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On the Indian economy | Ken Peng, Asia-Pacific Investment Strategist at Citi Private Bank: India is not a very export oriented market and what has happened is very domestic oriented; you have bond yields that are completely inconsistent with 5 percent inflation and what ends up happening is a lot of bond investors, yield seekers would look to stocks and in that kind of environment, the Indian stock market should be favorable – if this is going to effect the emerging markets wider – I think it still depends a bit on the dollar situation. Catch the conversation here.
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on AT-1 bonds | Lakshmi Iyer, CIO-Debt and Product Manager at Kotak Mahindra AMC: It is a category of the fraternity, which has subscribed to these links where one could see a lukewarm response in the future. However, if you see over the past week and even from yesterday’s trading session, there has been an appetite to buy, non-MF volumes are not significantly high, but it proves that if the Credibility or creditworthiness of the underlying issuer is not a concern, there are takers or buyers for these instruments. This is indeed positive news. Catch the conversation here.
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Maruti on rising product prices | Shashank Srivastava, ED-marketing and sales at Maruti Suzuki: We do not pass the full cost on to the consumer. We can only pass on part of the increase in costs because it is difficult at this time when the market is recovering and it is strengthening month by month. Therefore, we should not compromise this by arbitrarily increasing or passing on the full cost as a price to the consumer. The price increase will be generalized … Regarding the price quantum, we have not yet decided on the quantum but it seems that because the cost of inputs has increased dramatically, it is going to be substantial. Catch the conversation here.
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on the ports of Adani | Sandeep Upadhyay, MD-Infrastructure Advisor at Centrum Capital: There is still enough steam left in Adani ports and the Special Economic Zone. The current acquisition they have announced on Gangavaram appears to be a deal they made at around 9 times EV / EBITDA. I think there is still enough steam in the stock as the stock continues to trade at a higher premium over 9x. They will trade 12-13 times in terms of their futures multiples. I see a 20-25% increase in Adani ports over the next 12 months and expect more acquisitions from the group. Catch the conversation here.
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on the container shortage | Sunil K Vaswani, Executive Director (ED) of the Container Shipping Lines Association: The situation is not the same as it was a few months ago; in fact, it has improved a lot more. We are practically on the verge of getting back to normal. We are not yet normal. In addition, to our advantage, imports have increased and to close the gap between import and export, we have repositioned empty containers. Catch the conversation here.
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In the US markets | Manpreet Gill, Head of FICC Investment Strategy at Standard Chartered Private Bank: What strikes us again is that Jerome Powell, unlike the ECB, did not try to lean heavily against rising bond yields. There is no reason for them to do so if the economy is doing well, the corporate bond markets are doing well, and the dollar has not risen sharply. Most of the movement could very well be behind us, but if you watch inflation and growth pull back towards the 2 percent range, it’s there – because yields are hovering around where they are – potentially 10 to 50 bp more are not. seem unreasonable. It is entirely possible that the markets are testing how far the Fed is willing to allow this to go. Catch the conversation here.
