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While there were some outflows recently, going forward, Quantum's Chirag Mehta thinks that flows will increase significantly in India from here on.
Christy Mathai says: The government is expected to set the fiscal deficit target at 5.2%-5.4% of GDP in FY 2024-25. The focus will be on moderating capex aggression and addressing tax inconsistencies. Bond investors are not likely to see any favorable moves in this budget. The government will continue its initiatives for import substitution and export opportunities. Sectors linked to government capex and rural recovery will be watched closely. Prudent asset allocation and systematic investing are recommended for equity markets.
Fund manager George Thomas shares his views on the interim Budget 2024, his expectations, sectors that are likely to do well. He also shares reasons as to why broader market index is unlikely to post high returns this calendar year and why this is the right time for asset reallocation.
While the current setting doesn’t indicate chances of a material correction, staggered investment may be considered for fresh investments to benefit from any near-term volatility, suggested Quantum.
“We are bottom-up stock pickers. Our recent additions have been in one of the private sector banks and cement spaces. The private sector bank where we added has been quite conservative in terms of lending in the last few years. Recently, given the benign NPA cycle, the economic cycle continues to be fairly favourable. So they are hopeful and even we are resonating their view that credit cost could moderate at least in the medium term. ”