Podcast
The Core Report
Every Monday to Saturday, tune in as financial journalist and host Govindraj Ethiraj gives you the latest news in business, economy and technology
- Episodes
- 1,037
- Releases
- Daily
- Typical length
- 29 min
- On air since
- 2023
- Latest episode
- 2 hours ago
Episodes
1,037 episodes, newest first
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22 min
#1025 Will Markets Disconnect From Crude Oil Prices?
Episode 1025
Show notes
On Episode 1025 of The Core Report, financial journalist Govindraj Ethiraj talks to Dr Rahul Mirchandani, Chairman & Managing Director at Aries Agro Limited as well as Manisha Kapoor, CEO and Secretary General at Advertising Standards Council of India (ASCI).
SHOW NOTES
(00:00) Stories of the Day
(01:00) Will Markets Disconnect From Crude Oil Prices?
(02:39) Sensex Is Up Near 4,000 Points In 5 Days
(03:11) Gold Demand Is Falling Sharply In India
(04:51) Sulphur Supply Has Improved But Prices Are Still High
(11:11) Indian Data Centres Could See A 5x Jump In Capacity In Next Four Years Driven By Rs 3,00,000 Crore Of Investments
(12:38) Some 60 Of 61 Nutraceutical Company Ads Processed By Ad Body Did Not Hold Up To Their Claims
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35 min
#1024 Festive Spirits And Tax Promises Lift Markets
Episode 1024
Show notes
On Episode 1024 of The Core Report, financial journalist Govindraj Ethiraj talks to Professor Prasanna Tantri, Associate Professor of Finance at the Indian School of Business (ISB); Manoj Mishra, Partner & Tax Controversy Management Leader at Grant Thornton Bharat; and, Michel van Hoey, a senior partner in McKinsey’s Luxembourg office.
SHOW NOTES
(00:00) Stories of the Day
(00:50) Festive Spirits And Tax Promises Lift Markets
(02:52) Why Reliance Stock Prices Jumped On Monday
(03:45) Strong Results Continue To Pour In, As Consumption Stays Strong
(05:42) The Problem With Rising Bank Credit
(18:09) Will The Higher GST Numbers Sustain?
(22:43) Why India Is Now The Hottest Source And Destination For The Global Metals Industry
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28 min
#1023 Oil Markets Brace For Yet Another Tough Week
Episode 1023
Show notes
On Episode 1023 of The Core Report, financial journalist Govindraj Ethiraj talks to Sushil Choksey, Founder & Managing Director at Indus Equity Advisors.
SHOW NOTES
(00:00) Stories of the Day
(05:00) Oil Markets Brace For Yet Another Tough Week
(08:03) AI Trades Are Unwinding, Could India Benefit?
(08:21) World Bank Study Says India Lifted 496 Million People Out Of Poverty Between 2011 And 2023
(09:43) GST Collections Jump 23% In October, Also Thanks To More Imports
(11:12) Why Reliance’s Share Price Is Held Down And What Could Unlock It
Check out The Core's Earnings Tracker
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29 min
#1022 Why Nifty Returns Could Disappoint You For The Next 2 Years | Amar Ambani | Govindraj Ethiraj | The Core Report
Episode 1022
Show notes
Could Nifty returns disappoint over the next two years, even if Indian companies keep growing? In this episode of The Core Report Special Edition, financial journalist Govindraj Ethiraj speaks with Amar Ambani, Executive Director at YES Securities, about the Indian stock market outlook, opportunities beyond the Nifty 50 and what investors need to consider before committing money for the long term.
Amar Ambani explains why he expects single-digit Nifty returns over the next one to two years despite seeing signs of an oversold market. He discusses how foreign investor selling, elevated bond yields and competition for global capital could constrain large-cap stocks. For investors willing to look three to five years ahead, however, he believes valuations offer room for selective buying.
The conversation explores why established businesses such as Asian Paints, Reliance Industries and Jubilant FoodWorks can face pressure on their stock prices for different reasons. From rising competition and investment cycles to weak sentiment, Ambani examines why a strong business does not automatically make an attractive investment. He also explains why he expects stock picking in mid-cap and small-cap companies to matter more when benchmark returns are modest.
Where could opportunities emerge? Amar Ambani discusses banking stocks, consumer durables, power, defence and quick-service restaurants. He examines the recovery in appliance demand, the outlook for consumer spending and how AI data centres and electric vehicles could increase electricity demand. The discussion also considers whether competition among global AI companies could bring renewed attention to Indian businesses with earnings growth and healthy returns on capital.
What could derail that outlook? Amar Ambani identifies rupee depreciation, sustained foreign portfolio outflows, elevated crude oil prices and geopolitical uncertainty as risks. He explains why investors should retain sufficient liquidity, avoid borrowing against shares to increase exposure and approach equity investing with a five-year horizon.
At the heart of the conversation is a question for anyone concerned about Nifty returns. Should investors wait for a clear market recovery, or selectively buy before a trigger emerges? Amar Ambani shares how he evaluates sector growth, promoter quality, corporate governance, operating cash flow, return on capital and valuations when looking for long-term investment opportunities.
Chapters:
00:57 Amar Ambani on India's Stock Market Outlook
01:53 Why Indian Equities Are Looking Oversold
06:43 Why Leading Stocks Are Trading at Multi-Year Lows
09:17 Can Large-Cap Stocks Deliver Strong Returns Again?
09:34 Why the Next Two Years Could Be a Stock Picker's Market
11:57 Can Domestic Investors Offset Foreign Selling?
13:41 Where Are the Opportunities in Mid and Small Caps?
13:50 Why Banks and Consumer Durables Look Attractive
15:33 Power, Defence and the Next Investment Opportunities
17:15 India's Consumer Demand and Spending Outlook
19:20 Corporate Earnings and the Growth Outlook
20:56 Are Strong Fundamentals Enough to Lift Stock Prices?
21:34 Geopolitics, Crude Oil and Risks to Indian Markets
23:11 Rupee Depreciation and Foreign Capital Flows
24:32 How Should Investors Build Their Portfolios?
25:46 Why Investors Need a Three-to-Five-Year Horizon
26:45 What Makes a Company Worth Investing In?
27:04 How to Evaluate Promoters, Cash Flows and Valuations
29:31 Final Outlook: Selective Buying in an Oversold Market
Watch the full conversation for a deeper understanding of the Nifty 50 outlook, stock selection and long-term investing in India. Subscribe to The Core Report for conversations on business, the Indian economy and financial markets with Govindraj Ethiraj.
#Nifty50 #IndianStockMarket #Investing #TheCoreReport #TheCore
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45 min
#1021 Are Investors Ignoring India’s Best Value Stocks? Sanjeev Prasad | Govindraj Ethiraj | The Core Report
Episode 1021
Show notes
Are investors ignoring India’s best value stocks while chasing the next big opportunity? In this episode of The Core Report Weekend Edition, financial journalist Govindraj Ethiraj speaks with Sanjeev Prasad, Managing Director & Co-Head at Kotak Institutional Equities, about value investing, Indian stock market valuations and why some large-cap stocks are struggling to attract attention.Sanjeev Prasad explains why he believes investors have become too focused on predicting stock prices. He examines how retail savings, mutual fund inflows and momentum investing influence market behaviour, often overshadowing a more important question. Is the business worth what you are paying for it?The conversation explores the divide between large-cap, mid-cap and small-cap stocks. Sanjeev Prasad discusses why newer manufacturing, defence, electronics and consumer technology businesses command investor attention, while mature industries generate less excitement. He explains why stronger earnings growth matters, but does not justify buying at any valuation.Using HDFC Bank and ONGC as examples, Sanjeev Prasad examines why he sees overlooked value in established companies. He discusses how concerns about management, government intervention and past performance can weigh on sentiment. His approach to identifying value stocks starts with comparing the share price with the business’s earnings potential.Are IPO investors assessing companies or chasing listing gains? Sanjeev Prasad explores IPO valuations, offers for sale and how much fresh capital supports new investment. He also discusses why foreign investors may participate in India’s IPO market while selling shares in the secondary market.What could restore confidence in Indian equities? The discussion covers crude oil prices, corporate earnings, capital gains taxation and foreign portfolio investment. Sanjeev Prasad also questions whether concerns about AI and Indian IT services are overshadowing opportunities across the wider economy.At the heart of the conversation is a bigger question. Are investors buying businesses for their long-term value, or hoping someone else will pay a higher price? Sanjeev Prasad explains why looking beyond market sentiment remains central to his investment approach.Chapters:01:14 Sanjeev Prasad on Indian Equities02:02 Why Investors Are Focusing on Price Instead of Value04:21 Euphoria in Mid and Small Caps, Despair in Large Caps06:06 How Retail Money Is Driving Market Behaviour08:34 Are Indian Stock Market Valuations Attractive Again?10:40 Understanding IPOs and Secondary Market Flows15:31 Why Smaller IPOs Are Delivering Higher Returns17:23 The Risks Behind Small Cap IPO Investing18:23 Why Value Matters More Than Stock Price19:27 Are IPO Proceeds Funding India's Future Growth?22:16 IPO Pricing and Foreign Investor Flows23:59 The Next Wave of India's Manufacturing Companies25:34 Why Smaller Companies Are Growing Faster29:04 India's Large Caps and the Challenge of Mature Industries30:35 Why Investors Are Ignoring ONGC and HDFC Bank33:15 The Risks of Buying Overpriced Stocks33:54 A Bull and Bear Market at the Same Time35:03 Corporate Confidence and India's Industrial Credit Growth36:20 How PLI Schemes Are Driving Manufacturing Investment37:19 What Could Bring Investors Back to Indian Markets?38:47 Earnings Recovery, Capital Gains Tax and Foreign Investors42:26 Is India's Dependence on IT Overstated?44:01 The Long Term Outlook for Indian EquitiesWatch the full conversation for a deeper understanding of value investing, Indian stock market valuations and long-term investment decisions. Subscribe to The Core for conversations on business, the Indian economy and financial markets with Govindraj Ethiraj.#ValueInvesting #IndianStockMarket #SanjeevPrasad #TheCoreReport
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25 min
#1020 Oil Markets Worry About The Longer Term
Episode 1020
Show notes
On Episode 1020 of The Core Report, financial journalist Govindraj Ethiraj talks to Madhavi Arora, Chief Economist at Emkay Global. We also feature an excerpt from our recent Special Edition featuring Amit Agarwal, CEO at EAAA India Alternatives, part of the Edelweiss Group.
SHOW NOTES
(00:00) Stories of the Day
(00:41) Oil Markets Worry About The Longer Term
(02:03) Indian Markets Have A Good Run
(06:12) IHCL And AAHL Announce A Multi-Hotel Operating Agreement
(07:45) The Perils Of Trying To Fight The Dollar
(15:19) How Boring Investments In Roads And Solar Power Could Pay Off
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28 min
#1019 All Signs Continue To Point To A Long War In West Asia
Episode 1019
Show notes
On Episode 1019 of The Core Report, financial journalist Govindraj Ethiraj talks to Piyush Pandey, Senior Vice President, Institutional Equity Research (Lead Analyst) - IT, Telecom, Internet and Power at Centrum India as well as Masaharu Morita, Founder and Program Director at NURA - AI Health Screening Centre.
SHOW NOTES
(00:00) Stories of the Day
(00:47) All Signs Continue To Point To A Long War In West Asia
(02:24) More Indians Are Investing Overseas, And New Funds Are Keeping Up
(06:03) Jio Platforms Delivers A Solid Listing, A Status Check On India’s Telecom Sector
(14:27) Why More Indians Went Back To Cinema Halls Last Quarter
(15:19) How A 92 Year Old Japanese Camera And Film Company Is Innovating Diagnostic Healthcare In India
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29 min
#1018 Diesel Is The New AI For India
Episode 1018
Show notes
On Episode 1018 of The Core Report, financial journalist Govindraj Ethiraj talks to Jaspreet Bindra, Co-founder and CEO at AI&Beyond as well as Matthew Morgan, Partner and the Chief Operating Officer at Eisner Advisory Group LLC.
SHOW NOTES
(00:00) Stories of the Day
(01:00) Oil Prices Stay Unrelentingly High
(01:42) Diesel Is The New AI For India As Govt Refiners To Boost Production By Over 16 Million Tonnes Next Year
(02:55) Is India Exhausting More Ammunition Than Necessary In Trying To Defend The Rupee Against The Dollar
(05:41) Microsoft’s Mass Move To Reduce Headcount By Over 25% And Anthropic’s Mega IPO, What Ties Them Together?
(16:08) Are GCCs Still Expanding In India And Where?
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19 min
#1017 More World Leaders Join The Hunt For Gasoline
Episode 1017
Show notes
On Episode 1017 of The Core Report, financial journalist Govindraj Ethiraj talks to Chanakya Chakravarty, Global Real Estate Investor and Capital Strategist.
SHOW NOTES
(00:00) Stories of the Day
(00:50) More World Leaders Join The Hunt For Gasoline
(04:34) Neoclouds Are Under Pressure On Wall Street, Opening Up Fresh Chink In AI Armour
(05:53) Uday Kotak’s Warning On The Cost Of FCNR Deposits
(07:24) Domestic Institutional Capital In Real Estate Has Overtaken Foreign Capital For The First Time. What Does That Mean?
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27 min
#1016 Middle East Braces For Highest Uncertainty Since War Began
Episode 1016
Show notes
On Episode 1016 of The Core Report, financial journalist Govindraj Ethiraj talks to Amit Mittal, Director at AeroIntellect Aviation as well as Saket Mehra, Partner and Automotive & EV Industry Leader at Grant Thornton Bharat.
SHOW NOTES
(00:00) The Take
(06:17) Middle East Braces For Highest Uncertainty Since War Began As Oil Prices Keep Pace
(08:20) TCS Stock, A Bright Spot In A Gloomy Market
(09:20) Domestic Air Traffic Is Falling, How Will That Affect Airlines And Aviation?
(16:35) The Story Of PHP
(18:01) Why There Are A Rash Of Automotive M&A Deals
(25:40) Why Netflix Is In Trouble
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41 min
#1015 Paytm, Blinkit And Meesho: Is India Underestimating Their Growth? | Govindraj Ethiraj | The Core Report
Episode 1015
Show notes
Are Paytm, Blinkit and Meesho building more earnings potential than investors recognise? In this episode of The Core Report Special Edition, Govindraj Ethiraj speaks with Nirav Sheth, CEO of Institutional Equities at Emkay Global, about platform businesses, stock market valuations and India’s next growth opportunities.
Sheth explains why reported profits and losses may not tell the full story of a digital business. Through Paytm’s merchant network, Meesho’s customer reach and Blinkit’s dark store economics, he examines how customer habits, network effects and expansion costs shape long-term profitability. When does spending to acquire customers create a lasting competitive advantage?
The discussion explores why Paytm, Blinkit and Meesho require a different analytical approach from traditional consumer companies. Sheth discusses unit economics, cash flow potential and how quick commerce is changing competition for established retailers.
Beyond digital platforms, Sheth examines electronics manufacturing services, power infrastructure and opportunities over the next decade. He discusses Dixon and India’s manufacturing ecosystem, alongside potential demand for electricity and transformers from AI data centres. He also explains his concerns about Indian IT services as artificial intelligence changes how work gets done.
Why are foreign investors selling Indian stocks while domestic mutual fund inflows remain strong? Sheth connects foreign portfolio outflows with bond yields, earnings growth, valuations and rupee depreciation. He considers how new Nifty 50 constituents could reshape the index and what might bring foreign capital back.
Where will India’s next market leaders emerge? From regional retailers and recycling businesses to electronics manufacturers, Sheth explores how smaller companies challenge larger rivals and shares how his investing framework has evolved.
The conversation also separates enthusiasm for AI technology from confidence in AI stock valuations. Could cheaper models and changing infrastructure needs challenge today’s investment assumptions? Sheth considers how a reversal in the global AI trade might affect capital flows into India, while explaining why identifying a promising business is only one part of assessing an investment.
Chapters:
01:35 Bond Yields, Valuations and Nifty Earnings Growth
03:38 Where Smart Money Could Go Next
05:53 Why Foreign Investors Are Selling Indian Equities
06:39 AI, US Bond Yields and the Rupee's Challenges
09:36 Domestic Mutual Fund Inflows vs FII Outflows
11:09 Why Nirav Sheth Remains Bullish on the Nifty
12:00 The Investment Case for New-Age Platform Companies
17:10 Blinkit, Zepto and the Economics of Disruption
20:15 India's Electronics Manufacturing Opportunity
22:27 How the Nifty's Next Market Leaders Could Change
23:59 Banking Outlook and AI Risks to Indian IT
25:24 How AI Could Disrupt White-Collar Jobs
28:11 AI-Powered Investment Research for Retail Investors
29:52 Data Centres and India's Next Power Boom
35:02 Could an AI Correction Bring Foreign Investors Back?
38:29 How Smaller Indian Companies Are Challenging Market Leaders
41:06 Nirav Sheth's Approach to Stock Selection
Watch the full conversation for a deeper understanding of platform businesses, earnings growth and the Indian stock market. Subscribe to The Core Report for conversations on business, the Indian economy and financial markets with Govindraj Ethiraj.
Is India underestimating the growth of Paytm, Blinkit and Meesho? Watch Govindraj Ethiraj and Emkay Global’s Nirav Sheth on The Core Report explore platform businesses, earnings growth, stock market valuations and quick commerce. Could AI and electronics manufacturing shape India’s next market leaders? Subscribe for insights into the Indian stock market and Indian economy.
#Paytm #Blinkit #Meesho #IndianStockMarket #TheCoreReport #TheCore
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43 min
#1014 Why Foreign Investors Are Selling Indian Stocks | Ajit Dayal | Govindraj Ethiraj | The Core Report
Episode 1014
Show notes
Why are foreign investors selling Indian stocks when India’s economy continues to grow? The answer goes beyond corporate earnings to the returns investors keep after taxes, currency losses and the risks they take.In this episode of The Core Report Weekend Edition, financial journalist Govindraj Ethiraj speaks with Ajit Dayal, Founder of Quantum Advisors Private Limited, about foreign portfolio investment, Indian stock market valuations and what could bring global capital back to India.Dayal explains how expensive valuations can make Indian equities less attractive when investors compare potential returns with opportunities elsewhere. A stock market gain in rupees can look very different in US dollars, particularly after accounting for currency depreciation and capital gains tax.The discussion examines why domestic investors continue putting money into mutual funds and SIPs while foreign investors have been pulling back. Dayal traces India’s market development since the 1991 economic reforms and explains why a stronger investment ecosystem does not automatically guarantee foreign inflows.Corporate governance is another concern. Dayal describes Quantum’s integrity assessment of companies and why the treatment of minority shareholders matters to international investors. Govindraj questions how these concerns should be weighed against businesses delivering resilient earnings and benefiting from domestic demand.The conversation also explores the gap between GDP growth and stock market returns. Drawing comparisons between India and China, Dayal explains why investors need to examine how economic growth translates into shareholder returns, rather than relying on the growth story alone.Beyond company performance, they discuss how US tariffs, trade uncertainty, oil prices and geopolitical developments influence foreign investment decisions. Dayal questions the trade-offs involved in using a weaker rupee to support exports when currency losses can discourage overseas investors.Index funds and passive investing come under scrutiny too. Dayal discusses changes in index constituents, transaction costs and why he believes comparisons between actively managed funds and benchmark indices need closer examination.The global AI investment boom adds another dimension. Dayal distinguishes between artificial intelligence as a lasting economic shift and the risks of choosing individual AI stocks. He also explains why he remains optimistic about India’s consumer demand and sees opportunities despite the difficult market environment.What would make foreign investors look at Indian stocks differently, and which changes are within India’s control?Watch the full conversation for insights into FPI outflows, the Sensex and Nifty, rupee depreciation, capital gains tax, corporate governance, index funds & India’s investment outlook.Chapters01:09 When Will Indian Markets Regain Momentum?02:14 India's Changing Share of Global GDP05:13 How the 1991 Reforms Transformed Indian Markets07:15 Rising Retail Investment and Foreign Capital Outflows10:04 Coalition Governments and India's GDP Growth11:55 India vs China: GDP Growth and Stock Market Returns14:48 How Capital Gains Tax and Rupee Depreciation Impact Returns17:03 Why Corporate Governance Matters to Foreign Investors19:55 What Triggered the Foreign Investor Selloff?22:49 RBI's Currency Policy & Foreign Capital Flows24:53 US Tariffs and India's Trade Deal Uncertainty27:57 Market Corrections and India's Investment Opportunity30:41 Ajit Dayal's 30% Governance Concern in the MSCI India Index35:48 Why China Plus One Went to Vietnam37:01 The Hidden Costs of Passive Investing in India39:39 Banking, IT and Changing Index Weights41:54 Is AI a Bubble? The Long-Term Investment Outlook43:29 What India Must Fix to Attract Global Capital#IndianStockMarket #FPIOutflows #TheCoreReport
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28 min
#1013 Markets Dip Again As Oil Prices Cross $112
Episode 1013
Show notes
On Episode 1013 of The Core Report, financial journalist Govindraj Ethiraj talks to Dinesh Kanabar, Founder, Chairman & CEO of Dhruva Advisors. We also feature an excerpt from our recent Special Edition featuring Jitendra Gohil, CFA, CIO – Listed Equities at Bajaj Alternate Asset Management Limited.
SHOW NOTES
(00:00) Stories of the Day
(01:00) When Will Fuel Prices Rise At The Pump?
(03:25) Markets Dip Again As Oil Prices Cross $112
(03:56) China’s Markets Enter Bear Territory
(05:39) How Effective Is GIFT City As An Investment Channel?
(18:30) Will India Inc Pull The Trigger On Higher Capex And Growth?
For more of our coverage check out thecore.in
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33 min
#1012 More Oil Flowing From Middle East Than Before War
Episode 1012
Show notes
On Episode 1012 of The Core Report, financial journalist Govindraj Ethiraj talks to Sachin Sawrikar, Managing Partner at Artha Bharat Investment Managers. We also feature an excerpt from our recent episode of our show How India’s Economy Works hosted by Journalist and Author Puja Mehra and featuring Ajay Srivastava, Founder at the Global Trade Research Initiative (GTRI).
SHOW NOTES
(00:00) Stories of the Day
(00:50) More Oil Flowing From Middle East Than Before War
(02:30) The Perils Of Buying Venezuelan Crude And Rubio’s Diesel Purchase Pitch To India
(04:00) The Rupee Is On Stronger Ground On Fresh Flows Including For Jio IPO
(05:42) Power Shortages Are Leading To Cut Backs In Supplies In Gujarat
(19:25) Why Some Funds Are Moving Out Of GIFT City
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31 min
#1011 Oil Prices Are In Dangerous Territory
Episode 1011
Show notes
On Episode 1011 of The Core Report, financial journalist Govindraj Ethiraj talks to Nishant Arora, Senior Vice President of Marketing at Netcore Cloud as well as Nakul Saxena, Business Head - Housing Finance, Kotak Mahindra Bank.
SHOW NOTES
(00:00) Stories of the Day
(00:50) Oil Prices Are In Dangerous Territory
(01:26) Rubio Comes To Reliance
(04:47) The Last Man Standing In AI Stocks
(06:30) Smartphone Sales Crash As Expected
(08:41) How Are Indians Buying Online This Festive Season?
(19:53) Why Younger Indians Are Buying Houses, Contrary To Popular Perception
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38 min
#1010 Before You Sell Your Mutual Funds, Watch This | Govindraj Ethiraj | The Core Report
Episode 1010
Show notes
Should you sell your mutual funds when returns disappoint, or give your investments more time? In this episode of The Core Report Special Edition, financial journalist Govindraj Ethiraj speaks with Swarup Mohanty, Vice Chairman & CEO of Mirae Asset Investment Managers (INDIA), about weak mutual fund returns, stock market uncertainty and what investors should consider before deciding to exit.
Swarup Mohanty argues that disappointing returns can reveal a gap between investors’ expectations and their tolerance for risk. He explains why he believes corporate earnings and valuations have improved despite the difficult market environment. Before you sell your mutual funds, he suggests examining what makes you uncomfortable and whether your investments still align with your financial goals.
The conversation explores Mirae Asset’s investment approach, its reluctance to chase expensive stocks and why it resisted launching a small-cap fund without the right manager. Mohanty also discusses how new listings have broadened India’s investment opportunities and why he believes the Nifty 500 offers a fuller picture of the Indian stock market than the Nifty 50.
Looking beyond large-cap, mid-cap and small-cap categories, Swarup Mohanty examines thematic investing in manufacturing, healthcare, financial services, consumption and energy. He explains how these businesses are evolving and where AI adoption could influence competitiveness. The discussion also explores overseas diversification and the opportunity to own global businesses that are not readily available in India.
How should investors combine active mutual funds, ETFs, debt and gold? Mohanty discusses portfolio diversification, the role of gold ETFs and why higher return expectations require a closer look at risk. He explains why retirement planning should begin with the amount an investor needs and the time available, rather than a race to find the highest-performing fund.
At the heart of the conversation is a bigger question. Before you sell your mutual funds, are you responding to a change in your financial needs or frustration with recent performance? Mohanty shares why he sees no immediate trigger for a market turnaround, while making the case for goal-based investing, thoughtful asset allocation and reviewing selling decisions as carefully as buying decisions.
Chapters:
01:40 Why Investors Chase Past Returns
04:01 Corporate Earnings, Valuations and Market Fundamentals
06:30 Mirae Asset's Long-Term Investment Strategy in India
10:02 Why Mirae Asset Resisted the Small-Cap Rally
11:47 Inside Mirae Asset's Equity, Debt and ETF Portfolio
13:54 India's IPO Boom and the Expanding Mid-Cap Market
16:50 Why the Nifty 50 No Longer Represents the Broader Market
18:51 The Disconnect Between Market Performance and Economic Growth
20:42 Investing Beyond Large-, Mid- and Small-Caps
22:14 Healthcare, Innovation and Emerging Investment Themes
23:42 India's Shift Towards Discretionary Consumption
25:25 The Case for International Equity Diversification
27:11 Mirae Asset's Global Investment Footprint
29:46 Active vs Passive Investing: Building a Balanced Portfolio
33:27 Gold ETFs and Portfolio Diversification
35:02 Market Outlook: What to Expect Over the Next Six Months
36:30 Retirement Planning and the Case for Multi-Asset Investing
Watch the full conversation for a deeper understanding of mutual fund returns, long-term investing and how to align your portfolio with your financial goals. Subscribe to The Core Report for conversations on business, the Indian economy and financial markets with Govindraj Ethiraj.
#MutualFunds #StockMarket #LongTermInvesting #RetirementPlanning #TheCoreReport #TheCore
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30 min
#1009 Indian IT Stocks Are Beating Chip Stocks
Episode 1009
Show notes
On Episode 1009 of The Core Report, financial journalist Govindraj Ethiraj talks to Manas Majumdar, Partner and Leader - Oil & Gas, Fuels & Resources at PWC India as well as Ketan Dalal, Tax Expert and Founder at Katalyst Advisors.
SHOW NOTES
(00:00) The Take
(04:41) Indian IT Stocks Are Beating Chip Stocks
(08:05) Why India Is Now A Swing Country In Petroleum Refining
(19:55) US Once Again Allows India To Buy Oil From Russia
(20:17) How Foreign Investors Face A Double Whammy On Their Capital Gains Tax
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30 min
#1008 How Chowgule Is Building Ships in India for Europe
Episode 1008
Show notes
In this premiere episode of Legacy Forward, financial journalist Govindraj Ethiraj speaks with Arjun Chowgule, MD of Chowgule Group, a century-old business group that has lived through industrial shifts, family transitions, global competition and now, the green transition.Chowgule’s shipbuilding journey began with barges used to transport iron ore along Goa’s rivers. Today, the business builds hybrid vessels for Scandinavian clients. When Arjun took on the shipbuilding business in 2021, the pandemic had strained cash flows and the family had undergone a restructuring. Arjun discusses acquiring the former Bharati Shipyard facility in Mangalore, bringing the shipyard back into operation, investing in its facilities and delivering its first vessel under the new ownership.Behind this manufacturing story is a more personal question. How do you take an inherited business forward while respecting the people who built it?Arjun reflects on family business succession, the cost of prolonged disputes and why he sees stewardship as a duty to employees, customers and future generations. His experience offers a perspective on Indian manufacturing exports, global competition and the decisions that shape a family-owned enterprise.Chapters 01:10 Inside Chowgule’s Goa shipyard02:50 From mining logistics to shipbuilding07:09 Professional management and generational change08:19 Taking charge and winning hybrid vessel orders11:46 Reviving the Mangalore shipyard12:50 Family businesses and customer trust15:48 Meeting overseas technical requirements17:37 Delivering ships during COVID19:19 A new generation takes the helm20:47 Stewardship, ownership and responsibility23:29 Lessons from family business disputes25:15 Succession and the family’s role in business27:12 Building on the work of earlier generationsLegacy Forward is a series that dives deep into how India’s family businesses actually work, the structures, the legacies, and the tensions that come with passing the torch. Produced by The Core, in association with CII - FBN.Producer: ManjooshaEditor: Mandar Sawant#IndianShipbuilding #Chowgule #FamilyBusiness
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40 min
#1007 Can Indian Railways Turn Old Diesel Engines Into Export Winners? | Govindraj Ethiraj | The Core Report
Episode 1007
Show notes
Indian Railways could turn more than 500 old diesel engines into a new export opportunity as electrification changes the role of its diesel fleet.
In this episode of The Core Report Weekend Edition, Financial Journalist Govindraj Ethiraj speaks with Rahul Mithal, Chairman and Managing Director of RITES LTD, about diesel locomotive exports, India’s infrastructure investment and the business of finding new markets for existing railway assets.According to Mithal, more than 500 diesel locomotives have around 15 to 20 years of working life remaining. Refurbishing and adapting these engines for overseas networks could generate revenue for Indian Railways while giving buyers locomotives at around two-thirds the cost of new ones.RITES is targeting opportunities across 11 African countries that use Cape gauge railway networks. Mithal says its first two converted locomotives are ready for shipment, with overseas trials expected to help establish the opportunity. The company has also secured an order for a standard gauge locomotive for Australia.But turning old diesel engines into export winners involves more than changing the wheels. Mithal explains how engineers adapt underframes, bogies, wiring and control systems to make Indian locomotives work on different railway gauges. The commercial potential depends on translating that engineering into reliable products and repeat orders.The conversation also examines why India’s infrastructure projects run over time and budget. Mithal argues that spending more time and resources on Detailed Project Reports could reduce disputes, improve cost estimates and prevent capital from getting locked up in delayed projects.Artificial intelligence could help improve both planning and quality control. RITES is developing a tool using its archive of more than 5,000 project reports and has introduced VISTAR, an AI inspection system for rails during manufacturing.Beyond diesel locomotive exports, Mithal discusses plans to develop Vande Bharat trains for standard gauge export markets and pursue electric locomotive export orders. He also explains how the India–UAE virtual trade corridor could improve cargo information exchange, customs clearance and port efficiency.Could engines that India needs less become valuable assets in overseas markets?Watch the full conversation for insights into Indian Railways, RITES, locomotive refurbishment, railway exports, infrastructure planning, Vande Bharat, artificial intelligence, the IMEC corridor and India’s logistics economy.Chapters01:05 RITES' Role in India's Infrastructure Development02:59 Diversifying Beyond Indian Railways04:12 Order Growth and Global Expansion05:48 High-Speed Rail, Metro and Infrastructure Projects07:36 Why Infrastructure Projects Face Cost Overruns09:49 Challenges in Detailed Project Planning11:26 Using AI to Improve Project Reports13:51 The Economic Cost of Poor Infrastructure Planning15:30 Improving Project Design and Execution17:10 Converting Indian Locomotives for Export19:43 The Engineering Behind Locomotive Conversion21:40 Understanding India's Railway Gauge Network22:39 AI, Rail Safety and Network Modernisation25:25 Upgrading Tracks for Higher-Speed Trains27:56 Electric Locomotives and Vande Bharat Exports29:23 The Shift Towards Multimodal Infrastructure Corridors31:19 India-UAE Trade Corridor and the MAITRI Initiative33:21 How Digital Trade Corridors Can Speed Up Cargo Movement35:31 Balancing Road and Rail Freight37:14 Vande Bharat and the Future of Intercity Travel39:26 Why India Needs Integrated Transport PlanningCan Indian Railways turn old diesel engines into export winners? Govindraj Ethiraj speaks with RITES CMD Rahul Mithal on The Core about diesel locomotive exports, locomotive refurbishment, Vande Bharat exports and artificial intelligence in infrastructure planning. Could engines India needs less unlock new markets abroad?#IndianRailways #RITES #VandeBharat #RailwayExports
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32 min
#1006 Why Indian Markets Jumped A 1,000 Points On Thursday
Episode 1006
Show notes
On Episode 1006 of The Core Report, financial journalist Govindraj Ethiraj talks to Amit Goel, Co-Founder & Chief Global Strategist at PACE 360 as well as Bhavesh Jain, Managing Director & CEO at TransUnion CIBIL.
SHOW NOTES
(00:00) Stories of the Day
(00:50) Why Indian Markets Jumped A 1,000 Points On Thursday
(05:35) Could There Be More Cross Border Energy Deals Between India And The US?
(16:05) How Oil Transport Costs Are Spiking And Now In Focus
(18:33) Direct Tax Collections Are Up, So Are Refunds
(19:39) A Quick Glance At India’s Credit Health With TransUnion CIBIL
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