With the Enam Conference underway, CNBC-TV18 finds out the mood across conference in such turbulent times from Dharmesh Mehta, managing director of institutional equities, and Srinivas Subramanian, head of investment banking at Enam Securities.
The Enam heads indicated that the Indian market will see volatile times and some small correction, depending on the global situation in the short-term. They also mentioned that any kind policy development would help the Indian markets to find value. While Subramanian said that 2011 will be a little more wary, Mehta told that majority of hedge funds are short or underweight India even today. Moreover, Subramanian further stated that India will have 7-7.5% GDP growth this fiscal. Here is the edited transcript of their interview to CNBC-TV18. Also watch the accompanying video. Q: What are you picking from all the investors because we are travelling through very trouble times? Yesterday, the Italian bond yields crossed the 7% mark as well. What are people making of the global situation now? Mehta: People have come in India as they find the valuations very attractive. This is the right time to pick up large stakes in decent companies, which are now coming at a good price. There is a concern on the global macro situation. So, people would not come tomorrow morning and start buying. This is the time for them to understand what is happening on the ground, and then, take a long-term decision depending on that. Q: From the last time the conference was held till date, there has been a big slide across the Indian market. What advice will you give out? Is it a good time to spend the money that people have been sitting on? Is there a feeling that there could be further capitulation thatDiscover 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!
