We are very positive on mid and smallcaps as a long-term SIP theme where you invest every year for the next five years. It is not the time for lumpsum investment, S Naren, CIO, ICICI Prudential AMC, talks to Nikunj Dalmia of ET Now.Edited excerpts: This time six months ago, you said a fall was coming, fasten your seatbelts. The fall came on Friday. Do you think this is the beginning of a decline or is it that volatility is back and there is no risk per se? Market is still not cheap. If you look at the market, today we are closer to the all-time high than at a situation where we can say that the market is dirt cheap at this point of time. It is Nifty which is at an all-time high. Small and midcap stocks have corrected, the indices have corrected 25% to 30%. But if you look at the smallcap indices, they have gone up 200% in five years. Obviously, they have corrected 20% from the top but I do not think we are in a phase yet where we can say smallcaps is cheap, put your money in … [Read more...] about Remain cautious; don’t raise equity allocation now: S Naren, ICICI Pru AMC
During the Iraq War, while they were owned by Halliburton, KBR was awarded at least $2.5billion in contracts to construct and run military bases - some of them in secret locations - as part of the US Army’s Logistics Civil Augmentation Program (LOGCAP). … [Read more...] about The Iraq War, private military contractors and ‘dividing the spoils’ – was this the Deep State in action?
As the country gradually eases the lockdown restrictions, a lot of focus is on kickstarting the economy once again, which has taken a severe hit due this pandemic. A DBS Bank report explores what will be India's prioirities for the financial sector in order to revive the economy.Broader economic growthAccording to the report, India’s economy is currently on track to register a net contraction in terms of growth for the first time since the 1980s. Q2 of FY21 is expected to be the trough of this cycle, however, certain sectors such as production & services and consumer discretionary sectors might take a longer time to recover. As we are about to enter the monsoon season, a lot of rests on the agricultural sector to drive the economy on the road to recovery.Health of the financial sectorExpected to be one of the key priorities of the government as a long period of freezing of assets and moratorium on loan repayment comes to an end. Businesses whose ratings were downgraded in … [Read more...] about India’s priorities post the pandemic for the financial sector
Expanding School ChoiceSince day one, DeVos has advocated for charter schools and private school vouchers, which distribute public funds to parents to finance some or all of their children's private school tuition. She backed President Donald Trump's call for a $20 billion school voucher plan, as well as his proposed 2018 budget, released in May, which contained a more than $9 million cut to the Education Department and a $1.4 billion addition for school choice program funding. … [Read more...] about Betsy DeVos’ First Year: Education Experts Grade Trump Pick on Her Promises
The Reserve Bank of India (RBI) is scrutinising foreign direct investment (FDI) in non-banking financial companies (NBFCs) routed through private equity (PE) and venture capital (VC) funds domiciled in Mauritius, and has rejected at least a dozen applications for greenfield investments or acquisitions. … [Read more...] about Why RBI said no to NBFCs with funds from Mauritius