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Here's what key voices from the world of business and markets told CNBC-TV18 today

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Here is what market gurus and industry captains told CNBC-TV18 today on how they see the near-term play out.

Here's what key voices from the world of business and markets told CNBC-TV18 today
In the analysis presented after the Q1 GDP print, we had mentioned that high-frequency indicators do suggest a V-shape recovery, especially in manufacturing. I do think that the manufacturing recovery is indeed looking robust, partly it is also reflecting the reforms that have been done.
Krishnamurthy Subramanian, Chief Economic Adviser, government of India
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Be adequately clear that all the support that is needed will be provided for the recovery. Now that we are out and the system is recovering, we are providing it a lot of support and I am quite sure that as this momentum builds up, we will continue to give it a push. The important thing to remember is that we are not thinking of this as a sprint. This is a marathon, we will be spending money over a prolonged period of time.
We will try to revive the investments particularly in government projects but also in the private sector. There is no point in having demand coming back if we do not have the capacity to meet those new demands.
Sanjeev Sanyal, Principal Economic Adviser, Ministry of Finance
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The rate cut expectations from the Reserve Bank of India (RBI) has to be deferred for now. Upside surprise on growth will not be large for MPC to change their stance.
Samiran Chakraborty, Chief Economist, Citi
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The pace of normalisation has been faster than expected. Very high-frequency mobilization data shows pace of recovery to be very fast. The experience from other countries calls for caution. We see a potential contraction in GDP in the European nations.
Sonal Varma, Chief Economist- India & Asia Ex-Japan, Nomura Financial Advisory & Securities
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The Indian market will continue seeing strong capital flows. Q2 GDP was achieved due to the strong profit growth of listed entities. Emerging good news on vaccines means many developed markets can bounce back.
Sajjid Chinoy, Chief India Economist, JPMorgan
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We saw a strong recovery in the manufacturing sector in Q2. Significant transport of goods across borders has helped in growth. Higher cost debt is being replaced by lower-cost debt.
Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India
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We are disappointed with the November sales.  There was a decline of about 10 percent at the retail level. If I extrapolate that given the fact that there is nothing exciting which is going to happen in the December-March period, I would say we are looking at industry underperforming compared to last year same period in domestic motorcycles. We have started working on our higher-end electric bike and lower-end electric cycle.
Rakesh Sharma, ED, Bajaj Auto
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Starting today, what is going to change is there is a cap on maximum leverage that can be offered by brokerage. So the impact as such today may not be as much, but over the next 9 months, the maximum leverages that can be offered at brokerages will keep reducing and traders will get used to that by then. Large brokers like Zerodha won't see an impact as it’s already holding margin. Brokers at the tail-end would be impacted more. Customers getting only 80 percent credit same day on selling stock will have a deeper impact.
Nithin Kamath, Founder & CEO, Zerodha
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We do work extensively in the pharma sector and right now we are in the midst of talking to multiple pharma companies and other stakeholders to evolve a support mechanism to support the COVID vaccine programme. The temperature requirement will be an important aspect to manage vaccine. We are planning on building infrastructure on cold chain facility. However, not planning to invest any capex in cold storage. We do not own transportation assets but have partners associated for that.
Rampraveen Swaminathan, MD & CEO, Mahindra Logistics
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I would focus a lot on the financials. Financials are still relatively inexpensive compared to where they have been historical. If you make a case that there is going to be more stimulus and that the economy should continue to do well, then financials is the area where you will see a significant amount of upside. I would also say that both pharmaceuticals and IT have relatively underperformed over the last month but the fundamental earnings outlook for these sectors is quite strong. So given the relative underperformance, I would be partial towards these two sectors as well.
Ashwini Agarwal, Co-Founder and Partner, Ashmore Investment Management India
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The unified tariff will be beneficial for those customers who are far from the entry point and it will be little costlier for those customers who are near to the entry point. IOC is operating at almost 100 percent capacity now. It is a sign of the demand firming up at the national level. So we believe that the cash spreads will also move upwards going forward.
Sandeep Kumar Gupta, Director of Finance, Indian Oil Corporation
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I think everything that is got to do with infrastructure, capex, businesses that are getting outsourced, as we are very important participant to the global supply chain, that is where we are putting all our investments. I believe good quality companies which have not delivered in last decade should do well whereas stocks which delivered between 2010 and 2020 won't deliver in the next decade.
Kenneth Andrade, Founder & CEO, Old Bridge Capital Management.
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The arrangement is that we have kept the manufacturing line completely at disposal of the UK government. The Oxford vaccine production should be starting in few weeks. They initially want about 100 million doses of vaccine by early next year which we will make available. Our capacity in UK which we earmarked for the government is 350 million doses of vaccine. In addition, we have a significant capacity available in India.
Habil Khorakiwala, Founder Chairman & Group CEO, Wockhardt
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Cost of funding has gone down by 40 bps in first half of FY21. The micro, small and medium enterprises (MSMEs) are struggling for funds while top-rated companies are drawing money cheap.
Sanjay Chamria, VC & MD of Magma Fincorp
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In 14 trading sessions, the Nifty went up only 350 points, but in the prior 9 sessions, it went up 1,000 points. So, momentum is seriously divergent in the market. As a trader, I will always keep a greater eye on momentum. In case the market starts moving up rapidly again, then I will buy into these new highs.
Sushil Kedia, Founder, Kedianomics
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