinds, India's strong fundamentals and policy tailwinds continue to support its premium valuation narrative in global this environment of heightened volatility, clients are primarily seeking clarity and direction on how to navigate the uncertain conditions. Capital protection is top of mind, with many asking whether it makes sense to partially move into debt or hybrid also strong interest in the sharp rally we have seen in sectors like defence and railways. Investors are keen to understand whether these moves are sustainable and where the next opportunities might are also getting a lot of technical queries—around hedging strategies using options, insights from open interest build-up, and how FIIs are positioned in index and stock the same time, many investors are seeking guidance on whether to stay the course with their SIPs and how to think about sector rotation in this evolving market we are observing this trend closely. The rise in mutual funds' cash allocations reflects a cautious yet opportunistic approach in the face of ongoing market volatility. Elevated cash levels suggest that fund managers are staying nimble, ready to deploy capital during market our side, we're advising clients to remain selective and use market dips strategically—particularly in sectors with strong fundamentals and continued momentum, such as defence and fixed income market in 2025 is certainly offering a favourable phase for risk averse investors. With inflation easing to 3.16% in April '25 and the RBI lowering the repo rate to 6%, there is room for further policy yields soften, we expect strong interest in medium- to long-duration bonds, and see this as a good window for clients to lock in attractive consolidation, India's inclusion in global bond indices, and a stable macro environment are further strengthening the some relief from recent market consolidation, valuation concerns persist in certain small and mid-cap segments, as many stocks remain disconnected from their earnings growth this environment, the best approach is to be highly selective and focus on quality, fundamentally strong companies with robust financials and sustainable business chasing momentum or liquidity-driven rallies, as overvalued names remain vulnerable to corrections, especially if triggered by global or domestic stocks have rallied nearly 45% since April 7, 2025, driven by the success of indigenous defence equipment during the India-Pakistan tensions and robust government support for promoting domestic defence the sharp rally has led to stretched valuations, the sector remains a compelling long-term investment geopolitical uncertainties and security challenges are expected to push India's defence budget—currently at 1.9% of GDP—higher in the coming years, providing further momentum to the said, investors should stay selective and stick to companies with strong fundamentals and long-term growth don't wait for certainty—they move with clarity. The US-China tariff rollback has provided just that, sparking a rally in equities and pulling FIIs back into the cooling-off period is good news for trade flows and investor sentiment, at least through mid-August. But beyond the headlines, the bigger picture will be shaped by how global policymakers and central banks maintain supportive geopolitical risks and inflation remain key concerns, improving macroeconomic indicators and easing trade tensions could support sustained global equity now, momentum has returned—staying selective and globally aware will separate the noise from the real times of uncertainty, gold shines brightest. The yellow metal did its job. Over the past three years, it has gained over 56% on domestic exchanges, driven by global volatility, safe-haven demand, and a weaker recent easing in geopolitical tensions has led to some cooling, the long-term outlook remains strong. Any dips should be viewed as buying said, with inflationary risks and global uncertainty still in play, gold remains a strategic portfolio asset—not just a tactical sectors are showing promising opportunities as the market gains momentum. We are seeing a turnaround in cement, driven by volume growth and easing competition, which is improving insurance is becoming more attractive with valuations stabilizing and regulatory concerns housing finance also stands out, supported by expected rate cuts and strong asset quality. On the broader market front, defence and autos have led recent gains, while IT shows signs of renewed strength after early-year said, FMCG remains cautious territory given margin pressures and uncertain demand. For investors, selective exposure backed by strong fundamentals will be a key to navigating this evolving this market, stay disciplined—no shortcuts. Quality is the way to win.: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Hindustan Times
12-05-2025
- Health
- Hindustan Times
Chandigarh: Alcoholics, not drug users, top GMCH de-addiction clinic charts
The drug de-addiction clinic of the Government Medical College and Hospital (GMCH), Sector 32, has been registering alcohol addicts more than those addicted to opioids for the last three years. Over 3,000 patients visit the clinic every year. The psychiatry department, which offers outpatient department (OPD), indoor and emergency services to the patients with substance use disorders (SUDs), has eight beds earmarked for patients dependent on drugs in its ward on the south campus. In 2022, the de-addiction centre's OPD saw 2,440 patients, of which 780 came for the first time. Among those 780, 295 patients were addicted to alcohol, 277 to opioid, 123 to nicotine and 39 to cannabis. In 2023, the number rose to 3,000 and 737 were the new ones, out of whom 287 comprised alcohol-dependent patients, 272 opioids, 103 nicotine and 34 cannabis. In 2024, the number further increased to 3,156. Of them, 900 were new patients out of whom 353 had alcohol problem, 280 opioid, 121 nicotine and 61 faced cannabis addiction. The other two categories with less number of patients were of multiple drug and solvent substance abuse. The patients dependent on alcohol are large in numbers because it is consumed on a large scale. Nationally, about 14.6%, i.e about 16 crore people (between 10 and 75 years of age), consume alcohol, according to a report of the National Survey on Extent and Pattern of Substance Use in India, released in 2019 by the ministry of social justice and empowerment. Out of these 16 crore people, the addicted ones were 2.9 crore. Dr Ajit K Sidana, head of the psychiatry department that runs the drug de-addiction clinic, said the number of patients in the OPD is increasing due to increased awareness. Dependency on alcohol has been seen more in patients above 45 years of age and opioids-cannabis dependence is mostly among those in 25-45 age group, added Sidana. Regarding the challenges, he highlighted that there is a paucity of long-term rehab facility in the city. In the inpatient service in GMCH-32, a patient is admitted for 2-3 weeks and the treatment primarily focus on detoxfication and relapse prevention. In some cases, long term rehab is needed where indoor, outdoor activities, gardening and other such facilities are required. However, the closed ward in the hospital is not feasible for long-term treatment, he added. The PGIMER too admits patient only for short-term treatment. Another challenge being faced by the faculty in dealing with drug dependent patients is the low rate of followups, Dr Sidana said. Almost 30-40% patients do not come for followup after their first and second visits to the OPD. 'Relapse is common in patients as leaving the addiction is a long term process and body needs time to resettle. It is significant if the patient is able to reduce the dependency on drug if not completely cut down the consumption,' he added.
