Latest news with #VenugopalGarre
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Business Standard
15 hours ago
- Business
- Business Standard
India holds the top spot in our EM playbook: Bernstein's Venugopal Garre
Garre tells that improving macro conditions and lower earnings risk make this a good time to start evaluating bottom-up opportunities in quality midcaps Listen to This Article Mid and smallcap stocks took a beating during the market correction earlier this year. Venugopal Garre, managing director and India head of research at Bernstein, tells Puneet Wadhwa in an email interview that improving macro conditions and lower earnings risk make this a good time to start evaluating bottom-up opportunities in quality midcaps. His December 2025 Nifty target is 26,500. Edited excerpts: It has been a choppy year for equities globally. Which camp are you in — the bulls or the bears? Globally, we expect continued volatility as policy uncertainty remains high, particularly with ongoing US-China trade negotiations and shifting
Business Insider
31-05-2025
- Automotive
- Business Insider
Bernstein Keeps Their Buy Rating on Bajaj Auto Limited (BAJAJ.AUTO)
Bernstein analyst Venugopal Garre maintained a Buy rating on Bajaj Auto Limited ( – Research Report) today. The company's shares closed today at INR8,607.00. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Garre is a 5-star analyst with an average return of 31.8% and a 78.13% success rate. Garre covers the Consumer Cyclical sector, focusing on stocks such as Sea, Bajaj Auto Limited, and Maruti Suzuki India Limited. In addition to Bernstein, Bajaj Auto Limited also received a Buy from CLSA's Basudeb Banerjee in a report issued today. However, on the same day, J.P. Morgan downgraded Bajaj Auto Limited (NSE: to a Hold.
Hans India
09-05-2025
- Business
- Hans India
India-Pakistan Tension Impacts Stock Market: Sensex and Nifty Fall Sharply
The tension between India and Pakistan in the last two days is making people worried. As the situation gets worse and looks like it could lead to war, the Indian stock market is falling. Yesterday, the market crash caused a big loss of ₹5 lakh crore in investor money. Today, the market is still falling. At 10:09 AM, the Sensex index was down by 863 points. The Nifty index also fell by 283 points. The Nifty Bank index went down 700 points, and the Nifty Midcap index dropped 656 points. At the same time, the India VIX index, which shows how nervous investors are, went up by 8%. What Experts Say The U.S. and other countries are watching the situation closely. Many are blaming Pakistan for starting the trouble and are asking both countries to stay calm. Venugopal Garre, from a company called Bernstein, said he does not think a full war will happen right now. He said that in the past, when such problems happened, the Indian stock market first went down but later came back up when things got better. He also said that smart investors sometimes buy good stocks at lower prices during such times.
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Business Standard
07-05-2025
- Business
- Business Standard
Stock market: Sensex, Nifty post modest gains amid India-Pakistan tensions
Domestic benchmark indices managed to post modest gains on Wednesday despite escalating geopolitical tensions between India and Pakistan, following intense fighting between the two nuclear-armed nations. Experts said investor sentiment remained largely positive due to progress on India's trade talks with major trading partners, including a free trade agreement with the UK sealed on Tuesday. The Sensex rose 0.13 per cent, or 106 points, to end at 80,747, while the Nifty 50 index gained 34.8 points, or 0.14 per cent, to close at 24,414. The broader market Nifty Midcap 100 and Nifty Smallcap 100 logged strong gains of 1.6 per cent and 1.4 per cent, respectively. The India VIX index rose just 0.34 per cent to end at 19.1. The Pakistan market, on the other hand, registered a major decline. The benchmark KSE-30 Index, which fell over 6 per cent during the day, ended the session down 3 per cent. Experts said the Indian market reaction did not reflect any signs of panic among investors. While a knee-jerk reaction was not ruled out, they noted that the overall response indicates expectations of swift de-escalation and limited economic fallout. 'We believe Indian assets will remain fairly contained despite the increase in geopolitical tensions with Pakistan,' wrote Johanna Chua, global head of emerging market economics at Citi, in a note. Market participants also drew comfort from past instances of tension with Pakistan. 'Indian equity markets rebounded on all occasions, and hence we believe buy-the-dip is the best strategy in the event the equity market declines,' wrote Bernstein equity strategists Venugopal Garre and Nikhil Arela in a note issued ahead of the market open on Wednesday. Past conflicts between the two neighbours have shown that Indian equities tend to recover quickly from initial shocks. For example, in February 2019, the Nifty index rose over 1 per cent a week after India launched targeted strikes in response to a terrorist attack. 'The risk of a full-scale war between the two neighbours has not been envisaged in our scenarios, although the Kargil war in 1999 suggests that equity markets tend to move up sharply after a deeper cut. The other angle worth exploring is the influence of ongoing global trade changes post the Trump tariffs,' the note added. Despite the terrorist attack at Pahalgam two weeks ago, foreign flows into India have remained strong. During the past 14 trading sessions (beginning April 15), foreign portfolio investors (FPIs) have been consistent buyers, pumping Rs 44,439 crore into domestic stocks—their longest unbroken buying streak in nearly two years. On Wednesday, FPIs bought/sold shares worth Rs xx crore, while domestic institutional investors were buyers to the tune of Rs xx crore. The overall market breadth was positive, with 2,206 stocks advancing and 1,683 declining on the BSE. Only three out of the 17 sectoral indices of the NSE—healthcare, pharma and FMCG—ended with losses. Meanwhile, the top sectoral gainers were Nifty Auto and Nifty Financial Services.
Economic Times
24-04-2025
- Business
- Economic Times
Why Venugopal Garre is bullish on Bharti Airtel, Adani Ports and Avenue Supermarts?
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel "The perspective is very simple that macro for India as I had indicated in January had bottomed out and more importantly, we are continuing to see some degree of improvements in macro," says Venugopal Garre , MD, Bernstein I guess in January when we spoke post the upgrade, it looked like an impossibility to expect any degree of positivity on the Indian market because the push back was very high, macro was very weak in second half of last year and as I was very cautious in second half of last year, my broader thesis to a large extent interestingly remains intact even today. So, what it means is that I still have a positive outlook on Nifty with a 26,500 target. The perspective is very simple that macro for India as I had indicated in January had bottomed out and more importantly, we are continuing to see some degree of improvements in second perspective was that I was actually expecting around 50 basis points of rate cuts but that has already happened and I do believe that as you mentioned uncertainty, uncertainty globally is actually good because that could lead to more rate cuts and more importantly from a regulatory standpoints and rbi in terms of what they are doing to ease liquidity in the banking system as well. It is a very positive in terms of how things would shape up through the year and early next year as other important point is that both capital expenditure which I was indicating and consumption will be slightly better than last the rate of change of course is going to be positive compared to what it was last year, but all these factors I told you is not going to be so amazing that we can think of 25% or 30% returns from India, so this is the only limiting factor for it is pretty interesting and a deep topic because currency the beauty of it is actually no one knows. I have seen lot of theorists trying to take a call on currency and mostly people go wrong. So, let me tell you my theory with the risk of going wrong, broadly at the beginning of the year my view was that dollar index has peaked out, that was the view written in our report and the dollar index over time will moderate.I did not expect a moderation within the first three months, over time through the year will moderate, which will enable primarily India to cut rates, so without having to worry about currency depreciation, so that was a broader remember at that point of time we were aware of tariff risks, but we were not aware of 100% plus tariffs. We were not aware of those issues. Now, fundamentally from here what is the risk? The risk from here is if us and China eventually continue to be in the current situation, nothing improves out there, there is going to be excess supply of products or capacity with China. Now what does China do with that eventually?It is going to find its way into the global trade ecosystem either through dumping of products or through currency changes. So, my biggest fear from here is not about dollar index, but what directly happens to Chinese renminbi and what they actually do from a policy standpoint later in the year when we have an idea of how these things are shaping up and that is when emerging market currencies including India potentially could be at some degree of risk. It is somewhere down the line, but not that is true. Honestly, it is very tough to build portfolios in such a volatile environment. Interestingly, the way we approached it is this year was since I was looking at a broad macro recovery and I was cognisant of the global risks, the idea was not to eliminate the entire global risk that is highly impossible to do that and probably portfolio sense also it is wrong to do that. The second theory for us was to look at recovery candidates from a stock standpoint with the risk that we could go wrong on some of them, but the idea was to play third was not to be ultra defensive, but have some defensiveness to the portfolio because none of us like losing money. So, these are the three characteristics of how I looked at things this year. So, beginning of the year the way our sector weights worked were that we felt that domestic stories should have a higher weight which essentially meant that I ended up having my highest overweights in the financial sector.I have overweight on telecom and I ended up upgrading utilities to an overweight. So, these were the three defining overweights for us. We had moved to an underweight in healthcare , remember that was a globally exposed sector. Now after three months of underperformance we are equal weightish had a marginal overweight on it services beginning of the year, we actually cut down the weights quite a bit through the year and we are now more equal weightish, but not underweight are still playing it with particular stocks and this is the conduce of sectors. But from a stock standpoint if you look at our India portfolio, has not really tweaked much in the last four months but has recovery candidates which we had sort of in included in that portfolio, something like Bharti was added to the portfolio, Adani Ports was added to the we had some consumption names like Avenue Supermarts and we booked profits in the Zomato but got do Jubilant. So, it was a very wide range of bottom-up selection honestly.
