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Time of India
a day ago
- Business
- Time of India
Dhunseri group to build two more poly film units in West Bengal with Rs 1000 crore
Kolkata: Dhunseri Poly Films , a wholly-owned subsidiary of Dhunseri Ventures , plans to set up two polyester films units in West Bengal with a projected investment of Rs 1000 crore, Dhunseri group chairman Chandra Kumar Dhanuka said. The company has one existing poly film making unit in Panagarh Industrial Park in Bardhaman district, 150 km from Kolkata. It became operational in 2024. The proposed units will be set up at the same industrial park. The fresh plan includes one greenfield unit to produce BoPET (biaxially oriented polyethylene terephthalate) -- a polyester film made from stretched polyethylene terephthalate and another unit to produce BOPP (bi-axially oriented polypropylene) which is used in the packaging industry. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang Undo "Capex of these two lines are likely to be financed with a 70:30 debt equity ratio and be commissioned by FY29," Dhanuka said. The units in Jammu are expected to be commissioned by March 2027, he said. Live Events
Time of India
2 days ago
- Business
- Time of India
India a great place to invest; it is expensive because you are paying for long-term growth: Deepak Shenoy
Deepak Shenoy , Founder, Capital Mind , says India remains a promising long-term investment destination due to its robust economy, outperforming many global counterparts. While some markets may offer temporary gains, India's current valuation reflects its sustained growth potential. Despite recent crude oil price fluctuations, India's OMCs are managing, though refining margins may experience volatility, impacting their overall valuation. Is the consolidation that we are seeing in the market a temporary pause before we start moving higher? The macros look very ripe for the Indian market, the rate cut has come through, the dollar index is cooling off, and with the hope of the earnings improving going ahead in the second half, do you see the markets go higher from here on after a phase of consolidation? And when do you see this consolidative phase getting over? Deepak Shenoy: We are fund managers, we always like the markets to be going up. So we will always have this optimistic view that in general, the markets should go up. But it is very difficult to predict the short term, so we are not really keen on saying no, no it is going to happen three months and six months and all that, but in general there is a lot of uncertainty in the near term, and that near-term uncertainty causes markets to be both volatile upside and downside. There's not much point predicting or trying to do anything about that. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang Undo If you look at the longer-term sentiment around 2 years, 5 years, 10 years, – those are a little more understandable from the perspective of the macro. The macro says that India is relatively less leveraged, the government does not have as much debt to GDP as otherwise, our interest rates are much more controllable because inflation is low, we have corporate capex that probably has a lot of room for it to grow because corporate balance sheets are strong. Domestic consumption in terms of retail loans has not picked up meaningfully in the last year or so and I hope that will change. But by and large, those have been the breaking down factors saying we are not growing meaningfully largely right now, but longer term we will do well. Whether this phase is a consolidation phase or before a breakout or whether it will before a breakdown I am not sure, but my feeling is if you are in this for the long term, India is a great place to invest; we have a strong economy, relatively better than perhaps a lot of other countries around the globe. The markets may reward some other pockets basically because they have either been beaten down too much or have a temporary upsurge, but relatively speaking, we are expensive but we are also growing. So, we are paying for long-term growth. If you are in this market, you should not think of the next three or six months as your target territory. You are thinking of five years, I think you have a better chance at making a reasonable return. Live Events You Might Also Like: Iran-Israel Conflict: A Middle East flashpoint that Indian economy can't ignore We can definitely understand your optimism towards the market, that being a fund manager you are always optimistic and you want the markets to go; but the fact of the matter is that there is a rise in the geopolitical tensions and that is impacting crude which is not good for the Indian market. So, give us some sense about how you see the crude movement? Do you believe that such elevated levels are sustainable or could there be a cool off anytime soon? Is it a good time to look out for some OMCs which are any ways cheaper. Deepak Shenoy: OMCs have always been cheap. For one, they are cheap because they do not have any meaningful pricing power. The last few years have been good for them because they have been able to buy crude at whatever price and their retail prices to you and me have been the same more or less for the last three years. We have had no real meaningful inflation or deflation in the fuel prices at the pump for three years now. The crude itself was at $140 in 2008. It is at $70 now, half that price. We are talking of an increase from some $60 odd to some $70 odd, which is not meaningful. From a perspective of whether India can handle this? It is fine. We are okay with everything. What will happen is margins will change for even the OMCs. The overall margins from the refining end will go down a little bit. They get expanded margins or contracted margins on the retail front. So, they are very volatile from that perspective and nobody values them meaningfully. The problem really is that we have great RoEs at certain times, but terrible RoEs at times when we cannot control the prices and the government wants us to take the hit rather than reducing excise duties when crude prices go up. So, I would not meaningfully try to bet long-term on any of these stocks right now, other than short-term momentum bursts. I do not meaningfully see this as a long-term kind of growth-oriented strategy. However, crude prices at an absolute level, are not meaningfully high and most Indian inflation that is imported from the crude basket is slowly starting to change because our mix of vehicles is starting to change, our domestic petrol and diesel prices are more or less stable. Even with geopolitical tension, we have not had any meaningful change in input prices for a lot of raw materials that are based on crude as well. So, I do not see this as a huge thing. Of course, if the prices go beyond $100, $120, then we have bigger problems. You Might Also Like: ICRA forecasts small dip in GDP growth at 6.2 per cent in 2025-26
Time of India
3 days ago
- Business
- Time of India
IT sector poised for earnings surprise in FY26-27 on reviving tech spend: Christy Mathai
"Combination of these factors we are fairly positive on the EPS trajectory going ahead and this environment is very good for the private capex to grow as well because you have had interest rate cuts. The corporates can borrow cheaper. At present, they have significant cash on their books. But given the tariff uncertainty especially with respect to Trump and so on and so forth, there is some issues on that front," says Christy Mathai , Quantum AMC. Give us a sense of how you are positioning your portfolio amid all the geopolitical uncertainty we are seeing right now. How much of it is deployed? How much are you sitting in terms of cash? Christy Mathai: So, clearly this economic backdrop is pretty conducive compared to what it was, let us say, about three or six months back. What we have seen is the government is really pushing the pedal on growth and we have some indication of it as we look at the 4Q GDP numbers as well. Also, the inflation is clearly moderating and we do not think the current geopolitical issues would really change that materially unless the crude were to go really up which we do not foresee in a normal case scenario and against this backdrop, what we have seen is RBI is infusing liquidity and frontloaded quite a bit of interest rate cuts, so this should propel some sort of earnings growth going ahead, the CRR cut of 100 basis points was particularly positive, it has a multiplier impact on the economy because the lending increases assuming the bank do not park it in G-Secs and they start lending again. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang Undo So, combination of these factors we are fairly positive on the EPS trajectory going ahead and this environment is very good for the private capex to grow as well because you have had interest rate cuts. The corporates can borrow cheaper. At present, they have significant cash on their books. But given the tariff uncertainty especially with respect to Trump and so on and so forth, there is some issues on that front. But broadly, we think all the signs are right for the earnings growth to slowly pick up. Our concerns chiefly is on the valuations, given the 10% or more rally that we have seen in the past couple of months, valuation is the only concern for us and hence possibly, we are not looking at a great set of returns one-year or two-year out. But apart from that broadly earnings trajectory should be positive. Live Events But any new sector where you believe the earnings momentum can really take the sector higher from the current levels because a lot of sector churning is already underway. We have seen the runup in financials. Other than that, of late, it is the IT, select healthcare counters that are making a comeback. Christy Mathai: So, in terms of earnings, possibly where things can look up from our sense is purely looking at the IT pack. We have had possibly very near-term rally, so to say in it, but what we are looking at is most of the FY26 numbers have been dramatically cut, it is possibly in the vicinity of maybe 3% to 5% growth which possibly the managements are guiding, but we think this number at least maybe FY26-27 could be much better owing to the fact that the technology spends possibly can come back because we are sitting over a three years of absolutely no IT spends especially on the services part by the major banks in US or manufacturing sector. So, there is a possibility of that picking up, plus the margins also can expand given some of the cost levers that most of the IT players have in hand. So, we think you that could be a possible place where there could be earnings surprise as we move ahead. But broadly, if you were to just think about the consumption theme also, where we are invested through autos primarily which is also a play on interest rate cut and there could be better credit growth in that particular sector, which is at present not happening, so some of these two-wheeler volumes especially in the mass segment which have been hit by inflation for a long time which is now moderating can be a surprise going ahead. While we are talking about consumption, let us talk about an ancillary that is cement in a way. Give us a sense on where you are seeing cement as a sector moving ahead because we have seen benign raw material on the other hand, you have the monsoon overhang, so that seasonality is coming into play. Where do you see the cement sector headed now? Christy Mathai: So, we are invested in cement sector as a whole through one of the companies which is more contained to a specific geographic location where the price hike in the recent past has been good. But see over the course of the year you will have a usual seasonality play out, typically monsoon season you will see some demand moderation which picks up as you go ahead in the month of October or towards the Diwali, so that is the usual seasonality. The issue last year was one of a kind because you have had significant demand moderation along with fierce competitiveness because a lot of large players who have sort of consolidated were pushing up the volumes in through some of their acquired entities, so that was what is depressing the prices to a four-year or five-year low. Now, we see that improving which is sort of a big positive for the sector as a whole. Monsoon seasonality, it usually happens, so there is nothing concerning as such and the government capex and slowly the demand recovery in, let us say, the housing segment should be a key driver as you look at the cement stocks. We did touch upon select sectors there and also you did share your outlook on the earnings front, but if I have to ask you top three sectors where you are most bullish on which one those will be and the three sectors you believe will be languishing for some time from now to participate in the rally for Indian markets. Christy Mathai: So, clearly where we have large allocation are clearly the banks, financials which is not very different from when you look at an index perspective. But the point is here we think until now if you were to look at the whole people visualising the rate cut cycle, they were expecting an extended rate cut cycle, but with the stance change and the commentary that you hear looks like there will not be further rate cuts so what you will have there is a one or two, maybe three quarter impact on NIMs, but CRR cut is positive, so that is on the extreme near term in terms of what will happen. But otherwise, we think the credit growth should normalise ahead. IT is at 9%, sub-9% at the moment and the deposit challenges are slowly going away. So, you should see that credit growth pick up as you go through the year, possibly in the second half, so 12-13% is what we think the long-term on credit growth has been for a very long period of time, we do not see that change, and within that the private players would have their play with a slightly higher growth rates, so that remains a pocket which is very attractive to us and reasonably valued in our view. The other sector as I said was it and some bit in consumption which is especially the auto pack with primarily play on two wheelers, so that is broadly our sectors where we are reasonably positive on. We have picked up on some of the financial plays as well, something like an insurance which we have added in the recent past that also looks pretty attractive when you were to really think about long-term growth because there is significant protection gap as we see it in the life insurance space and the valuations are not so expensive. The pocket where we are not so convinced about is again this is primarily driven by valuations. You just look at some of the cap goods names, some of the names which are driven by order book especially dependent on how the government spend would be, those are the pockets where there could be room for disappointment going ahead in a sense and some of the capital market linked themes where there could be impact in one of these years, we cannot really pinpoint which year it would be. So, these would be places where we would be a little bit wary off, but by and large positive.
Time of India
3 days ago
- Business
- Time of India
Israeli data security platform Coralogix raises $115 million
Israeli data security platform Coralogix has raised $115 million (about Rs 992 crore) in a series E funding round led by NewView Capital and plans to deploy a significant chunk of the capital in India. The company plans to increase its market share, especially in compliance-intensive and fast-scaling sectors like BFSI, IT & Telecom, Logistics , and EdTech, a company statement said. "A significant portion of this capital will be deployed in India, which stands among its top three markets globally. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang Undo "As part of this investment, Coralogix will significantly expand its office in Gurugram, and also accelerate hiring in Bengaluru and Mumbai towards actively building out engineering, R&D, and customer success teams. Over the next five years, the company expects to create hundreds of high-value tech jobs in roles such as AI and data science, cloud security, customer engineering, and enterprise sales," it said. Coralogix's Indian portfolio includes customers such as Postman, Jupiter Money, Meesho, BookMyShow, BharatPe, CoinDCX, Razorpay and Delhivery . Live Events Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The funding round, which values the Tel Aviv-headquartered firm at over USD 1 billion, also saw participation from the Canada Pension Plan Investment Board (CPPIB) and NextEquity.
Time of India
3 days ago
- Time of India
'Happy to be alive': UP groom relieved as bride elopes with lover before honeymoon, says at least I'm not dead like Raja Raghuvanshi
A newly‑married woman in Uttar Pradesh left her husband for her lover less than a month after the ceremony, and both families agreed to end the marriage without a legal fight. The woman, 20, married Sunil, 23, in Budaun district on 17 May. After nine days at her in‑laws' home she went to her parents' house and, 10 days later, disappeared with her alleged lover. Sunil filed a missing‑person report, but the bride arrived at Bisauli police station on Monday and said she wanted to live with the other man, police said. Families return wedding gifts and part ways Officers at Bisauli police station arranged a settlement in which both families handed back jewellery and household items given at the wedding. Neither side asked for further police action, Station House Officer Harendra Singh said. Husband says he is 'happy' life was not ruined 'I had planned to take her to Nainital for our honeymoon. But if she wants to be with her lover, I'm happy too. At least I'm glad I didn't end up like Raja Raghuvanshi . Now all three of us are happy, she found love, and my life didn't get ruined,' Sunil told reporters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Undo Sunil's sister‑in‑law Radha added, 'She stayed with us for just eight days. After she left, she ran away with her lover from the same village. We only asked for our gifts to be returned, and the matter is now settled.' Police confirm no further action 'The bride insisted she wanted to live with her lover. After all items were exchanged and documented, she left the police station with him. The groom's family returned home. No further legal action has been requested,' SHO Singh said. Live Events Murder case in Indore cited Sunil referred to the recent killing of Indore businessman Raja Raghuvanshi, who was murdered on his honeymoon in Meghalaya on 23 May. Police found his body on 2 June, and later arrested his wife Sonam, her alleged boyfriend and three hired killers. The case has sparked online debate about trust and safety in relationships. Raja Raghuvanshi Murder Case The decomposed body of 28-year-old Indore businessman Raja Raghuvanshi was discovered on June 2 in a gorge near the Wei Sawdong parking area in the Sohra-Cherrapunji region of Meghalaya's East Khasi Hills. He had been missing for eight days along with his wife while on their honeymoon in the northeastern state. Following the recovery of the body, Meghalaya Police formed a Special Investigation Team (SIT), shifted the direction of the probe, and arrested all five suspects linked to the case. The accused, including Raja's wife Sonam, were produced before the District and Sessions Court in Shillong on June 11. The court remanded them to police custody for eight days. (Inputs from PTI)
