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Speaking to CNBC's Inside India, Kohli noted that India's wealthy now come from a swathe of industries. India's stock market became the fourth-largest in the world at the start of the year, after overtaking Hong Kong. Meanwhile, those whose wealth that falls between 10 to 50 million Indian rupees are in the affluent category, he added. Historically, India's wealthy had a median age exceeding 50. Drivers of India's wealthThe growth in India's wealthy population comes in tandem with the nation's economic progress.
Persons: Ratan Tata, Waterfield, Ratan Tata —, Ambani, Himanshu Kohli, Kohli, Pramod Gubbi, Marcellus, Lee, Gubbi, Knight Frank, What's, Malcolm Dorson, Dorson Organizations: Tata Group, Fortune India, Tata Sons, Tata Steel, Tata Consultancy Services, Tata Motors, Titan Company, Marcellus Investment, Lee Kuan Yew, of Public, National University of Singapore, Bombay Stock Exchange, Global, Volvo, Apollo Locations: India, Tata, CNBC's, Hong Kong, Pune, Hyderabad, Ahmedabad, Chennai, U.S
Interest in India has been rising steadily among investors, thanks to its growing economy , strong stock market performance and burgeoning population . Amid some talk of an Indian stock market bubble , however, Pramod Gubbi, co-founder of Marcellus Investment Managers, revealed how he is playing the market. So, our job is to evaluate whether the management teams are hungry enough to identify changes that are happening and adapt to them," he told CNBC Pro last week. Women-led themes One theme that Gubbi is interested in is how India's growing numbers of working women are spending their money. Other stocks Other Indian companies Gubbi likes include Divi's Laboratories and HDFC Bank .
Persons: Pramod Gubbi, Marcellus, Gubbi, Maggi, Nescafe Organizations: Marcellus Investment, Management, CNBC Pro, Bombay Stock Exchange, Tata Group, Brands, Nestle, , Paints, Divi's Laboratories, HDFC Bank, Novartis, GSK, Merck Locations: India, U.S, China
The NSE Nifty 50 index (.NSEI) rose as much as 0.52% to 20,238.45, a new record high, while the S&P BSE Sensex (.BSESN) was up 0.44% at 67,286.16, as of 9:35 a.m. IST. "India's growth outlook remains positive, with various capex initiatives of the government likely to trigger consumption at the bottom of the pyramid," Pramod Gubbi, founder of Marcellus Investment Management, said. India's Nifty and Sensex posted their best month in 2023 in November, aided by the return on foreign portfolio investor (FPI) inflows. India's general elections are due early next year. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema and Mrigank DhaniwalaOur Standards: The Thomson Reuters Trust Principles.
Persons: Francis Mascarenhas, Gubbi, India's, Sensex, Madhavi Arora, Bharath Rajeswaran, Sonia Cheema Organizations: National Stock Exchange, REUTERS, Rights, NSE, BSE, Reuters, Reserve Bank, Marcellus Investment Management, Wall, Dow Jones, Bharatiya Janata Party, BJP, Indian National Congress, Emkay Global Financial Services, Thomson Locations: Mumbai, India, U.S, Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana, Bengaluru
BENGALURU, Nov 6 (Reuters) - Foreign portfolio investors (FPIs) sold Indian equities worth 245.48 billion rupees ($2.95 billion) in the month of October, the most in nine months, data from the National Securities Depository (NSDL) showed. WHAT FPIs SOLD IN OCTOBERFinancials witnessed the most FPI selling in October to the tune of 118.04 billion rupees. FPIs had bought shares worth 555.79 billion rupees in the sector between April and July. Information Technology (IT) stocks saw outflows worth 32.62 billion rupees, amid weak results, elevated U.S. Treasury yields and rate concerns in the U.S. ($1 = 83.1810 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.
Persons: Reuters Graphics FPIs, Pramod Gubbi, Financials, FPIs, Bharath Rajeswaran, Nivedita Organizations: National Securities Depository, Reuters Graphics, Treasury, Marcellus Investment Management, Information Technology, U.S ., U.S, Reuters, HSBC, Thomson Locations: BENGALURU, India, U.S, Bengaluru
BENGALURU, Feb 28 (Reuters) - Indian shares swung between gains and losses on Tuesday, as gains in auto and media stocks were mostly offset by a slide in metals, ahead of the domestic GDP data for the December quarter. Eight of the 13 sectoral indexes advanced with auto stocks (.NIFTYAUTO) adding nearly 1% ahead of the monthly sales numbers, due on Wednesday. Foreign portfolio investors have so far offloaded 325.18 billion rupees ($3.93 billion) worth of Indian equities in 2023, according to official data. Investors now await domestic GDP data for the December quarter, due later in the day, which is expected to show year-on-year growth slowing to 4.6%. ($1 = 82.7150 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.
Why Indian markets are 'moving ahead of fundamentals'
  + stars: | 2019-12-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Indian markets are 'moving ahead of fundamentals'Pramod Gubbi of Marcellus Investment Managers says Indian markets are "clearly" moving ahead of fundamentals in anticipation of more reforms and stimulus announcements, which could include a personal tax cut.
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