In an interview to CNBC-TV18 Harendra Kumar of Elara Capital shared his reading and outlook on the market.
Reserve Bank have dismissed rumors that the it may impose capital control measures on foreign institutional investors (FII). For Foreign Direct Investment (FDI) under the Foreign Exchange Management Act (FEMA) itself it will be illegal to stop any such repatriation, reports CNBC-TV18's Latha Venkatesh.
Neelkanth Mishra, Head of Equity Strategy India, Credit Suisse believes that there is a lot of optimism outside India, far more than what is actually seen. “FII investors that you meet outside India are quite excited about the prospect for change in India, which is reflecting in a lot of fund flows into India,†he said.
Abhjit Chakraborty, Sr VP- Institutional Equity, Fortune Financial expected that with the GAAR issue kind of postponed, market should have rebounded but the fact that even after that incident the market has seen a sharp fall doesn't auger well.