Weekly Fundamental Podcast With Rini Mehta | 13th Nov 2023

Highlights of 13th November Fundamental Weekly Podcast: - Both BSE 30 and NIfty 50 index gained this week, following the trend in global equity markets, the BSE Mid-cap and Small-cap index outperformed the larger peers in the domestic market. - Majority of the sectoral indices gave positive returns during the week. - The Q2FY24 earnings season has been slightly ahead of estimates so far. Oil prices corrected during the week and Brent crude is now trading at ~$80 per barrel. - FIIs continue to be a net cash seller to the tune of Rs. 6170 crores, to date in Nov’23. In Oct’23, they were net cash sellers of Rs.29,056.61 cr. - Result update; HDFC AMC Analyst Day gave comfort that the business is benefiting from strong fund performance, industry flow tailwinds and fading concerns about impactful regulatory intervention. The investment thesis is earnings-led, where we believe HDFC AMC has strong levers to outperform peers. - PICK OF THE WEEK – ADANI PORTS - ADSEZ's EBITDA grew 19% yoy, 4% head of our estimate. - Increase estimates by 5% and roll forward to FV of Rs940 (from Rs870). - ADSEZ is our top pick among infrastructure assets.