See 20% earnings growth from India in next 2yrs: F&C Invst

Below is a verbatim transcript of an exclusive interview with Sam Mahtani on CNBC-TV18. Also watch the accompanying video.

Q: We are barely 20 points on the Nifty away from the January intermediate high. Do you think we can take that out and move higher?

A: Definitely, over 12 month view we are very positive on India. We think Indian market can break out. Our expectation over the next 12 months is that the market can trade higher by around 12-15%. On 12 month view, we think markets will move higher. In the shorter term, it will be volatile given what is happening globally with economic news flow, etc.

Q: There has been talk that the market may have now shifted into a higher range for itself. Do you see that over the next couple of months? What kind of range do you see for us?

A: It’s very difficult to give a specific range in short term, but clearly but there is going to be a push and pull from global markets on India in particular. This is going to come from the macro side because we have got concerns about some of the European countries.

On the flip side, we are also seeing strong recovery in India and some of the EMs & US and strong earnings growth. Hence, there is a push and pull in markets which will push & pull the Indian market up and down over next three-four months.