Indian equities have surged in recent years driven by strong macro environment, corporate earnings, and domestic equity inflows. However, geopolitical tensions, softening corporate earnings, and commodity pressures are creating short-term turbulence. Despite these challenges, India’s medium-term growth narrative remains strong.
Goldman Sachs has downgraded Cummins to sell for Target Price of ₹2900 (12-10-2024)
Goldman Sachs has flagged 3 concerns
1) CPCB-IV transition has made diesel gensets 15-25% more expensive &with competitors introducing more SKUs in high KVA gensets, expect incremental mkt share gains to be at expense of profitability
2) Expect BESS & other alternatives to reduce overall demand of diesel gensets in medium-to-long term
3) Weak macro environment & stringent emission norms should keep exports growth rates lower
Trade on road to recovery but Indian firms cautious (12-10-2024)
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
Avalon stands out in the EMS landscape as the only player with a significant manufacturing presence (12-10-2024)
Avalon stands out in the EMS landscape as the only player with a significant manufacturing presence in the US. It is successfully navigating challenges with a well-defined recovery plan for its US business alongside continued growth in its domestic operations. TP ₹690
Avalon stands out in the EMS landscape as the only player with a significant manufacturing presence
Remark against PM Modi: SC to hear Congress MP Shashi Tharoor’s plea in defamation case (12-10-2024)
The Supreme Court will hear a plea by Congress MP Shashi Tharoor against a Delhi High Court verdict. The High Court refused to quash defamation proceedings related to Tharoor’s ‘scorpion on Shivling’ comment about Prime Minister Modi. Previously, the Supreme Court stayed proceedings in the defamation case and sought responses from the Delhi Police and BJP leader Rajiv Babbar.
After Congress’ Haryana debacle, Digvijaya Singh raises questions over EVMs (12-10-2024)
Rajya Sabha member Digvijaya Singh claims the EVM system infringes his voting rights, following BJP’s unexpected win in Haryana. He states that Congress performed well in postal ballot counts but lost seats in EVM tallies. Singh advocates for a caste-based census and socio-economic survey and supports awarding Ratan Tata a ‘Bharat Ratna’.