“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.
“We will watch the commentary coming from management but it is fair to assume that it doesn’t seem to be as bad,” Mahesh said.
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(Edited by : Santosh Nair)
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