Nifty to definitely hit new high in FY19
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The market has been volatile after recent sharp correction. Do you think it could resume northward journey soon or there could be more downside in the short term? What is your March 2019 target for the Nifty and how much returns do you expect in the next 12 months?
We believe that we are in a structural bull run. Temporary hiccups which have caused the domestic bourses to slide have made it healthier. It canada goose outlet sale was a much needed correction as liquidity was driving prices of stocks rather than canada goose outlet parka fundamentals. Earnings growth, which was a drag in the first two quarters due to demonetisation and goods and services tax (GST) rollout, was promising in quarter ending December 2017. In addition, we believe the all the negatives have been priced although do not rule out intermediate corrections. We believe investors to be stock specific and consider companies with good earnings visibility at a decent valuation. We do not have a target for Nifty but are confident canada goose outlet store that in FY19 it would touch a new high.
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buy canada goose jacket Going ahead, we believe, Q4FY18 earnings season would be good. We are canada goose outlet reviews confident that economic recovery is on its way and that should help corporate earnings grow canada goose outlet in usa in double digits in FY19. Infrastructure, consumption sector would drive earnings growth. The recent hike in cement prices also reinforces our conviction that things have taken off in the ground level as well. We believe canada goose outlet toronto factory corporate earnings should witness a CAGR OF 15 percent over the next two years and that canada goose outlet new york city should canada goose outlet shop make the current valuations cheap on forward earnings. buy canada goose jacket
What is your opinion on the canada goose outlet online ongoing trade war? What are the biggest risks for India on the global front?
Indian capital markets are not secluded from the global markets. Hence we feel there would impact on Indian equities. Financial instability would be a result from intensification of the ongoing trade war and the unwinding of the easy monetary policy canada goose outlet online uk by developed nations. Higher tariffs can force the countries to devalue their currency to make their exports competitive which can have a negative effect. We believe that the ongoing trade war cannot go long as it would have serious repercussions in the respective economies. There has to be some amicable solution which would even out the worries of market participants.
Have political risks been fully priced in or will they continue to be a cause for concern? Do you think some market participants are just overemphasizing on political uncertainties to create buying opportunities?
cheap canada goose uk We believe the present government has done a decent job since it has come into power. The next 1.5 years would create some uncertainty on the elections front which would create volatility. It would all depend on the current government as to how they keep a fine balance to meet the demands of masses and the economy. cheap canada goose uk
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Canada Goose Parka We do not believe that RBI would raise interest rates as CPI has been under control and RBI has lowered the inflation outlook. However, if food inflation rises out of deficient monsoon, then possibility of interest rate hike might come true. It’s too premature to talk about RBI’s action in the next policy as it would depend on monsoons. However, the threat of inflationary pressures looms amid global trade acrimony and the canada goose outlet uk sale climb in commodity prices and higher MSP fixed in Budget 2018. Brent crude is trading at USD 69.66 a barrel, sharply up from the 2016 17 average of USD 47.56 a barrel as tensions in the Middle East rise. Canada Goose Parka
Canada Goose sale Banking sector has been in a focus amid multiple governance issues PNB banking fraud, NPA, ICICI Bank Videocon case or Axis Bank’s Shikha Sharma’s term extension issue. What is your view on these issues? Is it a good time to invest canada goose outlet store uk in PSU or private banks? Canada Goose sale
We believe the current issues are very serious and put a bad name on India’s corporate governance in the Indian Banking system in front canada goose outlet black friday of global investors. We believe concrete measures would be taken by the regulator and the government in order to avoid such issues in the future.
uk canada goose We are of the view that the recent correction in PSUs is a good opportunity to invest in. However, we do not rule out further slippages and write offs in PSU banks. Recapitalisation and recovery measures would improve the bleak picture in the PSU banking space. However, PSU banks should perform on their own rather than depend on recapitalisation. Selective private banks would continue to do well. Our top pick in private banking space is HDFC Bank. uk canada goose
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