Neelkanth Mishra The India Equity Strategist, Credit Suisse said that, while aggregate Nifty sales fall down 4.3 per-cent each year in Q1FY16 (up 5 per-cent excluding oil & metals), EBIT (earnings before interest and tax) decline slowed sharply and operating margins posted a three-year high. July-September quarter sales should see a bigger boost from USDINR, he added.
He expects further cuts for metals and PSU banks, but currency-driven upgrades to IT and pharma.In his point of view, the meaningful risks for the market continued to be outside India.
As fiscal headwinds to growth has receded, and government spending (particularly state governments) has picked up, native economic momentum is on the mend, he believes.
As fiscal headwinds to growth has receded, and government spending (particularly state governments) has picked up, native economic momentum is on the mend, he believes.
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