Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Daily Voice | Private banks, healthcare, telecom may outperform in 2023, says Manishi Raychaudhuri of BNP Paribas Securities

A developed market recession could negatively impact the revenues of India's services sector, where the urban affluent population is employed, dampening the consumption sentiment, he says.

December 01, 2022 / 12:33 PM IST
Manishi Raychaudhuri Asia-Pacific Head of Equity Research and Asian Equity Strategist - BNP Paribas (Image Source: Twitter/ @Manishi_R)

Manishi Raychaudhuri Asia-Pacific Head of Equity Research and Asian Equity Strategist - BNP Paribas (Image Source: Twitter/ @Manishi_R)

For the Indian economy, "the strongest tailwind is a rapid cyclical recovery apparent in strong credit growth revival and robust growth in GST collections," says Manishi Raychaudhuri, Head of Equity Research – Asia Pacific at BNP Paribas Securities, in an interview to Moneycontrol.

He says vigorous expansion in FDI, driven by various supply-side measures adopted over the past 3-4 years is another notable support to the economy.

But BNP Paribas expects returns from India's headline equity indices (Sensex and Nifty) in 2023 to be flat to marginally positive, as valuations adjust to relatively muted earnings growth expectations in a year of expected recession in Developed Economies, says Raychaudhuri.

He believes financials, particularly private banks, healthcare and telecommunication are likely to outperform in 2023.