Expects 50-75 bps rate cut call for the year:Rohini Malkani

Rohini Malkani, Citigroup said, "May industrial production rose 2.4%,  higher than ours and consensus estimates even as capital goods plunged to -16%. This reiterates the need for policy or execution reform, but lack of political will may result in less than what the market is pricing in. On rates, we are holding on to our 50-75 bps rate cut call for the year. However, given the RBI's stance on inflation, monetary easing in the immediate near-term seems unlikely."