- #Sensex, #Nifty slip into red
- #MutualFund industries' AUM crosses Rs 50 lakh crore
Find out what's happening in trade so far with Hersh Sayta on 'Market IQ'. #NDTVProfitLive
- #MutualFund industries' AUM crosses Rs 50 lakh crore
Find out what's happening in trade so far with Hersh Sayta on 'Market IQ'. #NDTVProfitLive
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TVTranscript
00:00 trading with a cut of 0.5% or thereabout. The Nifty small cap, still a wee bit of outperformance
00:05 where the small cap index is concerned, down only around 0.25% while the benchmark is down
00:11 around 0.75%. Let's quickly shift focus to sectoral indices. You have the likes of a
00:16 Nifty Media, a Nifty Realty which is trading in the green. You also have the likes of a
00:22 Nifty Auto which is down around 0.5% or thereabout. But let's have a quick look at the Nifty Bank
00:29 that's down around 0.8% which is 0.4% in trade today. Financials dragging the pack around
00:37 0.5% cut on the Nifty FIN and you're looking at FMCG which is down around a percent and
00:43 a half. IT which was positive on Friday is now trading with a cut of 1% actually reversing
00:51 all of those gains it made on Friday. The Nifty Metal also trading with a cut of 1%.
00:56 The Nifty PSU banked down a percent and a half. So it's a strong quote of red when I'm
01:03 looking at sectoral indices as well except if you talk about Nifty Reality which is in
01:08 a universe of its own and the Nifty Media which is up around a percent in trade today.
01:14 So quickly let's shift focus. FMCG is the story at play today. Slew of companies have
01:20 come out with their third quarter business updates. Among them you have the likes of
01:23 Marico, Godrej Consumer both trading with cuts in trade today. Mahima joins in with
01:28 all of the details on those. Right Harsh. So as you rightly mentioned Marico and GCPL
01:34 came up with their company updates today. Talking about Marico, the domestic volumes
01:37 grew on single digit basis and international business delivered amid single digit constant
01:44 currency growth. However, consolidated revenue decreased by single digits and still Marico
01:50 has seen robust gross margins because of decline in their raw materials. We had two brokerages
01:56 report on Marico today Nomura which has maintained neutral rating with a target price of 600
02:02 because they believe that this is yet another quarter of weaker than expected sales. Then
02:06 we also had Citi on Marico which has maintained a buy rating for Marico and they expect the
02:10 delay in recovery for H2FI24 but they expect that the growth will improve over medium term.
02:17 And we have Godrej Consumers where volumes in India, Indonesia had a double digit growth.
02:22 Even in Latin America they saw positive volume growth whereas volume growth in Africa, US
02:27 and Middle East might they expect that it might see a single digit sales decline. They
02:34 believe that the reported sales growth has seen a flattish in terms of rupee terms but
02:39 however they continue to drive YY expansion on EBITDA. Now we also had multiple brokerages
02:44 on Godrej Consumers today. Nomura which maintains a buy with a target price of 1 to 4.0. Then
02:50 Nuama where they expected EBITDA to grow at 11% versus initial expectation of 8 to 19%.
02:59 And then we have Citi on GCPI which reiterates buy and Marico still remains their top pick.
03:05 So it's interesting to know that despite of company updates which have shown a pretty
03:10 much flattish growth, brokerages are still bullish on stocks like Marico and GCPI.
03:16 Right. Thanks so much for that Mahima. Still some amount of bullishness left but 4% cut
03:21 is what both of them are trading at today. So definitely something that may cause a bit
03:26 of worry for investors. But you are looking at the likes of Titan and if we can have that
03:31 graph up as well. Trading with a slight bit of cut even though it was in the green in
03:36 early trade today. That's where Titan is currently at. That one came out with its numbers as
03:40 well. A decent set coming out from Titan. Though let's quickly switch focus. We had
03:45 the Amfi mutual fund data coming through and the net AUM as on 31st December 2023 has now
03:51 crossed the 50 lakh crore mark. This is of course a huge benchmark which it seems that
04:00 the Amfi as well as the mutual fund industry has managed to cross. And you also saw SIP
04:05 data cross that 17,500 crore per month mark. The bull run of course aiding some of those
04:13 and what we've seen is there's been a bit of a shift. Your fixed income assets have
04:17 actually seen outflows of around 75,500 crore for the month of December while the total
04:25 mutual fund AUM has crossed the 50 lakh crore mark. And you did see December being the record
04:33 month where SIP flows were concerned. So, couple of positives coming through there.
04:39 But let me quickly take it to some stocks which seem to be buzzing. Today we had the
04:45 likes of Cupid bonus issue coming out over there. You had Jupiter Wagons. We will speak
04:50 more about that 2% plus in trade today. The likes of Jupiter Wagons. Among others you
04:57 have the likes of Bank of Baroda coming out with its quarterly update. The stock is down
05:01 roughly 3 odd percent. You also have the likes, we did speak about Godrej Consumer Marico
05:06 but you also have the likes of Federal Bank. Leadership change, so around 2.25% cut there
05:12 as well. FIIM Industries on the back of a possible bonus issue. The stock is up and
05:20 away 9% on FIIM Industries and you have Signature Global which came out with its update 3.5
05:26 odd percent higher. But let's quickly switch focus again. We spoke to Sunil Subramanian
05:32 of Sundaram Asset Management and D.P. Singh of SBI Mutual Fund on their respective takes
05:40 with regard to the Amfi data which came out. Let's listen in to what they had to say.
05:45 I think this is a fantastic milestone because it's a culmination of years of hard work by
05:52 the fund managers, by the customers, by distributors in growing this and our journey is ultimately
05:58 the 100 lakh crore mark, the one trillion mark and I think that this will make sure
06:03 that over the next three to four years we can expect to reach that. This also comes
06:07 at a time when our country's market cap has now become the fifth largest in the world
06:13 with a 3.8% share of the world market cap. So, I think the stock market's growth along
06:17 with the industries and this growth though the market grew 20% last year, it is also
06:22 that about 60 companies have come in through IPOs. So, it's an expanding market giving
06:28 a larger universe and I think ultimately the journey of making sure that the retail customer
06:33 finances the growth of the country through the capital markets. I think mutual funds
06:38 are playing a very important role in that and it's a very important milestone which
06:41 we need to celebrate. This is definitely a very momentous moment for all of us to have
06:48 a 50 lakh crores AUM number. So, this is definitely a milestone which the industry was looking
06:54 at for a long time and see one thing is very clear that financialization of assets in India
07:00 is growing and growing very, very fast and that's evident from the numbers, evident
07:06 from the SIP numbers 17,600 crores is not a small amount, it's basically more than
07:13 2 billion dollars with the average ticket size of less than 25 dollars from international
07:18 standard point of view. So, this is very, very healthy. At the same we are very happy
07:24 at the same time concerned that people are taking more than required risk, more and more
07:29 money flowing into small cap. My only concern is that people may not burn their fingers
07:35 over the period of time because we have seen three, four cycles and once some set of people
07:40 burn their fingers, they don't come into the market for a decade. Though this time is little
07:45 different because most of the people who are investing, they are much more evolved than
07:50 ever before. Right, that's all the good news that we had
07:56 with regard to the Amfi data coming through. But another stock, another counter which has
08:01 been buzzing since a while now, a slew of order wins coming in, 2000 crore worth of
08:06 order wins in the last month or so and the stock is Jupiter Wagons. The stock has surged
08:12 as much as 2% on the back of order wins today as well, in fact up 2.5% as we speak. You
08:19 know I caught up with Vivek Loya who is the MD with regard to order trajectory, whether
08:24 they will be able to maintain their market share. Here is a slice of their conversation,
08:28 also spoke a bit about returns. Listen in. We are aggressively looking at capacity expansion.
08:36 I think before the end of this financial year, now we are looking to produce close to about
08:41 1000 wagons a month. So we will continue to be aggressive when it comes to government
08:50 tenders and we would like to maintain our market share. And now the future tenders which
08:57 are coming is basically towards supplies in FY26 onwards because more or less now the
09:06 tenders which have come out have covered FY25. So we will continue to build on our order
09:13 book. Right, that was Jupiter Wagons up and away
09:19 in trade today, 2.5% higher. But another one which is up and away in trade is Chambal Fertilizer.
09:24 They have approved a 700 crore buyback at 450 rupees a piece. You can see the stock
09:30 up and away after that announcement. 381 rupees now on the stock but 450 rupees is the buyback
09:37 price, 700 crore is the quantum of the buyback. But let's slip into a very short break. We
09:43 will continue with all of the market action on the other side. Stay tuned to NETV Profit.
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27:29 Hi, thanks so much for tuning in. This is the Mutual Fund show on NDTV Profit
27:34 and I'm Alex Mathew. It's a landmark moment for the mutual fund industry.
27:38 Net assets under management as of the end of 2023 stood at over 50 lakh crore rupees.
27:45 That's a growth of over 27% and that's over the course of 2023.
27:51 Most of that is because of actively managed equity mutual fund schemes.
27:55 On the one hand, markets have been incredibly supportive with the mid-cap and small-cap end of the market rising by over 40%.
28:02 And on the other, there's been a flood of inflows into these funds.
28:06 In fact, just these two categories have seen inflows of nearly 64,000 crore rupees in 2023.
28:14 It's been tough for actively managed funds to beat the benchmark in 2023,
28:19 but there are a few that have managed to do just that.
28:22 And one fund house has ranked at the top in both those categories in 2023 and that is Mahindra Manulife.
28:29 To talk about the strategies that worked and the philosophy that has gone into the portfolio construction
28:34 in both of these schemes, I'm joined by Krishna Sanghvi, who is the CIO Equities at Mahindra Manulife.
28:40 Thank you so much, Krishna, for taking the time.
28:42 Thanks, Alex. Thanks for having us.
28:44 Now, before we launch into this conversation, I do want you to listen to the new Chief Executive Officer of Amphi,
28:51 talking about the latest figures.
28:54 One important thing that I would like to tell you while I talk about the data is the growth in which we have moved.
29:02 I mean, we have seen as of 2013, the numbers were around 10 lakh crores.
29:09 For it to grow to 10 lakh crores to 20 lakh crores, it took three years.
29:15 And from 20 to 30 took again three years.
29:18 30 to 40, it has taken two years. But 40 to 50 lakh crores, when it touched, it took only one year for us to grow.
29:26 So, we are very thankful for all the investors, the AMCs, we are thankful to the distributors, the regulators,
29:36 who are, whose guidance, support, wouldn't have, was very much required for us to achieve these numbers.
29:44 The enthusiasm that we are seeing, as you, one of the points that you asked was, what is the growth that we are seeing?
29:51 If you look at my SIP numbers, the SIPs, there is a growth of around 17,700 crores during this particular month,
29:59 as again, a 17,000 plus crores during last month.
30:03 The trend of the SIPs, although the numbers are going to come, but as we speak now,
30:09 the trend was almost around 66% were coming from the urban centers and 34% were coming from the rural center,
30:16 similar non-top 30 centers.
30:19 But the trend is...