Starting from June to September quarter, and particularly with the number for September, we did see a very significant bounce back and that appears to have sustained in October. There are still some sectors like hospitality and entertainment that were still under some form of restrictions even into November. But it appears that wherever restrictions are removed, significant momentum does come back.

Share Market Live

NSE

Sanjeev Sanyal, Principal Economic Adviser, Ministry of Finance

**************

In addition to the six airports that have been privatized recently, six more would be privatized shortly. Trains coming out in the PPP (public-private participation) mode; Delhi and Mumbai railway stations which are huge are also looking out for funds in the market. Similarly in roads sector, the National Highways Authority of India was planning a new Toll-operate-Transfer bundle shortly. Power Grid Corporation of India (PGCI) and National Highways Authority of India (NHAI) are working on InvITs. These InvITs will give opportunity to these funds to come and invest in those InvITs.

Tarun Bajaj, DEA Secretary

**************

The markets are taking hope and conviction out of the massive performance that we have seen out of the corporate sector in India in this quarter. We have seen some very stunning numbers across market segments in most sectors. This is something which has surprised as well. It is very surprising to see the kind of performance that corporate India has delivered. It is something which we have never seen even pre-COVID.

Taher Badshah, CIO–Equities, Invesco Mutual Fund

**************

We have been positioning the portfolio more neutral with our emerging market exposure. We are looking for an opportunity to rotate into more cyclicals. Within the emerging markets, you have Asia-Pacific region which is very much dominated by China. The valuations there are high but we think it is high for a very good reason. We think that there is some good support, good opportunities and that would include within the umbrella of India. So we are favourable on that area. We are positive on China and India in that general region.

Brian Jacobsen, Chief Portfolio Strategist at Wells Fargo Funds Management

**************

The rally has been so uniform that it has not made us feel left out in anyway if you just own the private sector banks and other things without having to take active views on which new sector is suddenly coming up and therefore everybody has been able to enjoy it in with whatever position they had or have. I don’t believe that we can have a recovery without some genuine external thing driving it like jobs, investment, government spending.

Samir Arora, Founder & Fund Manager of Helios Capital

**************

There is a lot of move towards personal transportation around the world, people are just bit more wary of public transportation for the time being because of COVID. The markets with higher spending power are western markets - so markets like Europe, US, Australia, New Zealand, Japan, South Korea so these are markets where we are in a very sweet spot. Our long term interest in the next 5-10-15-20 years is all in developing markets.

Sidhartha Lal, the CEO of Eicher Motors

**************

We will be lending to all kind of consumers – automobile, tractors, small traders in the rural markets. I personally think this will help people who will want more than 4-5 year kind of a loan where NBFCs has got the customer but they are conscious of our ALM and therefore maybe we are not either into those kinds of customers. Therefore new bunch of customers will come into this. The availability of liquidity has not been an issue for a large NBFC like us.

Ramesh Iyer, Vice Chairman and Managing Director, Mahindra & Mahindra Financial Services

**************

We are expecting that Q3 should probably be much better than Q2. The volume growth was about 17 percent for the decorative business and overall volume growth was around 16 percent. October was much better than what we were doing in August and September. The company is growing better than the industry average. Most of the demand is coming from the tier-II, tier-III and tier-IV towns. The demand there has been particularly strong, though it is also picking up in the urban centres.

Abhijit Roy, MD and CEO, Berger Paints

**************

While deal wins are there, the execution is not as quick as it used to be. But now that markets have opened up, the execution also has picked up. I believe that Q3 and Q4 is going to be good for both deal wins as well as for execution. We saw some very good deals in Q1. But that could not be completed from a transition perspective in Q2 and that revenue has shifted in Q3 and Q4. So, I believe that our Q3 and Q4 will make up for what we could not make up in Q2.

Dharmender Kapoor, CEO, Birlasoft

**************

You will find individual spots everywhere and so you have to be very stock specific. You have to understand that you are very close to all-time high on the Nifty and so individually you will not find particular sectors where you will find value. But individual stocks you will find a lot of value everywhere.

Nischal Maheshwari, CEO-Institutional Equities & Advisory, Centrum Broking

**************

Overall for the year, FY21 we can expect about 10 percent dip in sales compared to FY20. We expect the March quarter to be better than the September and December quarters. We expect to see revenues - from its new plant of Butyl Phenol - kicking in from October-November. The capex for Butyl Phenol was done last year. The total expected revenue from this capex is Rs 400 crore. Most of it will account for only in FY22.

Vinati Saraf Mutreja, Managing Director at Vinati Organics

**************

We are exiting the corporate lending business which had been a mainstay income for us. We are not doing any disbursements. So there is a dip in that income. We are also carrying huge money. So there is a negative carry there. That is why our NIMs are at 5.6 percent. But we will be definitely between 7-8 percent once we start used vehicle finances because that would be at 17-18 percent. The collections in September-October having reached 100 percent, our restructuring demand has been only 0.6 percent. So we are encouraged by the kind of asset quality we have post in retail business. So, we are going to aggressively lend money from this month.

R Sridhar, Executive Vice-Chairman & CEO, Indostar Capital Finance

**************

We are seeing a steady uptick in the demand. The demand was earlier coming from the rural sector but gradually there is an uptick from the infrastructure sector as well. The primary reason was the return of migrant laborers to the project sites. Year as a whole we should end up somewhere near 13 million tonnes compared to 13.6 million tonnes last year. In the first half, we have done around 5.7 million tonnes.

Aditya Saraogi, CFO of Birla Corporation

**************

We had strong growth overall, 11 percent growth in India and 11 percent in our international markets with 19 percent EBITDA growth. We were sort of disappointed with our household insecticides growth because it was very strong Q1 and we were expecting a double digit growth in this quarter. We did get impacted by supply chain issues. Q2 and Q3 for household insecticides are more salient than Q1 and Q4 so we were not able to meet demand in some key SKUs. Going forward we are definitely seeing tailwinds in categories like hygiene and household insecticides. Even in categories like hair colour and hair care sequentially improvement.

Nisaba Godrej, Chairperson and MD of Godrej Consumer Products

**************

On a year-on-year (YoY) basis in H2 we expect a double digit volume growth. In terms of EBIT margins as I said, over the 18-24 months we expect these margins to sustain, but there could be short term volatility. If you look at the next 12 months, we expect our capacity to grow by another 30 percent from here. So this 26.50 million will go to around 37.50 million. So there is a large bump up in our capacity which is expected over the next 12 months and this will get commissioned every quarter.

Puneet Dalmia, MD of Dalmia Bharat

**************

We have 67 percent collection efficiency. We have seen steady improvement from about 51 percent moratorium what we had given, it has come down to 31 percent as of now. Now only Rs 936 crore remain where we are trying to sort it out. From 2.48 percent, net interest margins has come up to 2.66 percent - global. Sequentially, it has grown up from 2.73 percent to 2.88 percent. It is primarily driven by our good NII growth both sequentially as also quarter-on-quarter (QoQ).

AK Das, MD & CEO, Bank of India

**************

MRF in particular, I think the entire tyre industry has come out with very good set of numbers, call it pent-up demand, call it an improvement in transportation, it could also be lower threat of imports because lot of curbs have been placed on Chinese imports. All of these have certainly improved prospects for tyre companies. In case of SRF, I thinking surprisingly fantastic results coming in from the company and it was not just the specialty chemicals, but the films division the BOPP films division has done exceedingly well. So both these companies are great in terms of long term investment.

Dipan Mehta of Elixir Equities

**************

On the NCLT front, we hope that things will be going back to normalcy and more and more resolutions will be taking place, we are quite hopeful. This time we have reduced our NPAs through cash recoveries and not through write-offs. Our provision coverage ratio (PCR) has almost reached to 89 percent – one of the best in the banking industry – and gross NPA PCR is more than 70 percent. We are making our balance sheet stronger.

Pratim Sengupta, MD & CEO, Indian Overseas Bank