Latest news with #SudipBandyopadhyay
Indian Express
7 days ago
- Politics
- Indian Express
Mamata to feature on TMC's July 21 rally posters
TMC has decided that the image of Chief Minister and party supremo Mamata Banerjee will feature on all official posters for the July 21 Martyrs' Day rally. The party's state leadership, during a meeting at the party's Bhabanipur office on Saturday said that they will design the poster for the July 21 rally and send it to every district committees. It, further, directed that the party should follow the poster design across the state. The poster which has already been published in social media only features Mamata Banerjee's face. Senior TMC MP Sudip Bandyopadhyay said, 'The poster for July 21 rally contains only Mamata Banerjee's photo. Abhishek Banerjee himself said his photo should not be there as he was not part of the original movement in 1993,' adding, '…The tradition will continue this year also. '
Time of India
14-06-2025
- Politics
- Time of India
TMC ignores Sudip ‘requirement' remark
Kolkata: Trinamool Kolkata North MP Sudip Bandyopadhyay on Saturday said that he would convene the party's north Kolkata core committee meeting "whenever (he felt) it was required". Reacting to this, TMC spokesperson Kunal Ghosh said, "I cannot speak on what has been said. The core committee members may speak on it." In May, TMC removed the MP from north Kolkata president's post and tasked decision-making to a nine-member core committee. Bandyopadhyay was made the party's north Kolkata chairperson. The core committee comprises Atin Ghosh, Jibon Saha, Nayana Bandyopadhyay, Paresh Paul, Shashi Panja, Supti Pandey, Swapan Samaddar, Swarna Kamal Saha and Vivek Gupta. Bandyopadhyay's reply was to a question as to when a meeting of the core committee would be called. In the run-up to the 2024 Lok Sabha polls, TMC's north Kolkata unit was troubled by dissent against Bandyopadhyay. It led to the defection of then-MLA Tapas Roy. While TMC was successful in handling the dissent and scripting Bandyopadhyay's record fourth win from the LS seat, the veteran neta's role — or the lack of it — raised eyebrows as the party battled against the protests following the RG Kar rape and murder. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Economic Times
04-06-2025
- Business
- Economic Times
Result season was better than expected; BFSI beneficiary on multiple fronts: Krishna Sanghavi
Tired of too many ads? Remove Ads Also Read: Sudip Bandyopadhyay flags valuation risks in defence stocks after Mazagon Dock miss Tired of too many ads? Remove Ads , Chief Investment Officer – Equity,, says Indian companies reported better-than-expected earnings. Growth is spread across various sectors. Energy companies saw a combined earnings growth of 7-8%. BFSI and commodity sectors performed well. Divergence exists within sectors, with some companies growing rapidly. BFSI benefits from double-digit nominal GDP growth and strong credit demand. Increased domestic savings are boosting capital markets and related businesses in clarity is something not only India but a lot of global economies and market participants are awaiting. That will clearly help. Maybe it lays down a nice road map for India to further increase its manufacturing capabilities in terms of ability to supply from here to global markets, mainly the US. Let us not forget the US is the largest consumer in the world, and to an extent, any comfort, any small window opening up for Indian players to offer their products to US customers can clearly there might be some challenges on the tariff front. On the reverse side, some Indian industries might have some incremental competition coming up from reduced tariffs, if at all. So tariff is clearly one part and the other part remains how global capital market flows play out especially with FPIs moving money across markets, whether you call it developed markets or emerging markets on one front and within those DMs or EMs, how each country shapes up on valuation/incremental growth on the growth part, yes, India is placed nicely with 6.5% GDP growth rate for FY25. It is more likely to be in a similar range for FY26 based on current estimates. A nice double digit nominal growth rate on the back of real GDP shows the economy is broadly intact and all we need is some sort of clarity, maybe a little bit more are right, the result season was better than expected and the muted expectations clearly help in judging the output as better or maybe worse. For a change, we are having a better results season and the nice part is really well spread across. In fact, if you look at Energy index, there is 7-8% earning growth as a combined basket and profits is broadly spread across BFSI as well as commodity aggregate basket of oil and gas, metal, cement on one side or the resource consumers which is the entire non-BFSI, non-commodity piece, on the interesting observation from the sectoral mix is that it is quite divergent. Within the same sector, some companies are growing at 15-20% and some are really lagging. So, that is a company or a stock specific earning trajectory always remains relevant in Indian markets because there are a large number of companies to evaluate and the economy is doing what it is doing. So, always find some winners, some people leading the economy and the earning BFSI stands out as a nice beneficiary on multiple fronts. The core hypothesis remains intact as long as we have nominal GDP growth in double digits, the lending piece in place, credit demand in place and lenders also benefit. India is generating far more income and a lot of this income is available for savings. We also have an advantage for capital account convertibility which allows this money to be retained in India for domestic savings, so that helps the capital market piece, maybe the asset management company, the broking businesses, wealth management business because finally, that money comes back to Indian financial markets in whichever shape and form for BFSI is some sort of a beneficiary on this sectoral front.
Economic Times
02-06-2025
- Business
- Economic Times
Sudip Bandyopadhyay flags valuation risks in defence stocks after Mazagon Dock miss
"Look at companies like UltraTech Cement. They have performed very well, much better than market expectations. Yes, monsoon is not a time for cement, but in spite of that market is appreciating the performance of some of these large companies," says Sudip Bandyopadhyay, Group Chairman, Inditrade Capital. ADVERTISEMENT Give us a sense of what you have made of the earning season gone by. Now that has finally come to an end for us and when I take a look at the earnings scorecard, you have only seven Nifty companies so far that have performed below earnings estimates at least compared to the ET Now estimates with 13 above, 20 in line, and 9 mixed coming in. So, it has not been all that bad like the street was estimating before the beginning of the season. Give us a roundup on what you think has happened when it comes to the earnings and your takes on that. Sudip Bandyopadhyay: Well, you are absolutely right, compared to Q3, Q4 earnings were much-much better and as you rightly said, this was much better than even what was being expected. So, we should take note of the fact that companies have performed by and large better than market expectations. Let us look at cement. This is one sector which has performed uniformly well. Look at some of the FMCG companies, they have performed well. Some of the construction and engineering companies, they have done well. And also, I would say if you want to specify companies, look at how some of the other names in the building material and textiles, even technology, some of the technology companies have performed better than what was being expected. So, by and large, it has been a good set of numbers. Amongst the recently announced numbers, some of the defence companies have disappointed and we have been saying for quite some time that the defence sector valuation is at such level that margin of error is very-very limited. So, a Mazagon Dock slipping on margin definitely will attract negative attention of the market and that is what getting played out now. Q4 numbers of company like a Mazagon Dock was not good, it was a darling of the market. On the other hand, look at the wind energy company Suzlon, they have performed much better than what was being expected. The management commentary was very bullish and very positive. So, market has been rewarding it. Look at companies like UltraTech Cement. They have performed very well, much better than market expectations. Yes, monsoon is not a time for cement, but in spite of that market is appreciating the performance of some of these large companies. I was coming to you for this because Mazagon Dock reported its quarter four numbers and, of course, the fall in the stock price post the results. I wanted to ask, is really the party over for all the defence companies right now because they had run up quite a bit and, of course, after operation Sindoor they were running up on very high valuations and now that the results have been a disappointment, is the party really over in the defence space? Sudip Bandyopadhyay: Well, the party was carrying on for much more than what was warranted. You see, the whole issue is the valuation. There is absolutely no doubt in the fact that some of these companies are very good companies and there is absolutely no problem in they are gaining in more and more orders, the order book is full, and they will keep getting orders. The challenge comes in execution. Look at Hindustan Aeronautics, HAL. Look at the order book, it is bulging and it is continuously increasing. The management is also very confident of new orders coming in. But look at the guidance on topline revenue growth, about 8%. Now, in 8% topline growth cannot command the kind of valuation it is commanding, that is where the challenge is. So, we have to be very cognisant of the fact that you are looking at a rich valuation and if somebody is getting in at these valuations, they should be aiming for a long haul. You should not expect quick returns in this segment. The only company where I expect a re-rating in the near future is Bharat Electronics. This is a fantastic company. Electronics in defence is the key thing nowadays. ADVERTISEMENT They cater to air force, army, navy, all three wings of the armed forces. Adjacencies like metro network, they have got into, export market has opened up, strong balance sheet, good execution. Last year, the order inflow was below expectations, but that is going to get corrected surely this year. So, some kind of re-rating at some stage during the current fiscal is possible and investors can look at buying into BEL even at current levels. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
21-05-2025
- Business
- Time of India
Market caution justified after sharp rally, investors should stay vigilant: Sudip Bandyopadhyay
"Things have moved up quite a bit in the recent past over the last one week and a bit of profit booking, bit of caution was warranted and that is what pretty much we are getting kind of displayed today. Some amount of concern is building definitely around the trade deal and the 2nd June by when that 90-day period runs out is also around the corner," says Sudip Bandyopadhyay , Group Chairman, Inditrade Capital . And I believe now all eyes and all attention is shifted towards what will be the likelihood of the trade deal between India and the United States. We know that Piyush Goyal is in the United States for a four-day meeting and trying to carve out some trade deal with the United States. There are a lot of news or reports floating around what sort of a deal they could actually cut with the United States. But what is your take? Now, what are the markets waiting for? You think it is just a point of consolidation because too much has happened or too much has transpired in the last one month. Sudip Bandyopadhyay: Oh, absolutely, right. More than the trade deal, of course, there are uncertainties and speculation around what the trade deal can or cannot do with bit of consolidation, profit booking, or bit of a risk aversion, whatever terminology we may choose, it is pretty much on the back of that. Things have moved up quite a bit in the recent past over the last one week and a bit of profit booking, bit of caution was warranted and that is what pretty much we are getting kind of displayed today. Some amount of concern is building definitely around the trade deal and the 2nd June by when that 90-day period runs out is also around the corner. So, there is a race against time to get the deals done and many countries are at it. So, we will have to wait and watch because US policymaking currently is inherently very volatile and we will have to be bracing for some amount of turbulence going ahead again. So, it is better to be bit cautious, better to be bit guarded as we approach 2nd June. Also, want to get your sense on the top Nifty loser today and that is Eternal. It has been consolidating over the course of the day but now it is lower by 4%. Yesterday also the stock was cracking in trade, but today we have news flow that the board has received shareholder approval to cap the foreign holding at 49.5%. Remember almost a month ago when this announcement first came into the market when the shareholder approval was pending, this was seen in a very positive light and today when this approval has come in there has been a sharp cut on the stock of 4%. This also means that there could be a potential loss of flows coming in from global indices, for example the MSCI index. Help us understand why this divergence in terms of the stock move that we have seen for Eternal and what lies ahead fundamentally for the company. Sudip Bandyopadhyay: Fundamentally, if you look at it, they are making a conscious call regarding how they want to run their business. They are keeping the foreign holding below 50%. They will be entitled to do lot many things which a foreign entity which is by definition companies having more than 50% foreign shareholding will not be allowed to do. Live Events So, they have chosen that and they want to operate those dark stores. They want to have inventory with themselves which they want to sell directly. So, these are the things which will probably give them benefit in the long run and their business structure fundamentally will be different from a Zepto or even a Swiggy and that is the distinction they are trying to draw. Yes, it will definitely ensure that the flows do not come the way they will come into a Swiggy or a Zepto when it gets listed, but that a conscious call and it is a conscious call based on the model they are choosing to go ahead with. So, I would not read too much into it. There are business models which are very solid and sound based in the parameters of a domestic company. Again, there are advantages of having foreign inflows into the company. So, we will have to see how things pan out, how they are able to scale up their business. But as things stand today in front of Eternal, their quick commerce business is in the phase of scale up with intense competition and that is eating into the margins. Under these circumstances, they have very clearly said that the margins will be under pressure and market is cognisant of that. So, I would not read too much into today's this correction which is on the back of this fear that foreign inflows will come much lower in Eternal going forward. Yes, that is a fact, but I do not think that will prevent Eternal from performing either in the P&L sense or in the market sense.
