- 49 minutes ago
Reports indicate that the Securities and Exchange Board of India has recommended scrapping the 12.5% long-term capital gains tax for foreign investors to encourage equity inflows and counter recent capital outflows. SEBI has also proposed tax relief for domestic mutual fund investors switching schemes after holding units for over a year. Meanwhile, Indian equity benchmarks witnessed a sharp rally, led by Reliance Industries surging over 9% and adding more than 1.2 lakh crore rupees to its market capitalization following strong quarterly earnings. Automobile manufacturers, including Maruti Suzuki and Hyundai, recorded robust October monthly sales, boosting sectoral stocks ahead of Dhanteras and Diwali. In commodities, gold and silver saw price corrections amid shifting demand. Separately, the Central Drugs Standard Control Organisation canceled the import registration for South Korean cosmetic brand FatX over misleading therapeutic claims, intensifying scrutiny across imported beauty products.
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NewsTranscript
00:07good afternoon viewers you're watching the business today's show with me Sakshi Batra
00:11this is where I get you all the closing action on the lal street first up let's take a look
00:15at
00:15what's hot in the corporate and the financial world big update for markets reports indicate
00:23SEBI has now recommended scrapping the 12.5% LTCG tax on foreign investors to boost equity
00:31inflows the regulator has also proposed tax relief for domestic mutual fund investors switching
00:36schemes strong earnings growth could fuel the next big market rally with markets offering 40 to 50
00:46percent upside potential over next two to three years says market veteran Ramdeo Agarwal in an
00:52exclusive conversation with business today he believes AI is a long-term growth story and
00:57opportunity not a bubble Reliance Industries fuels a sharp market rally with the sensex surging 900
01:06points and the nifty jumping 250 points strong Q2 earnings drive Reliance Industries shares higher
01:13adding over 1.2 lakh crores to its market cap
01:19auto stocks are buzzing in trade after a strong October sales performance with Maruti Suzuki and
01:25Hyundai reporting highest ever monthly sales Maruti Suzuki Tata Motors passenger vehicles Hyundai and
01:31Ashok Leland shares surge up to 4% as festive demand drives growth
01:39big festive cheer for gold and silver buyers ahead of Dhanteras and Diwali gold prices have now fallen
01:4411,000 rupees while silver has plunged 44,000 rupees in October in Delhi the 24 carat gold now trades
01:51at
01:511.39 lakh rupees per 10 grams silver at 1.82 lakh rupees a kilo
02:02we're tracking one of the biggest stories today it's one of the shortest signs of a possible tax relief for
02:08equity investors in the coming days a report by Reuters claims that sebi has now recommended scrapping long-term capital
02:15gains tax for foreign investors the move is aimed at reviving foreign investment in Indian equities the report also says
02:21capital market regulator has also proposed tax relief for domestic mutual fund investors switching between schemes after holding their
02:29investment for over a year the recommendations come right amid record foreign investors outflows of 31 billion
02:37dollars this year and weak market returns sebi has also said transaction costs associated with investing in in equities in
02:44India are among the highest in the world and there is currently no world on no word on whether a
02:50decision will be taken before the union budget next year or in it business today television has the first reaction
02:58from market
02:59it grew and one of the country's biggest investors Ramadio Agarwal on the same
03:06it's a positive news
03:07it's a positive news
03:08we have a demand
03:10that you have
03:12capital gains tax
03:13for foreign investors that should be rationalized
03:15and actually if it can be removed
03:17in competition with other countries
03:18which is what is
03:19what is the right thing to do
03:21in the sense that
03:21you are competing with
03:22Indonesia
03:23Singapore
03:25Korea
03:25Taiwan
03:26China
03:26and they don't have concept of capital gains tax
03:29they don't have concept
03:30so that you are removing
03:32so you are becoming more global
03:34more competitive
03:36but finally we have to see
03:38what is the overall proposal
03:39because this is at least semi
03:41the notification has to come from
03:44finance department
03:45finance ministry
03:46so might be they have backed it
03:48and it might form part of the budget
03:49you know
03:50because budget is just about
03:51two months
03:51three months away
03:52so
03:53so I
03:54I think
03:55it's moving on the right direction
03:57and
03:58I hope
03:58it finally
04:00sees the light of the day
04:01because this LTCG
04:02has become
04:03big
04:04big demand
04:05from their side
04:07let's also now
04:08welcome our guest on board
04:09we have Sudeep Bandiobadhyay
04:11our market expert
04:11joining in as well
04:12Sudeep sir
04:13warm welcome
04:13good afternoon
04:14good to have you with us
04:15well
04:15welcoming you
04:17on a day
04:17where we are seeing
04:18remarkable gains
04:20on the markets
04:20after a long haul
04:21across the board
04:23we are looking at
04:23of course
04:24these reports
04:25indicating
04:25that
04:26SEBI is now
04:27backing
04:28and proposing
04:29that LTCG be
04:30scrapped for foreign
04:31investors
04:32do you think
04:33this is news
04:34that investors
04:35and markets
04:36will celebrate
04:37and this can't
04:38definitely lift us
04:39out of that
04:40long haul period
04:41of consolidation
04:42correction
04:43time wise move
04:44on the downside
04:46this is definitely
04:47a very important
04:48step
04:49and it's a very
04:49good step
04:50look you have to
04:51level the playing
04:52field as far as
04:53foreign investors
04:54are concerned
04:55they have the option
04:56of investing
04:57anywhere else
04:58in the world
04:58and India was
04:59the highest cost
05:00market
05:01in terms of
05:03the incidence cost
05:04which includes
05:05STT
05:06long term capital
05:07gains tax
05:07etc etc
05:08as well as
05:09administration
05:10of you know
05:11the tax assessments
05:12and things like that
05:13so removing
05:14LTCG
05:15will definitely
05:16remove
05:17one major
05:18you know
05:19administrative
05:19as well as
05:20financial challenge
05:22from a FII
05:23point of view
05:24so it's a very
05:25welcome step
05:26of course
05:27you know
05:28I'm very clear
05:29this doesn't mean
05:29FIIs will rush
05:30to invest in India
05:32it has to
05:33a lot of other
05:34things have to
05:34fall in place
05:35before they rush in
05:36but this was
05:38definitely necessary
05:39and there are
05:40most of the other
05:41things which are
05:42required
05:42cannot be controlled
05:43by us
05:44that is
05:45the market
05:46participants
05:47or government
05:47of India
05:48or our
05:49authorities
05:49what they
05:50could control
05:51was the tax
05:52issue
05:53which I hope
05:54they will control
05:55and they will
05:56bring it to the
05:57level playing field
05:57and that's a very
05:59welcome step
05:59absolutely
06:00let's also talk
06:02about the stellar
06:03move on the
06:03markets
06:04especially led
06:04by the oil
06:06and gas sector
06:06the sector is
06:07up by 5%
06:08of course
06:08led by Reliance
06:09Industries
06:09now 9.5%
06:12higher at
06:1212.7
06:151274 levels
06:16on Reliance
06:17Industries
06:17at this point
06:18in time
06:19so a smart
06:20move
06:20days high
06:21move
06:21on Reliance
06:22Industries
06:22last couple of
06:23minutes
06:23have further
06:24seen a push
06:25here
06:25after those
06:26Q2 numbers
06:27Sudeep sir
06:28first up
06:29your reaction
06:29to the numbers
06:30and you know
06:31we've seen
06:32so many
06:33numbers
06:34of Reliance
06:35Industries
06:35with you
06:35never have
06:36we seen
06:36such a smart
06:37move
06:38on Reliance
06:39Industries
06:39this is one
06:40of the
06:40best
06:41one day
06:41moves
06:42that we've
06:42seen
06:42in the
06:43last
06:4367
06:43years
06:44for Reliance
06:45it's already
06:45added 1.2
06:46lakh crores
06:47in the market
06:47cap
06:48well over
06:4817 lakh
06:49crores
06:50now
06:50what do you
06:51think
06:52is the reason
06:52behind this
06:53stellar move
06:54and how would
06:54you approach
06:55Reliance
06:55post this
06:56move
06:56well Reliance
06:58definitely
06:59was grossly
07:00undervalued
07:00and I think
07:01I mentioned
07:01this even
07:02earlier in
07:03your program
07:03and pretty
07:04much everywhere
07:05I still
07:07believe that
07:07Reliance
07:08is undervalued
07:09and it has
07:10hoped for
07:10further
07:10moving up
07:12as far as
07:13short term
07:13is concerned
07:14I see
07:15it settling
07:16between
07:161350 to
07:171400
07:18and I
07:19won't be
07:20surprised
07:20if the
07:21long term
07:21momentum
07:22for Reliance
07:22to move
07:23upwards
07:23towards
07:242000
07:25continues
07:25look
07:26all the
07:27businesses
07:27have been
07:28doing
07:28pretty
07:28well
07:29O2C
07:30was not
07:31functioning
07:31and this
07:32quarter
07:33O2C
07:33came back
07:34with a
07:34brilliant
07:35set of
07:35numbers
07:35much
07:36much
07:36better
07:37than
07:37what
07:37anybody
07:38expected
07:38and that
07:40I think
07:42propelled
07:42the stock
07:43and added
07:45towards
07:46this
07:46valuation
07:47catch up
07:47Geo
07:48platforms
07:48of course
07:49fantastic
07:50performance
07:51and kind
07:51of
07:51unexpected
07:52lines
07:52though
07:53they did
07:54meet the
07:54R2
07:55expectations
07:56and growth
07:56expectations
07:57Reliance
07:58retail
07:58of course
07:59this quarter
08:00was supposed
08:00to be
08:00subdued
08:01in terms
08:01of margin
08:02but the
08:03top line
08:03had gone
08:03up and
08:04we will
08:05expect
08:05better
08:05results
08:06in the
08:06coming
08:07quarters
08:07with the
08:07festive
08:08season
08:08coming
08:08in
08:09other
08:10sundry
08:11businesses
08:12also have
08:12contributed
08:13so overall
08:14fantastic
08:15set of
08:15numbers
08:16and
08:16definitely
08:17sum of
08:17parts
08:18is
08:18significantly
08:18higher
08:19so even
08:20if you
08:20factor in
08:20a holding
08:21company
08:21discount
08:22I think
08:22Reliance
08:23deserves a
08:23much better
08:24valuation
08:25but staying
08:26with the
08:27oil picture
08:27a big
08:28red flag
08:28from one
08:29of the
08:29world's
08:29biggest
08:30oil
08:30producers
08:30Abu Dhabi
08:31state-owned
08:32oil company
08:32Adnok
08:33has warned
08:33the world
08:34that the
08:35world has
08:35eroded
08:35its supply
08:36buffers
08:37draining
08:37nearly
08:381 billion
08:38oil barrels
08:39from global
08:40inventories
08:41since the
08:41Iran war
08:42disrupted
08:42shipping
08:42through the
08:43Strait of
08:43Hormuz
08:44the company
08:44was also
08:45warned about
08:46global
08:46diesel
08:46and LNG
08:47supplies
08:48let's
08:48listen in
08:51since the
08:52Strait of
08:52Hormuz
08:53was disrupted
08:54nearly 1
08:55billion
08:56barrels
08:56have been
08:57drained
08:58from global
08:59inventories
09:00in some
09:01markets
09:02stocks
09:03of diesel
09:04are at
09:04their lowest
09:05seasonal
09:06level
09:06in 35
09:07years
09:08and others
09:09are facing
09:11a 600
09:12billion
09:13cubic feet
09:14LNG
09:14supply gap
09:15simply put
09:17in short
09:18the world
09:19has eroded
09:20its supply
09:22buffers
09:22before the
09:23disruption
09:24shipping
09:25and logistics
09:26were less than
09:275%
09:28of the cost
09:29of a barrel
09:29today
09:31they are
09:32more than
09:3330%
09:35in short
09:36energy security
09:38is not
09:39only measured
09:40at the
09:41point of
09:42production
09:42it is
09:44now
09:44also
09:45measured
09:46at the
09:47point
09:47of
09:48delivery
09:50let me
09:51quickly take
09:51a view
09:52from
09:52Sudeep
09:52on the
09:53entire
09:54oil
09:54scenario
09:55playing out
09:55as well
09:56Sudeep sir
09:57oil has
09:57been one
09:58of the
09:58biggest
09:58worries
09:59for
09:59Indian
09:59markets
10:00and
10:00one of
10:01the
10:01key
10:02reasons
10:02why
10:02we
10:02have
10:03underperformed
10:03even
10:04today
10:04we are
10:05still
10:05seeing
10:06oil
10:06hover
10:06around
10:06$110
10:07a barrel
10:08and there
10:09are now
10:09these
10:10warning
10:10signs
10:10coming
10:11in
10:11from
10:11oil
10:11producers
10:12globally
10:13how
10:13the
10:14buffers
10:14have
10:15now
10:15got
10:16reduced
10:16substantially
10:17because
10:17of the
10:17Iran
10:18war
10:18we are
10:18just
10:19up
10:19for
10:19finding
10:20out
10:20what
10:20happens
10:21in
10:21the
10:21US
10:22midterm
10:22elections
10:22but
10:23even
10:23then
10:25we do
10:26not
10:26know
10:26whether
10:27Trump
10:27loses
10:28or
10:28wins
10:29this
10:29what
10:29will
10:30be
10:30the
10:30aftermath
10:30impact
10:31on
10:31again
10:32the
10:32war
10:32scenario
10:33the
10:33geopolitical
10:33tensions
10:34as well
10:34how
10:35are you
10:35looking at
10:36the oil
10:36prices
10:37going
10:37forward
10:37how
10:38big
10:38a
10:38concern
10:38is it
10:39still
10:39right
10:39now
10:39you can
10:40see
10:40some
10:40softness
10:404.2%
10:41lower
10:42at $108
10:42a barrel
10:43right now
10:43but
10:45there seems
10:45to be
10:46no sign
10:46of reversing
10:47to $60
10:47$70
10:48that we
10:48were seeing
10:49before the
10:49Iran
10:50war
10:51well
10:52you are
10:52absolutely
10:52right
10:53and I
10:53think
10:53one has
10:53to
10:54remember
10:54that
10:54from
10:54an
10:54Indian
10:55market
10:55and
10:55Indian
10:56economy
10:56perspective
10:57this is
10:58the
10:58single
10:58most
10:58important
10:59factor
10:59the oil
11:00prices
11:01if the oil
11:02prices
11:02remain at
11:03this elevated
11:03level
11:04or keeps
11:05going up
11:05even from
11:07current levels
11:07I think
11:08that is
11:08bad news
11:09for India
11:09whereas
11:10if the oil
11:11prices
11:11comes down
11:12I think
11:12that
11:13every dollar
11:14coming down
11:15helps India
11:15in a big way
11:16yes
11:17that $16-$17
11:18would be great
11:19but I don't
11:20think we should
11:21expect
11:21that in the
11:22near future
11:24oil coming
11:25back
11:25around
11:25between
11:26$80 and
11:26$90
11:27should also
11:27be okay
11:28as long
11:29as it
11:29doesn't
11:30show
11:31further
11:31escalation
11:33possibilities
11:34but having
11:35said that
11:36I think
11:36as you
11:37rightly
11:37said
11:37there are
11:38lots of
11:38uncertainties
11:39hovering
11:39in the
11:40horizon
11:41as you
11:42mentioned
11:42the
11:42midterm
11:43election
11:43results
11:44will be
11:44out
11:45by
11:45Wednesday
11:46evening
11:47and
11:48Mr.
11:49Trump
11:49has
11:49already
11:50talked
11:50about
11:50escalating
11:52after the
11:52midterm
11:53elections
11:53on the
11:54other
11:54hand
11:54there are
11:55talks
11:55going
11:55on
11:56which
11:56promises
11:57some
11:57solution
11:58so
11:59this
11:59situation
12:00is
12:00in a
12:01flux
12:01and
12:02it's
12:02extremely
12:02difficult
12:03to
12:03comment
12:04on
12:04the
12:04trajectory
12:04of
12:05oil
12:05in
12:05the
12:06near
12:06future
12:06but
12:07having
12:07said
12:08that
12:08I
12:08will
12:08say
12:09it's
12:09better
12:09to
12:10keep
12:11watching
12:12the
12:12space
12:12and
12:13remember
12:13that
12:14this
12:14is
12:14the
12:15single
12:15most
12:15factor
12:16which
12:16will
12:16have
12:17an
12:17impact
12:17on
12:17Indian
12:18markets
12:18and
12:18Indian
12:19economy
12:19absolutely
12:20shift
12:21focus
12:22to the
12:22pharma
12:23space
12:23right now
12:23drugs
12:24regulator
12:25CDSCO
12:26is now
12:27tightening
12:27screws
12:28on
12:28several
12:29Korean
12:29brands
12:30over
12:30what it
12:30believes
12:31are
12:31misleading
12:31claims
12:31the
12:32latest
12:32in
12:33regulators
12:33crosshairs
12:34is
12:34Phatex
12:35a
12:35South
12:35Korean
12:36cosmetic
12:36brand
12:37for
12:37which
12:37the
12:38import
12:38registration
12:39has
12:39been
12:39cancelled
12:40CDSCO
12:41has
12:41found
12:42that
12:42its
12:42claims
12:42of
12:42dissolving
12:43fat
12:43cells
12:44went
12:44beyond
12:45the
12:45permitted
12:45cosmetic
12:46usage
12:46also
12:47the
12:47ban
12:47involves
12:48Delhi
12:48based
12:48importer
12:49Techno
12:50Mitas
12:50Aesthetics
12:51who was
12:52promoting
12:53the
12:53product
12:53with
12:54the
12:54therapeutic
12:54claims
12:55as well
12:55importantly
12:55Phatex
12:56is not
12:57the
12:57only
12:58Korean
12:58brand
12:58which is
12:59under
12:59scrutiny
13:00for more
13:00on this
13:01we are
13:01joined
13:02by my
13:02colleague
13:02Neetu
13:03Chandra
13:03Sharma
13:03Neetu
13:04first up
13:05the
13:05fat
13:05dissolving
13:06treatments
13:06and
13:07products
13:07that are
13:08being
13:08promoted
13:08to
13:09consumers
13:09as an
13:10easy
13:10way to
13:11lose
13:11stubborn
13:11fat
13:12but how
13:12safe
13:13are these
13:13products
13:14and what
13:14should
13:14consumers
13:15check
13:15before
13:15buying
13:16or
13:16using
13:16them
13:16and what
13:17do
13:17you
13:17make
13:18of
13:18the
13:18regulator
13:19clamping
13:20down
13:20on
13:21such
13:21instances
13:21with
13:22these
13:22companies
13:22and the
13:23claims
13:23that
13:23they
13:23are
13:23making
13:25yes
13:26absolutely
13:26Sakshi
13:27the
13:27Phatex
13:28case
13:28is a
13:28stark
13:29reminder
13:29that
13:30consumers
13:30need to
13:31be
13:31very
13:32careful
13:32about
13:32the
13:32products
13:33promising
13:33results
13:33that
13:34sound
13:34medical
13:35or
13:35therapeutic
13:36so in
13:37this
13:37particular
13:37case
13:37CDSEO
13:38found
13:39that the
13:39product
13:40was
13:40being
13:41promoted
13:41as
13:42something
13:42that
13:42could
13:43dissolve
13:43fat
13:43cells
13:44and reduce
13:44their
13:44size
13:45as you
13:45also
13:45mentioned
13:46now
13:46the
13:46regulator
13:47said
13:47that
13:47these
13:47claims
13:48went
13:49beyond
13:49the
13:49permitted
13:50scope
13:50of a
13:50cosmetic
13:51and
13:51amounted
13:51to
13:51drug
13:52claims
13:52now
13:53a
13:53product
13:53being
13:54registered
13:54as a
13:54cosmetic
13:55does
13:55not
13:55mean
13:56that
13:56every
13:57claim
13:57made
13:58about
13:58it
13:58has
13:58a
13:58regulatory
13:59approval
13:59now
14:00consumers
14:00should
14:01be
14:01particularly
14:01cautious
14:02about
14:02the
14:02products
14:03promising
14:03to
14:04dissolve
14:04fat
14:04deliver
14:04dramatic
14:05body
14:05shaping
14:06results
14:07to offer
14:07treatment
14:08like
14:08benefits
14:09now
14:09they should
14:10also
14:10check
14:11that
14:11the
14:11product
14:11intended
14:12use
14:12labeling
14:13and
14:13regulatory
14:13status
14:14rather
14:14than
14:15relying
14:15on
14:15the
14:15claims
14:16made
14:16it
14:16online
14:16advertisements
14:17on the
14:18social
14:18media
14:19that
14:19many
14:19of the
14:20brands
14:20do
14:21that
14:21Sakshi
14:22so
14:22the
14:23consumers
14:23have to be
14:24very cautious
14:24regarding
14:24these
14:25things
14:25but
14:26with Korean
14:26beauty
14:27products
14:27becoming
14:28increasingly
14:28popular
14:29in India
14:29can consumers
14:30be confident
14:31that these
14:31important
14:32products
14:32are being
14:32properly
14:33checked
14:33before they
14:34reach
14:34the
14:34market
14:36yeah
14:36Sakshi
14:37this is a
14:37very
14:38important
14:38question
14:38it's a
14:39very
14:39important
14:40argument
14:40and
14:42consumers
14:42should be
14:43very cautious
14:43about it
14:44because
14:44the market
14:45is very
14:45it's
14:46growing
14:46rapidly
14:47now if
14:48you look
14:48at the
14:48numbers
14:48India's
14:49Korean
14:49beauty
14:50market
14:50is
14:50estimated
14:51to
14:51increase
14:52from
14:52around
14:52400
14:53million
14:53dollars
14:54in
14:542024
14:54to
14:55around
14:551.5
14:56billion
14:57dollars
14:58by
14:582030
14:58according
14:59to
14:59some
14:59estimates
15:00now
15:00India
15:00also
15:01imported
15:01around
15:0279.1
15:03million
15:04worth
15:05of
15:05beauty
15:05skin
15:06care
15:06products
15:06from
15:06South
15:07Korea
15:07in
15:082025
15:08alone
15:09and
15:09under
15:09the
15:09relevant
15:09rate
15:10category
15:10of
15:10course
15:11so
15:11the
15:11fat
15:11ex
15:12case
15:12shows
15:12that
15:13regulatory
15:13oversight
15:14cannot
15:14stop
15:15at the
15:16time
15:16of a
15:17product
15:17it
15:17receives
15:18import
15:18registration
15:19now
15:19the
15:19claims
15:20made
15:21by
15:21these
15:21companies
15:22on
15:22their
15:22websites
15:22social
15:23media
15:23they
15:23also
15:24need
15:24scrutiny
15:24so
15:25the
15:25drug
15:26regulator
15:26has
15:26taken
15:27other
15:27actions
15:27involving
15:28cosmetic
15:28importers
15:29this
15:29year
15:29although
15:30the reasons
15:31have
15:31been
15:31varied
15:32not only
15:33the
15:33quality
15:33or
15:34the
15:35labelling
15:35there
15:36have
15:36been
15:36different
15:36reasons
15:37why
15:37they
15:37have
15:37cancelled
15:38the
15:38licences
15:38and
15:38they
15:38are
15:39increasing
15:39the
15:39scrutiny
15:40but
15:40the
15:40regulator
15:41now
15:41faces
15:42the
15:42challenge
15:42of
15:42ensuring
15:43that
15:44products
15:44entering
15:45in
15:47this
15:47particular
15:48category
15:48and
15:48expanding
15:49market
15:49within
15:51the
15:51claims
15:51permitted
15:52under
15:52the
15:52Indian
15:53law
15:53so
15:53that
15:53challenge
15:54definitely
15:54remains
15:55there
15:55Sakshi
15:56thanks
15:56a lot
15:57Neetu
15:57for
15:57getting
15:57us
15:58all
15:58of
15:58those
15:58details
15:59there
15:59as
15:59well
16:00let's
16:01also
16:01quickly
16:01look
16:02at
16:02what
16:02else
16:03is
16:03buzzing
16:03the
16:03oil
16:04and
16:04gas
16:04sector
16:04like
16:04we
16:05pointed
16:05out
16:05of
16:05course
16:06is
16:06the
16:06top
16:06mover
16:06with
16:074.5%
16:08kind
16:08of
16:08moves
16:09coming
16:09in
16:09led
16:09by
16:09reliance
16:10there
16:10are
16:10other
16:11sectors
16:11that
16:11are
16:11buzzing
16:12you're
16:12looking
16:12at
16:12auto
16:13space
16:13that's
16:14also
16:14buzzing
16:14in
16:15trade
16:15of
16:15course
16:15on
16:16the
16:16back
16:16of
16:16the
16:17kind
16:17of
16:17sales
16:17figures
16:18that
16:18we
16:18saw
16:19for
16:19the
16:19month
16:19of
16:19October
16:20let's
16:20actually
16:20take
16:21Sudip's
16:21view
16:21there
16:21as
16:22well
16:22Sudip
16:23sir
16:23how
16:23did
16:23you
16:24find
16:25okay
16:25all right
16:26we'll
16:26try and
16:27form
16:28the
16:28connection
16:28yet
16:28again
16:29with
16:29him
16:29but
16:29at
16:29the
16:29moment
16:30you're
16:30looking
16:30at
16:30breaking
16:31news
16:31also
16:31coming
16:31in
16:32on
16:32your
16:32screens
16:32this
16:32is
16:33Reliance
16:33stock
16:33set
16:34for
16:35biggest
16:35gain
16:35since
16:362020
16:37also
16:38Reliance
16:38stock
16:38has
16:39definitely
16:39fired up
16:40our
16:40Diwali
16:41cheer
16:41on
16:42the
16:42Indian
16:42stock
16:42markets
16:43with
16:43a
16:43rally
16:44of
16:44over
16:449%
16:45in
16:46a
16:46single
16:46day
16:47adding
16:471.2
16:48lakh
16:48crores
16:48to
16:49its
16:49market
16:49cap
16:50and
16:50of
16:51course
16:51the
16:51market
16:51cap
16:52of
16:52the
16:52overall
16:52group
16:53has
16:53now
16:53shot
16:53above
16:5417
16:54lakh
16:54crores
16:55as
16:55well
16:55that's
16:56what
16:56is
16:56the
16:56total
16:57market
16:57cap
16:57of
16:57Reliance
16:58industries
16:58led
16:58by
16:59the
16:59strong
16:59earnings
17:00and
17:00brokerage
17:01house
17:01is
17:01now
17:01penciling
17:02in
17:02much
17:02higher
17:02targets
17:03we've
17:03seen
17:03Goldman
17:04Sachs
17:04penciling
17:05in
17:051840
17:06as
17:06the
17:06target
17:07price
17:07for
17:08Reliance
17:08as well
17:09but
17:09auto
17:09stocks
17:10is
17:10what
17:10we
17:10were
17:10discussing
17:11and
17:11Sudheep
17:11is
17:11back
17:11with
17:12us
17:13Sudheep
17:13sir
17:13auto
17:13sales
17:14the
17:14kind
17:14of
17:14numbers
17:15that
17:15we
17:15have
17:15seen
17:16for
17:16the
17:16month
17:16of
17:16October
17:17what's
17:18your
17:18fresh
17:18approach
17:19there
17:19where
17:19are
17:20you
17:20confident
17:20of
17:20gains
17:21continuing
17:21and
17:22where
17:22would
17:22you
17:22still
17:23say
17:23that
17:23there
17:23is
17:24some
17:24caution
17:24warranted
17:27as
17:27far as
17:28the
17:28passenger
17:29vehicles
17:29are
17:30concerned
17:30it
17:30has
17:30been
17:30a
17:31fantastic
17:32set
17:32of
17:32numbers
17:32and
17:33remember
17:33the
17:34festive
17:34season
17:34just
17:34started
17:35so
17:35we
17:36do
17:36expect
17:36Q3
17:37particularly
17:38November
17:39numbers
17:40also to
17:40be
17:40very
17:41good
17:41we
17:42are
17:42heading
17:42into
17:42Diwali
17:43Thanteras
17:44and
17:44whole lot
17:45of
17:45other
17:46festivals
17:46so
17:47November
17:48numbers
17:48I'm
17:48very
17:48confident
17:49except
17:50the
17:50tractor
17:50segment
17:51and
17:51we
17:51have
17:51seen
17:51that
17:52even
17:53with
17:53the
17:53modest
17:54expectation
17:54which
17:54the
17:55market
17:55had
17:55hasn't
17:56been
17:57met
17:57in
17:57case
17:57of
17:57the
17:58tractor
17:58companies
17:58including
17:59Mahindra
18:00and
18:00Mahindra
18:00so
18:01tractor
18:01sales
18:02I think
18:02I am
18:03very
18:03very
18:03cautious
18:04the
18:05rural
18:05challenges
18:06particularly
18:07due to
18:08shortage
18:09of
18:09rainfall
18:09is
18:10real
18:10and
18:11I
18:11think
18:11I
18:12will
18:12be
18:12extremely
18:12cautious
18:13on
18:13the
18:13tractor
18:14numbers
18:14but
18:14two
18:15wheelers
18:15as
18:16well
18:16as
18:16four
18:16wheelers
18:17at
18:17this
18:18stage
18:18I
18:18think
18:18does
18:19look
18:19good
18:20okay
18:20let's
18:21also
18:21talk
18:21a bit
18:22about
18:22metals
18:22and
18:23precious
18:23metals
18:23we've
18:24been
18:25seeing
18:25some
18:25cool off
18:26on
18:26gold
18:26and
18:26silver
18:27right ahead
18:28of
18:29Diwali
18:32and
18:32Dhanteres
18:33rather
18:33how are you
18:34looking at
18:35the precious
18:36metals at
18:36this point
18:37in time
18:37even
18:37the metals
18:38indexes
18:39are up
18:39by 2.8%
18:40so it's
18:40not just
18:41the precious
18:42metals
18:42and the
18:43bullion
18:43but even
18:44the hard
18:44metals
18:44that are
18:45showing
18:45you
18:45some
18:45strength
18:46so how
18:46are you
18:46looking at
18:47this entire
18:47metals
18:48rally
18:48bullion
18:48rally
18:50vis-a-vis
18:50the kind
18:51of
18:51cool off
18:51that we
18:51are seeing
18:52on
18:52gold
18:52and
18:53silver
18:53I've
18:53been
18:53positive
18:53on
18:54metals
18:54for a
18:54very
18:54long
18:55time
18:55and I
18:55continue
18:56to
18:56maintain
18:56my
18:56view
18:57as far
18:58as
18:58the
19:00commercial
19:00metals
19:01are
19:01concerned
19:01whether
19:02it's
19:03iron
19:05aluminum
19:06zinc
19:07copper
19:09all
19:09silver
19:10all these
19:11we have
19:11been
19:11very
19:11positive
19:12and we
19:12maintain
19:13our
19:13view
19:13as far
19:14as
19:14gold
19:14and
19:15silver
19:15from a
19:15consumption
19:16point
19:16of
19:16view
19:17from a
19:17precious
19:18metal
19:18angle
19:19they've
19:20seen a
19:20significant
19:20correction
19:21compared to
19:22where the
19:22prices have
19:23gone
19:23and gold
19:24is hovering
19:24between
19:25$3,800
19:26and $3,900
19:28and I
19:29suspect it
19:30will continue
19:30here for
19:31some time
19:31and that's
19:32good for
19:33the festival
19:33demand
19:34I think
19:34prices
19:35being where
19:35they are
19:36will lead
19:37to incremental
19:37festival
19:38demand
19:38as far as
19:40India is
19:40concerned
19:41so I
19:41don't see
19:42much of
19:42a problem
19:43there
19:43the gold
19:45and silver
19:45prices will
19:46start shooting
19:47up once
19:48again as
19:49and when
19:49central banks
19:50particularly the
19:51Chinese central
19:51banks starts
19:53buying gold
19:54again I
19:55think there
19:56is some
19:56time so we
19:58can wait
19:58and watch
19:59this thing
20:00fundamentally
20:00gold silver
20:01I believe
20:02will give
20:03you 10 to
20:0315% return
20:04from current
20:05level in a
20:06year's time
20:07okay let's
20:08take some
20:08questions with
20:09you from
20:10our viewers
20:10we have
20:11our first
20:12question from
20:12Chandan Singh
20:13from Noida
20:13who says
20:14are paint
20:15stocks worth
20:15investing for
20:16the next
20:16three to six
20:17months
20:20well I
20:21will say
20:21be a little
20:22cautious
20:23you know the
20:24oil prices
20:24the way they
20:25have moved
20:25up I'm
20:27not very
20:27comfortable
20:28and remember
20:29that normally
20:30oil prices
20:31get reflected
20:32in the paint
20:33company's margin
20:34with a lag
20:35of a quarter
20:36so whatever
20:37has happened
20:38to the oil
20:38prices in the
20:39last quarter
20:40will get
20:41reflected in
20:41the margin
20:42this quarter
20:43so it's
20:44better to be
20:45cautious
20:45also remember
20:46the pressure
20:47of competition
20:48continues to be
20:49real with the
20:50entry of
20:50Aditya Billa
20:51group the
20:52pricing pressure
20:53on the
20:54paint companies
20:55is there
20:56so I'll be
20:57cautious in
20:58terms of margin
20:59as far as
21:00volumes are
21:00concerned I
21:01think the
21:01volume should
21:02be okay
21:02but the
21:03margins are
21:04will be
21:04under
21:05pressure
21:05so it's
21:06better to
21:06be careful
21:06the valuation
21:07is not cheap
21:09okay thank
21:10you so much
21:10for being with
21:11us and for
21:12advising all our
21:12viewers there
21:13with all your
21:13insights on the
21:14markets thank you
21:15so much appreciate
21:15your time with
21:16us we'll quickly
21:16look at how the
21:17markets are ending
21:18this session
21:1923,440 just
21:21look at the last
21:22couple of minutes
21:23and the kind of
21:23move that we've
21:24seen a sharp
21:25cash impact 1.6
21:26percent higher this
21:27should settle down
21:29387 points higher
21:30is what you're
21:30looking at a
21:31sudden bumper move
21:32towards the end
21:33of the session
21:34look at what's
21:34happened on the
21:35nifty bank back
21:36above 55,000 with
21:37that one single
21:38tick 0.5 percent
21:40higher in trade
21:41also auto
21:42stocks 1.3 percent
21:43higher in trade as
21:45well those are the
21:45big pockets let's
21:46also pull up the
21:47metals and the
21:48broader markets
21:48too yes mid caps
21:49about 1.1 percent
21:51higher broader
21:51markets definitely
21:52participated you're
21:53looking at the
21:54metals index 3.2
21:56percent higher smart
21:57move there as well
21:58so all across the
21:59board we saw maximum
22:00of the sectors
22:00participating just
22:02about just slight
22:03losses on the
22:03pharma index but
22:04rest of them all
22:05moved up but those
22:06are the top
22:06movers on your
22:07screen 9.5 percent
22:08higher for reliance
22:09industries don't
22:10remember when was
22:11the last time you
22:11actually saw that
22:12big huge daily
22:14tick Tata Steel
22:15JSW steel from the
22:16metals pack 4.5 to
22:185.5 percent higher
22:20Sriram Finance
22:21Coal India
22:21Gio financials 4
22:23percent upwards is
22:24what we are looking
22:25at all of these big
22:26gains let's actually
22:27pull up the top
22:27laggards too where
22:29did we see the
22:30pressure IT stocks
22:31Infosys Wipro both
22:32declined 1.5 to
22:342.5 percent lower
22:35ICIC Bank well
22:36HDFC Live
22:37Kotak Mahindra Bank
22:38these were the key
22:39stocks and Axis
22:40Bank also did
22:42decline as well at
22:43this point in time
22:44but now it's the
22:46time to get you
22:47big market voices on
22:49our special Diwali
22:49coverage the worst
22:50of the market
22:51sell-off may be
22:52behind us with
22:53downside now limited
22:54and upside looking
22:55far more attractive
22:56that is what is the
22:57assessment of
22:58Motilal Oswas
22:59Ramdeo Agarwal
23:00in this exclusive
23:01conversation he also
23:02weighs on the AI
23:03trade potential
23:04correction and what
23:05could bring in
23:06global money back to
23:07India
23:16is the worst behind
23:17us Mr. Agarwal or
23:19is there more pain
23:21that all market
23:23participants have to
23:24endure for some
23:25more time
23:27see we are at the
23:28bottom in the sense
23:29that we are scrapping
23:30the bottom now
23:31whether because see
23:32geopolitics is completely
23:34out of control in the
23:35sense that what can
23:36happen post post the
23:38election that is day
23:39after or something like
23:39that but what tells me
23:42from the oil price is
23:44actually it is softer
23:45so I would think that we
23:46are scrapping the worst
23:47of the geopolitical and
23:49worst of the market in
23:50India
23:51can it go far worse
23:53I don't think it can go
23:55far worse but definitely
23:56it can be it can be a
23:58little more time
23:59consuming in terms of
24:01getting out of the
24:02vote
24:04but populistically I would
24:05say that we are at the
24:06bottom and the downside
24:08is far more limited I
24:11would say downside is I
24:13very very limited let's
24:14not put a number but
24:15upside is much bigger
24:16looking at the earnings
24:18momentum I would think
24:19that I mean next two
24:24three years I mean 40 50
24:25percent kind of return
24:26upside is very very
24:28likely if the earnings
24:30momentum continue and
24:32can it go another 5-7
24:34percent lower I mean that
24:35is quite possible so I
24:36would say your downside to
24:38upside ratio is looking
24:41extremely favorable for the
24:42investors
24:43yes sir since you are
24:44saying just about 5-7
24:45percent downside but 40
24:47to 50 percent kind of
24:48returns from here from the
24:50upside you know over the
24:52next two three years is
24:53there a number that you
24:53are looking at where the
24:54Nifty and the Sensex can
24:56you know be seen at over
24:58the next three years or so
25:00yeah that's what I said in
25:02the sense that your
25:02downside is maybe 5-7
25:04percent that maybe 10
25:05percent but upside is 50
25:06percent so it is bonus to
25:0710 offering because it's
25:09never zero it's a it's not
25:11a it's a risk risk market
25:12so risk market means there
25:14is going to be risk so if
25:16somebody says that there
25:16is no risk at all from any
25:18level that will be foolhardy
25:19so I think there is a risk
25:21but risk is much lower than
25:23what could be the return so
25:25that's what I am saying that
25:27it could be 1 is to 10 1
25:28is to 15 kind of a call
25:3035,000 on the Nifty over
25:32next three years yeah that's
25:35what I am saying the Nifty
25:36could be 40 50 percent up in
25:39next two three years and with
25:41a very limited downside so I
25:44mean right now we are still
25:46in the midst of global
25:47uncertainty and I would think
25:50that things are falling in
25:52place one other thing which
25:53which was completely out of
25:54our hand was the AI trade and
25:56AI trade itself has in fact
25:58oil while everybody was saying
26:00that at some point of time it
26:02will come down because there
26:03is enough oil and the oil
26:04consumption is actually
26:06stagnating or going down so oil
26:08is not a very long term problem
26:10but AI trade not India not in
26:13fact India on the other side of
26:14the AI where actually Indian IT was
26:16losing out to AI in fact that
26:18itself is reversing so I don't see
26:20any force which is going
26:22particularly against India but
26:24still the environment outside is
26:26still challenging rupees under
26:28pressure we have 200 250
26:31billion dollars of short position
26:32in the future so I think rupee is
26:35still thing to watch and as the
26:37rupee becomes stronger and more
26:39stable and I think the confidence
26:43of the foreign investors will come
26:44back and earnings are already in
26:46place so I would think that
26:47downside is limited upside is I'm
26:50pretty
26:53all right that was Ramdeo Agarwal saying
26:55that of course he does not see any
26:57forces which are against India in
26:59fact all the things are settling
27:00down which should bring back even
27:02the foreign capital back into the
27:04Indian equities well of course you
27:05can watch the entire exclusive
27:08conversation with Ramdeo Agarwal on
27:10business today website and on our
27:12YouTube channel as well but in case
27:13you have questions about your
27:15investments in your mutual funds
27:16SIPs gold or market related
27:18questions then you can send them to us
27:20on the number that's flashing on
27:22your screens