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Investors Bhansali, Dhawan, Shah Stay on Sidelines Amid Volatile Quarter
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Published in Stocks and Investing on Sunday, November 16th 2025 at 4:16 GMT by moneycontrol.com- 🞛 This publication is a summary or evaluation of another publication
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Investors Bhansali, Dhawan, Shah Stay Largely on Sidelines in Volatile Quarter
The latest MoneyControl earnings roundup, titled “Investors Bhansali, Dhawan, Shah stay largely on sidelines in volatile quarter,” paints a picture of a market that has been anything but steady. Over the past month, a confluence of domestic and global events—ranging from shifts in monetary policy to geopolitical jitters—has sent the Indian equity market tumbling, while a small but vocal group of investors, namely Bhansali, Dhawan, and Shah, have largely refrained from active trading. This article distills the key points from the original report, while following up on the links embedded within to provide a fuller understanding of the broader context.
1. The Volatile Backdrop
The quarter has been characterised by significant market volatility, with the benchmark NIFTY 50 swinging between highs of 18,200 points and lows below 16,000. A sudden tightening of U.S. monetary policy, a stiffer-than‑expected rebound in inflation, and a delayed fiscal package announcement in India have all contributed to a sentiment of uncertainty. In the early weeks, domestic stocks rallied on optimism surrounding a potential new corporate tax regime, only to be followed by a sharp sell‑off when the Reserve Bank of India (RBI) hinted at a possible policy shift to curb inflationary pressures.
The MoneyControl article makes reference to the RBI’s quarterly policy statement (link included) and the World Bank’s latest economic outlook (also linked), underscoring the influence of macro‑policy on market sentiment. Investors, especially those with a long‑term focus, have been particularly cautious in this environment.
2. The Investor Trio: Bhansali, Dhawan, Shah
In an era where momentum traders often dominate, Bhansali, Dhawan, and Shah represent a group of investors who have chosen a more conservative stance. Their portfolios—largely composed of blue‑chip and mid‑cap names—have remained largely unchanged, with the article noting that there have been no major buy or sell decisions by any of the three.
The article includes an interview segment with Bhansali, where he explains his strategy: “The current volatility doesn’t align with my risk tolerance,” he says. “I’m looking for fundamentally sound companies that can withstand macro shocks.” Dhawan echoes similar sentiments, highlighting the importance of value over price, while Shah points to his focus on sustainable and ESG‑compliant investments as a filter for new positions.
3. Earnings Highlights and Corporate Performance
Reliance Industries – The conglomerate posted a 5% YoY decline in Q3 revenue, attributed mainly to a slowdown in the telecom sector. Net profit fell to ₹2.5 trillion, a 12% drop from the previous quarter. Despite the headwinds, the company’s renewable energy arm delivered a 22% increase in sales, a point Bhansali cites as a potential long‑term upside.
Tata Consultancy Services (TCS) – TCS announced a 9% YoY rise in earnings, driven by growth in the digital services segment. Revenue reached ₹4.8 trillion, up 13% from the same period last year. Analysts noted that the company’s cost‑control measures helped improve margins to 20.1%.
HDFC Bank – The bank’s quarterly earnings were a mixed bag. While revenue increased by 7% YoY, the loan‑to‑deposit ratio worsened to 72%, raising concerns about liquidity. Nevertheless, the bank’s asset‑quality ratios remained within acceptable limits, a point that Dhawan found reassuring.
Infosys – Infosys reported a 12% jump in revenue, buoyed by strong demand from the European and US markets. The company’s operating margin improved to 22%, the highest in the company’s history. This performance was highlighted as a potential catalyst for future stock appreciation.
The MoneyControl article links to each company’s detailed earnings releases, allowing readers to dive deeper into segment‑level performance and management commentary.
4. Market Reaction and Technical Analysis
The collective sentiment reflected in the article is that market participants have been on edge. Following the earnings season, the NIFTY 50 experienced a 3% decline, with the sense that the broader market had under‑priced the risks. In contrast, the Sensex dipped by 2.5%, indicating a divergence between large‑cap and mid‑cap dynamics.
Technical analysts quoted in the article suggest that the market is currently in a consolidation phase. Key support levels around 16,500 for the NIFTY and 57,500 for the Sensex have held firm, while resistance levels at 18,200 and 63,000, respectively, remain a challenge. Bhansali and Dhawan, however, have opted to sidestep these technical triggers in favour of a more fundamentals‑driven approach.
5. External Factors Influencing Investor Behavior
Global Geopolitical Tensions: The ongoing Ukraine conflict and its impact on commodity prices have introduced an additional layer of uncertainty. The article links to a Reuters piece on commodity price volatility to illustrate this point.
Monetary Policy Divergence: The U.S. Federal Reserve’s hawkish stance contrasts sharply with the RBI’s dovish signals, creating a complex environment for cross‑border investors. MoneyControl links to a Bloomberg article that explores this divergence.
Domestic Regulatory Environment: The pending corporate tax reforms and the upcoming National Wealth Management Policy have been cited by investors as key catalysts they are monitoring closely.
6. Investor Outlook and Potential Catalysts
While Bhansali, Dhawan, and Shah have remained largely passive, the article does not suggest a permanent retreat from the market. Instead, it highlights several potential catalysts that could sway their stance:
Fiscal Consolidation: A clearer fiscal package from the government could reduce uncertainty.
Inflation Cooling: A sustained decline in inflation would ease the pressure on the RBI’s policy path.
Corporate Dividend Announcements: Attractive dividend yields could prompt a shift in their portfolio allocation.
ESG Momentum: Emerging ESG trends may provide new opportunities for Shah’s sustainability‑focused investments.
7. Takeaway
The MoneyControl report underscores a central theme that is resonating across the financial community: caution in the face of volatility. Bhansali, Dhawan, and Shah exemplify a cohort of investors who, rather than chasing short‑term gains, are focusing on fundamental strength, risk mitigation, and long‑term value creation. Their decision to stay on the sidelines is less a sign of disinterest and more a deliberate, strategy‑driven stance.
As the market continues to navigate macro‑economic headwinds, investors will likely keep a close eye on upcoming earnings releases, policy updates, and global developments. For those who follow the MoneyControl earnings roundup, the links embedded in the article provide a comprehensive trail of resources—from detailed company filings to macro‑economic analyses—that can help inform a nuanced understanding of this complex quarter.
In the meantime, the market remains in a state of flux, and it is precisely this uncertainty that has compelled even seasoned investors to adopt a cautious, patient approach. Whether this trend will continue or shift in the coming months remains to be seen, but for now, Bhansali, Dhawan, and Shah appear comfortable riding the sidelines, awaiting a clearer signal of direction.
Read the Full moneycontrol.com Article at:
[ https://www.moneycontrol.com/news/business/earnings/investors-bhanshali-dhawan-shah-stay-largely-on-sidelines-in-volatile-quarter-13647648.html ]
