Latest news with #Thirumalai
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Business Standard
27-05-2025
- Business
- Business Standard
UBS says India's 60% valuation premium to EM peers not justified
Indian equities command a 60 per cent premium to emerging market peers, which is not justified given the "ordinary" earnings growth, said Sunil Thirumalai, head of emerging market and India equity strategy at UBS, during a media briefing on Tuesday. "Historically, India has commanded a 25 per cent premium to other emerging markets. It peaked at about 90 per cent in September last year and is now down to 60 per cent. This is still a significantly higher premium compared to history," said Thirumalai. He added that the earnings and other fundamentals of Indian firms do not justify such premium expansion. "One of the biggest reasons behind this premium expansion is domestic flows. The retail flows in India have been so strong that they have supported markets despite the ordinary numbers reported by companies," said Thirumalai. He said the revival in foreign portfolio investor (FPI) flows will depend on India's fundamentals. UBS recently upgraded its stance on the Indian markets to "neutral" and has set a year-end Nifty target of 26,000. "We upgraded India because it is a very defensive and domestic profile, which is important in this market. But valuations are still pretty expensive. That's why it's hard for us to make it overweight now," Thirumalai said. He added that China remains one of UBS's most preferred markets. "The companies have been giving you decent earnings growth, even in the last three months, all through intense tariff news flow. China has seen some earnings upgrades, whereas most of EM has seen downgrades, and valuations are still cheap," Thirumalai said. Apart from China, UBS prefers Indonesia, Thailand, Malaysia and the Philippines in the ASEAN region.
Time of India
29-04-2025
- Science
- Time of India
Extreme monsoon from global warming may lead to dip in sea fish catch: Report
Global warming is likely to lead to more intense and erratic monsoons in the region. To understand how such shifts could impact marine life in the Indian Ocean , a team of researchers examined ancient plankton shell records from the Bay of Bengal seabed, dating back 22,000 years. Their findings raise concerns about the future. #Pahalgam Terrorist Attack The groundwork before India mounts a strike at Pakistan India considers closing airspace to Pakistani carriers amid rising tensions Cold Start: India's answer to Pakistan's nuclear threats Monsoon extremes over the past 10-20,000 years led to disruptions in ocean ecosystems and a crash in marine productivity in the Bay of Bengal, showed their study, published in Nature on Monday. Combining these historical patterns with climate projections, researchers found that intense monsoons caused by global warming could result in similar disruptions in marine productivity in the future. "We argue that as the monsoon becomes stronger and more variable, productivity collapses," said Kaustubh Thirumalai, the study's lead author and a scientist at the University of Arizona . That's important, he notes, because although the Bay of Bengal covers less than 1% of ocean area, it generates almost 8% of global fishery production. "The hilsa fishery by itself sustains the protein needs of one of the most densely populated regions in the world," he said. 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Man Revealing His Strategy To Earn 3K-5K Daily Income thefutureuniversity Learn More Undo For the study, researchers analysed fossilised foraminifera, microscopic single-cell zooplankton that hold a record of environmental conditions in their calcium carbonate shells to reconstruct the history of the Indian summer monsoon. Interestingly, they found that both extremes of rainfall - low and high - led to similar disruptions in ocean ecosystems, suggesting that marine productivity depends on a specific range of environmental conditions. Weak monsoons occurred in a cold phase between 17,500 and 15,000 years ago, while strong monsoons occurred during a period of warming in the early Holocene around 10,000 years ago. Marine productivity declined in both periods. Live Events How does monsoon rainfall over land influence ocean processes? One way is through river runoff which brings fresh water from the Ganga and other rivers into the Bay of Bengal. This fresh water forms a layer on the surface of the ocean, preventing the mixing of water. "If the water doesn't mix, you don't have nutrients replenishing the surface ocean, the sunlit part of the ocean where plankton photosynthesise," said Thirumalai. Plankton are the foundation of the ocean's food chain. Warmer oceans - and the Indian Ocean is already warming - can also increase this "stratification" of water layers, and prevent the mixing of nutrients-rich waters. "Climate projections under future boundary conditions show stronger monsoon rainfall, warmer surface waters, and weaker winds - all conditions that echo the past extremes we studied," said Tirumalai. The new study is a collaboration between scientists from US, India, and Europe. Another study, from researchers at the Central University of Kerala published last week, came up with similar findings through the analysis of sediments from the Andaman Sea as well as the Bay of Bengal. (With TOI inputs)
Time of India
29-04-2025
- Science
- Time of India
Extreme monsoon may lead to dip in sea fish catch: Study
A new study reveals that stronger, more unpredictable monsoons, driven by global warming, could devastate fish populations in the Indian Ocean. By analyzing ancient plankton shells, researchers found that past monsoon extremes led to collapses in marine productivity in the Bay of Bengal. These disruptions, caused by altered river runoff and ocean stratification, threaten the region's vital fisheries. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Global warming is expected to bring stronger and more unpredictable monsoons to the region. How might these changes affect fish life in the Indian Ocean? A team of researchers tried to answer this question by looking at what happened in the deep past, through evidence left behind in plankton shells dating back 22,000 years on the seabed of the Bay of Bengal. What they found is not extremes over the past 10-20,000 years led to disruptions in ocean ecosystems and a crash in marine productivity in the Bay of Bengal, showed their study, published in Nature on Monday. Combining these historical patterns with climate projections, researchers found that intense monsoons caused by global warming could result in similar disruptions in marine productivity in the future."We argue that as the monsoon becomes stronger and more variable, productivity collapses," said Kaustubh Thirumalai, the study's lead author and a scientist at the University of Arizona. That's important, he notes, because although the Bay of Bengal covers less than 1% of ocean area, it generates almost 8% of global fishery production. "The hilsa fishery by itself sustains the protein needs of one of the most densely populated regions in the world," he the study, researchers analysed fossilised foraminifera, microscopic single-cell zooplankton that hold a record of environmental conditions in their calcium carbonate shells to reconstruct the history of the Indian summer monsoon. Interestingly, they found that both extremes of rainfall - low and high - led to similar disruptions in ocean ecosystems, suggesting that marine productivity depends on a specific range of environmental monsoons occurred in a cold phase between 17,500 and 15,000 years ago, while strong monsoons occurred during a period of warming in the early Holocene around 10,000 years ago. Marine productivity declined in both does monsoon rainfall over land influence ocean processes? One way is through river runoff which brings fresh water from the Ganga and other rivers into the Bay of Bengal. This fresh water forms a layer on the surface of the ocean, preventing the mixing of water. "If the water doesn't mix, you don't have nutrients replenishing the surface ocean, the sunlit part of the ocean where plankton photosynthesise," said Thirumalai. Plankton are the foundation of the ocean's food oceans - and the Indian Ocean is already warming - can also increase this "stratification" of water layers, and prevent the mixing of nutrients-rich waters. "Climate projections under future boundary conditions show stronger monsoon rainfall, warmer surface waters, and weaker winds - all conditions that echo the past extremes we studied," said new study is a collaboration between scientists from US, India, and study, from researchers at the Central University of Kerala published last week, came up with similar findings through the analysis of sediments from the Andaman Sea as well as the Bay of Bengal.
