At least six Indian-origin family members—including two children—were killed in a horrific vehicle accident in the US state of Texas, according to officials. A minivan and a pickup truck crashed head-on on Tuesday night close to Johnson County, which is near Fortworth, according to the Texas Department of Public Safety (DPS).
Only one of the seven members of the same family—43-year-old Lokesh Tabitha—survived the vehicle crash with serious injuries. The other five people in the van are from Alpharetta, Georgia: Naveen a Tabitha, 36; Nageswara Rao Penned, 64; Sita Mahalakshmi Panadas, 60; Karthik Tabatha, 10,; and Nishida Tabatha, 9, are all from Alpharetta.
The minivan was in the same area on Tuesday at around 4 p.m., traveling north, when the pickup truck was traveling south on US Highway 67 near County Road 1119, according to DPS investigators. The minivan and the pickup crashed head-on when the pickup entered the northbound lane in a no-passing zone.
When someone asked me when I thought was the finest time to invest in India, I told him that I thought it was on July 24, 1991, the day Manmohan Singh announced the budget, the index was 1400 (I think the Sensex was close to 1400 at the time), and the cards were opened. His prediction that India would transform and move to a better place has come to pass, and events since then have confirmed his correctness. Today is the best time to invest going forward. If you haven’t made any investments in India, you really should.
Damani states: “I have never been terrified of volatility; I have always stayed nearly totally invested in Indian markets, so I do not get scared with the volatility. All of my predispositions tell me to stay involved and do not get scared by the volatility and I have not been for 30 years. The greatest is still to come.
It’s a pleasure to have you on ET right now. We appreciate your presence here.
Being with you is always a pleasure, and I appreciate your nice sentiments very much. And I’ll add, “Learn to be optimistic about India.”
It’s a pleasure to have you on ET right now. We appreciate your presence here.
Being with you is always a pleasure, and I appreciate your nice sentiments very much. And I’ll add, “Learn to be bullish in India.” My mentor RK Damani and our mutual buddy Rakesh Jhunjhunwala taught me this lesson. They are the ones who first made me aware of India’s economic boom. There is only positive because it is so populated. At the very least, I owe those two folks a great deal.
Admittedly, you have consistently recognized major developments. And you began practicing the entire premise of taking a broad view and then locating firms within it long before the term “mega trends” became popular.
Yes, you are entirely correct. That’s what I attempted to achieve. Cement shares were the big thing in India when I returned there in the late 1980s. In actuality, it was transformed by the so-called Indian liberalization movement. Following that, I became aware of how much money I.
I’ve been going through a mental process attempting to come up with a name for this recent bull market. Do you know how we call a bull market like this? At last, I experienced what is known as an eponymy moment, according to which the label would have contributed to the expansion of the vast Indian middle class. That seems like a really interesting story. The newly released book, which I heartily endorse. Although I haven’t read it yet, I ordered Homi Kharas’ The Middle Class. There is where I get a lot of my ideas.
He claims that the middle class, which emerged in England in the 18th and 19th centuries, is responsible for the current state of the world. And he claims that of the approximately 8 billion people on the planet, 4 to 5 billion currently live in the middle class. Additionally, India is where the majority of middle-class immigrants come from rather than countries like America. The middle class is broadly characterized as having a PPP purchasing power parity of approximately $12 per day, which is well over the poverty line, so it is likely to be a big trend.
That implies they will be able to save, invest, learn, travel, and engage in a variety of other activities at that time. Furthermore, given that the middle class has grown significantly and our per capita income has surpassed $2,500, we may be witnessing the start of a hockey stick curve in India. They are now calling for action on issues including travel, education, and living conditions, as well as climate change. That is going to be the major trend that not only shapes this bull market but also the society in which we live.
What in this market is right and wrong? We may debate in both directions. What evaluation do you have?
You know, I believe that this market has a lot going for it. I believe that the market has declined significantly during the past few days. If my memory serves me well, we have added over 13 crore demat accounts in India, the most of which have been added in the last three years. They have all been consistently upbeat, which is wonderful. However, kids are learning how to comprehend the exhibits in.
Risk is the option to lose capital permanently, which is extremely risky and something you want to avoid. In the markets, volatility is defined as what happened yesterday, what happened the day before yesterday, and what will continue to happen. That market is accurate. The Sensex may see ups and downs over the next 2,000 points. Nobody can predict what will occur. Perhaps an astrologer can predict the future. However, I have a strong suspicion that the Sensex’s next 20,000 points will rise as a result of t.
What is the market’s problem?
An extended period of bull market like this one will inevitably result in excesses, overvalued assets, and unwarranted optimism. It may also cause crucial regulatory adjustments to be ignored because the market is performing so well. We hope that those errors don’t occur. However, rather than being pessimistic over the coming years, there is a lot to be grateful for and a lot to look forward to.
Are you totally invested in this market and how are you approaching it?
Yes, I have given it my all. It’s rare for me to have so little money. Usually, I enter a bull market with 5–10% cash, but as I’ve gotten older and more experienced, I feel more comfortable risking everything and letting the opportunity present itself. I believe there is cause for optimism, and the public sector equities were one of the industries I called this time around. They have had an outstanding performance.
A crucial point that many in the stock market overlooked was that a) the government would utilize these public sector organizations as a blunt tool for capital development and b) they would be informing them that they would be required to pay thirty percent of the dividends.
These companies were offering today’s earnings at a yield of 7-8% two or three years ago, which is an incredible jackpot for the early investors. It has been a good place, as I have made very clear, even in light of the prime minister’s remarks in Parliament, which you have undoubtedly seen. Essentially, when did the Indian Prime Minister declare on the floor of Parliament that the public sector’s stock market is bullish? It’s never happened prior to. Thus, we were ecstatic.
The total market capitalization of PSUs, comprising LIC and several recent initial public offerings, has increased by three times.
It has been an incredible run, and you have benefited greatly from it. You were essentially acquiring these stocks for a 4-5% yield, and the order books were guaranteed; they weren’t speculative. For the next five years, we were aware of the order books. Thus, I believe that there was a discussion in the stock market last year that was misconceived.
Why, in your opinion, do these things occur?
The same thing happened to, say, PFC-REC if the market cap was so low, if it was a government-backed company, and if the dividend yield was so high. Why are they ignored by markets?
You have to throw the baby out with the bathwater in this situation. a large amount of herd mentality. The phrase “quality at any price” gained significant traction in the stock market somewhere in the middle of the 2000s. A wise capital deployment is what we seek. There is a well renowned
We were aware of the many valuations available, and for a while we were profitable from them. But it has returned once more. Therefore, the market needs to be cyclical and have an up-and-down trajectory. I believe those who declared in 2000 that they would only make high-quality business investments or that they would only invest in IT in India paid the price. The marketplace is not a place for haughty people. It is a location for the lowly.
When the market opens in the morning, Rs 1,500 crore is available for investment. Thus, there is a marine chain at work there. I haven’t noticed any of the market peaks yet related to highly leveraged businesses, excessive debt, or unreliable corporate results. Thus, I am willing to inform you that the current state of the market is one of instability.
what someone asked me what was the ideal time to invest in India, I told him that, in my opinion, it was July 24, 1991, the day Manmohan Singh announced the budget, the index was 1400 (the Sensex was, I think, roughly 1400 there), and the cards were open on that day. His prediction that India would transform and move to a better place has come to pass, and events since then have confirmed his correctness. Today is the best time to invest going forward. If you haven’t made any investments in India, you really should.