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These 4 sectors may witness turnaround in FY25, says Union AMC's Hardick Bora

Money ControlMoney Control · 1y ago
These 4 sectors may witness turnaround in FY25, says Union AMC's Hardick Bora
Medial

Hardick Bora, Co-Head Equities at Union AMC, has a positive stance on the IT sector, believing that it may be near the end of the earnings downgrade cycle. He also highlights the automobiles, industrial/capital goods, healthcare, real estate, and PSU banks sectors as ones to watch for potential business growth and valuations. Bora expects a turnaround in sectors such as information technology, retail/QSRs, chemicals, and private banks in FY25. However, he advises caution when investing in mid-caps and small-caps, suggesting a staggered investment approach. He anticipates strong corporate earnings in FY25, but notes the risks of geopolitical tensions and slower global economic growth.

Meta India appoints Arun Srinivas as managing director

EntrackrEntrackr · 2m ago
Meta India appoints Arun Srinivas as managing director
Medial

Meta India appoints Arun Srinivas as managing director Arun Srinivas has been appointed as the managing director and head for Meta in India. Srinivas was the director and head of the ads business for Meta India since 2022. In this role, Srinivas oversaw business strategy and revenue growth for India across all Meta platforms and for all businesses. He was part of the India leadership team and focused on strategic revenue priorities such as AI, Reels, and Messaging. This comes after Meta expanded the role of its India vice president, Sandhya Devanathan, who now also leads the tech giant's Southeast Asia business. The development was announced by Meta’s Asia Pacific head, Dan Neary. According to Meta India, Srinivas will transition to his new role from July 1, 2025, and will continue to report to Sandhya Devanathan. Srinivas was previously Ola’s chief operating officer and global chief marketing officer. He left the company in 2020, a year after he joined. A former vice president at Unilever, Srinivas had joined Ola after a stint at private equity firm WestBridge Capital, where he led its investments in the consumer vertical. His appointment comes at a time when Meta and Indian authorities have locked horns over allegations of the tech firm's anti-competitive practices in the country. In November, the Competition Commission of India (CCI) fined the company over antitrust violations and restricted the popular messaging platform WhatsApp from sharing user data with other Meta-owned applications for advertising purposes for a period of five years.

BharatPe strengthens leadership team with key appointments in finance and investments

EntrackrEntrackr · 8d ago
BharatPe strengthens leadership team with key appointments in finance and investments
Medial

BharatPe strengthens leadership team with key appointments in finance and investments Fintech platform BharatPe has expanded its leadership team with the appointment of Rajesh C as Head of Finance and Himanshu Nazkani as Head of Investments. The strategic hires come as the company prepares for its next phase of growth. Rajesh C, who will oversee finance, treasury, and taxation, brings more than two decades of experience across financial planning, accounting, and regulatory reporting. He has previously held leadership roles at SBI Card, ABN Amro-RBS, and GE Capital, and was part of the core team that managed SBI Card’s IPO. Himanshu Nazkani, as head of investments, will drive the company’s investment and insurance strategy while building partnerships across mutual funds, digital gold, fixed deposits, and insurance. With experience spanning fintech, wealthtech, and venture capital, he has previously worked with CarDekho Group, NYE Money, Kristal.ai, Elevar Equity, and Religare Global Asset Management. The development comes at a time BharatPe is negotiating a pre-IPO funding round. The company recently claimed that it turned profitable in FY25 with a profit before tax of Rs 6 crore (excluding ESOP costs) on revenues of Rs 1,800 crore. This marks a turnaround for the firm which had been loss-making for several years. BharatPe raised its last equity round in August 2021 when it also entered the unicorn club. It has raised over $650 million in equity and debt from the likes of Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital and others. In June, BharatPe announced the appointment of Siddhartha Jain as the Chief Network Officer (CNO). Trillionloans Fintech Private Limited (TFPL), the BharatPe NBFC arm, had also appointed Sandeep Singh as its new chief executive officer in April this year.

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