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Sandip Sabharwal calls IT a tactical trade, stays bullish on autos

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Sandip Sabharwal calls IT a tactical trade, stays bullish on autos
India’s IT sector may finally be attracting value investors after a prolonged correction, but market expert, Sandip Sabharwal believes the rally is unlikely to evolve into a long-term structural uptrend. While lower valuations and attractive dividend yields have improved the risk-reward equation, he sees the sector as a tactical opportunity rather than a buy-and-hold investment.

“The IT sector has been on a one-way downswing for almost the last year, and over the last three-four years it has gone nowhere. Valuations for TCS and Infosys have come down, so they present opportunities for value investors. But I see this more as a trading sector… we could make 10-20%, but I do not see the trend completely reversing,” he said.

Sabharwal said he has taken small positions in large-cap IT names but intends to exit once they generate reasonable returns instead of holding them for the long term.

DMart’s Valuation Still Looks Stretched

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Commenting on Avenue Supermarts‘ first-quarter update, Sabharwal said the retailer continues to deliver respectable operational performance, but its premium valuation remains difficult to justify.

“The performance is fine, but the valuations do not justify the growth. There is no upside to the stock in my view because of the very high valuations. It is unlikely to outperform,” he said.
Even though broader market sentiment remains supportive, he believes any upside in the stock will likely remain limited.
Marico Reinforces Consumption Strength
Marico’s stronger-than-expected quarterly update has strengthened confidence in the consumption story, according to Sabharwal. He pointed to healthy volume growth, improving rural demand and a positive outlook as encouraging signs for the broader FMCG sector.
“The numbers were very-very strong and the outlook also seems quite positive. It gives a positive connotation to the entire consumption space,” he said.

He added that his channel checks indicate consumer demand remained resilient during the first quarter and expects this trend to be reflected in upcoming earnings from other consumer companies.

Margin Pressures Should Ease
While higher input costs could weigh on margins for some FMCG companies in the near term, Sabharwal expects the pressure to be temporary as raw material prices cool.

“Demand has been holding up on the ground. Packaging costs are already below pre-war levels, and those benefits will start coming in. Prices will largely hold and help margins for the rest of the year,” he said.

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Auto Sector Well Positioned for Growth
Sabharwal remains constructive on the automobile sector after healthy sales across both conventional and electric vehicles. He believes the ongoing shift toward EVs is also accelerating replacement demand.

“Numbers have been very strong across ICE as well as EV portfolios. EV penetration is touching new records, and replacement demand could keep the momentum going,” he said.

He, however, cautioned that an unfavourable monsoon remains the biggest risk for rural demand.

“The possibility of a poor monsoon remains the key risk, but many earlier concerns have eased. The sector is well placed for growth,” he said.

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OEMs and Auto Ancillaries Both Attractive
Sabharwal expects both vehicle manufacturers and component makers to benefit from improving industry conditions, especially as export-related tariff concerns have moderated.

“We own Maruti, M&M and Bajaj Auto. All these companies should do reasonably well. We also have a small holding in Greaves Cotton, which could also do well,” he said.

EV Adoption Has More Room to Grow
The momentum in electric two-wheelers is unlikely to slow anytime soon, Sabharwal said, citing lower running costs and a faster replacement cycle.

“This momentum will continue and the shift is not going to stop. The EV market is huge, and replacement demand could accelerate further,” he said.

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Liquidity Will Determine Credit Growth
On the banking sector, Sabharwal said credit growth will eventually depend on the availability of deposits, although expected FCNR inflows could provide temporary support.

“If liquidity does not improve, it will cap credit growth at some stage. FCNR flows could bridge the gap this year, but deposit growth has to keep pace,” he said.

He added that stable foreign fund flows could also improve overall system liquidity.

Tata Motors Still Faces Execution Challenges
Sabharwal believes Tata Motors continues to remain a stock that periodically disappoints despite improvements in its domestic business.

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“Tata Motors is always a work in progress. Some quarters are good, then guidance disappoints the market. But domestically they seem to be stabilizing,” he said.

Titan Remains the Preferred Jewellery Bet
Despite strong updates from some jewellery companies, Sabharwal continues to favour Titan over the rest of the sector because of governance concerns elsewhere.

“For many jewellery companies, corporate governance remains a concern. Titan is the only credible player I see. If someone has to play the sector, they should play it through Titan,” he said.

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Iran’s slain leader Khamenei laid in state in Tehran for week of mass funeral events

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Iran’s slain leader Khamenei laid in state in Tehran for week of mass funeral events


Iran’s slain leader Khamenei laid in state in Tehran for week of mass funeral events

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Platzer Q2 2026 slides: net letting hits record, occupancy climbs

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Platzer Q2 2026 slides: net letting hits record, occupancy climbs


Platzer Q2 2026 slides: net letting hits record, occupancy climbs

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Toronto home sales rise in June for fourth straight month

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Toronto home sales rise in June for fourth straight month


Toronto home sales rise in June for fourth straight month

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Security staff to go on strike at Aberdeen Airport

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Georgia Finch and her husband on their wedding day

Security staff at Aberdeen Airport have announced 14 days of strike action in a row over pay.

The union said it was left with no option as negotiations with ICTS HBS Security, through the conciliation service Acas, failed to produce a breakthrough.

The strikes, involving baggage screening staff, are set to begin on Monday.

The Unite union is warning of significant delays if the strikes go ahead and is urging the company to return to the negotiating table.

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The development comes after summer strikes at Glasgow and Edinburgh airports were averted after new deals were struck.

Unite members unanimously supported industrial action at Aberdeen.

Union officials said there would be significant delays as its members in ICTS make up the majority of the baggage screening team at the airport.

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Europe’s STOXX 600 set for best week in over a month as rally broadens

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Europe’s STOXX 600 set for best week in over a month as rally broadens


Europe’s STOXX 600 set for best week in over a month as rally broadens

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Thailand Ranks Among Asia Pacific’s Top 5 Travel Destinations in Visa 2026 Study

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Cabinet Acknowledges Visa Measures to Boost Thailand’s Tourism and Economy

The Tourism Authority of Thailand (TAT) celebrates Visa’s 2026 study, ranking Thailand among top Asian-Pacific destinations. Emphasizing familiarity and unique experiences, TAT supports quality tourism, digital payments, and flexible travel.

Thailand’s Popularity Among Asia Pacific Travelers

Bangkok, 2 July 2026 – The Tourism Authority of Thailand (TAT) is celebrating Thailand’s recognition in Visa’s 2026 Global Travel Intentions study. This study highlights Thailand as one of the top five destinations for Asia Pacific travellers, showcasing a strong demand for convenient and enriching experiences. With over 47,000 respondents, including more than 17,000 from the Asia Pacific region, the study reveals a shift towards intentional travel planning, emphasizing familiarity and practical choices.

Shifts in Travel Planning and Payment Trends

The study shows 63% of Asia-Pacific respondents prefer regional travel, ranking Thailand alongside popular destinations like Japan and Australia. Notably, 37% of travelers prioritize local experiences such as food and culture, surpassing the global average. The use of AI in planning is growing, with travelers seeking detailed information on accommodations and travel requirements. Digital payments are pivotal, with 73% of respondents carrying cards or mobile wallets, aligning with Thailand’s “Pay Like a Local” initiative for seamless tourist experiences.

Enhancing Thailand’s Travel Experience

Visa’s findings support TAT’s vision of quality-led tourism, focusing on providing meaningful and culturally rich experiences. The emphasis is on wellness, gastronomy, and local connections, aligning with the “Healing is the New Luxury” concept. TAT is enhancing its approach through targeted communication, digital convenience, and promoting lesser-known destinations. As travelers value flexibility, opportunities abound for inspiring spending on local dining and unique experiences, reinforcing Thailand’s appeal as a trusted, well-rounded travel destination.

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Source : Thailand ranks among Asia Pacific travellers’ top five destinations in Visa study

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Winmar statue to be removed from Optus Stadium

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Winmar statue to be removed from Optus Stadium

EXCLUSIVE: The Premier has directed VenuesWest to remove the statue of Nicky Winmar at Optus Stadium.

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PB Fintech shares slide up to 8% after Temasek arm likely sells over 2% stake via block deal

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PB Fintech shares slide up to 8% after Temasek arm likely sells over 2% stake via block deal
PB Fintech shares fell as much as 8.12% to an intraday low of Rs 1,545.50 on Friday after Temasek’s arm reportedly sold more than a 2% stake in the company through a block deal.

According to a CNBC-TV18 report, the deal, involving 2.37% of the company’s equity capital and valued at up to Rs 1,740 crore, was executed at a floor price of Rs 1,601 per share. The floor price represented a discount of nearly 5% to Thursday’s closing price of Rs 1,682.10.

The transaction is in line with a proposed block deal reported on Thursday, under which Singapore-based Macritchie Investments Pte was expected to sell up to 1.19 crore shares, or about 2.6% of PB Fintech, for approximately Rs 1,909 crore.

MacRitchie is a Singapore investment holding company linked to the city’s state investment company, Temasek.

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LSEG data as of Thursday showed MacRitchie owned 6.48% or 29.9 million shares in PB Fintech.


This is the second such block deal in PB Fintech in a little over a month. In May, the company’s co-founders, Yashish Dahiya and Alok Bansal, sold stakes to a group of domestic and foreign institutional investors.
According to exchange data, On May 29 a total of 38 lakh shares changed hands at Rs 1,751 apiece, translating into a transaction value of about Rs 665 crore.PB Fintech Chairman and Group CEO Yashish Dahiya sold 26 lakh shares, while Vice Chairman Alok Bansal offloaded 12 lakh shares.

On the buy side, the shares were picked up by a diverse set of institutional investors, including National Pension System Trust, Tata Mutual Fund, Morgan Stanley Asia Singapore, Goldman Sachs Bank Europe, BNP Paribas Financial Markets, and funds managed by Wasatch Advisors.

PB Fintech operates digital platforms Policybazaar and Paisabazaar, which are among the country’s largest online insurance and lending marketplaces.

(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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Mettler-Toledo International Is Still Overpriced

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Mettler-Toledo International Is Still Overpriced

Mettler-Toledo International Is Still Overpriced

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10 questions for Maxine Fox of 5 Circles

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The founder of the North East-based business support consultancy 5 Circles answers our questions

5 Circles is a North East-based consultancy.

Maxine Fox of 5 Circles.(Image: 5 Circles)

Maxine Fox is the face of 5 Circles – a firm launched in 2025 to provide strategic support across people, marketing, finance and operations.

What was your first job and how much did it pay? My first job was in the shop in the village where I grew up in East Yorkshire. I worked there for years — all the way through secondary school and when I was home from university. I loved it. It was my favourite job of all time! It was a small village so everyone knew everyone, which was great from a community point of view. It wasn’t so great when you were up to no good and everybody knew who your mum was. When I started, I got paid £1 an hour and I seem to remember getting really excited when it went up to £1.10 per hour. This was a long time ago!

What is the best advice or support you’ve been given in business? Establish boundaries with your time. Running a business is all-consuming and I learned very quickly that it was eating into my time with my family and affecting the things I enjoy doing outside of work. Whilst I don’t always adhere to the advice, I am getting better at knowing where I should devote my time and when to down tools for the day. When I first started, I was working seven days a week and into the evenings. That’s simply not sustainable — either health-wise or in terms of being happily married! When you’re running a business your time is the most precious commodity and it needs to be used wisely.

What are the main changes you’ve seen in your business/sector and what are the challenges you’re facing? I’ve only been running 5 Circles since December 2025 so it’s difficult to provide a wider view. The main change is that I’ve introduced services that weren’t part of my original business plan. I’ve been able to adapt to meet the demands of the businesses I work with and that’s been a positive thing. The main challenge I face is that my time is finite and I just need more of it.

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What would your dream job be? TV Script writer. When I was a kid I used to enjoy writing plays and sometimes I added a music score too.

What advice would you give to someone starting out a career in your sector? Have a trusted circle of people that you know will understand what you’re going through and how lonely it can be. People that you can run ideas past and people who’ll give you honest answers are like gold dust.

What makes the North East a good place to do business? The community. I’m not originally from the region but moved here in 2002. People from the North East are proud to be from here and I like that. In my experience, the business community wants to help one another.

How important is it for business to play a role in society? Very important. When businesses are successful and attuned to their communities, the knock-on benefits reach across all aspects of society from the economy to health and education.

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Outside of work, what are you really good at? I have a pretty good knowledge of pop knowledge from the 60s to the 90s. I recently won the Radio 2 pop quiz — 10 to the Top with Vernon Kay.

Who would play you in a film about your life? Amy Adams

Which three people would you invite to a dinner party, and why? My best friend Sam from home, my best friend Juliet from university and my sister Gem. We don’t get chance to catch up as much as I would like and nobody makes me laugh as much as those three do.

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