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Days after the Paytm crisis intensified, a group of start-up founders has written to Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman and the Reserve Bank of India
Deepak Shenoy says: "We have got very little in financials, very little in IT. I think those are the two areas and almost nothing in pharma in our fundamental driven strategies. And at this point, I will wait for results to finally come in. Things do not look as exciting as they were in the October news time when we saw the September quarter results come in."
Deepak Shenoy says Reliance is a sum of the parts valuation due to its various businesses, including telecom, oil and gas/chemical, and retail. He anticipates a demerger between the oil to consumer (O2C) segment, Jio, and Reliance Retail in the next four to five years, leading to higher market value. While the next 12 to 18 months may not be exciting for the business, Shenoy is holding on for the demerger.
Market watchers, however, expects the stock to fall further until clarity emerges on I-T searches which is being viewed as a 'corporate governance issue'
“In infrastructure, I would look at companies that are able to manage their cash flows better and even a company like Mazagon Dock has amazing cash flow management for what is otherwise a government company. They have net cash on their balance sheet because they get paid in advance. Some of those aspects matter more.”