Top market and economy voices on Macrotech Developers IPO, markets, COVID-19, and more

SUMMARY

Here is what market gurus and industry captains said about the near-term trajectory on April 8, 2021.

By CNBCTV18.comApr 8, 2021 9:32:05 PM IST (Updated)

On Macrotech Developers IPO | Deepak Shenoy of Capital Minds: The financials have substantially deteriorated over the last few years. It had a substantially high amount of debt relatively lower amount of revenues. Although the company’s land banks and size of its unsold portfolios are fairly large we believe the problem is the debt. This IPO is not going to reduce that amount of debt in any meaningful manner. Catch the conversationhere.

On COVID-19 and bull run | Hugh Young, MD, APAC region, Aberdeen Standard: I do not see, certainly in the short-term, de-railing the bull run in India and there is strong support for markets worldwide and that’s through a situation such as strong economic growth, demand and also responsive governments putting money into the market. Catch the conversationhere.

On interest-on-interest | Krishnan ASV, Lead Analyst for BFSI, HDFC Securities: Interest-on-interest for banks was not a surprise. There is a lot of elbow room for banks. Q4 itself having to take a hit is not a surprise. How much of that hit will be borne by the government – still no one has an answer. That number is going to be about Rs 6,000 crore for the industry. Even all of that was to be absorbed by the banking system, that is about 1.5 percent of the pre-provisioning profits. Catch the conversationhere.

On Auto Industry | Vinkesh Gulati, President of Federation of Automobile Dealers Associations (FADA): March last year was a mixed bag. We had seen BS-IV, BS-VI transition happening and even the lockdown happening in the last 7 days. So, it is different for different categories. BS-IV, BS-VI transition for passenger vehicle had been better. So we are seeing good growth if we compare year-on-year (YoY). So passenger vehicle has grown by 28.39 percent and it is seeing green trajectory for the past 4-5 months and we are expecting this to continue. But all the other categories have not grown. So, overall industry has de-grown around 28 percent. So even post-COVID the recovery is still not been able to come to the pre-COVID level. Catch the conversationhere.

On stocks | Gurmeet Chadha, Co-Founder & CEO at Complete Circle Consultants: We have discussed Tata Steel earlier, Hindalco looks very good to me for the long run. Voltas is one of the preferred plays, Havells continues to do well, Polycab is much more reasonable vis-à-vis some of the more expensive plays in this space. Catch the conversationhere.