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MCX GOLD DEC 05
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SENSEX
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Hang Seng
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MCX SILVER DEC 05
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USD/INR
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Market to focus on GDP growth, Q3 earnings; will have small reaction on Budget: Nilesh Shah of Kotak Mahindra AMC

Updated : January 25, 2021 12:22 PM IST

The Indian equity market will do reasonably fine after a short-term reaction on the Union Budget 2021-2021, while the focus will on the economic growth and corporate earnings, said Nilesh Shah, Managing Director, Kotak Mahindra Asset Management.

Speaking to CNBC-TV18, Shah said, “The market will focus on whether the economy is growing or not, whether corporate earnings are growing or not. As far as the budget is pushing the acceleration of economic growth, market will be reasonably fine after a short-term reaction.”

“This budget can lay a foundation for faster growth in FY23 and FY24 and for that we need to raise resources without raising taxes by monetizing government assets, we need to spend money and provide stimulus to those sectors of the kingdom which are struggling against COVID-19. We also have to maintain path of fiscal prudence to reassure investors,” he said.

According to Shah, corporate earnings for the December quarter so far have been better than expectations.

“The result season for September as well as for December has been way above expectations. Barring few consumer-facing companies where sales are negative, rest all sectors across the industry are showing sales growth of 15-40 percent,” he said.

He believes the home improvement sector will see growth in volume and profitability.

For full interview, watch the video…

Published : January 25, 2021 12:22 PM IST

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