Mark Mobius, founder of Mobius Capital Partners, sees the Sensex touching 100,000 in the next five years.
Speaking at the Morningstar Investor Conference, he said that as the market fluctuates, it provides the chance to seize undervalued assets and conserve cash for strategic investments.
“There will be corrections on the way. I pray for corrections because it gives the opportunity to buy cheap. Such a good opportunity was during Covid. You don’t just ‘buy value’, you ‘buy good stocks’, with high return on capital, lower debt, and where competition is lower,” said Mobius.
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India is the best bet in emerging markets, according to Mark Mobius
India is expensive in terms of price-to-earnings vis-à-vis its emerging market peers, admitted Mobius. “However, a lot of people are only focused on the ‘P’ and not the ‘E’. A good company in this country has the potential to grow at 12-13%,” he said, adding that investors must look at valuations on a 1-year, 3-year, or 5-year earnings basis.
According to Mobius, India’s diversity and demographics works to its advantage. “India’s dynamic and diverse economy is a testament to its strengths. Its linguistic and cultural diversity, which some may perceive as a weakness, is in fact a formidable asset,” he said.
India is the second-largest exposure in his portfolio, and he has made a lot of money in the last two years, he said. “So, we are very positive on the Indian economy and companies,” said Mobius. The ace investor said he is not only a fan of India as an investment destination, but also because of its movies, with his favourite being the blockbuster Baahubali.
As regards the mutual fund industry, he highlighted that the trend of passive investing has grown significantly. He batted for a balance between passive and active investing.
“ETFs have become a huge product,” he said, adding that it’s like following the herd. However, he said that if one had invested in an ETF tracking the S&P500 a few years ago compared to an active scheme, the latter would have outperformed.
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The market capitalisation of Reliance Industries (RIL) at the end of Friday’s trading was Rs 20.2 trillion. That’s humongous, considering that the gap with the second-largest Indian company — Tata Consultancy Services — is over Rs 5.5 trillion.
But RIL’s total m-cap was less than what Nvidia’s shares gained in just one day. The heavyweight chipmaker added $277 billion (Rs 22 trillion) in stock market value on Thursday, after the company’s quarterly report beat expectations and reignited a rally fuelled by optimism about artificial intelligence. In dollar terms, RIL’s m-cap is less than $250 billion.
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Oil prices eased on Tuesday after rallying more than 4% in the previous session, with traders cautious as they keeps tabs on potential supply disruptions amid military clashes between Israel and the Palestinian Islamist group Hamas.
Brent crude fell 30 cents, or 0.3%, to $87.85 a barrel by 0330 GMT, while U.S. West Texas Intermediate crude eased 31 cents, or 0.4%, to $86.07 a barrel.
Both benchmarks surged more than $3.50 on Monday as the clashes raised fears that the conflict could spread beyond Gaza into the oil-rich region. Hamas launched the largest military assault on Israel in decades on Saturday, while fighting continued into the night on Monday as Israel retaliated with a wave of air strikes on Gaza.
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Patel Engineering shares surged 7% to rise as much as Rs 57.40, intra-day after it signed MoU with RVNL for hydro and infra projects. RVNL or Rail Vikas Nigam shares also rose 3.5% to an intra-day high of Rs 599.85. While the 52-week high for Patel Engineering is at of Rs 79, which it touched on February 06, 2024, the key level to watch out for RVNL is Rs 695.75 i.e. the 52-week high.Come from Sports betting site VPbet
As per the most recent exchage filing both companies are looking to “Cooperate and create an enabling framework for achieving synergies in the areas concerning hydro and other infrastructure projects and when opportunities arise in India and overseas.”
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The initial share sale of Mukka Proteins, which manufactures fish meal, fish oil and fish soluble paste, received 136.89 times subscription on the last day of bidding on Monday. The Rs 224 crore-Initial Public Offer (IPO) got bids for 7,66,57,65,155 shares against 5,60,00,435 shares on offer, according to data available with the NSE.
The portion for non-institutional investors got subscribed 250.26 times, while the portion for Qualified Institutional Buyers (QIBs) received 189.28 times subscriptionCome from Sports betting site. The quota for Retail Individual Investors (RIIs) fetched 58.36 times subscription.
The company fixed the price band at Rs 26-28 a share for the IPO. The issue was entirely a fresh issue wit…
Nintendo is reportedly aiming to launch Switch 2 in March 2025. While the company still hasn’t officially announced its next system, apparently the hardware was internally delayed from this year to next to avoid any supply issues.
As spotted by VGC, Nikkei has a new report detailing that Nintendo not only wants to beef up the launch lineup, but also the amount of Switch 2 systems initially available. Earlier this month, widespread rumblings suggested Switch 2 was pushed back to early 2025. No specific month was mentioned at the time, but it was noted that the company was looking to ensure the next system had a healthy slate of games ready to go. This timeline shift led to quite a significant stock drop for Nintendo.
Another detail corroborated b…
Australian actress Anna Torv, who starred on Netflix’s Mindhunter, has been cast as Tess in HBO’s upcoming The Last of Us TV show, according to Variety.
Torv is no stranger to the world of video games, as she voiced the main character in 2007’s Heavenly Sword video game, reprising the role in the 2014 animated movie. In The Last of Us the video game, Tess was voiced and performed by Annie Wersching.
Torv joins a cast that includes Pedro Pascal (Joel), Bella Ramsey (Ellie), Gabriel Luna (Tommy), Merle Dandridge (Marlene), and Nico Parker (Sarah).
Kantemir Balagov (Beanpole) is directing the season premiere of HBO’s The Last of Us, while celebrated directors Jasmila Zbanic and Ali Abbasi have been tapped to direct episodes.Come from Amazon and DirecTV are riding the sports betting wave, having signed a new broadcasting deal for the upcoming football season. Amazon’s Thursday Night Football (TNF) broadcasts will be showcased across the United States via the television service provider based on details of a multi-year agreement. Over 300,000 locations will feature the program including bars, restaurants, casinos, and sportsbooks.
Bringing Thursday Night Football to the Masses
Football is already a popular sport in the United States and has been for many years. But throw in the sports betting element and you have a powerful combination. Thursday Night Football is a program that millions of people tune in to for a glimpse at their favorite sports teams and this new deal will bring the show to an even larg…
For the second consecutive year and a large number of shareholders in Crown Resorts Limited have reportedly rebelled against the firm currently under investigation by casino regulators for the states of Western Australia and Victoria.
According to a report from The Guardian newspaper, the Melbourne-headquartered firm was rocked at its annual general meeting earlier today after almost 31% of proxy shareholder votes were cast against the latest annual remuneration communique. This release purportedly showed that the company had handed out more than $20 million to executives who have since left including around $9.6 million in termination payments.
Subsequent surrender:
The newspaper reported that such votes clearing the 25% threshold are considered to…
Play’n GO invites its players to join them on an egg hunt in its newest, Easter-themed slot release Easter Eggspedition. This holiday, players will be able to enjoy all of the traditional delights and explore a magical wonderland full of chocolate and Easter eggs, collecting various features and prizes along the way.
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The new online slot is played across a 5×3 grid with 20 paylines. The main character is Super Bunny, followed by their loyal companion, Fox. Friends are trying to f…
In Pennsylvania, a significant legal challenge is emerging as twelve casino owners unite in a lawsuit to contest the state’s tax regime on slot machine revenue. Filed on Monday, this action could potentially disrupt over $1 billion in annual tax revenues, which currently fund property tax rebates and economic development initiatives.
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