Fortune favours only the flexible.
Dear Balbir Singh Sooch,
Good morning! In stock markets, fortune favours only the flexible. Even diehard followers of certain investment philosophies get converted, based on their experiences and changing market dynamics. Today’s edition begins with the story of one such fund manager.
MONEY + MARKETS
Value vs. growth: behind PPFAS MF’s shifting focus
PPFAS Mutual Fund focuses on value investing, offering Indian investors a geographically diversified portfolio. But its fund manager Rajeev Thakkar is in the spotlight for adding Microsoft to his portfolio as a value pick, a stock many find relatively expensive. Has PPFAS moved its focus to growth from value? No, says Thakkar, asserting that value is a misunderstood term globally.
ENERGY
A new solar duty could hurt Make in India
The current safeguard duty on solar-module imports has failed to cheer domestic manufacturing or cut reliance on China. The proposed customs duty is unlikely to help either. Solar panels and cells made in SEZs, which account for half of the domestic production, will become costly, and therefore, uncompetitive against cheap imports.
FINTECH + BFSI
There’s never a dull moment in fintech
Deal activity over the last five months has been broadly on a par with the average monthly fintech funding of the past 17 months. While the US, UK, and India have seen a record number of deals, China, which used to be among the top three globally, has fallen to the fifth place.
Regards,
ET Prime Team