Pramod Gubbi of Ambit Capital sees a revival in Indian and global markets, but says that he will take money off the table in some cases.
Saurabh Mukherjea, CEO, Ambit Capital believes the economic weakness and the rally against is making it uncomfortable to chase the rally. He believes IT and pharma have a few stocks with attractive valuations even if both the sectors are seeing some pressure.
The shift the industry is currently undergoing is evident from growth numbers, which have plummeted to mid-single digits in the last few years. And for the first time, industry body Nasscom has deferred its annual growth guidance.
India is staring at an imminent jobs crisis as three leading service sectors â€” which have been engines of job creation for two decades now â€” get ready to shed jobs by the tens of thousands, each driven by its own dynamic.
Prashant Mittal of Ambit Capital says any downmove is likely to find support near the levels of 8,260 - denoting intermediate tops made between the double bottom formation.
Prevailing conditions aren‘t conducive for a big rally in the markets in the short term, Saurabh Mukherjea told CNBC-TV18. The brokerage house had in November scrapped its FY17 Sensex target of 29,500 in view of the government‘s demonetisation drive. Ambit Capital‘s FY18 Sensex target stands at 29,000.
Saurabh Mukherjea of Ambit Capital shook the world when he said it is a contracting gross domestic product (GDP) for the current year and now he says the evidence that emerged in the last few days validates the point that the economy is under pressure.
Speaking to CNBC-TV18 Pramod Gubbi, Head Of Equities at Ambit Capital, said that Donald Trump‘s recent rhetoric on H1B visas are less of an issue for the IT sector. IT sector will continue to wrestle with challenges regardless of the US president elect's negative bias towards immigrant workers, he said.
Speaking to CNBC-TV18 Saurabh Mukherjea of Ambit Capital said that we have been accused of saying a lot of things that are thought of as sensational but facts and subsequent events have borne them out.
As per a Business Standard article, Ambit sees a significant decline in GDP growth in the second half of the current fiscal and sees it decelerating from 6.4 percent in the first half 0.5 percent year-on-year (YoY) in H2FY17.
Ambit, in a report, has pegged the GDP growth rate for the second half of this year at a mere 0.5 percent. It has also cut its FY18 GDP growth guidance to 5.8 percent from 7.3 percent.
According to Ambit Capital, GDP growth is likely to decelerate from 6.4 percent in first half of this fiscal to 0.5 percent in the second half with a distinct possibility of GDP growth contracting in third quarter of this fiscal.
The government's decision to withdraw existing currency notes of Rs 500 and Rs 1,000 from circulation has rattled most property developers given the huge cash dealings in the sector.
Speaking to CNBC-TV18 on the sidelines of Ambit India Access Conference, Mukherjea said that there‘s a consistent pushback from investors that Indian stocks are aggressively priced. â€œWe need to see some pullback from Indian market to see FII money aggressively into India,â€ he said.
The company said Holland and Sanhavi will be joined by Piyush Shah. They were instrumental in building the proprietary trading team at Merrill Lynch, managing and advising USD 1 billion of capital.
Saurabh Mukherjea, CEO-institutional equities of Ambit Capital, maintains his Sensex year-end target at 29,500.
The problem according to Saurabh Mukherjea of Ambit Capital is that two developmentsâ€”negative interest rates and negative inflation-- are striking at the heart of the premise that the entire banking system is built on
The key sensitivity areas to look at include whether China uses this opening to significantly devalue the RMB, according to Saurabh Mukherjea of Ambit Capital.
The benchmark BSE Sensex could dive to 22,000 levels by end of the current fiscal, owing to adverse global developments following Britain's exit of European Union, says a report
As per estimates by financial services and investment research firm Ambit Capital, the CPI inflation is expected to average at an estimated 5.8 percent year-on-year in the current fiscal, which is higher that the RBI's projection of about 5 percent.
The market will quickly try to suss out if the new person has the spine to stand up to New Delhi, and if he doesn‘t, the rupee will bear the consequence, says Ambit's Saurabh Mukherjea
The Indian economy is unlikely to witness a broad-based recovery, as a stressed banking system continues to be unable to fund a turn in the investment cycle, says Pramod Gubbi of Ambit Singapore.
Nifty may see some fleeting short-term resistance, but there are no major hurdles going forward and it may touch 8700 levels soon, says Jai Bala of Cashthechaos.com.
Pramod Gubbi, analyst with Ambit Capital, said the agenda seems to be towards bringing in more transparency in line with what the government has been doing to control black money.
This conclusion has drawn on basis of the Regional Keqiang Index (named after a similar China-based index) launched by Ambit, which has been conducting extensive research on ground-level economic indicators across the country, Mankar says.