Saurabh Mukherjea of Ambit Capital shook the world when he said it is a contracting gross domestic product (GDP) for the current year and now he says the evidence that emerged in the last few days validates the point that the economy is under pressure.
Speaking to CNBC-TV18 Saurabh Mukherjea of Ambit Capital said that we have been accused of saying a lot of things that are thought of as sensational but facts and subsequent events have borne them out.
Ambit, in a report, has pegged the GDP growth rate for the second half of this year at a mere 0.5 percent. It has also cut its FY18 GDP growth guidance to 5.8 percent from 7.3 percent.
Speaking to CNBC-TV18 on the sidelines of Ambit India Access Conference, Mukherjea said that there‘s a consistent pushback from investors that Indian stocks are aggressively priced. â€œWe need to see some pullback from Indian market to see FII money aggressively into India,â€ he said.
Consumer demand in the three months to November is likely to be meaningfully better than the corresponding period of last year on account of abundant provisioning for loans and consumer appetite for purchasing goods, said Saurabh Mukherjea of Ambit Capital investments.
Unusual Billionaires by Saurabh Mukherjea identifies seven gems who have given 10 percent revenue growth and 15 percent return on capital every year for the past 10 years. Among these seven gems are Marico and Astral Poly Technik. Find out what makes them distinct from others.
â€œThere is no economic pick-up as such in the domestic market,â€ says Saurabh Mukherjea, CEO - Institutional Equities at Ambit Capital adding that no up move is expected in next six months.
To find out what lies behind the seven decades of continued excellence at Asian Paints, watch Jalaj Dani's interview with Latha Venkatesh on CNBC-TV18.
Saurabh Mukherjea, CEO-institutional equities of Ambit Capital, maintains his Sensex year-end target at 29,500.
Saurabh Mukherjea, author of the book 'The Unusual Billionaires' feels the buy-and-hold approach to investing holds true even as volatile financial markets and disruptive changes across sectors are questioning its validity
The problem according to Saurabh Mukherjea of Ambit Capital is that two developmentsâ€”negative interest rates and negative inflation-- are striking at the heart of the premise that the entire banking system is built on
Better than expected quarterly corporate earnings, signs of a turnaround in the economy and the positive mood in global markets had lifted equity benchmarks to seven-month highs earlier this month.
The market will quickly try to suss out if the new person has the spine to stand up to New Delhi, and if he doesn‘t, the rupee will bear the consequence, says Ambit's Saurabh Mukherjea
With the Sensex breaking below 23,000, Saurabh Mukherjea of Ambit Capital is continuing to stick with his 22,000 call but says the occurrence of three events will make him call a likely bottom to the market.
â€œThe potent combination of a slowing economy with gradual deterioration in banking system makes it inevitable that we will run into serious challenges over the course of CY16,â€ Saurabh Mukherjea, CEO-Institutional Equities says.
Saurabh Mukherjea - CEO, Institutional Equities at Ambit Capital is of the view that one can buy Tata Consultancy Services.
The tightening of monetary policy in the United States and an economic slowdown in China has weighed, and will likely continue to weigh on risk assets worldwide, says noted analyst Saurabh Mukherjea.
Thomas Rookmaaker, Director in Fitch Ratings‘ Asia-Pacific Sovereigns says the election results are not likely to impact decisions by foreign investors in other states. Hence he does not expect major implications on the economic front.
Market veterans Sanjoy Bhattacharya, Managing Partner of Fortuna Capital, KV Sivasubramanian, Former CIO of Franklin Templeton, Saurabh Mukherjea of Ambit Capital and Ramesh Damani, Member of BSE discuss the art of selling in stock market.
"Companies like Jaiprakash Associates, GMR Infrastructure, Lanco Infratech, among others, which are by and large fully bankrupt companies, are the star leaders in this run up to this thing. It tells you what the quality of this rally is going to be," says Ajay Srivastava, CEO of Dimensions Consulting
While retaining his Sensex fair value target of 28000 by March, Saurabh Mukherjea, CEO of institutional equities at Ambit Capital, cautioned that the index slipping to 22000 is a distinct possibility.
The domestic slowdown and the powerful reset in government policies are coinciding with a major shift in the global economic ordersays Saurabh Mukherjea of Ambit Capital
According to Saurabh Mukherjea, CEO-Institutional Equities at Ambit Capital, one may see downside in Larsen and Toubro and UltraTech Cement.
The participants of Cafemutual Confluence 2015, a panel discussion with fund managers, include S Naren of ICICI Pru, Anoop Bhaskar, head-equities at UTI MF, Anup Maheshwari, DSP Blackrock Investment Managers, Prashant Jain, ED & CIO, HDFC MF and Gopal Agarwal, CIO, Mirae Asset Investment.
China's slowing economy will take a heavy toll on the Indian economy with high chances of Sensex sliding to 22,000 by year-end, warns Ambit Capital's Saurabh Mukherjea.