The continued rise in leverage among retail and high-net-worth investors through derivatives and margin trading facilities (MTFs) remains a key concern for the market, S Naren, Executive Director and CIO of ICICI Prudential AMC said at ICICI Securities India Investor Conference 2026.
While there has been significant discussion around the sustainability of mutual fund inflows and SIP contributions, Naren believes leverage in the derivatives market poses a much bigger risk than any moderation in mutual fund investments.
“The level of leverage in the derivatives market and the amount of margin trading funding taken from brokers have continued to increase. That is a concern because leverage among retail and HNI investors is rising,” he said.
According to Naren, even if SIP inflows witness a marginal slowdown, it is unlikely to pose a significant challenge as mutual fund investors are typically long-term participants who invest without leverage. In contrast, derivative traders often operate with borrowed money, increasing risks during periods of market volatility.
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He noted that margin trading facility exposure is currently at its highest-ever level, highlighting the growing appetite for leveraged market participation. Against this backdrop, Naren sees an interesting contrarian opportunity emerging in segments that have witnessed relentless foreign institutional investor (FII) selling over the last 20 months.”If you look for something contrarian today, it would be stocks where FIIs have been persistent sellers over the last 20 months,” he said.
Among these, private sector banks stand out as one of the most attractive investment opportunities for long-term investors, according to Naren.
He believes private banks could emerge as the best-performing sector over the next three years. One key reason is the significant reduction in foreign ownership resulting from sustained FII selling.
“FIIs used to have nearly 40% of their India portfolios allocated to private banks. Whenever they wanted to reduce exposure to India, private banks became the natural source of liquidity,” Naren explained.
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As a result, FIIs have consistently sold private banking stocks over the last 20 months, creating a valuation opportunity for long-term investors willing to take a contrarian view.
Beyond equities, Naren remains optimistic about India’s debt markets following recent policy measures aimed at improving foreign investor participation.
According to him, two critical factors that influence foreign investment in debt markets—currency stability and taxation—have both moved decisively in India’s favour.
“In debt, there are two factors: currency and taxation. Both have turned very positive, which significantly improves India’s attractiveness,” he said.
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Naren believes these developments improve India’s chances of gaining inclusion in global bond indices such as the Bloomberg Global Aggregate Bond Index and have contributed to a highly optimistic mood in the domestic debt market.
He pointed out that bond yields have moved well below policy rates in several segments, particularly in three-year corporate bonds, creating attractive investment opportunities.
However, Naren cautioned that the global fixed-income environment today is very different from what prevailed during the 2013 taper tantrum period.
At that time, interest rates across much of the developed world were close to zero, making India’s bond yields highly attractive to international investors. Today, investors can earn meaningful returns even in developed-market government bonds.
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“US 30-year government bonds are yielding around 5%, and even Japanese government bond yields are at levels not seen for decades,” he said.
As a result, the yield differential between India and developed markets has narrowed significantly compared with 2013.
While India has strengthened its macroeconomic position considerably over the past decade, global investors now have a wider range of attractive fixed-income options available to them.
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Naren also highlighted the relatively small size of foreign portfolio investor exposure to Indian debt compared with equities.
According to him, FPI debt investments remain only a fraction of FPI equity allocations. In contrast, foreign investors had built substantial equity positions in India during a period when domestic valuations traded at significant premiums to other emerging markets.
He noted that Indian equities became exceptionally expensive after 2023 as domestic investors increasingly channelled savings into equities rather than debt.
“Valuations in India reached levels that were several times higher than markets like China. In such an environment, FIIs logically chose to reduce equity exposure,” he said.
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At the same time, India has historically adopted a cautious approach towards opening its debt markets to foreign investors.
Naren believes this measured approach has helped preserve financial stability while gradually increasing foreign participation in government securities.
With improving debt market fundamentals, supportive policy measures, and attractive opportunities emerging in sectors overlooked by foreign investors, Naren sees both fixed income and select equity segments offering compelling opportunities for long-term investors.
Commenting on the recent correction in Kospi, Naren said that it is a healthy correction but even now I don’t think on market cap terms it is cheap.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Stellantis is recalling more than 1 million Jeep Wrangler and Gladiator vehicles over a defect that could spark a fire, urging owners to park their vehicles outdoors and away from buildings until a remedy is available.
The recall covers an estimated 1,076,999 model-year 2021–2025 Jeep Wrangler and Gladiator vehicles. In the affected vehicles, an electrical issue involving the wiring for the electric hydraulic power steering pump could cause nearby materials to overheat and potentially ignite, as first reported by the Detroit Free Press and The Detroit News.
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“In rare circumstances, this may cause combustible materials to overheat, potentially leading to a vehicle fire,” Stellantis spokesperson Frank Matyok said in a statement to FOX Business.
Matyok added that FCA US, the automaker’s U.S. operating unit, is advising owners to park affected vehicles away from structures and other vehicles “out of an abundance of caution.”
Jeep Wrangler vehicles at a dealership in Mississauga, Ontario, Canada, on Friday, Oct. 17, 2025. (Laura Proctor/Bloomberg via Getty Images / Getty Images)
The automaker said it has not yet finalized a repair but expects a remedy to be available by July.
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Once the fix is ready, affected owners will be notified by mail and instructed on how to schedule repairs at their local dealership.
“Affected customers will be notified by first class mail when they can schedule service. FCA US is working diligently to accelerate remedy availability and anticipates a solution no later than July,” Matyok said.
A Jeep Gladiator pickup truck is seen at a dealership in Glenview, Illinois, on March 3, 2021. (Xinhua/Joel Lerner via Getty Images / Getty Images)
Depending on the vehicle, repairs may include inspection and replacement of the wiring harness and electric hydraulic power steering pump.
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The recall also extends to an estimated 106,258 vehicles in Canada, 23,704 in Mexico and 124,297 in markets outside North America, according to Maytok.
The latest recall adds to a string of safety issues that have affected Jeep models in recent years.
In late May, Stellantis recalled 419,035 Jeep Grand Cherokee and Grand Cherokee L SUVs over a software defect that could delay side airbag deployment during a crash, increasing the risk of injury, according to The Detroit News.
Mission Produce, Inc. (AVO) Q2 2026 Earnings Call June 8, 2026 5:00 PM EDT
Company Participants
Andrew Pearson John Pawlowski – President & CEO Bryan Giles – Chief Financial Officer
Conference Call Participants
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Pooran Sharma – Stephens Inc., Research Division Gerard Sweeney – ROTH Capital Partners, LLC, Research Division Mark Smith – Lake Street Capital Markets, LLC, Research Division
Presentation
Operator
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Good afternoon and welcome to the Mission Produce Fiscal Second Quarter 2026 Conference Call. [Operator Instructions] Please also note, today’s event is being recorded.
At this time, I’d like to turn the conference call over to Andrew Pearson, Vice President of Investor Relations and Strategy for Mission Produce. Sir, please go ahead.
Andrew Pearson
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Thank you and good afternoon. Today’s presentation will be hosted by John Pawlowski, President and Chief Executive Officer, and Bryan Giles, Chief Financial Officer.
The comments during today’s call contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are considered forward-looking statements. These statements are based on management’s current expectations and beliefs, as well as a number of assumptions concerning future events. Such forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from the results discussed in the forward-looking statements. Some of these risks and uncertainties are identified and discussed in the company’s filings with the SEC.
We’ll also refer to certain non-GAAP financial measures. Please refer to the tables included in the earnings release, which can be found on our investor relations website, investors.missionproduce.com, for reconciliations of non-GAAP financial measures to their most directly comparable GAAP measures.
NEW YORK — Savannah Guthrie, co-anchor of NBC’s “Today” show, posted an emotional message on Instagram Stories over the weekend, expressing continued anguish as the search for her 84-year-old mother, Nancy Guthrie, entered its fourth month without resolution.
The post featured a religious image with the text “Oh my, my soul, it cries out, soul, it cries out,” accompanied by Guthrie’s own plea: “Bring her home” followed by a yellow heart emoji. The message quickly drew widespread attention, highlighting the family’s ongoing pain and hope amid an unresolved investigation into Nancy Guthrie’s disappearance from her Tucson, Arizona, home.
Nancy Guthrie was last seen on January 31. She vanished from her residence in the Catalina Foothills area on February 1, with blood evidence matching her DNA found on the porch and signs of a possible struggle. Authorities have treated the case as a suspected abduction, though no arrests have been made and her body has not been recovered.
Pima County Sheriff Chris Nanos provided an update in May, noting steady investigative progress despite challenges. “I think every day they get closer,” he said. “There’s way too much work to be done, that is ongoing, with some of the physical evidence we have.” Mixed DNA found near the home continues to be analyzed, with the FBI assisting in the probe.
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Savannah Guthrie has occasionally shared public appeals while largely respecting the family’s desire for privacy. In a statement for the KVOA News 4 TV special “Bring Her Home: The Disappearance of Nancy Guthrie,” the family expressed gratitude for community support. “We are deeply grateful for the outpouring from neighbors, friends and the people of Tucson. We are all family now,” the Guthrie siblings said. “We continue to believe it is Tucsonans, and the greater southern Arizona community, that hold the key to finding resolution in this case.”
On Mother’s Day, Savannah Guthrie shared a video compilation featuring clips of her mother, offering a touching tribute amid the uncertainty. Her latest Instagram post continues this pattern of selective but heartfelt communication, using faith-inspired imagery to convey the depth of the family’s emotional struggle.
The case has drawn national attention due to Savannah Guthrie’s prominent media role. A $1 million reward remains active for information leading to Nancy Guthrie’s safe return or the arrest and conviction of those responsible. Tips continue to flow in, though authorities caution that many require careful verification amid widespread public interest.
The Catalina Foothills community has been shaken by the disappearance. Multiple searches of the rugged desert terrain have been conducted using cadaver dogs, drones and ground teams, but the vast landscape presents significant challenges. No new large-scale searches have been publicly detailed recently, though the investigation remains active.
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Experts in no-body homicide cases have commented on the difficulties. Tad DiBiase, a prosecutor specializing in such prosecutions, has noted the statistical likelihood of remains being disposed in water or wooded/outdoor areas, while stressing the importance of thorough searches to support any future prosecution by ruling out alternative scenarios.
For the Guthrie family, the prolonged uncertainty has been profoundly difficult. Savannah Guthrie has balanced her high-visibility role on “Today” with supporting her loved ones. Colleagues have offered public support, with anchors occasionally acknowledging the family’s ordeal during broadcasts while respecting boundaries.
Nancy Guthrie was described by family as independent and vibrant. Her sudden vanishing has prompted broader conversations about safety for elderly residents and the challenges of missing persons cases when foul play is suspected but no body is found. The emotional toll on families in such situations is immense, with each passing day compounding grief and hope.
Community response has included participation in early searches, vigils and ongoing offers of assistance. Local residents and the greater Tucson area have rallied around the family, reinforcing the statement that the community holds potential keys to resolution.
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As the investigation advances, focus remains on processing evidence, pursuing leads and conducting targeted searches. Digital forensics, neighbor interviews and analysis of potential vehicle activity continue to form important elements. A person captured on doorbell camera footage near the time of the disappearance was questioned early on, but no public persons of interest have been named.
Savannah Guthrie’s public messages serve dual purposes: appealing for information and expressing the family’s enduring hope. The religious imagery in her latest post reflects a source of comfort and strength for many facing similar ordeals. The yellow heart emoji, often symbolizing hope and positivity, adds a gentle note of optimism amid heartbreak.
The high-profile nature of the case has generated extensive media coverage and online discussion. While this has raised awareness, authorities caution against unverified theories that could complicate official efforts. Professional forensic work and verified tips remain the priority.
For the Guthrie family, each day without answers brings new challenges. Savannah Guthrie’s willingness to share glimpses of her pain humanizes the broader statistics of missing persons cases. Her platform amplifies the call for information while modeling resilience in the face of uncertainty.
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Nancy Guthrie’s disappearance serves as a sobering reminder of vulnerabilities for seniors living independently. It has prompted some in the Tucson area to review home security and neighborhood watch programs. The case also highlights the dedication of law enforcement and the importance of community vigilance.
As months pass, the family’s public appeals demonstrate both hope and determination. Savannah Guthrie’s Instagram post, though brief, resonated widely, with followers offering support and sharing the message in hopes of generating new leads.
Investigators urge anyone with information to contact the Pima County Sheriff’s Office or the FBI. The reward provides additional incentive, and tips can often be submitted anonymously.
The coming weeks and months will be critical as forensic analysis continues and leads are evaluated. For now, the Guthrie family, supported by friends, colleagues and the Tucson community, holds onto hope while facing the daily reality of not knowing.
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Savannah Guthrie’s message carries profound weight. “Bring her home” remains the central plea, echoing the sentiments of countless families in similar situations. As the investigation progresses, the focus stays on methodical work that could eventually provide the answers the family and community seek.
The emotional journey of the Guthrie family illustrates the human impact of unresolved missing persons cases. Savannah Guthrie’s openness, balanced with professional responsibilities, has drawn admiration from colleagues and viewers alike. Her continued advocacy keeps attention on the case while honoring her mother’s memory.
Nancy Guthrie’s story, amplified through her daughter’s platform, highlights both the personal toll of such disappearances and the collective responsibility to assist in bringing missing loved ones home. The Tucson community’s ongoing support reflects a shared commitment to resolution.
As the search enters its fifth month, the Guthrie family’s resilience amid uncertainty serves as an inspiration. Savannah Guthrie’s latest message, though simple, reinforces the enduring hope that Nancy will be found and returned safely. The yellow heart emoji stands as a quiet symbol of optimism in the face of profound loss.
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Authorities continue to urge the public to come forward with any information, no matter how small. Every tip, they emphasize, could be the key to bringing Nancy Guthrie home.
Stellantis is recalling more than 1 million Jeep Wrangler and Gladiator vehicles over a defect that could spark a fire, urging owners to park their vehicles outdoors and away from buildings until a remedy is available.
The recall covers an estimated 1,076,999 model-year 2021–2025 Jeep Wrangler and Gladiator vehicles. In the affected vehicles, an electrical issue involving the wiring for the electric hydraulic power steering pump could cause nearby materials to overheat and potentially ignite, according to the Detroit Free Press and The Detroit News.
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“In rare circumstances, this may cause combustible materials to overheat, potentially leading to a vehicle fire,” Stellantis spokesperson Frank Matyok said.
Jeep Wrangler vehicles at a dealership in Mississauga, Ontario, Canada, on Friday, Oct. 17, 2025. (Laura Proctor/Bloomberg via Getty Images / Getty Images)
The automaker said it has not yet finalized a repair but expects a remedy to be available by July, according to the Detroit Free Press.
Once the fix is ready, affected owners will be notified by mail and instructed on how to schedule repairs at their local dealership, the outlet reported.
A Jeep Gladiator pickup truck is seen at a dealership in Glenview, Illinois, on March 3, 2021. (Xinhua/Joel Lerner via Getty Images / Getty Images)
Depending on the vehicle, repairs may include inspection and replacement of the wiring harness and electric hydraulic power steering pump, according to the Detroit Free Press.
The latest recall adds to a string of safety issues that have affected Jeep models in recent years.
The logo of Stellantis sits on the company’s building in Poissy, near Paris, France, on Feb. 26, 2025. (Reuters/Stephanie Lecocq / Reuters)
In late May, Stellantis recalled 419,035 Jeep Grand Cherokee and Grand Cherokee L SUVs over a software defect that could delay side airbag deployment during a crash, increasing the risk of injury, according to The Detroit News.
The mining magnate has sold a block of riverfront land next to the Hancock family mansion in Dalkeith, after years of listing the site on and off the market.
US stocks have ended mostly higher, led by gains in the Nasdaq and chipmakers as investors sought bargains after Friday’s sharp sell-off.
Investors were also relieved after Iran and Israel said they had halted attacks on each other.
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