Mark to Market
138 episodes - English - Latest episode: over 3 years ago -A show which covers comments and analysis which look at market-moving news and trends. This is a Mint production, brought to you by HT Smartcast.
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Episodes
133: As DHFL’s fate gets sealed, Piramal must guard against buyer’s remorse
January 19, 2021 08:10 - 6 minutes - 5.78 MBDHFL’s acquisition would be a positive for Piramal Enterprises despite the short-term requirement of a large capital infusion. Even so, Piramal Enterprises must guard against buyer’s remorse as it sets to acquire DHFL. Why is that? Tune in here to find out.
132: Auto sector’s Q3 revival may be marred by higher input costs
January 16, 2021 08:17 - 5 minutes - 5.03 MBAutomobile companies have benefited from a strong festival season show. This is expected to reflect in the December quarter results but higher input costs could play spoilsport.
131: Why India sticks out as a sore thumb in debt flows
January 14, 2021 10:03 - 6 minutes - 5.56 MBIt has been 13 days into the New Year and some old trends are still playing out. One is that of dollar outflows from India’s bond markets. India’s equity market continues to see record dollar inflows but foreign investors are still exiting bonds. What gives? Tune in here to find out more.
130: Avenue Supermarts’ Q3 is as normal as it can get despite the pandemic.
January 12, 2021 08:33 - 6 minutes - 5.63 MBAvenue Supermarts' is recovering at a faster pace than expected. Q3FY21 revenues grew by 10%, marking a reversal in the trend of revenue drop seen in the first half of FY21. Tune in here to find out more.
129: Bank shares’ rally needs a disclosure boost in Q3 performance
January 09, 2021 06:49 - 5 minutes - 5.36 MBBanking shares have been one of the biggest gainers in the recent equity market rally. But can banks show the performance to justify the gains? December quarter results may show mostly healthy numbers but stress is still lurking in the balance sheets of lenders.
128: The curious case of the two-fold jump in Info Edge shares.
January 07, 2021 08:38 - 6 minutes - 5.77 MBShares of Info Edge (India) have risen about 11% so far in 2021, taking its rise compared to the lows of March to over 200%. Many analysts are struggling to justify valuations. What are the reasons behind the meteoric rise in the stock price? Tune in here to find out.
127: Ford JV exit shows M&M’s auto troubles, although tractors may have its back
January 05, 2021 08:05 - 5 minutes - 4.85 MBAfter forging several JV with Ford is the latest move in this regard. What are the implications? Listen in to find out.
126: Tale of two L&Ts, where value creation and destruction go hand in hand
December 31, 2020 08:24 - 5 minutes - 5.36 MBLarsen & Toubro Ltd's market cap is currently at Rs 1.8 trillion, the exact same levels as three years ago. Actually, things would have been far worse, but for the stellar performance of its IT services subsidiaries. Why is that? The details are in this podcast. Listen in.
125: After a turbulent 2020, revival won’t be easy for aviation firms in new year
December 29, 2020 09:46 - 5 minutes - 5.35 MBThe aviation sector has been among the worst hit in 2020. Will 2021 bring any respite? Tune in here to find out what the new year can bring for Indian airlines.
124: Weak dollar to remain a dominant theme for global equities in ’21 as well
December 24, 2020 05:00 - 6 minutes - 5.51 MBThe US government announced a stimulus package of $900 billion. While the jury is still out on whether this is enough to move the needle on recovery, it does pave the way for further US dollar weakness. Find out more about the US dollar outlook in this podcast.
123: DHFL’s resolution turning for the better, but there is risk of buyers remorse
December 22, 2020 09:05 - 6 minutes - 5.5 MBWith the final clutch of suitors competing intensely, the plot has turned in favor of DHFL's financial creditors. The valuation of DHFL has also gone up with revised bids. Listen in for more details on DHFL's resolution.
122: Minutes reveal the hawkish side of RBI’s rate-setting committee
December 19, 2020 09:43 - 6 minutes - 5.79 MBThe RBI’s rate-setting committee is worried over inflation far more than its statement on 6 December showed. Minutes of the meeting reveal that members are closely monitoring the elevated inflationary pressures.
121: Emerging market equities the most preferred asset class among fund managers
December 17, 2020 07:47 - 5 minutes - 5.4 MBGoing into 2021, emerging market (EM) equities are finding their lost charm again among investors. What is contributing to this rising popularity? What are the risks? Tune in here to find out more
120: TCS sees significant cloud opportunities but valuations leave no room for error
December 15, 2020 05:52 - 5 minutes - 5.41 MBTata Consultancy Services stock has been seeing a good run in 2020 and is pricing in new opportunities, including cloud technology. Even so, the TCS stock has risen over 25% compared to pre-covid highs in February and valuations are not inexpensive. For more details, listen in.
119: ITC stock gets some light finally but ESG concerns still loom
December 10, 2020 09:29 - 5 minutes - 5.29 MBITC shares have surpassed the psychological barrier of Rs200 per share this week. But will the momentum sustain given the ESG concerns? Listen in, to find out.
118: Flipkart IPO may ride piggyback on post-covid boom in e-commerce
December 08, 2020 10:38 - 5 minutes - 5.42 MBA Mint report said Walmart is working towards an IPO for Flipkart, at a valuation of $40 billion. While the valuation seems like a stretch, note that share prices of some listed e-commerce firms in emerging markets have skyrocketed this year, helped by covid-19 led growth. But is that enough? Tune in to find out more.
117: RBI unperturbed by liquidity yet, but odds for rate cuts lower
December 05, 2020 06:57 - 5 minutes - 5.27 MBRBI has left its policy rate and stance untouched in its latest meeting. Contrary to market expectation, it has not indicated a change in its liquidity stance either. While this has relieved markets, economists are calling it curtains down for rate cuts.
116: Auto stocks cheer Nov sales data, but valuations leave less margin of safety
December 03, 2020 08:17 - 5 minutes - 5.21 MBAuto stocks have shown sharp gains in anticipation of positive data in November. Auto sales from passenger vehicles to commercial vehicles are growing fast and much of this is already priced in. It means that any negative surprises may hurt investor sentiment.
115: L&T stock is out of slumber, but further upside depends on execution
December 01, 2020 09:14 - 6 minutes - 5.51 MBL&T’s shares have fired up off late? Investors are appreciating the firm’s efforts to deal with elevated debt and order inflows. Large order wins by the company have helped the stock but worries over margins remain.
114: Why Nielsen data contradicts good Q2 show by listed FMCG firms
November 28, 2020 08:34 - 6 minutes - 5.89 MBMarket research firm Nielsen predicts a mere 1.6% value growth for the FMCG sector for the September quarter. This goes against the aggregate growth reported by listed companies for the quarter. Who is right? Listen in to find out
113: After slow IPO, Gland Pharma finds more takers in secondary markets
November 26, 2020 08:22 - 6 minutes - 5.77 MBWhoever stuck their neck out in the Gland Pharma IPO is already sitting on decent gains. For an issue that offered full allotment for every application in the non-institutional category, it’s been among the best-performing IPOs for investors. Tune in here for more details.
112: Unexciting privatisation news flow keeps a check on BPCL shares
November 24, 2020 08:46 - 6 minutes - 5.68 MBAbout a year ago, BPCL's shares had rallied to more than ₹500 on the back of hopes around its proposed privatization. But since then, the stock has lost about 20%. Tune in here to find out more about the BPCL stock.
111: India needs big promoter-led banks, and the RBI needs sharp sleuths to oversee them
November 21, 2020 05:56 - 5 minutes - 5.3 MBBanking regulator RBI is likely to revisit the idea of allowing big industrial houses to enter the banking system. An internal working group has made some key recommendations which the regulator is likely to adopt. But before it gives out licences, the RBI may allow big NBFCs to turn themselves into banks first
110: DBS Bank India’s rescue of Lakshmi Vilas Bank shows RBI has learnt finesse
November 19, 2020 08:01 - 5 minutes - 5.42 MBLakshmi Vilas Bank would be the third bank to get rescued by the RBI in a span of just a year. The fact that three banks went under highlights the unsavoury weak points of India’s banking system. What are the key takeaways? Listen in for details.
109: Aurobindo's US outlook improves but earnings may just be steady
November 17, 2020 08:17 - 5 minutes - 5.19 MBInvestors are banking on Aurobindo’s US pharma revenues getting a boost on the back of improving injectable sales in the second quarter. But a part of that growth already seems to be reflecting in the stock price gains of about 86% in 2020. Find more details in this podcast. Listen in.
108: IndiGo top aviation stock globally, as vaccine adds fuel to valuations
November 12, 2020 09:37 - 6 minutes - 5.58 MBIndigo’s stock leads global airlines in big valuation gains. Increasing daily traffic, market share gains and a vaccine in the works is making Indigo fly higher than its pre-covid levels. The gush of liquidity in the equity markets is not hurting either.
107: Divi’s Laboratories expansion plans raise hopes for its stock
November 10, 2020 08:04 - 5 minutes - 5.16 MBDivi’s Laboratories stock has gained a whopping 83%. The firm’s capital expenditure plans has cheered investors. Its September quarter results too support the boost to valuations of the stock.
106: Gold loan lenders glitter, hope for growth to sustain
November 07, 2020 08:14 - 6 minutes - 5.69 MBGold loan companies are reaping benefits of a rise in gold prices and demand for emergency finance amid a pandemic. Both Manappuram Finance and Muthoot Finance reported a rise in asset under management growth for the September quarter. But will volatile gold prices upset this healthy trend?
105: HDFC shows swift recovery from pandemic with an upbeat outlook
November 03, 2020 08:45 - 6 minutes - 5.56 MBHDFC, India’s largest mortgage lender showed quick recovery from the impact of Covid-19 pandemic in the September quarter. Collections efficiencies are close to pre-covid levels. Loan disbursements are looking up. All the lender now needs is to sustain this momentum for its premium valuations to stick.
104: RIL factor makes Airtel shares lag behind, despite market share gains
October 31, 2020 03:30 - 4 minutes - 4.04 MBBharti Airtel stock’s one-year returns stood at over 100% in mid-February. But since Reliance Industries began its relentless fund raising spree, things have turned adverse for Airtel. Airtel’s Q2 results have shown the company’s resilience but its shares still trail that of Reliance Industries. Tune in to know more.
103: Axis Bank keeps provisioning spree but valuations reflect worry on asset quality
October 29, 2020 08:18 - 5 minutes - 5.39 MBAxis Bank kept up with its cautious approach to asset quality in the September quarter notwithstanding encouraging signs of recovery in its balance sheet. Tune in to our podcast to find out more about the third largest private sector lender's performance last quarter.
102: Kotak Mahindra Bank shrinks loan book to stave off pandemic risk
October 27, 2020 07:32 - 5 minutes - 5.19 MBKotak Mahindra Bank kept to its conservative approach amid a pandemic, choosing to shrink its loan book to stave off risk in the September quarter. To find the key trends during Q2, listen to our podcast here:
101: Take one for growth. RBI's new MPC bats for investment revival
October 24, 2020 05:01 - 5 minutes - 4.99 MBRBI's newly minted rate-setting committee is looking beyond short-term boosts to growth. Minutes show that the MPC discussed the sovereign yield curve and its implications on investment. The focus was not limited to fixing the demand shock but of how to revive investments.
100: Bajaj Finance’s Q2 metrics show pandemic pain yet to lessen
October 22, 2020 08:03 - 5 minutes - 5.22 MBConsumer lender Bajaj Finance's September quarter performance showed that recovery from the covid-19 pandemic could be sluggish and long drawn. Tune in to find out more.
99: Despite a sequential recovery in Q2, Avenue Supermart's results fall short
October 20, 2020 07:37 - 5 minutes - 5.42 MBFor a stock that trades at an exorbitant multiple of 149 times trailing twelve-month earnings, Avenue Supermarts Ltd's September quarter results are a bit disappointing. Avenue, runs the DMart chain of retail stores, reported a 12% drop in revenues year-on-year. Listen in to our podcasts to find out more.
98: TCS, Infosys leave Accenture far behind on valuations
October 17, 2020 07:19 - 5 minutes - 5.39 MBGlobal IT giant Accenture is double the size of India's largest IT company TCS. Yet Accenture's valuations are comparatively far modest. What explains this divergence? Indian investors are far more excited about the prospects of IT companies than in the US. The difference, it seems, lies in the composition of Indian and US markets.
97: Post Covid, Infosys races ahead of TCS on revenue, profit growth
October 15, 2020 05:38 - 5 minutes - 5.36 MBInfosys Ltd has been beating Tata Consultancy Services Ltd on growth metrics for a while now. Post-covid, the extent of outperformance has only increased. Listen in to our podcast to find out more details.
96: Government’s pre-festival gift may not boost consumption significantly
October 13, 2020 07:05 - 5 minutes - 5.22 MBFinance minister Nirmala Sitharaman’s fiscal stimulus announcements in a press conference on Monday turned out to be a bit of a damp squib. What gives? Give our podcast a listen to find out more.
95: With a slew of measures, RBI's Das becomes the bond whisperer
October 10, 2020 05:05 - 4 minutes - 4.44 MBThe RBI announced a series of measures on Friday that would give big benefits to the bond market. In fact, every prayer of the bond market got answered on Friday, even the silent ones. So what has the RBI done?
94: Bajaj Finance Q2 update shows EMI charm on consumption still pale
October 08, 2020 07:11 - 5 minutes - 5.06 MBThe COVID-19 pandemic is said to have altered consumer behaviour drastically. For a consumer lender such as Bajaj Finance, the implications of this are already visible. Here's why. Tune in to our podcast by @PallaviPengonda to find out more.
93: As govt picks the bill for interest waiver, banks fret over credit culture
October 06, 2020 06:45 - 5 minutes - 5.2 MBDistressed Indians may soon get a relief on compound interest charged on their loans during the six-month moratorium period if the Govt.'s proposal gets legal sanction. But the Nifty bank index rose only slightly on Monday. What explains the muted sentiments?
92: Embassy’s robust rental collections reflect resilience of high-end office properties
October 03, 2020 08:01 - 5 minutes - 4.98 MBThe Embassy Office Parks real estate investment trust (REIT) has been performing well despite a post-covid world giving rise to the work from home culture. REITs such as Embassy Office Parks own, operate and finance real estate properties, mostly commercial real estate properties such as large office spaces, malls etc.
91: Why Mazagon Dock’s IPO has piqued retail investor interest
October 01, 2020 07:43 - 5 minutes - 5.2 MBThe initial public offering of Mazagon Dock Shipbuilders Ltd has kindled more retail interest than UTI Asset Management's public offer. What gives? Listen in to @livemint_m2m podcast by @PallaviPengonda to find out more.
90: Comatose Lakshmi Vilas Bank needs a quick RBI prescription.
September 29, 2020 11:00 - 5 minutes - 5.12 MBThe RBI needs to pick up the ball quickly and put in place a plan to revive Lakshmi Vilas Bank. Clearly, its prompt corrective action (PCA) hasn’t worked. So what is the best course of action? Tune in to find out the details.
89: Accenture’s healthy order wins underpins the optimism in IT stocks
September 26, 2020 07:19 - 5 minutes - 5.05 MBThe latest results of the global IT company Accenture PLC has given reasons to cheer to the investors of Indian IT companies. Outsourcing is where Indian companies have a greater presence. Analysts believe that India’s IT firms are likely to see a good run in the coming quarters. Tune in and find out.
88: Jio, flush with capital, turns up the heat on Airtel, Voda-Idea
September 24, 2020 08:37 - 6 minutes - 5.55 MBShares of Bharti Airtel fell about 8% on Wednesday. This is after Reliance Jio announced new tariff plans in the postpaid mobile services segment with a number of freebies. For more details on the impact on telcos, tune in here with Pallavi Pengonda.
87: With CAMS IPO, investors get a unique play on India’s mutual fund industry
September 22, 2020 08:20 - 5 minutes - 5.01 MBAt the offer price, valuations of the CAMS stock may appear a bit stiff at about 35 times FY20 earnings. But given the current frenzy for initial public offerings (IPOs), the issue is expected to sail through. For more details on this IPO, do tune in here.
86: Despite near decade-low yields, RBI may need to binge on bonds
September 19, 2020 07:28 - 5 minutes - 4.63 MBThe 10-year benchmark government bond yield is an important metric that is tracked by everyone in the markets. This 10-year bond yield has risen by 25 basis points to about 6% in the last two months. In other words, risk-free borrowing cost has gone up and has increased other borrowing costs. Tune in for more..
85: Apollo Hospitals’ recovery from covid is encouraging, but its stock is pricey
September 17, 2020 06:27 - 5 minutes - 5.06 MBApollo Hospitals Enterprises Ltd’s Q1FY21 revenue contraction is no surprise amid the pandemic. While the firm has done well on the cost front, the stock's pricey valuations seem to factor the brighter picture adequately. You can find more details by tuning in here
84: Investor hopes from Indian IT rise after HCL Tech’s earnings update
September 15, 2020 07:48 - 5 minutes - 5.25 MBStocks of IT services companies got a shot in the arm after HCL Technologies Ltd surprised the Street with its pre-quarter earnings update. HCL’s better prospects raised hopes of an improvement in the entire industry’s performance in Q2. Unsurprisingly, HCL stock jumped by over 10% on Monday and the Nifty IT index rose 4.7%, making it the biggest gainer among sectoral indices on the NSE.