India Macros I Trump ahead of Harris I AlfAccurate PMS I Navi Finserv

Some interesting macro thoughts from AlfAccurate PMS Managers from our Webinar on Friday

ROE of Indian companies – rising again after a decade.

Selectivity - Several pockets of stocks that have price movements far more than the profit growth.

• The Nifty managed to close above crucial support levels of 24,700-24,800.

• US markets rallied on optimism over semiconductor stocks.

• Despite some hue and cry over the correction, let’s understand that the Nifty 500 is down only about 4.5% from its top (pockets of overvaluations are getting corrected for the right reasons).

• Infosys had a slight miss in earnings – We had mentioned a few months back that IT is a good short-term value play which we feel is behind us now. Most bell weather tech stocks are trading at around 30 times earnings and we feel the next 12 months the upsides here could be limited.

• Very Aggressive investors can do a 12/24m SIP in China.

• On Indian equities the triggers would come from the Israel conflict and the US elections – there is a chance that markets could defy bearish predictions and move higher (Investors low on equities and sitting on cash can deploy some amounts at current levels).

• The RBI has sanctioned NFBC’s like Navi, Asirvad from disbursing further loans. We feel that it’s a great solace to have a regulator like RBI that is constantly on the vigil and in fact is in the interests of these companies also (Note on Navi attached below).

• Meet Divya Gokulnath of Byju’s and her story

• Meet the new Gurgaons of India

• US markets do well on Netflix earnings and tech stocks

• Note on Navi from INR Bonds - PDF attached below

Interesting article by our research team on a deep dive into Indian markets and their valuations

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