Latest news with #SumitBhatnagar
Time of India
28-07-2025
- Time of India
One of the world's highest lakes, located in Sikkim, has left Anand Mahindra mesmerised. Here's how to reach the place
Perched at a staggering 17,800 feet above sea level in the northern reaches of Sikkim, Gurudongmar Lake is not just a breathtaking natural wonder — it's a place steeped in legend, faith, and geological awe. Capt. Sumit Bhatnagar, an ex-pilot with the Indian Navy, recently captured a surreal image of the lake that caught the attention of Anand Mahindra . Sharing the photo, Mahindra quoted Rabindranath Tagore: 'In the mountain, stillness surges up to explore its own height; in the lake, movement stands still to contemplate its own depth,' calling it a 'surreal vision' of one of the world's highest lakes. Named after Guru Padmasambhava — the 8th-century Buddhist master revered across Tibet, Nepal, and the Himalayan belt — Gurudongmar Lake holds deep spiritual significance for Buddhists, Sikhs, and Hindus alike. According to the Mangan district website, it's also a place of pilgrimage and myth, surrounded by snowy peaks and steeped in serenity. Explore courses from Top Institutes in Please select course: Select a Course Category MCA Artificial Intelligence Degree PGDM MBA Leadership Cybersecurity CXO Design Thinking Product Management Public Policy Data Science Others Digital Marketing Finance Management Project Management Data Science others Data Analytics healthcare Technology Skills you'll gain: Programming Proficiency Data Handling & Analysis Cybersecurity Awareness & Skills Artificial Intelligence & Machine Learning Duration: 24 Months Vellore Institute of Technology VIT Master of Computer Applications Starts on Aug 14, 2024 Get Details — anandmahindra (@anandmahindra) by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Senior Living Homes in Vriddhachalam May Surprise You Senior Living | Search Ads Undo But there's more to this lake than just its beauty and belief. As noted by Incredible India's website, Gurudongmar is the origin point of the mighty Teesta River . Fed by glacial melt, its waters flow into the nearby Tso Lahmu Lake, eventually giving birth to a river that sustains countless lives downstream. Interestingly, the hilly terrain and surrounding glaciers make the lake appear deceptively small, hiding its true scale and hydrological importance. How to reach Gurudongmar Lake? Reaching this high-altitude marvel requires a bit of effort. Travellers can fly into either Pakyong Airport (about 30 km from Gangtok) or Bagdogra Airport (around 100 km away), then take the road route via Gangtok–Mangan–Lachung. The nearest railway station is New Jalpaiguri, approximately 100 km from the capital.
Economic Times
15-07-2025
- Business
- Economic Times
India's long-term growth story intact, market outlook constructive: Sumit Bhatnagar
"In terms of sector preferences, we're increasingly positive on the consumption theme. We believe consumption is at an inflection point, driven by improvements in both rural and urban demand. Rural consumption is benefiting from a good monsoon so far, healthy reservoir levels, and higher MSPs. This should lead to a continued pickup in rural economic activity," says Sumit Bhatnagar, Fund Manager, LIC MF. ADVERTISEMENT At present, we consider India to be a safe haven amid global tariff uncertainty. But one thing is certain — Trump's tariff-related moves and the associated uncertainties are likely to continue growing. What is your short- and long-term perspective on the domestic markets? Sumit Bhatnagar: As far as global markets are concerned, we've been witnessing intermittent bouts of volatility, driven by both economic and geopolitical factors. Regarding Trump, this issue has been ongoing for the last two to three months. So, a large part of it is already priced in, barring some short-term surprises that may arise from his announcements related to countries like Mexico or Brazil. However, when it comes to India, the outlook remains positive. Domestically, we are constructive on Indian markets simply because we expect economic activity to pick up. Along with that, we anticipate a corresponding improvement in corporate earnings — supported by lower interest rates, ample liquidity, and valuations that are more or less in the fair zone, especially when looking at the broader indices. From a medium- to long-term perspective, India remains very well-positioned. So, you're strongly backing the India growth story. But having said that, I'd like to know about your sector-specific strategies. There's been a lot of rotation happening — so what's on your radar? Which sectors are the hits and misses for you? Sumit Bhatnagar: In terms of sector preferences, we're increasingly positive on the consumption theme. We believe consumption is at an inflection point, driven by improvements in both rural and urban demand. Rural consumption is benefiting from a good monsoon so far, healthy reservoir levels, and higher MSPs. This should lead to a continued pickup in rural economic activity. Additionally, tax cuts that have already been implemented are expected to play out over the next six to nine months. On top of that, regulatory rollbacks by the RBI for lending institutions, lower interest rates, and ample liquidity should also support consumption growth. ADVERTISEMENT Looking ahead, the upcoming pay commissions will be a key driver as well. The central pay commission is due next year, followed by state pay commissions the year after — together putting nearly ₹3 lakh crore into the hands of consumers. There is also talk of GST rationalisation in the FMCG space, which should provide an incremental of this suggests that after five years of underperformance, FMCG may be at the start of a recovery. While this quarter's numbers may be muted, our outlook for the next two to three years is positive. Accordingly, we've increased our exposure to consumption in our portfolios. ADVERTISEMENT We've just seen the WPI numbers come in at -0.13%, which puts us in deflationary territory for wholesale prices. CPI, too, remains well below the 4% benchmark. In the current scenario — where crude is stable around $70 and the interest rate trajectory is relatively clear — which sectors do you see getting re-rated, and where do you expect de-rating? Sumit Bhatnagar: When it comes to re-rating, we are optimistic about sectors like cement and consumption. In cement, if pricing holds and demand picks up post-monsoon in the second half, we could see earnings improve. As discussed earlier, we also expect a significant pickup in consumption, both rural and urban, in the second half of the two sectors — cement and consumption — are where we foresee meaningful re-rating going forward. ADVERTISEMENT On the other hand, sectors exposed to global dynamics, like IT and metals, could face de-rating. This would be driven by continued global uncertainty and economic weakness in key markets such as the US, China, and Japan — which are critical drivers of demand for commodities like metals. So, those would be the sectors where we see potential for de-rating. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
15-07-2025
- Business
- Time of India
India's long-term growth story intact, market outlook constructive: Sumit Bhatnagar
"In terms of sector preferences, we're increasingly positive on the consumption theme. We believe consumption is at an inflection point, driven by improvements in both rural and urban demand. Rural consumption is benefiting from a good monsoon so far, healthy reservoir levels, and higher MSPs. This should lead to a continued pickup in rural economic activity," says Sumit Bhatnagar , Fund Manager, LIC MF . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo At present, we consider India to be a safe haven amid global tariff uncertainty. But one thing is certain — Trump's tariff-related moves and the associated uncertainties are likely to continue growing. What is your short- and long-term perspective on the domestic markets? Sumit Bhatnagar: As far as global markets are concerned, we've been witnessing intermittent bouts of volatility, driven by both economic and geopolitical factors. Regarding Trump, this issue has been ongoing for the last two to three months. So, a large part of it is already priced in, barring some short-term surprises that may arise from his announcements related to countries like Mexico or Brazil. However, when it comes to India, the outlook remains positive. Domestically, we are constructive on Indian markets simply because we expect economic activity to pick up. Along with that, we anticipate a corresponding improvement in corporate earnings — supported by lower interest rates , ample liquidity, and valuations that are more or less in the fair zone, especially when looking at the broader indices. From a medium- to long-term perspective, India remains very well-positioned. So, you're strongly backing the India growth story. But having said that, I'd like to know about your sector-specific strategies. There's been a lot of rotation happening — so what's on your radar? Which sectors are the hits and misses for you? Sumit Bhatnagar: In terms of sector preferences, we're increasingly positive on the consumption theme. We believe consumption is at an inflection point, driven by improvements in both rural and urban demand. Rural consumption is benefiting from a good monsoon so far, healthy reservoir levels, and higher MSPs. This should lead to a continued pickup in rural economic activity. Live Events Additionally, tax cuts that have already been implemented are expected to play out over the next six to nine months. On top of that, regulatory rollbacks by the RBI for lending institutions, lower interest rates, and ample liquidity should also support consumption growth. Looking ahead, the upcoming pay commissions will be a key driver as well. The central pay commission is due next year, followed by state pay commissions the year after — together putting nearly ₹3 lakh crore into the hands of consumers. There is also talk of GST rationalisation in the FMCG space, which should provide an incremental benefit. All of this suggests that after five years of underperformance, FMCG may be at the start of a recovery. While this quarter's numbers may be muted, our outlook for the next two to three years is positive. Accordingly, we've increased our exposure to consumption in our portfolios. We've just seen the WPI numbers come in at -0.13%, which puts us in deflationary territory for wholesale prices. CPI, too, remains well below the 4% benchmark. In the current scenario — where crude is stable around $70 and the interest rate trajectory is relatively clear — which sectors do you see getting re-rated, and where do you expect de-rating? Sumit Bhatnagar: When it comes to re-rating, we are optimistic about sectors like cement and consumption. In cement, if pricing holds and demand picks up post-monsoon in the second half, we could see earnings improve. As discussed earlier, we also expect a significant pickup in consumption, both rural and urban, in the second half of the year. These two sectors — cement and consumption — are where we foresee meaningful re-rating going forward. On the other hand, sectors exposed to global dynamics, like IT and metals, could face de-rating. This would be driven by continued global uncertainty and economic weakness in key markets such as the US, China, and Japan — which are critical drivers of demand for commodities like metals. So, those would be the sectors where we see potential for de-rating.
Time of India
10-07-2025
- Business
- Time of India
Equity MFs see surge in inflows to Rs 23,587 crore in June
Mumbai: Investments in equity mutual funds rebounded in June after five consecutive months of declining inflows. Net inflows surged to ₹23,587 crore during the month, marking a 24% jump over May's ₹19,013 crore, driven by fresh subscriptions to flexi-cap, mid-cap and small-cap schemes. While debt mutual funds saw outflows, a buoyant equity market and pick-up in retail participation helped the industry's net assets under management (AUM) scale to a new all-time high of ₹74.41 lakh crore in June, up from ₹72.20 lakh crore in May. The reversal comes after inflows had steadily fallen from ₹39,688 crore in January to ₹19,013 crore in May. It was the 52nd consecutive month of flows into equity schemes since March 2021. Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Seniors: Don't Drink Apple Cider Vinegar For This Reason Gundry MD Learn More Undo Agencies Record SIPs Systematic Investment Plans (SIPs) remained a major driver of retail flows into equity funds. SIP contributions rose to a record ₹27,269 crore in June, up 2.2% from ₹26,688 crore in May. The number of contributing SIP accounts increased from 8.56 crore in May to 8.64 crore in June. Live Events SIP AUM stood at ₹15.31 lakh crore in June, accounting for 20.6% of the industry's total assets, higher than 20.2% in May. A total of 61,91,178 new SIPs were registered during the month. Investor sentiment remained positive despite global uncertainties, with market gains helping equity flows. The NSE's Nifty gained 2.7% and the BSE's Sensex rose 3.1% in June. New Fund Offers (NFOs) also aided inflows in equity funds. NFOs raised ₹1,986 crore across 20 new open-ended schemes in June. In the equity category, flexi cap funds registered highest inflows of ₹5,733 crore, followed by small cap funds that recorded inflows of ₹4,024 crore. Total mutual fund folios climbed to 24.13 crore as of June, reflecting continued investor interest. Retail mutual fund folios (equity, hybrid and solution-oriented schemes) rose to 19.07 crore in June from 18.84 crore in May, while retail AUM grew to ₹43.99 lakh crore from ₹42.20 lakh crore a month earlier. Hybrids Arbitrage funds contributed ₹15,584.57 crore - the most among hybrid-based funds - though inflows were marginally lower compared with May. The inflows in multi-asset allocation funds that invest in equity, debt and gold grew 9.7% to ₹3,209.9 crore in June. In June, Gold ETFs witnessed inflows of ₹2,080 crore, up 613% from ₹292 crore recorded a month ago. "Almost a 10 times jump in gold ETF inflows suggests investor desire to diversify their asset allocations in an uncertain global environment and hedge against any global volatility," said Sumit Bhatnagar, Fund Manager - Equity at LIC MF. Debt Funds Debt mutual funds recorded net outflows of ₹1,711 crore in June, with liquid funds recording the most outflows. Liquid Funds saw the highest outflows at ₹25,196 crore, largely driven by corporate advance tax payments, though this was 37% lower than May outflow of ₹40,205 crore. Overnight Funds also remained negative with ₹8,154 crore in outflows. While the debt segment largely remains influenced by liquidity and rate expectations, shorter-duration funds benefited from investor preference for relatively safer avenues amid interest rate uncertainties. Ultra Short Duration Funds grew 59% to ₹2,944 crore. Short Duration Funds jumped 474% to ₹10,277 crore from ₹1,790 crore in May.
Economic Times
13-06-2025
- Business
- Economic Times
Consumption and infrastructure 2 top compounding themes in market now: Sumit Bhatnagar
Sumit Bhatnagar, Fund Manager, LIC MF, says consumption is expected to rise and can be a top compounding theme as factors that slowed it down recede. Rural consumption has revived and urban consumption should follow. Tax cuts and RBI measures on unsecured loans will help. Government pay commissions in FY27 and FY28 will inject funds. The second compounding theme is infrastructure. India needs infrastructure investment in power, ports, railways, and roads. Focus on infrastructure is expected to continue. After that RBI bazooka of repo and CRR cuts, the Indian markets were seen to be trending higher, but given the fact that the crude oil is now showing a surge in the international market, what do you make of the market and where are we headed from here? Sumit Bhatnagar: We are positive on the markets over the near term. We are seeing a very clear sign of economic revival as also a potential for corporate earning revival as well. If you look at the global environment that we are in, both the IMF and World Bank have cut their global growth estimate by 50 bps. In that kind of an environment if your economy is growing at 6.5%, it is still a pretty decent number. With the recent policy measure that you just mentioned by the RBI both on the monetary side as also the regulatory step that they had taken earlier, it provides a significant support to your economic growth outlook. If the credit growth revives and if the credit growth picks up, then there can be a small positive surprise on the RBI GDP growth estimates as well. In that kind of an environment, markets should do well from here onwards also, but that should broadly be in line with the corporate earnings expectations which we expect to be in a low double digit return, low double digit over next one or two years. In so far as crude is concerned, even at $70 crude is not a major concern for us as it is within the budgeted numbers, its impact on inflation can easily be managed. What are some of the top secular or compounding themes in the market right now? What are you liking among the sectors at the moment? Sumit Bhatnagar: The top compounding themes to my mind would be consumption now. What has happened is that over the last two years consumption has lagged, but now the factors that were impacting the consumption or leading to slowdown are slowly receding. While we all know that rural consumption has revived, urban consumption also should now revive over the next one or two years. One is led by the tax cuts that the government has announced. Secondly, the steps that RBI has announced in so far as your unsecured loans are concerned should also help in revival of urban consumption. More importantly, in FY27, we expect central government's pay commission to come in and at the same time, one year later, maybe in FY28, some state government pay commission should come in and that should push in around Rs 2.5 lakh crore into the hands of one-and-a-half crore employees and that should provide some bit of a support to second compounding theme is infrastructure. We think India still is very underinvested in so far as infrastructure is concerned, including power, power transmission, ports, railways, and roads. If you are planning to be a major manufacturing hub, you want to be a China plus one type of an alternative, there is no choice but to invest heavily into infrastructure. Both the central and state government's focus continues to be on that. Last year may have been an aberration. We expect focus to continue going forward. So, these two would be the key themes for me. Help us with your take on the IT pack as well. The sector has not participated much in the recent rally that we have seen, but for the past couple of days, select IT counters were buzzing. Is there merit to once again look into any of the IT counters? Can they do well? Sumit Bhatnagar: IT as a pack is in a very tricky situation. While valuations have corrected somewhat over last six months led by global uncertainty, if we do not see a revival in global growth, if uncertainty around us does not recede or US-China does not recede, we can continue to see disappointments in it, so that is one space where there is a potential of a downgrade if the global uncertainty does not recede per se. And if you talk about the overall market construct right now, Q4 FY25 earnings have been better than what the Street was estimating. On the back of this, do you believe there are any sectors that need to be relooked or revisited in terms of any rerating, derating perhaps? Sumit Bhatnagar: Broadly we expect low double digit type of earnings at a largecap level over next two years. But in terms of sectors, maybe financial, both banks and NBFCs can now surprise positively. The recent RBI measure can help banks in managing the NIMs much better with a CRR cut that they have announced. Plus, frontloading of the repo rate cut should help NBFCs as well. With credit growth revival, there can be earnings surprises in both these segments. Secondly, telecoms with the possibility of a tariff hike can surprise positively on earnings. Cement, we expect to do well with the prices holding up firmly and with the volume growth of 6-7%, cement can surprise on upside in so far as earnings are concerned. Consumption over the next two-three years can surprise if demand picks up. Drivers are now getting in place for demand revival, but we need to watch out for that. What is your take on metals? We believe the government is likely to hike the safeguard duty on the steel products beyond 12% and on a month-on-month basis, we are seeing domestic steel production inching higher. What will impact the steel stocks? Will it be the demand, will it be the price, or will it be supply? Sumit Bhatnagar: Our sense is that in the entire metal space, steel is one segment that should do reasonably well. Even without your government support on anti-dumping or safeguard duties, steel volumes were still growing at a pretty healthy 8-9%. And with the government's plan to hike duty to 24%, it could only reduce the cheap Chinese imports that are coming in. So, maintain a positive view on steel, but valuations also need to be looked at in steel stocks. What is your take on emerging sectors like aviation as a subsector of defence? We have already seen a significant runup in some of these defence counters. Would you still continue to be bullish on defence and also aviation in terms of drones as a subsector of defence? Sumit Bhatnagar: So far as defence is concerned, till about a month back, it used to be a narrative sector, but after the proof given in Operation Sindoor, the narrative part is over, now they can actually offer a very attractive opportunity over a medium to long term. With the kind of proof that we have seen, we do expect some bit of an inquiries or increase in inquiries for your defence platforms as well. Earlier, we used to export support consumables, but now platforms also are a fair game but that is going to take time. So, in so far as near-term is concerned, the recent rally prices in a lot of positives and space as a whole may be a fairly priced or maybe inching towards valuations as well. In so far as drones are concerned, we have seen the importance of drones in Operation Sindoor per se and even in Russia-Ukraine war. Now drones are a very effective weapon system as well. Drones have both a defence as also your industrial application. As a space, drones can do well, but unfortunately there are not many options available to play this space.
