Nilesh Shah, market participant, in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12.
Below is a verbatim transcript. For the complete interview watch the accompanying video. Q: How did you gauge the market reaction - the big rally after the event and the way it came off in the next couple of hours? A: It is a bit difficult to gauge but if you see the stocks which have gone up like ITC, M&M, Maruti, it is the absence of bad news, which has pushed them up. If you see the stocks, which have fallen down, Tata Motors, JP Associates, RInfra or Ranbaxy, it is again absence of good news which has made them fall. Somewhere the market got a little bit carried away because the budget delivered what they wanted to hear and now the selling is coming from those guys who are saying that, yes, the budget is very good in hearing but will it execute, will it deliver? We are seeing a nice battle between people who wanted to hear good things and people who believe that execution could be tough.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
