• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Realasset Realasset
moneycontrol.com

Home » News » Markets » MARKET OUTLOOK

Feb 27, 2013, 10.55 AM | Source: CNBC-TV18

Budget 2013: Mkt eyes on fiscal discipline, reform roadmap: Syntel

Nitin Rakesh, president, Americas - Syntel Inc says that the market is expecting measures to ensure fiscal discipline and the provision of a reform roadmap in the Budget.

Like this story, share it with millions of investors on M3

Budget 2013: Mkt eyes on fiscal discipline, reform roadmap: Syntel

Nitin Rakesh, president, Americas - Syntel Inc says that the market is expecting measures to ensure fiscal discipline and the provision of a reform roadmap in the Budget.

Post Your Comments

Share Cancel

Nitin Rakesh (more)

CEO & President, Syntel Inc | Capital Expertise: Equity - Fundamental

Nitin Rakesh, president, Americas - Syntel Inc says that the market is expecting measures to ensure fiscal discipline and the provision of a reform roadmap in the Budget.

"There should be increased domestic institutional investor (DII) participation to support the market at current levels and the markets will struggle to move higher if the Budget disappoints," he told CNBC-TV18

Below is the edited transcript of the analysis on CNBC-TV18

Q: Do you expect the Budget to turn things around for the market?

A: There is a lot of hope that the Budget will ensure fiscal discipline and provide a roadmap of the reform-process over the next 12 months. However, what needs to be kept in perspective is that in the last six months saw record flows and the market touched three-year highs. So it is not a negative if the market pulls back a bit.

Q: What do you think is causing this selling which seems to be much more accentuated in the midcaps than the frontliners? Have FIIs have completely stopped buying?

A: It is a combination of a few factors. Domestic institutional investors (DII) have not been buying at all. There were a few trading positions that were built-in, others that were partly margin-funded that obviously bore the brunt when the midcaps started to fall and caused the increased selling in the midcaps. The global environment turning fairly vicious over the last week on events in Europe also added to the fall as India is a high-beta market and would be considerably affected whenever there was a risk-off globally.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Budget 2013: Mkt eyes on fiscal discipline, reform roadmap: Syntel

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login