In the past 10 days, two major events — Brexit and Rexit — have created panic in the global and Indian markets. Ashok Wadhwa, Group Chief Executive of Ambit Holdings shares his views with CNBC-TV18 on these events that may have negative global and domestic implications.
In an interview to CNBC-TV18's Udayan Mukherjee & Sonia Shenoy, Madhu Kela, Chief Invst Strategist at Reliance Capital and Ashok Wadhwa, Group CEO at Ambit Holdings gave their expectations on Arun Jaitely's Union Budget and their outlook on the road ahead.
A consortium composed of Brookfield and the Core Infrastructure India Fund Pte Ltd are buying the projects, six of which are operational, said Ambit Holdings, which advised Gammon on the deal.
Ambit Alpha Fund (AAF), an alternate investment fund (AIF), on Wednesday said it has crossed the milestone of Rs 500 crore of assets under management in July, just two years after inception.
AAF was launched in June 2013 by Ambit Investment Advisors. Ambit Alpha Fund, one of the first AIFs launched in India, works on a long-short investment strategy, which is to produce absolute returns taking both long and short positions based on an actively managed portfolio approach.
Wadhwa expects corporate earnings growth to be muted for some time, and sees a 6-7 percent downside in equity benchmarks from current levels.
Ashok Wadhwa, Group CEO, Ambit Holdings Pvt Ltd believes the finance minister may increase service tax rate. If concessions are provided to any sector, then the government should not bring legislations through backdoor. He hopes the finance minister is forthright enough to plan things for a five year period.
Welcoming the steps taken by team Modi, Rajiv Kumar says that he is impressed by the homework the government has done however, he would like to see a bolder, clearer roadmap for the economy.
FM understands the importance of manufacturing on one side and sustaining demand on other side and that is why the reduction on excise duty
CNBC-TV18's Senthil Chengalvarayan caught up with Wadhwa to find out his views on the economy and the road ahead for Indian equities.
According to Ashok Wadhwa, group CEO of Ambit Holdings, poor economic growth might discourage foreign investors from putting money into Indian stocks.
At closing bell, the frontline indices closed with cuts of around 1.5% each. But experts haven‘t given up on the market yet. They are optimistic in the near-term. According to them, the uptrend is still intact.
Speaking to CNBC-TV18, group CEO of Ambit Holdings, Ashok Wadhwa, said that the main aim behind the joint venture with Nikko is to increase the AUMs of their Mauritius unit.
Ashok Wadhwa, chief executive officer, Ambit Holdings, joins CNBC-TV18 to discuss the mood in the market and suggest where to park your money.
The Sensex shut shop at 17,560, with a 53 point gain despite stable global markets. Experts see a new rally starting from August. They also believe that India remains a great market for stock-pickers as its fundamental growth prospects are still extremely strong.
Ashok Wadhwa, Group CEO of Ambit Holdings anticipates one more fall in this market and sees a new market sentiment emerging at the end of this calendar year or post October