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Sunil Subramaniam on why India is the place to bet on
Sunil Subramaniam, MD & CEO, Sundaram Mutual, says he “would tend to be underweight on external oriented sectors. This includes metals, energy and even IT to that extent. We believe that the growth story of the world is at least a couple of years away in terms of the world booming back to growth. It is going to be an extended slowdown. False alarms will keep coming. We would rather stay cautious on the side lines.”
What will happen to global sectors? Metal is a bet on China. IT is a bet on the US. Manufacturing is a bet on Europe. What happens there?
Globally we are not very positive on what is happening in the US GDP data and all seems to keep surprising us. But if you look at the credit cycle that is happening there, people are revolving credit like there is no tomorrow. There is a slowdown in jobs. So, we believe that a slowdown is inevitable. Now, between a hard landing and soft landing, one could have probability factors but we do not think that there is a growth story in the world yet.
We believe that the world is going to go through an extended period of slowdown. Europe will suffer a little more. So, we would tend to be underweight on external oriented sectors. This includes metals, energy and even IT to that extent. We believe that the growth story of the world is at least a couple of years away in terms of the world booming back to growth. It is going to be an extended slowdown. False alarms will keep coming. We would rather stay cautious on the side lines.
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How chronic illness became a starting point for artistic alchemy for Koshy Brahmatmaj
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21.05 / 09:47
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FPIs exit Korea & Taiwan: Is India ready for the flow rotation?
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PI Industries’ weak core business keeps investors on edge
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Forensic audits support corporate-fraud probes and IBC cases but still lack enforceable standards
Subscribe to enjoy similar stories.Forensic audits have gained significance in today’s world of business as they serve as a useful tool for commercial lenders to investigate fraud by borrowers and/or identify other deep-seated financial irregularities. Forensic auditors are also employed by resolution professionals to report on preferential, undervalued, fraudulent and extortionate (‘PUFE’) transactions for adjudication under India’s Insolvency and Bankruptcy Code (IBC). While there is no single universal definition, several globally recognized organizations have provided widely accepted definitions (and norms) of forensic auditing.
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Subscribe to enjoy similar stories.MUMBAI: India’s listed electronics manufacturers are under pressure to defend profitability as the mobile-phone assembly boom slows, prompting a shift towards higher-value industrial electronics.Investors remained jittery through the last fiscal, driven by concerns that slowing consumer sentiment could weigh on the rapid growth that electronics manufacturing services (EMS) firms have delivered so far.In an interview with Mint, Jasbir Singh Gujral, managing director of Syrma SGS Technology Ltd, India’s second-largest listed EMS firm, said, “We’re increasingly looking to capture a larger chunk of contracts from defence, aerospace and med-tech verticals, all of which represent opportunities for original design manufacturing, and also bring significantly higher margins. We’ve already started this transition, and we plan to do more of it this fiscal.”Beyond mobile phones and laptops, EMS firms are expanding into smart metres for electricity boards, aerospace and defence subsystems, railway safety instrumentation, printed circuit boards and display assemblies, and medical devices deployed in hospitals.India’s annual mobile phone shipments have remained subdued since the covid-19 pandemic, with industry estimates pointing to a single-digit decline this calendar year from 152 million smartphones shipped last year.The margin pressure driving this shift is increasingly visible.In FY26, Syrma SGS reported an operating margin of 7.1%, up 2.3 percentage points.
