“Any organisation’s first preference would be to find a middle ground and some organisations are already looking at setting up hubs closer to where most of the talent is. However, no employer likes to be blackmailed into a situation or cornered into a situation. So, if the resistance is beyond reasonable, the likes of TCS may make choices and decisions which are market leading.”

"We regularly track and monitor all valuation parameters of our stocks and execute partial/complete profit booking based on these parameters. But if we believe the growth story is intact and stock has more potential to grow, we stick with our view and continue to hold the stock to generate multifold returns for our clients."

“After Q1 results, most analysts have downgraded earnings by roughly about 8% to 9% for FY23. As a result, everything has culminated into a reverse value versus earnings outlook for the IT space. This is going to be a correction in the IT pack. From a longer term standpoint, once a capitulation happens, it will create value but we need to wait for the right valuation before getting very bullish about the sector.”

“Right now that concern is not there but the world is very volatile. Suddenly, some geopolitical event happens and oil shoots up to $110-120-130 then there is no option for the country to take steps. So at this point of time, we are not worried but any sharp increase in oil and G-Sec yields inching up towards maybe 7.75%, closer to 8% would be a wake-up call.”

"Several variables like recovery in the CAPEX cycle, and China+1 amongst others have the potential to catapult India’s GDP growth by an additional 1-2% pa. for a sustained period. This is quite possible as several other countries like Japan, South Korea and China have also witnessed this for 1-2 decades. Currently, all the stars seem aligned for a promising outlook for India over the next decade."

In the short term, the demand-supply equation is determined by foreign investors (FIIs), retail investors, and fresh issuances of companies. Because of the correction in the market, issuances went down.

“We are looking at something like 41 million tonnes of sucrose and our domestic consumption is anything between 27 and 27.5 million tonnes. Diversion to ethanol directly as part of juice could be another 5 million tonnes. We would still need to export and that could be anything between 8 to 8.5 million tonnes.

“In a rising interest rate scenario with good credit growth, I would prefer banks over NBFCs. Other spaces like insurance, asset management companies, brokerage, tend to be different. Insurance is more stable because there is visibility of first year premiums, renewal premiums and the income of the existing book. AMCs and brokerage houses tend to be a little more cyclical.”