The Core Report
Every Monday to Saturday, tune in as financial journalist and host Govindraj Ethiraj gives you the latest news in business, economy and technology
Latest episodes
Jan 19, 2025 • 37min
#485 The Stock Markets are Still Under Pressure, On Standby for Budget Cues
On Episode 485 of The Core Report, financial journalist Govindraj Ethiraj talks to Prabhu Dhamodharan, Convenor at the Indian Texpreneurs Federation as well as Karan Taruani, Consumer Analyst and Senior Vice President at Elara Securities.
SHOW NOTES
(00:00) The Take
(04:50) The stock markets are still under pressure, on standby for Budget cues
(06:12) India’s forex reserves are at 10 month low, down $79 billion
(07:53) India is now experiencing a structural slowdown, says UBS
(10:16) Will the US step up or down sanctions on Russian oil? And what that could mean for India?
(13:25) On Trump’s inauguration day, how could potential import tariffs hurt India’s apparel industry
(26:00) Reliance retail has reported strong Q3 results, does that mean consumer products are doing well?
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Jan 17, 2025 • 44min
#484 Redefining Wealth Management for India’s Digital Generation with Vishal Kampani
This week financial journalist Govindraj Ethiraj is joined by Govindraj Ethiraj sits down with Vishal Kampani, Vice Chairman and Managing Director of JM Financial, to explore the dynamic evolution of India's financial landscape. From private equity to capital markets, they discuss the shifting preferences of investors, as well as the opportunities and hurdles shaping the sector. Kampani highlights the need for financial innovation, the role of family offices, and the future of the financial sector in India. Tune in to understand the contemporary pinnings of wealth management.
(00:00) Introduction
(02:15) Legacy, Culture and contemporary advantages of JM Financial
(03:30) New competition and current trends
(05:22) Building out a digital platform
(07:11) Market Segmentation and expansion
(10:00) Investment-life-balance and the younger generation
(12:00) JM Financials range of customers
(13:38) Investment banking today
(17:00) Financial Innovation in India
(19:00) Today vs 25 years ago
(24:45) Pricing and Private equity
(27:20) JM Financial’s various verticals and growth
(31:30) RBI and Taking a Regulatory Lens
(34:11) Outlook for 2025
(37:42) Family Offices
(40:00) Future of the financial sector and final thoughts
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Jan 16, 2025 • 30min
#483 Markets Gain on US Interest Rate Outlook and Positive Fund Flow Cues
On Episode 483 of The Core Report, financial journalist Govindraj Ethiraj talks to Vinod Giri, Director General of the Brewers Association of India as well as Vivek Kumar, economist at QuantEco Research.
SHOW NOTES
(00:00) Stories Of The Day
(01:00) Markets gain on US interest rate outlook and positive fund flow cues
(03:16) Infosys results and guidance suggest US banks will increase spending on the back of strong performance.
(05:27) Refiners are scampering to buy crude as sanctions on Russian oil take hold
(11:28) Hyderabad is running out of beer as United Breweries battles with the State Government for past dues.
(21:34) India’s trade deficit conundrum. Decoding the numbers
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Jan 15, 2025 • 21min
#482 Markets Hold A Recovery
On Episode 482 of The Core Report, financial journalist Govindraj Ethiraj talks to Uday Ved, Partner-Tax Services at KNAV CPA India.
SHOW NOTES
(00:00) Stories Of The Day
(01:00) Markets hold on to a recovery, Wall Street zooms, drive positive cues.
(03:44) Gold prices are inching up after while.
(04:11) The rupee turns in its best performance in 7 months.
(05:33) Oil markets are still on the edge following Russian sanctions and BP returns to a century-old Iraqi field. The IEW Segment.
(08:18) Promoters of Indian companies may not get the salaries they do if small shareholders had a greater say.
(11:26) How a liberal tax policy can help boost manufacturing. Budget Notes with Uday Ved, Partner, Tax Services, KNAV - CPA India
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Jan 14, 2025 • 33min
#481 Markets Fight To End In The Positive
On Episode 481 of The Core Report, financial journalist Govindraj Ethiraj talks to Ajay Shah, well known economist and columnist as well as Vandana Hari, Founder and CEO of Vanda Insights.
SHOW NOTES
(00:00) Stories Of The Day
(01:00) Markets fight to end in the positive
(04:41) The policy flip flop on the rupee and its implications
(19:42) Decoding the sanctions bombshell on Russian oil and impact on India
(28:14) Car sales slow down, more so in the small car segment
(29:19) And the world’s busiest airport in 2024 is…
(30:35) Who does the word schezwan chutney belong to?
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Jan 13, 2025 • 31min
#480 Markets Hit A 7-Month Low
On Episode 480 of The Core Report, financial journalist Govindraj Ethiraj talks to Viktor Katona, head of oil analysis at energy research firm Kpler as well as Rama Bijapurkar, author, business advisor and researcher of Indian consumer markets.
SHOW NOTES
(00:00) Stories Of The Day
(01:00) Markets hit a 7-month low, some fund managers still wary of valuations
(04:45) Rupee slides past 86 to the US Dollar for the first time
(05:21) Shipments of Russian oil to India assured for now as India braces for impact
(06:56) Why oil prices are falling and India’s bargaining stance
(15:14) How to interpret consumption trends in India when data is weak
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Jan 12, 2025 • 33min
#479 Markets Stay On Weak Footing, Will Midcaps Surprise
On Episode 479 of The Core Report, financial journalist Govindraj Ethiraj talks to G Chokkalingam, Founder of Equinomics Research as well as Himanshu Parekh, Partner and Head of Tax (West) at KPMG.
SHOW NOTES
(00:00) The Take: India’s Diagnostics Industry Is Going to Grow
(04:41) Markets stay on weak footing, will midcaps surprise?
(07:20) What early market trends for 2025 are telling us about stocks
(16:56) India’s forex reserves down $70 billion from peak as markets brace for rupee sliding below Rs 86 to USD.
(17:55) Fresh sanctions on Russia increases the prospect for lower crude oil prices for India.
(21:05) 22 subcommittees are working on simplifying India’s tax laws before the Union Budget. Will they meet the deadline?
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Jan 10, 2025 • 40min
#478 Growth and Challenges in Supply Chains and Multi-modal Logistics with Vineet Agarwal
This week financial journalist Govindraj Ethiraj is joined by Vineet Agarwal, Managing Director at the Transport Corporation of India Limited. Agarwal discusses the current state of the logistics sector, from growth opportunities and profitability to the challenges and implications of supply chain disruption. You’ll learn about all things supply chain management whether it be for quick commerce, warehousing, multi-modal logistics or the complexity of shifting supply chains. He also discusses the formalisation of sectors, the demands of compliance, and what affects the cost of logistics. Tune in for a 360 view of the logistics industry from one of its biggest players.
(00:00) - Intro Logistics sector/industry
(02:02) - Quick commerce, Kirana stores, Dark stores,
(05:33) - Supply Chains of e-commerce vs Kirana stores
(07:15) - Products coming from multiple factories
(08:11) - Warehouse fulfilment level is where they operate. Delivery costs are the highest costs.
(09:50) - History of the TCI. The business has changed, but the value system has not changed
(11:41) - Working with all industries - auto, defence, etc. Offering a service without damages
(12:47) - Domestic manufacturing, supply chain localisation due to supply chain disruption
(14:49) - Complexity of shifting supply chains
(17:20) - Multimodal logistics. Bringing down logistics cost
(19:47) - The Shipping side of TCI
(22:00) - What do Corporates want
(23:00) - Tracking has become hygiene
(24:21) - How does granular information add value
(25:50) - Where is the growth opportunity
(28:11) - Compliance needs
(30:21) - Profit growth for TCI
(32:30) - How do customers indicate growth opportunities
(34:33) - Chocolate
(35:53) - Speed increases cost
(37:13) - What to look forward in the upcoming budget
Listeners! We await your feedback....
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Jan 9, 2025 • 27min
#477 Why India’s Mobile Phone Production Capacity Is Lying Idle
On Episode 477 of The Core Report, financial journalist Govindraj Ethiraj talks to Tarun Pathak, Telecom Analyst and Research Director at Counterpoint Research.
SHOW NOTES
(00:00) Stories Of The Day
(01:09) Markets are sliding away
(06:50) The Indian mobile phone market has stagnated, thanks to which half the manufacturing capacity of 500 million phones is lying idle
(18:02) RBI wants to improve its data forecasts.
(20:55) 52 of 59 ultra luxury properties worth Rs 4,750 crore bought in India last year were in Mumbai as sales values keep rising
(21:48) Mercedes has a record sales year in India.
(22:49) Electric car maker BYD sells more hybrid cars than electric, did you know?
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Listeners! We await your feedback....
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Jan 8, 2025 • 24min
#476 The Stock Markets Fight Back A Fresh Bout Of Selling
On Episode 476 of The Core Report, financial journalist Govindraj Ethiraj talks to Bjarne Schieldrop, Chief Commodity Analyst at Oslo headquartered SEB as well as Pratik Shah, Managing Director for India and SAARC at F5.
SHOW NOTES
(00:00) Stories Of The Day
(01:00) The stock markets fight back a fresh bout of selling
(03:27) ONGC ties up with BP to boost oil drilling output, the IEW segment
(09:50) Indians love gold but did not import as much as we thought last month as the Govt revises figures
(11:48) Will new tax laws be simpler?
(13:13) How security threats for APIs, which link almost all our financial transactions are rising
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Listeners! We await your feedback....
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