In the eyes of the country’s veteran fund managers, there is still a lot of power in the Indian stock market. Nilesh Shah, Managing Director, Kotak Mahindra AMC, says that the increased profits of the corporate sector after recovering from the problems of COVID-19 can give a lot of momentum to the stock market in the long term. He said that in the long term, the performance of real estate, industrial, digitalization sectors will be the best.
In a webinar of Association of National Exchange Members of India (ANMI) on Equity Market Outlook, Nilesh Shah, Managing Director, Kotak Mahindra AMC said that the stock market is currently dependent on the profits of the corporate sector. The corporate sector’s profit in the June quarter last year was Rs 32 thousand crore, which is expected to increase to Rs 2,10,000 crore in the quarter ended March this year. The stock market is not paying attention to the current problems. Its focus is on long-term corporate sector profitability.
There are many things that drive the market.
He said that at this time there are many things that give momentum to the stock market. The government’s vaccination program has gained momentum and healthcare facilities are being improved. Interest rates are cheap and business costs have also come down. State incentives are also being given to increase employment. These steps of the government will play an important role in giving momentum to the stock market. He said that in the long term, the performance of real estate, industrial, digitalization sectors will be the best.
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India’s long term fundamentals will be better
Nilesh Shah said that India’s long term fundamentals are expected to be better. The country is on the way to maintain the low inflation rate. The fiscal deficit is stable and the position of foreign exchange reserves is also good. The situation in the banking sector is looking good and the availability of physical and digital infrastructure is also good. Such situations will give more height to the stock market going forward.
ANMI’s alternate president Kamlesh Shah said that the country is passing through a critical time at this time. On one hand it is fighting with COVID-19 but on the other hand the stock market has reached its height. We are extremely happy to see the entry of retail investors in the market. Earlier this category of investors had never had such a big entry in the market.
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