Neelkanth Mishra The
India Equity Strategist, CreditSuisse 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.Click hereNifty futures tips
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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