Views on Indian Market by Director ,Quantum AMC Mr IV Subramanium

Director ,Quantum AMC Mr IV Subramanium is optimistic on the state of Indian market and economy at large and the sentiments are expressed in an unequivocal terms and we quote his speech verbatum

“I don't really focus on the near term numbers because they are quite unpredictable in terms of the kind of foreign money flows in India and the issues related to that. Looking at the long term earnings growth and GDP growth in India, we clearly think that there is still lot of upside one is willing to hold over the next couple of years. So we are using this opportunity to reduce our cash levels and cherry pick good stocks as and when the valuations become more and more attractive. It's quite possible for the markets to go down further by around 10-20 %, largely because if any of these global events which you mentioned may actually result in an FII's selling, then you would definitely find the markets coming down very steeply. However, it's very difficult to say that this event will happen and therefore, one should wait for the 20% decline. You may not get that 20% decline and keep in mind that commodity prices, particularly oil, has been going down and that's a huge positive for India. So instead of focusing on all the negative news, you may find that there is lot of positive news which you need to focus upon and then the markets will move dramatically upwards very soon”.

Thus one need not worry as long term story for India remains intact and do keep on logging to get more share tips expert advice to get a broader picture about the Indian economy state.