The Core Report

Arvind Chari, the Chief Investment Strategist at Q India UK, shares valuable insights on the Indian equity market. He discusses the recent surge in markets and JP Morgan's bullish Nifty 30,000 prediction. Chari dives into the implications of peaking IPO supplies and contrasts large-cap valuations with those of mid and small caps. He also forecasts strong economic momentum with GDP growth expected to reach 7%, shedding light on factors influencing foreign investments in India and the challenges posed by capital gains tax.

Sajjid Chinoy, an economist at JPMorgan, discusses the implications of Google and Nvidia's rivalry, linking it to deglobalization's effects on emerging markets like India. He highlights Taiwan's booming chip industry as both remarkable and troubling. Meanwhile, Manish Garg, CEO of Interarch, dives into the dynamics of the pre-engineered steel buildings sector, detailing how import duties impact prices and the growing demand for steel construction. Both guests shine a light on current economic realities and their operational challenges.

Kunal Sodhani, Treasury head for India at Shinhan Bank, and Sachin Seth, Regional Managing Director for CRIF High Mark, share insights on crucial financial trends. Kunal discusses the Indian rupee's volatility amid US-India trade uncertainties and the RBI's strategic moves. Sachin reveals a shift in consumer lending towards secured loans and the credit behaviors of Gen Z. They explore how tech-driven lending is reshaping strategies and mitigating risks in the evolving economic landscape.

Suhail Nathani, a regulatory expert at Economic Laws Practice, discusses India's new labour codes, emphasizing their role in reducing litigation risk and clarifying worker rights. Paul Jeruchimowitz from Accenture dives into the growth of Global Capability Centres, explaining innovative incubation models that allow for rapid setup and the importance of a strong employee value proposition to attract talent. The conversation touches on the significant shifts in market volatility, the rupee's decline, and the challenges faced by U.S. oil producers amidst fluctuating prices.

In this engaging discussion, Sajjid Chinoy, Managing Director and Chief India Economist at JPMorgan, shares insights on India's booming service sector. He explains how high-value service exports are reshaping India's economic landscape, even amidst global challenges. The conversation dives into the role of technology and AI in creating better job opportunities while addressing potential threats to the workforce. Chinoy also discusses the cyclical advantages aiding India's growth and the implications of deglobalization on emerging markets.

Anil Rego, Co-founder of Right Horizons PMS, discusses market cycles and how mid/small caps are gaining traction. He elaborates on the earnings recovery outlook and potential for a significant market breakout. Pawan Bachwal, Ericsson's VP, highlights the company's role in India's fintech and 5G infrastructure. He shares insights on innovative APIs, AI's role in fraud detection, and the impressive growth of India's UPI system, showing how these developments can be replicated globally. Together, they provide a fascinating look into market dynamics and technological advancements.

In this engaging discussion, Pawan Kumar, President of the Seafood Exporters Association of India, reveals how exporters are tackling tariffs and seeking government support amid dynamic market conditions. Soumya Mohanty and Graham Staplehurst from Kantar dive into the intriguing methodology behind brand valuation, highlighting the $523 billion worth of India's top brands. They explore how experience shapes brand loyalty more than advertising, and the shifting landscape in brand categories, including notable new entries. A must-listen for market enthusiasts!

Ashish Nanda, Chief Digital Business Officer at Kotak Securities, shares insights on the rising trend of algorithmic trading. He explains how this technology is removing emotional decision-making from trades, allowing for programmatic order placements. The discussion delves into the current market nervousness, driven by tech earnings, and how generational shifts are influencing retail investor behavior. Ashish also highlights the minimal market penetration of algo trading and forecasts renewed interest from younger investors as market conditions improve.

Anand Kulkarni, Director at CRISIL Ratings, dives into the booming cement industry in India, fueled by rural housing demand and robust infrastructure projects. He discusses a significant capacity expansion of 160–170 million tons, with a notable 9.5% CAGR in recent years. Anand highlights the strong balance sheets of cement companies, ensuring they can finance this expansion without excessive debt. He also forecasts that rural housing will lead cement demand growth, outpacing urban needs in the near future.

Paul Gruenwald, Global Chief Economist at S&P Global Ratings, and Nikhil Narendran, a Partner at Trilegal, delve into pressing economic themes. They explore why foreign portfolio inflows might soon resurge, driven by GDP valuation and investment dynamics. Gruenwald shares insights on how data centers are boosting US GDP growth while masking broader economic weaknesses. Narendran discusses India's new Digital Personal Data Protection Act, detailing compliance challenges for companies and the importance of consumer data rights.