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Last Updated : Dec 03, 2019 04:18 PM IST | Source: CNBC-TV18

Worst seems to be over for NBFCs: Rashesh Shah, Edelweiss Financial Services

On trade war between US and China, he said: "If there is a global trade pact between US and China and the global economy picks up...India's GDP growth can see some kind of a revival."

CNBC-TV18 @moneycontrolcom

People are looking to invest in the market as optimism is back, according to Rashesh Shah, Chairman and CEO of Edelweiss Financial Services.

"Especially in areas like smallcap, midcaps, there are quite a few good companies that have already started doing well in the stock market," said Shah at the Edelweiss Emerging Ideas Conference in Mumbai.

He, however, added that there are a lot of undervalued companies. "There is going to be a lot of stock-picking ideas that investors will get a chance to grapple with."

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Speaking about recovery in earnings, he said: "Corporate tax rates are the lowest in India's economic history. So with such low corporate taxes and low-interest rates, we just need a little bit of confidence to bounce back."

On trade war between US and China, he said: "If there is a global trade pact between US and China and the global economy picks up...India's GDP growth can see some kind of a revival."

He also said that the worst seems to be over for the non-banking financial companies. "A lot of NBFCs have become stronger, raised capital, managed liquidity...I think the rejigging of the businesses is going on... Going forward, NBFCs will have a model which will be partnerships with banks rather than competition with banks."

Source: CNBC-TV18

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First Published on Dec 3, 2019 02:58 pm
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