Indian stocks have lost almost $500 billion in market value in the past month, with MSCI Inc.’s index for the nation marking the worst start to a year since 2016. The rupee has fallen to successive record lows against the US dollar, the worst performance in Asia.
Manisha Girotra, CEO, Moelis India and former CEO, UBS India, shares the journey, challenges and lessons from her stellar three-decade career in a free-wheeling and hard-hitting conversation with Moneycontrol's Ashwin Mohan.
"There is a high level of interest in Indian assets on the part of private equity and sovereign wealth funds. India is in a unique spot, so we can expect an increase in inbound acquisitions," says the head of UBS Global Banking, India
Indian equity markets reached record levels in 2020 and I expect them to remain in a sweet spot in 2021 although it will be difficult to replicate the ECM volumes for the previous year.
Newly appointed Odedra has spent more than 20 years with UBS in various capacities. He was previously based in London.
In terms of earnings, UBS is of the view that a broad-based earnings cycle recovery over the next one to three years is clearly pushed out, with a more material near-term downside.
Gautam Chhaochharia, head of India research at UBS Securities is bullish on Info Edge in the e-commerce space and likes the auto anciallary space as a whole. He feels auto ancillaries may be a better way to play the auto sector for now.
Vishal Goyal, executive director-leading banks and finance research, UBS India says it is better to avoid banks that don‘t fit capital infusion requirements.
Vishal Goyal, Executive Director-Leading Banks & Financial Research, UBS India, expects private banks to have earnings similar to Q2.
In an interview to CNBC-TV18, Gautam Chhaochharia, Head of India Research of UBS India speaks about Reserve Bank of India (RBI) and markets.
Gautam Chhaochharia, Head of India Strategy at UBS India suggests staying away from banking stocks. "For the banks to come back and re-rate in a hurry will need government action which is still reactive and incremental as of now," he adds.
Gautam Chhaochharia of UBS India feels that Titan Industries looks less expensive than it was earlier.
the fact that Finance Minister on Thursday reiterated that the reform process is not completely over because of pre-election environment is a key for India's bottom-up story, said said Gautam Chhaochharia of UBS India.
From a medium-term point of view, Apollo Tyres is reasonably valued even at current levels, says Gautam Chhaochharia of UBS India.
Gautam Chhaochharia, Head of Mid-Cap Research, UBS India is positive on Hindustan Unilever (HUL). The stock is likely to have a floor around current levels and upside will depend on the way we see visibility on new brands being introduced, he adds.
Gautam Chhaochharia, Head of Mid-Cap Research, UBS India is positive on the telecom space.
Union Budget 2013 has largely met its key objective of fiscal consolidation, but it was an over hyped event so it punctured some expectations of foreign investors, says Gautam Chhaochharia, head of mid-cap research, UBS India.
Sell Tata Motors, says Gautam Chhaochharia, UBS India.
Jaiprakash Associates is attractively valued at this point, says Gautam Chhaochharia, UBS India.
Gautam Chhaochharia, UBS India is bullish on Cairn India. The stock looks very, very attractive and finally seeing some visibility coming through in terms of production ramp up ahead.
One can prefer ICICI Bank and SBI among the bigger ones, says Gautam Chhaochharia, UBS India.
Gautam Chhaochharia, UBS India is neutral on Infosys.
Avoid HPCL and BPCL, says Gautam Chhaochharia, UBS India.
Prefer Grasim Industries in the cement space, says Gautam Chhaochharia, UBS India.
Gautam Chhaochharia, UBS India is overweight on private banks.