Saurabh Mukherjea on 3 ways 2024 will be different from 2023

economictimes.indiatimes.com:

Saurabh Mukherjea, Founder, Marcellus Investment Managers, says the first big difference is we are optimistic that the private sector capex story revs into high gear. Private sector capex really has not done much in India since FY19. All the heavy lifting has been done by government capex, which has roughly tripled by our estimates since FY19. Private sector capex plays are very different from public sector capex plays and therefore in our portfolio, we have names such as RSI, RHI Magnesita, which is a play on the steel demand in India continuing to run up and all the steel plants in India needing more capacity to be installed. Similarly, Grindwell Norton is a play on private sector capex as an abrasive provider. The public sector capex beneficiaries would be cement, EPC companies.
What about some of the compounders in the portfolio, the likes of Trent as well, fifth Tata Group company to top the Rs 1 lakh crore market cap? How do you see that as a performer along with Astral?
Saurabh Mukherjea: In retail, what has happened in Indian apparel retailing is very interesting. It has become a very demanding market because of the rise of online and how online and social media have shaped the tastes of the Indian consumers. If you are a run-of-the-mill apparel retailer in India, not on the cutting edge of fashion, you do not have sharp pricing, I think you are finding life very difficult and we will see that in the Q3 results.

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None of them in apparel, retailers are finding the