Understanding the Payments Ecosystem
Budget After Effects – Is This a Market Pivot from Capex to Consumption?
The budget injects an additional ₹1 lakh crore into consumers’ hands. Could this be a pivotal moment for market participants to shift focus from capex-driven or low-value stocks to consumption-oriented or high-value stocks?
Growth as an investment style has traditionally been linked to the outperformance of Consumption and Quality stocks (including FMCG and Discretionary). In contrast, the Value style has been associated with the industrial cycle, covering Capital Goods, Infrastructure, PSUs, etc.
An Elara Capital report outlines its reasoning for why the market is shifting its focus from Value to Growth/Quality stocks. It makes for an interesting read.
Note: The confidentiality clause does not mention any copyright restrictions that would prevent sharing.
Markets Changing PIVOT.pdf (1.7 MB)
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Aswath Damodaran’s Blog
Data Update 5 for 2025: It’s a small world, after all!
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India Data Hub
This Week In Data Newsletter #107
(RBI Rates, Capex recovery, Slowing US Growth and more...)
Topics discussed:
- RBI cuts interest rates, are further rate cuts likely?
- Liquidity situation has improved significantly
- Automobile sales recovered in January
- Energy consumption in January was mixed
- Container throughput at the major ports is growing rapidly
- US labour market remains strong but growth is weaking
- Inflation is rising in the Euro area complicating ECB’s job
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