Are new-age companies not expensive and are now struggling? Zomato, there is competition. For policy fintech, new platforms are being created by existing insurance companies. Paytm is outside the woods, but it is still an issue, how much they can make. So, when you say new growth companies, what do you like there?
Dinsho Irani: So, basically, you have talked about all these people in our portfolio. We like them. It is the only area to talk about fast commerce where you are watching in competition for zomato or eternal choice, if you will. But the fact is that even in fast commerce, I mean that you have seen the competition.
They are cutting people. They are reducing their costs. So, if you take the example of Metuan in China, it looks like he is not exactly the winner, but the winner wins it in all kinds of market.
Therefore, we are playing the same in India and hopefully, being a strong candidate here and a new child on the Zepto block, (7:40) is in favor of eternal.
Saying that, I am not calling any of the purchases here. I mean, we have invested in this. Therefore, we are comfortable with the evaluation even when we see the future. Second, the choice of Fintech companies. Again, you can say that the issues are still overwhelming, yes, that’s what the company has passed out of all the mess.
I mean, if anything we relax there is that there is a strong management and, apparently, Fintk is ahead of the SE because these are the people who will become a future in the country and we have seen that we are comfortable with such names this kind of names.
Therefore, we have a name in the auto space that is platform companies. Our pharma has a name that is platform companies. So, it’s not the only three you mentioned, we have found some others.
Give us your latest remedy at the OS toss as you have been in the overall sector for a long time. But some experts are publishing that it is probably the time to see two wheelers. Do you look at that point of view and overall, shaping the trend of demand, how do you see any pockets that look attractive?
Dinsho Irani: So, really, we are. I mean that we have been negative at Auto toe space forever, two-wheeler in fact we have become very negative at the beginning of life because we have seen that two wheeler space has seen the growth of demands really male, but I think the space is now frozen and the stocks are just two-wheeler, where one of the two-wheelers is together. Is No secret is really that Bajaj Auto toe because we have already revealed this in our portfolio and that is what we are comfortable because the tariff wars will eventually begin to target high-end, premium bike and content like that.
Therefore, Bajaj has KTM, Bajaj is EV, Bajaj has three wheelers. I mean they have a very different kind of mixture. So, I’m just trying to understand that you like Bajaj Auto toe because the stock is down or they are getting market shares or you like their exports or you like their EV. What is the story in Bajaj Auto toe?
Dinsho Irani: So, basically everything, I mean KTM obviously one thing they were going to literally achieve.
It is a less part of their overall turnover. The big kicker here is the fact that they have done well. Second, they have entry-level two-wheelers that are just another competition and not even bigger.
It’s big, but not that, if anything and obviously Bajaj Auto Tone is receiving the market in the way the SOP was given to the SOP in the budget, I think Bajaj Auto toe has raised our vote and, apparently, it is 50-50 literal, so it is 50-50.
Therefore, there is an insulation happening, if India does not do good, the other parts will do well, so that is why it is leading us to Auto Tony choice.
But except, what is your biggest key from the earning season, we mean a little bit of which areas look as great as a long -term story and which areas you find exciting and you want to track more on the earnings front.
Penalty Iranian: So, surely, I told you about our preferences. A field where we live, I will not say weight loss, we have protection there. I think the area looks very interesting, but unfortunately most of the stocks there have passed through the ceiling in terms of evaluation. I mean, peak valuation, not even a peak, I mean that they are beyond the previous peaks and it is a field that we are tracking very closely.
We are always calling that India may be a source for defense. Globally defense costs are moving forward. I mean that because Trump is apparently coming, the EU also has to start spending more on defense and the only supplier can be a very friendly nation that does not show aggression and I think we came to the defense.
But, as I said, the valuation has passed through the ceiling so it is a field that we are tracking very closely and if there is a semblance coming out and clearly, we have a time improvement of the market, we do not see a time improvement, which one has a single earnings, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one, one who earns one. Does, one earns one, one earns. Symbalcans are coming, so hopefully we will see some purchase opportunities in that space.
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