Lets have a monthly thread where we can share and discuss all the interesting markets and economy-related content
8 years without a time correction of 20% or more for an year
Tale of extraordinary rise in small and midcaps and what generally happened after such great years in the past
Indian small & midcap companies valuations are nearing record highs compared to rest of the world
Globally equity markets are enjoying one of the most stable uptrend seen. Volatility readings across the world are subdued. Watchout for upcoming events
You can read the full report here
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Gnome
February 20, 2024, 5:16am
3
So 1987 is just around the corner, thanks for the report Meher.
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GQG’s Rajiv Jain, famously known for investing in Adani stocks near lows last year and With $22 billion in India, is one of the top FIIs
Link: https://www.youtube.com/watch?v=nDoRoRFlN7A
20 takeaways.
India has a strong runway with a 3 year timeframe
Valuations extended, but not in crazy zone
Top worry is run-up in midcaps, pause possible
10-15% pullbacks are routine
Risk on mindset globally
US election means more stimulus
Adani Green largest renewable co in the world
Access to capital was never a problem for Adani cos
Like airports, bets are GMR Airport & Adani airport biz
Not bought a single Vedanta share
Like oil PSUs, would have bought but liquidity is low
Would have bought LIC, but couldn’t find blocks
PSU cos are vastly under-owned by FIIs
PSU banks rerating is done, now its earnings
Very likely buy HDFC Bk down the line again
IT svcs stocks still not factoring in slower growth
Consumption sectors see slowdown/competition
Infra spend has huge multiplier effect
China is confusing right now, hugely UW on China
Flows leaving China yet to come to India
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