Small and midcaps stocks will outperform only when the market enters a bull phase based on sustainable economic recovery, Mayur Patel, Principal Fund Manager, IIFL Asset Management, tells Moneycontrol’s Kshitij Anand in an interview. Edited excerpts:
Q) The Indian market hasn’t looked back after hitting a low in March despite a rise in coronavirus cases and border tensions. Why this optimism?
Despite bleak visibility of economic recovery, the Indian equity market has bounced by around 13-14 percent over the last fortnight, tracking the global risk-on rally driven by a massive $15 trillion liquidity infusion by global central banks and governments.