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

Home » News » Markets » MARKET OUTLOOK

Oct 08, 2012, 04.12 PM | Source: CNBC-TV18

See more reforms in next few weeks: Ambit Capital

After the recent rally, the Indian market has corrected sharply today. In an interview to CNBC-TV18, Saurabh Mukherjea, head of equities at Ambit Capital says he would not attribute this to national factor. He expects more reforms coming in the next few weeks.

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

See more reforms in next few weeks: Ambit Capital

After the recent rally, the Indian market has corrected sharply today. In an interview to CNBC-TV18, Saurabh Mukherjea, head of equities at Ambit Capital says he would not attribute this to national factor. He expects more reforms coming in the next few weeks.

Post Your Comments

Share Cancel

Saurabh Mukherjea (more)

CEO- Institutional Equities, | Capital Expertise: Equity - Fundamental

After the recent rally, the Indian market has corrected sharply today. In an interview to CNBC-TV18, Saurabh Mukherjea, head of equities at Ambit Capital says he would not attribute this to national factor. "This is more of a global concern. I don’t think the government has anything done wrong in the couple of months to precipitate today’s correction," he adds.

He expects more reforms coming in the next few weeks. "There are multiple tranches of reform coming in the next few weeks. From that perspective, that driver of our economic growth story remains," he adds.

Also read: Aiming for fiscal deficit of 5.3% or lower, says Chidambaram

Below is the edited transcript of his interview on CNBC-TV18.

Q: As far as today’s action goes, how do you explain it? The government is making the right noises. But is it the global concerns that are returning once again? Is it that the post reform euphoria dying down?

A: I would not attribute this to national factor. This is more of a global concern. I don’t think the government has anything done wrong in the couple of months to precipitate today’s correction. I wouldn’t worry about it at the national level because this is more a global economic recovery concern than an India specific issue.

Q: Taking that into consideration, do you think 5,700 is sustainable for now?

A: There is more reforms coming in the next few weeks. There are multiple tranches of reform coming in the next few weeks. From that perspective, that driver of our economic growth story remains.

The ECB intervention will become more active in coming weeks. Whether it is for global cues perspective or domestic reform momentum both will continue. I don’t think that much bad news is coming-in in the results, if the market hasn’t factored in.

Q: The Bank Nifty has seen a pressure. What are your thoughts?

A: Most of the expected banks have rallied strongly over the last month or so. But this was expected.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
See more reforms in next few weeks: Ambit Capital

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