The Core Report
The Core
Every Monday to Saturday, tune in as financial journalist and host Govindraj Ethiraj gives you the latest news in business, economy and technology
Every Monday to Saturday, tune in as financial journalist and host Govindraj Ethiraj gives you the latest news in business, economy and technology
#1025 Will Markets Disconnect From Crude Oil Prices?
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On Episode 1025 of The Core Report, financial journalist Govindraj Ethiraj talks to Dr Rahul Mirchandani, Chairman & Managing Director at Aries Agro Limited as well as Manisha Kapoor, CEO and Secretary General at Advertising Standards Council of India (ASCI). SHOW NOTES (00:00) Stories of the Day (01:00) Will Markets Disconnect From Crude Oil Prices? (02:39) Sensex Is Up Near 4,000 Points In 5 Days (03:11) Gold Demand Is Falling Sharply In India (04:51) Sulphur Supply Has Improved But Prices Are Still High (11:11) Indian Data Centres Could See A 5x Jump In Capacity In Next Four Years Driven By Rs 3,00,000 Crore Of Investments (12:38) Some 60 Of 61 Nutraceutical Company Ads Processed By Ad Body Did Not Hold Up To Their Claims For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1024 of The Core Report, financial journalist Govindraj Ethiraj talks to Professor Prasanna Tantri, Associate Professor of Finance at the Indian School of Business (ISB); Manoj Mishra, Partner & Tax Controversy Management Leader at Grant Thornton Bharat; and, Michel van Hoey, a senior partner in McKinsey’s Luxembourg office. SHOW NOTES (00:00) Stories of the Day (00:50) Festive Spirits And Tax Promises Lift Markets (02:52) Why Reliance Stock Prices Jumped On Monday (03:45) Strong Results Continue To Pour In, As Consumption Stays Strong (05:42) The Problem With Rising Bank Credit (18:09) Will The Higher GST Numbers Sustain? (22:43) Why India Is Now The Hottest Source And Destination For The Global Metals Industry For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1023 of The Core Report, financial journalist Govindraj Ethiraj talks to Sushil Choksey, Founder & Managing Director at Indus Equity Advisors. SHOW NOTES (00:00) Stories of the Day (05:00) Oil Markets Brace For Yet Another Tough Week (08:03) AI Trades Are Unwinding, Could India Benefit? (08:21) World Bank Study Says India Lifted 496 Million People Out Of Poverty Between 2011 And 2023 (09:43) GST Collections Jump 23% In October, Also Thanks To More Imports (11:12) Why Reliance’s Share Price Is Held Down And What Could Unlock It Check out The Core's Earnings Tracker For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
Could Nifty returns disappoint over the next two years, even if Indian companies keep growing? In this episode of The Core Report Special Edition, financial journalist Govindraj Ethiraj speaks with Amar Ambani, Executive Director at YES Securities, about the Indian stock market outlook, opportunities beyond the Nifty 50 and what investors need to consider before committing money for the long term. Amar Ambani explains why he expects single-digit Nifty returns over the next one to two years despite seeing signs of an oversold market. He discusses how foreign investor selling, elevated bond yields and competition for global capital could constrain large-cap stocks. For investors willing to look three to five years ahead, however, he believes valuations offer room for selective buying. The conversation explores why established businesses such as Asian Paints, Reliance Industries and Jubilant FoodWorks can face pressure on their stock prices for different reasons. From rising competition and investment cycles to weak sentiment, Ambani examines why a strong business does not automatically make an attractive investment. He also explains why he expects stock picking in mid-cap and small-cap companies to matter more when benchmark returns are modest. Where could opportunities emerge? Amar Ambani discusses banking stocks, consumer durables, power, defence and quick-service restaurants. He examines the recovery in appliance demand, the outlook for consumer spending and how AI data centres and electric vehicles could increase electricity demand. The discussion also considers whether competition among global AI companies could bring renewed attention to Indian businesses with earnings growth and healthy returns on capital. What could derail that outlook? Amar Ambani identifies rupee depreciation, sustained foreign portfolio outflows, elevated crude oil prices and geopolitical uncertainty as risks. He explains why investors should retain sufficient liquidity, avoid borrowing against shares to increase exposure and approach equity investing with a five-year horizon. At the heart of the conversation is a question for anyone concerned about Nifty returns. Should investors wait for a clear market recovery, or selectively buy before a trigger emerges? Amar Ambani shares how he evaluates sector growth, promoter quality, corporate governance, operating cash flow, return on capital and valuations when looking for long-term investment opportunities. Chapters: 00:57 Amar Ambani on India's Stock Market Outlook 01:53 Why Indian Equities Are Looking Oversold 06:43 Why Leading Stocks Are Trading at Multi-Year Lows 09:17 Can Large-Cap Stocks Deliver Strong Returns Again? 09:34 Why the Next Two Years Could Be a Stock Picker's Market 11:57 Can Domestic Investors Offset Foreign Selling? 13:41 Where Are the Opportunities in Mid and Small Caps? 13:50 Why Banks and Consumer Durables Look Attractive 15:33 Power, Defence and the Next Investment Opportunities 17:15 India's Consumer Demand and Spending Outlook 19:20 Corporate Earnings and the Growth Outlook 20:56 Are Strong Fundamentals Enough to Lift Stock Prices? 21:34 Geopolitics, Crude Oil and Risks to Indian Markets 23:11 Rupee Depreciation and Foreign Capital Flows 24:32 How Should Investors Build Their Portfolios? 25:46 Why Investors Need a Three-to-Five-Year Horizon 26:45 What Makes a Company Worth Investing In? 27:04 How to Evaluate Promoters, Cash Flows and Valuations 29:31 Final Outlook: Selective Buying in an Oversold Market Watch the full conversation for a deeper understanding of the Nifty 50 outlook, stock selection and long-term investing in India. Subscribe to The Core Report for conversations on business, the Indian economy and financial markets with Govindraj Ethiraj. #Nifty50 #IndianStockMarket #Investing #TheCoreReport #TheCore
Are investors ignoring India’s best value stocks while chasing the next big opportunity? In this episode of The Core Report Weekend Edition, financial journalist Govindraj Ethiraj speaks with Sanjeev Prasad, Managing Director & Co-Head at Kotak Institutional Equities, about value investing, Indian stock market valuations and why some large-cap stocks are struggling to attract attention.Sanjeev Prasad explains why he believes investors have become too focused on predicting stock prices. He examines how retail savings, mutual fund inflows and momentum investing influence market behaviour, often overshadowing a more important question. Is the business worth what you are paying for it?The conversation explores the divide between large-cap, mid-cap and small-cap stocks. Sanjeev Prasad discusses why newer manufacturing, defence, electronics and consumer technology businesses command investor attention, while mature industries generate less excitement. He explains why stronger earnings growth matters, but does not justify buying at any valuation.Using HDFC Bank and ONGC as examples, Sanjeev Prasad examines why he sees overlooked value in established companies. He discusses how concerns about management, government intervention and past performance can weigh on sentiment. His approach to identifying value stocks starts with comparing the share price with the business’s earnings potential.Are IPO investors assessing companies or chasing listing gains? Sanjeev Prasad explores IPO valuations, offers for sale and how much fresh capital supports new investment. He also discusses why foreign investors may participate in India’s IPO market while selling shares in the secondary market.What could restore confidence in Indian equities? The discussion covers crude oil prices, corporate earnings, capital gains taxation and foreign portfolio investment. Sanjeev Prasad also questions whether concerns about AI and Indian IT services are overshadowing opportunities across the wider economy.At the heart of the conversation is a bigger question. Are investors buying businesses for their long-term value, or hoping someone else will pay a higher price? Sanjeev Prasad explains why looking beyond market sentiment remains central to his investment approach.Chapters:01:14 Sanjeev Prasad on Indian Equities02:02 Why Investors Are Focusing on Price Instead of Value04:21 Euphoria in Mid and Small Caps, Despair in Large Caps06:06 How Retail Money Is Driving Market Behaviour08:34 Are Indian Stock Market Valuations Attractive Again?10:40 Understanding IPOs and Secondary Market Flows15:31 Why Smaller IPOs Are Delivering Higher Returns17:23 The Risks Behind Small Cap IPO Investing18:23 Why Value Matters More Than Stock Price19:27 Are IPO Proceeds Funding India's Future Growth?22:16 IPO Pricing and Foreign Investor Flows23:59 The Next Wave of India's Manufacturing Companies25:34 Why Smaller Companies Are Growing Faster29:04 India's Large Caps and the Challenge of Mature Industries30:35 Why Investors Are Ignoring ONGC and HDFC Bank33:15 The Risks of Buying Overpriced Stocks33:54 A Bull and Bear Market at the Same Time35:03 Corporate Confidence and India's Industrial Credit Growth36:20 How PLI Schemes Are Driving Manufacturing Investment37:19 What Could Bring Investors Back to Indian Markets?38:47 Earnings Recovery, Capital Gains Tax and Foreign Investors42:26 Is India's Dependence on IT Overstated?44:01 The Long Term Outlook for Indian EquitiesWatch the full conversation for a deeper understanding of value investing, Indian stock market valuations and long-term investment decisions. Subscribe to The Core for conversations on business, the Indian economy and financial markets with Govindraj Ethiraj.#ValueInvesting #IndianStockMarket #SanjeevPrasad #TheCoreReport
On Episode 1020 of The Core Report, financial journalist Govindraj Ethiraj talks to Madhavi Arora, Chief Economist at Emkay Global. We also feature an excerpt from our recent Special Edition featuring Amit Agarwal, CEO at EAAA India Alternatives, part of the Edelweiss Group. SHOW NOTES (00:00) Stories of the Day (00:41) Oil Markets Worry About The Longer Term (02:03) Indian Markets Have A Good Run (06:12) IHCL And AAHL Announce A Multi-Hotel Operating Agreement (07:45) The Perils Of Trying To Fight The Dollar (15:19) How Boring Investments In Roads And Solar Power Could Pay Off For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1019 of The Core Report, financial journalist Govindraj Ethiraj talks to Piyush Pandey, Senior Vice President, Institutional Equity Research (Lead Analyst) - IT, Telecom, Internet and Power at Centrum India as well as Masaharu Morita, Founder and Program Director at NURA - AI Health Screening Centre. SHOW NOTES (00:00) Stories of the Day (00:47) All Signs Continue To Point To A Long War In West Asia (02:24) More Indians Are Investing Overseas, And New Funds Are Keeping Up (06:03) Jio Platforms Delivers A Solid Listing, A Status Check On India’s Telecom Sector (14:27) Why More Indians Went Back To Cinema Halls Last Quarter (15:19) How A 92 Year Old Japanese Camera And Film Company Is Innovating Diagnostic Healthcare In India For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1018 of The Core Report, financial journalist Govindraj Ethiraj talks to Jaspreet Bindra, Co-founder and CEO at AI&Beyond as well as Matthew Morgan, Partner and the Chief Operating Officer at Eisner Advisory Group LLC. SHOW NOTES (00:00) Stories of the Day (01:00) Oil Prices Stay Unrelentingly High (01:42) Diesel Is The New AI For India As Govt Refiners To Boost Production By Over 16 Million Tonnes Next Year (02:55) Is India Exhausting More Ammunition Than Necessary In Trying To Defend The Rupee Against The Dollar (05:41) Microsoft’s Mass Move To Reduce Headcount By Over 25% And Anthropic’s Mega IPO, What Ties Them Together? (16:08) Are GCCs Still Expanding In India And Where? For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1017 of The Core Report, financial journalist Govindraj Ethiraj talks to Chanakya Chakravarty, Global Real Estate Investor and Capital Strategist. SHOW NOTES (00:00) Stories of the Day (00:50) More World Leaders Join The Hunt For Gasoline (04:34) Neoclouds Are Under Pressure On Wall Street, Opening Up Fresh Chink In AI Armour (05:53) Uday Kotak’s Warning On The Cost Of FCNR Deposits (07:24) Domestic Institutional Capital In Real Estate Has Overtaken Foreign Capital For The First Time. What Does That Mean? For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1016 of The Core Report, financial journalist Govindraj Ethiraj talks to Amit Mittal, Director at AeroIntellect Aviation as well as Saket Mehra, Partner and Automotive & EV Industry Leader at Grant Thornton Bharat. SHOW NOTES (00:00) The Take (06:17) Middle East Braces For Highest Uncertainty Since War Began As Oil Prices Keep Pace (08:20) TCS Stock, A Bright Spot In A Gloomy Market (09:20) Domestic Air Traffic Is Falling, How Will That Affect Airlines And Aviation? (16:35) The Story Of PHP (18:01) Why There Are A Rash Of Automotive M&A Deals (25:40) Why Netflix Is In Trouble For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
Are Paytm, Blinkit and Meesho building more earnings potential than investors recognise? In this episode of The Core Report Special Edition, Govindraj Ethiraj speaks with Nirav Sheth, CEO of Institutional Equities at Emkay Global, about platform businesses, stock market valuations and India’s next growth opportunities. Sheth explains why reported profits and losses may not tell the full story of a digital business. Through Paytm’s merchant network, Meesho’s customer reach and Blinkit’s dark store economics, he examines how customer habits, network effects and expansion costs shape long-term profitability. When does spending to acquire customers create a lasting competitive advantage? The discussion explores why Paytm, Blinkit and Meesho require a different analytical approach from traditional consumer companies. Sheth discusses unit economics, cash flow potential and how quick commerce is changing competition for established retailers. Beyond digital platforms, Sheth examines electronics manufacturing services, power infrastructure and opportunities over the next decade. He discusses Dixon and India’s manufacturing ecosystem, alongside potential demand for electricity and transformers from AI data centres. He also explains his concerns about Indian IT services as artificial intelligence changes how work gets done. Why are foreign investors selling Indian stocks while domestic mutual fund inflows remain strong? Sheth connects foreign portfolio outflows with bond yields, earnings growth, valuations and rupee depreciation. He considers how new Nifty 50 constituents could reshape the index and what might bring foreign capital back. Where will India’s next market leaders emerge? From regional retailers and recycling businesses to electronics manufacturers, Sheth explores how smaller companies challenge larger rivals and shares how his investing framework has evolved. The conversation also separates enthusiasm for AI technology from confidence in AI stock valuations. Could cheaper models and changing infrastructure needs challenge today’s investment assumptions? Sheth considers how a reversal in the global AI trade might affect capital flows into India, while explaining why identifying a promising business is only one part of assessing an investment. Chapters: 01:35 Bond Yields, Valuations and Nifty Earnings Growth 03:38 Where Smart Money Could Go Next 05:53 Why Foreign Investors Are Selling Indian Equities 06:39 AI, US Bond Yields and the Rupee's Challenges 09:36 Domestic Mutual Fund Inflows vs FII Outflows 11:09 Why Nirav Sheth Remains Bullish on the Nifty 12:00 The Investment Case for New-Age Platform Companies 17:10 Blinkit, Zepto and the Economics of Disruption 20:15 India's Electronics Manufacturing Opportunity 22:27 How the Nifty's Next Market Leaders Could Change 23:59 Banking Outlook and AI Risks to Indian IT 25:24 How AI Could Disrupt White-Collar Jobs 28:11 AI-Powered Investment Research for Retail Investors 29:52 Data Centres and India's Next Power Boom 35:02 Could an AI Correction Bring Foreign Investors Back? 38:29 How Smaller Indian Companies Are Challenging Market Leaders 41:06 Nirav Sheth's Approach to Stock Selection Watch the full conversation for a deeper understanding of platform businesses, earnings growth and the Indian stock market. Subscribe to The Core Report for conversations on business, the Indian economy and financial markets with Govindraj Ethiraj. Is India underestimating the growth of Paytm, Blinkit and Meesho? Watch Govindraj Ethiraj and Emkay Global’s Nirav Sheth on The Core Report explore platform businesses, earnings growth, stock market valuations and quick commerce. Could AI and electronics manufacturing shape India’s next market leaders? Subscribe for insights into the Indian stock market and Indian economy. #Paytm #Blinkit #Meesho #IndianStockMarket #TheCoreReport #TheCore
Why are foreign investors selling Indian stocks when India’s economy continues to grow? The answer goes beyond corporate earnings to the returns investors keep after taxes, currency losses and the risks they take.In this episode of The Core Report Weekend Edition, financial journalist Govindraj Ethiraj speaks with Ajit Dayal, Founder of Quantum Advisors Private Limited, about foreign portfolio investment, Indian stock market valuations and what could bring global capital back to India.Dayal explains how expensive valuations can make Indian equities less attractive when investors compare potential returns with opportunities elsewhere. A stock market gain in rupees can look very different in US dollars, particularly after accounting for currency depreciation and capital gains tax.The discussion examines why domestic investors continue putting money into mutual funds and SIPs while foreign investors have been pulling back. Dayal traces India’s market development since the 1991 economic reforms and explains why a stronger investment ecosystem does not automatically guarantee foreign inflows.Corporate governance is another concern. Dayal describes Quantum’s integrity assessment of companies and why the treatment of minority shareholders matters to international investors. Govindraj questions how these concerns should be weighed against businesses delivering resilient earnings and benefiting from domestic demand.The conversation also explores the gap between GDP growth and stock market returns. Drawing comparisons between India and China, Dayal explains why investors need to examine how economic growth translates into shareholder returns, rather than relying on the growth story alone.Beyond company performance, they discuss how US tariffs, trade uncertainty, oil prices and geopolitical developments influence foreign investment decisions. Dayal questions the trade-offs involved in using a weaker rupee to support exports when currency losses can discourage overseas investors.Index funds and passive investing come under scrutiny too. Dayal discusses changes in index constituents, transaction costs and why he believes comparisons between actively managed funds and benchmark indices need closer examination.The global AI investment boom adds another dimension. Dayal distinguishes between artificial intelligence as a lasting economic shift and the risks of choosing individual AI stocks. He also explains why he remains optimistic about India’s consumer demand and sees opportunities despite the difficult market environment.What would make foreign investors look at Indian stocks differently, and which changes are within India’s control?Watch the full conversation for insights into FPI outflows, the Sensex and Nifty, rupee depreciation, capital gains tax, corporate governance, index funds & India’s investment outlook.Chapters01:09 When Will Indian Markets Regain Momentum?02:14 India's Changing Share of Global GDP05:13 How the 1991 Reforms Transformed Indian Markets07:15 Rising Retail Investment and Foreign Capital Outflows10:04 Coalition Governments and India's GDP Growth11:55 India vs China: GDP Growth and Stock Market Returns14:48 How Capital Gains Tax and Rupee Depreciation Impact Returns17:03 Why Corporate Governance Matters to Foreign Investors19:55 What Triggered the Foreign Investor Selloff?22:49 RBI's Currency Policy & Foreign Capital Flows24:53 US Tariffs and India's Trade Deal Uncertainty27:57 Market Corrections and India's Investment Opportunity30:41 Ajit Dayal's 30% Governance Concern in the MSCI India Index35:48 Why China Plus One Went to Vietnam37:01 The Hidden Costs of Passive Investing in India39:39 Banking, IT and Changing Index Weights41:54 Is AI a Bubble? The Long-Term Investment Outlook43:29 What India Must Fix to Attract Global Capital#IndianStockMarket #FPIOutflows #TheCoreReport
On Episode 1013 of The Core Report, financial journalist Govindraj Ethiraj talks to Dinesh Kanabar, Founder, Chairman & CEO of Dhruva Advisors. We also feature an excerpt from our recent Special Edition featuring Jitendra Gohil, CFA, CIO – Listed Equities at Bajaj Alternate Asset Management Limited. SHOW NOTES (00:00) Stories of the Day (01:00) When Will Fuel Prices Rise At The Pump? (03:25) Markets Dip Again As Oil Prices Cross $112 (03:56) China’s Markets Enter Bear Territory (05:39) How Effective Is GIFT City As An Investment Channel? (18:30) Will India Inc Pull The Trigger On Higher Capex And Growth? For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1012 of The Core Report, financial journalist Govindraj Ethiraj talks to Sachin Sawrikar, Managing Partner at Artha Bharat Investment Managers. We also feature an excerpt from our recent episode of our show How India’s Economy Works hosted by Journalist and Author Puja Mehra and featuring Ajay Srivastava, Founder at the Global Trade Research Initiative (GTRI). SHOW NOTES (00:00) Stories of the Day (00:50) More Oil Flowing From Middle East Than Before War (02:30) The Perils Of Buying Venezuelan Crude And Rubio’s Diesel Purchase Pitch To India (04:00) The Rupee Is On Stronger Ground On Fresh Flows Including For Jio IPO (05:42) Power Shortages Are Leading To Cut Backs In Supplies In Gujarat (19:25) Why Some Funds Are Moving Out Of GIFT City For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1011 of The Core Report, financial journalist Govindraj Ethiraj talks to Nishant Arora, Senior Vice President of Marketing at Netcore as well as Nakul Saxena, Business Head - Housing Finance, Kotak Mahindra Bank. SHOW NOTES (00:00) Stories of the Day (00:50) Oil Prices Are In Dangerous Territory (01:26) Rubio Comes To Reliance (04:47) The Last Man Standing In AI Stocks (06:30) Smartphone Sales Crash As Expected (08:41) How Are Indians Buying Online This Festive Season? (19:53) Why Younger Indians Are Buying Houses, Contrary To Popular Perception For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
Should you sell your mutual funds when returns disappoint, or give your investments more time? In this episode of The Core Report Special Edition, financial journalist Govindraj Ethiraj speaks with Swarup Mohanty, Vice Chairman & CEO of Mirae Asset Investment Managers (INDIA), about weak mutual fund returns, stock market uncertainty and what investors should consider before deciding to exit. Swarup Mohanty argues that disappointing returns can reveal a gap between investors’ expectations and their tolerance for risk. He explains why he believes corporate earnings and valuations have improved despite the difficult market environment. Before you sell your mutual funds, he suggests examining what makes you uncomfortable and whether your investments still align with your financial goals. The conversation explores Mirae Asset’s investment approach, its reluctance to chase expensive stocks and why it resisted launching a small-cap fund without the right manager. Mohanty also discusses how new listings have broadened India’s investment opportunities and why he believes the Nifty 500 offers a fuller picture of the Indian stock market than the Nifty 50. Looking beyond large-cap, mid-cap and small-cap categories, Swarup Mohanty examines thematic investing in manufacturing, healthcare, financial services, consumption and energy. He explains how these businesses are evolving and where AI adoption could influence competitiveness. The discussion also explores overseas diversification and the opportunity to own global businesses that are not readily available in India. How should investors combine active mutual funds, ETFs, debt and gold? Mohanty discusses portfolio diversification, the role of gold ETFs and why higher return expectations require a closer look at risk. He explains why retirement planning should begin with the amount an investor needs and the time available, rather than a race to find the highest-performing fund. At the heart of the conversation is a bigger question. Before you sell your mutual funds, are you responding to a change in your financial needs or frustration with recent performance? Mohanty shares why he sees no immediate trigger for a market turnaround, while making the case for goal-based investing, thoughtful asset allocation and reviewing selling decisions as carefully as buying decisions. Chapters: 01:40 Why Investors Chase Past Returns 04:01 Corporate Earnings, Valuations and Market Fundamentals 06:30 Mirae Asset's Long-Term Investment Strategy in India 10:02 Why Mirae Asset Resisted the Small-Cap Rally 11:47 Inside Mirae Asset's Equity, Debt and ETF Portfolio 13:54 India's IPO Boom and the Expanding Mid-Cap Market 16:50 Why the Nifty 50 No Longer Represents the Broader Market 18:51 The Disconnect Between Market Performance and Economic Growth 20:42 Investing Beyond Large-, Mid- and Small-Caps 22:14 Healthcare, Innovation and Emerging Investment Themes 23:42 India's Shift Towards Discretionary Consumption 25:25 The Case for International Equity Diversification 27:11 Mirae Asset's Global Investment Footprint 29:46 Active vs Passive Investing: Building a Balanced Portfolio 33:27 Gold ETFs and Portfolio Diversification 35:02 Market Outlook: What to Expect Over the Next Six Months 36:30 Retirement Planning and the Case for Multi-Asset Investing Watch the full conversation for a deeper understanding of mutual fund returns, long-term investing and how to align your portfolio with your financial goals. Subscribe to The Core Report for conversations on business, the Indian economy and financial markets with Govindraj Ethiraj. #MutualFunds #StockMarket #LongTermInvesting #RetirementPlanning #TheCoreReport #TheCore
On Episode 1009 of The Core Report, financial journalist Govindraj Ethiraj talks to Manas Majumdar, Partner and Leader - Oil & Gas, Fuels & Resources at PWC India as well as Ketan Dalal, Tax Expert and Founder at Katalyst Advisors. SHOW NOTES (00:00) The Take (04:41) Indian IT Stocks Are Beating Chip Stocks (08:05) Why India Is Now A Swing Country In Petroleum Refining (19:55) US Once Again Allows India To Buy Oil From Russia (20:17) How Foreign Investors Face A Double Whammy On Their Capital Gains Tax For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
In this premiere episode of Legacy Forward, financial journalist Govindraj Ethiraj speaks with Arjun Chowgule, MD of Chowgule Group, a century-old business group that has lived through industrial shifts, family transitions, global competition and now, the green transition.Chowgule’s shipbuilding journey began with barges used to transport iron ore along Goa’s rivers. Today, the business builds hybrid vessels for Scandinavian clients. When Arjun took on the shipbuilding business in 2021, the pandemic had strained cash flows and the family had undergone a restructuring. Arjun discusses acquiring the former Bharati Shipyard facility in Mangalore, bringing the shipyard back into operation, investing in its facilities and delivering its first vessel under the new ownership.Behind this manufacturing story is a more personal question. How do you take an inherited business forward while respecting the people who built it?Arjun reflects on family business succession, the cost of prolonged disputes and why he sees stewardship as a duty to employees, customers and future generations. His experience offers a perspective on Indian manufacturing exports, global competition and the decisions that shape a family-owned enterprise.Chapters 01:10 Inside Chowgule’s Goa shipyard02:50 From mining logistics to shipbuilding07:09 Professional management and generational change08:19 Taking charge and winning hybrid vessel orders11:46 Reviving the Mangalore shipyard12:50 Family businesses and customer trust15:48 Meeting overseas technical requirements17:37 Delivering ships during COVID19:19 A new generation takes the helm20:47 Stewardship, ownership and responsibility23:29 Lessons from family business disputes25:15 Succession and the family’s role in business27:12 Building on the work of earlier generationsLegacy Forward is a series that dives deep into how India’s family businesses actually work, the structures, the legacies, and the tensions that come with passing the torch. Produced by The Core, in association with CII - FBN.Producer: ManjooshaEditor: Mandar Sawant#IndianShipbuilding #Chowgule #FamilyBusiness
Indian Railways could turn more than 500 old diesel engines into a new export opportunity as electrification changes the role of its diesel fleet. In this episode of The Core Report Weekend Edition, Financial Journalist Govindraj Ethiraj speaks with Rahul Mithal, Chairman and Managing Director of RITES LTD, about diesel locomotive exports, India’s infrastructure investment and the business of finding new markets for existing railway assets.According to Mithal, more than 500 diesel locomotives have around 15 to 20 years of working life remaining. Refurbishing and adapting these engines for overseas networks could generate revenue for Indian Railways while giving buyers locomotives at around two-thirds the cost of new ones.RITES is targeting opportunities across 11 African countries that use Cape gauge railway networks. Mithal says its first two converted locomotives are ready for shipment, with overseas trials expected to help establish the opportunity. The company has also secured an order for a standard gauge locomotive for Australia.But turning old diesel engines into export winners involves more than changing the wheels. Mithal explains how engineers adapt underframes, bogies, wiring and control systems to make Indian locomotives work on different railway gauges. The commercial potential depends on translating that engineering into reliable products and repeat orders.The conversation also examines why India’s infrastructure projects run over time and budget. Mithal argues that spending more time and resources on Detailed Project Reports could reduce disputes, improve cost estimates and prevent capital from getting locked up in delayed projects.Artificial intelligence could help improve both planning and quality control. RITES is developing a tool using its archive of more than 5,000 project reports and has introduced VISTAR, an AI inspection system for rails during manufacturing.Beyond diesel locomotive exports, Mithal discusses plans to develop Vande Bharat trains for standard gauge export markets and pursue electric locomotive export orders. He also explains how the India–UAE virtual trade corridor could improve cargo information exchange, customs clearance and port efficiency.Could engines that India needs less become valuable assets in overseas markets?Watch the full conversation for insights into Indian Railways, RITES, locomotive refurbishment, railway exports, infrastructure planning, Vande Bharat, artificial intelligence, the IMEC corridor and India’s logistics economy.Chapters01:05 RITES' Role in India's Infrastructure Development02:59 Diversifying Beyond Indian Railways04:12 Order Growth and Global Expansion05:48 High-Speed Rail, Metro and Infrastructure Projects07:36 Why Infrastructure Projects Face Cost Overruns09:49 Challenges in Detailed Project Planning11:26 Using AI to Improve Project Reports13:51 The Economic Cost of Poor Infrastructure Planning15:30 Improving Project Design and Execution17:10 Converting Indian Locomotives for Export19:43 The Engineering Behind Locomotive Conversion21:40 Understanding India's Railway Gauge Network22:39 AI, Rail Safety and Network Modernisation25:25 Upgrading Tracks for Higher-Speed Trains27:56 Electric Locomotives and Vande Bharat Exports29:23 The Shift Towards Multimodal Infrastructure Corridors31:19 India-UAE Trade Corridor and the MAITRI Initiative33:21 How Digital Trade Corridors Can Speed Up Cargo Movement35:31 Balancing Road and Rail Freight37:14 Vande Bharat and the Future of Intercity Travel39:26 Why India Needs Integrated Transport PlanningCan Indian Railways turn old diesel engines into export winners? Govindraj Ethiraj speaks with RITES CMD Rahul Mithal on The Core about diesel locomotive exports, locomotive refurbishment, Vande Bharat exports and artificial intelligence in infrastructure planning. Could engines India needs less unlock new markets abroad?#IndianRailways #RITES #VandeBharat #RailwayExports
On Episode 1006 of The Core Report, financial journalist Govindraj Ethiraj talks to Amit Goel, Co-Founder & Chief Global Strategist at PACE 360 as well as Bhavesh Jain, Managing Director & CEO at TransUnion CIBIL. SHOW NOTES (00:00) Stories of the Day (00:50) Why Indian Markets Jumped A 1,000 Points On Thursday (05:35) Could There Be More Cross Border Energy Deals Between India And The US? (16:05) How Oil Transport Costs Are Spiking And Now In Focus (18:33) Direct Tax Collections Are Up, So Are Refunds (19:39) A Quick Glance At India’s Credit Health With TransUnion CIBIL For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1005 of The Core Report, financial journalist Govindraj Ethiraj talks to Vishal Mehta, India Leader – Energy Practice at Boston Consulting Group (BCG) as well as Harsh Roongta, Founder at Fee Only Investment Advisers LLP. SHOW NOTES (00:00) Stories of the Day (00:50) Goldman’s Big Prediction For Indian AI Stocks (03:15) Rupee Continues To Rise As RBI Battles Speculation (04:56) Wholesale Inflation Jumps (07:21) India’s Energy Grid Is Seeing Big Shortages, What Is The Way Out? (17:17) The Insurance Industry Has Pushed Back On The Regulator's Proposals On Slashing Distributor Commissions. Where Will The Meeting Point Be? For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1004 of The Core Report, financial journalist Govindraj Ethiraj talks to Madan Sabnavis, Chief Economist at Bank of Baroda Research as well as Amir Durrani, President Global Application, Business Process Services and Data practice at NTT DATA Inc. SHOW NOTES (00:00) Stories of the Day (00:50) Why IT Stocks Are Bouncing Back (01:32) Talk Of A Revisit Of Capital Gains Tax Rates On Investors Boosts Markets Again (06:03) What Could The Future Indian IT Services Companies Look Like? (14:36) What The Nobel Prize For Economics For This Year Recognises And What Does It Mean From An India Lens (23:09) Anthropic Says AI Is Months Away From Replicating Across Home Devices For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1003 of The Core Report, financial journalist Govindraj Ethiraj talks to Aditi Nayar, Chief Economist at ICRA Ratings as well as Anindya Banerjee, Head of Research at Kotak Neo. SHOW NOTES (00:00) The Take (00:50) Large Caps Continue To Take A Beating, Reliance Hits 18-Month Low (03:04) Mutual Fund Inflows Hit Fresh Records (03:58) Why China’s Gold Strategy Is Important To Note (04:59) Why Inflation Is Nearing A 2-Year High (12:33) Is The RBI’s Strategy Of Reducing Speculation On The Rupee Working? (19:29) The Latest Nobel Prize For Economics Goes To… For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1002 of The Core Report, financial journalist Govindraj Ethiraj talks to Srikanth Velamakanni, Chairperson of industry body Nasscom and Co-Founder and Group CEO at Fractal Analytics. SHOW NOTES (00:00) The Take (06:17) Markets Could Come Under Pressure From Fresh West Asia Tensions (09:24) Why Heavy FPI Selling, Including $4.5 Billion This Month, Will Challenge RBI’s Moves To Lift The Rupee (11:26) A US Clampdown On Indian Tech Workers Puts The Spotlight Back On The Country’s AI Skills (24:18) Why Microsoft's Satya Nadella Wants To Put Brakes On AI For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
Why did IKEA pause its expansion in India, and what has changed now? Is IKEA an affordable furniture brand or an He also addresses whether IKEA charges more in India, explains the company's €400 million sourcing operations in the country, and reveals why he sees similarities between IKEA's position in India today and its growth journey in Russia 15 years ago. As India's retail market evolves, can IKEA balance affordability, aspiration and expansion while adapting to changing consumer preferences? Watch the full conversation for insights into IKEA's India strategy, furniture retail, manufacturing, sourcing and the future of organised retail in India. For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 1000 of The Core Report, financial journalist Govindraj Ethiraj talks to Ajay Rotti, CEO at Tax Compaas and Prashant Agarwal, Indirect Tax Partner at PWC. We also feature an excerpt from our recent Special Edition featuring Swati Khemani, Founder and CEO at Carnelian Capital. SHOW NOTES (00:00) Stories of the Day (01:09) Why The Sensex Has Hit A Near Three Year Low (04:07) A Merchant Charge On UPI Payments Is Being Delayed (04:43) Elon Musk’s Strange Accusation On Indian Oligarchs (06:12) Why The Latest Announcements On GST Are Important (20:06) Why Taking Bets On Company Leadership Is Important In Stock Picking For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 999 of The Core Report, financial journalist Govindraj Ethiraj talks to Radhika Rao, Senior Economist and Executive Director at DBS Bank as well as Dharmakirti Joshi, Chief Economist at CRISIL. SHOW NOTES (00:00) Stories of the Day (00:50) Markets Turn Around As Oil Prices Rise (03:40) What Does The RBI Rate Hike Really Mean? (15:52) The Silent Shift In India’s Exports And Guess Which Country Is The Biggest Recipient Of This Product (23:11) Google Says They Have Fallen Short Of Their Own High Standards As Finland Suspends Data Centre Projects For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 998 of The Core Report, financial journalist Govindraj Ethiraj talks to Saharsh Damani, CEO at FADA as well as Abhishek Gupta, Founder, Managing Partner, Pierag Consulting. SHOW NOTES (00:00) Stories of the Day (00:50) Crude Oil Is Flowing Out Of West Asia But Not Refined Products Like Diesel (02:53) Markets Continue Recovery As Oil Prices Fall (05:17) Power Demand Is Rocketing As Country’s Second Summer Kicks In (06:32) India Sees Record Auto Sales In September Across Most Categories (16:23) Are GCCs Consolidating Back Into IT Services Companies? For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 997 of The Core Report, financial journalist Govindraj Ethiraj talks to Madan Sabnavis, Chief Economist at Bank of Baroda Research as well as Amit Pabari, Managing Director at CR Forex. SHOW NOTES (00:00) Stories of the Day (00:50) A Trade Deal With The US Appears Distant And Near Impossible Now (04:47) Could RBI Hold Rates In Its Credit Policy This Week And Why? (14:13) Airlines Are Raising Fares Again (15:01) Battle Between Airlines And Mumbai Airport Intensifies As The Airlines Oppose A Forced Shift To Navi Mumbai (18:12) The Rupee Is Under Pressure Once Again. Where Could It Go Next? For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 996 of The Core Report, financial journalist Govindraj Ethiraj talks to Umesh Revankar, Executive Vice Chairman at Shriram Finance Limited (in an excerpt from our Special Edition) as well as Shankkar Aiyar, economic journalist, columnist and author. SHOW NOTES (00:00) The Take (04:34) Oil Prices And Bond Yields Will Determine If Weak Markets Can Recover (06:13) India’s Foreign Exchange Reserves Fall The Highest On Record Last Week (07:14) Why Non Banks Continue To Show Credit Growth, Particularly In The MSME Sector (16:09) Consumption Will Drive India’s Growth But What Do We Know Of Its Trajectory? Register for our event “Don’t Miss a Beat: The Hidden Risks to Indians” For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
India has built one of the world’s largest pharmaceutical industries. But scale alone is no longer enough. In this episode of The Core Report: Weekend Edition, Govindraj Ethiraj speaks with Manish Sabharwal, Chairman and Co-founder of TeamLease Services, about what India’s pharma success can teach the rest of the economy and why the country still struggles to turn entrepreneurial ambition into globally competitive companies. Drawing from Made in India, the book on Lupin founder D.B. Gupta, Sabharwal discusses how Indian pharma moved from a licence-era industry to a global manufacturing force, why the next challenge is shifting from volume to value, and what is still holding back innovation, manufacturing and productivity. The conversation also explores India’s unfinished deregulation agenda, why capital is no longer the biggest constraint for businesses, the need for stronger governance and professional management, and why Indian companies may have to choose focus over excessive diversification. Sabharwal also makes the case that India’s larger economic challenge is not simply creating more jobs, but creating more productive, better-paying jobs and moving millions of workers from low-productivity agriculture into higher-value sectors. The episode is ultimately about a bigger question: What will it take for India to build more companies that can scale, innovate and compete globally? Register for our event “Don’t Miss a Beat: The Hidden Risks to Indians” For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 994 of The Core Report, financial journalist Govindraj Ethiraj talks to K. Ravichandran is the Executive Vice President and Chief Rating Officer at ICRA Limited as well as Vaiibhavv Chugh, CEO at Abakkus Mutual Fund. SHOW NOTES (00:00) Stories of the Day (01:22) Oil Flows Through The Strait Of Hormuz Are Only 11% Shy Of The Pre-War Peak (05:12) The Sensex Has Fallen 20% This Year In Dollar Terms, Steepest In 15 Years (06:36) India Sees Lowest Rainfall In Decade (06:58) How 74% Of Indian Entrepreneurs Want To Live Elsewhere (07:33) India Should Convert Macroeconomic Resilience Into Sustained Economic Momentum, Says S&P Global Ratings (09:28) Indian Companies Have Strong Balance Sheets Going Into The Second Half (21:09) Why Stock Selection Is Going Beyond The Classic Large Cap And Small Cap Definition Register for our event “Don’t Miss a Beat: The Hidden Risks to Indians” For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 993 of The Core Report, financial journalist Govindraj Ethiraj talks to Peter McGuire, CEO of Trading.com Australia and Chief Market Strategist for the Asia-Pacific region at XM as well as Shriram Subramanian, founder and managing director at InGovern Research Services. SHOW NOTES (00:00) Stories of the Day (01:15) Why Indian Markets Have Gone Back 25 Years (03:26) What The Combination Of High Oil Prices And Rising Bond Yields Means For Capital Flows (12:11) Essar Group Is Back With $18 Billion Steel Project, But In The USA (14:36) How Foreign Investors Are Buying Into Real Estate (15:46) And The Logjam Within Logjams As Tata Trusts Comes Up With Merger Proposal To Save Tata Sons From Listing Register for our event “Don’t Miss a Beat: The Hidden Risks to Indians” For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 992 of The Core Report, financial journalist Govindraj Ethiraj talks to Jaya Dhindaw, Executive Program Director, Sustainable Cities and Director at WRI India Ross Center as well as Kanan Bahl, Founder at Fingrowth Media. SHOW NOTES (00:00) Stories of the Day (01:16) Why Oil Price Uncertainty Will Continue To Batter Markets (03:20) The List Of Prominent Companies’ Stock Price Hitting 52-Week Lows Is Growing (05:16) What’s Driving A Rise In India’s Index Of Industrial Production (IIP)? (08:05) How And Why India Should Revisit Its Very Definition Of Urbanisation? (20:07) India’s Insurance Regulator Sends The Industry Scurrying And Stockprices Falling. What’s Next? Register for our event “Don’t Miss a Beat: The Hidden Risks to Indians” For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 991 of The Core Report, financial journalist Govindraj Ethiraj talks to Indrani Bagchi, CEO at Ananta Aspen Centre. SHOW NOTES (00:00) The Take (04:44) Oil Prices And Stalemate In West Asia Will Determine Market Direction This Week (07:26) Get Set For Price Rises Across The Economy (09:26) Government Asks Businesses With Captive Power Plants To Work At Full Capacity And Sell Surplus Power (10:44) What Does The US-China Bonhomie In Washington Mean For India? Register for our event “Don’t Miss a Beat: The Hidden Risks to Indians” For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
The global economy is shifting from low-cost manufacturing towards secure and resilient supply chains, changing how capital flows across emerging markets. In this episode of The Core Report Special Edition, Govindraj Ethiraj speaks with Jahangir Aziz, Co-Head of Macroeconomic Research, J.P. Morgan, about India's foreign investment challenges and its opportunity to position itself as a secure manufacturing alternative to China. The conversation examines India's dependence on Chinese inputs in pharmaceuticals, semiconductors and other critical industries, and why Aziz argues for a shift from ease of business to “safety of business.” They also discuss emerging-market investment, US economic growth, the emergence of new industries and AI's impact on jobs and wages. Register for our event “Don’t Miss a Beat: The Hidden Risks to Indians” For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 989 of The Core Report, financial journalist Govindraj Ethiraj talks to G Chokkalingam, Founder at Equinomics Research as well as Vivek Merchant, Director at Swan Defence and Heavy Industries Limited (SDHI) from our extended Special Edition interview. SHOW NOTES (00:00) Stories of the Day (01:13) Liquidity Stretched Markets Take A Dive On Bank Bad News (01:40) US President Donald Trump Does An Airport Greeting For Chinese President Xi Jinping (05:48) Why The Indian Markets Crashed On Thursday (16:24) How India’s Shipbuilders Are Scouring The Globe For Orders And Winning Them Too (26:30) The US Is Investing $10.3 Trillion In Ai And Data Centers In The Next 6 Years, The Largest Capex In History Register for our event “Don’t Miss a Beat: The Hidden Risks to Indians” For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 988 of The Core Report, financial journalist Govindraj Ethiraj talks to HP Ranina, Supreme Court advocate, chartered accountant, and expert on Indian tax and corporate laws. SHOW NOTES (00:00) Stories of the Day (01:13) Oil Prices Steady As Markets Watch US-Iran Talks In New York (02:04) Why A Diesel Shortage In The West Could Become A Global Challenge (05:52) A Fresh Bull Case For Gold (08:06) Does The Reserve Bank Have The Powers To Force A Company To List, In This Case Tata Sons? Register for our event “Don’t Miss a Beat: The Hidden Risks to Indians” For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 987 of The Core Report, financial journalist Govindraj Ethiraj talks to Rajiv Batra, Head of Asia & Co-Head of Global Emerging Markets Equity Strategy and Chief India Equity Strategist at J.P. Morgan as well as Nikhil Dubey, Senior Research Analyst, Refining & Modeling at Kpler. SHOW NOTES (00:00) Stories of the Day (01:17) Iran Makes Fresh Overture For Peace Even As UN General Assembly Kicks Off In New York (02:42) Indian Markets Slide On Weak Support And Continuous Liquidity Pressure From IPOs (04:58) JP Morgan Chief Says Indian Govt Should Not Allow Companies To Use Regulation To Block Competition (07:03) Why Global Investors Are Preferring Midcaps And What Is Keeping Them Away From Large Caps (27:29) Will India Be Affected By The Global Diesel Shortages? Register for our event “Don’t Miss a Beat: The Hidden Risks to Indians” For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 986 of The Core Report, financial journalist Govindraj Ethiraj talks to Vivek Lohia, Managing Director of Jupiter Wagons. We also feature an excerpt from our recent Special Edition featuring Dr. Rajiv Kumar, former Vice Chairman of NITI Aayog and Chairman of Pahle India Foundation. SHOW NOTES (00:00) Stories of the Day (00:50) UN General Assemby Meets In New York, Will It Provide The Path To Peace Oil Prices Fall And Indian Markets Rise (03:18) What Bernstein Does Not Like About Older Large Cap Indian Companies (05:11) Coal Stocks Are Running Low (07:24) The Western Dedicated Freight Corridor Is Fully Commissioned (18:36) How India Can Step Up To Receive More Chinese Investments Register for our event “Don’t Miss a Beat: The Hidden Risks to Indians” For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 985 of The Core Report, financial journalist Govindraj Ethiraj talks to Hetal Dalal, President and COO at IiAS as well as Abizer Diwanji, Founder at NeoStrat Advisors. SHOW NOTES (00:00) The Take (04:41) Markets Brace For A Tough Week With War Intensifying In Multiple Theatres (08:25) Direct Tax Collections Continue To Rise (09:41) Did The Tata Sons Board Overstep Its Authority In Reappointing Chandrasekaran (18:18) Which Way Could The Tata Group Battle For Control Evolve And What’s At Stake Register for our event “Don’t Miss a Beat: The Hidden Risks to Indians” For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
Retail investors often discover how much risk they have taken only after a trade goes wrong. What can they learn from institutional investors about managing money before that happens? In this episode of The Core Report Special Edition, financial journalist Govindraj Ethiraj speaks with Sandeep Nayak, Managing Director and CEO of Centrum Finverse, about why retail investors lose money, how emotions influence investment decisions and what a disciplined approach to wealth creation involves. Sandeep Nayak examines the gap between entering the stock market to build long-term wealth and getting drawn into trading for quick profits. He explains why understanding potential losses, assessing the risk-reward ratio and controlling position sizes should come before placing a trade. The conversation also explores options trading, the use of data and analytics, and why access to trading tools needs to be accompanied by investor education. Institutional investors typically follow an asset allocation strategy and a defined investment process. Sandeep Nayak explains what individuals can learn from that discipline, particularly when market corrections trigger fear or rising prices encourage investors to chase returns. He discusses time in the market versus timing the market, the power of compounding and the difficulty of staying patient when returns disappoint. The discussion moves beyond stock selection to portfolio diversification across equities, mutual funds, fixed income and gold. Sandeep Nayak outlines why investment choices need to reflect financial goals and time horizons. Govindraj Ethiraj also questions the relationship between brokerage revenues from active trading and the industry’s responsibility towards customers building long-term portfolios. The conversation explores global investing for Indian investors, including overseas ETFs, US stocks and opportunities in artificial intelligence, semiconductors and data centres. Sandeep Nayak explains why geographic diversification should extend beyond a fashionable theme, and why valuations, ETF premiums to net asset value and tax considerations matter when investing overseas. At the heart of the conversation is a personal question. When markets turn against you, are your investment decisions guided by a plan or by the fear of losing money? Sandeep Nayak discusses how oversized positions can turn greed into panic, and why separating useful research from social media noise is central to a more disciplined investment approach. Chapters 00:56 Why Retail Investors Lose Money Trading 03:35 Understanding Risk Before Entering a Trade 05:13 Building a Multi-Asset Investment Portfolio 09:00 How Thematic Investment Baskets Work 10:18 Why Trading Should Be Treated as a Science 12:25 India’s New Generation of Retail Traders 14:52 What Retail Investors Can Learn From Institutions 18:19 SEBI’s Response to Retail Trading Losses 20:53 Building a Balanced Asset-Allocation Strategy 23:05 Trading Revenues Versus Long-Term Wealth Creation 25:49 Investing During Market and Geopolitical Stress 28:06 Why Indian Investors Need Global Diversification 34:04 How to Invest When Markets Remain Flat 36:40 India’s Long-Term Growth and Wealth-Creation Story 38:50 Managing Fear, Greed and Investment Decisions Watch the full conversation to understand the differences between retail and institutional investing, the role of risk management and asset allocation, and how the pursuit of quick profits can disrupt a long-term investment plan. Are your investments following a plan or your emotions? Watch Govindraj Ethiraj and Sandeep Nayak on The Core Report explore what retail investors can learn from institutional investors about asset allocation, risk management and portfolio diversification. Discover how fear, greed and options trading can disrupt long-term wealth creation. Subscribe for more stock market conversations. #RetailInvestors #Investing #StockMarket #StockMarketNews #TheCoreReport #TheCore
Why are Indian business leaders investing in nature? Harish Yarlagadda, Shloka Nath and Dr Ravi Mariwala explore how climate philanthropy, biodiversity conservation and water security connect to India’s economic future.In this episode of The Core Report Weekend Edition, Govindraj Ethiraj speaks with Harish Yarlagadda, founder and chief mentor of Malakshmi Group and co-founder of Dharmavana Nature Arc, Shloka Nath, former CEO of India Climate Collaborative, and Dr Ravi Mariwala, founder and CEO of Smart Water and a promoter at Marico.Yarlagadda shares why he moved away from fossil fuel power plants to focus on biodiversity restoration. His 400-acre project involves collecting seeds, conserving threatened plants and protecting the soil, fungi and insects that sustain ecosystems. His experience raises a question for businesses investing in nature. What does conservation require beyond planting trees?Mariwala explains how building a home outside Mumbai exposed gaps in water access and led him to develop water management solutions. He discusses sewage treatment, wastewater reuse, rainwater harvesting and groundwater recharge, and why the right technology matters more than the most sophisticated one.The conversation explores nature-based solutions that use plants and bacteria to treat wastewater. It also connects water security with energy consumption, agriculture and public health, examining how filtration, efficient pumps and better maintenance can address everyday challenges.Nath explains why climate change cannot be separated from India’s development agenda. She discusses how philanthropic capital can fund experiments, build evidence and attract public and private investment. The challenge is connecting individual projects with the institutions and expertise needed to expand their impact.The panel examines how Indian business leaders can use CSR funding, land and operational expertise to support biodiversity and climate resilience. They also discuss a just transition, asking who owns renewable energy infrastructure, who benefits from new jobs and whose livelihoods need protection.At the heart of the conversation is a bigger question. Can investing in nature help India build lasting prosperity while protecting the foundations of its growth?Watch the full conversation for insights on climate philanthropy in India, biodiversity restoration, water conservation, CSR funding, nature-based solutions and sustainable development.Chapters00:00 Why Indian Business Leaders Are Investing in Nature01:18 Climate Change and India’s Development02:59 What Climate Philanthropy Is Missing04:38 From Fossil Fuel Power to Biodiversity07:20 Why Planting Trees Is Not Enough08:30 How a Water Problem Became a Business13:10 Sewage Treatment and Water Reuse15:39 Groundwater Recharge and Water Security18:23 How Philanthropy Can Unlock Climate Solutions21:46 Rethinking CSR and Responsibility to Nature23:20 A Ministry of Climate Resilience?24:31 Preparing for Climate Shocks26:45 Understanding Ecological Risk28:35 Building a 400-Acre Biodiversity Project30:57 Collecting Seeds and Restoring Ecosystems32:30 A Living Laboratory for Biodiversity36:26 Choosing the Right Water Technology41:06 Filtration, Rainwater Harvesting and Pumps43:33 How Businesses Can Support Biodiversity46:44 CSR, Watersheds and Mangroves48:29 What Climate Philanthropy Should Fund Next52:49 Who Benefits From the Green Transition?53:46 Consumption and Corporate Responsibility#TheCoreReport #IndianBusiness #Biodiversity #WaterSecurity #ClimateChange #TheCore
On Episode 982 of The Core Report, financial journalist Govindraj Ethiraj talks to Anuj Kapoor, Managing Director and CEO, Private Wealth at JM Financial in an excerpt from our Special Edition as well as Ratan Kumar Kesh, Executive Director & COO at Bandhan Bank. SHOW NOTES (00:00) Stories of the Day (00:50) India Puts Its Foot Down On Potential US Tariff Threat On Russian Oil Purchases (04:00) Markets Flat As They Digest Falling Oil Prices (05:27) The Tata Group’s Squabbles Have Blown Into A Full-Blown Public Spat (08:47) Managing Wealth Through Transition, A Wealth Manager’s View (20:24) How The Banking System Lifts Marginalised Businesses To Grow, New Insights For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 981 of The Core Report, financial journalist Govindraj Ethiraj talks to Dr. Mayur Shah, Head of the Rare Diseases Business at Sanofi India as well as Namit Chugh, Director at HealthQuad. SHOW NOTES (00:00) Stories of the Day (00:50) EU Invites Canada To Become Its First Associate Member (03:44)US War With Iran Has Cost $38 Billion Till August And Still Rising (04:26) Oil Prices Ease, The Markets Rise (06:00) Will The Tata Sons Ask N Chandrasekaran To Stay On As Chairman? (07:02) How AI Is Changing Clinical Practices As Well As Hospital Systems For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 980 of The Core Report, financial journalist Govindraj Ethiraj talks to Ajay Rotti, Tax Expert and CEO of tax advisory firm Tax Compaas as well as Rajeswari Sengupta, Associate Professor of Economics at the Indira Gandhi Institute of Development Research (IGIDR). SHOW NOTES (00:00) Stories of the Day (01:00) Why Indian Markets Are Getting Battered Right Now (03:46) India’s Exports Are Up 26% In August (05:22) UPI Will Not Be Free Any More, So You Will Have To Pay 0.4% On Transactions Above Rs 2,000. (08:08) Tata Sons Is Set To Go To Court Against The RBI’s Move Asking It To Go Public, Does It Have A Case? (16:43) Banks May See Additional Costs For FCNR B Deposits, What Are The Options Ahead? For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 979 of The Core Report, financial journalist Govindraj Ethiraj talks to Pranav Haldea, Managing Director at Prime Database as well as Atanu Mukherjee, CEO at Dastur Energy. SHOW NOTES (00:00) Stories of the Day (00:50) AI Stocks Take A Dive Following Slow-Down Appeal From Anthropic CEO (06:04) Tata Sons and the RBI (07:51) Big IPO Week Ahead, What Is Standing Out In The Rs 100,000 Crore Rush? (17:10) India Invites Companies To Set Up Coal Gasification Plants, Why Is This Critical? For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
On Episode 978 of The Core Report, financial journalist Govindraj Ethiraj talks to Indrani Bagchi, CEO at Ananta Aspen Centre as well as Dipti Deshpande, Principal Economist at CRISIL Limited. SHOW NOTES (00:00) The Take (03:33) Key Developments At The BRICS Summit In New Delhi (12:54) Monsoon Worries (19:08) Anthropic CEO AI warns of Rapid AI development For more of our coverage check out thecore.in Follow us on: Twitter | Instagram | Linkedin | Youtube
Why does your mutual fund earn more than you do? In this episode of The Core Report Special Edition, financial journalist Govindraj Ethiraj speaks with R Sivakumar, Chief Investment Officer at Axis Mutual Fund, about why investor returns can lag mutual fund returns, how chasing past performance contributes to the gap and why SIPs have not eliminated it.R Sivakumar explains how investors can miss a fund’s strongest performance by entering after a rally and pulling back during weaker periods. Buying the best-performing mutual funds based on recent rankings may feel reassuring, but the timing of those investments can produce a very different outcome. He discusses why systematic investment plans help contain this behaviour without fully resolving it.The conversation explores why asset allocation should come before fund selection. R Sivakumar examines the balance between equity and debt, the case for global diversification and the distinction between overseas equity exposure and currency diversification. He also discusses private credit, private equity and real estate investment trusts, or REITs, including the additional risks behind potentially higher returns.Govindraj Ethiraj and R Sivakumar examine the Indian stock market outlook, corporate earnings and the changing opportunities across large-cap stocks, manufacturing and exports. Sivakumar explains why he sees scope for an earnings recovery and how private sector capital expenditure and globally competitive Indian companies could shape future investment themes.The Axis Mutual Fund CIO also discusses the pressures facing banking stocks, the influence of global investment flows and the challenge of navigating an expanding range of financial products. He identifies an advice gap between being able to buy an investment and understanding whether it belongs in your portfolio.At the heart of the conversation is a bigger question. If investors have more data and more choices than ever, why do mutual fund returns and investor returns still diverge? Sivakumar connects that gap to investment behaviour and explains why booking profits and building long-term wealth are different goals.Chapters:Watch the full conversation to understand the gap between mutual fund returns and investor returns, the role of portfolio diversification and why chasing the latest winner can distract from a long-term investment plan.Why does your mutual fund earn more than you do? Watch Axis Mutual Fund CIO R Sivakumar and Govindraj Ethiraj on The Core Report explore why investor returns lag mutual fund returns, how chasing past performance hurts, and what SIPs, asset allocation and portfolio diversification mean for long-term wealth building.#MutualFunds #SIP #AssetAllocation #TheCoreReport #TheCore
Is ₹10 lakh health insurance enough for your family? In this episode of The Core Report Weekend Edition, financial journalist Govindraj Ethiraj speaks with Mayank Bathwal, CEO, Aditya Birla Health Insurance Co. Ltd., about rising healthcare costs, medical inflation and whether family health insurance is keeping pace with the treatment people expect.Mayank Bathwal says medical inflation has consistently run at 10–12%, making ₹10 lakh and ₹15 lakh health insurance covers increasingly common. He explains why families need to consider future healthcare expenses when assessing coverage, as newer treatments and changing patterns of illness reshape the cost of care.The conversation explores whether health insurance can move beyond what Mayank Bathwal calls “sickness funding”. He discusses preventive health checkups, outpatient care, cashless consultations and wellness incentives designed to encourage healthier behaviour. He also explains why OPD cover, vaccinations and maternity benefits present different pricing challenges and vary across policies.Govindraj Ethiraj asks why health insurance claims still cause frustration. Mayank Bathwal discusses waiting periods, pre-existing conditions, exclusions and the gap between what customers expect and what their policies cover. He acknowledges that efforts to detect fraud can create friction for genuine claimants, making clearer communication and a better claims experience essential.The discussion also examines what younger consumers want from health insurance. Mayank Bathwal explains why regular benefits such as OPD care and wellness rewards can make policies more relevant to people who do not expect to need hospital treatment. He also discusses how younger policyholders can help balance the insurance risk pool and support affordability.Govindraj Ethiraj and Mayank Bathwal explore family health insurance, medical inflation, rising premiums, cashless hospital networks, lifestyle-related claims and the challenge of reaching India’s underinsured population. They also discuss Bima Sugam and why both distribution expenses and healthcare delivery costs matter when making insurance more affordable.At the heart of the conversation is a bigger question. Is ₹10 lakh health insurance enough, or should families look more closely at what their policy covers, how claims are handled and how their needs could change?Chapters:00:00 Health Insurance in India and Rising Medical Costs00:55 Introducing Mayank Bathwal, Aditya Birla Health Insurance CEO01:03 Health Insurance Beyond Hospital Bills03:16 What Is Standalone Health Insurance?05:56 How Health Insurance Benefits Are Changing07:41 Medical Inflation and the Need for Higher Cover09:14 Is ₹10 Lakh Family Health Insurance Enough?11:07 Wellness Rewards and Health Insurance Premium Benefits13:25 OPD Coverage, Cashless Care and Reimbursement15:31 Does Health Insurance Cover Vaccinations and Maternity?17:00 How Lifestyle Diseases Are Changing Insurance Claims19:46 Healthcare Costs and Future Insurance Needs22:37 How Hospital Costs Affect Health Insurance Premiums25:26 Cashless Health Insurance and Hospital Networks26:25 Why Health Insurers Need Young Policyholders28:50 Health Insurance for Young Adults and Wellness Benefits30:41 Premium Discounts During Overseas Travel31:40 Bringing More Young Indians Into Health Insurance32:40 How Age and Claims Affect Insurance Pricing33:57 Why Young Customers Renew or Drop Health Insurance35:01 Affordable Health Insurance and India’s Missing Middle36:35 Can Bima Sugam Help Make Insurance More Affordable?37:43 Insurance Claims, Waiting Periods and Customer Trust38:53 Wellness and Preventive Health in Insurance41:27 Mayank Bathwal’s Fitness, Sleep and Wellness RoutineIs ₹10 lakh health insurance enough for your family? Govindraj Ethiraj and Mayank Bathwal explore medical inflation and insurance claims on The Core Report.#HealthInsurance #FamilyHealthInsurance #TheCoreReport #TheCore
