Rakesh Jhunjhunwala stated and we quote “That is difficult to say, but I would think so, 4800-5000 is a level where markets will surely find a base, strong support which goes there. The headwinds are on Indian markets, the most important thing is inflation. Because inflation controls everything, interest rates, growth and the second headwind is the government inaction.
Although we have very good people at the helm of government and they know what needs to be done, but politically they are not able to give any consensus at all. There were hopes of some big reform after the elections, but nothing has happened up until now. And unless we get some kind of a reform in the subsidies and some kind of a clear roadmap for the DTC and goods and sales tax, GST, the markets are waiting for that.”
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