B L Kashyap secures two new orders worth Rs. 271 crores approx
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B L Kashyap secures two new orders worth Rs. 271 crores approx

B L Kashyap secures two new orders worth Rs. 271 crores approx. from Suparna Realtors Private Limited and Jagamayi Manor Private Limited

The current order book stands at approx Rs. 3276 crores

New Delhi…November 08, 2023…B L Kashyap & Sons Ltd. (BSE: 532719 NSE: BLKASHYAP), one of the leading Engineering, Procurement, and Construction (EPC) Companies has secured two new orders worth Rs. 271 crores approx. from Suparna Realtors Private Limited and Jagamayi Manor Private Limited. The company has received the orders for civil and structure works for commercial projects; Sattva Texonicat Bangalore and Sattva Verve at Pune District, Maharashtra respectively. The current order book stands at approx. Rs. 3276 crores.

Mr. Vineet Kashyap, Managing Director, B L Kashyap & Sons Ltd. said, “B L Kashyap continues its stellar performance of winning prestigious orders. These new projects will further strengthen our geographical presence in Karnataka and Maharashtra states as well as enhance our commercial portfolio.”

GOCL announces result for Q2 FY24
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GOCL announces result for Q2 FY24

HIGHLIGHTS:
 The company announces Q2 Unaudited Financial Results
 The company’s income stood at INR 223 Crores
 The net profit stood at INR 16 Crores
New Delhi, November 8, 2023: GOCL Corporation Limited, a Hinduja Group Company, announced its Q2 financial results for the fiscal year 2023-24. Amidst ongoing market challenges, the company has consistently upheld its performance. In the second quarter, the company demonstrated its resilience and strategic effectiveness by achieving a consolidated Income for the quarter stood at INR 223 crores, and for the first half of the year at INR 482 Crores, with a PAT of INR 16 crores and for the half year ended at INR 28 Crores.

In the face of extraordinary market shifts, heightened raw material expenses, and inflationary influences impacting this quarter’s financials, GOCL remains steadfast in its pursuit of growth. The company’s commitment to innovation in product strategy and unwavering customer-centric values are key drivers for long-term success.

 

Commenting on the quarter’s outcome, Mr. Pankaj Kumar, MD & CEO of GOCL Corporation Limited, remarked, “Amidst persistent economic headwinds this quarter, we’ve not only sustained our performance momentum but also embraced the opportunities within. The recent implementation of strategic initiatives is poised to yield positive results in the long run. Our unwavering participation in national missions, such as our involvement in Chandrayaan, serves as a powerful testament to the quality of our products and technologies. We remain steadfastly committed to achieving such milestones, and with our customer-centric approach, innovative solutions, and unwavering dedication, we are poised for enduring success.”

Segment-wise performance and highlights are as under:
ENERGETICS AND EXPLOSIVES
The income of Energetics for the quarter stood at INR 29 Crores and for the half year ended at Rs INR 64 Crores

The wholly-owned subsidiary, IDL Explosives Limited (IDLEL) quarterly income of INR 138 Crores and for the half year INR 309 Crores.

The performance of this segment during the quarter was impacted by heightened competition in the domestic market and subdued economic conditions in overseas markets.

The Company, in collaboration with IDLEL, is set to execute orders totaling INR 1100 crores over the next two years.

REAL ESTATE
The Company envisions significant potential in the thriving and highly profitable real estate sector. It is strategically positioned to unlock the value of its expansive land holdings in prime locations such as Bangalore, Kukatpally, and Bhiwandi.

Regarding the Ecopolis project in Bengaluru, which currently boasts 14.54 lac square feet of commercial space, the Company is actively exploring innovative avenues for generating income from this property.

Furthermore, recognizing the increasing demand for modern warehousing solutions in Mumbai, the organization is poised to develop state-of-the-art infrastructure on its owned land in Bhiwandi.

NEW FOCUS AREAS
The Company is expanding its presence and intensifying its commitment to emerging sectors, including Electronics Manufacturing and cutting-edge Products for Space and Defense applications.

Our portfolio encompasses Canopy Severance Systems, Pyro Cartridges, Explosives Train (Special Projects), and Metal Cladding.

Our Special Projects division played a pivotal role in the recent triumphant Chandrayaan Mission by providing specialized Ignitors. This segment recorded a remarkable growth of over 50% during the quarter.

OVERSEAS INVESTMENTS
The company through its overseas subsidiary HGHL had made an investment of USD 24 million, in 57 Whitehall Investment SARL, Luxembourg for the development of the historical Old War Office (OWO) project located in central London, to convert the project into a 5-star hotel and luxurious residential apartments. The Hotel project has been inaugurated.

The company expects, HGHL to get significant returns on their investment, over and above the capital invested, on completion of the project from the operations of the Hotel and sale of luxurious residential apartments.
GUARANTEED INCOME
The Company received a Guarantee Commission from its wholly-owned subsidiary, HGHL Holdings Ltd. in the UK, and Hinduja National Power Corporation Limited, a non-related party of INR 8.26 crores in Q2 FY24.
Going Forward
The Company has a healthy order book of INR 1100 crores for the next 2 years. Safety, innovative products, process automation, and cost reduction continue to be focus areas. We are also on track with our ongoing transition from electric to electronic detonators, in line with the government recommendations.

SRA-Omkar Realtors completes additional 1000 houses lottery allocation of iconic Dhobi Ghat SRA redevelopment project
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SRA-Omkar Realtors completes additional 1000 houses lottery allocation of iconic Dhobi Ghat SRA redevelopment project

Mumbai, November 08, 2023: The Maharashtra government’s Slum Rehabilitation Authority (SRA) body today completed lottery allocation of 1,000 houses in the world’s tallest rehabilitation towers at the iconic Dhobi Ghat (Mahalaxmi), Mumbai. The project built by Omkar Realtors had already housed over 900 families in October 2023.Iconic Dhobi Ghat SRA redevelopment project

Developed under the aegis of the Maharashtra government’s slum rehabilitation scheme, the Dhobi Ghat project will be housing approx. 16,000 slum residents in phases. The landmark venue is on the international map as one of the largest outdoor open laundries in the world with the majority of residents in the vicinity engaged in laundry-based services. This project is spread across 12 acres of prime land in South Mumbai’s Mahalaxmi location and includes luxury housing overlooking the race course and the Arabian Sea.

The project, a joint venture, between Omkar and Piramal Realty will primarily benefit dhobis and people in associated labor such as dyeing, drying, transportation, ironing, etc. This project is situated more than 150 meters away from the heritage site, though retaining its natural charm.

Speaking on the handover, Mr Rajiv Agrawal, SRA Head of Omkar Realtors said: The latest allocation carried out by SRA authority will result in approximately 10,000 slum residents residing in owned-homes in the current year at Dhobi ghat project. For Omkar, this also reflects housing of more than 16,000 residents across its projects in Mumbai which is the highest delivery figure in 2023 under the Slum rehabilitation scheme of the state government, he added.

The entire slum rehabilitation project of Dhobi Ghat has also set a qualitative benchmark for rehab development with the state-of-the-art construction, and deployment of spaces for welfare centers, society offices, and balawadis (education purposes). The 4-towered SRA project is also deploying 16 elevators of leading German brand Schindler; normally offered in premium housing only.

Omkar has been at the forefront of the slum redevelopment space. As a major player in the field, Omkar is working towards scaling up its high-quality deliveries which have already crossed 17,000 units within the Mumbai region.

Zee Business takes the crown: India’s premier business news channel in dominating victory
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Zee Business takes the crown: India’s premier business news channel in dominating victory

Zee Business has set a remarkable milestone by securing the position of India’s No. 1 Business News Channel, as confirmed by the latest data released by the Broadcast Audience Research Council (BARC). What makes Zee Business stand out is its proficiency in presenting business news in a manner that resonates with the common man, translating intricate financial concepts into easily understandable language for all. This prestigious recognition reaffirms Zee Business’s unparalleled dedication to its viewers and stakeholders.

In the 43 rd week 43 2023- 21st to 27 th October, Zee Business secured an impressive 58.7% viewership share in the socioeconomic market (HSM) among audiences aged 22 and above. This outstanding achievement positioned Zee Business as India’s No. 1 Business News Channel, leaving its closest peers, CNBC Awaaz, far behind at 39.1%. CNBC-TV18 and ET Now trailed with 1.9% and 0.3%
viewership, respectively. The above BARC data solidifies Zee Business’s unmatched leadership in delivering top-quality financial news and analysis.Business_Wk43-23_No1_Post- zee business new

Zee Business’s success can be attributed to its flagship shows that have garnered substantial viewership, such as ‘First Trade’, ‘Final Trade’, ‘News Par Views’, ‘10 Ki Kamai’, Commodity Superfast, Aapki Khabar Aapka Fayda and India 360. These news shows have become trusted sources of information for millions of viewers, reinforcing Zee Business’s reputation for providing credible financial insights and market updates. It has, in fact, consistently delivered high-quality, informative, and engaging content that resonates with a broad spectrum of viewers.

Emphasizing on this remarkable achievement, Anil Singhvi, Managing Editor, Zee Business said, “At Zee Business, we are truly honored and delighted by our achievement in securing the position of India’s No. 1 Business News Channel. We have consistently strived to provide our viewers with the most accurate, insightful, and timely financial news and analysis and this achievement only strengthens our resolve to continue doing so. This recognition reaffirms our position as a trusted source for millions of viewers who turn to us for the latest and most credible information on business and financial matters.”

Madhu Soman, CBO of Zee Business and WION, further added “As we celebrate this significant milestone, we are also looking ahead to the future with a renewed sense of purpose. We remain committed to maintaining our position at the forefront of business news, innovating, evolving, and continuing to provide the highest quality content. Our commitment to excellence remains unwavering, and our dedication to our viewers remains our driving force. Thank you for your  unwavering support, and we promise to continue serving you with the best in business news and analysis.”

The channel extended its gratitude to its viewers, advertisers, and all stakeholders for their trust and support, and also reaffirmed its commitment to delivering excellence in business news.

Zee Media Corporation Ltd, one of India’s leading media companies, has a strong presence in the news and regional genres, with 16 news channels in seven different languages, reaching more than 528+ million viewers through its linear and digital properties.

India’s The Riverside School wins World’s Best School Prize for Innovation 2023
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India’s The Riverside School wins World’s Best School Prize for Innovation 2023

The five World’s Best School Prizes, founded last year by T4 Education in collaboration with
Accenture, American Express, and the Lemann Foundation are the world’s most prestigious

education prizes and see winning schools share $250,000

National, 08.11.2023: The Riverside School, an independent international school in Ahmedabad, Gujarat, India, which has gained worldwide recognition for its groundbreaking, student-centric approach to education with its I CAN pedagogical model, was today named winner of the World’s Best School Prize for Innovation 2023. The five World’s Best School Prizes, founded last year by T4 Education in collaboration with Accenture, American Express, and the Lemann Foundation, are the world’s most prestigious education prizes and this year’s winners share an award of $250,000.

Campus - The Riverside School

At the same time, Institución Educativa Municipal Montessori sede San Francisco in Colombia won the World’s Best School Prize for Environmental Action. SPARK Soweto in South Africa won the World’s Best School Prize for Community Collaboration. The Max Rayne Hand in Hand Jerusalem School won the World’s Best School Prize for Overcoming Adversity. And EEMTI Joaquim Bastos Gonçalves in Brazil won the World’s Best School Prize for Supporting Healthy Lives. The winners were chosen by an expert Judging Academy.

In addition, a new Community Choice Award was presented this year to Escola Municipal Professor Edson Pisani in Brazil after it won the most votes of all the World’s Best School Prizes finalists in a Public Vote. It will now receive membership to T4 Education’s new Best School to Work program, an independent, evidence-based mechanism to certify schools for their culture and help them transform their working environment to attract and retain the best teachers.

Students - The Riverside School

Vikas Pota, Founder of T4 Education and the World’s Best School Prizes said, “My deepest congratulations to The Riverside School in India. Educators across the world should look to the shining example of your school in the difference you have made to so many lives. Governments must look to the trailblazing work they have done as they seek answers to the great challenges we face today. Where you lead, they must follow. This tremendous moment has been made possible by the leadership, vision, and culture your school has fostered and it brings me great pride to bestow upon you the World’s Best School Prize for Innovation 2023.”

The five World’s Best School Prizes – for Community Collaboration, Environmental Action, Innovation, Overcoming Adversity, and Supporting Healthy Lives – celebrate schools everywhere for the pivotal role they play in developing the next generation of learners and for their enormous contribution to society’s progress, especially in the wake of COVID. The Prizes were established to share the best practices of schools that are transforming the lives of their students and making a real difference to their communities.

Unleashing Innovation: Conversations with visionary brand leaders on WION Trailblazers show
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Unleashing Innovation: Conversations with visionary brand leaders on WION Trailblazers show

In the heart of WION’s headquarters, a remarkable conversational show, ‘Trailblazers’, brought together accomplished industry leaders hailing from diverse sectors. The eminent panelists were K. Ganapathy Subramaniam, VP & Head of Marketing at LT Foods; Rammohan Sundaram, Ph.D., President of Integrated Media at DDB Mudra Group; Sukhleen Aneja, CEO of Good Brands Co; Damyant Singh Khanoria, CMO of OPPO India; and Puneet Kumar Vidyarthi, Head of Marketing at CASE Construction Equipment.

With a wealth of experience, Jasper Reid – the host of the show ensured that the discussion revolves around one of the most critical subjects in today’s business landscape—innovation. Each industry stalwart offered a unique perspective, providing a comprehensive view of the innovation landscape and its transformative potential:

WION Trailblazers - Innovation

Damyant Singh Khanoria – The socks that sparked innovation and nurturing innovation through curiosity:

Damyant Singh Khanoria narrated an interesting journey that began with a simple pair of socks. The story centers around the iconic cricket legend Sachin Tendulkar, who, in 2007, found himself in need of an upgrade for his sports socks. Ganapathy responded to this challenge in a way that showcases how some of the most groundbreaking innovations stem from relevant questions and everyday needs. The result was an extraordinary high-performance sock designed to enhance comfort and durability. The underlying message here is that innovation often originates from addressing the most ordinary, yet essential, needs.

He also shared his journey of innovation, drawing from a diverse background. He highlights the role of continuous improvement, curiosity, and an unwavering commitment to learning as fundamental elements of innovation. His experiences, ranging from frequently changing schools as a child to adopting the concept of “divine discontent” borrowed from the All Blacks, emphasize the importance of evolving and questioning the status quo.

Ganapathy Subramaniam – Stay curious
Ganapathy Subramaniam emphasized the significance of adopting a consumer-centric approach in the business world—understanding how consumers interact with a product is of greater value than focusing solely on its production. He also highlighted the importance of celebrating beloved dishes, highlighting that true innovation arises from unlearning preconceived notions and wholeheartedly embracing what you genuinely believe in.

Sukhleen Aneja – The power of understanding consumer needs and motivations:
Drawing from her rich experience working with consumer-focused companies, she underscores the importance of deeply understanding consumer needs and motivations. Sukhleen also highlighted how effective innovation starts by immersing oneself in the consumer’s world and asking the right questions to extract the essence of their needs. Her insights reveal that consumer awareness can drive innovation and revolutionize products and experiences.
Rammohan Sundaram – The Intersection of research, technology and innovation:
Rammohan Sundaram takes the audience into the intricate intersection of technology, mobility, and innovation. He introduces an innovative product that masterfully merges technology with the background while effectively serving its intended purpose. Reading, researching, and refining it becomes a part of an impactful solution for consumers.
Puneet Kumar Vidyarthi – Innovating infrastructure for rural India:
Puneet Kumar Vidyarthi offered a unique perspective, focusing on the role of innovation in rural marketing and community development. He discusses the infrastructure requirements in India, emphasizing the need for innovative machinery and solutions to meet the nation’s growing needs. Puneet shares his endeavor to create entrepreneurs and livelihoods through innovation, transcending the realm of construction equipment to encompass other fields like agriculture and fisheries.
The latest episode of WION Trailblazers works as a reminder that innovation starts with an idea, but it thrives through action and a commitment to meeting the ever-evolving needs of our world.

Hatsun Agro Proudly Announces Remarkable Growth in Milk Procurement, Ensures Supply Stability
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Hatsun Agro Proudly Announces Remarkable Growth in Milk Procurement, Ensures Supply Stability

Chennai, November8 th , 2023: Hatsun Agro, a leading player in the dairy industry and Chairman Mr R G Chandramogan, proudly announces a significant surge in milk procurement, ensuring a robust and stable supply for the coming months. In response to last year’s challenges, the company has undertaken strategic measures to overcome supply shortages and inflated purchase prices.

Following a meticulous correction in selling prices and moderation of purchase prices, Hatsun Agro has experienced a remarkable upswing in milk procurement volume. In the months of September and October, the company achieved an impressive 25% increase in procurement, thanks to the establishment of additional collection centers and the inclusion of more farmers across all states.

The figures speak for themselves – in September, Hatsun Agro procured over 11 crore liters of milk, and in October, the company reached an all-time high, collecting over 12 crore liters of milk in a single month. This exceptional growth in procurement not only signifies the company’s commitment to overcoming challenges but also positions Hatsun Agro as a reliable and sustainable source of dairy products.

image007 (1)

With the expanded network of collection centers and the inclusion of more farmers, Hatsun Agro confidently asserts that there will be no recurrence of the supply shortages experienced last year. The proactive steps taken by the company have not only addressed past issues but have also set the stage for continued growth and stability in the dairy supply chain.

Hatsun Agro remains dedicated to providing quality dairy products to consumers while ensuring fair practices for farmers. The company expresses gratitude to its stakeholders for their continued support and looks forward to a future of sustained growth and success.

Joy Alukkas ‘Autobiography’ ‘spreading Joy’ Launches at Sharjah Book Fair with rave reviews
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Joy Alukkas ‘Autobiography’ ‘spreading Joy’ Launches at Sharjah Book Fair with rave reviews

Chennai: The much-anticipated autobiography, ‘Spreading Joy – How Joyalukkas Became the World’s Favorite Jeweller’, by the renowned entrepreneur Mr. Joy Alukkas, was officially unveiled at the Sharjah Book Fair. Ahmed bin Rakkad Al Ameri, CEO of Sharjah Book Authority, and Bollywood Actress Ms. Kajol Devgan, the Global Brand Ambassador of Joyalukkas did the honors, in the
presence of Ms. Jolly Joy Alukkas and Mr. Anantha Padmanabhan – CEO of HarperCollins.

The book launch was an extraordinary affair witnessed by an illustrious gathering. Eminent officials, notable figures from the business realm, and family members addressed the audience during the ceremony.

Joyalukkas - Book Launch

Mr. Joy Alukkas, expressing his heartfelt gratitude while reflecting on his life’s experiences and lessons said, “My life’s journey has been a testament to the enduring values of commitment, hard work, passion, and perseverance. He added, “I hope my humble attempt will inspire others to chase their dreams and never give up in the face of adversities.”

The buzz around ‘Spreading Joy’ has been nothing short of phenomenal, with pre-orders surpassing all expectations. The book is now available at all leading bookstores in India, UAE, and Bahrain, as well as online for readers worldwide through Amazon UAE, India, Singapore, UK & USA, and other popular e-commerce portals. The book is also available in English at Jashanmal & Malayalam at DC Books at the Sharjah Book Fair.

This autobiography promises to be an inspiring read, offering invaluable insights into the life and achievements of a man who has left an indelible mark on the business world. As ‘Spreading Joy’ takes its place on the literary stage, it is poised to become a beacon of motivation for all who seek success through perseverance, dedication, and a passion to pursue their dreams.

RCMS announces foray into fintech with the acquisition of Acemoney; offers a unified platform for cash and digital banking services
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RCMS announces foray into fintech with the acquisition of Acemoney; offers a unified platform for cash and digital banking services

Chennai, 08.11.23: The Board of Directors of Radiant Cash Management Services Limited (RCMS) today approved the signing of the definitive agreement to acquire a majority stake in Aceware Fintech Services Private Limited (Acemoney), a leading Kochi-based fintech company.

Acemoney provides comprehensive and advanced digital banking solutions designed specifically for retail outlets, cooperative banks, and cooperative societies in rural areas. Acemoney’s tech expertise and digital capabilities position RCMS favorably to leverage the growth in digital transactions by offering an innovative digital platform that combines cash and digital banking services to customers in Tier 3+ regions. RCMS will acquire ~57% of Acemoney in an all-cash deal.

Acemoney was founded by Mr. Jimmin James Kurichiyil and Ms. Nimisha J. Vadakkan to offer digital banking solutions to the large rural population newly integrated into the banking system. However, these people have yet to access the digital banking services their urban counterparts enjoy. Post the transaction, the founders will retain a significant minority stake in Acemoney and play a crucial role in driving the Company’s rapid growth.

Col. David Devasahayam, Chairman and Managing Director of RCMS, said, “Acemoney is a strategic fit for RCMS and the acquisition is expected to provide a significant fillip to our growth plans and allow us to capitalize on the strong growth in digital transactions that the country is currently experiencing.”

He added, “India has nearly 100,000 rural cooperatives, many of which have not yet adopted digital banking. Likewise, India has added over 400 million bank accounts in recent years, but most have yet to move from physical banking to digital banking. Additionally, although thousands of micro ATMs have been added in the country, there is currently no service provider to replenish cash at these locations. With Acemoney’s digital solutions and RCMS’ physical network in Tier 3+ cities, we are poised to play a critical role in the financial inclusion of this large section of the population and unlocking significant growth potential.”

He further added that “this partnership will create a unique digital platform with significant synergies including (i) cash and digital payment options to rural retail outlets (ii) cash replenishment to micro ATMs, (iii) retail cash management services to end-customers
of cooperative banks and cooperative societies and (iv) leveraging the wallet services of Acemoney for more efficient fulfillment of the cash management services.”

 

Mr Jimmin James Kurichiyil, the founder of Acemoney, said, “RCMS has a strong pan-India footprint and an excellent network in rural India that is the ideal target market for our products and services. We are excited to partner with Radiant to bring our products and services to rural retail customers and banks. We look forward to a period of strong growth and profitability.”

Key Highlights from Franklin Templeton’sAPAC nvestor Forum 2023
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Key Highlights from Franklin Templeton’sAPAC nvestor Forum 2023

Experts discuss opportunities and risks for investors navigating

a complex investment landscape

Franklin Templeton hosted its flagship APAC Investor Forum 2023, a hybrid event in Hong Kong that brings together a panel of investment experts, including our CIOs and Portfolio Managers from our collection of Specialist Investment Management teams, to discuss the evolving investment landscape marked by geopolitical shifts, technological innovation, and changing demographics, and their investment perspectives for the new environment.

APAC Investor Forum hosted by Franklin Templeton

Commenting on recession risk and opportunities in 2024, Stephen Dover, Chief Market Strategist and Head of the Franklin Templeton Institute said: “While the likelihood of a least a mild of recession in the U.S. remains high, emerging markets, in particular Asia, may be more resilient. A weakening US dollar should support emerging markets, particularly those that will benefit from shifting supply chain dynamics. Lower debt levels, inflation, interest rates, and solid fiscal policy puts many Asian countries in a more favorable position. We see the greatest opportunities in Japan which is seeing a reversal of multi decade trends that are now showing positive momentum. We also see opportunities in Southern Asia. From an asset class perspective, fixed income globally is attractive as interest rates are at 10-year highs and are likely near peak levels in most regions. In terms of equities, we do not think U.S. earnings expectations are priced for an earnings slowdown. We prefer equity markets outside of the US.”

Commenting on inflation and rates outlook, Dr. Sonal Desai, Chief Investment Officer, Franklin Templeton Fixed Income, said: “I think we are getting closer to peak rates and the markets are starting to internalize what the Federal Reserve intends to do over the coming quarters; however, they are still overestimating the likelihood of rate cuts next year. We believe it is very possible that the Federal Reserve will not start easing at least until the end of 2024. There are a few factors behind this: 1) Supply issues (expected massive US fiscal deficits over the next several years); 2) Demand issues (Japan and China – two major holders of US treasuries – are likely to show less interest in US debt going forward); 3) Fundamental factors (inflation is likely stickier than markets expect as getting back to 2% inflation is challenging). All of this, combined with the market pricing in the return of a healthier level of term premia and a real rate closer to pre-global financial crisis averages is pushing long-term rates higher. This process, supported by the short-end rates rallying, has helped steepen the US yield curve which is what we have been positioned for.

As the financial market adjustment to the ‘’old normal’’ of higher rates takes time and brings about more volatility, we encourage investors to look for investment opportunities in fixed income which delivers attractive income while acting as a reliable diversifier to equities again. Our preference is to position in higher quality sectors while slowly moving further out the curve. Investment grade credit bonds with their all-in yield at 6%+, high-quality mortgages, and select opportunities in the high yield all look attractive.’’

sonal desai 1

Speaking on the sidelines of the Forum, Ed Perks, Chief Investment Officer, Franklin Income Investors, said: “The impact of higher-for-longer rates is now filtering down into the US economy, as small and medium-sized businesses are starting to feel the effects of not just the Fed’s tightening policy, but also the much more magnified and pronounced rise in longer-term interest rates. This has implications for both fixed-income and equity markets, and we are starting to see cracks in corporate earnings, there will be additional pressure if rates stay high in the long term. For income investors, higher interest rates are widening the fixed income opportunity set for achieving yield, and investment-grade corporate bonds stand out to us in the current environment as they offer attractive income, total return, and risk management potential. Looking ahead, if we do see the US economy start to decelerate and the Fed progresses closer to its inflation target and gains comfort with lowering rates in the second half of 2024 into 2025, that would provide a nice tailwind for total returns in fixed-income.”

Commenting on the outlook for developed market equities, Jonathan Curtis, incoming Chief Investment Officer, Franklin Equity Group, said: “Developed markets, and the US economy in particular, are showing signs of relative resilience and growth, thus making them attractive in this period of increasing macro and geopolitical uncertainty. We also see supportive valuations down the market cap spectrum in companies with exposure to the key themes we like including digital transformation, healthcare innovation, and energy transformation. This valuation disconnect creates an opportunity for investors to diversify their portfolios beyond the handful of large-cap growth businesses that have dominated the market for the past decade. We believe that mid-cap investments in the current environment.

First, we believe mid-cap and small-cap growth businesses are generally undervalued at the moment compared to their large growth counterparts. The price-to-earnings multiple on the market cap-weighted S&P500 hasn’t been this elevated vs the S&P500 equal-weighted index for at least the past 13 years. Second, mid-cap and small-cap businesses tend to be more sensitive to the economic cycle and may benefit from still resilient consumer spending and business activity. That said, investors should be wary of signs that less affluent consumers are starting to bear the pressures of higher interest rates. Finally, mid-cap and small-cap businesses offer more potential for innovation and disruption than large-cap businesses, as they are often nimbler and more adaptable to changing customer preferences, innovative technologies, and competitive pressures. They may also have more opportunities to expand into new markets, acquire other businesses, or become acquisition targets themselves.”

Commenting on the outlook for global and emerging market equities, Manraj Sekhon, Chief Investment Officer, Templeton Global Investments, said: “The current environment for global equity investors is unique. It offers a balance of near-term uncertainties and attractive long-term growth drivers. The short-term risks to the global economy include slower growth due to high-interest rates and elevated geopolitical challenges. This contrasts with the longer-term potential of breakthroughs in technology and healthcare alongside other secular trends. This environment provides fertile opportunities for long-term bottom-up investors, including Franklin Templeton.”