- 20 minutes ago
Indian benchmark indices experienced volatile trade, with the Sensex rising 350 points near 73,500 and the Nifty gaining 100 points around 22,700, driven by a late-session rebound in metal and healthcare stocks. Elevated crude oil prices, geopolitical tensions, and the upcoming US Federal Reserve policy decision influenced trading sentiment. Among major corporate movers, Infosys pared early losses following guidance revisions, BPCL gained on quarterly earnings, and Dr. Reddy's Laboratories targeted mid-November for generic semaglutide supply resumption. Ather Energy reported a second-quarter net profit of 1.26 crore rupees alongside positive EBITDA. Tata Communications announced plans to invest 400 to 450 million dollars in a 10,000-kilometre AI-ready fibre network linking Indian data centre hubs, prompting market analysts to review capital expenditure returns. Market experts also analyzed sectors including pharmaceuticals, private banks, renewables, and infrastructure companies like L&T and NCC, while addressing retail SIP inflows and policy risks in Samvat equity outlooks.
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NewsTranscript
00:09good afternoon viewers you're watching the business today show with me sakshi
00:12batra this is where i get you all the stock market closing action on the lal
00:15street first up let's take a look at what's hot in the corporate and the
00:18financial world
00:22market swing between gains and losses as elevated crude oil prices fuel
00:25inflation concerns right ahead of the u.s federal reserve decision on the
00:29policy rates sensex is up 350 points to trade near 73 500 while the nifty has
00:35gained 100 points in trade to beat around 22 700 mark metals farmer stocks
00:40emerge as key gainers providing support to the market
00:48inquisitive shares fall after q2 earnings miss an f527 guidance cut before pairing
00:53losses to one percent brokerages remain divided ubsc is a 23 percent stock
00:58upside while hsbc flags margin pressure and growth concerns
01:06bpcl shares zoom after q2 results as the state-run oil
01:10major posts better than expected profit of 5000 crores lpg under recoveries ease to
01:15290 rupees per cylinder in q2 from 507 rupees in the previous quarter
01:24as we are chairman cf shetty expects a 50 basis points repo rate hike in december which could
01:28moderate discretionary borrowing he remains confident on credit growth and retail asset
01:33quality but flags deposit mobilization challenges as savings shift to alternative investments
01:42hundi launches the bayon suv at an introductory price of 9.99 lakh rupees positioned below the creta
01:50it features india's first gen ai based voice assistant in the hundi model a cng variant is due in 2027
02:06we'll straight away looking at welcoming our guest on board we have samir the lal president
02:10and natural lal and sun stock brokers joining in on the program with us uh welcome to you samir good
02:14to have you with us 22 700 is back with us um what a wild uh you know swing we
02:19saw in the trade today
02:20um give us an understanding of how are you reading down as far as the signals are concerned in the
02:26markets uh crude oil above 123 dollars a barrel um how big a risk is that to the recovery that
02:32we
02:32had been seeing sometime i'm so sorry i couldn't get that properly your voice was breaking in the
02:38middle but good afternoon to everybody samir your outlook on the markets yeah so you know you continue
02:44to remain a little cautious uh we hope that things stabilize you know we've been saying for a while till
02:50crude prices settle till the middle east issue resolves itself i think the markets are not heading
02:55anywhere major up you're going to see a sideways gradual movement and it's simply put look we
03:02have uh by third of uh uh november we'll know what's happening in the midterms uh and if donald trump
03:09does not get uh the house and the senate uh he'll probably want to make a big you and a
03:14cry and you
03:15know for all you know he may start attacking iran all over again and that could lead to worse of
03:20problems than we already in so you have to be a little cautious at this point there's no
03:25uh stability to anything that i mean today you know when we invest in markets we like to see
03:31that this kind of growth is possible given these factors the problem is we don't know what those
03:36factors are anymore we don't know where anything is going to so as a fundamental analyst or a
03:40fundamental investor what basis do you make your projections and predictions and estimates on right
03:46so that is the bigger problem in the market until that resolves itself i think being cautiously
03:52optimistic is probably the only thing that we can say we are optimistic because hopefully the india
03:57story is still attractive but you have to be cautious given the geopolitical issues that exist
04:03absolutely so at this point in time samir are there any pockets you are comfortable with
04:08or are you still uh you know very very um cautious about anything that could actually rally may not
04:15sustain um you know looking at what's happening today again we're looking at mid and small caps
04:20inch towards the days high after last couple of days of a dip that we actually saw yet again there
04:25are
04:25questions again coming back whether the broader markets valuations are again turning expensive so
04:30what do you choose at this point in time again your voice for some reason i'm not able to you
04:36know
04:36it starts off well but doesn't but i i got a bit of the beginning so are there any sectors
04:40that we like
04:41so yes there are always pockets in the market that throw out value that that continue to have a lot
04:46of growth opportunity right so the biggest problem that india has faced right now has been the crude and
04:52the energy sector so how does india reduce its dependence on energy sector from international markets
04:59and the obvious answer is that we increase electrification grids we increase renewable energy
05:05sources and we drill more in our various basins and look for more crude and oil right to become
05:10self-dependent but the easier one is to move more towards electrification because that can become a
05:16direct replacement of importing crude electric cars electric ovens electric stoves i mean name it right
05:23so and solar energy wind energy the cost of getting those has become so reasonable that it it becomes kind
05:31of a no-brainer to push for that so we believe that given the next five years you're going to
05:36see a lot
05:37of investments coming in there those are sectors you can look at not only from the generation side from
05:42the renewable side but also from the transmission distribution um you know the manufacturers of
05:49transformers the manufacturers of wires electric wires the manufacturer i mean you know the companies
05:56that do the epc for setting up the entire distribution network the electrification system
06:01all of those throw up a great opportunity infra continues to be something that is good because
06:07look india still is very very underdeveloped when it comes to all your infras whether it be roads bridges
06:13ports airports railway stations i mean the opportunity is absolutely immense the problem we have is
06:20cash has to be there you need money you need capital and capital is where the problem lies right
06:25so if the government keeps uh spending money on this sector the epc side and these companies doing
06:32these projects will do well so um you know that is something that one can look at so then you
06:38can
06:38look at something in the ancillary space something like a cement right so real estate is very underdeveloped
06:44infra plus real estate hopefully will do well yes infra real estate will take a backseat right now
06:49because of interest rate hike cycle but eventually india needs a lot of housing so we believe the
06:55housing space will pick up and the cement sector will start doing well so their stocks come off
07:00quite a bit where valuations are looking slightly better so that is another space and then if you
07:04want all of what i just discussed to happen you need a mad amount of capital and that comes from
07:09your
07:09banks so the best place to invest and not take a play on any sector if you don't want but
07:15to just say
07:15that look out of the five sectors that are good they need funding which will be the easiest way to
07:21play
07:21is to play the banks because if the bank if they need loans the banks do well and banking results
07:27have been good it's just that the stocks have not performed so at some point the performance will
07:32come back and that is the easiest way to play the overall market i think okay so banks it is
07:38do you
07:39also have a preference between private and psu banks at the moment so in general we always prefer
07:45private banks and right now i'm a little more skewed towards private banks i'll tell you why not because
07:50the psus are run badly or anything but for the simple reason that we have had an el nino in
07:55the
07:55current year right which means the farm sector is going to get a little bit of pain and if farm
08:01credit deteriorates psus have a much larger or much bigger exposure to the psu the farmer side
08:09and that could impact the nps meaning leading to higher provisions plus government will come down and
08:15say look make me you know at the end of the day elections you have up elections coming government
08:19will come and say move of all loans in up so then psus have no choice but to do all
08:24of these things
08:24so private sector may not have that they have some collateral against those farm loans also
08:30so the safety angle is better there uh plus if you ask me banks we are in the interest rate
08:37hiking cycle right so banks tend to do well in this cycle because their nims eventually go up
08:42you look at last quarter everyone's reported lower nims because of the fc but let's ignore the fc
08:47and beyond that they've done really well right so from that perspective in uh you have to look at it
08:52and the way i look at it is look at banks which are either turnarounds like indescent which i think
08:57have immense value in them from two-year perspective hdfc also turning around from the fact that from
09:04the negative sentiment not the bank business turning around but the sentiment turning around
09:08because everyone will become too negative on it and i think eventually people will realize that
09:12it's not having these problems and you know it should trade at a premium value so the i think
09:17the stock will re-rate up catch up to icici i was actually trading at a discount to icici bank
09:22and
09:23then you got to pick your smaller banks which are the growth banks something like an idfc first bank
09:27which is able to go its loan book by 25 plus percent federal bank which is growing very aggressively
09:34icici and access you can be an investor but you get market returns and nothing more because there's
09:39nothing left in it from the valuation re-rating or aggressive growth that they could do
09:44okay let's also shift focus to the pharma space that's also doing well several stocks that are reacting
09:49i just saw mankind pharma's results a strong move that we are seeing on the stock about four percent
09:55higher as well post the earnings and look at dr reddy's that's the top of the chart stock on the
10:00nifty
10:00today it's up by 6.8 percent in fact dr reddy's laboratories remember has reported a 36 percent
10:07year-on-year decline in its q2 net profit with lower sales in north america weighing on the revenue
10:12but the company says its base business remains resilient with india delivering strong growth
10:17and a bit of margins holding at 20 percent the company is also looking to strengthen its growth
10:21pipeline with generic semaglutide even as api related issues disrupt the supplies the company
10:27expects supplies to resume by mid-november and sees an opportunity to sell 67 million pens in the
10:33third and the fourth quarters as my colleague nitu chandra sharma spoke with mb ramana the ceo of
10:38global generics dr reddy's laboratories to discuss the earnings performance in the outlook let's
10:43listen in to that conversation the u.s generics market remains a highly competitive market so with
10:50the persistent pricing pressure it's always there so how do you you know plan to make this business
10:56more resilient and profitable going forward sure so if you see in terms of the market how it has
11:04behaved in quarter two the price erosion has been pretty decent single digit and when it comes to
11:12what is important in in in growth as far as u.s is concerned are ensuring that we are able
11:20to have
11:21more new products first time to the market um and we have launched for example in the second quarter
11:28sugama decks where we have been the first to market we've had some exclusivities on some of the oncology
11:35products so new products is extremely important second is how are we doing the volume growth and third
11:41how are we working in terms of the costs so that we're able to manage the pricing pressures that is
11:47there so that's the way to look it to the u.s and of course we're adding now two additional
11:54levers one
11:55is a biosimilars and we are we have got approval of rituximab in the u.s this is a partnered
12:03product
12:03with fresenius we are looking forward to see how the results come through for abatacept so that we will
12:12have the opportunity to launch that product and then the consumer health which is what we also see
12:20would be a good lever of growth for us so overall i think we do see that u.s business
12:27is doing well
12:28and continues to grow in double digit so you have secured generic semaglutide approvals you know in
12:3410 countries but an api related quality issue has you know disrupted supplies so i understand from you
12:41that when will the supply is going to normalize and how much of that opportunity you know can you
12:47realistically capture in you know competitive market which is increasing you know day by day
12:52there is the competition is rising every day so what's your viewpoint on that sure so we did encounter
12:59some issues from a point of scale up of the api now we are behind it we have been able
13:03to
13:04successfully scale up the api now in the in the validations of the formulation if this milestone
13:12is successful we should be able to get back in the middle of november with the product as of now
13:19we
13:20have 10 approvals in various countries other than canada and india in latam and in africa and very
13:27recently one of those approvals was in chile where we have been uh the first generic uh semaglutide and
13:34we expect to launch in that market so in that sense today if i look into quarter three and quarter
13:40four
13:40uh we still feel that we have the opportunity to sell six to seven million pence and as we get
13:47into
13:4728 and 29 we expect more emerging markets to get approvals and many of them are branded markets we do
13:54expect
13:55to build the brand and continue to grow this product let's shift focus to another breaking
14:02news coming in this is with regards to tata communications tata communications is planning
14:06a big ai connectivity push tata communications will be investing over 400 to 450 million dollars
14:12in ai and the company will be building india's ai highway also tata communications plans a 4 350
14:19cross ai network the capex as far as being announced also tata communications will be
14:25building 10 000 kilometers of new fiber at this point in time as well is what we are given to
14:30understand this is the new long haul fiber cables across india the project will connect cloud
14:35services firms global capability centers and many other organizations such as banks to data center
14:41clusters as well and the expansion will be done in three phases mumbai pune hyderabad chennai
14:46corridor the east coast and the west coast india data center ecosystems then including
14:51vizag bhuvaneshwar jamnagar and the gift city as well is what we are given to understand when tata
14:57communications big ai capex is planned as far as tata communications is concerned about 450 million
15:04dollars in ai expansion is being now planned as far as the high-speed network cables connecting
15:10india's ai data center corridors is concerned is being planned by tata communications big news actually
15:15coming in let's actually take a word from samir right here uh samir how are you looking at uh you
15:21know such news developments coming around ai more and more companies um you know understanding that
15:26despite having been behind the curve so far now is the time to take the grip of the action and
15:31start
15:32pumping in good money uh start building up capex because of the kind of demand we are already over
15:38so foreseeing for the next five ten years that will come in from ai and data centers and do you
15:42think
15:42such big steps will also be seen positively by institutional and foreign investors at large in
15:48india yeah so you know i'm not very enthused by when companies say we are investing in ai in a
15:54great
15:55way we are putting these highways and these data centers because at the end of the day we do not
16:00know
16:01what the remunerative revenue is going to be for these indian companies um over a period of time
16:08and usually when you're putting in this kind of capex right in the initial days you're never able
16:14to run at full capacity so what happens is you actually uh hurt your profitability right in the
16:21first two three years though you'll just be putting in capex and hurting your balance sheet raising debt
16:25uh you capitalize your interest you capitalize a lot of all those depreciation so you know numbers will look
16:31okay but when the actual product finally starts running then what starts happening is your
16:37depreciation your actual costs are significantly higher you're not able to generate the higher
16:41revenue and profits fall and we've seen this across many industries like steel cement whenever
16:46huge capexes are put in it's always difficult for the stocks to do well because the roes rocs get hit
16:53so for me it's good that you put in some of this but it needs to be more calibrated
16:58too you got to know what kind of return you're going to be able to make on it today when
17:02someone says
17:02like data communication says i'm going to be put in all these uh transmission lines how are you going
17:07to earn the revenue what are you going to charge who's going to be paying you uh what is going
17:11to
17:11be the return on that investment you're i don't have any of that data to invest blindly just because
17:18you're saying ai i mean you know ai is the new hype word but just because you're saying you're doing
17:23it doesn't mean that it's going to be remunerated for me as a shareholder for the next three to four
17:27years so be very cautious i feel when you when someone says we're getting into ai have you seen
17:33this again in the past you know when the dot-com bubble was in 2000 everyone said we are in
17:37a dot-com
17:38company and the stocks would multiply if you go back uh you see it companies they all ran up they
17:44really didn't have too much it work and then when the crash happened you saw most of them got wiped
17:49out
17:49you want to make a play in this it's too late to make it and i have also missed it
17:52to be very honest
17:53was the wiring companies that were doing these fiber optic cables your sterlight tech and uh
17:58hfcl they've great proxy plays they've run up like a lot valuations are absurd so from that
18:06perspective i would be a little cautious there but that becomes an easy way to play it because
18:10whatever happens you set up the data center you set up the highway this guy is going to be able
18:14to
18:14sell his buyer absolutely let's actually focus a little bit on the numbers that are coming in the
18:22earnings uh focus as well we're just getting um you know just uh about some time ago ather energy
18:28q2 earnings came in and the stock has reacted sharply on the top uh level the company has reported a
18:33net
18:33profit of just about 1.26 crores but this is with regards to a net loss that the company had
18:38posted of
18:39154 crores in the same period last year look at the sharp surge about 13 14 percent higher on ather
18:45energy
18:46the ebitda during the quarter also was positive 11.3 crores vis-a-vis an ebitda loss of 133 crores
18:52in the base quarter as well and the stock has already been an outperformer if we look at since
18:58the time it got listed and over the last three months or so we'll look how the company is really
19:04shot up in trade um ather energy any views here samir yeah so you know we think the electric vehicle
19:12space and if you remember the initial conversation we had we thought that the electrification space
19:17is something that is going to do really well and has a lot of opportunity for growth problem in ather
19:22is that all of that has been captured and more you know the stock has run up from its ipo
19:28i think of
19:29330 or to about 1500 1600 in a year and a half's time so a lot of the growth that
19:36should come for
19:38this industry is factored in this company is barely making any money at this point of time
19:43no doubt it's an auto sector so operating leverage are very strong for every additional bike you sell
19:47there's a huge amount of operating leverage and a profitability that comes through
19:51so we think that will happen but if i pay today's valuation for today's profit when am i two years
20:00later
20:00going to say that the valuations look fair and i should be able to make money
20:03so earnings are good uh business is good valuations are unjust i would not but i'm going to stick my
20:10neck out and say something as strong as this that i wouldn't buy it under until it reaches 1100 rupees
20:17or lower right in fact uh samir we also have some questions coming in from all our viewers as well
20:25so
20:25we'll quickly take some of those questions too with you uh this one is from sachin patel from mumbai who
20:30says is it worth investing in pharma stocks for the long term now makes sense to invest in pharma
20:37companies they're not too expensive we still believe the us opportunity is very very large indian
20:42companies will replace some of the branded drugs make them more generic and then you have companies
20:48like sun pharma who are creating branded generics i mean the you know brands for something that is
20:54generic and being able to sell so i think if you look at it the opportunity is still raj sun
21:00pharma
21:00remains a top pick torrent pharma we like valuations a little expensive so wait for small corrections to
21:05buy uh but yes doctor ready also looking attractive results were not good but that's a one-off i don't
21:11think it's going to matter too much i think growth is still very strong so pharma is a space you
21:15can
21:15definitely invest in okay archana the way from noida wants to know what is your outlook on metal stocks
21:21for the next three to six months so you know i generally shy away from giving very short term
21:30calls of three to six months i prefer to have a longer term horizon of investment uh having said that
21:37what i can say is look the short term for metals is still okay prices are still holding up uh
21:43which
21:43means companies are going to be reporting good profitability the problem remains that if everything
21:48starts easing up and you know the trade starts easing out from shipping and all once this ends
21:53i think commodity prices will come off and always you should buy commodities when the cycle is bad
22:00not good and because you know when it's good it's very difficult for relating upside and very difficult
22:06for it to keep growing endlessly so for me i would be avoiding metals at this point of time but
22:11for
22:11three to six months it could run up um but i would advise selling out a cyclical business when
22:18valuations look cheap and the store and the stocks and commodities have already performed which is
22:23right now okay sartak shrivastra from laknow asks you since you were talking about infra space
22:30are construction related stocks good investments for the next one year yes please go ahead uh you know
22:35stocks have corrected quite a bit so i'll tell you lnt becomes one of the greatest proxy
22:40players for india infra uh whether government whether it's private sector whether it's
22:45renewable energies whether it's hydrocarbons name it they are part of it real estate so yeah lnt
22:52should definitely be one of the stocks you know other stocks that have corrected a lot one is that
22:56we like is ncc nagarjuna constructions um they're doing uh very well great order book uh execution will
23:04pick up cash flows will start improving that is something then if you want you can look at something
23:09that does real estate development along with construction so there's a man in for a small
23:13bombay based company not only they do real estate development but they also do construction activity
23:18for themselves and for other players so that can become something you can look at which and they
23:22also do a lot of port activities so they develop ports port infrastructure so you know that can become
23:28a play for infra that you can look at these are some that we recommend but yes we think overall
23:32this
23:32space is something one should do better all right okay samir we'll thank you on that note for sharing
23:37all these wonderful insights for all our viewers as well and uh we'll quickly look at how the markets
23:42are shutting shop today so a smart reversal on the nifty look at the day's high move 0.7 percent
23:48up of course some cash impact also underweight 22,753 most of the sectors that were all trending in the
23:55red
23:55for the large part of the session have all turned green you only have you in fact have all the
24:00sectors
24:00that have moved up metals are up 2.2 percent sharp reversal there pharma by 1.8 percent a very
24:07big
24:07move and largely led by the large cap names like dr reddy's and so on and so forth you saw
24:11the
24:11broader markets turn positive smartly so it stocks banking names autos all of the sectors moved up
24:18let's also look at the stocks on the nifty dr reddy's 6.8 percent higher top of the charts jsw
24:23steel again earnings impact 4.8 percent higher bsc buzzing stock there 1.4.3 percent up max
24:29health care dani pots eternal kotak mahindra bank all of these stocks moved up but sriram finance
24:34post earnings declined 4.8 percent lower a lot of brokerage houses giving negative comments uh data
24:40consumer products bijaj finance htfc bank htfc life nestle these are all the stocks that in fact
24:45declined in the session but uh as part of our upcoming diwali special market coverage on the
24:52upcoming summer 2083 we bring you insights from top market experts on investments and how the new year
24:57will be my colleague shell batnagar spoke to manish sonthalia director and cio mk investments on the
25:03outlook there is a considerable view in the market which is gaining strength i do not know right or
25:11wrong i will use your judgment because you have a better practical knowledge on this one that it is
25:18these sips that are the root cause of all evil that is there in the market which is if i
25:26is wanted to
25:27sell we are giving an easy exit and we are helping them go at a time when probably because of
25:34gdp growth
25:35because of earnings growth they should have invested in the market are the real cause of pain in the market
25:41these sips what is your thought no i don't think so on the contrary i believe that the retail public
25:49is very smart and they have become much more financially literate than what they were 10 years ago
25:5710 years ago or let's say 2016-17 or 2015-16 if these sort of fii outflows would have happened
26:08the indian markets would have broadly crumbled because the given belief was that fias are the
26:15price setters and indians domestic institutions and indian retail is basically a price taker today
26:23the indian public have come out on its own assessing the fundamentals of the economy and basically taking
26:31a call on valuations at any given point in time they are basically not guided by the fact that
26:38the so-called strong hands are the sellers so we should also stay away now whether this is basically
26:44giving a right right or wrong exit to the strong hands only time will tell but what i have fully
26:51understood in this journey of the last 30 years that i have been in the indian markets that the indian
26:57investing public have become far more financially literate they understand fundamentals far better
27:04of course uh you know they get unnerved by relentless uh negative tick on indian markets and
27:14right we also have had ajay sri vasta the md of dimensions corporate financial services flagging a
27:21different concern the unpredictable government policy changes he believes policy uncertainty is a risk
27:27that investors cannot easily hedge and when it comes to taxes his view is equally clear investors
27:32need to make profits first before worrying about paying tax let's listen in which are the biggest
27:39risks that we carry with us as we enter summer 2083 is it uh you know the ai disruption again
27:46is it
27:47the rupee fall uh is it the sharp surge in crude oil prices um or is it the fire flows
27:54what would you
27:54point out as the biggest risk we carry with us in the new summer the not even not the four
28:00the fifth
28:01one is frequent change in government policies because the rest of the risk i can accommodate i can learn i
28:09can hedge this is policy change is one risk i don't know about where it is coming from which segment
28:15what's going to happen i can't hedge it i can hedge oil i can hedge ai exposures i can hedge
28:20everything that
28:21you just said just i can hedge my interest rate exposures i can sell my call options if i see
28:27the
28:27market having a little bit of problem i can hedge my equity exposure what i can't hedge is a change
28:32in
28:32government policies and you've seen what's happened across the board if the policy on fno changes the
28:37brokerages take a knock if the policy in hospital changes the hospital take a knock the policy of sugar
28:42changes ethanol sugar companies now if a new policy comes to effect to me i can't hedge it i don't
28:49know it
28:49and it catches me unaware i think so therefore you know contrary to what we can hedge we can account
28:55for all other variables economic variables but what we can't account is the unpredictable policy
29:01change which comes and just announcement comes in the morning papers and then we don't know what to
29:05do with it so that's why i started by saying that i'm requesting and everybody and hoping the goddess
29:10lakshmi listens to us to say please no more changes let us just do what we are doing in this
29:15year
29:15we can account for the other risks this is one which is catching all of us unawares so stability
29:21of policy to me is the biggest risk among all of the four risks that you mentioned not oil not
29:26interest rate everything can be hedged and just remember let's be honest why are you only worried
29:31about people who buy shares if interest rates are going to go up people who sell shares people who
29:36short shares they also are right to make money in the world right absolutely uh let's also you know
29:43on this point i just wanted to ask you you know a lot of us were actually hoping after the
29:49recent
29:49comments came in from the finance ministry that at least they will pay heed to uh you know the tax
29:54cuts
29:54that the markets have been long awaiting since you say no policy change would you also say not needed
29:59at this point in time to tinker with ltcg or stt you know a lot of people you started by
30:05saying a lot of
30:06people are wondering where is the profit to pay tax on so i think the whole amount of people will
30:11say
30:11at least let's get to profit first before we pay tax i don't have a problem paying tax to be
30:16honest
30:16i don't have a problem paying tax and 20 and a half percent long term i don't have any issues
30:20if you use
30:20the money well not buy 30 000 rupee a liter of finel i think i have a problem with that
30:25but by and large i
30:26don't have an issue paying tax i think first we need to make profit to pay tax how many of
30:31indian
30:31investors today are actually making profits to pay tax think about it so tax to me is an issue of
30:37institutions and larger institutions they should be worried about whether tax will go down the
30:41returns will go up for a normal indian public i don't think so they worry about the two and a
30:46half
30:46percent long term i don't think that's an issue on the table issue the table is first we need to
30:50make
30:50profits that's the point all right viewers we'll wrap it up on that note on the business today show
30:56right here much more coming up on the other side stay tuned