- #Sensex, #Nifty trade in green
- #BajajAuto & #TVSMotor report earnings today
Find out where money is moving in the market today with Hiral Dadia and Agam Vakil on 'Hot Money'. #NDTVProfitLive
- #BajajAuto & #TVSMotor report earnings today
Find out where money is moving in the market today with Hiral Dadia and Agam Vakil on 'Hot Money'. #NDTVProfitLive
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TVTranscript
00:00 volatility sensex trades below 70 600 meanwhile nifty hovers around the 21 300 mark
00:07 most sectoral indices in the green banks lose gains after early gains media and metals top
00:16 the gainers list meanwhile access bank comes out as the only sore spot in bank nifty now as the
00:26 company's q3 earnings fail to enthuse investors and on the watch list today two-wheeler major
00:34 bajaj auto and tbs are all set to report their q3 numbers double digit increase in profitability is
00:41 expected and it's an ndtv profit exclusive sources tell your channel that the granular
00:50 details of fbi's beneficial ownership are likely to be less than what sebi estimated
00:56 the impact is expected to be limited
01:14 hello and welcome this is hot money i am agam vakil and with me is hiral dadia and you're
01:21 watching all that we can look for in terms of all the stocks which are buzzing in trade today
01:26 and for now let's take a look at the markets which are in fact have to have given up all the
01:32 gains that we saw through the course of the day now at least as far as the nifty is concerned it
01:37 is currently trending in the green but it is flattish now and that one percent up move is
01:45 no longer present at as far as the benchmark is concerned it is the same for the nifty bank nifty
01:52 pardon me in the fact the bank nifty has gone into the red and also lost out on the 45 000 mark
01:59 now at 44 900 so there certainly seems to have been some weakness well which has moved back
02:07 remember at one point in time we were nearly there at 45 500 and well you know the the the weakness
02:15 in the bank need just doesn't just doesn't let up so we do have a lot of weakness which is returned
02:21 to the benchmark the question really is how long how much longer do we have to wait before we
02:26 actually start seeing a bout of short covering you know a lot of analysts that we have been talking
02:31 to are suggesting that the volatility is not over we are not yet out of the woods for now
02:38 it's going to be a wait and watch and we certainly could have some more induced volatility before
02:44 well the upcoming vote on account which happens of course on the 1st of February this upcoming
02:49 Thursday be keeping an eye on that one that said as far as your broader markets are concerned again
02:56 given up a lot of the gains through the course of the day but we still have a little bit of
03:01 recovery playing out for the likes of REC and PFC which are the top gainers as far as your
03:07 well mid-cap index is concerned. IEC and PFC there's no stopping these are is there because
03:13 we're seeing these stocks move advanced by around five and a half to six percent Z entertainment is
03:19 now seeing a bout of well short covering coming through this is advancing by as much as five
03:25 percent the specific news updates but of course we will be taking this up with our expert as well
03:32 and as far as you know your losers are concerned very quickly we are still looking at a lot of
03:38 weakness in Oberoi Realty for the second straight session down six and a half percent and Tata Elxsi
03:44 which is also another one of the fun favorite which is down around 4.1 percent on the whole
03:49 markets are looking less stable than they were about a couple of hours ago here.
03:55 Absolutely but clearly if you go to see Agam there's a little bit of out performance
03:58 coming in from the broader markets as well in today's session after the kind of cuts that
04:03 we've already seen but let's quickly pick up all the stocks that we'll be discussing in trade today
04:09 REC as Agam mentioned that's going to be on our radar in today's day of trade from the banking
04:13 pack you have Karnataka Bank, South Indian Bank, Axis Bank as well as an HDFC Bank that will be
04:19 in focus. We will be looking at IFCI which has seen a good buzz overall, Tata Steel DLF that will
04:26 be reporting numbers today as well as a Tech Mahindra that will be reporting numbers today so
04:30 these are a few of the stocks that we will be discussing with Ashish Kapoor CEO at Invest
04:34 Shopee. Ashish good morning good afternoon and welcome to the show but before I come across to
04:41 you let's quickly pull up our REC on the screens and see what the counter has done in trade because
04:46 clearly a good up move coming in there and this is on the back of the way the earnings have panned
04:52 out 6% upside. We did speak to the management as well let's hear him out. What we had achieved in
04:59 last year in one year this we already achieved in first nine months of the current financial year
05:06 with regard to sanction we have sanctioned more than 3,25,000 crore in first nine months as
05:11 compared to 2,68,000 crore which we had sanctioned in the last financial year in 12 months. Similarly
05:17 our disbursement has increased phenomenally last year in the entire year our disbursement was about
05:24 97,000 crore in at the end of nine months on 31st December 2023 our disbursement has touched 1,22,000
05:34 crore so we are doing exceedingly well and our asset management is going at the rate of 20%
05:41 so we hope to maintain this growth trajectory and our focus is on renewable energy projects
05:47 that we are going to increase our renewable energy portfolio and we are also focusing on
05:52 non-power intersection logistics that growth is happening our asset management is going at the
05:56 rate of 20%. So AUM going at 20% disbursements to cross 1.5 lakh crore in FY24. Ashish how are you
06:05 looking at a REC with the kind of run-up that we have already seen in 2023 and now and simultaneously
06:11 a PFC also has been on the buzz what would you advise investors to do? Well I think the run-up
06:18 has been quite immense so despite the change in fundamentals and the re-rating I think the run-up
06:26 is a lot I think the correction which has started it was long overdue and I think will take time so
06:32 you can hold on if you have bought at the lower levels and you are a long-term investor hold on
06:36 but fresh buying can easily be deferred I think you will get better rates going forward.
06:42 Do look out for buying opportunities but I think that would be closer to 400 where the comfort
06:48 factor on the risk would be favourable. Okay from there on we move on and address two public
06:53 sector banks because they have come up with their earnings. The first one is Karnataka Bank. Their
06:58 net interest income on a year-on-year basis has really not improved as much. We are in fact looking
07:03 at a deceleration of 1% year-on-year. That said its profitability has risen 10% year-on-year but
07:10 of course we must keep in mind that a lot of other factors will play in favour of profitability a lot
07:17 of that could be one-offs as well. The provisioning however has stayed higher by as much as 12% this
07:23 is of course once again year-on-year even though the sequential number would be a little more
07:27 pertinent and moving on we also have South Indian Bank. That is also where we have seen a decline in
07:35 net interest income to the tune of 1% and your net profit has well moved three times but again we have
07:43 to remember that this is largely on account of one-offs. It's a gross NPA numbers and net NPA
07:50 numbers have come off sequentially to a certain extent but I reckon to a certain extent we have
07:57 to keep in mind the kind of impact it can have, the systemic impact while a lot of these banks can have
08:04 should we see weakness as far as some of these counters are concerned. Ashish, how are you
08:09 viewing the PSU space in general, the PSU banking space in general? It certainly has outperformed
08:15 the private sector's banks off late in the last one to three months period but how do you place
08:22 and if there are any counters that you like in this sector? Well, I think the outperformance
08:30 will continue. Yes, they can be more volatile because again here the run-up has been a lot but
08:34 I think stocks like SBI to start with and even Canbank, BOB, PNB all have I think reasonably
08:44 good upside potential. So, I think one should stay invested and look for buying opportunity
08:50 on the way down. I think despite the run-up there is more sleep but of course buying can
08:57 be done in a staggered way because there would be more volatility going forward.
09:01 Right. So, that's with regards to where the PSU banking space goes. Overall if you go to see
09:09 the private banking space also is in focus from an ICICI bank to AXIS bank as well as HDFC bank.
09:15 These are stocks that we will discuss right after a short break. Please stay tuned to NDTV Profit.
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