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High stock market volatility ahead of Budget 2021; Sanjiv Bhasin has these sectors in focus | IIFL INTERVIEW

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Indian share markets will witness extreme volatility in this week just ahead of Union Budget 2021, with the January F&O contracts expiring on January 28, 2021, says Sanjiv Bhasin, Director, IIFL Securities Ltd. Besides Budget, Sanjiv Bhasin says that factors such as global liquidity, rise in bonds or US Dollar, and stimulus announcement from US President Joe Biden, are among few factors which may impact Indian share markets in the coming days. In an interview with Surbhi Jain of Financial Express Online, Sanjiv Bhasin said there are a lot of opportunities in a few sectors for retail investors. For the first time investors, he advises to keep a systematic investment plan (SIP) as market valuations are quite high. The COVID-19 pandemic offered once in a lifetime opportunity to the investors. Here are edited excerpts:

With Sensex, Nifty making new highs, where do you see the indices going in the run-up to the Union Budget 2021?

What tax changes markets expect from the Budget this year?

Well, nothing much, just some tinkering with fiscal numbers and some extra on sin tax etc. The market would look for some relief being given to insurance as Covid reinsurance could be much more widespread than ever and the government can make it attractive to be insured in the future. The market would be hurt if any cess on Covid is levied as consumers do not need any more taxes.

What would you advise first-time stock market investors? Which sectors look attractive?

Kindly do a SIP as valuations are expensive and you may never be able to time the markets. This pandemic was once in a lifetime opportunity which came in March and those who seized it would be laughing their way to the bank. Either way, if you were invested or doing a SIP through mutual funds or directly then you would have by default participated in the fall.

Apart from Budget, what are the key risks and triggers in markets?

Global liquidity is calling the shots and if any rise in bonds or US Dollar comes suddenly then the repatriation of flows can cause a sudden correction, secondly, markets are looking forward to a big stimulus from the new President-elect which if falls short could again see a correction.

With new COVID strain cases, do you see that impacting the markets in any way?

Global liquidity and money printing at the lowest interest rates are fuelling the markets which are looking beyond the new strain as the vaccine makes up for the damage over the next few months. Also, India stands out as we have avoided the strain with herd immunity enabling the resumption of normal activity much faster than the rest of the world.

Has the COVID vaccine rollout changed the sentiments? Is Indian economy in recovery mode?

It has improved the sentiment and the psychological aspect as the individual is now more receptive to acceptance of the virus and learned to handle it better with keeping necessary precautions. India has been one of the better performers as we have seen herd immunity with correct precautions act in less affliction to the new strain which has been avoided.

Where do you see opportunities for retail investors in markets right now?

Materials as in steel and cement, pharma and IT along with consumption as auto numbers are most positive.

Colgate-Palmolive Q2 Results: Profit rises 22.3% on-year to Rs 340.05 crore, revenue up 6%; Rs 22 dividend declared

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Colgate-Palmolive (India) Limited on Thursday posted profit for the quarter ended September 2023 at Rs 340.05 crore, up 22.3 per cent in comparison to Rs 278.02 crore during the same period last year, surpassing estimates. It posted revenue from operations at Rs 1471.09 crore, up 6 per cent as against Rs 1387.48 crore during the second quarter of FY23. The company EBITDA stood at Rs 482.2 crore. EBITDA margins continued to improve, up 120 bps vs. sequential quarter and up 340 bps vs. prior year quarter driven by pricing and efficiencies. According to a CNBC TV18 poll, Colgate-Palmolive was expected to post Q2 profit at Rs 332 crore and revenue at Rs 1502 crore.

Colgate-Palmolive reported a 6.1 per cent increase in net sales for the second quarter, reaching Rs 1462.4 crore as of September 30, 2023, compared to the same period in the previous year. Domestic growth was reported at 6.6 per cent for the quarter.

“We continue to be happy with our momentum and continue to be focussed on strengthening our brand portfolio and delivering superior products to consumers. In this quarter, we have doubled down on the Colgate Strong Teeth relaunch, expanding reach & availability. This has been further supported by the excellent performance of Colgate Max Fresh, which has been relaunched with the best, proprietary freshness technology. We have also restaged our largest toothbrush franchise, Colgate Zig Zag with a superior mix that focuses on its core equity of deep, interdental cleaning. Our domestic growth remains strong, registering a 6.6 per cent increase over the previous year quarter, with our toothpaste segment witnessing higher single-digit growth,” said Prabha Narasimhan, Managing Director & CEO, Colgate-Palmolive (India) Limited.

Furthermore, the company board also said that consequent to the appointment of Niraj Kumar, Business Lead – Bangladesh, Nepal and Sri Lanka, as the Managing Director of Colgate-Palmolive ACI Bangladesh Pvt Ltd, he ceases to be a member of the leadership team of the Company effective October 26, 2023.

Niraj Kumar is a seasoned professional with more than 2 decades of experience in the FMCG Industry. He is currently acting as a Business Lead – Bangladesh, Nepal and Sri Lanka for Colgate-Palmolive (India). He joined Colgate in 2007 as Customer development manager, where he worked on turnaround of business leading to market leader in struggling markets, the company said. He also led North and East India business as Customer development team leader successfully with strong business and share growth.