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homefinance NewsSlowdown not as scary as assumed in April June: Kotak Institutional

Slowdown not as scary as assumed in April-June: Kotak Institutional

“As we speak today, it is not like we have fully understood the slowdown, it is not like we have still understood the credit cost to the slowdown but fair to assume that it doesn’t seem as scary as what you saw the data coming in probably in April to June,” MB Mahesh, Analyst, Kotak Institutional Equities, said in an interview to CNBC-TV18.

By Latha Venkatesh | Surabhi Upadhyay | Sonia Shenoy Dec 2, 2020 4:08:38 PM IST (Published)

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“As we speak today, it is not like we have fully understood the slowdown, it is not like we have still understood the credit cost to the slowdown but fair to assume that it doesn’t seem as scary as what you saw the data coming in probably in April to June,” MB Mahesh, Analyst, Kotak Institutional Equities, said in an interview to CNBC-TV18.

The contraction in India’s GDP for the September was lesser than what most analysts and economists had forecast, leading many to hope that the economy should be back on track earlier than was initially thought.

“Starting from June, you started seeing the commentary starting to turn a bit more positive, you have the moratorium data which was a bit scary but then banks started telling us that we have started to pullback from the moratorium,” Mahesh said.

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