#911 India’s Stock Market Through A Bottom Up Investing Lens | Govindraj Ethiraj | The Core Report

India’s stock market through a bottom up investing lens is the focus of this episode of The Core Report Special Edition, where financial journalist Govindraj Ethiraj is in conversation with Rakesh Vyas, CIO & Portfolio Manager at Quest Investment Managers.Where will India’s next stock market returns really come from?Beyond oil prices, geopolitics, inflation, the rupee and global uncertainty, this conversation looks at India’s equity market from the ground up. Rakesh Vyas breaks down the sectors and themes that could shape India’s next phase of market returns.The discussion covers banks, lending and financialization of savings, along with consumption, premiumization and retail growth. It also looks at energy, power transmission and manufacturing as India prepares for higher demand, more capex and a stronger domestic growth cycle.Can lending become the one sector that connects India’s consumption story, energy investment and financial savings boom? Are Indian market valuations fair, expensive or still attractive? And will corporate earnings growth matter more than market hype?CHAPTERS:(01:52) Where Equity Returns May Come From Next(06:45) Why Lending Could Lead India’s Financialisation Story (10:26) The Big Shift in Indian Consumption (12:50) Why Premiumisation Is Still Early(14:47) Energy Demand, Power Capex and Transmission(19:05) Why Solar Equipment Stocks Face Pressure(21:31) Why IT Sector Has Been Underweight(24:24) Why IT Services Still Have a Role in AI(25:09) How Lending Connects India’s Big Growth Themes (26:36) What Investors Should Expect From Markets (28:14) Are Earnings Finally Set to Recover? (30:31) The Biggest Risks for Indian Markets (32:04) Manufacturing and Exports as the Next Big Opportunity(33:59) Are Indian Markets Fairly Valued?The episode also explores IT services, AI, GCCs, exports, pharma and manufacturing as long term opportunities for India’s equity market and the broader Indian economy.Watch the full conversation for a sharper view of India’s stock market, bottom up investing, equity market trends and India’s next growth opportunities.#IndiaStockMarket #StockMarketIndia #EquityMarket #IndianEconomy #TheCoreReport #TheCore