NDTV Profit IGNITE Kicks Off With A Bang: Dalal Street's Best On Where To Invest Now

At NDTV Profit IGNITE Diwali Edition, market veterans held out the view that markets could continue to consolidate amid a difficult global economic landscape but said India was well placed to navigate the challenges in the long term and added that equities were the best way to generate wealth.

NDTV Profit on Friday hosted its first IGNITE event in Mumbai, bringing together market veterans, corporate leaders, fintech entrepreneurs, and investors to discuss India’s and the global financial landscape.

The Diwali edition – which will be followed by other IGNITE events through the year and in the future – was most timely, coming ahead of the upcoming Samvat, where investors would want to know how to navigate a complex global economic landscape.

This economic environment was highlighted by veteran investor Ramesh Damani, who said the world today is very different from when he started in the markets in 1989.

While globalisation and privatisation were the themes a few decades ago, most countries at present are having to fend for themselves, Damani pointed out.

Still, he said, Indian investors need not be worried, as the economy is well-placed to navigate the global challenges.

“People ask me which decade was the best to start investing. I say the best decade to invest in India is always the next decade,” he said, picking rare earth minerals, shipbuilding, and infrastructure as sectors to watch out for.

Damani also weighed in on gold and said the yellow metal, which is making all-time highs, has given poor returns over the long term.

His co-panellist, Manish Chokhani of Enam, however, offered a different view, saying the gold rally reflects investors disapproving of the West’s inflationary and money-printing policies.

Still, investors must use common sense and invest for the long term, said NSE CEO Ashishkumar Chauhan, adding that they should avoid leveraged instruments such as F&O.

“Leverage is the ultimate risk. Companies have bankruptcy processes; individuals do not,” Chauhan said. “Even though I helped bring derivatives to India, they are very sophisticated. Investors should not enter the derivatives market unless they fully understand it.”

While Kotak Mahindra AMC’s Nilesh Shah, who is part of the Economic Advisory Committee to the Prime Minister, said young companies in India were embracing technology in a big way, adding that fostering homegrown talent and accelerating the reform agenda will unlock growth further.

Besides market veterans, IGNITE had an eclectic mix of speakers from across business and markets.

Sundeep Sikka, CEO of Nippon Life India AMC, talked about the SIP inflows that have remained steady in the markets.

“SIPs that come through advisors have remained stable through volatility,” he said, noting that distributor-backed SIPs reduce redemptions and prevent investors from chasing trends.

Harshvardhan Roongta, CFP at Roongta Securities, talked about the importance of insurance. “Insurance is the first step of wealth creation because you are one hospitalisation away from bankruptcy,” he said. He noted that low penetration leaves many households exposed.

Ayush Mittal of Screener talked about the advent of AI and said investors must use the technology for research but not to make investment decisions.

The event also had a panel of industry executives who talked about the GST impact on consumption, who said they are already seeing signs of a pick-up in consumption.

When asked if all products on shelves are currently sporting the lower GST rates, Mayank Shah, VP of Parle Products, said, “Lower MRPs for larger packs will appear first; smaller packets will follow.”

Rounding out the guest list were two speakers, both bringing very unique perspectives for the audience.

The penultimate speaker was Vijay Kedia, an ace small-cap investor, who appeared cautious on the IPO market, which he said appeared frothy.

Kedia, who has a penchant for music and poetry, articulated his advice for investors in eloquent prose: “Soch kar samajh kar invest kar… Rumour pe tip pe naa time waste kar… Knowledge aur patience ka business hai yeh… Anubhav se seekh aur best kar… Haar ko bhi apni digest kar… Logo ke behkaave mein naa tu aa… Apni Vijay manifest kar.”

And finally, there was Bollywood star Vivek Oberoi, who has reinvented himself as a successful entrepreneur and investor, having a reported net worth of Rs 1,200 crore.

Oberoi said he had been passionate about business since his college days, recalling his various ventures as a student to make money on the side.

“I was always good at spotting the market’s need,” he said. It is this quality that led him to note that students these days were interested in startups, prompting him to co-found Swarnim University. “I set up a startup and innovation university in Gujarat… the first university that had a dual degree where you could do a traditional degree and a startup at the same time,” he said, highlighting the initiative’s focus on balancing formal education with entrepreneurship.